Friday, August 23, 2024
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A New State. On the heels of Idaho’s approval of TerraSante earlier in the month, MustGrow announced receipt from the Arizona Department of Agriculture for the registration approval of its TerraSante product. The approval will give MustGrow the ability to commence sales within the state. Arizona now joins a list that includes four other states in the aforementioned Idaho, Oregon, California, and Washington State.
Synergy with California. Arizona’s approval is key with the Company’s commercialization strategy with BioAg Product Strategies. In the winter months, agriculture companies in California use the winter climate in Arizona for its winter farming production. We believe that the Company can ‘double-dip’ in potential sales to farming companies looking to use MustGrow’s products for both California and Arizona, providing increased revenue.
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