Grapefruit USA Inc (GPFT): The FDA has only rejected the 510k 3 tim...

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stockmasterflash

Re: Boxsterfan post# 52941

Monday, 07/11/2016 5:16:10 PM

Monday, July 11, 2016 5:16:10 PM

The FDA has only rejected the 510k 3 times

4th time's a charm! Especially for a company with no cash and $2 million in defaulted debt

pretty sad when a company emerges from bankruptcy STILL IN DEFAULT TO CREDITORS

From the March 10Q. Click image to enlarge. Pay special attention to the text at the bottom of the chart

On September 13, 2012, the Company filed In re Imaging3, Inc., Case No. 2:12-bk-41206-NB (Bankr. C.D. Ca.) (the “Bankruptcy Case”), a voluntary petition under Chapter 11 of Title 11 of the United States Code. The Company’s plan of reorganization thereunder (the “Plan”) was confirmed on July 9, 2013 pursuant to the court’s Order Confirming Debtor's First Amended Chapter 11 Plan of Reorganization Dated March 5, 2013, as Modified (the “Order”). Pursuant to the Order, the Plan became effective on July 30, 2013 (“Effective Date”). The Plan requires that the Company pay certain obligations on the Effective Date of the Plan. Of the Company’s obligations under the Plan, the Company is delinquent with regard to the obligations described in the chart below:

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