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 TRTC@kcsa.

SmallCapVoice.com, Inc. (SCV) and Fuse Cobalt Inc. (“the Company“ or “Fuse”) (TSXV: FUSE, OTCQB: FUSEF, FRA:43W2), announced a new audio interview.

Robert Setter, Fuse President & CEO, called in to SmallCapvoice.com to go over the business model and markets that his Company operates in. Fuse Cobalt Inc. is a well-funded Canadian company whose focused is directed towards exploration of high value metals related to the cobalt battery industry. The Company has two 100% wholly owned properties, Glencore Bucke (subject to a back-in provision, production royalty and off-take agreement) and Teledyne (subject to a 2% NSR) Cobalt Properties, located in Cobalt, Ontario.

The Company will continue to focus on cobalt project development with the intent of developing these projects into operations focused on mining cobalt for use in a variety of end use applications including EV batteries.

Recently, it was announced that Tesla (TSLA) contracted with Glencore to buy cobalt, the key raw material used to make its electric car batteries. This is a strategic move towards increased vertical integration by Tesla and a potential indicator that the cobalt market is heating up.

In the interview Setter stated, “These are exciting times for our company. We are well-positioned to take advantage of the massive growth that we see coming in the battery market for electric vehicles. Cobalt is a key component being used in the majority of the batteries for electric vehicles. In addition, cobalt is considered a strategic metal with the Canadian and the US governments agreeing to work together to secure private sources of cobalt and other strategic metals in North America. We are thankful for the opportunity to share our story with our shareholders and the SmallCapVoice.com listening audience.

Dennis P. Calvert, President, CEO and Chairman, of BioLargo, Inc. (OTC.QB: BLGO) called in to SmallCapVoice.com to go over the business model and markets for BLGO.

Dennis P. Calvert, President, CEO and Chairman, of BioLargo, Inc. (OTC.QB: BLGO) called in to SmallCapVoice.com to go over the business model and markets for his Company. In the interview, Calvert explains exactly how BLGO strives to make life better for all of us, what are the milestones his Company has achieved so far in 2020, the goals for the remainder of 2020 and much more.

BioLargo, Inc. is an innovator of technology-based products and environmental engineering solutions provider driven by a mission to “make life better”. We feature unique disruptive solutions to deliver clean air, clean water and a clean, safe environment (www.biolargo.com). Our engineering division features experienced professional engineers dedicated to integrity, reliability, and environmental stewardship (www.biolargoengineering.com). Our industrial odor control division, Odor-No-More (www.odornomore.com) features CupriDyne Clean Industrial Odor Eliminator (www.cupridyne.com), which eliminates the odor-causing compounds and VOCs rather than masking them, and is now winning over leading companies in the solid waste handling and wastewater industries and other industries that contend with malodors and VOCs. Our subsidiary BioLargo Water (www.biolargowater.ca) develops the Advanced Oxidation System “AOS,” a disruptive industrial water treatment technology designed to eliminate waterborne pathogens and recalcitrant contaminants with better energy-efficiency and lower operational costs than incumbent technologies. We are a minority stockholder of and licensor to our subsidiary Clyra Medical (www.clyramedical.com), which features effective and gentle solutions for chronic infected wounds to promote infection control and regenerative tissue therapy.

Nightfood, Inc. (OTC.QB NGTF), the better-for-you snack company targeting the $50 billion consumers spend on nighttime snacks, conducted its June 2020 quarterly call.

Nightfood, Inc. (OTC.QB NGTF), the better-for-you snack company targeting the $50 billion consumers spend on nighttime snacks, conducted its June 3rd 2020 quarterly investor call. In addition to answering questions, CEO Sean Folkson will also announce the name of Nightfood’s next supermarket chain which will begin stocking the ice cream in early June.

Nightfood Holdings, Inc. (NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.

Nightfood has expanded distribution for its ice cream into major divisions of the two largest supermarket chains in the United States: Kroger (Harris Teeter), and Albertsons Companies (Jewel-Osco and Shaw’s and Star Markets), as well as Lowe’s Foods and other independent retailers.

Nightfood won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. Nightfood was also named Best New Ice Cream in the 2019 World Dairy Innovation Awards.

Nightfood has been endorsed as the Official Ice Cream of the American Pregnancy Association and is the recommended ice cream for pregnant women. There are approximately 3,000,000 pregnant women in the United States at any given time, and ice cream is the single most-widely reported pregnancy craving. With more calcium, magnesium, zinc, fiber, and protein, less sugar and a lower glycemic profile than regular ice cream, Nightfood has been identified as a better choice for expectant mothers.

Nightfood is not just for pregnant women. Over 80% of Americans snack regularly at night, resulting in an estimated 700M+ nighttime snack occasions weekly, and an annual spend on night snacks of over $50 billion dollars, the majority of it on options that are understood to be both unhealthy, and disruptive to sleep quality.

Scientific research indicates these unhealthy nighttime cravings are driven by human biology. Willpower is also weakest at night, contributing to unhealthy night snacking behavior, and the majority of night snackers report feeling both guilty and out-of-control when it comes to their nighttime snacking.

Because unhealthy night snacking is believed to be biologically driven, and not a trend or a fad, management believes the category of nighttime-specific nutrition, which Nightfood is pioneering, will be a billion-dollar category.

MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company is seeking licensing opportunities to market such products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.

Wuhan General Group, Inc. (NASDAQ: WUHN) through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company.

Jeff Robinson, CEO of Wuhan General Group, Inc., (the “Company”) called in to SmallCapVoice.com to go over the business model and markets for his exciting young Company. Jeff talked about the the launching of its premium CBD product lines. The launch includes the CBD cosmetics line and the CBD coffee line in pharmacies, convenience stores and hotels across South Africa. The products are branded under the trademarks: DrAnnaRx™ and Medspresso™ respectively. He went on to talk about the Company’s work with its newly established division, M2Bio who is researching and developing indications for psilocybin new therapies that will help patients who suffer from mental illness, Alzheimer’s and Parkinson’s.

Wuhan General Group, Inc. through its wholly-owned subsidiary MJ MedTech is a nutraceutical biotechnology company that researches, develops and commercializes a range of CBD-based products under the Dr. AnnaRx™ and Medspresso™ brands. In addition, its new wholly-owned division, M2Bio is researching and developing indications for psilocybin new therapies that will help patients who suffer from mental illness, Alzheimer’s and Parkinson’s. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research and emerging technologies. Wuhan is listed and traded on the Over the Counter Bulletin Board of NASDAQ under the trading symbol “WUHN”.

Progressive Care 2019 Annual Report Earnings Call and Business Update with Shital Mars, CEO.