Hemp Inc (OTCMKTS:HEMP) disclosed that its decortication line has been highlighted in latest issue of Freedom Leaf magazine. It is a matter of recognition for Hemp as Freedom Leaf magazine is a leading multi-media industry magazine launched to support legalization of marijuana. Although the company issued several promising PRs in last one month, still the stock price of Hemp failed to halt its declining trend. In a matter of few months, the stock has declined from level of above $0.04 to $0.0140.
The buzz
The stats highlights that there are almost 300,000 magazines in circulation in 32 U.S. states by 160 advocates and conventional distribution networks. This month issue of Freedom Leaf magazine not only throws light on good news related to marijuana reforms but as well pays honour to George Shlichten’s hemp decorticator of 1917.
Hemp expects its Decorticator line in North Carolina to transform the industry of manufacturing of raw hemp in the nation. The company intends to assist Americans move from synthetic offerings to more sustainable hemp-based green solutions.
The initiatives
Hemp acquired the large-scale commercial decorticator line in the U.S, which was designed to process kenaf. It was owned a tobacco company which after a short time walked off and transferred the rights of massive machinery to other party. Bruce Perlowin, the Chief Executive, stated that there are just 5 decorticators of large-scale in the world and Hemp Inc. has one of them.
The decorticator line is close to register a strong return in the U.S. hemp market. To document the reassembling process of its decorticator line, the company is using video cameras in its facility based in North Carolina.
In last trading session, the stock price of Hemp Inc (OTCMKTS:HEMP)Â declined more than 4% to close the trading session at $0.0140. The decline came at a share volume of 8.77 million compared to average share volume of 8.94 million.
