Terra Tech Corp (OTCMKTS:TRTC) is back at $0.25 where it started before the run up with the rest of the pot sector took the stock over $0.50. Everyone remembers the run TRTC made the last time the sector heated up running from around $0.30 to a high of $1.42.
TRTC began its days as a stock promotion and was covered by every newsletter in the book in the early days. At some point however the stock got caught up in the pot boom and took on a life of its own making a spectacular run to $1.42.
There are plenty of reasons to gets excited about pot stocks here; according to a recent report from MMJ Business Daily, 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.
Terra Tech Corp (OTCMKTS:TRTC) manufactures state-of-the-art growhouse equipment that is now sold word-wide through its subsidiary GrowOpTechnology Ltd. Through its own growing facilities and its alliance with hydroponic farmers the Company sells its Edible Garden produce to supermarkets such as Demoulas and Shoprite supermarket in states such as New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
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.
The Company is run by Derek Peterson 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.
According to online sources Derek Peterson and his wife Amy Almsteier were charged with accepting illegally issued securities and selling these shares. This followed Petersons filing for personal bankruptcy.
As Derek Peterson recently remarked “I am happy to slow down growing thyme and oregano,” if the policy world tilts towards marijuana legalization.”
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Terra Tech believes that the future of Cannabis farming is going to be done inside of commercial-scale, Dutch hydroponic-style greenhouses, using energy from the sun in combination with other technologies. The Company has been busy strategically expanding the Dutch System in key states where legalization is likely. Once it has TRTC will be in a position to cash in.
Back in March TRTC announced they are developing a research and industrial extraction facility focused on the medical cannabis market. The facility was built in response to what the company views as an increase in demand for high grade CBD as well as other cannabis extracts. On September 9, 2014 the company’s Board of Directors unanimously voted to allow the company to engage in the production, extraction and retail sale of medical cannabis if done so in full accordance with the state and local medical marijuana laws(ordinances) in which they operate. This allows the company’s executive team to transparently operate in the medical cannabis market.
The Company recently announced that they have completed testing and formulating compounds at their cannabinoid extraction facility in Northern California and are now moving into production. The company will be producing a variety of oils, waxes and other mediums of concentrated cannabinoids
Much of TRTC success in terms of volume and price movement has been their ability to get 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 new all featuring the TRTC story.
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Currently trading at a $47 million market valuation TRTC does have $3.5 million in the treasury and is already doing millions in revenues and if the Company is able to fill their significant facilities with growing Cannabis as planned sales could really jump. That however is a long way off and for now TRTC continues to lose money and cover that loss with paper which is not a good combination at all. TRTC is lucky to be at the forefront of one of the fastest growing sectors to come around in a long time, what they do with this opportunity remains to be seen.