HempAmericana Inc (OTC:HMPQ) had a good day of it Monday, on word of production results and revenue estimates following the first successful harvest at the Company’s Union Farm hemp growing facility in Union, Maine.
Planting took place late June into mid-July, and harvest stretched from mid-September thru early November, due to phenotypic variation, with distinctly different phenotypes represented for each strain grown. This presented an extended harvest as many phenotypes matured at different times.
Total yield from this initial harvest is estimated at 4,000 lbs of hemp flower biomass produced from 3,831 harvested plants. If the Company is able to process this biomass at its state-of-the-art extraction and processing facility in Augusta, HempAmericana management expects the sales yield from this harvest in CBD distillate output to exceed $1 million.
So said CEO Salvador Rosillo, "This first grow season was an adventure, to say the least. We battled against pests, nuisances, diseases, inclement weather, and crime. We were prepared for the roller coaster ride, and we handled these challenges with determination and professionalism along the way. We stepped up our game and rescued great success from the jaws of adversity."
Share trading in HMPQ proved exciting, gaining one-20th of a cent, or 5.6%, over noon hour Monday to 94-100ths of a cent, on volume of 5.4 million shares.
