PotNetwork Holding, Inc. (OTC Pink: POTN)(the “Company”) announced today that the Company has officially retained the auditing services of East West Accounting Services, LLC, a Public Company Accounting Oversight Board (PCAOB) registered CPA firm, based in South Florida. The firm will provide a methodical review and analysis to deliver a detailed audit report of the Company’s recent revenues and provide credible verification.
East West Accounting Services, LLC is a PCAOB registered CPA firm, which provides audit, review, and consulting services to smaller capitalized public companies that are required to provide financial information to the Security and Exchange Commission.
Management has long strategized the initiation of a PCAOB audit, since transparency is key to the Company’s strategy for growth and expansion. Strategically, management prepared for a level by which the time and money required to proceed was warranted. A string of positive and profitable corporate events are the catalyst for Diamond CBDs achievement of this level, by which the Company has taken a proactive approach to deepen accountability to the Company’s shareholders and the public marketplace.
“We believe that the timing for this action is now. In consideration of the amount of momentum built up over the past 6 months, coupled with reported revenues of $5,077,625 for the first 6 months of fiscal 2017, the only logical next step was to initiate the auditing process, whereby the market can recognize the significance and legitimacy of the Company’s recent growth,” stated Gary Blum, Chief Executive Officer, PotNetwork Holding, Inc.
PotNetwork recently announced that second quarter and year-to-date operating results confirm PotNetwork Holding’s revenues maintain strong, with performance continuing to exceed fiscal 2017 forecasts. 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. Based on earlier reported financial statements with OTCMarkets, the Company continues on track to exceed its projections set forth for 2017. As developments evolve, the Company will be prompt with pertinent updates.
About East West Accounting Services, LLC: The CPA firm is located in Miami Florida and offers audit and assurance services to all kinds of growing businesses and non-profit organizations. When the firm conducts an internal business audit, the goal is to deliver the highest level of assurance to investors and creditors. From due diligence and risk management services, in preparation for merger and strategic acquisition preparation, to audit services for companies seeking to provide financial transparency, all services are designed to reflect an honest and accurate representation of the current financial condition of a spectrum of businesses and organizations.
About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multi-national marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils and E-Liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holding Inc: PotNetwork Holding, Inc. (OTC Pink: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.
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