Will Terra Tech Corp (OTCMKTS:TRTC) Crash Now That It Has Filed Its 10-Q?
Terra Tech Corp (OTCMKTS:TRTC) had just made a successful effort to recover some ground yesterday, but in light of what it published after the close of the market session it looks unlikely that its upward momentum will hold. Why?
Long story short – the company’s latest 10-Q that just hit the web after hours yesterday drew another bleak and depressing picture.
Although TRTC‘s management team seems to always be able to find new and inventive ways to boast and praise the company’s achievements and skip out on the company’s shortcomings, the numbers in the all of TRTC‘s reports show mostly but mediocrity:
- Cash – $2.1 million
- Total Current Assets – $3.3 million
- Total Current Liabilities – $5.3 million
- Quarterly Revenues – $5 million
- Quarterly Net Loss – $4.8 million
One look reveals the fact that in spite of all its alleged hard work and progress, TRTC is still failing miserably in its attempts to make ends meet.
What’s worse is the fact that $2.2 million of its debt is in the form of convertible notes that can be cashed in at various discounts.
This means that although as of August 7, 2015, there were 252 million shares of TRTC common stock outstanding, that number can grow by more than 120 million shares at a moment’s notice, should the note-holders and the owners of TRTC‘s Series B Preferred shares decide to cash their chips.
In any case – today’s trading session is going to be an intense one for TRTC, as it is most likely that many investors will be disappointed with what they saw in the company’s report.
