Thu, Jun 26, 2:47 PM (17 days ago)
**Summary of Pineapple Express Cannabis Company (PEXP) Q1 2025 Financial Report (Amendment No. 1)** **Financial Health and Performance:** - **Revenue:** $0 for Q1 2025 and Q1 2024. - **Net Loss:** $659,293 for Q1 2025, compared to $3,616 in Q1 2024. - **Operating Expenses:** $184,594 for Q1 2025, including management fees ($112,500), stock for services ($3,001), professional fees ($68,249), general and administrative expenses ($544), and rent ($300). - **Cash Flow:** No cash or cash equivalents as of April 30, 2025. The company has relied on capital from public and private offerings of its securities. - **Liabilities:** Total liabilities of $8,396,980 as of April 30, 2025, including accounts payable, accrued expenses, accrued compensation, accrued interest, convertible note payable, derivative liability, and warrant liability. - **Stockholders' Deficit:** $8,206,980 as of April 30, 2025, with 24,834,550 shares of common stock issued and outstanding. **Key Trends and Uncertainties:** - The company has not generated revenues and has relied on capital from securities offerings. - The company has accumulated losses totaling $1,332,939 as of April 30, 2025. - The company has a working capital deficit of $8,396,980 due to results of operations. - The company has a material weakness in internal control over financial reporting. **Future Operations and Impact:** - The company will require additional funding for continuing the development and marketing of products. - The company's management believes that current trends toward lower capital investment in start-up companies pose a significant challenge. - The company may need to significantly reduce, reorganize, discontinue, or shut down its operations if it cannot generate adequate funds from operations or raise sufficient additional funds. **Ticker:** PEXP **Note:** This summary is based on the provided text and does not include any external analysis or interpretation. The company's financial health and performance should be evaluated in the context of its industry and market conditions.