LAS VEGAS, Sept. 18, 2017 /Weed Wire/ — Player’s Network, Inc. (OTCQB: PNTV), a diversified holding company operating in media and marijuana, announced today a shareholder update letter from CEO Mark Bradley.
I hope everyone has had an amazing summer and was able to enjoy many quality experiences with their family and friends. It is hard to believe that it is already mid-September! The year has been flying by, and although we’ve accomplished so much already, we still have many rewarding objectives in our sights.
This update recaps our major milestones in both our media and marijuana business and challenges since the beginning of the year.
Third Quarter Highlights
*PNTV continues to achieve all milestones
*4 Day Live Broadcast to launch WeedTV.com
*Green Leaf Farms begins generating revenues
*PNTV and its holdings expands senior management and key personnel
*Entered into a funding agreement with Kodiak Capital
*Marijuana Accelerator launches the MJ Accelerator Program and identifies first deals
*Players Network eliminates the majority of convertible notes and debt
*Green Leaf Farms secures 2 medical and 2 recreational marijuana licenses
*Green Leaf completes first phase of Marijuana cultivation and production
*Further developed extensive in house Investor Relations department
*Comcast lawsuit update
We define Player’s Network, Inc. as a “diversified company operating in both media and marijuana,” however, besides our basic existing WeedTV website (and our Facebook LIVE videos), you have not seen us operating at full speed in media. Our focus was and will remain Green Leaf Farms Holdings, our marijuana division. In order to secure our licenses, we had to adhere to strict, State mandated timelines. The full update on Green Leaf Farms is listed below. In addition, we have been working diligently on developing an amazing platform for WeedTV.com which is a major undertaking in itself. While securing our marijuana license(s) we never stopped working on the WeedTV platform.
The main goal of this shareholder update is to demonstrate we established aggressive milestones and have repeatedly meet and/or exceeded all of them! The only exceptions have been State mandated timelines and local government restrictions.
If you are happy with our progress I encourage you to help the company by introducing anyone you think would be interested in becoming a shareholder and making sure that you are signed up for our Investor Alerts.
Please connect with Player’s Network on Social Media:
Instagram: https://www.instagram.com/playersnetworkinc – Brand new, help us grow!
Last week we announced the network premiere via a major LIVE 4 Day Broadcast which takes place later this week. We will be premiering the first version of the new WeedTV platform on September 22nd with a live production which will be showcasing some of our programming and a live video stream coming from Las Vegas. This milestone will first showcase the platform’s new look and strategy that will be focused on content and original television programming. These efforts are being led by Michael Berk, Board Member and veteran television producer who created such series as Baywatch, and Andy Orgel, two industry veterans with experience launching major networks to the likes of MTV, A & E, Nickelodeon and The Movie Channel to name a few.
Within the next 2 quarters, we intend on launching Phase 2 of the WeedTV platform. This release is being developed on a highly scalable platform which will host thousands of channels. We are taking a unique and clever approach to marketing companies in the marijuana space. There are a few consumer platforms with directories of dispensaries, but there are other markets which are severely underserved. We will be the only platform focusing on these ancillary marijuana companies such as manufactures, suppliers, cultivation and production companies, smoke shops and other marijuana related businesses. In essence, we are establishing the first b2b marketplace for marijuana companies seeking to do business with other marijuana companies beyond dispensaries. We feel our focus on this market will generate substantial revenues. To date, we have generated some revenues mostly realized through traditional advertising and sponsorships.
Please connect with WeedTV on social media:
Green Leaf Farms Holdings
Green Leaf Farms has experienced significant growth since our last update. We recently released “A Glimpse Into Green Leaf”, a video that looks behind the scenes of the workings of Green Leaf Farms and a tour by myself (Mark Bradley) and Director Brett H. Pojunis.
Green Leaf Farms was awarded its medical and recreational marijuana license(s) in the beginning of June, these were substantial milestones. We began to generate revenues right away to preserve our licenses through the sales of concentrated rosins. Currently, these revenues are small, approximately $30,000 to $50,000 a month. We started growing marijuana shortly after we were awarded our licenses from the State. Our first harvest will take approximately 3.5 months to complete to grow. In the meantime, we have been using our Production license and creating rosin.
We create rosin by using a solventless heat and pressure extraction process and press marijuana flower (buds) and raw plant material. The result is our rosin, which is a highly concentrated marijuana product high in THC and CBD which we call “liquid gold!” We are only selling to a select group of approximately 7 dispensaries where we receive the best returns on each sale while also building strong relationships. When the Green Leaf Farms facility is fully operational, there will be a perpetual growing cycle with revenues exceeding $1,150,00 each month.
We have an amazing team led by our Director of Operations, Jason Ching who brings a wealth of experience to Green Leaf Farms on both the Cultivation and the Production processes. In addition to Jason, we have a strong Master Grower, Corey Crosser. Like Jason, Corey is also highly experienced in marijuana extraction processes.
Due to Jason Ching’s experience and research abilities, Green Leaf Farms has been invited to collaborate in development with EZ-CLONE. EZ-CLONE recently released a prototype of a new cloning device which is being field tested and researched by top universities and Green Leaf Farms. EZ-CLONE’S new device is a large scale production hydroponic cloning device. Currently, there are only 30 units in existence, and Green Leaf in honored to have one.
In regards to our Cultivation (growing marijuana) operations, we are cultivating mother plants and clones and waiting to move into Phase 2 portion of our facility. Phase 2 adds approximately 8,000 additional sq.ft of cultivation space, which we will use for vegetation and flowering. We estimate Green Leaf Farms will complete construction on Phase 3 next summer.
Earlier this year we announced that the company acquired a platform created by board member Brett H. Pojunis call Marijuana accelerator. This was 100% Brett H. Pojunis’s vision to develop a new business accelerator/incubator for the marijuana industry, specifically focused on media and technology. Brett has been assembling a great team and brought on Jeff Robinson as its Managing Director. Jeff is a venture capitalist, Mentor, Advisor and consultant to startups, a teacher to MBA and Executive MBA program students and the founder of Global Internet Startups, an organization with over 150,000 members and 4,000 startups! Together, Brett and Jeff launched its flagship program, the MJ Accelerator Program.
Over the next few weeks Marijuana Accelerator will be announcing their first ventures, they are really impressive and major disrupters in the marijuana space so stay tuned!
Please connect with Marijuana Accelerator on social media:
Capital Needs & Growth
PNTV’s overhead has continued to increase substantially as we expand our team. We now have over 25 full time and 9 part-time workers, and multiple independent contractors/consultants between PNTV corporate, WeedTV, Marijuana Accelerator and Green Leaf Farms. In addition to our team, we continue to increase operational expenses, technology development costs, services and further construction to expand our facilities. Most of our recent funding has originated from our existing shareholders. Our shareholders have become investors by doing a direct investment (purchasing shares directly from the company) in addition to purchasing shares in the open market.
In order to continue to grow at the fast pace we have, we require a significant influx of capital. Our goal continues to be a dominant player in the marijuana space and build a major marijuana empire. In order to execute on our business plan, we have sought substantial investment dollars.
Due to our need for capital, we recently signed an agreement with Kodiak Capital Group (Kodiak). We have agreed to sell Kodiak 37,500,000 shares as disclosed in an 8k last month. The terms of the sale include registering the shares with the Securities and Exchange Commission (SEC) through a S-1 registration statement. Once the registration statement goes into effect, PNTV has the ability to start selling shares to Kodiak. The selling price will range from a floor of $0.18 per share to as high as $0.50 per share, based on a 20% discount to the current market price at the time PNTV executes a sale. This investment will generate between $6,750,000 to $18,750,000 in an investment into PNTV. Our objective is to continue to build shareholder value and ultimately execute investment capital at the ceiling of $0.50 per share. This funding structure enables us to sell a portion of the shares registered in the S-1 or the full amount, at PNTV’s discretion over an 18 month period.
This year has been a game of addition as we have added extremely impressive management to our team! We have a very unique Board of Directors who are all extremely engaged and active with PNTV and our holdings. The Board is comprised of Brett H.Pojunis, Michael Berk and myself. We have been privileged to add Geoffrey Lawrence to our team as Chief Financial Officer and Chief Compliance Officer. Geoffrey’s most recent position was as the senior appointed position in the Nevada State Controller’s Office (Controller) as Assistant State Controller for the State of Nevada. As Assistant State Controller, Geoffrey oversaw external financial reporting on behalf of the State. The Controller’s office acts as the Chief Fiscal Officer of the state and is responsible for administering the state’s accounting system, settling all claims against the state and collecting debts owed to the state. Andy Orgel co-founder of MTV, Nickelodeon, A & E and The Movie Channel and many other network is heading up the launch of WeedTV. This core team is amazing and you don’t typically this caliber of talent in a smaller public company like PNTV. Over the next few years as we expand, we will continue to add executives of this caliber to the ranks of PNTV and our holdings.
Comcast Lawsuit Update
We originally had a tentative trial date set for October however, we have been delayed by another trial. However, the courts have asked the parties to meet next month to discuss a settlement. During our first settlement meeting we were unable to come to a resolution, therefore, I feel this time around will have similar results. In the event we are unsuccessful in settling this outside of the court, we gladly welcome a jury trial. We believe we have sustained real damages and welcome putting our faith in the hands of a jury.
Again, I want to thank our shareholders for their continuing support, we couldn’t do this without you. We are looking forward to completing the full construction for Green Leaf Farms and launching WeedTV with original programming. Please everyone tune into our live streaming launch of WeedTV, it will be packed with great content, celebrities, musicians, MMJ experts, enthusiasts and the casting for Miss Weed TV 2018.
As always tell your friend about what we are doing and sign up for our investor alerts at https://ir.playersnetwork.com/investor-alerts.
CEO Players Network
About Player’s Network (PNTV)
Player’s Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 89% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within our media operations.
For more information please visit www.PlayersNetwork.com
Please visit our Investor Relations site https://ir.playersnetwork.com
Sign up for PNTV investor alerts: https://ir.playersnetwork.com/investor-alerts
About Green Leaf Farms Holding, LLC
Green Leaf Holdings, LLC (Green Leaf Farms) produces medical and recreational cannabis products. Green Leaf is located in North Las Vegas, Nevada on 2.3 acres in a state-of-the-art 27,000 sq. ft. facility. They have a seasoned team of professional growers and operators to manage the facility with proven best practices to ensure they have the highest quality products available.
WeedTV.com is a niche social network and lifestyle channel destination for the marijuana industry. WeedTV.com is launching the “go-to” source for information, entertainment, products and services for people who relate to the marijuana lifestyle and an active social community.
Please visit www.WeedTV.com to join our community.
About Marijuana Accelerator
Marijuana Accelerator is an ecosystem for the marijuana industry designed to connect entrepreneurs and investors to our network and develop partnerships. Marijuana Accelerator’s mission is to “identify and develop ventures in the marijuana industry.” Marijuana Accelerator is used to identify ventures focused on seed to sale solutions and new technology.
For more information please visit www.MarijuanaAccelerator.com
For MJ Accelerator Program visit https://marijuanaaccelerator.com/mj-accelerator-program
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
Player’s Network Contacts:
Brett H. Pojunis
U.S. Media Inquiries:
European Media Inquiries: