SEC Comment Letter for Grapefruit USA, Inc (GPFT) (CIK 0001205181) — May 4, 2020
Grapefruit USA, Inc (GPFT) (CIK 0001205181)
Date: May 4, 2020 · CIK: 0001205181 · Accession: 0000000000-20-003867
AI Filing Summary & Sentiment
File numbers found in text: 000-50099
Letter
United States securities and exchange commission logo May 4, 2020 Bradley Yourist Chief Executive Officer Grapefruit USA, Inc 10866 Wilshire Boulevard, Suite 225 Los Angeles, CA 90024 Re:Grapefruit USA, Inc Form 10-K for Fiscal Year Ended December 31, 2019 Filed April 10, 2020 File No. 000-50099 Dear Mr. Yourist: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for Fiscal Year Ended December 31, 2019 Financial Statements for the Years Ended December 31, 2019 and 2018, page 23 1.It appears that there have been certain changes to the financial statements presented in your Form 10-K compared to those previously filed in your Exchange Act reports. Please tell us about any changes made to your financial statements and explain why they were made. If changes were made to correct errors in your previously issued financial statements, provide the disclosures required by FASB ASC 250-10-50-7, and tell us how you considered filing an Item 4.02 Form 8-K. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Diane Fritz, Staff Accountant, at (202) 551-3331 or Ethan Horowitz, Accounting Branch Chief, at (202) 551-3311 with any questions.
FirstName LastNameBradley Yourist Comapany NameGrapefruit USA, Inc May 4, 2020 Page 2 FirstName LastName Bradley Yourist Grapefruit USA, Inc May 4, 2020 Page 2 Sincerely, Division of Corporation Finance Office of Energy & Transportation
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United States securities and exchange commission logo
May 4, 2020
Bradley Yourist
Chief Executive Officer
Grapefruit USA, Inc
10866 Wilshire Boulevard, Suite 225
Los Angeles, CA 90024
Re:Grapefruit USA, Inc
Form 10-K for Fiscal Year Ended December 31, 2019
Filed April 10, 2020
File No. 000-50099
Dear Mr. Yourist:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comments. In some of our comments, we may ask you to
provide us with information so we may better understand your disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Form 10-K for Fiscal Year Ended December 31, 2019
Financial Statements for the Years Ended December 31, 2019 and 2018, page 23
1.It appears that there have been certain changes to the financial statements presented in
your Form 10-K compared to those previously filed in your Exchange Act reports. Please
tell us about any changes made to your financial statements and explain why they were
made. If changes were made to correct errors in your previously issued financial
statements, provide the disclosures required by FASB ASC 250-10-50-7, and tell us how
you considered filing an Item 4.02 Form 8-K.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact Diane Fritz, Staff Accountant, at (202) 551-3331 or Ethan Horowitz,
Accounting Branch Chief, at (202) 551-3311 with any questions.
FirstName LastNameBradley Yourist
Comapany NameGrapefruit USA, Inc
May 4, 2020 Page 2
FirstName LastName
Bradley Yourist
Grapefruit USA, Inc
May 4, 2020
Page 2
Sincerely,
Division of Corporation Finance
Office of Energy & Transportation