A stock that has actually made a new low in the hemp and cannabis space for the past 6 months – despite the massive run higher in the space in general into the Canadian announcement last month – is Hemp Inc (OTCMKTS:HEMP). As a path to healing this relative weakness, the company just announced the company has entered into an agreement with 2 Manifest Studio, LLC, a Wyoming, Limited Liability Company (VED), to create a documentary and subsequent docuseries over the course of an estimated five years.
According to the release, “Per the terms of the agreement, VED will create a feature length film and corresponding docuseries and other video materials about the history of hemp with a strong focus on Hemp, Inc. and other pioneers and companies that are leaders in the modern-day history of industrial hemp. The content will be wholly-owned by Hemp, Inc. 2 Manifest Studio Director Joseph Trivigno and his team have been tracking Hemp, Inc.’s progress, over the past six months, as executives meet with farmers throughout the country to document the company’s expansion into new markets. The documentary is expected to be released by 2020. The docuseries is expected to follow the film’s release. The film crew will also capture hemp developments in markets around the globe.”
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, HEMP just announced the company has entered into an agreement with 2 Manifest Studio, LLC, a Wyoming, Limited Liability Company (VED), to create a documentary and subsequent docuseries over the course of an estimated five years.
Traders will note -9% during the past week in terms of shareholder gains in the stock, but that move comes in the context of a larger bearish trend. In addition, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 22% beyond its prior sustained average level.
“We recognize that we are on the forefront of a new American agricultural and industrial revolution and want to honor this historic time for the hemp industry by capturing the expansion of our hemp cultivation, processing, and manufacturing infrastructure in America and beyond,” said Hemp, Inc. CEO Bruce Perlowin.
“We have been meeting farmers across the country who are eager to begin cultivating this valuable crop that has both industrial and health-promoting benefits. This is a story that needs to be told, and Hemp, Inc. is proud to be at the center of it.”
Earning a current market cap value of $18.1M, HEMP has a chunk ($661K) of cash on the books, which is balanced by about $145K in total current liabilities. HEMP is pulling in trailing 12-month revenues of $286K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 401.6%. 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.