Hemp Inc (OTCMKTS:HEMP) has fallen significantly in recent months to well below a penny as the Company has got a stop sign designation from OtcMarkets. In the past HEMP has made many big moves and Microcapdaily has reported on many of them.
On August 1, 2016 we reported on HEMP – 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.
Hemp Inc (OTCMKTS:HEMP) which has a stop sign from OTCMarkets bills itself as a global leader in the industrial hemp industry with bi-coastal processing centers, including the 85,000 square foot multipurpose industrial hemp processing facility on 9 acres in Spring Hope, NC, a 55,000 square foot state-of the art local processing center in White City, Oregon, a 500-acre hemp growing Veteran Village Kins Community in Golden Valley, Arizona, two model “Small Family Hemp Farms” in North Carolina and Arizona, a pre-roll blending manufacturing facility in Las Vegas, NV, and a 5,000 square-foot retail store (The King of Hemp Store(TM)) in Kingman, Arizona. According to recent press releases.
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. Hemp, Inc.’s 70,000 square foot industrial hemp processing facility, on over 9 acres in Spring Hope, North Carolina, is the only one of this magnitude in North America. It is indeed bound to become the mecca of this new clean green agricultural and industrial American revolution. Based on a variety of factors, Perlowin believes North Carolina is strategically positioned to be the largest hemp producing state in America by 2018. However, Kentucky and West Virginia (where Perlowin is currently traveling visiting hemp growing sites) will join this industrial hemp hub along with Virginia, Pennsylvania, New York, Tennessee, South Carolina, and Georgia. Most of these states were historically considered the hemp hub of America and will be again this time next year.
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After years of prohibition, industrial hemp became federally legal in America. President Trump signed off on the 2018 Farm Bill, in December 2018, which redefined hemp as an agricultural commodity, but more importantly, removed it from the Controlled Substances Act. Hemp is no longer considered a Schedule 1 substance and the Drug Enforcement Administration (DEA) will no longer be able to interfere with the interstate commerce of hemp products. With its ever-expanding footprint across the nation, this was a huge win for Hemp, Inc. (OTC: HEMP). Some expect the global industrial hemp industry to hit $20 billion by 2022. Until recently, the U.S. has imported, on average, $100 million worth of hemp products each year, according to Congressional Research Service. Now, hemp legalization will allow American farmers and companies to tap that market.
On May 5 HEMP announced the launch of the King of Hemp(TM) website where Bruce Perlowin’s King of Hemp(TM) pre-rolls, made from premium, smokable hemp flower, are available for purchase. King of Hemp(TM) pre-rolls use A and B hemp colas which are derived from Pre-98 OG Bubba Kush, one of the top selling cultivars on the market. The strain, rich soil and climate lend themselves to these colas being among the highest quality buds, positioning them to be some of the best tasting for consumption.
Hemp, Inc. CEO Bruce Perlowin’s King of Hemp(TM) pre-roll line offers high-end products that are an effective and flavorful, smokable alternative to cigarettes and other hemp consumption methods. The newly launched King of Hemp(TM) pre-rolls are compliant with the 2018 Farm Bill, federal regulations, and regulations in the markets where they are available for purchase. The King of Hemp(TM) pre-rolls can be purchased individually or in packs of 6. Each pre-roll is 1 gram and does not exceed 0.3% THC.
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Currently trading at a $3.5 million market valuation HEMP has significant long term debt that has led to continued dilution and small but growing sales. HEMP has been pink for a long, long time and has yet to get their filings in order or up list to the OTCBB. This continues to be a big problem for the Company which has resulted in a stop sign designation from OtcMarkets. But HEMP is an exciting story in small caps – they are a leader in the industrial hemp industry with bi-coastal processing centers, including the largest multipurpose industrial hemp processing facility in Spring Hope, NC. Since the stock dropped below the $0.01 mark investors are looking for a turnaround. 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.