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Tuesday, November 29, 2022

GreenGro Technologies, Inc. (OTCMKTS:GRNH) Drops Below a Dime

GreenGro Technologies, Inc. (OTCMKTS:GRNH) has dropped below a dime on decelerating volume as we head into early spring. 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.

On February 13 GRNH announced the grand opening of its newest superstore Vertical Hydrogarden in Orange County, California slated for 4.20.2015 at 1676 W Lincoln Anaheim, Cal 92801. According to CEO James Haas, “It’s been approximately a year since our acquisition of Vertical Hydrogarden. The existing locations offered us little opportunity for expansion and could no longer support our double digit revenue gains each month. This was a logical decision to develop a better working model for future franchise opportunities nationwide.

There are plenty of reasons to believe this will continue in 2015; 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.

GreenGro Technologies, Inc. (OTCMKTS:GRNH) is a holding Company that has acquired a number of different divisions in the medical Marijuana space. The Company owns green houses, and water supply systems that are ideally suited for growing Marijuana.

Back in March GRNH raised $875,000 in a private placement and acquired Vertical Hydrogardens, Inc. a manufacturer and vender of vertical-gardening equipment and supplies. GRNH re opened a retail location which will serve as the initial brick and mortar location for a franchise of stores they want to open.

That same month GRNH also acquired Greensticks, Inc.; a patent pending technology for an electronic vaporizer for Cannbidiol (CBD). Branded as a new way to medicate, Greensticks is a battery powered electronic vaporizer designed to look like an electronic cigarette. The cartridges are filled with 100% organic liquefied flowers and pharmaceutical grade glycol as found in asthma inhalers.

Another devision of GRNH is their subsidary BP Gardens, Inc., of Anaheim, CA. that is focused on hydroponics and builds greenhouse. They currently produce leafy green produce year-round in any climate. They specialize in vertical grow systems that allow you to utilize as much space as possible. This means you can grow more plants than you could using a regular horizontal area as the plants will receive the maximum amount of light needed at all stages of development.

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Earlier this year GRNH announced a multi-stage purchase of construction company Tricor Mechanical Inc., they are a a Southern California based construction company and provider of HVAC systems to commercial, industrial, municipal, and emerging market customers. The agreement provides for Greengro to own 51% of Tricor by the end of 2014, and the remaining 49% within 2 years.

The 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 July GRNH announced an agreement to provide facility design and consulting services for a major planned Arizona medical cannabis cultivation facility. They plan to complete the design phase by the end of Q1 2014 and will begin implementation in Q2 2014 where it will provide all construction services for the grow operation.

GRNH is well position as a supplier, designers and builders of hydroponic systems to cash in on the sector; they own green houses, and water supply systems that are ideally suited for growing Marijuana as new state laws open up. The Company continues to benefit from national media attention such as they recently received after Forbes included them in an article titled ‘ Meet The 8 Hottest Publicly Traded Marijuana Companies”

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Currently trading at a $28 million market valuation GRNH has a history of spectacular moves leading pot stocks with a spectacular move from pennies to $1.20 a share the last time the sector heated up. Everyone knows just have parabolic GRNH can get. Current buyers are biding their time and waiting for a break over $0.24 for confirmation of a real move up. As we head into the season when pot stocks historically heat up GRNH is a stock to watch.

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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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