I just see a good stock under considerable pressure and have to ask "why?".
I get it... I understand the capital/debt structure of the company quite well and I'm not bashing them for increasing the A/S. They're short and cash and want to have the increased liquidity that 3 Billion shares offer...unfortunately, too many times in these penny stocks the MGMNT teams of other companies have used the increases A/S to enter into very toxic debt arrangements.
1 bad apple ruins the bunch...so bad apples before PHOT have used increased A/S to destroy shareholders and THATS what I think is causing the pressure on PHOT... I think that smart money would exit here and then wait and see what kind of debt/equity financing the company starts to enter into. If it's toxic with very dilutive terms then they'll punish the stock...if their debt/equity financing plans are with reasonable terms they'll see management is straight and they'll come back in... Until then, it appears they'll exit