Hemp Inc Moves to Increase Industry Footprint
Hemp Inc (OTCMKTS:HEMP) is a tangential play in the cannabis patch, focusing more on the industrial hemp space. The stock has been on the move lately, ripping over 30% since we last covered the name in late December. Helping that momentum, the company just announced that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), has signed a Letter of Intent with Mullen View Farms and one with John Finch Farms in North Carolina as a move to widen HEMP’s position in the space of hemp production through footprint expansion.
The principle details are given in the company’s communique: “According to the signed LOI with Mullen View Farms, IHM will purchase 1,000 acres of raw hemp that is to be harvested at various locations throughout eastern North Carolina, this year. The signed LOI with John Finch Farms stipulates IHM shall purchase 500 acres of raw hemp stock from John Finch Farms. As with Mullen View Farms, the raw hemp is to be harvested at various locations throughout eastern North Carolina, this year.”
Hemp Inc (OTCMKTS:HEMP) was founded in 2008. According to company information, the company’s long-term goal is “to be the leader in the industrial hemp industry in America”.
The company 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.”
The narrative the company spins includes the idea that “In a forward-thinking move, 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.”
Hemp, Inc. has stated that it plans to purchase, acquire and/or joint venture with complimentary companies across various sectors of the hemp industry in an effort to “build a portfolio of synergistic businesses that will bring Hemp, Inc. cash flow, revenues, value, and position us as a leader in the industrial hemp industry.”
According to the company’s most recent release, the LOIs represent a build-out gain that takes the company to a footprint of a little over 3,000 acres of hemp cultivation capacity.
“We are really excited to be working with Mullen View and John Finch Farms. Mullen View Farms owns a huge warehouse, where we currently store some of our kenaf bales, not too far from our industrial hemp processing facility and wants to grow an additional 30,000 acres of industrial hemp for us in the near future. John Finch Farms has grown 200 acres of kenaf (hibiscus cannabinus, a cousin plant to industrial hemp) for us already,” says David Schmitt, COO of Hemp, Inc.’s subsidiary, Industrial Hemp Manufacturing, LLC.
Apparently, Schmitt also mentioned John Finch received the National Supervisor of the Year Award, last year, during the NC Association of Soil & Water Conservation Districts 71st Annual Meeting.
Bruce Perlowin, CEO of Hemp, Inc. said, “We are proud to collaborate with other American industrial hemp farmers as we now become part of the modern industrial hemp farming movement. This is a turning point for America and it’s a turning point for Hemp, Inc. Hemp, Inc. has the infrastructure in place to process millions of pounds of hemp fibers and stalks a year, on a commercial level. Our 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. The industrial hemp crop is part of history in the making and it is something that will prove to be lucrative not only for the farmers in North Carolina but for Hemp, Inc. as well.”
At this time, carrying a capital value in the market of $1.8M, HEMP has about $98K in cash reserves on the books, which is balanced by just shy of $175K in total current liabilities. HEMP is only pulling in nominal trailing 12-month revenues of $41K. That said, at least things seem to be going in the right direction in terms of top line growth, with y/y quarterly revenues building at 84.8%. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $HEMP stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
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Hemp Inc (OTCMKTS:HEMP) is a tangential play in the cannabis patch, focusing more on the industrial hemp space. The stock has been on the move lately, ripping over 30% since we last covered the name in late December. Helping that momentum, the company just announced that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), has signed a Letter of Intent with Mullen View Farms and one with John Finch Farms in North Carolina as a move to widen HEMP’s position in the space of hemp production through footprint expansion.
The principle details are given in the company’s communique: “According to the signed LOI with Mullen View Farms, IHM will purchase 1,000 acres of raw hemp that is to be harvested at various locations throughout eastern North Carolina, this year. The signed LOI with John Finch Farms stipulates IHM shall purchase 500 acres of raw hemp stock from John Finch Farms. As with Mullen View Farms, the raw hemp is to be harvested at various locations throughout eastern North Carolina, this year.”
Hemp Inc (OTCMKTS:HEMP) was founded in 2008. According to company information, the company’s long-term goal is “to be the leader in the industrial hemp industry in America”.
The company 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.”
The narrative the company spins includes the idea that “In a forward-thinking move, 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.”
Hemp, Inc. has stated that it plans to purchase, acquire and/or joint venture with complimentary companies across various sectors of the hemp industry in an effort to “build a portfolio of synergistic businesses that will bring Hemp, Inc. cash flow, revenues, value, and position us as a leader in the industrial hemp industry.”
According to the company’s most recent release, the LOIs represent a build-out gain that takes the company to a footprint of a little over 3,000 acres of hemp cultivation capacity.
“We are really excited to be working with Mullen View and John Finch Farms. Mullen View Farms owns a huge warehouse, where we currently store some of our kenaf bales, not too far from our industrial hemp processing facility and wants to grow an additional 30,000 acres of industrial hemp for us in the near future. John Finch Farms has grown 200 acres of kenaf (hibiscus cannabinus, a cousin plant to industrial hemp) for us already,” says David Schmitt, COO of Hemp, Inc.’s subsidiary, Industrial Hemp Manufacturing, LLC.
Apparently, Schmitt also mentioned John Finch received the National Supervisor of the Year Award, last year, during the NC Association of Soil & Water Conservation Districts 71st Annual Meeting.
Bruce Perlowin, CEO of Hemp, Inc. said, “We are proud to collaborate with other American industrial hemp farmers as we now become part of the modern industrial hemp farming movement. This is a turning point for America and it’s a turning point for Hemp, Inc. Hemp, Inc. has the infrastructure in place to process millions of pounds of hemp fibers and stalks a year, on a commercial level. Our 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. The industrial hemp crop is part of history in the making and it is something that will prove to be lucrative not only for the farmers in North Carolina but for Hemp, Inc. as well.”
At this time, carrying a capital value in the market of $1.8M, HEMP has about $98K in cash reserves on the books, which is balanced by just shy of $175K in total current liabilities. HEMP is only pulling in nominal trailing 12-month revenues of $41K. That said, at least things seem to be going in the right direction in terms of top line growth, with y/y quarterly revenues building at 84.8%. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $HEMP stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
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