Updated: Sept 10, 2019
Daniel Blum, the CEO of BioHemp (BKIT), Provides Update on Trading Status, and Focus on International CBD Market
(NEW YORK)--Daniel Blum, the CEO of BioHemp International (OTC: BKIT), conducted an interview on Tuesday, September 10, 2019 to update investors on the current status of trading, and new Internationally focus in building CBD distribution channels.
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WSNC: Hey Daniel, thanks for giving us these few minutes to discuss the company. Well, I guess the first important question many shareholders are interested in is what’s the current status with company? The Company looks to be back but now trading on the grey sheets, and I was wondering if you could first give us an update on what the current status is with company, and are there plans to get back current with OTC Markets, and SEC?
Daniel Blum: Thanks Tom! Yes, as you can imagine it has been a very busy time with the company as we have been working hard to bring the company back into compliance to get back to Current Pink status.
BioHemp International, along with our legal counsel, have been busy working with proper agencies addressing any issues and submitting the necessary paperwork & documents to get the company’s securities back into current status, and moved offed the grey markets.
There is no denying this put a real delay on our plan to build a strong CBD distribution network, but for right now our main priority is to continue to establish BioHemp as the leading CBD distribution platform in the sector.
WSNC: I’m sure it’s hard to predict, but what is time frame you think before we see company back trading current with market?
Daniel Blum: Yes, going forward we want to be precise as possible in our projections. Having said that, dealing with the agencies takes time; our main priority is to re-establish confidence in the market. We are trying to negotiate both, so giving an exact time frame is challenging to provide, but rest assured the company, along with its legal counsel, are moving ahead as quick as we can to address these compliance issues.
WSNC: Now I can understand getting the proper compliance back in place being the highest priority, but what about going forward? What is the company plan in build its distribution network for CBD market? Is that still on track, and what are the pans going forward?
Daniel Blum: Yes, without a doubt. Before this issue came up, we had a plan to become the leading distribution channels for CBD products in the industry. While our plans have been delayed, our strategy remains constant.
With that said, we have revised our plan to expand our focus internationally as the regulatory status on CBD infused products remains unclear with the FDA. We are very confident in the outlook for infused CBD sales in the US in coming years, but feel it's prudent to expand our outlook internationally, which will allow us to continue to grow our channels, which will give the Company even more leverage in the US once the status of these products are clarified.
WSNC: So you guys will be keeping your focus on International sales and distribution? Will you guys be updating the company website with more information soon? Also, what about social media to help keep shareholders informed as this process moves forward?
Daniel Blum: Yes. Focusing internationally will allow us to grow, and long-term will give us the scale which we can leverage both domestic and international channels vertically to the supply side of the sector.
BioHemp is exploring establishing its own compliance standards so that any product distributed through BioHemp’s distribution platforms must meet a minimum of quality, safety, labeling, and proper GMP standards. This could be a great method to build loyalty with our end users, and further establish that any product in the Company's channels are only of the highest quality.
In regards to website and social media yes, that is in the works. We would like to ensure going forward that there will be better communication with our shareholders on non-material events through the platforms of social media. We will also be using the platform for branding and marketing. We should have some updates to website shortly, if they have not been updated already.
WSNC: Finally, as I’m, sure you know you have many shareholders who were stunned by the recent developments , and sharp share price drop, as you can understand. So, for many investors who may feel like the company has ceased operations what would you like to say to them to let them? How do you plan to build back shareholder confidence moving forward?
Daniel Blum: Sure, that is a great question. There is no doubt we have a lot of work to build back shareholder confidence. From the Board of Directors, and myself personally, this is one of our highest priorities moving forward.
Right now, our number one priority is getting the company back compliant and trading current. After that it will be on us to continue to execute our business plan, building relationships, and focusing on acquisitions of distributors both domestically and internationally.
As with anything, the best way to rebuild confidence is to execute. I am thankful that we have shareholders who believe in me and the Company's business plan. I have spoken to many over the past few weeks, and their support will be paramount to our ability to execute.
It's certainly been a challenging 6 weeks; we may be bruised but we aren't beaten. All of these things may take bit more time then we had hoped, but for now my goal, as CEO, is to get out there and let people know we are working hard behind the scenes, and hope in the coming weeks to start delivering on these goals, and work on building a clear communication line with shareholders. This is my priority going forward. So stay tuned!
Note: BKIT is currently trading on the grey sheets, which means their is limited to no bid/ask representation on level 2. Investors wishing to place orders may be required to phone in orders with their brokerage firm.
Daniel Blum, CEO
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* Share structure as of July 19, 2019
100,000,000 Authorized Common Shares
28,850,700 Total Outstanding Common Shares
25,021,000 Total Restricted Common Shares
Public float 3.8 million Common Shares
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About BioHemp International, Inc.
BioHemp International (OTC: BKIT) is a Company focused on rolling up a distribution platform for CBD providers to become the leading consolidation force in the CBD industry. For more information, view the Company’s website www.BioHempInternational.com