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GrowOp Technology, LTD IPO
From the GrowOp Technology website:
Oakland, CA based agricultural solutions provider, GrowOp Technology Ltd is set to launch a revolutionary new series of indoor hydroponic and agricultural equipment. GrowOp is a national distributer and creator of the world's leading portable hydroponic cultivation units the BIG BUD, and the little BUD. GrowOp is planning to take to the company to the public markets in 2011.
This growing industry is about to sprout onto Wall Street and take the markets by storm. GrowOp Technology Ltd, who has been featured in the NY Times, London Times, CNBC and others, intends to capitalize on this growth industry while giving the public a chance to go along for the ride. GrowOp's founder, Derek Peterson, explains that he is excited about the prospects and growth in the hydroponics industry. “California alone has over 500 hydroponic retailers representing more than $250 million in annual sales. Nationally this billion dollar a year economy has experienced annual growth rates north of 40% over the last several years. You can't find that anywhere else on Wall Street these days.”
With the legalization of medicinal marijuana in many states, indoor cultivation has exploded. The city of Oakland, CA and the state of Maine are licensing large-scale cultivation facilities that will increase the demand for these types of products exponentially. “Companies with the best designs and most innovative products are set to dominate this industry” say's GrowOp's Chief Designer and LEED accredited architect Edward Piatt.
The last decade on Wall Street was volatile and has lacked a single sector leader since the Dot.com era. Medical Cannabis is poised to become that next sector and companies like GrowOp Technology are uniquely positioned to benefit from that growth. National Geographic, Frontline, BBC and others are currently filming documentaries featuring GrowOp Technology Ltd and the emergence of Medical Cannabis as a legitimate industry. GrowOp is currently engaged with investment banks to facilitate their move into the public markets.
247wallstreet.com reports in:
"A California company called GrowOp Technology Ltd. plans to have an IPO later this year.
...Derek Peterson, GrowOp’s founding-CEO and a director, was an investment banker at Wachovia and Morgan Stanley. Clearly, he is not blowing smoke. GrowOp is based in Oakland, Calif. and is the technology behind hydroponic growing systems and it has retail branded franchises in the works.
...Peterson indicated that the company has close to 40 private shareholders who have invested nearly $1 million in aggregate and those holders currently own about 22% of the company with options to boost their stake up to 30%. GrowOp is also looking at a mini-max financing round of financing before the IPO, and Peterson said the company is “in the ninth inning of the IPO process after its audit is completed.”"
GrowBot Technology, LLC
Irvine Corporate Headquarters
Lakeshore Towers, 18101 Von Karman, 3rd Floor Irvine, CA 92612
Oakland Distribution Headquarters
5401-C San Leandro St. Oakland, CA 94601