Posted On: 04/24/2014 7:17:53 PM
Post# of 1149
My further questions/concerns with the statement.
Therefore Growlife is not currently under investigation.
1. Are the Directors or Officers under investigation?
2. Has Growlife been the subject of an investigation now concluded?
It was a suspension, not a halt. Concerns about possible plans of 3rd parties sounds very unlikely to me as grounds for suspension of an uninvolved company, and it is phrased in such a way as to permit complete denial of responsibility for the truth of the statement.
Quote:
GrowLife understands that trading in GrowLife securities will resume during market hours on Friday, April 25, 2014. The SEC has informed GrowLife through counsel that it is not the subject of an informal or formal investigation. The SEC has not requested any documents from the company or its Board. Nor have they issued GrowLife any subpoenas or broad requests for information.
Therefore Growlife is not currently under investigation.
1. Are the Directors or Officers under investigation?
2. Has Growlife been the subject of an investigation now concluded?
Quote:
It appears, from counsel's discussions with the SEC's staff, that the SEC suspension was prompted by concerns that some 3(rd) party holder(s) of GrowLife stock may have been planning to engage in some form of manipulative promotional activity.
It was a suspension, not a halt. Concerns about possible plans of 3rd parties sounds very unlikely to me as grounds for suspension of an uninvolved company, and it is phrased in such a way as to permit complete denial of responsibility for the truth of the statement.
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