Comeback Time for Terra Tech Corp (OTCMKTS:TRTC)

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Terra Tech Corp (OTCMKTS:TRTC) is moving up steadily since reversing off lows just over $0.20 a share. The stock saw a parabolic rise earlier this year tearing up the charts to highs of $0.7455 as pot stocks heat up across the board.

TRTC is easily one of the most exciting stocks on the OTC with a long history of spectacular moves skyrocketing to $1.25 during the last pot stock boom. When pot stocks heat up TRTC is a great place to be; they are masters at selling the sizzle on the pot sector and getting themselves featured by mainstream media such as the April 23 article on Forbes.

Terra Tech Corp (OTCMKTS:TRTC) is one of the original pot stocks on the OTC led by Derek Peterson “The Public Spokesperson for Medical and Legalized Marijuana.” TRTC is the only US-based, publicly-traded company that touches every aspect of the cannabis lifecycle—from cultivation, to extraction, to branding, and now, with the acquisition of Blum, to retail sale.

MCP has been covering TRTC for years; the Company was initially incorporated as Private Secretary, Inc. on July 22, 2008 in the State of Nevada. The Company planned to develop a software program that would allow for automatic call processing through VoIP technology. On January 27, 2012, the Company filed an amendment to its Articles of Incorporation changing its name to Terra Tech Corp and a new pot stock was born.

Derek Peterson is a former Vice President at Morgan Stanley. He left Wall Street because he saw a huge opportunity in medical marijuana. His vision is setting up growing facilities in various states to grow herbs such as basil and thyme with plans to switch to Marijuana production as state laws permit.

TRTC has a number of subsidiaries including Edible Gardens which was established in 2007 and proves fresh, locally grown herbs and leafy greens to supermarkets, restaurants and the food service industry. The growing process utilizes time-tested, classic Dutch hydroponic farming methods to grow produce in a safe and healthy environment.

IVXX Elevate is a TRTC subsidiary focused on building a recognizable, superior brand that delivers unsurpassed quality and consistency to consumers of recreational and medical cannabis throughout the legal U.S. markets. TRTC recently launched a new line of pre-filled, IVXX-branded medical cannabis cartridges. An initial order for approximately $170,000, or 10,000 units, has been received from one of Terra Tech’s distributors. This is the first of multiple cartridge lines, each containing varying percentages of cannabinoids, to be launched over the next four months.

The cannabis oil cartridges will offer a variety of cannabis strains of varying potencies in easy-to-use, convenient cartridges designed for use in vaporizers. Made from local, sustainably grown cannabis that has been cleanly extracted using a supercritical CO2 method, the oil is lab-formulated for consistency, and lab-tested for purity and potency. Terra Tech manufactures the pre-filled cartridges at its IVXX Extraction Lab, and will distribute them via its existing distribution network and retail locations.

TRTC has an agenda to move to a higher exchange which may necessitate a reverse split. Everyone seems to think that RS is bad and usually results in lower PPS as the result of panic selling etc., but if we really examine the issue we come to an entirely different conclusion. Yes in almost all cases when a non-revenue, sub penny co with a history of dilution does another RS it almost always ends in more downside. At the other end of the spectrum when an established Company such as TRTC that already does significant revenues does a RS it almost always results in significant moves to the upside.

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Back in March TRTC announced record revenues for the year ended 2015. Total revenues generated for the quarter ended December 31, 2015 were approximately $2.17 million, an increase of 44% from $1.5 million in the same period in 2014; total revenues for the full year 2015 were $9.98 million, an increase of 40.6% from $7.09 million in the year ended December 31, 2014.

TRTC also provided revenue guidance for 2016 calling for $20 million to $22 million. Driving this growth is TRTC’s recently completed acquisition of Black Oak Gallery, DBA: Blüm Oakland, an established, retail medical cannabis dispensary in Oakland, CA. Blüm Oakland, which holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day.

A big part of TRTC recent rise is due to their recent acquisition of Black Oak Gallery, DBA: Blum Oakland, an established, retail medical cannabis dispensary in Oakland, CA which holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day. The acquisition includes Blum’s fully integrated supply chain, which consists of a sophisticated onsite cultivation facility, its portfolio of proprietary strains, as well as its high volume retail storefront. Trailing 12-month non-GAAP revenue for Blum Oakland is over $14 million, which tracks the revenue reported by Blum Oakland in its associated sales tax and marijuana tax reporting and payments.

In March TRTC announced the Grand Opening of its medical cannabis dispensary located at 1921 Western Avenue in Las Vegas, Nevada will be held on April 20, 2016. Located adjacent to the Las Vegas Strip, the Western Avenue dispensary will offer patients the Company’s proprietary IVXX™ brand of premium medical cannabis, including flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical cannabis. The 3,900 square foot facility is located adjacent to the Las Vegas Strip at 1921 Western Avenue and is expected to benefit from the heavy traffic in Las Vegas.

Western Las Vegas is the first of four retail medical cannabis dispensaries slated to open in Nevada in 2016. Three of those, operating under the store name Blüm, will be in Southern Nevada, on Western Avenue, Desert Inn Road near the Las Vegas Convention Center, and Decatur Boulevard. The fourth is to be located in Reno, in Northwest Nevada. All locations are expected to open in time to take advantage of the very active summer tourism season in Nevada.

Earlier this month TRTC said it has had its final business license approved by the Las Vegas City Council. The Company now possesses all the permits issued by the City of Las Vegas necessary to operate this medical cannabis dispensary. The Company is still awaiting final issuance of the State Registration Certificate from the State of Nevada, which is expected to be issued upon completion of the State of Nevada’s operations inspection. The Grand Opening of the dispensary was held on April 20, 2016 although the Company has not yet issued a pr on the opening.

Clearly TRTC plans to franchise the Blum name nationwide. TRTC director Mike Nahass has purchased a number of domain names such as BLUMCHICAGO.COM, BLUMMANHATTAN.COM, BLUMHOUSTON.COM, BLUMSANDIEGO.COM, BLUMNJ.COM, BLUMNY.COM, BLUMMIAMI.COM as well as dozen more

Nevada is an important market for the cannabis industry as the state will recognize the medical status of non-residents. Nevada also has around 40 million annual visitors with 30% of those coming from California. Recreational marijuana use will be on the Nevada ballot box come November.

On May 23 TRTC announced its subsidiary, Edible Garden, a retail seller of locally grown hydroponic produce, herbs, and floral products, has shipped its first order of nutritionally-enhanced lettuce to ShopRite Supermarkets.  The lettuce was developed in partnership with Nutrasorb LLC under the name SUPERLEAF™, in conjunction with Rutgers University, and is the latest addition to Edible Garden’s product line of non-GMO fruits and vegetables.

Edible Garden grows and sells two product lines under the SUPERLEAF brand: the Living Salad Mix, a living salad blend high in nutrients, and the fresh cut, ready-to-eat SUPERLEAF Spring Mix.  These lettuces are high in vitamins A & C, magnesium, iron and potassium contents. These nutritionally-enhanced, proprietary Green and Red Lettuces were developed by scientists at Rutgers University following years of intensive research and have high levels of fiber and chlorogenic acid. One serving of lettuce contains 2.5x as many antioxidants as blueberries, helping to maintain metabolic health and wellness. These lettuce super blends are grown 100% naturally and are non-GMO Project verified.

It is easy to see why pot stocks are on fire again; 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.

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Currently trading at a $121 million market valuation TRTC is the only US-based, publicly-traded company that touches every aspect of the cannabis lifecycle—from cultivation, to extraction, to branding and to retail sale. This gives TRTC a huge advantage because on-site cultivation reduces that cost to about $700 per pound, while the company’s retail price will remain at industry levels 5 to 10 times higher. TRTC is turning into a Revenue leader reporting $9.98 million in sales for 2015. Derek Peterson “The Public Spokesperson for Medical and Legalized Marijuana” is a master at selling the sizzle on the sector and getting their story into the national media spotlight with such news outlets as the Wall Street Journal, National Geographic, Fox Business News, The Huffington Post, the Daily Telegraph and CTV news all covering TRTC in the past. When pot stocks heat up TRTC is the place to be. We will be updating on TRTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with TRTC.

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

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5 Comments

  1. Did TRTC not close red 10 days in a row, before one .02% gain on Friday, 5-20-2016? Am I wrong on that?

    This article says “TRTC moving up steadily”????

    WHEN? Where?

    In a alternate universe? And this was published today??

    Things that make you go Hmmmmm..

  2. DRW: article clearly says “Terra Tech Corp (OTCMKTS:TRTC) is moving up steadily since reversing off lows just over $0.20 a share.

    And that is exactly what it has been doing,.

  3. The “Problem” with the Reverse Split possibility that the author negligently dismisses, is that it is a huge problem for common holders.

    The Class “B” preferred shares that are held by key people “will not be adjusted” for a reverse split.

    As a rough example of what is likely to happen is — current Class B Preferred will convert to approx. 75 million shares. Not a big deal with $343 million outstanding, or roughly 22% of company.

    After a 1 for 3 Reverse Split. The “B” preferred do not split —so the the 343 mil common shares becomes approximately 100 mil and Class “B” preferred shares still convert to 75 million for a total of approximately 175 million shares now outstanding. So Management is able to approx. double its ownership of the company in this example.

    Super Shady!!!

  4. Jack Devereaux on

    In the preliminary proxy I didn’t see reference to class B not being included in the split, and not 3/1 but this was stated: not less than one-for-five and not more than one-for-twenty

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