Players Network (OTCMKTS:PNTV) Continues To Defy The Skeptics

Players Network (OTCMKTS:PNTV) continues to defy the “Nay-Sayers.” While most marijuana stock have been trading on a downtrend for most of 2017, PNTV continues to make new highs. The most recent upswing took the stock to a high of $.2310 on July 12, 2017, on volume that continues to increase.

A little background on the Company for those that are reading about it for the first time. Player's Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 85% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within the Company’s media operations.On July 1, 2017, the State of Nevada put into effect the legalization of recreational marijuana. Las Vegas is now being characterized as the next "Amsterdam." To ring in this historical occasion, Player's Network's Weed TV covered the first recreational marijuana transaction, as part of its upcoming "High Stakes" television series, a special event from Pisos Dispensary. For maximum exposure, Weed TV covered the event via live video broadcast and social media updates and livestreams. The Pisos Dispensary is located a few miles from the Las Vegas strip. PNTV CEO Mark Bradley commented:

"This day has been a long time coming. It marks both the end of prohibition and the true beginning of mass distribution for Green Leaf Farms products. Our products are now available at the Pisos Dispensary in Las Vegas, as well as in top notch dispensaries in Henderson. We are aggressively moving on the opportunities provided by this growing market, and plan to offer our products in many more locations soon. I plan to be first in line Saturday morning to buy a Green Leaf Products and hopefully represent the first recreational transaction in the State of Nevada."

To celebrate this event, customers who purchase one of these Green Leaf Products received a Weed TV 420 T-shirt as a thank you.On Jun 1, 2017 Player's Network, Inc. subsidiary, Green Leaf Farms Holdings, LLC announced the award of its recreational marijuana licenses by the State of Nevada that allows the Company to supply recreational marijuana products to Nevada-based retail dispensaries. This achievement augments PNTV's recent award of two state-issued medical licenses to operate its 27,000-square-foot facility in North Las Vegas. The timing of the licenses being granted was crucial in Player's Network, Inc being able to commence recreational marijuana sales on July 1^st, the first day of legal recreational marijuana sales. PNTV CEO Mark Bradley Stated:

"Qualifying for these licenses is what the company has been working to achieve for the last 3 years. The medicinal market provides great benefits for people in need of marijuana to assist in a number of medical symptoms. From a revenue standpoint, being one of a very small group of companies to be privileged to participate in the recreation market in a place like Las Vegas is truly a blessing for PNTV and all its shareholders,"

The Company also announced on June 2, 2017 that Phase 1 completion of the Green Leaf Farms Holdings 27,000 sq. ft. facility in North Las Vegas had been completed. Phase 2 (of 3) is expected to be completed by August of 2017 which will add an additional 7,000 sq. ft. of cultivation to the facility.Financial reporting remains unchanged from our last review. The Company has a current market capitalization of $116.95 million, on 561.67 million shares outstanding as of July 12, 2017. Player’s Network Inc’s strategy is working so far. The stock should continue on its upward trend based on the fact that the Green Leaf Farms facility has started generating revenues. Insider Financial has been covering PNTV since last March. So far, we’ve been right on the money. We will be updating our subscribers as soon as we know more. For the latest updates on PNTV, sign up below!Image courtesy of Renata K Pienkowski via FlickrDisclosure: We have no position in PNTV and have not been compensated for this article.