In Accordance With the Company’s Strategy to Fortify Its Stock Structure, a Repurchase Has Been Completed, Certificates Returned to Treasury, and Retired
FT. LAUDERDALE, FL–(Marketwired – Jul 23, 2015) – United Treatment Centers, Inc. (OTC PINK: UTRM) is pleased to announce that the Company has concluded negotiations and repurchased 430 Million shares of the Company’s common stock, in a private transaction that will further substantially reduce outstanding shares held by former shareholders.
In conjunction with PotNetwork Holdings Inc.’s recent rebranding initiative, this is the next step toward the Company’s plan to clean up the stock structure. “Theoretically, the reduction of outstanding shares in the marketplace should increase the value of the remaining stock, based on the basic law of supply and demand. If earnings remain unchanged, the Company’s Earnings per Share should be positively affected, and that is a powerful motivator for us,” stated: Steve Buckner, Chief Executive Officer of PotNetwork Holding Incorporated.
The convertible note holder has surrendered the certificates, and the 430 million shares have now been retired.
Richard Volpe, Chief Executive Officer of PotNetwork Inc., stated: “While we are passionate about the impact we intend to make in the marijuana industry through technology, we are keenly aware that the true value of a company in the financial market, is the profit margins it will create for its shareholders over the span of its existence. We believe that this effort to tighten up the stock structure is going to translate into growing shareholder confidence as it reflects our deep desire for fundamental growth.”
The company recently announced that it had officially changed its name to PotNetwork Holdings Incorporated. In conjunction with the corporate name change, the company’s common stock will continue trading under the newly appointed ticker symbol “POTN”, effective July 24, 2015. This rebranding initiative is the Company’s latest achievement in its determination to cleanse the Company of its former condition; an entity lacking in revenues, beset with a stigma of unaccountability, and lack of performance. In contrast, as also recently announced, PotNetwork Holdings Inc.’s wholly owned subsidiary, Sunrise Auto Mall, has reported its unaudited quarterly sales performance figures for the second quarter of 2015. Revenues reveal that the dealership has generated record gross sales of $1,902,549.00, indicating that the Company has developed a robust and continuously thriving business model.
PotNetwork Holdings Inc.: Potnetwork Holdings Incorporated is a publically traded Company with two wholly owned subsidiaries, PotNetwork Inc. and Sunrise Auto Mall Inc. PotNetwork Inc. is positioned to be the premier worldwide news and content provider for the Cannabis industry, and is developing into a 24/7 network. The network plans to achieve global reach by utilizing streaming video broadcasting technologies. Sunrise Auto Mall, Inc. is a first-rate pre-owned auto dealership, launched in June of 2014, as an operation geared toward enabling people challenged with bad or no credit in securing quality transportation while simultaneously rebuilding the client’s credit. The company has developed a highly profitable business model around the continually rising subprime lending industry.
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