Connect with us

Business

Growlife Inc (OTCMKTS:PHOT) Could be Flying Under the Radar

Published

on

Growlife Inc (OTCMKTS:PHOT) has been grinding lower over the past 10 months, which represents some clear underperformance relative to the cannabis space at large. However, the company recently announced financial results for the quarter ending Sept. 30, 2018, and provided an overview of recent operational highlights from that quarter.

According to the company’s release, PHOT experienced continued growth over last year, showing a 44.3% increase in revenue over Q3 2017. For the nine-month period ending Sept. 30, 2018, the company experienced revenue growth of 74% over the same period last year. That’s a reassuring set of numbers and could help to prop the action up in the name as trading kicks off this week.

Growlife Inc (OTCMKTS:PHOT) trumpets itself as a company that provides farming soil, hydroponics equipment, organic plant nutrients, and other products to specialty grow operations in the United States.

The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!

The company’s hydroponics equipment includes indoor lighting systems, growing mediums and accessories, tools for cutting and propagation, hydroponics systems, bulbs, ballasts, reflectors, meters and timers, and climate control equipment for the indoor plant cultivation and cannabis industries.

According to its materials, the company distributes and sells its products through its e-commerce distribution channels, such as ShopGrowLife.com, Greners.com, and GrowLifeEco.com, as well as retail storefronts.

In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($197K against $4.7M, respectively).

 

Coiling Up?

As noted above, PHOT recently announced financial results for the quarter ending Sept. 30, 2018, and provided an overview of recent operational highlights from that quarter. The company also noted that it filed a provisional patent application with the United States Patent and Trademark Office (USPTO) on a highly efficient and scalable vertical cultivation system.

According to its release, the Automated Indoor Cannabis Growing Facility is designed to produce high-quality, consistent and cost-effective cannabis. The company identified a need for commercial cultivators to continue to reduce their production costs while still producing large volumes of high-quality cannabis.

Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week.

“We are pleased to share some of the significant milestones met in the development and expansion of our commercial cultivation product offering as well as impressive revenue growth we achieved in the third quarter of this year,” said GrowLife CEO Marco Hegyi.

“During the third quarter, a historically slower quarter for our industry, we saw incredible results from our proof-of-concept study on our proprietary vertical grow room in development by our product development division. We look forward to further testing this system and bringing it to market in the coming months. Additionally, GrowLife’s seamless expansion into the Canadian marketplace saw further increases in sales and our new storefront and distribution centers in Portland, Maine and Los Angeles positioned us to more efficiently service the expanding legalized United States market through not only a retail presence but e-commerce fulfillment. Finally, we attended some of the most important and relevant industry events to network with industry leaders and speak on GrowLife’s products and services and further position us as a leader in commercial cannabis cultivation.”

Growlife Inc (OTCMKTS:PHOT) pulled in sales of $954K in its last reported quarterly financials, representing top line growth of 44.2%.

Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!

   

Learn More About PLSI at your brokerage today!

         

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade


FEATURED STORIES

INDUSTRIAL HEMP2 months ago

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Acquires 46% Stake In Curative Cannabis And Agrees to Fund Cannabis Cultivation Facility To Produce Ultra Premium Cannabis

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) has entered a deal to take over a 46% stake in Curative Cannabis. The company...

INDUSTRIAL HEMP2 months ago

Canntrust Holdings Inc. (OTCMKTS:CNTTF) Receive Permission From The Town Of Pelham For Their Third Phase Construction

CannTrust Holdings Inc. (OTCMKTS:CNTTF) has announced that they have obtained the required permit to go on with the third phase...

INDUSTRIAL HEMP2 months ago

Indiva Ltd (OTCMKTS:NDVAF) Announces 9.9% Equity Investment In Retailgo Inc.

Indiva Ltd (OTCMKTS:NDVAF) has announced that they are delighted to have finalized an Equity investment of 9.9% in RetailGo Inc....

INDUSTRIAL HEMP2 months ago

Future Farm Technologies Inc (OTCMKTS:FFRMF) Plans To Begin Selling Of Cheery Wine Strain Hemp Seeds And Test Operation Of The Oil Extraction Equipment

Future Farm Technologies Inc (OTCMKTS:FFRMF) is planning to commence the selling of the elite cherry Wine hemp seeds by putting...

INDUSTRIAL HEMP2 months ago

OrganiGram Holdings Inc (OTCMKTS:OGRMF) Sources Hemp With High Levels of CBD From 1812 Hemp

OrganiGram Holdings Inc (OTCMKTS:OGRMF) has entered into a supply pact with 1812 Hemp, an industrial hemp research company based in...

INDUSTRIAL HEMP2 months ago

Kona Gold Solutions Inc (OTCMKTS:KGKG) Declares That They Have Acquired Gold Leaf Distribution

Kona Gold Solutions Inc (OTCMKTS:KGKG) has announced the acquisition of Gold Leaf distribution a newly established distribution company. The Florida...

INDUSTRIAL HEMP2 months ago

CFN Media Group features Supreme Cannabis Company (OTCMKTS:SPRWF) as consideration for investors as their 2019 stock scales up

CFNB Media Group has announced a publication on Supreme Cannabis Company (OTCMKTS:SPRWF) as a licensed producer obsessed with quality. Supreme...

INDUSTRIAL HEMP2 months ago

Village Farms International Inc (OTCMKTS:VFFIF) Leading Greenhouse Crop Protection And Announces Plans To List Its Common Shares On The NASDAQ Market

Village Farms International Inc (OTCMKTS:VFFIF) has announced that they have facilitated Health Canada Pest Management Agency to get approval for...

INDUSTRIAL HEMP2 months ago

Sunniva Inc. (OTCMKTS:SNNVF) Secures More Funding For Growth Strategy As Plans Solidify Towards A Tremendous Year

Sunniva Inc. (OTCMKTS:SNNVF) is solidifying its growth strategy in anticipation for exponential growth this year. Notably, the firm acquired a...

INDUSTRIAL HEMP2 months ago

Curis, Inc. (NASDAQ:CRIS) Announce The Dosing Of The First Mesothelioma Patient In The First Phase Of The CA-170 Study

Curis, Inc. (NASDAQ:CRIS) has announced the enrolment and dosing of the first mesothelioma patient in the first phase of the...

Create a future where the human body can repair, restore, and rejuvenate itself

 

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play