Pumpers Can’t Get Enough of Terra Tech Corp. (OTCBB:TRTC)
Sometimes when pumpers develop a liking for a certain ticker symbol, they latch themselves to it and seem to never let go. Terra Tech Corp. (OTCBB:TRTC) seems to be one such pumper magnet. The company was targeted by another volley of pump emails yesterday.
The promotional history of TRCT is a long and jaded one, but it seems pumpers don’t mind treading in place, judging by the unceasing stream of pumps targeting the company. The first promotional materials for Terra Tech came as early as the summer of 2012 and were what kickstarted the company into active trading. Ever since then it’s been a long and tiresome string of stock promotions that kept setting unreasonable price targets for the stock and conjure images of grandeur, fueled by tens of millions of revenue. A colleague has taken a very detailed look at the separate rounds of pumping that took place for TRTC, as well as the false promises of the tout emails.
The situation over at TRTC is actually a little different. Well, a lot different, really. Even though promoters expected the company’s revenues for last year to reach $3 million, then increase tenfold in a matter of years, driven by a booming hydroponics industry, in reality TRTC clocked yearly revenue that was six times less that that prediction and once costs and expenses had been factored in, this left them a yearly net loss of $5 million.
Those hoping that things have undergone a considerable improvement may be left wanting. Here is how TRTC looked as of the date of its latest quarterly report for the period ended March 2013:
- $436 thousand in cash
- $2.3 million in current liabilities
- $66 thousand in quarterly revenue
- $1.5 million in quarterly net loss
The momentous drop of revenue on a year-over-year basis, from $211 thousand to $66 thousand, is explained with the company ‘reallocating’ its resources. A lot of cash also got ‘reallocated’ from one place to another as the previous pumps of TRTC crashed, so traders may want to watch out this time around.
Wall Street Scoop, one of the promoters who touted TRTC yesterday, offered a lot of poor picks in the past. One of the most recent examples is YaFarm, Inc. (OTCMKTS:YFRM). A pump emailed before the open on May 30 helped believers lose roughly 40% of their investment in YFRM, as the stock came thundering downhill in four consecutive red sessions.
