{"id":3029,"date":"2013-10-28T14:11:10","date_gmt":"2013-10-28T14:11:10","guid":{"rendered":"\/?p=3029"},"modified":"2013-10-28T14:11:26","modified_gmt":"2013-10-28T14:11:26","slug":"growlife-inc-otcbbphot-fails-to-breach-ten-cents-slips","status":"publish","type":"post","link":"\/articles\/growlife-inc-otcbbphot-fails-to-breach-ten-cents-slips\/","title":{"rendered":"Growlife, Inc. (OTCBB:PHOT) Fails to Breach Ten Cents, Slips"},"content":{"rendered":"

\"1PHOT_chart.png\"On Friday Growlife, Inc. (OTCBB:PHOT<\/a>) closed the session over 8% down. Volume remained relatively strong with a little over 17 million shares changing hands. The pullback was more or less predictable, considering the movement of the price over the last few months. <\/p>\n

The ticker had run all the way up from a humble $0.03 per share in early August to an intra-day high of $0.095 last Thursday. The chart makes it immediately obvious that every time the stock managed a decent run up, that was followed by a cooldown period. Luckily for PHOT<\/a> longs, each following run up managed to balance it out a little higher and the price finally managed to clamber near 10 cents per share.<\/p>\n

Friday’s slip may be the next pause the ticker needs to get its bearings before moving on, as it has gained nearly 30% over its last run. The company was lifted by a series of positive press releases over October and had a strong month. On the bright side of things, quarterly revenues are growing at a steady pace and are approaching $1 million per quarter, but this still doesn’t manage to offset the company’s growing expenses and the latest quarterly shows net loss of over $1.5 million.<\/p>\n

The company has convertible debt that should not be overlooked and is issuing new shares at a pace some may not find to their liking. January through June 2013 PHOT<\/a> issued 173 million common shares to clear convertible notes, with the shares valued at $1.32 million, which would mean under a cent per share.<\/p>\n

\"9PHOT_logo.png\"The overall picture is also marred by a ‘research report’ which PHOT<\/a> informed the public about in a PR announcement. The report in question sets a $0.23 price target for the ticker, which would be great, if the report itself wasn’t paid for by the company itself. The fine-print disclaimer states that the researchers received $2,500 in cash and 3 million PHOT<\/a> shares for compiling the so-called report which is rather like a paid advertisement, considering the compensation listed and the multiple ‘conflict of interest’ parts in the disclaimer.<\/p>\n

Whether PHOT<\/a> will correct further or stabilize after Friday’s slip remains to be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday Growlife, Inc. (OTCBB:PHOT) closed the session over 8% down. Volume remained relatively strong with a little over 17 million shares changing hands. The pullback was more or less predictable, considering the movement...<\/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-3029","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\/3029","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=3029"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3029\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}