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Growlife Inc   (PHOT)
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Price: $0.0008 $0.00 0.000%
Day's High: $0.0008 Week Perf: 0.00
Day's Low: $ 0.00 30 Day Perf: 100 %
Volume (M): 4 52 Wk High: $ 0.10
Volume (M$): $ 0 52 Wk Avg: $0.03
Open: $0.00 52 Wk Low: $0.00



 Market Capitalization (Millions $) 0
 Shares Outstanding (Millions) 18
 Employees 1
 Revenues (TTM) (Millions $) -7,148
 Net Income (TTM) (Millions $) -1
 Cash Flow (TTM) (Millions $) 0
 Capital Exp. (TTM) (Millions $) 0

Growlife Inc

Our goal of becoming the nation’s largest cultivation facility service provider for the production of organics, herbs and greens and plant-based medicines continues to guide our decisions. Our mission is to best serve more cultivators in the design, build-out, expansion and maintenance of their facilities with products of high quality, exceptional value and competitive price. Through knowledgeable representatives, regional centers and its e-commerce website, GrowLife provides essential and hard-to-find goods including growing media, industry-leading hydroponics equipment, organic plant nutrients, and thousands more products to specialty grow operations across the United States.

We primarily sell through our wholly owned subsidiary, GrowLife Hydroponics, Inc. GrowLife companies distribute and sell over 15,000 products through its e-commerce distribution channel, GrowLifeEco.com, and through our regional retail storefronts. GrowLife and its business units are organized and directed to operate strictly in accordance with all applicable state and federal laws.

We are focusing on future success. In that regard, we believe that the hydroponics supply industry will experience significant growth and, as a result, operating in this industry has become highly competitive, cash intensive and customer centric. However, we have plans to address these challenges.

First, the opportunity to sell both infrastructure equipment and recurring supplies to the indoor cultivation industry is constantly increasing as demand for indoor cultivation grows across the United States. GrowLife believes the demand will continue to grow and more and more states and municipalities, including California enact rules and regulations allowing for more indoor cultivation activities. GrowLife continues with its multi-faceted distribution strategy, which we believe serves customers in the following manner: Direct sales to large commercial customers, retail in some markets for local convenience, and e-commerce via GrowLifeEco.com to fulfill orders across the nation from customers of all sizes.

While there is a great deal of purchasing of indoor cultivation equipment for non-Cannabis cultivation, many of our investors have a high-interest in the direction of the Cannabis industry as it may directly affect GrowLife’s growth. Therefore, the following market information is provided.

Twenty eight states and the District of Columbia currently have laws legalizing marijuana in some form. Three other states will soon join them after recently passing measures permitting use of medical marijuana.

Seven states and the District of Columbia have adopted more expansive laws legalizing marijuana for recreational use. Most recently, California, Massachusetts, Maine and Nevada all passed measures in November legalizing recreational marijuana. California’s Prop. 64 measure allows adults 21 and older to possess up to one ounce of marijuana and grow up to six plants in their homes. Other tax and licensing provisions of the law will not take effect until January 2018.

Several legislatures in states recently passing legalization measures are debating regulatory proposals around the use and sale of marijuana. Massachusetts lawmakers are weighing bills that would lower the amount that residents can legally possess or place restrictions on retails stores. In Nevada, one proposal calls for businesses to obtain permits allowing for the public use of marijuana.

A number of states have also decriminalized the possession of small amounts of marijuana. Other states have passed medical marijuana laws allowing for limited use of cannabis. Some medical marijuana laws are broader than others, with types of medical conditions that allow for treatment varying from state to state. Others states (not shown on the map below) have passed laws allowing residents to possess cannabis oil if they suffer from certain medical illnesses.

Our long-term strategy revolves around three premises: First, the indoor growing market for fruits, vegetables and medical plants is here to stay. We see an opportunity for it to double for several years, especially after last year’s election raising the number of states that support Cannabis; Second, GrowLife will continue to establish itself as a national brand to provide the much-needed advisory services and sell lighting, nutrients, mediums and other equipment, supplies and services to cultivators across the country; And third, the demand for more healthy, safer and economical ways to run indoor growing operations will dramatically increase and require innovative products to intelligently drive down costs without compromising quality. These are critical premises for the Company’s growth.



   Company Address: 11335 NE 122nd Way Kirkland 98034 WA
   Company Phone Number: 781-5559   Stock Exchange / Ticker: PHOT
   PHOT is expected to report next financial results on June 12, 2024.


   

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Growlife Inc

Growlife Inc. Faces Severe Revenue Decline of 90.788% in Q1 2023, Marking a Strenuous Fiscal Quarter

Growlife Inc, a company specializing in the production and distribution of cannabis-related products, has recently reported a disastrous fiscal period. During this time, their revenue plummeted by a staggering -90.788% to a mere $0.08 million. This marks a substantial decline compared to the same reporting period last year.
In addition to the significant drop in revenue, Growlife Inc also experienced a widening shortfall per share, which increased to $-0.06 from the previous year's reporting period. The preceding reporting period recorded a shortfall per share of $-1.95. However, there is a silver lining as the revenue turned positive, rising from $-7,148.42 million.






 

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