About Today‘s TRTC Merger Confirmation !!
Post# of 2008
About Today‘s TRTC Merger Confirmation !!
We need to take this today as very positive as it really is !
Today‘s Confirmation by its writing stile is possibly a little unlucky
made for outsiders able to understand what they explain, because
it seems some definitions are missing.
Therefore specially the below part for outsiders is maybe somehow
confusing, but really unnecessary wise, as for example GroRite is also
a full part or member of today‘s Merger Confirmation and therefore
after some complains to them, we can within 24 hours expect to have
this by more simple strait explanations clarified for all the outsider
Investors also able to understand it by all essential details.
„The cost of acquisition was 1,250,000 shares of common stock. One of Terra Tech's directors Amy Almsteier will be surrendering 500,000 shares of common stock back to the company to help offset the acquisition cost. During due diligence Terra Tech discovered some change of ownership covenants that existed within GroRites and NB Plants credit facilities that required the companies to refinance. The cost associated with refinancing proved too significant for the company and shareholders to absorb at the present time. Management made the decision to absorb Edible Garden, the biggest growth company, from the Vande Vrede's while structuring the acquisition to benefit from the current revenue base of both GroRite as well as NB Plants through distribution contracts, which Terra Tech is currently being negotiated.“
This To All TRTC Investors To Be Very Happy !
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