Terra Tech Projects $20-22mm Sales in 2016


Terra Tech (OTC: TRTC), one of the more actively traded public cannabis companies, filed its 10-K with the SEC and reported a year-end review and outlook after the close. The company operates within and outside the cannabis industry, and the vast majority of its 2015 sales were from its Edible Garden produce division.  Of the approximately $10mm in sales, cannabis products (IVXX distributed in California) accounted for $1.2mm.

TRTC has provided guidance for 2016 that suggests sales will increase to $20-22mm, though the majority of that growth will come from the pending acquisition of Black Oak Gallery, DBA: Blum Oakland, an established retail medical cannabis dispensary in Oakland, CA.

As of March 24th, which, the company reported approximately 463mm shares outstanding (including convertible preferred stock and warrants), giving the company a market cap of $136mm at today’s closing price of $0.293. The purchase of Blum, which is expected to close on 3/31, will add substantially to the share-count.

TRTC stock suffered a big reversal in trading today after having set a 52-week high in the prior session, though even after the decline is still up 215% year-to-date:

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Breaking News by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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