Shares of Hemp Inc (OTCMKTS:HEMP) have been tracing along in a sideways pattern for the past 6 weeks after suffering a devastating bearish slide for most of 2019. But the action to close out last week suggests a possible change in the tone for the stock. Helping to drive the nail of that idea home, the company just updated its shareholders on the first phase of processing its high cannabidiol (CBD) hemp crops in Medford, Oregon.
According to the release, “the company has harvested what will be over 85,000 pounds of high CBD hemp flower. Hemp, Inc.’s drying process lends itself to creating its high quality range of “King of Hemp” pre-rolls and high CBD hemp flower. The sheer size and scope of this year’s crop is nothing short of amazing and is expected to be a massive game changer for Hemp, Inc. in terms of anticipated revenue.”
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 updated its shareholders on the first phase of processing its high cannabidiol (CBD) hemp crops in Medford, Oregon.
Recent action has seen 7% added to share values of the listing over the past month of action. Moreover, the name has benefitted from a jump in recent trading volume to the tune of 100% beyond what we have been seeing over the larger time frame.
“Many people, experts in the industry, have come out to see our grow and we’ve gotten a lot of positive comments. Many have said it’s the best crop in Southern Oregon,” said Bruce Perlowin, CEO of Hemp, Inc. “We expect this to be the largest on-going profit center in Hemp, Inc.’s 10-year history. The results of this harvest are proving to be incredibly promising. Furthermore, our shareholders and potential customers have a unique opportunity to watch the successful roll-out, on a daily basis, of Hemp, Inc.’s pre-rolls and high CBD smokable flower, as it goes through each of the different steps of production.”
Now commanding a market cap of $8.4M, HEMP has a stash ($525K) of cash on the books, which compares with about $487K in total current liabilities. HEMP is pulling in trailing 12-month revenues of $2.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 407.6%. 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.