Surna Inc (OTCMTKTS:SRNA) Surges On News

[[tagnumber 0]][[tagnumber 1]]Surna Inc (OTCMKTS:SRNA) had a pretty impressive performance throughout the second half of July and the first half of August, but began to slide after reaching a high of $0.225 per share in the middle of last month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Since then we have seen some efforts for recovery, but they have been rather modest and were followed by downward slides. The market cap of $20 million isn’t that small but [[tagnumber 6]]SRNA[[tagnumber 7]] has made some decent progress which is obvious when you look at the numbers contained in their report for the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $145 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $2.09 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $3.3 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $1.67 million[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $976 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]While the cash reserves are certainly quite small and the current liabilities are significant we have seen an impressive jump in revenues. They have risen nearly two times quarter–over–quarter and are almost five times higher when you look at the same period last year, which means that if [[tagnumber 6]]SRNA[[tagnumber 7]] keeps this tempo we might see the company become profitable somewhere in 2016.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The latest press release suggests exactly that. Yesterday the company announced that NuLeaf, a cannabis cultivator, has agreed to purchase 80% of the company’s first production build of water–cooled Reflector in a deal worth more than half a million dollars.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This led to a 12.82% gain in price and we saw [[tagnumber 6]]SRNA[[tagnumber 7]] close the day at $0.154. The volume was well below the 30 day average and the 682 thousand shares that changed their owners generated only $106 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After the bumpy ride that [[tagnumber 6]]SRNA[[tagnumber 7]] has had recently, however, it is hard to tell which way the ticker might go. Do your own due diligence and weigh out the risks before making any moves.[[tagnumber 2]]