Industrial Hemp Industry Inches Closer to the End of Prohibition on
the Federal Level with Recent Amendments by Lawmakers in California
and Washington, DC
LAS VEGAS, May 28, 2013 /PRNewswire/ -- As a leading
innovator in the industrial hemp market, Hemp, Inc. (OTC: HEMP)
keeps a strong foothold in its sector with recent acquisitions and
partnerships with such leaders as the Yasheng Group, as lawmakers
inch closer to full legalization of hemp on the Federal level.
According to a recent article in The Daily Chronic, on 5/25/13, The
California Industrial Hemp Farming Act, Senate Bill 566 was "given
the green light by the Senate Committee on appropriations" allowing
"the bill to be scheduled for a third reading by the full
California Senate." This has
created a stir in the industry because if the bill passes, the
current State definition of marijuana will finally exclude
industrial hemp and "would establish a licensing procedure for
farmers wishing to cultivate industrial hemp," according to the
article's author, Thomas Clarke. In
addition to California's Senate
Bill 566, an amendment to Senate Bill 3240 was introduced in
Washington, DC by Senator
Ron Wyden which will amend the
Controlled Substances Act to also exclude industrial hemp from the
definition of marijuana.
(Logo:
http://photos.prnewswire.com/prnh/20121107/LA08133LOGO)
Hemp, Inc.'s CEO, Bruce Perlowin,
stated that management is pleased by the amendments in favor of
this multibillion dollar industry. However, despite the fact
that Colorado, Maine, Montana, North
Dakota, Oregon,
Vermont, Washington, West
Virginia, and Kentucky have
all approved legislation that legalizes hemp production, the
Federal government must first lift its restrictions before the
States can move further. "It's a process. This industry is here to
stay and it keeps growing. Eventually, and I think very soon, all
restrictions will be lifted. The pressure is on and the economic
benefit is undeniable," says Perlowin.
On the pulse of the Industrial Hemp industry and as an industry
leader, Hemp, Inc. (OTC: HEMP) has also been busy with co-producing
documentaries of commercial-scale planting as mentioned in their
recent press release (Hemp, Inc. to Co-Produce Historic Documentary
on Commercial-Scale Planting of Hemp). Not to mention its agreement
with the Yasheng Group, one of China's largest agricultural producers, to
have them grow and process into finished product 637 mu (108 acres)
of a specific cultivar of industrial hemp in China.
According to David Tobias, Hemp,
Inc.'s President, "There's a resurgence of producing industrial
hemp in the United States even
though economic studies conducted so far paint a mixed
profitability picture. It's undoubtedly a tremendous opportunity
ahead for businessmen, investors and even consumers alike."
But while the industry waits for the small majority, or the
Federal government to catch up, Hemp, Inc.'s nutritional division
has already realized hundreds of thousands of dollars in sales this
year, as well as their hemp nutraceuticals, HerbaGenix™
(www.herbagenix.com), advertising revenue from its website (see
Northcal wood products) and its industry consulting company, The
Industrial Hemp and Medical Marijuana Consulting Company. Other
products making major waves in the industry include hemp gemstone
candles (www.supportpatchadams.com) made on sought-after Kins
Domains; the Eco-Harmony Loyalty Card (www.ecoharmonycard.com); the
all-natural, custom-branded sexual enhancers MJ Lover for Him and
MJ Lover for Her with hemp extracts (www.mjlover.com) and Re-Load
Hemp nutraceuticals formulated from a blend of organic nutrients,
herbs, and vitamins including hemp extract (0.00% THC) and AFA
blue-green algae, known for its healthful effects
(www.re-load.biz); BasicHemp hemp protein complex with Rhodiola
Rosea and Cordyceps (www.basichemp.com), and the new Superfood
Organics.
ABOUT Hemp, Inc.
Hemp, Inc. (OTC: HEMP) focuses on the vast market created by the
quickly emerging, and growing, multibillion dollar industrial hemp
industry, allowing to freely market in all 50 states. Hemp, Inc.
currently is not involved in the cultivation or marketing of
medical marijuana. It is the company's belief that legalization of
growing hemp and medical marijuana in all 50 states and at the
federal level will come to pass very quickly now. With that in
mind, the company is building the infrastructure with the potential
to gain substantial market share before and after industrial hemp
and medical marijuana prohibition ends.
Hemp, Inc.'s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC: 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.
CONTACT:
phone: 1-877-221-8351
email: info@hemp.com
http://www.hemp.com
SOURCE Hemp, Inc.