Hemp Inc (OTCMKTS:HEMP) just announced accomplishing two harvests and the drying of its high cannabidiol (CBD) A and B buds in Medford, Oregon to fulfill the growing demand for smokable hemp flower.
According to the release, “The Company announced Oct. 3 that it had begun harvesting its hemp plants in Southern Oregon. Hemp Inc.’s A and B hemp colas are derived from Pre-98 OG Bubba Kush, one of the top selling cultivars on the market. The strain, rich soil and climate lend themselves to Hemp, Inc. colas being among the highest quality buds, positioning them to be some of the best tasting for consumption. A cola refers to a cluster of buds that grow tightly together, also known as the flowering site, on the hemp plant.”
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 accomplishing two harvests and the drying of its high cannabidiol (CBD) A and B buds in Medford, Oregon to fulfill the growing demand for smokable hemp flower.
We’ve witnessed 5% during the past week in terms of shareholder gains in the listing. Furthermore, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 16% over what the stock has registered over the longer term.
“The hemp we harvested and are processing is of the highest quality. We have been diligent every step of the way—from selecting the seed to deciding what materials our hemp will be rolled-up and packaged in,” said Hemp, Inc. CEO Bruce Perlowin. “At the moment we are in the middle of curing the colas but are looking forward to sharing these carefully processed buds with the public when we start producing the King of Hemp pre-rolls.”
Earning a current market cap value of $8.3M, HEMP has a reserve ($525K) of cash on the books, which must be weighed relative to 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.