Bullish. Copied and pasted three releases from August. These communications did nothing to the share price. Surna could be bought for under three cents per share for most of the second half of 2020.
Expectations should remain guarded but breeze thru these descriptions of activity at the beginning of the 3Q. I remain bullish on 4Q results.
Boulder-based Surna inks $2.8M deal, largest in firm’s history
By LUCAS HIGH | BizWest / Daily Camera
PUBLISHED: August 7, 2020 at 7:42 p.m. | UPDATED: August 7, 2020 at 7:42 p.m.
Surna Inc. (OTCQB: SRNA), a Boulder-based manufacturer of growhouse equipment for the cannabis industry, announced this week a $2.8 million sales contract to develop a cultivation operation in Illinois, the richest deal in the firm’s history.
Surna CEO Tony McDonald stands inside ...
Surna CEO Tony McDonald (Jeremy Papasso / Staff Photographer)
That $2.8 million is more than the company booked in quarterly revenue in the first quarter, when the firm posted sales of $1.81 million.
The contract, which calls for 66,000 square feet of cannabis cultivation, drying and processing areas, comes at a critical juncture for Surna. As recently as June, the firm reported in regulatory disclosures that it has concerns about its long-term viability in the face of the ongoing COVID-19 pandemic and the nationwide economic downturn.
In Illinois, the firm is under contract to provide a full suite of climate-control products and technologies for the cultivation and processing spaces, according to a Surna news release.
“The team at Surna has worked diligently to secure the largest single contract in the company’s history,” Surna CEO Tony McDonald said in a prepared statement. “Now our operations and controls departments will be hard at work ensuring the delivery of a precisely controlled environment and on-time delivery of equipment to meet our customer’s requirements.”
Surna Reports Q2 2020 Results and Recent Sales Contracts
August 11, 2020 09:43 ET | Source: Surna Inc
Announces $3.1 million in New Sales Contracts in July
Boulder, Colorado, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA) announced today operating and financial results for the three and six months ended June 30, 2020, as well as recent new sales contracts.
* During the month of July 2020, we entered into several new sales contracts totaling approximately $3.1 million, including our largest-ever single contract for $2.8 million, most of which we expect to be realized as revenue in 2020.
Surna Introduces Expanded Services and Technology Offerings
August 25, 2020 09:15 ET | Source: Surna Inc
Announces Full MEP Design Services with Expansion of HVAC Technologies
Boulder, Colorado, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Surna Inc. (OTCQB: SRNA) today announced an expansion of its portfolio of services and products.
While Surna has been historically known for its expertise in 2 and 4-pipe chilled water solutions (also known as hydronic cooling and dehumidification), its new technology offerings include:
Direct expansion (DX) units with standalone dehumidification options, including split systems, mini-splits and packaged roof top units (RTUs).
Complex DX system options with integrated dehumidification via hot gas reheat and wintertime economization.
Desiccant solutions for low humidity applications.
Racking solutions for optimal airflow designs in tiered layouts.
Many clients have already benefited from Surna’s expanded MEP (mechanical, electrical, plumbing) engineering services incorporating the new technologies. Four recent contracts include the following designs:
Project in Missouri: Surna will provide engineering design services for cooling, dehumidification and wintertime economization using its new Complex DX RTU systems in a 33,000 square foot facility. Surna is also providing its new racking airflow design and technology in this tiered grow room design.
Project in Iowa: Surna is providing its design services and DX split systems with hot gas reheat for a 5,000 square foot indoor drying facility for industrial hemp production.
Project in Michigan: Surna provided engineering design services for cooling and dehumidification using its new DX split systems with hot gas reheat in a 1,200 square foot facility.
Project in Pennsylvania Surna will provide engineering design services using its new Complex DX RTU systems with integrated dehumidification in a 52,000 square foot facility.
The new technology offerings are driven by customer feedback and are evidence of Surna’s commitment to deliver innovative environmental control solutions to its customers, with the added convenience of obtaining products and MEP design services from a single source.
“These new products and services demonstrate Surna’s evolution and deliver on promises we have made to our customers and shareholders,” said Tony McDonald, Surna’s Chairman and CEO. “With this broader range of design services and greatly expanded product portfolio, we are able to provide optimal environmental control solutions for virtually any size and sophistication of cultivation facilities.”
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