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Did they advise what was fraudulent?
If not, you are also wrong.
But here comes the big 'sec doesn't need to tell people why' response.
Which is a response lacking the wings to fly.
That's exactly how it goes. Takes money to make money.
Trader to trader transfers only. Trading blind basically. Sellers selling at what they think they can get and buyers trying to get in around the current pps or below.
Scottrade has a no buy order on phot - you can only sell it with ST right now. May have to use another broker to buy phot.
We may find out one day or we may never know, but the punishment was levied on suspected fraudulent or dishonest activity and never affirmed.
Perhaps there was a tie in to our once trusty CEO Mr. Scott - but that thorn was also removed.
All well and good to point to history, but I'm going to point to the future on this one.
I would have cancelled on the basis that this stock is doing better than almost all other Mj stocks in its competition range while being on the greys.
They said this company was doomed.
They said it could never return.
They said it was a terrible business plan run by shoddy management.
The business is proving stronger than the individuals in this case as we welcome Hegyi and our new financial minded addition to the team.
It's a strong foundation to build upon as far as business plans go - though people with absolutely no knowledge in the Mj industry would beg to differ.
What a ride.
Woohoo!
Meanwhile Ihub incurs more law suits than phot - but we still use it.
See ya Scott - hello Hegyi
WA state and Florida.
Stay away for now or stay in for the long haul.
A phototron with modern tech and fitted with led grow lighting is far from a pos.
It is also far from their best product, but a decent one to get the newbies started.
I haven't had a single rip or light leak from their tents, of which I own two.
I haven't had any ballast failures or bulb failures with any products bought from greners.com though it is recommended to replace the bulb after a few cycles for any HID lighting system.
Carbon filters, inline fans, hanging extinguisher systems, ducting - all works just fine and I've had most of this stuff for years.
Seeing a Growlife tent being sold by a non Growlife store definitely put some hope in me that their 'unique' products are gaining some momentum.
If you haven't seen the Growlife tent in action in person then you should find someone to visit who is running one - a very good product and easy to disassemble/reassemble on the fly.
Completely agreed with your post.
For those of us who continue to hold, what will their next step for financing be?
They will need that first and foremost.
Their brand is vast - if they fail then I can't imagine them not being picked up by another company.
But, it's all assumptions and 'maybes' from here on out.
Absolutely wrong! I have still quadrupled my money in this stock.
Sincere apologies if you bought high, but most in at 5 cents can find this startling but also relatively painless.
Why is that? Standing by for fully detailed response.
Just used my 1 post for the day on you - so make it good.
Except we're talking young upstarts in a growing arena of money.
True, any penny has high risk.
Plenty of Mj upstarts will fail or be prone to larger money takeovers in the future.
They have the infrastructure to remain as an entity - but how can I foresee if they return as a viable investment?
I sold some, but kept a good amount, why?
Because I'm going to hold the rest through whatever comes out of this.
In 2 months time, the legal marijuana market is going to double from what it is now, and next year has the potential to triple.
Growlife products aren't going anywhere, I've even seen your small mom and pop shops selling products with a Growlife insignia such as their tents.
So they'll be fine as a company. As a stock, who knows? I know I've regretted selling this enough times to keep a lot of my chips in here for a while.
Why won't they?
Being on the greys apparently hasn't stopped phot from being the most popular Mj stock, even noted by the Ihub boards for activity.
Do you think they'll put it on the apple App Store or is this just for download off of their website?
The lawsuit most likely won't materialize.
If it does, the suit will be directed at the party under investigation - which looks highly unlikely to be Growlife at this time.
It has been great to study up on the greys and thank you all for your historical data.
That said, a company in the emerging industry that is gaining legal legitimacy has the potential for a big turn around. As one of the few here who can vouch for their products, I'm not particularly worried about the company itself.
Stock wise - I don't expect trading to be very lively in the grey market. Sign of strength however that it has maintained a decent price and not gone below .10. A suspended phot still more valued than stocks like fit*? Intriguing.
Ever since bghydro went down - Growlife brands have been taking top spots in Mj equipment sales.
Some have been critical of their financials, but you need to spend money to make money.
Always liked Saleen, but what makes this a good investment? Are they into any other avenues for car production other than tesla? Will they have a version of the new mustang planned to come out?
New name - ANAS.
Last I checked charlottes web was developed by a small group of people who were approached by a family with a daughter ailing from massive seizures.
Are you inferring that nrti now owns and produced the strain? Or is that a guess?
Don't tell me we need another lesson in o/s vs a/s here.
Seems recent as when I checked the new site last week his information was not there.
Gotta say I'm really surprised at the resilience. I know phot has been compared to CANN a lot due to the grey sheet issue - but phot has seemed much more concerned about keeping shareholders informed.
Next I think management really needs to acknowledge they are trading on the grey market and doing everything they can to resume normal trading in the future. Sterling does owe us some communication in regards to their goals and expected timeline of this.
What we know so far is the SEC investigation was not directed at officers inside of Growlife. We can say this is a fact because there has not been a counter release from SEC or other sources to say otherwise. This stand and fight mentality is opposite of what we'd see out of a guilty party.
One has to ask if Sterling and co. Is really guilty, and if so - then why offer the equivalent of a legal rocket launcher to the SEC?
Could there be guilt on the inside? Maybe, but this has not been proven or even inferred on any level besides the standard trader's assumption of an SEC halt.
They immediately restructured the way officers get paid. The companies under their umbrella continue to operate. No insiders have sold shares since the halt.
Last year they put forth 20 million and hit 5 million in revenue. This is how expansion works - large upfront cost in exchange for long term gains.
Besides the fact the stock itself is trading on the grey market, I see no reason to be worried about the company itself.
Hmm I'm actually feeling a lot better than I was two weeks ago about the company itself.
Of course that staggering blow caught everyone wishing we'd have sold at a high point. Goes to show that you really shouldn't plan long term investments in pennies - no matter how amazing the emerging industry appears.
That said I was humbled by this experience - leading me to let go a little over half of my position.
How do I feel? I still have made more money here than I've ever had in my life - for this I am grateful.
Cheers to everyone involved - be you positive or negative on this company. These guys aren't crooks until there is proof - right now they are a company fighting for their shareholders.
Actually it may be that you are the foolish one for putting in on .20. It will probably spike higher here and there and you'll be looking back realizing how ridiculous that sell price was when you could have grazed into the .30's.
Trading may die down on this stock, but it's not done yet - should be pretty active for another month or so.
They'll have plenty of other Canadians to sponsor if not.
Well IMHO they will be fine.
Do you think the CEO could have said all that if it was erroneous? Heck no! He'd be facing serious legal repercussions for the rest of his life.
All officers have stuck it out through this, no one left post-halt. They aren't running - they're fighting.
Did you read last night's release? Sec did not halt phot due to issues within phot's leadership. We've taken this opportunity to speculate on how terrible Sterling and the rest are - but we were wrong.
It would be ironic if bill skirted the issue and tried to buy full setups from fspm though wouldn't it?
Haha one way or another they may re-involve themselves albeit more potentially through a third party like fspm.
Phot --> fspm --> fitx
Welcome to the cannabis production line.
I have a good feeling about today. Thank you all for putting up with me - I was restricted to 1 post over at the phot boards because we have a new mod there who 'specializes in capitalizing on grey market changes' and sought to silence all phot supporters.
Do you know where fspm gets their grow supplies to make their complete setups?
Phot.
I absolutely was quoting what I've read, thanks for the clarification.
Sorry if I came off as harsh to all my fitx buddies. I've held a small amount here for nearly as long as I've held Growlife.
That said, bill is a silly man with an incomplete plan. I rather believe in the plan than the man. Hopefully he surrounds himself with enough intelligent people to keep his goals a reality.
Because they would have been a great team in the long run. There are dozens of fitx's - only one phot out there.
Meaning - plenty of public companies looking to grow in the states and Canada. What public companies other than phot are as well positioned in the equipment side of this industry?
And bill hired someone from the SEC for what exactly?
You should read more, Growlife is looking VERY clear at this time and Bill is looking very silly for jumping the gun.
That said, we have reverse opinions of the two companies. Bill has said way more suspect information to shareholders in efforts to get people to rally around him - then has to backtrack.
I think fitx will honestly do well LONG TERM if they make even 1/4 of what they say they will. They just won't be supported by phot and this will hurt their immediate cost for supplies.
Do you know if bill is still purchasing Growlife equipment from the money of his private investors? His loss if he doesn't.
Just as well to disassociate with Bill.
I can view the bid and ask on phot - shouldn't I not be able to view that if it's grey?
Pos is what people use to call things when they can't intelligently argue their point.
Best of luck on your future.
Bill is barely good at handling anything well.
Couldn't figure out what was a realistic amount of cannabis to grow? Oh just tell the public about a mythical 1 million pounds of cannabis a year.
Sterling may as well be like a mentor to Bill. He won't be able to use Facebook to pump his stock up forever.
Phot and CANN to return to OTC??
Guess what? Phot is clear!
The only person regretting this situation right now is big bill, and of course all his shareholders.
Guess what bud? Phot was cleared!
People used the halt to cook up all sorts of crazy lies about management.
Shorts wanted us all to believe Scott was some crazed money obsessed con man who would use our money to sail to a country with no extradition.
ALL FALSE. Ties with phot won't hurt - the only one hurting right now is big billy Chabaan at fitx
Woohoo! Phot was cleared!
Yup, no way people will sell immediately at .05.
I wouldn't be surprised to see people attempt sells at .89 either.
.20-.40 range
All things considered - tomorrow should be great fun!
It opens Friday morning.