Players Network (OTCMKTS:PNTV) is trying to make a new move and pull itself off the mat once again. This former high-flyer in the cannabis patch has been a relative underperformer in the space over the past 5 months, but was once the bell of the ball, racking up massive gains last Fall and during the first few months of 2017. To juice the story back up, the company just announced a strategic partnership and Development Agreement with NightFood Holding, Inc. (OTC: NGTF) to develop a CBD infused line of nighttime snacks.
According to the release, “NightFood is a category leading, sleep-friendly, functional-food and better-for-you snack company, which is fully reporting and publicly traded. Yesterday, NightFood announced the engagement of Marijuana Accelerator’s Managing Director Jeffrey Robinson as a consultant to advise the company on the creation of an edibles line of cannabidiol (also known as CBD) infused products which would enter the cannabis marketplace under a new brand name, yet to be established. Marijuana Accelerator is a Division of PNTV currently working on unique, scalable projects which utilize technology to better serve the marijuana industry.”
Players Network (OTCMKTS:PNTV) trumpets itself as a diversified holding company operating in marijuana and media. PNTV owns approximately 85% of Green Leaf Farms Holdings, LLC (Green Leaf Farms) which has Nevada state-issued medical and recreational cultivation and production license(s).
The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. Green Leaf Farms is operational and has started generating revenue.
WeedTV.com is a wholly owned subsidiary developing a social network and lifestyle channel destination for the marijuana industry. WeedTV.com is launching the “go-to” source for information, entertainment, products and services for people who relate to the marijuana lifestyle and an active social community.
Marijuana Accelerator is a division of PNTV which has established an ecosystem for the marijuana industry designed to connect entrepreneurs with investors and develop partnerships. Marijuana Accelerator’s mission is to “identify and develop ventures in the marijuana industry.
According to company materials, “Player’s Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 89% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within our media operations.”
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As discussed above, PNTV was one of the stronger names in the cannabis space for a period that ended a few months ago. The stock has pulled back sharply in recent months, dropping over 75% of its value in that time. But the company is taking strategic action to reignite the story, announcing last week that it is moving into a partnership that will possibly demonstrate some its inherent synergies given its relatively interesting combination of both media/marketing and production of cannabis-related goods through its subsidiaries. The new edition to this puzzle is an outside company in NGTF.
“NightFood is the first example of how a company can benefit tremendously from the entire business model of PNTV and how the accelerator acts as a catalyst in finding hidden gems,” says Brett H. Pojunis, member of PNTV’s Board of Directors and Co-Managing Director of Marijuana Accelerator. Pojunis continued “NightFood’s business model begs the question, why hasn’t anyone successfully done this yet? Sean Folkson (CEO of NightFood) is first to the nighttime nutrition market with a real solution, and we are thrilled to be along for the ride while we address this multi-Billion dollar problem!”
“One of my lifes passions is connecting smart people and amazing projects,” says Jeff Robinson, Co-Managing Director of Marijuana Accelerator. Robinson continued, “NightFood is a perfect example of an amazing project that simply needed to be connected with the right people.“
Earning a current market cap value of $51.9M, PNTV has virtually no cash on the books, which stands against about $464K in total current liabilities. PNTV is pulling in trailing 12-month revenues of $138K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 7538.5%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $PNTV 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 $PNTV, either long or short, and we have not been compensated for this article.