NetworkNewsWire Editorial
Coverage: With sales projected to
achieve a compound annual growth of 25 percent to reach over $20
billion by 2021, the cannabis market is one of the most dynamic and
fast-growing in the U.S., attracting a diverse cast of innovators
and spawning an entire industry for the manufacture of cannabidiol
(CBD)-based products. PotNetwork Holding, Inc.
(POTN) (POTN
Profile), through its Diamond CBD subsidiary, is one
of the leading companies involved in the research, development and
marketing of CBD-based products derived from hemp, while
Hemp, Inc. (HEMP) grows hemp and produces
hemp-based products for the industrial and medical cannabis
markets. Large-cap players include Terra Tech Corp.
(TRTC), which has a diverse portfolio within this market,
including medical cannabis cultivation and hydroponic produce
through its subsidiaries Blum, IVXX Inc., MedicFarm LLC, Edible
Gardens and GrowOp Technology; Amfil Technologies, Inc.
(AMFE), the developer of a green solution for the control
of pests and plant bacteria in the growth of medical marijuana; and
Surna, Inc. (SRNA), which develops technologies
for controlled environment agriculture (CEA), which includes legal
cannabis cultivation facilities in North America.
Accounting for up to 40 percent of the cannabis plant extracts,
CBD is a valuable component of the broader marijuana industry,
driven by its wide range of potential medicinal and therapeutic
benefits. According to Hemp Business Journal (http://nnw.fm/EvT2G), the market for CBD products
derived from hemp – a non-psychoactive variety of the cannabis
plant - is projected to grow at a compound annual growth rate
(CAGR) of around 53 percent to the year 2020. While it is illegal
to grow hemp at an industrial level in the United States,
importation of the plant is permitted.
This is where PotNetwork
Holding’s (POTN) Diamond CBD subsidiary is carving its
niche in the cannabis industry. Diamond CBD focuses its business
efforts on the research and development of CBD hemp extracts
sourced from its own hemp farms in Scandinavia, where its
non-genetically modified plants are organically grown and dried
before being shipped to the U.S. for processing. Diamond CBD has
developed technology that employs cold, supercritical CO2
extraction to ensure the highest quality of CBD oils for its
extensive range of products.
Legal in every state in the nation, Diamond CBD’s CBD-based
products include oils, vapes, edible products, pet food additive
and a range of creams. The company also manufactures Crystal Dabs,
a range of raw crystallized CBD powder that can be added to food
and other products. CBD oil has proven to be effective in the
treatment of anxiety, pain and as therapy for diseases like
Parkinson’s, Crohn’s and cancer.
As the company pursues its share of the market, PotNetwork is
assembling a team of industry pioneers to guide the company’s
endeavors to develop targeted formulas designed to deliver results
for a diverse spectrum of challenges that studies reveal CBD can
help.
On October 10, 2017, PotNetwork appointed to its advisory board
Dr. Michael McKenzie, recognized as an expert in the medical
cannabis industry and how cannabinoids can potentially be used in
the treatment of many illnesses (http://nnw.fm/Kmxh5). As an advisor, PotNetwork
believes his contribution will lead to the development of
innovative product formulas based on CBD.
Dr. McKenzie’s appointment was followed by news that Diamond CBD
achieved record revenues of $1.76 million for August 2017, an
increase of more than 20 percent over the previous month, according
to a company press release (http://nnw.fm/d7Itj). For these two months combined,
Diamond CBD achieved sales of over $3.2 million, which equates to
60 percent of revenues for the first six months of 2017. This
places the company on course for record-breaking quarterly
results.
PotNetwork continued to report progress for its Diamond CBD
subsidiary, and on October 24 reported the launch of Diamond CBD’s
new product line: honey packed straws infused with CBD, combining
the potential therapeutic attributes of both cannabis and honey
(http://nnw.fm/Ga7R9).
“We continue to be excited by our continued escalating revenues
month-after-month. We attribute these gains to increasing consumer
acceptance of our products, and the expansion of our distribution
network and product line. This summer underscores what we believe
is a sustainable sales momentum that should further springboard
sales in the 4th quarter strengthening an already record year,”
Maria Gomez, regional vice president of Sales for Diamond CBD,
stated in a press release. “When released, we are confident that
our official third quarter and year-to-date operating results will
reflect the continual strengthening of our organization and brand,
our growing market penetration, and the superior value of our
products.”
Based in Las Vegas, Hemp Inc.
(HEMP) is focused on products made from industrial
hemp, as well as the manufacture of medical cannabis and supplies
marijuana to the recreational industry. Hemp Inc. has the stated
intention of leading the hemp fiber industry in the U.S., which is
estimated to be worth over $500 million. Through its subsidiary,
Industrial Hemp Manufacturing Inc., the company owns the largest
industrial hemp processing mill in the western hemisphere, based in
Spring Hope, North Carolina. Hemp can be used to manufacture over
25,000 different products. CBD is extracted from its leaves and
flowers, its oil can be used to make health and beauty products and
the plant core can be used for building materials, as bio-fuel or
to clean up oil spills. Hemp Inc. is valued at $5 million.
With market capitalization of over $114 million, Terra
Tech Corp. (TRTC) operates several
subsidiaries involved in the growing and processing of medical
cannabis. Via one of its core brands, Blum™, the company produces a
range of medical cannabis products which include flowers,
concentrates, vapes and edibles. Another brand, IVXX, grows
cannabis for the recreational and medical markets, ensuring
rigorous testing to produce products of the highest quality.
Through these two subsidiaries, and using controlled environment
agriculture (CEA) techniques, Terra Tech is committed to growing
the highest quality cannabis and conducting research to develop
medical cannabis-based products for the treatment of various
ailments.
Further demonstrating the diversity of the cannabis industry is
Amfil Technologies (AMFE), which
through its GRO3 Systems subsidiary has developed ozone-based
sanitization technology specifically designed for the marijuana
growing industry. When it started out, GRO3 targeted medical
marijuana growers exclusively, but with the advent of marijuana use
legalization in several states, the company expanded its offering
to cannabis growers for the recreational market. Its sanitization
system eliminates pests, bacteria and molds from crops grown in a
controlled environment. This is a green solution that eliminates
the need for pesticides and chemicals, ensuring crops conform to
strict FDA food and drug safety standards. The company has
installed its systems for companies like Nestle, Pepsi, Sun Pacific
and Sysco Foods.
Surna (SRNA) is a team of multi-disciplinary
engineers that design, develop, manufacture and install CEA
systems. With proficiencies in mechanical engineering, agricultural
science and indoor farming, Surna uses its proprietary predictive
facility modeling techniques to develop cultivation control systems
for growers of cannabis, among other crops. These are complex
systems for indoor climate control, irrigation and air sanitation
for mold and mildew control. In August, 2017, Surna introduced a
new senior management team to increase revenue and execute its
growth plan. The company’s market cap on October 27, 2017 was just
over $21 million.
With evident commitment to new product research and development,
and a drive to deliver products of the highest quality, these
companies are positioned to take advantage of the healthy growth
forecast for the hemp and cannabis industries.
For more information on PotNetwork Holding
Inc., visit PotNetwork
Holding (POTN)
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