LOS ANGELES, May 2, 2017 /PRNewswire/ -- PINEAPPLE EXPRESS, INC. (OTC Grey: PNPL) (the "Company"), a publicly traded company that offers consulting, technology, investments, turn-key property rentals and branding concepts to businesses in the legal cannabis industry, updated its shareholders today with news as to recent progress as well as its short-term plans for the Company.
Company Management has confirmed the following recent developments:
- The Company's auditing firm, RBSM, has been engaged to provide 2016 audits in preparation for filing a registration statement with the SEC in June 2017, which Company executives believe would elevate the Company's status to a more visible marketplace for its publicly traded shares.
- The Company has signed two non-binding licensing and royalty agreements concerning the THC trademark and use of the THC.com domain. Definitive agreements expected this month on both deals.
- The Company has leased approximately 34,000 SF of warehouse space to its commercial cultivation clients & tenants in Southern California. The Company expects to lease its remaining 16,000 SF by month's end to new and existing clientele.
- The Company has received a projected patent number and issue date of May 9, 2017 from the USPTO for its proprietary Top-Shelf SDS (Safe Display System) for use in legally permitted cannabis dispensaries across the nation and internationally, where permitted by law.
- The Company has signed a software development agreement with Leaf Logix, a well-known and reliable software solutions provider to the legal cannabis industry, to interface directly with its Top-Shelf SDS hardware component to provide extensive Point-of-Sale solutions to the Company's clientele. Leaf Logix has over 100 canna-business customers spanning 12 states nationwide. They offer custom compliance modules in cultivation, processing, and dispensary business activities. Pineapple Express will be utilizing the Top-Shelf SDS in conjunction with the Leaf Logix software platform in every geographic area the Company focuses on in the future.
- The Company is in the process of securing a royalty and branding deal with a Los Angeles, CA registered and lawfully permitted dispensary to turn-key the first Pineapple Express branded retail location.
- The Company is in the midst of negotiating a consulting and royalty contract for a new client in Ohio to prepare and file three separate applications for cultivation, processing, and dispensary activities. The Company anticipates executing these contracts with the clients by month's end.
Matthew Feinstein, CEO and Chairman stated, "We are operating at an impressive level right now and are focused on the tasks at hand. The next few months will be exciting for the shareholders of this company as we continue to perform and exceed expectations."
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 will 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.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business, including that we have a limited operating history, are dependent upon key personnel whose loss may adversely impact our business, and some of our business activities and the business activities of some of our customers and counterparties, while believed to be compliant with applicable state law, may be illegal under federal law because they violate the Federal Controlled Substances Act. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
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SOURCE Pineapple Express, Inc.