My name is Positive Phil. I am a podcaster/broadcaster and somewhat business motivational speaker. I live in San Diego, CA and working alongside a venture in an industry that will be bigger than CORN. No, not Cannabis.
It’s a HEMP PROCESSING Facility in Oregon with stellar management, would love to share our slide deck with you if this is an Industry that you are looking to invest in. 140,000 sq ft facility, FDA certified – $3M to buy the product to turn into Biomass.
The passing of the 2018 Farm Bill on December 20, 2018 allows U.S. farmers to cultivate, process and sell hemp, the market for which is becoming a multi-billion dollar industry. Simply put hemp is now federally legal and that spells opportunity. Previously, Hemp was categorized as a Schedule I substance under the Controlled Substances Act, the main federal criminal law regarding prohibited drugs such as cannabis and heroin.
If you’re an investor who has been considering an investment in cannabis; then it would be wise to explore the hemp industry. Why? For starters let’s compare the two opportunities. Cannabis is ingested and limited to consumer consumption while hemp has not only medicinal uses but can be used in over 25K industrial applications. We believe the hemp industry will be 10X the size of the cannabis industry. Cannabis, which is still federally illegal, is taxed to death by local and State authorities, can only be sold within the state it is grown and has federal taxation issues under 280E.
The majority of transactions are done in cash so transparency is limited and establishing a normal banking business account is extremely difficult if not next to impossible.
Hemp is federally legal and can be imported and exported both in the US and abroad. Hemp, which is non psychoactive (less than .3% THC), is currently grown in 31 States and is primarily processed into CBD products that are sold legally online and in stores like Sprouts. However, once the supply of farm grown hemp reaches critical mass industrial applications will start replacing or enhancing products in the following industries: plastics, concrete, textiles, biofuels and wood products to name a few.