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Marijuana

Growlife Inc (OTCMKTS:PHOT) Impressed By Its 141% Revenue Growth

Growlife Inc (OTCMKTS:PHOT) has showcased outstanding results in its Q3 2019. Compared to results in the previous year, matters have been impressive this time around. The revenues have increased by almost 141% from where they were last year.

An outlook at the Results

The CEO of GrowLife Marco Hegyi has was the first one to commend the company for this massive achievement. He reveals that the summer quarter isn’t in their favor most of the time. It gets rather challenging even at those times when they are well prepared. However, he likes the performance of the GrowLife and EZ CLONE products. The official says that these products have continuously showcased outstanding performance.

Hegyi is also quite pleased with the gross margins which have remained strong standing at about 32.4%. The official attributes the massive success being experienced partially to the implementation of proper strategy.

Plans to uphold remarkable performance

Sometime back, the company decided to do away with some of its poor-performing business segments. These included the flooring as well as the retail hydroponics segments.

Hegyi applauds the move outlining that it will help a huge deal in bringing down the company’s monthly spending. According to the official, this could be up to an amount of almost $100,000 monthly.

Hegyi is confident that the company will climb the business ladder as long as it sticks to its developmental plans. Currently, the company is looking into the utility of its increased gross margin and savings. The official outlines that they will be making several business investments shortly. He highlights the previously announced 2020 plans where the business seeks to provide hemp CBD clones. It intends to sell them under the EZ CLONE brand. Hegyi believes that this will help satisfy the ballooning CBD market. The leader remains optimistic that this will result in a significant level of growth for the fast-growing company.

Growlife may soon witness its dream of becoming the nation’s biggest player in cultivating organics come true. It also seeks to lead in other fronts including greens, herbs and some other plant-based medicines. The business giant is looking to expand its presence in the United States and Canada.

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Marijuana

Growlife Inc (OTCMKTS:PHOT) Secures Patent For Cannabis And Hemp Industry EZ-CLONE Pro Commercial Cloning System

Growlife Inc (OTCMKTS:PHOT) revealed on Thursday that it received a patent for its EZ-CLONE Pro Commercial Cloning System from the Canadian patent regulatory authority.

GrowLife developed the EZ-CLONE Pro Commercial Cloning System after acquiring EZ-CLONE Enterprises, Inc. whose main specialty is creating cloning and propagation machinery. The company developed the commercial cloning system design for the marijuana and hemp industry’s commercial-scale plant cultivators. Its goal is to offer user-friendly and sustainable solutions that will fill the demand for such solutions.

“The issuance of this patent illustrates how innovative this product is and how much it can disrupt the entire cannabis and hemp industries,” said Marco Hegyi, the CEO of GrowLife.

Hegyi also pointed out that commercial cultivators want solutions that will help them achieve more consistency and health in their plant growth within the shortest time possible. He also noted that it is important to protect the new design because it is a legacy of EZ-CLONE and that it is important for GrowLife’s future.

GrowLife announces a deal with Emerald Metrics LLC 

GrowLife announced towards the end of June that it secured a deal with cannabis technology provider Emerald Metrics LLC to introduce spectral imagery into EZ-CLONE systems. The two companies struck a partner deal through which GrowLife’s EZ-CLONE systems will receive the proprietary technology from Emerald Metrics.

The EZ-CLONE Pro is a commercial propagation system that is designed to help cultivators or growers gain a better picture of the clones cultivated in a system. The addition of Emerald’s spectral imagery technology into the EZ-CLONE Pro will allow cultivators to receive advance notice about the health of the clone. It will also grant the system the ability to detect other issues that might be taking place before they are detectable by the naked eye.

The partnership between GrowLife and Emerald Metrics is the result of the increasing demand for more advanced technologies in cloning and hemp cultivation. Cultivators also require more advanced technologies that will allow them to increase their productivity to meet the rapidly rising demand. They also aim to achieve their productivity goals with more operational efficiencies so that they can achieve more profitability.

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Marijuana

GrowLife, Inc. (OTCMKTS:PHOT) Hires Brian Knight as National Sales Director to Expand the Commercial Division of the Company

GrowLife, Inc. (OTCMKTS:PHOT) has announced hiring National Sales Director, Brian Knight who will be in charge of the national sales team as well as focusing on the expansion of the commercial division of the company.

GrowLife Looking to Move Forward

As an indoor cultivation product as well as a service provider, GrowLife is looking to expand its national commercial accounts. With that objective being set by the company, the next move was to get the right person in charge to steer the company ahead in line with their aim.

Therefore, in taking the company forward in expanding the sales team in commercial cultivation as well as building products divisions, the experienced Brian Knight was the one for that position. Speaking about hiring Mr. Knight, GrowLife commercial division president Joe Barnes was confident that Brian Knight ticked all the boxes.

His tremendous experience in the more significant sales organizations as well as personally overseeing a multi-million-dollar growth in previous roles made him the right candidate.

With a Fast of Experience, Expectations are high

The hiring of Brian Knight means GrowLife is in the right hands because he comes with a lot of experience and the records speak for themselves. For instance, previously he had held management positions for more than 10 years in large-scale sales organizations.

His building supply sales extensive experience will be required to develop further the sales pipeline the company’s innovations’ shopcustomfloors.com product line while focusing on the large-scale commercial flooring contracts.

Also, he will streamline the company’s sales process of commercial cultivation as well as propagation products which include EZ-Clone Pro. He will bring more than the knowledge of managing large funnel of business as he too has leadership roles as he has previously built large teams as well as scaled organizations quickly.

GrowLife is looking to build on the momentum from the recent expansion of product offering that saw it grow at an escalated rate and hence Brian has the task at hand to ensure that momentum continues. The customers have to continue receiving a high level of service demanded as the build of a pipeline of new customer accounts continues.

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Marijuana

Growlife Inc. (OTCMKTS:PHOT) Gets Stockholder Support For Continued Growth

Growlife Inc. (OTCMKTS:PHOT) is at the point where all conditions favor growth. Notably, the United States just promulgated the 2018 Farm Bill which legalizes cultivation and distribution of hemp. In particular, Growlife sees a whole new horizon full of growth opportunities with the new law.

A new market segment for Growlife

According to an official commentary on the passing of the Bill, Growlife expects a sharp increase in hemp-related products. Interestingly, the firm noted that it is already experiencing an influx of customers. Notably, customers are looking for scaling solutions for hemp cultivation. In particular, the firm is already witnessing an outsized demand specifically for EZ-Clone and Growlife soil. These are solutions for mounting cultivation facilities for hemp.

According to Marco Hegyi, GrowLife CEO, legalization of hemp cultivation “presents a new market segment” for Growlife. Notably, there are large hemp cultivators who are demanding around half a million EZ-Clones. Just recently acquired, EZ-Clone is proving a good transaction so far, especially after the 2018 Farm Bill.

Interestingly, all these growth opportunities are availing just when Growlife is enjoying maximum support from stockholders. After a recent Annual Meeting of Stockholders, Growlife announced that it received near-unanimous support for its growth strategies. Notably, the stockholders participated overwhelmingly in the voting rounds, something Hegyi found humbling.

Strong stockholder support

“We had a significant majority of shareholders approve the motions put forth, including a prospective reserve split in shares enabling our company to seek more high-quality investment in the future,” said Hegyi.

Meanwhile, Growlife Inc. revealed the details of the recently closed rights offering. In particular, the offering specifically aimed at providing capital for various growth-related developments. Notably, the firm announced that the offering was successful. In particular, they were able to raise gross proceeds of a little over $2.5 million.

Interestingly, the rights offering mainly, aimed at giving at giving shareholders “the opportunity to invest directly in the company at a set price, with additional warrants to support the company’s capital raise.” Again, Hegyi thanked the strong support the firm is receiving from the shareholders towards achieving company goals. As such, the CEO promised to continue delivering value to the stockholders.

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Marijuana

Has Growlife Inc. (OTCMKTS:PHOT) Hit The Jackpot With The New Vertical Grow System?

Growlife Inc. (OTCMKTS:PHOT) has unveiled a new vertical grow room system, which as it stands, could have a significant impact on how people grow cannabis in future.  Test results carried out on the new growing system shows that it has the potential to trigger a 76% per-plant kilowatt reduction. If indeed true then the system could help cannabis growers enjoy a significant decrease in power consumption.

It awaits to be seen if the unveiling of the new system is the catalysts that will help strengthen investor confidence in the stock.  GrowLife has been under pressure ever since it touched highs of $0.05 at the start of the year.

A strong bear run has seen the stock shed more than 50% in market value, fuelling suggestion that the stock could plummet to all-time lows.  The stock has already broken a critical support level at the $0.02 level, awaiting to see if it will continue to edge lower.

GrowLife Vertical System

The new GrowLife vertical system is a catalyst that could help prevent a further slide in the stock price. The fact that the new system has multiple energy saving aspects makes it an ideal system that would be attractive to most growers looking to cut back on operation costs.

The system also utilizes a patent-pending lighting system that uses broad-spectrum LEDs as well as a heat displacement technology. The heat displacement technology incorporated in the new GrowLife cannabis growing system, reduces the amount of electricity required to run air conditioning therefore expected to reduce growing costs.

“Electricity usage per plant is one of the highest costs and an important metric to scalable growing facilities We understood that in order to reach our per gram price target our system would need to use significantly less power,” said GrowLife CEO Marco Hegyi.

In addition to reducing power consumption, the new system has also proven to house four times as many plants compared to traditional grow room systems.  The system is designed to operate in a 64 square feet room while hosting 70 full-size plants.

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Marijuana

Growlife Inc (OTCMKTS:PHOT) Unveils The Canadian E-Commerce Platform To Meet The Rising Demand For Cultivation Equipment

It was today that Growlife Inc (OTCMKTS:PHOT) disclosed that it had unveiled a new online e-commerce platform. It is a platform that will play a significant role in servicing both consumer and commercial customers throughout Canada.

GrowLifeHydro.ca 

The latest platform is available at GrowLifeHydro.ca and it is associated with a wide range of products, most of which are designed to support efficacious and cost-effective indoor plant cultivation for growers of varied sizes. The recent addition tells much regarding the expansion efforts of GrowLife in Canada as the company seeks top position itself strategically within Canada’s legislative landscape which is said to be evolving quite fast.

As we move a long, the company’s consumer division continues to experience boosted momentum in its U.S. growth. The incorporation of the latest distribution network and e-commerce sales channel is expected to do much in helping serve North America with the whole product offering.

The Vice President and head of GrowLife’s consumer division Lauren Schmitt while speaking to journalists recently said that they had so far managed to identify a huge opportunity for their top end products and services over the next few months.

Looking forward to a promising future

According to him, GrowLifeHydro.ca was a major driving force for them when it got to expanding their footprint strategically in what he deems a rapidly evolving multibillion-dollar cannabis market. Efforts are being channeled towards reaching a new demographic-focused clientele and the future looks promising.

Marco Hegy who is the current GrowLife CEO opined, “Our investment in the consumer division, led by Lauren, is critical to capturing market share in the burgeoning Canadian market where we have already made significant strides, including our strong retail presence in Calgary.”

He went further to outline that he had personally met industry investors and professionals in Canada. He revealed that he had spotted great excitement building up around the company which he termed a good thing. According to him, they had never encountered such a promising opportunity before. They were set to become leaders in many home growers and operators around Canada.

There are reports that any time soon Canada will fully legalize the adult use cannabis and it will be the perfect opportunity for the large-scale producers to make their way into the market.

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