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Monday, January 18, 2021

Greengro Technologies Inc (OTCMKTS:GRNH) Provides an Interesting Case Study

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Greengro Technologies Inc (OTCMKTS:GRNH) is a penny play in the cannabis patch that provides quite an interesting case study. It is our position that the transition from a black market to a legitimate market for cannabis cultivation is the defining process for the space right now. And equipment suppliers providing tools, methods, and support services for new cultivators may just be the sweet spot for the space right now. GRNH is dead center of that thesis. Hence, the company is of interest.

As far as recent catalysts, GRNH just announced that is has signed a definitive agreement on a ten-acre, $25 million Greengro hydroponic indoor farm project with Global Renewable Resources, LLC, Shaker Heights, Ohio, a new startup specializing in sustainable technologies and renewable energy. The agreement calls for GRR to purchase a Glass Greenhouse Franchise marketed by Greengro subsidiary BP Gardens, Inc. While this is not a part of the driving value thesis for GRNH right now, it does argue for their diversification.

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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As noted above, the company recently signed a definitive agreement on a ten-acre, $25 million Greengro hydroponic indoor farm project with an Ohio-based startup. The money is hardly in the bank, and we don’t see any filings of an official nature, but it does point to a new revenue stream possibility.

The project will utilize advanced technology and production methods from Greengro’s newly acquired subsidiary Biodynamics, a premier indoor controlled environment agriculture (CEA) industry leader. Biodynamics provides Greengro customers with turnkey, fully automated, off-grid, state-of-the-art, high-tech hydroponic “smart” indoor vertical farms using positive pressure HVAC and photovoltaic (PV) solar glass.

To get excited about this, we would need to see more details. However, in the big picture, we would honestly rather see more progress in the primary thesis: more proof of leadership in equipping new cannabis cultivators. The market seems to agree, as the stock has actually declined a bit off the news.

All in all, we’ve witnessed about -7% sheered from share values of the listing over the past week of action. In addition, the listing has seen from a jump in recent trading volume to the tune of 28% over what the stock has registered over the longer term. Since we last covered the name, the stock has moved about a percent to the upside.

Currently trading at a market capitalization of $29M, Greengro has about $58k cash on the books, which stands against about $400K in 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%. You can bet we will update this one again as new information comes into view. 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!

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