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| TRTC Second Quarter Results and Conference Call |
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 Hot Stock to Watch |
Company: Terra Tech Corp (OTCQX: TRTC)
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Last:
Price: 0.2466
Change (%): - 0.0234 (8.66)
Volume: 9,102,222 |
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Terra Tech Corp. Reports Financial Results for the Second Quarter of 2017
IRVINE, CA-(Marketwired - August 08, 2017) - Terra Tech Corp. (OTCQX: TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced its second quarter 2017 financial results for the period ended June 30, 2017.
Derek Peterson, Chief Executive Officer of Terra Tech Corp., commented, “We saw a continued strengthening in demand for cannabis products as sales from both our wholesale IVXX brand and our Blüm dispensaries continued to gain traction. Total cannabis segment revenues were 6.0 million dollars in the second quarter of 2017, compared with 3.8 million dollars in the comparable period in the prior year. The second quarter momentum is expected to accelerate in the second half of the year, boosted by adult-use cannabis sales in Nevada, which commenced in July 2017.
“Edible Garden, which produces fresh, locally-grown herbs and lettuces, continues to provide steady cash flow for the business and we are constantly exploring opportunities to maximize its growth potential. To support these efforts, we chose to discontinue its low-margin floral products, which will enable us to focus our resources on more profitable produce lines in the future. To drive growth in this business, we are also currently implementing a new marketing campaign to improve brand recognition among Edible Garden’s ‘healthy living’ consumer base.
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