GreenGro Technologies, Inc. (OTCMKTS:GRNH) Is Still Red
GreenGro Technologies, Inc. (OTCMKTS:GRNH) managed an impressive climb when the rest of the sector surged on election anticipations, and crashed just as badly as all the other pot-stocks when the Grand Old Party took the reins.
Unlike some other companies, such as Terra Tech Corp. (OTCMKTS:TRTC) and Hemp Inc. (OTCMKTS:HEMP), who took a beating but look like they are on the verge of stabilizing any moment now, GRNH is still tumbling full speed down. Why?
Because GRNH is dubious, even by the standards of the loosely regulated OTC Markets marijuana stock sector. Its latest financial report, covering Q2 2014, gave investors the following numbers:
- cash – $136 thousand
- total current assets – $653 thousand
- total current liabilities – $472 thousand
- revenues – $299 thousand
- net loss – $1.5 million
- 30 million new shares, 10 million of which were priced at just $0.01
As it is, GRNH simply does not have anything going for it. Thus its descent is likely to last until the next marijuana hype rolls along, or the company produces actual tangible positive results for investors to hang on to.
Some of GRNH‘s supporters seem convinced that the latter will happen by the end of the week, when GRNH‘s balance sheets for Q3 2014 are due, but as with all things pot-stock related, a healthy dose of skepticism seems to be in order even in that regard.
