LAS VEGAS, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Player’s Network, Inc. (OTCQB: PNTV), a rapidly growing company in the recreational and medical marijuana industry with licensed grow operations in 2 states, announced today they have achieved new record sales of approximately $2.52 million since the recent acquisition of Green Leaf Farms Salinas Valley.
The purpose of this announcement is to provide the Company's Shareholders and the investment community with regards to the substantial increase in sales with an informal unaudited update as it was delayed in filing its Quarterly Report Form 10-Q for the quarter ended June 30, 2018. Most of the sales are coming from the Company’s recent $5,000,000 acquisition of a 56,000 sq. ft. marijuana cultivation facility in Salinas Valley, California.
The Company has cited the reason for the delay in filing is a result of purchasing a private company, which prior to the acquisition, did not operate with the same level of financial controls and compliance procedures as public companies are required to do. PNTV had previously filed for an extension for its Quarterly Report Form 10-Q and is working diligently to file said 10-Q as soon as possible.
Online Webinars to Update Shareholders
Stay informed and up-to-date on the latest Company news and information via frequent online webinars hosted by CEO Mark Bradley and Director Brett H. Pojunis. Sign up to receive notifications on upcoming webinars at https://playersnetwork.com/webinars
Brett H. Pojunis, PNTV Director stated, “Our business philosophy to grow by acquisition, joint ventures, and new market opportunities is starting to gain substantial traction. We are constantly identifying new revenue streams and remain committed to building long-term shareholder value.”
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About Player’s Network (PNTV)
Player’s Network is a rapidly growing company in the marijuana industry with licensed grow operations in Las Vegas and California that trades on the OTC Market – stock symbol PNTV. Over the last 12 months, the Company has gone from a development stage company to generating over $1,000,000 a month in sales. Their business strategy is growth by acquisitions, joint ventures and new market opportunities.
Cannabis is legal for medical use in 30 States plus DC. It is legal for adult recreational use in 9 States plus DC. The entire country of Canada has legalized marijuana adult use starting on October 17, 2018. The Company believes this trend of legalizing marijuana will continue and create tremendous growth opportunities for their shareholders.
For more information please visit www.PlayersNetwork.com
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Information about Forward-Looking Statements
This press release contains "forward-looking statements" that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: reliance on unaudited statements, the Company's need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company's products, and other risks that are detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Players Network, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Player’s Network Contacts:
David Klepinger, Strategic Relationships Manager
Interview Requests & Media Inquiries:
Brett H. Pojunis, Director