2022 Q3 Form 10-Q Financial Statement

#000149315222023697 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $2.962K $24.06K $2.180K
YoY Change -98.07% -70.83% -99.8%
Cost Of Revenue $62.76K $162.5K $192.5K
YoY Change -81.87% 3.36% -80.87%
Gross Profit -$59.80K -$138.4K -$190.3K
YoY Change -68.95% 85.32% -321.6%
Gross Profit Margin -2018.77% -575.13% -8727.98%
Selling, General & Admin $342.8K $728.0K $537.6K
YoY Change -17.41% 37.98% 32.7%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.62K $20.67K $23.62K
YoY Change -37.76% -11.97% -154.7%
% of Gross Profit
Operating Expenses $342.8K $728.0K $537.6K
YoY Change -17.41% 37.98% 32.7%
Operating Profit -$402.6K -$866.4K -$727.9K
YoY Change -33.75% 43.85% 127.97%
Interest Expense -$355.6K -$471.3K -$526.0K
YoY Change -5.03% 50.89% -98.42%
% of Operating Profit
Other Income/Expense, Net -$355.6K -$498.9K
YoY Change -5.03% -32.98%
Pretax Income -$758.2K -$1.365M -$1.760M
YoY Change -22.8% 1.38% -129.26%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$758.2K -$1.365M -$1.760M
YoY Change -22.78% 1.38% -129.26%
Net Earnings / Revenue -25597.81% -5673.84% -80711.01%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share -$1.322K -$2.440K -$3.414K
COMMON SHARES
Basic Shares Outstanding 600.3M shares 559.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.58K $5.040K $9.100K
YoY Change -36.82% -97.32% -96.97%
Cash & Equivalents $23.58K $5.035K $9.095K
Short-Term Investments
Other Short-Term Assets $3.643K $1.143K
YoY Change -96.81% -99.15%
Inventory $337.5K $339.3K $389.3K
Prepaid Expenses
Receivables $22.98K $22.38K $278.4K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $644.5K $404.7K $767.3K
YoY Change -23.99% -62.89% -19.13%
LONG-TERM ASSETS
Property, Plant & Equipment $1.711M $1.725M $1.770M
YoY Change -7.36% -8.57% -7.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $7.460K $7.459K $7.459K
YoY Change 0.0% -0.01% -0.01%
Total Long-Term Assets $2.071M $1.986M $2.049M
YoY Change -5.41% -3.8% -2.44%
TOTAL ASSETS
Total Short-Term Assets $644.5K $404.7K $767.3K
Total Long-Term Assets $2.071M $1.986M $2.049M
Total Assets $2.715M $2.391M $2.816M
YoY Change -10.6% -24.22% -7.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.164M $1.111M $1.035M
YoY Change 42.29% 49.57%
Accrued Expenses $1.238M $972.5K $1.110M
YoY Change 25.57% 7.87% 32.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.081M $3.008M $3.935M
YoY Change 39.6% 34.92% 241.4%
Total Short-Term Liabilities $7.913M $7.281M $7.704M
YoY Change 65.34% 63.36% 75.9%
LONG-TERM LIABILITIES
Long-Term Debt $911.3K $910.4K $916.3K
YoY Change -63.08% -59.28% -71.95%
Other Long-Term Liabilities $19.16K $3.350K $11.10K
YoY Change -81.94% -86.46%
Total Long-Term Liabilities $930.5K $913.8K $927.4K
YoY Change -62.3% -59.47% -72.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.913M $7.281M $7.704M
Total Long-Term Liabilities $930.5K $913.8K $927.4K
Total Liabilities $8.844M $8.195M $8.631M
YoY Change 22.03% 22.1% 11.67%
SHAREHOLDERS EQUITY
Retained Earnings -$19.43M -$18.68M -$16.83M
YoY Change
Common Stock $60.68K $58.53K $55.72K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.122M -$5.797M -$5.808M
YoY Change
Total Liabilities & Shareholders Equity $2.715M $2.391M $2.816M
YoY Change -10.6% -24.22% -7.64%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$758.2K -$1.365M -$1.760M
YoY Change -22.78% 1.38% -129.26%
Depreciation, Depletion And Amortization $14.62K $20.67K $23.62K
YoY Change -37.76% -11.97% -154.7%
Cash From Operating Activities -$36.16K -$24.02K -$204.8K
YoY Change -81.11% -95.6% -71.38%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 54.71K 23.91K 176.6K
YoY Change 18.55% -92.52% -79.35%
NET CHANGE
Cash From Operating Activities -36.16K -24.02K -204.8K
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 54.71K 23.91K 176.6K
Net Change In Cash 18.55K -110.0 -28.22K
YoY Change -112.3% -99.96% -121.05%
FREE CASH FLOW
Cash From Operating Activities -$36.16K -$24.02K -$204.8K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$36.16K -$24.02K -$204.8K
YoY Change -80.54% -95.38% -71.16%

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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Earnings Per Share Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Depreciation And Amortization
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GPFT Amortization Of Debt Discount
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GPFT Amortization Of Debt Discount
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us-gaap Derivative Gain Loss On Derivative Net
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GPFT Gain Loss On Extinguishment Of Debt Related Parties
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GPFT Loss On Extinguishment Of Debt
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
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20998 usd
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32877 usd
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250054 usd
GPFT Loss On Legal Settlement
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36462 usd
GPFT Gain Loss On Inventory Valuation
GainLossOnInventoryValuation
68941 usd
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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26384 usd
GPFT Increase Decrease In Right Of Use Assts
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-58959 usd
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us-gaap Increase Decrease In Accounts Payable
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76283 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4000 usd
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IncreaseDecreaseInAccruedExecutiveCompensation
300000 usd
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us-gaap Payments To Acquire Property Plant And Equipment
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31915 usd
GPFT Repayment Of Legal Liability
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12645 usd
GPFT Repayment Of Legal Liability
RepaymentOfLegalLiability
18000 usd
us-gaap Proceeds From Convertible Debt
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450000 usd
us-gaap Proceeds From Issuance Of Debt
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50000 usd
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3395 usd
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263245 usd
us-gaap Proceeds From Related Party Debt
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ProceedsFromWarrantExercises
250000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
75000 usd
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NetCashProvidedByUsedInFinancingActivities
277334 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-111740 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9095 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
299895 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5035 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
188155 usd
us-gaap Interest Paid Net
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InterestPaidNet
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StockIssued1
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GPFT Shares Issued For Conversion Of Notes Payable
SharesIssuedForConversionOfNotesPayable
1745818 usd
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SharesIssuedForConversionOfNotesPayable
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SharesIssuedForDebtSettlementWithRelatedParties
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GPFT Shares Issued For Compensation
SharesIssuedForCompensation
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GPFT Stock Open Compensation
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20998 usd
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StockIssuedDuringPeriodValueIssuedForServices
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GPFT Shares Issued Upon Warrant Exercise
SharesIssuedUponWarrantExercise
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StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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StockIssuedDuringPeriodValueIssuedForRelatedParty
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
32877 shares
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StockIssuedDuringPeriodValuePurchaseOfAssets
75000 usd
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ProfitLoss
-2763327 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-3556819 usd
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-5814785 usd
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StockIssuedDuringPeriodValueIssuedForServices
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StockIssuedDuringPeriodValueNewIssues
35127 usd
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StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1745818 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
20998 shares
us-gaap Profit Loss
ProfitLoss
-1849495 usd
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-5804528 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zCURHJ3XhKp5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_823_z6uCtfPBqbZg">ORGANIZATION AND NATURE OF OPERATIONS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Overview</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grapefruit Boulevard Investments, Inc. (“we”, “our”, “us”, “Grapefruit”, “GBI”, or “the Company”) was formed as a California corporation on August 28, 2017 and began operation in September 2017. On July 10, 2019, Grapefruit acquired Imaging3, Inc. (“IGNG”) in a reverse acquisition (the “Acquisition”). Under the terms of a Share Exchange Agreement by and among IGNG, Grapefruit and Grapefruit’s shareholders, IGNG issued to Grapefruit’s existing shareholders approximately <span id="xdx_907_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20190710__srt--TitleOfIndividualAxis__custom--GrapefruitsShareholdersMember__us-gaap--BusinessAcquisitionAxis__custom--Imaging3IncMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_zysZZwe82Vk9" title="Acquisition ownership percentage">81</span>% of the post-Acquisition IGNG common shares and the IGNG shareholders retained <span id="xdx_901_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20190710__srt--ConsolidatedEntitiesAxis__custom--GrapefruitBoulevardInvestmentsIncMember__srt--TitleOfIndividualAxis__custom--CurrentShareholdersMember__us-gaap--BusinessAcquisitionAxis__custom--PostAcquisitionMember__us-gaap--TypeOfArrangementAxis__custom--ShareExchangeAgreementMember_znEHIOR0qHH7" title="Acquisition ownership percentage">19</span>% of the post-Acquisition IGNG common shares. As a result, our financial statements are prepared using the acquisition method of accounting with Grapefruit as the accounting acquirer and IGNG treated as the legal acquirer and accounting acquiree. On December 16, 2019, Grapefruit filed the necessary paperwork with the Financial Industry Regulatory Authority (“FINRA”) and OTC Markets to effect the Company Name and Ticker symbol changes from “IGNG” to “GPFT” formally changing our corporate name from Imgaing3, Inc. to Grapefruit USA, Inc., a Delaware corporation whose stock is trading under the Ticker Symbol “GPFT”.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s annual distribution licensure renews again on June 13, 2023. Our annual manufacturing license was renewed by the California Department of Health. Grapefruit has not yet applied for a license to cultivate cannabis flowers and will not until construction of our cultivation facility has been substantially completed. We own two acres of fully entitled cannabis real property located in the Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park where we intend to build a <span id="xdx_907_eus-gaap--AreaOfLand_iI_pid_uSquareFoot_c20220630_zXFofbCLBZP3" title="Area of land">30,000</span> square foot fully licensed cannabis facility as more fully described below. The location within Coachillin’ allows the Company to apply for and hold every cannabis license available under the California Cannabis laws.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">The “Mothership” Cultivation &amp; Lab Facility</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2021, Grapefruit obtained a development permit to build a <span id="xdx_90C_eus-gaap--AreaOfLand_iI_pid_uSquareFoot_c20210731_zEQlmjKk6pl3" title="Area of land">30,000</span> square foot “Mothership” facility intended to house a state-of-the-art indoor grow as well as a separately licensed distribution hub and laboratory that will produce the patented Hourglass line of topical creams as well as high quality extracts from trim generated by processing the indoor cannabis flowers. We intend to obtain CGMP certification for the lab pursuant to the Good Manufacturing Practice regulations enforced by the Federal Drug Administration (“FDA”). We expect that our facility will meet proper design, monitoring, and manufacturing control processes to assure the strength, quality, and purity of all Hourglass products we manufacture. We anticipate the FDA to mandate all cannabis facilities to be CGMP certified to continue in operation if cannabis becomes legalized by the federal government.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Summit Boys</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In August 2021, the Company purchased control of Summit Boys, Inc., a cannabis extraction brand with product lines in retail stores throughout the State of California. The Company is continuing the Summit Boys’ business without interruption and is currently selling its branded products in California through Grapefruit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summit Boys’ premium extracts include sugar, crumble, badder, live resin, diamonds, budder, sauce, caviar and other extracted cannabis products, which are currently placed in licensed dispensaries throughout California and are protected by United States of America Trademark Reg. No. 6406802, July 6, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Grapefruit’s Business Development</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2020, we shifted our corporate focus from distribution operations to further development of our patented Hourglass™ Time Release THC+CBD-Infused Topical Cream. Hourglass is the first and only patented Full Spectrum THC+ Cannabinoid Topical delivery Cream that provides its users with a full body, synergistic entourage effect that was previously only available by smoking, vaping or eating cannabis products such as cannabis flowers and gummies. Our Topical Cream is scientifically designed to deliver the full effects of THC combined with a broad range of cannabinoids for a user’s overall health, wellness, and well-being. Hourglass products are laboratory tested. Test results published on every package via a designated QR Code. There is no other topical cream product on the market with our patented technology that provides users with the holistic benefits of the entourage effect of THC+CBD, CBN, CBG, Delta8, THCV and CBE. Hourglass™ is currently available in licensed retail and mobile cannabis dispensaries in Central California and Los Angeles County, California, USA. Hourglass™ is not intended for use to cure, mitigate, treat, or prevent disease and we are not making any such claims.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In July 2021, we decided to bring our patented Hourglass™ Time Release THC+CBD-Infused Topical Cream to the federally legalized Canadian cannabis marketplace. In January 2022, the company’s licensed Canadian distribution partner Medz Cannabis filed a Notice of New Cannabis Product (“NNCP”) with Health Canada on Grapefruit’s behalf for its Hourglass THC+CBD Topical cream. Health Canada is the Canadian federal government department that is responsible for national health policy. It approves and oversees the production of all cannabis products and is the licensing authority for all companies involved in the cannabis industry. Health Canada requires that all cannabis products meet federal regulatory requirements before they can be sold in Canada. Under Canada’s Federal Cannabis Regulatory scheme, Health Canada must be notified of a company’s intent to sell a cannabis product that has not previously been sold in the country.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 21, 2022, Health Canada approved the Company’s NNCP application authorizing Grapefruit to sell its patented Hourglass™ Time Release THC+CBD-Infused Topical Cream to licensed retail outlets throughout Canada under NNCP ID No. NP-V2EHUWO907.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2022, we expanded our distribution efforts to include retail and wholesale sales of our Summit Boys branded products in California.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grapefruit holds its State of California annual licensing from the Bureau of Cannabis Control and the California Department of Public Health. The Company has a permanent annually renewable license as opposed to a provisional or temporary one. The Company is one of the earliest registered distribution companies in the State of California to have an annually renewable license as opposed to the provisional licenses previously granted.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grapefruit operates within the Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park (the “Park”), located in Desert Hot Springs, California, 14 miles north of downtown Palm Springs. The Park is the first and largest cooperative canna-business compound of its kind. It is unique in that the landowners each own a proportionate interest in a collaborative owner’s association, which allows them to share much of the park overhead such as clean cultivation water, park security and access to agricultural power rates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Distribution</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In early 2021, the Company temporarily suspended its ‘bulk’ purchase and distribution of wholesale cannabis flower due to negative market forces in the wholesale cannabis market beyond the control of the Company. The Company can and will resume wholesale ‘bulk’ cannabis sales and distribution operations when market forces indicate such resumption is appropriate. Nonetheless, the Company continues to distribute ‘bulk’ concentrates to support our Summit Boys brand in California. In March 2022, we expanded our distribution efforts to include retail and wholesale sales of our Summit Boys branded products in California.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Manufacturing</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company owns a fully licensed ethanol extraction facility in the City of Desert Hot Springs, CA. The Company owns and operates a Type 6 Ethanol Extraction Plant which removes the essential cannabis compounds, such as THC Distillate, that we, and others use, to produce cannabis products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grapefruit manufactures its patented Hourglass™ Time Release THC+CBD-Infused Topical Cream at its Coachillin’ facility which allows us to maintain strict quality control standards. In addition, Grapefruit’s extraction lab produces high quality distillate or “Honey Oil” from cannabis trim sourced by Grapefruit. THC Honey Oil is a fundamental cannabis commodity which serves as the active ingredient in products from infused edibles to tinctures/creams. Grapefruit chose to set up its extraction laboratory in the City of Desert Hot Springs because, among other factors, the city does not tax the manufacture of oil by Grapefruit at its Desert Hot Springs extraction facility, thereby providing Grapefruit with an additional competitive advantage.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Binding Letter of Intent to Acquire Diagnostic Lab Corporation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 22, 2022, the Company entered into a Memorandum of Understanding with Diagnostic Lab Corporation, Inc., a Delaware corporation (“DLC”). On June 30, 2022, the Company entered into a Binding Letter of Intent (“LOI”) with DLC. Pursuant to the LOI, the Company will acquire the assets of DLC, its IP and all of its affiliated entities for a combination of cash and a to-be-determined number of the Company’s $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20220630__dei--LegalEntityAxis__custom--BindingLetterOfIntentMember_zgdsVxfru7W6" title="Common stock, par value">0.0001 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">par value common stock. The Company and DLC will jointly recapitalize the Company by raising $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn5n6_c20220101__20220630__dei--LegalEntityAxis__custom--BindingLetterOfIntentMember_zWVuPRz9V67b" title="Proceeds from issuance initial public offering">12.5 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million (inclusive of a currently committed $<span id="xdx_906_eus-gaap--NotesPayable_iI_pn5n6_c20220630__dei--LegalEntityAxis__custom--BindingLetterOfIntentMember_z3hHpVZFH1m" title="Notes payable">5.5 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">million debt facility) which will enable the Company to construct its <span style="color: #202124; background-color: white">Good Manufacturing Practices (“cGMP”)</span> certified Desert Hot Springs, CA, Coachillin Park. The “Mothership” facility which will house a state-of-the-art indoor cultivation, manufacturing laboratory and distribution facility. In addition, the recapitalization will fund the Company’s Hourglass 510K Project, the Medical Study of the effects of Hourglass powered products on osteoarthritis sufferers and afford sufficient working capital and interest payment reserves to allow the post-transaction Company to reach positive cash flow. As of August 20, 2022, <span style="background-color: white">the Company is in the process of finalizing its due diligence on DLC and is in the final stages of negotiating the terms of its anticipated financing and structuring of the transaction documents. </span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Area Of Land
AreaOfLand
30000
CY2021Q3 us-gaap Area Of Land
AreaOfLand
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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_zVp4dMEEKkEi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_861_zQ5DQ0rt70xa">Use of Estimates</span></i></b> – The preparation of our financial statements in conformity with U.S. GAAP requires us to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of our financial statements and the reported amounts of revenues and expenses during the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We make our estimate of the ultimate outcome for these items based on historical trends and other information available when our financial statements are prepared. We recognize changes in estimates in accordance with the accounting rules for the estimate, which is typically in the period when new information becomes available. We believe that our significant estimates, assumptions and judgments are reasonable, based upon information available at the time they were made. Our actual results could differ from these estimates, making it possible that a change in these estimates could occur in the near term. The company’s most significant estimates related to useful life for depreciation, the value of long-lived assets and related impairment, and provision for income taxes of property and equipment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
us-gaap Inventory Write Down
InventoryWriteDown
68941 usd
GPFT Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
561807925 shares
CY2021 GPFT Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
515339023 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
3498 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1849495 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5504670 usd
us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p id="xdx_84E_eus-gaap--DerivativesReportingOfDerivativeActivity_zvcxqYKl7oZ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zkTYGyKqzZjc">Derivative Financial Instruments</span> - </i></b>The Company generally does not use derivative financial instruments to hedge exposures to cash-flow risks or market-risks that may affect the fair values of its financial instruments. The Company utilizes various types of financing to fund its business needs, including convertible notes and warrants and other instruments not indexed to our stock. The Company is required to record its derivative instruments at their fair value. Changes in the fair value of derivatives are recognized in earnings in accordance with ASC 815. The Company’s only asset or liability measured at fair value on a recurring basis is its derivative liability associated with warrants to purchase common stock and convertible notes.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
127392 usd
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
127392 usd
us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
more than 50 percent
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_842_eus-gaap--ConcentrationRiskCreditRisk_zroF1JGS0L22" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zw87m21pkX4i">Concentration of Credit Risk</span></i></b> – Financial instruments that potentially subject us to credit risk consist of cash. We maintain our cash with high credit quality financial institutions; at times, such balances with any one financial institution may not be insured by the FDIC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
762 usd
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
278422 usd
CY2022Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
250054 usd
us-gaap Net Income Loss
NetIncomeLoss
-1849495 usd
CY2022Q2 GPFT Working Capital Deficit
WorkingCapitalDeficit
6876837 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18675659 usd
CY2022Q2 GPFT Operating Lease Right Of Use Asset Current And Non Current
OperatingLeaseRightOfUseAssetCurrentAndNonCurrent
15928 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
15928 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
24932 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6804 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10206 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17010 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1082 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
15928 usd
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
85294 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
84951 usd
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
20000 usd
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
234018 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
304331 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
339312 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
389282 usd
CY2022Q2 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
690 usd
CY2021Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
20904 usd
us-gaap Inventory Write Down
InventoryWriteDown
68941 usd
CY2022Q2 GPFT Vehicle
Vehicle
41142 usd
CY2021Q4 GPFT Vehicle
Vehicle
41142 usd
CY2022Q2 GPFT Furniture And Equipment
FurnitureAndEquipment
7494 usd
CY2021Q4 GPFT Furniture And Equipment
FurnitureAndEquipment
7494 usd
CY2022Q2 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
302636 usd
CY2021Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
302636 usd
CY2022Q2 GPFT Extraction Laboratory
ExtractionLaboratory
126707 usd
CY2021Q4 GPFT Extraction Laboratory
ExtractionLaboratory
126707 usd
CY2022Q2 GPFT Warehouse Facility
WarehouseFacility
50158 usd
CY2021Q4 GPFT Warehouse Facility
WarehouseFacility
50158 usd
CY2022Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
1505012 usd
CY2021Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
1505012 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
307888 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
263522 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1725261 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1769627 usd
us-gaap Depreciation
Depreciation
44366 usd
us-gaap Depreciation
Depreciation
46113 usd
CY2018Q2 GPFT Capital Lease Term
CapitalLeaseTerm
P48M
CY2018Q2 GPFT Capital Lease Monthly Payments
CapitalLeaseMonthlyPayments
4575 usd
CY2018Q2 GPFT Capital Lease Interest Rates
CapitalLeaseInterestRates
0.15 pure
CY2018Q2 GPFT Capital Lease Maturity Date
CapitalLeaseMaturityDate
February 2022
CY2019Q2 GPFT Capital Lease Term
CapitalLeaseTerm
P48M
CY2019Q2 GPFT Capital Lease Monthly Payments
CapitalLeaseMonthlyPayments
1935 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
702581 usd
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11710465 shares
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
11610 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
7740 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
19350 usd
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
386 usd
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
18964 usd
CY2022Q1 us-gaap Related Party Costs
RelatedPartyCosts
56000 usd
CY2022Q2 us-gaap Related Party Costs
RelatedPartyCosts
56000 usd
CY2022Q2 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1200000 usd
CY2022Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
545818 usd
CY2022Q2 us-gaap Debt Instrument Convertible Conversion Ratio1
DebtInstrumentConvertibleConversionRatio1
0.075 pure
CY2022Q2 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
23277573 shares
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
241000 usd
CY2021Q4 us-gaap Convertible Debt
ConvertibleDebt
3966048 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1200000 usd
GPFT Debt Conversion Converted Instrument Amount Discount
DebtConversionConvertedInstrumentAmountDiscount
90043 usd
CY2022Q2 us-gaap Convertible Debt
ConvertibleDebt
2676005 usd
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1265826 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M2D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
750000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.35
CY2021Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
127392 usd
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
-123894 usd
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
2527000 shares
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
57809 usd
GPFT Shares Issued Related To Settlement Shares Value
SharesIssuedRelatedToSettlementSharesValue
35127 usd
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
23277573 shares
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
6349937 shares
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
250064 usd
GPFT Shares Issued Related To Settlement Shares Value
SharesIssuedRelatedToSettlementSharesValue
2281695 usd
GPFT Shares Issued Upon Warrant Exercise Shares
SharesIssuedUponWarrantExerciseShares
2000000 shares
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.125
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward
750000 shares
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.025
CY2021Q4 GPFT Stock Issued During Period Vesting Of Shares
StockIssuedDuringPeriodVestingOfShares
250000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
250000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
GPFT Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P3Y25D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
750000 shares
GPFT Share Based Compensation Arrangement By Share Based Payment Award Options Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGranted
0.025
GPFT Share Based Compensation Arrangement By Share Based Payment Award Term Options Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermOptionsGranted
P4Y9M3D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1000000 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.27
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M2D
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
20000000 shares
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.075
CY2022Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
3498 usd
CY2022Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
8869 usd

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