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Agritek Holdings Inc. Announces Timely Filing of Quarterly Report, Now Focused On Revenue, Acquisitions, and International Growth For Profitability in 2018
Agritek Holdings Inc. Announces Timely Filing of Quarterly Report, Now Focused On Revenue, Acquisitions, and International Growth For Profitability in 2018.
About this update from Agritek Hldgs Inc
[{"type":"text","content":"\nLOS ANGELES, CA, May 16, 2018 (GLOBE NEWSWIRE) -- Agritek Holdings, Inc. (OTCQB: AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the cannabis sector and consultant for multiple cannabis brands, today announced that the Company has timely filed its 10Q for the Quarter Ended March 31, 2018. The Company has considerably reduced liabilities, substantially retired and consolidated old convertible debt repayments and increased equity infusions before quarter end. \n  “This 10Q is yet another stepping stone towards our goal to become free of toxic debt and allows us to move forward with our newly developed revenue streams. With Agritek Holdings’ multiple equity investments in Colorado, Puerto Rico, Washington State and California, we can now turn our attention to the numerous revenue-generating projects the Company has initiated from the funding phase to now entering the post licensing and production phases,” stated B. Michael Friedman, CEO of Agritek Holdings Inc. With the Company’s new industrial Hemp farm in Colorado expected to move into production next month, we will also continue to sell our CBD product lines through both new distribution channels, including retail and e-commerce sites. Presently the Company has moved into raw isolate sales, including the sale of our CBD edibles and alternative delivery products. Expectations for the cannabidiol (CBD) market continue to look bright as estimates are projecting the market to grow by 700% by 2020, according to Forbes . A new report by cannabis/legal marijuana market analysts firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year's cannabidiol (CBD) market of $202 million. As the market continues to swell, it is expected the space will reach the billion-dollar status as product diversification and global demand drive revenue levels. One of the major drivers for the CBD market is the growing list of Health benefits of CBD oil. CBD oil products have several benefits and are believed to cure various ailments in the human body. Over the past few years, the demand for CBD oil has increased in different parts of the world because of the growing awareness about the health benefits alon...