PotNetwork Holdings Files First Quarter 2020 Report with SEC

Rhea-AI Summary

PotNetwork Holdings (POTN) announced the filing of its First Quarter 2020 Report with the SEC, indicating sales exceeded $2 million for the period of January to March. President Kevin Hagen noted that sales have remained steady despite COVID-19, with expectations for continued growth. The company plans to file its Second Quarter 2020 Report by the end of August, aiming to update its SEC filings. PotNetwork acts as a holding company for subsidiaries including Diamond CBD, which specializes in premium hemp extracts and products.

Positive

• Sales for Q1 2020 exceeded $2 million.
• Sales in Q2 2020 have remained steady and are expected to grow further.

Negative

• None.

Company Plans to File Second Quarter 2020 Report before the end of August

FT. LAUDERDALE, FL / ACCESSWIRE / August 18, 2020 / PotNetwork Holdings, Inc. (OTC PINK:POTN) ("the Company") announced today that the Company has filed its First Quarter 2020 Report with the Securities and Exchange Commission ("SEC").

Kevin Hagen, President, CEO and a Director of the Company, stated, "We are pleased to announce that the Company has now filed its First Quarter 2020 Report on form 10-Q with the SEC. Sales for the period of January through March exceeded $2,000,000. Despite the current COVID-19 pandemic situation, sales in the second quarter have remained steady and have been building. By month's end, we plan to file our Second Quarter 2020 Report for the period of April through June, at which point the Company will then be up-to-date with its SEC filings." He added, "Today, we are continuing to refine and refresh our extensive product line and expect sales in 2020 to build month-over-month to a strong finish."

About PotNetwork Holdings, Inc.: PotNetwork Holdings, Inc. (OTC Pink: POTN) is a publicly traded SEC reporting 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.

As an SEC reporting company, the Company's financial statements for calendar years 2017, 2018 and 2019 are fully audited. All the Company's public SEC filings are readily accessible on the SEC's Edgar website under "PotNetwork Holdings, Inc."

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, vape liquids and other CBD containing products found anywhere. For more information, please visit its website at www.DiamondCBD.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.

Contact:

PotNetwork Holdings, Inc.
1-800-915-3060
investor@PotNetworkHolding.com

SOURCE: PotNetwork Holdings, Inc.

View source version on accesswire.com:
https://www.accesswire.com/602135/PotNetwork-Holdings-Files-First-Quarter-2020-Report-with-SEC

FAQ

What were PotNetwork Holdings' (POTN) sales figures for Q1 2020?

PotNetwork Holdings reported sales exceeding $2 million for the first quarter of 2020.

When will PotNetwork Holdings file its Q2 2020 report?

PotNetwork Holdings plans to file its Second Quarter 2020 Report before the end of August.

What impact did COVID-19 have on PotNetwork Holdings' sales?

Despite the COVID-19 pandemic, PotNetwork Holdings reported steady sales during Q2 2020.