Action in shares of Hemp Inc (OTCMKTS:HEMP) continues to be painful for big shareholders. The stock accelerated to the downside last week, and folks will be looking for some holiday respite as we stride toward year-end. To help add some color to that story, the company just announced news coverage in the outlet, CEOCFO Magazine, an independent investment publication that highlights important technologies and companies.
According to the release, “the published article features an interview with Bruce Perlowin, CEO of Hemp, Inc., regarding a wide variety of topics, ranging from the history of Hemp, Inc., the uses of hemp and the current size of the industrial hemp market. There is also commentary on Hemp, Inc.’s industrial materials, the difference between marijuana and hemp, the Company’s growth and geographic reach. Additionally, the interview features Bruce Perlowin’s commentary of his KING OF HEMP product line and the eco-friendly uses of hemp.”
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 news coverage in the outlet, CEOCFO Magazine, an independent investment publication that highlights important technologies and companies.
Even in light of this news, HEMP has had a rough past week of trading action, with shares sinking something like -21% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way. Moreover, the listing has benefitted from a jump in recent trading volume to the tune of 74% over what the stock has registered over the longer term.
“You cannot be a know-it-all in an industry that is only five years old. We are all experimenting with different parts of it, different drying techniques, different curing techniques, and different harvesting techniques,” states Perlowin. “When you are around eleven years in a business, you eventually tend to know who to go to if you do not have the answer yourself, although we do have quite a few of the answers ourselves.”
Currently trading at a market capitalization of $6M, HEMP has a significant war chest ($2.6M) of cash on the books, which compares with about $1.1M 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 $3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 662.9%. 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.