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Tuesday, November 29, 2022

Where is Support on Green Technology Solutions Inc (OTCMKTS:GTSO)

Green Technology Solutions Inc (OTCMKTS:GTSO) hit the bb’s last November and has been highly volatile since making two separate runs that made explosive moves up but ultimately collapsed.

GTSO has been dropping in recent days and is currently nearing the stocks all-time lows of $1.29. The stock was being promoted by a PPC campaign running on a number of financial related websites which said ‘’Demand drives highest growing US Market; GTSO…Invest Today.

Green Technology Solutions Inc (OTCMKTS:GTSO) provides business support, delivery system products and horticultural technology support, continually introduces new products and services, enabling it to compete amongst other post stocks ”in a booming industry expected to be $10 billion by 2018.”

The Company clearly has no problem touting themselves stating on their website: Why invest in GTSO? MMJ Legalization movement, recreational legalization, massive and growing market, diverse services/products, clarity of vision, strong leadership, motivated team and industry growth could yield massive results.

Back in November the Company announced it has finalized the purchase of emerging horticultural innovator Mother Parker’s Soil, which utilizes the latest technologies in soil preparation to provide consumers with the highest-quality organic-based products.

”The partnership with Mother Parker’s Soil gives GTSO a fast-rising health and wellness company focused on supporting the medical cannabis industry with cutting-edge products, services and processes, provides access to the $390 million U.S. specialty soil market and enables the company to begin making its footprint in the $1.7 billion U.S. medical cannabis space, a market projected to eclipse $10 billion by 2018.”

On April 7 GTSO reported that a distinct shortage of Colorado labs equipped to test adult-use cannabis for contaminants such as bacteria and mold could produce major opportunities for GTSO.

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The Colorado Department of Public Health and Environment (CDPHE) and Marijuana Enforcement Division (MDE) regulate testing in the state. That state gave the green light to the first laboratory certified to begin testing cannabis for contaminants last month. Once enough retail labs are certified, retail marijuana products will start being tested like any other food product. At that point, the state will require the labs to test for E. coli, Salmonella, and three types of mold.

ABC affiliate 7NEWS Denver reported in March that the MDE could not provide a timeline for when containment testing will be mandatory, but said it hopes to start the process soon.

In order to capitalize on the rising demand in Colorado for cannabis testing services, GTSO is seeking out a new permanent location for the Class 5 clean room it acquired last month. The clean room is a germ- and pest-free environment where GTSO can reliably test cannabis products for contamination, potency and breeding, among other measurable attributes.

CEO Wallace W. Browne stated ”One certified lab is hardly going to be enough to satisfy the demands of Colorado’s cannabis industry. Wait times for lab reviews and processing are going to stretch on and on, and costs will rise. Our mission will be to help ease that burden on retailers.”

By establishing a working lab in Colorado capable of testing and demonstrating cutting-edge cannabis products, GTSO expects to help the growing number of cannabis professionals in the U.S. refine their offerings and guarantee product purity and consistency to their customers. The clean room was acquired without a commitment for lease, which was a key consideration for making the deal.

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According to recent filings GTSO has minimal assets, rising short term debt and no revenues to date. The stock is dropping steadily and currently nearing its all-time lows of $1.29 a support level it needs to maintain. We will be updating GTSO as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with GTSO.

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

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