Business
What is Hemp, Inc.? The Leader in Industrial Hemp Releases its 2018 Annual Report with Massive Revenue Increase
Spring Hope, North Carolina--(Newsfile Corp. - April 25, 2019) - Hemp, Inc. (OTC PINK: HEMP) t...
About this update from Hempalta Corp
[{"type":"text","content":"What is Hemp, Inc.? The Leader in Industrial Hemp Releases its 2018 Annual Report with Massive Revenue IncreaseSpring Hope, North Carolina--(Newsfile Corp. - April 25, 2019) - Hemp, Inc. (OTC PINK: HEMP) today reported financial results for the quarter and full year ending December, 31, 2018. A global leader in the industrial hemp industry with bi-coastal processing centers including the 85,000 square-foot multipurpose industrial hemp processing facility in Spring Hope, North Carolina, a state of the art processing center in Medford, Oregon, and a 500-acre hemp growing Eco-Village in Golden Valley, Arizona, Hemp, Inc. showed over an 1,800% increase in sales from previous year 2017.Overall, sales increased from $107,002 in 2017 to $1,960,754 in sales for 2018, showing quarter-on-quarter increase for the year of 2018. Sales by quarter for the year were $96,498 for the 1stquarter; $108,100 in sales for the 2nd quarter; and $159,750 sales in for the 3rdquarter, with a remarkable $1,596,406 for the 4th quarter. Operating expenses rose only 72% percent from the previous year. Full-year sales for 2018 of $1,960,754 represent an increase of over 1,800% over the previous year.\"This steady increase is indicative of the industry's growth. The industrial hemp industry and Hemp, Inc.'s foothold in that industry continue to grow,\" said Bruce Perlowin, CEO of Hemp, Inc. (OTC: HEMP). \"We've fundamentally changed how we run our company to focus on building a hemp infrastructure since none existed previously. We've invested heavily to build this infrastructure, which currently consists of 9 divisions, as you'll read below. I liken Hemp, Inc.'s business model to that of the Amazon.com model where today the richest man in the world plowed all their operating capital and profits back into building the infrastructure. We, instinctively, have been following that same path. This is a business strategy that obviously works very well.\"Perlowin went on to say 2019 will be the breakout year for Hemp, Inc. \"We're hitting the market hard with massive revenues generated from massive sales.\"As the first all-hemp public company in the industrial hemp industry, Hemp, Inc. has remained grounded and steadfast on ensuring the integrity of its guiding principles and it really is paying off. Executives were exceptionally pleased that Hemp, Inc. delivered a stro...