Player’s Network Inc (OTCMKTS:PNTV) Makes A Strong Upward Move

When we last reviewed Player’s Network Inc (OTCMKTS:PNTV), the stock was trading at about $.026, consolidating near an upward trendline that had been forming since September of 2016. The stock has since made a sharp upward move to a high of $.0738 on May 3, 2017 on strong volume. The stock is currently trading at $.0655.

The beginning of the upward movement coincided with the company’s announcement of annual/quarterly financials for the period ending December 31, 2016. The financial reports show a sharp increase in revenues, and a substantial pay down of outstanding debt.The shareholder announcement included more good news, but before we go any further, a little background on the company for those not familiar with it. Player’s Network, Inc. (PNTV) is a fully reporting publicly traded diversified holding company that operates in two main areas; Media + Medical Marijuana. PNTV was initially established to develop a lifestyle channel around the gaming industry. As the company grew PNTV developed a multi-channel platform and significantly increased distribution. During the transition to a media, technology and entertainment company, PNTV produces and distributes programming on multiple cable and satellite “Video On Demand” (VOD) platforms.PNTV now owns 86% of Green Leaf Farms Holdings, LLC (Green Leaf) and 100% of WeedTV.com. Green Leaf is cannabis cultivation and production company which was granted a Medical Marijuana Establishments (MME) license in the City of North Las Vegas to build on 3.2 acres (up to 70,000 square feet) cultivation and production facility. WeedTV.com is an online resource for the marijuana lifestyle.On the Green Leaf Farms front, the company has hired Grow Contractors, a division of mCig Inc (OTCMKTS:MCIG), to develop and oversee the construction of Green Leaf’s cultivation and production facility. Phases 1 and 2 of the construction are near completion. Phase 1 includes roughly 6,000 square feet of common area, including offices, security, reception, storage, two cultivation rooms and a production lab, as well as vault, drying, trim, nutrient mixing and packaging rooms. Phase 2 of the build-out involves 7,000 square feet of 50% open grow flowering room and 50% several smaller vegetation rooms.After rigorous internal testing, the WeedTV.com platform officially launched on April 20. 2017, (4/20). The platform will serve as a valuable marketing platform for all GLFH products. The platform's business model is to enable any business in the medicinal marijuana industry to take its business digital via the creation of a personalized media network. Revenues will be generated through licensing of the software that creates and controls each personalized media network. The company has received an estimated $450,000 in product sponsorship from emerging companies in the cannabis sphere that have signed with Green Leaf Farms and WeedTV.com.The WeedTV.com launch was preceded by an Influencer Party hosted by the company at the stylish and renowned FLOAT Rooftop Bar inside Hard Rock Hotel San Diego on March 23, 2017. The party was held while the Social Media Marketing World 2017 (SMMW17) convention was taking place in San Diego, which the company’s management team attended. Party goers had the opportunity to mingle with top social media influencers, as well as a chance to become "Smokes Models" and brand ambassadors for WeedTV.com. Events like the Influencer Party are part of Player’s Network, Inc. broader strategy to maximize its social media presence, engage and attract investors, and create an influential position in the budding marijuana industry.Also, as part of a campaign to gain positive exposure for the company, on April 4, 2017, Chief Executive Officer of Player’s Network, Inc. Mark Bradley, and Director Brett H. Pojunis, delivered a presentation about the company to the America First Investment Financial luncheon series hosted by ClubsCorp Business Network (ClubsCorp) in Las Vegas, Nevada. In attendance were be investment bankers, institutional investors, and individual accredited investors.On May 2, 2017 Player’s Network, Inc. announced the acquisition of Marijuana Incubator and its further development to launch a new division called Marijuana Accelerator. The idea here is to "to identify and develop ventures in the marijuana industry," as part of the company’s overall strategy to gain market share by developing a national footprint in the legal medical marijuana industry.

"The marijuana industry is lacking much-needed accelerator and incubator-style mentoring organizations, and we are pleased to present our unique solution to meet this need," says Brett H. Pojunis, member of PNTV's Board of Directors. "There is a lot of excitement in this industry. It reminds me of the dot com era, as we get elevator pitches all the time!"

Current market capitalization stands at $35.99 million, on 549.40 million shares outstanding as of May 5, 2017. Player’s Network, Inc is executing its strategy according to its expansion plan, and revenues are beginning to flow into the company. At $.0655 the stock is still a bargain with very little downside risk in our opinion. We will be updating our subscribers as soon as we know more. For the latest updates on PNTV, sign up below!Disclosure: We have no position in any of the securities mentioned and have not been compensated for this article.