Hemp Inc (OTCMKTS:HEMP) Rolling Over Again?

Hemp Inc (OTCMKTS:HEMP) Rolling Over Again?

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Hemp Inc (OTCMKTS:HEMP) just announced that the company was covered in the news in The Kingman Daily Miner, a leading source for news, sports and opinions in Kingman, Arizona and Mohave County.

According to the release, “The published article features the soft launch of The King of Hemp Store, its flagship, brick-and-mortar retail store in Kingman, Arizona that is expected to open in March of this year. The article discusses the types of products that The King of Hemp Store will carry such as hemp shirts, pants, hemp denim jeans, jackets, backpacks, purses, handbags, topicals, shampoos, conditioners and a variety of cannabidiol (CBD) and CBG products such as flower and more will all be available at the store. The article also explains that the Kingman store will have a lounge in which community members can learn more about hemp through educational classes in a relaxing setting.”

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 that the company was covered in the news in The Kingman Daily Miner, a leading source for news, sports and opinions in Kingman, Arizona and Mohave County.

Traders will note 6% added to share values of the listing over the past month of action. What’s more, the company has registered increased average transaction volume recently, with the past month seeing 14% beyond its prior sustained average level.

“Everyone in the community and on social media is talking about the new store. I see it as a nod to the future of industrial hemp in Mohave County—people have a positive outlook about the crop and think that hemp can solve a lot of problems in the world,” Jean Bishop, the District 4 Supervisor from the Mohave County Board of Supervisors, told Hemp, Inc. “Bruce and his team have my support. I’ve met with them about their Veteran’s Village Kins Communities; I think this store really ties all the great work that Hemp, Inc. is doing together.”

Currently trading at a market capitalization of $6.2M, HEMP has a significant war chest ($2.6M) of cash on the books, which must be weighed relative to 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%. We will update the story again soon as developments 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.