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FT LAUDERDALE, FL--(Marketwired - Mar 30, 2016) - In the news release "PotNetwork Holdings Inc. Appoints Charles Vaccaro as President of Wholly Owned Subsidiary, Sunrise Auto Mall, Inc." issued yesterday by PotNetwork Inc. (
PotNetwork Holdings Inc. Appoints Charles Vaccaro as President of Wholly Owned Subsidiary, Sunrise Auto Mall, Inc.
FT LAUDERDALE, FL -- March 30, 2016 -- PotNetwork Holdings Inc. (
Mr. Vaccaro brings to Sunrise Auto Mall, Inc. a fresh proactive approach that is expected to propel the Company's strategy for nationwide growth, and increase shareholder value. According to plan, over the past year and a half, Sunrise Auto Mall, Inc. has cemented its presence in South Florida with a business model that was designed to establish a tangible and productive, brick and mortar revenue generating business, in a thriving industry, through the featuring of a vast selection of quality pre-owned vehicles, specifically geared toward the sub-prime auto market.
As the Company prepares to move forward with enhanced focus, a spectrum of lucrative new opportunities have come into view. Under Mr. Vaccaro's direction, the Company has entered into negotiations with additional funding sources to increase inventory and raise additional capital to expand and develop additional locations.
"We are very excited about the opportunities before us. Our focus is the long-term growth and profitability of our revenue generating business model. The dealership has become a real presence in the community, and we will continue to refine this model as we prepare to expand our business to multiple locations. Since my appointment as President, I have been fine tuning all aspects of the business model from the cars that we purchase, to the banks that we finance through, including a host of internal procedures and controls. I'm also in the process of creating a marketing plan that will enhance brand recognition, positioning us for the successful launch of multiple locations," stated Charles Vaccaro, President, Sunrise Auto Mall, Inc.
In regards to the recent announcement of the sale of PotNetwork, Inc. to Online Media Group Inc., the Company would like to clarify that this was an asset based transaction, and not a sale of the actual Corporation itself. This transaction was structured so that PotNetwork Holdings Inc. continues to retain an interest in Online Media Group, Inc. As a result, PotNetwork Holdings Inc. will apply with FINRA for a name and symbol change, reflecting this shift in corporate direction, sharpening its focus on the growth of the Company's duplicable core revenue producing business.
About PotNetwork Holdings Inc.: PotNetwork Holdings Inc. is a publicly traded company with one wholly owned subsidiary, Sunrise Auto Mall Inc. 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.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
PotNetwork Holdings Inc.