We check in with POTNETWORK HLDGS I (OTCMKTS:POTN) fairly routinely here on Street Register, mostly covering the activities its wholly owned Diamond CBD subsidiary.
It’s the Diamond CBD business that is contributing largely to POTN’s rapidly rising revenues. The company reported some impressive figures this week for the month of April.
POTNETWORK HLDGS I (OTCMKTS:POTN) announce over $2 million in sales revenues recorded for the month of April. Compared with the $1,009,900 the company achieved in April of 2017, April 2018’s revenues represent a 98% year over year increase.
PotNetwork Holdings, Inc. subsidiary Diamond CBD, Inc. recently revealed that Diamond CBD’s Vape Additive, Liquid Gold Vape Juice, Chill Gummies, Tinctures and Biotech Creams, are the brand’s most successful products according to the 2018 Investor Relations FAQ, and are being sold in 1000’s of retail locations across the United States.
According to the PotNetwork Holdings, Inc. 2018 Investor Relations FAQ, Diamond CBD’s products are selling best in Texas, California, Florida, Georgia and New York. By virtue of Diamond CBD’s success in the 4 most populous states in the country, and with close to 25% of its revenues coming from ecommerce, Diamond CBD emerges as market leader in the U.S. domestic hemp-derived CBD oil market.
As Diamond CBD diversifies the marketing of its products, entering new and underdeveloped sectors and verticals such as the pet supply industry, wellness centers, health food channels, and fitness centers, it’s welcome news that U.S. and international legislators are looking with increasing approval at cannabis and hemp with a renewed focus.
In April of 2018, United States Senate Majority Leader Mitch McConnell (R-KY) introduced H.R.5485 the Hemp Farming Act of 2018, which if passed would remove federal Schedule I drug status, establishing the domestic federal legality of hemp-derived CBD oil products.
Also in April, advancements included the Federal Drug Administration (FDA) request for public comments regarding “the abuse potential, actual abuse, medical usefulness, trafficking, and impact of scheduling changes” of cannabis and related products such as hemp-derived CBD oil, ahead of the 40th meeting of the World Health Organization’s Expert Committee on Drug Dependence (ECDD).
The 40th WHO ECDD Conference is scheduled for June 2018 in Geneva, Switzerland, and many hemp and cannabis industry experts expect it will have long term ramifications on global policies and views towards these valuable natural substances.
PotNetwork Holdings, Inc. is acting swiftly to protect industry dominance, in part by advancing towards expansion into new regional markets in the U.S., as well as Canada and Europe. Domestically, recent strategies include direct sales to brick and mortar retailers through the mobilization of a corporate fleet of inventory stocked vans in major U.S. metro markets directly servicing retailers, with products that are locally stocked and warehoused. (Source: Globe News Wire)
According to The Columbian, Applications for Oregon state licenses to grow hemp have risen by more than 20X since 2015. The rapidly evolving market comes amid skyrocketing demand for hemp-derived cannabidiol, or CBD extracts.
In terms of the POTN chart, we’ve been looking at roughly three months of near-continual consolidation, and only this month has the stock found support and begun to rebound. We believe now is a good time to take POTN under consideration. Stay locked to Street Register for updates, and we’ll provide 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.