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Terra Tech Corp. (OTCQX:TRTC) announced an agreement to monetize its investment in Hydrofarm Holdings Group, Inc., generating gross proceeds exceeding $40 million. Originally investing $5 million in November 2018, the company noted that this non-dilutive capital infusion significantly boosts its financial position. CEO Frank Knuettel highlighted operational reviews and asset divestments, including a recent $900k improvement from selling a Las Vegas property. The transaction allows for an expansion strategy in California, Nevada, and Oregon, with anticipated acquisitions and organic growth.
Terra Tech Corp. (OTCQX: TRTC) has announced its acquisition of SilverStreak Solutions Inc., a leading cannabis delivery service in the Sacramento area. This transaction aims to enhance Terra Tech's direct-to-consumer operations leveraging SilverStreak's established market presence, which includes 22 vehicles and approximately 42,000 customers monthly. The integration is expected within 90 to 120 days, with SilverStreak's CEO consulting during the transition. Terra Tech plans to expand operations statewide, accessing a broader consumer base across California.
Terra Tech Corp. (OTCQX:TRTC) announced the sale of its non-operating N. 4th Street property in Las Vegas for $2.6 million. After settling a $1.6 million mortgage and related expenses, the sale results in a $900k improvement to the company’s balance sheet. This divestment alleviates ongoing costs associated with the property, allowing Terra Tech to focus on future opportunities, including the anticipated acquisition of Unrivaled. The transaction is expected to close by early August 2021.
Terra Tech Corp (OTCQX: TRTC) will present at the LD Micro Invitational XI investor conference, scheduled for June 8-10, 2021. CEO Frank Knuettel II will deliver a virtual presentation on June 10 at 1:00 p.m. Eastern Time, via Track 3. Investors can access the live audio webcast and archives through the provided link. Terra Tech focuses on the cannabis sector, operating dispensaries and cultivation facilities in California and Nevada. For more details on the conference or to register, visit the LD Micro website.
Terra Tech Corp. (OTCQX:TRTC) announced its financial results for Q1 2021, reporting revenues of $5.1 million, a 41.7% increase compared to Q4 2020, and a 26.3% rise year-over-year. The company noted consistent growth in its dispensaries, achieving high sales in April. However, SG&A expenses surged by 65.4% to $14.1 million due to restructuring costs. Despite an improved net loss of $12.1 million ($0.05 per share), stockholders' equity decreased from $70.1 million to $63.7 million.
Terra Tech Corp. (OTCQX:TRTC) will announce its financial results for Q1 2021 on May 17, 2021. A conference call is scheduled for 4:30 PM ET that day to discuss the results and business highlights. Interested parties can join via a toll-free number or listen to a live webcast on the company's website. Terra Tech operates within the cannabis sector, having multiple dispensaries and cultivation facilities in California and Nevada.
Terra Tech Corp (OTCQX: TRTC) announced the appointment of Tiffany Davis to its Board of Directors. With over 20 years in finance, particularly in the cannabis sector, Davis brings extensive experience in M&A, operations, and corporate governance. Currently CEO and CFO of Generation Alpha, she has a history of supporting cannabis startups and executing major financial projects. The company aims to leverage her expertise to enhance operational management and governance. Davis expressed enthusiasm about contributing to Terra Tech's growth strategy.
Terra Tech Corp. (OTCQX:TRTC) reported its Q4 and 2020 fiscal results, reflecting a challenging year. Revenue declined to approximately $14.29 million from $16.49 million in 2019, primarily due to a $5.98 million drop in dispensary sales linked to COVID-19 and civil unrest. Gross profit also fell to $3.60 million with a gross margin of 25.2%. Despite these setbacks, new CEO Frank Knuettel highlighted plans for growth, including an acquisition of Unrivaled, aiming for combined 2021 revenues exceeding $70 million.
Terra Tech Corp. (OTCQX:TRTC) is set to report its financial results for the quarter ending December 31, 2020, on March 30, 2021. A conference call is scheduled at 4:30 PM ET on the same day to discuss these results and key business highlights. Interested parties can join the call via toll-free or international numbers, or access a live webcast through Terra Tech's website. The company operates in the cannabis sector with facilities in California and Nevada, focusing on cultivation and dispensary operations.
Terra Tech Corp (TRTC) announced its acquisition of UMBRA, Inc. (rebranded as Unrivaled) in an all-stock transaction, aiming for vertical integration and geographic expansion in the cannabis sector. Unrivaled features a strong portfolio of brands, including Korova, and operates a vast distribution network with over 700 dispensaries across California and Oregon. The merger is expected to generate revenues exceeding $70 million in 2021, enhancing Terra Tech's scalability and market presence.
