Return From Grey PHOT - Return From Grey Market - from CEO
Trading
Following the SEC trading halt last year, GrowLife has been trading on the grey market. In order to get trading on the OTCQB again, FINRA must approve a 15c2–11 filed by a market maker. Our market maker has been trying since August 28, 2014 to reinstate trading in the stock. If you are a shareholder and have questions regarding the delayed approval, you may want to reach out to FINRA and ask them.
GrowLife and its market maker continue to do everything we can by working with FINRA and openly answering every question they ask. Currently, we wait on FINRA to approve the market maker entering a quotation. The market maker has made five submissions to FINRA and answered all their questions with our support; the last one request for information was received from FINRA 13 weeks after we responded to their previous request. We responded to that request within a few weeks. The normal turn around cycle for FINRA to respond is two weeks, yet it has been 13 weeks for us. We believe that as GrowLife shareholders, you are entitled to understand why the process is taking as long as it has. If you would like the stock to be trading again, then keep in mind that it is up to FINRA, and not GrowLife, to approve trading by a market maker.
Reporting
Despite our lack of capital, GrowLife management has pushed to keep up with its financial reports because we strive to return trading to our shareholders. We are in the process of bringing all our filings current. The recent financings have provided GrowLife the necessary funds for the company to complete the reporting process. Public reporting costs hundreds of thousands of dollars to accurately report. Our 10-K for the year-ending December 31, 2014 was filed on 9/30/15, our first quarter 10-Q was filed on 10/14/15 and we plan to file our second quarter 10-Q shortly along with an S-1 registration statement
