PALM BEACH, Florida, October 12, 2017 /PRNewswire/ --
The consumer demand for Cannabis, Marijuana, Hemp and CBD-based oil products continue to increase across North America as a result of the growing awareness about the health benefits of CBD oil. In states in the U.S. alone that have legalized the recreational and/or medical sale, possession, and use of marijuana, CBD Oil supplements and other CBD products such as edibles and salves can be purchased from most dispensaries. Cannabis-based wellness products have gone mainstream with the announcement that CW Hemp, a leader in cannabis-based health and wellness supplements, are now available at Target. According to Research and Markets, analysts forecast the global CBD oil market to grow at a CAGR of 39.19% during the period 2017-2021. Active in the industry this week includes: PotNetwork Holding Inc. (OTC: POTN), SinglePoint, Inc. (OTC: SING), Medical Marijuana, Inc. (OTC: MJNA), Player's Network, Inc. (OTC: PNTV), mCig Inc., (OTC: MCIG).
PotNetwork Holding Inc. (OTC: POTN) is delighted to announce that its wholly owned subsidiary, Diamond CBD, Inc., has delivered yet another impressive month of financial and industry growth. For the month of August 2017, Diamond CBD achieved record breaking revenues of $1,764,880.00, which exceeded July revenues by 20.9%.
As a result of delays caused by Hurricane Irma, management pivoted to prioritize efforts to the re-establishment of speedy and seamless fulfillment, causing a delay in the public announcement of August's revenues. Recovery is practically complete, and announcements will be forthcoming on a timely basis moving forward, as usual. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
"As the summer comes to a close, we continue to be very happy with our growth on every level. In consideration of our recent trend of monthly record breaking growth, we prepare for a whole new level of corporate growth. Moving into the fall, our expectations include a strengthening position in the medical sector of the industry and advancement in the financial market based on consistent growth and heightened transparency," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
Second quarter and year-to-date operating results confirm PotNetwork Holding's revenues maintain strong growth with performance continuing to exceed fiscal 2017 forecasts. With reported revenues of $5,077,625 for the first 6 months of fiscal 2017, and a net profit of $369,237, the Company concluded the first half of 2017 with a positive net cash flow of $395,009. Based on earlier reported financial statements with OTCMarkets, the Company continues on track to exceed its projections established for 2017.
In other industry developments and market performances of note:
SinglePoint, Inc. (OTC: SING) closed up over 9% on Wednesday trading over 5.7 Million shares by the market close. UAHC Ventures, LLC, a wholly-owned subsidiary of United American Healthcare Corporation, announced on Wednesday that it has invested $600,000 with SinglePoint, Inc (SING) ("SING") through the purchase of a Secured Promissory Note and Warrant. In exchange for UAHC Ventures' investment, SING has issued UAHC Ventures both a Secured Convertible Promissory Note in the original principal amount of $670,000 and a warrant to purchase 5,000,000 shares of SING's common stock. Monthly redemption payments due under the financing begin twelve months following the close of the transaction and may be made in cash or by converting redemption amounts into shares of SING's common stock. SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry.
Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, announced on Wednesday that it has expanded the size of its operations warehouse, more than tripling the size of the previous site. This expansion is a direct result of the rapid sales growth within the portfolio of companies, and with this growth over the coming months will come approximately 20 new employment opportunities at the operations facility. "This expansion has been needed for a while now, as we were bursting at the seams. The most exciting thing about our new larger facilities and staff is we will be able to process as many as five times the number of orders than previously possible," said Medical Marijuana, Inc. Subsidiary Kannaway® CEO Blake Schroeder.
Player's Network, Inc. (OTCQB: PNTV), a diversified holding company operating in media and marijuana, announced this week that WeedTV.com successfully launched, with an original, live-streamed production from September 22 through September 25 at a stunning private estate/resort in Las Vegas, which became 'Weed House'. Weed House was an incredible location which offered many different locations which acted as sets. The property had a lazy river, bridges, waterfalls, and a sand beach pool surrounding a modern mansion, which served as an amazing backdrop for production. We had crews shooting multiple shows throughout the property maximizing the ability to shoot simultaneous productions. The production resulted in the development and creation of 7 original series and new pilots consisting of over 340 individual episodes.
mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp and CBD markets and leading distributor of innovative products, technologies, and services for the global recreational and medical cannabis industry, announced this week the launch of its new cannabis focused online ad network eHESIVE. Through eHESIVE, mCig offers online publishers and advertisers a full service, user friendly platform for helping to generate revenue by reaching targeted cannabis consumers. Developed under the oversight of Andrus Nomm, the technical brainchild behind the enormously successful and wildly infamous MegaUpload network, eHESIVE offers customers a streamlined user experience while providing in-depth analytics and highly tailored targeting options that give advertisers the power to fully optimize their digital marketing and giving publishers complete control over their sites' content.
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