Business
Grapefruit USA, Inc. Announces Preliminary Revenue Growth of 714% for Calendar Year 2020 Over Calendar Year 2019
Grapefruit USA, Inc. Announces Preliminary Revenue Growth of 714% for Calendar Year 2020 Over Calendar Year 2019.
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"\n LOS ANGELES and DESERT HOT SPRINGS, Calif., Feb. 08, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Grapefruit USA, Inc., (OTCQB: GPFT) (“Grapefruit” or the “Company”), a premiere, fully licensed California-based cannabis company, today provides unaudited preliminary results for calendar year 2020. The Company achieved currently unaudited total revenues of approximately $3,672,353 for the year ended Dec. 31, 2020 – an increase of approximately $3,221,156 or 714% over revenues for the year ended Dec. 31, 2019.The Company had a combined average growth rate over the last three years of 350%. With respect to Grapefruit’s unaudited 2020 results, Bradley J. Yourist, Grapefruit CEO, commented, “Our eye-popping 714% year-over-year revenue growth, achieved during the worst global pandemic in modern history, was especially gratifying and demonstrates the deep strength and resolve of our Company’s team. We continued to expand our indoor premium exotic cannabis flower distribution into the entire California wholesale marketplace. Despite a myriad of logistical difficulties engendered by the pandemic, we successfully executed on the Hourglass™ initiative. After 17 months of exacting efforts by Grapefruit and its scientific team, we brought the patented, disruptive Hourglass™ topical THC/cannabinoid delivery cream to market, thereby forever fundamentally changing the way individuals use THC and cannabinoids to obtain their holistic benefits. The demand for Hourglass™ has been robust, and user reviews have ranged from very satisfactory to downright spectacular. We believe 2021 will be our breakout year to achieve our goal of gaining recognition as perhaps the leading U.S.-based, technology-driven, fully integrated cannabis company. Finally, the Hourglass™ experience may only be purchased from Grapefruit (‘GPFT’) and its authorized agents.” 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/ Fo...