PHOT was suspended because the SEC determined that the company was releasing inaccurate and inadequate information to the public and then selling vast amounts of shares on that false information which is fraud. Whenever the SEC litigates against the company the SEC's allegations will be very specific. Until all persons can read the SEC's specific allegations all conjectures about PHOT's alleged violations are guesses.
When the SEC initiates Litigation against Growlife and complicit principals the filings will be posted on this link:
After the ten day trading Suspension the stock was reinstated for trading on the Grey Market where the stock will remain until the SEC Litigation has been completed. PHOT is no longer suspended but no Market Maker or Broker will provide quotations as directed by the SEC, ergo, the Grey Market.
Excerpts from the April 4,2014 SEC ten day Suspension Order:
The Commission temporarily suspended trading in the securities of PHOT because of questions that have been raised about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in PHOT’s common stock.
The Commission acknowledges FINRA’s assistance in this matter
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered....
Note, that the SEC had numerous issues on December 23,2014, yet PHOT continued to release inaccurate and inadequate information to the public whereby the SEC Suspended the stock on April 4,2014
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