One stock that shown an interesting signal to some other stubborn players in the OTC is PotNetwork Holdings Inc (OTCMKTS:POTN). The company just announced its fully audited financial statement, showing that the company made $25 million in revenue over the course of 2018, a 78% increase compared to POTN’s performance in 2017. You’ll notice the stock ripped higher. We would pay particular attention to the words “fully audited” – ahem, we’re looking at you, MJNA.
According to the release, “This growth has been driven primarily the company’s wholly-owned subsidiary, Diamond CBD, Inc. The company has cemented its position as an industry leader in the growing market for premium hemp extracts. It has seen success by leveraging an aggressive marketing campaign focused on educating consumers about CBD and demonstrating the company’s unique suite of niche CBD products.”
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 its fully audited financial statement, showing that the company made $25 million in revenue over the course of 2018, a 78% increase compared to POTN’s performance in 2017.
We’ve witnessed 20% tacked on to share pricing for the listing in the past week. Furthermore, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 12% beyond what we have been seeing over the larger time frame.
“I am extremely pleased with our year-over-year growth,” said Kevin Hagen, CEO of PotNetwork Holdings, Inc. “These fully audited financial statements underline an incredible year for PotNetwork Holdings and are the culmination of a lot of hard work and are a sign of great things to come over the course of the next year.”
Earning a current market cap value of $93.98M, POTN has a store ($248K) of cash on the books, which stands against 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 developments 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.