California-based Grapefruit Boulevard Investments, a wholly owned subsidiary of Imaging3 (OTCQB: IGNG), this morning announced that it filed its quarterly report on Form 10-Q with the SEC on August 14, 2019. The report did not show any of the financial results of Grapefruit’s operations due to the delayed final closing of the reverse acquisition of IGNG by Grapefruit which took place after the end of the second quarter. The operational results of Grapefruit will be reflected in the company’s Pro Forma Consolidated Financial Statements included in both its “Super 8-K” filing and the first amendment to its registration statement on Form S-1, both of which are anticipated to be filed with the SEC in mid-September. IGNG’s third quarter report on Form 10-Q will be filed on or before November 14, 2019 and will be the consolidated companies’ first joint periodic report. Additionally, on Tuesday August 13, 2019, the company reapplied to OTCMarkets to uphold its OTCQB listing. Grapefruit also notified the OTCMarkets staff that it will be applying to FINRA to change the Delaware parent company’s name from Imaging3, Inc. to Grapefruit USA, Inc. and will be seeking a ticker symbol change to “GUSA”, “GRAP” or “GRPE”. The company plans to apply for FINRA approval of these corporate actions next week. “We believe this corporate name and ticker symbol change will greatly accelerate establishment of our own identity as we decisively disassociate Grapefruit from the company’s past. We also believe the new corporate name and ticker symbol chosen will operate with powerful synergy to fuse our brand name with our corporate identity as many great American Companies have done prior to us. Grapefruit’s launch is upon us,” Grapefruit Boulevard Investments CEO Bradley J. Yourist stated in the news release.
To view the full press release, visit http://ibn.fm/3KXlR
About Grapefruit Boulevard Investments Inc.
Grapefruit Boulevard Investments, a wholly owned subsidiary of Imaging3 Inc. (OTCQB: IGNG), holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s cannabis and CBD extraction laboratory and distribution facilities are located in the industry recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 10 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January of 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis and CBD product company. For more information, visit the company’s website at www.GrapefruitBlvd.com.
NOTE TO INVESTORS: The latest news and updates relating to IGNG are available in the company’s newsroom at http://ibn.fm/IGNG
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