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•PR•Investors warned:Cannabis operations to remain NOT-FOR-PROFIT until 2018!
Despite being funded by shareholders, TRTC's only active cannabis operation - IVXX - will be prohibited by law from generating and disbursing profits until after 2018.
This is a publicly traded NOT FOR PROFIT company. It sounds crazy because it is.
With TRTC's deficit approaching $50,000,000 and no way to fund operations including the NV build out, massive dilution is on the horizon. With this news, an increase to authorized shares is more likely than ever. This will bring the carnage folks.
Please - BE CAREFUL.
CONSUME INFORMATION WISELY.
lol I wish, but I'm afraid not. Nothing has changed. The one thing the PR indicated that some shareholders likely didn't realize is that TRTC's only active cannabis related operation will continue to operate on a NOT FOR PROFIT BASIS until at least 2018...if it survives that long.
Aside from the promo pop, there will be no change in the trajectory. Without positive fundamental developments from which shareholders can actually benefit, TRTC pps will continue to struggle. There's no magic here - it's all quite simple.
This pop will serve as another perfect example of why we ALWAYS SELL THE HYPE.
CONGRATS TRADERS!
Typical PR fueled pop and drop. Don't get trapped folks. No positive fundamental change and news of more shareholder dollars spent on not for profit operations means this is like every PR pop that's come before it. Exits between .098-.104 are golden.
Congrats traders!
So another PR touting non profit operations funded by shareholders?!
lol Unreal. A publicly traded non profit lol
FABRICATED HYPE
It's literally all this stock survives on.
Be careful folks. CONSUME INFORMATION WISELY
FABRICATED HYPE
It's literally all this stock survives on.
Be careful folks!
lol Even if that were true (it's not), it's still irrelevant. TRTC told shareholders the property was acquired for "consideration" of $344k, when OFFICIAL RECORDS INDICATE "CONSIDERATION" of $10. So that leaves us with one of two conclusions: either TRTC misrepresented the facts to shareholders, or TRTC misrepresented the facts to local government. IN ANY EVENT, it is clear that an effort was made to convolute the details of this transaction.
lol I figured we all understood the difference between common and preferred stock, especially with respect to which of the two he can just DUMP on shareholders whenever he wants.
My bad.
He dumped half of his common stock. I'm not sure how there could be an confusion with respect to this. There is no need for further explanation. CFO saves shareholders over 400,000 dollars by cashing in his bonus for 49,000.
What we do need an explanation for is this absurd statement:
LOL WHAT?!
lol Common stock. More importantly I'd love an explanation as to how this works:
CFO saves shareholders over 400,000 dollars by cashing in his bonus for 49,000.
lol That makes absolutely no sense. No sense whatsoever at all. It also has nothing to do with the CFO dumping half of his stock.
TRTC CFO DUMPS NEARLY 50% OF HOLDINGS
Folks, when the Chief FINANCIAL Officer of a company determines that it's time to sell most of his (FREE) shares, investors are getting what is likely to be the most dependable sign of things to come they will ever witness. No technical signal, no expert analysis and certainly no fabricated hype is as valuable of a clue as a CFO dumping his shares is.
There should be no surprise when TRTC establishes new lows in the near future; the stock is tremendously overvalued and the company's own CFO is acting on that fact, loud and clear.
Reality pays the bills, not hype.
CONSUME INFORMATION WISELY
Looking exceedingly weak. Was expecting a trade here today, but nobody is interested.
I guess they don't call it the worst stock in the sector for nothing.
Look! ***"INVESTORS FOOLED AGAIN?"***
Re Nevada property "purchase":
• DEED SAYS CONSIDERATION OF *TEN DOLLARS.
• PRESS RELEASE SAYS CONSIDERATION OF *THREE HUNDRED AND FORTY-FOUR THOUSAND DOLLARS.
TRTC told shareholders that $344,000 of THEIR money was spent on purchasing property that OFFICIAL RECORDS indicate they only paid TEN DOLLARS for.
http://icris.washoecounty.us/recorder/eagleweb/downloads/4490937.pdf?id=DOC815S12590.A0&parent=DOC815S12590
This is an unbelievably startling red flag, and JUST THE BEGINNING.
WHY HAS TRTC FAILED TO COMMENT ON THIS?!
As we suggested after alerting the closure of our long term position at $1.39, TRTC is obviously TOXIC to shareholders.
Our level of accuracy continues to go unmatched, folks. Be wary of the fabricated hype ---->
CONSUME INFORMATION WISELY
NOTICE: We deal in facts supported by official records, not hype.
lol "He's no fool"
TRTC really needs to close over .09.
I figured that there would be some effort to maintain the chart as it
appears to be a major stakeholder in the process of dumping millions...but it looks a bit sketchy at this point even as far as .09 is concerned.
Lower.
TRTC CFO DUMPS NEARLY 50% OF HOLDINGS
Folks, when the Chief FINANCIAL Officer of a company determines that it's time to sell most of his (FREE) shares, investors are getting what is likely to be the most dependable sign of things to come they will ever witness. No technical signal, no expert analysis and certainly no fabricated hype is as valuable of a clue as a CFO dumping his shares is.
There should be no surprise when TRTC establishes new lows in the near future; the stock is tremendously overvalued and the company's own CFO is acting on that fact, loud and clear.
Reality pays the bills, not hype.
CONSUME INFORMATION WISELY
Not a great sign that traders aren't even interested in the tech signals here anymore. Obvious flip off the AM low put the stock through screeners but it's fairly clear that the amount of selling is stifling what little profit may have been on the table.
Too overvalued, too much pending dilution, too much fabricated hype and the giant downside are all factors keeping traders and new money from coming anywhere near TRTC.
Be careful folks.
**ARTICLE**TRTC "Looming threat of crushing dilution"(LINK)
We don't own expensive shares, so we can't look past these issues.
https://www.hotstocked.com/article/91029/terra-tech-corp-otcmkts-trtc-gets-smashed-in-the.html
*POST-OF-THE-MONTH*••"Worst stock in the sector?" "1.) Why is TRTC retaining Thomas Puzzo as their lawyer? This man is associated with many past and present pump and dump schemes. Doesn't this make TRTC look like another one of his schemes?
MUST-READ
(See content quoted below)
The questions quoted below illustrate many of the core problems underlying TRTC's struggle to attract and retain investors.
Too much fabricated hype.
Not enough answers.
Don't be fooled.
Don't get trapped.
CONSUME INFORMATION WISELY.
Still no response from TRTC's "IR" firm....(?) WHY NOT?
Posts indicating these questions have been "asked and answered" are just more of the same fabricated untruths that have sadly become commonplace. Don't take my word for it though. Look into it!
2.) Michael James is on the board of directors part time for CFO for TRTC, while being a part time CEO for NRTI. How is this fair to TRTC? Also on this subject, Michael James has been given $500,000 bonuses time and time again without explaining to shareholders why.. This partnership is seriously affecting the investment community's outlook on TRTC.
3.) James' company has repeatedly PR'd about a partnership with NRTI for a product called Nuleif. Nuleif was PR'd by James company saying that it's available in Derek Peterson's private dispensary "Blum" in Oakland. I've stopped by the store and seen no such evidence, even the day of the PR. Since then, no one at the store seems to know what the product is, or even if it exists. Was this all a scam? Slight of hand?
4.) What happened to GrowMASS? We had funding in place to expand that, and it just disappeared into thin air.
5.) Does GrowOp make any revenue at all? Why is it still a part of TRTC if not? I see EG reports, IVXX reports, but nothing coming from selling lights and equipment via GrowOp. Is this still a part of the company?
6.) New buildout progress - We've had eyes on the ground that continue to say that construction hasn't budged on TRTC's Western Ave Dispensary location in Las Vegas. We were told we would get many updates about this, yet we haven't heard a word. Is this still happening? Whats the hold up?
7.) How is TRTC going to get around the 3 year residency requirement for all officers, when the VV family and other officers of TRTC are not CA residents, as well as IVXX being a Nevada LLC. Will AB266 affect TRTC negatively because of these requirements?
8.) Why is TRTC continuing to buy product from Blum, to repackage, and sell back to Blum and others? This seems like a way to make DP and employees large amounts of revenue through their private entity. The Shareholders don't seem to benefit here at all. How much are we paying BLUM for product? It seems a bit out of line with the interests of the shareholders here.
9.) What happened to the NB plants acquisition? We were told time and time again that it was coming, and would help EG become MUCH MUCH MUCH more profitable. Why hasnt this happened, and why haven't we received an update about it? Is this still happening?"
••DUE-DILIGENCE - FULL REPORT•• "Some stocks have an ever lasting impact from the circumstances that create it. In the case of Terra Tech, it crawled out of the great stock promotion primordial ooze. It all started with attorney Thomas Puzzo, who has set up shells for promotions over and over (see his public company involvement). A few of his most successful pump and dump creations include:
This answers all of your questions. Link to FULL ARTICLE below.
Be careful folks - the amount of inaccurate hype floating around is both laughable and disturbing. CONSUME INFORMATION WISELY.
(EXCERPT)
(click to enlarge)
All of these promotions resulted in shareholder losses of at least 90%. Puzzo followed a similar pattern to set up the shell that eventually became TRTC (with his involvement beginning in as early as 2008). It was originally a company called Private Secretary with the symbol PVST. And the pattern was so clear that it would be a future promotion, an internet researcher using the alias ‘nodummy’ identified it in December of 2011 with these comments: “Here is another shell to keep an eye on in the future because it follows some similar patterns with NSRS and RAYS: Private Secretary, Inc (PVST). If you see a change in CEO and a name change/acquisition done by the PVST shell then the paid promotion shouldn’t be too far behind.”
A few things made PVST an obvious choice for a future promotion shell. The first is that it never made any real attempt at forming an actual business. In its original S-1, PVST claimed to be entering the Voice Over IP business. Yet, it only had one employee at the time, Maureen Frances Cotton. Maureen was 66 years old and the only experience she had with telecommunications was a stint from 1959 – 1962 as a switchboard operator / receptionist. Considering IP was not even invented at that time, the relevance of her experience was highly questionable. Even worse, according to the S-1, “Mrs. Cotton is employed elsewhere and has the flexibility to work on Private Secretary up to 10 hours per week. She is prepared to devote more time to our operations as may be required. She is not being paid at present.”
The second big clue is despite the fact the only employee had no background in IP, was only working part time and was not even being paid, is that PVST actually found investors. In the last quarterly report (10-Q) before becoming TRTC, PVST reported having 48 million shares in the hands of anonymous ‘investors’. These investors received these shares for a fraction of a penny per share with no restriction on the trading of these shares (making them completely free trading). As would be expected, PVST turned around and did not make much use of investor money. In fact, it looks like Private Secretary just did enough to keep the SEC filings current, but they ultimately walked away with lots of stock.
And just as ‘nodummy’ had predicted, PVST acquired a private company called GrowOp Technology Ltd. Its first step was to change Private Secretary to Terra Tech Corp and the stock symbol PVST to TRTC. Next, the management of GrowOp assumed control and management over the public company (see link). Derek Peterson took over the role of CEO, while his wife Amy Almsteier became the Secretary, Treasurer, and Director. The GrowOp owners got 34 million shares of common stock, as well as some convertible preferred stock. Maureen Cotton had been the only employee of PVST for five years and never received any compensation. As a reward for her service, all her shares were cancelled. On the other hand, the anonymous investors with a de minimis cost base retained all 48 million of their shares. With these shares spread across various anonymous investors, they retained the ability to sell their holdings at their leisure – meaning at any time and at any price.
This brings us to the third clue that TRTC was going to be a stock promotion. A typical reverse takeover of this nature (with the public entity having negligible assets) will result in existing shareholders retaining a minor stake in the new or merged entity (ie. 5% or less). PVST had no assets, yet its anonymous shareholders retained 60% of the common stock after the merger.
For what possible business reason and in exchange for what assets would GrowOp agree to a deal like that? Why would Derek Peterson, a former investment banker, agree to a deal with such unfavorable economics? The only value in the PVST shell was that it was a public company. Remember that while Maureen Cotton cancelled her shares, the anonymous PVST shareholders who contributed nothing to the business had a huge block of freely trading shares. The obvious conclusion is two fold: Maureen Cotton was just a figurehead; the real parties controlling the shell and now TRTC were the ones holding on to those 48 million shares.
Refer to Appendix B for more information on Terra Tech and Derek Peterson’s use of buzz words outside of regulatory filings.
A very serious, repetitive and dedicated history with stock promotion
Putting aside all the issues that existed when the company was created, not much changed with the acquisition of GrowOp, as it was never much of a business. At the time of the merger, it had produced $630,000 of revenue over the previous 9 months, with a net loss of $605,000 (see financial statements). However, at least there was some business there that sold hydroponics equipment. This business was the key as it afforded management the ability to use various buzz words to hype up the business like ‘sustainable’, ‘renewable’ and most importantly ‘medical marijuana’. Fortunately for TRTC, a few buzz words were all that it needed to fulfill its destiny to use promotion to advance its stock price."
http://theinvestorzone.com/2014/06/06/terra-tech-a-natural-born-capital-killer/
Investors want OUT.
Investors that haven't already lost too much to sell are fighting for the exit...and for good reason.
No value for shareholders = No value per share. It's that simple.
Lower.
lol That's my point. The lack of an alternative is irrelevant when no one HAS to buy it, while at the same time no one WANTS to buy it.
Whether or not there exists an alternative means absolutely nothing in the context of this stock's viability as an investment. lol There's no alternative to AIDS but that doesn't mean I would benefit from contracting it.
TRTC continues to trade precisely according to our projections. Be careful here folks.
No alternative to TRTC in what way?
From an investment perspective...?
There is an alternative - it's called NOT buying TRTC/NOT losing a ton of money.
Or
From an industry perspective...?
No, that's obviously not the case either.
So in what way is there no alternative? Nobody is being forced to buy pump & dump cannabis stocks so there's obviously an alternative. lol
IN ANY EVENT - Any given thing's lack of an alternative doesn't make it good, or valuable. In fact, in the free market a lack of alternatives (competition) always translates to a lack of quality, a lack of value and therefore ultimately A LACK OF DEMAND.
CONSUME INFORMATION WISELY
Article-TRTC "Looming threat of crushing dilution"(LINK)
We don't own expensive shares, so we can't look past these issues.
https://www.hotstocked.com/article/91029/terra-tech-corp-otcmkts-trtc-gets-smashed-in-the.html
*POST-OF-THE-MONTH*••"Worst stock in the sector?" "1.) Why is TRTC retaining Thomas Puzzo as their lawyer? This man is associated with many past and present pump and dump schemes. Doesn't this make TRTC look like another one of his schemes?
MUST-READ
(See content quoted below)
The questions quoted below illustrate many of the core problems underlying TRTC's struggle to attract and retain investors.
Too much fabricated hype.
Not enough answers.
Don't be fooled.
Don't get trapped.
CONSUME INFORMATION WISELY.
Still no response from TRTC's "IR" firm....(?) WHY NOT?
Posts indicating these questions have been "asked and answered" are just more of the same fabricated untruths that have sadly become commonplace. Don't take my word for it though. Look into it!
2.) Michael James is on the board of directors part time for CFO for TRTC, while being a part time CEO for NRTI. How is this fair to TRTC? Also on this subject, Michael James has been given $500,000 bonuses time and time again without explaining to shareholders why.. This partnership is seriously affecting the investment community's outlook on TRTC.
3.) James' company has repeatedly PR'd about a partnership with NRTI for a product called Nuleif. Nuleif was PR'd by James company saying that it's available in Derek Peterson's private dispensary "Blum" in Oakland. I've stopped by the store and seen no such evidence, even the day of the PR. Since then, no one at the store seems to know what the product is, or even if it exists. Was this all a scam? Slight of hand?
4.) What happened to GrowMASS? We had funding in place to expand that, and it just disappeared into thin air.
5.) Does GrowOp make any revenue at all? Why is it still a part of TRTC if not? I see EG reports, IVXX reports, but nothing coming from selling lights and equipment via GrowOp. Is this still a part of the company?
6.) New buildout progress - We've had eyes on the ground that continue to say that construction hasn't budged on TRTC's Western Ave Dispensary location in Las Vegas. We were told we would get many updates about this, yet we haven't heard a word. Is this still happening? Whats the hold up?
7.) How is TRTC going to get around the 3 year residency requirement for all officers, when the VV family and other officers of TRTC are not CA residents, as well as IVXX being a Nevada LLC. Will AB266 affect TRTC negatively because of these requirements?
8.) Why is TRTC continuing to buy product from Blum, to repackage, and sell back to Blum and others? This seems like a way to make DP and employees large amounts of revenue through their private entity. The Shareholders don't seem to benefit here at all. How much are we paying BLUM for product? It seems a bit out of line with the interests of the shareholders here.
9.) What happened to the NB plants acquisition? We were told time and time again that it was coming, and would help EG become MUCH MUCH MUCH more profitable. Why hasnt this happened, and why haven't we received an update about it? Is this still happening?"
Look! ***"NEW RED FLAGS EXPOSED"***
Re Nevada property "purchase":
• DEED SAYS CONSIDERATION OF *TEN DOLLARS.
• PRESS RELEASE SAYS CONSIDERATION OF *THREE HUNDRED AND FORTY-FOUR THOUSAND DOLLARS.
TRTC told shareholders that $344,000 of THEIR money was spent on purchasing property that OFFICIAL RECORDS indicate they only paid TEN DOLLARS for.
http://icris.washoecounty.us/recorder/eagleweb/downloads/4490937.pdf?id=DOC815S12590.A0&parent=DOC815S12590
This is an unbelievably startling red flag, and JUST THE BEGINNING.
WHY HAS TRTC FAILED TO COMMENT ON THIS?!
As we suggested after alerting the closure of our long term position at $1.39, TRTC is obviously TOXIC to shareholders.
Our level of accuracy continues to go unmatched, folks. Be wary of the fabricated hype.
CONSUME INFORMATION WISELY
^^We deal in facts supported by official records, not hype^^
lol Six whole not-for-profit boxes of product still on the store shelf along with comments from people both laughing at the absurd price tag AND calling the company out for using the most unoriginal branding in the industry.
Great pic - it really captures the pump & dump in IVXX.
I'm blown away by the amount of grossly inaccurate content floating around. Literally - 75% of that is either materially false, grossly misinterpreted/inaccurate, or otherwise fabricated out of thin air.
As it has since we alerted the exit from our long term position at $1.39, TRTC continues trade precisely according to our projections. Moreover, the story itself continues to develop seamlessly according to our predictions. Why? Because we are committed to objective analysis and we focus on the facts.
Facts pay the bills, not hype. Our renowned long-standing and verifiable history of accuracy is living proof of that fact.
Be careful folks. TRTC is already tremendously overvalued and facing massive dilution. No value for shareholders means no value per share. It really is that simple.
CONSUME INFORMATION WISELY
WOW! "Concerning rumors allege TRTC openly violates state/federal law"
If the information we're getting about IVXX in Nevada is true, this company is doomed. Risking shareholder capital with wanton disregard for state and federal law is the LAST thing this stock needs...especially when it's already tremendously overvalued and facing massive dilution.
Be careful folks. This could get a lot of attention.
Our level of accuracy continues to go unmatched. LOOK INTO IT.
The facts that are important to potential investors are not nearly as important to investors who are trapped with expensive shares.
Being stuck in a position that's incurring massive losses lends itself to a perspective by which the facts are dismissed for the sake of fabricated hype.
This doesn't apply to TRTC only, it applies to all pump & dumps.
••DUE-DILIGENCE - FULL REPORT•• "Some stocks have an ever lasting impact from the circumstances that create it. In the case of Terra Tech, it crawled out of the great stock promotion primordial ooze. It all started with attorney Thomas Puzzo, who has set up shells for promotions over and over (see his public company involvement). A few of his most successful pump and dump creations include:
This answers all of your questions. Link to FULL ARTICLE below. Be careful folks - the amount of inaccurate hype floating around is both laughable and disturbing.
(EXCERPT)
(click to enlarge)
All of these promotions resulted in shareholder losses of at least 90%. Puzzo followed a similar pattern to set up the shell that eventually became TRTC (with his involvement beginning in as early as 2008). It was originally a company called Private Secretary with the symbol PVST. And the pattern was so clear that it would be a future promotion, an internet researcher using the alias ‘nodummy’ identified it in December of 2011 with these comments: “Here is another shell to keep an eye on in the future because it follows some similar patterns with NSRS and RAYS: Private Secretary, Inc (PVST). If you see a change in CEO and a name change/acquisition done by the PVST shell then the paid promotion shouldn’t be too far behind.”
A few things made PVST an obvious choice for a future promotion shell. The first is that it never made any real attempt at forming an actual business. In its original S-1, PVST claimed to be entering the Voice Over IP business. Yet, it only had one employee at the time, Maureen Frances Cotton. Maureen was 66 years old and the only experience she had with telecommunications was a stint from 1959 – 1962 as a switchboard operator / receptionist. Considering IP was not even invented at that time, the relevance of her experience was highly questionable. Even worse, according to the S-1, “Mrs. Cotton is employed elsewhere and has the flexibility to work on Private Secretary up to 10 hours per week. She is prepared to devote more time to our operations as may be required. She is not being paid at present.”
The second big clue is despite the fact the only employee had no background in IP, was only working part time and was not even being paid, is that PVST actually found investors. In the last quarterly report (10-Q) before becoming TRTC, PVST reported having 48 million shares in the hands of anonymous ‘investors’. These investors received these shares for a fraction of a penny per share with no restriction on the trading of these shares (making them completely free trading). As would be expected, PVST turned around and did not make much use of investor money. In fact, it looks like Private Secretary just did enough to keep the SEC filings current, but they ultimately walked away with lots of stock.
And just as ‘nodummy’ had predicted, PVST acquired a private company called GrowOp Technology Ltd. Its first step was to change Private Secretary to Terra Tech Corp and the stock symbol PVST to TRTC. Next, the management of GrowOp assumed control and management over the public company (see link). Derek Peterson took over the role of CEO, while his wife Amy Almsteier became the Secretary, Treasurer, and Director. The GrowOp owners got 34 million shares of common stock, as well as some convertible preferred stock. Maureen Cotton had been the only employee of PVST for five years and never received any compensation. As a reward for her service, all her shares were cancelled. On the other hand, the anonymous investors with a de minimis cost base retained all 48 million of their shares. With these shares spread across various anonymous investors, they retained the ability to sell their holdings at their leisure – meaning at any time and at any price.
This brings us to the third clue that TRTC was going to be a stock promotion. A typical reverse takeover of this nature (with the public entity having negligible assets) will result in existing shareholders retaining a minor stake in the new or merged entity (ie. 5% or less). PVST had no assets, yet its anonymous shareholders retained 60% of the common stock after the merger.
For what possible business reason and in exchange for what assets would GrowOp agree to a deal like that? Why would Derek Peterson, a former investment banker, agree to a deal with such unfavorable economics? The only value in the PVST shell was that it was a public company. Remember that while Maureen Cotton cancelled her shares, the anonymous PVST shareholders who contributed nothing to the business had a huge block of freely trading shares. The obvious conclusion is two fold: Maureen Cotton was just a figurehead; the real parties controlling the shell and now TRTC were the ones holding on to those 48 million shares.
Refer to Appendix B for more information on Terra Tech and Derek Peterson’s use of buzz words outside of regulatory filings.
A very serious, repetitive and dedicated history with stock promotion
Putting aside all the issues that existed when the company was created, not much changed with the acquisition of GrowOp, as it was never much of a business. At the time of the merger, it had produced $630,000 of revenue over the previous 9 months, with a net loss of $605,000 (see financial statements). However, at least there was some business there that sold hydroponics equipment. This business was the key as it afforded management the ability to use various buzz words to hype up the business like ‘sustainable’, ‘renewable’ and most importantly ‘medical marijuana’. Fortunately for TRTC, a few buzz words were all that it needed to fulfill its destiny to use promotion to advance its stock price."
http://theinvestorzone.com/2014/06/06/terra-tech-a-natural-born-capital-killer/
Big volume selldown today.
Still massively overvalued. Still headed lower.
Don't be fooled folks.
fridayflip .104
••FULL REPORT•• "Some stocks have an ever lasting impact from the circumstances that create it. In the case of Terra Tech, it crawled out of the great stock promotion primordial ooze. It all started with attorney Thomas Puzzo, who has set up shells for promotions over and over (see his public company involvement). A few of his most successful pump and dump creations include:
This answers all of your questions. Link to full report below.
(click to enlarge)
All of these promotions resulted in shareholder losses of at least 90%. Puzzo followed a similar pattern to set up the shell that eventually became TRTC (with his involvement beginning in as early as 2008). It was originally a company called Private Secretary with the symbol PVST. And the pattern was so clear that it would be a future promotion, an internet researcher using the alias ‘nodummy’ identified it in December of 2011 with these comments: “Here is another shell to keep an eye on in the future because it follows some similar patterns with NSRS and RAYS: Private Secretary, Inc (PVST). If you see a change in CEO and a name change/acquisition done by the PVST shell then the paid promotion shouldn’t be too far behind.”
A few things made PVST an obvious choice for a future promotion shell. The first is that it never made any real attempt at forming an actual business. In its original S-1, PVST claimed to be entering the Voice Over IP business. Yet, it only had one employee at the time, Maureen Frances Cotton. Maureen was 66 years old and the only experience she had with telecommunications was a stint from 1959 – 1962 as a switchboard operator / receptionist. Considering IP was not even invented at that time, the relevance of her experience was highly questionable. Even worse, according to the S-1, “Mrs. Cotton is employed elsewhere and has the flexibility to work on Private Secretary up to 10 hours per week. She is prepared to devote more time to our operations as may be required. She is not being paid at present.”
The second big clue is despite the fact the only employee had no background in IP, was only working part time and was not even being paid, is that PVST actually found investors. In the last quarterly report (10-Q) before becoming TRTC, PVST reported having 48 million shares in the hands of anonymous ‘investors’. These investors received these shares for a fraction of a penny per share with no restriction on the trading of these shares (making them completely free trading). As would be expected, PVST turned around and did not make much use of investor money. In fact, it looks like Private Secretary just did enough to keep the SEC filings current, but they ultimately walked away with lots of stock.
And just as ‘nodummy’ had predicted, PVST acquired a private company called GrowOp Technology Ltd. Its first step was to change Private Secretary to Terra Tech Corp and the stock symbol PVST to TRTC. Next, the management of GrowOp assumed control and management over the public company (see link). Derek Peterson took over the role of CEO, while his wife Amy Almsteier became the Secretary, Treasurer, and Director. The GrowOp owners got 34 million shares of common stock, as well as some convertible preferred stock. Maureen Cotton had been the only employee of PVST for five years and never received any compensation. As a reward for her service, all her shares were cancelled. On the other hand, the anonymous investors with a de minimis cost base retained all 48 million of their shares. With these shares spread across various anonymous investors, they retained the ability to sell their holdings at their leisure – meaning at any time and at any price.
This brings us to the third clue that TRTC was going to be a stock promotion. A typical reverse takeover of this nature (with the public entity having negligible assets) will result in existing shareholders retaining a minor stake in the new or merged entity (ie. 5% or less). PVST had no assets, yet its anonymous shareholders retained 60% of the common stock after the merger.
For what possible business reason and in exchange for what assets would GrowOp agree to a deal like that? Why would Derek Peterson, a former investment banker, agree to a deal with such unfavorable economics? The only value in the PVST shell was that it was a public company. Remember that while Maureen Cotton cancelled her shares, the anonymous PVST shareholders who contributed nothing to the business had a huge block of freely trading shares. The obvious conclusion is two fold: Maureen Cotton was just a figurehead; the real parties controlling the shell and now TRTC were the ones holding on to those 48 million shares.
Refer to Appendix B for more information on Terra Tech and Derek Peterson’s use of buzz words outside of regulatory filings.
A very serious, repetitive and dedicated history with stock promotion
Putting aside all the issues that existed when the company was created, not much changed with the acquisition of GrowOp, as it was never much of a business. At the time of the merger, it had produced $630,000 of revenue over the previous 9 months, with a net loss of $605,000 (see financial statements). However, at least there was some business there that sold hydroponics equipment. This business was the key as it afforded management the ability to use various buzz words to hype up the business like ‘sustainable’, ‘renewable’ and most importantly ‘medical marijuana’. Fortunately for TRTC, a few buzz words were all that it needed to fulfill its destiny to use promotion to advance its stock price.
http://theinvestorzone.com/2014/06/06/terra-tech-a-natural-born-capital-killer/
"Concerning rumors allege TRTC openly violates state/federal law"
If the information we're getting about IVXX in Nevada is true, this company is doomed. Risking shareholder capital with wanton disregard for state and federal law is the LAST thing this stock needs...especially when it's already tremendously overvalued and facing massive dilution.
Be careful folks. This could get a lot of attention.
Blatant violation of state and federal law will be great for investor confidence, I'm sure.
Indeed. We've seen this same action from the time we alerted the exit of our long term position at $1.39, all the way down to .09.
DPpresentationlol
*POST-OF-THE-MONTH*••"Worst stock in the sector?" "1.) Why is TRTC retaining Thomas Puzzo as their lawyer? This man is associated with many past and present pump and dump schemes. Doesn't this make TRTC look like another one of his schemes?
MUST-READ CONTENT
(See below)
The questions quoted below illustrate many of the core problems underlying TRTC's struggle to attract and retain investors.
Too much fabricated hype.
Not enough answers.
Don't be fooled.
Don't get trapped.
CONSUME INFORMATION WISELY.
Still no response from TRTC's "IR" firm....(?) WHY NOT?
Posts indicating these questions have been "asked and answered" are just more of the same fabricated untruths that have sadly become commonplace. Don't take my word for it though. Look into it!
2.) Michael James is on the board of directors part time for CFO for TRTC, while being a part time CEO for NRTI. How is this fair to TRTC? Also on this subject, Michael James has been given $500,000 bonuses time and time again without explaining to shareholders why.. This partnership is seriously affecting the investment community's outlook on TRTC.
3.) James' company has repeatedly PR'd about a partnership with NRTI for a product called Nuleif. Nuleif was PR'd by James company saying that it's available in Derek Peterson's private dispensary "Blum" in Oakland. I've stopped by the store and seen no such evidence, even the day of the PR. Since then, no one at the store seems to know what the product is, or even if it exists. Was this all a scam? Slight of hand?
4.) What happened to GrowMASS? We had funding in place to expand that, and it just disappeared into thin air.
5.) Does GrowOp make any revenue at all? Why is it still a part of TRTC if not? I see EG reports, IVXX reports, but nothing coming from selling lights and equipment via GrowOp. Is this still a part of the company?
6.) New buildout progress - We've had eyes on the ground that continue to say that construction hasn't budged on TRTC's Western Ave Dispensary location in Las Vegas. We were told we would get many updates about this, yet we haven't heard a word. Is this still happening? Whats the hold up?
7.) How is TRTC going to get around the 3 year residency requirement for all officers, when the VV family and other officers of TRTC are not CA residents, as well as IVXX being a Nevada LLC. Will AB266 affect TRTC negatively because of these requirements?
8.) Why is TRTC continuing to buy product from Blum, to repackage, and sell back to Blum and others? This seems like a way to make DP and employees large amounts of revenue through their private entity. The Shareholders don't seem to benefit here at all. How much are we paying BLUM for product? It seems a bit out of line with the interests of the shareholders here.
9.) What happened to the NB plants acquisition? We were told time and time again that it was coming, and would help EG become MUCH MUCH MUCH more profitable. Why hasnt this happened, and why haven't we received an update about it? Is this still happening?"
Great post! If IVXX is really killing it, it will likely be short lived. First of all, everyone has production in NV and are gearing up for extractions from what I heard.
And illustrative of the way this company is perceived by the vast majority of market participants. There are only so many "investors" who will fall for the TRTC hype, and it's obvious that they're all already trapped with expensive shares. No new interest + no shareholder value + more dilution = carnage. Every. Single. Time. The stock is tremendously overvalued and headed lower.
There are only 60 or so dispensaries and doubt dispensaries that are truly vertically integrated and competing with TerraTech/Medifarm are going to take their products when they have their own extracted material that is better that they grow and produce themselves.
It's illegal what they are doing in CA and super grey area - they are taking huge risks by making those products in Cali when there are no rules our guidelines like other states. My buddies in Cali don't want to get arrested so they are pursuing legal markets for these extractions until CA opens up in a year. TRTC is likely to get crushed when that happens when the market is flooded by super products.
Why don't they sell in CO or WA and in legal markets (?) where there is competition - they pursue illegal markets like CA and NY because they don't have the money to set up properly funded facilities in these markets and follow the state rules.
Also, when is that Barnhill chick going to sue them? They stole her brand right - this company can't even create a product with their own name and do deals in a legal market. Who would even want to team up with them when they are involved with FBI stings - no one wants them in their facilities! Hell no!
IVXX is stupid anyhow and does not even add up -- just like lots of Terra Tech stuff.
lol Marked. Headed lower.
From the perspective of a potential investor (which is what matters/affects price), it makes no difference what TRTC looks like compared to other stocks in the sector. As long as TRTC is set up and operates in a way that can't benefit common stockholders, pps will continue to plummet.
The way TRTC looks compared to other stocks is only relevant to an investor who is already trapped with shares. Insisting that it is less terrible than other terrible stocks provides a coping mechanism for a current investor, but it doesn't mean anything to a potential investor.
We can polish a turd all day, but in the end, it's still just a turd.