Revenue increased 19% versus the second quarter in 2018; up 40% from first quarter 2019 IRVINE, CA / ACCESSWIRE / August 8, 2019 / Terra Tech Corp. (OTCQX:TRTC) (“Terra Tech” or the “Company”), a vertically integrated cannabis-focused agriculture company, today announced its financial results for the period ended June 30, 2019. Derek Peterson, Chief Executive Officer of Terra Tech, commented, “We generated $10.37 million in revenue during the second quarter of 2019, a 19% increase from the $8.72 million in the same period of 2018. Gross margins saw a 526-basis point improvement over the prior year’s quarter due to our lower cost of goods and higher margin private label sales. These strong results were driven by one of our healthiest quarters on the retail level, especially in our San Leandro dispensary which commenced adult use sales in May, further positioning us as a leading vendor in California. “The Company is as lean and healthy as it has ever been, and future quarterly results are expected to reflect the strength of our retail position and streamlined operations. In addition to our San Leandro performance, this quarter has seen several other milestones, including the launch of Terra Tech’s cannabis delivery service in Santa Ana which has cemented us as a major supplier of medical and adult-use cannabis to Santa Ana and its surrounding cities. The Company has made substantial headway in Nevada as well, where we started the process of opening our Blüm CBD store located in a highly trafficked section of Downtown Las Vegas. In Reno, we acquired complete ownership of our Blüm Reno dispensary allowing us to ramp cultivation and production. “Our quarterly performance shows that the Company is trending in the right direction. Our restructuring program is well underway and we have already begun transitioning out of our non-core assets, streamlined both our operations and headcount, and identified some potential acquisition targets. Terra Tech is also looking to leverage relationships to investigate operations in the global CBD market due to its wide appeal, opposed to the heavily regulated cannabis market which is yet to see the same level of acceptance. We have a clear path to profitability and remain committed to building shareholder value,” concluded Mr. Peterson. Financial Update

For the quarter ending June 30, 2019, the Company generated revenues of approximately $10.37 million, compared to approximately $8.72 million for the second quarter ending June 30, 2018, an increase of approximately $1.65 million or 19%. The increase was primarily due to increased Cannabis revenues due to our Dispensary year-over-year growth of $0.95 million or 14.0% due to increased customer traffic and higher average sale amounts. Also driving the increase is the development of cultivation and production operations, which accounted for $0.58 million of the increase. The Herbs & Produce division increased by $0.12 million year-over-year. Gross margin for the period ending June 30, 2019 was approximately 47.4% compared to approximately 42.1% for the second quarter ending June 30, 2018. The increase in Gross Margin was primarily due to operational improvements in the cannabis segment. Selling, general and administrative expenses for the period ending June 30, 2019 were approximately $12.05 million, compared to approximately $9.86 million for the second quarter ending June 30, 2018. The Company reported a Gain on Interest in Joint Venture of $0.35 million for the period ending June 30, 2019, due to measurement period adjustments recorded for the consolidation of the Nuleaf joint venture. The net loss attributable to Terra Tech for the period ending June 30, 2019 was approximately $10.14 million or $0.10 per share compared to a loss of approximately $9.97 million or $0.15 per share for the second quarter ending June 30, 2018. The Company had $1.9 million in cash as of June 30, 2019, compared with $7.2 million as of December 31,