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Terra Tech Corp. (OTCQX:TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced its second quarter financial results for the period ended June 30, 2018.

“During the second quarter of fiscal 2018 we focused on both growing topline revenues, which reached $8.7 million for the quarter, and investing in building out infrastructure to support our longer term growth strategy,” commented Derek Peterson, Chief Executive Officer of Terra Tech. “In Nevada, we maintain a significant, focused presence which covers both retail and cultivation. On the retail side, our dispensaries reported higher revenues as the adult use market continued to gain momentum. Subsequent to the quarter end, we also commenced cultivation activities at our Sparks, Nevada facility, of which we own 50% in conjunction with NuLeaf, to scale the supply of our wholesale IVXX(R) premium products.

“In California, we made strides expanding our presence in Santa Ana by securing retail permits for new dispensaries on East Dyer Road and Carnegie Avenue. With plans to apply for cultivation, distribution, and manufacturing permits, we believe these locations have the potential to be significant revenue generators for us. We are also in the process of relocating our Oakland extraction facility to the new facility in San Leandro. While this has impacted IVXX sales in the short term, we are confident this will allow us to increase our production and achieve greater distribution throughout California upon completion of the facility build out, which is expected to occur by the end of the year. By investing in infrastructure, we aim to establish a strong platform to ensure growth in shareholder value,” concluded Mr. Peterson.

Financial Update

— Total revenues generated for the quarter ended June 30, 2018 were approximately $8.7 million, an increase of 11% from $7.8 million in the same period in 2017. This growth was due to revenue generated by the Company’s dispensaries in Nevada, and sales from its Blum, Santa Ana dispensary in California, which was acquired in September 2017.

— Gross margin for the quarter ended June 30, 2018 amounted to approximately 25.3%, compared to approximately 19.2% for the quarter ended June 30, 2017, primarily attributable to the cannabis segment, where the Company generated higher revenues to cover its fixed overhead costs.

— Selling, general and administrative expenses for the quarter ended June 30, 2018 amounted to approximately $8.0 million, compared to approximately $6.0 million for the quarter ended June 30, 2017.

— The net loss attributable to Terra Tech for the quarter ended June 30, 2018 was approximately $(11.4 million) or ($0.17) per share compared to a loss of approximately $(0.5 million) or ($0.01) per share for the quarter ended June 30, 2017.

— The Company had $5.2 million in cash as of June 30, 2018, compared with $5.4 million as of December 31, 2017.

— Stockholders’ equity for the quarter ended June 30, 2018 amounted to approximately $91.0 million, an increase of approximately $14.2 million compared to approximately $76.8 million as of December 31, 2017.

— The Company had no short-term debt as of June 30, 2018. Long term debt was $12.8 million as of June 30, 2018, compared with $6.6 million as of December 31, 2017.

Business Update


— San Leandro: The Company continued construction of a Blum dispensary and extraction facility, both of which are expected to open in the second half of 2018.

— Santa Ana: In July, the Company received regulatory approval from the City of Santa Ana to acquire the cannabis retail permit associated with the dispensary for no additional consideration. Additionally, the Company was granted two permits by the City of Santa Ana to operate retail dispensaries on East Dyer Road and Carnegie Avenue in Santa Ana, California. Terra Tech plans to apply for cultivation, manufacturing and distribution permits at both locations.

Also in July, the Company secured a 25% ownership in The Healing Tree Collective, Inc., a California based permitted dispensary.


— The Company’s four Blum dispensaries in Nevada continued to ramp sales to the adult-use market.

Conference Call

The company will also host a conference call today, Thursday, August 9, 2018 at 4:30 PM Eastern Time.

Dial-In Number: 1-857-232-0157

Access Code: 422095

Derek Peterson, Chairman and CEO of Terra Tech Corp., will be answering shareholder questions at the end of the call. Should you have questions during or prior to the conference call please send an email to with ‘TRTC Question’ in the subject line. Mr. Peterson will answer as many questions as time will allow.

For those unable to participate in the live conference call, a replay will be available at An archived version of the webcast will also be available on the investor relations section of the company’s website.

To be added to the Terra Tech email distribution list, please email with TRTC in the subject line.

About Terra Tech

Terra Tech Corp. (OTCQX:TRTC) operates through multiple subsidiary businesses including: Blum, IVXX Inc., Edible Garden, and MediFarm LLC. Blum’s retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada and California. Blum offers a broad selection of cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces cannabis-extracted products for regulated medical cannabis dispensaries throughout California and medical and adult-use dispensaries in Nevada. The Company’s wholly-owned subsidiary, Edible Garden, cultivates a premier brand of local and sustainably grown hydroponic produce, sold through major grocery stores such as ShopRite, Walmart, Ahold, Aldi, Meijer, Kroger, Stop & Shop and others nationwide. Terra Tech’s MediFarm LLC subsidiaries are focused on medical and adult-use cannabis cultivation and permitting businesses throughout Nevada.

For more information about Terra Tech Corp visit:

For more information about IVXX visit:

For more information about Blum Nevada visit:

For more information about Blum Oakland visit:

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Follow us on Twitter @terratechcorp

For more information about Edible Garden visit:

Visit Edible Garden on Facebook @

Visit IVXX on Facebook @

Cautionary Language Concerning Forward-Looking Statements

Statements in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Terra Tech Corp.’s filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to Terra Tech Corp.’s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified sales representatives, (iv) competition, pricing and development difficulties, (v) ability to integrate GrowOp Technology Ltd. into its operations as a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Terra Tech Corp.’s website does not constitute a part of this release.


Philip Carlson

KCSA Strategic Communications


TERRA TECH CORP. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)                                                            Three Months Ended                    Six Months Ended                                                            June 30,                              June 30,                                                            2018                2017              2018                2017Total Revenues                                              $  8,718,177        $  7,842,873      $  17,333,543       $  14,667,329Cost of Goods Sold                                             6,509,754           6,336,500         13,477,680          12,801,893Gross Profit                                                   2,208,423           1,506,373         3,855,863           1,865,436Selling, General and Administrative Expenses                   8,002,370           6,029,287         16,424,918          12,415,587Loss from Operations                                           (5,793,947  )       (4,522,914 )      (12,569,055 )       (10,550,151 )Other Income (Expense):Amortization of Debt Discount                                  (417,363    )       (515,654   )      (885,680    )       (1,126,270  )Loss on Extinguishment of Debt                                 (3,127,477  )       (1,639,137 )      (7,858,723  )       (2,678,595  )Gain (Loss) on Fair Market Valuation of Derivatives            (1,653,000  )       987,200           628,000             2,597,950Interest Expense, Net                                          (331,379    )       (130,510   )      (591,000    )       (288,343    )Loss on Fair Market Valuation of Contingent Consideration      -                   (77,286    )      -                   (4,426,047  )Gain on Settlement of Contingent Consideration                 -                   4,991,571         -                   4,991,571Total Other Income (Expense)                                   (5,529,219  )       3,616,184         (8,707,403  )       (929,734    )Net Loss                                                       (11,323,166 )       (906,730   )      (21,276,458 )       (11,479,885 )Net Income (Loss) Attributable to Non-Controlling Interest     104,837             (452,961   )      183,465             (914,128    )NET LOSS ATTRIBUTABLE TO TERRA TECH CORP.                   $  (11,428,003 )    $  (453,769   )   $  (21,459,923 )    $  (10,565,757 )Net Loss Per Common Share Attributable to Terra             $  (0.17       )    $  (0.01      )   $  (0.32       )    $  (0.28       )Tech Corp. Common Stockholders - Basic andDilutedWeighted-Average Number of Common Shares                       68,734,997          38,873,092        66,734,450          38,349,946Outstanding - Basic and Diluted
TERRA TECH CORP. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS                                                                                 June 30,               December 31,                                                                                 2018                   2017                                                                                 (Unaudited)ASSETSCurrent Assets:Cash                                                                             $   5,153,608          $    5,445,582Accounts Receivable                                                                  1,210,446               959,698Notes Receivable                                                                     6,158,731               5,010,143Inventory                                                                            3,840,773               5,760,019Assets Held for Sale                                                                 904,352                 -Prepaid Expenses and Other Current Assets                                            1,086,989               1,067,689Total Current Assets                                                                 18,354,899              18,243,131Property, Equipment and Leasehold Improvements, Net                                  34,940,408              19,191,616Intangible Assets, Net                                                               26,696,348              27,773,110Goodwill                                                                             28,921,260              28,921,260Other Assets                                                                         878,098                 4,058,682TOTAL ASSETS                                                                     $   109,791,013        $    98,187,799LIABILITIES AND STOCKHOLDERS' EQUITYLIABILITIES:Current Liabilities:Accounts Payable and Accrued Expenses                                            $   4,076,973          $    5,444,710Derivative Liabilities                                                               1,891,400               9,331,400Total Current Liabilities                                                            5,968,373               14,776,110Long-Term Liabilities:Long-Term Debt, Net of Discounts                                                     12,811,403              6,609,398Total Long-Term Liabilities                                                          12,811,403              6,609,398Total Liabilities                                                                    18,779,776              21,385,508COMMITMENTS AND CONTINGENCIESSTOCKHOLDERS' EQUITY:Preferred Stock, Convertible Series A, Par Value 0.001:                              -                       -100 Shares Authorized as of June 30, 2018 and December 31, 2017; 8 SharesIssued and Outstanding as of June 30, 2018 and December 31, 2017Preferred Stock, Convertible Series B, Par Value 0.001:                              -                       -49,999,900 Shares Authorized as of June 30, 2018 and December 31, 2017; 0Shares Issued and Outstanding as of June 30, 2018 and December 31, 2017Common Stock, Par Value 0.001:                                                       70,853                  61,819990,000,000 Shares Authorized as of June 30, 2018 and December 31, 2017;70,852,978 and 61,818,560 Shares Issued and Outstanding as of June 30, 2018 andDecember 31, 2017, respectivelyAdditional Paid-In Capital                                                           216,839,872             181,357,715Accumulated Deficit                                                                  (127,008,525 )          (105,548,602 )Total Terra Tech Corp. Stockholders' Equity                                          89,902,200              75,870,932Non-Controlling Interest                                                             1,109,037               931,359Total Stockholders' Equity                                                           91,011,237              76,802,291TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                       $   109,791,013        $    98,187,799

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