Cash is $5M
On July 31, 2014, the Company entered into a letter agreement with Dominion Capital LLC, amending the Securities Purchase Agreement dated February 5, 2014, by and between the Company and Dominion. Pursuant to the terms and conditions of the Letter Agreement, the funding obligations of Dominion under the Purchase Agreement were accelerated. On July 31, 2014, Dominion funded, in a single tranche, $2,750,000, to the Company. The $2,750,000 was the balance of $6,550,000 due to the Company under the Purchase Agreement. On August 8, 2014 the company filed with the Securities and Exchange Commission a Form S-1 for the resale of securities underlying this financing. The acceleration of this note increases the company's cash reserves to approximately $5 Million.
"The company has built a stable cash reserve to manage continued operations, invest in strategic opportunities and finance potential acquisitions. While raising capital adds to the share count it is necessary to execute on our business plan. Management is focused on engaging in accretive opportunities with the capital we raise in an effort to return shareholder value," explains Mike James, CFO Terra Tech.
News 
Market Data 
Discover 
