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Home 🌿 Marijuana Business News 🌿 Terra Tech Reports Third Quarter 2015 Results 🌿Terra Tech Reports Third Quarter 2015 Results
Record 53% revenue growth; gross margin increased by 478%
NEWPORT BEACH, Calif., Nov. 9, 2015 /PRNewswire/ -- Terra Tech Corp. (OTCQX: TRTC) ("Terra Tech" or the "Company"), a vertically integrated cannabis-focused agriculture company, today announced its third quarter 2015 financial results for the period ending September 30, 2015.
"The record 53% revenue growth we reported this quarter was driven by the expanded distribution reach of our IVXX brand inCalifornia, the closing of a major Edible Garden agreement with a high-profile grocery retailer, and our concentrated marketing efforts to grow the visibility of our brands," said Derek Peterson, CEO of Terra Tech. "We believe the impacts of California's recently enacted Marijuana Regulation and Safety Act, which is expected to go into effect as early as 2016, will better position us to deliver enhanced stockholder value, and we look forward to leveraging our ability to operate on a for-profit basis to increase the top line and drive revenue."
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