WOODLAND HILLS, Calif., June 4, 2013 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTCQB:PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, is pleased to announce that it has retained Grassroots Research, led by analyst Paul Cohen, to provide an extensive research report on GrowLife, its market, and future. The report is expected to be in excess of fifty pages and will serve as the most comprehensive third-party analysis to date.
Mr. Cohen has been given no parameters or directives by GrowLife as it pertains to forward valuations or Investment Thesis and has been fully-paid prior to any assessment rendered and concluded. GrowLife may or may not agree with Mr. Cohen's conclusions.
The comprehensive report is expected to be released in mid-June and will address the economic impact of the potential closure of the previously announced Letter of Intent to acquire the East Coast and Colorado based operations of Rocky Mountain Hydroponics, LLC, Evergreen Garden Center, LLC and 58Hydro.com.
"Mr. Cohen and his firm have a reputation for being extremely thorough and for fully supporting any Investment Thesis that is offered," stated Sterling Scott, CEO, GrowLife Inc. "In our preliminary discussions, we were impressed by his deep understanding of the mercurial marijuana industry from both a regulatory and economic vantage along with having a clear comprehension of our dynamic business model. As such, we felt that Mr. Cohen and the Grassroots Research team could provide both our institutional and retail investors a much better understanding and have chosen to invest in this transparency accordingly."
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About GrowLife, Inc.
GrowLife, Inc. (PHOT) (formerly Phototron Holdings, 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 and www.stealthgrow.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). GrowLife is also the US distributor for the Urban Cultivator brand—the greens machine (www.urbancultivator.net).
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties, and actual results might differ materially. Examples of such forward-looking statements include management's projected 2013 revenue guidance, references to potential acquisitions, and other references to potential growth in the business. 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.