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Grapefruit USA, Inc. (GPFT)

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Previous Close0.1400
Open0.1320
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Day's Range0.1320 - 0.1450
52 Week Range0.0370 - 0.3100
Volume392,545
Avg. Volume1,560,683
Market Cap69.508M
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Earnings DateAug 11, 2020
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  • Grapefruit’s New E-Commerce Store to Provide a One-Stop Shop for Its Hourglass Hemp-Derived CBD Topical Cream
    GlobeNewswire

    Grapefruit’s New E-Commerce Store to Provide a One-Stop Shop for Its Hourglass Hemp-Derived CBD Topical Cream

    LOS ANGELES and DESERT HOT SPRINGS, Calif., April 05, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), a diversified California based cannabis and hemp company, today announces its online merchant has been approved and that Grapefruit will launch its new U.S. e-commerce website in April 2021, featuring the Company’s novel line of hemp CBD only-derived versions of its disruptive, patented Hourglass™ time release delivery cream. The new e-commerce website will serve as the online home for Grapefruit’s growing portfolio of U.S. hemp-derived CBD product lines and as a one-stop, globally accessible shop for all future hemp CBD based products Grapefruit will produce. While there are many fiercely competitive CBD product sites populating the internet, TV, radio and other media, none can offer United States’ federally legal CBD products based on Grapefruit’s patented Hourglass topical cream’s technology. “Grapefruit is gratified and proud to offer our U.S. and international customers a convenient, one-stop shop to purchase our hemp CBD only-derived versions of Hourglass time-release delivery cream powered products,” said Bradley J. Yourist, CEO of Grapefruit USA, Inc. “Until now, Grapefruit’s Hourglass technology-based products have contained THC, so Grapefruit could not sell these products across state lines or internationally. No such federal legal barrier exists for our new hemp-derived CBD only products. So, as our unique and innovative portfolio of hemp CBD only-based products expands and transforms, Grapefruit will offer novel and competitively priced, high quality CBD hemp only-derived products incorporating the Hourglass technology based time-release delivery to our customers. Furthermore, and most importantly, the public will only be able to buy the vastly superior, Hourglass powered, hemp CBD derived Grapefruit products from Grapefruit and/or its authorized agents. By analogy, it’s as if Grapefruit was the only company on earth with the right to sell electric cars.” Grapefruit is devoted to selling only high-quality, tested, and reliable products and ensuring it makes no claims unless clinically validated. All of Grapefruit’s hemp CBD-based products to be marketed and sold on the new e-commerce website will be tested and come with a QR coded Certificate of Analysis, which provides consumers with a complete list of third-party verified ingredients certifying precise and accurate labeling of the product’s cannabinoid content, purity and safety. To learn more about Grapefruit, please visit Investor Brank Network:https://www.investorbrandnetwork.com/clients/grapefruit-usa-inc/ To learn more about Grapefruit’s new sustained-release Hourglass™ THC + Cannabinoid Topical Delivery Cream, please watch this promotional video https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be and visit our website at:https://grapefruitblvd.com/hourglass/ To learn more about Grapefruit, please visit our website at:https://grapefruitblvd.com/investor-relations/ Follow us on Facebook, Instagram, LinkedIn and TwitterFacebook | Instagram | LinkedIn | Twitter About GRAPEFRUIT Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. Safe Harbor Statement Grapefruit cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may not ever obtain additional funds necessary to support its business development and growth plans; and the company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Report on Form 10-K for the period ended December 31, 2020, and its Registration Statement on Form S-1/A. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. Investor Relations Contact:Bradley Youristir@grapefruitblvd.com 18776 Blue Dream Crossing, Unit LL1 53-07Desert Hot Springs, California 92240(760) 205-1382 https://grapefruitblvd.com/ Please be aware that our social media accounts can be used from time to time for additional material events. They can be found here: Grapefruit USA:Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/Instagram: https://www.instagram.com/grapefruit_usa/Twitter: https://twitter.com/grapefruitusaLinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/Weedmaps: https://weedmaps.com/brands/grapefruit Corporate Communications:InvestorBrandNetwork (IBN)Los Angeles, Californiawww.InvestorBrandNetwork.com310.299.1717 OfficeEditor@InvestorBrandNetwork.com

  • Seasoned Media and Digital Marketing Executive Sharon Boddie Joins Grapefruit Board of Directors
    GlobeNewswire

    Seasoned Media and Digital Marketing Executive Sharon Boddie Joins Grapefruit Board of Directors

    LOS ANGELES and DESERT HOT SPRINGS, Calif., March 29, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”) today announces that Sharon Boddie will join its Board of Directors, effective immediately. Sharon has over 20 years’ experience working in global media and digital marketing roles, leading Amazon, Apple, Fox, Farmers Insurance, Hulu and other Fortune 500 media campaigns. She is currently the Head of Media for Amazon Studios and Prime Video in Los Angeles, California. Most recently, she led breakthrough media campaigns in support of feature films including “Borat Subsequent Moviefilm” as well as “Coming 2 America” featuring Eddie Murphy, which have created cultural zeitgeist launches globally. Sharon Boddie is an experienced media executive with a proven, successful track record of releasing new products and IP for the world’s leading brands, advertising firms and media agencies, including successfully launching Apple Watch, Apple Music and the iPhone 6 in the role of the global digital media lead for Apple at their partner media agency OMD. With respect to the appointment of Sharon Boddie to the board of directors, Bradley Yourist, Grapefruit CEO, stated, “As Head of Media for Amazon Studios and Prime Video, Sharon has been a pioneer in both traditional and online media. Grapefruit is truly excited to welcome a media professional of her caliber to our board of directors. We believe her strong corporate experience, especially in strategic marketing and media as well as building a global business in both developed and emerging markets, will be extremely valuable as Grapefruit continues to expand its presence and brand around the world.” “We conducted an exhaustive search for someone who could immediately add some real horsepower to further strengthen our board’s diversity, breadth of talent and background, and we are delighted to have identified such an outstanding individual,” said Daniel Yourist, Grapefruit’s chief operating officer. “Sharon is a strategic marketing and media executive with a dynamic record of achievement. She possesses a unique skill set that will assist Grapefruit in significantly broadening its reach and message to the public at large. I’m absolutely confident that Sharon is going to make an immediate, significant positive impact on our company.” Sharon Boddie commented, “I am honored to have been appointed to the Grapefruit board of directors. Over the last several months, I have admired Grapefruit’s values and commitment to the notion that technology in its best form should empower people to improve their day-to-day lives, and Grapefruit’s Hourglass technology clearly embodies those values. I look forward to working with Bradley and the other board members to help Grapefruit deliver that value to an ever-expanding audience. I appreciate the rare opportunity to be involved at the ground floor level of a truly disruptive technology such as Hourglass and the many benefits it will deliver to its users.” To learn more about Grapefruit, please visit InvestorBrandNetwork:https://www.investorbrandnetwork.com/clients/grapefruit-usa-inc/ To learn more about Grapefruit’s new sustained-release Hourglass™ THC + Cannabinoid Topical Delivery Cream, please watch this promotional video https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be and visit our website at:https://grapefruitblvd.com/hourglass/ To learn more about Grapefruit, please visit our website at:https://grapefruitblvd.com/investor-relations/ Follow us on Facebook, Instagram, LinkedIn and TwitterFacebook | Instagram | LinkedIn | Twitter About Grapefruit Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. Safe Harbor StatementGrapefruit cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the Company may not ever obtain additional funds necessary to support its business development and growth plans; and the Company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for the period ended Sept. 30, 2020, and its Registration Statement on Form S-1/A. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. Investor Relations Contact:Bradley Youristir@grapefruitblvd.com18776 Blue Dream Crossing, Unit LL1 53-07Desert Hot Springs, California 92240(760) 205-1382 https://grapefruitblvd.com/ Please be aware that our social media accounts can be used from time to time for additional material events. They can be found here: Grapefruit USA:Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/Instagram: https://www.instagram.com/grapefruit_usa/Twitter: https://twitter.com/grapefruitusaLinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/Weedmaps: https://weedmaps.com/brands/grapefruit Corporate Communications:InvestorBrandNetwork (IBN)Los Angeles, Californiawww.InvestorBrandNetwork.com310.299.1717 OfficeEditor@InvestorBrandNetwork.com

  • Grapefruit Advances the Hourglass’ THC/CBD-Infused Particle Structure for Increased Bioavailability
    GlobeNewswire

    Grapefruit Advances the Hourglass’ THC/CBD-Infused Particle Structure for Increased Bioavailability

    CHART NO. 1 CHART NO. 1 CHART NO. 2 CHART NO. 2 LOS ANGELES and DESERT HOT SPRINGS, Calif., March 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), a premiere, fully licensed California-based cannabis company, today announces that the Company has achieved another technological milestone in its proprietary manufacturing process for its patented, disruptive Hourglass™ time-release THC+ cannabinoid delivery cream. Continued research and analysis of the Hourglass manufacturing process have allowed the Company to substantially reduce the size of the cream’s THC/CBD-infused particles to a mean particle size of 8.2 microns, as compared to previous samples, which averaged 33.1 and 29.9 microns. Grapefruit’s progress in consistently reducing the size of the infused particles meaningfully increases the bioavailability of the Hourglass’ active ingredients.* Bradley Yourist, Grapefruit CEO, stated, “We constantly strive to improve the quality of our Hourglass time-release THC+ cannabinoid delivery cream so our clientele is always the beneficiary of the best possible full-spectrum entourage experience we can deliver. We performed several particle size analyses on the structure of the Hourglass cream as part of our manufacturing protocols in an effort to fine tune the process and produce a cream capable of delivering the best possible experience to Hourglass users. Our efforts have paid dividends. We are currently in the process of adapting our proprietary manufacturing protocols to our new hemp-derived CBD cream. No CBD competitor’s topical products will be able match the consistency and technology of our hemp-derived CBD creams to deliver Hourglass’ stellar results.” The first accompanying chart shows the latest sample (blue curve) and the comparison to the previous samples (brown and red). The new sample contains smaller particles with a mean particle size of 8.2 microns, as compared to 33.1 and 29.9 microns for the samples tested in January 2021. “To put that into perspective,” Yourist said, “the size of a human hair is approximately 75 microns wide. The latest sample is in the 90th percentile or 14.2 microns, compared to 78 microns and 70 microns for the prior samples. The average particle size is smaller and the particle size distribution is narrower for the most recent sample, thereby increasing the bioavailability of the cream’s ingredients.”* The second set of charts demonstrates the improvement in Grapefruit’s proprietary manufacturing process from January 2021 to March 2021. “Grapefruit’s Hourglass™ Topical Delivery Cream has fundamentally changed the way individuals use THC/CBD and other cannabinoids to obtain their holistic benefits and will continue to do so for the foreseeable future.* Grapefruit’s hemp-based topical CBD creams will be Hourglass-based and will include all of our fundamental advances,” Yourist added. CHART NO. 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/38834635-2622-4c79-b274-81d1856c5fcb CHART NO. 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08325398-52a9-4648-a234-19b782749dc6 *This product is not regulated by the FDA and is not intended to cure, mitigate, treat or prevent disease. To learn more about Grapefruit, please visit InvestorBrandNetwork:https://www.investorbrandnetwork.com/clients/grapefruit-usa-inc/ To learn more about Grapefruit’s new sustained-release Hourglass™ THC+ cannabinoid topical delivery cream, please watch this promotional video https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be and visit our website at:https://grapefruitblvd.com/hourglass/ To learn more about Grapefruit, please visit our website at:https://grapefruitblvd.com/investor-relations/ Follow us on Facebook, Instagram, LinkedIn and TwitterFacebook | Instagram | LinkedIn | Twitter About Grapefruit Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit the Company’s website at https://grapefruitblvd.com/. Safe Harbor Statement Grapefruit cautions that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the Company may not ever obtain additional funds necessary to support its business development and growth plans; and the Company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for the period ended Sept. 30, 2020, and its Registration Statement on Form S-1/A. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995. Investor Relations Contact:Bradley Youristir@grapefruitblvd.com18776 Blue Dream Crossing, Unit LL1 53-07Desert Hot Springs, California 92240(760) 205-1382 https://grapefruitblvd.com/ Please be aware that our social media accounts can be used from time to time for additional material events. They can be found here: Grapefruit USA:Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/Instagram: https://www.instagram.com/grapefruit_usa/Twitter: https://twitter.com/grapefruitusaLinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/Weedmaps: https://weedmaps.com/brands/grapefruit Corporate Communications:InvestorBrandNetwork (IBN)Los Angeles, Californiawww.InvestorBrandNetwork.com310.299.1717 OfficeEditor@InvestorBrandNetwork.com