Grapefruit USA Inc (GPFT)

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During the period from of July 1, 2016 through July 20, 2016, the Company issued an aggregate of 30,500,000 shares of common stock. Of those shares issued, 1,500,000 shares of common stock were issued for cash proceeds of $75,000. The remaining 29,000,000 shares were issued on July 19, 2016 and were based on the Company’s employment agreements. Of the 29,000,000 shares issued, 18,000,000 common stock shares were issued to Dane Medley, CEO; 10,000,000 common stock shares were issued to Xavier Aguilera, CFO; and 1,000,000 common stock shares were issued to Tom Imai, Controller.