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INDUSTRIAL HEMP

Hemp Inc (OTCMKTS:HEMP) Marketing Segment In Full Swing

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Hemp Inc (OTCMKTS:HEMP) reported that its marketing segment named as Hemp Division Five, is in full swing as it sets to ship its initial two purchase orders of Kenaf fiber and Drillwall. The Drillwall order is all set to be shipped to a firm in the Permian Basin. As it is known, Permian Basin marks as a sedimentary basin mainly contained in the southeastern area of the New Mexico and western part of Texas. It is one of the most fertile gas and oil producing regions in the nation.

The buzz

Hemp’s loss circulation offering is being private labeled, mostly like how company’s upcoming bulk Cannabidiol sales will be. When a firm private labels or custom brands their own products, they don’t want the source of raw materials identified to their peers or customers. The company intends to honor that privacy as it positions itself as the leading supplier of bulk goods and raw material to other formulators, entrepreneurs, distributors and manufacturers in the industrial hemp industry.

David Schmitt, the COO of Hemp’s subsidiary named IHM, expressed that they are thrilled to be in full speed with the initial purchase order for their Drillwall. They have moved into a long term supply deal with this distributor. In addition, they also recorded another order for a truck load of their Kenaf fiber to be shipped to a firm in New Jersey. Both of these purchase orders will be shipped early in 2018. Due to mutual non-disclosure deals in place, and the description aforementioned, Schmitt is unable to reveal the purchasers of these orders.

In the last trading session, the stock price of Hemp jumped more than 8% to close the day at $0.0362. The gains came at a share volume of 77.72 million compared to average share volume of 32.31 million.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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