Grapefruit USA Inc (GPFT)

[stockmasterflash]

17 million shares

at 5 cents is the current private placement rate for IMGG

So far only $355,000 out of a planned $1 million sold to 18 investors

http://www.sec.gov/Archives/edgar/data/1205181/000106594911000110/xslFormDX01/primary_doc.xml


Warrants from previous financing have been repriced down to the current .05 private placement price

http://www.sec.gov/Archives/edgar/data/1205181/000118518511001120/imaging3-10q063011.htm

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quote:

""Additional dilution in outstanding stock ownership may be incurred due to the issuance of more shares, warrants and stock options, or the exercise of outstanding warrants and stock options. In particular, under the price adjustment terms of its outstanding warrants, the exercise price of them was substantially reduced to be equal to the subscription price (i.e., $0.05 per share) of its current private placement of common stock. Imaging3 is exposed to other risks inherent in its businesses.""

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link to previous financing package with warrants

http://www.sec.gov/Archives/edgar/data/1205181/000106594911000048/i3_s3amend6vfinal.txt