Hemp, Inc. Settles Longstanding Lawsuit with Securities and Exchange Commission

[ad_1]


Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.


Las Vegas, NV, June 07, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP) announces today that after the long-standing 5 year-old SEC civil case, the final filing has been completed and the Company is moving forward. 

Hemp, Inc. and Bruce Perlowin agreed to settle the civil suit against them without admitting or denying the SEC’s allegations.  Perlowin has transitioned from CEO to Chief Visionary Consultant (CVC) and while he no longer manages the day-to-day tasks of the company, he remains the true visionary Hemp, Inc. shareholders have come to admire and respect.

The Company remains committed to its longstanding goals and is aggressively moving forward and continues to add new blood and new ideas to the management of the company. Hemp, Inc. has expanded its knowledge base by bringing in a new CEO and new members of its Board of Directors.

What is Hemp, Inc.?

What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

HEMP, INC.’S ELEVEN DIVISIONS

It has been Hemp, Inc.’s intent to continually invest in building its hemp infrastructure, especially since none existed previously. In fact, the Company has instinctively been following the same path as Amazon… reinvesting profits and operating capital back into building the infrastructure. This is a business strategy that has been proven and works well.

All the years leading up to this point were building and finishing the largest hemp infrastructure in America.  Now the Company is focusing 90% of its efforts on marketing and generating revenues.

Hemp, Inc.’s eleven divisions are as follows:

Division One –            The Industrial Hemp Infrastructure

Division Two –            The Hemp Farming Infrastructure

Division Three –          The Hemp Extraction & Pre-Roll Blending Infrastructure

Division Four –            The Hemp Educational Infrastructure

Division Five –            The Hemp Marketing Infrastructure

Division Six –              Accessories, Products and Services

Division Seven –         Research and Development

Division Eight –           Industrial Hemp Investments and Joint Ventures

Division Nine –            Industrial Hemp Consulting

Division Ten –             Educational Entertainment

Division Eleven –        Medical and Recreational Marijuana

Division One – The Industrial Hemp Infrastructure

The Industrial Hemp Infrastructure (Division One) consisted of two hemp processing facilities across the country. The largest of the two is its multi-purpose industrial hemp processing facility and milling operation in Spring Hope, North Carolina. It’s the largest “industrial hemp processing center” in the western hemisphere and has grown to become one of the pre-eminent centers of the industrial hemp industry. The 85,000 square foot facility sits on 9-acres. It is environmentally sustainable and was built from the ground up in hopes of “Making America Hemp Again.”  With a patent pending manufacturing process, the North Carolina facility is operating full time to process the Company’s unique kenaf-hemp blend and manufacture all-green natural loss circulation material (LCMs), called DrillWall™.  The DrillWall™ is to be sold to the oil and gas drilling industry, along with an all-green natural oil spill absorbent, a second industrial kenaf-hemp product called Spill-Be-Gone™.

In addition to the company’s industrial hemp processing facility in Spring Hope, North Carolina, Hemp, Inc. also has a 62,000 square-foot raw hemp processing center in Medford, Oregon (which focuses on hemp harvesting, drying, curing, trimming, bagging, storing, and in some cases selling high CBD hemp for local farmers and the Company’s own hemp grows in that area, and post processing for the CBD industry) and approximately 10,000 square feet contracted for the production of finished goods in Las Vegas, Nevada. 

The Company’s main focus is the “King of Hemp® pre-rolls and high CBD smokable buds… a new phenomenon of smoking hemp which has caught the marketplace by storm.

Division One Products:

·       DrillWall™ (a loss circulation material)

·       Spill-Be-Gone™ (an oil spill cleanup product)

·       Hemp/kenaf bioplastics

Division Two – The Hemp Farming Infrastructure

The Hemp Farming Infrastructure (Division Two) consists of numerous acres of hemp and kenaf growing in multiple locations, farm equipment, cloning rooms, clones and seeds, grow rooms, greenhouses, hemp drying facilities and a huge amount of peripheral farming tools and equipment. The progress Hemp, Inc. has made in its agricultural endeavors, over the course of five years, has been amazing. This year marks the sixth year that Hemp, Inc. has been growing hemp. Visit https://www.hempincpresents.com/ to see the videos of Hemp, Inc.’s grows in multiple locations.)

Hemp, Inc. operates “Small Family Hemp Farm” models.  The “Small Family Hemp Farm” in North Carolina is situated on 12 acres and consists of a cloning room, a greenhouse, and enough land to grow 2,000-3,000 high CBD or CBG hemp plants.  The model shows farmers how to grow high CBD and CBG hemp plants, operate a greenhouse and turn a barn into a cloning room to earn up to $100,000+ a year.  This shows an example of how the “Small Family Hemp Farm” can be duplicated and reappear on the American landscape. After all, the original small family farms in America were able to survive economically by growing hemp as their main cash crop and the first five presidents of the United States were all hemp farmers.

Another model “Small Family Hemp Farm” is located Dolan Springs, Arizona.  This “Small Family Hemp Farm” is referred to as “The Orchard” since it has a sizable organic orchard.  There are 2 acres on which hemp will be grown; a cloning room; cold storage; and a greenhouse that is planned to be installed. This year mostly CBG hemp will be grown.

“This year is about sales and marketing for us.  Right now, we believe we have the largest footprint of bio-diverse hemp products with vertical integration in the hemp industry in America today. We are always looking for joint ventures where we have or can expand our footprint,” commented a Hemp, Inc. executive.

Moreover, “A to Z” services for the farmers are available – from harvesting to drying, curing, bucking, machine trimming, hand trimming, bagging, storing, nitrogen sparging, and selling… creating a “one stop shop” for the small to large family farms.

Division Two Products include:

·       The King of Hemp® Pre-Roll Blends

Visit www.kingofhempusa.com for current products.

Division Three – The Hemp Extraction & Pre-Roll Blending Infrastructure

The Hemp CBD Oil Extraction & Pre-Roll Blending Infrastructure (Division Three) originally consisted of a Supercritical C02 Extractor. After operating for over a year it has been determined that Hemp, Inc. will not be involved in the extraction industry and has changed its direction to focus primarily on the King of Hemp® pre-rolls and…

[ad_2]

Read More: Hemp, Inc. Settles Longstanding Lawsuit with Securities and Exchange Commission