Terra Tech Corp (OTCMKTS:TRTCD) has been all over the place and nowhere over the past month, as shares skirt along support at the basically flat 200-day simple moving average. This is somewhat interesting given the company’s recent move to seemingly prepare for some sort of attempt at an uplisting onto a major exchange.

In addition, the company just announced its financial results for the year ended December 31, 2017. Derek Peterson, Chief Executive Officer of Terra Tech, commented on the achievements from the year, “The rapid growth of the legal cannabis market, coupled with our aggressive expansion strategy, has led to Terra Tech’s emergence as a pre-eminent retail and wholesale cannabis company in the United States. Our strategy to establish our Blüm and IVXX brands as premium cannabis experiences in targeted states set the foundation for the Company to quickly expand into the adult use market when Nevada welcomed legalization in July 2017, followed by California in January 2018. These regulatory milestones significantly expanded our addressable market and transformed the Company’s potential growth path.”

Terra Tech Corp (OTCMKTS:TRTCD) has positioned itself in the cannabis space as a company that engages in the design, marketing, and sale of hydroponic equipment with proprietary technology to create sustainable solutions for the cultivation of indoor agriculture in Newport Beach and Irvine, California.

TRTCD operates through two segments, Hydroponic Produce and Cannabis Products. The company offers environmental controllers and timers; ballasts; bulbs; reflectors; nutrients; and portable hydroponic trailers and The Big Bud and Little Bud, which are custom fabricated proprietary cultivation systems for horticulture enthusiasts, local urban farmers, and greenhouse growers

Additionally, TRTCD operates as a retail seller of hydroponic produce, herbs, and floral products, which are distributed in the Midwest and the Northeast United States; and produces and sells a line of cannabis flowers and cigarettes, as well as a line of cannabis pure concentrates, including oils, waxes, shatters, and clears to dispensaries in California.

The company operates through multiple subsidiary businesses, including Blum, IVXX Inc., Edible Gardens, MediFarm LLC and GrowOp Technology.

Blum’s retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum offers a broad selection of medical cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations.

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As noted in the company’s latest release, total revenues for the full year 2017 were $35.80 million, an increase of 41% from $25.33 million in the year ended December 31, 2016. Total revenues generated for the quarter ended December 31, 2017, were approximately $11.01 million, an increase of 54% from $7.13 million in the same period in 2016. While this seems impressive, investors and traders were unmoved, with the stock trading mostly sideways.

“In California, we currently have dispensary operations in Oakland and Santa Ana, and are continuing to build out another dispensary in San Leandro as well as cultivation and extraction facilities in the state. We are encouraged by our progress establishing recognizable brands, a loyal customer base and developing extensive cultivation capabilities, which we expect to allow for the production of up to 20,000 pounds of cannabis per year, when complete. As the U.S.’s largest state by population, California represents a major market for us. A recent report from BDS Analytics estimates California sales of cannabis to hit $3.7 billion by the end of 2018, and to increase to $5.1 billion in 2019. In Nevada, we have four dispensary operations across Reno and Las Vegas, supported by new cannabis cultivation and extraction facilities in Sparks and Reno, through agreements with NuLeaf. Cannabis analytics firm New Frontier projects Nevada’s total cannabis market to be $622 million by 2020 and we are excited by the opportunity to participate in its growth,” continued Mr. Peterson.

Currently trading at a market capitalization of $259.4M, TRTCD has a significant war chest ($5.4M) of cash on the books, which stands against virtually no total current liabilities. TRTCD is pulling in trailing 12-month revenues of $35.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 54.5%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $TRTCD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TRTCD, either long or short, and we have not been compensated for this article.