PALM BEACH, Florida, July 11, 2017 /PRNewswire/ --
Revenues continueto climb for the Legal Marijuana and Cannabis industry along with the CBD-based Product Market beginning to become the leading segment in the industry. The national growth in the legal cannabis market is still expanding at a rapid rate, with no signs
PotNetwork Holding Inc.(OTC: POTN) News - With over $2.1 million in total revenues, April and May figures top first quarter results as PotNetwork continues cultivating for growing returns - as recent returns soar well over first quarter's revenues of $1,858,347.48, management sharpens focus on fulfilling rising demand. PotNetwork Holding announced today that its wholly-owned subsidiary, Diamond CBD, Inc., after a strong record-breaking first quarter, continues building momentum into the summer with heightened expectation for Diamond CBD's highly sought after consumable product line. After the past two months of this quarter, revenue totals have reached $2,106,245.87, considerably exceeding the Company's first quarter results.
"At this point, we are focusing our attention on production since our strengthened efforts have been rewarded with even more consumer enthusiasm. As new consumer orders meet growing recurring order flow, we are strategizing to maintain product availability to meet continually heightening demand," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc. Read this and more news for PotNetwork Holding athttp://www.marketnewsupdates.com/news/potn.html.
In April, the Company disclosed that having originally estimated first quarter revenues of $1.7 Million, final figures ultimately exceeded estimates by $100,000.00. Since then, Diamond CBD has reported that the past six months of trade show, expo, and convention attendance, demonstrating management's determined commitment to achieve strong results, had yielded product demand requiring significant expansion of its manufacturing operations.
Eighty thousand (80,000) Chill Gummies were sold as a result of the recent highly productive road show causing the Company to entirely sell out of its increasingly popular proprietary Chill Gummy line. Diamond CBD recently had announced that for the month of April 2017, the Company had accomplished a considerable boost in revenues year over year. The Company's revenues in April 2016 were just under $40,000.00, a reflection of the Company's infancy. With record-breaking April 2017 sales of over $1 million Dollars, the Company has achieved substantial growth of over 25 times.
In other related industry developments:
Players Network, Inc. (OTCQB: PNTV) finished Monday up over 33% with a volume north of 12.9 million by the market close. Player's Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 85% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within our media operations.
Terra Tech Corp. (OTCQX: TRTC) closed up over 8% on Monday after nearly 5.6 million shares were traded by the market close. Terra Tech Corp., a vertically integrated, cannabis-focused agriculture company, recently announced its Dual Use Marijuana business licenses was approved by the State of Nevada Department of Taxation. The approval allows all four of the Company's Blüm cannabis dispensaries in Nevada to commence sales of cannabis for adult-use, that started on July 1, 2017. In November 2016, residents in the State of Nevada voted to allow regulated sales of cannabis for adult-use. In May 2017, Nevada's Tax Commission approved temporary regulations to allow an 'early start' for adult-use cannabis sales that commenced July 1, 2017. This early rollout will make Nevada the fifth state with an operational adult-use market and the first to launch since last November's election. The state's adult-use cannabis program is projected to generate more than $70 million for the state over the first two years, according to data from the Las Vegas review Journal.
SinglePoint Inc. (OTC: SING) recently announced a deal with Premier Biomedical to mass-manufacture its CBD Hemp Oil Patch and potentially future products. The deal provides the company with a consistent stream of revenue while it continues to execute organic growth initiatives and make strategic acquisitions in the cannabis industry. In addition, the potential to add future products to the mix opens the door to scaling these revenue streams higher. "We have been working very hard on making acquisitions and inside sales to boost revenue," said SinglePoint CEO, Greg Lambrecht, in a press release announcing the partnership. "This new business will contribute significantly to our revenue goals."
GreenGro Technologies Inc. (OTC: GRNH) closed up over 5% on Monday with over 1.8 million shares traded by the market close. The company recently announced that its majority-owned subsidiary Biodynamics, LLC, Akron, Ohio, has been awarded a contract to sell a branded photovoltaic (PV) solar glass hydroponic vegetable greenhouse as part of a $17 million purchase agreement with GH Farms Group, LLC, an Ohio-based greenhouse company. Under terms of the agreement, Biodynamics will construct a 254,528 sq. ft. PV solar glass hydroponic vegetable greenhouse for GH Farms Group, with construction expected to start in the third quarter of 2018. The project, incorporating Biodynamics' industry-leading fully automated off-grid greenhouse technology, will cultivate vegetables hydroponically using Biodynamics' proprietary controlled environment agriculture (CEA) growing systems and techniques.
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