PotNetwork Holdings Inc (OTCMKTS:POTN) Is A Revolutionary Cannabis Industry Leader

It has barely been a month since our last review of PotNetwork Holdings Inc (OTCMKTS:POTN) which goes to show how well the company has been performing.The company exhibited stellar financial performance over the past year, and the reflection of this has been in their share price. To exemplify this; during our last review – accessible here – the company was trading just above $.1. Currently, their share price has surged to $.85 thus giving their shareholders over 750% gains over this period.The chart below shows the above price action in detail: POTN Daily ChartWith this in mind, we decided to assess how the company which we defined as having a ‘…record-breaking year’ during our most recent review has been doing since and how it is expected to do going forward.History of POTNPotNetwork Holdings Inc was founded back in 2004 as SND Auto Group Inc. however, this name was later changed to PotNetwork Holdings Inc in March 2017 and their headquarters moved to Fort Lauderdale, Florida.The company operates as a holding company with about seven subsidiaries mostly primarily within the cannabis segment but also within other sectors.Its subsidiary Diamond CBD, Inc is focused on research and development as well as marketing of hemp extracts. These extracts mainly contain natural hemp and a wide range of cannabinoids, all which go to serve the purpose of POTN within the cannabis field. Sunrise Auto Mall Inc, on the other hand, focuses on the auto dealership segment as shown by their engagement with the pre-owned auto dealership business segment. The above diversification ensures that the company maintains a position within their initial auto business while venturing into a lucrative field – marijuana – from where they can boost the value of the firm and that to their shareholders.Recent DevelopmentsTo begin this segment, we allude to transparency, a promise which PotNetwork Holdings Inc made to its shareholders.The company announced that the completion of its audit was expected by the end of the month. Their shareholders would then have the ability to review the company’s financials thence. With their management sticking to their commitment to keeping their shareholders fully engaged and informed, the company expects that this process will ensure that the company’s shareholders and other stakeholders are well aware of the on-goings within its operations and can engage with the company fairly.The audit, moreover, serves to ensure that all their filings are made as they work towards their short-term strategy of an OTCQB listing as well as their long-term goal of being listed on the NASDAQ exchange.This announcement was followed by a report by Traders News Source. This is an independent equity research company focused on analyzing small and medium cap companies.In their report, they detailed the successes of PotNetwork Holdings Inc and brought to light some of the achievements of the company. They also stipulated that the company had risen in ranking among cannabis companies and was on the path towards dominance within the cannabis industry.The above analysis was first backed by the fact that the cannabis industry – as well as other components such as hemp and cannabidiol – serves a growing market and that with the recorded growth being exponential, the grounds on which the cannabis companies could make money were nearly limitless.The report finally quoted the Huffington Post which hailed PotNetwork Holdings as One of Five Notable CBD Revolution Industry Leaders.All the above go a long way in proving our initial hypothesis, POTN is a growing company within a growing industry. As such, the company is expected to grow further as they work towards venturing into new fields and markets.Financial PerformanceThe company has ended January on a happy note.This followed the announcement that their subsidiary, Diamond CBD, Inc had exceeded their revenue projections of about $8.3 million and instead recorded over $14.5 million in revenues. This was about 70% more than the projections and was attributed to the increase in the company’s month-on-month sales growth.The high success came on the backdrop of a 42% increase in revenues between the second and third quarters of 2017 (2Q2017 and 3Q2017 respectively) from $3.1 million to $4.4 million. Furthermore, their profits also rose over the same period by over 36% to $293,997 from $215,560.The above explains the optimism of their management on the future of the company as stated by their CEO, Richard Goulding who said:

“We are poised to continue 2017’s growth during 2018 as we embark on new and unique marketing initiatives and embrace new opportunities with the potential of providing strong returns on investment for our shareholders.”

Source:Over the coming period, we remain as optimistic as their management that the company will indeed rise and that they will grow in 2018.ConclusionPOTN is growing quite fast. This may be attributable to the growing industry or proper management. However, the fact that they are already rising to the top makes them stand out. Going forward, we remain bullish about the stock as they work towards crossing the $1 mark in their share price.We will be updating our subscribers as soon as we know more. For the latest updates on POTN, sign up below!Disclosure: We have no position in POTN and have not been compensated for this article.