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Never said a crime wasn't committed.. I'm just asking for proof that the company did it.
SA and P&D's have played a HUGE part in this company along with the money runners.
Just something to think about.
Thank you... I truly hope you stick around to bring sanity back to this board.
You always make me laugh!!! Thanks!!!
THANK YOU
THANK YOU
THANK YOU
THANK YOU
THANK YOU
THANK YOU
Finally an honest and FACTUAL answer !!!!
BECAUSE THE SEC SUSPENDED TRADING IN PHOT! That's it! I don't have a clue WHAT EXACTLY THEY FOUND and I seriously doubt anyone on this board does either. Because no one on this thread suspended PHOT. The SEC suspended PHOT. SMH
I understand the curiosity, but the hatred and false information is unacceptable.
Just my opinion.
Ok, thanks but I'm asking why OTHERS are screaming a crime has been committed. If they believe one has, then post the reason.. if they don't know and suspect, then they can pick up the phone and inquire about it so they can answer my question.
But I'm trying to find out why this board feels there has been a crime committed. A factual reason.
So far NOTHING !!!
So either they are just pissed and following the general emotion and really have no clue.
Or they just have no clue.
Either way.. NOBODY has produced any facts.
Don't get me wrong, it's a dire situation we're in with the suspension...but I'd like to know why everyone is blaming the company for criminal activities.
Some one.. ANY ONE, answer the question !!!!
Thank you, but I was referring specifically to what crime was committed by PHOT as so many have eluded to.
Can you please humor me and tell me how this conversation is going to go with your attorney?
Let's start with what your basic gripe about PHOT is going to be.
What exactly makes you feel you've been wronged?
I'm not looking for a link to an article I've already read... I'm looking for personal answers to why you think fraud is involved... Obviously our returns are not delinquent.
Show me the crime here.. what are your beliefs of any wrong doing.
I'm not pointing to you directly but it would be nice to know why people are screaming foul... I guess I just want the facts instead of listening to everyone jump on the band wagon because they are pissed they are more than likely going to lose money.
Since I've been asking, NOT one person has been able to give me any facts.
Just throwing this out there... Is it possible Elisabeth Wedam fell under Rule 144. I can't swear to it, but it seems that I've seen something about that somewhere else before.
Considering the restrictions involved with 144 paper and Sterling's statement
The process for my wife of actually preparing to even sell one share, began more than one year ago
So let me try to follow your train of thought here...
You put your own personal money into buying/establishing a company... and NEVER want or expect to be reimbursed??
You consider cashing in shares a crime??
Hmmmm, the more I think about this, I'm kinda liking the way you think... tell you what, loan me ten bucks and when you want to get your money back I'm going to scream foul and call you a criminal.
So that's a "NO".
You nor anyone else here can state any illegal activities that can be backed up with facts.
Can someone please explain to me exactly WHAT illegal activities were performed here?
Not what you "think" may have happened.. but actual facts.
Take a look at the below correspondence between Growlife and the SEC The last one references they have completed their review. I'm sure it is standard language everything after that.
But to say they knew this was going to be suspended I think is a bit of a stretch???
There are no other documents that have been published by the SEC at this point to factually prove Growlife knew anything.
Keep in mind this all dates back to the 2012 filings. (So if this is the reason for the suspension, this information has been out there and WE ALL had the chance to do something before the suspension)
Initial Correspondence to Growlife dated 12/23/13 from the SEC (This one has been posted preciously)
https://www.sec.gov/Archives/edgar/data/1161582/000000000013069805/filename1.pdf
Growlife’s Acknowledgement letter to the SEC dated 1/8/14
https://www.sec.gov/Archives/edgar/data/1161582/000107997414000010/filename1.htm
Growlife’s formal response dated 1/22/14
https://www.sec.gov/Archives/edgar/data/1161582/000107997414000052/filename1.htm
SEC’s letter of completion of review dated 2/4/14
https://www.sec.gov/Archives/edgar/data/1161582/000000000014005739/filename1.pdf
OMG, there is ABSOLUTELY no pleasing you people... I'm getting PM's over the weekend that a PR better be put out, that this needs to be addressed immediately. We need answers... blah, blah, blah....
Well you got your PR, you got your answers and YOU'RE still not happy.
The damage has already been done with the SEC suspension nothing is going to change that for now. This is the first day of a full week following the suspension.
They have plenty of work to do.
Give it a little time PLEASE !!!
So nice to know that the company addressed this situation immediately after the weekend.
It is an open and sincere letter that should calm your fears and current concerns.
Sterling was very open and honest including his personal life. You don't get that much from a CEO these days.
So can we all PLEASE stop with the insanity until we get more FACTS?
WOODLAND HILLS, Calif., April 14, 2014 /PRNewswire/ -- GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry which develops, markets and deploys products and services of legal cannabis, has released an open letter to shareholders:
Dear Shareholders:
The SEC determined on April 10, 2014 to impose a temporary trading halt in GrowLife stock that may extend through April 24, 2014. This communication is to inform shareholders of the information available to the Company and to directly address, to the extent possible, several of the many questions that we have heard from shareholders and investors.
Did the Company have any advance notice of an impending SEC trading halt?
No, we did not have any advance knowledge, hint or warning. GrowLife learned of the SEC's actions at the same time that the market did on April 10th.
What caused the SEC to order a trading halt?
The answer is that we simply do not know and the SEC is not obligated to immediately provide information to GrowLife or its shareholders.
GrowLife is actively engaged in outreach to the SEC in an effort to first understand and then address the concerns. This is a normal process associated with informal SEC reviews and one for which GrowLife has retained specialized counsel in order to maintain communications with SEC. GrowLife will not engage in speculation. We will fully address any regulatory concerns when they are identified to us.
All that said, GrowLife has no knowledge of any irregularities that may warrant a suspension of trading in our securities and the fact remains that the SEC ordered a trading halt.
While the SEC review is ongoing, is the Company open and operating its businesses?
GrowLife is absolutely open for business in all of our stores and facilities. The GrowLife team has been working tirelessly to maintain, without missing a beat, the extraordinary team dedication and customer service that has allowed GrowLife to expand our business's interests in our unique market sector.
Will the SEC halt have an adverse impact on the value of GrowLife shares in the marketplace, even after trading resumes?
If history is any guide, there is likely to be a negative impact to GrowLife shares when trading is allowed to resume. GrowLife is a widely held security in our market sector and an industry leader. The Company will do everything in its power to minimize impact to shareholders and all of our business relationships. Most of all, we urge calm deliberate consideration by shareholders of information as it becomes available. We understand that is very difficult.
GrowLife developed as an industry leader in part because the Company team has a solid combination of customer commitment and business fundamentals. We do not welcome controversy; but we are not quitters. We are confident in who we are and what we do. The entire management team and Board of GrowLife is committed to continued transparency, addressing the concerns that we are made aware of and to continuing to build our extraordinary business. As part of our commitment, you will see a new website, noting our leadership team and continued focus on addressing customer and shareholder concerns.
Have "insiders" sold stock in GrowLife following the filing of the Company's annual report on Form 10K?
Yes. There is a very limited window of time after major regulatory filings where insiders are permitted to make controlled sales of stock. This is a very highly regulated process for anyone that has any material non-public information and it is an obligation that the management of the company takes quite seriously, and always has.
With any company that is publicly held, insiders may sell shares. Insiders are shareholders too. The company has taken what we consider many more than the required steps to make sure that everyone knows the rules and, to the extent under the company's control, the rules are followed.
That said, shareholders and investors should understand that insiders have lives, taxes, debts, and families. For example, company employees who received shares as part of their compensation in 2013 must under normal conditions address that tax obligation prior to April 15, 2014, creating for some the necessity to sell some of their shares. Unlike other shareholders, many of our officers and directors receive some if not all of their compensation in the form of stock. It is not, I repeat not, improper for insiders to sell a portion of their shares in the available windows, which occur after major regulatory disclosure events such as the March 31, 2014 filing by GrowLife of its annual report.
Did Robert Hunt sell a portion of his share ownership in GrowLife?
Yes. Management team member Robert Hunt sold a portion of his ownership in a manner that was known to the company and fully reported. Mr. Hunt sold his hydroponic store business to GrowLife last year where a large payment was in stock, which carries significant tax consequences. It is normal business practice for such obligations to be addressed by selling a portion of the acquired stock in a regulated manner. Mr. Hunt rightly sold a portion of his shares in the limited time available to senior management is decidedly ordinary and normal. We are not aware of any allegation that Mr. Hunt's stock sales were improper.
Did Elisabeth Wedam, wife to CEO and Chairman Sterling Scott, sell a portion of her ownership in GrowLife?
My wife (Elisabeth Wedam) and I invested upward of $2 million in SG Technologies and a good deal of time, more than two years ago now, before it was merged into what became GrowLife, Inc. When that merger was completed, we received no cash but both my wife and I separately received shares in GrowLife. Elisabeth and I have unfortunately been separated for many years but we remain married and her ownership in shares in her name is treated exactly as though they were mine. We are modest well-intentioned people, like most of GrowLife's shareholders. Elisabeth has dedicated most of her professional life to teaching, most recently English as a Second Language in public schools.
In the very limited window during which our insiders may sell under specific limits after the GrowLife 10K was filed, my wife sold a portion of her shares that amounted to less than 5% of our ownership and less than 1% of the outstanding shares of GrowLife. The process for my wife of actually preparing to even sell one share, began more than one year ago, and because I am CEO and Chairman, has always been very carefully scrutinized. The timing was unfortunate given the SEC actions, but the transaction itself is normal and ordinary. Of course the SEC knows that the Company had no knowledge of the surprise halt. For the record, this was the first sale of any GrowLife stock by myself or my wife.
Have any lawsuits been filed against GrowLife arising from the SEC trade halt?
No lawsuits have been filed against GrowLife to our knowledge. We understand that several plaintiff-oriented firms have issued press releases indicating that they have initiated an investigation of GrowLife. The Company has had no direct contact with any of these firms. Unfortunately, plaintiff law firm investigations, including class action efforts, are commonly raised whenever there has been an interruption in securities trading. In due course, should lawsuits eventually be filed, the Company will address and respond to allegations.
Conclusion and Commitment
I will remain 100% dedicated to getting to the bottom of SEC concerns and to keeping shareholders fully informed when we have reliable information. In the meantime, we respectfully ask that our shareholders and investors maintain a measure of calm and patience notwithstanding frustrations that we all feel in this trying time for GrowLife.
You have our assurances that when the SEC provides GrowLife with specific information on its concerns, that GrowLife will conduct itself with candor and full disclosure from the team at GrowLife.
From time to time, GrowLife will provide market updates and news via its websites GrowLifeInc.com, Cannabis.org or the Company's Facebook page at https://www.facebook.com/tellthetruthfederalgovernment
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) develops, markets and deploys products and services addressing the needs of legal cannabis growing and retail operations, including hydroponic growing equipment and retail support software. The Company provides these solutions in our nationwide retail network, as well as online sites Greners.com, Phototron.com and StealthGrow.com. The Company also operates the political and social forum, Cannabis.org
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for GrowLife's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in GrowLife's filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting GrowLife, Inc. please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. GrowLife, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Integrity Media
(702) 396-1000
kurt@integrityir.com
SOURCE GrowLife, Inc.
RELATED LINKS
http://www.growlifeinc.com
Well I'm going to call it a night guys.
Tomorrow's a weekday and hopefully we will get some sort of factual answers so we can stop all of this speculation and making ourselves crazy.
Try to get some sleep
Sweet Dreams ~
K
Everyone is entitled to their opinion... that's what makes the world such a wonderful place.
I may not agree with yours but I certainly respect it.
Hmmmmm, interesting !!!
And it get's even worse, now I'm saying he's either a good actor or has got a stock heavy deal in lieu of salary?
WOW, talk about embellishing
I might suggest in the future if ANY of you have a question for me, or would like to verify something you've heard I've said, please do not hesitate to PM me to confirm what I may or may not have said.
No, I wouldn't want to flag it, I would just prefer that it's cleared up if that's OK with you.
With everything that is going on, I'm sure there is a lot of confusion and it's hard to keep everything straight... this all has been overwhelming for everyone.
I just don't want anyone to think I said Kurt acted confused and shocked. I can assure you I never said that nor have I ever even had that impression of him.
No worries, it's all good.
He acted confused and shocked when Kristi called
Hahahaha ~ Well if you ever do get to close south, I'll make sure to protect you as much as I can.... that is unless I can out run you !!!
I'm from the south, they still do all kinds of freaky things here ~ LMAO
Remember the crazy guy that attacked and ate the other guys face in Miami??
Eyyy, Eyyy, Eyyy... You're KILLIN' me Smallzzzz!!!!
You're missing the WHOLE point here, it was suspended by the SEC, went to the Grey's and then magically for no reason, the SEC decided to reinstate it.
The wording for the initial suspension was EXACTLY the same as it was for PHOT.
The lesson here is that it can happen, it recently happened and pretty much magically happened with the SEC Reinstatement.
There are other's I've found, but quite frankly after this class I'm to freakin' exhausted to post and explain each one!!!! ~ LMAO
Oyyyyy Vayyyyy, where's my Excederin???
The skull and crossbone symbol means "Caveat Emptor"... it has nothing to do with the market it trades on.
OTC Markets Group Inc. (“OTC Markets”) has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware) for one of the following reasons:
Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public. OTC Markets believes adequate current information must be publicly available during any period when a security is the subject of ongoing promotional activities having the effect of encouraging trading of the issuer's securities. At such instances, as a matter of policy, when adequate current information is not made available, OTC Markets will label the security as "Caveat Emptor." Promotional activities may include spam email, unsolicited faxes or news releases, whether they are published by the issuer or a third party.
Investigation of Fraud or Other Criminal Activities — There is an investigation of fraudulent or other criminal activity involving the company, its securities or insiders. When OTC Markets becomes aware of such investigation, the companies’ securities may be subject to Caveat Emptor.
Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
Undisclosed Corporate Actions — The security or issuer is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
Other Public Interest Concern — OTC Markets has determined that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
OTC Markets will resume the display of this security’s quotes once adequate current information is made available by the issuer pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use caution and due diligence in their investment decisions. Please read our Investor Protection page and OTC Markets Policy Regarding Caveat Emptor for more information.
Honestly, I'm NOT sticking up for anyone, but I do believe we should hear both sides of the story... I just think before anyone rushes to judgement they should know all the facts to make an intelligent decision.
Wouldn't that make more sense than the current "Lynch Mob" we've got going on right now?
Ohhhh, for goodness sake...I'm not sure what you're looking at but here are some MORE links.
Look under "Old Venue" (Grey Market) and "New Venue" (OTC Link)
http://www.otcmarkets.com/market-activity/venue-changes?search=mddd&searchType=symbol
Or look here under "Old Tier" and "New Tier"
http://www.otcmarkets.com/market-activity/otc-tier-changes?search=mddd&searchType=symbol
My suggestion would be call TD and ask them what the problem is.
You might want to check again... there was a link in my first post, but here is another one for a second opinion.
http://ih.advfn.com/p.php?pid=squote&symbol=mddd
MDD* is back on the OTC now and not the Grey/Gray's any longer.
I don't know anything about that company, I'm just finding out that it can happen and oddly enough has the same exact wording as PHOT did in their SEC notice.
Found this to be interesting....
Notice the same wording for MDDD's suspension is EXACTLY that of the one given to PHOT.
MDDD is now trading again on the OTC
The Securities and Exchange Commission announced the temporary suspension, pursuant to
Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the
securities of Makism3D Corp. (ticker: MDDD; hereinafter "Makism3D"), of Cambridge, United
Kingdom at 9:30 a.m. EST on December 13, 2013 through 11:59 p.m. EST on December 27,
2013.
The Commission temporarily suspended trading in the securities of Makism3D because of
concerns regarding the accuracy and adequacy of information in the marketplace and potentially
manipulative transactions in Makism3D's common stock. This order was entered pursuant to
Section 12(k) of the Exchange Act.
MDDD became the target of one of the biggest pumps of the forth quarter of 2013.Touting started in November and at the beginning, it was primarily done through a landing page (which has been brought down) and some emails. Later, rumors about a hard mailer campaign appeared and if you spend some time searching, you’ll have no problem finding photographs and scanned versions of the glossy brochures.
The promotional budget stood at around $2.75 million and was provided by an entity called Edge Strategies LLC. As you can see from the chart at the beginning of the article, the pump drew quite a lot of attention to the stock, but on December 13, the SEC decided to put an end to the fiasco and issued a temporary suspension order on the ticker.
A Caveat Emptor badge was placed on the company profile on the OTC Markets and, a couple of weeks later, trading resumed on the Grey Market. Many people thought that the suspension would be the stock’s undoing, but they were wrong. MDDD went through some wild trading while it was on the lowest tier and a couple of weeks ago, for reasons that are not very well explained, OTC Markets decided to reinstate the ticker. The skulls and crossbones badge was removed on March 21 and on Monday, the management team announced that the stock is now traded on the OTCQB marketplace.
This is one of the very few penny stocks that have managed to come back from the graveyard that is the Grey Market which could be considered by many to be an extremely positive sign.
Your beefs not with me.... Contact the author if it's incorrect and demand a retraction... I just re-posted the article.
Sterling reading our board?? "Ain't nobody got time for that"... Good Grief, it's hard enough trying to keep up with all these post. Hopefully he's busy working on a PR with an explanation.
I couldn't tell you
Thanks Koog ~
Thank you Mladie... and that's what keeps me going. We've all become a sort of family here and my heart breaks for all of us right now.. but if not for a little faith, what's the use.
Did they sell the shares illegally?
Are you 100% positive they knew PHOT was going to be suspended?
Don't you think if they saw it coming others would have lined up to sell too.
Do you think Hammer would have bought shares on the open market?
Yes, it does scream witch hunt to me.
You don't have the facts, neither do I at this point, They responded on Friday and it's the weekend for goodness sake. Let's give them a little time.
Trust me, I'll be right there lighting the match if we don't get answers but for now, put the torches down before y'all burn down the whole town.
Thank you, as I have also said, I have never been through something like this before.
But those that I did check, I did not find it to be standard wording.
I do not believe the weed industry is irrelevant with sec regulations... you could be correct, I'm just saying at this point I do not believe it's irrelevant... if it were, why has it become such a target along with rumors of more being suspended?
I am not doubting your knowledge or experience and I am certainly not calling it into question.
I am referring to this industry. The weed industry is uncharted.
I mean no disrespect to you as anyone on this board can tell you I am not that type of person.
I welcome any information you would like to share from your prior experiences that pertain to this situation.
Please give me your take on this.
(“GrowLife”) because of concerns regarding the accuracy and adequacy of information in the
marketplace and potentially manipulative transactions in GrowLife’s common stock.
Sterling form 4, he sold 5 million shares
I honestly couldn't tell you. I just posted the article.