NOTE 20 - SUBSEQUENT EVENTS

On October 12, 2020, the Company announced the resignation of Matthew Morgan, its Chief Executive Officer.  Mr. Morgan forfeited 14,616,118 shares of common stock of Terra Tech issued to him pursuant to the merger between the Company and OneQor Technologies.  The shares will be cancelled and retired on the books and records of Terra Tech.  The Matthew Lee Morgan Trust holds a $0.50 million note that is payable by Terra Tech on December 30, 2020.   The Trust grants to Terra Tech an expiring, one-time $0.25 million credit which it may use solely as an offset against the Note. 

On October 12, 2020, the Board of Directors of the Company appointed Mr. Nahass to the position of Chief Executive Officer, effective October 12, 2020. Mr. Nahass has served as a Director since January 26, 2012, and as the Company’s President and Chief Operating Officer since November 6, 2017.  Mr. Nahass forfeited 3,654,030 shares of common stock of Terra Tech issued to him pursuant to the merger between the Company and OneQor Technologies.  The shares will be cancelled and retired on the books and records of Terra Tech. 

On October 22, 2020, the Company agreed to an amendment to its August 19, 2019 Asset Purchase Agreement with Picksy Reno LLC (Mystic Holdings, Inc) to substitute shares Mystic common stock for the cash portion of the purchase price that was due at closing.  The cash portion is $8,332,096.  There are safeguards in the amendment that help to assure that Terra Tech will be able to liquidate the Mystic LLC stock for a minimum of $8,332,096.

Subsequent to September 30, 2020, senior convertible promissory notes and accrued interest in the amount of $0.05 million and $0.01 million, respectively, were converted into 1,037,314 shares of common stock.