Hemp Inc (OTCMKTS:HEMP) is a micro-cap name now mostly in the industrial hemp space. The company is constantly finding a new angle to make its case that hemp is destined to become a major cash crop as the cannabis revolution plods forward, stripping the plant of its stigma. But the company also struggles with its market message due to a generally problematic balance sheet and a remarkably long runway to renewed revenue growth. That said, traders find the stock engaging as an instrument given its volatility and the company’s history of strong messaging.

The company went out of its way to report on the fact that Wisconsin Governor, Scott Walker, “signed Senate Bill 119, that was adopted last month, into law and published on December 1, 2017. According to the Wisconsin State Legislature, Senate Bill (SB) 119 relates to ‘growing and processing industrial hemp, providing an exemption from emergency rule procedures, granting rule-making authority, making an appropriation, and providing a criminal penalty.’ Senate Bill 119 will also allow a pilot program to be established in the state that will examine the cultivation, processing, and marketing of industrial hemp, and be administered by the Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP).”

Hemp Inc (OTCMKTS:HEMP) was founded in 2008. The company has a reputation as one of the more controversial and scandal-laden enterprises, even by the standards of either the OTC or the cannabis patch, which is certainly painting a picture.

In any case, the company is making strong strides toward reshaping its image as a legitimate emerging leadership play in the industrial hemp space.

Hemp Inc understands its mission to be a provider of “green solutions that help make the world a better place to live. We support products that are eco-friendly, organic, healthy, and solutions that replace many petroleum-based products.”

“Hemp Inc.’s wholly owned subsidiary Industrial Hemp Manufacturing, LLC purchased the largest decortication plant in North America, which is located in Spring Hope, North Carolina. The plant is housed in a 70,000,000 square foot warehouse on 9 acres. The company will start producing fiber, loss circulation materials (LCM) and absorbents from kenaf and later from hemp.”

That narrative continues forward to include the concept that “Hemp, Inc. will produce a product for drilling rigs called “lost circulation material” (LCM), which is used for maintaining the seals when drilling for water, oil, gas, and any other liquid or gas. This product alone is capable of producing millions of dollars in revenue, since some of the largest oil companies in the world will be our primary customers.”

“Eventually, the company will produce fiber materials for the paper and fabric industries, and other industries that utilize materials from hemp to make products such as plastics, building materials, health and beauty related products and more.” In other words, the concept of “diversified applications for hemp as an industrial material” is the paramount idea.

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Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP), said, “It’s time for hemp to make its rightful return to the American landscape. Wisconsin was once a leading producer of industrial hemp and now the crop is set to make a return to the state of Wisconsin.”

“We have seen an influx of calls from Wisconsin just over the past month. Industrial hemp is important to Americans because they are being informed on the difference between hemp and marijuana and the fog of ignorance is dissipating.  Industrial hemp is a miracle crop and a big source of revenue,” concluded Perlowin.

Earning a current market cap value of $16.4M, HEMP has about $258K in cash on the books, which stands against roughly $6.2 million in liabilities. The company has pulled in $55k in TTM revenues. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $HEMP 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 $HEMP, either long or short, and we have not been compensated for this article.