Replies to post #55050 on Grapefruit USA Inc (GPFT)

[Martymook]

Acquirer’s designees shall own 80% of the then outstanding common shares of the Company and the Company’s current shareholders shall own 20% of such outstanding common shares.

By the way it reads it is 80% of the current O/S

But we will find out the fine details when they release them.

[noyeyiditi]

Grapefruit Blvd, as part of the RTO, would acquire 80% of the outstanding shares, and I believe that it's already happened. Almost 48m shares were traded from 03/18 to 03/29, with a large portion coming from buy orders on the 21st and the 22nd.

The 21st was a very interesting day, if you can remember. Trading began pre-market, and most of the day's trades were consolidated in the .19 to .21 price range. This was a secret broker coordinated buy-back, locking up 80% of outstanding shares without notice.

It's already done. There's only ~10m shares currently floating.