Hemp, Inc. (OTCMKTS:HEMP) Makes A Recovery
Hemp, Inc. (OTCMKTS:HEMP) managed to add 10.75% to its market value yesterday, in spite of the lack of news and the company’s unenviable overall state.
In elaboration – even superficial due diligence could reveals that HEMP‘s financial standing isn’t something to brag about. Here’s what the company’s latest financial report, for the period ended Sept. 30, 2014 showed:
- Cash – $1111 cash
- Current assets (not counting equity) – $1 million
- Securities held for sale – $4.1 million
- Total current liabilities – $957 thousand
- Sales – $14 thousand
- Net loss from operations – $2.3 million
There is just no way around it – the statistic is depressing, and it only gets worse.
A glance at HEMP‘s OTC Markets profile page reveals the fact that it currently has 2.6 BILLION shares outstanding out of 3 billion authorized. Which means that it has issued more than 800 million shares since December.
Yet, in spite of all these red flags, many investors are obviously optimistic about HEMP, In spite of its lack of achievements to date.
Another OTC Markets marijuana-stock company that is currently rising in spite of its continued lack of success is American Green, Inc. (OTCMKTS:ERBB).
