Replies to post #47632 on GrowLife Inc (PHOT)

[letzgetrich]

globaldata77, your are spot on

I agree that the desire for the increase in the A/S was before they had this kind of liquidity.

Not necessary now.

All your points are good.

We'll see if the mgmnt cares about joe blow in a few weeks.

[rcaptain]

Okay maybe I'm wrong so please excuse my ignorance.

I don't think 2B additional shares is required to meet the CANEX obligation. I think it's more like 240m shares.
The extra raised shares don't have to be issued as warrants or stock to CANEX for .033. They can be issued at a higher strike price. Correct?


In accordance with the Agreement, the Company and CANX entered into a Warrant Agreement whereby the Company delivered CANX 140,000,000 freely transferable, unrestricted warrants to purchase 140,000,000 shares of the Company's common stock, at a maximum strike price of $0.033 per share, par value $0.0001 per share.


Subject to the terms of the Agreement, the Company may issue an additional 100,000,000 freely transferable, unrestricted warrants to purchase 100,000,000 shares of the Company's common stock, par value $0.0001 per share, at a maximum strike price of $0.033 per share and twenty (20) blocks of warrants in the Company, with each block consisting of 10,000,000 freely transferable, unrestricted warrants to purchase 10,000,000 shares of the Company's common stock, at a maximum strike price of $0.033 per share, par value $0.0001.