A recent bipartisan bill that has been introduced to congress called the “Industrial Hemp Farming Bill of 2018”provides hope for the revival of the industrial hemp industry in the U.S. The new bill has gained traction in the House, attracting a total of 43 cosponsors and if passed it would strike hemp from the definition of “marijuana” under the Controlled Substance Act. This would mean the revival of an industrial agricultural crop that has been repressed for almost 100 years.
The stigma attached to the hemp plant has been largely created by the significant lack of education surrounding the economic benefits of establishing a commercial hemp industry. The United States Federal Government still implements an irrational classification of the industrious cultivar of the cannabis sativa plant, even though the hemp plant contains no psychoactive effects. Countries around the world utilize the raw materials of the hemp plant and process those materials into thousands of finished goods used in the textiles, bio-composites, food, fuel, and building materials industries.
The Farm Bill of 2014, has made it possible for 38 U.S. states to pass industrial hemp related legislation, which allows for the growth and research of the plant via a pilot program associated with a university. As U.S. states continue to pass legislation, companies like Marijuana Company of America, Inc. (OTC: MCOA) look to provide the necessary capital to an industry that is largely unincorporated. By offering turn-key services to companies and entrepreneurs involved in the cultivation, manufacturing, and distribution of hemp-based products, MCOA has positioned itself as one of the top public companies in the sector.
MCOA has invested into the future of the hemp and cannabis industries, by allocating millions of dollars into a number of startup projects in the United States and Canada. The company is currently pursuing joint venture partnerships and investment opportunities in the legal sectors. MCOA’s wholly owned subsidiary hempSMART™ has actively captured a part of the current $202M CBD market by offering consumers all-natural CBD based formulations via an affiliate marketing model.
HempSMART encourages their customers to become both health-conscious consumers and active participants of cleaning their environment by supporting hemp-based products. The company’s product line includes hempSMART Brain for focus and memory, the hempSMART Pain and Pain Cream product package, hempSMART Full Spectrum Drops with advanced bioavailability, and the newly released sublingual hempSMART Pet Drops with natural bacon flavoring. By supporting hempSMART’s vision and purchasing their products customers are supporting the revival of the hemp industry and in turn taking control of their own personal health.
Medical Marijuana, Inc. (OTC: MJNA) was the first registered cannabis companies on any stock exchange. The company’s wholly owned subsidiary Kannaway, also distributes hemp derived CBD products, also via a multi-level marketing model, by offering customers the opportunity to become “Bran Ambassadors”. Kannaway sells a number of different products including Rev!ve AM and PM CBD oil and their Defined Cannabis Beauty cosmetic line.
Another company Diamond CBD, owned by public company Potnetwork Holdings (OTC: POTN) focuses on the research and development of new CBD products, as well as, focuses on promoting premium hemp extracts that contain full spectrum CBD internationally. Diamond CBD contains an array of CBD products on their website that includes oils, tinctures, edibles, vape liquid, and even CBD honey sticks. PotNetwork Holdings subsidiary has again netted $2M in sales for the month of February, bringing the total sales of the year to $4.1M in only two months.
As regulations ease on the growth of industrial hemp, companies involved in the distribution of CBD should flourish.