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Is it Finally Time to Shine for Hemp Inc (OTCMKTS:HEMP)?

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One stock that just leaped higher to close out last week is Hemp Inc (OTCMKTS:HEMP). The stock is a pure play on the Farm Bill, which is working its way through Congress and promises to have critical implications for the hemp industry. To highlight this, the company just announced that a tentative agreement has been reached by the Senate Agriculture Committee on the 2018 Farm Bill, meaning the U.S. could federally legalize hemp growing, production and distribution by as early as next week.

According to the release, “Despite a months-long stalemate on aspects of the Farm Bill, important legislators have stated that they have come to tentative agreement on the outstanding issues of the bill, which means the bill is expected to pass well before the end of 2018. When passed, the bill will allow states to regulate hemp, as well as allow hemp researchers to apply for grants from the Agriculture Department and make hemp farmers eligible for crop insurance.”

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 that a tentative agreement has been reached by the Senate Agriculture Committee on the 2018 Farm Bill, meaning the U.S. could federally legalize hemp growing, production and distribution by as early as next week. In all, recent action has seen 39% piled on for shareholders of the stock during the trailing week.

In addition, the listing has seen interest climb, with an increase in recent trading volume of 110% beyond its prior sustained average level.

“This is an exciting update regarding the expected passage of the 2018 Farm Bill, which would include provisions to legalize industrial hemp,” said Hemp, Inc. CEO Bruce Perlowin. “McConnell has confirmed that the provision legalizing hemp as an agricultural commodity will be included in the final version of the bill, which will allow hemp farmers across the country to commence their trade. As these legal avenues create new opportunities to join the hemp movement, Hemp, Inc. continues to further expand its footprint by entering new markets and working with farmers across the nation.”

Earning a current market cap value of $24.88M, HEMP has a stash ($1.4M) of cash on the books, which stands against about $1M in total current liabilities. One should also note that debt has been growing over recent quarters. HEMP is pulling in trailing 12-month revenues of $400K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 248.3%. 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.

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