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Wednesday, January 20, 2021

Cannabis Spotlight on Surna Inc (OTCMKTS:SRNA)

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Surna Inc (OTCMKTS:SRNA) is perhaps one of the “cannabis all-stars” right now – the stocks that have seen dramatic inflows and share price appreciation during this recent run in the group. As with each of these stories, the big catalyst is the November 8 voting, which will see just shy of one-third of the US population represented in a referendum on the future legal status of cannabis across nine states.

Shares of SRNA stock have basically tripled since mid-September, with the help of a string of positive catalysts. In recent days, we have seen a pullback associated with a negotiation to convert some notes to shares at a price below current trading. However, the volume associated doesn’t look heavy, and that news has been balanced by an expo/convention appearance. The latter news is normally one of those throw-away headlines for a stock in a market space like this. But with SRNA stock, these are the important headlines to note, as we will discuss below.

Surna Inc (OTCMKTS:SRNA) promulgates itself as a company that designs, develops, manufactures, and distributes systems for controlled environment agriculture (CEA). It offers chillers, lights, reflectors, and irrigation systems; Hybrid Building that uses the sun as its primary light source; air sanitation technology for mold and mildew risk mitigation to cultivators; and mechanical, electrical, and plumbing services.

The company serves cannabis cultivation facilities; and other indoor agricultural facilities, including organic herb and vegetable producers. In short, SRNA develops innovative technologies and products that monitor, control and address the energy and resource intensive nature of indoor cannabis cultivation. Currently, the company’s revenue stream is based on its main product offerings – supplying industrial technology and products to commercial indoor cannabis grow facilities.

Headquartered in Boulder, CO, Surna’s diverse engineering team is tasked with creating novel energy and resource efficient solutions, including the company’s signature water-cooled climate control platform.

Surna’s engineers continuously seek to create technology that solves the highly specific demands of the cannabis industry for temperature, humidity, light and process control. Surna’s goal is to provide intelligent solutions to improve the quality, the control and the overall yield and efficiency of controlled environment agriculture. Though its clients do, the company neither produces nor sells cannabis.

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As noted above, the company is scheduled to exhibit its proprietary Hybrid Building from November 16-18 at the Marijuana Business Conference & Expo at The Rio All Suites Hotel & Casino, Las Vegas.

This company is about systems for managing the cultivation process. It’s an equipper of new cultivators at a time when we are likely to see a massive surge in the number of new cannabis cultivators in a space that is exploding with the potential to arm such new players with cash from operations and/or debt to acquire necessary equipment.

In other words, there is likely about to be a massive jump in the demand for cannabis cultivation equipment. The race to get the most exposure for those selling such equipment is all important. Conferences like this one are the bread and butter of that process.

Surna CEO Trent Doucet said, “We are excited to publicly unveil our scale model of our Hybrid Building – the turnkey solution for climate controlled buildings – at one of the industry’s largest trade shows. We hope you can come by and see the incredible advantages this patent-pending platform can bring to cultivators who are looking to advance their production techniques to generate greater volume and consistency while becoming more energy efficient.”

The recent press release continues to note that “Surna’s revolutionary Hybrid Building design is a turnkey solution for climate-controlled buildings as a mix of an indoor cultivation facility and greenhouse. Surna worked closely with the senior engineering team at the University of Colorado in designing a scale model that demonstrates the unique features of the building, including proprietary ceiling structure, which allows for sunlight to reach a plant canopy, and the sealed environment, which minimizes the negative effects of outside air contamination such as pests and pathogens.”

SRNA stock is currently trading at a market capitalization of $30.8M, SRNA has a decent store ($302.85k) of cash on the books, along with total assets greater than $3.1M, which compares with an appreciable load ($1.98M) of total accumulated debt. The balance sheet is far from perfect.

The bottom line is that SRNA is making real money, with trailing revs already coming in at $9.71M. In addition, that top line is growing at a double-digit pace, which is very likely to accelerate given the company’s growing exposure into next week’s voting. We think this is an exciting story and will update it again very soon. For continuing coverage on shares of SRNA stock, as well as our other hot stock picks, please sign up for our free newsletter today and get our next hot stock pick!

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