POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) could not have scripted a better start to 2018, they are right in the middle of the California Green Rush that is sweeping the industry. POTN has lumped on another 18% increase along with volume that is up 120% over a five-day span. The company certainly enjoyed 2017 and made it known with a press release and the back-slapping is well-deserved. POTN put together some very nice partnerships and seem to be fully ready to handle all that the California legalization process can give them.
“To say that we are pleased with this past year’s achievements, is an understatement. Sales were wildly beyond expectations, proving the market knows good and needed products, and it’s responding. We are now harnessing the momentum with a host of new products that we will be testing and offering, embracing the unique and as yet undiscovered effects of CBD,” stated Richard Goulding, Chief Executive Officer, POTN.
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.”
POTN’s message 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.
POTN 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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Solid financials have also been fundamental in turning around POTN. For the month of August 2017, Diamond CBD achieved record-breaking revenues of $1.7 million, which exceeded July revenues by 20.9%. Second quarter and year-to-date operating results confirmed PotNetwork Holding’s revenues maintained strong growth with performance continuing to exceed 2017 projections. With reported revenues of $5 million for the first 6 months of fiscal 2017 and a net profit of $0.3 million, the company concluded the first half of 2017 with a positive net cash flow of $0.395 million. Based on earlier reported financial statements, the company continues on track to exceed its projections established for 2017. In July 2017, it achieved record-breaking revenues of $1.46 million, which exceeded its June 2017 results by more than 30%.
Now holding a market cap of $13.04M, POTN has the revenues now to turn the corner and became a bigger name in the space. The company is now looking to turn some of its partnerships from last year into serious drivers for 2018 and the market is perfectly ripe for it. Sign-up for continuing coverage on shares of $POTN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $POTN, either long or short, and we have not been compensated for this article.