One of the top 10 OTCBB listed percentage gainers from Thursday, the penny stock of GrowLife Inc. (PHOT), aka Phototron, reported Q3 earnings late last night. After the biggest volume trading session of the year, the Company reported revenues up 128% from last quarter, 121% from the same period last year. The rally which began in October for PHOT stock has made it one of the best performing marijuana penny stocks, up 410%. Now that the horticultural specialists have completed a number of acquisitions this year and plan to develop Cannabis.org, can they return to their June high?
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PHOT Stock Chart
Market Cap: 15.70M
Close: 0.051, up 0.017 (50.00%)
Volume: 10,099,476
Dollar Volume: $417,508
High: 0.051
Low: 0.0325
Trades: 652
Average Trade Size: 15,489
Authorized: 1,000,000,000
Issued and Outstanding: 343,573,181
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GrowLife’s PHOT stock has six required materials attached to it:
- Cheap
- Bullish
- Liquid
- SEC Filier
- Growing Revenues
- Marijuana Focused
Seriously though, of all the marijuana focused penny stocks, MJNA, CBIS, GRNH, HEMP, RFMK, etc, PHOT has been smoking hot and the new earnings report together with SGSensors.com being on the cover of High Times magazine this month could keep it rolling.
GrowLife’s Q3 reported net income of $28,699 off of revenues of $475,870 compared to net income of $6,114 off revenues of $215,654 during the same period last year. Don’t forget, the Company’s Phototron Units have been featured on syndicated television shows around the world and magazines that cover subject more than just cannabis, weed, marijuana, how to roll a blunt properly, how to make a bong, etc. With the acquisition of Greners.com for $250,000, the bottom line numbers could double now that, as of July 23, 2012, it belongs to them.
The one and only concern regarding the penny stock of GrowLife is the balance sheet’s $1,129,074 6% senior secured discounted convertible notes.
On September 28, 2012, GrowLife entered into an amendment and exchange agreement with W-Net Fund I, Europa International, Inc., Sterling Scott, Robert Shapiro, Lauri Bilawa, Carla Badaracco and Forglen, LLC. The agreement provided for the issuance of new 6% Senior Convertible Notes that replaced the 6% Senior Convertible Notes that were issued during 2012. While the parties involved invested additional capital and converted existing advances into the new notes, the notes, which are secured by substantially all of the assets of the Company, are convertible into PHOT stock at the rate of $0.007 per share.
About PHOT Stock
GrowLife, Inc. and Subsidiaries (formerly Phototron Holdings, Inc.), design and manufacture indoor mini-greenhouses capable of growing almost any herb, vegetable, flower, fruit or terrestrial plant better, stronger and faster than traditional farming methods. The Company’s products (“Phototron Units”), consist of 21” x 39” units and 21” x 51” units, provide between 18,900 and 36,000 lumens of light which allow users to precisely control what a plant receives, grow crops densely, avoid using pesticides, increase yields and automatically water plants.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 11/15/12 | 0.0510 | +0.0170 | +50.00% | 10,099,399 |
| 11/14/12 | 0.0340 | unch | unch | 3,215,500 |
| 11/13/12 | 0.0340 | -0.0029 | -7.86% | 2,070,100 |
| 11/12/12 | 0.0369 | +0.0013 | +3.65% | 3,888,400 |
| 11/09/12 | 0.0356 | +0.0006 | +1.71% | 3,620,000 |
Click here to view the SEC filings for PHOT.
Bottom Line: Seeing PHOT close at the HOD and land on the top 10 list of penny stocks listed on the OTCBB for percentage gainers is a huge boost. Having positive earnings reported after the closing bell could be the support PHOT stock needs to avoid any sell off prior to the last “real” Friday trading session we’ll have for two weeks. Seeing 0.25, the June high, may be unrealistic, but seeing .055 onward to .06 will be a huge move heading into the last month of the year.
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