Pineapple Express Cannabis Co (PNXP)

[Big Brother]

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.