LAS VEGAS, NV - (NewMediaWire) - August 31, 2015 - Hemp, Inc. (OTC PINK: HEMP), a leader in the industrial hemp industry, announced today that sales for the 2nd quarter ending June 30, 2015 were up significantly over the 1st quarter.
Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP) stated, "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."
While the direction of the company has shifted towards more advanced processing in the milling line, Perlowin says the company will still 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," said Perlowin. All of the equipment, including the new milling line, was purchased by Hemp, Inc. at a deep discount.
According to executives, completion of the entire plant gives Hemp, Inc. the vertical integration of hemp from field to end user solutions. The decortication line is just the start as it 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. US Naval studies have shown that Kenaf and Hemp are the most absorbent natural materials on earth.
It's the perfect migration strategy and Perlowin is committed to the American farmers and to spearheading a new clean, green American Agricultural and Industrial Revolution. The company 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 subsidiary, Industrial Hemp Manufacturing LLC, once the company begins to manufacture DrillWallTM LCM, revenues can potentially range from $392,000.00 to $980,000.00 per month based on an output of just 1 ton per hour, 1 crew shift per day. With 3 crew shifts per day, revenues can potentially range from $1,176,000 to $2,940,000 per month. Potential buyers of LCMs typically seek 3 to 5 year contracts from suppliers which would create a substantial and steady revenue stream for Hemp, Inc.
SpillSorbentTM is another product that Hemp, Inc.'s subsidiary will produce and sell. SpillSorbentTM is 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, Inc. 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 four 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.
According to David Schmitt, COO of Hemp, Inc.'s Industrial Hemp Manufacturing, LLC, crews have worked throughout the second quarter to rebuild most of the components of the Temafa decortication line. To date, the following has been completed:
Replaced bearings, sprockets, chains, belts, and all other components
3-phase power ran from downtown Spring Hope, NC to processing facility (estimated 1 1/2 miles)
Access road built for Duke Energy in order to install and maintain the new transformer
Installed necessary conduit underground in order to pull wire from transformer to switchgear
Installed new fencing and security gate across access road
Installed new 1500 KVA transformer and connected the 480-volt 3-phase power to processing facility on June 30th
Installed new Guard Lite security and surveillance system
Installed new LED high bay lighting in the manufacturing area
Poured concrete pad that included Hemp fiber
Installed new 100-horsepower air compressor
Built structure to protect the compressor from natural elements
Installed video cameras throughout processing facility to record progress 24 hours a day, 7 days a week
Major modifications made to one of the bay doors to allow the Temafa machinery to be positioned in its final place
Began installing cable tray from switchgear to the decortication line
Removed substantial portion of the existing single phase electrical conduit and wiring that will not be used
Remodeled both restrooms in the manufacturing area
Prepared cold storage facility on site to store seed
Engineering drawings required by the County Planning Commission completed
Lab equipment to test finished products purchased so that potential customers can be provided with an accurate Certificate of Analysis
Engineering firm retained to position the 60-foot tall storage silo
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HEMP, INC.'s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC PINK: HEMPD) seeks to benefit many constituencies from a "Cultural Creative" perspective, thereby not exploiting or endangering any group. CEO of Hemp, Inc. (OTC PINK: HEMPD), Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. Thus, the publicly-traded company believes in "up streaming" of a portion of profit from the marketing of their finished hemp goods back to its originator, in which most cases will one day be the American farmer, cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results -- that is, with respect to performance along the interrelated dimensions of people, planet, and profits -- our triple bottom line approach can be an important tool to support our sustainability goal.
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