Hemp Inc.'s (OTCPINK: HEMP) share volume on Apr. 2 was just 12,446,190 shares, which is about one-sixth of its three-month average monthly volume of 77,193,745 shares.
Despite the developer of hemp products Mar. 31 announcement that shareholders of HEMP will receive one (1) registered share of BioAdaptives Inc. for every 923 shares of HEMP held, the Las Vegas-based company’s stock volume and value continue to fall.
In reality, Hemp’s shares have lost about two-thirds of their value since Feb. 5, when HEMP closed at 30 cents a share. On Apr. 2, HEMP’s share price closed at 10 cents, unchanged from yesterday’s close.
Deluge of Positive Press Releases Ignoring the slide, the company continues to pepper the media with a deluge of positive press releases almost daily. While many of them sound interesting, they lack any real financial specifics. Here are some of the latest examples: On Mar. 25, Hemp announced that it has acquired interest in the alternative energy company, Liberated Energy Inc. (OTC: LIBE), by way of a signed consultant agreement. Per the agreement, Hemp’s wholly-owned subsidiary IHMMCC will provide professional consulting services to help Liberated Energy, Inc. market and distribute their alternative energy products in the Industrial Hemp and medical marijuana industries.
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Also Developing Vaporizer Products On Jan. 28, VaporBrands International, Inc. (OTC Pink: VAPR) announced it has entered into a Letter of Intent to form a joint venture with Marijuana Inc. , another wholly-owned subsidiary of Hemp.
Under terms of the proposed joint venture, Marijuana, Inc. will assist VaporBrands with the development and distribution of specialized marijuana vaporizing products to be sold primarily through existing medical marijuana dispensary networks.
In addition, VaporBrands and Marijuana, Inc. have agreed to research, develop and distribute vaporizer products specifically for the use of Hemp Oil in natural medicine. Marijuana, Inc. has also agreed to assist VaporBrands in expanding the retail distribution of its current and future electronic nicotine based cigarette products.
Whether the many deals, subsidiaries and consulting agreements Hemp is making can be transformed into revenue and profits remains to be seen.
Terra Tech Corp Forms New Subsidiary to Compete for Nevada Medical Marijuana Permits
In other news, Calif.-based Terra Tech Corp. (OTCQB: TRTC) announced Apr. 2 the formation of MediPharm LLC. a wholly owned Nevada LLC that has been created to compete for medical cannabis permits in Nevada.
The Irvine, Calif.-based company that provides hydroponic equipment for legal-marijuana growers is currently building out all of the necessary components to apply for medical cannabis cultivation, retail and production permits as well as forming their advisory board and selecting appropriate real estate within the counties parameters.
The business licensing and special use permit process for Unincorporated Clark County will be opening in the 3rd week of April.
In addition, if MediPharm is selected at a county level, applications will be presented to the state of Nevada for further review and approval. According to the company, it anticipates that process to be concluded by early June and state level selections to be made in the fourth quarter 2014. While Unincorporated Clark County is first in establishing and implementing their process other counties within the state will be opening up in the near future. Terra Tech intends on applying in multiple jurisdictions.
This is just the latest move made by the company to firmly establish itself in the medical marijuana market.
On Apr. 2, TRTC’s share price closed at $1.00, down 4 cents from its close of $1.00 cents the previous day.
$1 Million in New Financing Pumped into Cannabis Science’s Coffers
Meanwhile, cannabis-based pharmaceutical company Cannabis Science Inc. (NASDAQ OTC: CBIS) announced that on Mar. 18 it had finalized its $1,000,000 private placement and that the funds from the transaction were already in the bank.
The investors included Weedmaps Media Inc., the world's largest online guide for medical cannabis patients, and an unnamed Amsterdam-based investment company.
“We view this investment and collaboration as a great vote of confidence by those who know our industry best, and this is a major step forward for our company, giving us the kind of financial, market, and industry support that we see as key to the growth model of Cannabis Science,” said Director and CEO of Cannabis Science Dorothy H. Bray.
The pricing for the private placement was set at $0.25 per share for 144 restricted shares coupled with a one-year warrant for $0.50 per share to comprise a complete unit offering.
This is just one piece of good news reported by the Colorado Springs, Colo.-based company.
On Feb. 13, Cannabis Science announced its new partnership with Michigan Green Technologies, LLC formed to actively lobby for the legalization of hemp and cannabis in President Obama’s home state of Michigan.
Robert Kane, Director and CFO of Cannabis Science, stated, “Michigan has always been an important market, and with a population twice the size of Colorado's, we see many opportunities ahead through our new venture with Michigan stakeholders."
Cannabis Science has been lobbying hard for the decriminalization of cannabis research, which is definitely makes it a player that is serious about developing products in a timely and safe fashion.
On April 2, CBIS’ share price closed at 16 cents, unchanged from its closing price the previous day.
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