Terra Tech Corp. (OTCMKTS:TRTC) On A Serious Slide

[[tagnumber 0]][[tagnumber 1]]There was a beam of hope for Terra Tech Corp. (OTCMKTS:TRTC) in the final days of last month, when the company recorded a few sessions with significant gains, but the ticker failed to hold its ground and the chart for October looks rather bloody.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The positive press releases couldn’t stop [[tagnumber 6]]TRTC’s [[tagnumber 7]]descent and the ticker sits 33% lower from the beginning of the month. This is not a surprise considering many of the companies in the medical cannabis industry are experiencing difficulties in keeping their bloated market caps. Good examples of this are Cannabis Science, Inc. (OTCMKTS:CBIS) and Medical Marijuana, Inc. (OTCMKTS:MJNA)[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]TRTC’s [[tagnumber 7]]current market cap is sitting at $71 million, but looking at its financial report and the book value we are not sure if it will stay there long. Here are the numbers of prime interest from the Q2 report.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $2.67 million[[tagnumber 19]] [[tagnumber 18]]current assets: $3.74 million[[tagnumber 19]] [[tagnumber 18]]total assets: $8.87 million[[tagnumber 19]] [[tagnumber 18]]current liabilities: $7.14 million[[tagnumber 19]] [[tagnumber 18]]quarterly revenues: $3.71 million[[tagnumber 19]] [[tagnumber 18]]quarterly net loss: $4.55 million[[tagnumber 19]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And while it appears that the company has a decent amount of cash on hand, there is the matter of the revenues. As we look at the cost of goods sold, we see that it is sitting at $3.81 million, which is $100 thousand more than the revenues itself. It is never a good sign when a company sells its products below the production cost.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Furthermore, the latest press release can’t exactly be called news. It is once again concerning a big thorn in the side of [[tagnumber 6]]TRTC[[tagnumber 7]], Mr. [[tagnumber 6]]Norman Gates[[tagnumber 7]], also known on Twitter as [[tagnumber 6]]@LaughingPaulRyan[[tagnumber 7]]. Mr. Gates was accused of “sabotaging” [[tagnumber 6]]TRTC’s [[tagnumber 7]]Nevada dispensary approval a few months ago.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 48]][[tagnumber 49]][[tagnumber 2]] [[tagnumber 0]]Back then the company pointed fingers at a lot of directions and refused to take the blame for anything which, on its own, sort of speaks about the responsibility that the management is willing to take.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In any case, be sure to do your due diligence and weigh out the risks before making an investment decision.[[tagnumber 2]]