Terra Tech Corp (OTCMKTS:TRTC) Drops News in the Small Hours

It was past midnight when Terra Tech Corp (OTCMKTS:TRTC) put up its latest bit of PR. The news will no doubt shake the share price up as the markets open today, as it concerns the company’s medical marijuana business in Nevada.

TRTC announced that the company received permits for another two medical marijuana dispensaries, located in unincorporated Clark County, Nevada. Everyone following TRTC knows full well that the reason the company enjoyed its late 2014 highs was its move to secure marijuana facilities in Nevada. This midnight press release expands on the scope of that effort and is not unlikely that TRTC may make a new push up the charts, even if on a far smaller scale.

While some investors are already getting giddy about a gap up at the opening bell and TRTC is even calling itself the “largest operator” of Nevada, the fact of the matter is, none of the company’s Nevada facilities have opened their doors yet. At the moment, TRTC‘s marijuana business consists of the CO2 extractor lab and the IVXX brand.

The PR mentions that with the two new permits, TRTC is now working towards four dispensary locations, two cultivation locations and two production and extraction locations. Given that all those launch into active operation within the foreseeable future, TRTC will indeed become the largest operator in the state. However, the process is long and arduous and getting overly excited over similar PR about permits in late 2014 saw a lot of people get a nasty burn as the price deflated from the hype-driven highs it charted.

The company’s latest quarterly report that arrived just three weeks ago showed TRTC‘s bottom line for Q2 to be net loss of $2.7 million on revenues of $5 million.