PALM BEACH, Florida, March 28, 2017 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Cannabinoids and CBD Extracts continue to be a strong focal point for cannabis operators as revenues climb higher behind a robust jump in sales volume. Many industry professionals expect CBD infused lifestyle products could be the next big Cannabis maketplace. Cannabis and Legal marijuana companies with recent development and notable market performances include: PotNetwork Holding, Inc. (OTC: POTN), Cannabis Science, Inc. (OTC: CBIS), Medical Marijuana, Inc. (OTC: MJNA), Acology Inc. (OTC: ACOL), MyDx, Inc. (OTC: MYDX).
PotNetwork Holding, Inc. (OTC: POTN) announced today that upon starting 2017 with the advantageous acquisition of Diamond CBD, Inc. and the Company's transition back into the cannabis, hemp and related markets, coupled with Diamond CBD's robust sales pipeline, the Company is projected to generate over $1,700,000.00 in gross revenues during the first quarter of 2017 alone.
Regarding developments, Maria Gomez, Regional Vice President of Sales, Diamond CBD, stated: "As the Marijuana sector continues to expand, so has our corporate vision and drive for brand distinction and differentiation. For Diamond CBD, sales have accelerated from $1,663,081.78 for the 4 quarters of 2016 to a pace that will probably exceed $1,700,000.00 for the 1st quarter of 2017, meaning that we've established significant momentum for the remainder of this year. Even if sales only remain consistent, it would represent a revenue increase in the range of almost 400% percent, year-over-year." Read this and more news for POTN at http://marketnewsupdates.com/news/potn.html
In accordance with the Company's aggressive branding and marketing strategy, its subsidiary, Diamond CBD, Inc., exhibited at ASD Market Week, in Las Vegas, NV, an international event known to showcase the world's widest variety of popular retail merchandise in a one-stop shopping experience. ASD Market Week boasts 45,000 buyers from 88 countries annually. Ninety-eight percent of these attendees have major purchasing power with the average buyer spending $82,500.00 per show, equating to $2.8 billion annually.
In other sector developments:
Cannabis Science, Inc(OTC: CBIS), a U.S. company specializing in the development of cannabis-based medicines, announced late yesterday that it has substantially increased its production for its self-medicating patient product line distributed through cannabis dispensaries in California. CBIS moves to meet the outstanding influx of self-medicating patient requests as it highlights Moonlight Cannabis as its Newest Spotlight Dispensary for the Month of April 2017. "Moonlight Cannabis has now received most of Cannabis Sciences' newest developed products. We have just received the newest batch of our CBIS MDI Inhaler just in time for this spotlight announcement and look forward to feedback from customers of Moonlight Cannabis about this new product.
Medical Marijuana, Inc. (OTC: MJNA) announced yesterday that its subsidiary, Kannaway LLC, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has unveiled a renewed line of chewable energy supplements meant to enhance and energize an on-the-go lifestyle. This is yet another premium product added to its growing line of lifestyle products. Kannaway Energy Chews are a bite-sized line of hemp-based energy supplements with 5mg of CBD derived from sustainable hemp oil and vitamin B, meant to support cognitive function, mood and energy levels. The Company sees Kannaway Energy Chews as an affordable, healthy and natural alternative to junk food, energy drinks, and pricey coffee.
Acology Inc. (OTC: ACOL) closed up slightly on Monday trading over 8.1 Million shares by the market close. Executives of Acology Inc. (ACOL), in response to investor inquiries about the company's multinational expansion, have expressed confidence that the anticipated legalization of recreational cannabis in Canada will produce growth and strong, sustained retail and wholesale business. With the Canadian National Government, led by strong, pro-cannabist Prime Minister Justin Trudeau, ready to ask for legalization in the next few weeks and the high likelihood of the referendum passing, companies that have anticipated legalization are in a good position to benefit from the new law.
MyDx, Inc. (OTCQB: MYDX) closed up over 23% on Monday trading over 126.2 Million shares by the market close. MyDx, a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for the Cannabis professional and retail consumer to correlate the chemical profile of cannabis with how it makes consumers feel and what it helps them relieve, just over a week ago announced the successful resolution of the contentious relationship with the company and its toxic convertible debenture lenders. The Company took an aggressive stance in early March, filing for a temporary restraining order when it believed that it had fully satisfied its obligations to certain notes on its balance sheet, yet continued to receive conversion notices to payoff balances that were claimed outstanding.
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