Algae International Group, Inc., through its operating subsidiary American Seed & Oil Company, Inc., is today primarily in the business of hemp production in Vermont to supply seed to the expanding hemp farming market, hemp based consumer products market, and hemp based construction material market. The Company is also piloting a number of other cannabis related products and services. 2014, marks the first time in 70 years hemp has been grown legally within the United States. American Seed & Oil Company has established itself as a leader in Vermont having recently harvested the largest legal hemp crop within the State of Vermont. American Seed & Oil Company will use the seed from the 2014 crop to reach its goal of planting 1,000 acres in 2015. American Seed & Oil Company also anticipates generating revenue through the sale of seeds to other hemp farming operations. A Congressional Research report estimates the hemp consumer products market within the United States has exceeded $500,000,000.00 a year and is growing. Hemp consumer products include lotions and other cosmetics, cooking oils and other edibles, nutraceuticals, paper, and construction material to name just a few. Currently, the raw hemp required to supply the U.S. consumer products market comes exclusively from abroad. American Seed & Oil Company expects the U.S. home grown hemp market to take years to catch up with the existing and growing demand for hemp consumer products and services. Accordingly, American Seed & Oil Company has established an international hemp trade company to source fair trade, organically grown hemp from abroad to supply the U.S. consumer hemp market. Recognizing that the hemp and the overall cannabis market within the U.S. is in its infancy, American Seed & Oil Company continues to pilot a number of additional cannabis business concepts. Existing pilots include hemp clothing, branded hemp edibles and medical marijuana. The parent holding Company, Algae International Group, Inc. continues to explore opportunities to produce economically viable biodiesel from algae both domestically and abroad. However, the Company's primary thrust today is within the cannabis market.
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