Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, has released a clarifying statement regarding the sale of stock conducted recently by company executives. According to the announcement, GPFT executives do not take a salary, instead being compensated with GPFT common stock. The company noted that its leaders preferred equity compensation, voting to receive their compensation that way several years ago because it represents the “ultimate incentive to ensure that their interests are fully aligned with the interests of company shareholders — the success of Grapefruit.” In addition, opting for this form of compensation is management strategy that preserves company cash flow, ensuring that it is invested in projects that grow the company. The company noted that all stock is sold following SEC regulations and are executed by experienced professional stock with GPFT executives having no control over the details of the stock transactions. All sales are executed by experienced professional stock traders who have been instructed to execute trades in a manner which will minimize price volatility. Such 10b5 sales plans are commonly used by corporate executives to sell publicly traded common stock.
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About Grapefruit USA Inc.
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, California. To find out more about the company, please visit https://GrapefruitBlvd.com.
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