DECEMBER 30, 2016

Growlife Inc Updates On Contract Extension

Growlife Inc (OTCMKTS:PHOT) one of the country’s most renowned indoor farming service providers, reported that the Board of Directors have given its nod to extend Marco Hegyi’s employment for another two years after discussions.

Hegyi has led Growlife back to active trading platform from the Gray Sheet, effectively maintained strong and constructive associations with customers, shareholders and suppliers, and helped company to continue operating through its most challenging times. Therefore, with this extended contract, the company will maintain management stability for the following two years under Hegyi’s leadership.

Mr. Hegyi joined Growlife back in 2013 as the firm’s President. In April 2014, the U.S. SEC temporarily suspended the firm’s stock from trading for 10 days. The suspension reason was given as questions that have been asked about the accuracy and acceptability of information in the market and possibly manipulative transactions in PHOT’s shares.

Later that year, the Commission detained and indicted four outside folks for mismanagement of PHOT stock. However, the commission didn’t file any charges against PHOT. As the CEO, Hegyi secured the necessary funding to maintain businesses, worked through the Commission procedure and closed a 22-month journey to start active trading.

Hegyi mentioned that Growlife is a great company, everything from its staff to its clients and investors, with a thrilling future that merits to benefit from the mounting demand for indoor farming. The upcoming vote is just one factor that can noticeably increase company’s market size and product demand.

There are numerous expansion opportunities for company, from serving large viable cultivation clients and caregivers to the developing home indoor cultivators, all who want the equipment, provisions and expertise that Growlife delivers. Also, strong and dependable financing partners, purchases, up-listing to OTCQB, service plans and increased associations, can boost greater growth. They are still lagging from closing what was planned.