Having Estimated First Quarter Revenue Results of $1.7 Million, Final Figures Exceed Previously Announced Estimate by $100,000
PotNetwork Holding, Inc. 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 an 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.
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.
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 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, and Sunrise Auto Mall, Inc.
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