PALM BEACH, Florida, November 28, 2017 /PRNewswire/ --
By this point, it's no secret that CBD-based products are one of the hottest niches in the booming cannabis industry. Analysts are projecting revenues to continuing growing at a steady rate year over year for the foreseeable future, with overall revenues topping the billion-dollar mark within the few years. Leaders in the CBD space have seen revenues increase each year, with top brands averaging over $2 million per year. A few prominent companies in the headlines this week include: PotNetwork Holding Inc. (OTC: POTN), Cannabis Science Inc. (OTC: CBIS), Hemp Inc. (OTC: HEMP), mCIG Inc. (OTC: MCIG), India Globalization Capital Inc. (NYSE: IGC).
PotNetwork Holding Inc. (OTC: POTN) announces the retirement of 300,000,000 common shares held by principal shareholders. This reduction of over half the issued and outstanding common shares will be exchanged for non-trading preferred shares. Upon retirement, this reduction will bring the Company's current issued and outstanding common shares of 569,920,485 down to a total of 269,920,485 issued and outstanding common shares. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
PotNetwork Holding announced earlier this month, its wholly owned subsidiary, Diamond CBD, Inc., has reported its revenues for October. With nearly $1.7 million generated, the Company's sales exceeded September's revenues by 42%. "It's exciting that our sales continue to strengthen. With our continuing strategy in place, we approach the end of the year with great anticipation," stated Chief Executive Officer, Richard Goulding, MD.
PotNetwork also recently announced that the Company had recently reported Third Quarter Revenues of $4,444,800.00, exceeding Second Quarter Results by 29%. The Company also retained the auditing services of East West Accounting Services, LLC, a Public Company Accounting Oversight Board (PCAOB) registered CPA firm, to provide a methodical review and analysis for the audited verification of the Company's recent monthly reported revenues.
In other industry developments and market performances of note:
Cannabis Science Inc. (OTC: CBIS) closed Monday up over 14% with over 31 million shares traded throughout the day. Last week, the company announced that its expansions plans are well underway as it has signed agreements to acquire and officially open the first Cannabis Science PRE ICO Medical Marijuana dispensary, in Los Angeles, California. "Attaining this first PRE ICO Dispensary in L.A. is a huge step for Cannabis Science as it opens the door to speed up our planned expansion in the Los Angeles area and eventually California statewide," stated Cannabis Science Inc., President & CEO, Co-Founder, Mr. Raymond C. Dabney. "This is a prime example of our resilient and aggressive negotiations to acquire multiple pharmacies across the Los Angeles area. Finalizing this acquisition is just the first step of many that Cannabis Science will be taking to establish a statewide presence, with a nationwide future goal.
Hemp Inc. (OTC: HEMP) closed even on the day on Monday trading over 24.5 million shares by the market close. Hemp, Inc. recently announced that its wholly-owned subsidiary Hemp University, LLC will hold its most vital and anticipated educational symposium of the year... Hemp Money Event: Economics, Lessons & Planning for 2018. The symposium will be held on Saturday, December 2, 2017 from 8:30am to 5:00pm EST at the Shrine Club (320 Airport Rd, Rocky Mount, NC 27804). Attendees will learn the economics of growing industrial hemp for fiber, seeds, and CBD; learn from mastery POD growers about their experiences and lessons learned; and, learn how to prepare for the 2018 industrial hemp growing season with a well-defined blueprint for success.
mCIG Inc. (OTCQB: MCIG) closed up slightly on Monday at $0.1716 with over 1.9 million shares traded by the market close. mCig, Inc., a diversified company servicing the legal cannabis markets, recently announced it has entered into an agreement between OBITX, Inc., formerly known as GigeTech, Inc., a wholly owned subsidiary of MCIG and FlameNetworks to implement the proprietary eHesive Advertising Network with an Exclusive territory as an EU partner. FlameNetworks is a hosting company founded in 2005 designed for high quality, cost-effective global hosting solutions, servicing over 20,000+ professional accounts comprising of multiple companies, web agencies and conglomerates / client websites and traffic, hosted from the company's multiple data centers and a multi-layered network with capability over 700Gbps bandwidth.
India Globalization Capital Inc. (NYSE: IGC) closed up 12.24% on Monday at $0.55 with over 1.2 million shares traded by the market close and was also up over 8% in after hours trading as well. The company recently announced the voting for Proposals Three and Four from its Notice of Annual Meeting of Shareholders, dated October 5, 2017. Proposal Three seeks approval of the grant of 1,900,000 shares of common stock to be granted from time to time to the Company's current and new employees, advisors, directors, and consultants by the board of directors, pursuant to certain metrics including performance, vesting and incentive as set by the board of directors and or the CEO; and Proposal Four seeks approval of the issuance of up to 2,000,000 shares of the Company's common stock to Bricoleur Partners, L.P. The voting on these two proposals was adjourned to December 15, 2017 at 12:00 am Eastern Standard Time to allow the Company's stockholders additional time to vote. Stockholders who have already voted do not need to recast their votes. Proxies previously submitted in respect of the meeting will be voted at the adjourned meeting unless properly revoked.
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