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Friday, October 7, 2022

Comeback Time on Hemp Inc (OTCMKTS:HEMP)

Hemp Inc (OTCMKTS:HEMP) has been slowly trending up in recent trading since falling as low as $0.018 at the end of June. The stock has seen little benefit from the recent pot stock boom which has sent many in the sector skyward.

There are big things happening for HEMP, last month the Company said they successful planted 420 acres of Kenaf, in North Carolina, triggered the next phase of also growing industrial hemp. According to the Company the planting of the hemp crop was completed on July 12.

Hemp Inc (OTCMKTS:HEMP) is holding company with a number of subsidiaries operating in the industrial hemp sector as well as the legal cannabis industry. The Company intends to focus on the huge peripheral businesses created by the quickly emerging, and growing, multi-billion dollar medical marijuana and hemp industries.

The big story here is HEMP’s Temafa decortication line in North Carolina. The automated Temafa decortication equipment is designed to separate the fiber from the core of the hemp plant through a process known as decortication.

The Temafa decortication line of equipment, the only one of its kind in the United States (there are 2 in Canada, 2 in South Africa and 1 in the UK) enables HEMP to process raw hemp for American farmers into two valuable base products (fiber and hurd) that can both yield hundreds of products.

Back when they bought the decortication CEO Bruce Perlowin said “This purchase of decortication equipment was a critical step in order for Hemp, Inc. to help Americans transition from non-sustainable synthetic solutions to a hemp-based green solution. We are very excited at what we’ll be able to achieve once our manufacturing facility ramps its hemp production volume up over the next few years.”

In March HEMP said it has been given the green light by Nash County to proceed with the reassembly of its Temafa decortication line in North Carolina. In order to issue Hemp, Inc.’s subsidiary its agricultural exemption, the County required the engineering drawings for the line layout and a farm ID number. The company was issued its farm ID number from the North Carolina Department of Revenue and its engineering drawings for the line layout were approved.

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With the agricultural permit in place, the Temafa line of equipment inside the plant can be reassembled. Schmitt is currently making arrangements to get the Temafa Engineers to Spring Hope to begin the process. The Temafa line of equipment is the only one of its size and scope in North America and is one of only five in the world. “There are two in South Africa and two others in France that are actually processing industrial hemp,” says Schmitt.

Earlier this year HEMP announced 2014 year end results; sales for the year ending December 31, 2014 were up 235% over the previous year, 2013. According to the 2014 year-end filing, sales were $7,952,014 compared to the mere $2,370,925 in 2013. Assets for the period were up 172% while losses declined by 33%.

According to executives, these improvements were achieved in the midst of the company refocusing on processing kenaf and industrial hemp with its first full-scale, automated Temafa decortication plant in North Carolina. The 70,000 square-foot decortication plant is the only one of its magnitude in the United States.

On July 12 HEMP announced the next phase of its strategic business plan has been initiated… Hemp, Inc.’s planting of its first fifty-three acres of hemp. According to executives, Hemp, Inc. will begin to joint venture with land owners and/or companies across America to grow hemp while it continues to complete the final phase of bringing online its multi-purpose hemp processing facility in North Carolina. Last month’s successful planting of 420 acres of Kenaf, in North Carolina, triggered the next phase of also growing industrial hemp.

The planting of the hemp crop will be completed by today, July 12, 2016, according to Almadova. And by early October, 2016, the harvest will be complete.

CEO Bruce Perlowin said “We have a 70,000 square foot industrial hemp processing facility, on 9 acres of land in the final stages of completion, so our primary focus is on getting it operational. Growing hemp is also part of our strategic business model. I am very excited to have signed an agreement with Ron Almadova of Agri-Tech Farms, LLC. The 2016 hemp crop will be grown on Almadova’s land in Tonopah, Nevada.”

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Currently trading at a $12 million market valuation HEMP is a pink sheet stock, who’s filings are unaudited with a history of big losses that has resulted in significant dilution in the past; but HEMP is an exciting story developing in small caps and the owner of the only decortication plant in the US very strategically located in North Carolina where industrial hemp was recently legalized. The stock is also one of the original pot sector related stocks on the OTC and one good press release away from another big move. We will be updating on HEMP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HEMP.

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Disclosure: we hold no position in HEMP either long or short and we have not been compensated for this article.

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