LAS VEGAS, Aug. 20, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP) today announced second-quarter 2014 sales revenue of $2,365,763 resulting in a net income for the quarter of $1,820,418. Although second quarter sales were down 57% from first quarter they showed a 335% increase over same quarter sales in 2013. The sales for the first six months ending in June 30, 2014 were up by 710% over the same period last year.
"Our second quarter financial results really came in at the high end of all of our expectations," said Bruce Perlowin, CEO of Hemp, Inc. (OTC:HEMP). "Our consulting business in the first quarter generated significant upfront fees which greatly increased revenue for that quarter, the second quarter results are more consistent income and show a very strong growth over same quarter last year. As we continue to progress through 2014, our shareholders will see more of one of our core businesses develop, specifically our new facility where we will be processing industrial hemp when it becomes legal. We are eagerly looking forward to bringing more hemp-based clean, green solutions to the American people. Over the long term, our efforts will position us to drive growth and increased value to our shareholders."
According to Perlowin, much of Hemp, Inc.'s rapid growth and increased revenue can be attributed to its wholly owned subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company (IHMMCC) and its "Community of Companies" is the best 'connected' consulting company in the industry. Thus far, the public companies include: Dewmar International BMC, Inc.; Resource Ventures, Inc. (REVI); Webxu, Inc. (WBXU); Greene Concepts, Inc. (LKEN); Global Links Corp (GLCO); Strategic Global Investments, Inc. (STBV); Liberated Energy, Inc. (LIBE); Hollund Industrial Marine, Inc. (HIMR); Vapor Brands International, Inc. (VAPR); and, Cloud Medical Doctor Software Corp (NSCT) which have all mutually benefitted from the network.
ABOUT HEMP, INC. (OTC:HEMP)
Hemp, Inc. (OTC:HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry. Hemp, Inc. (OTC:HEMP) is not currently involved in the cultivation or marketing of medical cannabis. (www.hempinc.com). Instead, our focus is on industrial hemp and the myriad of uses (over 25,000 products made from hemp that the hemp plant offers) in creating a new clean green American agricultural and industrial revolution.
HEMP, INC.'s TRIPLE BOTTOM LINE
Hemp, Inc. (HEMP) seeks to benefit many constituencies, not exploit or endanger any group of them. 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. 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.
ABOUT THE INDUSTRIAL HEMP AND MEDICAL MARIJUANA CONSULTING COMPANY, INC.
The Industrial Hemp and Medical Marijuana Consulting Company (IHMMCC) is a wholly owned subsidiary of Hemp, Inc. (OTC:HEMP) that pulls industry information from a vast network of specialists. IHMMCC is entrenched in all the multi-faceted opportunities in the medical marijuana and Industrial Hemp industry. (www.HempInc.com) Executives of IHMMCC are interviewing an additional 14 companies and expect considerably more to sign up with this network of companies in the coming weeks, and months.
SAFE HARBOR ACT
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.