Cannabis CBD Product Revenues Continued Growth Projected to be Billion Dollar Industry
MarketNewsUpdates.com News Commentary
24 Aug, 2017, 08:45 ET
PALM BEACH, Florida, August 24, 2017 /PRNewswire/ --
In an article published on Forbes this week, Hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. The data company estimates that hemp CBD sales have already hit $170 million in 2016 and a 55% compound annual growth rate over the next five years will cause the market to crack the billion-dollar mark. Brightfield determined that 64.5% of the sales come through the online channel followed by 17.8% at smoke shops. Dispensaries were third, with 9% of the sales and health stores and doctor's offices rounded out the top five. This high growth market is expected to get even stronger for companies such as: PotNetwork Holding Inc. (OTC: POTN), Hemp Inc. (OTC: HEMP), Agritek Holdings Inc. (OTC: AGTK), ViaDerma Inc. (OTC: VDRM), Leafbuyer Technologies, Inc. (OTC: LBUY).
PotNetwork Holding Inc. (OTC: POTN) - Record Breaking Months Again Surpassed, With July Revenues Nearing 1.5 Million Dollars - POTN is delighted to announce that its wholly-owned subsidiary, Diamond CBD, Inc., has delivered yet another considerable increase in revenues month over month. For the month of July 2017, it achieved record breaking revenues of $1,459,137, which exceeded its June 2017 results by more than 30% . Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
"We are very pleased with how the numbers have continued to gain over the summer. We are consistently setting new sales records month after month and are excited to be able to report this type of continuing growth. We have taken our marketing efforts seriously. A commitment that is surely being revealed in the ongoing sales numbers," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
The Company recently reported that, based on earlier filed financial statements with OTC Markets, PotNetwork Holding, Inc. is on track to exceed its projections set forth for 2017. 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.
In other industry developments and market performances of note:
Hemp Inc. (OTC: HEMP) closed up over 8% on Wednesday with over 23.5 million shares traded on the day. The company recently announced its NuAxon Tech CO2 Supercritical Extractor has officially launched and is in its first phase of operation. The company previously purchased the NuAxon Tech Industrial CO2 Supercritical Extractor from NuAxon BioScience, manufacturer and the producer of the world class, large capacity CO2 Supercritical Extraction equipment as part of a joint venture with Freedom Leaf, Inc. (OTCQB : FRLF), NuAxon's global exclusive distributor for the cannabis/hemp industry. After thorough testing and debugging, corporate executives are now commencing their "hemp oil extraction infrastructure," one of the company's current four underlying industrial hemp infrastructure components.
Agritek Holdings Inc. (OTCQB: AGTK) closed up 3.72% with over 12.3 million shares traded on the day. The company recently announced the Company's first orders from its' state licensed manufacturer for its brand "MicroDose" Oral Strips or "MD Strips" for the medicinal market of California. First orders and samples are being sent to dispensaries and local delivery services in both San Diego and Orange County this month. Agritek Holdings will provide the licensing and packaging to produce the exclusive line of 10mg and 50 mg oral strips as a medicinal alternative for patients. The Agritek "Microdose" brand will be produced and expected to be distributed through its permitted manufacturer and collective to 140 plus dispensaries throughout California over the coming months. AGTK will receive a flat fee per single package designed exclusively by Agritek Holdings with the first 10,000 units being delivered by the end of the month.
ViaDerma Inc. (OTC: VDRM) closed up over 4% on Wednesday with over 12.3 million shares traded by the market close. The company recently announced that it has appointed Galaxy Solutions, Inc. as its sales representative for its first aid topical antibiotic which will be sold under the brand name Vitastem in select markets of Asia Pacific, starting in Japan. The agreement includes sales and marketing responsibilities of the Vitastem brand and possible other brands that will be developed for specific market segments. Galaxy Solutions, Inc. will work to sell directly to larger customers and to distributors and will be the primary provider of service and support in the covered markets. "With Galaxy Solutions as our sales representative, we will immediately have access to the professional segment of our target markets," said Dr. Chris Otiko, CEO of Viaderma, Inc.
Leafbuyer Technologies, Inc. (OTC: LBUY) closed up over 13% on Wednesday at $2.65. Leafbuyer Technologies, a leading cannabis technology platform, announced this week that it has renewed its partnership with the Cannabist, a marijuana news website from the award-winning Denver Post, and will continue as its official deals partner. Kurt Rossner, CEO and Co-founder of Leafbuyer, commented, "We are very pleased to renew this significant partnership. Being the official deals platform for the Cannabist has expanded our reach to consumers all over the country. Millions of cannabis consumers each month read the Cannabist for their great industry news. We believe having the right partnerships with established industry heavyweights will help expand Leafbuyer's brand nationally. We expect 2018 will be a watershed year in this industry and we are excited to grow with the Cannabist."
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