CEA Industries Inc. - CEAD STOCK NEWS

CEA Industries Inc. (NASDAQ: CEAD, CEADW) will hold a conference call on November 14, 2022, to discuss its third-quarter results for the period ending September 30, 2022. Management will lead the call, which includes a question-and-answer session. Interested parties can participate by dialing 1-973-528-0008 with access code 712632 or through a webcast available on the company's website starting November 15, 2022, at 5:00 p.m. ET. CEA Industries, based in Louisville, Colorado, focuses on controlled environment agriculture.

Surna Cultivation Technologies has expanded its offerings to include water treatment solutions aimed at enhancing crop health and sustainability. This new service includes comprehensive systems tailored to the specific needs of cultivators, such as water sampling, system design, and integration. Surna's solutions utilize technologies like Reverse Osmosis and Ultraviolet treatment to ensure clean water, crucial for cultivation. With over 16 years in the industry, Surna aims to optimize water efficiency for over 800 customers.

Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), announced an expansion of its offerings to include water treatment solutions. Recognizing the diverse water chemistries across regions, Surna aims to provide tailored purification systems for cultivators. Their services encompass water sampling, system design, equipment supply, and integration. Utilizing technologies like Reverse Osmosis and Carbon Filtration, Surna promotes financial and environmental sustainability through effective water conservation solutions.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) has announced a new contract signed by its subsidiary, Surna Cultivation Technologies, with a client of partner Merida Capital Holdings. This contract adds to Surna's backlog, which totals $9.7 million as of August 11, 2022. Surna will provide HVAC systems including EnviroPro air handlers and dehumidifiers for this Connecticut-based client. The CEO expressed optimism about advancing the partnership with Merida, highlighting successful past engagements.

Surna Cultivation Technologies has announced its participation in several upcoming indoor agriculture conferences. The events include the Lucky Leaf Expo in Albuquerque, NM on October 21-22, CEA Summit East on October 25-26 in Danville, VA, and the Resilient Harvests Conference in San Diego, CA on November 1-2. They will also exhibit at the MJBiz Conference in Las Vegas, NV from November 16-18.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced the adjournment of its 2022 annual meeting of stockholders to October 6, 2022, due to insufficient quorum on August 29. As of now, 44.512% of eligible shares had been voted, with 41.418% in favor of the adjournment. The Company encourages shareholders, especially those holding through brokerages, to vote their shares to ensure participation. Key proposals include the election of five director nominees and the selection of Sadler, Gibb & Associates as the independent auditors for the fiscal year ending December 31, 2022.

Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), is set to participate in several key trade conferences in August and September 2022. These include the Cannabis Conference in Las Vegas from August 23-25, CannaCon in Chicago on August 27-28, and the Benzinga Cannabis Capital Conference on September 13-14. These events aim to enhance industry knowledge and facilitate networking opportunities for cultivators and investors.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported a revenue of $3.0 million for Q2 2022, down 33% year-over-year, attributed to supply chain issues. Despite a 73% increase from Q1 2022, gross profit fell to $306,000 with a gross margin of 10.2%, down from 28.4% in Q2 2021. The company incurred a net loss of $1.8 million compared to a profit in the previous year. However, net bookings rose 67% to $1.5 million, and backlog increased 21% to $9.7 million. Management remains optimistic about growth initiatives and has a backlog of $10 million expected in the next 18 months.