Having Estimated First Quarter Revenue Results of $1.7 Million, Final Figures Exceed Previously Announced Estimate by $100,000 - FORT LAUDERDALE, Fla. - (http://www.financialnewsmedia.com
News Alert) - PotNetwork Holding Inc. (OTC Pink: POTN)(the "Company") reported today that after starting 2017 with the advantageous acquisition of Diamond CBD, Inc. and the transition back into the cannabis, hemp and related markets, the Company has surpassed initial quarterly projections of $1.7 million in gross revenues. Management is pleased to announce that realized first quarter figures had exceeded expectation by over $100,000 for a total of $1,858,347.48.
Having, at the beginning of the year, set corporate sights on achieving the goal of $1.7 million for the quarter, management had put in motion an aggressive effort to build a strong and thriving sales pipeline for 2017. "We are very happy with the final numbers. All quarter we have put significant effort into building a strong sales momentum. Evidently, between our efforts and the apparent consumer acknowledgement of our product quality, demand is advancing even more rapidly than we had originally anticipated," exclaimed Maria Gomez, Regional Vice President of Sales, Diamond CBD. Read this and more news for POTN at: http://financialnewsmedia.com/profiles/potn.html
If sales revenues in this range remain consistent at this level, it would represent a revenue increase in the approximate range of 480% percent, year over year. Based on the increased rate of sales growth, the Company plans to announce updated projections soon. The Company expects to have its corporate financial reports posted on or before May 15th.
In addition, Diamond CBD recently announced that management had attained the anticipated goal of establishing a merchandising pipeline of 7,000 authorized retail vendors through its distribution channels. This puts Diamond CBD "over the top" with its products now accessible at approximately 10,000 stores in the United States.
About Diamond CBD: Diamond CBD Inc. is an organization focused on the advanced research and development of the industry's finest premium hemp extracts and making them available to the global marketplace. The Company's notable team, consisting of hemp industry pioneers and natural product experts, chemists, and scientists, is dedicated to producing the finest and purest Cannabidiol (CBD) oil. The Company formulates advanced product quality to market through the team's creation of diverse and top quality hemp extracts that contain a broad profile of cannabinoids and other natural hemp derived molecules, resulting in a robust selection of Industrial Hemp derived Diamond CBD oils considered among the most powerful natural CBD E-Liquids on the market. For more information, please visit the website at www.DiamondCBD.com.
About PotNetwork Holding Inc: PotNetwork Holding Inc. (OTC Pink: POTN) is a publicly traded company with two wholly owned subsidiaries, Sunrise Auto Mall Inc. and First Capital Venture Co. and its wholly owned subsidiary Diamond CBD. First Capital Venture Co. through its wholly owned subsidiary, Diamond CBD, is a progressive organization focused on the advanced research and development of the industry’s finest premium hemp extracts and making them available to the global marketplace. The Company’s notable team, consisting of hemp industry pioneers and natural product experts, chemists, and scientists, is dedicated to producing the finest and purest CBD oil. For more information, please visit the website at www.DiamondCBD.com.
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 other 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 our forward-looking statements, whether as a result of new information, future events or otherwise.
PotNetwork Holding Inc.
Source: PotNetwork Holding Inc.
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