I do not hate this company Green. I hate how they screwed all the long shareholders, and used every financial trick and tool that toes the line of being legal to screw the share holders and line their pockets with money at our expense.
Its the way derek peterson tried to get over on the shareholders during the PREFERRED SHARE RATIO CON
It was the way they lied about the IVXX quality control issues and never told shareholders, but quietly sold all their shares before the bad financials were released.
It was the way Derek hired known sec criminals to his board of directors
It was the way Derek hired the biggest insider enrichment guru ever. Michael James (he uses a fake name) This man stole millions of dollars from people invested in NRTI and diluted the stock down to .001
The fact that Derek Peterson hides from his criminal past and thinks changing his name hides everything.
The fact that they diluted 1 billion shares...... and now have to reverse split
To get an inside look at TRTC’s reckless dalliance with convertible notes, go no further than its quarterly reports. Its 10-Q for the quarter ended June 30, 2017, notes that “during the six months ended June 30, 2017, senior secured convertible promissory notes and accrued interest in the amount of $8,839,084 were converted into 50,710,473 shares of common stock.”
How bad is the impact of TRTC’s convertible note addiction on common shareholders? The table below, which illustrates the rate at which outstanding shares have increased over the past five years, answers this question.
Year TRTC shares outstanding
2012 76.89 million
2013 99.04 million
2014 174.3 million
2015 240.19 million
2016 389.36 million
As of December 11th 2017 903.17 million
Shares outstanding nearing authorized shares of 990 million
In five years, TRTC’s shares outstanding have increased more than tenfold and are now inching dangerously close to its authorized shares of 990 million. This means that going forward there is very limited room for TRTC’s debt holders to convert their debt into new shares. This heightens the prospect that TRTC may default on its debt. In case this happens, shareholders will be first to lose as debt owners will foreclose on the assets. This is the benefit of being a debt holder as opposed to being a shareholder. Debt holders usually have the first claim on a company’s assets in the event of foreclosure.
I understand because of the federal regulations that they have to dilute some shares to grow. But diluting 550 million shares in 12 months is excessive, especially when you had over 70 percent of your assets all ready in place. I mean they did not have to buy most of their dispensaries...they were rewarded by permit. They do not own some of the properties, and pay monthly rent..which is mind bending to understand.
The build outs for a dispensary is at best and in my opinion way over bloated at 1 million each
Lets say a grow facility like EG in nj is an over estimated number of 5 million
So we are talking 7 to 10 million dollars for everything
Now when it comes to blum oak...i still do not know the true numbers and exchange of share.ownership on that dispensary, but i heard a huge number of 60 million which i do not believe
SO EG revenue could have paid for 90% of TRTC total growth, give or take 1 or 2 toxic financing deals
That does not include the expenses being paid back to them selves in the form of security and rent.
SO where did the dilution of 990 million shares diluted go?
Lets say an average of high and lows of .40 pps at 990,000,000 shares = Thats $396,000,000 !
Lets just be generous and wrap up the real costs for everything at very generous $100 million dollars
Thats including pays offs, lawyers, and jet flying around the country.
Where is the $296,000,000 ??? Your gonna tell me that they needed to do this latest round of toxic financing for 3 million dollars? lol really???
They did it because they can...and will milk the share count dry...and leave no crumbs on the table. cause they can...
Last and not least..Derek peterson can reset the whole shareholder con after doing a reverse split.
Cause he can...
They are just greedy insider enrichment criminals... ever notice they never itemize the expenses every quarter? lol
