Grapefruit USA Inc (GPFT)

[stockmasterflash]

And where his financing is coming from

They burned through $700,000 + of the last million dollar finance round in just 2 months. They had a cash balance of $360,000 on Dec 31.

I may not be great in math, but those two items suggest that IMGG has zero cash right now.

An open market stock "buyback" by management does not remedy that situation at all.

Dean says he has million more available to him, but he has not announced another financing round, nor has he got his lenders shares registered, costing IMGG $20,000 in penalties every month.

Basically this PR has arrested the freefall and distracted shareholders and froze them in place going into the weekend.

In that respect, it was a success. But now, like a meal of cotton candy, you are still left with the same problems you started the week with.

No Cash

No S-3 EFFECTiveness

No FDA approval

No MWE