In This Story
Pineapple Express Cannabis Co Com (PNXP0.00%) has submitted its 10-Q filing for the quarterly period ended July 31, 2024.
The filing includes financial statements for the quarter, showing revenues of $9,872 compared to $0 in the same quarter the previous year. This increase is attributed to management fee revenue.
Operating expenses for the quarter were $5,580, down from $19,247 in the previous year, primarily due to a decrease in legal and audit fees.
The company reported a net income of $4,292 for the quarter, compared to a net loss of $19,247 in the previous year.
Cash used in operating activities was $11,744, while cash provided by financing activities was $11,714.
As of July 31, 2024, Pineapple Express had no cash and an accumulated deficit of $922,898, raising concerns about its ability to continue as a going concern.
The filing details the company's involvement in the cannabis sector through its subsidiary, Ananas Growth Ventures, and its equity method investee, Pineapple Consolidated Inc.
Pineapple Express is engaged in legal cannabis retail and aims to expand its footprint in California and other markets.
The report includes forward-looking statements, subject to risks and uncertainties, as detailed in the company's annual report.
The company does not anticipate any material changes to its business operations in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Pineapple Express Cannabis Co Com quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.