POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) has been a true recent leader in the CBD wing of the cannabis patch. That spirit apparently continues with the POTN’s latest news: POTN just announced that its wholly owned subsidiary, Diamond CBD, Inc., has delivered yet another considerable increase in revenues month over month. For the month of July 2017, it achieved record breaking revenues of $1,459,137, which exceeded its June 2017 results by more than 30%. However, we must note that this is a pink sheet company producing unaudited financial data, so caveat emptor.
“We are very pleased with how the numbers have continued to gain over the summer. We are consistently setting new sales records month after month and are excited to be able to report this type of continuing growth. We have taken our marketing efforts seriously. A commitment that is surely being revealed in the ongoing sales numbers,” stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (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 messaging 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 has become a true go-to player in terms of delivering actual sales growth in the CBD space. As noted above, our sense of this financial performance must, of course, be taken with a grain of salt given the company’s lack of audited financial data. However, be that as it may, the results, if one does grant them the benefit of the doubt, could be seen as quite impressive relative to the space.
According to the release, “the Company recently reported that, based on earlier filed financial statements with OTC Markets, PotNetwork Holding Inc. is on track to exceed its projections set forth for 2017. With reported revenues of $5,077,625 for the first 6 months of fiscal 2017, and a net profit of $369,237, the Company concluded the first half of 2017 with a positive net cash flow of $395,009.”
Recent action has seen -3% cut out of share pricing for the name in the past week. Market participants may want to pay attention to this stock. POTN has a history of dramatic rallies. What’s more, the stock has registered increased average transaction volume recently, with the past month seeing 16% beyond what we have been seeing over the larger time frame.
Currently trading at a market capitalization of $4.09M, POTN has about $133K in current cash on the books, which must be weighed relative to about $299K in total current liabilities. The company has apparently taken in over $2M in revenues on a trailing twelve-month basis. The growth in sales was well noted above. Once again, we should reiterate that this is a pink sheet name reporting only completely unaudited financial data. We will update the story again soon as developments transpire. Sign up for continuing coverage on shares of $POTN stock, as well as our 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.