The increase in CBD usage and media exposure opens up minds
As cannabis has become more acceptable to be featured on media these days, so is the finding more ways on how to use them. This leads to companies looking to produce cannabidiol (CBD) products. One of these companies is PotNetwork Holdings Inc.
PotNetwork Holdings Inc. (OTCMKTS:POTN) is well known as a holdings company with prominent subsidiaries such as Diamond CBD. It has also made recent ventures into the cryptocurrency scene with the launch of its brand-new subsidiary, Blockchain Crypto Technology Corporation.
First Capital Venture is the primary catalyst behind POTN’s cannabidiol-driven initiatives through its subsidiary Diamond CBD. It is the machine that runs all the company’s research and production related to high-quality hemp products, and of course, CBD in particular. CBD has produced proven results in producing remedies and the alleviation of various conditions, ranging from epileptic disorders to autism.
Documented Success
Fuelled by its expertise, First Capital Venture provides only the highest quality and lab-tested CBD products in a variety of forms including vapes and grinders. Diamond CBD edibles have proven to be a hit with consumers as well. Its premium CBD lineup is available in over 10,000 stores throughout the US, where cannabis regulation is rapidly becoming widespread.
Its formula for success continues to yield results. POTN announced its impressive 2018 Q1 earnings of US$6.3 million (AU$8.36 million), nearly a threefold increase on its 2017 Q1 numbers of US$1,858,347 (approximately AU$2.5 million). It was also reported that 25 percent of its overall revenue was generated by e-commerce transactions.
In its recently released financial report of 2017, the company’s total revenue was listed at US$14.5 million (AU$19.25 million). POTN managed to accrue over US$750,000 (AU$996,000) in just the first 10 days of February, highlighting its growth from the previous year. It also sold over US$270,000 (AU$358,000) at the 37th Champs Trade Show at the Las Vegas Convention Center from Feb. 19-21, 2018. The trade show is known for being a premium showcase for prime exhibitors to present its newest and innovative product lines to buyers in attendance.
Apart from those, another 550 wholesale distributors will also provide additional retail sales of POTN’s extensive CBD lineup, which features 15 different categories including vapes, oils, and extracts.
As the company further expands its product range with successful new items such as well-being products, it has been amassing some significant numbers and don’t appear to be slowing down anytime soon. Aside from increasing CBD transparency, this shines the spotlight on POTN as an organisation helping to put CBD on the map and increase its presence.
Expanding the product line
Factoring into POTN’s increasing numbers is its constant product expansion, which comes as part of its incentive to make forays into other industries. For instance, POTN’s recent addition to its CBD lineup, Meds Biotech, is focused on impacting the medicine industry and providing pharmacist-backed products that could be readily prescribed to patients by medical doctors and specialists. Meds Biotech also provides nutritional and health benefits and is ideal as a dietary supplement as well.
On the other hand, the MediPets brand was launched amid a booming pet care industry, worth US$69.36 billion (AU$92.09 billion) in just the local US market. Backed by extensive research and testing, MediPets are pure and 100 percent organic CBD oil. According to Technavio’s research report on the pet care market, organic and natural pet foods will be crucial to driving the overall industry further.
North America alone accounts for 40 percent of the pet care market, with an expected increase of five percent between 2016 and 2020. This represented a prime opportunity for POTN to get involved, as pet owners in this particular region tend to focus more on providing their pets with premium nutritional and health products.
CBD stimulates change and gradual adoption
In 2007, the World Anti-Doping Agency (WADA) removed CBD from the list of prohibited substances on the grounds that its effects don’t lead to unfair performance gains or pose imminent health risks to athletes. Aside from the Olympics, the governing body also oversees regulation on MMA and other sports agencies.
MMA fighter Nate Diaz, an avid cannabis user and supporter, commented on the removal of the substance from the comprehensive list of banned substances. "It helps with the healing process and inflammation, stuff like that," Diaz told the assembled media. "So you want to get these for before and after the fights, training. It'll make your life a better place."
The ruling was a monumental one, as it opens up the possibility of questioning enforcement of CBD in other professional organisations, such as the National College Athletic Association, National Basketball Association, The National Football League, as well as others.
Former NBA commissioner David Stern is also an advocate of medicinal marijuana, states: “I think we have to change the Collective Bargaining Agreement and let you do what is legal in your state. If marijuana is now in the process of being legalised, I think you should be allowed to do what’s legal in your state.”
CBD has also received a stamp of approval by the World Health Organization (WHO) when it deemed that the compound wasn’t addictive or detrimental to health. As cannabis begins to make headway in its reputation, it is gradually becoming more accepted as a true treatment option for its medicinal properties and this movement doesn’t seem to be losing any traction.
Article written using press releases sent for consideration.
