GreenGro Technologies, Inc. (OTCMKTS:GRNH) has continued to move lower in recent months. The last time the stock popped was after the Company announced it has signed a definitive agreement on a ten-acre, $25 million Greengro hydroponic indoor farm project with Global Renewable Resources, LLC.
GRNH has a long history of spectacular moves up running to $1.20 in 2014 during the last pot stock boom. The Marijuana industry has quickly turned into a multi-billion dollar massive growth market that is sweeping across the US and Canada with many new states legalizing the drug including California, Nevada, Maine, and Massachusetts on November 8. Medical marijuana products in the U.S. alone are projected to generate an estimated $30-35 Billion in revenue by 2020.
GreenGro Technologies, Inc. (OTCMKTS:GRNH) is a holding Company that has acquired a number of different divisions in the medical Marijuana space. The Company owns green houses, and water supply systems that are ideally suited for growing Marijuana.
Back in March GRNH raised $875,000 in a private placement and acquired Vertical Hydrogardens, Inc. a manufacturer and vender of vertical-gardening equipment and supplies. GRNH re opened a retail location which will serve as the initial brick and mortar location for a franchise of stores they want to open.
That same month GRNH also acquired Greensticks, Inc.; a patent pending technology for an electronic vaporizer for Cannbidiol (CBD). Branded as a new way to medicate, Greensticks is a battery powered electronic vaporizer designed to look like an electronic cigarette. The cartridges are filled with 100% organic liquefied flowers and pharmaceutical grade glycol as found in asthma inhalers.
Another devision of GRNH is their subsidary BP Gardens, Inc., of Anaheim, CA. that is focused on hydroponics and builds greenhouse. They currently produce leafy green produce year-round in any climate. They specialize in vertical grow systems that allow you to utilize as much space as possible. This means you can grow more plants than you could using a regular horizontal area as the plants will receive the maximum amount of light needed at all stages of development.
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The shell has been around for years; originally incorporated in Nevada in the 90’s GRNH used to be Authoriszor (AUTH) which was a NASDAQ listed Company until 2002. At the time they developed and supported applications and advanced software products.
On May 9 GRNH announced they have established $4.4 Million in funding to facilitate the build out of a second Marijuana Dispensary in North Hollywood. Set approximately 2 hours from Greengro’s flagship location in North Hollywood, Cathedral City’s operation will be strategically designed to reflect the brand and operational structure of its North Hollywood counterpart, in anticipation of continued regional expansion.
The necessary Conditional Use Permit has been granted, and the Company plans to begin construction in mid-June with expected completion by early fourth quarter, 2017. “The ability to move forward on this undertaking is filled with excitement and anticipation. We can’t wait to break ground” stated James Haas, Chief Executive Officer, Greengro Technologies. The Company plans to have the build-out completed by Sept 2017, in time for an anticipated October 1 [st]Grand Opening. Greengro Technologies, Inc. recently announced that the Company has established the funding required to initiate the building of a new IGOT420 Marijuana Dispensary and Gro in North Hollywood. All licensing and permitting has been secured, and terms on regulation compliant property have been solidified The dispensary will be the flagship location for the launch of Greengro’s GenoBreeding operation, an advanced Greengro initiative to bring to market an evolution of refined cannabis varieties through the incorporation of modern plant breeding technologies.
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Currently trading at a $17 million market valuation GRNH has little assets or revenues and rising short term debt that has resulted in dilution over the years. But GRNH is one of the original pot stocks that has been around for years and when the sector heats up this is one to own; in 2014 in ran from sub pennies to $1.20. GRNH is set up perfectly to cash in on the coming Marijuana boom, these guys sell picks and shovels in the gold rush and the ten-acre, $25 million Greengro hydroponic indoor farm project adds a lot of fuel to the fire here. We will be updating on GRNH when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GRNH.
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Disclosure: we hold no position in GRNH either long or short and we have not been compensated for this article.