Revenues. For the year ended December 31, 2014, we generated revenues of $7,094,270 compared to $2,125,851 for the year ended December 31, 2013, an increase of $4,968,419 or 234%. The increase was primarily due to revenues generated by Edible Garden, which we acquired in April 2013. Now that Edible Garden’s greenhouse facility is complete, we anticipate further growth in the revenues generated by Edible Garden.
Revenues. For the six months ended June 30, 2015, we generated revenues of $5,787,643, compared to $4,272,120 for the six months ended June 30, 2014, an increase of $1,515,523. The increase was primarily due to revenue generated by Edible Garden Corp for the sales of its herbs and floral products and IVXX from the sale of its cannabis products
Gross Margin. Our gross profits for the six months ended June 30, 2015 was $491,329, compared to a negative gross margin of $97,547 for the six months ended June 30, 2014, an increase of $588,876. Our gross margin for the six months ended June 30, 2015 was 8.49%, compared to negative 2.28% for the six months ended June 30, 2014. The increase in gross margin was primarily due to better margins from Edible Garden as a result of the completed greenhouse facility with high-tech Dutch bucket hydroponic equipment and the sales generated from IVXX from the sale of its cannabis products
Selling, General and Administrative Expenses . Selling, general and administrative expenses for the six months ended June 30, 2015 were $5,693,131, compared to $6,095,882 for the six months ended June 30, 2014, a decrease of $402,751[/i]
Belvidere, July 07, 2015 (GLOBE NEWSWIRE) -- Terra Tech’s wholly owned subsidiary Edible Garden Corp. applied for and was approved for New Jersey’s Clean Energy Pay for Performance Program. Edible Garden Corp. will be receiving a total of approximately $300,000 over the next nine months. The first check has been received in the amount of $21,368.40. New Jersey's Clean Energy Program is a statewide program that offers financial incentives, programs and services for New Jersey residents, business owners and local governments to help reduce the State’s energy usage, peak demand, as well as to transform the marketplace for the next generation of energy efficiency technologies. Edible Garden has made significant investments into their New Jersey facility to increase productivity and automation while decreasing their carbon footprint and energy consumption.
NEWPORT BEACH, Calif., Oct. 15, 2015 /PRNewswire/ -- Terra Tech Corp. (OTCQB: TRTC) ("Terra Tech") or (the "Company"), a vertically integrated cannabis-focused agriculture company, today announced that IVXX, the Company's proprietary brand of premium cannabis products, is now available at 60 additional medical cannabis collectives located in Orange and San Bernardino Counties, California.
TRTC ADDS OVER 300 WALMARTS FOR THIER PRODUCE!!!! Tech Corp (TRTC) subsidiary Edible Garden, an urban
agricultural company, is pleased to announce they are expanding
their line of naturally grown living produce to multiple Walmart
distribution centers. Last year the company was given a trial
run through one Walmart distribution center in the Northeast, which
serviced approximately 75 stores. Recently Edible Garden was
informed Walmart would be adding the Edible Garden line to 4
additional distribution centers located throughout the Northeast as well as the Midwest. Each distribution center services
approximately 75 retail stores. The company received the
opportunity to service additional markets because they consistently delivered high quality, fresh produce since they began servicing
Walmart last June.
