Terra Tech Corp (OTCMKTS:TRTC) continues to trade significantly off its recent highs over $0.50 per share and some suspect it might once again test the bottom of its range at $0.25 support. The stock made a big run up earlier this year to highs over $1.25 that many investors bought into. Since then it has dropped seeing a recent low of $0.21 which it has been moving up off of.
The Company manufactures state-of-the-art growhouse equipment that is now sold word-wide. Their Edible Garden produce is sold to supermarket chains SHOPRITE HOLDINGS LT (OTCMKTS.SRHGF) Food Emporium, Demoulas and others in New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
Terra Tech Corp (OTCMKTS:TRTC) believes that the Dutch hydroponic System is the wave of the future and the Company has been building up their business along this model since day one. The Company is building the infrastructure now throughout the US, which will then ultimately serve a much more lucrative $100 billion per annum (estimated) American market for cannabis.
Earlier this year TRTC announced a distribution agreement with Sunshine Growers of Lakeland, Florida. Under the agreement, Sunshine will cultivate the full line of hydroponically-grown Edible Garden produce for distribution to Tampla, Orlando and South Florida.
Of particular importance to TRTC is Sunshine’s 10-acre grow facility. This includes TRTC other facilities in New Jersey and Indiana, which contain five acres and 30 acres, respectively. If the Company were to plant these facilities with Cannabis as they have planned the revenues potential could go into the hundreds of millions.
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TRTC continues to benefit from features in main stream media which has included coverage over the past 2 years from news sources such as the Wall Street Journal, National Geographic, Fox Business News, The Hugginton Post, the Daily Telegraph and CTV news.
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Through its wholly-owned subsidiary GrowOp Technology, Terra Tech Corp (OTC: TRTC) specializes in controlled environment agricultural technologies. The company integrates best-of-breed hydroponic equipment with proprietary software and hardware to provide sustainable solutions for indoor agriculture enterprises and home practitioners.
TRTC works closely with expert horticulturists, engineers, and plant scientists to develop and manufacture advanced proprietary products for the fast-growing urban agricultural industry as well as individual hobbyists. Their products are utilized by Fortune 500 companies, small urban farmers, home enthusiasts, and traditional greenhouse growers. Their complete product line is available at specialty retailers throughout the United States, and via our website. Terra Tech Corp was incorporated in July 2008 in the State of Nevada; its subsidiary GrowOp Technology was founded March 2010, in Oakland, California.
On August 19, TRTC announced their subsidiaries MediFarm, MediFarm I and Medifarm II have submitted their applications to operate Medical Marijuana Enterprises (MME) to the state of Nevada. The following summarizes the applications:
Clark County Nevada: Dispensary on Decatur Blvd, Dispensary on Dessert Inn Rd, Cultivation on Gary Ave, Production on Gary Ave
City Of Las Vegas: Dispensary on Western Ave
Washoe County: Dispensary on S. Virginia St, Cultivation on Pyramid Way, Production on Pyramid Way
The Company has already received a special use permit for a cultivation and production facility in Clark County, Nevada and has already submitted its applications for both a special use permit and compliance permit to the City of Las Vegas. Terra Tech has received notice by the City that they are scheduled to appear on the September 30th planning commission agenda. The company submitted their state applications to operate dispensaries within Clark County. If MediFarm is ranked well by the State, and any of the 18 selected by the County are not it potentially creates another opportunity for the company within the County.
According to the last Q filed by the Company they continue to maintain a strong cash position of $2,674,101 in the treasury. Revenues remain healthy with the Company reporting $3,711,801 in total sales for the 3 months ended June 30, 2014. This is up from $665,365 for the same period last year.
Conclusion: TRTC is a great barometer of the Marijuana industry in general and has a history of making highly explosive moves when the industry heats up. Currently trading at a $90 million total market valuation the Company is already doing millions in revenues and if the Company is able to fill their significant facilities with growing Cannabis as planned sales could easily jump 10 fold.
The sector should get a boost from Marijuana being legalized in Alaska, Oregon and Washington DC (already legal in Colorado and Washington) and the resulting massive publicity on the multi-billion dollar fledgling industry.
Back in March TRTC ran from $0.25 to $1.25 and doubled again in anticipation of November. If pot stocks heat up again TRTC deserves to be at the top of investors radars.
Disclosure: we hold no position in TRTC either long or short and we have not been compensated for this article.