Grapefruit Usa, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 05:17 pm IST
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Grapefruit USA, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 1.306 million. Operating loss was USD 174,762 compared to USD 756,800 a year ago. Net loss was USD 7.689 million compared to USD 2.916 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.01 a year ago. For the nine months, total revenue was USD 2.580 million compared to USD 332,041 a year ago. Operating loss was USD 886,911 compared to USD 1.166 million a year ago. Net loss was USD 10.070 million compared to USD 3.575 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.02 a year ago.
Grapefruit USA, Inc. is a fully licensed cannabiotech company. The Company manufactures its product line and distribute it, along with other cannabis products, to all licensed cannabis product businesses. It owns an ethanol extraction facility in the City of Desert Hot Springs, California. It owns and operates a Type 6 Ethanol Extraction Plant which removes the essential cannabis compounds, such as THC Distillate, that the Company, and others use, to produce cannabis products. Grapefruit manufactures its Hourglass Time Release THC+CBD-Infused Topical Cream at its Coachillin' facility. Hourglass is the full spectrum THC+ Cannabinoid Topical delivery Cream that provides its users with a full body, synergistic entourage. Its Topical Cream is designed to deliver the full effects of THC combined with a range of cannabinoids for a user's overall health, wellness, and well-being. In addition, its extraction lab produces distillate or Honey Oil from cannabis trim sourced by Grapefruit.
GRAPEFRUIT USA, INC. 
