$GPFT
Grapefruit USA, Inc

2021 Form 10-K Financial Statement

#000149315222010150 Filed on April 15, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $589.0K $1.092M $3.672M
YoY Change -83.96% 142.01% 713.91%
Cost Of Revenue $1.119M $1.006M $3.392M
YoY Change -67.01% 41.99% 378.7%
Gross Profit -$530.2K $85.86K $280.5K
YoY Change -289.04% -133.36% -208.97%
Gross Profit Margin -90.02% 7.86% 7.64%
Selling, General & Admin $1.885M $405.2K $1.487M
YoY Change 26.82% -74.94% -8.04%
% of Gross Profit 471.88% 530.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $93.22K -$43.18K $82.89K
YoY Change 12.46% -356.26% 29.56%
% of Gross Profit -50.29% 29.56%
Operating Expenses $1.885M $405.2K $1.487M
YoY Change 26.82% -74.97% -8.17%
Operating Profit -$2.416M -$319.3K -$1.206M
YoY Change 100.26% -82.98% -35.71%
Interest Expense -$1.693M -$33.20M -$42.49M
YoY Change -96.01% 1410.77% 1833.46%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$5.505M $6.013M -$4.057M
YoY Change 35.69% -230.73% -11.8%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$5.505M $6.013M -$4.057M
YoY Change 35.68% -230.47% -11.98%
Net Earnings / Revenue -934.64% 550.69% -110.47%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share -$10.68K $11.90K -$8.143K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.100K $299.9K $299.9K
YoY Change -96.97% 12.49% 12.49%
Cash & Equivalents $9.100K $299.9K $299.9K
Short-Term Investments
Other Short-Term Assets $37.40K $107.4K $107.4K
YoY Change -65.19% 762.28% 762.28%
Inventory $389.3K $502.1K $502.1K
Prepaid Expenses
Receivables $278.4K $39.41K $39.41K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $714.2K $948.9K $948.9K
YoY Change -24.73% 74.73% 74.73%
LONG-TERM ASSETS
Property, Plant & Equipment $1.845M $1.923M $1.923M
YoY Change -4.07% -5.25% -5.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $170.0K $170.0K
YoY Change -100.0% 0.0% 0.0%
Other Assets $7.460K $7.460K $7.460K
YoY Change 0.0%
Total Long-Term Assets $2.102M $2.100M $2.100M
YoY Change 0.09% -4.51% -4.51%
TOTAL ASSETS
Total Short-Term Assets $714.2K $948.9K $948.9K
Total Long-Term Assets $2.102M $2.100M $2.100M
Total Assets $2.816M $3.049M $3.049M
YoY Change -7.64% 11.18% 11.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.035M $807.1K
YoY Change 28.26% -24.85%
Accrued Expenses $1.110M $840.2K $840.2K
YoY Change 32.13% 69.13% 69.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.935M $1.153M $1.153M
YoY Change 241.4% 48.09% 48.09%
Total Short-Term Liabilities $7.704M $4.380M $4.380M
YoY Change 75.9% -14.39% -14.39%
LONG-TERM LIABILITIES
Long-Term Debt $916.3K $3.267M $3.267M
YoY Change -71.95% 73.14% 73.14%
Other Long-Term Liabilities $11.10K $81.95K $81.95K
YoY Change -86.46% -52.87% -52.87%
Total Long-Term Liabilities $927.4K $3.349M $3.349M
YoY Change -72.31% 62.51% 62.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.704M $4.380M $4.380M
Total Long-Term Liabilities $927.4K $3.349M $3.349M
Total Liabilities $8.624M $7.729M $7.729M
YoY Change 11.59% 7.7% 7.7%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.808M -$4.680M -$4.680M
YoY Change
Total Liabilities & Shareholders Equity $2.816M $3.049M $3.049M
YoY Change -7.64% 11.18% 11.18%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$5.505M $6.013M -$4.057M
YoY Change 35.68% -230.47% -11.98%
Depreciation, Depletion And Amortization $93.22K -$43.18K $82.89K
YoY Change 12.46% -356.26% 29.56%
Cash From Operating Activities -$1.203M -$715.6K -$1.626M
YoY Change -25.99% -404.87% 49.61%
INVESTING ACTIVITIES
Capital Expenditures -$62.32K -$5.460K -$30.93K
YoY Change 101.49% -93.74% -89.47%
Acquisitions
YoY Change
Other Investing Activities $70.00
YoY Change
Cash From Investing Activities -$62.25K -$5.460K -$30.93K
YoY Change 101.26% -98.01% -93.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 974.8K 855.1K 1.690M
YoY Change -42.32% -632.89% -4.46%
NET CHANGE
Cash From Operating Activities -1.203M -715.6K -1.626M
Cash From Investing Activities -62.25K -5.460K -30.93K
Cash From Financing Activities 974.8K 855.1K 1.690M
Net Change In Cash -290.8K 134.1K 33.28K
YoY Change -973.8% -166.76% -83.42%
FREE CASH FLOW
Cash From Operating Activities -$1.203M -$715.6K -$1.626M
Capital Expenditures -$62.32K -$5.460K -$30.93K
Free Cash Flow -$1.141M -$710.1K -$1.595M
YoY Change -28.46% -320.54% 101.14%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2020Q4 us-gaap Preferred Stock Value
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CY2020Q4 us-gaap Minority Interest
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CY2020 us-gaap Proceeds From Related Party Debt
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CY2021 GPFT Payments Of Right Of Use Liability
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CY2020 us-gaap Payments To Minority Shareholders
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CY2020 us-gaap Proceeds From Warrant Exercises
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CY2020 us-gaap Proceeds From Issuance Of Common Stock
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CY2020Q4 us-gaap Goodwill
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CY2021Q4 us-gaap Litigation Reserve Noncurrent
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CY2021Q4 us-gaap Convertible Debt Noncurrent
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CY2020 GPFT Stock Option Expenses
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CY2020 GPFT Gain Loss On Extinguishment Of Debt Related Parties
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2020 us-gaap Stock Option Plan Expense
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CY2020 GPFT Loss On Extinguisment Of Debt Related Parties
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CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020 us-gaap Increase Decrease In Accrued Investment Income Receivable
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CY2020 GPFT Increase Decrease In Right Of Use Assts
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CY2021 us-gaap Increase Decrease In Other Operating Assets
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CY2021 us-gaap Increase Decrease In Accrued Liabilities
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CY2020 us-gaap Increase Decrease In Operating Lease Liability
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CY2020 us-gaap Cash Acquired From Acquisition
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CY2020 GPFT Repayment Of Legal Liability
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CY2021 us-gaap Proceeds From Lines Of Credit
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CY2020 GPFT Shares Issued For Debt Settlement With Related Parties
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CY2021 GPFT Shares Issued For Compensation
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CY2021 GPFT Shares Issued For Settlement Of Debt
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CY2020 GPFT Stock Issued For Acquisition Value
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CY2021 GPFT Reclassification Of Derivative Liabilities
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CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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CY2021 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
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CY2021 GPFT Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Reclassification To Equity
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CY2021 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
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