PHOT: Groundbreaking news released!

by / Tuesday, 18 February 2014 / Published in Stock Blogs

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We have been ranting and raving about how you should look into medical marijuana stocks and now there is even a BIGGER reason to!

US Banks are allowing medical marijuana companies to have bank accounts in the states!

This is HUGE news for PHOT and all of the other medical marijuana companies we have talked about. Not to mention this is going to be HUGE for some banks as well!

This business is going to continue to grow with more and more states legalizing the distribution of medical marijuana, now is the time to make the move, imo!

Check out the news here:

Pot Businesses Allowed to Open Accounts With U.S. Banks

The U.S. government took a step toward legitimizing the marijuana industry, allowing U.S. banks to offer accounts and other services to businesses in states where medical or recreational pot sales are legal.

The Treasury’s Financial Crimes Enforcement Network issued guidelines for banks intended to reduce the danger that sellers face in operating an all-cash business. The rules would also give law enforcement more information about marijuana business activity, the agency said yesterday in a statement.

“The idea that we can get checks written for stuff and use our credit cards, and paying taxes online would be fantastic,” said Elliott Klug, 36, co-founder of PinkHouse Blooms LLC, a chain of medical-marijuana dispensaries in Denver. He said he’s been using cash to pay $30,000 to $40,000 a month in state and local taxes and fees.

Marijuana remains an illegal substance under federal law. The guidelines were sought by pot businesses and the governors of Colorado and Washington state, whose voters in 2012 approved the first sales of marijuana for recreational use. Twenty states also permit medical marijuana.

About PHOT: Growlife, Inc., through its subsidiaries, manufactures and markets horticulture and lifestyle products in the United States and internationally. It offers LED lights for indoor growing; wireless monitoring and control equipment to operate grow room functions; and plant growing systems and accessories, including nutrients, media, timers, controls, and automated water accessories. The company also produces club and theatre shows, music tours, and festivals; owns and operates specialty hydroponics stores in Los Angeles and Cotai, California; and operates cannabis.org, an information portal for the medical marijuana industry. In addition, it sells hydroponic equipment online. The company was formerly known as SG Technology LLC and changed its name to Growlife, Inc. in April 2012. Growlife Inc. is based in Carson, California.

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262 Responses to “PHOT: Groundbreaking news released!”

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    your stuff on social bookmarking sites like digg and reddit not to mention worrying about seo and blog design.this is a lot to consider as you will spend most of your day socializing, writing and managing your blog and your audience,

  255. Recent Blogroll …

    You may take a second to stop by the content from this web-sites we have linked to on this post…

  256. bloggers can also add links to their

    related articles that they want to showcase; and want other people to read.use trackbacks and pingbacks for promoting your blogs: comments play a very important role in blogging; especially when you want to build a rapport with the audience. although i…

  257. should be sharing your content. the analogy

    for blog writing versus content writing would be website versus web presence. they are both extremely important; however, the website fits into a box that fits into the web presence box just as the blogging box fits inside of the content

  258. not make your decision on becoming a

    successful writer based on your education.let’s begin with a tough question. have you written anything in your life that was published? drew attention? told a story that others liked and engaged in? we aren’t talking about paid gigs here. just writin…

  259. get free says :

    wordpress will help you develop your seo

    blog to be the best blog you can create! wordpress is a very popular blogging platform and many believe help their seo blog develop into a site that ranks. i find the best blogging platform you can use is indeed wordpress,

  260. Read was interesting, stay in touch….

    Very well written!

  261. Finding this site…

    Wow, this piece of writing is nice and very informative.

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