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Saturday, November 26, 2022

Red Days for Surna Inc (OTCMKTS:SRNA)

Surna Inc (OTCMKTS:SRNA) continues to drift lower in recent days as it nears closer to its 52 week lows of a dime. The stock recently popped after a number of online newsletters covered the stock and sent it to their followers. There were also paid guys posting on IHUB.

SRNA hit the bb’s in March of last year at just under $1 a share and made a memorable run to highs over $8. It has been dropping steadily since then.

Surna Inc (OTCMKTS:SRNA) mission is to acquire intellectual property and scalable operating companies in the nascent, legal marijuana industry with a focus on disruptive technology, equipment and related support services. The young Company is led by Tom Bollich, the visionary technologist who co-founded famed gaming company Zynga which ultimately rose to a $10 billion market valuation.

The Company says they represent a pure play on explosive growth in the cannabis industry, while being agnostic as to the escalating proliferation of regulated, commodity cannabis growers & sellers, winners or losers; its business model excludes the production or sale of marijuana. ArcView industry research projects the highly fragmented $2.3 billion US cannabis industry will increase over four-fold to $10.2 billion by 2018.

Surna has been very successful in getting its name into the mainstream media; in October of last year they said multiple, major media organizations outlets — including Entrepreneur Magazine and Huffington Post — have featured Surna and its role as a technology leader in the legal cannabis industry.

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Surna has been very successful in getting its name into the mainstream media; in October of last year they said multiple, major media organizations outlets — including Entrepreneur Magazine and Huffington Post — have featured Surna and its role as a technology leader in the legal cannabis industry.

On March 10 SRNA said over the course of the next two weeks, it will ship the beta version of its groundbreaking Surna Reflector.

Surna will release 50 of its energy saving light Reflectors for beta testing amongst various high-end commercial cannabis cultivation facilities and industry consultants between multiple states that have state-approved cannabis cultivation (including Colorado and Washington).

The Reflector has three design configurations: vented, forced-air, and liquid-cooled. The engineering within the reflector provides cannabis grow operations with technologically superior heat transfer and light on target capabilities, resulting in substantial reduction in energy consumption and substantially lower operating expenses. All 50 beta units shipping in this round will be of the liquid-cooled variety.

According to SRNA last 10Q the Company has around $200,000 in the treasury with little debt. They recorded their first ever revenues in 2014 reporting $346,559 in sales for the quarter ended June 30, 2014.

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Currently trading at a $15 million market valuation SRNA did report $1,206,047 in sales for 2014 however they filed an NT 10K on April 1 so we don’t know all the numbers yet. The stock was recently featured by a number of newsletters but has been dropping since then. We will be updating SRNA as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with SRNA.

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

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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