{"id":1166,"date":"2013-04-08T15:12:43","date_gmt":"2013-04-08T15:12:43","guid":{"rendered":"\/?p=1166"},"modified":"2013-04-08T15:12:47","modified_gmt":"2013-04-08T15:12:47","slug":"growlife-inc-otcphot-loses-momentum","status":"publish","type":"post","link":"\/articles\/growlife-inc-otcphot-loses-momentum\/","title":{"rendered":"Growlife Inc. (OTC:PHOT) Loses Momentum"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/PHOTchart.png\" border=\"0\" alt=\"PHOTchart.png\" title=\"PHOTchart.png\" width=\"450\" height=\"201\" \/>After the promising spike of more than 29%  Growlife Inc. (OTC:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PHOT\">PHOT<\/a>) seem to have lost some steam during the last 3 trading session. On Friday they dropped 6% to close at 0.053. <\/p>\n<div>Many companies decide to repair their shaky financials by switching to the newly legalized marijuana sector. Even the mere announcement of joining it can secure a new influx of funds as investors are eager to jump in. Will <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PHOT\">PHOT<\/a> disprove our initial suspicions and stay for the long run? We are eagerly awating the answer.<\/div>\n<div>For now, taking a look at their 10-K report, they seem to be in quite a good shape, for a penny company that is:&nbsp;<\/div>\n<div>\n<ul>\n<li>$36,602 cash<\/li>\n<li>$1.2 million total assets<\/li>\n<li>$1.6 million total liabilities, of which 1 million convertible note<\/li>\n<li>$1.4 million revenues<\/li>\n<li>$2.1 million net loss<\/li>\n<\/ul><\/div>\n<div>Many investors were encouraged by the respectable revenues and manageable losses and on April 2 more than 18 million shares were traded. Now things have calmed down a bit with the price fluctuating around 0.056 and traded volume of around 6.5 million.<\/div>\n<div>In contrast to their stock, the company itself hasn&#8217;t let up one bit as it continued to reveal one big news release after the other. They signed a letter of intent to acquire Rocky Mountain Hydroponics, LLC., Evergreen Garden Center, LLC. and 58Hydro.com in a transaction that involved a combination of common stock, debt securities and cash. Exactly how much cash, debt securities and common stock were negotiated is unclear. Also we shouldn&#8217;t forget that this is a letter of intent and nothing is final until June 7 when the agreement is expected to be closed.<\/div>\n<div><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/PHOTlogo.jpg\" border=\"0\" alt=\"PHOTlogo.jpg\" title=\"PHOTlogo.jpg\" width=\"100\" height=\"53\" \/>Wouldn&#8217;t you know it, only hours ago came another press release. This time <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PHOT\">PHOT<\/a> will be co-title sponsor for the &#8216;420 Hot Box&#8217;. This event will celebrate the legalization of marijuana in Colorado and will be headlined by the bands Slightly Stoopid and Cypress Hill. It seems <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=PHOT\">PHOT<\/a>&#8216;s PR machine is working on full power.&nbsp;<\/div>\n<div>One must wonder for how long can this flashy marketing be sustained with only 36 thousand in cash. Relying only on hype to generate shareholder value is not a sound business strategy and if you are contemplating investing in them be sure to do your own research beforehand.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>After the promising spike of more than 29% Growlife Inc. (OTC:PHOT) seem to have lost some steam during the last 3 trading session. On Friday they dropped 6% to close at 0.053. Many companies&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[21],"class_list":["post-1166","post","type-post","status-publish","format-standard","hentry","category-news","tag-phot"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=1166"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/1166\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=1166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=1166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=1166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}