TOTALLY HEMP CRAZY (OTCMKTS:THCZ) reported that Epic Group 1, one of the distributor firms of Rocky Mountain High Beverage line has entered into a joint venture with POTNETWORK HOLDINGS INC (OTCMKTS:POTN). After assessment of the companies’ balancing strengths, a strategic association was developed. This deal is expected to support both firms as they implement cross-promotion strategy. It will help to generate corporate awareness from untouched audience.
The mutually favorable joint venture enables PotNetwork to distribute Totally Hemp’s Rocky Mountain High goods. It indicates that the company now has a revenue stream, which will further create value for shareholders. The cooperative marketing measures of services and products will offer shareholders with an opportunity to cash on a venture at its inception.
Richard Volpe, the CEO of PotNetwork, said that they believe the new venture will have a exciting impact on company. Totally Hemp’s Rocky Mountain High features premium quality product line, and the management is delighted to expand the reach with these signature products.
The management view
Mr. Volpe further added that are in talks with other firms to include more marijuana and hemp themed products to the expanding merchandizing line. While they are primarily a provider firm of entertaining videos and breaking industry news, the new venture with Totally Hemp’s distributor firm is the first step towards achievement of numerous deals with vendors of best-selling products in the Marijuana segment. Every increase in revenues is a step towards progress both in terms of financial growth and additional exposure.
PotNetwork recently announced that its wholly owned subsidiary unit, Sunrise Auto Mall Inc., has disclosed its unaudited quarterly sales report for 2Q2015. The unit generated gross sales of over $1.9 million in the quarter.
More than the loss of 4.85% TOTALLY HEMP CRAZY (OTCMKTS:THCZ) incurred yesterday, more interesting was the recovery of the stock from the day low of $0.0861 to the final closing price of $0.0980, a bounce of almost 14%. With the volume for the day at 2.6 million comfortably less than the daily average of 4 million, the possibility of the end of the short term correction can’t be ruled out that easily. The biggest reason for any bullish hope comes from the retesting of the major support band around $0.06 last week, capable of pushing the price up towards $0.14-$0.16.