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| Jason Spatafora |
July 13, 2016: In a desperate attempt to salvage public interest in their stock, Growlife, Inc. (
PHOT) yesterday filed a
Form D with the SEC to register 6 million shares issued to pump-and-dump specialist, Midam Ventures, LLC. Owned by Jason Spatafora, Midam is known for it's current pumps of Oxis International (
OXIS), Life Clips, Inc. (
LCLP) and IDDriven, Inc. (
IDDR), as well as the disastrous (to investors) pump-and-dump of FBEC Worldwide (
FBEC), which just happens to be controlled by Spatafora himself.
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| FBEC One Year Chat <click to enlarge> |
Spatafora is well-known for the obscenity-laced tirades he tweeted during his tenure as "The Wolf of Weed Street" in support of whatever stock ticker--usually a marijuana play-- he was trading at the time. Sellers were often referred to as "f***ing a**holes as was anyone who came up against him or the management of any company that did not make him look good. Spatafora was so successful at getting his followers to buy whatever piece of crap he was pushing, that the scum that run the penny stock world began to pay him for his efforts. "The Wolf of Weed Street" Twitter handle has since become "
Marijuana Stocks" which is also the name of one of the many email newsletters under which Spatafora promotes.
Spitafora, was once a great fan of
PHOT, or at least its stock, prior to the SEC's
suspension of trading for questions about the accuracy and adequacy of information in the marketplace and potentially manipulative transactions.
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Related: Now Is Not the Time to Get a PHOT in the Door
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| PHOT Chart <click to enlarge> |
Unable to shake the stigma of the trading suspension, a class action lawsuit, the Money Runners scheme or its ingrained relationship to the recently securities fraud charged Bruce Perlowin,
PHOTs share price has been unable to return to anything close to the levels of its heyday. In the past, the company has shown its willingness to do and say anything in order to facilitate the selling of insider stock, so it is no surprise that it was willing to hand a bunch of stock over to someone as despicable as Spitafora in an attempt to create a market for more dumping.
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Related: HEMP Smoked!
