Key factors driving the continued growth of the marijuana/cannabis market include innovative CBD product introductions, premium pricing due to high-energy consumption in marijuana production, rising social acceptance of marijuana, and a large base of potential cannabis consumers.
It also helps that there is a growing trend in popular support for cannabis and marijuana stocks in general. In fact, Research and Markets analysts forecast the global CBD oil sector to grow at a CAGR of nearly 40% during the period from 2017 to 2021. So it would stand to reason that this subsector of the marijuana industry is something to pay attention to right now.
Companies like PotNetwork Holding, Inc. (POTN) are starting to attract the attention of investors through its wholly owned subsidiary Diamond CBD, Inc.. Just this month the company reported its third quarter revenues.
For any company, earnings season is vital to dictating the pace of the months to come and with over $4.4 million for the third quarter, Potnetwork has actually surpassed its Q2 by almost 30%. Even the second quarter figures of over $3 million were impressive as they ripped higher than the first quarter.
“We are very pleased with this quarter’s results and forge ahead into the fourth quarter with strengthened anticipation once again,” excitedly stated Chief Executive Officer, Dr. Richard Goulding, MD.
This reporting comes on the heels of two record-breaking months for Diamond CBD. The company reported revenues for July of $1.4 million and a 21% increase in August of more than $1.7 million in revenues.
Currently Diamond CBD offers a wide variety of CBD infused products, including edibles, oil, dabs, vapes and creams. Just late last month, the company announced it has added a new product to market, which are honey packed straws infused with 10mg of pure natural organic CBD.
It’s also important to note that (POTN) has retained the auditing services of East West Accounting Services, LLC, a PCAOB registered CPA firm, to help provide an audited verification of the company’s most recent monthly reported revenues. What’s the importance of this?
Well, in our opinion, it comes down to transparency. Any time you have a company in the marijuana industry producing revenues like these, many questions rise. But with audited financials, the “veil of uncertainty” can quickly be lifted when it comes to determining the true numbers that the company has been capable of this year.
What Makes PotNetwork Holding (POTN) An Attractive Company?
The company is producing million in revenues for one and second, it is one of the few at these price levels to be cash flow positive; something only a handful of companies have been able to achieve on the OTC at under $0.10.
These strong numbers have reflected the stock’s performance since the start of the year, seeing a price jump of 1,865.5% from its closing price of $0.0029 on the first trading day of 2017 (January 3) to a recent high of 0.057. Shares have even seen highs as much as $0.0995 this year!
As the progression for mass legalization with marijuana continues, investors are looking for new opportunities in the rapidly growing industry and companies PotNetwork Holding, Inc. (POTN) could be poised to capitalize.
Disclaimer: MAPH Enterprises LLC., has been compensated a total $150,000 (CASH) by Potnetwork Holdings, Inc. via First Capital Ventures, Inc. an affiliate company for a period beginning November 1, 2017 and ending December 1, 2017.We may buy or sell additional shares of (POTN) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.