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What to Do with the Pullback in Hemp Inc (OTCMKTS:HEMP)?

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Following the subsidence of momentum in Hemp Inc (OTCMKTS:HEMP), we have seen a pullback that implies a question about the overall direction of trend in the stock. One cannot argue that the broader picture for hemp in the US and indeed the world has never looked brighter, and the idea here is about gauging how that will directly or indirectly translate into performance for HEMP on a financial basis. To help inform that point, the company just announced that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), has entered into an exclusive distribution agreement with Quadco, LLC for IHM’s proprietary natural products for the oil and gas well drilling industries in the state of Alaska.

According to the release, “In Alaska, the oil industry accounts for about one-half of the overall economy when the spending of state revenues from oil production is considered, according to the UAA Institute of Social and Economic Research. With full-service districts in both Anchorage and Prudhoe Bay, Quadco is well equipped to provide a multitude of drilling, completion and intervention products and services to all of the onshore and offshore fields in Alaska.”

Hemp Inc (OTCMKTS:HEMP) was founded in 2008. The company has a reputation as one of the more controversial enterprises, even by the standards of either the OTC or the cannabis patch, which certainly paints a picture.

In any case, the company is making strong strides toward reshaping its image as a legitimate emerging leadership play in the industrial hemp space.

Hemp Inc understands its mission to be a provider of “green solutions that help make the world a better place to live. We support products that are eco-friendly, organic, healthy and solutions that replace many petroleum-based products.”

“Hemp Inc.’s wholly owned subsidiary Industrial Hemp Manufacturing, LLC purchased the largest decortication plant in North America, which is located in Spring Hope, North Carolina. The plant is housed in a 70,000,000 square foot warehouse on 9 acres. The company will start producing fiber, loss circulation materials (LCM) and absorbents from kenaf and later from hemp.”

That narrative continues forward to include the concept that “Hemp, Inc. will produce a product for drilling rigs called “lost circulation material” (LCM), which is used for maintaining the seals when drilling for water, oil, gas, and any other liquid or gas. This product alone is capable of producing millions of dollars in revenue since some of the largest oil companies in the world will be our primary customers.”

“Eventually, the company will produce fiber materials for the paper and fabric industries, and other industries that utilize materials from hemp to make products such as plastics, building materials, health, and beauty related products and more.” In other words, the concept of “diversified applications for hemp as an industrial material” is the paramount idea.

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As noted above, the stock has been pulling back a bit of late, but it has also demonstrated a jump in recent trading volume to the tune of 24% above its longer-run average levels.

“We are proud to distribute our DrillWall™ product exclusively through Quadco in Alaska,” said David Schmitt, COO of Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC. “Quadco has an impeccable reputation as the leading distributor of products for the oil and gas industries. We look forward to working with them to provide an environmentally-friendly solution for seepage and loss circulation control in Alaska.”

Now commanding a market cap of $20.4M, HEMP has a reserve ($575K) of cash on the books, which compares with virtually no total current liabilities. HEMP is pulling in trailing 12-month revenues of $199K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 251.5%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $HEMP 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 $HEMP, either long or short, and we have not been compensated for this article.

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