Greengro Technologies Inc (OTCMKTS:GRNH) is a micro-cap name that works as a supplier to cultivators in the cannabis patch. GRNH stock has been relatively range bound of late, but not for lack of catalysts from the company. In its latest move, management recently announced that “as the demand for industrial cutting-edge growing solutions continues to strengthen”, Greengro is putting out a photovoltaic solar glass greenhouse ostensibly tailored to the needs of industrial cannabis cultivation and harvesting operations.
According to the company’s latest release, the product is designed to furnish high-capacity growers with “top-of-the-line, fully-automated hydroponic technology for commercial-level cannabis production”. In addition, the greenhouse is specifically designed to optimize the economics of space for growers producing within the 22,000-sq.-ft. parameter, while also providing “precision temperature, humidity and light control to ensure the production of the highest quality food grade product.”
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.”
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Recent action has seen 3% tacked on to share pricing for the stock in the past month. Market participants may want to pay attention to this stock. GRNH has evidenced sudden upward volatility on many prior occasions. Moreover, the company has benefitted from a jump in recent trading volume to the tune of 7% above the average volume levels in play in this stock over the longer term.
“This Vertical Hydrogarden Glass Greenhouse is expected to become one of our most highly regarded structures,” stated James Haas, CEO of Greengro Technologies, Inc. “The multi-level vertical hydroponics system allows growers to produce three times as much product as does a single level operation using the same area within the structure. By maximizing the practical use of space, the highest amount of profitability becomes an achievable goal. We intend to always be on the forefront providing environmentally friendly and efficient solutions for growing cannabis in this ever-evolving industry.”
The latest release goes on to note that California Assembly Bill 243 is focused on the effects of cultivating cannabis. AB 243 provides $10 million to fund the Bureau of Medical Marijuana Regulation (BMMR). Of the three primary licensing categories, Greengro’s 22,000 sq. ft. fully automated turnkey PV solar glass greenhouse is designed to serve Type 3A and Type 3B licensees, facilitating indoor cultivation using industry leading mixed sunlight and artificial lighting technology for cultivation. Combinations of natural and supplemental artificial lighting help maximize energy efficiency and yield.
Earning a current market cap value of $27.8M, GRNH has virtually no cash on the books, which stands against virtually no total current liabilities. GRNH is pulling in trailing 12-month revenues of $887K. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 234.2%. We will update the story again soon as developments 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!