Grapefruit USA Inc (GPFT)

[CashBowski]

Three things are being addressed.

1) There will be selling of $1.2M in debt, albeit at a fixed price that they haven’t disclosed to us. The price can indicate if selling will spill over into post merger. There’s also other debt that they didn’t address.

2) GBI has to file what’s called a Super 8-K (consolidated pro-forma) for 2 years of their financials to officially become part of IGNG shell. This is a auditing process that goes through many approval steps with SEC. This has to be completed within 75 days of the closing of reverse merger.

3) IGNG’s annual financial statement was due today, but they weren’t ready so they filed and NT-10k to get a 15 day extension. IMO It’s possible that the merger will be delayed a couple weeks until this report is filed.