PotNetwork
Holdings' CEO, Kevin Hagen, Provides
Letter to Shareholders Announcing Form 10
Filing
FORT LAUDERDALE, FL
-- May 29, 2019 -- InvestorsHub NewsWire
-- PotNetwork
Holdings, Inc. (OTC Pink: POTN)
("the company")
released today an open "Letter to Shareholders" from its President
and Chief Executive Officer, Kevin Hagen, providing an update on
the recent Form-10 SEC filing and the company's achievements to
date. The letter follows:
Dear
Shareholders,
Following on from
my last
letter detailing the various successes
of the company, I am writing to provide you with a further update
on some of our key programs as well as an explanation of our
immediate plans. In particular, I am pleased to highlight our
recent filing
of a Form 10 registration statement with the
U.S. Securities and Exchange Commission (SEC) meant to register our
common stock under the Securities Exchange Act of 1934.
This filing
included our PCAOB compliant audited financial statements for
the years ended December 31, 2018 and December 2017. The audit of
the financial statements was completed by Yusufali &
Associates, a PCAOB member firm.
The company's
voluntary filing of a Form 10 registration statement will make it
subject to the periodic reporting requirements of the Act, which
includes annual, quarterly, and current report filings.
Additionally, the filing will enable us to move forward with our
application to OTC markets in order to uplist to the OTCQB market
tier.
These developments
represent a significant step forward for the company, and help
underline our renewed commitment towards transparency and better
communication with both existing and new investors. In that spirit,
I would like to provide a further update on some of our ongoing
initiatives.
The
PotNetwork Magazine is hot off the press
Our publishing
division represents one of the most exciting developments in our
company to date. Our wholly owned subsidiary, PotNetwork
Media Group, is at the forefront of a revival in print
journalism.
The recently
launched PotNetwork Magazine - which went into circulation in
February - already enjoys a growing readership base of 30,000
people, which includes individual cannabis investors,
entrepreneurs in the cannabis industry, high-level executives and
CEOs. These numbers beat those of major competitors like MG
Magazine (25,000), Marijuana Business Daily (15,000) and Marijuana
Venture (12,000).
The company is
working hard to educate advertisers about the benefits of a
featured ad in our publication, and we predict solid growth over
the coming quarters as the PotNetwork Magazine becomes an integral
part of the marijuana industry's ecosystem.
Diamond CBD
rocks CHAMPS
In conjunction with
our ongoing effort to reach out to new retailers and consumers, our
company attended the CHAMPS trade show in Atlantic City, New
Jersey, from May 21 through May 23. The event offered a unique
opportunity to show off some of our top brands.
At the show, we
exhibited several new products to complement our existing,
ever-popular lineup of CBD tinctures and gummies. This included our
new selection of CBD
Dried Fruits, CBD-infused edibles such as
apples, raisins, and bananas, as well as a line of CBD-infused
chocolate snacks, produced under the Choco-Budz
brand.
These trade shows
are an essential part of our program to educate retailers and
customers as they help us refine our brands and build customer
loyalty, an essential undertaking as the field becomes ever more
competitive.
An incredible
year ahead
These efforts are
the beginning of what is shaping up to be an incredible year for
our company. We had an incredible year in 2018 when we
earned over
$25 million in revenue, a 78% year-over-year
increase, and we expect to handily beat those figures in
2019.
I would like to
once again thank every one of our investors for their continued
support. I am proud to have you with us on this incredible
journey.
Best
regards,
Kevin Hagen,
President and 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
principal subsidiaries, First Capital Venture Co., the owner of
Diamond CBD, Inc., the maker of Diamond CBD products,
and PotNetwork
Media Group, Inc., the publisher of PotNetwork News and PotNetwork
Magazine. For more information, please visit, www.potnetworkholding.com.
Safe
Harbor: 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.
Contacts
PotNetwork
Holdings, Inc.
Investor
Relations:
1-800-915-3060
investor@PotNetworkHolding.com