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Intel

04/10/14 11:17 AM

#76536 RE: MonestHind #76529

Not really, he sold the businesses to phot for mostly shares so... he kinda got screwed too.

"The closing terms involved consideration of $1,625,000 to the owners of RMH/EGC including Rob Hunt, who will continue on as an integral member of GrowLife as an officer and member of the Board of Directors. As the pre-closing majority owner of RMH/EGC, Rob Hunt will receive the majority of the stock, note and cash consideration and will be well vested in GrowLife’s future successes.
The consideration shall be allocated in the form of 7,857,143 shares of GrowLife common stock, $800,000 in convertible notes that can be redeemed by the company or converted by the holders to common stock in GrowLife at $0.035/share within the next two years and a one-time payment of $550,000 in cash."
http://growlifeinc.com/growlife-announces-acquisition-of-rocky-mountain-hydroponics-evergreen-garden-center-and-58hydro-com/