Greengro Technologies Inc. (OTCMKTS:GRNH) Crashes And Burns
Greengro Technologies Inc. (OTCMKTS:GRNH) got only a brief respite on Friday, before promptly resuming its fall on Monday and starting the week as low as $0.072 – but will its boastful PR help it to fare any better in today’s session?
It is funny, how GRNH advertises itself as “a world class provider of ecofriendly green technologies”, while its reports look like this:
- Cash – $39 thousand
- Total Current Assets – $747 thousand
- Total Current Liabilities – $260 thousand
- Annual Revenues – $569 thousand
- Annual Net Loss – $3.5 million
Of course, “world class” means different things to different people – and, apparently, to GRNH it means “nearly broke underachiever that’s racking losses at a frightening rate and keeps drowning investor value in dilution”. But enough about that – let us focus on the rest of the announcement that hit the web just minutes ago.
It appears that GRNH has acquired a “revolutionary way to monitor crop health” via a “five megapixel NDVI camera and temp/humidity sensor”. Wait… Don’t we have that technology already?
The company also boasted that it “has also acquired technology to integrate temperature, humidity, CO2, pH, TDS, DO, and light sensors” – none of which is actually new technology. Bundling all of those gizmos and making the whole thing “self-contained, WiFi enabled” is not an impressive achievement. That’s not what makes a company “world class”.
In short, what we’re seeing here is just another piece of fluff PR. Will it be able to distract investors from the fact that GRNH is a dubious OTC Markets underachiever? Only time will tell.
