Replies to post #66281 on Hemp Inc (HEMP)

[Det_Robert_Thorne]

Oh, please! Bruce is the company!

There was no reason for a crash, the company is still well and alive. Let Bruce send out a PR to us shareholders saying that he is stepping down from CEO and this will rise very fast.

Bruce is the CEO, CFO and Chairman of the Board. His brother Craig is the secretary and the other director:

http://www.otcmarkets.com/stock/HEMP/profile

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=8IGcly%252bpCmyRy%252fhx778z5w%253d%253d&nt7=0

Except for a few employees at the NC plant, like Dave Schmitt (who worked at Kenactiv Innovations before it went bankrupt and HEMP bought the equipment,) Bruce P is the company.

He owns well more than 50% of current outstanding shares, is is owed more than a couple of billion additional shares due to the preferred shares he owns and the money he's lent to the company (which shows on the balance sheet as (Share) Subscriptions Payable.)

As to the NC plant, it isn't running and is still months away from completion, which means much more cash is needed ($1M - $2M), and they have no product to sell other than about 125K pounds of processed kenaf absorbent powder that came with the equipment in 2014, 5M pounds of raw kenaf and 1M pounds of kenaf fiber that they've been sitting on since 2014 and haven't been able to sell.

The value of the assets is maybe $5M, max, or about $0.009/share, so somebody could buy the plant and equipment and take the company private for $4M - $6M, because there is no guarantee that the equipment will ever run without the $1M to $2M in additional spending.

If Perlowin were to step down, the company goes BK in a snap!

[Spanky]

The company is alive and well? They burned through tens of millions of dollars and only have a scale to show for. If he can't figure out how to get the defecator running, how do you expect someone else to?