Pineapple Inc. Files 2021 Q1-Q3 Quarterly Reports and Becomes Current with SEC Reporting Obligations

Rhea-AI Summary

Pineapple, Inc. (OTC Grey: PNPL) has completed final steps to resume trading on the OTC Markets platform, anticipating a relisting by year-end. CEO Shawn Credle expressed confidence in the company's progress toward obtaining OTCQB designation, a higher trading tier. The firm has filed quarterly results with the SEC for periods ending March 31, June 30, and September 30, 2021. Pineapple operates in the legal cannabis sector with interests in management, IP licensing, and retail through subsidiaries like Pineapple Express and Pineapple Wellness.

Positive

• Completion of necessary steps for OTC trading resumption.
• Anticipation of OTCQB designation for improved trading tier.
• Filed quarterly results with SEC, enhancing transparency.

Negative

• Currently listed on the Grey Market, which may limit investor confidence.

Company completes final steps before trading on the OTC expected to resume

LOS ANGELES, CA, Nov. 30, 2021 (GLOBE NEWSWIRE) -- PINEAPPLE, INC. (OTC Grey: PNPL) (the “Company” or “Pineapple”), 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 quarterly results for the periods ending March 31, June 30, and September 30, 2021, with the United States Securities and Exchange Commission (the “SEC”). The Company’s 2021 Quarterly Reports, as well as all other filings, can be found at: https://sec.report/CIK/0001654672.

CEO & President Shawn Credle commented, “We are anticipating the completion of necessary steps prior to being re-listed as an over–the-counter stock on the OTC Markets platform. Once there, normalized trading can commence for our shareholders and the Company will immediately be pursuing an OTCQB designation, which is a higher trading tier on the OTC Markets platform. The Company has already begun the process of contacting OTC Markets Group and completing the forms necessary for the upgraded tier. That filing only happens once the Company is placed back on the Pink Market from the Grey Market, where it currently is domiciled. We have never been this close to rehabilitating the Company so it feels great that we were able to cross this final hurdle. We aim to be trading on the OTC Markets platform by year-end.”

About Pineapple, Inc.

Pineapple, Inc. (the “Company” or “Pineapple”) is based in Los Angeles, California. Through its operating subsidiary Pineapple Express Consulting, Inc., as well as its 45% owned portfolio company, Pineapple Ventures, Inc. (“PVI”), the Company runs a cannabis delivery service, Pineapple Express, via www.PineappleExpress.com, as well as hemp CBD e-commerce company, Pineapple Wellness, via www.PineappleWellness.com. PVI also provides capital to its canna-business clientele, leases real properties to those canna-businesses, takes equity positions and manages those operations, and provides 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 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 is Pineapple Inc.'s stock symbol?

Pineapple Inc.'s stock symbol is PNPL.

When is Pineapple Inc. expected to resume trading?

Pineapple Inc. expects to resume trading by year-end.

What quarterly results did Pineapple Inc. file?

Pineapple Inc. filed quarterly results for March 31, June 30, and September 30, 2021.

What market tier is Pineapple Inc. aiming for?

Pineapple Inc. is aiming for OTCQB designation after relisting.

Where can I find Pineapple Inc.'s SEC filings?

Pineapple Inc.'s SEC filings can be found on their website or through the SEC's report database.