Growlife Inc (OTCMKTS:PHOT) is seeing a small bump over the last month. PHOT has increased share price by 15% during that time. Yet, PHOT’s 52-week change is more than a 100% increase and the steady volume on the stock shows that investors are like what they see. Ten-day volume is averaging at more than 17 million.
PHOT worked hard last year to increase its growth and the company saw 100% gains every quarter starting from the second going forward. Marco Hegyi and the leadership team at PHOT are working to ensure that GrowLife is the name to know in indoor cultivation facilities as the second wave of the Green Rush approaches. Right now, Hegyi is out building exposure for PHOT through the conference circuit – specifically the World Medical Cannabis Expo – and new investors could be entering the fold as the CEO has some solid numbers to back up his growth model.
Growlife Inc (OTCMKTS:PHOT) bills itself as a publicly traded holdings company that makes and markets high-end, progressive horticulture and lifestyle products right here in the USA and aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines.
Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
The company provides goods, including media (farming soil), hydroponics equipment, organic plant nutrients, and various other products to specialty grow operations across the United States. The Company primarily sells through its subsidiary, GrowLife Hydroponics, Inc.
In addition to the promotion and sales of GrowLife owned brands, GrowLife distributes and sells over 3,000 products through its e-commerce distribution channel, Greners.com, and through its regional retail storefronts. The Company serves a community of commercial and urban cultivators growing specialty crops, including organics, greens, and plant-based medicines. Indoor growing techniques are used to cultivate plant-based medicines. The Company holds rights in approximately 30 Website addresses related to its business, such as www.growlifeinc.com, www.growlifeeco.com, www.stealthgrow.com and www.greners.com.
GrowLife, Inc. provides farming soil, hydroponics equipment, organic plant nutrients, and other products to specialty grow operations in the United States. The company distributes and sells its products through its e-commerce distribution channel, GrowLifeEco.com, as well as retail storefronts. GrowLife, Inc. is headquartered in Kirkland, Washington.
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“I look forward to speaking about the expanding publicly-traded cannabis sector,” said GrowLife CEO Marco Hegyi. “I plan to discuss the opportunities and obstacles that stem from working in a rapid-growth, newly regulated market. GrowLife has been experiencing a period of continued growth and financing and I hope to share this excitement with potential investors and customers at this internationally renowned conference.”
To look at the financials in more detail, PHOT showed net revenue of $2,452,104, as compared to revenue of $1,231,281 for the year that ended December 31, 2016, an increase of 99%. Total assets for the company were $861,866 of December 31, 2017, compared to $534,576 as of December 31, 2016, an increase of 61%. Accounts payable were reduced by $708,521. Also, operating loss showed a positive change of 27%.
In addition, PHOT recently uplisted to the OTCQB bring more eyes and legitimacy to PHOT.
Currently trading at a market capitalization of $53.39M, PHOT has a float of 2.87B. The company has a lot of potential as medical cannabis and CBD oil continues to infiltrate the medical community. The legitimacy of the cannabis sector and PHOT itself are both catalysts to watch. We will be writing updates as they come. Sign-up for continuing coverage on shares of $PHOT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $PHOT, either long or short, and we have not been compensated for this article.