Terra Tech Corp (OTCMKTS: TRTC) has been on the ascension in recent days since trading every bit low as $0.112 per share, a new all-fourth dimension low. This is a sad end for Terra Tech which is one of the original pot stocks on the OTCBB and once skyrocketed to well over $10 per share in early 2016.
The new lows come a few days after the Visitor announced on February 18 they have closed the previously announced merger with OneQor Pharmaceutical, a privately held over-the-counter (OTC) pharmaceutical company focused on developing, patenting, and delivering proprietary, constitute-derived formulations in order to provide consumers with safer, more effective OTC solutions. Terra tech shareholders will own approximately 79% of the combined visitor and OneQor shareholders will own approximately 21% of the combined company. The newly combined company plans to change its name to Onyx Grouping Holdings and expects to trade on the OTC Market under a new ticker symbol to exist announced in the near futurity.
Terra Tech Corp (OTCMKTS: TRTC) bills itself as an operator of multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm’s retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-utilize market in Nevada and California. Blüm offers a wide selection of cannabis products including; flowers, concentrates and edibles through its multiple California and Nevada locations. IVXX, Inc. is a wholly owned subsidiary of Terra Tech that produces cannabis-extracted products for regulated cannabis dispensaries throughout California and dispensaries in Nevada. The Company’south wholly owned subsidiary, Edible Garden, cultivates a premier make of local and sustainably grown hydroponic produce, sold through major grocery stores such equally ShopRite, Walmart, Ahold, Aldi, Meijer, Kroger, Stop & Shop and others nationwide. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and developed-use cannabis cultivation and permitting businesses throughout Nevada.
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Microcapdaily has been roofing TRTC for years, we 1st covered information technology on November iv, 2014 reporting at the time “TRTC was ane of the first stocks on the scene in the cherry-red hot Cannabis sector. It fabricated a fantastic run up earlier this yr to highs over $1.25 that many investors bought into. Since then it has dropped seeing a contempo low of $0.21 which it has been moving upwards off of. The Company articles state-of-the-art growhouse equipment that is now sold word-wide. Their Edible Garden produce is sold to supermarket bondage SHOPRITE HOLDINGS LT (OTCMKTS.SRHGF) Food Emporium, Demoulas and others in New Jersey, New York, Delaware, Maryland, Connecticut, and Pennsylvania.
Nosotros noted in 2016 – The Visitor is run by Derek Peterson a former Vice President at Morgan Stanley who styled himself equally the public spokesperson for medical and legalized marijuana”. He left Wall Street because he saw a huge opportunity in medical marijuana. His vision is setting upwardly growing facilities in diverse states to grow herbs such every bit basil and thyme with plans to switch to Marijuana production as state laws permit. Co-ordinate to online sources Derek Peterson and his wife Amy Almsteier were charged with accepting illegally issued securities and selling these shares. This followed Petersons filing for personal bankruptcy.
OneQor is an innovative, cannabinoid-focused pharmaceutical company, concentrating on the evolution, manufacturing, and delivery of patented, proprietary OTC products to established suppliers and consumer brands. OneQor shortly has a number of ongoing case studies utilizing CBD as well every bit other Cannabinoids and is in the planning stages of subsequent studies targeting opioid cessation, sleep disturbances, chronic pain, and inflammation. OneQor has also filed patent applications covering a wide scope of technical and clinical innovations. All OneQor products are/volition be manufactured in a facility that is FDA-approved for OTC drugs. Lastly, OneQor is currently in late-stage talks with established national retail bondage to codify and supply them with their individual-label topical cannabinoid-based wellness products.
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As nosotros said back in 2016 –
TRTC is one of the original pot stocks on the OTCBB with a long history of huge moves when the sector heats upwards,; TRTC is a master at injecting itself into the Cannabis sizzle. Currently trading at a $16 1000000 market valuation TRTC trades at a fraction of the prices it allowable simply a few short years ago. This is a visitor that reported $17.vii one thousand thousand in sales for the 9 months concluded, September 30, 2019, once the new ticker symbol is established this will be one to watch. On the bright side for DP and Amy, they will no longer exist forced to file form 4s.
We will be updating on TRTC when more details emerge so make sure you are subscribed to Microcapdaily and then you know what’s going on with TRTC.
Disclosure: we agree no position in TRTC either long or brusque and we have non been compensated for this commodity.