We’ve tracked POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) for quite some time now, and identified it as a fast growing cannabis outfit, and the company has continued that impressive expansion by reacquiring one of its previously sold properties, and setting a lofty goal for it.
The progress it has made with its existing business has also been impressive with the company recently announcing a significant quarter-over-quarter revenue rise.
POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) regained control of PotNetwork.com, an online resource originally designed to become a leading industry specific news and content provider for the cannabis marketplace. After prior management changes, and a shift in corporate focus, PotNetwork.com was previously sold in March 2016.
According to Forbes Magazine, a controlling interest of High Times Magazine, an industry pioneer in the counter-culture arena, was acquired at a price that values the magazine at $70 million. PotNetwork.com is being completely renovated in preparation of creating a presence in that cannabis digital news and entertainment sector.
PotNetwork.com will be developed into a counter-culture, cutting-edge digital magazine, publishing up-to-date news and articles on the cannabis industry. Upon conclusion of the transaction, PotNetwork.com will operate as a wholly owned subsidiary of the POTN. Management has initiated plans to revamp the graphic design, diversify and enrich PotNetwork.com’s editorial content to include a full range of industry and related consumer topics. It is anticipated that such enhancements, when fortified by a targeted marketing campaign, will serve to increase web traffic and page views, ultimately monetizing the site as a comprehensive industry informational resource
Through the future implementation of streaming video broadcasting technologies, PotNetwork.com is expected to be the first of the Company’s ventures set to create an influential presence in the evolving cannabis marketplace. Management’s newly enhanced growth strategy has been structured to not only strengthen brand recognition and top-of-mind awareness, but broaden PotNetwork Holding’s interest in the industry. (Source: BusinessWire)
It has also been reported that POTN’s wholly owned subsidiary, Diamond CBD, Inc. which sells cannabinoid-infused edibles, reported June sales of $1,113,032, surpassing $1 Million for the month again, and exceeding first quarter revenues by over 70%.
With the recent strengthened demand, Management has moved to expand manufacturing. “‘In consideration of how the first half of this year has evolved, our expectation only gets more exciting. The trajectory for this year continues in a positive direction as we look toward the next busy quarter,” stated Maria Gomez, Regional Vice President of Sales of Diamond CBD, Inc. After a record breaking 1st quarter, and a highly productive road show, the Company continues strategizing for the development and sustaining of solid long-term growth.
The trend of record breaking quarters continues with strong momentum. Diamond CBD has reported that the past six months of trade show, expo, and convention attendance, demonstrating Management’s determined commitment to achieve strong results, had yielded product demand requiring significant expansion of its manufacturing operations, which the Company is managing successfully. (Source: BusinessWire)
With one of its arms continuing to do increased business, and the lofty plans the company has for the PotNetwork.com property, we’ll be very interested to continue tracking the considerable progress of POTN. Stay locked to Street Register for updates, and we’ll continue to deliver important developments on POTN as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in POTN stock, short or long.