Pineapple Express Cannabis Co. Files Q1 2024 10-Q

TL;DR

Pineapple Express Cannabis Co. filed its 10-Q for Q1 2024, showing financial updates.

AI Summary

Pineapple Express Cannabis Co. filed its 10-Q for the period ending April 30, 2024. The company, formerly known as MINARO CORP, is incorporated in Nevada and operates in the software services sector. Its principal business address is in Los Angeles, California.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Pineapple Express Cannabis Co. during its first fiscal quarter of 2024.

Risk Assessment

Risk Level: medium — As a cannabis-related company, it faces regulatory and market risks inherent to the industry.

Key Numbers

• 20240430 — Period End Date (Latest reported quarter)
• 20240626 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• PINEAPPLE EXPRESS CANNABIS Co (company) — Filer
• MINARO CORP (company) — Former company name
• 0001493152-24-025203 (other) — Accession Number
• 20240430 (date) — Period of Report
• 20240626 (date) — Filing Date
• NV (other) — State of Incorporation
• CA (other) — State of Business Address

FAQ

Key Financial Figures

• $0 — 4,550 shares of common stock, par value $0.001, issued and outstanding. Table of
• $540,904 — es") in exchange for a payment by us of $540,904; and (b) Ms. Lazaridou resigned as our
• $1,964 — 2023, the Company generated revenues of $1,964 and $0, respectively. The increase was
• $5,580 — nths ended April 30, 2024 and 2023 were $5,580 and $29,706, respectively. The increase
• $29,706 — April 30, 2024 and 2023 were $5,580 and $29,706, respectively. The increase was primari
• $730 — l 30, 2024 consisted of bank charges of $730; depreciation expense of $115; and prof
• $115 — harges of $730; depreciation expense of $115; and professional fees of $4,735. Opera
• $4,735 — pense of $115; and professional fees of $4,735. Operating expenses for the three month
• $16,022 — eciation expense of $115; legal fees of $16,022; audit fees of $12,500; consulting fees
• $12,500 — 5; legal fees of $16,022; audit fees of $12,500; consulting fees of $0; and professiona
• $1,069 — ng fees of $0; and professional fees of $1,069. 12 Net Income (Loss) Net income
• $3,616 — nths ended April 30, 2024 and 2023 was ($3,616) and $179,708 respectively. The increas
• $179,708 — pril 30, 2024 and 2023 was ($3,616) and $179,708 respectively. The increase in net incom
• $927,190 — ash of $0 and an accumulated deficit of $927,190. To date, we have financed our operatio

Filing Documents

• form10-q.htm (10-Q) — 309KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-025203.txt ( ) — 1698KB
• pnxp-20240430.xsd (EX-101.SCH) — 14KB
• pnxp-20240430_cal.xml (EX-101.CAL) — 23KB
• pnxp-20240430_def.xml (EX-101.DEF) — 35KB
• pnxp-20240430_lab.xml (EX-101.LAB) — 134KB
• pnxp-20240430_pre.xml (EX-101.PRE) — 95KB
• form10-q_htm.xml (XML) — 121KB

—Financial Information

Part I—Financial Information 4 Item 1.

Financial Statements

Financial Statements 4 Consolidated Balance Sheets at April 30, 2024 (Unaudited) and January 31, 2024 4 Consolidated Statements of Operations for the Three Months Ended April 30, 2024 and 2023 (Unaudited) 5 Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended April 30, 2024 and 2023 (Unaudited) 6 Consolidated Statements of Cash Flows for the Three Months Ended April 30, 2024 and 2023 (Unaudited) 7 Notes to Unaudited Consolidated Financial Statements 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 13 Item 4.

Controls and Procedures

Controls and Procedures 14

—Other Information

Part II—Other Information 14 Item 1.

Legal Proceedings

Legal Proceedings 14 Item 1A.

Risk Factors

Risk Factors 14 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 5. Other Information 15 Item 6. Exhibits 15

Signatures

Signatures 16 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report includes "forward-looking statements" within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include statements we make concerning our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this quarterly report, the words "estimates," "expects," "anticipates," "projects," "forecasts," "plans," "intends," "believes," "foresees," "seeks," "likely," "may," "might," "will," "should," "goal," "target" or "intends" and variations of these words or similar expressions (or the negative versions of any such words) are intended to identify forward-looking statements. All forward-looking statements are based upon information available to us on the date of this Quarterly Report. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks and uncertainties are discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended January 31, 2024, filed with the Securities and Exchange Commission on June 3, 2024, as the same may be updated from time to time. All forward-looking statements attributable to us in this Quarterly Report apply only as of the date of this Quarterly Report and are expressly qualified in their entirety by the cautionary statements included in this Quarterly Report. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to publicly update or revise forward-lo

financial statements with respect to any matters

financial statements with respect to any matters. Note 6 – SUBSEQUENT EVENTS In accordance with ASC 855, "Subsequent Events", the Company has analyzed its operations subsequent to April 30, 2024, through June 24, 2024, and has determined that it does not have any material subsequent events to disclose in these unaudited financial statements. 10 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of the financial condition and results of operations of Pineapple Express Cannabis Company (f/k/a Minaro Corp.) and its subsidiaries (together, the "Company" or "Pineapple Express Cannabis") should be read in conjunction with our unaudited consolidated financial statements and the accompanying notes thereto included elsewhere in this Quarterly Report on Form 10-Q. References in this Management's Discussion and Analysis of Financial Condition and Results of Operations to "us," "we," "our," and similar terms refer to the Company. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the Risk Factors section of our Annual Report on Form 10-K for the year ended January 31, 2023, filed with the Securities and Exchange Commission (the "SEC") on May 24, 2023, as the same may be updated from time to time. We use words such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions to identify forward-looking statements. Overview We are based in Los Angeles, California. Our wholly owned operating subsidiary, Ananas Growth Ventures, serves as an incubator, helping early-stage ven

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