SAN DIEGO, CA – Hempacco Co, Inc. (NASDAQ: HPCO) (“Hempacco”), a hemp smokables company Disrupting Tobacco’s nearly $1 Trillion industry with hemp cigarettes, smoking paper, and alternatives to nicotine tobacco, announced today that it has filed its annual report on Form 10-K for the fiscal year ended December 31, 2022, with the Securities and Exchange Commission. The company reported revenues of $3.967 million for the year ended December 31, 2022, an increase of 234% from $1.187 million for the year ended December 31, 2021.
Hempacco attributed its strong performance to several factors, including:
The launch of its own hemp cigarette brand, The Real Stuff, gaining popularity among consumers looking for alternatives to tobacco and nicotine.
The expansion of celebrity partnership brands like Snoop Dogg, Cheech & Chong, and Hemp Hop with Rick Ross.
The introduction of HempBox, a company with six hundred kiosk vending machines that are planned to carry Hempacco’s products.
The development of its proprietary technology and intellectual property used in the manufacturing of hemp paper and hemp cigarettes, plus its hemp filter infusion patent, a patent to spray hemp with terpenes, and the latest patent to take the cannabis smell out of hemp.
The establishment of its international presence, with the opening of its European office in Poland and the formation of a strategic alliance with Healthy Grains, the largest agricultural business exporter in Latin America.
“We are very proud of our achievements in 2022, which reflect our vision to disrupt the tobacco industry with innovative hemp and CBD smokable products,” said Sandro Piancone, co-founder and CEO of Hempacco. “We have established ourselves as a leader in this emerging market, with a diversified portfolio of brands, products, and services that cater to different segments and preferences of consumers. We have also invested in our technology, infrastructure, and partnerships to expand our reach and scale our operations globally. We are confident we have a strong foundation for continued growth in 2023 and beyond.”
Hempacco recently hired Growth Path Partners to help improve its periodic filing process. The decision was taken to ensure the company’s financial statements were accurate and compliant with industry regulations. This move is expected to help Hempacco save time and money in the long run by streamlining the financial statement preparation and filing process and ensuring that the company’s reports are reliable and prepared on a timely basis. The company anticipates that the pre-audit firm will also provide Hempacco with valuable insights into its financial performance, helping the company make sound decisions for the future.
Hempacco became a publicly-traded Nasdaq company in 2022. The company saw the move as a sign of the industry’s growing acceptance and popularity, as well as its potential for growth and profitability. Hempacco’s decision to go public was met with enthusiasm from investors and cannabis enthusiasts alike. With its listing on a major stock exchange, Hempacco believes it has opened up investment opportunities for people interested in the industry. It has also created new use cases for hemp-derived products and services, which could potentially revolutionize the industry.
About Hempacco
Hempacco Co., Inc.’s goal is Disrupting Tobacco’s nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff functional hemp cigarette and rolling paper brand.
Hempacco’s operating segments include:
Manufacturing of smokables, hemp rolling paper, and cannabinoid sticks
Smokable technology development
The Real Stuff brand of functional smokables and rolling paper
Cheech and Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross
Snoop Dogg Joint Venture of Hemp-Derived Products
Hempacco Co., Inc. is a publicly-traded Nasdaq company under the symbol HPCO. For more information about the company and its products, visit www.hempacco.com.
For investor inquiries, please contact:
Sandro Piancone, CEO
Investor Relations: [email protected]
619-779-0715
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