Replies to post #67675 on 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.

[Gailm]

The Temafa is scrap metal, at best

The "Net Tangible Assets" would not stand an acid test of "lower of cost or market".

Having fully depreciated Farm equipment myself that (unlike HEMPS Temafa) DOES run, I can tell you book value and actual are very much a function of market price. The market price of the (ONE OF A KIND) Temafa is about ZERO.

Now, as to its future value--it has come to my attention that HEMP was told (LAST YEAR) by Dilo that the missing and broken parts necessary to complete the Temafa were in the $ 1.5-2.0 MILLION dollar range, with NO GUARANTEES.

This is why I had no problem forecasting last week that the Temafa Decorticator WILL NEVER RUN.

Perlowin will pay for props--but not that much.

This isn't about hemp. Hemp died Decades ago.

This is all about a mans GREED.

A word of caution. The FEDS took their time getting here, and they are not much for updates, but one day BANG its over, shut down, suspended pending de-listing OVER.

That might not be too far away, and like musical chairs when the music stops.........