Folks, I think a heavy dose of caution is advised here. This is not a slam-dunk good or bad thing that happened (withdrawal of the S-3). Whether this was a good or bad move for current shareholders really depends on the context of why TRTC made this move.
Possibilities Include:
-TRTC found alternative/private financing
-TRTC felt like the S-3 was more than likely going to be denied so they withdrew it, and are writing up an S-1 as I type
What is highly unlikely:
-TRTC is making enough cash from Edible Garden that it no longer needs the S-3
I'm sorry folks, but there is no way that TRTC is making enough profit that they said, "$50,000,000? No thanks." Why do I say this? Look at the Cost of Goods Sold.
Derek has been touting this S-3 since they filed it, with many comparisons made to bigger corporations.
The simple fact of the matter is this: TRTC needs money to continue operations. They have disclosed this themselves. They planned on the money coming from the S-3. That is no more. Where will the money come from?
Loans? S-1? Private offering?
Are any of these *GOOD* from a shareholder perspective?