Surna, Inc. (OTCQB:SRNA)

surna-logo1Surna, Inc develops, manufactures, and distributes solutions for controlled environment agriculture, specifically for cannabis cultivation. Based in Colorado, the company says its systems are currently in place in the US as well as in other countries such as Canada, Australia, and South Africa. The company is also noted for having had Zynga co-founder Thomas Bollich at its helm until earlier this year.

Products of the company are mostly for indoor growing climate control. These include grow reflectors, commercial chillers, air handlers, and dehumidifiers. Surna touts its climate control system as more efficient than other such systems in the market because the company uses water-chilled or water-cooled mechanisms.

A major part of Surna’s approach is its acquisitive strategy, aiming to aggregate technologies, intellectual property (IP), and even scalable businesses. Several of the company’s products are in fact results of acquisitions.

For instance, Surna acquired the IP portfolio of Safari Resource Group, Inc, which includes the patented “Airstream” reflector. Surna also acquired the cultivation equipment company Hydro Innovations, which originally developed the water-chilled mechanism. Currently, Surna has a total of 11 patent applications in the US, covering its products and its hybrid facility program.

Among Surna’s biggest headline-makers was that it named Tom Bollich, who co-founded the gaming giant Zynga, as its CEO starting March 2014. The announcement made the company a rising star in the stock market; however, Bollich eventually resigned in April 2015.

Surna is now led by Principal Executive Officer Tae Darnell, COO Bryon Jorgenson, CFO Doug McKinnon, and CBO David Traylor.

Originally founded and incorporated in Nevada in 2009, Surna is currently headquartered in Boulder, Colorado. It has two facilities, both located in the state: the first occupies 18,000 square feet, and the second, acquired just in July 2015, occupies 7,000 square feet. The company aims for this expansion to increase its manufacturing footprint by 70 percent.

Surna is publicly traded in the OTC markets under the ticker symbol SRNA. Its market cap as of July 27, 2015 is at USD 9.77 M.


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