In This Story
Pineapple Express Cannabis Co Com (PNXP0.00%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing revenues of $4,332 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, compared to $19,247 in the previous year. The decrease was primarily due to a reduction in legal and audit fees.
The company reported a net loss of $1,248 for the quarter, compared to a net loss of $2,115 in the previous year.
As of October 31, 2024, Pineapple Express Cannabis Co Com had cash of $1,043 and an accumulated deficit of $919,554.
The company continues to finance its operations through the issuance of debt and equity and anticipates obtaining additional financing to fund future operations.
Pineapple Express Cannabis Co Com's subsidiary, Ananas Growth Ventures, serves as an incubator for early-stage cannabis ventures, while its equity method investee, Pineapple Consolidated Inc., manages retail cannabis ventures.
The company has executed management contracts for revenue sharing with eight entities in which it holds an equity interest.
The filing notes that Pineapple Express Cannabis Co Com faces challenges related to its financial viability and is dependent on additional investment capital to fund operations.
The company has not identified any material subsequent events to disclose since the end of the reporting period.
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 January 21, 2025. To report an error, please email earnings@qz.com.