WOODLAND HILLS, Calif., Jan. 22, 2013 /PRNewswire/ -- GrowLife Inc. (OTCBB: PHOT), a completely legal provider of highly effective indoor growing technologies that service the blossoming marijuana industry, today announced that the company's stock is now DTC eligible for electronic clearing and settlement of stock trading transactions.
The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC that manages the electronic clearing and settlement of publicly traded companies and other securities. DTC eligibility speeds up the receipt of stock and cash, thus accelerating the settlement process for investors at all levels.
"We are pleased to have obtained DTC eligibility as a part of our efforts to build shareholder value," said Sterling Scott, CEO of GrowLife Inc. "With our shares now traded electronically, existing investors benefit from greater liquidity and execution speeds, while we've also opened the door to new investors that may have been previously restricted from our stock."
GrowLife offers a wide array of products designed to serve this growing market, which are available on their website ( www.growlife.com) or at their online superstore www.greners.com, offering the lowest possible online prices. The most basic package for hobbyists starts at $479 and offers an automated single plant growing cabinet, while commercial growers are spending hundreds of thousands of dollars to custom fit their state of the art warehouse applications.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.