LAS VEGAS, March 31, 2015 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP), a leader in the industrial hemp industry announced today that sales for the year ending December 31, 2014 were up 235% over the previous year, 2013. According to the 2014 year-end filing, sales were $7,952,014 compared to the mere $2,370,925 in 2013. Assets for the period were up 172% while losses declined by 33%.
According to executives, these improvements were achieved in the midst of the company refocusing on processing kenaf and industrial hemp with its first full-scale, automated Temafa decortication plant in North Carolina. The 70,000 square-foot decortication plant is the only one of its magnitude in the United States.
CEO Bruce Perlowin said, "We're continually strengthening our market presence in this rapidly growing industry so we're expecting strong year-end sales for 2015 as we begin processing kenaf for commercial use this fall and industrial hemp as soon as it is legalized in North Carolina." According to Perlowin, it's the perfect migration strategy and he is committed to the American farmers and to spearheading a new clean, green American Agricultural and Industrial Revolution based on hemp and hemp products. The company hopes to generate revenue from processing Kenaf for the oil drilling pipes, textile, building automotive and other industries.
Hemp, Inc. is positioning itself to be years ahead in the industrial hemp processing industry.
ABOUT HEMP, INC.'s DECORTICATION PLANT IN NORTH CAROLINA
"While our core business increased revenues this year, we definitely made the right decision to refocus Hemp, Inc.'s mission on being the premier leader in industrial hemp and kenaf processing," said Bruce Perlowin, CEO of Hemp, Inc. (OTC:HEMP). See Hemp, Inc.s previous press release on Breaking News for the video updates thus far on the decortication plant.
HEMP, INC.'s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC:HEMP) seeks to benefit many constituencies from a "Cultural Creative" perspective thereby not exploiting or endangering any group. CEO of Hemp, Inc. (OTC:HEMP), Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. Thus, the publicly-traded company believes in "upstreaming" of a portion of profit from the marketing of their finished hemp goods back to its originator, in which most cases will one day be the American farmer, cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of people, planet, and profits—our triple bottom line approach can be an important tool to support sustainability goals.
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