Our coverage of POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) here on Street Register has mainly focused on the company’s rapid expansion in terms of its cannabis operations, and today we are taking note of its respectable financial growth.
As for the stock itself, it’s been making an effort to rebound off of recent relative lows just under a nickel, and a series of solid announcements made in recent days could be cause for a sustained boost.
POTNETWORK HLDGS I COM USD0.0001 (POST REV SPLI (OTCMKTS:POTN) announced that based on earlier reported filed financial statements with OTCMarkets, PotNetwork 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.
When compared to the annual forecast of $8,300,000 set forth earlier this year, management expects that 2017 will conclude with significantly strengthened expectation. SeeThroughEquity recently stated in an earlier Research Report, “The Company has made considerable progress over the last few years . . . .Going forward in FY17, we expect POTN to increase revenues approximately 712% to $8.3 million through new product launches, aggressive marketing initiatives and entry into new markets.”
“We remain steadfast in our efforts to build real value in our Company. The level of acceptance we are experiencing can only be surpassed by our short and long-term vision for growth. As we continue to accelerate in sales performance, we embrace the opportunity to create a real and tangible success which we expect would ultimately be reflected in shareholder value,” stated Gary Blum, Chief Executive Officer
In addition, POTN’s wholly owned subsidiary, Diamond CBD, Inc., also announced it has delivered yet another exponential increase in revenues year over year. For the month of May 2017, it achieved record breaking revenues of over 1 million dollars, which exceeded its May 2016 results by more than 1,300% over last years revenues of $70,444.
“We are on fire! We are consistently setting new sales records month after month as the sales momentum continues to build. Moreover, our ongoing aggressive marketing strategy continues to build consumer and industry awareness which is clearly evident as we go from one exciting industry event to another,” stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
Since the beginning of the year, Diamond CBD has pursued an aggressive multi-faceted growth plan, which has included a broad representation at various key industry trade shows and conventions, and a strong consumer and industry communications strategy that has yielded a huge spike in consumer and industry brand recognition for its specialty products.
As a result, the Company recently announced that Diamond CBD, Inc. had achieved a groundbreaking first quarter 2017 sales result of $1,858,347.48, which exceeded in one month the total sales volume of $1,663,081.78 for the entire twelve calendar months of 2016. In addition, Diamond CBD, Inc. has recently celebrated the distribution of 1 million Chill Gummy edibles, an ongoing accelerating order flow, and the distribution of its products in approximately 10,000 retail locations nationwide. (Source: Business Wire)
As we said, POTN has been a company we’ve been interested in for some time, and it continues to show why with solid numbers growth and continued cannabis expansion. 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.