In an 8-K filed with the SEC on January 25th, Terra Tech Corp. (OTC:TRTC) disclosed that the company entered into a Lock-Up Agreement with Michael Nahass, the company’s President, Chief Operating Officer, Secretary and Treasurer, under which Mr. Nahass agreed not to sell any shares of TRTC for a period of one year from the date of the Lock-Up Agreement.
Based on a Form-4 filed with the SEC on the same day, Michael Nahass beneficially owns 33,336,460 common shares of TRTC. At a last trade price of $0.34 per share, Mr. Nahass' ownership is valued at approximately $11,334,396.40. This represents roughly 3.595% of the 927,278,392 shares outstanding as of December 31st, 2017.
This lock-up agreement closely follows a similar one that the company signed with CFO Michael James on January 18th.
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