WOODLAND HILLS, Calif., June 12, 2013 /PRNewswire/ -- GrowLife, Inc. (OTCQB: PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, is pleased to announce that Grassroots Research, led by D. Paul Cohen, has completed a 55 page analysis of the Company and its prospects.
In addition to a detailed study of the company and the market opportunity, Grass Roots Research has issued a price target of .22 cents.
According to Cohen and his Grass Roots team, "PHOT's [GrowLife's] business model is brilliant. The Company has unique assets unavailable to most micro cap stocks: access to capital, massive USA and worldwide market demand, leveraged distribution channels and a very strong management team. GrowLife is actively engaged in improving and expanding its lineup of branded products through organic development, business alliances and acquisitions. Based on the Company's strong performance in the recent quarter, significant revenue growth previous year and excellent business outlook, we believe that GrowLife is on track to record $5.4 million in revenues in 2013, $10.9 million in 2014 at impressive margins. Based on these projections and provided the Company raises $5.0 million in capital, the Cohen Target Price is 456.2% higher than the current price."
Based on data collected by MMJ Business Daily from a Washington State Report, the Marijuana Industry is expected to become a $45 billion annual industry. Cohen's team estimates the current size of the medical marijuana market as $1.7 billion, 25 million potential patients, projected to grow at 39% CAGR to $8.9 billion in 2016. The market is estimated to grow to $29.0 billion by 2016.
To view the free report in its entirety please visit the link below:
"GrowLife is very grateful to Grass Roots Research for the depth of the industry analysis that was provided. This report will likely be of considerable interest for institutional investors and retail investors. We are appreciative that the thesis and the analysis of GrowLife was positive and encouraging. GrowLife compensated Grass Roots Research prior to their effort. No suggestion or request for a price target of any kind was made to Mr. Cohen," stated Sterling Scott, CEO, Growlife Inc.
About Grass Root Research & Distribution Group
Grass Roots Research & Distribution Inc. (GRRD) is Wall Street's leading independent micro-cap research firm, concentrating on emerging companies with strong management teams focused on shareholder value and sustainable competitive advantage. GRRD, led by renowned security analyst, D. Paul Cohen, highlights the company's market opportunity, technology, management, competition and other key differentiators that may affect their long- and short-term valuation. GRRD focuses on those public companies that lack or have minimal Wall Street research analyst coverage. GRRD research reports are commissioned and paid for by the companies covered, or by third parties. For more information, visit: http://www.grassrootsrd.com.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (formerly Phototron Holdings, 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 Stealth Grow, a producer of grow room 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). GrowLife is also the US distributor for the Urban Cultivator brand—the greens machine (www.urbancultivator.net).
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties, and actual results might differ materially. Examples of such forward-looking statements include management's projected 2013 revenue guidance, references to potential acquisitions, and other references to potential growth in the business. 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.