Grapefruit USA Inc. (GPFT) Releases FY2020 Financial Report, Notes 714% Revenue Growth

May 13, 2021 11:57:42
  • Company announces renegotiation of $4.2 million of convertible notes
  • Report shows net revenues of $3,672,353 for the year ended Dec. 31, 2020, an increase of $3,221,157 over 2010 revenues
  • GPFT looks forward to growing distribution business, ushering in the age of Hourglass

After spending the last six weeks renegotiating key terms of an estimated $4.2 million of convertible notes, Grapefruit USA (OTCQB: GPFT) announced its financial results for fiscal year 2020, the period ended Dec. 31, 2020 ( In addition to the restructure of the convertible debt, a highlight of the report in was the company’s 714% year-over-year revenue growth.

“We are pleased to report net revenues of $3,672,353 for the year ended Dec. 31, 2020, an increase of $3,221,157 or 714% over revenues of $451,196 for the year ended Dec. 31, 2019, despite operating during a global pandemic,” said Grapefruit CEO Brad Yourist. “We are also heartened to report that over the last several weeks we have been engaged in an exercise in holding the line for our…

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