Penny Stocks on the Move: Growlife Inc (OTC:PHOT), Medical Marijuana Inc (PINK:MJNA)

New York, NY -- (SBWIRE) -- 02/20/2013 -- StockRunway.com carries hot penny stock in news, which attracted investor’s through their hotheaded performance; Growlife Inc (OTC:PHOT) and Medical Marijuana Inc (PINK:MJNA) are in News.

Growlife Inc (OTC:PHOT) showed a negative move for the day after announcing that it has come into a strategic licensing letter of intent with GrowLife Consulting Colorado, LLC ("GLCC").

According to this agreement, GLCC is certified to use the name "GrowLife" in Colorado, as well as certain intellectual property and technology rights after paying licensing fees. This agreement of Growlife Inc (OTC:PHOT) with GLCC delivers the company with an option to attain ownership in GLCC. The LOI between both companies GrowLife and GLCC is planned to close on March 8, 2013.

Why Should Investors Buy PHOT After the Recent Fall? Just Go Here and Find Out

The company traded volume of 12.82 million shares on Tuesday’s trading session and its average volume is 11.61 million shares. Stock’s year to date performance is quite positive as it scored more than 110%, during previous three month’s trade the company moved up with the gain of 55.6% while in last 5 day’s it scored the percentage of 6.58%. It has 343.57 million shares outstanding.

Medical Marijuana Inc (PINK:MJNA) remained among the decliners of the day, as its shares dropped -5.88% after opening at the price of $0.30. Stock’s overall trading volume during previous trading session was 27.39 million shares above than its average trading volume of 22.50 million shares. Its Beta value stood at 5.70 points.

Has MJNA Found The Bottom And Ready To Gain Momentum? Find Out Here

Medical Marijuana Inc (MJNA) has released its annual shareholders report including the 2012 financial statements with audited fourth quarter financials (Post 2/19/2013- OTC Markets). Total net income of the company remained almost $7.1 million on record gross revenues of $12.38 million for the whole fiscal year which ended on December 31, 2012. It has a total market capitalization of 258.64 million while its total outstanding shares are 808.24 million, its price to earnings ratio is 80.00.

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