Home / Going-concern warnings / cbdMD, Inc.
Filed 2025-12-19 路 Form 10-K 路 Accession 0001437749-25-038435 nano
Price before filing: $1.93 (2025-12-18 close, split/dividend-adjusted)
Market cap at flag: $13.6M (2025-12-19) 路 Latest: $3.8M (2026-10-16)
| Window | YCBD | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -56.9% | +0.5% | -57.4% | 2026-01-20 |
| 90 days | -62.6% | -2.2% | -60.5% | 2026-03-19 |
| 180 days | -64.4% | +10.2% | -74.6% | 2026-06-17 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider sold $1.3M (3 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-17 | Crosnoe Clark R. 10% owner | Sale | 461,725 | $2.31 | $1.1M | no | Form 4 |
| 2025-12-17 | Crosnoe Clark R. 10% owner | Sale | 69,875 | $2.34 | $164K | no | Form 4 |
| 2025-12-17 | Crosnoe Clark R. 10% owner | Sale | 19,101 | $2.34 | $45K | no | Form 4 |
| 2025-12-19: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-09-20 to 2026-01-18. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Cherry Bekaert LLP
Source: independent auditor report in Form 10-K (period 2025-09-30)
Why this score: in auditor's report
Read the original filing on SEC.gov →
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Not investment advice. Automated summary; verify against the filing.
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