4//SEC Filing
GROWLIFE, INC. 4
Accession 0001548026-14-000002
$PHOTCIK 0001161582operating
Filed
Oct 14, 8:00 PM ET
Accepted
Oct 15, 5:08 PM ET
Size
6.8 KB
Accession
0001548026-14-000002
Insider Transaction Report
Form 4
GROWLIFE, INC.PHOT
Scott Sterling C.
DirectorCEO, President, and Secretary10% Owner
Transactions
- Sale
Common Stock
2014-10-09$0.05/sh−2,446,900$122,345→ 48,599,499 total
Footnotes (3)
- [F1]Footnote (1) will be divided into (A) and (B) - (A) Excludes the Note, the Jordan Note, and the Andrew Note (each as hereinafter defined). On September 10, 2014, Sterling Scott sold his entire interest in that certain 6% Senior Secured Convertible Note (the "Note") to Jordan Wedam Scott ("Jordan") and Andrew J. Gentile ("Andrew") in a private transaction for $413,680, which Note was originally issued by GrowLife, Inc., a Delaware corporation (formerly known as Phototron Holdings, Inc.) (the "Company") on April 5, 2012, to Mr. Scott. As of September 10, 2014, the Note and all accrued and unpaid interest on the Note was convertible into 68,247,565 shares of common stock of the Company. Jordan is Sterling Scott's independent adult son.
- [F2]Footnote 1 (B) - There is no family or other relationship between Andrew and Sterling Scott. As a result of that sale, the Note was split up so that in its place GrowLife issued to (i) Jordan a new 6% Senior Secured Convertible Note in the principal amount of $263,680 with the original issue date of March 16, 2013, amended September 10, 2014 (the "Jordan Note"), and (ii) Andrew a new 6% Senior Secured Convertible Note in the principal amount of $150,000 with the original issue date of March 16, 2013, amended September 10, 2014 (the "Andrew Note"). As a result of that transaction, Sterling Scott holds -0- derivate securities in the Company.
- [F3]Footnote (2) - Following the transaction, Sterling Scott still beneficially owns 48,599,499 shares of common stock, of which Sterling Scott's wife owns 1,598,981 shares, representing 5.1% of the outstanding stock of the Company.
Documents
Issuer
GROWLIFE, INC.
CIK 0001161582
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001161582
Filing Metadata
- Form type
- 4
- Filed
- Oct 14, 8:00 PM ET
- Accepted
- Oct 15, 5:08 PM ET
- Size
- 6.8 KB