HEMP, INC. (OTCMKTS:HEMP) Speeding Down The Charts

Despite the literal downpour of press releases throwing media attention its way, HEMP, INC.(OTCMKTS:HEMP) has been on the decline since the abrupt end of its spike in the first days of February. The company has mostly had red session since then, and yesterday’s was no different – it took the ticker 14.05% down.

HEMP has certainly been busy since the last time we checked on it. The company’s management seems to have focused heavily on entering into consultant agreements with various other companies – Global Links Corporation (OTCMKTS:GLCO), Hollund Industrial Marine Inc. (OTCMKTS:HIMR), Mega World Food Holding Co. (OTCBB:LIBE). HEMP‘s even released some boastful announcements that said strategic partnerships have begun bearing fruit.

As usual the company is trying hard to improve its PR, which is evident from the appointment of Jerry Cornwell as Head of Investor Relations. However, optimistic press releases are no substitute for an official financial filing, and the fact that HEMP‘s annual report that was due by March 31, 2014 has been delayed certainly isn’t helping the ticker break its descent.

Under the circumstances, it’s no wonder that HEMP crashed when the market shuddered yesterday. HEMP‘s overlong red streak is just one of the many obvious red flags surrounding the company. Add it to its unimpressive latest 10-Q, the delay of its 10-K for the period ended Dec 31, 2013 and the fact that it relies exclusively on a torrent of wordy announcements to keep itself afloat.

The way things are going, only a really convincing annual report is likely to return investor confidence in the company. If it fails to deliver that in a few days, HEMP may continue its ride deeper in the red.