Is A Rally In Store? Hemp Inc (OTCMKTS:HEMP) Settles Longstanding Lawsuit

Hemp Inc (OTCMKTS:HEMP) is seeing a bit of buying pressure in early morning session on Tuesday.

Market Reaction:

As of 10:49, HEMP stock moved up 0.81% to $0.0073 with more than 17.03 million shares, compared to its average volume of 42.11 million shares. The stock has moved within a range of $0.0074 – 0.0076 after opening the trade at $0.0075.

Major Trigger:

Hemp, Inc. Settles Longstanding Lawsuit with Securities and Exchange Commission (SEC) – Final Update

Key Highlights:

  • announces today that after the long-standing 5 year-old SEC civil case, the final filing has been completed and the Company is moving forward.
  • Hemp, Inc. and Bruce Perlowin agreed to settle the civil suit against them without admitting or denying the SEC’s allegations.  Perlowin has transitioned from CEO to Chief Visionary Consultant (CVC) and while he no longer manages the day-to-day tasks of the company, he remains the true visionary Hemp, Inc. shareholders have come to admire and respect.
  • The Company remains committed to its longstanding goals and is aggressively moving forward and continues to add new blood and new ideas to the management of the company. Hemp, Inc. has expanded its knowledge base by bringing in a new CEO and new members of its Board of Directors.

Key Quote

Speaking about the deal, Chris Terkelsen, Co-founder of TracTrac, said: “We’ve been seeing huge growth in more challenging racing events, far beyond the shoreline; we knew that to deliver reliable tracking for these longer races further offshore, we needed our system to include satellite technology.”

Related Posts

About The Author