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from the article;
"It is estimated that about ten states will have some legislative or ballot initiatives being voted upon this year or next."
"Why does Surna not do more PR?"
The press releases have had no impact on share price (see Aug 2020). And for the most part, the share price has no impact on Surna. There has been no incentive for Surna to push up the market cap. The company has not been raising capital, seeking massive loans, engaging in mergers/acquisitions... Business has been functioning separate from the market price.
That may be changing. The PPP loan has been forgiven so there is no longer a need to "cry poor". Instead, Surna is closer to that point where its market cap is important. Mergers and acquisitions require assets and Surna will need to engage with the investment community.
Investors will be getting the annual report before the end of the month and by mid-May the 1Q report. By June, Surna will have a whole new investor base.
March 10, 2021
Mark Your Calendars: The Cannabis Cultivation Virtual Conference Returns
By Cannabis Industry Journal Staff No Comments
On March 23, 2021, Cannabis Industry Journal is hosting our annual Cannabis Cultivation Virtual Conference. From Noon EST to 5 pm, you’ll get access to nine veterans of the cultivation market.
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On March 23, 2021, Cannabis Industry Journal is hosting our annual Cannabis Cultivation Virtual Conference. From Noon to 5 pm EST, you’ll get access to nine veterans of the cultivation market discussing a variety of topics related to the ins and outs of growing cannabis and hemp.
Hear from subject matter experts who will share their perspectives on growing organically, facility design and planning, hemp farming and integrated pest management.
Back in December during the Cannabis Quality Virtual Conference, the Cultivation Technology episode featured a session titled A Panel Discussion: Integrated Lifecycle of Designing a Cultivation Operation. Due to a large amount of interest and attendee questions that the panel did not have time to address, we are reprising this panel discussion and bringing it back on March 23.
Speakers for that panel discussion include: Gretchen Schimelpfenig, PE, Technical Director of Resource Innovation; Brandy Keen, Co-Founder & Sr. Technical Advisor at Surna, Inc; Adam Chalasinski, Applications Engineer at Rough Brothers/Nexus Greenhouse Systems/Tetra; David Vaillencourt, Founder & CEO of The GMP Collective, and Kyle Lisabeth, Vice President of Horticulture at Silver Bullet Water.
Other talks from the Cannabis Cultivation Virtual Conference on March 23 include:
Why CBD Companies Should Go Organic
Brad Kelley, COO of Socati
The Beginner’s Guide to Integrated Pest Management
David Perkins, Founder of Floresco Consulting
Starting from Scratch: Launching a Hemp Farm in Georgia
Reginald “Reggie” Reese, Founder & CEO of The Green Toad Hemp Farm
Dwayne Hirsch, President & Chief of Business Development at The Green Toad Hemp Farm
You can check out the agenda in its entirety and register here. Attendees will have the opportunity to ask speakers questions during the live Q&A session that follows each session. Registration is complimentary. For sponsorship opportunities, contact RJ Palermo at Rj@innovativepublishing.net
in my mailbox...
Google Alert
surna inc
NEWS
Mark Your Calendars: The Cannabis Cultivation Virtual Conference Returns
Cannabis Industry Journal
... Co-Founder & Sr. Technical Advisor at Surna, Inc; Adam Chalasinski, Applications Engineer at Rough Brothers/Nexus Greenhouse Systems/Tetra; ...
Most penny stock shareholders are worried about the burn rate. Surna generated a profit in two quarters previous to the pandemic.
Surna had $2 million in cash at the end of the 3Q, representing about 10% of the market cap.
New technology in place (as opposed to "on its way").
Legislation working favorably.
New markets generating new contracts...
Bullish. Copied and pasted three releases from August. These communications did nothing to the share price. Surna could be bought for under three cents per share for most of the second half of 2020.
Expectations should remain guarded but breeze thru these descriptions of activity at the beginning of the 3Q. I remain bullish on 4Q results.
Boulder-based Surna inks $2.8M deal, largest in firm’s history
By LUCAS HIGH | BizWest / Daily Camera
PUBLISHED: August 7, 2020 at 7:42 p.m. | UPDATED: August 7, 2020 at 7:42 p.m.
Surna Inc. (OTCQB: SRNA), a Boulder-based manufacturer of growhouse equipment for the cannabis industry, announced this week a $2.8 million sales contract to develop a cultivation operation in Illinois, the richest deal in the firm’s history.
Surna CEO Tony McDonald stands inside ...
Surna CEO Tony McDonald (Jeremy Papasso / Staff Photographer)
That $2.8 million is more than the company booked in quarterly revenue in the first quarter, when the firm posted sales of $1.81 million.
The contract, which calls for 66,000 square feet of cannabis cultivation, drying and processing areas, comes at a critical juncture for Surna. As recently as June, the firm reported in regulatory disclosures that it has concerns about its long-term viability in the face of the ongoing COVID-19 pandemic and the nationwide economic downturn.
In Illinois, the firm is under contract to provide a full suite of climate-control products and technologies for the cultivation and processing spaces, according to a Surna news release.
“The team at Surna has worked diligently to secure the largest single contract in the company’s history,” Surna CEO Tony McDonald said in a prepared statement. “Now our operations and controls departments will be hard at work ensuring the delivery of a precisely controlled environment and on-time delivery of equipment to meet our customer’s requirements.”
Surna Reports Q2 2020 Results and Recent Sales Contracts
August 11, 2020 09:43 ET | Source: Surna Inc
Announces $3.1 million in New Sales Contracts in July
Boulder, Colorado, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA) announced today operating and financial results for the three and six months ended June 30, 2020, as well as recent new sales contracts.
* During the month of July 2020, we entered into several new sales contracts totaling approximately $3.1 million, including our largest-ever single contract for $2.8 million, most of which we expect to be realized as revenue in 2020.
Surna Introduces Expanded Services and Technology Offerings
August 25, 2020 09:15 ET | Source: Surna Inc
Announces Full MEP Design Services with Expansion of HVAC Technologies
Boulder, Colorado, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA) today announced an expansion of its portfolio of services and products.
While Surna has been historically known for its expertise in 2 and 4-pipe chilled water solutions (also known as hydronic cooling and dehumidification), its new technology offerings include:
Direct expansion (DX) units with standalone dehumidification options, including split systems, mini-splits and packaged roof top units (RTUs).
Complex DX system options with integrated dehumidification via hot gas reheat and wintertime economization.
Desiccant solutions for low humidity applications.
Racking solutions for optimal airflow designs in tiered layouts.
Many clients have already benefited from Surna’s expanded MEP (mechanical, electrical, plumbing) engineering services incorporating the new technologies. Four recent contracts include the following designs:
Project in Missouri: Surna will provide engineering design services for cooling, dehumidification and wintertime economization using its new Complex DX RTU systems in a 33,000 square foot facility. Surna is also providing its new racking airflow design and technology in this tiered grow room design.
Project in Iowa: Surna is providing its design services and DX split systems with hot gas reheat for a 5,000 square foot indoor drying facility for industrial hemp production.
Project in Michigan: Surna provided engineering design services for cooling and dehumidification using its new DX split systems with hot gas reheat in a 1,200 square foot facility.
Project in Pennsylvania Surna will provide engineering design services using its new Complex DX RTU systems with integrated dehumidification in a 52,000 square foot facility.
The new technology offerings are driven by customer feedback and are evidence of Surna’s commitment to deliver innovative environmental control solutions to its customers, with the added convenience of obtaining products and MEP design services from a single source.
“These new products and services demonstrate Surna’s evolution and deliver on promises we have made to our customers and shareholders,” said Tony McDonald, Surna’s Chairman and CEO. “With this broader range of design services and greatly expanded product portfolio, we are able to provide optimal environmental control solutions for virtually any size and sophistication of cultivation facilities.”
from a little over a year ago...
Letter Details Strategic Plan and Vision for 2020
Boulder, Colorado, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA), a designer, engineer and manufacturer of environmental control and air sanitation systems for commercial, state- and provincial-regulated indoor cannabis cultivation facilities, announced today the issuance of a letter to shareholders from the Company’s Chief Executive Officer, Anthony K. McDonald.
The letter is available at Surna’s website www.surna.com/investor-relations.
The shareholder letter outlines a series of inter-related strategic initiatives that the Company intends to pursue during 2020, including: (i) broadening its product line, (ii) extending leadership into more advanced technology products, and (iii) engaging in more strategic relationships.
All shareholders and other interested parties are encouraged to read this letter.
The Company has announced that it has scheduled its Q4 2019 earnings call for Thursday, March 26, 2020 at 4:00 p.m. Eastern Time. The Company’s CEO, Mr. McDonald, will provide an update on Q4 2019 financial results, recent developments, and discuss the strategic initiatives described in the shareholder letter.
Re-post from Oct 27 2020. Surna has been cancelled due to lack of interest." That was a good day to buy...
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...Surna getting in the buying guides. see article below with Surna mention...
Cannabis Dehumidifiers Market Trends, Sales, Revenue, Supply, Demand, Growth, SWOT Analysis, By Top Players- DryGair Energies Dehumidifier Corporation of America STULZ Air Technology Systems. Subcooled Air Desert Aire GGS Structures Ecor Pro Surna ……
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see the press release below from last April. Note that VividGro's executive was named to the Surna Board of Directors in June. GroAdvisor is a buying group that fills all operational needs. Some of these companies would become acquistion targets is my suspicion... Best of luck to all.
Introducing GroAdvisor – A Premier Partnership of Product and Service Providers
Apr 21, 2020 | Press | 0 comments
Chicago, IL, April 21, 2020 (GLOBE NEWSWIRE)
GroAdvisor (groadvisorworldwide.com) is the cultivation industry’s premier partnership of product and service providers. Together, these partners can provide fully optimized cultivation methods that have been proven to create a quality crop quickly and efficiently; or, work with your existing cultivation team to optimize their system BEFORE encountering the “growing pains” that are common in this industry.
Porta-King Building Systems is excited announce our new association with the members of GroAdvisor. We see tremendous value in teaming with these other experts from the indoor grow industry. We believe this approach gives us a huge advantage as we can now offer cultivators a superior approach to creating the optimal grow environment as well as a complete build out of the entire indoor grow facility. GroAdvisor’s partners are leaders in meeting the needs of commercial cultivators. Since 2004, in aggregate, they have been involved with more than 1000 cannabis facilities. These partners include:
Agrowtek Inc. is a premier automation controls manufacturer for the discerning horticulturalist. Agrowtek’s comprehensive line of products includes climate and fertigation controls systems, precision digital sensors for atmosphere and water, relays and motor controllers for equipment control, and peristaltic dosing pumps for automated nutrient and pH dosing. With over 10 years in growing controls, Agrowtek continues to innovate and provide powerful and flexible control capabilities.
CleanLeaf is a division of Air Cleaning Specialists. Their filtration systems are designed to provide grow rooms, greenhouses and other growing facilities with the highest standard of air filtration possible. Their team has more than 30 years of experience in the air cleaning industry and they are driven to continually improve air quality across a diverse mix of industries. CleanLeaf has customized fume, dust, smoke, and odor extraction systems since 1979. They’re experts in developing efficient air patterns to control, capture, prevent, and clean.
Innovative Growers Equipment, Inc. specializes in building and designing grow facilities all over the world. That includes custom Ebb and Flow greenhouse benches, matching expanded metal benches, archival racks for vertical cultivation applications, custom equipment and other complimentary equipment to growers of quality plants throughout the world.
Porta-King Building Systems is an industry leader in prefabricated construction since 1969 with 150,000 square feet of U.S. manufacturing and 10 U.S. regional offices. Traditional construction methods are costly and time-consuming. Their modular construction provides a better solution. The speed in which construction can be completed ensures time to production is typically 50% faster than conventional methods of construction. Other Porta-King prefabricated construction solutions for the Cannabis industry include:
Fully assembled guard buildings for main entrance and perimeter security.
Vestibules and mantraps to create secured entry points for new and existing facilities doors.
Structural steel platforms and towers to improve POV for security personnel at outdoor grow operations.
Sprung Structures provides the ideal growing environment enabling customers to control light, ventilation, temperature, humidity and water within an air-tight and thermally insulated building envelope.
Surna Inc. has been designing, engineering and manufacturing application-specific environmental control and air sanitation systems for commercial, state- and provincial-regulated indoor cannabis cultivation facilities in the U.S. and Canada since 2006. Their engineering and technical team provides energy and water efficient solutions that allow growers to meet the unique demands of a cannabis cultivation environment through precise temperature, humidity, light, and process controls and to satisfy the evolving code and regulatory requirements being imposed at the state, provincial and local level.
VividGro® offers a complete suite of controllable horticultural lighting solutions to address our customers’ needs. Over the past 5 years, VividGro has sold controlled environment agricultural lighting covering in excess of 1 million square feet of plant canopy. From propagation to harvest, VividGro can provide the right spectra any grower requires.
Proper planning with the GroAdvisor team of experts can eliminate costly failures before they happen.
https://groadvisorworldwide.com/introducing-groadvisor-a-premier-partnership-of-product-and-service-providers/
This was sent to my inbox this morning. I have SRNA on alert on the SeekingAlpha website;
SRNA: Recreational marijuana legalization is coming to Virginia
https://seekingalpha.com/news/3667419-recreational-marijuana-legalization-is-coming-to-virginia?mail_subject=srna-recreational-marijuana-legalization-is-coming-to-virginia&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha
Recreational marijuana legalization is coming to Virginia
Mar. 01, 2021 2:24 AM ETAurora Cannabis Inc. (ACB)By: Yoel Minkoff, SA News Editor43 Comments
With 1 in 3 Americans now living in a state where adult pot use is legal, Virginia is no longer sitting on the sidelines. Over the weekend, local lawmakers narrowly approved compromise legislation that would make it the first state in the south to allow recreational marijuana. The bill now goes to Virginia Gov. Ralph Northam (D), who supports legalization, for his signature.
Fine print: The law would legalize the use of cannabis by people over the age of 21. It would also allow possession of up to an ounce by anyone over 21 and establish an agency to oversee regulation of the cannabis market. The state is hoping that its commercial recreational marijuana program could generate nearly $1.5B in annual sales within five years of the scheduled start on Jan. 1, 2024.
Specifics of the regulations were punted until next year, when they'll be decided by the legislature. Under discussion is the framework and criminal penalties for several offenses, including underage use and public consumption of marijuana. Currently, people under the age of 21 would face a $25 civil penalty and have to undergo treatment.
More details: Part of the bill is aimed at ending disparate treatment faced by people of color in the criminal justice system. The legislation calls for 30% of marijuana tax revenue to go to a fund aimed at communities historically over-policed for marijuana-related crimes.
Some lawmakers and advocacy groups also complained the years-long waiting period needlessly extends unjust treatment, though others argued that going ahead without regulations could boost illegal pot sales.
Last week, Gov. Phil Murphy signed a series of laws that legalize the possession of marijuana for recreational use in New Jersey.
On the move premarket: Tilray (NASDAQ:TLRY) +4.6%, Aphria (NASDAQ:APHA) +4.3%, Aurora Cannabis (NYSE:ACB) +3.7%, OrganiGram (NASDAQ:OGI) +3%, Canopy Growth (NYSE:CGC) +1.6%, Cronos (NASDAQ:CRON) +1.5%. Jushi Holdings (OTCQB:JUSHF) is off 0.3% and Columbia Care (OTCQX:CCHWF) is unchanged.
The new member of GroAdvisor.com is an extraction equipment company.
https://groadvisorworldwide.com/products/cannabis-extraction-equipment-packages/
Slide 9 is the Strategic Plan.
https://s3.amazonaws.com/cdn.irdirect.net/PIR/699/4997/Investor%20Presentation%20Q32020_11-12.pdf
GroAdvisors.com is showing another logo on its website. Twenty logos now, suggesting twenty members. There have been no press releases by GroAdvisors since the Surna announcement last April. There are more recent blogs and podcasts but nothing Surna related.
I continue to think that GroAdvisors.com has been identified as a primary source for Surna to add value to its position. The Surna control system is the nerve center of the plant and will touch various functions within.
The GroAdvisors.com relationship was announced in April 2020. At the end of June an executive of one of the GroAdvisors group (VividGro) filled a vacant position on the Surna Board of Directors. We haven't heard a reference since then but the GroAdvisors.com group has expanded to nineteen companies.
The Q3 2020 Surna Investor Presentation shows the progress toward the 2021-2022 Strategic Plan (slide 10). GroAdvisors appears to have a key role in fulfilling Surna's vision of adding revenues and to "create a widely held, actively traded and fully valued Nasdaq-listed company". Good luck to all.
vdb - The further consideration is that Jan-Feb-Mar sales will be reported less than sixty days after the year end report. The 1Q report in mid-May will include the record breaking contract in its backlog, setting the stage for consecutive quarterly growth for all of 2021.
Along the way there may be announcements, mergers, acquisitions, record breaking contracts to add further value to Surna.
And, federal legalization is likely to happen along the way. Surna is well positioned for those that have accumulated up to now.
Thirty-day (or so) countdown to the 4Q year end 2020 results.
4Q 2019 = $3.7 mil;
1Q 2020 = $1.8 mil;
2Q 2020 = $1.7 mil;
3Q 2020 = $1.6 mil
Here is my thought trail on what to expect.
We know that in Aug 2020 the company reported a record contract ($2.8mil) and indicated that the revenue would come in the 2H 2020 – yet 3Q was a total of $1.6 total. This suggests that there may be $2 mil or more yet to hit the top line. Consider that the Aug contract was part of a backlog totaling $8.2 mil. Converting the backlog has been a challenge but this time there was an election which may have accelerated things. For instance, an Oct engineering design contract was referred to in the Jan announcement for 2nd record breaking major contract ($3.2m).
Revenue = Milestones
$3.2 mil = triple digit growth over 3Q 2020 sales, previous quarter (1.6)
$3.3 mil = match 2Q and 3Q 2020, two previous quarters combined (1.7 + 1.6)
$3.7 mil = match 4Q 2019, previous year quarter ($3.7)
$4.1 mil = double digit growth over 4Q 2019, previous year quarter ($3.7)
$4.8 mil = three times 3Q 2020, previous year quarter ($1.6)
$5.1 mil = match 1Q 2Q and 3Q, three previous quarters combined (1.8 + 1.7 + 1.6)
$6.4 mil = four times growth 3Q 2020, previous quarter ($1.6)
$7.4 mil = triple digit growth versus previous quarter ($3.7)
$8.6 mil = match 4Q 1Q 2Q and 3Q combined (3.7 + $1.8 + $1.7 + $1.6)
Consistently Good Cannabis
Special Advertising Section - Special Advertising Section: Increasing Profits | Environmental Controls PM Growers keeps a stable growing environment and saves on electricity costs, thanks to Surna climate control systems.
February 8, 2021
PM Growers nurtures 2,400 cannabis plants annually at its indoor facility in Bangor, Mich. The plants grown for the company’s medical cannabis patients require a stable cultivation ecosystem, a necessity that controlled climate system provider Surna delivers with reliability.
“We’ve been working them for about a year-and-a-half,” says PM Growers co-owner Rick Taylor. “We did a lot of research before deciding to purchase with them. I traveled the country talking to other growers, and they were quite pleased with the savings they got with Surna.”
Surna, based in Boulder, Colo., has been designing climate systems and controls for the cannabis industry since 2006. The company's MEP (mechanical, engineering and plumbing) design and products keep cultivation facilities clean and prevents contamination.
Surna's equipment helped PM Growers reduce its energy usage, resulting in lower electric bills and other benefits. PM Growers uses a suite of Surna products, including dehumidifiers, fan coil units and chillers. The company enjoyed immediate results via lower electric bills and a welcome downturn in its CO² emissions. Surna chiller compressors alone have decreased the company’s wintertime electric bills by up to 20%.
“They have a really good team of people,” Taylor says. “We had some early issues with temperature gauges on their equipment, but their people helped us get those issues fixed. Their equipment has worked flawlessly; we haven’t had one real issue.”
Temperature and humidity are crucial in keeping product quality high, as a non-suitable environment can result in product contamination, mold growth, degradation of raw materials and other costly problems.
About PM Growers
Opened: 2017
Location: Bangor, Mich.
Cultivation Space: 12,000 sq. ft.
No. of Employees: 20
Products/Services Offered: Flower, which is sold to consumers at a cannabis provisioning center
Many inexperienced indoor growers suffer mold and yeast issues that contaminate their plants. Thanks to Surna technology, PM Growers’ fungal spore count hovers at a more-than-acceptable 10,000 parts per million (ppm).
Although investing in environmental control systems can be costly, the results more than pay for themselves, notes Taylor. PM Growers is currently preparing to enter the adult-use cannabis space, while a new extraction lab is set to launch later this year. A clean growing facility is boosting the company’s registry of customers, many of whom are dealing with chronic pain or persistent muscle spasms.
“We’re trying to grow a premium material, because we want our customers to have the best,” Taylor says. “We have people who are coming from 150 miles away. Surna’s equipment is working very well for us.”
Learn more at surna.com
Several filings ago Surna reported earnings about a week before it was due/expected. Surprise positive earnings can catch the those shorting a company off guard and force them to the buy window as the share price escalates.
I dont know for certain if companies on the Quebec exchange can short pennystocks...
45 days for quarterly filings. 90 days for annual filings. Look for it around March 20. Last year was late (Jun) due to covid complications.
My perspective is that Surna would have conducted private financing and dilute the stock if cash was draining. Instead, getting a bank loan is a sign of confidence for the future.
Surna's market cap in the 2ndH of 2020 hovered around $7-9 million. Rarely over 1m shares traded in a day though at $02-$.04 nearly all of that period. Some days there were less than 100K shares of volume.
At that time a capital raise of $500K would have required at least 25m shares. That is over 10% dilution.
Instead, Surna qualifies for a bank loan of $500K for working capital purposes. Is the loan for use as a forward investment to cover new business expenses? Or they can't pay rent?
The filing announcement by Surna - after Friday market close before a 3-day weekend - is curious.
If all is good, Surna would be in a better acquisition position. If all ain't so good, that loan will be the dagger that crushes Surna when the lights go out.
On Tuesday (Monday holiday) the market will place its action. Is this filing a buy or sell signal?
The last shareholder letter was Feb 25 2020. I'm not sure if there has ever been a shareholder meeting. It will be interesting to see what comes next. Good luck to all.
Item 8.01 Other Events.
On February 10, 2021, Surna Inc. (the “Company”) received funding based on a loan agreement entered into on February 9, 2021 with its current bank in the principal amount of $514,200 for working capital purposes. Consistent with the loan provisions, the Company will use the proceeds to meet payroll and benefit expenses as well as for rent and utilities. The loan amount bears interest at 1% and is due on February 5, 2026. The loan may be repaid in advance without penalty. The loan has typical default provisions, including for change of ownership, general lender insecurity as to repayment, non-payment of amounts due, defaults on other debt instruments, insolvency, dissolution or termination of the business as a going concern and bankruptcy.
The press release from January 14 illustrates the difference that Tony McDonald has made at Surna.
The pre-McDonald Surna would offer the mechanical engineering with a shot at getting a more expensive liquid cooler (rough version)
(the mechanical engineering design was done by Surna through a previous contract in October)
Under McDonald's direction Surna has added equipment that drives revenue beyond the engineering contract...
..."Surna is under contract to provide custom air handlers, heat recovery chillers, and its StrataAir™ vertical racking air flow system, for the cultivation, processing, drying and office spaces".
So the mechancial engineering contract in October generates the January press release including extensive equipment. With five states approving cannabis laws in November we can only hope there are more of these seeds planted since that October design contract...
Surna Announces Largest Contract in its History
Announces $3.2 Million Sales Contract, Surpassing Previous Record of $2.8 Million
Boulder, Colorado, January 14, 2021 –– Surna Inc. (OTCQB: SRNA) announced today that it recently signed a sales contract valued at $3.2 million. The project in Arizona is for an approximately 53,000 square feet facility. Surna is under contract to provide custom air handlers, heat recovery chillers, and its StrataAir™ vertical racking air flow system, for the cultivation, processing, drying and office spaces (the mechanical engineering design was done by Surna through a previous contract in October). Surna will also provide its SentryIQ® environmental controls, and system start-up.
Tony McDonald, CEO commented: “For the second time in six months Surna is announcing its largest-ever single contract with this latest contract being nearly 15% larger than the previous record. Over the last several years Surna has invested heavily in technology R&D as well as in our engineering capabilities. The result has been an expanding portfolio of product and system offerings and enhanced engineering sophistication. With Surna’s expanded array of technology offerings, our engineering and sales teams were able to present several options to the client, giving them the opportunity to compare and contrast design approaches and choose the solution best tailored to their particular goals, budget and cultivation methods.”
Pink - Perhaps I misunderstand the employee stock options concept and should have researched prior to posting. I thought the incentive was that the employee retained a right to purchase shares at the agreed upon price (7.8 cents in this case) with no financial layout.
So, if the shares went higher, to a dollar for example, the employee could execute sale of their shares by paying 7.8 cents per share. The share certificate gets the stamp removed and can be sold (at $1) or put into the employees account for later execution. I thought that a payment by the employee to Surna was required to execute the option. All wrong? If so, who pays the 7.8 cents? Do you know?
This information may provide more assets for a Surna acquisition...
In slide 9 of the Investor Presentation (issued Nov 12 2020) under Capitalization it shows the "Potentially Dilutive Securities". Investor Warrants are listed as 22,295,500 shares with an average exercise price of $0.22 oer share. It also lists an average expiration of five months (from Sep 30 as indicated in the graph). Five months ends at the end of February 2021. It is safe to assume many expired at the end of Dec 2020. We'll find out in the March filing.
Also listed are Director and Employee Stock Options of 21,711,000 shares with an average exercise price of $0.078 per share. No expiration is noted. Once exercise those shares, though dilutive, would generate $1,693,458 in cash.
https://s3.amazonaws.com/cdn.irdirect.net/PIR/699/4997/Investor%20Presentation%20Q32020_11-12.pdf
Surna is listed in this research as a "key player" in the table of contents...
Cannabis Dehumidifiers Market Strategic Assessment, Growth Analysis and Research Outlook 2021-2026
Global Cannabis Dehumidifiers Market Growth 2020-2025
Published on: Jan 2021 | From USD $3660 | Published By: LP INFORMATION INC. | Number Of Pages: 133
https://www.marketinsightsreports.com/reports/01122520829/global-cannabis-dehumidifiers-market-growth-2020-2025?Source=EX&mode=31
12 Key Players Analysis
12.1 DryGair Energies
12.1.1 Company Information
12.1.2 Cannabis Dehumidifiers Product Offered
12.1.3 DryGair Energies Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.1.4 Main Business Overview
12.1.5 DryGair Energies Latest Developments
12.2 Dehumidifier Corporation of America
12.2.1 Company Information
12.2.2 Cannabis Dehumidifiers Product Offered
12.2.3 Dehumidifier Corporation of America Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.2.4 Main Business Overview
12.2.5 Dehumidifier Corporation of America Latest Developments
12.3 Subcooled Air
12.3.1 Company Information
12.3.2 Cannabis Dehumidifiers Product Offered
12.3.3 Subcooled Air Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.3.4 Main Business Overview
12.3.5 Subcooled Air Latest Developments
12.4 Desert Aire
12.4.1 Company Information
12.4.2 Cannabis Dehumidifiers Product Offered
12.4.3 Desert Aire Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.4.4 Main Business Overview
12.4.5 Desert Aire Latest Developments
12.5 STULZ Air Technology Systems.
12.5.1 Company Information
12.5.2 Cannabis Dehumidifiers Product Offered
12.5.3 STULZ Air Technology Systems. Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.5.4 Main Business Overview
12.5.5 STULZ Air Technology Systems. Latest Developments
12.6 Surna
12.6.1 Company Information
12.6.2 Cannabis Dehumidifiers Product Offered
12.6.3 Surna Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.6.4 Main Business Overview
12.6.5 Surna Latest Developments
12.7 GGS Structures
12.7.1 Company Information
12.7.2 Cannabis Dehumidifiers Product Offered
12.7.3 GGS Structures Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.7.4 Main Business Overview
12.7.5 GGS Structures Latest Developments
12.8 Quest
12.8.1 Company Information
12.8.2 Cannabis Dehumidifiers Product Offered
12.8.3 Quest Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.8.4 Main Business Overview
12.8.5 Quest Latest Developments
12.9 Ecor Pro
12.9.1 Company Information
12.9.2 Cannabis Dehumidifiers Product Offered
12.9.3 Ecor Pro Cannabis Dehumidifiers Sales, Revenue, Price and Gross Margin (2018-2020)
12.9.4 Main Business Overview
12.9.5 Ecor Pro Latest Developments
Pink - This board is usually dormant. No pumpers. No trolls. When it makes a run there are informative posts from Surna shareholders that have held for 4-5 years. Mostly exuberance for a long awaited lift-off in this burgeoning industry. Cheer up and join the fun.
Just a few weeks ago the market cap was under $5m, The run to $0.20 raised the market cap to nearly $50m for a few hours. The decline pulls the market cap back to $22m. Surna will burst past that number very soon in my opinion.
An important number to consider is the $8.2m backlog reported in the 3Q filing. That was an increase of 50% over the previous quarter. Then, a record contract in Jan 2021.
The 2020 EOY is more likely to report double digit growth, increased profitability, increased cash on hand, and an increased backlog.
The GroAdvisors.com relationship was announced in April. It is a group of fifteen companies approaching the market to fill all the revenue streams in the cannibus production area. Those relationships may have already provided added value.
New products that are market-friendly are just entering the Surna portfolio. Most posts on this board should be favorable...
The share price may decline a bit but most of the posters on this board will buy on the dip. Best of luck to all of us.
from the Nov filing: "During the third quarter of 2020, we entered into new sales contracts totaling approximately $4.4 million, including
our largest-ever single contract for $2.8 million, most of which we expect to be realized as revenue in 2020."
from the Nov filing: "During the third quarter of 2020, we entered into new sales contracts totaling approximately $4.4 million, including
our largest-ever single contract for $2.8 million, most of which we expect to be realized as revenue in 2020."
and a $554K loan that will switch columns on the spreadsheet...
there was over $2mil in cash as well which was for pre-paid inventory I believe...
Revenue
Q4 2019 - $3.7m
Q1 2020 - $1.8m
Q2 2020 - $1.7m
Q3 2020 - $1.6m
The July contract for $2.8m was going to register in the 2ndH 2020. Hardly any revenue registered in Q3 so I am expecting a sizable 4Q. It also appears that Surna only issues press releases when new records are reached. There may be several $1m contracts that were not newsworthy - that should not surprise.
For 4Q filing in mid-March expect double digit growth over previous year's final quarter (vs $3.7m) and perhaps triple digit growth over most recent quarter (vs $1.6m).
Recurring revenues are also starting to generate. I'm expecting some acquisitions to pad revenue as 2021 rolls forward. GroAdvisor might be a secret weapon...
Filing Date Form Type Description View
Jan 11, 2021 8-K Current report html pdf
Item 8.01 Other Events.
On January 8, 2021, Surna entered into an advisor agreement with RSX Enterprises, Inc. (RSX), a company controlled by Mr. James R. Shipley, a director of Surna. RSX will provide advisory services to Surna focused on product offerings, engineering requirements, key customer marketing outreach, and related matters, as mutually determined by Surna and RSX. Surna will pay a monthly advisory fee of $6,500 for up to 50 hours per month for the various advisory activities undertaken and will provide for reimbursement of expenses. The term of the agreement is set for three months. Any intellectual property developed by RSX will belong to Surna, and the contract provides for typical indemnification obligations and confidentiality provisions.
...(Cowen cannabis analyst Vivien) Azer estimates more moderate reform could come first, perhaps in the form of a modified Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, which could allow cannabis companies to access traditional banking and financial services and alleviate burdensome federal taxes.
Cannabis stocks surge on hopes Democrats' win in Georgia could spark US legalization
Zack Guzman
·Senior Writer
Wed, January 6, 2021, 3:29 PM CST·2 min read
Cannabis stocks surged on Wednesday following the early results of Georgia’s key Senate runoffs that could open the door to federal cannabis reform.
Shares in Canadian cannabis giants, including Canopy Growth (CGC) and Tilray (TLRY), surged more than 10% while multi-state U.S. operators saw double-digit gains as well led by Green Thumb Industries’ (GTBIF) 8% gain.
With Democratic candidate Raphael Warnock claiming victory in his race against incumbent Sen. Kelly Loeffler (R -GA) and Democratic challenger Jon Ossoff winning his race against GOP Sen. David Perdue, Democrats took control of the Senate. That fuels hopes that prior roadblocks, including refusal on the part of Senate Majority Leader Mitch McConnell to bring cannabis reform bills to the chamber, could be removed to move legalization efforts forward on a national level.
In a new note, Cowen cannabis analyst Vivien Azer said the change of Senate control would catalyze constructive changes for the sector.
“With the Democrats likely taking control of the U.S. Senate, the backdrop for U.S. cannabis is now far more constructive than our base case had assumed,” she wrote. That view was echoed by Piper Sandler analyst Michael Lavery, who added that Democratic control of the Senate, “could help provide better access to capital, alleviate operating headwinds, and help drive industry growth.”
That said, even with control of the Senate, the margin of control would be slim to press for more progressive reforms such as the Vice President-elect Kamala Harris-backed Marijuana Opportunity Reinvestment and Expungement Act (MORE) Act which would decriminalize marijuana at a federal level. Azer estimates more moderate reform could come first, perhaps in the form of a modified Strengthening the Tenth Amendment Through Entrusting States (STATES) Act, which could allow cannabis companies to access traditional banking and financial services and alleviate burdensome federal taxes.
“To the extent that the industry is presented with an opportunity to lobby for either of these measures, we would expect a consensus to form around the STATES Act over the MORE Act,” she said.
The AdvisorShares U.S. multi-state operator focused ETF (MSOS) closed about 6% higher while the Canadian focused Alternative Harvest ETF (MJ) finished the day up about 7%.
"The pandemic will be behind us, new retail will be opening all over from licensing that occurred in 2021, and the rest of the supply chain will easily keep up, if not have oversupply," DeAngelo says, citing increased competition and more knowledgeable consumers to help make the market flourish."
The Roaring 2020s 'Will Be Fueled By Weed' As Cannabis Experts Predict Regulatory Shakeups In 2021
Andrew Ward
Mon, January 4, 2021, 7:28 AM CST·4 min read
Cannabis industry professionals tell Benzinga that 2021 should be a year of ongoing regulatory movement even as uncertainty lingers due to the Jan. 5 Georgia Senate runoffs. Experst in the space predict a year of reform, setting up for continued progress throughout the decade.
"Get out your flapper girl dresses and top hats; the roaring '20s are going to be fueled by weed, not booze, this century, and 2022 will be the starting point," Harborside Inc (OTC: HBORF) co-founder Andrew DeAngelo also elaborated says.
"From a regulatory perspective, more retail will be licensed in 2021 in all legal states, but they may not open until 2022," he adds. The next waves of markets to open should increase inclusive ownership by 2022.
Several States To Look At
Keep your eye on the Northeast, sources say. It's ripe for growth after New Jersey passed its ballot measure in November.
Alyssa Jank, U.S. Cannabis Manager at Brightfield Group, says New York and Pennsylvania will follow suit in 2021, along with Maryland and Connecticut.
"All of these states are bordering, or very near, New Jersey, and they likely realize that they will miss out on a big chunk of tax revenue to New Jersey if cannabis is not legalized in their states," Jank said.
Reform could also occur beyond the Northeast as well.
Morgan Fox, Director of Media Relations for the National Cannabis Industry Association (NCIA) says states with short legislative sessions and supportive lawmakers could make moves in the next 12 months. He highlighted New Mexico, which nearly passed a bill in 2020, and South Carolina, which prefiled two medical bills for the 2021 session.
Any movements in 2021 are likely to come from the legislature, with little chance that a ballot initiative comes up next year.
Looking ahead to 2022, Fox says, "There will almost certainly be several state ballots the following year, including in places like Idaho and Nebraska that were denied the ability to get on the ballot this year."
It will take time to implement any laws that pass in 2021, likely delaying its immediate impact.
Federal Government Predictions Difficult Until After Georgia Runoffs
After the Green Wave of Election Night 2020, sources are torn as to its reemergence in 2021.
Jank says that any future Green Waves would be federal government-led.
Reggie Snyder, an Atlanta-based partner at the firm Taylor English, believes that another Green Wave is possible in 2021 but is dependent on several factors, including the Georgia runoffs. That's because federal cannabis reform is unlikely to occur under a GOP-held Senate led by Mitch McConnell.
"If the Republicans maintain control of the Senate, then no currently pending marijuana legislation is probably going to make it through," he says. The recently House-passed MORE Act is awaiting a vote, as is the SAFE Banking Act and several other pieces of legislation.
"All of them are sitting there waiting their turn, but they won't get any real consideration," says Snyder should Republicans maintain a Senate majority.
"Should [McConnell] remain in a position to block even a vote, Executive Orders would be needed to provide the industry with the tax and banking relief it desperately needs," says Patricia Baldwin Gregory, general counsel for Pennsylvania's Keystone Canna Remedies.
While it has been long-asserted that a GOP-held Senate would pass on legislation, the Senate did approve legislation in December that expands the research of medical cannabis in the U.S.
Even if the stars align, 2021 may not produce sweeping reform like some hope for.
If reform doesn't happen this year, it will happen eventually, possibly in 2022, Snyder says.
"I think [2021] will be a transitional year, one of adjustment for the Biden administration and whomever he appoints to the various positions," he adds.
Looking Towards 2022
DeAngelo expects the coronavirus pandemic to continue to affect the market until at least the second quarter. The cannabis sector will rebound in the back half of the year, leading to more robust growth and increased revenues.
"I am not seeing a wave, but a rising tide," he says expecting 2022 to mark the biggest wave the reform movement has seen so far.
"The pandemic will be behind us, new retail will be opening all over from licensing that occurred in 2021, and the rest of the supply chain will easily keep up, if not have oversupply," DeAngelo says, citing increased competition and more knowledgeable consumers to help make the market flourish.
International markets in Mexico and Portugal are other nations that may also lead the cannabis industry into "its roaring '20s," he says.
Legal marijuana, paid sick leave, and more: 5 laws and regulations taking effect Jan. 1
Ben Werschkul·DC Producer
Thu, December 31, 2020, 9:26 AM CST·5 min read
Most lawmakers around the U.S. have adjourned until the new year, but some of their work is just about to be felt in a range of new laws and regulations set to go into effect on Jan. 1.
These new rules touch on many areas of life from distracted driving to marijuana to paid sick leave — here’s a sampling of changes that will affect the workplace, business, and financial markets in 2021.
Marijuana becomes legal in New Jersey and Montana
Five state marijuana initiatives passed in November, with recreational weed being legalized in New Jersey and Montana starting on Jan. 1. Marijuana is set to become fully legal to use in Montana this weekend but not yet legal to sell commercially until 2022.
However, New Jersey may find itself in a legal gray zone as state lawmakers are still negotiating legislation meant to accompany the constitutional amendment legalizing recreational marijuana.
“There is some important, I want to say, technical, but important things we’re trying to wrinkle out,” New Jersey Governor Phil Murphy told a local television station this week.
Voters in Arizona, Mississippi, and South Dakota also approved legalized weed in November. Arizona’s recreational marijuana law already went into effect in November. South Dakota voted to simultaneously legalize recreational and medical marijuana, but the state’s governor has filed a lawsuit seeking to block the measure. For their part, Mississippi citizens only voted to legalize medical marijuana, leaving recreational use illegal there.
The changes appear set to help the U.S. cannabis sector grow by an additional $9 billion in revenue between 2022 and 2025, according to one industry tracker.
I'm hoping that the Arizona market is friendly to Surna...
Boulder, Colorado, August 25, 2020 –– Surna Inc. (OTCQB: SRNA) today announced an expansion of its portfolio of services and products. While Surna has been historically known for its expertise in 2 and 4-pipe chilled water solutions (also known as hydronic cooling and dehumidification), its new technology offerings include:
• Direct expansion (DX) units with standalone dehumidification options, including split systems, mini-splits
and packaged roof top units (RTUs).
• Complex DX system options with integrated dehumidification via hot gas reheat and wintertime
economization.
• Desiccant solutions for low humidity applications.
• Racking solutions for optimal airflow designs in tiered layouts.
How was Surna able to report over $2million in cash?
Vote is today
...The bill is likely to pass the chamber, but the Republican-controlled Senate is unlikely to take up the legislation in the last two weeks Congress is in session this year...
https://www.usatoday.com/story/news/politics/2020/12/04/legal-weed-house-vote-marijuana-legalization-bill/3791933001/
House of Representatives to vote on marijuana legalization bill
Nicholas Wu
USA TODAY
Published 5:00am ETA, December 4, 2020
WASHINGTON – The Democratic-controlled House of Representatives is set to vote on marijuana legalization at the federal level Friday, the first time either chamber of Congress has voted on the matter.
The bill is likely to pass the chamber, but the Republican-controlled Senate is unlikely to take up the legislation in the last two weeks Congress is in session this year.
The measure, sponsored by Rep. Jerry Nadler, D-N.Y., would remove marijuana from the federal list of controlled substances and expunge some marijuana-related criminal records. It would still be up to states to pass their own regulations on the sale of marijuana.
Nadler told USA TODAY in September the vote on the bill would be a "historic vote" as the federal government put an end to its "40-year, very misguided crusade" against marijuana.
He highlighted provisions in the MORE Act that fund community programs to benefit people previously convicted of marijuana-related offenses. He said the provisions were about "making people whole from harms suffered directly as a result of the marijuana ban," which he said disproportionately affected racial minorities.
Advocates see the vote as a part of a move toward "justice."
"With this vote, Congress is recognizing the disproportionate impact enforcement has had on our communities and calling for the unjust status quo to be disrupted," said Maritza Perez, director of the office of national affairs at the Drug Policy Alliance, a group advocating for the decriminalization of drugs.
An ACLU report analyzing marijuana-related arrests from 2010 to 2018 found that Black people were 3.64 times more likely than white people to be arrested for marijuana possession.
The bill's likely passage comes as more states have legalized marijuana and public opinions on the topic have shifted.
Four more states passed marijuana legalization measures in the November elections, bringing the total number of states with legal marijuana use for adults to 15. Medical marijuana is legal in 36 states.
A planned vote on the legislation was shelved in October following a backlash from moderate Democrats, who had expressed concern about the effort to pass the marijuana legalization bill before the election, amid the impasse on COVID-19 stimulus negotiations.
Rep. Conor Lamb, D-Pa., a moderate Democrat who faced a close reelection race this year, voiced a similar concern Tuesday, as Congress remains deadlocked over a stimulus bill, writing on Twitter that while marijuana decriminalization was important, House Democrats' focus should be on "nothing else" besides COVID-19 relief.
Republicans have also criticized Democrats for moving on marijuana legalization despite other major concerns before Congress.
House Minority Leader Kevin McCarthy, R-Calif., told reporters Thursday Democrats were "focused on cats and cannabis instead of COVID."
And Senate Republicans quipped Democrats had decided to "'puff, puff, pass' on job-saving PPP and COVID relief."
https://finance.yahoo.com/news/house-gets-ready-for-historic-vote-on-federal-marijuana-prohibition-192829701.html
House gets ready for historic vote on federal marijuana prohibition
Jessica Smith
·Reporter
Wed, December 2, 2020, 1:28 PM CST·6 min read
This week the U.S. House of Representatives is expected to vote on a bill that would remove marijuana from the Controlled Substances Act and require federal courts to expunge many prior marijuana offenses. It will be the first time the full House will vote on ending the federal prohibition of cannabis.
Morgan Fox with the National Cannabis Industry Association says House passage would “send a really strong message to not only the rest of Congress, but to a lot of other states that the time to end prohibition has come.”
The Marijuana Opportunity Reinvestment and Expungement Act (MORE Act), introduced by Rep. Jerry Nadler (D., N.Y.), would eliminate conflict between state and federal law and allow states to set their own marijuana policies.
“We don't need to have one size fits all. We just need to get rid of prohibition and then let the states do what the states are doing. It's essentially what the states have done already. They haven’t waited for the federal government, which is why we have a lot of these discrepancies and challenges,” said Rep. Earl Blumenauer (D., Ore.), who has long pushed for marijuana legalization.
Blumenauer and Rep. Barbara Lee (D., Calif.) — who also wrote parts of the legislation — told Yahoo Finance the bill is a racial justice issue.
“It’s coming at a time when Americans are recognizing how hopelessly flawed the criminal justice system is,” said Blumenauer.
‘You’ve got to repair the damage’
The MORE Act would impose a 5% sales tax on marijuana and marijuana products. The revenue would go toward a new trust fund for grant programs designed to help people “adversely impacted by the War on Drugs” access job training, re-entry services, legal aid, treatment and more. The bill would also provide protections prohibiting denial of federal benefits based on use, possession or conviction for a marijuana offense.
“Regardless of who you are, if you've been incarcerated and if you've done your time and you get out, you should be provided for a second chance,” Lee told Yahoo Finance. “When you've been incarcerated or when you have have a record based on unjust laws — they're really targeted in many ways, Black and Brown people — then you've got to make restitution, you've got to repair the damage. This fund is about the time that was lost because of barriers to employment, because of incarceration.”
The MORE Act would open up more opportunities for marijuana businesses, including access to Small Business Administration funding. It would also require the Bureau of Labor Statistics to gather demographic data on cannabis business owners and employees to ensure people of color and economically disadvantaged people are taking part in the industry.
“That really sets out a process for equity in the industry. This is a job-creating industry, and it also provides economic opportunities for minority-owned business owners,” said Lee.
The House Judiciary Committee passed the MORE Act last year 24 to 10 — Rep. Matt Gaetz (R., Fla.) and Rep. Tom McClintock (R., Calif.) were the only Republicans who voted for the bill.
In an interview with Yahoo Finance, McClintock said while he didn’t endorse marijuana, it’s clear U.S. marijuana laws have “not accomplished their goals.”
“These laws have done far more harm than good. They've created a violent underground economy and ruined the lives of so many young people who’ve had a youthful marijuana conviction, follow them and ruin their lives,” said McClintock.
The House was scheduled to vote on the bill in September, but Democratic leadership postponed the vote because some members in tight races worried passing the MORE Act before a stimulus package could hurt them at the polls.
Nearly a month after the election, there is still no additional coronavirus relief and many Republicans are again slamming Democrats for what they see as prioritizing the cannabis bill over coronavirus relief efforts.
Democrats have already passed two versions of the Heroes Act and argue it’s the Trump administration and Republican Senate that’s holding up stimulus talks.
This week, your House Democrat majority is tackling the tough issues by holding a vote on legalizing pot and banning tiger ownership.
Nothing for small businesses.
Nothing for re-opening schools.
Nothing on battling the pandemic.
Just cannabis and cats.
— Kevin McCarthy (@GOPLeader) November 30, 2020
“Passing the MORE Act is an opportunity to put an end to decades-long racial injustice against Black and brown communities. Maybe some are comfortable letting that fall down the priority list, but we are moving full speed ahead to pass the MORE Act, end the harmful prohibition of cannabis, and continue working to deliver desperately needed COVID relief to families in need,” Lee said in a statement to Yahoo Finance.
‘The momentum is building’
Marijuana proved popular with voters on Election Day, as five states passed legalization measures. In a debate earlier this fall, Vice President-elect Kamala Harris — who introduced the MORE Act in the Senate — pledged a Biden administration would decriminalize marijuana and expunge marijuana-use convictions.
Supporters acknowledge the bill could face an uphill battle in the Senate — especially if Republicans maintain control of the upper chamber. But they argue House passage would be more than a symbolic victory.
“It will allow advocates to be able to really be able to figure out exactly who supports what and help us determine who we still need to convince,” said Fox of the National Cannabis Industry Association.
Polls show an increasing number of Americans support relaxing marijuana laws. Last month, Gallup found 68% of adults — a record high percentage — want to see marijuana legalized.
Blumenauer said this issue motivates young voters, and skeptical lawmakers should keep that in mind.
“This is an issue that has galloped ahead of the politicians,” said Blumenauer. “The momentum is building. So if people are going to be on the wrong side of this, there will be a political price that will be paid.”