LAS VEGAS, May 28, 2013 /PRNewswire/ -- As a leading innovator in the industrial hemp market, Hemp, Inc. (OTC: HEMP) keeps a strong foothold in its sector with recent acquisitions and partnerships with such leaders as the Yasheng Group, as lawmakers inch closer to full legalization of hemp on the Federal level. According to a recent article in The Daily Chronic, on 5/25/13, The California Industrial Hemp Farming Act, Senate Bill 566 was "given the green light by the Senate Committee on appropriations" allowing "the bill to be scheduled for a third reading by the full California Senate." This has created a stir in the industry because if the bill passes, the current State definition of marijuana will finally exclude industrial hemp and "would establish a licensing procedure for farmers wishing to cultivate industrial hemp," according to the article's author, Thomas Clarke. In addition to California's Senate Bill 566, an amendment to Senate Bill 3240 was introduced in Washington, DC by Senator Ron Wyden which will amend the Controlled Substances Act to also exclude industrial hemp from the definition of marijuana.
Hemp, Inc.'s CEO, Bruce Perlowin, stated that management is pleased by the amendments in favor of this multibillion dollar industry. However, despite the fact that Colorado, Maine, Montana, North Dakota, Oregon, Vermont, Washington, West Virginia, and Kentucky have all approved legislation that legalizes hemp production, the Federal government must first lift its restrictions before the States can move further. "It's a process. This industry is here to stay and it keeps growing. Eventually, and I think very soon, all restrictions will be lifted. The pressure is on and the economic benefit is undeniable," says Perlowin.
On the pulse of the Industrial Hemp industry and as an industry leader, Hemp, Inc. (OTC: HEMP) has also been busy with co-producing documentaries of commercial-scale planting as mentioned in their recent press release (Hemp, Inc. to Co-Produce Historic Documentary on Commercial-Scale Planting of Hemp). Not to mention its agreement with the Yasheng Group, one of China's largest agricultural producers, to have them grow and process into finished product 637 mu (108 acres) of a specific cultivar of industrial hemp in China.
According to David Tobias, Hemp, Inc.'s President, "There's a resurgence of producing industrial hemp in the United States even though economic studies conducted so far paint a mixed profitability picture. It's undoubtedly a tremendous opportunity ahead for businessmen, investors and even consumers alike."
But while the industry waits for the small majority, or the Federal government to catch up, Hemp, Inc.'s nutritional division has already realized hundreds of thousands of dollars in sales this year, as well as their hemp nutraceuticals, HerbaGenix™ (www.herbagenix.com), advertising revenue from its website (see Northcal wood products) and its industry consulting company, The Industrial Hemp and Medical Marijuana Consulting Company. Other products making major waves in the industry include hemp gemstone candles (www.supportpatchadams.com) made on sought-after Kins Domains; the Eco-Harmony Loyalty Card (www.ecoharmonycard.com); the all-natural, custom-branded sexual enhancers MJ Lover for Him and MJ Lover for Her with hemp extracts (www.mjlover.com) and Re-Load Hemp nutraceuticals formulated from a blend of organic nutrients, herbs, and vitamins including hemp extract (0.00% THC) and AFA blue-green algae, known for its healthful effects (www.re-load.biz); BasicHemp hemp protein complex with Rhodiola Rosea and Cordyceps (www.basichemp.com), and the new Superfood Organics.
ABOUT Hemp, Inc.
Hemp, Inc. (OTC: HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry, allowing to freely market in all 50 states. Hemp, Inc. currently is not involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of growing hemp and medical marijuana in all 50 states and at the federal level will come to pass very quickly now. With that in mind, the company is building the infrastructure with the potential to gain substantial market share before and after industrial hemp and medical marijuana prohibition ends.
Hemp, Inc.'s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC: 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. By Hemp, Inc. focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of people, planet, and profits— our triple bottom line approach can be an important tool to support sustainability goals.
SOURCE Hemp, Inc.