Grapefruit USA Inc (GPFT)

[mr_sano]

“Execution of the MOU moved the entire process forward as we now more clearly understand each other’s overall goals and priorities as well as the capital requirements and legal, regulatory and logistical challenges of finalizing a Joint Venture and/or an acquisition. We expect to bring the process forward to the point of making a decision in the next 30-60 days. Once again, that being said, we wish to emphasize that the discussions reported here, although substantive and largely positive, remain preliminary in nature and may be terminated at any time. Grapefruit will update the public as necessary on any material joint venture or acquisition developments as events proceed.”

Lawyer speak for “we got nothing”