Hemp Inc (HEMP)

[Det_Robert_Thorne]

1Q/17: $27K Revenue, $15.9M loss, 1.75B shares

No idea what was sold, other than perhaps tuitions for Hemp University, but HEMP did about $27K in revenue in 1Q/17, and lost $15.9M in the process.

Some weird stuff in the report, in that Bruce claimed a stock-based interest expense of $10.7M in 1Q/17, yet at the end of 2016, HEMP only had about $9M in outstanding liabilities, and still is carrying $9.8M in liabilities. The filing doesn't explain this at all.

Perlowin also restated nearly $3.4M of 1Q/16 Stock-based compensation as a stock-based interest expense. Why? Who knows, because it's not covered in the filing.

The OS at the end of 1Q/17 was 1,748,651,127, the same as I reported the TA told me at the end of March. That's an increase of about 517M shares from the end of 2016.

Here's the report:

http://www.otcmarkets.com/financialReportViewer?symbol=HEMP&id=172714