Wednesday, February 07, 2024
Joe Gomes, 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.
Another Approval. Oregon is the newest state to approve TerraSante for product sales, as management announced receipt of The State of Oregon Agriculture Fertilizer Registration Certificate for its product. The Company’s organic compliance certification from the USDA National Organic Program will apply to the product sales.
Expansion of Revenue. The Oregon approval provides MustGrow with another agriculture-rich state, with the state recording $5.0 billion in agriculture production on 16 million acres of farmland in 2021, which generated 13% of the states’ GDP. With the sales & marketing commercialization strategy in conjunction with BioAg Product Strategies in place for the 2024 planting season, we believe adding Oregon provides another positive to top-line revenue growth for the Company.
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