Smallcapvoice.com, Inc.

Terra Tech Corp. Reports Financial Results for Third Quarter 2020

Informações:

Sinopsis

IRVINE, CA / ACCESSWIRE / November 6, 2020 / Terra Tech Corp. (OTCQX:TRTC) ("Terra Tech" or the "Company") today announced its financial results for the quarter ended September 30, 2020. Mike Nahass, Chief Executive Officer of Terra Tech, commented, "Our third quarter results were impacted by the closure of our San Leandro dispensary, which was shut for the first half of July and the Oakland dispensary which was shut for the entire third quarter, following damage due to civil unrest that began in late May. Our cultivation facilities continued to sell wholesale cannabis products throughout the quarter, however the shift in revenue mix toward wholesale products continues to reduce our operating margin. Closing out this year and leading into 2021, our business will continue to focus on building out the key elements of our THC business in the California market. Terra Tech is maximizing near-term revenue streams and prioritizing the construction of our Hegenberger cultivation facility which is expected to reach co