Wednesday, August 14, 2013 10:38:50 AM
For example, the $177,976 spent on new business development, which included $71,000 in non-cash stock issuance. These funds were used to create the company’s Cannabis.org portal, setup GrowLife Productions Inc., and contribute to two joint ventures, including the one with STVB. These efforts could pay big dividends down the road by expanding awareness of its products and/or opening up new high margin revenue streams."
http://secfilings.com/News.aspx?title=growlife_%28phot%29_revenues_jump_319%_amid_ongoing_expansion&naid=506
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