Hemp has announced that sales to date from their premium hemp flower, Pre-98 OG Bubba Kush, have reached $980,817.04 over the past ten weeks ($265,200 during the first quarter and $715,617.04 during the first half of the second quarter). The Company expects to hit a groundbreaking milestone of $1,000,000 in a matter of days due to the explosive demand for its high-quality hemp flower. The premium Pre-98 OG Bubba Kush is just one of the many bio-diverse hemp products the Company produces, among hemp for bioplastics and LCM (Lost Circulation Material).
Hemp, Inc.’s CEO, Bruce Perlowin, admits it was “touch and go” with sales for about two months due to the pesky COVID-19 pandemic. “Circumstances, out of our control, interrupted our original timeline and slowed things up for about two months but we knew we had a great product so we simply recalibrated. There’s a saying ‘you can’t keep a good man down’. Well, in this case, I knew COVID-19 couldn’t keep Pre-98 OG Bubba Kush and the company behind it down for long. Sales of hemp flower are exploding. We’re in full swing and are on track to be able to sell our King of Hemp™ pre-rolls in all 50 states. We’re also beginning our mass marketing campaigns so I’m certain we will have revenue in the millions to report for the second quarter and beyond.”
As a global leader in the industrial hemp industry with bi-coastal processing centers, including the 85,000 square foot multipurpose industrial hemp processing facility on 9 acres in Spring Hope, NC, a 55,000 square foot state-of-the-art local processing center in White City, Oregon, a 500-acre hemp growing Veteran Village Kins Community in Golden Valley, Arizona, two model “Small Family Hemp Farms” in North Carolina and Arizona, a pre-roll blending manufacturing facility in Las Vegas, NV, and a 5,000 square-foot retail store (The King of HempStore™) in Kingman, Arizona, Hemp, Inc. has a few more infrastructure footprints to create but other than that, it’s full speed ahead for the Company.
Hemp, Inc. focused most of its resources and personnel on growing and processing a very successful high CBD hemp grow in Southern Oregon. This bold move and strategic action yielded great results in terms of revenue for the Company and have even set the tone for the rest of this year. Oregon also has a uniquely suited climate, politically and agriculturally, to dominate the fast-growing industry. Given that Oregon farmers have demonstrated the ability to grow world-renowned products, it makes sense that they would be able to produce some of the best hemp buds in the world.
The Company’s grow operation in Oregon is among the best in the state and has yielded some of the highest quality hemp colas on the market. The company believes that they will hit the 20% mark of their grade A buds and the rest of the Company’s high-quality colas will be used for their new line of pre-rolls.
Hemp Inc.'s A and B hemp colas are derived from Pre-98 OG Bubba Kush, one of the top selling cultivars on the market. A cola refers to a cluster of buds that grow tightly together, also known as the flowering site, on the hemp plant. The strain, rich soil and climate lend themselves to Hemp, Inc. colas being among the highest quality buds, positioning them to be some of the best tasting for consumption.
“The climate in Oregon, the farmers’ capacity to grow, and their application of skillful hemp farming methods has put Hemp, Inc. in the position to make some of the best quality colas from one of the top cultivars available on the market,” said Hemp, Inc. CEO Bruce Perlowin. “The fact that we have sold so much of it and are closing in on $1 million in sales, faster than the blink of an eye, off the buds alone illustrates the demand for high quality hemp. We are proud of the A and B colas from the Pre-98 OG Bubba Kush, so much so that we are excited to use the same buds in our inaugural batch of King of Hemp™ pre-rolls.”
According to a report from Research and Markets, the global industrial hemp market is projected to grow from USD 4.6 billion in 2019 to USD 26.6 billion by 2025, recording a CAGR of 34%. Hemp, Inc. identified an increased demand for smokable hemp flower as people seek alternative methods of consumption. The Brightfield Group predicts the smokable hemp flower market is projected to be worth $70.6 million this year, jumping from $11.7 million in 2018.
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