![](\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/93\/93862\/grnh_6m_450x350.png\")
<\/p>\ntags: GRNH <\/p>\n
<\/p>\n
For the last three sessions the stock of Greengro Technologies Inc (OTCMKTS:GRNH<\/a>) has been climbing higher and higher up the chart. The daily volumes have also been growing – from 1.1 million shares on Wednesday to nearly 4.9 million on Friday. After sitting 13.12% in the green at the end of last week the stock reached a close at $0.0707 per share.<\/p>\n The uptrend was sparked by the new PR that GRNH<\/a> <\/strong>published on June 29. In it the company announced the signing of a Memorandum of Understanding with Cannabrands AG, an Austrian based private equity company. GRNH<\/a> <\/strong>expects this agreement to bolster its position in the marketplace with the company <\/strong>anticipating an upsurge in demand for farming capacity. Although the press release didn’t contain any concrete details it seems that was enough to reinvigorate investors.<\/p>\n Jumping in without taking the risks into account, though, could be dangerous. It is true that GRNH<\/a> <\/strong>appear to be in a far better shape than the majority of the pennystocks finishing the first quarter of the year with:<\/p>\n • $204 thousand cash Back in April GRNH<\/a> <\/strong>announced record breaking revenues for the first quarter of $522 thousand but the financial report revealed that $330 thousand of that sum was actually recorded as deferred revenue. Investors should also note that despite the 30% year-over-year increase in the quarterly revenue GRNH<\/a>‘s <\/strong>gross margin for the period went down as a result of higher costs.<\/p>\n
• $992 thousand total current assets
• $645 thousand total current liabilities
• $197 thousand revenues
• $173 thousand net loss<\/p>\n