PotNetwork Holding, Inc. (OTC: POTN) this morning announced the release of its unaudited financial statements for fiscal year 2017. Owing to the rapid growth of its wholly-owned Diamond CBD, Inc. subsidiary, PotNetwork achieved revenues of $14.5 million in calendar 2017. Per the update, this trend of strong sales has continued into 2018, and the company intends to report its January sales figures by mid-February. PotNetwork also provided an update regarding its ongoing PCAOB audit in this morning’s news release. Due to factors beyond the company’s control, the audit has taken longer than originally projected. In an effort to combat these delays, PotNetwork has engaged Paritz & Company, PA of Hackensack, New Jersey, to assist PCAOB auditor East West Accounting Services in bringing the audit to a rapid conclusion. In anticipation of the completion of the audit, PotNetwork is preparing a Regulation A filing, which is expected to enable it to uplist to the OTCQB Venture Market as part of its long-term goal of achieving a Nasdaq Capital Market listing.
To view the full press release, visit http://ibn.fm/funNL
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About PotNetwork Holding, Inc.
PotNetwork Holding, Inc. (OTC Pink: 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. For more information, visit the company’s website at www.PotNetworkHolding.com
Pursuant to the applicable federal law, the sale or distribution of CBD with less than 0.03% of tetrahydrocannabinol by retailers may be permissible in all states. However, the local, state and federal laws regarding these issues tend to remain in flux and should be accordingly reviewed by local counsel and, as such, legal advice is not intended, but specifically disclaimed.
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