New York, New York (NetworkNewsWire) – The predictions for the
cannabis industry are staggering. Statista predicts the market may
exceed $37.3 billion by 2024. Meanwhile, Forbes estimated the $6.5
billion market in 2016 could grow to $30 billion by 2021, and
Bloomberg predicts an increase to $50 billion by 2026. The market
is being fueled by demand and legalization, and it’s not just about
plants. Equipment, infrastructure, cannabidiol products, and
investors are components of an industry that seems to have
unlimited growth potential. For example, PotNetwork
Holding, Inc. (POTN) (POTN
Profile) delivers, through its Diamond CBD subsidiary,
widely-distributed CBD hemp extracts used in an assortment of
edible gummies available in various types and flavors, vapor
liquids, vaping pens, shot packages, and capsules. Others
contributing to a rapidly diversifying industry include
Agritek Holdings, Inc. (AGTK), Marijuana
Company of America (MCOA), Hemp, Inc.
(HEMP), and mCig, Inc.
(MCIG).
PotNetwork
Holding (POTN) is focused on multiple verticals within
the cannabis industry, and, by sourcing hemp outside the U.S.,
side-steps current federally-based legal problems involved in
growing cannabis domestically. Through this strategy, the company
can deliver its products to every state as well as internationally.
Among its list of 15 brands is Diamond CBD Gummies, CBD Liquid
Gold, Premium Hemp Liquid Pet, Relax Extreme CBD, and CBD Double
Shot.
As the CBD industry heats up, PotNetwork subsidiary Diamond CBD
continues to see demand for its products. During its exhibit at the
ASD Market Week Event in Las Vegas earlier this month, Diamond CBD
generated more than $320,000 in revenues (http://nnw.fm/mv9aQ). While the event was a financial
win for the company, it also provided considerable brand exposure
to an attending audience of more than 40,000 buyers from 88
countries.
In the first two quarters of 2017, PotNetwork reported $5.0
million in sales for its Diamond CBD products, $3.2 million of
which were generated in the second quarter alone, representing an
increase of 1,495 percent over prior-year second-quarter revenues.
This achievement puts the company on track to exceed its fiscal
year 2017 forecasts (http://nnw.fm/KxqP2).
“We remain steadfast in our efforts to build real value in our
Company. The level of acceptance we are experiencing can only be
surpassed by our short and long-term vision for growth. As we
continue to accelerate in sales performance, we embrace the
opportunity to create a real and tangible success which we expect
would ultimately be reflected in shareholder value,” PotNetwork CEO
Gary Blum stated in the earnings release.
As PotNetwork grows its market reach, the company’s Diamond CBD
subsidiary is also pursuing medical applications of CBD. Mounting
research industry-wide demonstrates CBD’s potential to provide
symptomatic relief for a wide range of ailments, including
rheumatoid arthritis, diabetes, alcoholism, post-traumatic stress
disorder (PTSD), epilepsy, antibiotic-resistant infections,
neurological disorders, and muscular dystrophy, among many others.
Recognizing considerable opportunity in this field, Diamond CBD is
conducting its own research to develop premium hemp extracts that
contain a broad range of cannabinoids and natural hemp derivatives
to potentially address these key markets.
To assist with this endeavor, PotNetwork is assembling an
advisory board of physicians and medical cannabis specialists to
support management’s plans to formulate, produce, and market a
spectrum of exclusive and diversely targeted CBD blends. The first
to join this new board is Dr. Mark G. Sabbota, who is board
certified in internal medicine and cardiology. His experience
includes a comprehensive understanding of cannabinoid attributes
and corresponding knowledge based on research studies, along with
Controlled Substance and DEA Licensure. He is joined by Dr. David
M. Feldbaum, MD, FACS, who was named to the board earlier this
month (http://nnw.fm/gq1QO). Certified in vascular surgery by
the American Board of Surgery, Dr. Feldbaum brings to the table
substantial knowledge of the intricacies of vascular health and an
acquired understanding of how CBD components can contribute to the
optimization of results in his area of expertise.
“This is an exciting time to be on the forefront of the CBD
revolution. Being instrumental in the development of such
cutting-edge developments, I believe we are enabled to make a
difference in the quality of life for many. We stand at the
threshold of great new discoveries,” Dr. Feldbaum stated in the
press release announcing his appointment.
Dr. Feldbaum isn’t the only one who sees the potential of
PotNetwork’s broader business model. In June, SeeThruEquity
initiated coverage of PotNetwork with a price target of $0.25.
Among other highlights, the analyst noted strength in Diamond CBD’s
sales momentum and an aggressive marketing campaign. PotNetwork
currently trades around $0.05 to $0.06. Among other key items, the
analyst report (http://nnw.fm/fc27Ks) notes PotNetwork’s
year-over-year Q1 2017 revenue growth of 178% and forecasts an
increase of 712% in revenues to $8.3 million based on new product
launches, strong marketing, and extended international market
reach.
A look at other players in the diversified cannabis industry are
further evidence of increasing demand, application and
momentum.
Year-to-date, real estate investment firm and branding
consultant Agritek Holdings (AGTK) has doubled the
size of its brand portfolio to include four lines, and, earlier
this month, it received an additional $300,000 in backing to fund
the development of its land projects in Puerto Rico, Colorado,
Canada and Washington State (http://nnw.fm/tR1Mc).
Agritek says it has started construction on a cultivation
facility in Puerto Rico (http://nnw.fm/gAw0o), where it is funding a
25,000-square-foot facility near San Juan, along with the project’s
equipment and extraction systems. Per an operations and licensing
agreement, the company will be able to take advantage of multiple
revenue streams, equipment lease back fees, and monthly consulting
fees. It will also have exclusivity for the sale of its oils, vape
products, and edibles, products used in Puerto Rico by people with
anxiety, multiple sclerosis, epilepsy, and cancer among 14
preapproved conditions for which medical marijuana is
permitted.
Agritek also recently announced that it is receiving orders for
its MicroDose Oral Strips brand, an alternative to traditional
cannabis products in that they are dissolved under the tongue or
between the gum and cheek in the mouth, allowing the ingredients to
be absorbed directly into the bloodstream.
Marijuana Company of America (MCOA) has seen
growth in its cannabis-related operations as well, in the form of a
$5 million fixed funding commitment in August and a $250,000
investment in MoneyTrac Technology, Inc. The deal gives the company
a 15% ownership interest in the firm and opens the door to
electronic payment processing services, such as the use of mobile
applications, E-Wallet services, and processing of prepaid, debit,
and credit cards. It also patented its herbal brain health product,
hempSMART™ Brain, last month, which is intended to support
neurological health and promote neurogenesis through its
cannabidiol formulation.
Hemp, Inc. (HEMP) hasn’t slowed the pace
either. In January, the company announced plans to expand its
presence in North Carolina, with a 3,000-acre hemp farm, following
agreements to purchase 1,000 acres from Mullen View Farms and 500
acres from John Finch Farms. The company also has a
70,000-square-foot industrial processing facility in Spring Hope,
North Carolina. Aside from its growing operations, it also recently
launched a critical piece of equipment. The NuAxon Tech
CO2 Supercritical Extractor was purchased in a joint
venture with Freedom Leaf, Inc. (OTCQB: FRLF). This system is
expected to significantly boost revenue and facilitate growing,
cultivation, and cloning processes for high cannabidiol plants.
Serving the cultivation, construction, and production packaging
aspects of the marijuana industry, mCig, Inc.
(MCIG) is no longer just a vaporizer manufacturer. It has
also expanded into the merchant processing segment. The company
offers secure payment solutions to participating dispensaries, at
low rates for e-commerce and businesses that accept certain credit
cards. With high uptime, fast-clearing funds, and secure
transactions, the processing system is well-suited for businesses
selling cannabidiol products via e-commerce websites. In addition,
the company recently applauded the Senate for an amendment that
would prevent the government from interfering with medical
marijuana programs where they are legal. The legislation is a full
amendment to the Commerce, Justice, and Science Appropriations Bill
for 2018, prohibiting federal funds from being used to stop states
from implementing laws regarding medical marijuana use, possession,
distribution, and cultivation.
As discussed above, growth in the global cannabis industry is
accelerating due to increased legislation, consumer demand, and the
innovations of key market players. PotNetwork Holding is one
example of the power of product diversity as it reaches across the
industry in the U.S. and internationally. The company continues to
execute its mission of making an impact on an industry that, while
in its relative infancy, continues to surpass expectations and
yield incredible opportunity for growth.
For more information on PotNetwork Holding
please visit: PotNetwork
Holding, Inc. (POTN)
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