Rapidly Growing CBD-based Products Market Providing Strong Bottom-line Growth Numbers

Tuesday, November 28, 2017 General News
Email Print This Page Comment bookmark
Font : A-A+

MarketNewsUpdates.com News Commentary

PALM BEACH, Florida, November 28, 2017 /PRNewswire/ --

By this

point, it's no secret that CBD-based products are one of the hottest niches in the booming cannabis industry. Analysts are projecting revenues to continuing growing at a steady rate year over year for the foreseeable future, with overall revenues topping
the billion-dollar mark within the few years. Leaders in the CBD space have seen revenues increase each year, with top brands averaging over $2 million per year. A few prominent companies in the headlines this week include: PotNetwork Holding Inc. (OTC: POTN), Cannabis Science Inc. (OTC: CBIS), Hemp Inc. (OTC: HEMP), mCIG Inc. (OTC: MCIG), India Globalization Capital Inc. (NYSE: IGC).

PotNetwork Holding Inc.  (OTC: POTN) announces the retirement of 300,000,000 common shares held by principal shareholders. This reduction of over half the issued and outstanding common shares will be exchanged for non-trading preferred shares. Upon retirement, this reduction will bring the Company's current issued and outstanding common shares of 569,920,485 down to a total of 269,920,485 issued and outstanding common shares. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html PotNetwork Holding announced earlier this month, its wholly owned subsidiary, Diamond CBD, Inc., has reported its revenues for October. With nearly $1.7 million generated, the Company's sales exceeded September's revenues by 42%. "It's exciting that our sales continue to strengthen. With our continuing strategy in place, we approach the end of the year with great anticipation," stated Chief Executive Officer, Richard Goulding, MD. PotNetwork also recently announced that the Company had recently reported Third Quarter Revenues of $4,444,800.00, exceeding Second Quarter Results by 29%. The Company also retained the auditing services of East West Accounting Services, LLC, a Public Company Accounting Oversight Board (PCAOB) registered CPA firm, to provide a methodical review and analysis for the audited verification of the Company's recent monthly reported revenues. In other industry developments and market performances of note:

Cannabis Science Inc. (OTC: CBIS) closed Monday up over 14% with over 31 million shares traded throughout the day. Last week, the company announced that its expansions plans are well underway as it has signed agreements to acquire and officially open the first Cannabis Science PRE ICO Medical Marijuana dispensary, in Los Angeles, California. "Attaining this first PRE ICO Dispensary in L.A. is a huge step for Cannabis Science as it opens the door to speed up our planned expansion in the Los Angeles area and eventually California statewide," stated Cannabis Science Inc., President & CEO, Co-Founder, Mr. Raymond C. Dabney. "This is a prime example of our resilient and aggressive negotiations to acquire multiple pharmacies across the Los Angeles area. Finalizing this acquisition is just the first step of many that Cannabis Science will be taking to establish a statewide presence, with a nationwide future goal.

Hemp Inc. (OTC: HEMP) closed even on the day on Monday trading over 24.5 million shares by the market close. Hemp, Inc. recently announced that its wholly-owned subsidiary Hemp University, LLC will hold its most vital and anticipated educational symposium of the year... Hemp Money Event: Economics, Lessons & Planning for 2018. The symposium will be held on Saturday, December 2, 2017 from 8:30am to 5:00pm EST at the Shrine Club (320 Airport Rd, Rocky Mount, NC 27804). Attendees will learn the economics of growing industrial hemp for fiber, seeds, and CBD; learn from mastery POD growers about their experiences and lessons learned; and, learn how to prepare for the 2018 industrial hemp growing season with a well-defined blueprint for success.

mCIG Inc. (OTCQB: MCIG) closed up slightly on Monday at $0.1716 with over 1.9 million shares traded by the market close. mCig, Inc., a diversified company servicing the legal cannabis markets, recently announced it has entered into an agreement between OBITX, Inc., formerly known as GigeTech, Inc., a wholly owned subsidiary of MCIG and FlameNetworks to implement the proprietary eHesive Advertising Network with an Exclusive territory as an EU partner. FlameNetworks is a hosting company founded in 2005 designed for high quality, cost-effective global hosting solutions, servicing over 20,000+ professional accounts comprising of multiple companies, web agencies and conglomerates / client websites and traffic, hosted from the company's multiple data centers and a multi-layered network with capability over 700Gbps bandwidth.

India Globalization Capital Inc. (NYSE: IGC) closed up 12.24% on Monday at $0.55 with over 1.2 million shares traded by the market close and was also up over 8% in after hours trading as well. The company recently announced the voting for Proposals Three and Four from its Notice of Annual Meeting of Shareholders, dated October 5, 2017. Proposal Three seeks approval of the grant of 1,900,000 shares of common stock to be granted from time to time to the Company's current and new employees, advisors, directors, and consultants by the board of directors, pursuant to certain metrics including performance, vesting and incentive as set by the board of directors and or the CEO; and Proposal Four seeks approval of the issuance of up to 2,000,000 shares of the Company's common stock to Bricoleur Partners, L.P. The voting on these two proposals was adjourned to December 15, 2017 at 12:00 am Eastern Standard Time to allow the Company's stockholders additional time to vote. Stockholders who have already voted do not need to recast their votes. Proxies previously submitted in respect of the meeting will be voted at the adjourned meeting unless properly revoked.

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 forty-nine 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: [email protected] +1(561)325-8757

SOURCE MarketNewsUpdates.com



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store