After grinding to the downside for the better part of the past 13 months, PotNetwork Holdings Inc (OTCMKTS:POTN) shares caught a major bid on Tuesday to close up nearly 50%. The catalyst appears to be the company’s announcement of the arrival of its new Brain Chill Slushy Machines that will be available in stores located throughout South Florida.
According to the release, “These slushy machines serve frozen slush drinks, available in Wild Cherry, Cola, Grape, Blue Raspberry, Lemonade And Iced Coffee flavors, infused with high-quality CBD extract. Each 12oz cup of the Brain Chill Slushy contains 100mg of full spectrum CBD.”
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, POTN just announced the arrival of its new Brain Chill Slushy Machines that will be available in stores located throughout South Florida.
Recent action has seen 70% piled on for shareholders of the name during the trailing week. In addition, the company has seen interest climb, with an increase in recent trading volume of nearly 130% beyond what we have been seeing over the larger time frame.
CEO of Diamond CBD’s parent, PotNetwork Holdings, Inc., Kevin Hagen noted, “I’m ecstatic about these slushy machines! They’re great conversation builders, instrumental in building a positive rapport with customers about CBD, and why CBD is so beneficial. We expect these machines to be a huge hit for stores all across South Florida and we also wish to expand to other cities and states in the near future.”
At this time, carrying a capital value in the market of $96.54M, POTN has a reserve ($248K) of cash on the books, which compares with about $193K in total current liabilities. POTN is pulling in trailing 12-month revenues of $22.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 33.3%. We will update the story again soon as further details emerge. 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.