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The stock of Hemp Inc (OTCMKTS:HEMP<\/a>D) has returned to crashing down the chart registering a loss of 13.3% and closing at $0.073 per share. The company is currently trading at record for the past three years lows.<\/p>\n HEMP<\/a>’s <\/strong>chart performance has been a total disaster for quite some time but investors suffered an even greater blow when at the end of July the company performed a 1-for-10 reverse split. Initially this boosted the share price of the stock from $0.013 to 13 cents but such price ranges proved to be unsustainable.<\/p>\n It is no wonder that the company is having a hard time getting investors excited. HEMP<\/a><\/strong> finished the first quarter of the year with:<\/p>\n • $632 thousand cash The financial report for the second quarter was supposed to be completed by the middle of the month but HEMP<\/a><\/strong> failed to do so and instead, on August 14, submitted a notification of late filing. The company anticipated that the quarterly will be filed within the 5-day extension period but even now the report is still missing. As a result HEMP<\/a>’s <\/strong>OTCMarkets profile was marked with the OTC PINK Limited Information sign.<\/p>\n Recently the authorized shares of the company got increased from 3 million to 5.5 million not to mention that the reverse split freed even more room for the future issuance of shares. And the possibility of a crushing amount of dilution is very real. In the past any debt the company owed to its CEO was reduced through the issuance of preferred K shares, each of which can be turned into 10 common shares. As of March 31 HEMP<\/a><\/strong> owed $2 million to its CEO.<\/p>\n
• $2.3 million current assets
• $2.27 million current liabilities
• $6,223 revenue
• $1.08 million net loss<\/p>\n