CALIFORNIA: People will soon be able to purchase marijuana legally in Colorado and Washington State. Who will get high, financially speaking, from this emerging market? One aspiring company is GrowLife (PHOT), a publicly traded business in Woodland Hills, Calif., with cheeky ticker symbol PHOT. It doesn’t actually sell pot; it caters to marijuana growers, dealing them hydroponic gardening equipment. More intriguingly, GrowLife wants to be their lender.
I talked to Rob Hunt, executive vice president of GrowLife (and his public-relations guy, Kurt Divich), about the company’s big plans and the last time he got stoned. The following transcript has been edited and condensed.
What exactly are you guys selling at GrowLife?
Rob Hunt: We sell hydroponics and organic equipment to be used in [marijuana] cultivation facilities.
How is the business going?
It’s definitely an accelerating growth stage right now.
And you guys have a bunch of stores?
Yeah, we’ve got seven bricks-and-mortar stores right now between the states of Maine, New Hampshire, Massachusetts, Colorado, and California.
Do you sell any R. Crumb underground comics ?
Underground comics? No, we don’t.
Any bongs or anything like that?
No, no, no. We stayed away from the paraphernalia side.
Kurt Divich: GrowLife is a good-size business looking to be a very large business. The company just got a $40 million capital infusion to help small and midsize growers go to the next level.