PotNetwork Holdings Inc (OTCMKTS:POTN) jumped 32% to start the week stretching an impressive run that started in late December. The falling cryptocurrency market has buoyed cannabis stocks and if you look at POTN’s chart you will see the trajectory the company has been on as of late.
To be specific, in one month, POTN has gone from $0.06 to now near the $.50 mark. That amounts to a +500% increase and there is still room to grow as more and more legalization looms ahead. Furthermore, the company is in the process of uplisting to the OTCQB, which will bring in more eyes and larger investors.
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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Let’s take a look at the financials briefly – which are currently under audit as the company prepares for uplisting: 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 POTN’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%.
“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.
At this time, carrying a capital value in the market of $25.02M, POTN is working toward a milestone and the company’s current moves will bring increased transparency to the operation allowing more investors and volume. We think this is an exciting story and will be writing updates soon. 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.