Agreed. Fears of dilution have been realized. Only silver linings I found were the following:
1. "Website production expense was $22,742 during the three months ended March 31, 2013. Almost all of this was in relation to a major overhaul of the Phototron, Inc. website, which the Company hopes to have online during the second quarter of 2013. The website will be substantially all new in terms of graphics/design and will have a significantly improved, and more efficient, online ordering system." --> About time this website was overhauled.
2. "During the three months ended March 31, 2013, the Company incurred expenses of $34,010 and $21,667 with relation to GrowLife Productions, Inc. and Cannabis.org, respectively. Neither of these ventures were in development during the first quarter of 2012, and therefore no similar expense was incurred during the first quarter of 2012." --> Hopefully Cannabis.org will be unveiled soon.
Not pleased right now.
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