PALM BEACH, Florida, April 26, 2017 /PRNewswire/ --
Through various introductions of latest innovative services, mergers and acquisitions along with product development, the CBD niche of the explosive cannabis industry continues to see impressive growth. Companies with recent developments of note in the legal marijuana industries include: PotNetwork Holding Inc. (OTC: POTN), Medical Marijuana, Inc. (OTC: MJNA), Amfil Technologies, Inc. (OTC: AMFE), Players Network (OTC: PNTV), MassRoots, Inc. (OTC: MSRT)
PotNetwork Holding Inc. (OTC Pink: POTN) 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://marketnewsupdates.com/news/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.
In other industry developments and happenings in the market:
Medical Marijuana, Inc. (OTC: MJNA), the first publicly traded cannabis company in the United States, last Friday announced that its subsidiary HempMeds® is sponsoring San Diego EarthWork's 28th annual EarthFair event. EarthFair 2017 will take place from 10 a.m. to 5 p.m. on August 23 in San Diego's Balboa Park. Known as the world's largest free annual environmental fair and Earth Day celebration, this family friendly and educational event draws over 60,000 participants annually. This year, EarthFair will include a 'Canna Village', which will feature live entertainment and 40 vendor booths designed to highlight top leaders in the cannabis and hemp industries.
Amfil Technologies, Inc. (OTC: AMFE) closed up over 12% on Tuesday trading over 9.4 million shares by the market close. Amfil Technologies manufactures an automated hydroponic vertical farming system designed for use in the rapidly growing medical marijuana industry. The system has also been designed to deliver fluids, nutrients, and carbon dioxide more effectively and efficiently than conventional growing systems. The system has been recognized by several cannabis producers and distributors in Canada, Europe and the US and has an established client base.
Players Network (OTCQB: PNTV) closed up over 8% on Tuesday trading over 3 million shares by the market close. Player's Network has an 86% stake in Green Leaf Farms Holdings ('GLFH') marijuana subsidiary, which holds a special use permit for production and cultivation license(s) granted by the city of North Las Vegas and the state of Nevada.
MassRoots, Inc. (OTCQB: MSRT) closed up on Tuesday at $0.673 trading over 900,000 shares by the market close. MassRoots is one of the largest technology platforms for the regulated cannabis industry. The company's mobile apps enable consumers to provide community-driven reviews of cannabis strains and products, enabling consumers to make educated cannabis purchasing decisions. MassRoots is proud to be affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association.
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