Geometry Dash APK Hill Climb Racing APK
55.3 F
New York
Tuesday, December 6, 2022

Hemp Inc (OTCMKTS:HEMP) Benefitting from Renewed Mojo in Cannabis Patch

Must read

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

88 Energy Limited Ltd (EEENF) Update: Continues Climbing on Significant Volume

Investors who might be looking for stocks that have made considerable gains in recent weeks could consider having a closer look at...

Victory Resources Corporation (OTCMKTS:VRCFF) Stock Rockets After Announcing A New Acquisition

Nowadays, lithium is in huge demand across several industries and hence, it the rally in the Victory Resources Corporation (OTCMKTS:VRCFF) stock the...

Hemp Inc (OTCMKTS:HEMP) announced approximately 33,000 pounds of hemp biomass have been processed and are now available for sale. This, along with renewed momentum in the cannabis space, has helped this otherwise weak name to bounce in recent action.

According to the release, The biomass that is available for sale tested at a minimum of 7.5% cannabidiol (CBD). The biomass is from Pre-98 OG Bubba Kush, one of the top selling cultivars on the market. According to a report from Research and Markets, the global industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a CAGR of 34%.

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.

Find out when $HEMP reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, HEMP just announced approximately 33,000 pounds of hemp biomass have been processed and are now available for sale.

Recent action has seen 32% tacked on to share pricing for the company in the past week. Moreover, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 40% beyond its prior sustained average level.

“The hemp biomass comes from the hemp plants that produced the A and B colas for the King of Hemp™ product line, meaning that the biomass comes from the highest quality hemp plants,” said Hemp, Inc. CEO Bruce Perlowin. “It’s really remarkable that we are able to offer biomass for sale and industrial use, and speaks to the versatility of the hemp plant.”

Now commanding a market cap of $8.1M, HEMP has a relatively limited reserve ($258k) of cash on the books, which must be weighed relative to a sizeable mountain of about $6.2M in pressing debt to deal with. One should also note that this mountain of debt has been soaring over recent quarters. HEMP is purportedly pulling in trailing 12-month revenues of $3M. But we don’t for certain if that number will check out over time given the standards in play here for reporting. This is a controversial and interesting story, and we look forward to a follow-up chapter as events transpire. 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.

Latest article

Alibaba Group Holding Limited (OTCMKTS:BABAF) Big Volume with Possible 60% Upside

Alibaba Group Holding Limited (OTCMKTS:  BABAF) is an over the counter stock traded on the OTC Pink markets in the Consumer Discretionary...

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service