Terra Tech Corp. Reports First Quarter 2021 Financial Results – GlobeNewswire
SANTA ANA, Calif., May 17, 2021 (GLOBE NEWSWIRE) — Terra Tech Corp. (OTCQX:TRTC) (“Terra Tech” or the “Company”) today reported its financial results for the quarter ended March 31, 2021.
Frank Knuettel, Chief Executive Officer of Terra Tech, stated, “On the operations side, we have continued to make improvements and see gains in our existing operations. With revenues of $5.1 million in the first quarter of 2021, we recorded our largest quarter of revenues since the fourth quarter of 2019, registering revenue growth of approximately 41.7% over the fourth quarter of 2020.
“As part of this revenue growth, we have seen consistent month over month revenue gains at both of our dispensaries. Since we reopened our Oakland facility in October 2020, we have seen average monthly sales growth of 15.6% per month and in April, recorded the highest revenue month at our Oakland dispensary since February 2020. Similarly, at our San Leandro dispensary, since we reopened in July 2020, we have seen average monthly sales growth of 14.0% per month, and in April, we recorded the highest revenue month at our San Leandro dispensary since December 2019.”
Knuettel continued, “On the other side of the ledger, expenses, we have continued to