HEMP Inc is set to spin-off into four subsidiaries to include a water and beverage company, an internet software development company, a business opportunity company and a telecommunications company.
The company will still own at least 80% of each subsidiary.
With all eyes on the industrial hemp and medical marijuana industry, coupled with the benefits of legalization, savvy investors are beginning to invest heavily.
The company is building infrastructure with the potential to gain substantial market share before and after industrial hemp prohibition ends.
HEMP president David Tobias said: "We have confidence in the future success of these spin-offs. By separating them from HEMP, Inc. it allows new professional management teams that are experts in their individual industries to take over while we focus more directly on the hemp market."
HEMP CEO Bruce Perlowin said: "Each shareholder of HEMP, Inc. will receive, at no cost, the same percentage of stock in each of the subsidiaries. For example, if someone owns 1% of HEMP, Inc. they will be given 1% of the stock in each of the four companies."
The company produces HerbaGenix nutraceuticals, a hemp protein shakes brand BasicHemp, custom-branded MJ Lover for Him and MJ Lover for Her, and Re-Load Hemp nutraceuticals, which is a blend of organic nutrients, herbs, and vitamins including hemp extract and AFA blue-green alga, Spirulina and Cordyceps and Rhodiola Rosea.
