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"..."[Sessions] is in fact what I call a sphincter who is constipating the process," Kampia said. "The reason we haven't won is just process; it's not content."..." --Now that there is PURE GOLD.One of the most brilliantly worded statements I've ever heard.Thanks BP.
Hey now, the Sears catalog was an American mainstay for 50 + years.And the company itself was solid for a hundred years.I'll take that kind of production and staying power from TRTC/BLUM.As they say,nothing lasts forever.Someday in the distant future Amazon will more than likely be a "remember when" company, as well.
I agree with that 100%.--"Spoken by someone who shops primarily (90%) online, but I don't buy my meat and produce online. I want to see and inspect it prior." --I love shopping online for Christmas and birthday gifts,and I buy a lot of "hard goods" online(after researching products beforehand).But I would not consider buying an mj product without seeing and smelling it first.Yes the day may come when one can buy product that is a consistent quality from a familiar distributor,but we are a LONG ways away from that at this juncture for reasons that you stated.BUT, building the quality/consistency and customer loyalty to the IVXX brand would be a step toward that possible VERY LONG TERM goal.Much needs to happen in the MJ space before we even think of getting to that point.I wouldn't fill my beer growler with something I haven't yet sampled.Nor would I buy something sight unseen/unsmelt to fill my pipe.
And our current potus filed bankruptcy at least 5 times,yet sooo many people love him.That's what happens in business.It will be a long,long time before online sales can compete with brick-and-mortar stores in the MJ market,IMO.
I believe it would be called streamlining the business.If you have parts of the whole that are underperforming,then you cut loose that part.All part of the BIG PICTURE.Not every move will work out every time.It's a smart man who realizes when it's time to move on from something.Taking the profit on an underwhelming location to invest in a better location,or more profitable part of the biz, shows sound leadership by our CEO.
The dispensary sold obviously must have been an underwhelming location as far as sales are concerned.And it gives TRTC a nice influx of cash on hand that WASN'T borrowed and they're paying NO interest on.With the ability to acquire additional licenses within the state I'm sure that Derek and company will put that capital to good use.TRTC gearing up for BIGGER and BETTER things.Trimming some fat is a good thing if it's not performing how you hoped it would.
Yessiree,you and I both very excited for the future of TRTC/BLUM.Lots of negative ramblings go on around here but the fact of the matter is the company,OUR COMPANY, keeps humming along.Building and GROWING-(in the absolute literal sense of the word.)TRTC is a winner in my book.So glad we have some truly intelligent,resourceful and dedicated folks on TRTC board to keep us updated and informed on industry and political topics in general,and TRTC/BLUM in particular.Cheers and good luck.
Yes I agree it's all very speculative,but at a basic level at that speculative price(which IMO would be extremely low),do you agree I'm in the ballpark with the way i figured it?I just don't want to be spitting out BS to anyone.Unlike the poo crew,that's not how I roll.I just don't know why someone spit out the figure of 100 million shares to cover the financing.I don't think their intent was to attack TRTC(though I could be wrong about that).Possibly just more fear mongering.And yes I understand that with a higher pps the dilution of shares does become less.
I believe the conversion rate was stated at 87% of the lowest share price over a certain time frame,if I recall correctly.So even IF the pps were to drop to a low of $1.50(speculative) x 87% of that = $1.30 per share for a conversion price.40 million $$ divided by 1.30/share = 30,769,230 shares added for dilution of the $40 million over 2 tears.Making the total share count STILL under 100 million,IMO.Feel free to INTELLIGENTLY dispute my calculations,I'm not opposed to becoming better educated.Anyone care to back up,or dispute this?Let me know if I'm right or wrong.Thanks.
Probably due to the crackdown of all the illegal ops recently.Heard they've been shutting down a lot of those.That is GREAT NEWS for legal and compliant ops like TRTC/BLUM.Shut down the black and grey markets,that'll help us flourish.
You know and I know and a bunch of smart folks on this board know,there's no where to go on the TRTC elevator except UP -in the LONG TERM.We'll have some bounces for sure but this is GOLD.
Well isn't that special.Anybody wanna chip in send some crying towels his way? Very nice eod recovery for TRTC yesterday.Hopefully the beginning of a nice upward churn.SO MANY great things happening with OUR company.Derek keeps pushing forward with TRTC/BLUM.I see the rumors for more retail outlets in Nevada,that's good.They're gonna need more locations to sell once the crops start coming in in a few months.CULTIVATION IS HAPPENING.Not only is business bluming,we truly are GROWING ,NOW.
Here's a LEGIT ARTICLE by someone not afraid to sign his name to it--Cannabis Firm Terra Tech Is Focusing on Organic Growth
By STEVE GELSI Follow | JUN 22, 2018 | 11:02 AM EDT
In a booming business that's under the microscope of regulators and larger potential competitors, the bigger a company can get, the better. That's the approach of cannabis cultivator and retailer Terra Tech Corp. (TRTC) , which is bulking up as quickly as possible to gain market share.
However, the Irvine, Calif.-based company is mostly focusing on internal growth instead of paying the lofty valuations that the cannabis space is currently seeing for mergers and acquisitions. "There's a lack of discipline in pricing," Terra Tech CEO Derek Peterson told Real Money. "There's a 'Green Gold Rush' mentality in certain pockets."
For example, when Terra Tech looked to buy a cannabis company earlier this year, it found two candidates with identical revenue streams - one that wanted about $9 million and the other that asked double that price.
At the same time, Canadian cannabis companies have been wading into the U.S. market looking for acquisitions, driving up prices even more, Peterson said. "It's a more challenging price environment," he said. "We don't want to spend too much out of the gate."
So, Terra Tech plans to grow its footprint from scratch instead paying inflated prices for acquisitions, Peterson said.
Growing Like a Weed
Rapid growth remains a top priority for the company.
"We're focusing on expanding our cultivation and extraction facilities, as well as our retail storefronts," Peterson said. "We're also looking at social lounges to become a destination for customers. We're looking at adding delivery services -- that's a no brainer."
Terra Tech has already grown its revenues to $36 million in 2017 from just $25 million in 2016 while working to expand its footprint of stores and cultivation facilities in its core states of California, Nevada and New Jersey. The company also grows lettuce and herbs that it wholesales to supermarkets under the "Edible Garden" brand name, using a New Jersey hydroponic operation that could someday produce cannabis instead.
Part of Terra Tech's growth has come from acquisitions, such as its 2016 purchase of Oakland, Calif., cannabis dispensary Black Oak. TRTC also operates a second California store in Santa Ana and is adding new locations from scratch in Southern California. Additionally, Terra Tech has four dispensaries In Nevada -- three in Las Vegas and one in Reno.
However, that path has challenges as well. For example, financing remains hard for cannabis companies like Terra Tech to get. Peterson said mortgage rates and equity payments are higher for cannabis properties. For instance, Terra Tech is paying 12% interest and a 45% down payment to buy two Southern California buildings.
A $200 Million Market Cap
Trading on the OTCQX, Terra Tech has built up a respectable roughly $200 million market cap. But for now, it's not planning a move to the larger Nasdaq, Peterson said.
He said that due to cannabis' illegal status at the federal level, major U.S. stock exchanges remain closed off to businesses that sell or touch the plant. For example, the Nasdaq rejected MassRoots (MSRT) in 2016, with no other cannabis companies permitted since then. However, Peterson said that Terra Tech follows the Nasdaq's regulatory protocols and is ready to list there if federal cannabis rules change.
A Big Change for a Guy from Morgan Stanley
Peterson, who formerly served as a senior vice president at Morgan Stanley (MS) and Wachovia, said running Terra Tech differs greatly from his past experiences.
"With Morgan Stanley, everything you need is a phone extension away -- accounting, legal, human resources," he said. "[But] when I started as CEO at Terra Tech in 2012, I had to jump from that into an entrepreneurial mode, where you're wearing all the hats."
Peterson said that Terra Tech has built up more of a traditional corporate structure since then, but still remains a fast-moving enterprise.
"We're overbuilding our internal teams so we can absorb any acquisitions and organic growth quickly, ramp up the business and bring new revenue in," he said. "It's an aggressive stance."
Positive Reviews
While Terra Tech has yet to turn a profit, market observers say its double-digit revenue growth places the company on more solid ground than many other cannabis businesses.
Analyst Alan J. Brochstein told Real Money that TRTC is "making progress and offers a good relative valuation when compared to other companies that cultivate, process or sell cannabis."
And a cannabis investor who spoke on condition of anonymity said the company has "expanded in a smart way, with strong leadership at the helm. Expansion of facilities in Nevada and New Jersey positions them well for sales in Nevada and expected adult-use sales in New Jersey."
What's Next
Terra Tech already has about 300 employees and plans to continue hiring and looking for expansion opportunities, although mostly in California and Nevada for right now. The company could also convert its New Jersey hydroponic facility to cannabis cultivation if the Garden State legalizes recreational marijuana, as some politicians are proposing.
TRTC remains well capitalized for growth, thanks to a $40 million promissory-note deal that it signed in March with underwriter Alliance Global Partners. So, far the company has used the arrangement to sell $10 million of convertible senior promissory notes that pay 7.5% interest. Terra Tech also has another $30 million of debt available for future sale under the deal.
But like other cannabis businesses, TRTC faces heavy compliance costs and a debate on national cannabis legislation even as some individual states legalize recreational and medical use.
"There's a tremendous amount of regulatory burden in the industry," Peterson said. "That's the cost of moving from a black market to a regulated market."
What he failed to include from the "hit piece" that keeps getting pasted is this---Disclosure: I am/we are short TRTC, TRTCD.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: Fuzzy Panda and affiliates of Fuzzy Panda are short shares of Terra Tech as of the time of publication. Fuzzy Panda does not claim any responsibility to update their report or their positioning in shares of TRTC at any future time. This article is our opinion and the result of extensive research on the company, investors are encouraged to do their own due diligence.-------------
IMHO-I don't put much faith in anonymously posted articles.Unless you're a a spy,or undercover agent,why not take full credit for what you choose to write?Paid hit pieces by an ADMITTED SHORTER smells like a heaping pile of BS to me.
I share your sentiments,IP.As a whole,people seem to have become WAAAAAAAY too impatient in general.And,I'm sorry to say,waaaay too easily manipulated by statements or sound bites that come from untruthful and/or unknown sources.Whether investing in TRTC stock(or any other investment),voting,or WHATEVER--people need to put a little more effort and thought into their decision making.The P.T. Barnums of the world are winning with their "shucksterism" and making a lot of folks look like fools in the process.As you stated,this industry is just beginning.TRTC is just starting to take off as a company and growing as we speak.National sentiment for legalization gets stronger EVERY day.Meanwhile,the vultures circle,looking for an easy meal.We ARE just getting started here.
I wonder how many times we are going to see a cut-n-paste of the panda poop article posted here.Love how some paste it pretending it's their own opinion and DD,lol.It's a SHAM article full of previously debunked false statements regarding TRTC.Written ANONYMOUSLY.THAT should tell you all you need to know,if the "author" isn't willing to attach his/her name to it.I've seen this game played before with TRTC.Hope people aren't scared into selling the "GOLD" that they own in TRTC shares.NO FEAR.
TRTC set to skyrocket like like a July 4th display.Wishing a happy Independence Day to all those who believe that the USA IS,HAS BEEN,and (hopefully)ALWAYS WILL BE the greatest country on planet earth.Let's keep moving forward and trying to BE BETTER as individuals and as a nation.Going backwards is NOT a good option.Derek keeps the TRTC/BLUM business moving forward.I like that in a company.No amount of panda poo can stop 'em.Scrape it off the boots and move ahead.Cheers to all and enjoy the holiday.REMEMBER-FREEDOM FROM TYRANNY-IS WHAT IT'S ALL ABOUT.Stay involved in your country folks,or you just may lose it.
Spot on,there.Nobody in their right mind would spend so much time and effort talking badly about a company that they need to succeed to make $$ on.And you'll notice how they travel together in packs.IMO stocks will rise and stocks will fall,none of them go straight up.TRTC is the real deal,I've put my money where my mouth is.
Someone needs to forward this to AG Jeff Sessions.THEN he can believe in the gospel of the weed and do the right thing---LEGALIZE,NOT CRIMINALIZE.
Very amusing how one can copy and paste a HIGHLY QUESTIONABLE,anonymous "hit piece" article about TRTC and claim it as their own "IMHO".Many(most?) of those statements in that POS ARTICLE have long been debunked by some of the more intelligent posters on this board who actually compile some REAL,serious due diligence regarding Terra Tech.The company continues marching forward as we speak.
Probably was pre-split vs. post split.
Yeah, they also did one not too long ago on Aurora.Just before it went up almost 20%.
Important,my ass.ANONYMOUS article containing a truckload of BS,by an admitted group of SHORT players.Might you be one?
I would absolutely agree with you on that.Stand up and fight the BS/slander being thrown about regarding OUR company.
WOW, quite the shatty hit piece by the panda poop crew last week.Was certainly surprised by the share price upon returning from my vaca in the wilderness.Could NOT resist adding some shares this morning at these EXTREMELY CHEAP prices.We'll recover, I'm sure of that.Matter of fact you could say I'm bettin' on it.An awful lot of previously debunked BS in the TRTC slam article.LPR all over again??? "What Me Worry?" NO F-N way.Love how the "author" isn't even man enough to put his/her name on the fake news article.He/she could be a message board poster.(AND probably IS).
I DO agree with you AP.It just seems like there's always so much heel dragging going on in with them suckers in DC.We all know where the end game will be.Just make it happen,dammit.Quit all the dickin' around and GIT ER DUNN.Watching what is happening in Canada is just SO frustrating when one looks at THIS side of the border.SO much BS, such limited action.We all know it's coming,I guess my patience is just being tested.Definitely in need of my upcoming vacation.Time to commune with the bears,moose and coyotes.
My "allegedly" pro business US gov't is really frustrating the sheeeet out of me with its failure to act positively toward the multi-billion dollar US mj industry.They are TRULY failing to support the will of the US populace.VERY FRUSTRATING, INDEED.Change needs to be made at the polls in November so TRTC and the rest of the industry can FLOURISH.
I've got some in my pocket I'll toss on that the next couple of days.On VACA next week ,will be unplugged and completely out of touch.Hoping to see some more GREEN with TRTC upon my return.Keep the naysayers in line here."The times they are a-changin'"
Never fear,I put 'em back up TOP.
As usual,Derek Peterson-"the face of the US mj industry" is quoted in this article....But others in the industry are hopeful as more cannabis companies have found their way onto U.S. exchanges.
Derek Peterson, the chief executive of Terra Tech Corp (TRTC.PK), based in Irvine, California, which grows and sells cannabis, said the company has taken steps to prepare for a listing on a major exchange, such as undergoing a reverse stock split on the over-the-counter market to boost its share price. Investors’ search for deal flow in a sluggish IPO market will lead to greater acceptance of marijuana companies, he said.
“When the opportunity opens up, there will be a tremendous amount of institutional capital chasing it,” Peterson said. “It’s just a matter of time.”
Reporting by April Joyner in New York; Editing by Lisa Shumaker -link to complete article ----
https://www.reuters.com/article/us-hightimes-ipo/high-times-refreshes-ipo-plans-as-cannabis-companies-build-buzz-on-wall-street-idUSKBN1JF1KO
Momentum building in banking industry for support of federal marijuana reform
Published 17 hours ago | By Jeff Smith
Banking trade groups are stepping up their support for proposed legislation and seeking better clarity from the federal government about how financial institutions might serve cannabis-related businesses in states where marijuana is legal.
The groups represent institutions that in total manage trillions of dollars of assets.
They see the huge potential of providing banking services to the MJ industry but are seeking legal assurances they won’t be prosecuted for their efforts.
The Independent Community Bankers of America (ICBA) recently expressed support for the Secure and Fair Enforcement Banking Act that would protect banks serving legal marijuana businesses.
ICBA represents nearly 5,700 community banks of various sizes and charter types.
The American Bankers Association (ABA) – which has thousands of members nationwide, including federally chartered banks – also wants legal clarity from Congress on the conflict between federal law and state-legal marijuana programs, according to a report by Politico.
ABA did not immediately respond to Marijuana Business Daily for further comment.
In addition, a number of banking groups recently endorsed legislation by Democratic Sen. Elizabeth Warren of Massachusetts and Republican Sen. Cory Gardner of Colorado that would protect state-legal marijuana programs and, in essence, also resolve banking issues in those states.
Those groups include:
The Cooperative Credit Union Association: 190 credit unions in Delaware, Massachusetts, New Hampshire and Rhode Island.
Massachusetts Bankers Association: 150 banks of all sizes and charters.
Maine Credit Union League.
Mountain West Credit Union Association: 126 credit unions in Arizona, Colorado and Wyoming.
Northwest Credit Union Association: 180 credit unions in Idaho, Oregon and Washington state, with associate members in Alaska and Hawaii.
The recent endorsements by financial institutions are prompted in part by U.S. Attorney General Jeff Sessions’ continued rhetoric that the Justice Department intends to enforce federal drug laws.
Opioid use added as qualifying condition for medical marijuana in NY
ALBANY, N.Y. (WIVB) - Opioid use will be added as a qualifying condition for medical marijuana in New York.
The New York State Department of Health made the announcement on Monday.
“The opioid epidemic in New York State is an unprecedented crisis, and it is critical to ensure that providers have as many options as possible to treat patients in the most effective way,” New York State Health Commissioner Dr. Howard Zucker said. “As research indicates that marijuana can reduce the use of opioids, adding opioid use as a qualifying condition for medical marijuana has the potential to help save countless lives across the state.”
Opioid use joins 12 other qualifying conditions in a state program.
Currently, a number of conditions can qualify patients for medical marijuana. These include cancer, AIDS, Parkinson's disease and epilepsy, among others.
The new change is in response to the increasing amount of opioid-related deaths that have happened in recent years.
In 2010, the state's Department of Health says more than 1,000 people died from opioid overdoses. In 2016, that number was more than 3,000 -- a roughly 180 percent increase.
The Department of Health says marijuana can be an effective treatment for pain and decreases the chances of dependence.
As of Monday, there are more than 59,000 certified medical marijuana patients and nearly 1,700 registered practitioners participating in New York's Medical Marijuana Program.
George Amedore, co-Chair of the Senate Task Force on Heroin and Opioid Addiction said "“I have been strongly advocating to remove barriers and allow the use of medical marijuana as an alternative to opioids because it will help patients, reduce the number of highly addictive opioids in circulation, and ultimately, it will save lives."
I will agree with you that I'd love to see authorized shares reduced to 500 million.It might improve the optics a bit.In reality it wouldn't mean anything but it might "look" better to some.As for your "sliding down" comment,see my previous post re:price the past 2 months.Yeah it's been relatively flat.Let's see,a 50% discount off of 2.70 would equal 1.35.That's a far cry from 2.50 and really wishful thinking on your part.There's that dang math class again.Ya must've been absent that day.Sounds like you're talking on both sides of the fence.
Float 62.6M Shares Outstanding 68.3M .From TDA, Today. You were in math class with Mags,eh? (I said 66,looks like we're both off by 2)
Every $5 mil would only equal around 2 mil shares at the 87% discounted rate of the current appx share price.Not anywhere near 5 - 10 mil shares.That means only about 16 mil shares total added over the 2 YEARS of the financing agreement,based on current pricing.
When there was 950 million shares in issue that would've been true.Please try to keep yourself updated.Current o/s share count stands around 66 million ONLY.That is VERY VERY low IMO,for a company that has what TRTC/BLUM has going right now.Aurora has what,around 600 mil issued,and rising?That's around 9X the TRTC count.Yet their pps is barely 2.5 X that of TRTC. I see that's starting to make some holders of that stock a bit nervous.TRTC is in GREAT shape moving forward.That's where I'm looking,FORWARD.To keep living in the past is simply foolish.TRTC has done a great job getting itself established and things get easier each and every day.Revenues GROW,business EXPANDS,POLITICS gets a little closer to being a big fat YES.This a GREAT place to be as far as I'm concerned.
R E A L L Y ? -Tanking ????? Price pretty much the same as it's been for the past couple of months.Pimples up,pimples down.ALL stocks fluctuate in price.BIG PICTURE my friend,keep your eyes on the prize.TRTC is one of the best LEGIT mj companies one can buy stock in.BIG PICTURE looks like a Rembrandt,absolutely BEAUTIFUL and worth a boatload of money.
Yet the reality of it is that TRTC has pretty much traded within 10% of this price for the past 2 months.Blip up,blip down.No cause for concern by any means.Price holding steady post rs fear.Share re-structure was a necessity,we all know that.That goblin has now passed and THIS is the NEW beginning.Meanwhile overall business for TRTC/BLUM continues to GROW,and YES I mean that LITERALLY.Doom and gloomers DO NOT affect what is really happening with OUR company.TRTC continues to build UP and OUT.PRODUCTION continues,SALES continue,CULTIVATION continues EVERY HOUR OF EVERY DAY.Every day we get ONE STEP CLOSER to the reality of FEDERAL LEGALIZATION.YES "the train keeps a-rolling,ALL NIGHT LONG".Any dilution based upon the 40 mil in borrowed capital(over 2 years) will truly be minimal in the grand scheme of things.Keep the BIG PICTURE in focus.TRTC/BLUM is bigger and better NOW than they they were a year ago but they'll be BIGGER and BETTER still,a year from now.THAT is a FACT.
BIPARTISAN LAWMAKERS AGREE-MARIJUANA PROHIBITION HAS FAILED AND IT'S TIME TO CHANGE THE LAW
By Justin Strekal, opinion contributor — 06/12/18 07:00 AM EDT-The Hill
Marijuana prohibition has been around for more than 80 years, but if last week’s series of events are any indicator, this era may finally be coming to an end.
Sens. Cory Gardner
(R-Colo.) and Elizabeth Warren
(D-Mass.) made an appearance on MSNBC’s Morning Joe to discuss the bipartisan legislation, Strengthening the Tenth Amendment Through Entrusting States, to remove the threat of federal intervention and prosecution in states that regulate marijuana use and sales.
Representatives David Joyce
(R-Ohio) and Earl Blumenauer
(D-Ore.) introduced companion legislation in the House. This marks the first bicameral, bipartisan legislation to end the federal enforcement of prohibition in states that have reformed their marijuana laws.
The unlikely duo of Senators, who rarely agree on anything, were lockstep on one factor: Prohibition has failed and it is time to change the law.
"Outdated federal marijuana laws have perpetuated our broken criminal justice system, created barriers to research, and hindered economic development," Warren said. Gardner also had something to say on the issue, “The bipartisan, commonsense bill ensures the federal government will respect the will of the voters — whether that is legalization or prohibition - and not interfere in any states' legal marijuana industry."
The next day in a morning pool spray, President Trump
was asked about the newly introduced legislation and had a simple response, “I support Sen. Gardner, I know exactly what he’s doing.”
This reaffirmation came off the heels of a commitment by the president made to Sen. Gardner that he would support a federalist approach to state marijuana laws back in April. By signaling early support for legislation, Trump has publicly gone further in supporting major marijuana reform than any previous president.
Thirty states, Washington, D.C. and the U.S. territories of Guam and Puerto Rico have enacted legislation specific to the physician-authorized use of cannabis. Moreover, an estimated 63 million Americans now reside in jurisdictions where anyone over the age of 21 may possess cannabis legally. An additional 17 states have passed laws in regard to cannabidiol oil for therapeutic purposes. Voters overwhelmingly support these policy change
To date, these statewide regulatory programs are operating largely as voters and politicians intended. The enactment of these policies have not negatively impacted workplace safety, crime rates, traffic safety, or youth use patterns. They have stimulated economic development and created hundreds of millions of dollars in new tax revenue.
Specifically, a 2017 report estimates that over 149,000 Americans are now working full-time in the cannabis industry. Tax revenues from states like Colorado, Oregon, and Washington now exceed initial projections. Further, numerous studies have identified an association between cannabis access and lower rates of opioid use, abuse, hospitalizations, and mortality.
Now Congress must do its part and swiftly move forward on this bipartisan legislation that explicitly provides states with the authority and autonomy to set their own marijuana policies without the fear of federal incursion from a Justice Department.
Justin Strekal is the political director for National Organization for the Reform of Marijuana Laws, where he serves as an advocate to end the federal prohibition of marijuana and to reform our nation's marijuana laws. Prior to working on drug policy, he focused on tax, wage, and campaign finance reform as well as managed electoral campaigns throughout the country for positions in every level of government.
Right on Prof.TRTC is just running the "pace laps" right now waiting on the "GREEN FLAG"(pun intended) to go OFF TO THE RACES.Vroom,Vroom.