PotNetwork Holdings Inc (OTCMKTS:POTN) is seeing a nice pop in price today after the company released financial results from 2017. POTN reported sales of $14.5M with profits exceeding $5M. This is good news for the company as the market has recently been stripping POTN of some value.
Furthermore, POTN Senior Advisor Bruce Barren recently confirmed that the Company’s $2 million monthly revenue run rate for both January and February of 2018 sets the stage for the firm to meet and exceed its Q1 ’18 revenue projection of $6,000,000. This is the potential driver of positive action for POTN, but the company still has a ways to go to return to its highs from earlier in 2018.
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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In addition to these strong results, POTN has looked to venture into the African market, which has not yet been tapped in the cannabis world. According to the company, the African continent is comprised of over 1.2 billion people living in 54 sovereign states and 10 non-sovereign territories. Combined, the gross domestic product (GDP) of the continent represents over $3.4 trillion. As an addressable cannabis market, Africa represents a clear opportunity for POTN. and its subsidiaries specifically Diamond CBD.
Verbatim from the recent press: “These events affirm Diamond CBD Inc.’s interest to place corporate social responsibility and charitable contribution at the core of its international business development. The events planned allow the brand to position itself as a strategic partner in efforts to protect the environment, assist those in need and support projects which offer a clear net social impact to the people of Kenya.”
POTN has orchestrated a 10-day trip that will host events benefiting local African non-profits. This represents a bold move to attempt to cultivate a new distribution channel.
Currently trading at a market capitalization of $89M, POTN has some nice sales behind it, but the company needs to string together a couple solid trading days to maintain investor confidence. We will be updating readers as more news come out. 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.