Greengro Technologies Inc (OTCMKTS:GRNH) is a penny stock that has started to key some interest off support after a vicious retracement that got started in mid-October on the heels of a massive 250% Fall rally. The stock has sparked some new attention with last week’s announcement that it has purchased a 20 liter supercritical CO2 extraction machine for its all-new turnkey extraction labs. This system utilizes high-flow pumps and large capacity extraction columns to rapidly recover essential oils from various botanical sources.
We’ve witnessed 23% tacked on to share pricing for the name in the past week. This is emblematic of the stock. GRNH is a stock whose past is littered with sudden rips. In addition, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 9% over what the stock has registered over the longer term.
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.
According to company materials, “Greengro Technologies is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies Inc also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.”
Find out when $GRNH stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, the company just announced that it has purchased a CO2 extraction machine for its new turnkey extraction labs.
According to the release, “as testing of this turn-key modular processing laboratory model progresses, this purchase will enable Greengro to fully evaluate the functional compatibility of this quality line of extraction equipment. With the addition of cutting-edge modular laboratory structures, the extraction facility’s design is crowned with a structure as advanced as the laboratory’s instrumentation and processes.”
According to research cited in Cannabis Business Times in May of this year, CO2-extracted (85 percent) CBD oil is selling wholesale for $45,000 per kilogram. Greengro recently announced the Company’s plan to expand its reach into the cannabis marketplace with a strategy to sell cutting-edge laboratories utilizing advanced Supercritical CO 2 Extraction equipment for the manufacturing of Premium Grade CBD products. “This well-equipped laboratory set up is expected to become one of the Company’s favored offerings. We have collaborated for excellence in our design, with every consideration calculated for a highly successful processing environment,” stated James Haas, CEO of Greengro Technologies, Inc.
With new cultivators expected to be a rapidly expanding group as the legal cannabis sales footprint expands, we should see demand here. But Greengro Technologies Inc will need to show it can execute as growth opportunities are presented.
At this time, carrying a capital value in the market of $24M, GRNH has very little cash on the books, alongside total assets approaching $2.1M, which must be weighed relative to an appreciable load ($171.54k) of total accumulated debt.
In other words, the balance sheet situation could be improved. But that’s only going to happen once the company is able graduate out of its pre-revenue stage. While all the pieces here aren’t too clear, the company is certainly pick-and-shoveling in the right market segment. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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!