Surna Inc (OTCMKTS:SRNA) showing dropped of -2.60% and closed at $0.195, after gaining total volume of 751,578.00 shares. Its earnings per share (EPS) is -$0.03 and its beta value stands at -1.36 points and has total market capitalization of $35.85 million and a total of 184.03 million outstanding shares.
Surna Inc (SRNA) on March 31, 2017 reported its financial results for the three and twelve months ended December 31, 2016.
“In 2016, we began executing growth, cost reduction and capital market initiatives that have strengthened our operations and financial position,” stated Surna’s President and Chief Executive Officer Trent Doucet. “As a result, fourth quarter revenue grew 20% year-over-year and 72% compared to the third quarter. Full year improvements include gross margin reaching 30% and a reduction in our operating loss of 83% compared to 2015. Additionally, our recent debt conversion and equity financing fortified our balance sheet by more than $5.5 million, enabling us to pursue our sales team expansion more aggressively.
“Both the medicinal and recreational segments of the cannabis cultivation market are growing rapidly in the US and internationally. We also have been building our presence and recently signed our sixth deal in Canada. In 2017, we anticipate rolling out our next generation equipment as well as beta test of our control and automation platform.
“Overall, 2016 was a pivotal year for our market and for Surna specifically. We believe the positive trends are continuing in 2017, and we are very excited about our prospects,” concluded Doucet.
- Converted $3.2 million in principal and interest, or 100% of the obligations related to the 10% convertible promissory notes, in a series of transactions beginning in the fourth quarter of 2016 through March 2017.
- Raised $2.7 million in the sale of equity in a series of closings in March 2017.
- Obtained a 6% short-term loan of approximately $500,000 in February 2017.
- Exhibited at several important cannabis trade shows including Marijuana Business Conference & Expo in Las Vegas in November and CannaCon in Seattle in February.
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -6.25% and closed at $1.50, with the total traded volume of 12,266.00 shares. During last trade its minimum price was $1.38 and it gained its highest price of $1.61 and has a total of 40.91 million outstanding shares.
On March 9, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp) and cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, is pleased to announce it has formulated a new Cannabis CBD-based pre-workout sports supplement with Forzagen. Additionally, the company’s joint venture with Karmavore Superfoods is off to a good start, and their chocolates (infused with ETST CBD) are selling well.
The company recently announced a joint venture with Nutrition Specialties and Forzagen, (Earth Science Tech, Enters Multi-Billion Dollar Sports Supplement Industry via Joint Venture with Nutrition Specialties and Forzagen) where Earth Science Tech and Forzagen will formulate new CBD-based sports products. Earth Science Tech will help develop the market in the United States while Forzagen will develop the market in Mexico and other international accounts. Earth Science Tech, together with Forzagen, have formulated a full-spectrum CBD-based pre-workout supplement called Black Demon 2.0. The supplement was formulated for serious athletes, and is incredibly potent. Forzagen and Earth Science Tech will be splitting both the costs and revenues of Black Demon 2.0, and it is currently in the label design phase. It is expected to be bottled and start selling within Q2 or Q3 of 2017
“We have seen great success with our non-CBD products in the past, but we are expecting even greater success with Black Demon 2.0,” said Forzagen owner, Jose Bucay, “We’ve already have competitive athletes testing the supplement, and have nothing but positive feedback in regards to Black Demon 2.0. We think we’ve got a true hit in the making.”
Cannasys Inc (OTCMKTS:MJTK) decreased -7.59% closed at $0.00730 and traded with total volume of 19.72M shares, while the average trading remained 22.05M shares. During last trade its minimum price was $0.01 and it gained the highest price of $0.01. Its market capitalization was $5.76 million.
CannaSys, Inc. provides technology services for the cannabis industry. The company offers BumpUp Rewards, a membership rewards loyalty program designed for social media ties and an electronic solution for providing gifts, points, and discounts to friends and family; and CannaLIMS, a laboratory management information system product focuses on the cannabis marketplace. It has strategic relationship with MHB, Inc., which provides a lifestyle branding agency services. The company’s products serve medical and recreational growers, dispensers, and customers. CannaSys, Inc. was founded in 2013 and is headquartered in Denver, Colorado.