Hemp Inc (OTCMKTS:HEMP) Hesitating Around The $0.015 Per Share Mark

[[tagnumber 0]][[tagnumber 1]]The first half of the year went rather badly for the stock of Hemp Inc (OTCMKTS:HEMP) as the stock lost more than 50% of the value it had in January. The recent news that North Carolina has approved the legalization of Hemp/CBD oil had an impressive on the company stock in the beginning of last week, but the hype quickly dissipated.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]One of the reasons might be the fact that [[tagnumber 6]]HEMP[[tagnumber 7]] is still not fully operational. Their Temafa decortication plant is still not reassembled and the numbers contained in the company’s balance sheet for the first quarter of the year don’t look very appealing.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $632 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $2.3 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.27 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $6,223[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1.08 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while some investors might argue that the company’s cash reserves and current assets are decent we must not forget that the current market cap of [[tagnumber 6]]HEMP[[tagnumber 7]] is standing above $40 million. Considering the massive dilution that the company stock has experienced, the 2.5 BILLION increase in authorized shares and the impressive amount of preferred shares still not converted this valuation seems a bit steep.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These are all prerequisites for [[tagnumber 6]]HEMP’s[[tagnumber 7]] lack of ability to keep the gains it made after the NC legalization of CBD/Hemp oil. The company slipped 4.91% in yesterday’s session and closed at $0.0155 with a total of 10.3 million traded shares and a daily dollar volume of $167 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In any case, you should be sure to do your own due diligence and weigh out any risks involved before putting any money on the line.[[tagnumber 2]]