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Sunday, November 27, 2022

Riding the Surna Inc (OTCMKTS:SRNA) Express

Surna Inc (OTCMKTS:SRNA) continues to move lower in recent days since topping out at $0.25 a share earlier this month.

On August 17 SRNA announced financial results for the three and six months ended June 30, 2015: For the six months ended June 30, 2015, the Company reported gross revenues of $2,548,845 compared to $346,559 for the same period in 2014, an increase of 635%. Revenues for the three months ended June 30, 2015 were $1,677,950, up from $870,895 in the previous quarter, and more than quadruple the $346,559 in revenue during the same period in 2014.

Similarly, deferred revenue increased to $1,423,321 from $408,199 at year end, a 249% increase. Deferred revenue represents contracts that are in progress, as the Company does not recognize revenue until the contract is completed.

Surna continues to move toward profitability. The net loss for the three and six months ended June 30, 2015 was $976,610 and $2,395,053, respectively compared to $2,121,567 and $2,175,174, respectively for 2014.

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 $18 million market valuation SRNA has little assets and growing short term debt. But this is an exciting story developing in small caps; the Company just announced gross revenues of $2,548,845 for the six months ended June 30, 2015, up 635% from last year and they boast a fast growing and loyal shareholder base how supports it. 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.

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