The company procures and leases properties to licensed cannabis operators and provides nationwide hemp-derived CBD sales via its wholly owned subsidiary Pineapple Wellness Inc., while also offering cannabis business licensing and consulting services through Pineapple Express Consulting Inc. The business model centers on ancillary cannabis services rather than direct plant cultivation or retail operations, positioning it within the legal cannabis ecosystem.
Cyborg Score Rationale
In May 2024, the company filed a Form 15 with the Securities and Exchange Commission to voluntarily terminate its duty to file reports. The company trades over-the-counter with minimal market capitalization and historically sparse financial disclosures, indicating significant governance and reporting challenges that constrain investor transparency.
Top Insights
Pineapple Wellness Inc. acquisition completed in June 2023, adding an e-commerce platform and flagship retail location near Beverly Hills.
Company voluntarily terminated SEC reporting obligations in May 2024 following auditor issues with BF Borgers.
As of most recent data, market capitalization was approximately $4.8 million with 73.1 million shares outstanding.
Company was founded in 1983.
Named Competitors
Trulieve Cannabis — Largest cannabis retailer in US with multistate operations
Curaleaf Holdings — Multistate cannabis retailer and producer
Grassroots Cannabis — Regional cannabis retailer focusing on consumer experience
Recent Developments
(June 2023) Acquired CBD Wellness Company Pineapple Wellness Inc. and e-commerce platform PineappleWellness.com
(May 2024) Filed Form 15 with SEC to voluntarily terminate reporting obligations
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