{"id":5088,"date":"2014-11-05T15:14:14","date_gmt":"2014-11-05T15:14:14","guid":{"rendered":"\/?p=5088"},"modified":"2014-11-05T15:14:22","modified_gmt":"2014-11-05T15:14:22","slug":"surna-inc-otcmktssrna-up-by-a-quarter","status":"publish","type":"post","link":"\/articles\/surna-inc-otcmktssrna-up-by-a-quarter\/","title":{"rendered":"Surna, Inc. (OTCMKTS:SRNA) Up by a Quarter"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/88\/88444\/srna_6m_450x350.png\" border=\"0\" \/>Yesterday&#8217;s session was probably a surprise to Surna, Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a>) shareholders. After barely trading over the past couple of months, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a> suddenly shifted over 650 thousand shares over the last session, climbing 25% in the process. The reason for this sudden surge, however, is not too clear.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a> is a hydroponic equipment company that rode the early 2014 marijuana stock craze hard. However, the ride was short-lived and <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a> spent the stretch between late March and November dropping with little pause, from $7.85 to $0.49 per share.<\/p>\n<p>The company reported the following as of Q2 of this year:<\/p>\n<ul>\n<li>$214 thousand in cash<\/li>\n<li>$62 thousand in current liabilities<\/li>\n<li>$346 thousand in Q2 revenues<\/li>\n<li>$2.1 million in Q2 net loss<\/li>\n<\/ul>\n<p>This was before <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a> posted audited financials for Hydro Innovations LLC &ndash; the company it acquired in late July. Hydro Innovations brought under $20 thousand in cash, $300 thousand in liabilities and an annual 2013 net loss of $78 thousand to the table.<\/p>\n<p>The company had five dollars in cash as of its previous quarterly and as an April 24 letter to shareholders informed, it transitioned into &#8216;an active, publicly traded company&#8217; in the first half of 2014, following a series of convoluted mergers, culminating in the Hydro Innovations acquisition. To secure operating capital the company launched an offering that stretched between April 1 and October 16. Under this offering, convertibles for the total of $1.32 million were issued, all converting at the lesser of $1 per share or a 20% discount from an averaged 30-day price prior to conversion.<\/p>\n<p>Yesterday&#8217;s run is a bit of a mystery, considering there has been no new PR, filings or media exposure for <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a>. There was one positive article on the company published by Microcap Daily on Saturday but it&#8217;s questionable how much influence that could have had. Considering the stock&#8217;s year-to-date performance, it seems unlikely that even the upcoming elections tomorrow and the hopes of pot investors for a more liberal stance on the plant, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SRNA\">SRNA<\/a> will manage to maintain its volume and price movement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday&#8217;s session was probably a surprise to Surna, Inc. (OTCMKTS:SRNA) shareholders. After barely trading over the past couple of months, SRNA suddenly shifted over 650 thousand shares over the last session, climbing 25% in&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1504],"class_list":["post-5088","post","type-post","status-publish","format-standard","hentry","category-news","tag-srna"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=5088"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5088\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}