Hemp Inc. (OTCMKTS:HEMP) Fades To Obscurity
Nothing Hemp Inc. (OTCMKTS:HEMP) has done recently has managed to stir investors into motion. The ticker keeps sliding, and there’s no helping it.
The company’s belated financial report for Q2 2015 failed to move investors at all, which is kind of surprising. There was little chance of the numbers in said report inspiring anyone and bringing more investors into the fold – that much was clear beforehand. If anything, its latest report turned out even more mediocre than the previous one:
- Cash – $176 thousand
- Total current assets – $907 thousand
- Total current liabilities – $2.5 million
- Revenues – $33 thousand
- Net Loss – $1.14 million
What’s interesting in this case, is the fact that even HEMP‘s shameless self-promotion that was made possibly through the touts the pumper outfit QualityStocks failed to push the ticker in any discernible way. It seems like lately investors don’t care enough to even be outraged by the company’s dubious behavior.
But that is to be expected as well, since all that investors have received in return for their faith in HEMP so far is grief. The fact that the company had to perform a 1-for-10 reverse split less than two months ago so that its stock could remain liquid speaks volumes in and of itself – as does the fact that its authorized shares were recently increased to 5.5 BILLION. Pair that with the knowledge that most of its debt is owed to HEMP‘s own CEO, and the fact that the company is paying for its own pumps and it becomes quite obvious why no one seems to be taking the company seriously.
The sad part is that this state of developments is unlikely to change any time soon.
