GrowLife Inc (PHOT)

[PRmaniac]

8K just out - more toxic convertibles

and PHOT has to hold, in reserve, 100,000,000 shares to allow for conversion. They don't have that many authorized left to issue.

Will they raise the share auth or do a reverse split? Either way, the bottom is far from being in on this one, IMO.

I played this one a long time ago and did very well, but sure wouldn't touch this dilution nightmare now.

The Company agreed to reserve three times the number of shares based on the redemption value with a minimum of
100,000,000 shares of its common stock for issuance upon conversion of the Note, if that occurs in the future.

The note is secured by ALL of the company's assets....ouch

The 8K also notes that the company offices have moved.