HEMP INC - HEMP STOCK NEWS

Hemp, Inc. (OTC PINK: HEMP) announces the relaunch of its website, featuring a user-friendly design and improved functionality. The integration of hempinc.com and kingofhempusa.com aligns with the company's growth strategy. Key enhancements include streamlined navigation, fast responsiveness across devices, and an improved shopping experience with secure payment options. The site showcases Hemp, Inc.'s extensive CBD product line and offers promotions for customers. CEO Gary Perlowin highlights the importance of this redesign in reflecting the company's evolution in the hemp industry. Continuous updates and customer engagement are pivotal for future growth.

Hemp, Inc. (OTC PINK: HEMP) reports positive growth trends in the industrial hemp sector, expecting a compound annual growth rate of 21.6% by 2027, reaching $18.1 billion. The company highlights its diverse product range, including CBD and biodegradable solutions, fueled by increased consumer awareness of hemp's eco-friendly benefits. Additionally, recent legislative support, such as New York's Senate Bill S8496, aims to enhance local hemp production. Hemp, Inc. continues to leverage state laws to expand its offerings and market presence, reinforcing its status as a leader in the hemp industry.

Hemp, Inc. has marked a significant milestone as the first marijuana-related bill, H.R. 8454, reaches President Biden after receiving unanimous approval from Congress. This legislation aims to enhance research on medical marijuana and CBD, addressing past restrictions. President Biden emphasized the necessity of correcting prior injustices tied to marijuana prohibition. The bill proposes new registration processes for researchers and manufacturers, enabling more comprehensive studies on cannabis. Once signed, it anticipates unlocking further marijuana-related legislative efforts, potentially influencing the market positively.

Hemp Inc. (OTC PINK: HEMP) has reported significant third-quarter financial results for the period ending September 30, 2022, highlighting a 315% increase in total sales during the first nine months compared to 2021. This growth is attributed mainly to rising demand for their CBD products through KingOfHempUSA.com. Additionally, the company has removed the “Yield” sign and is now classified as “Current” by OTC Markets as of November 2, 2022. Hemp Inc. continues to expand its product offerings, including cannabinoid tinctures and innovative industrial products.

Hemp Inc. (OTC PINK: HEMP) reported a significant increase in total sales, rising by approximately 315% for the first nine months of 2022, compared to the same period in 2021. The surge is attributed to the growing demand for CBD products offered through its website, KingOfHempUSA.com, and advancements in industrial oil-absorbing products. The company has also successfully removed the 'Yield' sign from its OTC Market profile, achieving a 'Current' status as of November 2, 2022.

Hemp Inc. (OTC PINK: HEMP) has reported significant advances in industrial and high CBD hemp research, showcasing a cultivar that provides 23.4% complete protein in fan leaves, surpassing the 18.9% protein found in soybeans. The company identifies fan leaves, previously deemed waste, as a valuable resource for animal feed and protein powder. With the global leafy vegetable market at $69.355 billion and the protein supplement market projected at $20.47 billion, Hemp Inc. is positioned for growth. The company has also emphasized its capabilities in leveraging the hempcrete market.

On October 6, 2022, President Biden announced pardons for approximately 6,500 individuals convicted of federal offenses for simple marijuana possession. This decision addresses the disproportionate impact on communities of color and aims to eliminate barriers to employment and housing caused by such convictions. Additionally, Biden urged a review of marijuana's classification as a Schedule 1 controlled substance. Over half of U.S. states have legalized cannabis, reflecting growing support from the public and lawmakers.

Hemp, Inc. (HEMP) recently announced that hempcrete, a sustainable insulation material, has been approved for the U.S. residential building code, enabling its use in 49 states. This was confirmed during a hearing led by the International Code Council (ICC) and is set to be published in 2023 as an appendix to the 2024 International Residential Code (IRC). While it enhances green construction opportunities, hempcrete remains banned from commercial projects until 2025. Additionally, Hemp, Inc. has over 1.5 million lbs of hemp-based materials ready for production, indicating a strong supply capacity.

Hemp Inc. (OTC PINK: HEMP) has reported significant revenue growth in 2022, with quarterly increases of 146%, 383%, and 455% compared to the previous year, resulting in a total growth rate of 315%. The company operates facilities in Spring Hope, North Carolina and Las Vegas, Nevada, producing a range of CBD products and eco-friendly oil spill cleanup solutions. Their products include CBD tinctures, capsules, and pain relief roll-ons, aimed at providing health benefits without psychoactive effects. Hemp Inc. continues to expand its portfolio and market presence.