LAS VEGAS, April 8, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP) today reported 2013 fourth quarter sales of $722,486, showing quarter-on-quarter increase for the year of 2013. Sales by quarter for the year were $426,321 for the 1st quarter; $534,871 in sales for the 2nd quarter; and, $673,588 sales in for the 3rd quarter. Full-year sales for 2013 of $2,357,266 represent an increase of 26,359% over the previous year.
"2013 was the year we went from a developmental stage company to an operating company and we are very pleased with our stable, consistent growth through each quarter of our first operating year, as pointed out in the figures above. While 26,359% growth is a huge number, we must keep in mind that reflects the transition from a developmental stage company focused on research and development to an operating company focused on beginning its sales and marketing. As the third company in the medical marijuana sector (Medical Marijuana, Inc. first and Cannabis Science, Inc. second) but the first all-hemp public company in the industrial hemp industry, Hemp, Inc. has remained grounded and steadfast on ensuring the integrity of its guiding principles and it really is paying off. The proof is in our sales," said Bruce Perlowin, CEO of Hemp, Inc. (OTC:HEMP).
"Our marketing drove better-than-expected sales and we are pleased to deliver a strong finish to the year. Now, 3 months into the new fiscal year, we are still continuing to work tirelessly for our shareholders and maintaining steady sales growth."
Hemp, Inc. executives say due to the company's stability, both financially and operationally, and their commitment to their shareholders, the company will continue to generate positive sales through the new fiscal year.
ABOUT HEMP, INC.
Hemp, Inc. (OTC:HEMP) focuses on the vast market created by the growing, multibillion dollar industrial hemp industry and strives to be the most diversified company in the sector. Hemp, Inc. (OTC:HEMP) is not currently involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of Industrial Hemp in all 50 states (which is now possible with the passage of the 2014 Farm Bill) will come to pass. With that in mind, the company continues to build infrastructure with the potential to gain substantial market share before and after Industrial Hemp prohibition totally ends.
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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