Cannabis U.S. Companies

[JohnCM]

Terra Tech Reverse-Split Ahead

March 12, 2018 at 3:00 pm

Breaking News by Alan Brochstein, CFA

Terra Tech (OTC: TRTC) traded sharply lower today after initial strength following news that the company is conducting a 1:15 reverse-split on March 13th, a move that was revealed on FINRA’s website:

Shareholders approved a potential reverse-split last year, with the Board of Directors authorized to do so by September 25, 2018, as reported in an SEC 8-K filing in late September. In the proxy, the Board justified it by suggesting that it would help meet quantitative standards to become listed on a higher tier exchange, to encourage greater investor interest and promote greater liquidity and to maintain capital-raising ability.YUP, THEY ALL USE THIS AS AN EXCUSE AFTER DILUTING SHAREHOLDERS

CEO Derek Peterson has repeatedly suggested that the company wouldn’t do a reverse-split without a good reason, suggesting that it would take place in conjunction with either a move to a higher exchange or as part of an acquisition. The company, which has scheduled a conference call for Thursday afternoon to discuss its Q4 financials, currently has 990 million shares authorized and 975 million shares outstanding. 65,000,000 LEFT WHEN ALL SAID AND DONE