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  247.jpegThe controversial field of medical marijuana is heading to Wall Street.  An initial public offering is likely on the way from an equipment-maker for this sector.  GrowOp Technology Ltd. is soon to be entering a quiet period in what may be as soon as the next few days.  We recently spoke with Derek Peterson,  GrowOp’s founding-CEO, in a longer interview in February.  Some of the updated data has changed based upon what Peterson sent us this weekend, but it appears that the IPO filing is nearer rather than farther away in 2011.

GrowOp manufactures and sells indoor hydroponic and agricultural equipment and Peterson previously told us that he wants GrowOp to become the Apple of hydroponic technology.  The economics are amazing in this sector.  Smaller dispensaries can have annual sales of $4 million to $5 million, and larger dispensaries have annual revenues of $10 million and higher.  California has more than 500 hydroponic retailers, and GrowOp estimates that they generate more than $250 million in annual sales; nationally this is a billion dollar business segment with growth rates of roughly 40% in the last several years.



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