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Message : Required fields LOS ANGELES and DESERT HOT SPRINGS, Calif., May 25, 2021 (GLOBE NEWSWIRE) via InvestorWire Grapefruit USA, Inc., (“GPFT,” “Grapefruit” or the “Company”) (OTCQB: GPFT) a California based cannabis company, announces that in its quarterly report on Form 10-Q for the three months ended March 31, 2021, filed with the SEC on May 24, 2021, the Company reported net revenues of $350,815, a decrease of 10% over revenues of $393,559 for the three months ended March 31, 2020. This decrease in revenues was caused by a very strong cannabis harvest in the fourth quarter of 2020 and early 2021 which drove down wholesale cannabis prices significantly and limited the profitability of our distribution and trading operations. As a result, the Company prudently limited such activities and concentrated its efforts more acutely on improving upon and launching its Hourglass products which will result in significantly higher Hourglass related revenues through the

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