WOODLAND HILLS, Calif., Oct. 17, 2013 /PRNewswire/ -- GrowLife, Inc. (OTCBB: PHOT), a diversified company operating in the legal cannabis industry including online and brick and mortar hydroponic stores, OEM grow equipment, commercial grow-op support, and media, is pleased to announce that Grassroots Research has provided an updated report for review and consideration by the investing public.
The report is available at the following link:
From the report:
"The recent position paper by Department of Justice encourages all 50 states to implement reasonable medical and/or recreational marijuana programs. These clarifications on policy and practice are expected to have the very desirable effect on companies engaged in marijuana industry. Further, it shall provide a major boost for companies engaged in providing the required marijuana infrastructure to be built in each and every state. PHOT is expected to be at the forefront of this marijuana infrastructure industry. PHOT is partly targeted at the massive $45 billion dollar marijuana market."
"We have asked Grassroots to provide our investors with an updated report given the significant change in market conditions over the past few months," stated GrowLife, Inc. CEO, Sterling Scott, "We believe that Grassroots has done an outstanding job in looking at events such as the Department of Justice position change from an analytical perspective which should be of value to those interested in this industry and GrowLife."
Due to beneficial market factors detailed in the update, Grassroots has at its sole discretion, chosen to increase its 12-18 month price target to .23 per share. GrowLife wishes to remind investors that Grassroots Research was retained by GrowLife to provide market analysis in its perpetual effort to provide maximum transparency and that any price targets are offered solely by Grassroots Research without any influence or request by GrowLife. Its compensation is not based on the target.
A GrowLife Investor Presentation can be viewed online at http://growlifeinc.com/growlife-presentations-october-2013/
To view GrowLife's Cannabis.org Facebook page and TELL THE TRUTH movement please visit: https://www.facebook.com/tellthetruthfederalgovernment
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Greners.com, the online hydroponics superstore (www.greners.com), Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment (www.phototron.com) as well as bricks and mortar retailers Urban Garden, Rocky Mountain Hydroponics and Evergreen Garden Center (www.rmgardener.com) .
Cautionary Language Concerning Forward-Looking Statements
This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for GrowLife's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in GrowLife's filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting GrowLife, Inc. please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. GrowLife, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE GrowLife, Inc.