Hemp Inc. (OTCMKTS:HEMP) Pays To Get Pupmed
Another pump that was paid for by Hemp Inc. (OTCMKTS:HEMP) and praised the company’s own stock hit inboxes on Sunday, but it seems it was utterly unsuccessful in convincing investors to commit.
The shameless self-promotions that HEMP keeps paying for don’t seem to be doing the ticker much good. It certainly doesn’t seem like the dollar volume that the meager dollar volume on the day following the tout was worth the $21 thousand that QualityStocks is to receive from HEMP.
However, it it’s no mystery why investors were not too enthusiastic about HEMP. The company was one of the most notorious participants in the marijuana rush that gripped the OTC Markets in 2014, and well know for its tendency to issue fluff press releases, exaggerated claims and outright untrue announcements.
The investors’ mistrust is well earned, even if one is to ignore the numbers in its latest financial report. Which is something that should not be done under any circumstances, because therein lies another of the huge red flags surrounding HEMP:
- Cash – $176 thousand
- Total current assets – $907 thousand
- Total current liabilities – $2.5 million
- Quarterly Revenues – $33 thousand
- Quarterly Net Loss – $1.14 million
This, ladies and gentlemen, is the result of more than a year of concentrated effort on HEMP‘s part.
The fact that this is the best HEMP can manage, in combination with the company’s stock-related shenanigans, sort of makes one wonder how the company has managed to maintain a market cap of $16 MILLION, and why its shares are currently worth a nickel instead of a fraction of that cost.
