Indoor Harvest Corp, (INQD)
Indoor Harvest Corp, (INQD) through its brand name Indoor Harvest, is a full service, state of the art design-build engineering firm for the indoor farming industry. Providing production platforms and complete custom designed build outs for both greenhouse and building integrated agriculture (BIA) grows, tailored to the specific needs of virtually any cultivar.
The company’s stock currently trades around $0.45 a share with average volume of 19,682 shares. IT is considered a penny stock. The company has market capitalization of $5.52 million, with 52 week trading range of $0.29 to $0.74 per share. Its outstanding shares are around 12,237,864, while authorized shares at 50,000,000.
The company recently announced strong results for the second quarter and first half of this year. In Q2, it generated consolidated revenue of $39,872, compared with the cost of sales of $27,122, representing a gross income of $12,750. In the first half of this year, the company generated revenue of $62,166, relative to cost of sales of $43,921, which resulted in a gross income of $18,245.
In addition, the company continues to invest on research and development activities. Its research and development expenses stood around $5,641 in the second quarter and $3,285 in the last six months.
As of June 30, 2016 we had total liabilities of $355,348, while at December 31, 2015, it had total liabilities of $110,147. The increase was the result of accrued payroll expenses from hiring new employees, accounts payable and accrued expenses, billings in excess of costs and estimated earnings and convertible notes payable.
This marijuana stock is in a strong position to support its operations. At the end of latest quarter, it had total current assets of $63,091, while its current liabilities stood around $325,073. The company is aggressively working on its product line in order to expand its revenue base in the coming quarters.