Jul. 18, 2014, 4:32 PM
- Growlife (OTC:PHOT +12.5%) CFO John Genesi resigns. Under the terms of his Severance Agreement, the company issues him 6M shares of restricted common stock, pays him a cash severance equal to six months' compensation and provides health insurance benefits for six months.
- Former CEO Sterling Scott left in May.
Jun. 7, 2014, 4:16 PM
May 27, 2014, 10:00 AM
- Chairman and CEO Sterling Scott leaves GrowLife (PHOT) for personal reasons. President Marco Hegyi assumes his responsibilities.
May 16, 2014, 8:24 AM
Apr. 23, 2014, 10:52 AM
- San Francisco Assemblyman Tom Ammiano submits a bill to tighten the regulations governing the use of medical marijuana by adults. It would make it illegal for physicians to prescribe medical pot for patients they have not examined and bar prescriptions by doctors who have a financial stake in a pot dispensary.
- The assembly Public Safety Committee passed the bill yesterday.
- Somewhat controversial is the provision for the Department of Alcoholic Beverage Control to enforce the law. The California Narcotic Officers Association cites the irony in allowing an agency with regulatory responsibility over the use of recreational substances to regulate medical products. The senate version specifies the state health department as the regulator.
- The bill, if passed, could lay the groundwork for a tax-and-control scheme for recreational pot use similar to Colorado and Washington.
- (MDBX) (CANN) (AERO) (PHOT)
Apr. 11, 2014, 9:26 AM| Apr. 11, 2014, 9:26 AM | 18 Comments
Apr. 10, 2014, 1:44 PM
- The SEC halts trading in Growlife (PHOT) over the accuracy and adequacy of information in the marketplace and over possible manipulative transactions in the stock.
- The agency's action follows its recent suspension of Advanced Cannabis Solutions (CANN -48%) . Since trading resumed shares are down almost 50% from their early March highs.
- Another superb example of the Wild West nature of trading in pot stocks is CannaVest (CANV -6.5%). Shares currently trade hands for almost 75% less than they did in early March.
- Cannabis industry bulls might consider consuming the product to combat the nausea caused by the stomach-churning volatility.
Mar. 25, 2014, 11:44 AM
- DirectView Holdings (DIRV) will open a Colorado office in April to support its cannabis industry security and surveillance business.
- Growlife (PHOT) extends its due diligence completion date to April 4 regarding its technology distribution deal with RXNB.
- Nuvilex (NVLX) contracts with Austrianova Singapore to perform cGMP-compliant encapsulation of live cells for its inoperable pancreatic cancer clinical trials.
- IMD Companies (ICBU) implements a network interface into its environmental controller to allow remote grow room monitoring.
- Supreme Pharmaceuticals (SPRWF) signs a 12-month purchase option agreement for a medical marijuana producer for $1M.