GrowLife Inc (PHOT)

[PRmaniac]

Not paying off debt - more like defaulting on debt, not paying lease payments, and issuing $2 million-worth of new dilutive FONU shares.

They had to come up with $2 million in PHOT shares and $700K cash to settle the management misleading of investors/fraud lawsuit, rather than face even more damages and exposing management to even more SEC scrutiny.

Still not clear how the SEC investigation is progressing.