PALM BEACH, Florida, November 16, 2017 /PRNewswire/ --
When itcomes to hot new trends in the marijuana markets, CBD-based products have exploded as well as stealing the spotlight this year. The cannabis industry, specifically in North America, is benefitting from a significant and
PotNetwork Holding Inc. (OTC: POTN) announced today, it's 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. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
PotNetwork 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:
Sugarmade, Inc. (OTCQB: SGMD) announced today its plan to create the world's largest publically traded cannabis industry supply company. Sugarmade and BizRight, LLC, one of the premier distributors and e-commerce marketers to the booming cannabis supply sector, have entered into a Letter of Intent for a Master Marketing Agreement where all BizRight products will be offered by Sugarmade. Upon the effective date of the definitive Master Marketing Agreement, all revenues for the iPower and all sub-branded products marketed by BizRight will be recognized by Sugarmade.
Mr. Jimmy Chan, CEO of Sugarmade commented, "We view the Los Angeles area as ground zero for the cannabis legalization revolution and this deal is designed to put Sugarmade and its shareholders right in the middle of the action. The new Sugarmade will be far larger than every other publicly traded supplier to the legal cannabis and hydroponic supply sector and in this business, size matters. The scale at which will be able to operate will allow us to lower manufacturing, warehousing, and transportation costs, and most importantly our cost of capital. This will allow the access to the capital we need to fund the many other business opportunities currently available in the growing cannabis marketplace. We think 2018 is be a very special year, not only for Sugarmade shareholders, but also for the many participants in this new and dynamic market sector." BizRight has been growing rapidly in the cannabis supply sector for several years. During 2017, BizRight is expected to produce at least $30 million in revenues and to be profitable. Growth for 2018 to over $40 million in revenue is expected. As compensation for the Agreement, Sugarmade will pay the owners of BizRight a combination of cash and common shares in Sugarmade.
Puration Inc. (OTC: PURA) closed up over 33% on over 18.3 million shares traded by the market close on Wednesday. The company yesterday announced plans to have a cannabis infused beverage ready to launch in Canada in conjunction with the nationwide legalization of recreational marijuana expected in Canada in July of 2018. Deloitte estimates the market for legal marijuana in Canada could reach $8 billion. The Canadian Spirits market is $5 billion. "I originally became a Puration shareholder when I purchased the Puration distribution rights for Canada," said Brian Shibley, CEO of Puration. "I am a Canadian citizen and with my experience and contacts in Canada, I became interested some time ago in distributing Puration products in Canada. One thing has led to another and Puration has evolved. My interest in Puration has since grown, and so I have become the CEO. With the pending nationwide legalization of recreational marijuana in Canada, combined with Puration's experience in cannabis extractions and making cannabis infused beverages, I am even more enthusiastic today about distributing Puration products in Canada then when I originally came to the company."
Kalytera Therapeutics Inc. (OTCQB: KALTF) (TSX-V: KALY.V) announced the United States Patent and Trademark Office has issued a Notice of Allowance for US Patent Application 15/143,694 covering the use of cannabidiol ('CBD') in the treatment of graft versus host disease ('GVHD'). Securing a patent for this proprietary technology represents an important step forward for the Company in its work focused on the treatment of this serious and life-threatening disease. "We are delighted to receive this Notice of Allowance from the USPTO", said Robert Farrell, J.D., Kalytera's Chief Executive Officer. "There are currently few options to treat persons with GVHD, a critically underserved market. The results of the previous four clinical studies that evaluated CBD in the prevention and treatment of GVHD were exceptional and unprecedented. Based on that data, we believe that our proprietary CBD based therapeutic may provide a major advance in the prevention and treatment of this disease, and we anticipate that we will also soon receive Notice of Allowance for our US Patent Application 14/787,515 that covers both the use of CBD in the prevention of graft versus host disease, and the treatment of graft versus host disease." Kalytera has exclusive world-wide rights to the technology that is covered by both of these patents.
Agritek Holdings Inc. (OTCQB: AGTK) closed up over 12% on Wednesday trading over 15.2 million shares by the market close. Earlier in the week, Agritek announced it has agreed and entered into negotiations to purchase the surrounding nine-hundred (900) acres of its existing 80 acre Hemp planned research site in Pueblo, Colorado. Currently, Agritek Holdings owns eighty (80) acres with water and mineral rights for its planned Hemp research project for production of CBD infused products. The Company has now been given the first right and accepted the offer to purchase the surrounding nine-hundred (900) acres making it one of the largest operating Hemp research projects seeking approval by the state.
Isodiol International Inc. (OTC: ISOLF) (CSE: ISOL.CN) recently announced the U.S. sales launch of ImmunAG™, the market's first non-cannabis cannabidiol (CBD) product derived from the hops plant. The time-released tablet will be unveiled at the Marijuana Business Conference and Expo (MJBizCon) in Las Vegas and available for purchase through Isodiol's website. "The release of ImmunAG is a monumental milestone for Isodiol, as it marks the industry's first foray into non-cannabis CBD products," said Marcos Agramont, CEO of Isodiol. "This launch is a continuation of our company strategy to provide a diverse range of products as we strive to increase shareholder value by creating entirely new market segments."
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