Growlife Inc (OTCMKTS:PHOT) Just Won’t Stop Climbing

Growlife Inc (OTCMKTS:PHOT) is a picture of return on investment right now.Anytime within the last six months and two weeks ago, the cost of purchase would have been between $0.0038 and $0.0073, but currently, the stock is valued at $0.0112.Take a look at its price movement: PHOT Daily ChartBrief HistoryGrowLife, Inc. was founded in 2012 and is headquartered in Washington. The company makes and markets high end, progressive horticulture and lifestyle products in the United States The firm provides legal products to the urban gardening market in retail, in business to business transactions, and direct to consumers. It also engages in the manufacture and sale of area lighting poles to distributors throughout the United States.GrowLife, Inc. (PHOT) aims to become the nation’s largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. Its mission is to help make the 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 equipment, plant nutrients, and thousands more products to specialty grow operations.GrowLife’s cultivation platform is a centralized supply chain that offers the company increased purchasing power, providing its clients with significant competitive advantages such as being able to set up pre-scheduled deliveries and have predictable costs. Its unique and service-friendly platform allows clients to focus on their cultivation operations and minimize risks associated with supplies and equipment.The company held a presentation on its long-term vision and multi-faceted approach to capture the fast-growing indoor cultivation services market at its last stockholder meeting in October. GrowLife’s unique value proposition is supported by the Company’s five pillar business strategy that is organized by hydroponics, innovations, e-commerce and e-Logistics, licensing, and subscription. In early October, the firm announced the implementation of this business strategy and achieved its first major milestone through a strategic asset acquisition of proprietary technologies for the indoor cultivation industry, further driving the company’s expansion efforts.Recent DevelopmentsIn October 2017, the firm announced that it had secured additional funding from private investment firm Chicago Venture Partners, a leading provider of capital to emerging and growth-stage small cap companies. The funding agreement was closed in August, 2017. GrowLife, Inc. had initially sought additional funding as a part of its 2017/2018 expansion plan, which includes bolstering the Company’s five pillar business strategy to capture the rapidly growing organics, greens, and plant-based medicine industries.The company’s five pillar strategy is comprised of GrowLife Hydroponics, a distribution business unit built around the Company’s direct sales force; GrowLife Products, a division featuring GrowLife-branded supplies, financial services, packaging, and supplies to support indoor growing operations; GrowLife Eco e-Logistics, an online marketing and distribution channel; GrowLife Licensing, a retail licensing arm that has already established GrowLife Retail License retailers in Canada and the United States; and GrowLife Cube Subscription, a consumer-targeted indoor “grow it yourself” subscription package.This most recent financing agreement will allow GrowLife, Inc. to deploy the resources needed to pursue its multi-faceted growth strategy. The Company’s growth strategy includes the establishment of multiple subsidiary entities, hiring of new executive and sales talent positions, pursuing asset purchases, and rolling out new and innovative product offerings.Marco Hegyi, CEO of GrowLife, Inc explained that the financing agreement would enable the firm to continue its robust expansion and differentiation plans to help achieve its mission of helping customers be successful. He further highlighted that the focus on bringing operational efficiencies to the market, and lowering production costs for customers while utilizing environmentally sustainable practices would position Growlife Inc as a leader in the industry.In the same month, the firm announced that it had appointed Thom Kozik as its newest member of the Company’s Board of Directors. Well regarded as a disruptive influence for innovation, Kozik has led or assisted global organizations large and small to discover new sources of revenue, areas of efficiency, and unknown markets and products.In his more than 30 years experience with corporations such as Marriott International, Microsoft, Yahoo, and Atari, along with several startups, he has held executive roles in marketing, business development, and product development. Over the past decade Kozik’s core focus has been the behavioral economics of online consumers and communities, and methods to maximize their lifetime value, and leveraging technology to reduce acquisition costs while increasing retention.Financial PerformanceNet revenue for 3Q2017 increased by $0.46 million to $0.66 million as compared to $0.2 million for the three months ended 3Q2016. The increase resulted from increased sales personnel and channels of distribution.Cost of sales for the three months ended 3Q2017 in somewhat similar fashion $0.48 million, an improvement on $0.18million for the 3Q2016. The increase was due to increased sales, offset by lower cost of sales related to favorable product mix and increased supplier discounts.Net loss for the quarter was $0.76 million, as compared to $0.47 million for the three months ended 3Q2016 largely due to increased general and administration expenses caused by the expenses of the annual shareholder meeting.ConclusionConsidering the way the company managed has been able to improve on all fronts, both financial and operational, PHOT may just be a steal in the market.For the full story, check out our complete coverage on PHOT.We will be updating our subscribers as soon as we know more. For the latest updates on PHOT, sign up below!Disclosure: We have no position in PHOT and have not been compensated for this article.