PALM BEACH, Florida, August 17, 2017 /PRNewswire/ --
Revenues being generated from the legal cannabis and marijuana market continues to push upward as leaders throughout the industry announce positive financial results and aim at surpassing initial benchmarks set last year. This growth in the multi-billion market is expected to get even stronger for companies such as: PotNetwork Holding Inc. (OTC: POTN), Cannabis Science Inc. (OTC: CBIS), Agritek Holdings Inc. (OTC: AGTK), Easton Pharmaceuticals Inc. (OTC: EAPH), American Cannabis Company Inc. (OTC: AMMJ).
PotNetwork Holding Inc. (OTC: POTN) is pleased to announce that based on earlier reported filed financial statements with OTCMarkets, PotNetwork 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. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
When compared to the annual forecast of $8,300,000 set forth earlier this year, management expects that 2017 will conclude with significantly strengthened expectation. SeeThroughEquity recently stated in an earlier Research Report, "The Company has made considerable progress over the last few years. Going forward in FY17, we expect POTN to increase revenues approximately 712% to $8.3 million through new product launches, aggressive marketing initiatives and entry into new markets." For details go to: https://www.otcmarkets.com/financialReportViewer?symbol=POTN&id=174795
"We remain steadfast in our efforts to build real value in our Company. The level of acceptance we are experiencing, can only be surpassed by our short and long-term vision for growth. As we continue to accelerate in sales performance, we embrace the opportunity to create a real and tangible success which we expect would ultimately be reflected in shareholder value," stated Gary Blum, Chief Executive Officer, PotNetwork Holding Incorporated.
In other industry developments and market performances of note:
Cannabis Science Inc. (OTC: CBIS) closed up strong on Wednesday up over 25% on Wednesday with over 25.1 million shares traded by the market close. The company yesterday announced, in conjunction with the Free Spirit Organics Native American Corporation, the initial harvesting of approximately 60 acres of industrial hemp on San Joaquin Sovereign Tribal Fee land MBS, California. The 2017 CBIS/FSO NAC MBS001 harvesting is a two-phase project, the first phase of the harvesting will be approximately 15-acres that is underway now, it is expected to be completed by the end of this month. Phase two will be the remaining 45 acres and is expected to be completed by the end of September 2017. "I am very pleased with the progress of our Native American initiatives; our Partners are second to none. They know the landscape, they know the process, they get it, and so do we. The industrial hemp commercial research scheduled for the 2017 CBIS/FSO NAC MBS001 harvest is extensive, initial research targets include extraction for medicines targeting critical ailments, wholesale distribution to physicians and licensed wholesale manufacturers, extraction research and development for fuel, construction materials, clothing, paper, food, vehicle production, and biomass soil, the industries are many and the numbers are immense.
Agritek Holdings Inc. (OTCQB: AGTK) also closed strong on Wednesday up over 44% on over 29.6 million shares traded by the market close. The company this week announced the timely filing of the Company's second quarter financial results for 2017. The filings may be viewed at http://www.AgritekHoldings.com under the investors section or the following link: https://www.otcmarkets.com/stock/AGTK/filings . B. Michael Friedman, CEO of Agritek Holdings, stated, "We are pleased with the progress of our second quarter results and encouraged by the overall progress that we have made since uplisting to the OTCQX. Our first consulting revenues, initial release of newly branded products now in inventory, and the increased equity in our property portfolio including Colorado and Puerto Rico operations all show a strategic execution of our business strategy within the cannabis sector."
Easton Pharmaceuticals Inc. (OTC: EAPH) this week announced it has advanced $575,000 towards its acquired interest in 45 acres of a 135-acre fully owned parcel of land for the cultivation, production and sale of medical/recreational marijuana to the cannabis industry and towards other revenue producing businesses. Pursuant to the agreement, Easton Pharmaceuticals has thus far paid $575,000 CDN of $1.3 million CDN to Toronto based Alliance Group to acquire an interest in 45 acres of agriculturally zoned land north of Toronto, Ontario, Canada to cultivate, produce and facilitate the sale of its production of medical marijuana and other lucrative revenue producing businesses on a co-managed basis. Alliance has already initiated the process to legally grow medical/recreational marijuana which it anticipates receiving and conveying positive news on within the next 30 to 60 days.
American Cannabis Company Inc. (OTCQB: AMMJ) closed up over 10% on Wednesday at $0.775 trading over 1.4 million by the market close. The company announced on Tuesday it has secured a client in the state of California. This client seeks to acquire a license that will permit them to dispense medical cannabis to patients. ACC has been contracted to complete operational planning activities, to provide conceptual design work for a retail dispensary location, to assist with 2017 city permitting, and to help with 2018 state application completion. Upon the client being awarded a city permit, ACC will be further retained in the dispensary deployment process where the consulting firm will provide facility staffing solutions, a customized set of operational workflow procedures, and remote operational monitoring support. ACC expects to leverage this contract to secure additional revenues through long-term consulting agreements and future sales of ancillary products, as this client is looking to seek licensure for the California recreational/adult-use cannabis program in the near future.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated seventy-five hundred dollars for news coverage of the current press release issued by PotNetwork Holding Inc by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Media Contact email: