PotNetwork Holdings Inc (OTCMKTS:POTN) continues to surge back into the momentum rankings as the stock experiences a renaissance of attention from traders on the OTC that got into gear last month. The company continues to build on the success of its CBD oil brand at a time when that segment of the cannabis space is picking up momentum as perhaps the leading growth area in the sector. And this dynamic is now mixing with excitement about the potential for a near-term uplisting based on accounting progress.
The company just announced, “in accordance with management’s commitment to keep shareholders fully informed, that it has been updated with the report that the audit is nearing completion, and is expected to be finalized by month end.” This is another strong catalyst as the company continues to solidify its public financial underpinnings.
PotNetwork Holdings Inc (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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As noted above, the stock has been back into strong momentum gear over the past month. One of the factors helping to push the story right now is an issue we have reported on in the past: the company is getting its records audited to help spark an uplisting that it believes may eventually lead to a big board placement.
According to the release, the company is preparing for its Regulation A filing, which is expected to enable PotNetwork Holding, Inc. to be up-listed to the OTCQB, where the Company will have greater visibility before a larger group of qualified investors. This is the Company’s next milestone in its long-term strategy of achieving a NASDAQ Capital Market listing.
“Our commitment to transparency involves keeping our investors fully informed. Although the process is time-consuming, we believe that this will be one of the most important steps in achieving our goal,” states PotNetwork Holding CEO Rick Goulding.
Traders will note nearly 480% added to share values of the stock over the past month of action. This is emblematic of the stock. POTN is a stock with a past that has featured a litany of sudden rips to the upside. Furthermore, the company has seen interest climb, with an increase in recent trading volume of above 180% over what the stock has registered over the longer term.
Now commanding a market cap of $100.3M, POTN has about $576k in cash on the books as of its latest reporting documentation, which compares favorably with about $30k in total current liabilities. The company pulled in about $4.4M in sales for the quarter ended September 30, 2017. You can bet we will update this one again as new information comes into view. 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.