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Does Hemp Inc (OTCMKTS:HEMP) Have a Hand on the Golden Goose Into the Farm Bill?

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Shares of Hemp Inc (OTCMKTS:HEMP) continue to benefit from enthusiasm surrounding the seemingly inevitable passage of a new Farm Bill that includes significant positives for the hemp industry. To make that story more concrete, the company just announced that, in anticipation of the Farm Bill, hemp legalization and cultivation could be a catalyst for explosive growth in a nascent industry that some forecast could top $20 billion by 2022.

According to the release, according to a recent CNBC article, industrial hemp production in the U.S. has been limited to “Mostly research and pilot programs although imports from Canada, China, and Europe have helped fill domestic demand for everything from hemp seeds to fibers. The legalization of hemp cultivation could boost investor interest across the sector.”

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, in anticipation of the Farm Bill, hemp legalization and cultivation could be a catalyst for explosive growth in a nascent industry that some forecast could top $20 billion by 2022. In all, traders will note 32% tacked on to share pricing for the name in the past month. In addition, the company has benefitted from a jump in recent trading volume to the tune of 48% above its longer-run average levels.

“We are eagerly awaiting the passage of the Farm Bill,” said Hemp, Inc. CEO Bruce Perlowin. “Our vast experience in the emerging marketplace, paired with our social and environmental efforts, put us at the forefront of this ever expanding industry. It is truly a historic time to be in the hemp business.”

Now commanding a market cap of $25.79M, HEMP has a reserve ($1.4M) of cash on the books, which compares with 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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