Hemp Inc (HEMP)

[Det_Robert_Thorne]

Point here is that it's non-operational

Who cares where the equipment was purchased at. That's a great deal!!

The previous owners of the equipment, Kenactiv Innovations, formerly known as Biotech Mills, was making the same kenaf-based products when it went bankrupt in late 2013. That plant was being run by Hemp's Dave Schmitt.

Hemp's Perlowin originally promised that the plant would be running by Dec, 2014, then began pushing out the dates.

In late 2015, he said that the decorticator portion of the plant would be running in 1Q/16, then pushed it out to 2Q/16. Then in Jan or Feb, he simply stopped talking about the decorticator section, and in April or May, began to talk about the milling portion. Why?

The rumors are that they found several critical pieces of the decorticator machinery were either broken or missing, and new parts had to be manufactured.

So while HEMP may have gotten the equipment cheap, it's likely that it had broken down, and that's one of the reasons why Kenactiv declared bankruptcy. Unfortunately for Kenactiv, they weren't publicly traded, and so couldn't get convertible notes to continue to fund operations.

When HEMP bought the equipment, money could be found, mainly in the forms of loans from the CEO that are then converted into hundreds of millions, if not billions of shares.

In March, 2014 when Hemp bought the equipment, HEMP had approximately 214M shares (post-reverse based,) while as of mid-Sept, the OS was reported as 858M by someone who called the Tranfer Agent (this person has been accurate in the past).

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125130529

A couple more things:

Perlown also has not mentioned the start of reassembly of the McTavish portion of the line, that I believe cleans and handles the kenaf core before it is moved to the mill.

Without these two lines, HEMP can't separate the fiber and hurd in the kenaf (or eventually, hemp) stalks, and thus can't mill any more LCM or absorbent products.

Now, Perlowin simply says that the plant is "on schedule", whatever that is supposed to mean.