LOS ANGELES, CA - (NewMediaWire) - May 16, 2017 - Agritek Holdings, Inc. (OTCQB: AGTK), www.AgritekHoldings.com a fully integrated, active cannabis real estate investor and branding consultant in the legal cannabis sector today announced that the Company has timely filed its 10 Q report for the period ending March 31, 2017 in accordance and compliance with its recent upgraded listing on the OTCQB.
First Quarter 2016 Highlights and Subsequent Events
- As of March 31, 2016, the Company had $241,120.00 of cash and cash equivalents, Total assets of $497,832.00 and reduced total liabilities from the prior year by almost $375,000 to $2,415,832 on its balance sheet.
- The Company was approved received an upgraded listing to the OTCQB
Additionally, the Company launched its new, interactive and investor intensive corporate website located at www.AgritekHoldings.com. The new corporate website lists a comprehensive overview of the company's existing real estate holdings, projects and wholly owned brands now being released in legal jurisdictions. The new site also has a downloadable executive overview and power point for new investors and shareholders giving great insight into the company's real estate holdings, products and business strategy for 2017 within the cannabis sector.
B. Michael Friedman, CEO of Agritek Holdings, Inc., stated "We will continue to provide the highest quality and level of financial reporting and disclosure through our filings to our existing shareholders and new investors through our upgraded listing on the OTCQB. Our unprecedented growth shown through the acquisition of new real estate holdings, contracts and licensing agreements of new Agritek brands will in my opinion soon bear fruit within the marketplace through both increased revenue streams and help to increase shareholder value as we execute on our overall business strategy over the next several months."
About Agritek Holdings, Inc.
Agritek Holdings, Inc., (www.AgritekHoldings.com) a pioneer within the medicinal marijuana space, provides innovative technology, brands and agricultural solutions for both the medicinal and recreational cannabis industry. Agritek Holdings, Inc. presently owns or manages property in Colorado, Puerto Rico and Canada and has licenses with permitted facilities in California approved for cultivation as well as manufacturing capabilities. The company owns several Hemp and cannabis brands for distribution including MD Vapes, MicroDose Strips, "Hemp Pops" and "California Premiums". Agritek Holdings, Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act, nor does it intend to do so in the future.
Cautionary Statement on Forward-Looking Information
All statements other than statements of historical fact contained in this press release constitute "forward-looking information" or "forward-looking statements" within the meaning of the U.S. federal securities laws and are based on the expectations, estimates and projections of management as of the date of this press release unless otherwise stated. All statements other than historical facts are, or may be, deemed to be forward looking statements. The words "plans," "expects," "is expected," "scheduled," "estimates," or "believes," or similar words or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. All of these assumptions have been derived from information currently available to the Company including information obtained by the Company from third-party sources. These assumptions may prove to be incorrect in whole or in part. All of the forward-looking statements made in this press release are qualified by the above cautionary statements and those made in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission, available on www.sec.gov, and the Company's corporate website at www.AgritekHoldings.com .The forward-looking information set forth in this press release is subject to various assumptions, risks, uncertainties and other factors that are difficult to predict and which could cause actual results to differ materially from those expressed or implied in the forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Agritek Holdings, Inc. to be materially different from the statements made herein.