Remember the BlumOak merger !
Why did most insiders or owners accept cash (over 2 million dollars) in lieu of shares ?
The most glaring issue is the "B" shares. All of the insiders had "B" which were converted to commons after AB wrote that article.
So how can insiders justify being issued another set of "B" shares.
"B" shares convert to 5.3 shares for 1 "B" share. ( B shares contain the assets of TRTC IMHO)
THE CEO sold all his common shares and bought a 1.3 million dollar home along the coast of California.
At this time none of the 50 million "NEW" "B" shares have been issued.
I predict the day will come where TRTC will use those "B" shares to re-compensate insiders and or buy Blum Oak, 30 Henberger loop and 1911-1925 Fairway drive. Why ? all that real estate is owned by past insiders IMHO
"MARTIN KAUFMAN: I'm Martin Kaufman, I'm here as the CEO and co-founder of Grasshopper Kiosks, which can be found at GrasshopperKiosks.com.
DEAN BECKER: Well, I was just out, you know, touring the convention here, the California cannabis business associates, and your's stood out to me. It looked user friendly, it looked useful, and like a sign of the what's to come in the future, I believe.
MARTIN KAUFMAN: Thank you.
DEAN BECKER: This is a multi-billion, hell, some day it's going to be a trillion dollar industry. Tell us about your product, what is it good for, how does it work?
MARTIN KAUFMAN: Absolutely. Well, I'd love to give you a little bit of the history, so, you know, we've been in the industry for over a decade now. My wife, myself, and a couple associates of ours co-founded a dispensary chain called Blüm, ü with an umlaut m, it's now publicly traded under a company called TerraTech. '
Michael James the CFO who was compensated at a rate of 83,000 dollars a month to do the books for TRTC was fair and reasonable ?
I wonder who are some of the wholesale suppliers for Blum Oak ?
"During the twelve months ended December 31, 2016, the Company purchased $76,638 in products from an entity owned 9% by Mr. Kaufman"."
Who owns the Security company that protects BlumOak at a cost of 35,000 a MONTH ?
"The Company pays approximately $35,000 per month to an entity owned 50% by Mr. Kaufman to provide security at the property where its Blum Oakland facility is located. "
Shareholders have been paying 24,000 a month since last January for the proposed San Leandro retail store that is still not open.
Who are the landlords?
"The Company pays $24,000 per month in rent for the property where its San Leandro, California dispensary and production facility is located to an entity owned 50% by Mr. Kaufman and Ms. Ibrahim"
Shareholders paid 22 million for BlumOak and yet they still pay rent to insiders?
"An entity owned 100% by Mr. Kaufman and Mr. Ibrahim owns the property where the Company’s Blum Oakland facility is located"
" Martin Kaufman and Salwa Ibrahim, each of whom beneficially owns more than 5% of our outstanding Common Stock." How come they are not required to file a 4 form showing their "B" shares becoming common ?
