GrowLife Inc. (OTCQB: PHOT), an industry leading consortium of high-end gardening and horticulture brands, sees enormous potential in the hobbyist market emerging from new marijuana laws being drafted at a state level. For instance, Colorado may allow adults over the age of 21 to grow up to six marijuana plants in their homes legally.
GrowLife offers a unique play on the burgeoning marijuana sector. Unlike Cannabis Science Inc. (OTCQB: CBIS) or Hemp Inc. (OTCQB: HEMP), the company is focused on end-to-end growing solutions designed to simplify indoor horticulture. The product is well positioned to capitalize on the new regulatory environment, but may have less regulatory risk than other plays.
GrowLife Inc. (PHOT), an industry-leading consortium of high-end gardening and horticulture brands focused on merchandising the "picks and shovels" of the growing "green rush," today announced that it sees potential for rapid market expansion as states draft new marijuana laws in Colorado, Washington, and Massachusetts.
Colorado Gov. John Hickenlooper is creating a task force this week to start the process of ironing out the newly passed law in his state, which will work "to identify the policy, legal and procedural issues that need to be resolves related to Amendment 64" as reported by the Denver post
. On December 6th, Colorado will certify the November vote totals from each county, Hickenlooper will then have 30 days to sign off and Amendment 64 which then becomes the law of the state on January 5th, 2013.
GrowLife notes that the Colorado law provides for home growing operations. For instance, Amendment 64 would allow adults 21 years or older to purchase up to one ounce of marijuana from specialty dispensaries and grow up to six marijuana plants in their homes.
In the state of Washington the need for expediency is just as great, with December 6th also being the day of certification for their vote totals. The difference is that in Washington there is no 30-day waiting period, the law will be in effect in a mere 7 days. While the state has until December 1st, 2013 to establish other key rules, the Seattle Police department has taken a proactive approach by releasing "Marijwhatnow? A Guide to Legal Marijuana Use in Seattle
These developments could significantly expand the market for indoor horticulture and complete growing systems. By providing the highest quality equipment possible, GrowLife's systems are uniquely suited for allowing the home grower a beginning to end solution that is perfectly suited to grow the best product available.
"The hobbyist market is powerful one in America," according to Sterling Scott, the CEO of GrowLife, Inc. Scott explained that "among the prominent public companies with a commitment to the medical marijuana industry, GrowLife, Inc. (PHOT) is fortunate to be positioned almost perfectly to efficiently serve the hobbyist market with our industry leadings brands and our on-line sales channel. Our companies have fielded hundreds of calls from new customers in Washington, Colorado and Massachusetts over the past several weeks. It is gratifying to us to welcome so many new hobbyist customers in GrowLife companies across all demographics."
GrowLife believes that federal interference is unlikely, especially in Colorado where a higher percentage of the population voted for legalized marijuana than they did for President Obama in November. Many people compare today's marijuana movement to the early 1930's repealing of prohibition. In 1933, then Michigan Gov. William Comstock said "Prohibition didn't prohibit", and went on to describe the vote for the 21st amendment as an exercise of "good common sense and judgment."
The support is also there for ending cannabis prohibition from a traditionally conservative point of view; a basic conservative political position is that we should have as little governmental intrusion in our lives as possible. This position has been promoted by the great economic guru of the Republican Party, Milton Freidman, as well as by recent presidential candidates Ron Paul and Gary Johnson.
GrowLife's consortium of companies actively participate in all channels of commerce for distribution and sales, including operating on-line and retail outlets for direct consumer sales and the supply of specialty GrowLife company products to wholesale and retail channels. And, while supporting progressive normalization of cannabis laws, the company does not grow, sell or distribute any substances that violate U.S. law or the Federal Controlled Substances Act.
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (formerly Phototron Holding, Inc.) (www.growlifeinc.com
) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Stealth Grow, a producer of grow room automation equipment and hi-powered LED grow light products for indoor horticulture (www.sgsensors.com
), Greners.com, the online hydroponics superstore (www.greners.com
) and Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment (www.phototron.com
For more information about our public holding company, please visit www.growlifeinc.com
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in GrowLife's filings with the Securities and Exchange Commission. In addition, all industry products are subject to additional uncertainty, including the risks of delay, cancellation and poor critical or financial reception. GrowLife disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.