PotNetwork Holdings Inc (OTCMKTS:POTN) has been one of the most dramatic stories on the OTC so far in a young 2017. The stock came into the year around $0.10/share and took off almost immediately, eventually touching $0.96/share on an intraday basis just a couple weeks later. Well, what goes up must come down, and such has been the case for POTN over the past few days, with shares diving back down to test the $0.50/share area to start this week.
To perhaps reignite the mojo, the company just announced that Diamond CBD will be exhibiting at “TPE 2018,” a leading event intended to enable enthusiasts and entrepreneurs to interact widely with industry counterparts and experts. According to the release, “featuring informative keynote speeches and educational sessions on topics and issues impacting today’s tobacco, vape, and alternative industries, TPE 2018 presents the IGNITE | Sparking Innovation & Insight event.”
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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According to the release, “Diamond CBD will be showcasing at Booth 8126, conveniently located near the Food service section. Management is enthusiastically continuing to broaden the Company’s prospective audience. The global cigarette market today represents a multi-billion dollar industry, and according to IMARC group, its total revenues reached values worth US$ 816 Billion in 2016. A recently published market intelligence report, ‘Global E cigarette and Vape market 2017-2025,” suggests that the vaping industry is expected to become a $46.9 billion industry by 2025.’”
Finalization on the audit process continues. “We plan to complete our unaudited financials for 2017 and expect to have them posted early. We anticipate within the next couple weeks. We strive to do all within our control to keep our shareholders informed in a timely manner,” stated Richard Goulding, Chief Executive Officer, PotNetwork Holding Inc. He concluded, “As per the audit, we understand it’s a lengthy process, and continue to patiently wait. We remain committed to promptly informing investors as soon as finalization completes.”
We’ve witnessed 68% tacked on to share pricing for the name in the past month. The situation may be worth watching. POTN has evidenced sudden upward volatility on many prior occasions. Moreover, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running approaching 260% over the long run average.
Currently trading at a market capitalization of $113.4M, POTN apparently has about $576k in cash on the books as of its latest reporting documentation, which compares quite favorably with about $30k in total current liabilities. The company has also pulled in about $4.4M in sales for the quarter ended September 30, 2017. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.