LAS VEGAS, April 7, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP) announced today that the Financial Industry Regulatory Authority (FINRA) has approved the dividend payment to Hemp, Inc. common shareholders for the spin-off of Hemp, Inc. subsidiary, BioSwan, Inc. assets. All Hemp, Inc. shareholders of record, owning common stock, as of closing on January 13, 2014, are entitled to the dividend distribution. The dividend of BioAdaptives, Inc. common stock equates to one (1) share of BioAdaptives for every nine hundred twenty three (923) common shares of HEMP, Inc. held.
According to executives, electronic shares of BioAdaptives, Inc. will be added to shareholder accounts if their Hemp, Inc. shares are currently held electronically. A paper certificate will be issued to shareholders who currently hold their Hemp, Inc. common shares in the form of a paper certificate.
While BioAdaptives, Inc. has been approved by the Depository Trust and Clearing Company (DTCC) for electronic processing, the company is still awaiting a ticker symbol from FINRA. While a definite date can not be ascertained, company executives expect completion of the final step, of the ticker symbol issuance from FINRA, to be soon.
Hemp, Inc. CEO, Bruce Perlowin said, "This has been a long process. We clearly miscalculated the time it would take to complete this process. However, we got our final approval and we look forward to rewarding our shareholders with BioAdaptives, Inc. stock very soon." He continued saying, "We also look forward to continuing with the next three companies previously announced over a year ago. While we can't anticipate that exact date, we are moving as fast as possible to complete that process as well."
BioAdaptives, Inc.'s patent-pending nutraceutical products have been in testing for over three years and are nearing release with significant scientific data supporting their efficacy and benefits. Management believes the extensive research and development will pay off.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Hemp, Inc. to be materially different from the statements made herein.
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