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Saturday, December 3, 2022

Surna Inc (OTCMKTS:SRNA) Heats Up Fast

Surna Inc (OTCMKTS:SRNA) is the latest penny stock pot stock to catch on fire and explode up the charts in recent days. The stock has a long history of big moves skyrocketing in early 2014 from $0.175 to $8.73.

As pot stocks get hot Investors are giving SRNA a close look; and its easy to see why the pot stock sector is on fire; Four western US states — Alaska, Colorado, Oregon, Washington as well as the nation’s capital Washington D.C. have legalized marijuana for recreational use. An additional 19 states have legalized marijuana for medical use. 2015 was an epic year for the industry; Colorado earned $135 million in taxes and licensing fees on nearly $1 billion in pot sales and the state of Washington took in $70 million on statewide pot revenue totaling $257 million.

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 Stephen Keen, a highly successful lifelong serial entrepreneur and co-founder of Hydro Innovations.

SRNA bills itself as 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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In December SRNA announced it was the recipient of the The Cannabist’s inaugural award for Innovation in the cannabis industry.

The Innovation Award recognizes the cannabis business that has shown the most innovation throughout the industry. Eleven finalists were named to qualify for the award. A judging panel consisting of the cannabis industry’s top influencers, including members from the ArcView Group, Canopy, and WomenGrow, selected Surna as the winner. The Cannabist, The Denver Post’s cannabis-focused reporting arm, held the award ceremony on Dec. 15, in The Denver Post building. The ceremony was also streamed live on The Cannabist’s website.

On April 13 SRNA Reported Full Year 2015 Financial Results. Revenue grew 328% to $7.9 million, compared to $1.8 million, reflecting focused investments in sales and marketing, new product introductions, increased engineering services and greater demand for products as the number of state-legal cannabis markets continues to grow.

Cash, accounts receivable, inventory and prepaid assets at December 31, 2015 were $2.1 million. Deferred revenue was $986,000, up from $408,000. Deferred revenue represents contracts that are in progress, as the Company does not recognize revenue until the equipment is shipped or services are performed.

According to CEO Stephen Keen, “2015 was a transformational year for Surna as we built a stronger foundation on which to grow the business. Focused on establishing Surna as the leading supplier for cannabis cultivation equipment in the U.S., we continue to introduce ground-breaking technology such as the Surna Reflector and our hybrid building design. In 2016, we intend to expand our product commercialization efforts.”

 

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Currently trading at a $11.4 million market valuation SRNA is the latest pot stock to explode up the charts on significant volume. While the Company has just $300k in the treasury revenue growth has been spectacular growing  328% to $7.9 million, compared to $1.8 million last year. SRNA is an exciting story in small caps; the Company bills itself as a pure play on explosive growth in the cannabis industry, has a history of explosive moves in the past and are masters at selling the sizzle on the sector successfuly getting its name into the mainstream media in the recent past. 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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