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.:</b>" data-reactid="70"> About GrowGeneration Corp.:

GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 21 stores, which include 5 locations in Colorado, 6 locations in California, 2 location in Nevada, 1 location in Washington, 3 locations in Michigan, 1 location in Rhode Island, 2 locations in Oklahoma, and 1 location in Maine. GrowGen also operates an online superstore for cultivators, located at HeavyGardens.com. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major legalized cannabis states in the U.S. and Canada. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. By 2020 the market is estimated to reach over $23 billion with a compound annual growth.

Forward Looking Statements:

This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com.

Connect:

Website: www.GrowGeneration.com
Facebook: GrowGenerationCorp
Twitter: @GrowGenOK
Instagram: @growgen

GROWGENERATION CORP. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

	December 31, 2018		December 31, 2017

ASSETS
Current assets:
Cash	$	14,639,981	$	1,215,265
Accounts receivable, net of allowance for doubtful accounts of $133,288 and $97,829 at December 31, 2018 and 2017		862,397		653,568
Inventory		8,869,469		4,585,341
Prepaid expenses and other current assets		606,037		711,852
Total current assets		24,977,884		7,166,026

Property and equipment, net		1,820,821		1,259,483
Intangible assets, net		114,155		53,286
Goodwill		8,752,909		592,500
Other assets		227,205		183,113
TOTAL ASSETS	$	35,892,974	$	9,254,408

LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	1,819,411	$	1,067,857
Other accrued liabilities		40,151		70,029
Payroll and payroll tax liabilities		410,345		247,887
Customer deposits		516,038		92,350
Sales tax payable		191,958		73,220
Current portion of long-term debt		436,813		41,707
Total current liabilities		3,414,716		1,593,050

Long-term convertible debt, net of debt discount and debt issuance costs		2,044,113		-
Long-term debt, net of current portion		375,626		82,537
Total liabilities		5,834,455		1,675,587

Commitments and contingencies

Stockholders' Equity:
Common stock; $.001 par value; 100,000,000 shares authorized; 27,948,609 and 16,846,835 shares issued and outstanding as of December 31, 2018 and 2017, respectively		27,949		16,846
Additional paid-in capital		38,796,562		11,254,212
Accumulated deficit		(8,765,992)		(3,692,237
Total stockholders' equity		30,058,519		7,578,821
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	35,892,974	$	9,254,408

GROWGENERATION CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Years Ended December 31,
	2018		2017

Sales	$	29,000,730	$	14,363,886
Cost of sales		22,556,172		11,094,331
Gross profit		6,444,558		3,269,555

Operating expenses:
Store operations		5,202,330		2,963,306
General and administrative		1,603,421		1,022,401
Share based compensation		1,895,219		1,077,932
Depreciation and amortization		351,070		151,561
Salaries and related expenses		1,648,166		904,868
Total operating expenses		10,700,206		6,120,068

Net loss from operations		(4,255,648)		(2,850,513)

Other income (expense):
Gain on settlements		-		322,058
Other income		115,875		1,633
Other expense		-		(421)
Interest income		79,184		-
Interest expense		(23,565)		(15,339)
Amortization of debt discount		(989,601)		-
Total non-operating income (expense), net		(818,107)		307,931

Net loss	$	(5,073,755)	$	(2,542,582)

Net loss per shares, basic and diluted	$	(.22)	$	(.18)

Weighted average shares outstanding, basic and diluted		23,492,650		14,510,582

Cision

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GrowGeneration Reports Record 2018 Revenues

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