Codebase Ventures Inc (CSE:CODE) (OTCQB:BKLLF) reported that Love Hemp, a CBD supplier in the UK, and a subsidiary of World High Life Plc, in which the company is invested, has seen record monthly sales via its retail presence and e-commerce site.
In an update on the early-stage investor's holdings, Codebase also told investors it is "actively pursuing" pharmaceutical opportunities that could have a positive impact on the current global coronavirus pandemic.
World High Life is focused on backing or acquiring companies operating in the CBD wellness and medicinal cannabis industry and its wholly-owned subsidiary, Love Hemp is a leading CBD supplier in the United Kingdom.
Elsewhere, the firm said its Arcology investment - an AI (artificial intelligence) blockchain ecosystem - is advancing its presence among dAPP developers by launching a project on GitHub, the world's largest source code sharing platform.
DApp stands for decentralized application and such an app has its backend code running on a decentralized peer-to-peer network.
"With this intelligent client-end simulator, which we call Ammolite, the goal is to demonstrate Arcology's scalability, ease of use and compatibility within the developer community - a community that will be crucial in the adoption and use of Arcology into the future," said Arcology's founder and chief scientist Laurent Zhang.
Codebase said that Ammolite can simulate hundreds of thousands of dAPPs users on a network simultaneously.
Pressland on hold
Also in Friday's release, Codebase noted: "In the current business climate, the company's Pressland investment is being put on hold to deploy resources in the most effective manner where shareholder returns in the near term are prioritized.
"Leadership and the board of directors will re-evaluate prospects for the business model as the current health and economic crisis unfolds over the coming months."
Pressland's platform uses proprietary software which, with machine learning, artificial intelligence and natural language, collects and analyzes the news media’s production data in a bid to fight fake news and misinformation.
Shares zipped up over 33% to stand at C$0.020 each.
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