Surna Inc (OTCMKTS:SRNA) has seen a recent increase in price and volume after the stock hit an all-time low of $0.295. SRNA is a stock with a history of explosive moves running from 0.175 to $8.73 before collapsing with the rest of the sector back in March. Now that the entire pot sector is heating up again investors are giving SRNA a second look.
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 represents 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.
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On October 29 SRNA announced 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.
Separately, the Company noted it has upgraded its website, surna.com to a more robust 2.0 which now includes a redeveloped Products & Support section for its high-end commercial product lines
Entrepreneur Magazine, in its October 28 article states, “As legalization slowly but surely spreads across the country, growers will be looking for somewhere to turn to get specialized support, tools and resources for their unique craft. According to Bollich, success in cannabis tech lies in bringing a lot of disparate pieces together, like bioengineering, retail product development and the power of social word-of-mouth, to navigate an entirely new idea.”
The article goes on to say, “Surna’s is a system ‘designed to specifically aid growers in solving their most pressing climate issues for maximum quality and output,’ Bollich said.”
The Huffington Post article, updated October 26, featured Surna’s technological advances in the industry stating, “Since retail sales began in January, the Marijuana Industry Group (MIG) estimates about 10,000 people are employed in Colorado’s marijuana industry, with thousands more being added each month. Behind marijuana production lies technology. Companies like Boulder-based Surna, a manufacturer of disruptive equipment for the cannabis industry, are developing patents to facilitate the aggregation of the industry, leading the way with their own proprietary services.”
“Led by CEO Tom Bollich, a robotics engineer and co-founder of online gaming company Zynga, Surna has developed its own patented water-chilled climate control system designed for large marijuana production facilities… Surna’s ultimate goal is to push the boundaries of the industry itself, maximizing yield and experimenting with different potencies and their health benefits.”
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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SRNA represents a compelling technical setup considering how far this one has dropped since its high of $8.73 in March. Currently trading at a $50 million market valuation SRNA looks as if it might have finally turned around as the entire pot sector heats up again. Speculators are betting $0.295 was the all-time low and reversal point.
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Disclosure: we hold no position in SRNA either long or short and we have not been compensated for this article.