HempAmericana Inc (OTCMKTS:HMPQ) has been back on the radar for OTC traders over the past few weeks in a big way. HMPQ had been wallowing in the sub-penny ranks until catching fire in mid-January as traders caught onto the company’s ostensible pivot into the CBD oil space. The narrative suggests HMPQ is nearing the opening of a new extraction and production facility in Maine before the end of the quarter, which would conceivably line the company up for its first stint as a topline growth play.
But marketing is still an open issue. That’s why the company’s latest release caught our eye: management just announced that they are teaming up with High Times Magazine as well as its cannabis-centric social media universe. According to the release, “the Company believes this will powerfully expand its marketing penetration and communications footprint as it nears full-scale CBD oil extraction and production activities at its new high-capacity facility in Augusta, Maine.”
HempAmericana Inc (OTCMKTS:HMPQ) bills itself as a company that researches, develops and sells products made of industrial hemp. The Company also carries other non-hemp based products but intends to focus primarily on the potential for hemp.
At this time the HMPQ’s main product is its brand of hemp-based rolling papers known as “Rolling Thunders” that are to be used for the smoking of tobacco and other legal substances.
In essence, anything that can be made with plastic can be made with industrial hemp and HempAmericana plans to fill the growing need and demand for hemp based products within the United States. The company also intends to explore other possible business avenues relating to the legal use of the Cannabis plant.
According to company materials, “HempAmericana is currently in the rolling paper and CBD oil business using the brand name Weed Got Oil. Search Rolling Thunders hemp papers on YouTube for a product demonstration of the Company’s papers. The company owns an extraction machine and now plans to become a leader in the CBD oil market by establishing three laboratories for the extraction and research of the oils contained in the hemp plant. HempAmericana also researches, develops and sells products made of industrial hemp.”
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HempAmericana CEO, Salvador Rosillo, commented, “This is a perfect fit for us right now. Our Augusta facility is nearing the green-light moment when we start to push out product. We have lined up the raw hemp to fuel that process, and we have some strong progress in place as far as getting product to market. The only real wild card left on the table was communication with the end-market consumer. Teaming up with High Times is the best possible solution to that final challenge.”
Mr. Rosillo continued, “High Times has an unparalleled brand identity and reach. The magazine is going to be covering our story and the upcoming launch of major CBD Oil production activities at our Augusta facility just as we get ready to start shipping. This coverage has the potential to connect us perfectly with our target consumers and lay a strong foundation for explosive sales growth potential in the quarters ahead.”
This announcement follows prior announcements from HempAmericana updating key strides in negotiations with suppliers and distributors, as well as final construction activities at the Company’s new high-capacity CBD oil extraction and production facility in Maine. Capital equipment and raw materials deliveries are on schedule, and full-scale production activity is expected to begin as early as March.
We’ve witnessed nearly 120% piled on for shareholders of the company during the trailing month. This is emblematic of the stock. HMPQ has evidenced sudden upward volatility on many prior occasions. What’s more, the listing has seen interest climb, with an increase in recent trading volume of a bit over 360% above its longer-run average levels.
At this time, carrying a capital value in the market of $32.7M, HMPQ has virtually no cash on the books, which stands against about $500K in total current liabilities. The company is pre-revenue at this point. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $HMPQ stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $HMPQ, either long or short, and we have not been compensated for this article.