As Recent Returns Soar Well Over First Quarter's Revenues of $1,858,347.48, Management Sharpens Focus on Fulfilling Rising Demand.
PotNetwrok Holding, Inc. is pleased to announce today that its wholly owned subsidiary, Diamond CBD, Inc., after a strong record breaking first quarter, continues building momentum into the summer with heightened expectation for Diamond CBD's highly sought after consumable product line. After the past two months of this quarter, revenue totals have reached $2,106,245.87, considerably exceeding the Company's first quarter results.
"At this point, we are focusing our attention on production since our strengthened efforts have been rewarded with even more consumer enthusiasm. As new consumer orders meet growing recurring order flow, we are strategizing to maintain product availability to meet continually heightening demand," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
In April, the Company disclosed that having originally estimated first quarter revenues of $1.7 Million, final figures ultimately exceeded estimates by $100,000.00. Since then, Diamond CBD has reported that the past six months of trade show, expo, and convention attendance, demonstrating Management's determined commitment to achieve strong results, had yielded product demand requiring significant expansion of its manufacturing operations.
Eighty thousand (80,000) Chill Gummies were sold as a result of the recent highly productive road show causing the Company to entirely sell out of its increasingly popular proprietary Chill Gummy line. Diamond CBD recently had announced that for the month of April 2017, the Company had accomplished a considerable boost in revenues year over year. The Company's revenues in April 2016 were just under $40,000.00, a reflection of the Company's infancy. With record breaking April 2017 sales of over $1 Million Dollars, the Company has achieved substantial growth of over 25 times.
PotNetwork Holding's Diamond CBD's recent attendance at the SeeThruEquity event resulted in an equity analyst setting a price target for the Company's shares of $0.25 per share. Other recent show/expo attendance included a presentation at the 7th Annual LD Micro Invitational, being a featured guest on a national radio and webcast, launching new product lines at a major New York trade show, and receiving a positive reception at the Fourth Annual Cannabis World Congress & Business Exposition (2017 CWCBExpo), the definitive business event of the cannabis industry. The Company has also recently presented at the 2017 Marcum Microcap Conference and attended the Southeast Cannabis Conference & Expo.
About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multi-national marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD's team consists of hemp industry pioneers and natural product experts, chemists, and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils and E-Liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holding Inc: PotNetwork Holding, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils, and Sunrise Auto Mall, Inc.
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