Hemp Inc (HEMP)

[Det_Robert_Thorne]

They're packaging old stock from auction

Notice the production schedule in this PR, and how it increases in the second batch, but decreases in the third:

While our subsidiary, IHM, has been making excellent progress in getting our decortication plant fully operational, we are extremely pleased we were able to churn out the first 25,000 pounds of SpillSuck™ from the mill portion of our facility to go to market," said Bruce Perlowin, CEO of Hemp, Inc.

According to Schmitt, twenty-five thousand pounds are currently being bagged for market delivery. "In the next 2 to 3 weeks, we expect to have another 100,000 pounds ready and 2 - 3 weeks after that, we expect to have 50,000 pounds ready for market delivery. Once in full production, our target is one to three million pounds per month," says Schmitt.

That's because they can't produce more core until the main decorticator is running.

Where is HEMP getting the stuff to package now? Take a look at this inventory from the bankruptcy filing, and notice the entry for FiberZorb, which is the same thing as "SpillSuck":



What this PR is announcing is that they can now package the leftover inventory from the auction, but still can't make more.