PotNetwork Holdings Inc (OTCMKTS:POTN) has been on the rise today – seeing a leap upward of +60% in early trading. The catalyst for POTN is one of the best kinds: a record revenue announcement. Through its subsidiary, Diamond CBD, POTN saw a monthly sales increase over 50%. The company exceeded $2 million in monthly sales, which is phenomenal for this company that this time last year was trading at a penny, now they are past 60 cents and going higher it appears.
“We have moved into 2018 with continuing growth in our sales results which has heightened our expectations for the year. In 2017 we experienced steady growth and with January’s sales reflecting continued month-over-month revenue gains, we are further encouraged that our overall product line and business strategies are working and on-target. These results prove that we are experiencing increasing consumer and reseller acceptance and preference of our product line, which we are committed to continue to refine and expand,” stated Chief Executive Officer, Richard Goulding, MD. He added, “2018 is our breakout year.”
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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Sticking to the financials, POTN and Diamond CBD exceeded projections for the 4th quarter by $8.3 million recording more than $14 million in revenues. This was about 70% more than the projections and was attributed to the increase in the company’s month-on-month sales growth. The high success came on the backdrop of a 42% increase in revenues between the second and third quarters of 2017 (2Q2017 and 3Q2017 respectively) from $3.1 million to $4.4 million. Furthermore, their profits also rose over the same period by over 36% to $293,997 from $215,560. Gould added: “We are poised to continue 2017’s growth during 2018 as we embark on new and unique marketing initiatives and embrace new opportunities with the potential of providing strong returns on investment for our shareholders.”
Trading at a market capitalization of $34.04M POTN is on a serious bull run right now and the cannabis bulls in general seem to be out. The volume is indicative of positive action with 10-day volume at 7.91M. 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.