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Saturday, December 3, 2022

Another Look At An Old Favorite: Terra Tech Corp (OTCMKTS: TRTC)

Terra Tech Corp (OTCMKTS: TRTC) is one pot that is due for a run, currently trading near the bottom of its range there is huge demand for this stock that regularly tops several million $USD in daily trading volume.

TRTC operates in the booming MJ sector that continues to grow; Cannabis research firm ArcView is projecting growth in North American legal sales to around $22 billion by 2021 from $6.9 billion in 2016. With Canada set to legalize recreational cannabis on October 17, pot stocks have been on fire.

Terra Tech Corp (OTCMKTS: TRTC) is one of the original pot stocks on the OTC led by Derek Peterson “The Public Spokesperson for Medical and Legalized Marijuana. that we have been reporting on for years. Terra Tech is the operator of multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC.

Blüm’s retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada and California. Blüm offers a broad selection of cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations.

IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces cannabis-extracted products for regulated medical cannabis dispensaries throughout California and medical and adult-use dispensaries in Nevada.

Terra Techs wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Ahold, Aldi, Meijer, Kroger, Stop & Shop and others nationwide. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and adult-use cannabis cultivation and permitting businesses throughout Nevada.

Terra Tech has a presence in three states (California, Nevada and New Jersey), and currently has cannabis operations in California and Nevada. All the Company’s cannabis dispensaries operate under the name Blüm. Terra Techs cannabis dispensaries offer a broad selection of medical and adult use cannabis products including flowers, concentrates and edibles. The Company holds an exclusive patent on an organic antioxidant rich Superleaf lettuce and sells living herbs that are grown using classic Dutch hydroponic farming methods.

The Company is led by Derek Peterson, a former Vice President at Morgan Stanley. He left Wall Street because he saw a huge opportunity in medical marijuana. His vision is setting up growing facilities in various states to grow herbs such as basil and thyme with plans to switch to Marijuana production as state laws permit.

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The big story on TRTC is sales! Total revenues generated for the quarter ended June 30, 2018 were approximately $8.7 million, an increase of 11% from $7.8 million in the same period in 2017. This growth was due to revenue generated by the Company’s dispensaries in Nevada, and sales from its Blüm, Santa Ana dispensary in California, which was acquired in September 2017.

2018 has been a big year for Terra Tech; In July the Company sold its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for $6,250,000. To prepare for a ramp in demand as a result of the legalization of adult-use cannabis, Terra Tech continued constructing a 13,000 square foot cultivation facility in Hegenberger, Oakland which has the capacity to produce up to one metric ton, or 2,000 pounds, of cannabis per year. The facility is expected to be fully operational in the third quarter of 2018.

In San Leandro Terra Tech continued construction of a Blüm dispensary and extraction facility, both of which are expected to open in the second half of 2018. Also in Santa Anna the Company received regulatory approval from the City to acquire the cannabis retail permit associated with the dispensary.  Additionally, the Company was granted two permits by the City to operate retail dispensaries on East Dyer Road and Carnegie Avenue.  Terra Tech plans to apply for cultivation, manufacturing and distribution permits at both locations.

The Company’s operations in Nevada continue to advance; Terra Techs four Blüm dispensaries continued to ramp sales to the adult-use market. Following approval from the State of Nevada, the Company commenced cannabis cultivation at its new Sparks facility in July, which was built out in the first quarter of 2018 in conjunction with NuLeaf Sparks. Terra Tech also received final State of Nevada approvals to begin production at its 15,000 square foot cannabis extraction facility in Reno, NV, in July, which was also constructed in conjunction with NuLeaf.

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Currently trading at a $129 million market valuation TRTC has $5.1 million in the treasury, $109 million in assets and huge revenues reporting $17.3 million in sales for the 6 months ended June 30, 2018 up from $14.6 million for the same period last year. Terra Tech carries around $12 million in debt on the books and in the past debt conversions have been common here. TRTC is one of the original pot stocks on the OTCBB with a long history of huge moves when the sector heats up, there is also huge demand for the stock with daily dollar volume always in the millions $.  TRTC is currently trading near its historical lows and is always one good catalyst away from another explosive run like in 2014, 2016 or the end of last year. We will be updating on TRTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TRTC.

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Disclosure: we hold no position in TRTC either long or short and we have not been compensated for this article.

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