Los Angeles/Desert Hot Springs, CA, Jan. 08, 2020 (GLOBE NEWSWIRE)
— Grapefruit Boulevard Investments, Inc., (“GBI”) a California based
cannabis company and a wholly owned subsidiary of Imaging3, Inc., a
Delaware corporation (“IGNG”) (OTCQB: IGNG) (collectively “Grapefruit”
or the “Company”) is announcing today that the initial round of
laboratory testing of the time release efficacy of its patented THC
“Patchless Patch™” topical cream yielded successful results. The testing
was performed using the Method described under United States
Pharmacopeia Chapter 1724, commonly known as “Utilization of a Vertical
Franz Diffusion Cell” in conjunction with a PVDF membrane, pore size of
0.2 μm. The use of a Franz diffusion cell to assess skin permeability is
a well-recognized in vitro release-testing research methodology that
provides key insights into the relationships between skin, drug and
formulation.1 This particular Method was used to simulate the absorption
rate of THC Cannabinoids through human skin. The THC Cannabinoids that
crossed the membrane were measured at various time points using HPLC or
High Performance Liquid Chromatography. The results demonstrate that
Grapefruit’s THC Patchless Patch is able to deliver a consistent and
predictable pre-defined dose of THC through a user’s skin over an
approximate ten hour period of time.
With respect to the testing results of the Patchless Patch time-release mechanism, Bradley J. Yourist, Grapefruit CEO, stated, “the results of these tests of Grapefruit’s patented THC Cannabinoid time-release Patchless Patch have demonstrated its efficacy. Grapefruit believes that the consistent and sustained delivery of THC Cannabinoids over a defined period has the potential to change the manner in which chronic long-term pain and other disorders are managed. It also has the potential to provide an alternative to the use of highly addictive opioids for the treatment of chronic pain. Our hope is that this potentially game-changing technology will allow people who suffer from chronic pain and other disorders to lead more active and productive lives. Furthermore, our THC Patchless Patch has obvious applications in the recreational cannabis context for use at events such as concerts and movies as well as transcontinental flights. We are targeting the end of the Second Quarter of 2020 to bring the product to market. We will keep our shareholders and the public apprised of further developments with the THC Patchless Patch as they occur.”
To learn more about Grapefruit’s THC Cannabinoid Patchless Patch, please visit our website at:
Grapefruit is a wholly owned subsidiary of Imaging3, Inc. Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s 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 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 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 product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
Safe Harbor Statement
Imaging3 cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words “anticipate,” “believe,” “estimate,” “may” “intend,” “expect” and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may not ever obtain additional funds necessary to support its business development and growth plans; and the company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
1 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3986717/ Source: Imaging3, Inc.
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