Hemp Inc (OTCMKTS:HEMP) is looking to make a move back 0ver the $0.02 mark as the stock has continued to slide in recent months since the $0.06 break earlier this year. In early 2014 is when HEMP saw its biggest move which are harder to come by these days due to dilution and the increasing share count.
While HEMP is not officially an MJ stock it trades with the sector which recently got a boost as many new states have legalized the drug including California, Nevada, Maine, and Massachusetts on November 8.
Hemp Inc (OTCMKTS:HEMP) is holding company with a number of subsidiaries operating in the industrial hemp sector as well as the legal cannabis industry. The Company intends to focus on the huge peripheral businesses created by the quickly emerging, and growing, multi-billion dollar medical marijuana and hemp industries.
The big story here is HEMP’s Temafa decortication line in North Carolina. The automated Temafa decortication equipment is designed to separate the fiber from the core of the hemp plant through a process known as decortication.
The Temafa decortication line of equipment, the only one of its kind in the United States (there are 2 in Canada, 2 in South Africa and 1 in the UK) enables HEMP to process raw hemp for American farmers into two valuable base products (fiber and hurd) that can both yield hundreds of products.
Back when they bought the decortication CEO Bruce Perlowin said “This purchase of decortication equipment was a critical step in order for Hemp, Inc. to help Americans transition from non-sustainable synthetic solutions to a hemp-based green solution. We are very excited at what we’ll be able to achieve once our manufacturing facility ramps its hemp production volume up over the next few years.”
In March HEMP said it has been given the green light by Nash County to proceed with the reassembly of its Temafa decortication line in North Carolina. In order to issue Hemp, Inc.’s subsidiary its agricultural exemption, the County required the engineering drawings for the line layout and a farm ID number. The company was issued its farm ID number from the North Carolina Department of Revenue and its engineering drawings for the line layout were approved.
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With the agricultural permit in place, the Temafa line of equipment inside the plant can be reassembled. Schmitt is currently making arrangements to get the Temafa Engineers to Spring Hope to begin the process. The Temafa line of equipment is the only one of its size and scope in North America and is one of only five in the world. “There are two in South Africa and two others in France that are actually processing industrial hemp,” says Schmitt.
Earlier this year HEMP announced 2014 year end results; sales for the year ending December 31, 2014 were up 235% over the previous year, 2013. According to the 2014 year-end filing, sales were $7,952,014 compared to the mere $2,370,925 in 2013. Assets for the period were up 172% while losses declined by 33%.
According to executives, these improvements were achieved in the midst of the company refocusing on processing kenaf and industrial hemp with its first full-scale, automated Temafa decortication plant in North Carolina. The 70,000 square-foot decortication plant is the only one of its magnitude in the United States.
On June 29 HEMP announced the huge success of its 3rd Hemp University educational symposium held this past weekend which focused on The Art and Science of CBD Greenhouse Growing. The educational symposium was held at Louisburg College in Louisburg, North Carolina. A team of experts engaged attendees through the greenhouse and indoor growing process from cultivation to harvest and from processing to distribution.
Dr. Robert Bruck, Dean of Science, Technology, Engineering and Mathematics and Distinguished Professor of Environmental Science at Louisburg College, was The Hemp University’s special guest who lectured on soil microbiology during the symposium. Attendees were able to spend half of the course at Hemp, Inc.’s 70,000 square-foot Industrial Hemp Hub, in a 3,000 square-foot cloning room. There, attendees had the opportunity to experience a more hands-on learning approach.
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Currently trading at a $13 million market valuation HEMP is a pink sheet stock, who’s filings are unaudited with a history of big losses that has resulted in significant dilution in the past; but HEMP is an exciting story developing in small caps and the owner of the only decortication plant in the US very strategically located in North Carolina where industrial hemp was recently legalized. The stock is also one of the original pot sector related stocks on the OTC and one good press release away from another big move. We will be updating on HEMP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HEMP.
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Disclosure: we hold no position in HEMP either long or short and we have not been compensated for this article.