Growlife Inc (OTCMKTS:PHOT) CEO Marco Hegyi Obtains Contract Extension

Growlife Inc (OTCMKTS:PHOT) one of the country’s most popular indoor cultivation service provider firms, reported that its Board of Directors have permitted to extend Marco Hegyi’s employment contract for additional 2 years after extensive talks.

The highlights

Michael Fasci, the Chairman of Compensation Committee with Growlife, said that Hegyi has led company back to active trading platform from the Gray Sheet exchange, effectively maintained constructive and positive associations with customers, suppliers and shareholders, and enabled them to continue operating through the most challenging times. Therefore, with this employment extension, the company will uphold management continuity for the next 2 years under Hegyi’s leadership.

Hegyi joined company in 2013 as Growlife’s President. In 2014, shortly after joining the firm, the company was temporarily suspended from trading for 10 days by the U.S. SEC. The regulatory authority stated the reason as queries that have been raised on the adequacy and accuracy of information in the market and potentially manipulative transactions in company’s common stock.

In the same year, the Commission prosecuted and arrested four external individuals for manipulation of Growlife stock. No allegations by the Commission were ever made against company. As the CEO of the firm, Hegyi obtained the necessary financing to fund operations, managed the Commission procedure and completed almost 2-year journey to begin active trading.

Hegyi stated that Growlife is a great firm, from its employees to its clients and investors, with a thrilling future that deserves to gain from the increasing demand for indoor cultivation. The election was just one factor that can considerably increase firm’s product demand and market capacity.

There are several expansion opportunities for company, from serving large commercial cultivation clients and caregivers to the increasing number of home indoor growers, all who require the supplies, equipment, and expertise that GrowLife offers. Also, reliable and strong financing associates, acquisitions, service programs, increased partnerships and up-listing to OTCQB, can offer even greater growth.