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Sunday, May 29, 2022

Comeback Time on GreenGro Technologies, Inc. (OTCMKTS: GRNH)

GreenGro Technologies, Inc. (OTCMKTS: GRNH) recently dropped below the $0.01 mark and Investors are becoming anxious. The stock has been on a steady downward trend since January 2018 when it popped to highs near a dime.

Microcapdaily has been covering GRNH for years, back in March 2014 we reported – GreenGro Technologies, Inc. continues to trade just over its 52 week lows of $0.07. The stock has a history of big moves running from pennies to of $1.20 a share this time last year when pot stocks led the small caps. Back in March GRNH said it is open for business ahead of schedule in its new Orange County, California location. Meanwhile, plans continue for the first grand opening event on 4.20.2015 to be followed by additional events, each with different themes, educational classes and a host of different vendors including the full suite of Greengro and Vertical Hydrogardens product line.

GreenGro Technologies, Inc. (OTCMKTS: GRNH) bills itself as a world class provider, of an eco-friendly, green technology with a specific domain in expertise in an indoor and outdoor agricultural science system. Serving both the consumer and commercial farming markets. Greengro sells eco-friendly  greenhouse systems  as  well  as  hydroponic  supplies  through  their retail store in Anaheim, California. The Company was founded back in 1996 as Authoriszor, Inc.

Greengro bills itself as a vertically-integrated provider of eco-friendly state-of-the-art technological solutions to the cannabis industry.  The Company is a trusted partner to the cultivation, extraction, production and retail aspects of the cannabis market through a combination of three operating divisions that encompass extraction, CBD production and Genobreeding development.  Each division is able to leverage the strengths of the other, creating a synergistic, efficient and highly profitable business model.  Additional details can be found by visiting the Company’s website at www.greengrotech.com.

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GRNH shell has been around for years; originally incorporated in Nevada in the 90’s GRNH used to be Authoriszor (AUTH) which was a NASDAQ listed Company until 2002. At the time they developed and supported applications and advanced software products.

In October GRNH announced its wholly owned subsidiary, CBD Ventures has successfully developed a proprietary new breed of Hemp, branded as “Red Blossom, Red Bubblegum and Berry Bubblegum; a finely structured amalgamation of the “Red Cross” and Cherry Blossom and Bubblegum” strands.

“This is a substantial achievement for us. We believe that this is only the beginning. Our vision and GenoBreeding focus is in the creation and distribution of highly refined varieties into the bolstering Cannabis marketplace,” stated GreenGro Technologies Chief Executive Officer, Matthew Burden.

The Company’s signature GenoBreeding operation, an advanced GreenGro initiative, is structured to bring to market a focused evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.

Following a substantial hiatus, the Company has established $750k for the engagement of a new engineering contractor to resume construction on the existing Cathedral City dispensary project. Upon the establishment of additional licensing for delivery and distribution, as final engineering plans materialize, management plans to mobilize by retaining a reputable contractor to conclude the buildout and launch operations. The Company’s provisional licensing has been granted for Micro Business, Dispensary, Delivery, Cultivation, Distribution, and Manufacturing. The Cathedral City territory, strategically located approximately 2 hours from GreenGro’s flagship location in North Hollywood, will be branded and designed to reflect the operational structure of its North Hollywood counterpart, in anticipation of continued regional expansion.

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Currently trading at a $2.7 million market valuation GRNH has $4 million in assets and $8.1 million in current liabilities which has and continues to cause significant dilution. GRNH is one of the original pot stocks that has been around for years and when the sector heats up this used to be one to own; in 2014 in ran from sub pennies to $1.20. The stock recently dropped below the $0.01 mark and Investors are looking for a turnaround. We will be updating on GRNH when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GRNH.

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

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