GreenGro Technologies Inc (OTCMKTS:GRNH) On A Green Rush

GreenGro Technologies Inc (OTCMKTS:GRNH) is on an amazing run up the charts. Shares have now more than tripled off the early March lows. The run looks set to continue as GreenGro and other pot stocks go on a Green Rush 2.0 and deliver big profits for cannabis investors.GreenGro Technologies describes itself as “a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational marijuana sectors.”GRNH just reported 242.94% year-over-year sales growth through the first quarter of 2016 ($522,000 for the 1st quarter of 2016 compared to $152,215 for 2015). The major increase in sales was attributed to new customers along with renewals and the ongoing expansion of the company’s product lines. In addition, the company’s sales are indirectly benefiting from the growth of the recently legalized Cannabis industry.At the end of last month, GreenGro announced that affiliated company iGot420 received final clearance for groundbreaking of a major project in Southern California. The initiation of this project immediately translates into projected company revenues of up to $2,500,000 in sales of equipment and supplies to be used in the first phase of the iGot420 project. CEO James Haas said:

"Greengro's record revenues in the first quarter of 2016 continue to 'grow' due to steadily increasing demand for our product lines centered around Cannabis. Not only does our customer base continue to expand leading to increased sales numbers for day-to-day point-of-sale items, but we are now beginning to see sales associated with large scale projects begin to materialize as well due to the increasingly favorable legal landscape surrounding Cannabis."

In early March, GreenGro launched 420Scan.com, one of the fastest ways to find a medical marijuana dispensary in one’s area. 420Scan’s mission is to be the industry’s most comprehensive service on information concerning medical marijuana dispensaries coast to coast. Unlike other competitors, there is no app required or sign-up needed, interested users only need to text “420” to (805)-420-SCAN (7226) for fresh results which are instantly updated. Users of 420Scan can receive notifications when their favorite dispensaries update their menu or add new deals. They can also request an SMS text message as an alert if a new dispensary or delivery service opens in their area, making 420Scan a must-have for anyone in the medical marijuana community. 420Scan’s initial launch targeted California, the largest producer of Medical Marijuana with other states soon to follow.Currently trading with a market cap of $15 million, GRNH has proven that it's a microcap runner. Last month, we told our readers and subscribers that "we believe that the low is in on the stock and that better days are ahead for shareholders." GreenGro is benefiting from the passage of California bill AB266, which was signed into law on September 11, 2015 and went into effect on January 1, 2016. California is by far the largest producer of Medical Cannabis and we expect this new law will dramatically increase GreenGro's orders and revenues. 2016 is looking like a new green rush for the marijuana industry and GRNH is poised to capitalize on this trend. We will be updating Insider Financial as soon as we know more. For continuing coverage on GRNH, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in GRNH and have not been compensated for this article.