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It is obvious to me that this company is in financial turmoil and it needs money to cover the lawsuits and/or the corruption that was done by the previous management. I think I have an idea how we can make this company survive and later flourish.
If each of the current investors in PHOT were to buy $1000 worth of shares, I think you could cover the $700K in legal expenses and definitely cover some operating costs for a while. A $1000 is not that much when you really look at it. Ok... maybe to some it is. That is reasonable. To others it is not.
I would be willing to put up another $1000 if everyone else here would do the same. The shares are already diluted. What is a little more. We need this company to stay afloat.
Of course, we also need Mr. Hegyi to buy more than a $1000 to show he has confidence in the company. I think he should put at least $100,000. It will take management and the investors to keep this company alive.
Does anyone else have any ideas of how we can improve this situation? I am all ears and not unwilling to listen to those that have more financial knowledge than I. Remember November 6th, 2016 is just months away. Maybe it will take approximately 5 years of us to see a good return on this investment.
Just looking for answers.
That was me that said, "It is all gambling." And that is true!
I am in the same boat as you. I bought a heavy amount a few years ago and then the scandal surfaced. I got killed value wise, but not cash wise, as I never sold. I am down a lot of money (value) and could have sold recently, when FINRA brought PHOT out of the "grey sheets" and onto trading again (OTC), to make a little bit of profit, but I believe in the company and Hegyi.
This industry is still young and growing. When Apple and Microsoft were up and coming they went through the same growing pains. People that saw what the future was going to lead to became rich. That future became the computer age. Now we have handheld devices called smart phones. If I had a developed mind back then I would have also been rich.
The future of the marijuana industry is that it is here to stay. Eventually, it will be legalized recreationally in this country. Those that see that will capitalize on a very lucrative investment. Those that do not.... will miss a golden opportunity.
GOOD LUCK TO ALL WHO INVESTORS IN PHOT!!!!!
That is an outstanding suggestion!!!!! What a brilliant idea!!!!! I wish I had thought of that!!!!! GO PHOT GO!!!!! GO, GO, GO!!!!!!
Look.... I agree this stock is risky, but look what happened to it. We had a bunch of greedy idiots running the company before. Now the company has to get back on their feet again because the company was run into the ground by those greedy idiots.
Do you honestly think this is going to happen over night???? No it is not. If I am wrong then I am wrong. I can accept that. It takes time to rebuild a company. I am hoping like many other investors they will be able to recover. Ford Motor Company recovered and so did Fannie Mae, even though Fannie Mae is not where it used to be. These are examples of companies in serious trouble, but they found their way back, even though they had help from the American tax payers. And maybe I should not compare them to PHOT because this stock, as well as, the industry is new with few legal controls on the books.
All I am saying is be patient. If you do not believe in the company, by all means.... get out. And if I am wrong then you were right all along. The stock market is nothing but a legalized version of Las Vegas. However you look at it, it is nothing but gambling. Some people win and some people lose. That is the nature of the game. Whatever happens, I wish you good luck.
Yes..... It is going to be on November 6th, 2016. That is when it will be placed on the ballot for the people to vote for the recreational legalization in the State of California. This state has a lot of influence throughout the United States, especially Los Angeles County.
You are going to see PHOT go up, up, up!!!!!!!! I believe this time it is going to pass with the people. Then it will go to the state legislature for their vote. I also think that will pass. You are going to be many states legalize marijuana. It is a matter of time. Go PHOT.... GO, GO, GO!!!!!!!!!!!!!
I also don't think the company would have been ABLE to bring the itself back with fraudulent information or information that was not transparent.
FINRA requires the company to go through certain steps, as with all companies that are "benched" and/or placed on the "grey sheets", in order to be able to go back to the OTC.
The "benching" of PHOT in the first place was because of fraudulent information given to the investors by the former management, which is what led to the scandal and ultimately the lawsuits.
I am by no means an investment expert, but logically speaking it is very unlikely that with all this scrutiny the company is now under that it would have ever been able to come back with more fraudulent information being given to the investors and FINRA for that matter.
I agree PHOT is a very big gamble as with any penny stock, but don't you think that it was a "one in a million shot" that PHOT came back to trade once again on the OTC??? It is my understanding this is very seldom achieved.
Let's face it. PHOT has a lot of bills to pay for the mess that was created by its former management, which is now gone. Hegyi is now restructuring the company, including personnel and assets. This will take time for this implementation to see results and/or profitability.
I hope that in the fastest time possible this company will start seeing results and then flourish into a highly profitable one. Remember Nov. 6th is approximately 7.5 months away. That is a major target date for the people of the State of California to vote on the recreational legalization.
GO PHOT!!!!! GO, GO, GO!!!!!!!!!
Hello "LoveAndLight",
I agree with you!! I have been a heavy investor for over 2 years and have seen this company through the worst storm ("GREY SHEETS") imaginable, only to emerge recently by the hard work of Marco Hegyi.
I definitely think this stock will go to $1.00 easy like it did a few years ago (March 2011 @ $.91). My dream is $1.50. My fantasy is $2.00. I think this stock is also a long term company. I believe by the year 2020 it will be at least $10 per share. I am in it for the long hall. The year 2020 is only 3.5 years away.
Good luck to you also. May we retire RICH, RICH, RICH!!!!!!!
"WALL$STREET$INVESTOR"
I agree. This was a fair article. I am keeping the faith that PHOT ("GROWLIFE, INC.") will prove to be a hot stock in the near future!!!
Thank for this good information. I cannot argue with facts. Bottom line is they need capital and time to make this company profitable again. They have reduced costs by making operations more efficient, which is a step in the right direction.
MARIJUANA INDUSTRY MAY HIT $44 BILLION BY THE YEAR 2020!!!
Here is something from another MM post with another / different MM stock symbol I found. This is some encouraging news for the entire industry.
"Marijuana economy may hit $44 billion by 2020.
http://finance.yahoo.com/news/marijuana-economy-will-hit-44-billion-impact-by-2020-133004729.html
The weed business is booming.
In its annual report on the U.S. cannabis industry, Marijuana Business Daily predicts up to $44 billion in economic impact by 2020. To put that into some corporate context: it's roughly equivalent to the current market cap of Netflix (NFLX) or Caterpillar (CAT). Last year's report predicted $14 billion to $17 billion in impact for 2016. The publication has been producing the report since 2012.
The impact figure is separate from sales of marijuana; it represents sales plus all the money pumped into the economy as a direct result of sales. It encompasses everything from wholesale growers to grow-light manufacturers to marijuana accoutrements and everything below it touched by the trickle-down effect of marijuana money. It even extends to home purchases in places like Colorado, which has attracted new residents since legalizing recreational use.
The marijuana mag assigned the marijuana economy an economic multiplier of 4—that means every dollar spent on marijuana leads to another $3 working its way into the economy.
"We've been expecting rapid growth in the marijuana industry for a while now, and that's exactly what's playing out," says MBD managing editor Chris Walsh. "The main drivers of the growth in recreational sales are Colorado, Washington and Oregon. And also, interestingly, even the mature medical marijuana markets are growing very quickly, like Arizona, New Mexico, and states that have had medical programs for years now. And then you have new medical marijuana states like Illinois, Nevada and Massachusetts." In other words, there's marijuana momentum almost everywhere.
As for actual sales of marijuana, that figure is estimated at $3.5 billion to $4.3 billion for this year in just states that have legalized medical and recreational use. That's up from $3 billion to $3.4 billion last year, and in 2014 it was $2 billion to $2.4 billion. The overall sales market for marijuana each year in all states (not just where legalized), in case you wondered: "Between $30 and $45 billion in the U.S., and that includes the black market," Walsh says. For just legal sales, MBD projects $6 billion to $11 billion by 2020.
Of course, the cannabis revolution could be heavily affected by a change in political regime—and federal law still prohibits marijuana, which has made it extremely difficult for marijuana businesses to get bank accounts. But Walsh bets that there's too much momentum now for any one politician to slow it down. "You might get an anti-cannabis president in January, but even then, it's hard to see this going in the opposite direction," he says. "The genie's out of the bottle, half the country has legalized medical marijuana and an increasing number of states are legalizing recreational. Anyone who tries to stand in its way is going to have a hard time."
I hope this information helps everyone out there. PHOT is worth a long term investment well into the year 2020. We are in 2016. The year 2020 is less than 3 years from now. That is a "drop in the bucket" in terms of time.
I read your post. I guess I am sort of confused. If this is true, how was Hegyi able to get PHOT off the grey sheets and trading again? Is not this type of information required to be given to FINRA prior to reinstatement? Just trying to understand this.... Any thoughts???
My sentiments exactly. Nothing worthwhile came in a day. It will take time to rebuild a company that has been destroyed by the previous regime. I am in it for the "long haul"!!!! GO TEAM PHOT!!!! GO, GO, GO!!!!!!!!
I do not believe they are going to face stiff competition. From who? There is no one out there that I know of that has this corner of the industry. They are the only ones that supply the equipment for the cultivation of the product.
I also do not think they are going to expand yet. They need to take of the stores they already have and get them out of debt and make them profitable. This is a process. Hegyi took on some tough problems, but the fact he got it back on the OTC is a great start and a large step forward. He might have to close some stores and consolidate, but that is how business works. Remember, a lot can happen in 8 months. The target date is November 6, 2016, when it goes on the California ballot initiative for the people to vote on. If it passes the next step will be the state legislature.
I have been an investor for over 2 years and I will still continue to wait for a turnaround. I am very lose to the break even point now. I think we have a good start because the new management (Hegyi and his team) are fighting to survive and make a "go" of it. It could have easily closed down the entire company and everyone would have lost their entire investment, but no.... Someone seems to think this can be saved. I do too, but I am just a novice investor who has not seen the books of the company.
I agree with you. Marijuana is here to stay and PHOT is here to stay. I have never heard of a stock coming back from the "grey sheets". That is a miracle and Hegyi pulled it off.
The first target date is November 6, 2016, when the people of California will vote whether or not to legalize the usage of Marijuana for recreational purposes. I believe it will past this time as opposed to last time, where it failed by a small margin. More and more states are jumping on the "band wagon" because it is an excellent source of tax revenue.
The next step will be the state legislature to vote on it. I also believe it will pass. This company is the only one that I know of that supplies the equipment to grow the product. Step by step Hegyi is rebuilding a company that was destroyed by a few greedy individuals. THIS COMPANY IS HERE TO STAY AND GROW INTO SOMETHING BIG!!!!! WE NEED TO BE PATIENT. A LOT CAN HAPPEN IN 8 MONTHS!!!!
Well, I have to admit this company is fighting to stay in the game and appears to be determined to put behind the bad problems of corporate corruption within its walls in the very recent past. I think it has done remarkably well just to hang in there. Settling lawsuits and paying the victims out is the first step. The second step is to "clean house". Third, to focus on "people, product and process", the mantra by Marcus Lemonis. I wonder if he would be willing to help fix this company. My opinion also.
I have been an investor in this stock for a long time and have been holding out because I also think this is a winner. It is the only one of its kind in the industry.
All I can say is the clock is ticking and if it goes up to 10 cents, I would certainly be a happy winner. I have a lot of money riding on this one. If I lost it tomorrow, I will go back to the old drawing board. And of course it is a high risk stock. I am just looking for information. There is not a lot of credible information out there. That in itself could be a blessing disguise. Let's hope this stock turns around and makes a comeback!!
Ok.... Can anyone tell me if this stock is off the "GREY SHEETS" yet? If not, when is the target date for PHOT to be trading again? I understand that FINRA is the entity that will make the decision to take it off the "grey sheets" , but we need a target date or at least an approximation. One must remember for this stock to become viable must be done way before November of 2016 because that is when it will be placed on the ballot in California for the "people" to vote on whether marijuana should be legal in this state. Can anyone with some knowledge on the subject answer this question without all the hype? We are talking about (8) months on the clock remaining!!!!
Ok... So I read the article and it seems optimistic for the industry and maybe the company (PHOT) unless it gets bought out by this company the equity firm Privateer Holdings. Then what what will happens to those investors of PHOT? Most likely they will be wiped out unless the there is an arrangement / contract not to shut out existing investors of PHOT. Does anyone have an informed opinion???
Ok. I tried to locate it but could not find it. I assume it is last Sept. 2014 and not Sept. of 2015. Right? Can you please summarize what the article stated??
What did it say?? I tried to find it, but no dice...
Hopefully, after the lawsuit and/or lawsuits are finally settled and monies are paid out to investors, the company can focus on operations and making money. With that focus, maybe PHOT will get off the grey sheets and on to trading again with a rise in the stock price. I would like to see this company flourish in an industry that is going to become very big in the near future. In November of 2016, the people in California are going to vote on whether they want this drug to be legalized in this state. Since no other company has tapped into PHOT's niche, maybe this company has a chance in making some money for current investors and becoming a leader in the industry. Does anyone have some thoughts on the current management team that is now in place or on the future of this company?
So I take it this company has a shot at being off suspension again. Right??
Isn't that how we got in this mess in the first place?? From the corrupt company officers??
Have the company officers been replace??
Have the new company officers, started to aggressively work towards getting the company off suspension and making it profitable for investors??
Where can I find financial information on PHOT?? There is very little out there.
Does anyone think this company will trade again in August? I here from people on this site that their suspension will be up for review in sometime in August. Does this company have a shot of being solvent or we just waiting for the PHOT to die? I guess I am trying to figure out why this stock is still alive. The longer it stays alive, doesn't that mean if we have a shot because it refuses to go??
There is a Bill coming in November 2016, in California for the people in that state to vote on whether they want marijuana to be legal for recreational use. It is already legal for medical use. If the people vote yes, then the state legislature in California will put forth a Bill to formally legalize it in California. Colorado legalized it approximately 18 months ago for recreational use. I guess you could say it is speculation because the Bill is not here yet in California. It has been well publicized. Speculation: I believe that eventually (5 to 10 years) marijuana will be legal in this country for recreational use because of the taxation factor that all governments will partake in. It is all about money, even in government.
How do you feel about HEMP, which is trading at .01 cents??
Do you think that as long as these penny stock are able stay (survive) on the OTC market, until the Bill comes out in November of 2016 for the people to decide whether they want marijuana to be legalized, they will be worth some money??
Is there any financial news on this stock?? It just fell like a rock about .20 cents today. Why did it do that???
I would like to know that also because I bought the stock after April 9th of 2014. Can anyone help with this information, attorney firms, etc.??
I bought my shares on the following dates: 12/04/2014, 10/10/2014, 07/14/2014, 07/15/2014. Do I fall within the terms of being able to be a part of that lawsuit and/or claim based on when I purchased my shares?
Ok... Who do I file with? What legal firm is handling the case against PHOT?? Can anyone give me a an attorney name and phone number?
Ok. Can you tell me which ones are not scams? Or are there any that are not scams?
Thank you. I read the article. Looks like it is going to die a slow death and I will lose a lot of money, but that is the game. How do you feel about other stocks in the marijuana sector? I am currently looking a GRNH, CANV, LQMT, CBIS, MJNA to name a few. I really see that this industry is going to take off. The problem is finding the right stock to invest in without losing your shirt. What do you think?? Or anyone for that matter??
There are many people that have a heavy stake this stock, including me. When will the stock be traded again OTC? Does anyone know? I heard it was either May or June when it would be traded again because of the investigation. It will be completed by then. I have not heard anything more about it. It was supposed to be completed by June. I also heard that there a company in Canada that wants to buy this company. I imagine that Canadian company will only be able to that when the SEC has unfrozen the stock and it put back on the OTC market to be treaded again. Here is another thing. In November of 2016, the marijuana initiative will go on the ballot for California. That's CALIFORNIA folks!! If this company should recover and stay on the OTC market, it may be a blockbuster because of the controversy and the investigation. This is technically the best time to buy?? Buy low amidst controversy and sell high. So again does anyone know when it will go back on the OTC?? Also, what other stocks in this area are good??? This marijuana field is going to explode. Look at Colorado and Washington, when they legalized it in those states for recreational use and what it did for some of those other marijuana stocks including PHOT. PHOT needs to clean up its act before it can do that and the people that run it need to make that happen.
Can anyone tell me what is going on with this stock? I understand that the stock and/or symbol has been suspended from trading over the counter, pending an investigation by I guess the SEC for possible fraud. I heard that it was supposed to go back on the OTC market once it was completed. When is the stock supposed to go back on the OTC market? Or is it going back on the OTC?