Loading, Please Wait...
PHOENIX, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Uptick Newswire Stock Day Podcast welcomed Growlife, Inc. (OTC: PHOT), one of the nation’s most recognized indoor cultivation product and service providers. President and CEO, Marco Hegyi, joined Stock Day host Everett Jolly.
Jolly began the interview by introducing the Company as a new visitor on the Stock Day Podcast, and asked Hegyi to give listeners a brief about statement of the Company. Hegyi stated, “Growlife has been around for about 5-6 years. The purpose of Growlife is to work with cultivators, primarily in the indoor cultivation area, where we provide supplies and equipment to help operate their growth.” Hegyi continued by explaining that the Company offers more than 12,000 products.
Jolly then asked about any recent effects that legalization shifts have had on the Company. Hegyi explained that the effects have been substantial, starting with the 2014 legalization of cannabis in Colorado. At this time interest in the company grew exponentially and since then the Company better positioned itself to capitalize on the momentum of the expanding cannabis industry.
Hegyi then explained the concept of a “rights offering” and what it meant for the Company, “A rights offering is something that’s rarely done in the over-the-counter market. It is where you provide an investment opportunity for your shareholder base, and there are certain terms that you give to investors coming in.” Hegyi continued to explain that the Company has over a 100,000 shareholders and wanted to extend the opportunities that are commonly only given to large investors, to this group.
“We opened it up, this was back in November, and we were able to raise $2.5 million from our shareholder base”, stated Hegyi. He also added that the Company has been steadily generating revenue for quite some time, and that 2018 was a great year for the Company in terms of expansion.
Jolly then asked Hegyi how the Company plans to grow within the industry. Hegyi explained that the cost of cannabis varies by state; however, prices have been dramatically decreasing due to oversupply since legalization. To combat this issue, the Company has taken a unique stance in developing ways to decrease the cost of cultivation through its products, making it more affordable for cultivators to grow cannabis. Hegyi shared that the Company is developing an automated grow system that is completely focused on the reduction of these production costs, aiming to hit an unheard of $.50 per gram cost.
Hegyi then looked to 2019 and shared that the Company has an experienced an exponential increase in demand for cloning products produced by its recently acquired EZ-Clone manufacturer since the passing of the Hemp bill. Meanwhile, Canada also offers many exciting opportunities for the company due to the country’s massive legalized cannabis industry.
To close the interview, Hegyi explained that the cannabis industry is only getting started and the demand is showing no sign of slowing down. In the future, the Company plans to continue to expand into the market and grow their shareholder value.
To hear the entire interview, follow the link to the podcast here: https://upticknewswire.com/featured-interview-ceo-marco-hegyi-of-growlife-inc-otcqb-phot/
About GrowLife, Inc.
GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Our mission is to help make our customers successful. Through a network of local representatives covering the United States and Canada, regional centers and its e-Commerce team, GrowLife provides essential goods and services including media, industry-leading hydroponics and soil, plant nutrients, and thousands more products to specialty grow operations. GrowLife is headquartered in Kirkland, Washington and was founded in 2012.
Public Relations Contact:
Cassandra Dowell, 858-264-6600
Investor Relations Contact:
About Uptick Newswire and the “Stock Day” Podcast
Founded in 2013, Uptick Newswire is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Uptick provides companies with customized solutions to their news distribution in both national and international media outlets. Uptick is the sole producer of its “Stock Day” Podcast, which is the number one radio show of its kind in America. The Uptick Network “Stock Day” Podcast is an extension of Uptick Newswire, which recently launched its Video Interview Studio located in Phoenix, Arizona.