Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Next stop 0.02 cents. Big news coming.
GrowLife Strengthens Its Financial Position
Company announces new financing and acquisition intent in California
May 05, 2016 05:22 PM Eastern Daylight Time
SEATTLE--(BUSINESS WIRE)--GrowLife, Inc. (OTCBB: PHOT), one of the nation’s most recognized indoor cultivation service providers, today announced its intent to acquire Go Green Hydroponics, a Southern California hydroponic retailer, and new funding with investment firms to expand and better manage its financial needs.
“The 15c2-11 approval in mid-February has given GrowLife the ability to negotiate more flexible financing terms for expansion, working capital and efficiently reduce its debt, thus improving the Company’s financial position and opportunity to grow once again”
Tweet this
“The 15c2-11 approval in mid-February has given GrowLife the ability to negotiate more flexible financing terms for expansion, working capital and efficiently reduce its debt, thus improving the Company’s financial position and opportunity to grow once again,” stated Marco Hegyi, GrowLife President and CEO. Mr. Hegyi continued, “The financing includes a new investment firm, Chicago Venture Partners, and has instilled greater confidence in GrowLife from the Company’s senior secured lender, TCA Global Credit Fund, so as to remove the default overhang with forbearance and enabling GrowLife to better service and retire its credit debt over time.”
GrowLife also announced a non-binding letter of intent to acquire Go Green Hydroponics, a California hydroponics supply retailer, which has established a respected reputation among its customers over its seven-year history. Mr. Hegyi explained, “It is exciting to finally start the acquisition expansion process. Go Green’s 2015 revenue, combined with GrowLife’s 2015 sales, would double our 2015 revenue. However, it is the return to California with a strong and successful retail operation that provides GrowLife the strategic presence in a market, which can surpass the legalization of Colorado in 2014, that is most exciting.” There is no guarantee that the Company will close the acquisition of Go Green.
For more information about GrowLife, please visit: www.growlifeinc.com. Additional commentary on the Company as well as the industry is also provided on Mr. Hegyi’s blog. Specific financials and corporate actions on GrowLife (OTCBB: PHOT) can be found in the filings at the SEC website.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to best serve more cultivators in the design, build-out and expansion of their facilities with products of high quality, exceptional value and competitive price. Through a nationwide network of local representatives, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media (farming soil), industry-leading hydroponics equipment, plant nutrients, and thousands more products to specialty grow operations in 17 states. GrowLife is headquartered in Seattle, WA, and was founded in 2012.
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.
Contacts
Those two are passive aggressive bashers. There like two old ladies nothing else going in their lives - pathetic
Agreed What a great opportunity to add shares
NEWS!
Sept. 14, 2015 6:58 a.m. ET
The Morning Risk Report: Big Banks Not Ready for Marijuana Business
By BEN DIPIETRO
The Senate Appropriations Committee earlier this summer passed legislation allowing banks to provide financial services to marijuana dispensaries in states where the federally prohibited drug is legal, but it’s very unlikely any major bank will take on such business until the government changes the classification of marijuana as a Schedule 1 drug, said one executive of a marijuana-based business. As a Schedule 1 drug, marijuana is in the same category as heroin, LSD and ecstasy.
Even reducing it to a Schedule 2 drug–putting it on par with oxycodone and other opiate-based painkillers–would provide some leeway for big banks to feel more comfortable about getting involved, said Steve Gormley, chief business development officer for OSL Holdings, which operates a number of marijuana industry-related businesses. Rescheduling marijuana would allow banks to “more safely approach the issue of money and more safely be able to invest directly,” he said. “At that point they won’t be dealing with Schedule 1 and the array of legal complexities and prosecutorial realities that come with that.” Mr. Gormley said he thinks it’s unlikely President Obama will decriminalize marijuana but thinks there’s a chance he may allow it to be rescheduled or that Congress will pass legislation, as Sen. Rand Paul (R-Ky.) has been pushing for such a reclassification. More realistically, he said it will take two to five years to get marijuana reclassified, and longer to remove the federal prohibition, even though four states and the District of Columbia have legalized its use recreationally and 23 states permit medical marijuana.
In the meantime, the risks of investing in marijuana-related business remain, but for those who can handle that risk the opportunities are similar to the ones seen in the years just before alcohol was made legal again after Prohibition, said Mr. Gormley. “The investment is for somebody who is visionary, has financial chops and the ego to be a pioneer in the space,” he said. In the meantime, he said medical marijuana companies need to work with doctors to track the payment process from the time growers sell pot to dispensaries to the time when doctors issue prescriptions to patients. On the recreational side, the focus needs to be on managing cash issues and working with those financial institutions–mostly credit unions–willing to take on pot-based businesses as clients.
I think we see .05 cents this time
Because they decided against it in March.
R/S is not going to happen. Heeeee hawwwww
Mobile-friendly - #nyse #stocks #stockmarket #business #oslh OSL Holdings (OSLH) will be bought by Pfizer this week! Invest in that ... #nyse #stockmarket #business # stocks Buy OSL Holdings (OSLH) stock ASAP!
What do we think gents?
They will not do a R/S.....they already stated they were not going to do one. What they do need is a buy back, rebranding, and some good news.... Like buying another hydro store. Something. I feel good news is close. Good luck.
It's very simple they got in a billion dollars Industry a little over a year ago. They bought a hydroponic store(Witch i visit ) it's got real revenue. They had to borrow money to stay in business. And their statement are doing everything they stated they would do. I don't agree with the toxic dept but they did what they had to do to survive. The guys that come on this message board dat to day bashing are just daytraders. This will pass and we will go much higher. It take time to build a great company. Remember they are in a billion dollar industry which is just getting started just like the dot com era. Just my two cents
Another bitter investor Let me clarify for you they been in the medical marijuana business for a little over a year that is what I mean by start up. They have huge opportunity t to rise to be an empire. They are in $1 billion industrY you're just another bitter daytrader trying to do flips
Why so bitter? Then just take the loss and move on if management is so bad. You sound like a little girl.
Dude you sound like a broken record. Just take the loss and move on. So annoying.
link ? Not true.
Dude, you need to get some sun.......jezzzzzz.
I believe each report since they acquire Go Green hydroponic- is going to get better then there last. It's common sense
Very exciting article.
I do not. But I've been investing in pot stocks for 3 years now. And I've been burned. I've been investing in OSLH over a year. Yes they made some mistakes but looking what they are doing and one of a few that report to the sec. They also acquired Go Green hydroponic which I visited. They are making real revenues. I really believe we will be rewarded in time If you say it's true that your long-term investor then hold on Don't know if the dilution is done it sure looks like it Good luck.
Nothing but doom and gloom on this board.....
Also A lot of speculation and guessing. You bye- you hold. I visited Go Green hydroponic yesterday. what a great store what a great location those guys are killing it. The shelves were stocked with merchandise with an intelligent staff to help - OSLH IS GOING TO KIIL IT in THIS SPACE. HOLD TIGHT AND STOP crying like little girls. I asked the staff what they thought about the take over from OS L and how is the change been for them. They had nothing but positive things to say about Osl.
Are you long? Or are you a passive aggressive basher? If you are long -you are really annoying -stop crying like a little girl.
Why so bitter? OSL will succeed with out SC. She is a very VERY small part of the puzzle. You need to come up with some better bashing- you sound stupid. Osl is not a scam. just do your DD.
Why all the doom and gloom? Everyone's looking for an update I don't get it ? They just did ? A year ago this company was a start up company that switched over to the cannabis business. In a year they acquired Go Green hydroponic ( that has real revenue think I did 4 million last year is it ?)- Did JV with Cheryl Shuman one of the most recognized names in the industry. And they just raised $3 million So stop with the doom and gloom- this company is doing great buy and hold you will be rewarded. So stop with the doom and gloom and you will be rewarded. Except to the daytraders who spend their life on this board trying to be right and trying to to guess. But and hold.
Not going to happen. Let's revisit this conversation in two weeks and we will see a pompous You sound.
Smart man We are going not just bounce we will bounce so hard it will take us to .05
The truth of the matter is we had a great article today in Forbes Second thing: all I hear is a lot of doom and gloom about the CD...... Everyone is guessing. no one knows what they will do with the Cd..... Management is not going to let the CD kill the stock price. I think big news will come and you will it even notice when it's being reverted. Watch and learn. OSLH management is too smart.
IThanks for the play by play--- that's very profound info we need to hear we really could not see it is down.......you are what I call a passive aggressive BASHER.
lol.....why so bitter? your one of those guys who like to blow smoke up their own a$$$..... go take a walk.. don't need your play by play good luck......thanks for posting your GREATNESS.....jezzzzz. soooo pompous...
Told you go take a walk and get some air.
Your theory with cd is wrong. Management Is Too smart. Good stuff is happening = stock goes higher.
I think we get there sooner then later. GL.
OSLH Will explode. Hold tight.
I agree hundred percent. And all their press releases there's no fluff it's all real stuff = go green =real revenues - also building a strong team - only the beginning -build it nice and slowly. This company is legit. I did some DD stev gormley and Bob Rothenberg Check out their LinkedIn resumes. Very impressive.
OSL HOLDINGS INC (NASDAQ:OSL. strong uptrend is in place and that the market remains positive longer term. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
The Trade Triangle are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows
e long term trend has been UP since Apr 15th, 2015 at 0.025900
intermediate term up The intermediate term trend has been UP since Mar 31st, 2015 at 0.003200
short term up The short term trend has been UP since May 20th, 2015 at 0.014000
OSLH
Based on a pre-defined weighted trend formula for chart analysis, OSLH scored +100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).
+100= STRONG BUY