Replies to post #56704 on Grapefruit USA Inc (GPFT)

[subslover]

Coalition Pushes for Pot Tax Break Amid Coronavirus Crisis
By The Associated Press
April 29, 2020

LOS ANGELES — A coalition of marijuana companies, churches and advocacy groups is asking California Gov. Gavin Newsom for a temporary cut in the state’s hefty pot taxes.

The group that includes the California State Conference of the NAACP, Los Angeles Metropolitan Churches and the industry group Southern California Coalition warned in a letter to the governor that the coronavirus crisis and a crashing economy will take an especially heavy toll on businesses run by minorities who were disproportionately targeted during the decades-long drug war.

[mr_sano]

Thanks for your very old irrelevant fact!

That news (Company CGS and gross margin)comes from the 10K which wad just recently released. It's not "old" news by any stretch and its astonishing anyone would refer to this data as "irrelevant". I know discounting negatives as old and irrelevant news is a favorite play this company loves to run as the former CEO and founder Dean Janes did it right up to the day he was escorted out the door but it a red flag that is now visible from space.

https://www.marketwatch.com/investing/Stock/GPFT/SecFilings?subview=secarticle&sid=23719557&guid=14068755&type=1

[mr_sano]

Lol loss leaders strategy”. It’s an excuse used when existing business cannot cover the nut. It’s absurd to sell for product below it’s cost of goods when there is no other plentiful high margin product available to sell? This company had 200k cash as of the last 10k and loans accruing 13% interest.,.yeah keep selling money loosing products...great strategy.

Another question is why the lawyer CEO is getting paid a salary. He and his family, brother have been given the keys to company and control the majority of the shares. All previous imgg shareholders have been virtually extinguished and you hear nothing about dominion which I’m sure is dead in the water. I hear no news on spinning that off obviously because it’s worthless. The pivot to cannabis is just another ploy to extract more investment from those not been burned by this entity.