Hemp Inc (HEMP)

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That article is 3 years old.

A lot of things are changed, in the meantime.

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Only one: in NC the commission raised to 9 members.


North Carolina's Amended Hemp Bill Signed Into Law by Governor McCrory -- Hemp, Inc. Reports

http://www.marketwired.com/press-release/north-carolinas-amended-hemp-bill-signed-into-law-governor-mccrory-hemp-inc-reports-otc-pink-hemp-2143474.htm

LAS VEGAS, NV--(Marketwired - Jul 19, 2016) - Hemp, Inc. (OTC PINK: HEMP) executives are pleased to announce that in North Carolina, home to Hemp, Inc.'s multi-purpose industrial hemp decortication facility, Governor Pat McCrory has signed into law House Bill 992, which "modifies the industrial hemp research program by clarifying the definition of research purposes and the responsibilities of licenses, creating civil and criminal penalties for violations of the industrial hemp program, and granting rule-making authority to the Industrial Hemp Commission." The ratified bill also adds four appointees to the NC Industrial Hemp Commission. The bill, introduced on April 27, 2016, passed the House on June 14, 2016, passed the Senate on June 30, 2016 and was signed into law on July 11, 2016.

North Carolina now has new regulations for its commission tasked with overseeing the state's industrial hemp research program. According to the NC General Assembly, the amended bill increased the five-member Industrial Hemp Commission to nine members and has widened the Commission's power to write and approve rules for regulating and overseeing research into industrial hemp in the state. Before the amendment, the Commission was limited to only proposing rules.

David Schmitt, COO of Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, said, "The Commission now has the power to write the rules and approve them. What this means for Hemp, Inc. and its industrial hemp decortication facility, here in Spring Hope, is that we'll be able to possibly grow and harvest a very large hemp crop in the Spring of 2017 on up to 50,000 acres and process it at our plant. This provides unlimited, lucrative business opportunities for the company. While Hemp, Inc.'s Industrial Hemp Manufacturing (IHM) is readily available to assist the Commission with industry expertise, we expect Congress to remove industrial hemp from the Federal Controlled Substances Act very soon, thus declassifying it as a Schedule 1 drug because it's not. Hemp is a plant from the cannabis family like marijuana but possesses a very low THC content and you cannot get high by smoking it. Hemp is not marijuana. It can be used in the paper, textiles and plastics industries and has thousands of other uses."