As we have noted in the past, the strategy for Hemp Inc (OTCMKTS:HEMP) appears to be a very long game in play. It is about changing the culture around the company to something that works for the company. To that end, the company just announced that The Hemp University will hold its 4th educational symposium entitled: The Hemp Oil Event (The Art & Science of CBD Oil) next month on the last day of September.
According to company materials, “The educational symposium, The Art & Science of CBD Oil, will bring attendees up to speed on all business and scientific aspects of Industrial Hemp CBD cannabinoids by disseminating current, reliable information that continues to shape the revolutionary CBD market. Attendees will also get a chance to go to Hemp, Inc.’s 70,000 square foot multipurpose industrial hemp decortication facility for the first live public demonstration of its Supercritical CO2 Extraction System using North Carolina-grown CBD industrial hemp. Representatives from NuAxon Bioscience will be on hand for those interested in purchasing their own CBD extraction system.”
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 long game is in play for HEMP. In all, recent action has seen 25% piled on for shareholders of the name during the trailing month. Moreover, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 52% over the long run average.
Bruce Perlowin, CEO of Hemp, Inc., said, “We are really excited about this particular educational symposium. This will be our 4th one. The first 3 were a tremendous success. We have been inundated with inquiries since we first launched ‘The Hemp University’ and each one has been a sold out event with fantastic reviews. This is a part of the ‘hemp educational infrastructure’ and one way we are contributing to making America great again is by making America hemp again and by teaching farmers and landowners how to create a profitable income stream by maximizing their per-acre crop revenue.”
At this time, carrying a capital value in the market of $28.7M, HEMP has a bankroll ($575K) of cash on the books, which stands against about $145K in 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 may be a very interesting story and we will look forward to updating it again soon. 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.