Here is my take on all this. Let me preface this statement by saying that I have been a staunch supporter of PHOT, so I am not bashing, just putting things into reality. First, the SEC is an inverted Judge, jury, and executioner. By inverted I mean, that they execute a company first, then go on to the judge and jury part. What does this mean? It means that it doesn't matter what the SEC finds in their investigation, the damage is done. Growlife, as a publicly traded company, was dead the minute the SEC suspended the stock. Period. Done. Now, the SEC investigation will determine if Growlife has ANY future. Growlife "may" go on to be a succesful company, but a PRIVATE company. Their public stock days are OVER. Satistically speaking, a suspended stock does NOT recover. I still believe that the company is a good company and the majority of the people in the company are good people, but it only takes one bad apple to ruin it, and unfortunately, we as investors take the brunt of the hit. And it is very likely that we may never even know what, if any, illegal activities are discovered by the SEC investigation. Growlife will be the ones to put out any of that information because the SEC will not. We will not hear another word from the SEC over this matter.
As for some comments I read about people that lost their life savings/college funds...No, I do not feel sorry for them. I know that sounds cold hearted, but...there is a very Darwinian aspect of the stock market in play here. If you are dumb enough to invest money that is earmarked for your future stability, then you deserve what you get. The stupid shall be punished. I would feel sorry for them if they were invested in Microsoft, Apple, etc, but this is a "PENNY STOCK ON THE OTC!! OTC stocks should be reserved for your play money. If it goes big, great, but if it flops, at least you are not losing your house/retirement etc.
As far as what will hapen next, well, that is a guessing game. It is highly likely with a good amount of certainty that this stock WILL TRADE when it opens up on the Grey Market. At a minimum, shorts will have to cover. Their will also be some, probably some on this board reading this, that will see this as a buying opportunity and buy. My reccomendations is to sell as soon as the market opens on the 25th, take your losses and move on. Along with that thought, you also need to talk to your broker to see what you need to do to sell this on the Grey Market. You don't want to wait till 9:31 AM on the 25th to figure that out.
So the silver lining here is this:
LEARN FROM THIS EXPERIENCE
1. Take profits along the way. I have been in this since .05 and I have taken my profits. So even if I lose all $20,000 that I had in this before the suspension, I have already taken $20,000 out. I have already bought a truck, and paid off my bills.
2. Don't invest money you can't afford to lose. I looked at this like going to the casino. And I lived by the same set of rules that I use at the blackjack table.
3. ANY STOCK can fail. If you are not willing to take a risk, then bury your money in the backyard.
It's been a fun ride, but unfortunately, we are at the train station, and it is time to get off. This is my last broadcast. Goodbye all, and God bless America.
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