PotNetwork Holdings, Inc. (OTC Pink: POTN) is a holding company that primarily focuses on marijuana, CBD extracts, and more. However, the company does also own the Sunrise Auto Mall, Inc., which is engaged in auto sales. Shares of the primarily cannabis holding company are climbing 13.64%, through early trading on Tuesday, March 28, 2017. Over the past three months, PotNetwork Holdings, Inc. has seen average daily volume of 2.95 million shares. However, volume of 2.26 million shares or dollar volume of $113,000, has already exchanged hands early Tuesday.
Shares of PotNetwork Holdings, Inc. are rallying Tuesday, after the company forecasts revenues from its Diamond CBD, Inc. subsidiary to come in around $1.7 million, during the first quarter of 2017. If this revenue level is reached, Diamond CBD will have earned more in the first quarter 2017 than all four quarters of 2016 combined. During full year 2016, Diamond CBD reported revenues of $1.66 million. Here is the full press release detailing of the revenue forecast:
PotNetwork Holdings, Inc. Press Release:
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–PotNetwork Holdings, Inc. (OTC Pink: POTN) announced today that upon starting 2017 with the advantageous acquisition of Diamond CBD, Inc. and the Company’s transition back into the cannabis, hemp and related markets, coupled with Diamond CBD’s robust sales pipeline, the Company is projected to generate over $1,700,000.00 in gross revenues during the first quarter of 2017 alone.
Regarding developments, Maria Gomez, Regional Vice President of Sales, Diamond CBD, stated: “As the marijuana sector continues to expand, so has our corporate vision and drive for brand distinction and differentiation. For Diamond CBD, sales have accelerated from $1,663,081.78 for the 4 quarters of 2016 to a pace that will probably exceed $1,700,000.00 for the 1st quarter of 2017, meaning that we’ve established significant momentum for the remainder of this year. Even if sales only remain consistent, it would represent a revenue increase in the range of almost 400% percent, year-over-year.”
In accordance with the Company’s aggressive branding and marketing strategy, its subsidiary, Diamond CBD, Inc., exhibited at ASD Market Week, in Las Vegas, NV, an international event known to showcase the world’s widest variety of popular retail merchandise in a one-stop shopping experience. ASD Market Week boasts 45,000 buyers from 88 countries annually. Ninety-eight percent of these attendees have major purchasing power with the average buyer spending $82,500.00 per show, equating to $2.8 billion annually.
About Diamond CBD:
Diamond CBD focuses on research, development, and multi-national marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. 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. For more information, visit website at www.DiamondCBD.com.
About PotNetwork Holdings, Inc:
PotNetwork Holdings, Inc. (OTC Pink: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils, and Sunrise Auto Mall Inc.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words like “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.