PotNetwork Holdings Inc (OTCMKTS: POTN) got a boost in volume and price after the Company released their fully audited financial statement which shows that the company has made $25 million in revenue over the course of 2018, a 78% increase compared to POTN’s performance in 2017.
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. The company took advantage of its momentum to expand its research and development, educational marketing campaigns, and successful distribution of an ever-growing range of hemp-derived cannabinoids and other natural hemp derivatives. PotNetwork Holdings also reported that sales of Diamond CBD Products are coming 60% from its wholesale distribution network and 40% from online sales including from diamondcbd.com
PotNetwork Holdings is a publicly traded company that acts as a holding company for its 6 subsidiaries including its flagship, First Capital Venture Co & its wholly owned subsidiary Diamond CBD, Inc., Blockchain Crypto Technology, Corp., Grinder Distribution, Inc., PNH Holdings, Inc., and SND Auto Group, Inc., POTN flagship Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Located at diamondcbd.com, the Comapany sells a wide assortment of oils, vapes, edibles, drinks, dabs, creams and even CBD for Pets. Diamond CBD sells a collection of cannabis industry brands including Blue CBD Crystals Isolate, Chill Plus Gummies, Relax Extreme CBD, CBD Biotech Cream, Relax Vape Liquid, CBD Re-Leaf, Chongs Choice CBD and may more.
Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils and E-Liquids found anywhere. PotNetwork Holdings Inc. is committed to growth by the expansion of its subsidiaries and the strategic acquisition of additional businesses.
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Driven by the growth of its wholly-owned subsidiary, Diamond CBD, Inc., PotNetwork Holdings, Inc. has taken root as an industry leader in the growing market for premium hemp extracts. PotNetwork Holdings is expanding its research and development, multinational marketing and international distribution of a broad range of hemp-derived cannabinoids and other natural hemp derivatives.
In its bid to up-list Potnetwork filed its Form 10 registration statement which included independent third party PCAOB auditor certification of its financial performance for all of 2017 and verification of its financial results through the first 6 months of 2018. Going forward, all such financial information will be PCAOB auditor verified. Through submission of the filing, the Company has voluntarily become subject to the full disclosure requirements of the SEC for reporting companies, and the Company must have each quarter’s fiscal performance PCAOB auditor reviewed and its year-end statements fully audited by a PCAOB member firm. Now as a reporting company, PotNetwork Holdings, Inc. qualifies for up-listing to the OTCQB market tier.
Kevin Hagen CEO stated on the recent revenues:
“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.”
In addition to their financial statements the company will shortly be releasing an open letter to shareholders providing an update on all of the activities of the past year and putting the company’s situation and successes into context.
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Currently trading at a $103 million market valuation POTN is a really exciting company that has seen its revenues skyrocket to $25,583,761 for the year ended December 31, 2018. PotNetwork Diamond CBD brand is considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere establishing itself as an early market leader in the booming market for premium hemp extracts. PotNetwork has breakout sales, is up-listing to the OTCBB, has a history of huge moves and is already highly liquid as a fast growing shareholder base bids it higher. We will be updating on POTN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with POTN.
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Disclosure: we hold no position in POTN either long or short and we have not been compensated for this article.