Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Any here buy those 315 shares yesterday?
I am pleased they keeping the two separate
Thanks for bringing it over
News, they just released their first PR for MNAO, sounds like they will be operating (2) separate public companies MNAO and PNPL.
https://www.globenewswire.com/news-release/2023/02/09/2605459/0/en/Minaro-Corp-MNAO-Executes-Share-Exchange-and-Rebranding.html
About Pineapple Express Cannabis Company
Pineapple Express Cannabis Company FKA Minaro Corp. (the “Company” or “Pineapple Express”) is based in Los Angeles, California. The Company’s operating subsidiary, Ananas 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 runs a cannabis delivery service, Pineapple Express, via www.PineappleExpress.com.
Pineapple Consolidated also owns and manages retail cannabis ventures under the Pineapple Express name, and 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. (OTCMKTS: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.
I'll put a bid in as soon as possible after the CE comes off, probably be some folks who have been in a looong time anxious to sell.
If MNAO takes off, which is a pretty good chance given the ss and the fact its a new issue, that would/ or should also benefit PNPL. I'd imagine they would like to see this over $5 and 'Penny Stock Exempt', which should open up some better financing options for them and greatly increase the pool of potential investors.
Nice find. They have been working on this for a while. I had PTZH on my watchlist. I never bought shares in that one. I wish I would have. Now i've see it in the $2.00 -$4.50 range.
Hopefully the Ce comes off sooner than later.
Oh I remember Seedo. I had bought shares in that one . That was a good one. I was surprised when they went out of business lol.
You can follow them on the OTC Markets Corporate Actions page, just scroll down to the 'Caveat Emptor', I check it a couple times a week, I'm generally more interested in 'Tier Changes' though.
https://www.otcmarkets.com/market-activity/corporate-actions
BTW got onboard as mod here, while we don't know what the plan is exactly, I'll put some info in the iBox when I get a chance.
Its possible MNAO may hold the plant touching assets(ie delivery, dispensaries, etc) and PNPL the non-plant touching ones(ie property rentals, cannabis business licensing, consulting etc) but I have no clue, I'm just speculating at this point.
The norm is 4 to 6 years, that is insane!!!
It also seems GLED is the only one who signs off
If you run into any more CE getting removed please post it here
Thanks a ton
Wow interesting, never looked at that one but I like the transparency, how they kept shareholders in the loop throughout the whole laborious process and what it takes to resume trading normally after suspension.
Its not easy, its why only a few companies have ever done in in OTC history. It appears PNPL is at the last hurdle, getting the CE removed. OTCM needs to make this process less time consuming and more straightforward, especially after the regulators clear the new Form 211. 1) They should not have the kind of power to manipulate the trading of a stock, at their own whim, with zero transparency.....and 2) they need all the companies they can get paying their various fees, they are not doing very well since the rule change went into effect. If it was not for international listings, they would be hurting big time.
Thanks will put it on my radar.
Here is another company that was shorted to death by Asher and Kramer, they fought back and took the SEC to court and won. 5.5 years of worth of fighting back.
Billions of shares naked shorted!!!
SEC still has not conceded, so they went over there heads…
SHAREHOLDER’S UPDATE — NOVEMBER 2, 2022
DBMM 02 NOVEMBER 2022 COMPANY UPDATE
Following the recent Shareholder Update by Digital Brand Media & Marketing Group, Inc. (“The Company” and “DBMM”), and its brand, Digital Clarity (“DC”) on October 27, 2022, announcing the successful clearance of Form 211 by FINRA. An update is now available.
The Company has focused on the removal of the CE since the Dismissal on November 12, 2019 by ALJ Carol Fox Foelak. The Dismissal is the Standing Order and the credentialed experts have agreed along the way to today.
As part of moving forward, the requirements to remove the CE have been discussed in minute detail with OTC Markets as the CE icon is solely under their purview.
The Company began the post-FINRA clearance dialogue less than a week ago after receiving “Congratulations “ for the enormous accomplishment of FINRA clearance and a US Market Maker named. There is information as a matter of course required for OTCM documentation. Different agency, same information, different format, but all doable, transparent, and checks each and every box. We are on it.
The material is being gathered in the format required for review and that will be the last step to conclude the process. The Company expects to turn over the material requested to OTCM, Issuer’s Services Division, today or tomorrow.
The first step following the amended 15c2-11 effective September 28, 2021, was to identify and begin to discuss with a sponsoring broker, the labor-intensive gathering of due diligence required. Shareholders surely remember the Updates and the patience required. That wait is over and FINRA clearance under Reg 6472 and 15c2-11 Compliance has occurred for our Pink Current Company.
For clarity and to quash misinformation that is being spewed, is also being documented and observed by third parties. Non-shareholders opinions which have no basis in fact are an exercise in desperation. Repeat: the removal of the Caveat Emptor follows a careful process. No amount of misinformation will change that.
The Company has followed all protocols as set out by the division and is now at the final stage, all final documentation post-FINRA clearing on October 26, 2022, will be submitted shortly. It is information already available, simply in a different format.
Repeat: The removal of the Caveat Emptor sits solely in the purview of OTC Markets, hence the protocol as set out by them and executed by The Company is rigidly followed and has been from the onset of this important project.
Repeat: “On 10/26/2022, FINRA processed a Form 211 relating to the initiation of priced quotations of DBMM, which means that the submitting broker-dealer has demonstrated to FINRA compliance with FINRA Rule 6432 and therefore has met the requirements under that rule to initiate a quotation for DBMM within four days of 10/26/2022. FINRA’s processing of a Form 211 in no way constitutes FINRA’s approval of the security, the issuer, or the issuer’s business and relates solely to the submitting broker-dealer’s obligation to comply with FINRA Rule 6432 and SEA Rule 15c2-11 when quoting a security”.
Patience is essential. The removal of the CE is a priority for the Management and the Company, so finally DBMM can get back to normal trading and normal business. Growth to follow.
DBMM is almost there. A big thank you to all shareholders, supporters, and LTIs. More to follow as soon as received.
DBMM Management
DBMM SHAREHOLDERS UPDATE – DECEMBER 16, 2021
DBMM 16 DECEMBER 2021 COMPANY UPDATE
DBMM SHAREHOLDERS UPDATE – DECEMBER 16, 2021
Following the last Shareholder update of November 23, 2021 and in line with the company’s intent to keep investors and shareholders updated on real news and facts, Digital Brand Media & Marketing Group, Inc. (“The Company” and “DBMM”), the Company is providing another update ahead of the holiday season and year end.
The Company is concluding the enormous, labor-intensive task of submitting the 15c2-11 to the broker who will be guiding it through the FINRA application to resume normal trading. Filing the 10-k almost a month early provided the most recent public information as required by the amended, post-September 28th regulations for the 15c2-11.
On a positive note, for the first time, on December 9, 2021 link “…the Commission … determined at its discretion… to extend by 90 days the period within which the decision in this matter may be issued.” The Company is delighted that the matter is finally scheduled following the briefings completed earlier this year. Everyone is encouraged to read Maranda Fritz’s brief of March 26, 2021 link which reinforces the Company’s compliance through the Corporate Finance review and approval in October, 2019, followed by Judge Foelak’s Dismissal on November 12, 2019. link
Since the Dismissal, the Company has filed three (3) 10-K’s and demonstrated its resilience during a lockdown of our operations in the UK during a protracted pandemic and the delays associated with the SEC Matter.
The Management believes it is fortuitous that the scheduling order dovetails with the Company’s 15c2-11 resumption of normal trading initiatives.
At this point, the Management continues to acknowledge its long-term investors and its shareholders who have been patient with external circumstances from its SEC (re)audit mandate which was the genesis of the delayed filings.
Hundreds of thousands of dollars have been spent on reaudits, litigation and curing those late filings, which could have been focused on growing the business as intended. Instead, the Management has been distracted, while tenaciously directing efforts toward resolution amidst the relentless misinformation by the same individuals who proudly state they are not shareholders, in order to negatively impact the public market.
Now that a schedule has been announced by the Commission, the Management will be reviewing its options to effectively expedite the process to bring the matter to a Final Order of the Dismissal. Due process can be exceedingly time consuming and we are proud of the Company’s efforts to return to normal business and the implementation of a post-pandemic business plan without distractions.
Digital Clarity’s business development efforts are reinforcing new client’s transformation and strategic redirection in the new economy. Our long-term investors will be instrumental in growing the business and retrenching the erosion of revenues as described in the 10-K’s MD&A.
The Management assures its investors and shareholders that positive initiatives are underway and we will keep you posted.
Best wishes for the holiday season to all and we look forward to a safe and prosperous New Year.
DBMM Management
http://www.dbmmgroup.com/news-information/page/2/ you can go here for all the updates over the years.
They just released this news 2 days ago. Only a very small handful of companies in OTC history have come back like this after suspension, the most recent being PTZH.
https://www.globenewswire.com/news-release/2023/02/07/2602957/0/en/Pineapple-Inc-PNPL-Demonstrates-Compliance-with-FINRA-211-Process-to-Initiate-Public-Quotations.html
This was the PTZH timeline:
April 2021- Suspended due to 'potentially manipulative transactions in the Company’s Common Stock'
August 2021- The SEC confirmed to the Company’s counsel that it had concluded its investigation of the Company pursuant to the Order, and that the SEC did not intend to recommend any enforcement action.
September 2021- Company and its counsel begin working with a market maker to file a Form 211( Glendale Securities)
Sept/Oct 2021- Company had a Market Maker file a Form 211 on the Company’s behalf so that the Company’s Common Stock may resume its quotation via the OTC Pink Tier.
December 2021- The new Form 211 was cleared by FINRA
April 20, 2022- Resumed normal quotation
October 11, 2022- CE removed
Remember Seedo, they made that cannabis grow box that looked like a mini-fridge and went public several years ago? They partnered with Snoop and that got some pretty good volume and pps increase.......until they went out business of course...lol.
At this point, I'm just waiting for FINRA to process the name change. If it was submitted on Dec 30th, then we should get it soon, as FINRA has been taking about 5 or 6 weeks to processes corporate actions as of late. I don't think its necessarily a guarantee its going to happen, so without that we could be screwed. Though they could continue as Minaro Corp or sell the shell I suppose.
If and when the name change happens, then hopefully we'll get some kind of update on what the current direction is. I don't want to see a PNPL merger, I just got a bad feeling that could be a complete disaster.....I'd stay far away from PNPL, that CE could follow here post merger IMO.
Yeah, Working with Snoop should bring attention to the stock. He is popular in that crowd.
I saw Cheech and Chong in the You Tube video also.
https://pineappleinc.com/behind-the-exclusive-pineapple-express-snoop-dogg-partnership-trichomes-com/
Looks like they are working with Snoop, that should bring in some volume when folks find out I would think.
Yeah, being illiquid for a long period of time, then all the sudden getting a ton of volume out of the blue, with no rational explanation, has always been a good way to get suspended pretty quickly.
Seems like trying to bring in a more consistent level of volume, organically, even if it isn't huge $$$'s is maybe a better approach this time around. Then they can bide their time for the big boards...and real volume... which was supposedly the original plan with Pineapple Express 1.0.
There are going to be some challenges here for sure, even though their previous tickers went on huge runs, they were ultimately a big mess in the end, cannabis stocks are not what they were back in 2015/16 and the OTC itself is not what it use to be either, investors are gone, volume is WAY down in general...its ugly.
Nice promo they had going on. I used to love the older promo's. It was all about timing and not being too greedy lol. I would think promo's now would get noticed quick.
Hi sorry for the late response. I've been away from computer for a while. It sure looks like they moved assets. I like the fact they updated the OTC Markets Page. Good catch.
One of these days I might make a trip to the main headquarters and check it out.
I see they updated the profile at OTCM, sounds like we'll be more focused on the Pineapple Express dispensaries themselves, unlike PNPL which was more about the other assets....though wont surprise me if we end up with many of the old PNPL assets, other than the “Pineapple Park” cannabis cultivation complex as I believe that was sold.
BUSINESS DESCRIPTION
Minaro Corp. was incorporated in the State of Nevada on March 14, 2017. The Company is located in Los Angeles and is engaged in legal cannabis retail under the brand name of Pineapple Express though its 50% owned asset, Pineapple Consolidated Inc.
Looks like Feinstein essentially just bought back the 20M shares of PNPL were issued in this material agreement you posted for $50K. Hard to say what's going on there, perhaps winding things down...idk...?? Obviously has something to do with MNAO and the movement of assets here IMO.
https://www.otcmarkets.com/filing/html?id=16349028&guid=zr2-kpLgC76Vvhh
This was the heyday of Pineapple Express (1.0), from September 2015 to April 2016. No other trading time period really matters much as the name change to Pineapple Express was around September 21st 2015 and the suspension was April 28th 2016, so anything before that was a different company and anything after that had a CE on it and could not really be traded much.
During this time period a lot of news and shareholder updates were released. So for about the first 4 months the stock was quite illiquid, trading in the $1 - $2 range, very minimal volume. Then in Jan '16 you see volume start to pick up and climbs into the $3 -$11 dollar range and is pretty stable for about 3 months.....IMO this was probably the beginning of some sort of awareness generation or promotion but to me there are different types of 'promos'....there are awareness campaigns and there are p&ds, the chart does not look like a p&d to me at this point.
In late March/early April, there is an explosion in volume and pps, a couple of the days are over $1M in dollar volume, the day it hits $42+ is $2M+ dollar volume day, this is more your typical looking promo or possibly some social media pumpers ran it. I'd imagine a lot of people on social media were pumping the Medbox run to $200+ so that could have caused the spike as well.
On April 3rd it gets a CE(after it hits $1 Billion dollar MC) and there is a big pps correction back down to $12 or so, then stabilizes for a couple more weeks around $15 - $20 until the suspension on April 28th 2016 then drops off hard back down to $1 and below.
Perhaps rather than a merger, assets have been shifted around and what use to be in PNPL will end up in MNAO...?? Its confusing but that's what it sounds like to me in the PNPL filings, as PNPL Holdings, Inc, is a wholly owned subsidiary of Pineapple Consolidated Inc, which MNAO just acquired 50% of.
So the old PNPL assets, which came from their 45% ownership in PVI are now owned by PNPL Holdings Inc/ Pineapple Consolidated Inc which is dba as Pineapple Express Cannabis Co(MNAO).
In November 2021, PNPL Holdings Inc., was created for the sole purpose of holding direct equity in the Los Angeles cannabis businesses. The City of Los Angeles passed a provision stating that management companies cannot directly hold equity in the operations they manage. As such, PNPL Holdings, Inc. was set up as an affiliate of PVI that is not owned by PVI for PVI’s equity in the operations of dispensaries in the following California locations: Hollywood and Vine, West Los Angeles, South Los Angeles, Northeast Los Angeles, and San Pedro. CGI and UHC remain unaffected since these dispensaries are not in the City of Los Angeles.
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.
I have to agree with your assessment, let’s keep MNAO separate, maybe they have another venture moving in.
I live in so cal a lot of the cannabis store fronts are not doing well, gray market is very much alive here, some stores are getting eaten up by the larger ones.
More I think about it, might not be a good idea to merge with PNPL. While it would eliminate the confusion of having two public 'Pineapple Express' companies, it does not really bring anything to MNAO other than the shareholders (ie dilution) as it looks like the valuable assets have either been sold and/or moved into the holding company.
So you would really just be bringing in baggage, if the merger was even allowed by the regulators with the CE on PNPL anyway. Also, connecting the two companies, could result in OTCM adding a CE to MNAO, so why risk it. Would suck for the PNPL shareholders but that's the way it goes sometimes, I've been there in a similar situation. I would just file a Form 15 in PNPL and be done with it, safer they way, as the CE does not look like its coming off.
On January 2, 2023, Pineapple, Inc. entered into an agreement to sell its 45.17% ownership of Pineapple Ventures, Inc. (“PVI”) to Jaime Ortega, in exchange for the forgiveness of all indebtedness to both PVI and Neu-Ventures, Inc. (“NVI”), entities that are both 100% owned by Ortega. Adjustments will be made accordingly in subsequent periods’ financial statements to reflect the sale.
They put a lot of time and effort into getting PNPL trading again, most companies never even try, just disappear, so a merger could be a definite possibility. While as a MNAO shareholder I'd rather not see that additional dilution, I could also understand if they wanted to do right by the shareholders there, after all these years of waiting and give them a chance at an exit someday. Just as long as its not a 1:1 exchange, nothing that added more than about 15M or so tops to the o/s.
Does not look like many shares have traded in the last few years, since Jan 1st, 2018, there has only been 4 days that have traded over 10K shares, with 15K being the highest.
I know of two companies that were up to date on their fillings and constant communication with OTC and the CE remanded on, both finally gave up, so much power with zero repercussions!!
It’s positive to see they have the liquidity to buy this shell, this gives me a better felling moving forward, plus it seems they want to be publicly traded, my hope is profitability will be the reason
Let’s just merge the two together which will speed things up.
Looking at the PNPL filing, apparently, the SEC found no wrongdoing and did not recommend any enforcement action after the suspension in 2016.....so they were able to get a MM to file a Form 211, had it cleared by FINRA, got off the Greys and resumed normal quotation......BUT.....for whatever reason, still could not get OTCM to remove the CE.
Of course OTCM can hold companies hostage with the CE, at their own discretion and nothing can be done about it......they should not have that kind of power but that's the way it is now since the brokers wont let you trade anything with a CE. It does not seem like it was lack of effort on the Pineapple's part though......so this may have been their only option....a better option even, as now they got a nice clean, new issue with a great ss and without any old baggage.
I still think there is going to be a lot of confusion with the two tickers with similar names but I feel more positive about this now, IMO its still high risk/high reward though....but they should be able to mitigate risk as long as everything is done the right way, as I believe the regulators will be watching closely.
Company Background
Pineapple shares of common stock are still quoted on the OTC Pink Market under the symbol “PNPL”. As of the date of this Annual Report, OTC Markets has designated the Company’s trading symbol as “Caveat Emptor” by placing a skull and crossbones icon next to the symbol. This designation occurred when the Company was issued an Order of Suspension of Trading from the U.S. Securities and Exchange Commission (the “SEC”) on April 28th, 2016, because of “recent, unusual and unexplained market activity in the Company’s stock that raises concerns about the adequacy of publicly-available information regarding the Company”. The Company was released from suspension two weeks later. The Company was not charged with any wrong-doing and believes the unusual spike in stock activity was related to an enormous amount of press received by the Company because a famous cultural icon invested in the Company stock. The Company was not fully reporting with the SEC yet when this occurred. The Company intends on becoming fully reporting with the SEC. The Company then intends to have a market maker quote its shares of common stock on the OTCQB or another over-the-counter trading platform, thereby moving from the current OTC Grey platform.
The Company regained current status with its filing obligations in the fourth quarter of 2021, and a licensed broker filed a Form 15c2-11 application in order to remove the caveat emptor symbol and resume quotations on the OTC marketplace.
They should have called it Pineapple Consolidated, Inc, FINRA would not approve the name change from Pineapple Express, Inc to Pineapple Inc in PNPL.....so now you have 2 tickers with essentially the same name, which is going to royally confuse people.
You need a flow chart to understand all these various 'Pineapple' entities, how they are all connected.....lol. MNAO has 50% of Pineapple Consolidated, Inc but what assets or subsidiaries and what % does that consist of...??
Whatever it is needs to be completely separate from Pineapple Express, Inc, or the regulators are just going to see that as them trying to circumvent the suspension IMO. If FINRA approves this name change, then I think we'll be in better shape.... but they will be under a microscope, I can pretty much guarantee that.
I haven't really looked into all these entities yet. I plan on doing some reading. I remember Medbox. It was a huge runner. I would imagine the SEC is watching this one closely due his past history. He likes to do promo's lol. I sure hope it works out well. I sent you a PM also.
Have you been able to make any sense out of all these different 'Pineapple' entities and how the ownership percentages work out...??
I see the Pineapple Express(1.0) PNPL, was trading at around $1.50 in December of 2015, shot up to $20 by April and got suspended due to “unusual and unexplained market activity in the company’s stock that raises concerns about the adequacy of publicly-available information regarding the company.”
I suspect the SEC was likely watching it, as one of the original co-founders of 'Pineapple Express' was Vincent Mehdizadeh of Medbox. I remember hearing about Medbox, it was one of the first big cannabis runners back in the day, went from like $1 - $200+, started the whole cannabis stock craze in the early 2010's.
I guess MNAO is essentially Pineapple Express 2.0. Honestly, I'm not sure how that's going to fly, we'll see if FINRA approves the name change, if so then that's a good sign. Could be on a short leash with the SEC, I don't know but I hope it works out.
Now we understand why all of that bizzare trading took place in the beginning. I guess they gave up on the other ticker? They paid a lot of money for this shell. $540k
They did have a material agreement.
https://www.otcmarkets.com/filing/html?id=16294465&guid=yjs-knyCPTZ7dth
I had a lot of luck with another pot delivery company a few years ago, Driven Deliveries, Inc, so I'll let this one play out and see where it goes, especially given the price they paid for this....
However with that said, I don't really understand what's going on with the other public 'Pineapple Express', maybe they gave up on that one, looks like its had CE for years. Maybe they thought they could clean it up and get it removed, gave up and bought a clean shell MNAO to use.....but I have no idea, I've barely looked into it thus far.
I'm just glad its not Chinese, they tend to buy most of these new issue, reverse merger vehicles like this.
Yah 540k is a nice amount for a low SS clean shell. Not very pleased with a pot company rolling in here. Even in Hollywood… just saying
Not sure why they need two trading entities
Pineapple Inc. Purchases 50% Equity Stake in Palm Springs, CA Dispensary Branded Pineapple Express
August 06, 2021 16:56 ET | Source: Pineapple, Inc.
...
Company Brands the Dispensary as ‘Pineapple Express’ which will complement other Pineapple Express locations opening soon
LOS ANGELES, CA, Aug. 06, 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, announced today that it purchased a 50% equity interest in Capital Growth Investments, Inc. and branded as Pineapple Express (“CGI”), a Palm Springs licensed dispensary, delivery, and manufacturing facility spanning 6000 sq ft in downtown Palm Springs, CA. The exact address of the new dispensary is 695 S. Williams Rd. Palm Springs, CA 92264.
The deal was executed between the Company and its minority owned portfolio company, Pineapple Ventures, Inc. (“PVI”), whereas PVI sold 50% of CGI to the Company in exchange for a million dollar promissory note that the Company shall pay to PVI in installments of $100,000 within 5 days of execution, and the balance of $900,000 within 60 days of execution. The Company will acquire a 5% and a 45% stake in CGI corresponding to the timing of the respective payments. PVI retained a 30% equity stake in CGI and PVI will continue to manage CGI’s operations in perpetuity, under the Pineapple Express brand, in exchange for a management fee on all retail sales. “We’re excited to take this next step in scaling our operational footprint with Pineapple Inc.,” said Marco Rullo, CEO of PVI. “To date we have invested over $2 million developing this Dispensary asset, including over $1.4 million in construction costs paid to get it built from the ground up.”
Pineapple's CEO Shawn Credle said, “This is just the first of many big announcements and ‘Grand Openings’ that we anticipate making for PVI and Pineapple in concert with one another. We are excited for what’s to come and have been working hard at it.” Mr. Credle added, “Besides our Palm Springs Dispensary set to launch shortly, we also have our location at Pico and Robertson near Beverly Hills, CA that we will be launching to the public, which is anchored by our cannabis delivery service at www.PineappleExpress.com and will service deliveries to the surrounding areas. Most notably, we have our PVI managed and owned dispensary at the iconic/historic intersection at Hollywood and Vine expected to launch in early September 2021. We will be updating shareholders with in-depth press releases on each of these breakthrough events for the Company and wanted to highlight now what's to come for us, and what we have been working so hard on over the last 2 years at Pineapple. We believe that our future is bright.”
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 45.18% 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, 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.
No GNS, been busy with another ticker.
I'll have to research this one over the weekend, no time today. I do see they paid a tremendous amount of $$$s for MNAO, $540K, that's one of the higher prices I've ever seen paid for a reverse merger vehicle.
I'm not sure how Pineapple Consolidated, Inc, is connected to some of these various other 'Pineapple' companies, Pineapple Express, Pineapple Inc, Pineapple Ventures, etc. looks like one is already public, not 100% sure what's going on there exactly yet.
https://www.pineappleconsolidated.com/
Did you pick up any GNS?
Item 1.01 Entry into a Material Definitive Agreement
On December 18, 2022, Minaro Corp., a Nevada corporation (the “Company”), Yulia Lazaridou, the majority shareholder of the Company (“Lazaridou”), Pineapple Consolidated, Inc., a California corporation (“PCI”) and the shareholders of PCI (“PCI Shareholders”), entered into a Share Exchange Agreement (the “Exchange Agreement”). Pursuant to the Exchange Agreement, the PCI Shareholders exchanged (the “Exchange Transaction”) 50,000 outstanding shares of common stock of PCI, representing fifty percent (50%) of the outstanding shares of PCI common stock, for eighteen million (18,000,000) newly issued shares of Minaro common stock.
In addition, on December 18, 2022, in a transaction related to and a condition to the Exchange Transaction, Lazaridou and the Company entered into that certain Resignation, Separation and Release Agreement (the “Resignation Agreement”), pursuant to which (a) the Company redeemed 2,800,000 shares of Company common stock owned by Lazaridou (the “Lazaridou Shares’) in exchange for a payment by the Company of $540,904 and (b) Lazaridou, as of December 21, 2022, resigned as the sole director, officer and employee of the Company.
In order to fund the payment for the Lazaridou Shares, contemporaneous with the Exchange, on December 18, 2022, PCI loaned $540,904 to the Company. The loan (the “PCI Loan”) matures on June 30, 2023 and earns interest at an annual rate of 1%.
In addition, on December 18, 2022, Lazaridou, as sole director and majority shareholder, executed a written consent in lieu of a meeting providing that (i) Matthew Feinstein be elected as the sole director of the Company as well as Chief Executive Officer, President, Secretary, Chairman of the Board and Interim Chief Financial Officer, (ii) accepted the resignation of Lazaridou and (iii) approved the Exchange Agreement and Resignation Agreement. As a result of these transactions, the PCI Shareholders own a majority of the shares of Minaro common stock, and the Company owns fifty percent (50%) of the PCI common stock.
On January 5, 2023, the Company filed Restated Articles of Incorporation with the State of Nevada following approval of the sole director and majority shareholder (“Restated Articles”). The Restated Articles (i) changed the name of the Company to Pineapple Express Cannabis Company, (ii) added an additional authorized class of capital stock, namely ten million (10,000,000) shares of Preferred Stock, in addition to the previously authorized seventy-five million (75,000,000) shares of Common Stock. As a result, the name of the Company now has been changed to Pineapple Express Cannabis Company.
On December 30, 2022 the Company applied to the Financial Industry Regulatory Authority (“FINRA”) for approval with respect to the change of the Company’s name in the Restated Articles. The Company separately applied to FINRA to change the Company’s stock ticker trading symbol. When that application is granted, the Company intends to announce the symbol change.
Item 2.01 Completion of Acquisition or Disposition of Assets
On December 18, 2022, the Company, Lazaridou, PCI and the PCI Shareholders entered into the Share Exchange Agreement. Pursuant to the Exchange Agreement, the PCI Shareholders exchanged (the “Exchange Transaction”) 50,000 outstanding shares of common stock of PCI, representing fifty percent (50%) of the outstanding shares of PCI common stock, for eighteen million (18,000,000) newly issued shares of Minaro common stock.
Item 3.02 Unregistered Sales of Equity Securities
Pursuant to the Exchange Agreement, the PCI Shareholders exchanged 50,000 outstanding shares of common stock of PCI, representing fifty percent (50%) of the outstanding shares of PCI common stock, for eighteen million (18,000,000) newly issued shares of Minaro common stock.
Pursuant to the Resignation Agreement, (a) the Company redeemed the Lazaridou Shares in exchange for a payment by the Company of $540,904 and (b) Lazaridou, as of December 21, 2022, resigned as the sole director, officer and employee of the Company.
Item 5.01 Changes in Control of Registrant
As a result of the transactions contemplated by the Exchange Agreement and the Resignation Agreement, (a) Lazaridou resigned as sole officer, director and employee of the Company and the Company redeemed the Lazaridou Shares following the PCI Loan, (b) Matthew Feinstein was elected the sole director and officer of the Company and (c) Matthew Feinstein received fifteen million shares of Company common stock as part of the Exchange Transaction, as a result of which Mr. Feinstein owns approximately 81.2% of Company common stock.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As a result of the transactions contemplated by the Exchange Agreement and the Resignation Agreement, (a) Lazaridou resigned as sole officer, director and employee of the Company and (b) Matthew Feinstein was elected the sole director and officer of the Company. Lazaridou’s resignation was not the result of any disagreement with the Company. Mr. Feinstein has not entered into any arrangements for compensation from the Company either in his capacity as a director or officer of the Company.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
On January 5, 2023, the Company filed the Restated Articles. The Restated Articles (i) changed the name of the Company to Pineapple Express Cannabis Company, (ii) added an additional authorized class of capital stock, namely ten million (10,000,000) shares of Preferred Stock, in addition to the previously authorized seventy-five million (75,000,000) shares of Common Stock. As a result, the name of the Company now has been changed to Pineapple Express Cannabis Company.
On December 30, 2022, the Company applied to FINRA for approval with respect to the change of the Company’s name in the Restated Articles. The Company separately applied to FINRA to change the Company’s stock ticker trading symbol. When that application is granted, the Company intends to announce the symbol change.
Item 5.07 Submission of Matters to a Vote of Security Holders
On December 18, 2022, Lazaridou, as sole director and majority shareholder, executed a written consent in lieu of a meeting providing that (i) Matthew Feinstein be elected as the sole director of the Company as well as Chief Executive Officer, President, Secretary, Chairman of the Board and Interim Chief Financial Officer, (ii) accepted the resignation of Lazaridou and (iii) approved the Exchange Agreement and Resignation Agreement.
On January 3, 2023, Mr. Feinstein, as sole director and majority shareholder, executed a written consent in lieu of a meeting approving the filing of the Restated Articles. The Restated Articles (i) changed the name of the Company to Pineapple Express Cannabis Company, (ii) added an additional authorized class of capital stock, namely ten million (10,000,000) shares of Preferred Stock, in addition to the previously authorized seventy-five million (75,000,000) shares of Common Stock. As a result, the name of the Company now has been changed to Pineapple Express Cannabis Company.
One thought I had was that the 16300 share trade posted out of sequence and was actually the first trade @ $1.00.....and all trades afterwards, $1.10+ have come out of that.
So it could have looked like this and if insiders grabbed the 5K and 6K @ $1.10, then we may only be actually trading 5,300 shares between us, or around that.
Its hard to say but bottom-line is there is not much available to trade, so if the merger or change of control is even remotely interesting we should be in pretty good shape.
07/21/2022--1.10-- 459
07/21/2022--1.10-- 6000
07/21/2022--1.10-- 5000
07/21/2022--1.10-- 500
07/21/2022--1.10-- 500
07/21/2022--1.10-- 900
07/21/2022--1.10-- 500
07/21/2022--1.10-- 400
07/21/2022--1.10-- 1200
07/21/2022-- 1.10-- 500
07/21/2022--1.10-- 700
07/21/2022--1.00-- 16300
There was exact share swapping going on
07/21/2022--1.10-- 459
07/21/2022--1.10-- 6000
07/21/2022--1.10-- 5000
07/21/2022--1.10-- 500
07/21/2022--1.10-- 500
07/21/2022--1.10-- 900
07/21/2022--1.10-- 500
07/21/2022--1.10-- 400
07/21/2022--1.10-- 1200
07/21/2022-- 1.10-- 500
07/21/2022--1.10-- 700
Total 16,200 then the next trade was 16,300
07/21/2022--1.00-- 16300
Yeah, that sounds about right.
These were likely insider trades, you rarely ever see any bigger hits like that on the first day of trading, especially obscure tickers like this. Whats odd is that those 3 trades, were actually more than what was held at DTC, I was not sure what to make of that when I saw it.
07/21/2022--1.00-- 16300
07/21/2022--1.10-- 6000
07/21/2022--1.10-- 5000
A total of 37,359 traded
16,659 traded at 1.00
16,000 traded at 1.10
4,700 traded at 1.25 to 3.00
Perfect thanks!
It started trading on July 21, 2022, so this would be the entire historical trading record, including the big buys on the first day.
01/17/2023--3.00-- 100
01/17/2023--3.00-- 100
01/17/2023--3.00-- 100
01/17/2023--3.00-- 200
01/17/2023-- 3.00-- 200
01/17/2023--3.00-- 100
01/17/2023--3.00-- 100
01/17/2023--2.99-- 1000
01/17/2023-- 2.25--100
01/17/2023-- 2.20--100
01/17/2023-- 2.20--100
01/17/2023--2.20-- 159
01/13/2023-- 2.00-- 100
01/13/2023-- 2.00-- 100
01/10/2023--1.25-- 700
01/10/2023--1.29-- 200
01/05/2023--1.50-- 1000
11/22/2022--1.50-- 100
07/21/2022--1.00-- 16300
07/21/2022--1.10-- 459
07/21/2022--1.10-- 6000
07/21/2022--1.10-- 5000
07/21/2022--1.10-- 500
07/21/2022--1.10-- 500
07/21/2022--1.10-- 900
07/21/2022--1.10-- 500
07/21/2022--1.10-- 400
07/21/2022--1.10-- 1200
07/21/2022-- 1.10-- 500
07/21/2022--1.10-- 700
I’m trying to calculate if we own the float yet, on the historical trades I can only go back to July 22 2022.
Do you remember the size of those trades?
If they were all bought around a dollar then we are looking at approximately 30,500 shares traded
OT. Right on chief... im going to check it out. Thx for the heads up.
All the best!
If it was a material event, then we should hear something pretty soon, this week or next. Debt settlement can sometimes take awhile, however, it is typically in conjunction with or preceding a change of control, as the new owners get a higher share ownership % and no debt.
No clue what's happening but hopefully its something interesting.
Hi,
How have you been? Nice catch on the share issue. I noticed that to. I saw the increase and figured something is coming. I bet we see an 8-K or Form 3 or 4 soon. They will have to explain the share increase. Looks like the float is still the same. The amount held at DTC is the same.
Hopefully 2023 is a better year for us all. I tried calling the transfer agent. They would not give me any info lol.
Nice buys and volume..
TY
Yeah, picked some up last Summer when I saw someone grab $16K dollars worth on the first day it started trading, which was highly unusual. There were a couple trades as well that day, $5K and $6K, then it did not trade much more after that until recently.
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
106
|
Created
|
07/21/22
|
Type
|
Free
|
Moderators |
Pineapple Express Cannabis Company FKA Minaro Corp. (the “Company” or “Pineapple Express”) is based in Los Angeles, California. The Company’s operating subsidiary, Ananas 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 runs a cannabis delivery service, Pineapple Express, via www.PineappleExpress.com.
Pineapple Consolidated also owns and manages retail cannabis ventures under the Pineapple Express name, and 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. (OTCMKTS: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.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |