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GrowLife, Inc. (PHOT)
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What a joke, this board needs to be fired
i have traded this stock from the start when it went public and its never made a penny since the opening ! This is a stock with all revenue paid out to the Board of Directors and CEO and another new President. They will offer more outstanding shares to stay in business.
Seeking Alpha Reported -
GrowLife names Dave Dohrmann as CEO
May 31, 2022 8:40 AM ETGrowLife, Inc. (PHOT)By: Preeti Singh, SA News Editor1 Comment
GrowLife (OTCQB:PHOT) has announced leadership changes, with company president Dave Dohrmann assuming the role of CEO, effective July 1, 2022.
Dohrmann replaces previous CEO Marco Hegyi who is leaving the company. He will also replace Hegyi on the GrowLife board of directors.
ANOTHER REVERSE SPLIT
On June 17, 2022, the Board of Directors (the “Board”) of GrowLife, Inc. (the “Company”) approved the implementation of a one-for-one hundred and fifty (1:150) reverse stock split of all of the Company’s issued and outstanding common stock (the “Reverse Stock Split”), as of the Record Date of June 17, 2022.
The Reverse Stock Split was previously approved by the Company’s shareholders at the Company’s November 5, 2021 annual meeting of stockholders. The approvals provided discretion to the Board to implement the Reverse Stock Split any time prior to September 1, 2022.
As a result of the Reverse Stock Split, every one hundred and fifty (150) shares of the issued and outstanding common stock of the Company will be converted into one (1) share of common stock. Any and all fractional shares resulting from the Reverse Split which are less than 1 (one) whole share, shall not be rounded up to the next whole share and rather such Holder shall receive a fractional pro-rata cash payment equal to 120% of the closing market price on June 17, 2022. Any and all fractional shares created by the Reverse Stock Split which are greater than one (1) whole share will be rounded up to the nearest whole share.
The number of authorized shares will not change as a result of the Reverse Stock Split.
Form K dated June 23rd:
The Reverse Stock Split will become effective upon announcement by FINRA (the Financial Industry Regulatory Authority).
GrowLife, Inc. (the “Registrant”) is unable to file its Quarterly Report on Form 10-Q for the period ended March 31, 2022 (the “Report”) by the prescribed due date, without unreasonable effort or expense. Specifically, the Registrant’s completion of its audit for the period ended December 31, 2021 has been delayed. In accordance with Rule 12b-25 promulgated under the Securities Exchange Act of 1934, as amended, the Registrant intends to file the Report on or prior to the fifth (5th) calendar day following the prescribed due date, or as soon as practicable thereafter.
they took $70k off my hard earned money...what a s......
When’s an update or earnings ?
on survival air
GrowLife, Inc. Reports Increased Backlog and Highlights Positioning for Future Opportunity in Quarterly Filing
Mon, November 16, 2020, 11:22 AM EST·3 min read
Company Files Quarterly Report on Financial and Operations Results from the Period Ending September 30, 2020
GrowLife shipped $1.4M in revenue for the period
GrowLife reported a $1.9M sales order backlog, not included in revenue
GrowLife increased its blended gross margins to 38.1% for the nine months September 30, 2020, up from 32.5% during the three months ended September 30, 2019
GrowLife reduced operating expenses for the nine-month period ending September 30, 2020 by $2.8M when compared to the same period in 2019.
GrowLife focused on positioning its EZ-CLONE business, its base business, and its expanding genetics business to benefit from potential legislative change such as federal decriminalization of cannabis
KIRKLAND, Wash., Nov. 16, 2020 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTC: PHOT) (“GrowLife” or the “Company”), one of the nation’s most recognized indoor cultivation product and service providers, today announced financial results for the period ending September 30, 2020 and provided further insight into the company’s positioning as a leader in propagation and genetics for the burgeoning cannabis and hemp industries.
The Company shipped $1.4M in revenue and ended with an additional $1.9M backlog of sales for the period ending September 30, 2020. Further, as a result of the cost reduction measures implemented in 2019, the company reported increased gross margins of 38.1% for the nine months September 30, 2020, up from 32.5% during the three months ended September 30, 2019 and a gross profit of $0.5M for the third quarter 2020. Finally, GrowLife reduced its operating expenses by $2.8M during the nine-month period ending September 30, 2020 and reduced cashed used in operations by $0.5M, from $2.0M to $1.5M.
“While 2020 has not been without its challenges, I am proud to report that GrowLife continues to generate new sales, especially in our EZ-CLONE business, and further position ourselves to capitalize on the expanding opportunities in legalized hemp as well as the impending legalization of cannabis,” said GrowLife CEO Marco Hegyi. “We recognize that shipping the $1.9M backlog of sales yet unshipped products could have brought us extremely close to profitability. Therefore, we are seeking to scale up production to meet demand by the majority owned EZ CLONE subsidiary. I believe we are taking all the necessary steps to realize this potential for our shareholders as soon as possible.”
GrowLife is positively positioned with profits plus profitable partnerships expanding. Every American Pot/Hemp primed company goes through the ups and downs especially when still dealing with the banks makes it hard to show profits until federally recognized. Hemp and CBD are already showing an upswing due to the farmbill and CBD products becoming acceptable with the FDA for Physicians to prescribe. This companies brass tacks are its farming base - and that will only increase with the Hemp/CBD wave on the horizon. This will only increase profitability as we wait for FDA declassification and federally Ok’d Recreational/Medical use of its THC bound cousin. I believe that to throw in the towel now is short sighted because the future for those that can weather it is bright.
ok so what do today financials say today what does any one think about it.
Something big is happening. 4 million shares in 5 minutes and up to 15%.
After all these years of investing mostly as a hobbie, not to make a living out of it.......I learned 2 things.
1 - Good news does not mean anything.
2- Everytime I purchased stocks I am almost 95% sure It will drop in price and stay there for a loooong time.
In my opinion. the quarterly results, with increased sales and reduced liabilities, show the Company is headed in the right direction. Net income is at least a year or more in the future, assuming the increased efficiency of its products produces high growth. The bottom line - PHOT, obviously, is still a highly speculative investment but inching to respectability.
I lowered my average cost per share today, now I am only down 950 bucks. One more day like today and I will be ahead 950 bucks.
I do believe in this company, their product is in high(pun intended) demand.
I'm in it for the long haul
I wonder if this company will ever realistically see shares at $1.00 +
I have been holding quite a while, am down about 30% but this stock really doesn't seem to move much lol.
However, the company seems really neat and legitimate. What are you all thinking?
They just borrowed $3 million and bought ALL remaining interest in EZ-Clone and paying back and closing out about $750k to other lenders. They must REALLY like the EZ-Clone.
called Charles Schwab today about the warrants.and talking with them we realized Charles Schwab was not informed about the reverse split in 2019. this may be part of the problem. they also found no effects to the warrants being discussed during the reverse split. some reporting issues may be causing this thing too get quirky
8-k filing with the SEC is up to date but communication between stock vendors and trading companies such as Schwab is lacking. . I have also put a call in with investor relations at grow life. I am awaiting a call back
Today, there are three key dates to mark on your calendar
October 17 is the date that recreational cannabis sales commence in Canada
November 6 is the U.S. mid-term election – when 12 states could legalize cannabis
When the market expands, cannabis stocks surge.
It’s pretty simple. Just like synchronized swimming, the entire sector occasionally moves together.
During the 2016 presidential election, nine states voted on legalization measures.Seven of nine states passed the ballot initiatives – including California’s Proposition 64.
The pot stocks surged on the news.
Just take a look at shares of Canopy Growth (TSE: WEED). The shares – which primarily traded in Canada back in 2016 – took off! Shares shot up from $5.91 to $13.06 in 24 days! And has since gone much,much higher .
So, looking at individual stocks is the only way to see how the market moved in reaction to the 2016 elections.
You’ll recall that California recreational sales went LIVE on Jan. 1, 2018.
Pot stocks experienced a major run during the 100 days prior to this key event.
It basically means that the entire sector DOUBLED in price just three months.
Right now, we’re getting ready for the NEXT major move.
On Oct. 17, Canada recreational sales will begin.
With 36 million people, Canada is nearly the same size as California (population 39 million)
Deloitte research says it could be an $8.7 BILLION market.
But that’s not all.
On Nov. 6, Americans in 11 states will vote on cannabis legalization.
States considering ballot initiatives include Connecticut, Delaware, Florida, Kentucky, Michigan, Missouri, New Jersey, Ohio, Rhode Island, South Dakota and Utah.
Expansion of recreational and medical cannabis would be big news for “pot stocks.”
With 61% of Americans in favor of full legalization… I’d expect these initiatives will pass in many states.
This expanding market is creating a new MARIJUANA BUYOUT BOOM.
Major players – like Canopy Growth and Aurora Cannabis are buying up the smaller players. Plus, alcohol, tobacco and pharmaceutical companies are looking to make major investments. It's only going to get much bigger and profits and revenue are going to take off and they won't be looking back. Complain,sputer and knock all you want , but for me and my house we believe that better things are coming around the bend !
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