WOODLAND HILLS, Calif., Nov. 9, 2012 /PRNewswire/ --
GrowLife Inc. (OTCBB: PHOT), an innovative leader in high-end horticulture supply, today announced that it has appeared in numerous major news publications over the past couple of weeks.
Much attention has been drawn this week since voters in Washington and Oregon went to the polls and voted to allow the full legalization of marijuana in their states. Voters also approved the use of medical marijuana in several new states, marking a significant milestone for the burgeoning marijuana industry.
This increased attention has led to increased publicity for a number of public companies operating in this industry including GrowLife Inc. (PHOT), Hemp Inc. (OTC Pink: HEMP), and Medical Marijuana Inc. (MJNA).
Some examples of GrowLife's media attention have included:
- SmallCapNetwork's James E. Brumley's article, 2012's Election Is Just as Important for Marijuana as it is Political Parties (CBIS, HEMP, MJNA, PHOT), discusses the media focus on the sector, as well as the traction seen in many stocks.
- CNNMoney's article, Don't Expect a Marijuana Boom Even When It's Legal, notes that shares of marijuana stocks have all had strong gains and the scales may be finally tipping in their direction when it comes to regulations.
- Consumer Affair's Mark Huffman's article, Two States Vote to Legalize Marijuana, quoted GrowLife Inc. CEO Sterling Scott when discussing the benefits of medical marijuana's approval in many states.
According to Sterling Scott, CEO of GrowLife, Inc., "The investment community at large is just starting to be aware of the available business and investment opportunities. Bruce Perlowin, the CEO of fellow public company HEMP, Inc. has referred to this as the 'green rush,' an analogy to the famous California gold rush of 1848.
"This week's vote and associated recent press coverage have demonstrated first of all a distinct trend of national acceptance of the medicinal value of marijuana. Second, the acceptance by voters in Colorado and Washington of a lifestyle for adults that can now include recreational use of marijuana. And finally, the ability of state and local government to regulate and tax, helping to add to the tax base, an idea that many social conservatives are behind.
"GrowLife, Inc., our company, has invested strategically and positioned itself to be a top a shelf supplier of the tools of todays green rush with our leading supply of grow lights and hydroponic grow systems. This positioning allows our shareholders to benefit directly from the growth in this market." Scott further explained, "GrowLife is dedicated to continuing to grow our retail product lines and sales presence, while also participating in revenue opportunities through the GrowLife Productions side of our business. This side of our business includes specialized social gaming and merchandising opportunities that are uniquely tailored for this industry segment."
All of the recent media attention has provided GrowLife, Inc. with an opportunity for communicating to the media and investors that our dynamic business model is growing without ever selling or marketing any substances prohibited by federal law.
GrowLife's recent growth over the last six months has been due mainly to its increased presence in the industry through the sale of company owned branded products (www.Phototron.com, www.StealthGrowLED.com, & www.SGSensors.com). We have shown this commitment by our acquisitions of both Greners.com, which is our online store, and of Urban Garden Supplies, with their brick and mortar stores located in California. These strategic acquisitions are both engaged in the high growth side of the green rush business.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (formerly Phototron Holding, Inc.) (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 the SG line of automation equipment and hi-powered LED grow light products for indoor horticulture (www.sgsensors.com and www.stealthgrow.com), Greners.com, the online hydroponics superstore (www.greners.com) and Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment (www.phototron.com).
For more information about our public holding company, please visit www.growlifeinc.com.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in GrowLife's filings with the Securities and Exchange Commission. In addition, all industry products are subject to additional uncertainty, including the risks of delay, cancellation and poor critical or financial reception. GrowLife disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
SOURCE GrowLife, Inc.