Hemp Inc (OTCMKTS:HEMP) shares recently slipped under technical support in the $0.025. The stock has possibly found some bids in that zone, perhaps inspired by recent word from the the company to the market that it has been expanding its operational footprint nationwide.
HEMP cites recent research that suggests the hemp-derived CBD market is expected to hit $591 million this year, and it may grow 40 times this size—to $22 billion by 2022, according to the report. As a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, Hemp, Inc. (OTC: HEMP) has a solid infrastructure to support the industry’s rapid growth.
Hemp Inc (OTCMKTS:HEMP), now commanding a market cap of $19.9M, 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.
Over the past week, shares of the stock have suffered from clear selling pressure, dropping by roughly -11%. But the last couple days have seen some bids, holding the stock above key support despite broad weakness in the stock market.
“We are thrilled to be at the forefront of the hemp-derived CBD market that has already demonstrated record-breaking growth positioning us towards the very top of this multi-billion dollar industry,” said Hemp, Inc. CEO Bruce Perlowin.
Hemp, Inc.’s joint venture model with farmers across the U.S. has reportedly positioned the company as “a leader” in providing hemp education and an infrastructure through which to cultivate, process, and manufacture this viable crop.
“Hemp, Inc. is committed to meeting market demand for high quality hemp and derived products, building on our strategic operations throughout the country to ensure Hemp, Inc.’s standing as one of the premiere growers, suppliers and manufacturers of hemp to the U.S.,” says Perlowin.
Hemp Inc (OTCMKTS:HEMP) managed to rope in revenues totaling $96K in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 251.5%, as compared to year-ago data in comparable terms. 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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