Converted Organics Inc. (Pending:COIN), became incorporated in 2006 and is based in Massachusetts. COIN deals with technology that contributes to improve the environment by using sustainable business practices and the wise use of our natural resources. There were 3 separate parts to the operation until December 2012 when the company discontinued vertical farming, leaving organic fertilizer and Industrial Wastewater Treatment.
COIN has a plant that takes food and agriculture waste and raw material and turns them into all natural fertilizers and soil amending products. The plant produces around 25 tons of fertilizer a day primarily liquids. For the wastewater treatment, different fuel sources are used to convert it into clean water vapor and landfill residuals. This facility can treat up to 15,000 gallons of water a day.
In May 2010, the Company formed a subsidiary of the Company, TerraSphere Inc. The purpose was to acquire membership interests of TerraSphere Systems LLC. This Company is involved with vertical farming. This system is for growing pesticide-free organic produce in a controlled indoor environment. As of December 2012, the company does not deal with vertical farming.
COIN is currently trading for $.0041. Over the course of the past 52 weeks, this company has seen a low trade of $.0007 and a high up to $1.40. The previous close was for $.0052. This company's market cap is $2.20M.
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Edward J. Gildea
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.