Terra Tech Releases Q3 Financials And Reports Record Revenues, A 635% Increase Versus Comparable Period 2012
Terra Tech reports third quarter 2013 revenue growth.
GlobeNewswire Terra Tech Corp. Nov 19, 2013 2:54 PM
Irvine, Nov. 19, 2013 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC), an urban agricultural company, is pleased to announce the filing of its Third Quarter 2013, financial results for the quarter ending September 30, 2013. The full 10Q filing is available on the SEC's website at http://edgar.sec.gov/.
Total revenues generated from the sales of the Company's products for the quarter ended September 30, 2013 totaled $773,140, an increase of $667,926 from the quarter ended September 30, 2012, which totaled $105,214. The net result for the quarter ended September 30, 2013 was a loss of $14,945 compared to a loss of $257,083 for the quarter ended September 30, 2012. The growth in the second quarter is primarily attributable to the acquisition of Edible Garden, a premier brand of local and sustainably grown hydroponic produce.
"We are excited about the growth we have experienced this year. This has always been a year of foundation building for an impactful 2014 however we are pleased at the financial advancements we have made year to date," explains Derek Peterson, CEO Terra Tech Corp. "We have made solid progress with expanding our brand and are thrilled that our products are now available at BJ's Wholesale. We are maximizing our current space and are working diligently to complete the 5-acre build to accommodate additional retail expansion."
The company anticipates finishing the construction of their new 5-acre build by year-end 2013. The facility will be brought online in stages throughout the 2014-year in an effort to balance operating expenses with production demand. In addition to the expansion and development of the Edible Garden brand of locally grown produce Terra Tech is actively pursuing multiple opportunities in the medical cannabis arena. Their GrowOp Tech subsidiary has formed an advisory team focused on evaluating both the risks and opportunities in the space. They are focusing on cultivation opportunities, hemp production, CBD oil extractions as well as the procurement of state issued permits in existing and developing states. The company will release more specific information as they continue to develop these channels.
Pictures of the new 5-acre facility can be viewed on their Facebook page at https://www.facebook.com/ediblefarms.
For more information about Terra Tech Corp visit:www.terratechcorp.com
Visit us on Facebook @http://www.facebook.com/terratechcorp
Follow us on Twitter @terratechcorp
For more information about Edible Garden visit: http://www.eatherbs.com
Terra Tech reports third quarter 2013 revenue growth.
GlobeNewswire Terra Tech Corp. Nov 19, 2013 2:54 PM
Irvine, Nov. 19, 2013 (GLOBE NEWSWIRE) -- Terra Tech Corp (TRTC), an urban agricultural company, is pleased to announce the filing of its Third Quarter 2013, financial results for the quarter ending September 30, 2013. The full 10Q filing is available on the SEC's website at http://edgar.sec.gov/.
Total revenues generated from the sales of the Company's products for the quarter ended September 30, 2013 totaled $773,140, an increase of $667,926 from the quarter ended September 30, 2012, which totaled $105,214. The net result for the quarter ended September 30, 2013 was a loss of $14,945 compared to a loss of $257,083 for the quarter ended September 30, 2012. The growth in the second quarter is primarily attributable to the acquisition of Edible Garden, a premier brand of local and sustainably grown hydroponic produce.
"We are excited about the growth we have experienced this year. This has always been a year of foundation building for an impactful 2014 however we are pleased at the financial advancements we have made year to date," explains Derek Peterson, CEO Terra Tech Corp. "We have made solid progress with expanding our brand and are thrilled that our products are now available at BJ's Wholesale. We are maximizing our current space and are working diligently to complete the 5-acre build to accommodate additional retail expansion."
The company anticipates finishing the construction of their new 5-acre build by year-end 2013. The facility will be brought online in stages throughout the 2014-year in an effort to balance operating expenses with production demand. In addition to the expansion and development of the Edible Garden brand of locally grown produce Terra Tech is actively pursuing multiple opportunities in the medical cannabis arena. Their GrowOp Tech subsidiary has formed an advisory team focused on evaluating both the risks and opportunities in the space. They are focusing on cultivation opportunities, hemp production, CBD oil extractions as well as the procurement of state issued permits in existing and developing states. The company will release more specific information as they continue to develop these channels.
Pictures of the new 5-acre facility can be viewed on their Facebook page at https://www.facebook.com/ediblefarms.
For more information about Terra Tech Corp visit:www.terratechcorp.com
Visit us on Facebook @http://www.facebook.com/terratechcorp
Follow us on Twitter @terratechcorp
For more information about Edible Garden visit: http://www.eatherbs.com
