Pineapple Express Cannabis Co. Files 2024 10-K

TL;DR

Pineapple Express Cannabis Co. 10-K filed. Financials for FY24 out, showing changes in stock, capital, and retained earnings.

AI Summary

Pineapple Express Cannabis Co. filed its 10-K for the fiscal year ending January 31, 2024. The company, formerly Minaro Corp, is incorporated in Nevada and headquartered in Los Angeles, California. The filing covers financial data for the fiscal years 2022, 2023, and 2024, detailing changes in common stock, additional paid-in capital, subscription receivable, and retained earnings.

Why It Matters

This filing provides a comprehensive overview of Pineapple Express Cannabis Co.'s financial health and performance over the past three fiscal years, crucial for investors and stakeholders to assess the company's stability and growth prospects.

Risk Assessment

Risk Level: medium — The company operates in the cannabis industry, which faces significant regulatory and market risks, and the filing details financial performance metrics that require careful analysis.

Key Numbers

• FY 2024 — Fiscal Year (Most recent fiscal year reported)
• FY 2023 — Fiscal Year (Previous fiscal year reported)
• FY 2022 — Fiscal Year (Year prior to that)

Key Players & Entities

• PINEAPPLE EXPRESS CANNABIS Co (company) — Filer
• MINARO CORP (company) — Former company name
• 2024-01-31 (date) — Fiscal year end
• 20240603 (date) — Filing date
• LOS ANGELES (location) — Business address city
• NV (location) — State of incorporation

FAQ

Key Financial Figures

• $0.0000001 — 2(g) of the Exchange Act: Common Stock, $0.0000001 par value Common stock, par value $0.
• $0 — 001 par value Common stock, par value $0. 001 (Title of each class) Indicate
• $540,904 — xchange for a payment by the Company of $540,904 and (b) Lazaridou, as of December 21, 2
• $1.3 — ident Donald J. Trump signed into law a $1.3 trillion-dollar spending bill that incl

Filing Documents

• form10-k.htm (10-K) — 694KB
• ex19-1.htm (EX-19.1) — 93KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-k_001.jpg (GRAPHIC) — 5KB
• 0001493152-24-022263.txt ( ) — 2556KB
• pnxp-20240131.xsd (EX-101.SCH) — 16KB
• pnxp-20240131_cal.xml (EX-101.CAL) — 25KB
• pnxp-20240131_def.xml (EX-101.DEF) — 41KB
• pnxp-20240131_lab.xml (EX-101.LAB) — 187KB
• pnxp-20240131_pre.xml (EX-101.PRE) — 140KB
• form10-k_htm.xml (XML) — 158KB

Selected Financial Data

Selected Financial Data. 20 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 20 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 21 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 22 Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure. 32 Item 9A (T).

Controls and Procedures

Controls and Procedures 32 Item 9B. Other Information. 34 PART III Item 10 Directors, Executive Officers, Promoters and Control Persons of the Company. 34 Item 11.

Executive Compensation

Executive Compensation. 35 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 36 Item 13. Certain Relationships and Related Transactions, and Director Independence. 36 Item 14. Principal Accounting Fees and Services. 36 PART IV Item 15. Exhibits 37

Signatures

Signatures 38 2 Use of Market and Industry Data This Annual Report on Form 10-K for the fiscal year ended January 31, 2024 (this "Annual Report") includes market and industry data that we have obtained from third-party sources, including industry publications, as well as industry data prepared by our management on the basis of its knowledge of and experience in the industries in which we operate (including our management's estimates and assumptions relating to such industries based on that knowledge). Management has developed its knowledge of such industries through its experience and participation in these industries. While our management believes the third-party sources referred to in this Annual Report are reliable, neither we nor our management have independently verified any of the data from such sources referred to in this Annual Report or ascertained the underlying economic assumptions relied upon by such sources. Furthermore, references in this Annual Report to any publications, reports, surveys, or articles prepared by third parties should not be construed as depicting the complete findings of the entire publication, report, survey, or article. The information in any such publication, report, survey, or article is not incorporated by reference in this Annual Report. Forecasts and other forward-looking information obtained from these sources involve risks and uncertainties and are subject to change based on various factors, including those discussed in sections entitled "Forward-Looking Statements," "Item 1A. Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Annual Report. Trademarks, Service Marks and Trade Names This Annual Report contains references to our trademarks, service marks and trade names and to trademarks, service marks and trade names belonging to other entities. Solely for convenience, trademarks, service marks and trade names referred to in this Annual Report

Business

Business Operations Pineapple Express Cannabis Company is based in Los Angeles, California. The Company's wholly owned operating subsidiary, Ananas Growth Ventures, serves as an incubator, helping early-stage ventures and startups in the cannabis sector through funding, mentoring, and training. The Company is also engaged in legal cannabis retail through its 50% owned equity method investee, Pineapple Consolidated Inc. ("PCI"). PCI runs Pineapple Express, a cannabis retailer and owns and manages retail cannabis ventures. PCI seeks to become a leading portfolio management company in the U.S. cannabis industry. With its headquarters in Los Angeles, Pineapple Express is rapidly increasing its footprint throughout California and is looking to scale into underdeveloped markets. PCI has executed management contracts for 10% revenue sharing with nine entities in which it holds an equity interest through its wholly owned subsidiary, PNPL Holdings, Inc. Those entities are shown below: PNPLXpress X, Inc. ("Van Nuys Dispensary"): 10% as of January 31, 2024 (dispensary and delivery). Goldstar Industrees ("Northridge Dispensary"): 29% as of January 31, 2024 (dispensary and delivery). PNPLXpress, Inc. ("Hollywood Dispensary"): 10% equity interest as of January 31, 2024 (dispensary and delivery). PNPLXpress II, Inc. ("Northeast LA Dispensary"): 49% interest as of January 31, 2024 (dispensary and delivery). Pineapple Equities, Inc. ("Beverly Grove Dispensary"): 24% equity interest as of January 31, 2024 (dispensary and delivery). 5660 W. Pico & Hope (Mid-Wilshire Dispensary): 49% equity interest as of January 31, 2024 (dispensary and delivery). 2378 Westwood Partners (Westwood Dispensary): 19% equity interest as of January 31, 2024 (dispensary and delivery). 19841 Ventura & Hope (Woodland Hills Dispensary): 49% equity interest as of January 31, 2024 (dispensary and delivery). 1485 W. Sunset & Hope (Echo Park Dispensary): 29% equity interest as of January 31, 2

View Full Filing

View this 10-K filing on SEC EDGAR