$2,486,678 generated in third quarter
FORT LAUDERDALE, FL / ACCESSWIRE / December 10, 2020 / PotNetwork Holdings, Inc. (OTC PINK:POTN) ("the Company") in its quarterly filing with the Securities and Exchange Commission ("SEC") on November 20, 2020, released its results from operations for the third quarter of 2020.
Lee Lefkowitz, CEO of the Company, stated, "For the nine-months ended September 30, 2020, the Company had revenues of $7,476,938 of which $2,486,678 were generated in July, August and September. Gross profit for the nine-months ended September 30, 2020, was $2,821,664.
Although 2020 has been a difficult year for so many of us, not the least of which has been the impact of COVID-19, the Company remains optimistic and eager with new products to supplement the highly successful items already sold in the market. During the third quarter, we have been working on our plan to pivot the Company in 2021 into new businesses and ventures that will allow us to leverage our brand recognition, segment leadership position and marketing prowess."
PotNetwork Holdings, Inc. (OTC PINK:POTN) , a publicly traded SEC reporting company, is 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.
Diamond CBD, our primary operating subsidiary, focuses on the development, and marketing of premium hemp extracts containing a broad, CBD isolate and full spectrum CBD oil of natural hemp derivatives. Diamond CBD's team includes hemp industry pioneers and experts dedicated to producing the purest and most effective cannabidiol (CBD) containing products. The result is a robust selection including powerful natural CBD oil, tinctures, smokeables, CBD edibles, and other CBD-containing products including CBD creams, health and beauty items as well as CBD pet products. For more information, please visit our website at www.DiamondCBD.com.
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.
PotNetwork Holdings, Inc.
SOURCE: PotNetwork Holdings, Inc.