Surna Inc (OTCMKTS:SRNA)
Surna Inc (OTCMKTS:SRNA) is one name that ought to be on each penny stock financial specialist’s radar. The organization is making enormous moves and conveying for its shareholders. Its first quarter comes about demonstrated that and now shares are near breaking out to the upside.
Surna creates imaginative advancements and items that screen, control as well as location the vitality and asset escalated nature of indoor cannabis development. At present, the organization’s income stream depends on its fundamental item offerings – supplying mechanical innovation and items to business indoor cannabis develop offices.
In the latest quarter, sales increased more than 200% to $2.5 million, contrasted with $819,000, reflecting strong sales and more noteworthy demand as more states authorized cannabis. Gross margin enhanced to 43.6% from 10.8%, reflecting good item blend and the advantage of another evaluating plan. Working costs were $724,000, contrasted with $968,000. Operating income enhanced to $365,000, from a working loss of $880,000.
As of March 31, 2016, cash was standing around $1.1 million, contrasted with $331,000 at December 31, 2015. Deferred revenue was around $1.4 million, up from $986,000. Defered income speaks to contracts in advancement, as the organization perceives income as items are sent or services are performed. The organization gained significant ground in Q1.
Surna secured an agreement for roughly $725,000 with Las Vegas cultivator Cloud 9 Wholesale for an office that spreads 30,000 square feet, which will require around 550 tons of cooling hardware for development atmosphere control.
SRNA likewise got four configuration licenses from the United States Patent and Trademark Office for its Surna Reflector items that convey more straightforward light to the covering while giving one of a kind thermodynamic attributes that enhance heat exchange from the development territory.
Surna now has eight pending patent applications and four issued licenses. Its outstanding shares are standing around 145,898,850, while authorized shares at 500,000,000