Growlife Inc (OTCMKTS:PHOT) provides a plethora of products and services to get you started with cultivating cannabis. Similar to a pick and shovel business operating in the “Gold Rush” PHOT provides all the equipment necessary to set up a growing operation while we are in the up and coming of the “Green Rush”.
In the past couple weeks shares of Growlife Inc (OTCMKTS:PHOT) moved from a recent low of .0095 to a high of .0175 for an 84% gain they type of volatility we love seeing from a “Pot Stock”.
Growlife Inc (OTCMKTS:PHOT) one of the nation’s most recognized indoor cultivation service providers, announced today the expansion of its Board of Directors and management team.
As GrowLife seeks to capitalize on the increasing demand for indoor cultivation by commercial growers as well as consumers, along with the recent announcement of GrowLife’s Retail License Program, it has added two experienced executives to its board of directors: Ms. Katherine McLain, corporate counsel for Stripe and the return to the Board of Mr. Mark Scott, GrowLife CFO.
“Our new board members strengthen the GrowLife bench and deepen the resources across finance, legal and operations,” stated Mr. Marco Hegyi, GrowLife Chairman and CEO. “Katherine brings Silicon Valley legal knowledge and banking expertise from Stripe and Silicon Valley Bank, and Mark rejoins the board and adds a second executive board member perspective.” Their brief biographies are listed below.
In addition, Mr. Darren Erasmus, a well-respected cultivation industry leader from House & Garden Nutrients, has joined the Company as its National Sales Manager.
“Darren’s wealth of experience and unparalleled network is a powerful and critical addition to GrowLife,” continued Mr. Hegyi. “He will help Joe Barnes, Senior Vice-president of Business Development, build our Sales team, GrowLife’s focus on nationwide revenue expansion, and recruit stores into the GrowLife Retail License Program.”
The GrowLife Retail License Program was announced last month. Its first licensee is Fairmount Hardware, an Ace Hardware franchise, located at 2011 Fairmount Ave, Philadelphia, PA. The store is completing its training, inventory stocking and customer engagement steps to go live next month. More details on obtaining a GrowLife licenses in locations in selected markets across the country can be found at growlifeeco.com/about/retail-licensing-program.
Ms. Katherine McLain, GrowLife Board Member
Katherine McLain, Esq. currently serves as corporate counsel for Stripe, Inc. and has previously held legal and compliance roles ranging in both public and private companies. She has over 30 years of experience as a revenue focused attorney and regulatory professional helping grow new business lines as well as ground up start up ventures. She is a graduate of the University of California, Berkeley and the Santa Clara University School of Law and lives with her family and dog Jax in Castro Valley, CA.
Mr. Mark Scott, GrowLife Board Member
Mr. Scott has returned to the Board of Directors and Secretary of GrowLife, Inc.. On July 31, 2014, Mr. Scott joined GrowLife as Consulting Chief Financial Officer. Mr. Scott has significant financial, capital market and relations experience in public micro-cap companies.
Mr. Darren Erasmus, GrowLife National Sales Manager
Mr. Darren Erasmus joined GrowLife in January 2017 to operate the Company’s retail and direct account sales programs as National Sales Manager. He brings more than 10 years of working with retail stores, wholesale distributors and large-scale commercial growers. Most recently, he worked with Humboldt Wholesale and House & Garden Nutrients for five years. In his new role, he is responsible for expanding nationwide revenue and recruiting a proven team of account and store managers. Mr. Erasmus graduated from the University of Alabama and resides in Denver, Colorado with wife and three children.
More information and commentary on the Company is also provided on Mr. Hegyi’s blog. Specific financials and corporate actions on GrowLife (OTCBB: PHOT), can be found in the filings at the SEC website.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to best serve more cultivators in the design, build-out and expansion of their facilities with products of high quality, exceptional value and competitive price. Through a nationwide network of local representative, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media (farming soil), industry-leading hydroponics equipment, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, WA and was founded in 2012.
PHOT has been bringing in 12-month revenues of $1.3M. The company however has seen rapid declines on a quarterly year over year basis to their top line, with revenues dropping over 60%. While the “Green Rush” is here and now, it’s time to capitalize on the gains these companies operating in the space have to offer. We will keep our members updated to the story again soon as material events are brought public. For continuous coverage on $PHOT stock, as well as our other hot marijuana stock picks, sign up to the StreetRegister.com today and get ready for our next booming stock pick!