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Grapefruit USA, Inc. (OTCQB: GPFT) announced the completion of its Standard Operating Procedures (SOP) and lab protocols for the production of its patented Hourglass THC+CBD delivery cream, utilizing Zylö Therapeutics' nano silica technology. This cream is noted for its ability to penetrate all skin layers and the blood/brain barrier. The company plans to launch Hourglass on a limited retail basis by the end of Q3 2020, aiming for increased production thereafter. CEO Bradley J. Yourist highlighted the importance of quality and efficacy in their product's development.
Grapefruit USA (OTCQB:GPFT) announced a joint venture with Artificial Intelligence Technology Solutions (OTCPK:AITX) to develop AI solutions aimed at enhancing crop efficiencies in cannabis cultivation. CEO Bradley J. Yourist expressed enthusiasm about collaborating on algorithms that analyze real-time factors like humidity and temperature to improve cannabis production. This partnership hopes to leverage AI technology to optimize cultivation processes, potentially leading to increased operational efficiency.
Grapefruit USA (OTCQB:GPFT) has completed significant upgrades to its manufacturing facility in Desert Hot Springs, California. These enhancements aim to streamline production of its innovative Hourglass™ THC+CBD delivery cream, which uniquely penetrates human skin layers and the blood-brain barrier. CEO Bradley J. Yourist emphasized the importance of controlling the entire production process. The company plans to launch Hourglass by the end of Q3 2020 and ramp up distribution shortly afterward, aiming to revolutionize THC and CBD access for consumers.
Grapefruit USA (OTCQB:GPFT) has begun production of its innovative Hourglass THC+CBD delivery cream at its facility in Desert Hot Springs, California. This unique topical delivery system penetrates five skin layers and the blood/brain barrier, leveraging Zylö Therapeutics' nano silica technology. The CEO, Bradley J. Yourist, confirmed this transition from R&D to manufacturing and distribution, with plans for limited retail release by the end of Q3 2020. Grapefruit aims to redefine access to THC and CBD through this breakthrough product.
Grapefruit USA, Inc. (GPFT) has announced a one-year extension of its Private Label Cultivation Agreement with a notable cannabis grower, initially signed on January 28, 2020. This agreement secures a consistent supply of premium cannabis, anticipating annual revenue of approximately $3 million with a 20% margin. CEO Bradley J. Yourist highlighted the extension as a major achievement, ensuring a stable revenue stream amid high demand for indoor-grown cannabis. Additionally, Grapefruit is working on commercializing its patented THC+Cannabinoid time-release cream.
Grapefruit USA, Inc. (GPFT) has reported significant financial growth in its quarterly report for the six months ending June 30, 2020. The company achieved net revenues of $1,272,211, a remarkable 284% increase from $332,041 in the same period last year, and a 124% increase from the previous quarter. The gross margin improved to approximately 10%, while the net loss stood at $2,380,542 due to non-cash expenses. CEO Bradley J. Yourist highlighted the successful revival of distribution operations and the advancement of their patented Hourglass THC + CBD delivery system.