It’s been quite some time since we last talked about Players Network (OTCMKTS:PNTV) here on Street Register. The last time, we discussed the company’s stake in a state of the art, marijuana cultivation facility in Las Vegas, shortly before recreational sales began there.
Green Leaf Farms, the 27,000+ square-foot facility, is fully staffed with a pro team of growers, and holds the proper marijuana growing licenses by the State of Nevada that allow the Company to supply recreational and medical marijuana products to Nevada-based retail dispensaries. But the 89% interest PNTV holds in the venture is not even part of its primary business, which is the subject we’d like to discuss today.
More recently, in what must be considered a win for Players Network (OTCMKTS:PNTV), the company has reported on the resolution of a long-standing dispute with a very large corporation, without litigation. It was announced that PNTV had reached an out of court settlement of its lawsuit against Comcast Corporation (NASDAQ: CMCSA).
In early 2014 Players Network filed a complaint against CMCSA, and now, under terms which are confidential, puts an end to the dispute over Players Network’s Vegas On Demand Television Network.PNTV was a pioneer in the creation of Vegas On Demand which was one of the first independently owned VOD networks on CMCSA’s Video On Demand platform and ran from April 2004 through November 2015. The Vegas Gaming and Lifestyle Network also gained distribution on virtually every major cable network, OTT and Satellite platforms including, but not limited to; DirecTV, Dish, AT&T U-verse, Verizon Fios, HULU and Google Video.
“Despite this lawsuit, we were grateful for the opportunity to expand our programming and create a better business model for monetizing digital, interactive networks,” said PNTV CEO Mark Bradley. Bradley continued “this experience pushed us to reinvent our self as a company, and expand our platform and technology in a way that I believe will become the standard and outperform any new network in both viewership and revenues.”
Michael Berk, Board Member and Chief Creative Officer states; “I believe the business model we developed for our new networks will change the way new networks are developed and specifically how they conduct their business models.” (Source: Marketwired)
Getting back to the company’s cannabis interests, PNTV’s Green Leaf subsidiary is working with NightFood Holdings, Inc (OTCMKTS:NGTF) to start developing a line of CBD-infused nighttime edibles. Green Leaf will be responsible for the cultivation and extraction of the CBD oils to infuse into the new line of products, which would be formulated to support and promote better sleep. Green Leaf will ensure NightFood is fully compliant with all Nevada Cannabis rules and regulations including, but not limited to; labeling and recipes. In addition, Green Leaf will provide all sales and distribution to dispensaries throughout the State. (Source: Marketwired)
The other attractive part about PNTV at the moment is the chart itself, which recently set and recovered from a new low of .052/share back in October. Presently, shares have briefly cracked through the ten cent barrier, making nearly a one hundred percent move in just a few weeks. We’ll want to monitor the situation on the chart, as well as stay tuned for more information on operations. Stay locked to Street Register for updates, and we’ll deliver important developments on PNTV 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 PNTV stock, short or long.