pennypauly
12 meses hace
Pineapple Express Cannabis Company to Launch 9 Additional Dispensaries in Metro Los Angeles to Accompany Pineapple Express Hollywood Flagship
Mentioned: PNPL PNXP
GlobeNewswireNovember 02, 2023
Company's 50% owned asset signs agreements to manage 9 additional dispensaries in metro Los Angeles; Company holds equity in all
LOS ANGELES, CA, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Pineapple Express Cannabis Company (OTC: PNXP) (the "Company" or "Pineapple Express"), a publicly traded company, today announced the licensing, leasehold, and development of 9 additional retail dispensary locations throughout Los Angeles to supplement its flagship Pineapple Express Hollywood location. The Company shall partially own the dispensary assets while the Company's 50% owned asset, Pineapple Consolidated Inc., has been contracted to manage said dispensaries.
Pineapple Express confirmed the names and locations of the dispensaries as follows:
PINEAPPLE EXPRESS ECHO PARK (1485 W Sunset Blvd., Los Angeles)
PINEAPPLE EXPRESS VENTURA (19841 Ventura Blvd., Woodland Hills)
PINEAPPLE EXPRESS WESTWOOD (2378 Westwood Blvd., Los Angeles)
PINEAPPLE EXPRESS LA BREA (467 S. La Brea Ave., Los Angeles)
PINEAPPLE EXPRESS BEVERLY GROVE (8342 W. 3rd Street, Los Angeles)
PINEAPPLE EXPRESS HIGHLAND PARK (Highland Park, Los Angeles)
PINEAPPLE EXPRESS NORTHRIDGE (8912 Reseda Blvd., Northridge)
PINEAPPLE EXPRESS LAKE BALBOA (7542 Balboa Blvd., Van Nuys)
PINEAPPLE EXPRESS VENICE (8707 Venice Blvd. Los Angeles)
"This is a huge undertaking by Pineapple Express to have ten operational stores in Los Angeles. Once all ten stores are operational, we believe that would make us the largest retail brand in Southern California," stated Matthew Feinstein, chairman and CEO of Pineapple Express Cannabis Company.
About Pineapple Express Cannabis Company
Pineapple Express Cannabis Company. (the "Company" or "Pineapple Express") is based in Los Angeles, California. The Company's 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 engaged in legal cannabis retail under the brand name of Pineapple Express though its 50% owned asset, Pineapple Consolidated Inc. (pineappleconsolidated.com) which owns and manages retail cannabis ventures under the Pineapple Express name and via www.PineappleExpress.com. Pineapple Consolidated seeks to become the leading portfolio management company in the U.S. cannabis industry. With its headquarters in Los Angeles, California, Pineapple Express is rapidly increasing its footprint throughout the state and looking to scale into underdeveloped markets.
The Company works closely with another public company, Pineapple, Inc. (OTC: PNPL), which procures and leases properties to licensed cannabis operators, provides nationwide hemp-derived CBD sales via online and in-store transactions, and offers cannabis business licensing and consulting services.
pennypauly
1 año hace
Company’s 50% owned asset signs management deal and brands dispensary ‘Pineapple Express Hollywood’
LOS ANGELES, CA, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Pineapple Express Cannabis Company. (OTC: PNXP) (the “Company”), a publicly traded company, today announced that it has commenced management and operations of its flagship dispensary location at the famed corner of Hollywood & Vine on the Hollywood Walk of Fame. The Company confirmed the exact location for Pineapple Express Hollywood as 1708 Vine Street, Hollywood, Ca.
“We are delighted to launch our first store under our Pineapple Express brand at the iconic intersection of Hollywood and Vine street just steps away from Capitol Records," stated Matthew Feinstein, chairman and CEO of Pineapple Express Cannabis Company. “This is the first of 10 stores that our Company’s 50% owned asset, Pineapple Consolidated Inc., has successfully achieved licensing for and is building out in metro Los Angeles. We are excited for our upcoming announcements regarding rolling out our development roadmap and retail footprint throughout Los Angeles.”
About Pineapple Express Cannabis Company
Pineapple Express Cannabis Company. (the “Company” or “Pineapple Express”) is based in Los Angeles, California. The Company’s 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 engaged in legal cannabis retail under the brand name of Pineapple Express though its 50% owned asset, Pineapple Consolidated Inc. (pineappleconsolidated.com) which owns and manages retail cannabis ventures under the Pineapple Express name and via www.PineappleExpress.com. Pineapple Consolidated seeks to become the leading portfolio management company in the U.S. cannabis industry. With its headquarters in Los Angeles, California, Pineapple Express is rapidly increasing its footprint throughout the state and looking to scale into underdeveloped markets.
The Company works closely with another public company, Pineapple, Inc. (OTC: PNPL), which procures and leases properties to licensed cannabis operators, provides nationwide hemp-derived CBD sales via online and in-store transactions, and offers cannabis business licensing and consulting services.
pennypauly
1 año hace
Company seeks to raise $5 million from accredited investors interested in diversifying their investments in the emerging cannabis industry
LOS ANGELES, CA, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Pineapple Express Cannabis Company. (OTC: PNXP) (the “Company”), a publicly traded company, today announced that it is commencing an offering of up to 5 million shares of its common stock (the “Shares”) at $1 per Share for an aggregate offering amount of $5 million. The Shares will be offered to accredited investors pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the "Securities Act"). As general solicitation is permitted under Rule 506(c) offerings, purchasers must be meet verification requirements for validation of their "accredited investor" status.
The Shares have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements, and will comprise restricted securities as that term is defined in Rule 144 of the Securities Act. The Shares may not be offered or sold by the Company in any state in which such offer or sale is prohibited. The resale of the shares by purchasers shall also be governed by Rule 144 which the Company expects would allow the public resale of the shares no earlier than a period of 6 months after purchasing direct from the Company.
The purpose of this offering is to secure funds that will be directly used in the Company's expansion plan of launching 10 fully licensed retail cannabis dispensaries in the metro Los Angeles area and for general corporate purposes.
“We have a tremendous footprint of legal and licensed cannabis retail locations that are already leased and are undergoing interior renovations to commence operations," said Matthew Feinstein, chairman and CEO of Pineapple Express Cannabis Company. “We have received strong support in our financing activities thus far, and we are looking forward to significant growth of the company’s revenues and assets by taking advantage of this fast-growing sector.”
This press release is neither an offer to sell nor the solicitation of an offer to buy the Shares or any other securities, and no offer, solicitation or sale will be made in any jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale is unlawful. Any offers of the Shares will be made only by means of a private offering memorandum or other agreement between the Company and the investors. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
For additional information about Pineapple Express Cannabis Company and to request our 506(c) offering materials, please contact 888-245-5703 or email investors@pineappleconsolidated.com for more information.
Big Brother
2 años hace
Hmm...I see, PVI was generating revenue but PNPL was not.....but PVI was not a subsidiary either, so perhaps that's why, IDK. In this case here, I believe Pineapple Consolidated would be considered a subsidiary of MNAO and they wholly own PNPL Holdings, which contains these revenue generating assets....
Previously, PVI has invested in established cannabis businesses, funded cannabis start-up businesses, managed the aforementioned businesses for a management fee, and in some instances subleased property to these businesses for a profit. However, as of September 1, 2022, PVI shifted its primary focus to being a “non-plant touching” entity through development of cannabis assets and resale of the same for a profit in partnership with its affiliate entities, hemp CBD retail management services for a fee, and leasing and subleasing cannabis retail properties for a profit. PVI no longer operates or partially owns cannabis assets and acts only as a consultant for the purpose of facilitating development of those assets through PNPL Holdings, Inc. PNPL Holdings, Inc. is wholly-owned by Matthew Feinstein and, as such, is a related party to Pineapple, Inc. PVI no longer receives a 10% management fee for these cannabis entities and is now completely a non-plant touching ancillary service provider to the cannabis industry. As of September 30, 2022, PVI carries no ownership of any cannabis assets. However, PVI did own the following cannabis assets as of December 31, 2021 (these portions of ownership were transferred to PNPL Holdings, Inc.):
? Capital Growth Investments, Inc. (“CGI”): 20% as of December 31, 2021 (delivery, cultivation, manufacturing, and distribution)
? Universal Herbal Center, Inc (“UHC”): 20% as of December 31, 2021 (delivery, manufacturing, distribution, and dispensary).
? PNPLXPRESS, Inc. (“PXI”): 10% equity interest as of December 31, 2021 (delivery and dispensary).
? PNPLXPRESS II, Inc (“Northeast LA Dispensary”): 49% equity interest as of December 31, 2021 (delivery and dispensary).
The ownership percentages previously owned by PVI were transferred to PNPL Holdings, Inc. During the nine months ended September 30, 2022, three of the above cannabis assets (CGI, UHC and PXI) generated revenue while PVI held ownership. As noted above, as of September 30, 2022, PVI no longer has any ownership in these entities.
The following represents summarized financial information of PVI as of and for the nine months ended September 30, 2022, and 2021, respectively:
Income statement 2022 2021
Revenue $ 489,145 $ 111,552
Cost of goods sold (756 ) -
Gross margin 488,389 111,552
Operating expenses (2,134,478 ) (1,862,676 )
Gain on dispensary equity sale 4,965,510 -
Net income (loss) $ 3,319,421 $ (1,751,124 )
Balance sheet
Current assets $ 1,437,504 $ 661,236
Non-current assets $ 2,205,536 $ 180,134
Current liabilities $ (1,046,924 ) $ (614,030 )
Non-Current liabilities $ (754,440 ) $ (2,929,520
The Company has recorded an income from equity investment of $1,499,355 during the nine months ended September 30, 2022
Big Brother
2 años hace
Credle has told his story in several interviews, he was more or less brought into Pineapple, to 'right the ship', get them back on track, the company obviously has had a lot of struggles over the years, especially with the suspension in 2016.
He's probably the most highly educated penny stock CEO I've ever seen, 6 degrees, including 4 Masters degrees, he seems to be well connected and well respected, especially in the black community, from what I can tell from my DD. What he lacks in experience, he seems to make up for in pure brain power.....something the vast majority of penny stock CEO's do not have an ounce of....lol.
Its hard to tell exactly what's going on but he seems to have helped turn the company around. We'll know more when filings come out here, they raise $$$ by selling off parts of these 'Pineapple' entities, so they all seem to have these funky ownership percentages, so without filings its not easy to figure out what they have going on exactly.
I think its a high risk/high reward type scenario but a calculated risk that I don't mind and why I buy these kinds of penny stocks.
Big Brother
2 años hace
The problems with running 2 separate SEC reporting public companies, A) the huge expense and B) while its true that if one does well, if can positively effect the other one, same is true on the flip side, right now PNPL is a very low priced security with a CE and is an albatross for MNAO. So MNAO could always have its upside limited by PNPL, even if the CE is removed in the future, as sister companies they are always going to be connected.
However, one thought I had was this, what if PNPL was actually being set up as an RM vehicle..?? We know they are working with newer companies like Nature’s Treatment of Illinois, in helping them start up their businesses.....if one of these companies also wanted to go public, Pineapple could add that to their list of services by acquiring shells.
PNPL is almost like a shell now, most of the assets have been moved out, once the CE is removed, they could take one of these companies they are working with public through it....and it would have its own separate owners, its own separate management teams, etc, etc.....its would still be good for the PNPL shareholders.....just would no longer have any effect on MNAO.
Just a thought.
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