Action in shares of Hemp Inc (OTCMKTS:HEMP) continues to be
painful for big shareholders. The stock accelerated to the downside last week,
and folks will be looking for some holiday respite as we stride toward
year-end. To help add some color to that story, the company just announced news
coverage in the outlet, CEOCFO Magazine, an independent investment publication
that highlights important technologies and companies.
According to the release, “the
published article features an interview with Bruce Perlowin, CEO of Hemp, Inc.,
regarding a wide variety of topics, ranging from the history of Hemp, Inc., the
uses of hemp and the current size of the industrial hemp market. There is also
commentary on Hemp, Inc.’s industrial materials, the difference between
marijuana and hemp, the Company’s growth and geographic reach. Additionally,
the interview features Bruce Perlowin’s commentary of his KING OF HEMP product
line and the eco-friendly uses of hemp.”
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
“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 news coverage in the outlet, CEOCFO Magazine, an independent investment publication that highlights important technologies and companies.
Even in light of this news,
HEMP has had a rough past week of trading action, with shares sinking something
like -21% in that time. That said, chart support is nearby and we may be in the
process of constructing a nice setup for some movement back the other way. Moreover,
the listing has benefitted from a jump in recent trading volume to the tune of
74% over what the stock has registered over the longer term.
“You cannot be a know-it-all
in an industry that is only five years old. We are all experimenting with
different parts of it, different drying techniques, different curing
techniques, and different harvesting techniques,” states Perlowin. “When you
are around eleven years in a business, you eventually tend to know who to go to
if you do not have the answer yourself, although we do have quite a few of the
Currently trading at a market
capitalization of $6M, HEMP has a significant war
chest ($2.6M) of cash on the books, which compares with 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%. This may be a very interesting story and we will
look forward to updating it again soon.
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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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