PotNetwork Holdings, Inc. (OTC: POTN) acts as a holding company for its subsidiaries, PotNetwork, Inc., and First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.
Diamond CBD, Inc., has reported that the Company has already surpassed the Million-dollar sales mark, only halfway through February. The company had previously reported January 2018 revenue of $2,190,000, a 50% increase over December’s revenues of $1,460,000.
On February 26, 2018, PotNetwork announced that its wholly owned subsidiary, Diamond CBD, Inc., which exhibited its 2018 product line at the 37th CHAMPS Trade Show at the Las Vegas Convention Center on February 19-21, 2018, recorded over $270,000 in sales at the show.
PotNetwork Inc., a wholly owned subsidiary of the Company brings to market PotNetwork.com, a counter-culture, cutting-edge digital magazine, publishing up-to-date news and articles on the cannabis industry. PotNetwork.com operates as a wholly owned subsidiary of the Company; a media resource providing a full range of industry related topics.
Products
PotNetwork Holdings controls more than 15 CBD recognizable brands marketed at thousands of retail stores around the country. These products include CBD oils, edible gummies, vape pens, vape additives pet products, and more, and are available in 100’s of flavors and sizes. Diamond CBD has most recently unveiled a new product line, targeting a different sector of the market with Meds BioTech, which provides a specialty line to meet the demand of consumers seeking nutritional supplements. Every batch of extract is lab-tested to achieve the utmost purity in their products
Market
The cannabidiol (CBD) market is estimated to grow by 700% by 2020, according to Forbes. A new report by market intelligence firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year’s CBD market of $202 million.
CBD is one of the more than 85 cannabinoids so far identified in marijuana and hemp. Unlike the better-known compound tetrahydrocannabinol (THC), CBD is not psychoactive, meaning it won’t cause a high. Thousands of studies have shown that CBD possesses an array of therapeutic benefits, including antioxidant and neuroprotective properties.
Right now, there are 15 states that allow CBD only — this is in addition to the 28 states plus DC that have legalized medical marijuana.
About
PotNetwork Holdings, Inc. acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. 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. PotNetwork Holdings Inc. is committed to growth by the expansion of its subsidiaries and the strategic acquisition of additional businesses.
Analysts
On January 30, 2018, SeeThruEquity raised its POTN price target to $1.25 / share in an updated research report.
The report highlighted the following pertinent factors: “Hemp derived CBD provides a legal alternative to marijuana-based CBD (which is banned at federal level) and allows the consumer to enjoy CBD without the risk of getting high and breaking any federal laws. Hemp derived CBD market is projected to grow at a CAGR of ~53% till 2020, positioning it as the fastest growing sub segment within the multi-billion-dollar legal cannabis and hemp market.
Diamond CBD continues to report robust top line growth, as indicated by recent 3Q17 results and continued momentum through November. We see POTN as a speculative growth company focused on the burgeoning legal cannabis and hemp market targeting the fastest growing sub segment (hemp derived CBD). Upcoming catalysts new product launches, aggressive marketing initiatives and entry into new markets (specifically China), and efforts to up list shares to a national market.”
FYE December 31, 2017 financial highlights:
Revenues $14.5M
Gross profit $5.1M
Expenses $4.9M
Net profit $213K
Cash on hand $258K
Going forward, POTN intends to focus only on the CBD business. The financial statements of PotNetwork Holding Inc. reflect only the business of Diamond CBD.
Stock influences and risk factors
Further increases in revenues and profits could be a stock catalyst;
New product introductions could be a positive influence on company shares;
The company will need to raise cash and may utilize dilutive measures;
The cannabis market is competitive, and the company may lose its standing as a premium CBD oil marketer;
Stock chart
On Tuesday, February 27, 2018, POTN shares were at $.48 per share on traded volume of 2.8 million shares. The current RSI (14) is 48.89
At $.48 POTN shares have crossed their 50-day and 200-day moving averages of $.37 and $.14 respectively.
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