Hemp Naturals Inc (OTCMKTS: HPMM) has seen a spectacular rise in recent days from a start point of well under $0.50 a share to recent highs over $3.25. HPMM has a skull and crossbones designation from Otcmarkets group and looks to be under heavy promotion.
HPMM was trading for less than a dime earlier this year but has transformed in recent months into a volume leader and top traded stocks on the OTCBB.
Hemp Naturals Inc (OTCMKTS: HPMM) bill itself as an early stage company in the research, development, and marketing of hemp and non-hemp-based products. Hemp Naturals plans to make a wide variety of products out of hemp-based and non-hemp based materials along with supplementary goods. This includes, but is not limited to, our Hemp Naturals Rolling Paper, and Five flavors of Ice Tea, which will be going into production as early as next month. Hemp Naturals plans to fill the growing need and demand for hemp and non- hemp-based products within the United States through aggressive marketing and by ensuring that a number of major retailers stock products created by Hemp Naturals. The company plans to follow all Federal regulations and statutes pertinent to the sale of hemp-based goods.
According to the Company’s website; The true health and wellness benefits of hemp extract are only now being realized! Research has shown that our bodies are truly BUILT to accept the amazing phytonutrients and heart-protectant fatty acids contained within pure hemp. It’s a superfood that when taken regularly, provides a broad host of amazing physiological benefits. Our hemp extract has unparalleled bioavailability for maximum effect.
Our hand-crafted CBD Gummies are USA made in an FDA audited and GMP compliant facility with pure Colorado hemp CBD. They are All Natural, Organic, Gluten Free and Non-GMO. Precisely 25mg of Hemp Extract per gummy.
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On December 19 HPMM submited an 8k that stated ‘On December 14, 2018 (“Closing Date”), Hemp Naturals, Inc. (the “Company”) entered into a securities purchase agreement (the “Agreement”) with Armada Investment Fund LLC (the “Investor”), pursuant to which the Company will issue a Six Month, 12% Secured Convertible Promissory Note, (“Note”) secured by Company common stock with a face value of $38,500.00 which provides a conversion feature equal to a variable conversion price equal to 61% multiplied by the Market Price defined as the lowest one day closing bid price for the Company common stock during the twenty day period ending on the latest complete trading day in the OTC Markets prior to the conversion date. The proceeds will be used for general corporate purposes and working capital. The Agreement carries a pre-payment penalty if the Note is paid off 30, 60, 90,120,150, or 180 days following the issue date. The pre-payment penalty is based on the then outstanding principal at the time of pay off plus accrued and unpaid interest multiplied by 120%,125%,130%,135%,140%,145% respectively. After the expiration of 180 days following the issue date, the Company shall have no right of prepayment. The Agreement includes customary representations, warranties and covenants by the Company and customary closing conditions.
On December 27 HPMM announced it will enter the $50 billion nighttime snack industry. Hemp naturals inc is excited to announce our revolutionary new “Twilight Bars”. The bars are a perfect fit with our CBD infused product line. Twilight Bars will be infused with natural nighttime dietary supplements to help with a better sleep, as well as satisfying any nighttime cravings. They are also organic, kosher, vegan, and free of GMOs, gluten, soy, dairy, chemicals, preservatives, and added oils or fats, providing a ‘clean’ new plant-based bar option for consumers who wish to have a better sleep and not feel guilty about it.
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Currently trading at a $500 million market valuation HPMM has little assets except for $10 million in pre paid expenses and no revenues to date. The stock has seen a spectacular rise in recent months as the Company makes a big move into the hemp/cbd space with several products available for sale on their website. Over $3 HPMM looks top heavy. We will be updating on HPMM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HPMM.
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Disclosure: we hold no position in HPMM either long or short and we have not been compensated for this article.