Hemp, Inc., (OTC:PK HEMP) shareholders are set to receive additional stock in BioAdaptives, Inc. Executives of Hemp, Inc. solidified the all-stock deal with BioAdaptives, Inc. by selling the assets of its subsidiary, BioSwan, Inc. on October 25, 2013.
According to Hemp, Inc., the deal distributes 2,000,000 shares of BioAdaptives common stock to Hemp, Inc. shareholders. The distribution to Hemp, Inc. shareholders will be based on the percentage of ownership of common stock held, but will not be applicable to preferred stock ownership. This distribution of shares is at no cost to Hemp, Inc. shareholders. The ex-dividend date is expected to be sometime within the next three weeks. In layman's terms, the ex-dividend date is the cut off date for anyone owning Hemp, Inc. stock prior to that date will receive stock in BioAdaptives.
According to David Tobias, President of Hemp, Inc., "This sale of the assets of BioSwan is beneficial to Hemp, Inc. shareholders in two ways. First, it allows Hemp management to focus on our core business and not be distracted by non-hemp related business and second, the shareholders receive free stock in a new fully reporting, development stage company, with an excellent future." He continued to say, "And this stem-cell blend is truly unique. It's a clinically-tested, proven formula which enables your body's cells to reproduce itself. Literally healing from the inside out."
Though BioAdaptives is still in its development stage, officials say that does not negate the fact that there are growing numbers of people facing increased health care costs as they age due to the deterioration of their health. BioAdaptives provides solutions… solutions, in the form of nutraceuticals that are designed to aid in cognition, focus, fatigue reduction, increased testosterone, improved overall emotional and physical wellness, healing and anti-aging and age-reversal. "What more could a growing generation of healthy lifestyle seekers want?" asked Bruce Perlowin, CEO of Hemp, Inc.
"Although this has taken much longer than we expected, it has been well worth the wait, especially for our shareholders. BioAdaptives has assembled a great team of Doctors and Scientists to direct the research of, truly, life-changing products. BioAdaptives is a development stage company and is fully reporting to the SEC with all filings up-to-date. Part of the agreement with BioAdaptives calls for the filing of a registration statement covering the shares that will be distributed to the Hemp, Inc. shareholders," said Perlowin.
"This will complete what we shared with our shareholders back in October, 2012. This is the first of four companies that Hemp, Inc. shareholders will benefit from as was mentioned in that press release. The ex-dividend date for the other 3 companies will be announced soon," shared Perlowin.
While Hemp, Inc. will retain the right to sell the products through their Herbagenix nutraceutical division, the company can continue to focus on its hemp-based product brands and line.