Greengro Technologies Inc (OTCMKTS:GRNH) is a stock that’s been reacting to recent positive news of a kind we are likely to see on a grand scale in coming weeks and months. Moreover, in reaction to the recent passage of Proposition 64 in California, the company just announced that its wholly-owned subsidiary, CBD Ventures, will act as a “turnkey cannabis extraction lab”, launching a line of CBD nutraceutical products in early 2017.
The company has already stated that this is just the first in a series of aggressive measures to capitalize on the recent legislative latitude entering on the winds of the vote. In fact, according to recent company materials, these announcements are the first of several strategic advancements the Company has been developing to service the new likely thriving cannabis industry in California.
Greengro Technologies Inc (OTCMKTS:GRNH) promulgates itself as a company that designs, manufactures, and markets green eco-friendly vertical cultivation systems in the United States. It offers flux lighting products, table stands, nutrient mixers, home units, cloning systems, and tea brewers, as well as provides consulting and management services to its clients.
The company also markets lights, fans, hoods, automatic watering systems, and nutrients under the GreenGro brand.
GreenGro Technologies, Inc. offers its products to consumers and industrial cultivators through its Website. It has a strategic alliance with Solaris Power Cells. The company, formerly known as Authoriszor, Inc., was founded in the 1996 and is based in Westminster, California.
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As the reader will no doubt be aware, November 8 voting brought into place a coup of sorts for the marijuana space, as 8 of 9 states with ballot proposals saw passage by voters of greater legal status for marijuana. While that seems like a catalyst for gains from stocks in the space, as we proposed back in September, the play was almost certain to be a buy-the-rumor, sell-the-news trade. Now we enter the next phase, where we separate the real, longer-term winners from the crowd of pretenders.
Positioned with a strong presence in California, GRNH sees this as its time to shine.
“Proposition 64 grants California its rightful place as the cannabis industry’s hub for innovation, research and development,” said Aaron R. Thomas, President of CBD Ventures. “We have been diligently working within the State’s parameters for medical marijuana and this monumental industry advancement allows us to fully exhaust our efforts. We are excited to bring our state-of-the-art nutraceutical product lines to market and utilize the whole plant in uncharted territories.”
In addition to the company’s aggressive positioning in the massive opportunity that is the California marijuana market, the company just announced the sale of a $7.5 million BP Gardens Glass Greenhouse Franchise to FoodRaiser Corporation, Dublin, Ohio, a noted trailblazer in health conscious fundraising.
FoodRaiser provides schools, clubs, teams, bands, nonprofits, churches and numerous other organizations with organic product-based fundraising opportunities. Greengro Technologies and FoodRaiser have entered into an agreement for FoodRaiser to purchase a Glass Greenhouse Franchise marketed by Greengro Technologies’ subsidiary BP Gardens, Inc., a controlled environment agriculture company that specializes in the use of leading-edge technologies and production methods.
The Glass Greenhouse Franchise offering includes a turnkey, two-acre greenhouse facility designed to produce up to nine million heads of lettuce per year.
Market participants may want to pay attention to this stock. GRNH stock past is littered with sudden rips. What’s more, the name has seen interest climb, with an increase in recent trading volume of just shy of 110% beyond what we have been seeing over the larger time frame.
At this time, carrying a capital value in the market of $22.7M, GRNH has an extremely small store of cash on the books, alongside total assets exceeding $2.1M, which stands against an appreciable load ($171.54k) of total accumulated debt. With the stock recently lagging some of the other names in the group, we would be a close tracker of the action here as it may be a setup. We will be quick to follow up with any emerging details. For continuing coverage on shares of $GRNH stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!