Grapefruit USA Inc (GPFT)

[Martymook]

"As of the September 30, 2018, there are 122,421,993 shares issuable upon conversion of the Company’s convertible debts accounted for as derivative liabilities.
The Company’s only asset or liability measured at fair value on a recurring basis was its derivative liability associated with warrants to purchase common stock and the conversion feature embedded in convertible promissory notes."
 
Warrants Explained

Like an option, a warrant does not represent actual ownership in the stock of the company; it is simply the right (but not the obligation) to buy shares at a certain price in the future. A warrant typically has a much longer life than a call option, with an expiry extending out five or 10 years. Some warrants are even perpetual.

Yes there has been dilution but under section 6 of their latest 10Q. Look under warrants.

 
Number of Warrants  
Exercise Price
Expiration Date 

2024 541,362  $0.00002  July
2023 25,000  $0.20  April 2022 312,500  $0.20  August 2022 287,500  $0.20  April 2023 125,000  $0.20  May 2023 81,250  $0.20  August 2023 2,800,000  $0.40  May 2022 187,500  $0.20  January

So no one is going to excercise their warrants under .20 because you can buy it cheaper on the market.
1 warrant = 1 common stock
That guy with .40 warrants definitely wont.
Buddy with 500k probably sold all that shit off already excercise at 0.00002

So we should be looking at atleast .20 before people consider exercising any warrants and diluting the share price.