# EDGAR Filing Document

**Accession Number:** 0001817655
**File Stem:** 0001213900-25-123857
**Filing Date:** 2025-12
**Character Count:** 15555
**Document Hash:** 75726dac8548507c29a9f1e0858ec207
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-123857.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0001213900-25-123857

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** cbdMD, Inc.
- **CENTRAL INDEX KEY:** 0001644903
- **STANDARD INDUSTRIAL CLASSIFICATION:** PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 473414576
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90179
- **FILM NUMBER:** 251587713

**BUSINESS ADDRESS:**
- **STREET 1:** 8845 RED OAK BOULEVARD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28217
- **BUSINESS PHONE:** 704-445-3060

**MAIL ADDRESS:**
- **STREET 1:** 8845 RED OAK BOULEVARD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Level Brands, Inc.
- **DATE OF NAME CHANGE:** 20170202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEVEL BEAUTY GROUP, INC.
- **DATE OF NAME CHANGE:** 20150611
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Crosnoe Clark R.
- **CENTRAL INDEX KEY:** 0001817655

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**MAIL ADDRESS:**
- **STREET 1:** 13850 MANCHESTER RD
- **STREET 2:** C/O 1847 GOEDEKER INC.,
- **CITY:** BALLWIN
- **STATE:** MO
- **ZIP:** 63011

## Exhibit 99.1

**Exhibit 99.1**

<u>JOINT FILING AGREEMENT</u>

Pursuant to and in accordance with the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules and regulations thereunder, each party hereto hereby agrees to the joint filing, on behalf of each of them, of any filing required by such party under Section 13 of the Exchange Act or any rule or regulation thereunder (including any amendment, restatement, supplement, and/or exhibit thereto) with the Securities and Exchange Commission (and, if such security is registered on a national securities exchange, also with the exchange), and further agrees to the filing, furnishing, and/or incorporation by reference of this agreement as an exhibit thereto. This agreement shall remain in full force and effect until revoked by any party hereto in a signed writing provided to each other party hereto, and then only with respect to such revoking party.

IN WITNESS WHEREOF, each party hereto, being duly authorized, has caused this agreement to be executed and effective as of the date set forth below.

Date: December 19, 2025

---

| | |
|:---|:---|
| CRC Investment Fund LP | CRC Investment Fund LP |
| **Signature:** | /s/ Clark R. Crosnoe |
| **Name/Title:** | Clark R. Crosnoe, Managing Member |
| **Date:** | 12/19/2025 |
| NM 2018 Trust dated April 4, 2018 | NM 2018 Trust dated April 4, 2018 |
| **Signature:** | /s/ Clark R. Crosnoe |
| **Name/Title:** | Clark R. Crosnoe, Attorney-in-Fact |
| **Date:** | 12/19/2025 |
| AMC Legacy Trust dated December 21, 2012 | AMC Legacy Trust dated December 21, 2012 |
| **Signature:** | /s/ Clark R. Crosnoe |
| **Name/Title:** | Clark R. Crosnoe, Attorney-in-Fact |
| **Date:** | 12/19/2025 |
| Clark R. Crosnoe | Clark R. Crosnoe |
| **Signature:** | /s/ Clark R. Crosnoe |
| **Name/Title:** | Clark R. Crosnoe |
| **Date:** | 12/19/2025 |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** cbdMD, INC.

**Title of Class of Securities:** Common Shares

**CUSIP Number:** 12482W409

**Date of Event Which Requires Filing of this Statement:** 12/17/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>CRC Investment Fund LP | Names of Reporting Persons<br>CRC Investment Fund LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TX | Citizenship or Place of Organization<br>TX |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>361400.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>361400.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>361400.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>361400.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>4.1% | Percent of Class Represented by Amount in Row (9)<br>4.1% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** * See footnotes under Item 4

---

| 1. | Names of Reporting Persons<br>NM 2018 Trust dated April 4, 2018 | Names of Reporting Persons<br>NM 2018 Trust dated April 4, 2018 |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TN | Citizenship or Place of Organization<br>TN |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>56875.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>56875.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>56875.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>56875.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.6% | Percent of Class Represented by Amount in Row (9)<br>0.6% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** * See footnotes under Item 4.

---

| 1. | Names of Reporting Persons<br>AMC Legacy Trust dated December 21, 2012 | Names of Reporting Persons<br>AMC Legacy Trust dated December 21, 2012 |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TX | Citizenship or Place of Organization<br>TX |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>17875.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>17875.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17875.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17875.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.2% | Percent of Class Represented by Amount in Row (9)<br>0.2% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** * See footnotes under Item 4

---

| 1. | Names of Reporting Persons<br>Clark R. Crosnoe | Names of Reporting Persons<br>Clark R. Crosnoe |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>436150.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>436150.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>436150.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>436150.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>4.9% | Percent of Class Represented by Amount in Row (9)<br>4.9% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** * See footnotes under Item 4

---

**Item 1(a). Name of Issuer:**
cbdMD, INC.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
2101 Westinghouse Blvd., Suite A Charlotte, North Carolina 28273

**Item 2(a). Name of Person Filing:**
(i) CRC Investment Fund LP ("CRC LP"), (ii) NM 2018 Trust dated April 4, 2018 ("NM 2018 Trust"), (iii) AMC Legacy Trust dated December 12, 2021 ("AMC Legacy Trust"), (iv) Clark R. Crosnoe

**Item 2(b). Address of Principal Business Office:**
4801 W. Lovers Lane Dallas, Texas 75209

**Item 2(c). Citizenship:**
(i) Texas, (ii) Tennessee, (iii) Texas, (iv) United States

**Item 2(d). Title of Class of Securities:**
Common Shares

**Item 2(e). CUSIP Number:**
12482W409

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

See row 9 of the cover pages.

**(b) Percent of class:**

See row 11 of the cover pages.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See row 5 of the cover pages.

**(ii) Shared power to vote or to direct the vote:**

See row 6 of the cover pages.

**(iii) Sole power to dispose or to direct the disposition of:**

See row 7 of the cover pages.

**(iv) Shared power to dispose or to direct the disposition of:**

See row 8 of the cover pages.
Mr. Crosnoe is the sole member of CRC Investment Fund GP, LLC, the general partner of CRC LP., and has investment authority with respect to the securities directly beneficially owned by NM 2018 Trust and AMC Legacy Trust.  Mr. Crosnoe disclaims beneficial ownership of securities directly beneficially owned by CRC LP and each of the trusts except to the extent of his pecuniary interest therein.
Percent of class owned is based on 8,919,410 outstanding common shares as of November 6, 2025 (as disclosed in the Issuer's Form S-1 filed with the SEC on November 7, 2025).

**Item 5. Ownership of Five Percent or Less of a Class.**

[ ] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**CRC Investment Fund LP**

**Date:** 12/19/2025

**By:** /s/ Clark R. Crosnoe

**Name & Title:** Clark R. Crosnoe, Managing Member

**NM 2018 Trust dated April 4, 2018**

**Date:** 12/19/2025

**By:** /s/ Clark R. Crosnoe

**Name & Title:** Clark R. Crosnoe, Attorney-in-Fact

**AMC Legacy Trust dated December 21, 2012**

**Date:** 12/19/2025

**By:** /s/ Clark R. Crosnoe

**Name & Title:** Clark R. Crosnoe, Attorney-in-Fact

**Clark R. Crosnoe**

**Date:** 12/19/2025

**By:** /s/ Clark R. Crosnoe

**Name & Title:** Clark R. Crosnoe