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Sipp Industries Inc (OTCMKTS:SIPC)’s Lack Of Updates Taking Toll On The Stock

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Sipp Industries Inc (OTCMKTS:SIPC) has been unimpressive in the stock market, for the last 1-month, losing $0.005 of its share value. The stock is currently trading at $0.01 per share, but owing to the company’s history of being irregular with its updates and long periods of silence, it is highly unlikely that SIPC would record any significant gains anytime soon. Sipp last made a press release on February 22, 2017, when it announced its plans to develop a new Hemp infused beer formula. However, even this announcement was only able to generate a temporary surge in SIPC’s stock price.

The company has engaged the Sleeping Giant Brewing Company, to help it devise the formula. The two entities hope that the formulation would be ready for release, by the 2Q2017. It should be noted here that there is a hemp infused beer, Major Hemp Brown Ale, which has so far recorded sustained sales. SIPC has claimed that feedback for the ale has continued to remain positive and consumer interest has grown significantly. Sleeping Giant was also the development partner for Major Hemp Brown Ale, as well.

The CEO of Sipp Industries, Syman Vong, expressed his pleasure at the growing momentum of acceptance of their current product. He claimed that this would provide SIPC with a firm foundation for developing a Hemp infused brew, for the exciting market. Although the company management had promised to keep the investors updated on the product development initiatives, there has been no news on the matter as yet.

Earlier, the company revealed that it has signed a distribution agreement, with Colorado Craft Distributors, for the release of its Major Hemp Brown Ale. The distributor would introduce the beverage in social establishments, throughout Denver. The initial run of the beverage produced 50 barrels, resulting in 100 kegs of the premium brown ale. This was to be followed by a new strategy for the determination of a new strategy for wide-scale distribution. No such strategy has been announced as yet.

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