To the Moon
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$GPFT .044x .0478, spread is tightening and the bids haven't been getting hit! A great sign that the bottom is and a strong rebound is in the making...
I've already seen some of the big boys making solid moves over the last week! 4/20 is also less than a month away. Time for another rally in the Cannabis sector. $GPFT is at a prime bottom to take advantage of bargain basement prices!
Oh yea there is no doubt that Pot sales are up this quarter and $GPFT is to benefit from this boom in cannabis business!
The THC Patchless patch is def going to be a game changer in the near term! Once it rolls out there is no telling how much it could bring for $GPFT in terms of sales and revenues!
Supports held and we continued our uptrend! $FNHI Looking mighty nice no doubt about that...
Congrats, patience pays off! BIG especially here for $FNHI
Grapefruit USA, Inc. (OTCPINK “GPFT”) Announces the Appointment of Southern California Cannabis Industry Leader James Jordan to its Board of Directors
https://www.otcmarkets.com/stock/GPFT/news/Grapefruit-USA-Inc-OTCPINK-GPFT-Announces-the-Appointment-of-Southern-California-Cannabis-Industry-Leader-James-Jordan-t?id=253372
Los Angeles/Desert Hot Springs, CA, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Grapefruit USA, Inc., a Delaware corporation, (“GPFT”) (OTCPink: GPFT) (“Grapefruit” or the “Company”) a California based cannabis company is announcing today that on January 22, 2020, the Company’s Board of Directors unanimously voted to appoint Mr. James Jordan to the Company’s Board of Directors. Mr. Jordan accepted the appointment the following day.
Mr. Jordan is currently, and has been since January 2017, the CEO of C2 Brand Ventures, a Los Angeles, CA based cannabis consulting company that specializes in the development of early and middle stage cannabis companies in California and Nevada. Mr. Jordan is also the Founder and Executive Director of Southern California Cannabis Business and Investment Group, a Los Angeles based Cannabis Industry meet-up and networking group founded by him in 2016 which sponsors monthly events with over ten thousand members.
With respect to the appointment of Mr. Jordan to the Board of Directors, Bradley J. Yourist, Grapefruit CEO, stated, “Mr. James Jordan is an important addition to our Board of Directors given his wealth of cannabis industry knowledge and relationships in the cannabis industry nationally. James embodies our style of leadership. He is guided by ethics, principle and his desire to make a difference. Grapefruit is fortunate to have him and the breadth of experience and expertise he brings to our Company.”
Mr. Jordan also commented: “I am honored have been appointed to the Grapefruit Board of Directors. My goal is to help make Grapefruit an industry leader. I am confident that my extensive experience and expertise in the cannabis industry will provide the Board with hard earned industry insight and assist management in its efforts to grow Grapefruit and the Grapefruit brand strategically and rapidly.”
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com
Follow us on Facebook, Instagram, LinkedIn and Twitter
Facebook | Instagram | LinkedIn | Twitter
About GRAPEFRUIT
Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
Safe Harbor Statement
Grapefruit cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may not ever obtain additional funds necessary to support its business development and growth plans; and the company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Bradley Yourist
brad@grapefruitblvd.com
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/
Consider it a blessing in disguise, they are flying under the radar!
.0024 break was HUGE for $FHBC next stop .0035-.004!
More solid news from $GPFT
Grapefruit USA, Inc. (OTCPINK “GPFT”) Announces Private Label Cultivation Agreement with Premium Southern California Based Cannabis Cultivator.
https://www.otcmarkets.com/stock/GPFT/news/Grapefruit-USA-Inc-OTCPINK-GPFT-Announces-Private-Label-Cultivation-Agreement-with-Premium-Southern-California-Based-Can?id=252937
Los Angeles/Desert Hot Springs, CA, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Grapefruit USA, Inc., a Delaware corporation, (“GPFT”) (OTCPink: GPFT) (“Grapefruit” or the “Company”) a California based cannabis company is announcing today that on January 28, 2020 it entered into a Private Label Cultivation Agreement with a prominent Southern California based cannabis cultivator (the “Cultivator”). This Cultivator utilizes a state of the art, indoor Canopy grow system to produce premium grade Cannabis flowers. Under the terms of the Agreement, the Cultivator will allocate a portion of its indoor canopy to Grapefruit. Grapefruit has indicated to the Cultivator which cannabis strains it has chosen for the Cultivator to produce for it based upon Grapefruit’s perceived market demand and profit margins. The initial strains will include two different OG cultivars, and a Runtz cultivar which will be hand trimmed pursuant to the agreement. Grapefruit management believes that the allocated cultivation area will produce approximately 400 pounds or 181,200 grams of premium grade dried cannabis flowers on a seventy day cycle. In addition, the contract grants Grapefruit the right to purchase the “trim” resulting from the hand trimming process. The Agreement will also be subject to industry standard payment and delivery provisions.
With respect to signing the Agreement, Bradley J. Yourist, Grapefruit CEO, stated, “This Agreement, with an acknowledged master grower and cultivation team, will provide Grapefruit with an initial steady supply of premium grade, indoor cannabis flowers to enable us to quickly expand our distribution business and concomitant distribution revenue stream. This Agreement will also afford Grapefruit the option to brand our own line of indoor grown high-grade cannabis flowers for the retail market in California. We will be launching this project immediately as we achieve another milestone on our path to becoming a leading vertically integrated cannabis producer.”
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com
Follow us on Facebook, Instagram, LinkedIn and Twitter
Facebook | Instagram | LinkedIn | Twitter
About GRAPEFRUIT
Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
Safe Harbor Statement
Imaging3 cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may not ever obtain additional funds necessary to support its business development and growth plans; and the company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Bradley Yourist
brad@grapefruitblvd.com
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/
Amen brotha, smart minds think alike! $GPFT to Infiniti and beyon...
$GPFT solid trading heading into the close, almost 400k shares traded thats over 2X the 10 day average and we are closing at the HOD... All the makings to continue its ascent after the Super Bowl! Don't come in Monday with a hangover it could get exciting really quick you never know!
Oh yea already at the 30 day average daily volume before lunch! Setting up nicely into Super Bowl weekend. Go $GPFT! Who you rooting for in the big game Doogy? I want the 49'ers to win because they beat my Vikings but I like KC too, their head coach Andy Reed is a classy dude and that QB Mahomes is a stud! Should be a great game. We need a commercial for the $GPFT Patchless Patch in the next Super Bowl. Someone like Marshawn Lynch come out as a celebrity endorser. that would be sweet!
Yes solid start to the day for $GPFT, looks like we are getting some nice positive momentum back! BIG Super Bowl weekend, who you rooting for?
Absolutely anytime, I also stickied it too so new people coming to the board can see what $GPFT is up to!
$GPFT News out this am
Grapefruit USA, Inc. (OTCQB “GPFT”) Corporate Name and OTC Ticker Symbol Change Completed; GPFT Will Temporarily Be Quoted On the OTCPink Market
https://www.otcmarkets.com/stock/GPFT/news/Grapefruit-USA-Inc-OTCQB-GPFT-Corporate-Name-and-OTC-Ticker-Symbol-Change-Completed-GPFT-Will-Temporarily-Be-Quoted-On-t?id=252730
Press Release | 01/31/2020
Los Angeles/Desert Hot Springs, CA, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Grapefruit USA, Inc., a Delaware corporation, (OTCPink: “GPFT”) (“Grapefruit” or the “Company”) a California based fully compliant cannabis company is announcing today that both its Corporate name change from Imaging 3, Inc. to Grapefruit USA, Inc. and ticker symbol change from IGNG to GPFT have been completed and approved by FINRA. Furthermore the Company’s common shares will temporarily be quoted on the OTCPink Market as a result of a delay in the effectiveness date of its pending registration statement on Form S-1 caused by the autumn 2019 delays in connection with the audit of the Company’s wholly owned subsidiary, Grapefruit Boulevard Investments, Inc. (“GBI”).
In order to fully inform our shareholders why this highly technical temporary regulatory step has been deemed necessary by OTC Markets Compliance Department a review of certain aspects of the history of GBI’s reverse acquisition of Imaging3, Inc. is in order.
On March 13, 2019, Imaging3, Inc. (hereinafter “IGNG” or the “Company”) executed a non-binding letter of intent with GBI related to a proposed reverse acquisition of IGNG by GBI.
On March 28, 2019, management of both GBI and IGNG met with IGNG’s independent public auditors Rose, Snyder and Jacobs, CPAs (hereinafter “RSJ”). The purpose of the meeting with RSJ was to ascertain if it had the requisite professional experience to successfully audit a cannabis company such as GBI. At the conclusion of the meeting and after RSJ reviewed GBI’s financials, RSJ represented to the Company that, although it lacked prior professional experience in auditing a cannabis company, RSJ felt comfortable with the project of auditing GBI’s financials for the filing of a Form 8K/A concerning the proposed reverse acquisition after its completion. RSJ requested that GBI hire a cannabis accounting expert of its choice to review GBI’s books and records, which GBI consented to.
On April 30, 2019, RSJ conduct a successful warehouse inventory audit on GBI at GBI’s site in Desert Hot Springs, California.
On May 31, 2019, IGNG and GBI executed a Share Exchange Agreement documenting the reverse acquisition of IGNG by GBI.
In mid-June 2019, IGNG, Inc. engaged Lucosky Brookman, LLP to prepare and file an S-1 Registration required by the terms its financing commitment with its major institutional investor. (pre-GBI audit.)
In early-July 2019, GBI and IGNG successfully completed the post-closing conditions on the reverse acquisition and on August 21, 2019 shares were exchanged.
On July 25, 2019, IGNG filed the S-1 registration statement. On August 21, 2019, IGNG received the SEC’s first comment letter, which consisted of only fourteen (14) minor comments, and one (1) very significant comment requesting that IGNG include the GBI audited financials in its Amended S-1 Registration. The following is the press release hyperlink related to the SEC’s first comment letter: https://www.globenewswire.com/news-release/2019/08/22/1905294/0/en/Imaging3-Inc-Grapefruit-OTCQB-IGNG-Announces-Receipt-of-SEC-Comment-Letter-on-its-Registration-Statement-on-Form-S-1-filed-by-Grapefruit-on-July-25-2019.html
In late August 2019, without any prior notice, RSJ “regretfully” informed GBI and IGNG that after examining the situation, it reached the conclusion that it could not audit GBI because of the very specialized cash accounting issues related to the industry. RSJ recommended that GBI retain SingerLewak as its new auditors because SingerLewak is a nationally recognized auditor with prior experience in auditing cannabis and hemp companies. This totally unforeseeable event resulted in a substantial delay in completing the GBI audit which initiated a chain reaction of additional delays including most, importantly, IGNG’s filing of its post reverse acquisition Form 8-K/A and Amendment No. 1 to the S-1 registration statement because without the audit, IGNG could file neither the Form 8-K/A or Amendment No. 1to the S-1 registration statement.
On August 22, 2019, GBI engaged SingerLewak as its new public auditors.
From August 22, 2019 to September 22, 2019, the Company and its management were reasonably expecting that SingerLewak would complete the audit in a timely matter by no later than September 23, 2019.
On the morning of September 23, 2019, SingerLewak unexpectedly informed GBI and IGNG that it would need an additional “few weeks” to complete the audit due one of the audit partner’s “family issues” and because some of its staff were in training. In late October 2019, SingerLewak again unexpectedly informed GBI that because of “unpredicted” tax issues due to GBI’s involvement in the cannabis industry, SingerLewak needed “additional time” to complete the audit through no fault of GBI or IGNG. In early November 2019, SingerLewak, without any prior notice to the Company, requested that GBI hire a tax expert to prepare a specialized tax treatment opinion letter which caused another delay through no fault of GBI or IGNG.
On or about November 26, 2019, SingerLewak finally successfully completed the audit of GBI’s financials, and consented to using the audited finals in the IGNG Form 8K/A and Amendment No. 1 to the S-1 Registration Statement.
On November 29, 2019, the Company filed Amendment No. 1 to its current report on Form 8-K which was originally filed on July 16, 2019 which Amendment contains GBI’s audited balance sheets as of April 30, 2019 and 2018 and the related statements of operations, changes in stockholder’s (deficit) equity and cash flows for period August 28, 2017 (inception) to April 30, 2018, the year ended April 30, 2019 and the related notes to the financial statements. (collectively, the “Financial Statements”) and the Unaudited Pro Forma Combined Financial Information consisting of the unaudited combined balance sheet and statement of operations of GBI and IGNG (collectively, the Pro Forma Financial Statements). The Financial Statements and the Pro Forma Financial Statements were prepared by GBI’s then Independent Auditor, SingerLewak LLP.
On December 16, 2019, IGNG filed with the Financial Industry Regulatory Authority (“FINRA”) to change the Company’s Corporate Name to “Grapefruit USA, Inc.”, and Stock Ticker symbol to “GUSA”, “GPRE”, “GPFT” or such other Ticker symbol as FINRA and GBI might agree upon.
On January 17, 2020, IGNG filed Amendment No. 1 to its Registration Statement on Form S-1 originally filed on July 25, 2019. The Registration Statement covers shares to be issued to its institutional investor, Auctus Fund, LLC. (“Auctus”) of Boston, MA in connection with conversions of Convertible Notes (the “Notes”) issued to Auctus at 95% of Market and upon exercise of callable cash exercise only Warrants issued by the Company to Auctus. If all of the Notes are issued and the Warrants called, IGNG will have received $10,000,000.00 of gross proceeds from the transactions.
On January 22, 2020, the Company, with no prior warning, was informed by OTC Markets Compliance Department (“OTC Compliance”), that it needed to immediately provide OTC Compliance with the “S-1 clearance”, “name change effectiveness” and evidence that the “float is above 10%.” Without any prior notice whatsoever, OTC Compliance set an arbitrary deadline of January 30, 2020, seven (7) days from the notice to complete the open items, or OTC Compliance would unilaterally “move” IGNG to the “Pink Market”. OTC Compliance essentially took the position that the Company’s reapplication to the OTCQB required by the change in control of IGNG occasioned by the reverse acquisition of IGNG by GBI had been pending too long and thusly set the January 30, 2020 deadline.
On Friday, January 24, 2020, FINRA informed IGNG that the name change and ticker symbol change were both approved and the Company immediately filed a Certificate of Amendment of its Articles of Incorporation with the Delaware Secretary of State to change its name from Imaging3, Inc. to Grapefruit USA, Inc. The name and ticker symbol change were placed on the FINRA daily list on Monday, January 27, 2020 and effective the next day or January 28, 2020. Furthermore on Monday January 27, 2020, the Company provided reports from its transfer agent, VStock, LLC, which reflect that the float is approximately 14.3% of the currently outstanding shares of the Company. Therefore two (2) of the three (3) items required by OTC Compliance were completed by January 27, 2020. However, the timing of the “S-1 clearance” is in the hands of the SEC Corporation Finance Division and is out of the Company’s control.
As stated above, the Company filed Amendment No. 1 to the S-1 registration statement on January 17, 2020, therefore it will receive new comments on or before February 17, 2020. Lucosky Brookman has informed GPFT that they believe the comments should be minimal, but this cannot be certain. As soon as the Company receives the next comment letter from the SEC staff, it will respond to any comments and request acceleration of effectiveness of the registration statement. Immediately upon effectiveness, the Company will reapply to the OTCQB, all of whose qualification criteria it meets.
With respect to the expiration of the change in control application, Bradley J. Yourist, Grapefruit CEO, stated, “ As set forth in more detail above on January 22, 2020, without any prior notice, OTC Markets Compliance informed management of the Company that after reviewing its change in control application and the length of time it had been pending, OTC Markets Compliance decided to set a deadline of January 30, 2020 for the Company to complete three action items: First, obtain effectiveness of its S-1 Registration Statement; Second, complete the name change and ticker change process; and third, demonstrate that the Company’s float exceeded 10% of the Company’s total outstanding shares. The Company was given 7 business days to complete these action items, otherwise the Company would be temporarily unilaterally “moved” to the OTCPink Market commencing January 31, 2020 until such time as the action items were achieved. On January 28, 2020 counsel for the Company informally appealed to OTC Markets Compliance , explaining that that action items 2 and 3 had been achieved but that effectiveness of the Company’s S-1 was an open item and was out of the company’s control and requested additional time to complete that item before being moved to the OTCPink Market. OTC Compliance declined to grant the extra time.
While we are disappointed that the Company’s common shares will now be temporarily quoted on the OTCPink Market we understand the OTC’s position that a change in control re-application must be generally completed within 3 months-time which we exceeded. The delay in completion of the re-application was caused by the long delay of the completion of the GBI audit which prevented the Company from filing Amendment No. 1 to the S-1 registration as the Amendment required the inclusion of the GBI audit. The unforseen delay in completion of the audit caused a chain reaction resulting in the delay in completing the change in control application with the OTC and triggering the decision by OTC Compliance. GPFT shareholders should be aware that this temporary move to the OTCPink Market is of no practical import. The Company remains a fully reporting, audited company and will continue to timely file periodic reports. No aspect of our core business is negatively affected by this action. We are in the process of preparing our annual report on Form 10-K for the year ended December 31, 2019 which will be filed timely or earlier. Very importantly, we believe that our relationship with our main institutional investor remains solid and that our financing will not be delayed due to this temporary move to the OTCPink Market. Lastly but certainly not least, this temporary adjustment will in no way impair our efforts to continue to take all steps necessary to grow our revenues as we move forward to our stated goal of becoming a leading force in the legal cannabis industry.”
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com
About GRAPEFRUIT
Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
Safe Harbor Statement
Imaging3 cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may not ever obtain additional funds necessary to support its business development and growth plans; and the company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Bradley Yourist
brad@grapefruitblvd.com
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/
Yes they are creating brand recognition over at Grapefruit USA, Inc. $GPFT!
I love it $GPFT is a sexy new ticker for Grapefruit USA, Inc.
Yay new ticker $GPFT is active for Grapefruit!
https://www.otcmarkets.com/stock/GPFT/overview
Im not a fan of GRAP sounds too much like crap and Grapefruit/IGNG is far from that!
Yessir cant wait till we get our name and symbol change that we are patiently waiting for should be any day now! $IGNG wonder what the new ticker will be???
Yessir always love seeing those big blocks baught up. It was Etrade selling it so that symbolizes a retail trader. On the buy end I suspect it was someone institutional. Not many mom and pop traders are buying 7k at a clip! Great sign for $IGNG. Name and symbol change should be approved by Finra any day now!
$IGNG Strong hits out the gate, looks like we should break back into double digits soon. Grapefruit/IGNG is poised for a killer 2020 with all of the different revenue streams going!
Exactly new name and ticker will give Grapefruit/IGNG better branding! Just a waiting game at this point. Whenever Finra gives the green light since the application has already been filed! Could be any day now...
Totally agreed, Grapefruit/IGNG is not a one trick pony. The fact they have multiple revenue streams ensures the long term viability for the company. They are well diversified in the Cannabis sector... From seed to sale to proprietary products(slow release patchless patch) and now a banking division. The future is looking very bright for Grapefruit/IGNG.
Solid news from Grapefruit/IGNG
Grapefruit/IGNG and Pacific Banking Corp Announce Signing a Reseller Letter of Intent to Expand Cannabis Banking Services into Southern California.
Press Release | 01/15/2020
Los Angeles & Desert Hot Springs, California, Jan. 15, 2020 (GLOBE NEWSWIRE) -- Grapefruit Boulevard Investments, Inc., (“GBI”) a licensed and fully compliant California based cannabis distribution and manufacturing company and a wholly owned subsidiary of Imaging3, Inc., a Delaware corporation (OTCQB: IGNG) (collectively “Grapefruit” or the “Company”) is announcing today that it has entered into a non-binding reseller letter of intent with Seattle, Washington based Pacific Banking Corp.(“PBC”) to market PBC’s unique, innovative and compliant banking services to properly licensed and compliant cannabis and hemp companies which meet certain PBC qualitative criteria and metrics in Southern California.
PBC offers most of the same business banking services that traditional banks offer to the general public but refuse to offer to cannabis and hemp companies. PBC specializes in offering these traditional business banking services to higher-risk businesses such as properly licensed and fully compliant cannabis and hemp enterprises that pass PBC’s rigorous customer screening and approval process. Specifically, PBC offers personalized, specialized banking services, including daily monitored account security, virtual banking, assistance with ACH transactions, wire transfers, cash depository and logistics services, eChecks and online account management. Its services meet the highest Bank Secrecy Act and Financial Crimes Enforcement Network compliance requirements. The PBC Compliance Program performs a full audit and compliance assessment of a depositor’s legacy cash transaction and monitors and evaluates daily cash transactions. PBC has many accounts throughout the USA and Canada.
Since September 2019 Grapefruit (OTCQB: IGNG) has used the PBC banking services platform to effect a significant percent of its banking transaction, and PBC’s performance has been exemplary to date.
With respect to Grapefruit’s planned efforts to market PBC’s compliant cannabis and hemp banking services in Southern California, Bradley J. Yourist, Grapefruit’s CEO, stated, “We were introduced to PBC’s principal and CEO Justin Costello by a Southern California based licensed manufacturer who reported to us that he was very happy with PBC’s banking services in June 2018 and we began to have regular discussions concerning various aspects of the legal cannabis business. Grapefruit and PBC performed due diligence on one another and once we became comfortable with each other’s levels of professionalism and compliance, Grapefruit applied to open accounts with PBC. Once Grapefruit was screened and approved to use the PBC banking platform, and we opened our accounts with PBC we have enjoyed a much better bank service experience than we did with the major Banks we had previously had accounts with.
Our relationship with Mr. Costello grew to the point that on or about September 11, 2019, we appointed him to be the first member of our Strategic Advisory Board. Now that we are comfortable using PBC’s banking service, we will team up with PBC to offer PBC’s banking solutions in Southern California to properly licensed, compliant hemp and cannabis companies which pass PBC’s client screening regimen. We will only accept companies that demonstrate bulletproof compliance and ethical corporate governance. Over the next thirty days, Grapefruit and PBC will negotiate a definitive agreement. Once the definitive agreement is finalized and executed Grapefruit will work with PBC to commence marketing PBC’s specialized cannabis and hemp banking services in Southern California.”
Mr. Justin Costello, CEO of Pacific Banking Corp. and GRN Holding Corporation (OTCPink “GRNF”) commented “We are very happy to expand our relationship with Grapefruit beyond that of bank/customer to that of working partner in this banking services context. PBC estimates that legal cannabis /hemp enterprise deposits in Southern California could currently exceed $600 million dollars with robust growth prospects beyond. We look forward to working with Dan and Brad on this project.”
To learn more about Pacific Banking Corp., you may visit their website at: https://www.pacificbankingcorp.com/
About GRAPEFRUIT
Grapefruit is a wholly owned subsidiary of Imaging3, Inc. Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
Safe Harbor Statement
Imaging3 cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may not ever obtain additional funds necessary to support its business development and growth plans; and the company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Bradley Yourist
brad@grapefruitblvd.com
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/
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Thanks buddy I appreciate it!
Mods Sticky my previous post, its important for people to understand!
"What most people like you dont understand is that Grapefruit's/IGNG patchless patch delivers a specific dose of THC over a given period of time. The other competitor products can’t control the level of THC is ingested. The Portland company referenced delivers 40 mg over 24-36 hours (which is 1.6 mg per hour based on 24 hours and is not going to be effective at relieving pain). Grapefruit's/IGNG's patchless patch delivers a specific amount of THC per hour. For example, Grapefruit's/IGNG can have one iteration that delivers 10 mg per hour over 10 hours; or 30 mg per hour for 4 hours. Basically, whatever Grapefruit's/IGNG determine we want. No other company has this ability and they can’t because it’s a patented process. "
What most people like you dont understand is that Grapefruit's/IGNG patchless patch delivers a specific dose of THC over a given period of time. The other competitor products can’t control the level of THC that is ingested. The Portland company referenced in a prior post delivers 40 mg over 24-36 hours (which is 1.6 mg per hour based on 24 hours and is not going to be effective at relieving pain). Grapefruit's/IGNG's patchless patch delivers a specific amount of THC per hour. For example, Grapefruit's/IGNG can have one iteration that delivers 10 mg per hour over 10 hours; or 30 mg per hour for 4 hours. Basically, whatever Grapefruit's/IGNG determine we want. No other company has this ability and they can’t because it’s a patented process.
For sure anytime I'll post an updated video chart soon, I've done a couple in the past. Let's give it a few days. Maybe over the weekend!
Very Solid news for $IGNG! Looking forward to the name and symbol change to Grapefruit USA kicking butt and taking names in 2020...
Grapefruit/IGNG Announces Successful Results in Initial Tests for Efficacy of its Patented Time-Release THC Cannabinoid “Patchless Patch™”
Los Angeles/Desert Hot Springs, CA, Jan. 08, 2020 (GLOBE NEWSWIRE) -- Grapefruit Boulevard Investments, Inc., (“GBI”) a California based cannabis company and a wholly owned subsidiary of Imaging3, Inc., a Delaware corporation (“IGNG”) (OTCQB: IGNG) (collectively “Grapefruit” or the “Company”) is announcing today that the initial round of laboratory testing of the time release efficacy of its patented THC “Patchless Patch™” topical cream yielded successful results. The testing was performed using the Method described under United States Pharmacopeia Chapter 1724, commonly known as “Utilization of a Vertical Franz Diffusion Cell” in conjunction with a PVDF membrane, pore size of 0.2 µm. The use of a Franz diffusion cell to assess skin permeability is a well-recognized in vitro release-testing research methodology that provides key insights into the relationships between skin, drug and formulation.1 This particular Method was used to simulate the absorption rate of THC Cannabinoids through human skin. The THC Cannabinoids that crossed the membrane were measured at various time points using HPLC or High Performance Liquid Chromatography. The results demonstrate that Grapefruit’s THC Patchless Patch is able to deliver a consistent and predictable pre-defined dose of THC through a user’s skin over an approximate ten hour period of time.
With respect to the testing results of the Patchless Patch time-release mechanism, Bradley J. Yourist, Grapefruit CEO, stated, “the results of these tests of Grapefruit’s patented THC Cannabinoid time-release Patchless Patch have demonstrated its efficacy. Grapefruit believes that the consistent and sustained delivery of THC Cannabinoids over a defined period has the potential to change the manner in which chronic long-term pain and other disorders are managed. It also has the potential to provide an alternative to the use of highly addictive opioids for the treatment of chronic pain. Our hope is that this potentially game-changing technology will allow people who suffer from chronic pain and other disorders to lead more active and productive lives. Furthermore, our THC Patchless Patch has obvious applications in the recreational cannabis context for use at events such as concerts and movies as well as transcontinental flights. We are targeting the end of the Second Quarter of 2020 to bring the product to market. We will keep our shareholders and the public apprised of further developments with the THC Patchless Patch as they occur.”
To learn more about Grapefruit’s THC Cannabinoid Patchless Patch, please visit our website at:
https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/
About GRAPEFRUIT
Grapefruit is a wholly owned subsidiary of Imaging3, Inc. Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
Hmmmm Interesting to see $DWIS reinstated, will be paying closer attention to this one. Have had it on my radar for a long time, has a very thin float only about 2million shares!
$EGRN .75x .95 More volume the past couple days only a few grand worth however someone is buying up all the cheap stock!