Terra Tech Corp (OTCMKTS:TRTC) has seen a recent massive surge in volume and the stock is taking off north as the entire pot stock sector got a huge boost after GW Pharmaceuticals announced positive Phase 3 trial data for its drug Epidiolex, for the treatment of Dravet syndrome.
The news is a game changer for all pot stocks as it proves that cannabinoids can produce compelling and clinical important data and represent a highly promising new class of medications. As in the past the media went straight to Terra Tech’s Derek Peterson “The Public Spokesperson for Medical and Legalized Marijuana” who stated ‘“It’s exciting to see that clinical data is continuing to show what many patients have been experiencing personally — that cannabis-based medicines are effective.”
Terra Tech Corp (OTCMKTS:TRTC) is a vertically-integrated, cannabis-focused agriculture company that 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.
We have 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.
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.
TRTC subsidiaries include 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.
Another TRTC subsidiary is IVXX Elevate, 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.
IVXX Elevate cannabis is grown and harvested under the safest and most beneficial conditions, free of toxic pesticides, harmful molds and chemical residues. The products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity.
TRTC acquisition of Blum Oakland is a game changer for the Company; Blum Oakland, 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.
On March 3 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.
Currently trading at a $50 million market valuation TRTC has $1.3 minimal in the treasury, manageable debt and significant revenues reporting $7,805,994 in sales for the 9 months ended September 30, 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. The GW Pharmaceuticals news is a game changer for pot stocks and Derek Peterson has skillfully put TRTC right at the center of this phenomenon. TRTC acquisition of Black Oak Gallery, DBA: Blum Oakland, an established, retail medical cannabis dispensary is big news for TRTC and puts the Company in the spotlight as they plan the grand opening in Las Vegas for April 20. When pot stocks heat up TRTC is a great place to be, in the 2014 pot stock rush the stock exploded to $1.50 a share.
Source: Microcap Daily