Terra Tech Corp. (OTC: TRTC) a vertically integrated cannabis-focused agriculture company, recently announced its second quarter 2016 financial results for the period ending June 30, 2016. Derek Peterson, CEO of Terra Tech, commented, "We reported record revenues of $9.7 million in the second quarter of 2016, representing an increase of 93% compared to the prior year period. This excellent result was primarily driven by higher cannabis sales from our two new Blum dispensaries in Oakland, California, and Las Vegas, Nevada. In addition, our overall gross margins also grew from 5% to 17% year-over-year. This was the first reporting period that our top-line results benefited from our brick-and-mortar retail store locations and we are very pleased with the traction our dispensaries have generated. We expect to experience further benefits from our vertically-integrated, seed-to-sale structure, such as improved margins and better brand recognition in the market, as our retail operations scale. Looking ahead to the second half of 2016, we will open a further three Nevada-based dispensaries by the end of the summer season, including our next location at 3650 South Decatur Boulevard, Suite 6 & 7, Las Vegas, Nevada, which will host its Grand Opening later this week, on August 20th, 2016.
GrowLife, Inc. (OTC: PHOT): is a cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Through a nationwide network of local representative, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media (farming soil), industry-leading hydroponics equipment, plant nutrients, and thousands more products to specialty grow operations.
