Small Cap Voice

Brian Cox, CEO of Surge Holdings, Inc. (OTCQB:SURG), a holding company with diverse business operations in FinTech, Telecommunications and Media, answers questions and provide a business update for 2020. Surge Holdings announced their first quarter sales increased to $15.8 million, a $60 million annualized revenue run rate which reflects a 307% increase in sales versus the same period last year. Brian Cox stated, “I am excited to have the opportunity to engage with our shareholders and look forward to seeing their questions as well as share our recent results and progress moving forward in 2020.”

Surge Holdings, Inc. and its subsidiaries engage in diverse business activities in FinTech and Telecommunications with a focus on the underbanked and Media. For more information on Surge Holdings, its brands or subsidiaries, please visit: https://surgeholdings.com.

Michael Mo, CEO of KULR Technology Group, Inc. is Featured in a New Audio Interview with SmallCapVoice.com

Michael Mo, CEO of KULR, called in to SmallCapVoice.com, Inc. to go over his Company’s business model and the markets that they operate in. KULR Technology Group, Inc. develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the Company’s roots in developing breakthrough cooling solutions for NASA deep space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer.

KULR’s disruptive thermal management technologies strive to fulfill an addressable $24 Billion thermal management systems market. KULR’s integrated design approach offers comprehensive solutions in thermal interface materials, lightweight heat exchangers, and protection against lithium-ion battery thermal runaway propagation. Their high-performance solutions can be designed to fit almost any power or electronic configuration, including extremely demanding spaces or for applications where size and weight restrictions are a concern.

Josh Tannariello, CEO of MasterBeat Corporation is Featured in a New Audio Interview with SmallCapVoice.com

Speaking with SCV’s Stuart Smith, Tannariello provides his personal insights into the recent news and moves for the company, the milestones achieved by the company, the goals for the remainder of 2020 and much more.

The MasterBeat strategy is to be a unique acquisition company organized for the special purpose of effectively assessing and developing hard assets through acquisitions, partnerships and any other strategic business opportunities that align with our aggressive growth strategy in hard tangible asset acquisitions. Recently, MasterBeat announced the formation, through its subsidiary SBQ Holdings, LLC, of its automotive division JTEC Automotive Inc.

JTEC Automotive Inc. will focus on the growing demand for professionally built Custom Collectible Classic Automobiles targeting segments like Muscle Cars, Restomods, and Japanese Imports. These segments are the trends that are happening now, which have long been predicted by auction house legends such as Barrett-Jackson (www.barrett-jackson.com) and Mecum Auctions (www.mecum.com).

“These are exciting times for our company,” Tannariello told Smith. “We have been aggressive in 2020 while many other companies have stayed on the sidelines due to the pandemic. We have acquired properties and created divisions like JTEC Automotive Inc. We have grown is several areas and extended our partnership agreement with Boosted Autos LLC for the restoration and customization of four great projects already in the hands of Boosted Autos with some being 50% or more completed.”

Q BioMed (OTCQB: QBIO) (“the Company”) CEO Denis Corin called in to SmallCapVoice.com to discuss the recent news and events for the Company.

Q BioMed (OTCQB: QBIO) (“the Company”) CEO Denis Corin called in to SmallCapVoice.com to discuss the recent news and events for the Company. QBIO issued a key development regarding new distribution agreement for QBIO’s non-opioid metastatic cancer bone pain drug, Strontium89 and what it means for this company. In the interview Corin highlighted the enormous potential market size internationally and where QBIO will focus on first geographically.

In the Strontium89 pivotal trial, as many as 79% of patients had pain relief with Strontium89, and twice as many patients treated with Strontium89 had no pain for 3 months compared with placebo. Further, new pain sites were less frequent in patients treated with Strontium89[1],[2]. Strontium89 is administered once every 3 months via injection, and patients can be re-treated if needed. With an estimated 10 million people living with bone metastases, Q BioMed anticipates broad market re-acceptance for this well-established, non-opioid option for bone pain management.

Q BioMed Inc is a biotech acceleration and commercial stage company. Q BioMed is focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital needed to ensure they meet their developmental potential, enabling them to provide products to patients in need‏.

Please visit http://www.QBioMed.com and sign up for regular updates.

This interview may include forward looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. SmallCapVoice.com, Inc. received $1,500.00 from the company on 7-8-2020 for 30 days of Audio Interview service and Social Media Coverage.

The interview features an in-depth look at RXMD’s financing with Chicago Ventures.

The interview features an in-depth look at RXMD’s S-1 Filing process and update. In addition, CEO Shital Mars goes into the Company’s work with doctors and patients for testing in the COVID-19 era, and what is next in 2020 for Progressive Care, Inc.

Progressive Care Inc. (RXMD), through its subsidiaries, is a Florida technology and health services organization that provides prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long-term care facilities, and health practice risk management.

Revenue increased 111% over first quarter 2019

IRVINE, CA / ACCESSWIRE / June 18, 2020 / Terra Tech Corp. (TRTC) ("Terra Tech" or the "Company") today announced its financial results for the quarter ended March 31, 2020.

Matthew Morgan, Chief Executive Officer of Terra Tech, commented, "Our first quarter results demonstrate continued improvement in our cannabis operations, driven by both medical and adult-use sales from our San Leandro Blüm dispensary as well as wholesale revenues. Following the COVID-19 pandemic, which has resulted in many retailers delaying purchase decisions and reversing plans to launch new CBD products in stores, it has become clear to us that we must focus on our THC business in California to maximize near-term revenues. We have therefore chosen to postpone our expansion strategy in the CBD market through our OneQor business. For us to advance our strategy, we are now completing a number of asset sales in order to strengthen the Company's cash position and redirect resources to assets that generate the highest returns. We expect to have approximately $24 million coming in from asset sales over the next 12 months from our Blüm dispensaries in Nevada and Santa Ana, California, as well as various sales of non-core licenses and properties. This is expected to set the Company on a path to sustainability that will allow us to be lean and cost-effective. We intend to complete the build out of our Hegenberger cultivation facility in California and leverage our existing capital base to ramp revenues from wholesale THC products as well as sales at our Blüm dispensaries in San Leandro and Oakland."

Financial Update

For the quarter ended March 31, 2020, the Company generated revenues from continuing operations of approximately $4.31 million, compared to approximately $2.05 million for the quarter ended March 31, 2019, an increase of approximately $2.26 million. The increase was primarily due to more mature Cannabis segment operations in 2020 operating more efficiently and productively compared to 2019, when these operations were just ramping up.

Terra Tech's gross profit from continuing operations for the quarter ended March 31, 2020 was approximately $2.34 million, compared to a gross profit of approximately $1.60 million for the quarter ended March 31, 2019, an increase of approximately $0.74 million. Gross margin for the quarter ended March 31, 2020 was approximately 54.2%, compared to approximately 78.2% for the quarter ended March 31, 2019.

Selling, general and administrative expenses from continuing operations for the three months ended March 31, 2020 were approximately $9.04 million, compared to approximately $8.59 million for the three months ended March 31, 2019, an increase of approximately $0.45 million.

The net loss attributable to Terra Tech for the three months ending March 31, 2020 was $17.33 million, or $0.11 per basic and diluted share, compared to $11.74 million, or $0.13 per basic and diluted share, for the three months ending March 31, 2019.

The Company had $0.95 million in cash as of March 31, 2020, compared with $1.23 million as of December 31, 2019.

Stockholders' equity for the period ending March 31, 2020 amounted to approximately $70.13 million compared to approximately $75.33 million as of December 31, 2019.

Conference Call

The company will host a conference call on Thursday, June 18, 2020 at 4:30pm ET to discuss the financial and operational results.

Dial-In Number: 1-857-232-0157

Access Code: 422095

Matthew Morgan, CEO of Terra Tech Corp., will be answering shareholder questions at the end of the call. Should you have questions during or prior to the conference call please send an email to [email protected] with TRTC Question in the subject line. Mr. Morgan will answer as many questions as time will allow.

For those unable to participate in the live conference call, a replay will be available at https://www.smallcapvoice.com/trtc/. An archived version of the webcast will also be available on the investor relations section of the company's website.

To be added to the Terra Tech email distribution list, please email [email protected] with TRTC in the subject line.

About Terra Tech

Terra Tech, which recently merged with OneQor Technologies, is a holding company with a portfolio of investments focused on cannabis agricultural assets in the THC market and the research, development and commercialization of cannabinoid-based products. Backed by innovative science and best-in-class manufacturing, the company's mission is to deliver top-tier cannabis and cannabinoid-based products across the wide range of emerging consumer markets for plant-based health products, including CBD, pharmaceuticals and consumer brands.

Cautionary Language Concerning Forward-Looking Statements

Certain statements contained in this communication regarding matters that are not historical facts, are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, known as the PSLRA. These include statements regarding management's intentions, plans, beliefs, expectations or forecasts for the future, and, therefore, you are cautioned not to place undue reliance on them. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Terra Tech undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by law. We use words such as "anticipates," "believes," "plans," "expects," "projects," "future," "intends," "may," "will," "should," "could," "estimates," "predicts," "potential," "continue," "guidance," and similar expressions to identify these forward-looking statements that are intended to be covered by the safe-harbor provisions of the PSLRA. Such forward-looking statements are based on our expectations and involve risks and uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements due to a number of factors.

 

New factors emerge from time to time and it is not possible for us to predict all such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. These risks, as well as other risks associated with the combination, will be more fully discussed in our reports with the SEC. Additional risks and uncertainties are identified and discussed in the "Risk Factors" section of Terra Tech's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the SEC. Forward-looking statements included in this release are based on information available to Terra Tech as of the date of this release. Terra Tech undertakes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this release.

TERRA TECH CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

(in thousands, except for shares and per-share information)

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2020

 

 

2019

 

 

 

 

 

 

 

 

Total revenues

 

$

4,313

 

 

$

2,045

 

Cost of goods sold

 

 

1,975

 

 

 

445

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

2,338

 

 

 

1,600

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

9,037

 

 

 

8,591

 

Impairment of assets

 

 

5,120

 

 

 

-

 

(Gain) / Loss on sale of assets

 

 

(35

)

 

 

-

 

Loss on interest in joint venture

 

 

-

 

 

 

1,067

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(11,784

)

 

 

(8,058

)

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(902

)

 

 

(2,928

)

Other income/loss

 

 

65

 

 

 

11

 

 

 

 

 

 

 

 

 

 

Total other income (expense)

 

 

(837

)

 

 

(2,917

)

 

 

 

 

 

 

 

 

 

Income (Loss) from continuing operations

 

 

(12,621

)

 

 

(10,975

)

Income (Loss) from discontinued operations, net of tax

 

 

(4,752

)

 

 

(484

)

 

 

 

 

 

 

 

 

 

NET INCOME (LOSS)

 

 

(17,373

)

 

 

(11,459

)

 

 

 

 

 

 

 

 

 

Less: Income (Loss) attributable to non-controlling interest from continuing operations

 

 

(44

)

 

 

77

 

Less: Income (Loss) attributable to non-controlling interest from discontinued operations

 

 

-

 

 

 

200

 

 

 

 

 

 

 

 

 

 

NET LOSS ATTRIBUTABLE TO TERRA TECH CORP.

 

$

(17,329

)

 

$

(11,736

)

 

 

 

 

 

 

 

 

 

Income / ( Loss) from continuing operations per common share attributable to Terra Tech Corp. common stockholders - basic and diluted

 

$

(0.08

)

 

$

(0.12

)

Net Loss per common share attributable to Terra Tech Corp. common stockholders - basic and diluted

 

$

(0.11

)

 

$

(0.13

)

 

 

 

 

 

 

 

 

 

Weighted-average number of common shares outstanding - basic and diluted

 

 

150,906,135

 

 

 

93,710,004

 

TERRA TECH CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except Shares)

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

(Unaudited)

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

Cash

 

$

946

 

 

$

1,226

 

Accounts receivable, net

 

 

1,561

 

 

 

693

 

Inventory

 

 

5,012

 

 

 

4,334

 

...