CapRock-Research is-Covering Surna, Inc. with $1.65/Valuation Driven-by Recent-Events
Last update: 05/02/2015 7:30:24 am
CapRock Research is Covering Cannabis Equipment Supplier Surna, Inc. (OTCQB: SRNA) with $1.65 Valuation Driven by Recent Events
ENGINEERING INNOVATIONS for LEGALIZED MARIJUANA issued by BrokerBank Securities, Inc.
NEW YORK, Feb. 5, 2015 /PRNewswire/ -- On Tuesday, January 13, 2015, Surna Inc. (OTCQB: SRNA) announced the finalization of a $1.1 million contract to design, build, and install the climate control systems for cannabis grower CWNevada. CWNevada was recently granted a grow license by the state of Nevada; and is one of the largest indoor cannabis cultivation facilities in Las Vegas, with a 48,000 square foot facility that will require over 700 tons of the company's cooling equipment. The state of Nevada is preparing its infrastructure for the growth and distribution of legal medical marijuana in 2015, after issuing 182 provisional licenses to medical marijuana cultivation facilities in November 2014; including 13 facilities in Las Vegas. The company will recognize revenues from this contract throughout 2015.
In addition, on Friday, January 9, 2015, the company announced signing a definitive agreement to acquire a controlling interest in Agrisoft Development Group, one of the leading software developers of "seed-to-sale" tracking systems for state regulated cannabis cultivation and distribution companies.
According to Arc View Market Research, the market for legal marijuana is expected to reach $2.57 billion in sales for 2014, growing from $1.53 billion in 2013. This growth is expected to continue, with the market reaching $10.2 billion by 2018. Between 2009 and 2014, the cannabis industry grew 16.2% annually, and growth is expected to increase to 23.3% annually between 2014 and 2019. Cannabis is currently the fastest growing industry in the United States. If marijuana is legalized at the federal level, revenues for the legal cannabis industry could reach $35 billion by 2020 according to Greenwave Advisors. Currently, 23 states have legalized medical marijuana, and two states, Washington and Colorado, have legalized marijuana for recreational use.
An analyst report update on SRNA that includes a brief company overview, market and competition breakdown, recent events, outlook, analyst summary, valuation, and recommendation can be viewed by using the following link at no cost:
bit.ly/--SRNA-AnalystReport
Copy and paste to browser may be required.
Forward-Looking Disclaimer
This report may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward- looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of mentioned company to be materially different from the statements made herein.
Not Financial Advice
BrokerBank Securities, Inc. make no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
Compliance Procedure
Content is researched, written and reviewed on a best-effort basis by a 3rd party research analyst. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below. We do not engage in high frequency trading.
A full disclaimer can be found by viewing the analyst report.
CFA(R) and Chartered Financial Analyst(R) are registered trademarks owned by CFA Institute.
AI
