PotNetwork Holdings Inc (OTCMKTS: POTN) Reports a 98% Increase of Its Revenue in 2018 Compared To 2017
PotNetwork Holdings Inc (OTCMKTS: POTN) has confirmed that it scaling greater heights in terms of revenue; thanks to its subsidiary Diamond CBD. Compared to the $1 million the company achieved in April of 2017, the company’s April 2018 revenue in sales was over $2 million, a 98% increase from last year. The increase has been associated with Diamond CBD’s most successful products some of them being Biotech Creams, Liquid Gold Vape Juice, Tinctures, Vape Additive and Chill Gummies.
PotNetwork Holdings is acting swiftly to protect industry dominance
As the industry embraces competition an international market seeks approval of cannabis and hemp a majority of producers, sellers, and suppliers are also renewing their focus. This is the sole reason that PotNetwork Holdings is also advancing towards expansion and particularly into the regional markets in the U.S. With the swift move, it has its eyes on grabbing market dominance. It is worth noting that it has embraced some domestic changes such as direct sales tobrick and mortar retailers.
By virtue of Diamond CBD’s success, Diamond CBD is also diversifying the marketing of its products by trying to penetrate into the underdeveloped sectors. It is pursuing wellness centers, health food channels, and pet supply industry, fitness centers among others. Apparently, the subsidiary’s products are already selling in Georgia, Texas, New York, California and Florida. Meanwhile, following the introduction of H.R.5485 the Hemp Farming Act of 2018, by US Senate Majority Leader Mitch McConnell, there are high expectations of having the federal Schedule I drug status removed.
Cannabis industry experts expect the approval of long-term ramifications on global policies
The FDA has been collecting public comments regarding the impact of scheduling changes of cannabis and related products. The results are expected to be made public in an upcoming 40th meeting of the World Health Organization’s Expert Committee on Drug Dependence (ECDD). According to industry experts, there should be a review of the global policies governing the cannabis industry. The conference is scheduled to take place in June 2018 in Geneva, Switzerland.
While at this, President and Chief Executive Officer of PotNetwork Holdings say, “We will continue to invest in innovation, line extensions, and market awareness in order to reinforce our current industry leadership position.”