FT LAUDERDALE, Fla., April 05, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PotNetwork Holdings, Inc. (OTC Pink:POTN) announces that the Company has engaged specialized legal counsel in addition to entering into a specialized engagement with its PCAOB auditors, to prepare a Regulation A+ (“Reg A+”) filing in accordance with management’s objective to heighten transparency, and bring the Company greater visibility before a substantially larger group of qualified investors. The Company anticipates having its Reg A+ filing ready for submission to the Securities and Exchange Commission within the next thirty (30) days.
The Company’s initial step in this process to become up-listed to the OTCQB was the recent release of its audited consolidated financial statements, disclosing $14.49 Million with gross profits of $5,180,865 for 2017. “We believe that we are standing on the threshold of a revolution in this marketplace. We have pursued industry leadership and robust market penetration. Now that we have established a solid foundation, we are ready to step into a stronger and more advantageous financial arena,” stated Richard Goulding, PotNetwork Holdings CEO. This is Company’s next milestone in its long-term strategy to of achieving a NASDAQ Capital Market listing.
Separately, the Company announced its intention to more closely align its corporate identity with its key business objective of leading the global CBD industry since its success is being driven by the growth of its wholly-owned subsidiary Diamond CBD. Consequently, the Company is considering a name change to effectively rebrand its identity to establish it as a profitable, socially-responsible brand dedicated to strengthen its leadership position in the manufacture, distribution, and marketing of CBD products.
Tommy Chong, Cannabis Legend, recently joined expert physicians and Diamond CBD Consumers in Endorsing PotNetwork Holdings Subsidiary’s growing selection of health and wellness products in a corporate video production highlighting consumer response, revealing key drivers of the Company’s growth in an industry expected to reach $2.1 billion by 2020.
Market research firm, Brightfield Group recently found the CBD oil industry to be growing at a rate of 55% each year. That firm projects the U.S. domestic market for CBD oil products will total $1 billion by 2020. Due to the diversity of its investments and success of its brands, PotNetwork Holdings, Inc. is projecting 60-70% increases in revenues for 2018 compared to the company’s performance in 2017, as a consequence of taking on new products and the anticipation of new sales outlets.
About East West Accounting Services, LLC: Registered by the Public Company Accounting Oversight Board (PCAOB), East West Accounting Services, located in Miami, Florida, which has conducted its audit of the Company, provides audit, review and consulting services to smaller capitalized public companies that need to provide financial information to the Security and Exchange Commission.
About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Inc.: PotNetwork Inc., a wholly owned subsidiary of the Company brings to market PotNetwork.com, a counter-culture, cutting-edge digital magazine, publishing up-to-date news and articles on the cannabis industry. PotNetwork.com operates as a media resource providing a full range of industry related topics.
About PotNetwork Holdings, Inc: PotNetwork Holding, Inc. (OTC Pink:POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: PotNetwork Holding Inc. Investor Relations: Marisol Elwell
Source:PotNetwork Holding, Inc