Hemp Inc (OTCMKTS:HEMP) recently announced that it applauds California’s commitment to agriculture, industrial hemp specifically, with the passing of SB 1409. The new bill, which will go into effect on January 1, 2019, removes the previous requirement that industrial hemp seed cultivators be certified on or before January 1, 2013, finally opening the door for new cultivators to enter the market.
As the company further notes, this will “unleash a dramatic expansion of hemp farming and hemp businesses” in the nation’s largest state and as a global leader in the industrial hemp industry, with the largest multipurpose industrial hemp processing facility in the western hemisphere, Hemp, Inc. stands to gain an enormous amount of business opportunities in the Golden State.
Hemp Inc (OTCMKTS:HEMP) produces products made from industrial hemp. The company also offers products and services to the medical and recreational marijuana industries.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
It also develops and operates a website providing entertainment and news related to medical marijuana industry. The company was formerly known as Marijuana, Inc. and changed its name to Hemp, Inc. in June 2012. Hemp Inc. was founded in 2008 and is headquartered in Las Vegas, Nevada.
According to its own communications materials, the company’s long-term goal is to be the leader in the industrial hemp industry in America, which is now estimated to be over $500 Million. Hemp, Inc.’s mission is to provide green solutions that help make the world a better place to live.
The company apparently supports products that are eco-friendly, organic, healthy, and solutions that replace many petroleum-based products. In addition, 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 square foot warehouse on 9 acres and is scheduled for completion in the last quarter of 2015.
The company will start producing fiber, loss circulation materials (LCM) and absorbents from kenaf and later from hemp. Initially, 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.
Eventually, the company plans to also 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. 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 in the industrial hemp industry.
Making Key Strides
As noted above, HEMP recently announced that it applauds California’s commitment to agriculture, industrial hemp specifically, with the passing of SB 1409. The new bill, which will go into effect on January 1, 2019, removes the previous requirement that industrial hemp seed cultivators be certified on or before January 1, 2013, finally opening the door for new cultivators to enter the market.
It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things.
“This Bill will finally allow farmers in California to partake in this lucrative industry on a broad scale and I applaud Governor Jerry Brown for taking the proactive steps necessary to facilitate the growth of California’s industrial hemp industry,” said Hemp, Inc. CEO, Bruce Perlowin. “The immense opportunity represented by the state’s world-class economy combined with its ideal growing conditions is sure to convince many farmers to switch to hemp. Our new west-coast hemp processing facility in Medford, Oregon, stands to be an excellent resource for all of the new farmers entering the industry as laws continue to evolve. We are also continuing to scout new locations across the country to open additional hemp processing centers.”
Hemp Inc (OTCMKTS:HEMP) pulled in sales of $108K in its last reported quarterly financials, representing top line growth of 401.6%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($661K against $145K).
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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