After doing some research on the latest filings from Terra Tech Corp. (TRTC), it’s hard to not think this company can actually produce some sticky green. Once you get passed the raw numbers which shows a net loss of $16.6 million for the three month period ended March 31, 2012, the merger with GrowOp Technology could hydroponically grow some bottom line numbers soon.
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TRTC Stock Structure
Current Price: 0.505 (Get Quote)
Authorized: 350,000,000
Issued and outstanding: 81,998,520 as of May 18, 2012
Terra Tech has a very influential Director helping Derek Peterson, CEO. Eddie Piatt, a Director for Terra Tech, is a name for those who trade long on penny stocks like Cannabis Science (CBIS) and Medical Marijuana (MJNA). In 2010, he was featured in a New York Timesarticle where he was penciled in as the architect for a proposal to create four large-scale marijuana factories in Oakland which kicked off a turf war in the lucrative market for medicinal marijuana. Obviously when you plan to cultivate as much as 21,000 pounds of marijuana a year which would be valued at roughly $60 million in annual revenues.
In early February, Terra Tech Corp. merged with GrowOp Technology Ltd. by selling 33,998,50 shares of TRTC stock for all the issued and outstanding shares in GrowOp Technology. The effect made GrowOp Technology shareholders approximately 41.46% owners of the issued and outstanding shares of TRTC stock making GrowOp Technology a wholly-owned subsidiary of Terra Tech.
Now the principal business of Terra Tech, GrowOp Technology, founded in March 2010, is dedicated to the integration of the best of breed hydroponic equipment with proprietary technology to create sustainable solutions for the cultivation of indoor agriculture. You’ve heard of these companies before, Phototron (PHOT) which has changed to GrowLife, but this time it is looking much more advanced.
Earlier this morning, the Company announced the launch of three new websites: Bestbuyhydro.com, Goodearthhydro.com and Egrow.com. Between the three, there are literally thousands of cultivation products for the urban agricultural enthusiast to choose from such as horticultural lighting equipment to hi-tech aeroponic and hydroponic systems. This will easily add to top line numbers which, from the time of the acquisition until March 31, 2012, was $218,905 with an operating profit of $82,475. Literally 7 weeks, $30K a week in sales.
About TRTC Stock
Terra Tech Corp., through their wholly-owned subsidiary GrowOp Technology, specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners.
Click here to view the SEC filings for TRTC.
Bottom Line: Having filed an NT 10-Q last week, TRTC could be a surprise penny stock to watch upon their filing of current financial data. The $16,277,200 of the Q1 net loss being attributable to the issuance of 100 shares of Series A Preferred Stock valued at $0.2083 per share and 14,750,000 shares of Series B Preferred Stock valued at $1.1217 per share to Derek Peterson and Amy Almsteier, both of whom are officers and directors of the Company. Subtract that, and TRTC is very close to breaking even.
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