Greengro Technologies Inc. (OTCMKTS:GRNH) Keeps On Tumbling
Even though it was optimistic and boastful, Greengro Technologies Inc. (OTCMKTS:GRNH)’s latest press release didn’t so much as slow the ticker’s descent down to the bottom of the charts – and that’s not surprising at all.
After all, upon a careful examination of the PR the “revolutionary” method of monitoring crop health that the company had boasted so hard about turned to be nothing to write home about. Then again, nothing that GRNH has ever done seems particularly noteworthy after some careful scrutiny.
The company’s latest financial report is the living proof of the previous statement:
- Cash – $39 thousand
- Total Current Assets – $747 thousand
- Total Current Liabilities – $260 thousand
- Annual Revenues – $569 thousand
- Annual Net Loss – $3.5 million
Lately, GRNH seems to be advertising itself as “a world class provider of ecofriendly green technologies”. It may be just that, but only if you re-write the definition of the phrase “world class” to include such attributes as “mediocre” and “commercially unsuccessful”.
Interestingly enough, various sources on the web, such as mmjreporter.com, are still quoting the PR and re-distributing the information in it, as if it had any relevance.
Long story short – in light of the company’s current state, GRNH’s continued tumble down the charts seems completely justified. This is why it wouldn’t be surprising to see the ticker slip even further down from its current position in the sessions to come.
