TRTC - Terra Tech sells non-operating property thereby strengthening balance sheet

Terra Tech ([[TRTC]]) entered into an agreement for the sale of its non-operating N. 4th Street property in Las Vegas, NV as the property cannot be used for  any cannabis related activities based on local zoning changes.The sale price of $2.6M leads to ~$900K balance sheet improvement, after paying off the existing $1.6M mortgage on the property and related sales fees.The sale also eliminates the current monthly burn of carrying the property, including mortgage, taxes, and other associated costs.Closing is expected by early August 2021.With this sale, the company has now added ~$900K to its balance sheet and alleviated numerous costs associated with its ownership thereby enabling it to focus on other things including the upcoming expected closing of acquisition transaction of Unrivaled.

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Terra Tech sells non-operating property thereby strengthening balance sheet