One stock that has been sharply capitalizing on the fervor stemming from the 2018 Farm Bill signed by Congress and the President in December is HempAmericana Inc (OTCMKTS:HMPQ). We have seen about 110% in gains since November, and the strength was reinforced last week when the company announced that the Company has signed a Letter of Intent for the purchase of the entire crop of hemp flower from a key East Coast supplier.
According to the release, “Such hemp involved in a subsequent purchase agreement will go toward supplying the Company’s CBD extraction and production activities at its primary facility in Augusta, Maine. As the Company has noted in its recent press releases, production activity is set to ramp up to full-scale levels, and acquiring sufficient hemp supplies is a clear priority for management.”
HempAmericana Inc (OTCMKTS:HMPQ) bills itself as a company that researches, develops and sells products made of industrial hemp. The company also carries other non-hemp based products but intends to focus primarily on the potential for hemp.
At this time the HMPQ’s main product is its brand of hemp-based rolling papers known as “Rolling Thunders” that are to be used for the smoking of tobacco and other legal substances.
In essence, anything that can be made with plastic can be made with industrial hemp and HempAmericana plans to fill the growing need and demand for hemp-based products within the United States. The company also intends to explore other possible business avenues relating to the legal use of the Cannabis plant.
According to company materials, “HempAmericana is an emerging leader in the CBD products market. The Company owns and operates a high-capacity, state-of-the-art CBD extraction and processing facility located in Augusta, Maine. This facility is armed with a supersized supercritical CO2 extraction system, centrifugal partition chromatography refinement technology, and a mechanized fully-automated CBD bottling system. HempAmericana also owns and operates Union Farm, a high-potency CBD strain development facility located in Union, Maine. The Company’s CBD oil business uses the brand designation, “Weed Got Oil”. HempAmericana also researches, develops, and sells products made of industrial hemp, including a popular brand of hemp rolling papers marketed under the brand name, “Rolling Thunders”. See more at www.hempamericana.com”.
Find out when $HMPQ reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, HMPQ just announced that the Company has signed a Letter of Intent for the purchase of the entire crop of hemp flower from a key East Coast supplier.
Traders will note 15% during the past week in terms of shareholder gains in the company. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of exceeding 110% above its longer-run average levels.
CEO, Salvador Rosillo stated, “My team and I will be traveling down to the site next week to meet with the team from the key supplier along with more than 40 other farmers in the region. We believe this will be the beginning of a beautiful relationship as we look to establish a pipeline of hemp flower heading up the coast to join with our local suppliers here in Maine, in addition to our plans for immediate expansion beyond Maine.”
Now commanding a market cap of $42.15M, HMPQ has about $202k in cash on the books, which must be weighed relative to about $3.3M in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $HMPQ stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $HMPQ, either long or short, and we have not been compensated for this article.