POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN), or Potnetwork Holdings, was up over 200% in just one week recently. The stock was up over 1,300%, and it could continue its rise after these recent events.
PotNetwork Holdings current has two wholly-owned subsidiary companies, which includes First Capital Venture, the makers of Diamond CBD OILS, and Sunrise Auto Mall Inc. Diamond CBD Inc is an organization primarily focused on research and development (R&D) of the cannabis industry’s finest premium hemp extracts and potentially making these extracts available to markets across the globe.
Now, POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) recently announced that after the recent acquisition of Diamond CBD, and due to the positive changes in the company’s strategy and corporate direction, the company is looking to move to Colorado. PotNetwork Holdings filed Articles of Organization to move the company and its subsidiaries from Wyoming to Colorado, the filing was approved and was immediately effective. Consequently, this could potentially increase the company’s earnings and revenues over the long term, due to the state laws regarding legal cannabis in Colorado.
According to the National Institute of Drug Abuse (NIDA), CBD oil might actually be effective in controlling epileptic seizures, reducing pain and inflammation. Additionally, CBD oil could also be an effective treatment for mental health disorders, such as addiction and various forms of psychosis.
The company stated, “This is another significant milestone in the Company’s reorganization. Having maintained a good standing with Wyoming, the original state of registration, the domicile transfer to Colorado was completed seamlessly. We are proud to now be officially recognized as a Colorado company.”
Now, PotNetwork’s subsidiary Diamond CBD recently received over $250K in purchase orders at the 36th Las Vegas CHAMPS Event. That said the company has a robust product line, and there could be increasing demand for its products. Diamond CBD Vice President of Sales Justin Darman stated, “We are confident that the time and effort invested into building our brand and creating a presence in the marketplace will result in great success for the company and its shareholders.” He concluded: “We firmly believe that the greatest potential for a high level of success is when timing and opportunity meet. At this infancy stage in the industry, it’s evident that as well as we are doing now, our growth potential here can still be exponential.”
Now, when speaking on the acquisition of Diamond CBD, PotNetwork Holdings CEO Gary Blum, stated, “This advantageous acquisition empowers the Company to continue building a growing presence in the marketplace with its entrance into the CBD essential oil manufacturing sector. Like every aspect of this budding industry, the CBD sector is poised for strong growth. In our search for lucrative venues for expansion, this opportunity has proven to have the best upside potential for Management and shareholders alike.”
Blum continued, “We are keenly focused on enhancing the overall revenue generating potential and shareholder value of our Company, and want to once again thank our shareholders for their continued support as we embark on this new endeavor. This acquisition, involving the mobilization of a new revenue generating operation, demonstrates Management’s resolute drive to become a notable contender, capitalizing on the expansion of the cannabis industry.”
PotNetwork Holdings CEO concluded, “The size of the market for legal marijuana in the United States was projected to grow to $7.1 billion in 2016, according to a report by New Frontier and ArcView Market Research. That represents 26% growth over the previous year, according to research cited on Forbes.com website. Management concurs with the growing understanding that CBD oil offers tremendous potential in the medical field.”
PotNetwork Holdings could continue its recent rise due to its recent company news. POTN is now moving to Colorado, which has relaxed state laws when it comes to cannabis. Consequently, this could boost the company’s earnings. Stay up to date with any developing news on POTN by simply entering your email below…You could get updates on POTN for absolutely nothing, it’s 100% free of charge.