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Someone actually answers messages at evermind and I asked to email the CEO. The founder gave them permission to share his email and I asked them too. This is from the physician founder mentioned on the website. ("doctor formulated") Evermind Story
He's saying they already raised $1,500,000. Look at what he said about the team
consists of industry veterans who have successfully scaled food and beverage enterprises to 9 figure exits
EVERMIND
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EVERMIND WEBSITE
EVERMIND WEBSITE: https://thinkevermind.com/
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Doctor-formulated with clean, real-food ingredients, EVERMIND delivers on compelling benefit drivers —clean energy, mental focus, and long-term brain health. CRAVEABLE + CONVENIENT + EFFECTIVE.
Evermind is like a delicious plant-based protein shake—with a big brain boost added.
We call it a COGNITIVE ELIXIR.
Not a pivot at all, more like a THC-free line extension that can be scaled nationally quickly...
GPFT is still very much in the THC game.... but you're missing the point of why this CBD offering is of huge significance.
The passage of the 2018 Farm Bill allowed hemp and its derivatives to no longer be classified as controlled substances, thus... CBD became legal to sell in the U.S...
THIS is a completely new product offering. GPFT has essentially leveraged its patented transdermal microtechnology platform and developed a very efficacious topical CBD cream...
The best part is, they can sell it nationwide because it's THC-free.
Excellent news today!!! Digital marketing and strategy will be important for the success of Hourglass. Great to see that leadership is thinking correctly! It's clear from this BOD add that GPFT is serious about building relationships with their customers and scaling & growing this disruptive offering! Looking forward to more great news to come...
That's great to hear!
As the cannabis wellness revolution gains momentum, Grapefruit USA (OTCQB: GPFT) is at the forefront of research and development, leading the industry’s evolution by creating efficacious products that are healthy, clean, trustworthy, and safe.
Does anyone on this board besides you (dunderstand) and I apprehend WHY Hourglass by Grapefruit topical cannabinoid cream is disruptive?
If anyone new to the board would like that explained, just ask.
We are truly invested in a great company here.
The future is looking bright - GPFT
No need to worry... Here's my explanation:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=160679590
Would love for others to weigh in.
Smart money bought ETHE today. I never imagined that we would see a buying opportunity like this! ETHE premium just 11%. It hasn't traded at these low levels since ETH was $500.00. If ETH continues to surge overnight, we may be staring a 0% premium when we wake up. This would be equivalent to purchasing ETH through Coinbase... except for a lower fee.
I made a special trip to the bank to wire funds that I never planned on investing just so I could take a larger position in ETHE today...
The premium collapse was engineered today... Take a look at the filings. Institutional investors who invested 6+ months ago were locked up until now. They exited with a solid ROI... the premium adjusts and new money flows in.
Bottom is in. This should be fun.
GLTA.
Excellent to see testimonials starting... Social proof is extremely important to encourage new trials of the disruptive Hourglass product.
Testimonials on Hourglass is just more evidence that Grapefruit USA (GPFT) is a company that executes and delivers to shareholders as promised.
Grapefruit USA, Inc. Announces Commencement of Retail Distribution of its Patented “Hourglass by Grapefruit(TM)” Disruptive Time Release THC+Cannabinoid-loaded Delivery Cream in Greater Los Angeles
From the PR:
There is simply no other way possible for the public to obtain the benefits of the disruptive Hourglass experience. The smokeless, edible free age of Hourglass is now upon us. Accept no substitutes. The Company will provide retail outlet locations as they come online in January and February. The Company will soon begin to release unrehearsed stunning product testimonials from Hourglass early adopters and will continue to do so throughout the Spring.
GPFT - Great buying opportunity has presented itself this morning. Anything under $0.10 is a bargain. GLTA
Agreed! Some GPFT shareholders who believed and invested this summer are up over 300%, or more.... and GPFT is just getting started.
Here's huge news that broke yesterday:
Mexico Set to Become World’s Largest Legal Cannabis Market
This news delivered a small boost to cannabis stocks yesterday, but it's even more meaningful for Grapefruit...
Let's not forget that regarding the technology that makes Hourglass disruptive, GPFT holds rights (with Zylo) to expand the territory of their exclusivity to Mexico....
Zylö and Grapefruit Forge Partnership That Promises to Disrupt the Topical Cannabis Market (July 28, 2020)
Grapefruit, which holds licenses in California and Illinois to manufacture and distribute cannabis products (see www.grapefruitblvd.com), has exclusivity initially in these two states and has certain rights to expand the territory of exclusivity to other states and to Canada and Mexico. Canada has a well-established legalized cannabis marketplace, and it is anticipated that Mexico will legalize cannabis in the near future.
GPFT - will be above .10 by the new year. 2021 should be a great year for the company and its patient shareholders. Upwards!
I'm in GPFT! It's looking strong.
GPFT NEWS TODAY.
Slow and steady retail expansion.... As a consumer products company founder myself, the concept of OWNING YOUR OWN BACKYARD is very important.... GPFT is building traction in local markets they can control before smartly expanding into adjacent geographic areas... It's a smart way to grow.
Sources also tell me that they have close to a dozen retail locations on board already, but they just can't announce them yet. That's great progress.
Grapefruit USA, Inc. Announces Additional Retail Availability of its Patented Hourglass by Grapefruit(TM) Disruptive Time Release THC+Cannabinoid-loaded Delivery Cream in Greater Los Angeles
https://www.accesswire.com/622481/Grapefruit-USA-Inc-Announces-Additional-Retail-Availability-of-its-Patented-Hourglass-by-GrapefruitTM-Disruptive-Time-Release-THCCannabinoid-loaded-Delivery-Cream-in-Greater-Los-Angeles
Agreed GPFT will see $0.10 no problem this week... if not today! It's in full-on breakout mode. The chat is indicating BLUE SKY BREAKOUT
Awesome! Thanks for the update. Agree that it's time for GPFT to rally. The company is delivering as they promised.
You don't have to reveal your identity, but is there any way you can share some extra photos or do a video testimonial or unboxing? Whatever you're comfortable with.
More eyes are on GPFT than ever before. It may take a while to educate consumers and investors on just how disruptive Hourglass will be for the industry. It's a first-of-its-kind product that will fundamentally change the way consumers enjoy cannabis. HUGE.
GREAT NEWS! GPFT
Grapefruit USA, Inc. Announces Commencement of Retail Distribution of its Patented “Hourglass by Grapefruit(TM)” Disruptive Time Release THC+Cannabinoid-loaded Delivery Cream in Greater Los Angeles
https://finance.yahoo.com/news/grapefruit-usa-inc-announces-commencement-110000296.html
and... what a great quote from the CEO. He really concisely distills the value proposition here and how their Hourglass product is a game changer:
Bradley J. Yourist, Grapefruit's CEO, stated, "over sixteen months ago, we set out to fundamentally change the way people ingest THC and CBD to benefit their overall health, wellness, and well-being. We understood that many people do not want to smoke cannabis flowers or consume edibles for personal health reasons. The Hourglass by Grapefruit™ topical cream solves that problem for consumers as it provides users with a precisely metered, time released full body, synergistic entourage effect for the user. It is the only known topical delivery system capable of usefully penetrating the five layers of human skin and the blood/brain barrier."
GPFT - The moment we've all been waiting for...
Grapefruit's patented HOURGLASS topical cream is NOW AVAILABLE in select retail locations in California. The company is delivering as promised. Time to wake up people.
Hourglass is disruptive - the first and only topical cannabis cream that can deliver the full effects of cannabis through the skin.
This product will change the industry, and the growth story is about to unfold!
https://weedmaps.com/deliveries/get-weed-la-15/menu/hour-glass-patented-thc-cbd-time-release-cream?origin=search
Great to see GPFT news getting picked up by the cannabis industry media...
It looks like GPFT made front-page news on https://cannabisdaily.today/ this weekend. Very cool!
https://cannabisdaily.today/grapefruit-and-zylo-therapeutics/
GPFT NEWS!
Grapefruit USA, Inc. Commences Production of Its Patented Disruptive Time Release Hourglass(TM) THC+CBD Delivery Cream
LOS ANGELES and DESERT HOT SPRINGS, CA / ACCESSWIRE / August 25, 2020 / Grapefruit USA, Inc., (OTCQB:GPFT) ("Grapefruit" or the "Company") a fully licensed California based cannabis company, is announcing today that it has commenced production of the Hourglass™ time release THC+CBD delivery cream at its manufacturing facility in the Coachillin Canna-Business Park in Desert Hot Springs, California, pursuant to its Exclusive License and Supply Agreement with Zylö Therapeutics Inc. The novel Cannabis delivery system named "Hourglass by Grapefruit™" is the only known topical delivery system capable of usefully penetrating the five layers of human skin and the blood/brain barrier.
Bradley J. Yourist, Grapefruit's CEO, stated, "We now move on from the R&D phase of Hourglass™ our truly unique, patented breakthrough THC + Cannabinoid time release topical delivery cream based on Zylö's patented nano silica delivery technology, to the manufacturing and distribution phase.
Over the coming weeks, we will provide representative compliant samples in a closely controlled and supervised manner to Grapefruit stakeholders, social influencers and other cannabis industry supporters, critics and analysts to afford them the opportunity to discover and enjoy the heretofore unobtainable, Hourglass experience for themselves, discreetly and anonymously.
The Grapefruit team believes that Hourglass will fundamentally change the way individuals will access THC and CBD to obtain their unique benefits.
Grapefruit expects to introduce "Hourglass by Grapefruit™" to the retail market on a limited basis by the end of the third quarter and to ramp up production and distribution of Hourglass from the Company's Coachillin facilities shortly thereafter."
To learn more about Grapefruit's Hourglass THC + CBD time release cream delivery system please visit our website at:
https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com/investor-relations/
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 manufacturing 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. 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 Report on Form 10-Q for the period ended June 30, 2020 and its Registration Statement on Form S-1/A. 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:
The Waypoint Refinery, LLC
(845) 397-2956
Please be aware that our social media accounts and those of our public relations representatives can be used from time to time for additional material events. They can be found here:
For Waypoint Refinery:
Twitter: https://twitter.com/waypointthe?lang=en
Facebook: https://m.facebook.com/waypointrefinery/
For Grapefruit USA:
Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/
Instagram: https://www.instagram.com/grapefruit_usa/
Twitter: https://twitter.com/grapefruitusa
LinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/
SOURCE: Grapefruit USA
GPFT Hourglass to launch by end of Q3 on a regional basis in California.
Grapefruit is planning its first regional retail launch of Hourglass™ on a limited basis in the United States by the end of the third quarter and to ramp up production and delivery of the product shortly thereafter.
I couldn't agree more! GPFT long-term potential is astounding
The chart is beginning to shape up nicely as well. More data needed, but upward trends are establishing.
VIEW GPFT CHART
GPFT has 100% of my attention here.
As I mentioned before, we are witnessing a reversal. The spread has tightened, there is better bid support... Starting to see signs of life here with regard to a market.
Some investors are looking for an entry point.
No one knows about Hourglass and Grapefruit! It moves frictionlessly... More eyes and more volume will send this rocketing.
Many thanks. Looks like GPFT price per share is about to make a turn around... 05s are up. It looks thin. All we need are new eyes on the stock....
Also, no one is really talking about the current political environment on this board.... people are no longer massively divided on cannabis... As the wave of legalization hits, that rising tide will lift GPFT's ship!
I agree entirely. GPFT is at the next frontier in cannabis.
Grapefruit's Hourglass time-release transdermal products will transform public perception of cannabis.
Due to a lack of research, cannabis suffers a reputation as an inconsistent medicine. Some people ingest it, and become paranoid or experience bad results. Those negative encounters with cannabis seem to dominate popular culture, and fuel fear in the medical community.
Now, with the help of the technology that powers Hourglass, cannabis products can be accurately dosed, made healthier, and more effective.... and the effects are immediately apparent.
The microtechnology behind Hourglass will transform the perception of cannabis from "alternative hippie medicine" to mainstream, real medicine... and also disrupt the cannabis industry by replacing unhealthier, outdated methods of consumption with new healthier ways.
Just apply the cream!!!! It's that easy...
In a state like California, with a medical market and a legal recreational market, topical products make up approx 2% of all cannabis product sales (Vape products and edibles make up the largest %)... but that's because "current generation" topicals are "luxury" products for massage, skincare, and local pain relief uses. These products do not enter the bloodstream, and they do NOT get you high....
GPFT's Hourglass is a NEXT GENERATION topical product.
With GPFT's Hourglass, consumers can get high and experience the full benefits of cannabis through the use of this topical cream... This is a GAME CHANGER for the industry...no smoking or vaping... no damage to the lungs... no ingesting unpredictable edibles filled with dyes and corn syrup...
Imagine how the market for topicals would expand (topicals = the healthiest and most convenient way to consume cannabis) if they could actually get you high?
My thesis, which I can support with current quantitative and qualitative market and consumer research, is that demand would be EXTREMELY HIGH for topicals and likely disrupt edibles and some forms of smoking.... but let's assume it takes a lot of time to get the word out... let's assume conservatively that topicals can grow to just 5% of the market.... and that GPFT's Hourglass - the PIONEER OF TOPICALS THAT WORK - can capture just 20% of that topical market... (Essentially this equates to Hourglass products capturing 1% of the TAM in California...)
In Califonia, cannabis will be a $7.2B industry by 2024... If GPFT can capture just 1% of that, they will be generating $74M from Hourglass alone.... this is just ONE STATE.
I'm not naive here. It takes a lot of work to commercialize products and scale them.... it takes incredible work to grow any company... but I have developed even more conservative scenarios than the one above, and some of these conservative projections put Hourglass in the 9 figure revenue range... and if GPFT trades at a multiple of revenue, we could be looking at a $1B market cap in a few years.
I'm typing aggressively and with a lot of excitement, and I've got to get some rest... so I'm posting this without proofreading... but I hope my notes above make sense.
Please reply to me if you agree that we are holding shares in a disruptive company, and THAT will lead to wealth generation for early supporters of GPFT... We've all seen it happen with other companies with a lot less going on behind the curtain... why can't it happen here?
GPFT MUST WATCH VIDEOS:
GPFT - is much more than a cannabis play that involves buying and selling cannabis flower/plant... This is what a jar of disruption looks like.
READ THIS:
Zylo and Grapefruit Forge Partnership That Promises to Disrupt the Topical Cannabis Market
WATCH THE VIDEOS HERE:
60 second GPFT Hourglass™ video
GPFT Hourglass™ FULL EXPLAINER video
GPFT - is much more than a cannabis play that involves buying and selling cannabis flower/plant.... This is what a jar of disruption looks like.
READ THIS:
Zylo and Grapefruit Forge Partnership That Promises to Disrupt the Topical Cannabis Market
WATCH THE VIDEOS HERE:
60 second GPFT Hourglass™ video
GPFT Hourglass™ FULL EXPLAINER video
Yes. Hourglass will be huge... even if the product sales account for 1% of the TAM cannabis market in California... it's a massive opportunity. Looking forward to more great news from the company soon.
Grapefruit USA, Inc. (OTCQB "GPFT") Announces One-Year Extension to its Private Label Cultivation Agreement with Prominent Southern California Cannabis Cultivator
LOS ANGELES & DESERT HOT SPRINGS, CA / ACCESSWIRE / August 18, 2020 / Grapefruit USA, Inc., ("GPFT", "Grapefruit" or the "Company") (OTCQB:GPFT) a California based cannabis distribution and manufacturing company, is announcing today that it has entered into a one-year extension of the previously-announced Private Label Cultivation Agreement (the "Agreement") entered into with a prominent indoor cannabis cultivator on January 28, 2020. This Cultivator utilizes a state of the art, indoor Canopy grow system in Los Angeles, California to produce premium grade cannabis flowers such as Gelato 33 and other exotic strains. Under the terms of the extension, the Cultivator will continue to allocate a predetermined portion of its annual crop to Grapefruit subject to the terms of the January 28, 2020 Agreement.
With respect to Grapefruit's one-year extension, Bradley J. Yourist, Grapefruit CEO, stated, "This is a big step forward, after only nine months of operations with a premiere cultivator, Grapefruit has generated enough good will and credibility in the highly skeptical grow community to be able to negotiate a twelve-month extension of our agreement with our current master grower and its cultivation team. The cannabis market is experiencing a huge previously unseen demand for indoor-grown, high-grade, "exotic" cannabis flowers. In the face of this unprecedented demand, it was mission critical to extend our Agreement for at least another year and well before its expiration. The extension provides Grapefruit with certainty that its supply chain will be uninterrupted and ensure a steady revenue stream. The Company anticipates annual revenue of approximately $3,000,000 affording a 20% margin from this Agreement alone.
Grapefruit believes the newly extended Agreement as well as others under development will result in overall significantly higher revenues and margins from our distribution operations for the remainder of 2020 and early 2021. Margins will also be extended by the elimination of significant distribution operations one-time startup costs, non-recurring reorganization costs and elimination of legacy settlement costs. With this important step achieved, and our ongoing advances in the process of commercialization of the Company's patented disruptive Hourglass™ THC+Cannabinoid time release cream delivery system, Grapefruit continues to build momentum and advances toward its goal of becoming a leading, fully integrated Cannabis and CBD company."
In an unrelated development, Grapefruit is announcing that the Company's Advisory agreement with Mr. Justin Costello expired on August 16, 2020 and has not been renewed.
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com/investor-relations/
To learn more about Grapefruit's THC + CBD Topical Cream please visit our website at:
https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/
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, California, USA. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/.
GPFT EXCELLENT NEWS AFTER HOURS. $3M REVENUE CULTIVATION DEAL...
Grapefruit USA, Inc. (OTCQB "GPFT") Announces One-Year Extension to its Private Label Cultivation Agreement with Prominent Southern California Cannabis Cultivator
LOS ANGELES & DESERT HOT SPRINGS, CA / ACCESSWIRE / August 18, 2020 / Grapefruit USA, Inc., ("GPFT", "Grapefruit" or the "Company") (OTCQB:GPFT) a California based cannabis distribution and manufacturing company, is announcing today that it has entered into a one-year extension of the previously-announced Private Label Cultivation Agreement (the "Agreement") entered into with a prominent indoor cannabis cultivator on January 28, 2020. This Cultivator utilizes a state of the art, indoor Canopy grow system in Los Angeles, California to produce premium grade cannabis flowers such as Gelato 33 and other exotic strains. Under the terms of the extension, the Cultivator will continue to allocate a predetermined portion of its annual crop to Grapefruit subject to the terms of the January 28, 2020 Agreement.
With respect to Grapefruit's one-year extension, Bradley J. Yourist, Grapefruit CEO, stated, "This is a big step forward, after only nine months of operations with a premiere cultivator, Grapefruit has generated enough good will and credibility in the highly skeptical grow community to be able to negotiate a twelve-month extension of our agreement with our current master grower and its cultivation team. The cannabis market is experiencing a huge previously unseen demand for indoor-grown, high-grade, "exotic" cannabis flowers. In the face of this unprecedented demand, it was mission critical to extend our Agreement for at least another year and well before its expiration. The extension provides Grapefruit with certainty that its supply chain will be uninterrupted and ensure a steady revenue stream. The Company anticipates annual revenue of approximately $3,000,000 affording a 20% margin from this Agreement alone.
Grapefruit believes the newly extended Agreement as well as others under development will result in overall significantly higher revenues and margins from our distribution operations for the remainder of 2020 and early 2021. Margins will also be extended by the elimination of significant distribution operations one-time startup costs, non-recurring reorganization costs and elimination of legacy settlement costs. With this important step achieved, and our ongoing advances in the process of commercialization of the Company's patented disruptive Hourglass™ THC+Cannabinoid time release cream delivery system, Grapefruit continues to build momentum and advances toward its goal of becoming a leading, fully integrated Cannabis and CBD company."
In an unrelated development, Grapefruit is announcing that the Company's Advisory agreement with Mr. Justin Costello expired on August 16, 2020 and has not been renewed.
To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com/investor-relations/
To learn more about Grapefruit's THC + CBD Topical Cream please visit our website at:
https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/
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, California, USA. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.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 Report on Form 10-Q for the period ended June 30, 2020 and its Registration Statement on Form S-1/A. 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:
The Waypoint Refinery, LLC
(845) 397-2956
Please be aware that our social media accounts and those of our public relations representatives can be used from time to time for additional material events. They can be found here:
For Waypoint Refinery:
Twitter: https://twitter.com/waypointthe?lang=en
Facebook: https://m.facebook.com/waypointrefinery/
For Grapefruit USA:
Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/
Instagram: https://www.instagram.com/grapefruit_usa/
Twitter: https://twitter.com/BlvdGf
LinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/
SOURCE: Grapefruit USA, Inc.
Speaking of cannabis... GPFT
Have you seen the latest GPFT video? It's AWESOME!
>>> WATCH:
Have you seen the latest GPFT video? It's AWESOME!
>>> WATCH:
Good morning. That sounds like a plan. I'm at my desk for the next 2 hours and I can watch for you to send your info. Thanks
chester6 - Do you mind sending me a private message with your first name and phone number? I will send you a text message, introduce myself, and hopefully, we can set up a time to chat briefly tomorrow. I am interested in working with you to purchase your position. Thank you.
If you're trying to get cheap shares (GPFT), I think you'll just have to buy on the ask. This train is leaving without you.
GPFT NEWS. WOW.
Grapefruit USA, Inc. Reports 284% Revenue Growth Year-Over-Year; 124% Revenue Growth Quarter over Previous Quarter, Margins Expand
Wednesday, August 12, 2020 6:00 AM
LOS ANGELES / DESERT HOT SPRINGS, CA / ACCESSWIRE / August 12, 2020 / GrapefruitTM USA, Inc., ("GPFT", "Grapefruit" or the "Company") (OTCQB:GPFT) a California based cannabis distribution and manufacturing corporation, is announcing today that in its quarterly report on Form 10-Q for the six months ended June 30, 2020 filed with the SEC last evening, the Company reported net revenues of $1,272,211 for the six months ending June 30, 2020, an increase of $942,170 or 284% over revenues of $332,041 for the six months ending June 30, 2019.
For the three-month period ending June 30, 2020, the Company reported net revenues of $880,652, an increase of $487,093 or 124% over the previous quarter ending March 31, 2020.
This marked the second consecutive quarter that the Company reported revenue expansion in excess of 100% or more.
The Company's gross margin improved from a negative gross margin for the quarter ending March 31, 2020 to approximately 10% for the quarter ending June 30, 2020 due to a reduction in distribution operations discounts associated with the August 2019 restart of distribution operations, one time legal, accounting and consulting costs incurred in connection with the reverse acquisition of Imaging3, Inc. and the filing and processing of the Company's registration on Form S-1 which was declared effective by the SEC on June 26, 2020. The Company reported a net loss of $2,380,542 for the six months ending June 30, 2020, approximately $1,660,000 of which was attributable to non-cash market driven derivative valuation reductions and non-cash interest charges. The loss from operations for the period ending June 30, 2020 was $712,150 compared to $409,901 for the year ago period, an increase of $302,249 or 74%. This increase was the result of newly restarted distribution operations and non-recurring expenses incurred in connection with the Imaging3, Inc. reverse acquisition and the S-1 registration statement as set forth above. For a full analysis of the Company's results of operations see the Company's Form 10-Q at pages 19-22.
With respect to Grapefruit's 2020 second quarter results, Bradley J. Yourist, GrapefruitTM CEO, stated, "Despite the chaos visited upon us all as a result of the worldwide pandemic throughout the second quarter, we were able to grow our revenues 284% over our previous year, and 124% over our previous quarter despite the fact that we had only recently renewed our distribution operations at that time, and we continued to incur non-recurring reorganization and related accounting, auditing, legal and consulting expenses.
Very significantly, we were also able to prove the efficacy of the time-release mechanism for Grapefruit's patented, disruptive topical cream ‘patchless-patch' cannabis delivery system, "Hourglass by GrapefruitTM", which uniquely breaks the ‘blood brain barrier', and delivers THC + CBD active ingredients, in a variety of ratios, to the user over a predictable period of time.
These second quarter results clearly demonstrate that GrapefruitTM has not only weathered the disruption caused by the public company reorganization and related audit issues and expenses, the restart of distribution operations, the worldwide pandemic and the uncertainty it engendered, but has thrived and continued its momentum as evidenced by a second consecutive quarter of 100% plus revenue expansion and major advancement of the HourglassTM delivery system.
We remain laser focused on revenue growth in our distribution and extraction lab businesses and the imminent commercialization of our disruptive HourglassTM THC + CBD delivery system which will be released by the end of the third quarter.
We believe, based upon these trends, that despite the many headwinds we have faced, and may continue to encounter, that our third quarter results will be significantly better in terms of both revenues and margins as GrapefruitTM marches inexorably toward its goal of becoming a high-tech driven, leading U.S. based fully integrated cannabis company."
To learn more about GrapefruitTM, please visit our website at:
https://grapefruitblvd.com/investor-relations/
Please read the news, and look closer at the 10-Q.
Grapefruit USA, Inc. Reports 284% Revenue Growth Year-Over-Year; 124% Revenue Growth Quarter over Previous Quarter, Margins Expand
Wednesday, August 12, 2020 6:00 AM
LOS ANGELES / DESERT HOT SPRINGS, CA / ACCESSWIRE / August 12, 2020 / GrapefruitTM USA, Inc., ("GPFT", "Grapefruit" or the "Company") (OTCQB:GPFT) a California based cannabis distribution and manufacturing corporation, is announcing today that in its quarterly report on Form 10-Q for the six months ended June 30, 2020 filed with the SEC last evening, the Company reported net revenues of $1,272,211 for the six months ending June 30, 2020, an increase of $942,170 or 284% over revenues of $332,041 for the six months ending June 30, 2019.
For the three-month period ending June 30, 2020, the Company reported net revenues of $880,652, an increase of $487,093 or 124% over the previous quarter ending March 31, 2020.
This marked the second consecutive quarter that the Company reported revenue expansion in excess of 100% or more.
The Company's gross margin improved from a negative gross margin for the quarter ending March 31, 2020 to approximately 10% for the quarter ending June 30, 2020 due to a reduction in distribution operations discounts associated with the August 2019 restart of distribution operations, one time legal, accounting and consulting costs incurred in connection with the reverse acquisition of Imaging3, Inc. and the filing and processing of the Company's registration on Form S-1 which was declared effective by the SEC on June 26, 2020. The Company reported a net loss of $2,380,542 for the six months ending June 30, 2020, approximately $1,660,000 of which was attributable to non-cash market driven derivative valuation reductions and non-cash interest charges. The loss from operations for the period ending June 30, 2020 was $712,150 compared to $409,901 for the year ago period, an increase of $302,249 or 74%. This increase was the result of newly restarted distribution operations and non-recurring expenses incurred in connection with the Imaging3, Inc. reverse acquisition and the S-1 registration statement as set forth above. For a full analysis of the Company's results of operations see the Company's Form 10-Q at pages 19-22.
With respect to Grapefruit's 2020 second quarter results, Bradley J. Yourist, GrapefruitTM CEO, stated, "Despite the chaos visited upon us all as a result of the worldwide pandemic throughout the second quarter, we were able to grow our revenues 284% over our previous year, and 124% over our previous quarter despite the fact that we had only recently renewed our distribution operations at that time, and we continued to incur non-recurring reorganization and related accounting, auditing, legal and consulting expenses.
Very significantly, we were also able to prove the efficacy of the time-release mechanism for Grapefruit's patented, disruptive topical cream ‘patchless-patch' cannabis delivery system, "Hourglass by GrapefruitTM", which uniquely breaks the ‘blood brain barrier', and delivers THC + CBD active ingredients, in a variety of ratios, to the user over a predictable period of time.
These second quarter results clearly demonstrate that GrapefruitTM has not only weathered the disruption caused by the public company reorganization and related audit issues and expenses, the restart of distribution operations, the worldwide pandemic and the uncertainty it engendered, but has thrived and continued its momentum as evidenced by a second consecutive quarter of 100% plus revenue expansion and major advancement of the HourglassTM delivery system.
We remain laser focused on revenue growth in our distribution and extraction lab businesses and the imminent commercialization of our disruptive HourglassTM THC + CBD delivery system which will be released by the end of the third quarter.
We believe, based upon these trends, that despite the many headwinds we have faced, and may continue to encounter, that our third quarter results will be significantly better in terms of both revenues and margins as GrapefruitTM marches inexorably toward its goal of becoming a high-tech driven, leading U.S. based fully integrated cannabis company."
To learn more about GrapefruitTM, please visit our website at:
https://grapefruitblvd.com/investor-relations/
By 2024, the cannabis market in California is projected to reach $7.2 BILLION – boosted significantly by California’s recreational cannabis market- a 19% compound annual growth rate (CAGR) over the next five years. (Source)
California is the world's biggest cannabis market...
GPFT is a California-based business, which is where Hourglass™ will launch this year on a select retail basis...
Initially, GPFT will be focused on "owning their backyard," launching in a smart, controlled manner... in a way that requires smart metered investment... AND... There's no better place than California to build a sales and investment story around a product like Hourglass™...
Of course, we investors all expect Hourglass™ to become a "national" product in time - to be sold in every U.S. state with a legal market, but overnight expansion is not possible for any early-stage venture because of the capital required and the time it will take to obtain distribution and regulatory approval...
Thus, my focus has been on the rapidly growing California market when calculating possible revenue projections scenarios for Hourglass™...
Check out the Chart (below)! In terms of marijuana consumption methods, edibles are not harmful to the lungs and individual servings of these types of products typically are not shared between users, making them a more attractive option amid the COVID-19 pandemic. For a while, we have been slowly witnessing consumer behavior shift towards healthier methods of consumption, but the pandemic has really catalyzed a rapid shift. Health is now on everyone's minds.
- The market share for edibles is increasing significantly...
- The market share for the flower, concentrates, preroll is dropping...
- The Market share for vape pens grew slightly due to the innovation in that space - the emergence of more natural brands, and new vape pen dosing methods (see brands such as https://dosist.com/)
*** The market share for topicals dropped... however topicals currently do not get you high and produce local effects only.... they are seen as a luxury product and are not of great utility to the mainstream cannabis consumer due to inability to produce full benefits. THIS IS ABOUT TO CHANGE WITH HOURGLASS™
My main point is that we are seeing a rapidly growing California cannabis market and consumer behaviors shift rapidly toward healthier methods of consumption. I have plenty of data to back this up. Smoking is out, edibles are in. The market is shifting towards healthy consumption methods. Since edibles are not without problems of their own (unhealthy ingredients such as corn syrup and dyes, and unpredictable effects due to first-pass metabolism through the liver), companies such as GPFT are seizing the opportunity to potentially disrupt the industry with innovative new, HEALTHIER delivery methods... HOURGLASS™
Indeed it takes time to educate consumers about a new product. Indeed it takes time to grow and scale a product... HOWEVER... Market trends are in our favor, and consumers are demanding healthier, new products like Hourglass™. Hourglass™ is at an intersection of several rapidly growing trends. Do you really think the cannabis user of the future will be eating cannabis cookies and vaping? Just apply the cream!
(WATCH THE VIDEO if you don't yet know about Hourglass™...)
In 4 years, I believe that Hourglass™ could conservatively represent a $30M -$40M annual revenue opportunity in just the State of California alone. What do you think?