Hemp, Inc. (OTC: HEMP) today announced that sales for the
second quarter ended June 30, 2015, were up significantly over the first
quarter, and provided insight regarding details of the company’s manufacturing
facility and applications of products.
“Although sales were up significantly, this is now an
insignificant part of our business model at this time. Pending completion of
our multipurpose industrial hemp processing plant that vertically integrates
growing, decortification, milling and more, millions of dollars in revenue can
potentially be generated per year. Thus, the direction of the company has now
shifted,” Hemp, Inc. CEO Bruce Perlowin stated in the news release.
While the direction of the company has shifted toward more
advanced processing in the milling line, Perlowin says the company will
continue to market its hemp-based cosmeceutical and nutriceutical product line.
“In terms of generating profit, our multipurpose industrial
hemp processing facility in Spring Hope, North Carolina, by far, outweighs any
sales revenue generated from our product line which is why we feel it best to
shift focus,” Perlowin said, also noting that all of the equipment, including
the new milling line, was purchased by Hemp, Inc. at a deep discount.
Completion of the plant provides Hemp, Inc. the vertical
integration of hemp from field to end user solutions. The decortication line
separates the bast from the core for use in plastic, paper, fiberboard, etc.
The core will then be further processed at the plant’s advanced milling
component generating Lost Circulation Material (LCM) making drilling safer for
the environment and also making spill absorption material for soil and water
remediation. U.S. Naval studies have shown that Kenaf and Hemp are the most
absorbent natural materials on earth.
Committed to “the American farmers and to spearheading a new
clean, green American agricultural and industrial revolution,” Hemp, Inc. said
it hopes to generate revenue from processing Kenaf and, later, hemp for the oil
drilling pipes, textile, building automotive and other industries.
According to David Schmitt, COO of Hemp, Inc.’s Industrial
Hemp Manufacturing LLC subsidiary, once the company begins to manufacture
DrillWallTM LCM, revenues can potentially range from $392,000 to $980,000 per
month based on an output of just 1 ton per hour, one crew shift per day. With
three crew shifts per day, revenues can potentially range from $1,176,000 to
$2,940,000 per month. Potential buyers of LCMs typically seek three to
five-year contracts from suppliers which would create a substantial and steady
revenue stream for Hemp.
Industrial Hemp Manufacturing will also produce and sell
SpillSorbent™, an absorbent made from the core fiber of Kenaf and Hemp plants.
This biodegradable, core material is found to be the most absorbent natural
material on earth and can absorb oil in minutes.
Hemp also has a green technology to make plant fibers fire
retardant, water repellent, absorptive, and super soft. Natural fiber can be
provided as cut fiber, treated fiber, thread, string, textiles, non-woven or
needle punched products.
The company has over 4 million pounds of Kenaf on-hand and
also planted a Kenaf crop this year which should be harvested by the end of
this year. The crop will be the first crop processed by Hemp, Inc.’s
decortication facility.
On 9 acres, multipurpose industrial hemp processing plant is
almost 70% complete and has a 6-inch cement foundation and a refrigerated
section. A skilled crew conducting internal assessments of the equipment has
been ensuring every aspect of the Temafa decortication line is prepped for
maximum operational efficiency. The plant is expected to be fully operational
in the next 90 – 120 days.
For more information visit www.hempinc.com
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