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now that's some serious groundwork...
Shares Outstanding
2012 76.89 million
2013 99.04 million
2014 174.3 million
2015 240.19 million
2016 389.36 million
2017 46.07 million (adjusted)
2018 70.85 million (end of Q2), (8/6 - 72,189,614)
* Some serious shareholder equity was created building facilities, getting licenses and laying the ground work to dominate.
2013 99.04 million
Total Revenue 2,125,851
Total Liabilities and Stockholders’ Equity 4,040,585
https://www.sec.gov/Archives/edgar/data/1451512/000147793214001462/trtc_10k.htm
2014 174.3 million
Total Revenue 7,094,270
Total Liabilities and Stockholders’ Equity 7,719,226
https://www.sec.gov/Archives/edgar/data/1451512/000147793215001943/trtc_10k.htm
2015 240.19 million
Total Revenue 9,975,346
Total Liabilities and Stockholders’ Equity 9,165,039
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2016 389.36 million
Total revenue 25,327,764
Total Liabilities and Stockholders’ Equity 76,178,130
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2017 46.1 million
Total revenue 35,800,844
Total Liabilities and Stockholders’ Equity 98,187,799
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
2018 68.7 million (end of Q2)
Total revenue 17,333,543 (end of Q2)
Total Liabilities and Stockholders’ Equity 109,791,013 (end of Q2)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003910/trtc_10q.htm
business is blüming!!!
Skating to where the puck is going
DP on Cali...
“We expect to achieve a footprint within California markets throughout 2018 that allows for us to produce 20,000 pounds of product per year of cannabis. In Oakland, let’s start there, we’re currently constructing a 13,000-square-foot cultivation facility. That will be coming online later this year. That facility, in and of itself is gonna have the ability to produce one metric ton of cannabis per year. We received a provisional cultivation permit in Q2 2017 and expect to be fully operational by mid-2018.
This location will obviously supply our Bloom Oakland dispensary, which has been operated by us since April 2016 after we acquired it, and we’ve got a great location. There, again, we’re seeing about a thousand patients a day out of our retail footprint in the Oakland marketplace. And this will, again, feed the IVXX brand through multiple stores, but it’ll be a great driver of product with low margins through our retail footprint in Oakland, California.
Santa Ana, as you know, we acquired a dispensary there. The fourth quarter was full first quarter revenues for us out the of Santa Ana location. We’ve got great brand recognition down here in the Southern California marketplace. I think people have been waiting for the Bloom and the IVXX brand to arrive in SoCal for some times. Santa Ana has created a great platform for us to be able to build a significant business down here. They’ve taken a spot leadership standpoint to be the Southern California hub for cannabis activities.”
“on February 1st, we submitted applications to open two additional retail dispensaries in Santa Ana, and we expect the city to announce whether these are approved in the next couple of months. In San Leandro for some of the new people joining the call, we’ve been contracting a new Bloom dispensary, as well as an extraction facility, laboratory, and commercial kitchen.
That is currently underway. They’re gonna open up a different time. The retail facility will open up some time in May, and then we’re thinking the latter part of Q2, early Q3 for the extraction in the facility to go along with that. We think those are gonna be great facilities for us, but we’ll start to see some revenue being driven out of the retail position, we’re hoping sometime in May depending on the local and state licensing”
“…in California, we have our Oakland retail dispensary; we have our Santa Ana retail dispensary, and we have our San Leandro retail dispensary that we’re gonna be opening up here in the not too distant future. But in condition to that, we have the large-scale cultivation facility that we’re building in Oakland right now. We have the onsite cultivation facility that’s part of our Oakland campus. It’s not gigantic, but it produces a couple million dollars of produce on an annual basis. That facility has been in operation for some time now.
But in addition to that, we’ve just purchased a large-scale facility down here in Santa Ana California. We bought an 11.5-million-dollar campus in Santa Ana, where we applied for new retail permits. And as soon as they open up the opportunity to apply for additional cultivation and extraction permits, we’re going to hopefully be building out a large-scale complex and campus down here in Southern California that will house extraction and cultivation, as well as an unbelievably located retail storefront on an very major busy intersection for us here in the Santa Ana marketplace.
So we acquired 44,000-square-feet on three acres, and we’re going through the permitting process there right now. And, again, that’ll be another use of capital over the next year and a half to build all these facilities out, so that we can obviously expand our cultivation and footprint our extraction footprint and be able to have enough product out there to service our existing retail footprint, but also to have a strong wholesale presence in the marketplace throughout California.”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
DP on Nevada...
“…in Nevada, we’ve got four retail dispensaries, three in Las Vegas, one in the Reno marketplace. We’ve just finished a 30,000-square-foot cultivation facility, and we’ve got a 15,000-square-foot extraction lab to produce the concentrates, oil lines, and those types of things for the Nevada marketplace. Again, not only for our stores, and New Leaf stores, but also for all the retail storefronts in multiple marketplaces throughout Nevada.
There’s the potential that they’re gonna issue additional permits in Nevada for additional retail locations. We’re not sure what’s going to happen with that just yet, but we do know for certain they’re only going to issue those permits to existing owners of retail dispensaries, so we’ll be able to maintain our market saturation and avoid outside competition from new players coming in and eroding our market share.
We are also planning and building one of our other cultivation permits that we won in Spanish Springs, so not too far away from the existing cultivation facility. We’re in planning and design right now for the construction of a one-acre greenhouse facility. Again, the benefits of greenhouse cultivation is the cost to productions are a lot cheaper. It provides a tremendous amount of feedstock for our traction line so we can produce more edibles and concentrates, and those types of things for the Nevada marketplace as well. So that’s our current footprint and our expanding footprint coming up over the next year and a half there as well.”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
DP on New Jersey...
“So where have we spent our money, and where are we going to spend our money? So in New Jersey, for example, we built ourselves a significant footprint across the country. I just want to kind of itemize that because I know we have a lot of new shareholders on the call. We went from 50,000 to 115,000 over the course of a little over a year. So I want to make sure everybody understands what kind of our geographic footprint right now looks like.
So we’ve got a 250,000-square-foot fully glass, fully automated cultivation facility in New Jersey that we grow produce. Again, our intention there is to open up retail dispensaries in New Jersey. Obviously, a big cultivation and extraction backbone on our facilities back there, leverage our current infrastructure, and reduce our time to market. So our hope is opening up multiple retail dispensaries, and obviously having the cultivation extraction backbone utilizing the existing footprint we have in the New Jersey marketplace.”
"...even more so as we work in Nevada on the legislation, the regulatory environment that’s shifting over there now with Chris Christie out, and the entering of Governor Murphy that’s made it a significant stand on his campaign to legalize adult use cannabis in New Jersey. So, first and foremost, the first thing they’re going to do is expand, rapidly, the medical program by the issuance of additional licenses and cultivation extraction in retail."
"...While that’s happening, the secondary approach is to get some framework for regulation around adult use within the state. The beauty of us is we have existing infrastructures that we’ve set back there. We have corporate offices. We have HR. We have admin. We obviously have the Capex of the facility that we built back there. The pack house could come in to potentially host an extraction facility."
"So at the end of the day, we’re relatively ramped up to semblance of first mover advantage for a second round here, and we’re working heavily right now lobbying to guide the regulations to make sure that we have the ability to produce that product at the New Jersey facility. Financing and reverse split. So as many of you see, we’ve got lots of opportunity to build our business in multiple markets..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
business is blüming!!!
Will Panther Gap Farms deliver again?
”…On May 24, 2017, we announced the launch of a new “Craft Cultivation” model to expand our cultivation capabilities and the signing of our first “Craft Cultivator” in Northern California under the name Panther Gap Farms. This farm, which is approved for up to one full acre (approximately 44,000 square feet) of cannabis cultivation and uses 22,000 square feet of engineered greenhouse space, is estimated to yield approximately one metric ton of our proprietary high grade “IVXX” cannabis on an annual basis….
”…During the year ended December 31, 2017, we purchased 2,000 pounds from this cultivator...”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud.
Dp confirms, in the Virtual Investors Conference Call just recently, that trtc has indeed exercised the option to renew both the yearly lease and the yearly operating contract with expert grower and "Craft Cultivator" Panther Gap Farms.
http://www.virtualinvestorconferences.com/agenda-june2018.html
Quote:
________________________________________
"On May 23, 2017, the Company entered into a one-year operating agreement with Panther Gap Farms pursuant to which Panther Gap Farms will grow up to approximately one metric ton of the Company’s IVXX cannabis annually. The operating agreement is renewable, upon mutual agreement between Panther Gap Farms and the Company, for up to three additional terms of one year each. The agreement requires the Company to issue common stock, with a value of $1,150,000, upon execution of the agreement, which the Company issued in August 2017 and held in escrow. In addition to the common stock, the Company is required to issue common stock, with a value of $785,500, for the profit share of the cannabis ultimately sold by the Company upon execution of the agreement. Panther Gap Farms has the right to receive up to $100,000 in cash in lieu of receiving the common stock related to the net profit share. If Panther Gap Farms requests such cash payment, the amount of common stock to be delivered will be reduced by an amount equal to the amount of such cash divided by the lower of the closing price or the 30 day VWAP of common stock on the date of the agreement. The shares to be received by Panther Gap Farms under the profit share agreement are dependent on the ultimate profit recognized by the Company when the cannabis product is sold.
The Company and Panther Gap Farms also entered into a lease agreement pursuant to which the Company leases the property on which the cannabis is grown. The lease agreement requires monthly payments of $30,000 for eight months and is also renewable for up to three additional terms of one year each."
https://ir.terratechcorp.com/all-sec-filings#document-5441-0001477932-18-001325
DP clearly stated either on the Annual or the '18 quarterly how much cannabis was purchased. Has I have stated a few times now, "In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud."
Annual
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
Quarterly (Q1 2018)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002303/trtc_10q.htm
Prices in california are averaging $296.00 an ounce according to
https://marijuanarates.com/blog/california-marijuana-prices
so 2,000 lbs is 32,000 ounces multiplied by $296. Works out to around $9,472,000.00.
So they spent $2,175,000 and got back $9,472,000 in return, leaving trtc to collect $7,297,000.
I'll take that ALL DAY LONG!!!
Humboldt County - America's Marijuana Capital!
"...The property is located in Honeydew, CA, in Southern Humboldt County, in an area known as the "Emerald Triangle" that is home to some of the world's highest quality cannabis products...."
(pics on “intro” page)
https://www.terratechcorp.com/news-media/press-releases/detail/190/terra-tech-%20corp-expands-cannabis-cultivation-capabilities
"...Northern California is, hands down, the cannabis capital of the world, and with 20 years of dipping their toes in regulations behind them, the Bay Area and Emerald Triangle are ready for the post-prohibition era..."
https://www.freedomleaf.com/cannabis-innovations-northern-california/
a few other things to note;
* that 2000lbs delivered was in 2017, they could have easily taken another delivery of top notch product since then. After all the 1 year renewable contract started on May 24, 2017. Any additional marijuana delivered from Jan '18 to May 23, '18 would increase that 2,000 lbs accordingly.
* also, IP has a much better grasp on the actual dollar amounts, For instance, The big sticky buds on top are worth more than the smaller branch buds etc...
No matter it was a Great Deal made by DP!
no wonder...
business is blüming!!!
rapid expansion
trtc Awarded two additional Permits in Santa Ana
"...pleased to announce it has been granted two permits by the City of Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana..."
"...commenced operating and managing a cannabis dispensary in Santa Ana. We are proud to have successfully leveraged this first mover advantage to obtain two new retail permits and expand our presence in Orange County..."
"...The first dispensary will be located at 620 East Dyer Road, with plans to become a fully vertical cannabis complex. The Company purchased this 44,000 square foot facility in January 2018, to expand its presence in Southern California. Following the receipt of the permit, the Company will avail itself of the opportunity to acquire vertically integrated permits from City of Santa Ana to conduct cultivation, distribution, and manufacturing on site. The Company plans to develop the property to include a retail dispensary; increase the size of the facility to over 50,000 square feet and transform it into a vertically integrated cannabis complex. In addition, the Company plans to include an event facility to host large-scale cannabis themed events, such as concerts and movie nights. The Dyer Road facility is adjacent to the 55 Freeway and acts as an entry point into the Southern California marketplace, allowing the Company to benefit from the area’s high population density and traffic. Potential revenues from the retail dispensary, when at full capacity and under current market conditions, are expected to be between $7 million and $10 million per year..."
"...The second dispensary will be located at 1815 E. Carnegie Avenue. The Company also plans to apply for cultivation, manufacturing and distribution permits at this location. Terra Tech selected this 30,000 square foot location because it borders Irvine and Tustin, which have a combined population of over 350,000 residents and have no cannabis dispensaries. The Company believes this strategic location will allow it to serve as a delivery hub to Orange County, opening a new untapped market...."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003633/trtc_ex991.htm
trtc Secures Stake in 10th Retail Permit
"...pleased to announce that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, and therefore the associated permit, is held by other members of the collective, with whom Terra Tech partnered in order to complete the permit application process...."
"...Terra Tech covered the costs of the permit application and Terra Tech’s wholly-owned subsidiary, Black Oak Gallery, will be responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003672/trtc_ex991.htm
continuing its rapid expansion...
"...the company just announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. According to the release, “On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana...."
"...The company operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
"Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations...."
"...“We are pleased to have leveraged our know-how and experience in the Santa Ana market to secure this retail permit with The Healing Tree Collective, without needing to expend significant time or resources to do so. As the cannabis market continues to mature we expect these permits to become more valuable. We believe that maximizing our first mover advantage by securing a stake in this permit may lead to additional revenue opportunities in the medium and longer term.”..."
"...has a significant war chest ($4.5M) of cash on the books, which is balanced by virtually no total current liabilities. TRTC is pulling in trailing 12-month revenues of $37.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 26.2%..."
https://oracledispatch.com/2018/07/27/terra-tech-corp-otcmktstrtc-continues-show-positive-signals/
business is blüming!!!
No doubt a big improvement
One of the many things that made the 40 million in 8 quarterly tranche's deal along with the rs such a great thing for the company is not only did it fix the share structure and enable expansion for another two years minimum but it was also a "see ya wouldn't wanna be ya" to the "dominions and the magna's" predatory lending practices common for otc lenders.
I've posted this a few times but I'm not sure the board remembers so I'll quote it below. Much much better rates and terms, still not on par with a legal biz but definitely much much better.
8 quarterly tranches of 5 million each
"...So that 40 million is coming in eight tranches of five million bucks each quarter over the next 24 months. And one the main reasons we did that we scoped out what our growth and Capex requirements are over the next two years. And we may move those timelines around a little bit..."
"...the capital raise essentially provided the company with enough growth capital to execute on the business model over the next 24 months. We believe these steps will fuel the growth of the company and help create value for shareholders..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
Financing, though not as good as what a 100% legal business entity could get, is getting better and better!
“…We saved about 20 percent in costs on this major capital investment that we’re bringing in versus the prior tranche that we’ve done….”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
details of 40 million financing.
"...7.5% Senior Convertible Promissory Note..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001290/trtc_424b5.htm
more details…
https://www.terratechcorp.com/news-media/press-releases/detail/217/terra-tech-corp-provides-strategic-business-update-for-2018
* straight from the filings...
"...Global alliance Partners offering securities through Euro Pacific Capital Inc..."
http://www.globalalliancepartners.com/partners/
http://www.europac.com/
seems to be a major upgrade from dominion and magna. There in 26 countries and I noticed that global alliance has a partner in NY and one in San Fran specializing in "mergers & acquisitions / corporate advisory"
http://terracap.com/corporate-advisorymergers-acquisitions/
terracap is short for terranova capital and it is the california office for Global Alliance Partners.
business is blüming!!!
Shareholders Enrichment Scheme
I hope that trtc is an "insider enrichment scheme" like so many have erroneously claimed. Since the insiders are all in the same boat as shareholders that would make trtc a "Shareholders Enrichment Scheme". After all if A = B and B = C then A = C (according to the transitive property of equality). Wouldn’t everyone agree? Oh wait a minute, facts don't care if anybody agree's or not, they just are...
Share lock up agreements
Derek Peterson - CEO and Chairman
https://www.sec.gov/Archives/edgar/data/1451512/000147793217006160/trtc_8k.htm
Alan Gladstone - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000223/trtc_8k.htm
Michael James - CFO
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000297/trtc_8k.htm
Michael Nahass - President, COO, Director, Secretary and Treasurer
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000486/trtc_8k.htm
Steven Ross - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000541/trtc_8k.htm
DP on lock-up agreements
"Yeah, we signed lockups. Everybody signed them at a little bit of a different time. So I think I signed mine in December. Some signed in January, and that type of thing. So it was a 12-month lockup. Just promising to our shareholders we wouldn’t liquidate any of our Terra Tech stock in that timeframe. And so, yeah, we’re committed to that. That won’t be something that we alleviate from because we think this is a big year for growth for us.
So I’m looking at it from selfish standpoint. I’m looking at it from the perspective of I see what’s happening with Kronos. I see what’s happening with these other Canadian companies that are trading with these multibillion dollar market caps with a revenue base and an asset base that’s nowhere near what we have. And I think a lot of that overhang is due to the federal issues, and the dichotomy between state and federal law.
And so, you know, you’ve seen sales from insiders over the history, and we’ve done that for all different purposes. You know, what I hope our shareholders understand in the past when we’ve had to sell, whether it’s for phantom income taxes, other taxes, or just general security, we work in an environment where we’re personally affected by the job that we do.
I’ve lost my personal bank accounts. I’ve lost my ability to get insurance. I’ve lost – you know, we’ve lost our kids’ college savings plans. We’ve been kicked out. Our retirement plans have been kicked out. I mean, I’ve had credit cards shut down on me, banking institutions shut down on me, personally. Forget the company for a standpoint. And I can tell you most of our officers and directors have experienced the same thing.
So the operation in this space comes at a personal cost. You know, that and scrubbing it against the reality of we could wake up one morning – I don’t think it’s gonna happen, but we certainly could wake up one morning, and the federal government could change its stance on the industry, get far more aggressive. We’ve seen some shots across the bow, and for all practical purposes, they could make an attempt to shut the industry down.
So we’ve all got children, and we’re all human beings at the same time. And we all need to make sure we’ve got some money in the bank so we can feed our family in the case that something like that happens. It’s outside the scope of anything that we could have gauged for, and certainly not something that we brought on. So for all practical purposes, we could be executing with perfection, but the opportunity could be stripped away from us. And we’ve seen it happen in gaming, you know, online gaming, you know, from a legislative or regulatory change.
But our commitment was we want to make sure we don’t sell any stock over the next 12 months. Our commitment to the shareholders on a lot of different things that we’ve done in the past is to align ourselves from that same standpoint. We experienced the reverse just the same as every other shareholder experiences the reverse. But I’m in this for the potential up listing downstream.
And, you know, having worked in Wall Street for ten years, and Mike had worked there for 15-17 years, you know, I know it’s a matter of time before that opportunity is available to us. And I know that opportunity should come with a significant opportunity for market cap expansion over where we are now in this illegal federal environment on the OTC. And so that just put us in the position to kind of save this opportunity for downstream.
I don’t know if it’s gonna happen in 12 months, but we are certainly positioning ourselves for that. And like I said before, the analogy is I want to make sure we’re standing on the front door with our tuxedo when the door opens for the party. I don’t want to be at home still getting ready, which was the catalyst for the reverse along with some other things, and it was the catalyst for the lockup."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
meanwhile...
business is blümming!!!
A Big Dose of Reality
trtc positions for growth in California, Nevada and New Jersey
https://soundcloud.com/newcannabisventures/terra-tech-positions-for-growth-in-california-nevada-and-new-jersey
Investor Presentation - August 2018
https://www.terratechcorp.com/news-media/presentations
https://d1io3yog0oux5.cloudfront.net/_05e749e66192835355facbfdf0098d26/terratechcorp/db/224/433/pdf/Terra+Tech+Investor+Presentation+August+2018+Final.pdf
trtc reports Record Revenues for 2017
https://www.nasdaq.com/press-release/terra-tech-corp-reports-record-revenues-for-year-end-december-31-2017-20180316-00787
trtc #1 in Revenue:
https://www.newcannabisventures.com/cannabis-company-revenue-ranking/
blüm "The People’s Choice" voted the TOP Dispensary in both Nevada and California!!!
https://www.thecannabist.co/2018/01/31/best-dispensaries-budtenders-2017/97990/
trtc one of the Top Four California weed stocks
https://www.potnetwork.com/news/here-are-4-best-california-weed-stocks-smart-investors
trtc ranked #10 on the otcqx Best 50 Companies
http://web.otcmarkets.com/otcqx-best-50/
trtc listed as THE top "fastest-growing public companies: small companies"
business is blüming!!!
now that's some serious groundwork...
Shares Outstanding
2012 76.89 million
2013 99.04 million
2014 174.3 million
2015 240.19 million
2016 389.36 million
2017 46.07 million (adjusted)
2018 70.85 million (end of Q2), (8/6 - 72,189,614)
* Some serious shareholder equity was created building facilities, getting licenses and laying the ground work to dominate.
2013 99.04 million
Total Revenue 2,125,851
Total Liabilities and Stockholders’ Equity 4,040,585
https://www.sec.gov/Archives/edgar/data/1451512/000147793214001462/trtc_10k.htm
2014 174.3 million
Total Revenue 7,094,270
Total Liabilities and Stockholders’ Equity 7,719,226
https://www.sec.gov/Archives/edgar/data/1451512/000147793215001943/trtc_10k.htm
2015 240.19 million
Total Revenue 9,975,346
Total Liabilities and Stockholders’ Equity 9,165,039
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2016 389.36 million
Total revenue 25,327,764
Total Liabilities and Stockholders’ Equity 76,178,130
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2017 46.1 million
Total revenue 35,800,844
Total Liabilities and Stockholders’ Equity 98,187,799
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
2018 68.7 million (end of Q2)
Total revenue 17,333,543 (end of Q2)
Total Liabilities and Stockholders’ Equity 109,791,013 (end of Q2)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003910/trtc_10q.htm
business is blüming!!!
** NV mj sales SOAR past expectations
"The Silver State’s marijuana industry is still in its infancy, but the cannabis market has raked in more than $30 million in tax revenue for the state so far. Retailers in Nevada have sold more than $195 million in cannabis during the first six months of its adult-use market..."
https://www.forbes.com/sites/monazhang/2018/02/26/nevada-makes-30-million-in-marijuana-taxes-during-first-six-months-of-sales/#40f11d513a7f
"...Four months into Colorado’s recreational market, dispensaries in the state saw $22.56 million in sales — a fraction of Nevada’s sales four months into its recreational marijuana program..."
"...Nevada’s adult-use marijuana market is driven by the tourist-friendly Las Vegas. Cannabis analytics firm New Frontier projects the state’s cannabis market to be worth $622 million by 2020..."
"...it looks like the state’s recreational marijuana market will keep up its impressive growth..."
https://www.forbes.com/sites/monazhang/2017/12/26/nevadas-recreational-marijuana-market-hits-38m-soars-past-colorado/2/#69773ccc7bc7
"...Nevada's recreational marijuana industry is on pace to reach $60 million in its first year, exceeding the state's projection of $50 million..."
http://kdwn.com/2018/02/28/nevada-marijuana-sales-exceed-financial-expectations/
"...With all due respect to Denver, Seattle, and Portland, Las Vegas is already the party capital of the world, and this is just an extension of that,” Ferrence said. “ There’s no question that the demand is ever going to relent..."
https://hightimes.com/news/marijuana-sales-in-nevada-exceed-stores-expectations/
"Legal marijuana sales in Nevada set another monthly record in May and are approaching the $500 million mark for the fiscal year...."
http://www.ktvn.com/story/38747892/nevada-pot-sales-set-another-monthly-record-in-may
”…has exceeded even their highest expectations, with sales and tax collections already surpassing year-end projections by 25 percent…”
https://www.reviewjournal.com/news/pot-news/marijuana-sales-in-1st-year-exceed-expectations-in-nevada/
business is blüming!!!
NJ Lawmakers tour blüms flagship location (Desert Inn) and like what they see!
https://www.scribd.com/document/371089301/New-Jersey-Lawmakers-Marijuana-Visit-to-Nevada
First blüm was voted "The People's Choice" ...
https://www.thecannabist.co/2018/01/31/best-dispensaries-budtenders-2017/97990/
and now confirmed by High Times…
"...You don’t grow a business to six locations in two separate states (with a seventh planned for San Leandro) without doing something right. Their inventory is unrivaled in the East Bay, with prices to match...."
https://hightimes.com/dispensaries/best-dispensaries-east-bay/
more on the blüm design...
"...to help educate patients and establish brand awareness, cannabis boutiques are moving away from that dim-lit, bland image by using vibrant color schemes and design elements to make lasting impressions with customers — and to reverse stigma..."
"...Blum, a pot retail operator owned by Terra Tech Corp., is focused on just that — patient care and safety and the reversal of stigma in the industry...."
https://www.bisnow.com/national/news/retail/marijuana-dispensaries-are-getting-facelifts-to-blaze-past-the-competition-87544
https://www.inc.com/will-yakowicz/ss-high-end-cannabis-dispensary-design-revenue.html
360 degree Tour
more on seed 2 sale
"...So, we’ve been pretty much a pure retail play and now we’re building our manufacturing infrastructure into the retail footprint. We’re going to continue to grow the retail footprint, but most of the product that we purchased is coming from the wholesale market and with the Dyer property, with the Hegenberger property, with 130 lights coming online at the onsite grow, plus the extraction facilities we’re going to be able to accommodate close to 50% of our own product from our own footprint.
the margin expansion that we’re going to anticipate associated with that should be significant and severe we’re pretty excited about the opportunity to ramp that up. We’re obviously also going to use that infrastructure for this continued development of our wholesale brand and to push that product out into the open marketplace. but again, the lowest hanging fruit for us is to utilize as much of that product as possible to push through our own retail channel for the margin expansion.
And it give me kind of an understanding of that, wholesale flour right now ranges anywhere from say, 1,800 to 3,000 for really good teak providers a pound. the cost of cultivation should be about 600 or 700 a pound for indoor cultivation, greenhouse 300, outdoor 100 in change. So, there’s a significant opportunity for us to get massive gross margin expansion once we light these facilities up, we’re excited about the one in Nevada coming online, the 30,000 square foot one, the extraction facility will be online in the not-too-distant future and over the next 12 to 16, 18 months, we’re going to start lighting up all this infrastructure.
the first being the onsite grow at Blüm in Hegenberger to support the retail footprint and then of course, the Dyer property and the extraction facilities coming on the tail end of that too, again add additional products for our seed-to-sale vertical integration strategy. So, we should see great gross margin improvement just organically off the permitted footprint that we have right not notwithstanding any other permits that we get organically or potential acquisitions that may take place.
So, our investment and infrastructure both on the retail and cultivation sides of the business, that’s really what’s going to enable us to maintain our position as one of the largest players in the market right now..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003921/trtc_ex992.htm
business is blüming!!!
Will Panther Gap Farms deliver again?
”…On May 24, 2017, we announced the launch of a new “Craft Cultivation” model to expand our cultivation capabilities and the signing of our first “Craft Cultivator” in Northern California under the name Panther Gap Farms. This farm, which is approved for up to one full acre (approximately 44,000 square feet) of cannabis cultivation and uses 22,000 square feet of engineered greenhouse space, is estimated to yield approximately one metric ton of our proprietary high grade “IVXX” cannabis on an annual basis….
”…During the year ended December 31, 2017, we purchased 2,000 pounds from this cultivator...”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud.
Dp confirms, in the Virtual Investors Conference Call just recently, that trtc has indeed exercised the option to renew both the yearly lease and the yearly operating contract with expert grower and "Craft Cultivator" Panther Gap Farms.
http://www.virtualinvestorconferences.com/agenda-june2018.html
Quote:
________________________________________
"On May 23, 2017, the Company entered into a one-year operating agreement with Panther Gap Farms pursuant to which Panther Gap Farms will grow up to approximately one metric ton of the Company’s IVXX cannabis annually. The operating agreement is renewable, upon mutual agreement between Panther Gap Farms and the Company, for up to three additional terms of one year each. The agreement requires the Company to issue common stock, with a value of $1,150,000, upon execution of the agreement, which the Company issued in August 2017 and held in escrow. In addition to the common stock, the Company is required to issue common stock, with a value of $785,500, for the profit share of the cannabis ultimately sold by the Company upon execution of the agreement. Panther Gap Farms has the right to receive up to $100,000 in cash in lieu of receiving the common stock related to the net profit share. If Panther Gap Farms requests such cash payment, the amount of common stock to be delivered will be reduced by an amount equal to the amount of such cash divided by the lower of the closing price or the 30 day VWAP of common stock on the date of the agreement. The shares to be received by Panther Gap Farms under the profit share agreement are dependent on the ultimate profit recognized by the Company when the cannabis product is sold.
The Company and Panther Gap Farms also entered into a lease agreement pursuant to which the Company leases the property on which the cannabis is grown. The lease agreement requires monthly payments of $30,000 for eight months and is also renewable for up to three additional terms of one year each."
https://ir.terratechcorp.com/all-sec-filings#document-5441-0001477932-18-001325
DP clearly stated either on the Annual or the '18 quarterly how much cannabis was purchased. Has I have stated a few times now, "In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud."
Annual
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
Quarterly (Q1 2018)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002303/trtc_10q.htm
Prices in california are averaging $296.00 an ounce according to
https://marijuanarates.com/blog/california-marijuana-prices
so 2,000 lbs is 32,000 ounces multiplied by $296. Works out to around $9,472,000.00.
So they spent $2,175,000 and got back $9,472,000 in return, leaving trtc to collect $7,297,000.
I'll take that ALL DAY LONG!!!
Humboldt County - America's Marijuana Capital!
"...The property is located in Honeydew, CA, in Southern Humboldt County, in an area known as the "Emerald Triangle" that is home to some of the world's highest quality cannabis products...."
(pics on “intro” page)
https://www.terratechcorp.com/news-media/press-releases/detail/190/terra-tech-%20corp-expands-cannabis-cultivation-capabilities
"...Northern California is, hands down, the cannabis capital of the world, and with 20 years of dipping their toes in regulations behind them, the Bay Area and Emerald Triangle are ready for the post-prohibition era..."
https://www.freedomleaf.com/cannabis-innovations-northern-california/
a few other things to note;
* that 2000lbs delivered was in 2017, they could have easily taken another delivery of top notch product since then. After all the 1 year renewable contract started on May 24, 2017. Any additional marijuana delivered from Jan '18 to May 23, '18 would increase that 2,000 lbs accordingly.
* also, IP has a much better grasp on the actual dollar amounts, For instance, The big sticky buds on top are worth more than the smaller branch buds etc...
No matter it was a Great Deal made by DP!
no wonder...
business is blüming!!!
rapid expansion
trtc Awarded two additional Permits in Santa Ana
"...pleased to announce it has been granted two permits by the City of Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana..."
"...commenced operating and managing a cannabis dispensary in Santa Ana. We are proud to have successfully leveraged this first mover advantage to obtain two new retail permits and expand our presence in Orange County..."
"...The first dispensary will be located at 620 East Dyer Road, with plans to become a fully vertical cannabis complex. The Company purchased this 44,000 square foot facility in January 2018, to expand its presence in Southern California. Following the receipt of the permit, the Company will avail itself of the opportunity to acquire vertically integrated permits from City of Santa Ana to conduct cultivation, distribution, and manufacturing on site. The Company plans to develop the property to include a retail dispensary; increase the size of the facility to over 50,000 square feet and transform it into a vertically integrated cannabis complex. In addition, the Company plans to include an event facility to host large-scale cannabis themed events, such as concerts and movie nights. The Dyer Road facility is adjacent to the 55 Freeway and acts as an entry point into the Southern California marketplace, allowing the Company to benefit from the area’s high population density and traffic. Potential revenues from the retail dispensary, when at full capacity and under current market conditions, are expected to be between $7 million and $10 million per year..."
"...The second dispensary will be located at 1815 E. Carnegie Avenue. The Company also plans to apply for cultivation, manufacturing and distribution permits at this location. Terra Tech selected this 30,000 square foot location because it borders Irvine and Tustin, which have a combined population of over 350,000 residents and have no cannabis dispensaries. The Company believes this strategic location will allow it to serve as a delivery hub to Orange County, opening a new untapped market...."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003633/trtc_ex991.htm
trtc Secures Stake in 10th Retail Permit
"...pleased to announce that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, and therefore the associated permit, is held by other members of the collective, with whom Terra Tech partnered in order to complete the permit application process...."
"...Terra Tech covered the costs of the permit application and Terra Tech’s wholly-owned subsidiary, Black Oak Gallery, will be responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003672/trtc_ex991.htm
continuing its rapid expansion...
"...the company just announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. According to the release, “On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana...."
"...The company operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
"Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations...."
"...“We are pleased to have leveraged our know-how and experience in the Santa Ana market to secure this retail permit with The Healing Tree Collective, without needing to expend significant time or resources to do so. As the cannabis market continues to mature we expect these permits to become more valuable. We believe that maximizing our first mover advantage by securing a stake in this permit may lead to additional revenue opportunities in the medium and longer term.”..."
"...has a significant war chest ($4.5M) of cash on the books, which is balanced by virtually no total current liabilities. TRTC is pulling in trailing 12-month revenues of $37.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 26.2%..."
https://oracledispatch.com/2018/07/27/terra-tech-corp-otcmktstrtc-continues-show-positive-signals/
business is blüming!!!
I wonder if there is a correlation here?
DP kicks the vv's to the curb and...
"... Edible Garden revenues increased 40% as our expanded offerings drove sales growth. Our gross profit for the first quarter ended March 31 2018 was $1.6 million compared to a gross profit margin of $400,000 for the first quarter ended March 31 2017, an increase of $1.7 million or 358.8%.
The Edible Garden herbs and produce segment gross profits increased from a negative $53,000 for the first quarter ended in March 31 of 2017 to positive $21,000 for the first quarter ended March 31st of 2018..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002325/trtc_ex992.htm
...revenues increase by 40% and gross profits increased by an astounding 358.8% - WoW!!
Here are a few key areas in the suit trtc has filed against the VV's.
could it all be related somehow? lmao
Definitely would NOT want to be in their shoes.
the VV's that is. Here is a few “lowlights” in the lawsuit trtc filed against the VV's and I for one can say I would not want to be in their shoes if this hits a courtroom, lol.
"…committed fraud against Terra Tech, stole its intellectual property, proprietary information, and usurped corporate opportunities intended for Terra Tech in order to benefit of GRO-RITE and NATURALLY BEAUTIFUL."
"…diverting Terra Tech opportunities to Vande Vrede family entities including but not limited to opportunities with Chill Waze, CBD Water and Cultivar, three companies that would have offered Terra Tech strategic and lucrative corporate alliances."
"…disseminating Terra Tech’s proprietary application documents and process to other entities for the benefit of the Vande Vrede entities including GRO-RITE."
"…failing to disclose conflicts of interest between their positions as officers and employees with Terra Tech."
"…using Terra Tech intellectual property including, but not limited to, Daily Revenue Reports, Nevada Cannabis Permit Applications, Compliance Memorandums and Terra Tech Google Analytics in order to usurp opportunities intended for Terra Tech and divert them to the Vande Vrede family entities."
"…using Terra Tech employees to produce PowerPoint presentations, and engage in other work, which was subsequently used to divert opportunities from Terra Tech to the Vande Vrede family entities."
"…using Terra Tech money to expense items that were used for the benefit of the diversion of these opportunities and the Vande Vrede family."
"…attempted to usurp or did usurp an opportunity Terra Tech had with Cultivar for their GRO-RITE, NATURALLY BEAUTIFUL and/or Vande Vrede family businesses."
"Instead of providing that opportunity to Terra Tech or Edible Garden, he forwarded the email, with the opportunity, to Defendants… …who were operating competing entities, GRO-RITE and NATURALLY BEAUTIFUL."
"…used Terra Tech’s name as a way to develop opportunities with vendors and business partners. Once a dialogue was opened, however, he dropped Terra Tech without informing anyone at Terra Tech, including other executives or members of the board, and instead pursued these opportunities for his family businesses and GRO-RITE."
"… Chill Waze CEO Vincent Gareffa emailed Defendant… …at his Terra Tech email address to pitch Chill Waze’s idea for partnering with Terra Tech."
"…never provided anyone at Terra Tech or Edible Garden the opportunity to hear Chill Waze’s pitch and, instead, copied Defendant DANIEL VANDE VREDE at GRO-RITE on all emails he exchanged with Chill Waze."
"…used Terra Tech resources for his own personal gain when he used his Terra Tech American Express credit card to pay for lunch with Chill Waze."
"…at his Terra Tech email address to break down ownership of Chill Waze and attached a PowerPoint presentation, which identifies Defendant as a “Silent Partner/Operations” and Defendant DANIEL VANDE VREDE as “COO/Inventory and Logistics”. Moreover, the PowerPoint presentation indicated that the warehouse was going to be the GRO-RITE location in New Jersey, implying that Chill Waze intended to compete with Terra Tech in New Jersey."
"…asked a Terra Tech employee to send over the Terra Tech Property ID in order to login and access google analytics for the Terra Tech website… …immediately forwarded Terra Tech’s Property ID to CEO Gareffa at Chill Waze so that he could login as a Terra Tech user and access Terra Tech proprietary information."
"…using Terra Tech’s name and resources to attract vendors and business partners, but then keep the opportunities for his family… …took an opportunity presented by Ken Voorhees of Ungerer & Co on February 6, 2018, for the Plant Based organic CBD Water packer."
"…at his Terra Tech email address and stated, “Organic CBD Water 50% Vande 50% Voorhees, $50k each initial seed money. We can open after launch to others."
"…charged his parking In Morristown, New Jersey, to the Terra Tech corporate credit card for that meeting…"
"Daniel Grover from the Great Meadows Design Group emailed Defendant KENNETH VANDE VREDE at his Terra Tech email address to ask Defendant KENNETH VANDE VREDE if he had sent over the executed contract or non-disclosure agreement… From January 31, 2018 through February 22, 2018, the two exchanged emails regarding corporate names and obtaining a New Jersey cannabis permit for “Lincoln Park and Belvidere locations.”"
"…received emails at his Terra Tech email address from Thomas Mastrangelo, a cannabis lobbyist, to discuss the next potential steps in growing the cannabis side of the Vande Vrede family business with GRO-RITE."
"…received an email at his Terra Tech email address from Quantum 9 CEO Michael Mayes… …forwarded the email from CEO Mayes to Defendants… …stating “Help us write our family cannabis permits for NJ.”… …responded and asked, “What’s this for?” Defendant KENNETH VANDE VREDE responded, “Consultant that will help our family write the NJ cannabis application for us. Scored #1 in PA. Has a 93% success rate.”…"
"From August 25, 2017, through February 6, 2018, Defendant KENNETH VANDE VREDE exchanged emails at his Terra Tech email address with CEO Mayes from Quantum 9, which culminated in Quantum 9 sending a work order, contract and non-disclosure agreement to Defendant KENNETH VANDE VREDE, which he forwarded to himself at his GRO-RITE email address, identifying GRO-RITE as the contracting party with Quantum 9 and the entity that would benefit from the work order from Quantum 9."
"…emailed Terra Tech’s proprietary Nevada Permit Applications to Mark Hanselman and David Alston, individuals who are not affiliated or associated with Terra Tech."
"…emailed with David Hollberg, the Pequannock, New Jersey Township Manager/CFO. They agreed to set up a meeting, which took place on January 10, 2018, at GRO-RITE, to discuss GRO-RITE’S application to grow cannabis."
"…used Terra Tech’s proprietary application documents to submit an application to Pequannock Township."
"…attended Terra Tech board meetings on September 26, 2017, and December 19, 2017. At each of these meetings, the board expressly asked Defendant KENNETH VANDE VREDE whether his family was competing with Terra Tech in cannabis. He misrepresented that they were not. In actuality, Defendant KENNETH VANDE VREDE led the family business charge to focus on cannabis cultivation in New Jersey."
"…were to work at least 30 hours per week. However, they worked no more than 28 hours per week there by obtaining benefits for themselves and their family under false pretenses and effectively, stealing Terra Tech resources."
WoW, looks like while shareholders are getting fitted for their tux the VV's will be getting fitted with orange jumpsuits.
I think this part is particularly hilarious...
"...The VandeVredes are seeking, among other things, a declaratory judgement that the they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the VandeVredes to their status with the Company and Edible Garden prior to their suspensions..."
lol, they ALL want their jobs back... bwaaahaaahaahaahaha...
maybe the vv's haven't realized it yet or maybe they have... but ain't nobody out there going to want to do business with back stabbing opportunists like them, lol.
business is blüming!!!
anyone who can read financials can clearly see this was converted back in January.
I wonder if there is a correlation here?
DP kicks the vv's to the curb and...
"... Edible Garden revenues increased 40% as our expanded offerings drove sales growth. Our gross profit for the first quarter ended March 31 2018 was $1.6 million compared to a gross profit margin of $400,000 for the first quarter ended March 31 2017, an increase of $1.7 million or 358.8%.
The Edible Garden herbs and produce segment gross profits increased from a negative $53,000 for the first quarter ended in March 31 of 2017 to positive $21,000 for the first quarter ended March 31st of 2018..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002325/trtc_ex992.htm
...revenues increase by 40% and gross profits increased by an astounding 358.8% - WoW!!
Here are a few key areas in the suit trtc has filed against the VV's.
could it all be related somehow? lmao
Definitely would NOT want to be in their shoes.
the VV's that is. Here is a few “lowlights” in the lawsuit trtc filed against the VV's and I for one can say I would not want to be in their shoes if this hits a courtroom, lol.
"…committed fraud against Terra Tech, stole its intellectual property, proprietary information, and usurped corporate opportunities intended for Terra Tech in order to benefit of GRO-RITE and NATURALLY BEAUTIFUL."
"…diverting Terra Tech opportunities to Vande Vrede family entities including but not limited to opportunities with Chill Waze, CBD Water and Cultivar, three companies that would have offered Terra Tech strategic and lucrative corporate alliances."
"…disseminating Terra Tech’s proprietary application documents and process to other entities for the benefit of the Vande Vrede entities including GRO-RITE."
"…failing to disclose conflicts of interest between their positions as officers and employees with Terra Tech."
"…using Terra Tech intellectual property including, but not limited to, Daily Revenue Reports, Nevada Cannabis Permit Applications, Compliance Memorandums and Terra Tech Google Analytics in order to usurp opportunities intended for Terra Tech and divert them to the Vande Vrede family entities."
"…using Terra Tech employees to produce PowerPoint presentations, and engage in other work, which was subsequently used to divert opportunities from Terra Tech to the Vande Vrede family entities."
"…using Terra Tech money to expense items that were used for the benefit of the diversion of these opportunities and the Vande Vrede family."
"…attempted to usurp or did usurp an opportunity Terra Tech had with Cultivar for their GRO-RITE, NATURALLY BEAUTIFUL and/or Vande Vrede family businesses."
"Instead of providing that opportunity to Terra Tech or Edible Garden, he forwarded the email, with the opportunity, to Defendants… …who were operating competing entities, GRO-RITE and NATURALLY BEAUTIFUL."
"…used Terra Tech’s name as a way to develop opportunities with vendors and business partners. Once a dialogue was opened, however, he dropped Terra Tech without informing anyone at Terra Tech, including other executives or members of the board, and instead pursued these opportunities for his family businesses and GRO-RITE."
"… Chill Waze CEO Vincent Gareffa emailed Defendant… …at his Terra Tech email address to pitch Chill Waze’s idea for partnering with Terra Tech."
"…never provided anyone at Terra Tech or Edible Garden the opportunity to hear Chill Waze’s pitch and, instead, copied Defendant DANIEL VANDE VREDE at GRO-RITE on all emails he exchanged with Chill Waze."
"…used Terra Tech resources for his own personal gain when he used his Terra Tech American Express credit card to pay for lunch with Chill Waze."
"…at his Terra Tech email address to break down ownership of Chill Waze and attached a PowerPoint presentation, which identifies Defendant as a “Silent Partner/Operations” and Defendant DANIEL VANDE VREDE as “COO/Inventory and Logistics”. Moreover, the PowerPoint presentation indicated that the warehouse was going to be the GRO-RITE location in New Jersey, implying that Chill Waze intended to compete with Terra Tech in New Jersey."
"…asked a Terra Tech employee to send over the Terra Tech Property ID in order to login and access google analytics for the Terra Tech website… …immediately forwarded Terra Tech’s Property ID to CEO Gareffa at Chill Waze so that he could login as a Terra Tech user and access Terra Tech proprietary information."
"…using Terra Tech’s name and resources to attract vendors and business partners, but then keep the opportunities for his family… …took an opportunity presented by Ken Voorhees of Ungerer & Co on February 6, 2018, for the Plant Based organic CBD Water packer."
"…at his Terra Tech email address and stated, “Organic CBD Water 50% Vande 50% Voorhees, $50k each initial seed money. We can open after launch to others."
"…charged his parking In Morristown, New Jersey, to the Terra Tech corporate credit card for that meeting…"
"Daniel Grover from the Great Meadows Design Group emailed Defendant KENNETH VANDE VREDE at his Terra Tech email address to ask Defendant KENNETH VANDE VREDE if he had sent over the executed contract or non-disclosure agreement… From January 31, 2018 through February 22, 2018, the two exchanged emails regarding corporate names and obtaining a New Jersey cannabis permit for “Lincoln Park and Belvidere locations.”"
"…received emails at his Terra Tech email address from Thomas Mastrangelo, a cannabis lobbyist, to discuss the next potential steps in growing the cannabis side of the Vande Vrede family business with GRO-RITE."
"…received an email at his Terra Tech email address from Quantum 9 CEO Michael Mayes… …forwarded the email from CEO Mayes to Defendants… …stating “Help us write our family cannabis permits for NJ.”… …responded and asked, “What’s this for?” Defendant KENNETH VANDE VREDE responded, “Consultant that will help our family write the NJ cannabis application for us. Scored #1 in PA. Has a 93% success rate.”…"
"From August 25, 2017, through February 6, 2018, Defendant KENNETH VANDE VREDE exchanged emails at his Terra Tech email address with CEO Mayes from Quantum 9, which culminated in Quantum 9 sending a work order, contract and non-disclosure agreement to Defendant KENNETH VANDE VREDE, which he forwarded to himself at his GRO-RITE email address, identifying GRO-RITE as the contracting party with Quantum 9 and the entity that would benefit from the work order from Quantum 9."
"…emailed Terra Tech’s proprietary Nevada Permit Applications to Mark Hanselman and David Alston, individuals who are not affiliated or associated with Terra Tech."
"…emailed with David Hollberg, the Pequannock, New Jersey Township Manager/CFO. They agreed to set up a meeting, which took place on January 10, 2018, at GRO-RITE, to discuss GRO-RITE’S application to grow cannabis."
"…used Terra Tech’s proprietary application documents to submit an application to Pequannock Township."
"…attended Terra Tech board meetings on September 26, 2017, and December 19, 2017. At each of these meetings, the board expressly asked Defendant KENNETH VANDE VREDE whether his family was competing with Terra Tech in cannabis. He misrepresented that they were not. In actuality, Defendant KENNETH VANDE VREDE led the family business charge to focus on cannabis cultivation in New Jersey."
"…were to work at least 30 hours per week. However, they worked no more than 28 hours per week there by obtaining benefits for themselves and their family under false pretenses and effectively, stealing Terra Tech resources."
WoW, looks like while shareholders are getting fitted for their tux the VV's will be getting fitted with orange jumpsuits.
I think this part is particularly hilarious...
"...The VandeVredes are seeking, among other things, a declaratory judgement that the they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the VandeVredes to their status with the Company and Edible Garden prior to their suspensions..."
lol, they ALL want their jobs back... bwaaahaaahaahaahaha...
maybe the vv's haven't realized it yet or maybe they have... but ain't nobody out there going to want to do business with back stabbing opportunists like them, lol.
business is blüming!!!
Shareholders Enrichment Scheme
I hope that trtc is an "insider enrichment scheme" like so many have erroneously claimed. Since the insiders are all in the same boat as shareholders that would make trtc a "Shareholders Enrichment Scheme". After all if A = B and B = C then A = C (according to the transitive property of equality). Wouldn’t everyone agree? Oh wait a minute, facts don't care if anybody agree's or not, they just are...
Share lock up agreements
Derek Peterson - CEO and Chairman
https://www.sec.gov/Archives/edgar/data/1451512/000147793217006160/trtc_8k.htm
Alan Gladstone - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000223/trtc_8k.htm
Michael James - CFO
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000297/trtc_8k.htm
Michael Nahass - President, COO, Director, Secretary and Treasurer
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000486/trtc_8k.htm
Steven Ross - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000541/trtc_8k.htm
DP on lock-up agreements
"Yeah, we signed lockups. Everybody signed them at a little bit of a different time. So I think I signed mine in December. Some signed in January, and that type of thing. So it was a 12-month lockup. Just promising to our shareholders we wouldn’t liquidate any of our Terra Tech stock in that timeframe. And so, yeah, we’re committed to that. That won’t be something that we alleviate from because we think this is a big year for growth for us.
So I’m looking at it from selfish standpoint. I’m looking at it from the perspective of I see what’s happening with Kronos. I see what’s happening with these other Canadian companies that are trading with these multibillion dollar market caps with a revenue base and an asset base that’s nowhere near what we have. And I think a lot of that overhang is due to the federal issues, and the dichotomy between state and federal law.
And so, you know, you’ve seen sales from insiders over the history, and we’ve done that for all different purposes. You know, what I hope our shareholders understand in the past when we’ve had to sell, whether it’s for phantom income taxes, other taxes, or just general security, we work in an environment where we’re personally affected by the job that we do.
I’ve lost my personal bank accounts. I’ve lost my ability to get insurance. I’ve lost – you know, we’ve lost our kids’ college savings plans. We’ve been kicked out. Our retirement plans have been kicked out. I mean, I’ve had credit cards shut down on me, banking institutions shut down on me, personally. Forget the company for a standpoint. And I can tell you most of our officers and directors have experienced the same thing.
So the operation in this space comes at a personal cost. You know, that and scrubbing it against the reality of we could wake up one morning – I don’t think it’s gonna happen, but we certainly could wake up one morning, and the federal government could change its stance on the industry, get far more aggressive. We’ve seen some shots across the bow, and for all practical purposes, they could make an attempt to shut the industry down.
So we’ve all got children, and we’re all human beings at the same time. And we all need to make sure we’ve got some money in the bank so we can feed our family in the case that something like that happens. It’s outside the scope of anything that we could have gauged for, and certainly not something that we brought on. So for all practical purposes, we could be executing with perfection, but the opportunity could be stripped away from us. And we’ve seen it happen in gaming, you know, online gaming, you know, from a legislative or regulatory change.
But our commitment was we want to make sure we don’t sell any stock over the next 12 months. Our commitment to the shareholders on a lot of different things that we’ve done in the past is to align ourselves from that same standpoint. We experienced the reverse just the same as every other shareholder experiences the reverse. But I’m in this for the potential up listing downstream.
And, you know, having worked in Wall Street for ten years, and Mike had worked there for 15-17 years, you know, I know it’s a matter of time before that opportunity is available to us. And I know that opportunity should come with a significant opportunity for market cap expansion over where we are now in this illegal federal environment on the OTC. And so that just put us in the position to kind of save this opportunity for downstream.
I don’t know if it’s gonna happen in 12 months, but we are certainly positioning ourselves for that. And like I said before, the analogy is I want to make sure we’re standing on the front door with our tuxedo when the door opens for the party. I don’t want to be at home still getting ready, which was the catalyst for the reverse along with some other things, and it was the catalyst for the lockup."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
meanwhile...
business is blümming!!!
now that's some serious groundwork...
Shares Outstanding
2012 76.89 million
2013 99.04 million
2014 174.3 million
2015 240.19 million
2016 389.36 million
2017 46.07 million (adjusted)
2018 70.85 million (end of Q2), (8/6 - 72,189,614)
* Some serious shareholder equity was created building facilities, getting licenses and laying the ground work to dominate.
2013 99.04 million
Total Revenue 2,125,851
Total Liabilities and Stockholders’ Equity 4,040,585
https://www.sec.gov/Archives/edgar/data/1451512/000147793214001462/trtc_10k.htm
2014 174.3 million
Total Revenue 7,094,270
Total Liabilities and Stockholders’ Equity 7,719,226
https://www.sec.gov/Archives/edgar/data/1451512/000147793215001943/trtc_10k.htm
2015 240.19 million
Total Revenue 9,975,346
Total Liabilities and Stockholders’ Equity 9,165,039
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2016 389.36 million
Total revenue 25,327,764
Total Liabilities and Stockholders’ Equity 76,178,130
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2017 46.1 million
Total revenue 35,800,844
Total Liabilities and Stockholders’ Equity 98,187,799
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
2018 68.7 million (end of Q2)
Total revenue 17,333,543 (end of Q2)
Total Liabilities and Stockholders’ Equity 109,791,013 (end of Q2)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003910/trtc_10q.htm
business is blüming!!!
more on seed 2 sale
"...So, we’ve been pretty much a pure retail play and now we’re building our manufacturing infrastructure into the retail footprint. We’re going to continue to grow the retail footprint, but most of the product that we purchased is coming from the wholesale market and with the Dyer property, with the Hegenberger property, with 130 lights coming online at the onsite grow, plus the extraction facilities we’re going to be able to accommodate close to 50% of our own product from our own footprint.
the margin expansion that we’re going to anticipate associated with that should be significant and severe we’re pretty excited about the opportunity to ramp that up. We’re obviously also going to use that infrastructure for this continued development of our wholesale brand and to push that product out into the open marketplace. but again, the lowest hanging fruit for us is to utilize as much of that product as possible to push through our own retail channel for the margin expansion.
And it give me kind of an understanding of that, wholesale flour right now ranges anywhere from say, 1,800 to 3,000 for really good teak providers a pound. the cost of cultivation should be about 600 or 700 a pound for indoor cultivation, greenhouse 300, outdoor 100 in change. So, there’s a significant opportunity for us to get massive gross margin expansion once we light these facilities up, we’re excited about the one in Nevada coming online, the 30,000 square foot one, the extraction facility will be online in the not-too-distant future and over the next 12 to 16, 18 months, we’re going to start lighting up all this infrastructure.
the first being the onsite grow at Blüm in Hegenberger to support the retail footprint and then of course, the Dyer property and the extraction facilities coming on the tail end of that too, again add additional products for our seed-to-sale vertical integration strategy. So, we should see great gross margin improvement just organically off the permitted footprint that we have right not notwithstanding any other permits that we get organically or potential acquisitions that may take place.
So, our investment and infrastructure both on the retail and cultivation sides of the business, that’s really what’s going to enable us to maintain our position as one of the largest players in the market right now..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003921/trtc_ex992.htm
business is blüming!!!
Will Panther Gap Farms deliver again?
”…On May 24, 2017, we announced the launch of a new “Craft Cultivation” model to expand our cultivation capabilities and the signing of our first “Craft Cultivator” in Northern California under the name Panther Gap Farms. This farm, which is approved for up to one full acre (approximately 44,000 square feet) of cannabis cultivation and uses 22,000 square feet of engineered greenhouse space, is estimated to yield approximately one metric ton of our proprietary high grade “IVXX” cannabis on an annual basis….
”…During the year ended December 31, 2017, we purchased 2,000 pounds from this cultivator...”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud.
Dp confirms, in the Virtual Investors Conference Call just recently, that trtc has indeed exercised the option to renew both the yearly lease and the yearly operating contract with expert grower and "Craft Cultivator" Panther Gap Farms.
http://www.virtualinvestorconferences.com/agenda-june2018.html
Quote:
________________________________________
"On May 23, 2017, the Company entered into a one-year operating agreement with Panther Gap Farms pursuant to which Panther Gap Farms will grow up to approximately one metric ton of the Company’s IVXX cannabis annually. The operating agreement is renewable, upon mutual agreement between Panther Gap Farms and the Company, for up to three additional terms of one year each. The agreement requires the Company to issue common stock, with a value of $1,150,000, upon execution of the agreement, which the Company issued in August 2017 and held in escrow. In addition to the common stock, the Company is required to issue common stock, with a value of $785,500, for the profit share of the cannabis ultimately sold by the Company upon execution of the agreement. Panther Gap Farms has the right to receive up to $100,000 in cash in lieu of receiving the common stock related to the net profit share. If Panther Gap Farms requests such cash payment, the amount of common stock to be delivered will be reduced by an amount equal to the amount of such cash divided by the lower of the closing price or the 30 day VWAP of common stock on the date of the agreement. The shares to be received by Panther Gap Farms under the profit share agreement are dependent on the ultimate profit recognized by the Company when the cannabis product is sold.
The Company and Panther Gap Farms also entered into a lease agreement pursuant to which the Company leases the property on which the cannabis is grown. The lease agreement requires monthly payments of $30,000 for eight months and is also renewable for up to three additional terms of one year each."
https://ir.terratechcorp.com/all-sec-filings#document-5441-0001477932-18-001325
DP clearly stated either on the Annual or the '18 quarterly how much cannabis was purchased. Has I have stated a few times now, "In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud."
Annual
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
Quarterly (Q1 2018)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002303/trtc_10q.htm
Prices in california are averaging $296.00 an ounce according to
https://marijuanarates.com/blog/california-marijuana-prices
so 2,000 lbs is 32,000 ounces multiplied by $296. Works out to around $9,472,000.00.
So they spent $2,175,000 and got back $9,472,000 in return, leaving trtc to collect $7,297,000.
I'll take that ALL DAY LONG!!!
Humboldt County - America's Marijuana Capital!
"...The property is located in Honeydew, CA, in Southern Humboldt County, in an area known as the "Emerald Triangle" that is home to some of the world's highest quality cannabis products...."
(pics on “intro” page)
https://www.terratechcorp.com/news-media/press-releases/detail/190/terra-tech-%20corp-expands-cannabis-cultivation-capabilities
"...Northern California is, hands down, the cannabis capital of the world, and with 20 years of dipping their toes in regulations behind them, the Bay Area and Emerald Triangle are ready for the post-prohibition era..."
https://www.freedomleaf.com/cannabis-innovations-northern-california/
a few other things to note;
* that 2000lbs delivered was in 2017, they could have easily taken another delivery of top notch product since then. After all the 1 year renewable contract started on May 24, 2017. Any additional marijuana delivered from Jan '18 to May 23, '18 would increase that 2,000 lbs accordingly.
* also, IP has a much better grasp on the actual dollar amounts, For instance, The big sticky buds on top are worth more than the smaller branch buds etc...
No matter it was a Great Deal made by DP!
no wonder...
business is blüming!!!
rapid expansion
trtc Awarded two additional Permits in Santa Ana
"...pleased to announce it has been granted two permits by the City of Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana..."
"...commenced operating and managing a cannabis dispensary in Santa Ana. We are proud to have successfully leveraged this first mover advantage to obtain two new retail permits and expand our presence in Orange County..."
"...The first dispensary will be located at 620 East Dyer Road, with plans to become a fully vertical cannabis complex. The Company purchased this 44,000 square foot facility in January 2018, to expand its presence in Southern California. Following the receipt of the permit, the Company will avail itself of the opportunity to acquire vertically integrated permits from City of Santa Ana to conduct cultivation, distribution, and manufacturing on site. The Company plans to develop the property to include a retail dispensary; increase the size of the facility to over 50,000 square feet and transform it into a vertically integrated cannabis complex. In addition, the Company plans to include an event facility to host large-scale cannabis themed events, such as concerts and movie nights. The Dyer Road facility is adjacent to the 55 Freeway and acts as an entry point into the Southern California marketplace, allowing the Company to benefit from the area’s high population density and traffic. Potential revenues from the retail dispensary, when at full capacity and under current market conditions, are expected to be between $7 million and $10 million per year..."
"...The second dispensary will be located at 1815 E. Carnegie Avenue. The Company also plans to apply for cultivation, manufacturing and distribution permits at this location. Terra Tech selected this 30,000 square foot location because it borders Irvine and Tustin, which have a combined population of over 350,000 residents and have no cannabis dispensaries. The Company believes this strategic location will allow it to serve as a delivery hub to Orange County, opening a new untapped market...."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003633/trtc_ex991.htm
trtc Secures Stake in 10th Retail Permit
"...pleased to announce that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, and therefore the associated permit, is held by other members of the collective, with whom Terra Tech partnered in order to complete the permit application process...."
"...Terra Tech covered the costs of the permit application and Terra Tech’s wholly-owned subsidiary, Black Oak Gallery, will be responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003672/trtc_ex991.htm
continuing its rapid expansion...
"...the company just announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. According to the release, “On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana...."
"...The company operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
"Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations...."
"...“We are pleased to have leveraged our know-how and experience in the Santa Ana market to secure this retail permit with The Healing Tree Collective, without needing to expend significant time or resources to do so. As the cannabis market continues to mature we expect these permits to become more valuable. We believe that maximizing our first mover advantage by securing a stake in this permit may lead to additional revenue opportunities in the medium and longer term.”..."
"...has a significant war chest ($4.5M) of cash on the books, which is balanced by virtually no total current liabilities. TRTC is pulling in trailing 12-month revenues of $37.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 26.2%..."
https://oracledispatch.com/2018/07/27/terra-tech-corp-otcmktstrtc-continues-show-positive-signals/
business is blüming!!!
DP on mj in nj per Q2 cc q/a
"...Putting the team together, putting the narrative together, putting the application together securing the real estate, all that’s in progress, we’ve ramped up even ahead of the open window and we think we’re going to have a very competitive application and a very good demographic back in Jersey that we think will be a very competitive environment and the beauty of that is we again, think New Jersey is going to fast track adult use.
So, this is expanded medical once we obtain that license we believe that once they pass the medical ordinance that will be grandfathered into the medical or the adult use ordinance, we’ll able to grandfather in the adult use sales, which give us a bit of a first mover advantage in that marketplace back there. So, much of our time, effort and energy is, to develop that application submitted and hopefully, our 100% success record carries forward to that environment..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003921/trtc_ex992.htm
business is blüming!!!
sponsoring snoop
https://www.instagram.com/p/BlZiXMLlsWy/?tagged=bl%C3%BCmresponsibly
interesting stuff here
https://www.letsblum.com/sitemap
business is blüming!!!
undervalued big time
https://backend.otcmarkets.com/otcapi/company/morningstar/report/TRTC/
business is blüming!!!
I think its been in the plan for awhile just didn't have a deal worked out. If I remember correctly on fb the caption was Branding or Product Development Session, or something like that. I think they got a deal inked and posted it.
business is blüming!!!
freaking Awesome!!!
trtc posted this on fb back in may
looks a lot like the "vertus" brand
http://tarukino.com/drink-vertus
business is blüming!!!
updated Investors Presentation
https://d1io3yog0oux5.cloudfront.net/_05e749e66192835355facbfdf0098d26/terratechcorp/db/224/433/pdf/Terra+Tech+Investor+Presentation+August+2018+Final.pdf
https://www.terratechcorp.com/news-media/presentations
business is blüming!!!
I wonder if there is a correlation here?
DP kicks the vv's to the curb and...
"... Edible Garden revenues increased 40% as our expanded offerings drove sales growth. Our gross profit for the first quarter ended March 31 2018 was $1.6 million compared to a gross profit margin of $400,000 for the first quarter ended March 31 2017, an increase of $1.7 million or 358.8%.
The Edible Garden herbs and produce segment gross profits increased from a negative $53,000 for the first quarter ended in March 31 of 2017 to positive $21,000 for the first quarter ended March 31st of 2018..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002325/trtc_ex992.htm
...revenues increase by 40% and gross profits increased by an astounding 358.8% - WoW!!
Here are a few key areas in the suit trtc has filed against the VV's.
could it all be related somehow? lmao
Definitely would NOT want to be in their shoes.
the VV's that is. Here is a few “lowlights” in the lawsuit trtc filed against the VV's and I for one can say I would not want to be in their shoes if this hits a courtroom, lol.
"…committed fraud against Terra Tech, stole its intellectual property, proprietary information, and usurped corporate opportunities intended for Terra Tech in order to benefit of GRO-RITE and NATURALLY BEAUTIFUL."
"…diverting Terra Tech opportunities to Vande Vrede family entities including but not limited to opportunities with Chill Waze, CBD Water and Cultivar, three companies that would have offered Terra Tech strategic and lucrative corporate alliances."
"…disseminating Terra Tech’s proprietary application documents and process to other entities for the benefit of the Vande Vrede entities including GRO-RITE."
"…failing to disclose conflicts of interest between their positions as officers and employees with Terra Tech."
"…using Terra Tech intellectual property including, but not limited to, Daily Revenue Reports, Nevada Cannabis Permit Applications, Compliance Memorandums and Terra Tech Google Analytics in order to usurp opportunities intended for Terra Tech and divert them to the Vande Vrede family entities."
"…using Terra Tech employees to produce PowerPoint presentations, and engage in other work, which was subsequently used to divert opportunities from Terra Tech to the Vande Vrede family entities."
"…using Terra Tech money to expense items that were used for the benefit of the diversion of these opportunities and the Vande Vrede family."
"…attempted to usurp or did usurp an opportunity Terra Tech had with Cultivar for their GRO-RITE, NATURALLY BEAUTIFUL and/or Vande Vrede family businesses."
"Instead of providing that opportunity to Terra Tech or Edible Garden, he forwarded the email, with the opportunity, to Defendants… …who were operating competing entities, GRO-RITE and NATURALLY BEAUTIFUL."
"…used Terra Tech’s name as a way to develop opportunities with vendors and business partners. Once a dialogue was opened, however, he dropped Terra Tech without informing anyone at Terra Tech, including other executives or members of the board, and instead pursued these opportunities for his family businesses and GRO-RITE."
"… Chill Waze CEO Vincent Gareffa emailed Defendant… …at his Terra Tech email address to pitch Chill Waze’s idea for partnering with Terra Tech."
"…never provided anyone at Terra Tech or Edible Garden the opportunity to hear Chill Waze’s pitch and, instead, copied Defendant DANIEL VANDE VREDE at GRO-RITE on all emails he exchanged with Chill Waze."
"…used Terra Tech resources for his own personal gain when he used his Terra Tech American Express credit card to pay for lunch with Chill Waze."
"…at his Terra Tech email address to break down ownership of Chill Waze and attached a PowerPoint presentation, which identifies Defendant as a “Silent Partner/Operations” and Defendant DANIEL VANDE VREDE as “COO/Inventory and Logistics”. Moreover, the PowerPoint presentation indicated that the warehouse was going to be the GRO-RITE location in New Jersey, implying that Chill Waze intended to compete with Terra Tech in New Jersey."
"…asked a Terra Tech employee to send over the Terra Tech Property ID in order to login and access google analytics for the Terra Tech website… …immediately forwarded Terra Tech’s Property ID to CEO Gareffa at Chill Waze so that he could login as a Terra Tech user and access Terra Tech proprietary information."
"…using Terra Tech’s name and resources to attract vendors and business partners, but then keep the opportunities for his family… …took an opportunity presented by Ken Voorhees of Ungerer & Co on February 6, 2018, for the Plant Based organic CBD Water packer."
"…at his Terra Tech email address and stated, “Organic CBD Water 50% Vande 50% Voorhees, $50k each initial seed money. We can open after launch to others."
"…charged his parking In Morristown, New Jersey, to the Terra Tech corporate credit card for that meeting…"
"Daniel Grover from the Great Meadows Design Group emailed Defendant KENNETH VANDE VREDE at his Terra Tech email address to ask Defendant KENNETH VANDE VREDE if he had sent over the executed contract or non-disclosure agreement… From January 31, 2018 through February 22, 2018, the two exchanged emails regarding corporate names and obtaining a New Jersey cannabis permit for “Lincoln Park and Belvidere locations.”"
"…received emails at his Terra Tech email address from Thomas Mastrangelo, a cannabis lobbyist, to discuss the next potential steps in growing the cannabis side of the Vande Vrede family business with GRO-RITE."
"…received an email at his Terra Tech email address from Quantum 9 CEO Michael Mayes… …forwarded the email from CEO Mayes to Defendants… …stating “Help us write our family cannabis permits for NJ.”… …responded and asked, “What’s this for?” Defendant KENNETH VANDE VREDE responded, “Consultant that will help our family write the NJ cannabis application for us. Scored #1 in PA. Has a 93% success rate.”…"
"From August 25, 2017, through February 6, 2018, Defendant KENNETH VANDE VREDE exchanged emails at his Terra Tech email address with CEO Mayes from Quantum 9, which culminated in Quantum 9 sending a work order, contract and non-disclosure agreement to Defendant KENNETH VANDE VREDE, which he forwarded to himself at his GRO-RITE email address, identifying GRO-RITE as the contracting party with Quantum 9 and the entity that would benefit from the work order from Quantum 9."
"…emailed Terra Tech’s proprietary Nevada Permit Applications to Mark Hanselman and David Alston, individuals who are not affiliated or associated with Terra Tech."
"…emailed with David Hollberg, the Pequannock, New Jersey Township Manager/CFO. They agreed to set up a meeting, which took place on January 10, 2018, at GRO-RITE, to discuss GRO-RITE’S application to grow cannabis."
"…used Terra Tech’s proprietary application documents to submit an application to Pequannock Township."
"…attended Terra Tech board meetings on September 26, 2017, and December 19, 2017. At each of these meetings, the board expressly asked Defendant KENNETH VANDE VREDE whether his family was competing with Terra Tech in cannabis. He misrepresented that they were not. In actuality, Defendant KENNETH VANDE VREDE led the family business charge to focus on cannabis cultivation in New Jersey."
"…were to work at least 30 hours per week. However, they worked no more than 28 hours per week there by obtaining benefits for themselves and their family under false pretenses and effectively, stealing Terra Tech resources."
WoW, looks like while shareholders are getting fitted for their tux the VV's will be getting fitted with orange jumpsuits.
I think this part is particularly hilarious...
"...The VandeVredes are seeking, among other things, a declaratory judgement that the they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the VandeVredes to their status with the Company and Edible Garden prior to their suspensions..."
lol, they ALL want their jobs back... bwaaahaaahaahaahaha...
maybe the vv's haven't realized it yet or maybe they have... but ain't nobody out there going to want to do business with back stabbing opportunists like them, lol.
business is blüming!!!
trtc Secures Stake in 10th Retail Permit
"...pleased to announce that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, and therefore the associated permit, is held by other members of the collective, with whom Terra Tech partnered in order to complete the permit application process...."
"...Terra Tech covered the costs of the permit application and Terra Tech’s wholly-owned subsidiary, Black Oak Gallery, will be responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003672/trtc_ex991.htm
continuing its rapid expansion...
"...the company just announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. According to the release, “On July 23, 2018, The Healing Tree Collective was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana...."
"...The company operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.
"Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations...."
"...“We are pleased to have leveraged our know-how and experience in the Santa Ana market to secure this retail permit with The Healing Tree Collective, without needing to expend significant time or resources to do so. As the cannabis market continues to mature we expect these permits to become more valuable. We believe that maximizing our first mover advantage by securing a stake in this permit may lead to additional revenue opportunities in the medium and longer term.”..."
"...has a significant war chest ($4.5M) of cash on the books, which is balanced by virtually no total current liabilities. TRTC is pulling in trailing 12-month revenues of $37.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 26.2%..."
https://oracledispatch.com/2018/07/27/terra-tech-corp-otcmktstrtc-continues-show-positive-signals/
business is blüming!!!
Will Panther Gap Farms deliver again?
”…On May 24, 2017, we announced the launch of a new “Craft Cultivation” model to expand our cultivation capabilities and the signing of our first “Craft Cultivator” in Northern California under the name Panther Gap Farms. This farm, which is approved for up to one full acre (approximately 44,000 square feet) of cannabis cultivation and uses 22,000 square feet of engineered greenhouse space, is estimated to yield approximately one metric ton of our proprietary high grade “IVXX” cannabis on an annual basis….
”…During the year ended December 31, 2017, we purchased 2,000 pounds from this cultivator...”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud.
Dp confirms, in the Virtual Investors Conference Call just recently, that trtc has indeed exercised the option to renew both the yearly lease and the yearly operating contract with expert grower and "Craft Cultivator" Panther Gap Farms.
http://www.virtualinvestorconferences.com/agenda-june2018.html
Quote:
________________________________________
"On May 23, 2017, the Company entered into a one-year operating agreement with Panther Gap Farms pursuant to which Panther Gap Farms will grow up to approximately one metric ton of the Company’s IVXX cannabis annually. The operating agreement is renewable, upon mutual agreement between Panther Gap Farms and the Company, for up to three additional terms of one year each. The agreement requires the Company to issue common stock, with a value of $1,150,000, upon execution of the agreement, which the Company issued in August 2017 and held in escrow. In addition to the common stock, the Company is required to issue common stock, with a value of $785,500, for the profit share of the cannabis ultimately sold by the Company upon execution of the agreement. Panther Gap Farms has the right to receive up to $100,000 in cash in lieu of receiving the common stock related to the net profit share. If Panther Gap Farms requests such cash payment, the amount of common stock to be delivered will be reduced by an amount equal to the amount of such cash divided by the lower of the closing price or the 30 day VWAP of common stock on the date of the agreement. The shares to be received by Panther Gap Farms under the profit share agreement are dependent on the ultimate profit recognized by the Company when the cannabis product is sold.
The Company and Panther Gap Farms also entered into a lease agreement pursuant to which the Company leases the property on which the cannabis is grown. The lease agreement requires monthly payments of $30,000 for eight months and is also renewable for up to three additional terms of one year each."
https://ir.terratechcorp.com/all-sec-filings#document-5441-0001477932-18-001325
DP clearly stated either on the Annual or the '18 quarterly how much cannabis was purchased. Has I have stated a few times now, "In 2017 Panther delivered 2,000 lbs of the sticky icky, Premium Dank AF Killer Bud."
Annual
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
Quarterly (Q1 2018)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218002303/trtc_10q.htm
Prices in california are averaging $296.00 an ounce according to
https://marijuanarates.com/blog/california-marijuana-prices
so 2,000 lbs is 32,000 ounces multiplied by $296. Works out to around $9,472,000.00.
So they spent $2,175,000 and got back $9,472,000 in return, leaving trtc to collect $7,297,000.
I'll take that ALL DAY LONG!!!
Humboldt County - America's Marijuana Capital!
"...The property is located in Honeydew, CA, in Southern Humboldt County, in an area known as the "Emerald Triangle" that is home to some of the world's highest quality cannabis products...."
(pics on “intro” page)
https://www.terratechcorp.com/news-media/press-releases/detail/190/terra-tech-%20corp-expands-cannabis-cultivation-capabilities
"...Northern California is, hands down, the cannabis capital of the world, and with 20 years of dipping their toes in regulations behind them, the Bay Area and Emerald Triangle are ready for the post-prohibition era..."
https://www.freedomleaf.com/cannabis-innovations-northern-california/
a few other things to note;
* that 2000lbs delivered was in 2017, they could have easily taken another delivery of top notch product since then. After all the 1 year renewable contract started on May 24, 2017. Any additional marijuana delivered from Jan '18 to May 23, '18 would increase that 2,000 lbs accordingly.
* also, IP has a much better grasp on the actual dollar amounts, For instance, The big sticky buds on top are worth more than the smaller branch buds etc...
No matter it was a Great Deal made by DP!
no wonder...
business is blüming!!!
Skating to where the puck is going
DP on Cali...
“We expect to achieve a footprint within California markets throughout 2018 that allows for us to produce 20,000 pounds of product per year of cannabis. In Oakland, let’s start there, we’re currently constructing a 13,000-square-foot cultivation facility. That will be coming online later this year. That facility, in and of itself is gonna have the ability to produce one metric ton of cannabis per year. We received a provisional cultivation permit in Q2 2017 and expect to be fully operational by mid-2018.
This location will obviously supply our Bloom Oakland dispensary, which has been operated by us since April 2016 after we acquired it, and we’ve got a great location. There, again, we’re seeing about a thousand patients a day out of our retail footprint in the Oakland marketplace. And this will, again, feed the IVXX brand through multiple stores, but it’ll be a great driver of product with low margins through our retail footprint in Oakland, California.
Santa Ana, as you know, we acquired a dispensary there. The fourth quarter was full first quarter revenues for us out the of Santa Ana location. We’ve got great brand recognition down here in the Southern California marketplace. I think people have been waiting for the Bloom and the IVXX brand to arrive in SoCal for some times. Santa Ana has created a great platform for us to be able to build a significant business down here. They’ve taken a spot leadership standpoint to be the Southern California hub for cannabis activities.”
“on February 1st, we submitted applications to open two additional retail dispensaries in Santa Ana, and we expect the city to announce whether these are approved in the next couple of months. In San Leandro for some of the new people joining the call, we’ve been contracting a new Bloom dispensary, as well as an extraction facility, laboratory, and commercial kitchen.
That is currently underway. They’re gonna open up a different time. The retail facility will open up some time in May, and then we’re thinking the latter part of Q2, early Q3 for the extraction in the facility to go along with that. We think those are gonna be great facilities for us, but we’ll start to see some revenue being driven out of the retail position, we’re hoping sometime in May depending on the local and state licensing”
“…in California, we have our Oakland retail dispensary; we have our Santa Ana retail dispensary, and we have our San Leandro retail dispensary that we’re gonna be opening up here in the not too distant future. But in condition to that, we have the large-scale cultivation facility that we’re building in Oakland right now. We have the onsite cultivation facility that’s part of our Oakland campus. It’s not gigantic, but it produces a couple million dollars of produce on an annual basis. That facility has been in operation for some time now.
But in addition to that, we’ve just purchased a large-scale facility down here in Santa Ana California. We bought an 11.5-million-dollar campus in Santa Ana, where we applied for new retail permits. And as soon as they open up the opportunity to apply for additional cultivation and extraction permits, we’re going to hopefully be building out a large-scale complex and campus down here in Southern California that will house extraction and cultivation, as well as an unbelievably located retail storefront on an very major busy intersection for us here in the Santa Ana marketplace.
So we acquired 44,000-square-feet on three acres, and we’re going through the permitting process there right now. And, again, that’ll be another use of capital over the next year and a half to build all these facilities out, so that we can obviously expand our cultivation and footprint our extraction footprint and be able to have enough product out there to service our existing retail footprint, but also to have a strong wholesale presence in the marketplace throughout California.”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
DP on Nevada...
“…in Nevada, we’ve got four retail dispensaries, three in Las Vegas, one in the Reno marketplace. We’ve just finished a 30,000-square-foot cultivation facility, and we’ve got a 15,000-square-foot extraction lab to produce the concentrates, oil lines, and those types of things for the Nevada marketplace. Again, not only for our stores, and New Leaf stores, but also for all the retail storefronts in multiple marketplaces throughout Nevada.
There’s the potential that they’re gonna issue additional permits in Nevada for additional retail locations. We’re not sure what’s going to happen with that just yet, but we do know for certain they’re only going to issue those permits to existing owners of retail dispensaries, so we’ll be able to maintain our market saturation and avoid outside competition from new players coming in and eroding our market share.
We are also planning and building one of our other cultivation permits that we won in Spanish Springs, so not too far away from the existing cultivation facility. We’re in planning and design right now for the construction of a one-acre greenhouse facility. Again, the benefits of greenhouse cultivation is the cost to productions are a lot cheaper. It provides a tremendous amount of feedstock for our traction line so we can produce more edibles and concentrates, and those types of things for the Nevada marketplace as well. So that’s our current footprint and our expanding footprint coming up over the next year and a half there as well.”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
DP on New Jersey...
“So where have we spent our money, and where are we going to spend our money? So in New Jersey, for example, we built ourselves a significant footprint across the country. I just want to kind of itemize that because I know we have a lot of new shareholders on the call. We went from 50,000 to 115,000 over the course of a little over a year. So I want to make sure everybody understands what kind of our geographic footprint right now looks like.
So we’ve got a 250,000-square-foot fully glass, fully automated cultivation facility in New Jersey that we grow produce. Again, our intention there is to open up retail dispensaries in New Jersey. Obviously, a big cultivation and extraction backbone on our facilities back there, leverage our current infrastructure, and reduce our time to market. So our hope is opening up multiple retail dispensaries, and obviously having the cultivation extraction backbone utilizing the existing footprint we have in the New Jersey marketplace.”
"...even more so as we work in Nevada on the legislation, the regulatory environment that’s shifting over there now with Chris Christie out, and the entering of Governor Murphy that’s made it a significant stand on his campaign to legalize adult use cannabis in New Jersey. So, first and foremost, the first thing they’re going to do is expand, rapidly, the medical program by the issuance of additional licenses and cultivation extraction in retail."
"...While that’s happening, the secondary approach is to get some framework for regulation around adult use within the state. The beauty of us is we have existing infrastructures that we’ve set back there. We have corporate offices. We have HR. We have admin. We obviously have the Capex of the facility that we built back there. The pack house could come in to potentially host an extraction facility."
"So at the end of the day, we’re relatively ramped up to semblance of first mover advantage for a second round here, and we’re working heavily right now lobbying to guide the regulations to make sure that we have the ability to produce that product at the New Jersey facility. Financing and reverse split. So as many of you see, we’ve got lots of opportunity to build our business in multiple markets..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
business is blüming!!!
NJ Lawmakers tour blüms flagship location (Desert Inn) and like what they see!
https://www.scribd.com/document/371089301/New-Jersey-Lawmakers-Marijuana-Visit-to-Nevada
First blüm was voted "The People's Choice" ...
https://www.thecannabist.co/2018/01/31/best-dispensaries-budtenders-2017/97990/
and now confirmed by High Times…
"...You don’t grow a business to six locations in two separate states (with a seventh planned for San Leandro) without doing something right. Their inventory is unrivaled in the East Bay, with prices to match...."
https://hightimes.com/dispensaries/best-dispensaries-east-bay/
more on the blüm design...
"...to help educate patients and establish brand awareness, cannabis boutiques are moving away from that dim-lit, bland image by using vibrant color schemes and design elements to make lasting impressions with customers — and to reverse stigma..."
"...Blum, a pot retail operator owned by Terra Tech Corp., is focused on just that — patient care and safety and the reversal of stigma in the industry...."
https://www.bisnow.com/national/news/retail/marijuana-dispensaries-are-getting-facelifts-to-blaze-past-the-competition-87544
https://www.inc.com/will-yakowicz/ss-high-end-cannabis-dispensary-design-revenue.html
360 degree Tour
now that's some serious groundwork...
Shares Outstanding
2012 76.89 million
2013 99.04 million
2014 174.3 million
2015 240.19 million
2016 389.36 million
2017 46.07 million (adjusted)
2018 70.85 million (end of Q2)
* Some serious shareholder equity was created building facilities, getting licenses and laying the ground work to dominate.
2013 99.04 million
Total Revenue 2,125,851
Total Liabilities and Stockholders’ Equity 4,040,585
https://www.sec.gov/Archives/edgar/data/1451512/000147793214001462/trtc_10k.htm
2014 174.3 million
Total Revenue 7,094,270
Total Liabilities and Stockholders’ Equity 7,719,226
https://www.sec.gov/Archives/edgar/data/1451512/000147793215001943/trtc_10k.htm
2015 240.19 million
Total Revenue 9,975,346
Total Liabilities and Stockholders’ Equity 9,165,039
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2016 389.36 million
Total revenue 25,327,764
Total Liabilities and Stockholders’ Equity 76,178,130
https://www.sec.gov/Archives/edgar/data/1451512/000147793217001483/trtc_10k.htm
2017 46.1 million
Total revenue 35,800,844
Total Liabilities and Stockholders’ Equity 98,187,799
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001325/trtc_10k.htm
2018 68.7 million (end of Q2)
Total revenue 17,333,543 (end of Q2)
Total Liabilities and Stockholders’ Equity 109,791,013 (end of Q2)
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003910/trtc_10q.htm
business is blüming!!!
Shareholders Enrichment Scheme
I hope that trtc is an "insider enrichment scheme" like so many have erroneously claimed. Since the insiders are all in the same boat as shareholders that would make trtc a "Shareholders Enrichment Scheme". After all if A = B and B = C then A = C (according to the transitive property of equality). Wouldn’t everyone agree? Oh wait a minute, facts don't care if anybody agree's or not, they just are...
Share lock up agreements
Derek Peterson - CEO and Chairman
https://www.sec.gov/Archives/edgar/data/1451512/000147793217006160/trtc_8k.htm
Alan Gladstone - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000223/trtc_8k.htm
Michael James - CFO
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000297/trtc_8k.htm
Michael Nahass - President, COO, Director, Secretary and Treasurer
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000486/trtc_8k.htm
Steven Ross - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000541/trtc_8k.htm
DP on lock-up agreements
"Yeah, we signed lockups. Everybody signed them at a little bit of a different time. So I think I signed mine in December. Some signed in January, and that type of thing. So it was a 12-month lockup. Just promising to our shareholders we wouldn’t liquidate any of our Terra Tech stock in that timeframe. And so, yeah, we’re committed to that. That won’t be something that we alleviate from because we think this is a big year for growth for us.
So I’m looking at it from selfish standpoint. I’m looking at it from the perspective of I see what’s happening with Kronos. I see what’s happening with these other Canadian companies that are trading with these multibillion dollar market caps with a revenue base and an asset base that’s nowhere near what we have. And I think a lot of that overhang is due to the federal issues, and the dichotomy between state and federal law.
And so, you know, you’ve seen sales from insiders over the history, and we’ve done that for all different purposes. You know, what I hope our shareholders understand in the past when we’ve had to sell, whether it’s for phantom income taxes, other taxes, or just general security, we work in an environment where we’re personally affected by the job that we do.
I’ve lost my personal bank accounts. I’ve lost my ability to get insurance. I’ve lost – you know, we’ve lost our kids’ college savings plans. We’ve been kicked out. Our retirement plans have been kicked out. I mean, I’ve had credit cards shut down on me, banking institutions shut down on me, personally. Forget the company for a standpoint. And I can tell you most of our officers and directors have experienced the same thing.
So the operation in this space comes at a personal cost. You know, that and scrubbing it against the reality of we could wake up one morning – I don’t think it’s gonna happen, but we certainly could wake up one morning, and the federal government could change its stance on the industry, get far more aggressive. We’ve seen some shots across the bow, and for all practical purposes, they could make an attempt to shut the industry down.
So we’ve all got children, and we’re all human beings at the same time. And we all need to make sure we’ve got some money in the bank so we can feed our family in the case that something like that happens. It’s outside the scope of anything that we could have gauged for, and certainly not something that we brought on. So for all practical purposes, we could be executing with perfection, but the opportunity could be stripped away from us. And we’ve seen it happen in gaming, you know, online gaming, you know, from a legislative or regulatory change.
But our commitment was we want to make sure we don’t sell any stock over the next 12 months. Our commitment to the shareholders on a lot of different things that we’ve done in the past is to align ourselves from that same standpoint. We experienced the reverse just the same as every other shareholder experiences the reverse. But I’m in this for the potential up listing downstream.
And, you know, having worked in Wall Street for ten years, and Mike had worked there for 15-17 years, you know, I know it’s a matter of time before that opportunity is available to us. And I know that opportunity should come with a significant opportunity for market cap expansion over where we are now in this illegal federal environment on the OTC. And so that just put us in the position to kind of save this opportunity for downstream.
I don’t know if it’s gonna happen in 12 months, but we are certainly positioning ourselves for that. And like I said before, the analogy is I want to make sure we’re standing on the front door with our tuxedo when the door opens for the party. I don’t want to be at home still getting ready, which was the catalyst for the reverse along with some other things, and it was the catalyst for the lockup."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
meanwhile...
business is blümming!!!
No doubt a big improvement
One of the many things that made the 40 million in 8 quarterly tranche's deal along with the rs such a great thing for the company is not only did it fix the share structure and enable expansion for another two years minimum but it was also a "see ya wouldn't wanna be ya" to the "dominions and the magna's" predatory lending practices common for otc lenders.
I've posted this a few times but I'm not sure the board remembers so I'll quote it below. Much much better rates and terms, still not on par with a legal biz but definitely much much better.
8 quarterly tranches of 5 million each
"...So that 40 million is coming in eight tranches of five million bucks each quarter over the next 24 months. And one the main reasons we did that we scoped out what our growth and Capex requirements are over the next two years. And we may move those timelines around a little bit..."
"...the capital raise essentially provided the company with enough growth capital to execute on the business model over the next 24 months. We believe these steps will fuel the growth of the company and help create value for shareholders..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
Financing, though not as good as what a 100% legal business entity could get, is getting better and better!
“…We saved about 20 percent in costs on this major capital investment that we’re bringing in versus the prior tranche that we’ve done….”
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
details of 40 million financing.
"...7.5% Senior Convertible Promissory Note..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001290/trtc_424b5.htm
more details…
https://www.terratechcorp.com/news-media/press-releases/detail/217/terra-tech-corp-provides-strategic-business-update-for-2018
* straight from the filings...
"...Global alliance Partners offering securities through Euro Pacific Capital Inc..."
http://www.globalalliancepartners.com/partners/
http://www.europac.com/
seems to be a major upgrade from dominion and magna. There in 26 countries and I noticed that global alliance has a partner in NY and one in San Fran specializing in "mergers & acquisitions / corporate advisory"
http://terracap.com/corporate-advisorymergers-acquisitions/
terracap is short for terranova capital and it is the california office for Global Alliance Partners.
business is blüming!!!
funny thing is, when I was trying to watch that required meeting (for ALL potential applicants) yesterday afternoon, I enlarged the screen and kept looking through the audience members to try and recognize trtc peeps from the back of their heads. no luck, didn't recognize anyone, lol. Still wasn't a waste of time, loads of great info passed on through the meeting. My issue was with the seemingly never ending legal speak. Aaargh, having to skip past it on printed documents isn't so bad but having to sit there while some gov employee stumbles through all the disclaimers was bruttal for me.
DP noted in the Q2 CC that James was in attendance...
"...Our CFO Mike James, this morning was in a mandatory meeting in Trenton, New Jersey, that mandatory meeting had well over a 1000 people out. So, it’s going to be a pretty competitive environment, but not something we’re certainly unused to..."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003921/trtc_ex992.htm
business is blüming!!!
Shareholders Enrichment Scheme
I hope that trtc is an "insider enrichment scheme" like so many have erroneously claimed. Since the insiders are all in the same boat as shareholders that would make trtc a "Shareholders Enrichment Scheme". After all if A = B and B = C then A = C (according to the transitive property of equality). Wouldn’t everyone agree? Oh wait a minute, facts don't care if anybody agree's or not, they just are...
Share lock up agreements
Derek Peterson - CEO and Chairman
https://www.sec.gov/Archives/edgar/data/1451512/000147793217006160/trtc_8k.htm
Alan Gladstone - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000223/trtc_8k.htm
Michael James - CFO
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000297/trtc_8k.htm
Michael Nahass - President, COO, Director, Secretary and Treasurer
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000486/trtc_8k.htm
Steven Ross - Director
https://www.sec.gov/Archives/edgar/data/1451512/000147793218000541/trtc_8k.htm
DP on lock-up agreements
"Yeah, we signed lockups. Everybody signed them at a little bit of a different time. So I think I signed mine in December. Some signed in January, and that type of thing. So it was a 12-month lockup. Just promising to our shareholders we wouldn’t liquidate any of our Terra Tech stock in that timeframe. And so, yeah, we’re committed to that. That won’t be something that we alleviate from because we think this is a big year for growth for us.
So I’m looking at it from selfish standpoint. I’m looking at it from the perspective of I see what’s happening with Kronos. I see what’s happening with these other Canadian companies that are trading with these multibillion dollar market caps with a revenue base and an asset base that’s nowhere near what we have. And I think a lot of that overhang is due to the federal issues, and the dichotomy between state and federal law.
And so, you know, you’ve seen sales from insiders over the history, and we’ve done that for all different purposes. You know, what I hope our shareholders understand in the past when we’ve had to sell, whether it’s for phantom income taxes, other taxes, or just general security, we work in an environment where we’re personally affected by the job that we do.
I’ve lost my personal bank accounts. I’ve lost my ability to get insurance. I’ve lost – you know, we’ve lost our kids’ college savings plans. We’ve been kicked out. Our retirement plans have been kicked out. I mean, I’ve had credit cards shut down on me, banking institutions shut down on me, personally. Forget the company for a standpoint. And I can tell you most of our officers and directors have experienced the same thing.
So the operation in this space comes at a personal cost. You know, that and scrubbing it against the reality of we could wake up one morning – I don’t think it’s gonna happen, but we certainly could wake up one morning, and the federal government could change its stance on the industry, get far more aggressive. We’ve seen some shots across the bow, and for all practical purposes, they could make an attempt to shut the industry down.
So we’ve all got children, and we’re all human beings at the same time. And we all need to make sure we’ve got some money in the bank so we can feed our family in the case that something like that happens. It’s outside the scope of anything that we could have gauged for, and certainly not something that we brought on. So for all practical purposes, we could be executing with perfection, but the opportunity could be stripped away from us. And we’ve seen it happen in gaming, you know, online gaming, you know, from a legislative or regulatory change.
But our commitment was we want to make sure we don’t sell any stock over the next 12 months. Our commitment to the shareholders on a lot of different things that we’ve done in the past is to align ourselves from that same standpoint. We experienced the reverse just the same as every other shareholder experiences the reverse. But I’m in this for the potential up listing downstream.
And, you know, having worked in Wall Street for ten years, and Mike had worked there for 15-17 years, you know, I know it’s a matter of time before that opportunity is available to us. And I know that opportunity should come with a significant opportunity for market cap expansion over where we are now in this illegal federal environment on the OTC. And so that just put us in the position to kind of save this opportunity for downstream.
I don’t know if it’s gonna happen in 12 months, but we are certainly positioning ourselves for that. And like I said before, the analogy is I want to make sure we’re standing on the front door with our tuxedo when the door opens for the party. I don’t want to be at home still getting ready, which was the catalyst for the reverse along with some other things, and it was the catalyst for the lockup."
https://www.sec.gov/Archives/edgar/data/1451512/000147793218001372/trtc_ex992.htm
meanwhile...
business is blümming!!!
Transcript of Q2 Conference Call
https://www.sec.gov/Archives/edgar/data/1451512/000147793218003921/trtc_ex992.htm
business is blüming!!!
I think our resident "Jester" was confused. We were discussing the transcript for the mandatory NJ meeting vs watching the long boring video, which oddly enough addressed most all the ridiculous questions that have been raised. Seems like a little more DD and a lot less spin would be in order. go figure...
business is blüming!!!