{"id":379016,"date":"2020-11-11T16:18:16","date_gmt":"2020-11-11T21:18:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379016"},"modified":"2020-11-11T16:18:16","modified_gmt":"2020-11-11T21:18:16","slug":"growgeneration-reports-record-third-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/growgeneration-reports-record-third-quarter-2020-financial-results\/","title":{"rendered":"GrowGeneration Reports Record Third Quarter 2020 Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <b><br \/>\n          <i>Record Revenues of <span class=\"xn-money\">$55.0 Million<\/span>, Adjusted EBITDA of <span class=\"xn-money\">$6.6 Million<\/span>, and <br \/>Pre-Tax Net Income of <span class=\"xn-money\">$5.1 Million<\/span><\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>2020 full-year revenue guidance increased to <span class=\"xn-money\">$185<\/span>&#8211;<span class=\"xn-money\">$190 million<\/span><\/b>\n        <\/li>\n<li>\n          <b>2020 full-year adjusted EBITDA guidance updated to <span class=\"xn-money\">$19.0 million<\/span>&#8211;<span class=\"xn-money\">$20.0 million<\/span><\/b>\n        <\/li>\n<li>\n          <b>2020 full-year GAAP pre-tax net income guidance for 2020 is <span class=\"xn-money\">$9.0 million<\/span>&#8211;<span class=\"xn-money\">$11.0 million<\/span><\/b>\n        <\/li>\n<li>\n          <b>2021 full-year revenue guidance updated to <span class=\"xn-money\">$280 million<\/span>&#8211;<span class=\"xn-money\">$300 million<\/span><\/b>\n        <\/li>\n<li>\n          <b>2021 full-year adjusted EBITDA guidance for 2021 increased to <span class=\"xn-money\">$34.0 million<\/span>&#8211;<span class=\"xn-money\">$36.0 million<\/span><\/b>\n        <\/li>\n<\/ul>\n<p>\n        <span class=\"xn-location\">DENVER<\/span>, <span class=\"xn-chron\">Nov. 11, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978035-1&amp;h=2878009265&amp;u=http%3A%2F%2Fgrowgeneration.com%2F&amp;a=GrowGeneration\" rel=\"nofollow noopener noreferrer\">GrowGeneration<\/a>\u00a0Corp. (NASDAQ: GRWG), (&#8220;GrowGen&#8221; or the &#8220;Company&#8221;), the largest chain of specialty hydroponic and organic garden centers with 31 locations across 11 states, today reported record third quarter 2020 revenues of <span class=\"xn-money\">$55.0 million<\/span>, versus <span class=\"xn-money\">$21.8 million<\/span> in the same period last year. This represents the Company&#8217;s eleventh consecutive quarter of record revenues. Third quarter 2020 adjusted EBITDA of <span class=\"xn-money\">$6.6 million<\/span> compares to <span class=\"xn-money\">$2.0 million<\/span> in the same period last year. The Company also reported record third quarter 2020 GAAP pre-tax net income of approximately <span class=\"xn-money\">$5.1 million<\/span>, compared to pre-tax net income of <span class=\"xn-money\">$1.0 million<\/span>, in the same period last year. As the Company continues to outpace guidance, it is increasing 2020 revenue guidance to <span class=\"xn-money\">$185 million<\/span>&#8211;<span class=\"xn-money\">$190 million<\/span>, and adjusted EBITDA to <span class=\"xn-money\">$19.0 million<\/span>&#8211;<span class=\"xn-money\">$20.0 million<\/span>. Revenue and adjusted EBITDA guidance for 2021 increases to <span class=\"xn-money\">$280 million<\/span>&#8211;<span class=\"xn-money\">$300 million<\/span>, and <span class=\"xn-money\">$34 million<\/span>&#8211;<span class=\"xn-money\">$36 million<\/span>, respectively. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1331815\/GrowGeneration_GrowGeneration_Reports_Record_Third_Quarter_2020.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1331815\/GrowGeneration_GrowGeneration_Reports_Record_Third_Quarter_2020.jpg\" title=\"GrowGeneration Reports Record Third Quarter 2020 Financial Results&#xA;Record Revenues of $55.0 Million, Adjusted EBITDA of $6.6 Million, and Pre-Tax Net Income of $5.1 Million (CNW Group\/GrowGeneration)\" alt=\"GrowGeneration Reports Record Third Quarter 2020 Financial Results&#xA;Record Revenues of $55.0 Million, Adjusted EBITDA of $6.6 Million, and Pre-Tax Net Income of $5.1 Million (CNW Group\/GrowGeneration)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>&#8220;Our steadfast focus on rapid, strategic growth in key markets, both organically and through acquisitions, has resulted in our eleventh consecutive quarter of record revenues and EBITDA,\u00a0said <span class=\"xn-person\">Darren Lampert<\/span>, GrowGen&#8217;s co-founder and CEO. &#8220;We are building a best-in-class team of grow professionals, a robust e-commerce platform, and an insight-driven retail footprint targeting both established and emerging markets. The results of the recent elections, combined with our proven ability to scale while reducing operational costs, will allow us to grow our revenue and expand our bottom line into the following quarters. We have raised our guidance accordingly.&#8221;<\/p>\n<p>\n        <b>Financial Highlights for Third Quarter 2020 Compared to Third Quarter 2019<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Revenues rose 153% to <span class=\"xn-money\">$55.0 million<\/span>, for third quarter 2020, versus <span class=\"xn-money\">$21.8 million<\/span> for the same period last year <\/li>\n<li>Same-store sales were <span class=\"xn-money\">$33.4 million<\/span> for third quarter 2020, versus <span class=\"xn-money\">$19.2 million<\/span> for third quarter 2019, a 73% increase year over year <\/li>\n<li>Adjusted EBITDA of <span class=\"xn-money\">$6.6 million<\/span> for third quarter 2020, versus <span class=\"xn-money\">$2.0 million<\/span> for third quarter 2019, an increase of 230% year over year, or <span class=\"xn-money\">$.14<\/span> per share basic for third quarter 2020 versus <span class=\"xn-money\">$.06<\/span> per share basic for the same period last year <\/li>\n<li>Gross profit margin for third quarter 2020 was 26.5% compared to 29.9% in the same quarter last year; the decrease in margin is attributable to a larger percentage of revenue from our expanding commercial and e-commerce business segments <\/li>\n<li>Gross profit was <span class=\"xn-money\">$14.6 million<\/span> for third quarter 2020, compared to <span class=\"xn-money\">$6.5 million<\/span> for the same period last year, an increase of 124% year over year <\/li>\n<li>Store operating costs, as a percentage of sales, was 9.0 % for third quarter 2020, compared to 12.6% for the same period last year, an improvement of 28% year over year <\/li>\n<li>Income from store operations was <span class=\"xn-money\">$9.6 million<\/span> for third quarter 2020, versus <span class=\"xn-money\">$3.8 million<\/span> for the same period last year, an increase of 156% year over year <\/li>\n<li>Income from store operations as a percentage of revenue was 17.4% for the third quarter 2020 <\/li>\n<li>Online sales increased by 112% in the third quarter when compared to the same quarter last year <\/li>\n<li>The commercial division generated over <span class=\"xn-money\">$13.0 million<\/span> in revenues, an increase of 188% in the third quarter 2020 versus the same period last year <\/li>\n<li>GrowGen&#8217;s private-label line of products surpassed <span class=\"xn-money\">$1.0 million<\/span> in sales in the third quarter <\/li>\n<li>Corporate payroll and general and administrative expense, excluding non-cash operating expenses, as a percentage of revenue, was 5.5% for third quarter 2020 versus 8.4% for the same period last year, an improvement of 34% year over year <\/li>\n<li>Pre-tax net income was <span class=\"xn-money\">$5.1 million<\/span> for the third quarter 2020 versus <span class=\"xn-money\">$1.0 million<\/span> for the same period last year <\/li>\n<li>GAAP net income was <span class=\"xn-money\">$3.3 million<\/span>, or <span class=\"xn-money\">$0.07<\/span> per share basic, for third quarter 2020 compared to net income of <span class=\"xn-money\">$1.0 million<\/span>, or <span class=\"xn-money\">$0.03<\/span> per share basic, for same period last year, an increase of 133% year over year<\/li>\n<\/ul>\n<p>\n        <b>Nine-Month Financial Results <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Revenues rose 142% to <span class=\"xn-money\">$131.4 million<\/span> for the first nine-months of 2020 compared to <span class=\"xn-money\">$54.3 million<\/span> for same period last year <\/li>\n<li>Same-store sales increased 59% to <span class=\"xn-money\">$52.4 million<\/span> for the first nine months of 2020 compared to <span class=\"xn-money\">$33.0 million<\/span> for same period last year <\/li>\n<li>Adjusted EBITDA rose 208% to <span class=\"xn-money\">$13.4 million<\/span>, or <span class=\"xn-money\">$0.32<\/span> per share, for the first nine months of 2020 compared to <span class=\"xn-money\">$4.3 million<\/span>, or <span class=\"xn-money\">$0.14<\/span> per share, for same period last year <\/li>\n<li>Gross profit for the first nine months of 2020 grew 119% to <span class=\"xn-money\">$35 million<\/span> compared to <span class=\"xn-money\">$16 million<\/span> in the same period last year <\/li>\n<li>Gross profit margin for the first nine months of 2020 was 27% <\/li>\n<li>Income from store operations grew 161% to <span class=\"xn-money\">$22.6 million<\/span> for the first nine months of 2020 compared to <span class=\"xn-money\">$8.6 million<\/span> for the same period last year <\/li>\n<li>Pre-tax net income was <span class=\"xn-money\">$5.8 million<\/span> for the first nine months of 2020 compared to <span class=\"xn-money\">$2.3 million<\/span> for same period last year <\/li>\n<li>GAAP net income for the first nine months of 2020 was <span class=\"xn-money\">$3.8 million<\/span>, or <span class=\"xn-money\">$0.09<\/span> per share, versus <span class=\"xn-money\">$2.3 million<\/span>, or <span class=\"xn-money\">$0.07<\/span> per share, for the same period last year, a 63% increase <\/li>\n<li>Online sales increased by 140% to <span class=\"xn-money\">$7.4 million<\/span>, for the first nine months of 2020 compared to <span class=\"xn-money\">$3.1 million<\/span> for the same period last year <\/li>\n<li>The commercial division generated over <span class=\"xn-money\">$32.7 million<\/span> in revenues, an increase of 200% for the first nine months of 2020 compared to <span class=\"xn-money\">$10.9 million<\/span> the same period last year <\/li>\n<\/ul>\n<p>\n        <b>Working Capital and Cash<\/b>\n      <\/p>\n<p>As previously announced on <span class=\"xn-chron\">July 2, 2020<\/span>, we closed on a <span class=\"xn-money\">$48 million<\/span> upsized follow-on public offering with Oppenheimer &amp; Co. Inc. acting as the sole book-running manager for the Offering. Ladenburg Thalmann &amp; Co. Inc. and Lake Street Capital Markets, LLC\u00a0acted as co-managers for the Offering. The Company is using this capital from the Offering primarily to expand its network of hydroponic garden centers through organic growth and acquisitions, build-out new GrowGeneration hydroponic garden centers in new markets such as <span class=\"xn-location\">New Jersey<\/span>, <span class=\"xn-location\">New York<\/span>, <span class=\"xn-location\">Pennsylvania<\/span> and <span class=\"xn-location\">Ohio<\/span>, and complete our national distribution network adding <span class=\"xn-location\">Los Angeles<\/span>, <span class=\"xn-location\">Miami<\/span> and New England. <\/p>\n<ul type=\"disc\">\n<li>Working capital was <span class=\"xn-money\">$83 million<\/span> on <span class=\"xn-chron\">September 30, 2020<\/span> compared to <span class=\"xn-money\">$30.6 million<\/span> at <span class=\"xn-chron\">December 31, 2019<\/span><\/li>\n<li>Cash on <span class=\"xn-chron\">September 30, 2020<\/span> was <span class=\"xn-money\">$55.3 million<\/span>, cash on <span class=\"xn-chron\">December 31, 2019<\/span> was <span class=\"xn-money\">$12.98 million<\/span>, and cash as of <span class=\"xn-chron\">November 2, 2020<\/span> was <span class=\"xn-money\">$50.4 million<\/span><\/li>\n<li>Proceeds from the sale of common stock and warrants were <span class=\"xn-money\">$44.9 million<\/span> for third quarter 2020<\/li>\n<\/ul>\n<p>\n        <b>M&amp;A Activity<\/b>\n      <\/p>\n<p>Our merger and acquisition pipeline is the most active it has been since the Company&#8217;s inception. As announced on <span class=\"xn-chron\">November 2, 2020<\/span>, the Company signed an asset purchase agreement to acquire The GrowBiz, the nation&#8217;s third-largest chain of hydroponic garden centers. The GrowBiz is a <span class=\"xn-money\">$50 million<\/span> chain of five garden centers and when completed, will increase the total count of GrowGen garden centers to 36. <\/p>\n<p>As we have often stated, the Company&#8217;s corporate goal is to reach 50 garden centers and 15 states in 2021, and we made significant progress towards this goal in the third quarter.<\/p>\n<p>\n        <b>Recent Events<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>On <span class=\"xn-chron\">August 10,2020<\/span>, the Company purchased the assets of Emerald City Garden, located in <span class=\"xn-location\">Concord, California<\/span><\/li>\n<li>On <span class=\"xn-chron\">October 12, 2020<\/span>, the Company purchased the assets of Hydroponics Depot, located in <span class=\"xn-location\">Phoenix, Arizona<\/span>, expanding our geographic footprint to 11 states <\/li>\n<li>On <span class=\"xn-chron\">October 20, 2020<\/span>, the Company purchased the assets of The Big Green Tomato, a two-store chain in <span class=\"xn-location\">Battle Creek<\/span> and <span class=\"xn-location\">Taylor, Michigan<\/span><\/li>\n<li>On <span class=\"xn-chron\">October 29, 2020<\/span>, the Company signed an asset purchase agreement to acquire the third-largest chain of hydroponic garden centers in the US, The GrowBiz, with five stores in <span class=\"xn-location\">California<\/span> and <span class=\"xn-location\">Oregon<\/span><\/li>\n<\/ul>\n<p>\n        <b>COVID-19 Response<\/b>\n      <\/p>\n<p>The Company continues to be mindful of the COVID-19 pandemic that is besieging society, leaving no one unaffected. We are thankful for the dedication of health care workers and first responders, as well as the essential workers who are keeping our communities running.\u00a0 <\/p>\n<p>As a result of the Company&#8217;s first-rate preparedness, all personnel have been working at full capacity since mid-March and Company management has been inspired by the efforts and dedication of GrowGen&#8217;s team as they have worked tirelessly to service our customers and communities. <\/p>\n<p>\n        <b>Conference Call<\/b>\n      <\/p>\n<p>The company will host a conference call on <span class=\"xn-chron\">November 12, 2020<\/span> at <span class=\"xn-chron\">9:00AM Eastern Time<\/span>.\u00a0 To participate in the call, please dial (888)-664-6383 (domestic). Participants should request the GrowGeneration Earnings Call or provide confirmation code: 96567037.\u00a0 This call is being webcast and can be accessed on the Investor Relations section of GrowGeneration website at: <br \/><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978035-1&amp;h=4245187640&amp;u=https%3A%2F%2Fir.growgeneration.com%2Fnews-events%2Fir-calendar&amp;a=https%3A%2F%2Fir.growgeneration.com%2Fnews-events%2Fir-calendar\" rel=\"nofollow noopener noreferrer\">https:\/\/ir.growgeneration.com\/news-events\/ir-calendar<\/a>.\u00a0\u00a0<\/p>\n<p>A replay of the webcast will be available approximately two hours after the conclusion of the call and remain available for approximately 90 calendar days.<\/p>\n<p>\n        <b>A<\/b><br \/>\n        <b>b<\/b><br \/>\n        <b>out GrowGeneration<\/b><br \/>\n        <b> Corp.<\/b><br \/>\n        <b>:<\/b>\n      <\/p>\n<p>GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 31 stores, which include 5 locations in <span class=\"xn-location\">Colorado<\/span>, 6 locations in <span class=\"xn-location\">California<\/span>, 2 locations in <span class=\"xn-location\">Nevada<\/span>, 1 location in <span class=\"xn-location\">Washington<\/span>, 6 locations in <span class=\"xn-location\">Michigan<\/span>, 1 location in <span class=\"xn-location\">Rhode Island<\/span>, 4 locations in <span class=\"xn-location\">Oklahoma<\/span>, 1 location in <span class=\"xn-location\">Oregon<\/span>, 3 locations in <span class=\"xn-location\">Maine<\/span>, 1 location in <span class=\"xn-location\">Florida<\/span>, and 1 location in <span class=\"xn-location\">Arizona<\/span>. GrowGen also operates an online superstore for cultivators, located at\u00a0 www.growgeneration.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 states in the US and <span class=\"xn-location\">Canada<\/span>. Management estimates that roughly 1,000 hydroponic stores are in operation in the US. By 2025, the global hydroponics system market is estimated to reach approximately <span class=\"xn-money\">$16 billion<\/span>.<\/p>\n<p>\n        <b>Forward Looking Statements:<br \/><\/b>\n      <\/p>\n<p>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 &#8220;look forward,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;building,&#8221; 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: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978035-1&amp;h=2265362257&amp;u=http%3A%2F%2Fwww.sec.gov%2Fedgar%2Fsearchedgar%2Fcompanysearch.html&amp;a=www.sec.gov%2C\" rel=\"nofollow noopener noreferrer\">www.sec.gov,<\/a>\u00a0and on our website, at: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978035-1&amp;h=1530377247&amp;u=http%3A%2F%2Fwww.growgeneration.com%2F&amp;a=www.growgeneration.com\" rel=\"nofollow noopener noreferrer\">www.growgeneration.com<\/a>.<\/p>\n<p>\n        <b>Use of Non-GAAP Financial Information<br \/><\/b>The Company believes that the presentation of results excluding certain items in &#8220;Adjusted EBITDA,&#8221; such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles.<\/p>\n<p>Set forth below is a reconciliation of Adjusted EBITDA to net income:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September\u00a030, <br \/>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, <br \/>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,337,333<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,049,699<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,775,801<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">142<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,067<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation and Amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbt1 prngen7\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">443,578<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">247,715<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,556,854<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,324,481<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share based compensation (option compensation, warrant compensation, stock issued for services)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,022,137<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">553,492<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of debt discount<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">114,210<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,578,991<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,992,183<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA per share, basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.14<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.06<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA per share, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.13<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"6\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, <br \/>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30, <br \/>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,817,758<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,341,120<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,955,113<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,728<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,757<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation and Amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,270,398<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">538,847<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,062,997<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,915,724<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share based compensation (option compensation, warrant compensation, stock issued for services)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,324,109<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,075,735<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Amortization of debt discount<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen7\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">356,306<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,387,106<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,347,765<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA per share, basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.32<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.14<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted EBITDA per share, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.30<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.13<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"8\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>GROWGENERATION CORPORATION AND SUBSIDIARIES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED BALANCE SHEETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30,<br \/>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December\u00a031, <br \/>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Unaudited)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ASSETS<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current assets:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,347,450<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,979,444<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts receivable (net of allowance for credit losses of $364,262 and $291,372, respectively)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,246,521<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,455,209<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inventory, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,847,421<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,659,357<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,537,083<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,549,559<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnml6\">\n                <span class=\"prnews_span\">Total current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">103,978,475<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42,643,569<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,488,922<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,340,616<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating leases right-of-use assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,109,184<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,628,591<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Deferred income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Intangible assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">864,219<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">233,280<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Goodwill<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,925,084<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,798,932<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">336,149<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">377,364<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">TOTAL ASSETS<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">139,702,033<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72,022,352<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LIABILITIES &amp; STOCKHOLDERS&#8217; EQUITY<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current liabilities:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,452,252<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,024,750<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other accrued liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">119,810<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Payroll and payroll tax liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,943,328<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,072,142<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Customer deposits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,469,581<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,503,785<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales tax payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">901,900<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">533,656<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income taxes payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,927,805<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current maturities of operating leases liability<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,037,537<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,836,700<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current maturities of long-term debt<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">88,049<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">110,231<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnml6\">\n                <span class=\"prnews_span\">Total current liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,940,262<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,081,264<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating leases liability, net of current maturities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,307,463<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,807,266<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Long-term debt, net of current maturities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">189,333<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">242,079<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnml6\">\n                <span class=\"prnews_span\">Total liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,437,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,130,609<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Commitments and contingencies<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Stockholders&#8217; Equity:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Common stock; $.001 par value; 100,000,000 shares authorized; 48,412,292 and 36,876,305 shares issued and outstanding, respectively<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48,412<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36,876<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Additional paid-in capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">115,285,993<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60,742,055<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accumulated deficit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,069,430)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,887,188)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n<p class=\"prnml6\">\n                <span class=\"prnews_span\">Total stockholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">112,264,975<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">53,891,743<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">139,702,033<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72,022,352<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnsbt0 prnsbr0 prnbcc prnsbb0 prnsbl0\">\n<tr>\n<td colspan=\"17\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>GROWGENERATION CORPORATION AND SUBSIDIARIES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"17\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONSOLIDATED STATEMENT OF OPERATIONS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"17\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Unaudited)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"17\" class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"7\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Three Months Ended<br \/>September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntac prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td colspan=\"7\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Nine Months Ended<br \/>September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen22\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,007,475<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,778,487<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">131,440,820<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">54,349,092<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,436,707<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,276,906<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">96,338,467<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,340,670<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,570,768<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,501,581<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,102,353<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,008,422<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Store operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,972,058<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,744,199<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,523,594<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,360,525<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">857,943<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">803,707<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,244,682<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,928,020<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share based compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,022,137<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">553,492<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,324,109<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,075,735<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Depreciation and amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">443,578<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">247,715<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,270,398<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">538,847<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Salaries and related expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,175,276<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,020,627<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,944,427<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,449,733<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen29\">\n<p class=\"prnml6\">\n                <span class=\"prnews_span\">Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,470,992<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,369,740<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,307,210<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,352,860<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income from operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,099,776<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,131,841<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,795,143<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,655,562<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income (expense):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(142)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(141,277)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,728)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(392,063)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,562<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">60,973<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72,605<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">95,256<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(34,062)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,838)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(75,149)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,635)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen29\">\n<p class=\"prnml6\">\n                <span class=\"prnews_span\">Total non-operating income (expense), net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,358<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(82,142)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(22,272)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(314,442)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income before taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,113,134<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,049,699<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,772,871<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,341,120<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Provision for income taxes<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,775,801)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,955,113)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen25\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,337,333<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,049,699<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,817,758<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,341,120<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income per shares, basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.07<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.03<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.09<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.07<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net income per shares, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.06<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.03<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.09<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">.07<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prntal prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average shares outstanding, basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">47,878,011<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,707,788<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,477,438<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,523,679<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average shares outstanding, diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">51,626,134<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37,606,678<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">44,223,683<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td class=\"prngen32\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,191,027<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA87872&amp;sd=2020-11-11\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/growgeneration-reports-record-third-quarter-2020-financial-results-301171176.html\">http:\/\/www.prnewswire.com\/news-releases\/growgeneration-reports-record-third-quarter-2020-financial-results-301171176.html<\/a><\/p>\n<p>SOURCE  GrowGeneration<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=VA87872&amp;Transmission_Id=202011111615PR_NEWS_USPR_____VA87872&amp;DateId=20201111\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Record Revenues of $55.0 Million, Adjusted EBITDA of $6.6 Million, and Pre-Tax Net Income of $5.1 Million 2020 full-year revenue guidance increased to $185&#8211;$190 million 2020 full-year adjusted EBITDA guidance updated to $19.0 million&#8211;$20.0 million 2020 full-year GAAP pre-tax net income guidance for 2020 is $9.0 million&#8211;$11.0 million 2021 full-year revenue guidance updated to $280 million&#8211;$300 million 2021 full-year adjusted EBITDA guidance for 2021 increased to $34.0 million&#8211;$36.0 million DENVER, Nov. 11, 2020 \/PRNewswire\/ &#8212;\u00a0GrowGeneration\u00a0Corp. (NASDAQ: GRWG), (&#8220;GrowGen&#8221; or the &#8220;Company&#8221;), the largest chain of specialty hydroponic and organic garden centers with 31 locations across 11 states, today reported record third quarter 2020 revenues of $55.0 million, versus $21.8 million in the same period last year. This represents &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/growgeneration-reports-record-third-quarter-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GrowGeneration Reports Record Third Quarter 2020 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-379016","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GrowGeneration Reports Record Third Quarter 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/growgeneration-reports-record-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GrowGeneration Reports Record Third Quarter 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Record Revenues of $55.0 Million, Adjusted EBITDA of $6.6 Million, and Pre-Tax Net Income of $5.1 Million 2020 full-year revenue guidance increased to $185&#8211;$190 million 2020 full-year adjusted EBITDA guidance updated to $19.0 million&#8211;$20.0 million 2020 full-year GAAP pre-tax net income guidance for 2020 is $9.0 million&#8211;$11.0 million 2021 full-year revenue guidance updated to $280 million&#8211;$300 million 2021 full-year adjusted EBITDA guidance for 2021 increased to $34.0 million&#8211;$36.0 million DENVER, Nov. 11, 2020 \/PRNewswire\/ &#8212;\u00a0GrowGeneration\u00a0Corp. (NASDAQ: GRWG), (&#8220;GrowGen&#8221; or the &#8220;Company&#8221;), the largest chain of specialty hydroponic and organic garden centers with 31 locations across 11 states, today reported record third quarter 2020 revenues of $55.0 million, versus $21.8 million in the same period last year. This represents &hellip; Continue reading &quot;GrowGeneration Reports Record Third Quarter 2020 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/growgeneration-reports-record-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-11T21:18:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1331815\/GrowGeneration_GrowGeneration_Reports_Record_Third_Quarter_2020.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/growgeneration-reports-record-third-quarter-2020-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/growgeneration-reports-record-third-quarter-2020-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GrowGeneration Reports Record Third Quarter 2020 Financial Results\",\"datePublished\":\"2020-11-11T21:18:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/growgeneration-reports-record-third-quarter-2020-financial-results\\\/\"},\"wordCount\":2110,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/growgeneration-reports-record-third-quarter-2020-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1331815\\\/GrowGeneration_GrowGeneration_Reports_Record_Third_Quarter_2020.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/growgeneration-reports-record-third-quarter-2020-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/growgeneration-reports-record-third-quarter-2020-financial-results\\\/\",\"name\":\"GrowGeneration Reports Record Third Quarter 2020 Financial Results - 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(NASDAQ: GRWG), (&#8220;GrowGen&#8221; or the &#8220;Company&#8221;), the largest chain of specialty hydroponic and organic garden centers with 31 locations across 11 states, today reported record third quarter 2020 revenues of $55.0 million, versus $21.8 million in the same period last year. 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