"... Edible Garden revenues increased 40% as our expanded offerings drove sales growth. Our gross profit for the first quarter ended March 31 2018 was $1.6 million compared to a gross profit margin of $400,000 for the first quarter ended March 31 2017, an increase of $1.7 million or 358.8%.
The Edible Garden herbs and produce segment gross profits increased from a negative $53,000 for the first quarter ended in March 31 of 2017 to positive $21,000 for the first quarter ended March 31st of 2018..."
...revenues increase by 40% and gross profits increased by an astounding 358.8% - WoW!!
Here are a few key areas in the suit trtc has filed against the VV's. could it all be related somehow? lmao
Definitely would NOT want to be in their shoes.
the VV's that is. Here is a few “lowlights” in the lawsuit trtc filed against the VV's and I for one can say I would not want to be in their shoes if this hits a courtroom, lol.
"…committed fraud against Terra Tech, stole its intellectual property, proprietary information, and usurped corporate opportunities intended for Terra Tech in order to benefit of GRO-RITE and NATURALLY BEAUTIFUL."
"…diverting Terra Tech opportunities to Vande Vrede family entities including but not limited to opportunities with Chill Waze, CBD Water and Cultivar, three companies that would have offered Terra Tech strategic and lucrative corporate alliances."
"…disseminating Terra Tech’s proprietary application documents and process to other entities for the benefit of the Vande Vrede entities including GRO-RITE."
"…failing to disclose conflicts of interest between their positions as officers and employees with Terra Tech."
"…using Terra Tech intellectual property including, but not limited to, Daily Revenue Reports, Nevada Cannabis Permit Applications, Compliance Memorandums and Terra Tech Google Analytics in order to usurp opportunities intended for Terra Tech and divert them to the Vande Vrede family entities."
"…using Terra Tech employees to produce PowerPoint presentations, and engage in other work, which was subsequently used to divert opportunities from Terra Tech to the Vande Vrede family entities."
"…using Terra Tech money to expense items that were used for the benefit of the diversion of these opportunities and the Vande Vrede family."
"…attempted to usurp or did usurp an opportunity Terra Tech had with Cultivar for their GRO-RITE, NATURALLY BEAUTIFUL and/or Vande Vrede family businesses."
"Instead of providing that opportunity to Terra Tech or Edible Garden, he forwarded the email, with the opportunity, to Defendants… …who were operating competing entities, GRO-RITE and NATURALLY BEAUTIFUL."
"…used Terra Tech’s name as a way to develop opportunities with vendors and business partners. Once a dialogue was opened, however, he dropped Terra Tech without informing anyone at Terra Tech, including other executives or members of the board, and instead pursued these opportunities for his family businesses and GRO-RITE."
"… Chill Waze CEO Vincent Gareffa emailed Defendant… …at his Terra Tech email address to pitch Chill Waze’s idea for partnering with Terra Tech."
"…never provided anyone at Terra Tech or Edible Garden the opportunity to hear Chill Waze’s pitch and, instead, copied Defendant DANIEL VANDE VREDE at GRO-RITE on all emails he exchanged with Chill Waze."
"…used Terra Tech resources for his own personal gain when he used his Terra Tech American Express credit card to pay for lunch with Chill Waze."
"…at his Terra Tech email address to break down ownership of Chill Waze and attached a PowerPoint presentation, which identifies Defendant as a “Silent Partner/Operations” and Defendant DANIEL VANDE VREDE as “COO/Inventory and Logistics”. Moreover, the PowerPoint presentation indicated that the warehouse was going to be the GRO-RITE location in New Jersey, implying that Chill Waze intended to compete with Terra Tech in New Jersey."
"…asked a Terra Tech employee to send over the Terra Tech Property ID in order to login and access google analytics for the Terra Tech website… …immediately forwarded Terra Tech’s Property ID to CEO Gareffa at Chill Waze so that he could login as a Terra Tech user and access Terra Tech proprietary information."
"…using Terra Tech’s name and resources to attract vendors and business partners, but then keep the opportunities for his family… …took an opportunity presented by Ken Voorhees of Ungerer & Co on February 6, 2018, for the Plant Based organic CBD Water packer."
"…at his Terra Tech email address and stated, “Organic CBD Water 50% Vande 50% Voorhees, $50k each initial seed money. We can open after launch to others."
"…charged his parking In Morristown, New Jersey, to the Terra Tech corporate credit card for that meeting…"
"Daniel Grover from the Great Meadows Design Group emailed Defendant KENNETH VANDE VREDE at his Terra Tech email address to ask Defendant KENNETH VANDE VREDE if he had sent over the executed contract or non-disclosure agreement… From January 31, 2018 through February 22, 2018, the two exchanged emails regarding corporate names and obtaining a New Jersey cannabis permit for “Lincoln Park and Belvidere locations.”"
"…received emails at his Terra Tech email address from Thomas Mastrangelo, a cannabis lobbyist, to discuss the next potential steps in growing the cannabis side of the Vande Vrede family business with GRO-RITE."
"…received an email at his Terra Tech email address from Quantum 9 CEO Michael Mayes… …forwarded the email from CEO Mayes to Defendants… …stating “Help us write our family cannabis permits for NJ.”… …responded and asked, “What’s this for?” Defendant KENNETH VANDE VREDE responded, “Consultant that will help our family write the NJ cannabis application for us. Scored #1 in PA. Has a 93% success rate.”…"
"From August 25, 2017, through February 6, 2018, Defendant KENNETH VANDE VREDE exchanged emails at his Terra Tech email address with CEO Mayes from Quantum 9, which culminated in Quantum 9 sending a work order, contract and non-disclosure agreement to Defendant KENNETH VANDE VREDE, which he forwarded to himself at his GRO-RITE email address, identifying GRO-RITE as the contracting party with Quantum 9 and the entity that would benefit from the work order from Quantum 9."
"…emailed Terra Tech’s proprietary Nevada Permit Applications to Mark Hanselman and David Alston, individuals who are not affiliated or associated with Terra Tech."
"…emailed with David Hollberg, the Pequannock, New Jersey Township Manager/CFO. They agreed to set up a meeting, which took place on January 10, 2018, at GRO-RITE, to discuss GRO-RITE’S application to grow cannabis."
"…used Terra Tech’s proprietary application documents to submit an application to Pequannock Township."
"…attended Terra Tech board meetings on September 26, 2017, and December 19, 2017. At each of these meetings, the board expressly asked Defendant KENNETH VANDE VREDE whether his family was competing with Terra Tech in cannabis. He misrepresented that they were not. In actuality, Defendant KENNETH VANDE VREDE led the family business charge to focus on cannabis cultivation in New Jersey."
"…were to work at least 30 hours per week. However, they worked no more than 28 hours per week there by obtaining benefits for themselves and their family under false pretenses and effectively, stealing Terra Tech resources."
WoW, looks like while shareholders are getting fitted for their tux the VV's will be getting fitted with orange jumpsuits.
I think this part is particularly hilarious...
"...The VandeVredes are seeking, among other things, a declaratory judgement that the they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the VandeVredes to their status with the Company and Edible Garden prior to their suspensions..."
lol, they ALL want their jobs back... bwaaahaaahaahaahaha...
maybe the vv's haven't realized it yet or maybe they have... but ain't nobody out there going to want to do business with back stabbing opportunists like them, lol.
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