LOS ANGELES, March 27, 2018 (GLOBE NEWSWIRE) -- Pineapple Express, Inc. (OTC:PNPL) (the “Company), an innovative company that offers consulting, technology, investments, turn-key property rentals and branding concepts to businesses in the legal cannabis industry, announced today that its Form 10 Registration Statement as filed with the U.S. Securities and Exchange Commission (the “SEC”) has become effective as of March 26, 2018. Following the effective date, the Company will be subject to the reporting requirements of the Exchange Act of 1934, as amended. This means the Company will be begin filing annual reports with the SEC on Form 10-K, quarterly reports on Form 10-Q, periodic reports on Form 8-K and subject itself to additional reporting obligations related to proxies, shareholder actions and stock ownership rules.
The Form 10 filing provides investors detailed and audited information about Pineapple Express’s operations, including an overview of the business strategies, risk factors and financial statements. This additional information will help our investors make a more educated investment decision about the Company. A copy of the Form 10 is available at www.sec.gov under the name of Pineapple Express, Inc. Additionally, the Form 10 can be found on the company’s website at http://pineappleexpress.com/press-releases/pineapple-express-inc-announces-the-filing-of-a-form-10-registration-statement-with-the-sec.
Matthew Feinstein, Chief Executive Officer of the Company, said, “we are very excited to announce that our Form 10 Registration Statement is effective, and we are fully reporting. By taking this important step, we hope to distinguish ourselves in the cannabis industry by prioritizing transparency and accountability. We are also very excited about the billboard campaign we launched this month. The billboards, which were placed in high-traffic areas around Los Angeles, highlight the Company’s canna-business retail opportunities and future product catalog.”
About Pineapple Express, Inc.
The Company is based in Los Angeles, California. Through our operating subsidiary Pineapple Express Consulting, Inc., we provide capital to our canna-business clientele, lease real properties to those canna-businesses, and provide consulting and technology to develop, enhance, or expand existing and newly formed infrastructures. We intend to create a nationally branded chain of cannabis retail stores under the "Pineapple Express" name as soon as federal laws allow, which will be supported by anticipated Company-owned cultivation and processing facilities, and intend to feature products from anticipated Company-owned manufacturers. As long as cannabis remains federally illegal our operations will be limited to consulting, product licensing, leasing to and investing in existing and new canna-businesses, selling industry specific technology, and providing ancillary support services. We believe that our competitive advantages include our wealth of experience, business model, exclusive proprietary technology, and key industry contacts in an industry that is foreign to most. It is our expectation that these factors will set us apart from most of our competitors.
All statements other than statements of historical facts contained in this press release are “forward-looking statements.” These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to identifying, acquiring, securing and developing content, ability to attract and retain users, successfully implementing the Company’s growth strategy, including relating to their technology platforms and applications, management’s relationships with industry stakeholders, changes in economic conditions, competition, and other risks including, but not limited to, those described in the Company’s Registration Statement on Form 10-12G (including but not limited to the discussion under “Risk Factors” therein) filed with the SEC on January 23, 2018 and other filings and submissions with the SEC, which may be viewed at (http://www.sec.gov). These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law.