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Thank you HP for saying what I have been trying to say for weeks but was not very successful in getting my point across. You elequence nailed it down....it would seem for even the most serious of doubters! Again you are right....can PHOT stay at the table? Marco has said the right things and seems to understand where the MJ industry is going. Only time will tell. Great post. Thanks again.
So updated numbers delayed for 5 days by the company reporting to the SEC. I like you Sweet beleive that the SEC/FINRA would have/be charging company big wigs if they had the evidence they conspired to manipulate the stock. So far....nothing points in that direction. So, is the only reason they were suspended is for reporting the #'s incorrectly. You more learned traders can fill us all in. I have not read any other reason for the stop trade other than the suspicion of 3rd party manipulation..(those guys got caught and will be in jail) and misreporting company figures via derivitives. Is that all or am I totally missing the point here??....And does that, in and of itself constitute securities fraud?? I stand in wait of those with far more knowlege than me. Enlighten us oh great ones! MBTA
Any growth pros might soon benefit from the PHOT system. How to maximize yield, save money in the growing process and how to maximize profits on the retail end. PHOT does not grow.....again, they are looking to sevice the big boys who are going to supply the shops. I know were I in the biz I would wand to have the as much expertise available to maintain quality control and yield..as well as how to manage the cash flow. He Marco, how bout another memo to explain what you are doing with the company. Focusing on the PPS in this sector I believe is short sighted. But then again I am an idiot! However, my opinion is a good as anyone elses......I still disagree that high grade MJ is easy to grow and maintain. That has no credibility in my world...but glad you are/were having an easy time doing it. GLTA!
Cloning is a "part" of the process...but it starts with the seeds/soil/grow rock/nutrients, humidity, airflow, correct amount of water, correct caregivers (yep just like kids....timers for just the right amount of light...managment of pests that can kill the plants...identifying the sex etc etc. Yep, seems really easy to me!! Think I will start a company. Wow....seems as though some think there is only MARUJUANA and that is just it.....on strain...one kind...one strength.... Ever been to Amsterdam? Cannibis Cup? Gone to a seed bank? Spoken with a professional grower? I have done them all...and can testify that there are many varities of product and all require different care. If it as easy as...."cloning" a plant or two...I will be getting into business soon and you will be able to buy my stock and my product in a few months! LOL. While I do not know a bunch about stock....I do know a considerable bit about MJ and how it is grown....and what it takes to turn out a superior product. Anyone who does not know....should take the time to do DD on this subject. There is a ton of advice on the web...and BTW...some of the best growers in the world are Swiss! Remember I said that PHOT is setting up to be a managment system...not to grow. They want to help the pro-grower from the soil to the store. Along the way, they will pick up a few non pros like myself. But right now I think I will take a few of these seeds and toss them in the garden and wait a few months then revel in my harvest. Wow.
I may be wrong but did Marco not ADMIT to the errors in reporting and make a public filing to correct the errors? You guys would know more than me, but does that action not show that the reporting could actually BE a mistake by the CFO. After all, he is gone too. Just a thought. If so, I stand to be corrected and will always defer to anyone with much more knowlege than me! I am old enough to know...what I don't know. Please everyone...keep us all as informed with real information. Opinions....including mine...are just that.
As I have pointed out before here. Growing pot is not as simple as putting a seed in some soil...watering it....hanging a halide light and waiting for the harvest. Lights, timers, grow boxes and the basics of growing can be bought most anywhere agreed. As I understand Marco's approach it IS unique...a MJ managment system...from the type of soil, the unique chemicals required to grow the different strains and the ability to teach the big growers how to mazimize their operations. You might argue they have NO contracts inked yet....are you sure? The uniqueness of PHOT/Growlife is as Marco said, growing the company vertically.....maybe there is another company that intends on emcopassing the entire system from the soil to the shop...but I do not know who they are. Of course I am no expert but that does seem a unique approach to me. I am in no way defending the actions of the few....but I am also not overlooking the massive...expansive opportunity available in this sector. If PHOT can capitalize they survive. If they cannot you are right we will see triple zips.....I am long so I have to wait and see. If you do not have skin in the game...why would you care? Those of us who are long....will likely remain so. Some are in so deep they cannot get out. You sir see no bright side at all and that is your pergotive....many of us are looking at this new sector with an eye towards growth. We may all be total idiots and loose everything we have invested....but I think to a person we are optimists and will remain so until we see those triple zips many of you predict! GLTA
Some of you heavy DD guys....would you/can you take the time to look up companies like Microsoft and other biggies that came rollin out of silicon valley years ago. I do not have the expertise to do so...I just wonder if they were showing a negative balance on their earnings for the first year or so? Should be interesting don't you think. Having read volumes on the grey market, it is obvious that manipulation will get you there if caught! Question is and so far public info says that PHOT was not involved in the pump. The dump by the CEO is another matter for the Feds. Will he be charged? It seems obvious to believe he KNEW the company was no where near being valued where it was....and sold at .50 anyway, the day BEFORE trading was halted. If only he and the ex did it....then HE should be indicted but the company as a whole should not be punished by the actions of one man! I am still searching daily for any info on an indictment against Sterling. Starting the company with debt seems reasonable to me....in the real world popular knowlege says a company takes about 3 years to turn a profit. Lets just hope PHOT has a figting chance. Again....seems all turns on the lawyers..and the proof of criminal intent at this point. Dad was a lawyer and if alive would (without any more info than we have been given) would be on the phone to these class action law firms with the threat of suing THEM....unless they have a solid reason to sue. As someone told me once....In order to sue for defamation of character...you must first PROVE you have character. Maybe the former CEO didn't....from what I have see Marco does.
Seems the pending lawsuits are the fly in the ointment here. As I understand it proving fraud requires lawyers to prove "intent". If all companies who simply got their numbers wrong were suspended there would be tons of stocks suspended. Companies are allowed to refile and correct any errors right? So....looks like everything here turns on Sterling and ex's sale and IF the company was involved....and IF they intentionally reported the numbers in order to inflate the stock price. If those things can be proven there is serious trouble. If not, the class actions (3) will have to go away for lack of proof. As many know it costs lots of $$$ to get any case before a Federal Judge....the plantiff has to provide the upfront cash..and the firm doing it has to have a reasonable belief they can win the case. Otherwise..their cash is gone. Yes, Growlife has to spend $$ to defend any suit also..but only if it is filed and a judge finds there is sufficent evidence to proceed to court. Has anyone seen and attemptes by the lawyers to move on to proceedings? I have not...investigations cost $$$ too. If they have something...one would think they would be filing charges asap. If not, the lawyers for PHOT will move for summary judgment and get the case thrown out. IF one goes, they likely all fall apart. Keep your eyes peeled for info. Even the suits don't want to throw their money down a dry hole! Keep searching and post when you know anything please. Still long...and paying attention every day.
No one would disagree that Sterling and ex selling at the "most opportune time" was pretty stupid. I have to wonder if they HAD NOT sold..if PHOT would have been suspended for the reporting errors alone. As someone pointed out, there has to be INTENT to decieve in order to prove fraud. As of yet, no agency has come forth with any indictments of PHOT execs. Yes, there are those of us who are long....(some really hung out on pps) but are hanging our collective hats on the new group. I may be an idiot, but why would someone with Hegy's pedigree soil his rep with a soon to be defunct company. His resume does not read like a man who has failed his way to the top. Does he need the $$$....I doubt it. But if some want to believe this a scam through and through....that is exactly what they will believe. Back to the pinks...only if the lawsuits go away and their reputation is revitilized by good solid business agreements and practices. Let us longs all hope that the boys are working hard every day for those of us who have an interest in PHOT...both financially and in what they do. Hopefully they will light up all our investment one day soon! GLTA.
Obviuosly the SEC had to suspend trading when they identified the people manipulating the stock....however, was it not possible to clear the company of any wrong doing...other than what was stated as "reporting errors?' (which has apparently been corrected) As stated, Sterling and ex selling near the top did not help did not help we shareholders......but his greed and obvious misjudgment should not take us down UNLESS they can prove he was in on the manipulation. Most of us read the indictment..there was no mention of criminal charges against Growlife/PHOT...I did read one article which said the company "was not involved in the manipulation." With that in mind...is suspension for reporting errors serious enough to take the company down. Is that considered fraud..? You experienced guy and ladies chime in! I am sure this is not your first rodeo...
Couldn't agree more Mr Beard. By "protecting" the investor from this pump scheme by 4 guys, they took an entire sector to its knees and left a bunch of folks holding 70 cent shares. IMO the class action suits will go away UNLESS they can prove a tie-in with the PHOT insiders and the manipulators. Sterling and ex selling a bunch of shares did not help. Not being an experienced trader, I was not savy enough to read the tea leaves of pump and dump. Many were and held on anyway. But I am in agreement with you sir....they did a ton of damage to the MJ sector by the stop trade. If they had stopped trading for the "manipulation: and left the stock on the pinks....we would all be in much better shape. Do they have more? Is there indictments coming against Scott and ex along the insider trading line or is it all a bunch of smoke?? I am smart enough to know what I DON'T know.....and I surely don't know what is happening here. Hopefully Marco will get the company clear of all the hurdles and push on to success. I read his plan.....looks great to me. All that is left is the execution and 211 and MM. Best of luck to all..
I am impressed by the well thought out post Hokus! Hegyi said they are going vertical with the company. Soil, nutrients, managment and as you said quality control...its not just putting a seed and soil under a halide light..then going back in a few weeks for the harvest. Growers require very specific formulations of chemicals and soil to produce the quality and variety of products. Bravo....I too (having known a grower) have an understanding of how difficult growing MJ is. There is a place in this market for Growlife...for sure. We all just hope they can shake the bad PR and move on to real business. Hegyi is far ahead of all of us in the marketing and sales opportunities available to the sector. The companies who stay ahead of the curve survive. At this point....are any of the MJ companies making $$?? Looks to be like the beginning of tech! Lots of smoke...fire came after millions were invested. Thanks for the post!
I took the time to read the full complaint filed by the SEC. The best news to come out of it was neither PHOT, HEMP, or any of the other companies were indicted along with these guys. Somoeone posted that the company "should have known" something was going on when they saw the price shoot up like it did. Sterling and wife sold....and that does not look good for the home team. But, he is gone and Marco is left to pick up the pieces....and from all apperances seems to be doing so. Another good point was made as to what the REAL value of the stock is. Right now it seems to be .07 or .08 cents. Is that in line with other companies with similar financials? I leave that opinion to you seasoned traders. Best of luck to all longs!
Some posters here look for the t**d in every diamond mine. No matter, this news is at the very least NOT negative for PHOT. Hegyi in his last release stated that he was working on the grey market issues and the legal situations. If this court filing does not directly tie-in any of the people at PHOT...they are clear of manipulation right? Sterlings and wife's sale does admittedly does not look good...but hey, at that price...many of US should/would have sold too!! We chose to hold...and got caught in the suspension. Who knew there was manipulation?? Hegyi says he has/is addressing the reporting issues with the SEC....wherther or not that will satisfy them and FINRA remains to be seen. One would think that with the indictment of these guys, there would certainly be some arm twisting (make a deal and tell me if anyone in these companies was in on the deal)...I am sure the investigation continues...but the stoppage of PHOT and HEMP brought the entire sector to its knees. I know, I know....financials....but we are still at the very beginning of what will become a monster business! Most of the companies in the MJ group are losing money right? With that in mind, only time will tell which ones will thrive and which ones will fail. I do have to wonder why they targeted PHOT and HEMP for manipulation. PHOT was the star of the sector....maybe? Yes, there could be a t^^d in the diamond mine.....I just hope it can be proven it came from somewhere else and not from one of the people associated with PHOT. If we start seeing the class action suits being dropped...(no merit) then we can all start looking up. Till then, we will endure the dogs sniffing out that t**d. GLTA
Looks like this would explain the outside manipulation stated in the originaly stoppage of trading. Wonder if this will solve the SEC/FINRA complaint against PHOT. I noticed there was no mention of charges against PHOT in the official court documents. To you experienced traders.....would this satisfy the Feds? If there is no ties between the company and the pumpers that can be verified...PHOT as a company should be cleared...or am I dreaming? Guess we will find out in the status of the current suits filed against PHOT. Anyone know anything about those?
Hey Ray for those less informed about these things....could you please explain the post. I think we all know about MM but you say your gut tells you something is up. Please enlighten us with your logic. Thanks in advance sir.
One thing is happening as I get older. I am finding out how much I don't know! Yes Sierra...maybe it will like the old tobacco warehouse sales from years ago...(still done is some places) where bidders look over the lot and decide what they will pay for it. Commodity is the correct word...i was searching for and not able to find at the time. That is it. PPS will be driven by the most original forward thinking companies. A Hegyi says we are building vertical. They are looking at this from every conceivable angle...not just the chemicals and soil...but the BUSINESS of growing and the economios of selling. I can assure you these guys are waaaayyyy ahead of me when it comes to a total visiion for this business. A myrid of angles....and a zillion opportunities to make new dollars. Good luck Seattle...we are all pulling for you.
If we all CONCEDE that PHOT never makes it off the greys....now what. I know conventional wisdom says the volume dries up and the pps goes to nothing. But let none of us forget this traditional wisdom is coming in the face of a non-traditional produce. Who would have ever thought we would be talking about trading a MJ company on the markets anyway??? If you had asked any of us a 2 years ago....we would have call you CRAZY. So...that being said...I have done enough research myself to see the writing on the wall for EVEN those stocks that make if OFF the greys and fail...but then again we are talking traditional oil and gas....bogus companies and pump and dump schemes. If this is truly a pump and dump....are all the rats off the boat yet? If not, please enlighten us on when THEY get out? And if PHOT stays right where it is....is there not a possibility that as the interest in the sector grows stronger the PPS could still go up as new investors find the sector and PHOT in general and like what they see? Maybe grey is the new PINK....at least as far as MJ companies are concerned. Certainly there are only a handful of the list that will make it....just like anything else....but PHOT was the leader of the pack....and if they can get clear of the lawsuits and satisfy FINRA....who know. For sure...not a single one of us..no matter how experienced you are. If there is one thing is life I have learned....there are few absolutes....very few. If you believe PHOT is one of them....you are etitled to your opinion...but remember that is based on a history of products that are traditional.....this is anything but. I am keeping an open mind....and support all those who are upside down here. For many...getting back to even would be good enough....being on the the greys makes no difference. Granted, things do not look great, but lets give these guys in Seattle til Christmas and see where we are? We have nothing to lose right? If the PPS hits the right spot...get out....or if you are really a gambler...buy more when the PPS goes down. Either way...my best to all of you. Win lose or draw..we love the concept and believe in what we are investing in.
There are a bunch of us who refuse to sell at a loss and would prefer to sit on the sidelines and watch the game. Some might say that all these moves are just the guys at the top trying to manipulate the price so THEY can get out. Really? I was a believer from the beginning and have weathered the storm so far. Those of us who have real skin in the game are always glad to hear good news....of any kind. Heygi seems to be making the effort necessary to get the company bsck on its feet and to become a market leader in the industry. Even Wagon...may be adding adding a few bucks to the pot (!) in the future. My best to all of you....especially those who are way long...like me. Thanks to all who help hold us together.
There are a bunch of us who refuse to sell at a loss and would prefer to sit on the sidelines and watch the game. Some might say that all these moves are just the guys at the top trying to manipulate the price so THEY can get out. Really? I was a believer from the beginning and have weathered the storm so far. Those of us who have real skin in the game are always glad to hear good news....of any kind. Heygi seems to be making the effort necessary to get the company bsck on its feet and to become a market leader in the industry. Even Wagon...may be adding adding a few bucks to the pot (!) in the future. My best to all of you....especially those who are way long...like me. Thanks to all who help hold us together.
Correct, CANX LLC is an ivestment group based in Vegas. CANN is traded. Honest mistake though. Have to admit first thing I did when CANX deal was announced (again) I started looking for their symbol on the market. Not there....
Considering the suspension of trading and all the negative publicity on this board and others, I can see where ANY investor would be holding tightly onto their wallet. But, for those of us who are sitting long at the present...we watch that ticker closely. So far we have not seen the .0001 as some have predicted. Having never been here before, it would only be pure speculation on my part but I would think it will take several months for this to start to shake out. If the company DOES bet back on the pinks....all bets are off. Most seem to think that will never happen. With CANX and the new managment team on the case who can say for sure. The lawyers have to be taken out first..wouldn't you think?
Should be very interesting to watch the pps and volume after the press release. Being long is tough...I think tougher is at what point any investor decides to exit. This week should prove very interesting as the market starts to see the article about CANX's deal. No doubt investors will be very cautious but is PHOT's new group attractive enough to pull our collective fat out of the fire. Long for sure.....but for how long?? Medi? Any comments?
I suppose you could pursue the lawyers in the class action and have them slam the door in your face....if they have a very strong case they would play hard ball for sure. Or, if the case is weak, they may want to negotiate a way out and everyone save the cost of litigation. Loser pays right? But both will have to put up significant $$$ to just get before a Judge. Lets face it, going to court is a risky proposition even if you are 100% right....you can still lose! Been there done that. So...maybe Marco and the new bunch ARE running head long down a one way street with CANX and their investors money with them....OR...with Heygi's connections in Seattle/MS...the green light may actually be back on. That would certainly surprise and shock some. Still longggggg.
Sure...you can find the complete article at TMCNET.com. This is a quote attibuted to Heygi. "except for resolving the class action and grey sheet matters, which we are pursuing, we've paid the price to take corrective action." And goes on to say they have cut expenses by 160K per month as of now. See if you think it is BS
6 mil.....most one day volume in more than a month!
So far kudos and nice call to Apostle and Medi! Thanks for helping us stay positive....really hard on this board some days. You guys have been very consistent. Thanks for all the info and encouragment. I am sure I speak for many.
I have been long since the beginning. CANX was there before, and if this turns out to be verifyable info...with our access to signed contracts and proof we are back in the green :)! Agreed, there is not a thing wrong with being optimistic.....I can find negatives about most anything. Guess the 64 thousand dollar question here is...should PHOT take off again....where is the exit point? Best of luck to all of you (us)! Watching with great interest and my $$.
In the last 2 days "someone" has bought almost 7 million shares of PHOT. Sterlings buy is small in comparison. I agree, if he IS the crook he is being painted as.....why not just walk away? Do we all think he REALLY needs the money....seriously? This entire situation is a good puzzle. Some say they KNOW what is ....going...to...happen..and maybe they are right on. But volume is going up! From some I read here, this stock is on life support...But as I said yesterday, SOMEONE buying a 10 and 10+.....are they simply uninformed investors....OR people who may have a greater insight into what is going on here? I will readily admit...I have no idea...and am as confused as most of you. The old line tracers are SURE.....but many are still holding or they would not be posting on this board. If you bought at 3.... selling at 10 makes great sense.....but the BUYER is coming up with his cash to take you out. THe possibility of achieving a gain on .10 is a crap shoot at best but some investors are betting 7 million shares at .10 that is going to happen. All explanations and predictions welcome. Is this the death spiral you guys have seen before? And if different...how so?
Thanks for your opinions. I understand that a MM would be putting a ton on the line for a "suspended" company. From my limited knowlege, I see the pps go down....and the volume go up! Like the man said...someone is selling..and someone is BUYING! While I am far from a super informed investor, we have to wonder WHO the buyers are at .10. From all the message boards and negative publicity...it seems buyers would be out of the question! 3+ million shares today at .10? What the heck is going on here. Experience talks and I think a lot of us on this board are ready to listen to you folks who know this market. Whats up here? Thanks in advance for helping us gain a greater understanding.
In reality how hard is it to find a MM??
Bought early but missed selling high! Can't cry about my own mistake. Sold at 9.5 and lost about 4k, but got back in at .17. Reacted waaayyy too much to the negative comments and did not follow my gut. That is to HOLD until I hit my price. Many who post here are old line traders who have been doing it for years...charts etc etc..and are probably right most of the time. This is an entirely new sector...maybe just maybe it won't play the way on the greys as others have. Many will say wishful thinking....but I know wish I had stayed the course with over a 100K shares. Now back in with 40K at .17 but will not sell until I get my price. Holding PHOT...as the man says, never gamble with money you can't afford to lose. Upside is huge....or I suppose we could lose it all. I say it will be smokin' again!