The signing of the 2018 Farm Bill 6 months ago instantly made Hemp Inc (OTCMKTS:HEMP) a far more relevant name among speculative plays on the OTC. The company is arguably one of the biggest beneficiaries of this course correction in the legislation of the hemp plant. The bull picture here is theoretically defined by a series of legislative follow-on steps by individual states, the latest of which came from the state Georgia, when its Governor, Brian Kemp, recently signed a bill to allow hemp farming in the peach state.
“Governor Kemp signing this bill is a monumental step forward for Georgia – a state known for having land and many skilled farmers who are excited to start cultivating hemp,” said Hemp, Inc. CEO Bruce Perlowin. “The signing of this bill in Georgia also provides Hemp, Inc. the opportunity to begin the search for partnerships across the state and continuously add to our already robust list of ventures across the country.”
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 Georgia’s Governor Brian Kemp has signed a bill to allow hemp farming.
Traders will note roughly flat action for shareholders of the listing during the trailing month. In addition, the stock has seen interest climb during that stretch, with an increase in recent trading volume of 12% beyond its prior sustained average level.
Perlowin continued, “This bill will open up opportunities for many farmers across the rural areas of Georgia by helping diversify the agricultural economy and providing a lucrative crop that has thousands of different uses. I have seen many farmers shift their crops from vegetables, tobacco and fruit to start growing hemp because the crop brings new life into their rotation.”
Earning a current market cap value of $79.55M, HEMP has a bankroll ($482K) of cash on the books, which stands against about $456K in total current liabilities. HEMP is pulling in trailing 12-month revenues of $1.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 4298.7%. We will update the story again soon as further details emerge. 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.