PotNetwork Holdings, Inc. (POTN) announced a 10-for-1 reverse stock split approved by its Board of Directors on October 27, 2020. This will be followed by a rights offering allowing shareholders to purchase shares at a price to be determined post-split. The rights offering aims to raise funds to enhance investable assets for product line expansion and potential acquisitions. Shareholders as of November 25, 2020, can purchase shares at a minimum of 10,000 shares each. Further details will be provided in an upcoming Information Statement.
PotNetwork Holdings (OTC PINK: POTN) has appointed Lee Lefkowitz as the new CEO and President, succeeding Kevin Hagen, who remains with the company for operational purposes. Lefkowitz brings over 5 years of experience in the CBD industry and plans to implement rapid changes to enhance corporate structure and product lines. The company aims to boost shareholder value through innovative marketing and material developments in upcoming releases.
PotNetwork Holdings, Inc. (OTC PINK: POTN) has announced its compliance with SEC filing requirements by submitting its Second Quarter 2020 Report and First Quarter 2020 Report. Despite COVID-19 disruptions, the company reported robust revenues of $5.3 million for the first half of 2020. CEO Kevin Hagen highlighted a recovery in sales momentum and an optimistic outlook for the year-end, due in part to enhanced product offerings.
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.