Pineapple, Inc. Files 2019 Comprehensive Annual Report

Rhea-AI Summary

Pineapple, Inc. (PNPL) announced the filing of its comprehensive annual report for fiscal year 2019 with the SEC, aiming for an up-listing to OTCQB. This strategic move is designed to enhance shareholder transparency and increase market awareness. Chairman Matthew Feinstein emphasized that this step is pivotal for advancing the company’s goals, while CEO Shawn Credle celebrated over two years of dedicated efforts to revitalize the company. Pineapple operates in the cannabis industry with interests in delivery services, CBD e-commerce, and consulting.

Positive

• Filed comprehensive 10-K report for fiscal year 2019, crucial for transparency and regulatory compliance.
• Aiming to up-list to OTCQB, potentially increasing market visibility and share liquidity.

Negative

• Dependence on regulatory approval for up-listing, which may pose risks to timely execution.
• Ongoing uncertainties in the legal cannabis space could impact business growth and client acquisition.

Company Files Super 10-K in advance of anticipated OTCQB Up-listing

LOS ANGELES, Feb. 16, 2021 (GLOBE NEWSWIRE) -- PINEAPPLE, INC. (OTC Grey: PNPL) (the “Company” or “Pineapple”) is a publicly traded company in the legal cannabis industry with a portfolio of assets spanning operational management, technology, IP licensing, cannabis property rentals, and equity ownership in cannabis retail and production facilities. The Company today announced it has filed its comprehensive annual report for the fiscal year ending December 31, 2019, inclusive of quarterly results for the periods ending March 31, June 30, and September 30, 2019, with the United States Securities and Exchange Commission (“SEC”). The Company’s 2019 Annual Report can be found at https://www.sec.gov/Archives/edgar/data/1654672/000149315221003729/form10-k.htm .

Commenting on the filing, Pineapple, Inc. Chairman Matthew Feinstein said, “filing this annual report with audited financial statements allows the Company to advance significantly in its efforts to propel Pineapple, Inc. to an elevated tier such as the OTCQB. A higher trading tier will provide our shareholders with increased transparency, reporting, and in turn, we should achieve our goals of more awareness for Pineapple, Inc. We are finally nearing the finish line to the next level.”

CEO Shawn Credle further added, "I am overjoyed that we are nearing the end of over two years worth of hard work to rehab our stock and organization overall. The tireless passion driven work ethic my team here at Pineapple put forth to ensure that we kept our promise to our shareholders is immeasurable. It speaks directly to part of our mission statement "...with sustainability at our core, we’ll continue to grow our organization with the same integrity and transparency that we use to cultivate our products." I'm so proud of how far we've come and excited for how far we will go. Let's go Pineapple!" The Company also announced that it has engaged with a market maker to file a Form 15c-2ll with FINRA in order to up-list to an elevated trading tier.

About Pineapple, Inc.

Pineapple, Inc. (the “Company” or “Pineapple”) is based in Los Angeles, California. Through our operating subsidiary Pineapple Express Consulting, Inc., as well as our 45% owned portfolio asset, Pineapple Ventures, Inc. (“PVI”), the Company runs a cannabis delivery service, Pineapple Express, via PineappleExpress.com as well as hemp CBD e-commerce company, Pineapple Wellness, via PineappleWellness.com. PVI also provides capital to its canna-business clientele, lease real properties to those canna-businesses, take equity positions and manage those operations, and provide consulting and technology to develop, enhance, or expand existing and newly formed infrastructures. Pineapple is built to become the leading portfolio management company in the U.S. cannabis sector. The Company’s executive team blends enterprise-level corporate expertise with a combined three decades of experience operating in the tightly-regulated cannabis industry. Pineapple’s strategic asset integration has provided it with the infrastructure to support its subsidiaries with cost-effective access to all segments of the vertical: from cultivation and processing, to distribution, retail and delivery. With its headquarters in Los Angeles, California Pineapple’s portfolio company, PVI, is rapidly increasing its footprint throughout the state and looking to scale into underdeveloped markets.

Forward-Looking Statements:

All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “expects”, “anticipates”, “intends”, “estimates”, “plans”, “potential”, “possible”, “probable”, “believes”, “seeks”, “may”, “will”, “should”, “could” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the application and enforcement of U.S. and state federal laws in the cannabis industry (including to the Company’s business activities and the business activities of some of its customers and counterparties), ability to attract new canna-business clientele, successfully implementing the Company’s growth strategy (including relating to the Company’s intention to create a nationally branded and vertically integrated chain of cannabis retail stores under the “Pineapple Express” name and anticipated development of Company-owned cultivation and processing facilities), dependence on key Company personnel, timing of the filing the Company’s Form 211 with FINRA and clearing related comments, obtaining approval for the Company’s common stock to be quoted on one of the three OTC Markets, changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 12, 2021 (the “SEC”), and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law.

Company Contact:
Matthew Feinstein, Director
Pineapple, Inc.
Office: 877-310-PNPL

FAQ

What does the recent press release from Pineapple, Inc. indicate about their financial reporting for 2019?

Pineapple, Inc. filed its comprehensive annual report for 2019 with the SEC, which is essential for regulatory compliance as they aim to up-list to OTCQB.

How does Pineapple, Inc. plan to improve shareholder transparency?

The company seeks to enhance transparency by moving to a higher trading tier, OTCQB, which provides better reporting and visibility.

What is the significance of filing a Form 15c-211 for Pineapple, Inc.?

Filing Form 15c-211 is a step towards up-listing to OTCQB, which could help improve the company's market presence and attract more investors.

What challenges does Pineapple, Inc. face in the cannabis industry?

Pineapple, Inc. faces uncertainties in regulatory approval processes and competition within the evolving cannabis market.