Terra Tech Corp. (OTCMKTS:TRTC) Turns Green

After a short red streak and a flat close on Friday, yesterday Terra Tech Corp. (OTCMKTS:TRTC) managed to close green yesterday. The stock heated up around noon, climbing as high as $0.42 per share. By the closing bell, TRTC was 5% up on 2.2 million shares traded.

There is still no new PR from TRTC connected to the company’s marijuana production, cultivation and dispensary licenses. The last official statement is the one dated November 4, informing that the company received a total of 8 provisional licenses from the state of Nevada.

The situation with state and local county-level licenses seems to be a little more mixed up than it seems. According to coverage by MyNews3, a total of 18 businesses were given state approval for marijuana-related operations in Clark County. Only five of those chose to disclose this publicly. The issue is, of those five, none were given approval by the county. The problem is that according to the report, the state used a different review process that did not take into account the considerations of the locals living in the same area as the would-be MJ business location.

The mismatch between state and county approvals could potentially be an issue according to Clark County’s commission chairman Steve Sisolak and Senator Tick Segerblom, quoted by the media. Sisolak even voiced his concern that the matter might need to be brought to court and a judge might need to decide how the procedure will ‘move forward’.

TRTC never stated that there is a discrepancy between the county and state-level approvals the company received but if the entire process is further delayed by this mismatch in criteria and approvals, this could affect the company’s share price.