Company Prepares to Meet Uplisting Requirements to Achieve OTCQB Designation
FT LAUDERDALE, Fla., June 18, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- PotNetwork Holdings, Inc. (OTC Pink:POTN) announced today that its Board of Directors has directed the Company’s counsel to prepare a Form 10 to be filed with the Securities and Exchange Commission, to become a fully reporting SEC company. This action is fundamental to the Company’s efforts to demonstrate heightened transparency to its investors, and bring the Company greater visibility and credibility before a substantially larger group of qualified investors.
The Company expects to file the Form 10 not later than June 30, 2018.
This announcement comes following the Company’s recent release on April 2, 2018 of its audited consolidated financial statements for calendar year 2017, certifying 2017 revenues of $14.49 Million, and gross profits of $5,180,865. “We believe that we have developed a company with a business model and market traction deserving of a stronger presence in the financial markets. With revenue continuing to demonstrate strong gains year-over-year and an ever expanding distribution footprint, this Board of Directors’ decision was inevitable. It sets the stage for several significant developments to be announced over this next calendar quarter. This filing is a pivotal event for us,” stated Richard Goulding, PotNetwork Holdings’ CEO.
About Diamond CBD Inc.: Diamond CBD focuses on the research, development, and multinational 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, doctors 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, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holdings, Inc: PotNetwork Holdings, 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.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: PotNetwork Holdings, Inc. Investor Relations: Marisol Elwell
1-800-915-3060 investor@PotNetworkHolding.com