Surna, Inc. Reports Third Quarter Financial Results; Gross Revenues Triple
BOULDER, CO / ACCESSWIRE / November 24, 2014 / Surna Inc. (SRNA), an engineering and manufacturing firm that develops, acquires, produces and sells disruptive technology with a current focus on the legal marijuana industry recently reported third quarter financial results.
Surna CFO Doug McKinnon stated, “As expected, Company fundamentals are now reflected in our technical financials. Gross revenues have increased in excess of 330% from Q2 to Q3, from $340,000 to $1,200,000. When the revenues from our most recent acquisition are factored in, total revenues exceeded $1,800,000, or an increase in excess of 520%. A 40% year-to-date gross margin was also achieved.”
Surna’s research and development engineers are creating advanced technologies intended to retool the cannabis industry. The Company is also aggressively pursuing the most promising acquisitions in the cannabis sector.
Surna CEO and Zynga Co-Founder Tom Bollich was recently featured on CNNMoney for his highly publicized segue into cannabis grow technology.
About Surna Inc.
Led by Tom Bollich, the visionary technologist who co-founded famed gaming company Zynga which ultimately rose to a $10 billion market valuation, Surna’s mission is to acquire intellectual property and scalable operating companies in the nascent, legal marijuana industry with a focus on disruptive technology, equipment and related support services (www.surna.com) Through its wholly owned subsidiary, Hydro Innovations, the Company offers a comprehensive line of commercial and small business indoor agriculture equipment (www.hydroinnovations.com).
The Company represents a pure play on explosive growth in the cannabis industry, while being agnostic as to the escalating proliferation of regulated, commodity cannabis growers & sellers, winners or losers; its business model excludes the production or sale of marijuana.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as “may,” “should,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan” and other similar expressions. Our actual results, such as the Company’s ability to finance, complete and consolidate acquisition of IP, assets and operating companies, could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company such as a result of various factors, including future economic, competitive, regulatory, and market conditions. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
VP and General Counsel
Source: Surna, Inc.