Terra Tech Corp (OTCMKTS:TRTC) Ends the Week in the Green

After getting a little ahead of itself on the charts in late July, Terra Tech Corp (OTCMKTS:TRTC) settled around more sustainable price levels in August. In Friday trading TRTC managed another green push and closed 7% up at $0.14 per share.

The company’s share price seems to have fallen in a sine-like groove and spent most of August fluctuating between twelve and fourteen cents. TRTC is not giving shareholders any particular reason to jump for joy but it’s not dishing out disappointment at the moment either. The company’s latest quarterly report came out on Aug 12 and may have had an impact on the following two sessions but beyond that it was business as usual.

The report was not exactly stellar, with TRTC logging nearly $2.8 million in net loss for Q2, on revenues of just over $5 million. Edible Garden, the current backbone of the company’s revenues, which many shareholders overlook in their excitement about the possibility of TRTC operating its own dispensaries soon, is still doing a good job despite the unavoidable seasonal fluctuations.

The new big thing TRTC seems to be spending the majority of its time and energy at the moment is IVXX – a luxury brand of cannabis products sold through an increasing number of dispensaries in California. Almost all PR coming from TRTC these days has to do with IVXX, usually informing of another bunch of locations that just started carrying the product. Dedication and passion are one thing, performance and delivery, however, are quite another.

In a conference call discussing Q2 results, TRTC CFO Michael James mentioned that the cannabis branch of TRTC‘s business generated a total of $432,000 in revenues for the first two quarters. There is another bit of info from the Q1 report, stating that the $203,000 increase in revenues for Q1 YoY was primarily due to IVXX revenues recorded for the first time. Coupling those two figures, an educated guess would be that IVXX did not really generate a lot more in Q2 revenues, despite the steadily growing number of new dispensaries that sell it and the fact that it was not up for sale through all of Q1.

The most recent filings that cropped up in TRTC‘s feed are a couple of Form 4 submissions by company secretary and treasurer Mrs. Amy Almeister who sold 600,000 common shares on the open market.