Fri, May 16, 10:01 AM (58 days ago)
**Pineapple Express Cannabis Company (PNXP)** reported its financial performance for the fiscal year ended January 31, 2025. The company generated $16,168 in revenue, but recognized $14,204 in bad debt expense, resulting in a net loss of $31,153. Operating expenses totaled $31,153, including general and administrative costs, bad debt expense, and a loss on the disposal of the company's interest in Pineapple Consolidated, Inc. (PCI). The company had a working capital deficit of $2,079 and an accumulated deficit of $673,646, with no cash balance as of January 31, 2025. Pineapple Express Cannabis Company is a Nevada corporation focused on strategic investments, advisory services, and direct operations in the legal cannabis and consumer product industries. The company's strategic overview includes identifying and developing early-stage companies, providing capital and operational guidance. The company's future outlook involves acquiring and integrating GROOVY Company, Inc., a blockchain-based Platform as a Service (PaaS) tailored for the cannabis industry, to enhance transparency, authenticity, and safety within the cannabis supply chain. The company faces risk factors such as regulatory uncertainties, competitive pressures, and the volatile nature of the cannabis market. The company's financial condition includes limited cash resources, an accumulated deficit, and recurring losses from operations. The company's market position changes include the divestment of its interest in PCI and the acquisition of a majority interest in GROOVY Company, Inc. The company's stock is traded on the OTC Pink Market, and there is no active public market for the company's common stock. The company does not intend to pay dividends in the foreseeable future.