Hemp, Inc. (OTC: HEMP) Sets Plan in Motion to Spin-Off Four Robust Subsidiaries before Thanksgiving, 2012
The Board of Directors of Hemp, Inc. (OTC: HEMP) voted unanimously, Friday evening, to direct Hemp, Inc.'s management team to spin-off four subsidiaries to include: a water and beverage company; an internet software development company; a business opportunity company; and a telecommunications company, according to the Kimble Group.
Las Vegas, NV (PRWEB) October 29, 2012
David Tobias, President of Hemp, Inc. (OTC: HEMP), stated, “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. The shareholders get the best of both worlds; this should free up Hemp, Inc. to grow more quickly, and the shareholders are given an equal percentage in four other companies.”
The development of the subsidiaries has been funded by stock of each individual subsidiary and not with Hemp, Inc. stock. Hemp, Inc. will still own at least 80% of each subsidiary and will not be diluted.
Bruce Perlowin, CEO of Hemp, Inc. (OTC: HEMP) pointed out, “This represents an enormous potential benefit for the shareholders of Hemp, Inc. 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."
According to Perlowin, “The projected date of issuance of new shares to all holders of Hemp, Inc. stock is November 21, 2012. Should we hit our spin-off target date, shareholders on that day will be given new stock in all four companies, and it should be a very Happy Thanksgiving.”
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebhemp/stocks/prweb10067447.htmView Comments and Join the Discussion!