CEA Industries Inc. (CEAD)

[SavageWest]

Letter to shareholders was a great summation of where Surna is today and how they got here. The following paragraph however is the monkey on their back. The negative working capital is a constant red flag keeping big money away and a signs of significant dilution coming in the near future. The several new contracts they’ve signed looks promising but there was no price tag attached. Probably wise to hold until after the release of their 10-K and conference call but the steady decline of SRNA has many waiting on the sidelines.




“Bottom line: We are in no way out of the woods. Though improved throughout the course of 2019, our working capital remains negative and is a constant threat to the viability of the business, so we must land more MFO and other contracts and we may have to raise capital again to fund our working capital needs and future growth.”