PCAOB Registered CPA Firm Engaged to Initiate Audit on PotNetwork Holding Inc.'s Recent Revenues
August 30 2017 - 8:00AM
InvestorsHub NewsWire
In Light of Significant Recent Financial
Achievements, Company Advances Reporting Practices for Heightened
Transparency
Ft.
Lauderdale, FL -- August 30, 2017 -- InvestorsHub NewsWire
-- PotNetwork Holding
Inc. (OTC
Pink: POTN)(the
“Company”) announced today that the Company has officially
retained the auditing services of East West Accounting Services,
LLC, a Public Company Accounting Oversight Board (PCAOB) registered
CPA firm, based in South Florida. The firm will provide a
methodical review and analysis to deliver a detailed audit report
of the Company’s recent revenues and provide credible
verification.
East West Accounting Services, LLC is a PCAOB
registered CPA firm, which provides audit, review, and consulting
services to smaller capitalized public companies that are required
to provide financial information to the Security and Exchange
Commission.
Management has long strategized the initiation
of a PCAOB audit, since transparency is key to the Company's
strategy for growth and expansion. Strategically, management
prepared for a level by which the time and money required to
proceed was warranted. A string of positive and profitable
corporate events are the catalyst for Diamond CBDs achievement of
this level, by which the Company has taken a proactive approach to
deepen accountability to the Company’s shareholders and the public
marketplace.
"We believe that the timing for this action is
now. In consideration of the amount of momentum built up over the
past 6 months, coupled with reported revenues of $5,077,625 for the
first 6 months of fiscal 2017, the only logical next step was to
initiate the auditing process, whereby the market can recognize the
significance and legitimacy of the Company’s recent growth,” stated
Gary Blum, Chief Executive Officer, PotNetwork Holding
Inc.
PotNetwork recently
announced that second quarter and year-to-date operating
results confirm PotNetwork Holding’s revenues maintain strong, with
performance continuing to exceed fiscal 2017
forecasts. With reported revenues of $5,077,625 for the
first 6 months of fiscal 2017, and a net profit of 369,237, the
Company concluded the first half of 2017 with a positive net cash
flow of $395,009. Based on earlier reported financial statements
with OTCMarkets, the Company continues
on track
to exceed its projections set forth for 2017.
As developments evolve, the Company will be
prompt with pertinent updates.
About East West Accounting Services,
LLC: The CPA
firm is located in Miami Florida and offers audit and assurance
services to all kinds of growing businesses and non-profit
organizations. When the firm conducts an internal business audit,
the goal is to deliver the highest level of assurance to investors
and creditors. From due diligence and risk management services, in
preparation for merger and strategic acquisition preparation, to
audit services for companies seeking to provide financial
transparency, all services are designed to reflect an honest and
accurate representation of the current financial condition of a
spectrum of businesses and organizations.
About Diamond
CBD Inc.: Diamond CBD focuses on the
research, development, and multi-national 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, 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 and E-Liquids found
anywhere. For more information, please visit its website
at www.DiamondCBD.com.
About
PotNetwork Holding
Inc: PotNetwork Holding Inc. (OTC
Pink: POTN) is a publicly traded company that acts as
a holding company for its subsidiaries, First Capital Venture Co.,
the owner of Diamond CBD, Inc., the maker of Diamond CBD
oils.
Safe
Harbor Act: 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.
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