Grapefruit USA (OTCQB: GPFT), a premiere, fully licensed California-based cannabis company, announced its unaudited revenue results for calendar year 2020. The numbers indicate that Grapefruit totaled revenues of an estimated $3,672,353 for the year ended Dec. 31, 2020, which represents an increase of approximately $3,221,156 from 2019. The announcement noted that, based on those preliminary numbers, the company is reporting revenue growth of 714% in 2020. The company has spent the last year and a half focused on bringing its patented Hourglass(TM) topical THC/cannabinoid delivery cream to market. Demand for the disruptive product has been robust, the company reported, with outstanding user reviews. Based on initial results, Grapefruit anticipates 2021 will be a breakout year as the company works to achieve its goal of gaining recognition as one of the leading U.S.-based, technology-driven, fully integrated cannabis companies in the space. “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,” said Grapefruit CEO Bradley J. Yourist. “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.”
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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 www.GrapefruitBlvd.com.
NOTE TO INVESTORS: The latest news and updates relating to GPFT are available in the company’s newsroom at https://ibn.fm/GPFT
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