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pineapple express inc (PNPL) Details

Pineapple Express, Inc., through its subsidiaries, provides consulting, technology, investments, turn-key property rentals, and branding concepts to businesses in the legal cannabis industry. It provides capital to its canna-business clients; leases real properties to these canna-businesses; and provides consulting and technologies to develop, enhance, or expand existing and newly formed infrastructures. The company also operates a branded clothing line and own the rights to sell apparel, such as T-shirts, hats, beanies, pants, shorts, baseball jerseys, jackets, sweatshirts, polo shirts, sweat pants, and other attire displaying the THC trademarked name and logo; and a clothing distribution facility, as well as operates a Website, THC.com. In addition, it intends to create a branded chain of cannabis retail stores under the ‘Pineapple Express’ name. The company was formerly known as Globestar Industries and changed its name to Pineapple Express, Inc. in September 2015. Pineapple Express, Inc. was incorporated in 1983 and is based in Los Angeles, California.

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Executives, Board Directors

pineapple express inc
Pineapple Express To Seek Acquisitions

Pineapple Express, Inc. (OTCPK:PNPL) will look for acquisitions. Shawn Credle, Chief Executive Officer, said “we are currently engaging in dialogue with viable non-compliant delivery services that were not successful in attaining licensing as we were. Being opportunistic, we are looking to actively acquire such assets. We are gaining traction in this strategy which will allow us to expand even faster.”

Pineapple Express, Inc. Announces Resignation of RBSM LLP as Independent Registered Public Accounting Firm

On March 13, 2019, Pineapple Express, Inc. was informed by its independent registered public accounting firm, RBSM LLP, that the client auditor relationship between the company and RBSM has ceased. As a result, on the effective date, RBSM resigned as the company’s independent registered public accounting firm.

Pineapple Express, Inc. Appoints Shawn Credle and Joshua Eisenberg as the New Executive Team

Pineapple Express, Inc. announced that it has signed a non-binding letter of intent to enter into a merger with Pineapple Ventures, Inc. ("PVI"), which holds equity in multiple California-based cannabis delivery, manufacturing, cultivation, and distribution licenses. As part of the proposed merger, CEO and COO of PVI, Shawn Credle and Joshua Eisenberg, respectively, were recently appointed as the new executive team of the company, and shall currently serve parallel roles in both entities.

 

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Valuation PNPL Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 52.7x
Price/Book NM Not Meaningful
Price/Cash Flow NM Not Meaningful
TEV/Sales 46.9x
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