Pineapple Express Cannabis PNXP

Pineapple Express Cannabis Company is a Nevada corporation focused on strategic investments, advisory services, and direct operations in the legal cannabis and consumer product industries. The company's business model includes identifying and developing early-stage companies operating in these sectors, providing both capital and operational guidance. Through its affiliation with Pineapple Consolidated Inc., it previously participated indirectly in the ownership and management of retail dispensary operations and related cannabis ventures in California. However, on January 30, 2025, the company divested its entire equity interest in Pineapple Consolidated Inc., concluding its investment in cannabis retail operations. On March 5, 2025, subsequent to the end of the fiscal year, the company completed the acquisition of a majority voting interest in GROOVY Company, Inc., a Wyoming corporation and developer of a centralized, blockchain-based Platform as a Service tailored for the cannabis industry. This acquisition marks the company's entry into blockchain-driven authentication and supply chain transparency for the regulated cannabis sector.

Pineapple Express Cannabis Company generates revenue through strategic investments in early-stage cannabis and consumer product companies, providing advisory services, and deriving value from its equity holdings in affiliated businesses. Prior to the divestiture of its interest in Pineapple Consolidated Inc., the company benefited from its 50% equity stake in the cannabis retail operator, which operated through multiple subsidiaries and affiliates in California. Following the acquisition of a majority voting interest in GROOVY Company, Inc., the company now generates revenue through its ownership of a blockchain-based Platform as a Service that delivers product authentication, intellectual property protection, and seed-to-sale traceability solutions. The platform's key features include NFT-based QR code authentication, a genetic library for intellectual property registration, verified product provenance tracking, a consumer-facing mobile app with rewards-based engagement, integration with inventory and compliance systems, and a data analytics and marketplace environment.

The company operates through the following segments: strategic investments and advisory services, and technology platform operations.

• Strategic investments and advisory services: This segment involves identifying and developing early-stage companies in the legal cannabis and consumer product industries, providing both capital and operational guidance to portfolio companies. The segment focuses on nurturing growth in emerging businesses within these sectors, leveraging the company's expertise to support operational and financial development. Activities include evaluating investment opportunities, structuring deals, and offering ongoing advisory support to invested entities.

• Technology platform operations: This segment encompasses the ownership and operation of GROOVY Company, Inc.'s blockchain-based Platform as a Service tailored for the cannabis industry. The platform delivers product authentication through NFT-based QR code verification to detect and prevent counterfeiting, features a genetic library (Geno-NFT) for intellectual property registration and automated royalty distribution, and provides verified product provenance and lab result tracking. It includes a consumer-facing mobile app offering rewards-based engagement, integrates with inventory, compliance, and supply chain systems used by growers, retailers, and regulators, and maintains a data analytics and marketplace environment for ecosystem-wide insights.

Pineapple Express Cannabis Company operates at the intersection of the cannabis industry, compliance technology, and Web3 infrastructure, positioning itself as a provider of blockchain-driven solutions for regulated cannabis markets. The company differentiates itself through its focus on technology-enabled transparency and traceability, addressing industry challenges related to product authenticity, intellectual property protection, and regulatory compliance. While the cannabis technology space includes various competitors offering track-and-trace or compliance solutions, Pineapple Express Cannabis Company's integration of blockchain, NFTs, and decentralized data systems provides a distinct approach to securing supply chain integrity and enabling trusted data sharing across stakeholders.

The company serves cannabis industry participants including licensed growers, processors, retailers, distributors, and regulators who require compliant, transparent, and secure operational solutions. Its technology platform is designed to meet the needs of businesses seeking to verify product authenticity, protect intellectual property, ensure traceability from seed to sale, and engage consumers through digital channels. Additionally, the company works with investors and entrepreneurs in the early-stage cannabis and consumer product sectors, offering strategic guidance and capital to support innovation and market entry.