SOURCE: Agritek Holdings, Inc.

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February 09, 2016 08:30 ET

Agritek Holdings Inc. Announces 8k Filing and Retains Services of CPA Audit Firm to Complete Fully Reporting Status

LOS ANGELES, CA--(Marketwired - February 09, 2016) - Agritek Holdings, Inc. (OTC PINK: AGTK) (http://www.Agritekholdings.com), a leader in Compassionate Care Technology and agricultural solutions for the recreational cannabis industry, today announced that the Company has filed an 8K announcing its new auditing firm L&L CPAS, PA ("L&L") in order to return to fully compliant reporting status.

The Company and its new management team have been working diligently for weeks to organize all of the corporate and financial information after former management allowed the Company to lose its reporting status to once again become in compliance with SEC requirements.

"I strongly feel we now have a great team in place to ensure that the financial integrity and accountability that is so important today is in place for both our shareholders and new investors. Fully reporting SEC status will once again permit Agritek Holdings to obtain a listing on NASDAQ's OTCQX, and broaden our exposure and legitimacy to the investment community. 

As our recently announced events including our flavored CBD capsules Cannabol Rx, beverage line and new consulting contracts in Oregon continue to move forward, we plan to update our shareholders accordingly", stated B. Michael Friedman, CEO of Agritek Holdings Inc. Although there is no real way to quantify the added value of moving to fully reporting status, the improved terms for future funding, the ability for new investors to purchase our common shares as a fully reporting company will be significant, which will greatly help us achieve our immediate business objectives for realization of meaningful revenue", further added Friedman.

The Company recently announced it has executed its first manufacturing purchase order for patented flavored capsules for the production and distribution of its' new proprietary formulated capsules under the brands Cannabol Rx and Advanced Hemp Caps.

Cannabol Rx will be the first flavored capsule containing CBD with a proprietary formulation sold through licensed distributors in regulated jurisdictions. The Capsules for the first time will be offered in three flavors; coffee for its' "awake" formula, berry flavor for its' "focus" formulation and mint for its' sleep formulation. The initial release will be the mint flavor for sleep and relaxation containing 10 ml of CBD and additional natural, organic sleep aids.

Advanced Hemp Caps will be one of the first flavored capsules contacting pure Hemp Oil, able to be sold nationally offering the many benefits of Hemp Seed Oil extract. Hemp Oil products are already sold legally and contain zero THC similar to hemp protein, ice cream, beauty products and oil tinctures now offered in big brand chains including Whole Foods, GNC and national health food chains. Formulations are being approved by Agritek's advisory board member Dr. Stephen Holt, world reknowned physician, scientist and Best-Selling Author including his new book "The Cannabis Revolution."

About Agritek Holdings, Inc.
Agritek Holdings, Inc. (www.Agritekholdings.com), a pioneer within the medicinal marijuana space, provides innovative patient and agricultural solutions and seeks to be the leader in Compassionate Care Technology for the medicinal marijuana industry. Agritek Holdings provides real estate management and health and wellness product lines including through its wholly owned subsidiary Agritek Venture Holdings Inc. Agritek 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.

FORWARD-LOOKING DISCLAIMER:
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.

Contact Information

  • Contact:
    Agritek Holdings, Inc. 
    310.205.2560
    305.721.2727