POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) is a penny player with some diverse operations, though the money maker at this point appears to be the company’s subsidiary aimed at CBD oils. Recent action has been a bit of a sideways chop after an extremely powerful rally through most of May and June.
POTN just came to the wires with a new press release announcing that this aforementioned wholly owned subsidiary, Diamond CBD, was recently showcased at the CHAMPS Trade Show held at the Las Vegas Convention Center last week, and generated record-breaking results with orders reaching $300,000 over the 3 days featured at the event.
In all, we’ve witnessed in excess of -20% stripped out of share pricing for the company in the past week. That said, traders should keep in mind the fact that POTN has a track record that includes a number of dramatic bounces. In addition, the listing has registered increased average transaction volume recently, with the past month seeing 64% beyond its prior sustained average level.
POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) has two wholly owned subsidiaries, First Capital Venture, the makers of Diamond CBD OILS and Sunrise Auto Mall Inc..
Diamond CBD is focused on the advanced research and development of “the industry’s finest premium hemp extracts” and making them available to the global marketplace. The Company’s “notable team”, consisting of hemp industry pioneers and natural product experts, chemists, and scientists, is dedicated to producing “the finest and purest Cannabidiol (CBD) oil.”
The company’s messaging continues: “Setting the Company ahead of its competitors, First Capital Ventures Inc and Diamond CBD Inc. deliver advanced product quality to market through the team’s creation of diverse and top quality hemp extracts that contain a broad profile of cannabinoids and other natural hemp derived molecules.
The result is a robust selection of Diamond CBD Oils, made from Industrial Hemp, which enhances the formula to be considered among the most powerful natural CBD E-Liquids on the market. Sunrise Auto Mall, Inc., launched in June of 2014, as an operation geared toward enabling people challenged with bad or no credit in securing quality transportation while simultaneously rebuilding the client’s credit.
The company has developed a highly profitable business model around the continually rising subprime lending industry. Potnetwork Holdings Inc. acting as the holding company for the present subsidiary is planning to continue to expand from within as well as through future acquisitions.”
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As noted above, POTN shares have been consolidating of late despite some strong press, the latest of which was the company’s announcement that its wholly owned subsidiary Diamond CBD was recently generated record-breaking results at a trade show, with orders reaching $300,000 over the 3 days featured at the event.
The release, paints the CHAMPS show as follows: “Drawing exhibitors, entrepreneurs, and enthusiasts from across the country, this massive event is designed to enable vendors to unveil and market the industry’s newest cutting-edge products to distributors, wholesalers and retailers. The CHAMPS Trade Shows have been a staple in the counterculture industry for eighteen years, continually experiencing growth as the market continues to evolve. Since 1999, CHAMPS has hosted premier exhibitors in the industry and draws industry leaders, retailers and consumers in the thousands from all over the globe.”
Apparently, these events have been quite good to POTN. This was the third CHAMPS show of 2017, the first two yielded the Company valuable publicity, and record sales. The Summer Vegas Trade Shows are historically the second largest and second most attended CHAMPS shows of the year.
Now commanding a market cap of $4.16M, POTN has about $133K in reported cash on the books, which is balanced by about $231K in total current liabilities. The company just started booking sales with an explosive print in March of nearly $2M on the top line. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $POTN stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $POTN, either long or short, and we have not nsated for this article.