LAS VEGAS, Oct. 29, 2012 /PRNewswire/ -- The Board of Directors of HEMP, Inc. (OTC Pink: HEMP) voted unanimously, Friday evening, to direct HEMP, Inc.'s management team to spin-off four subsidiaries to include a water and beverage company; an internet software development company; a business opportunity company; and a telecommunications company.
David Tobias, President of HEMP, Inc. (OTC Pink: HEMP), stated, "We have confidence in the future success of these spin-offs. By separating them from HEMP, Inc. it allows new professional management teams that are experts in their individual industries to take over while we focus more directly on the hemp market. The shareholders get the best of both worlds; this should free up HEMP, Inc. to grow more quickly, and the shareholders are given an equal percentage in four other companies."
The development of the subsidiaries has been funded by stock of each individual subsidiary and not with HEMP, Inc. stock. HEMP, Inc. will still own at least 80% of each subsidiary and will not be diluted.
Bruce Perlowin, CEO of HEMP, Inc. (OTC Pink: HEMP) pointed out, "This represents an enormous potential benefit for the shareholders of HEMP, Inc. Each shareholder of HEMP, Inc. will receive, at no cost, the same percentage of stock in each of the subsidiaries. For example, if someone owns 1% of HEMP, Inc. they will be given 1% of the stock in each of the four companies."
According to Perlowin, "The projected date of issuance of new shares to all holders of HEMP, Inc. stock is November 21, 2012. Should we hit our spin-off target date, shareholders on that day will be given new stock in all four companies, and it should be a very Happy Thanksgiving."
ABOUT HEMP, INC.
HEMP, Inc. (OTC Pink: HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry. HEMP, Inc. is not involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of hemp in all 50 states and at the federal level will come to pass. With that in mind, the company is building infrastructure with the potential to gain substantial market share before and after industrial hemp prohibition ends. (Pending any federal licensing or other requirements, that may be enacted after hemp prohibition ends).
HEMP, INC.'s TRIPLE BOTTOM LINE
HEMP, Inc. (OTC Pink: HEMP) seeks to benefit many constituencies, not exploit or endanger any group of them. Thus, the publicly-traded company believes in "upstreaming" of a portion of profit from the marketing of their finished hemp goods back to its originator, in which most cases will be the American farmer, cultivating natural, sustainable products. By HEMP, Inc. focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of planet, people and profits— our triple bottom line approach can be an important tool to support sustainability goals.
CEO of HEMP, Inc., Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. In fact, he wanted to, consciously, found a business with non-financial goals that weren't an after-thought, but were part of its DNA. For example, a percentage of proceeds of the hemp.com products are donated to PatchAdams; Kin's Domain (www.kinsdomain.us) which uses natural, organic, sustainably harvested, renewable, pure raw materials; and, an overall use of renewable energy sources.
HTTP://WWW.HERBAGENIX.COM (HEMP BASED SUPPLEMENTS DIVISION)
HTTP://WWW.BASICHEMP.COM (HEMP PROTEIN WITH ENHANCED NUTRITIONALS)
HTTP://WWW.MJLOVER.COM (MJ LOVER FOR HIM; MJ LOVER FOR HER)
HTTP://WWW.RE-LOAD.BIZ (HEMP-BASED NUTRACEUTICALS)
HTTP://WWW.ECOHARMONYCARDS.COM (LOYALTY CARD SUSTAINABLE FUNDRAISER FOR NON-PROFITS)
HTTP://WWW.KINSDOMAIN.US (HOW TO BUILD A KINS DOMAIN AND CREATE THE INCOME FOR THIS)
HTTP://WWW.SUPPORTPATCHADAMS.COM (HEMP GEMSTONE CANDLES AND FUNDRAISER FOR PATCH ADAMS)
HTTP://ECOHARMONYKINSCOMMUNITY.COM (KINS COMMUNITY INFORMATION)
HTTP://WWW.MARIJUANAINC.TV (MEDIA AND ENTERTAINMENT DIVISION)
HTTP://WWW.HEMPINC.TV (MEDIA AND ENTERTAINMENT DIVISION)
HTTP://WWW.MARIJUANAINCORPORATED.COM (COMPANY NEWS AND UPDATES)
HTTP://WWW.TWITTER.COM @MARIJUANAINC (TWITTER)
HTTP://WWW.FACEBOOK.COM/BRUCEPERLOWIN (CEO FAN PAGE)
HTTP://WWW.TWITTER.COM @BRUCEPERLOWIN (CEO TWEETS)
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of HEMP, Inc. to be materially different from the statements made herein.
SOURCE HEMP, Inc.