Excerpt: PotNetwork Holdings Inc. has set itself apart from competitors with an impressive performance over the past six months.
The US legal marijuana market is predicted to be worth a whopping $77 billion by 2022 and many marijuana stocks are scrambling to position themselves to take full advantage. For the moment the headlines are dominated by strong players like Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY), Aurora Cannabis (NYSE:ACB), GW Pharmaceuticals (NASDAQ: GWPH), and Cronos Group (NASDAQ:CRON).
Small-cap cannabis stocks have been starting to make waves and generating more attention over the first half of 2019. One excellent example is PotNetwork Holdings, Inc. (OTCMKTS:POTN), this all-American stock has broken into new markets and consistently generated healthy growth thanks to an aggressive approach to marketing, and now they’re fully reporting.
PotNetwork Holdings gains and advances
PotNetwork Holdings is a publicly-traded company which operates via impressive subsidiaries, which have seen success in their various niches. These subsidiaries include First Capital Venture Co., Diamond CBD, Inc., and PotNetwork Media Group which publishes PotNetwork News and PotNetwork Magazine.
In July, PotNetwork Holdings became a fully reporting entity as its Registration Statement on Form 10 has officially come into effect. This means that the company’s common stock has been registered in compliance with the Securities Exchange Act of 1934.
By becoming a fully SEC-reporting company, PotNetwork Holdings is holding itself to the same high standards as Canopy Growth, Tilray, and Aurora Cannabis when it comes to transparency and compliance. In the coming months, PotNetwork Holdings is also expected to make public its annual, quarterly, and all related financial filings in accordance with all federal law and regulation.
“This step represents a formal commitment to shareholder transparency while at the same time helping to facilitate the upscaling of the Company,” Kevin Hagen, CEO of the company, said in the announcement.
“By voluntarily becoming a fully reporting SEC company, we believe that we are increasing shareholder value and significantly increasing the options of the Company for expanded long term growth,” he added.
PotNetwork Holdings making waves in the digital space
The company’s filing under the SEC Act of 1934 included audited financial statements for fiscal years ended December 31, 2018, and December 2017. Since it is already mid-way through fiscal 2019, the company has also included its financial reports for the first quarter of 2019.
The period covered for its SEC filing is an important milestone for the relatively young company, founded in 2015. The company ended in 2018 with more than $25.5 million in revenues. This achievement was also a 78 percent increase from its audited 2017 revenues.
PotNetwork Holdings is well on track to achieve similar milestones or perhaps exceed them based on the performance of one of its major subsidiaries, Diamond CBD. In May, its online store accumulated more than $1.1 million in sales all via its website. By comparison, the site only had online sales totaling $569,671 in May last year. This means that the website alone achieved an increase of more than 90 percent, also acquiring more than 330,000 new online users halfway through the year.
At the same time, PotNetwork News, branded as the industry’s premier source for financial and politically related cannabis developments, has started the year with more than 1 million page views. That number was achieved within the first 10 weeks of 2019.
PotNetwork Holdings gains and advances in 2019
This year is also expected to be the culmination of all of PotNetwork Holdings’ initiatives that were laid out in 2018. For one, the company introduced its MediPets product line in November 2018. The product serves as a gateway for the company to enter the U.S. pet wellness industry, estimated to be worth $69.5 billion at present. The start of 2019 saw new distribution points for PotNetwork Holdings, delivering MediPets products in pet stores and veterinary clinics across the country.
In December, Diamond CBD took steps into the $46-billion coffee market with its line of coffee and tea K-Cup capsules. The first two to three months of the year saw Diamond CBD making sales of as many as 20,000 of the coffee line. This was an achievement, given that the products sold were only meant to test the production run.
The company is in the process of setting up stand-alone retail kiosks, carts, and physical stores nationwide and has already begun operations in South Florida. By 2020, Diamond CBD will be stepping into new territories through metro markets across other states.
Meanwhile, in Miami, Diamond CBD has also launched its own fleet of mobile vans that serve as its brick-and-mortar retail outlets for the meantime. The fleet also renders “front door delivery services” to boost local consumer awareness.
A bright future
PotNetwork Holdings has opened the year with numerous achievements compared to any other newbie cannabis companies in the market. While it’s market capitalization is still growing, its presence has proving to be as strong as these big-time participants. With its strategies all laid out, it is no doubt that it will soon be catching up to—or perhaps may even surpass—the strongest stocks in the market today.