Hemp Inc (HEMP)

[Det_Robert_Thorne]

HEMP has a negative book value

So, a company that has "real" assets, land, buildings, machinery, tractors, trucks, Hemp, revenue, etc; are scams, and the ones with nothing but a tin can and a PO box are the legitimate companies?

According to HEMP's 2Q/18 disclosure, available only on HEMP's website, the company has $12.710M in assets versus $12.711 in liabilities, meaning that the company has a negative book value.

It's actually much worse than that, because CEO Perlowin persists in carrying $1.8M in the assets column as the value of "LPO Software" that was developed in 2011 or 2012, and has never been used. It should have been written-off years ago, but Perlowin needs to keep it on the books to artificially increase the assets of the company.

So, in reality, HEMP has a negative book value of roughly $1.8M.

And those liabilities? Most are owed to Perlowin, either directly, or indirectly.