many of these have been answered already and others are way to involved for a conference call but...
""However, the Company incurred net losses for the quarter ended March 31, 2016, and has an accumulated deficit of approximately $50.1 million at March 31, 2016. The Company has not been able to generate sufficient cash from operating activities to fund its ongoing operations. There is no guarantee that the Company will be able to generate enough revenue and/or raise capital to support its operations. These factors raise substantial doubt about the Company's ability to continue as a going concern.""
not a question, standard disclaimer
"As of April 7, 2016, there were 349,739,408 shares of our Common Stock issued and outstanding. We are obligated to issue up to an additional 386,971,104 shares of our Common Stock to contemplate the conversion or exercise of all of our currently outstanding Preferred Stock, warrants, options, and convertible debt; however, as of April 7, 2016 we had an insufficient number of authorized shares of our Common Stock to satisfy such obligations.""
not a question, standard disclaimer
"On March 31, 2016, the Company issued a demand promissory note in favor of Dominion Capital LLC ("Dominion") in the amount of $750,000. The principal and interest under the demand note is due and payable on demand, but in no case later than June 30, 2016. Payment may be made in either cash or shares of the Company's common stock, at Dominion's option. Dominion may also, at its option, convert the demand note into a subsequent securities offering that is undertaken by the Company. Interest accrues at the simple rate of one percent (1%). The Company received the $750,000 on April 1, 2016."
not a question
"April 1st 2016 Shares of Terra Tech common stock issued to Black Oak shareholders at closing 36,960,989"
not a question, touched on below
"On April 29, 2016, the Company issued a demand promissory note in favor of Dominion in the amount of $500,000. The demand note matures on the earlier of July 31, 2016, or on demand. Payment may be made in either cash or shares of the Company's common stock, at Dominion's option. Dominion may also, at its option, convert the demand note into a subsequent securities offering that is undertaken by the Company. Interest accrues at the simple rate of one percent (1%). The Company received the $500,000 on May 3, 2016."
not a question
"We incurred a net loss of approximately $4.1 million, or $0.01 per share, for the quarter ended March 31, 2016"
not a question
"We anticipate requiring additional capital for the commercial development of our subsidiaries. We anticipate we will need an additional $13.5 million in capital for the commercial development of MediFarm, MediFarm I, and MediFarm II. In April 2016, MediFarm commenced operations at its dispensary located in Las Vegas"
not a question
Now on to the copy/paste section
"1)How can shareholders of a publicly traded company benefit by investing in not for profit companies?"
duh...
"Both of these applications failed but the question remains the same.... if they had been approved the shareholders would have an additional burden of close to ten million dollars where the return at best was 5% loan .(TRTC past financing was at a cost of 12%) Please explain !"
bwaahaahaha, irrelevant to trtc since it's not happening
"2) Can you please explain why you agreed as part of the merger of BlumOak to pay an operator of BlumOak 500,000 the first year and then 550,000 the second and 600,000 the third ?."
In connection with the Merger, we also entered into an Operations and Asset Management Agreement dated March 31, 2016, by and among Platinum Standard, LLC (the "Operator"), Black Oak, and us (the "OMA"), whereby the Operator has agreed to operate and maintain the Dispensary and provide certain asset management services related to the "Blüm" brand, real estate matters, and industry developments as to products and best practices related to all aspects of the Dispensary. The Operator is comprised of those individuals who operated the Dispensary immediately before the Closing Date. Pursuant to the terms of the OMA, we agreed to pay the Operator an annual fee of $500,000 per year. If, between April 1, 2016 and March 31, 2017, the revenue projections for the Dispensary are met, the annual fee increases to $550,000 for the next 12-month period, and, if after that second 12-month period, the revenue projections are again met, the annual fee increases to $600,000 for the third 12-month period. Commencing on the fourth 12-month period, the annual fee will be equal to 3.5% of the gross revenues from the operation of the Dispensary. The Operator is also entitled to additional fees in connection with the operation of a cultivation center located at the Dispensary equal to 50% of the net profits for the first three of the 12-month periods that the OMA is effective. The OMA has a term of ten years, with an option to renew for another ten-year period upon mutual agreement of Platinum and us. The OMA will automatically terminate if the Dispensary's operating revenue drops 20% from one year to the next after the first three-year period or if we cease operations at the Dispensary. The foregoing description of the OMA is only a summary and is qualified in its entirety by reference to the full text of the OMA, which we currently expect to file as an exhibit to our Quarterly Report on Form 10-Q for our quarter ended March 31, 2016.
"3) Transparency is very important. One name keeps coming up as it relates to TRTC yet he is not considered an insider. Could you explain the complete roll of Martin Kaufman as it relates to TRTC' finances."
During the years ending December 31, 2015 and 2014, we purchased building and construction services totaling $1,470 and $4,750, respectively from SK Builders, Inc., a California professional corporation, which is controlled by Martin Kaufman, Director of Security of the Company. No amounts were owed to SK Builders at December 31, 2015 and 2014.
During the years ending December 31, 2015 and 2014, we purchased monthly security guard services from Core Security Solutions, Inc., a California corporation, which is controlled by Martin Kaufman, Director of Security of the Company. Such amounts were $301,986 and $351,763, respectively. Any amounts owed at December 31, 2015 and 2014, were immaterial and are part of our normal course of business.
"In the filings Martin Kaufman received shares of TRTC has part of the Merger agreement. Can you explain why?"
Additionally, during the year ended December 31, 2013, the Company agreed to exchange shares for certain services from Derek Peterson and Martin Kaufman, related parties. The Company determined the value of these services to be de minimis .
On March 31, 2016, in connection with documentation required for the closing of the Merger, the Company determined that it had not issued the exercised or earned shares as noted above. As a result, the Company certificated 29,772.74 shares of the Company's common stock as follows: i) 19,886.37 shares to the equity holders of Boss, which shares represented a 50% ownership interest in the Company immediately prior to the closing of the Merger; ii) 3,522.73 shares to Derek Peterson, and iii) 6,363.64 shares to Martin Kaufman. Consequently, immediately prior to the closing of the Merger, the number of issued and outstanding shares of the Company's common stock was 39,772.74
"5) There is much controversy and confusion over the Proxy vote on the Reverse Split. If a Reverse Split occurs will the common shares be treated equally to the Preferred shares, especially the "B" preferred ?"
Yes
"6) On Feb 9th 2016 Washoe County Commission directed staff to draft an ordinance that would not allow recreation marijuana to be sold in Medical Marijuana dispensaries in Washoe County. TRTC just spent 1.2 million dollars on your Blum Reno dispensary and millions more are planned to be spent on Blum Dispensaries in Las Vegas. How will TRTC respond to such proposed limitations?"
By selling recreational marijuana legally alongside medical marijuana
"7) What is the current status of the investigation and/or litigation of Anson Funds and Norman Gates for alleged manipulation in the Clark County voting process and share price?"
A drawn out federal lawsuit involving a quasi-legal business would have costs trtc many millions and an insane amount of time and resources and at the end of the day Norman Gates aka @laughinpaulryan is a broke a$$ bus driver in nj. After all, the truth came out and trtc received all 8 licenses applied for, it just took a little longer and the pps rebounded. Dp stated this in an interview somewhere. For those unfamiliar here are links that give the basics;
"8) In the Proxy proposal is two issues that conflict with each other in the opinion of some shareholders. Why does the company want to increase the share count to 990 million and then do a Reverse split later to shrink the number of shares ?"
Those shareholders can take a beginner course on how to start and run a business
"9) Can you break down the improvements done to BlumOak that costs 800,000 dollars ?"
Don’t have anything here other than I’m sure the lab and production area needed some kind of remodeling. Also, the interior of all the blüm locations look similar so that probably needed a few touches as well.
"10) In reading the new NEvada Laws pertaining to recreational Marijuana they talk about an 18 month period to issue retail licenses. I understand current Medical Marijuana Licenses like Blum will get priority. What do you feel would be a realistic date to start retail sales and do you feel Washoe and Clark County will allow those sales from Blum Stores or will you have to create retail stores."
July 1, 2007 and Yes, we will be selling recreational marijuana right along medical marijuana at all our NV locations
"11) Can you go into detail about the first 90 days that Blum on Western Ave has been open? What is the number of patients registered? What was the revenue versus product costs and expenses. What was the final construction costs for Western?"
Ball park it, I’d be interested in this myself. Finally a good question!
"12) Blum on Decatur will open on Aug 20th. Can you give a ballpark figure what was the construction costs to open the door?"
Why? It’s in the filings mixed in with other expenses. Try the 3rd Q of ’16 report and guess
"13) Do you feel by the end of 2016 revenue from Blum stores and IVXX sales in NEvada will cover construction costs and daily expenses and costs of product?"
Another good question
"14) Is there an IVXX Production site currently in operation in the state of Nevada?"
Yes, they sell ivxx™ products so Yes there is an ivxx™ production site in nv
"15) What are the sales from products purchased via Theraputic Medical LLC and when and how will the company pay the 1.2 million for same?"
Asset Purchase Agreement :
On March 10, 2016, the Company entered into an Asset Purchase Agreement (the "Purchase Agreement") with Therapeutics Medical, LLC (the "Seller"), pursuant to which the Company acquired from the Seller certain assets (the "Assets") related to a business engaged in the research, development, and marketing of nutraceutical supplements. The Purchase Agreement provides that the Company will issue a Convertible Promissory Note (the "Convertible Promissory Note") due September 10, 2017, to the Seller in the principal amount of $1.25 million for the purchase of the Assets. The Convertible Promissory Note accrues interest at the rate of one percent per annum, and is convertible into shares of the Company's common stock at a conversion price equal to 90% of the average of the lowest three (3) volume-weighted average prices of one share of common stock for the five (5) consecutive trading days prior to the conversion date.
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