Phototron Holdings (OTC: PHOT) tanked further in today’s trading session, falling a dreadful 25.4% to a share price of $0.05. The volatility of the stock continues after the company’s recent announcement of forming a new subsidiary to capitalize on the medical entertainment and lifestyle industry.
Phototron has fallen a disheartening 66.7% since New Year’s Day. The stock did have a couple of notable rebounds in late May and earlier June, but volatility remains the theme for Phototron’s stock performance in 2012.
Here are some recent headlines for Phototron:
- June 27, 2012: Phototron Holdings announced that its wholly owned SG Sensors division launched beta testing for its state-of-the-art wireless sensors and controllers, designed for growers of all sizes in the medicinal marijuana industry.
- June 27, 2012: Phototron announced the formation of a new business unit – GrowLife Productions, to enhance its commitment to “Live to Grow, Grow to Live”. GrowLife Productions will focus on business opportunities in the entertainment and lifestyle market surrounding the medicinal cannabis industry.
- June 26, 2012: Phototron announced that its acquisition of Greners.com will close on July 9, 2012. Greners.com is a leading gardening website that sells everything from cutting and propagation to complete indoor lighting systems.
- May 8, 2012: Phototron announced that Bob Kurilko, a seasoned executive with over 25 years of experience in industry, agreed to join its Board of Directors.
Phototron Holdings was formerly known as Catalyst Lighting Group. The company was incorporated on March 7, 2001, and has been engaged in designing and manufacturing indoor mini-greenhouses capable of growing herb, vegetable, flower, fruit and terrestrial plants. The company also formulates and sells horticultural seeds, mineral nutrient solutions, growing mediums and germination kits to facilitate hydroponic gardening through the use of its Phototron Units. In addition, the company designs and manufactures replacement parts for its Phototron Units to facilitate moderate customization of the units.
Here is a brief history of Phototron’s formation and expansion:
- February 14, 2011: The company entered into a merger agreement with PHI Merger Corporation and its wholly owned subsidiary MergerCo, and Phototron.
- March 9, 2011: MergerCo was merged with Phototron, and Phototron became its wholly owned subsidiary.
- May 2011: It announced the launch of its wholly owned direct selling hydroponic gardening subsidiary, GrowLife.
- April 2012: The company merged with SG Technologies. A newly formed subsidiary of the company was merged with and into SG Technologies Corp.
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