On Thursday of last week I was singing praises to Growlife Inc. (OTCBB:PHOT) for being able to put together such a strong management team. It already had a former Washington D.C.-based regulatory attorney in the fold as CEO (Sterling Scott), as well as a guy who brought a couple of key marijuana-related products to the market to serve as President of the company (the company president, Kyle Tracey, also happens to have a pretty thick industry-related rolodex). The big 'news' from PHOT then was the addition of Randy E. Breitman as the Director of Business Development. Breitman's background was as a real estate guy in the New Jersey/New York area, so he's been well-groomed to handle and close deals in what may be the toughest of market. Well, as at turns out, I could have waited three more days before explaining just how strong the PHOT management team was.
The difference between Growlife's leadership and, say that of competitors like Cannabis Science Inc. (OTCMKTS: CBIS) or Medical Marijuana Inc. (OTCMKTS: MJNA), has been relatively well documented here at the SmallCap Network site. I think the way I - well, someone else - put it back on June 25th says it best...."Growlife is sort of the demure girl in the corner who doesn't do shots off her navel in the bar." It may not have sizzle, but it does have substance.
Or, think about it like this: While other marijuana companies like Medical Marijuana or Cannabis Science are certainly making waves in the marijuana world, Growlife's management team is the only one I can see collectively scooping up, transplanting into an entirely new business in an entirely different field, and still being able to expect success. Right or wrong, fair or not, within the small cap world, the effectiveness of a leadership team is more important to investors than the business model, or a particular product or technology. The PHOT management team is the only name in the hemp arena that I would entrust money, not just because they know the marijuana business inside and out, but because they're just good business people.
That being said, the company added another one of those "good business people" today. John Genesi has been named as the CFO for Growlife Inc.
First and foremost, yeah, he's got the chops. Genisi's got two and a half decades of corporate finance leadership under his belt, including taking a company from nothing more than an idea to an operation with more than 100 employees and $30 million in annual revenue. Most of his experience is in the small-company realm too, which is surprisingly different - and trickier - than the work a CFO of a large corporation does on a day in and day out basis.
The bottom line is, Growlife Inc. already had a great management team in place. It just got a whole lot better with the addition of John Genesi. If nothing else, investors can rest easy knowing the company's in the hands of well qualified folks who are good business people in addition to being industry experts when it's needed. Small cap speculators should want both.
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