Business
Pineapple Financial Inc. Responds to NYSE Commencement of Proceedings to Delist
Toronto, Ontario--(Newsfile Corp. - May 19, 2025) - Pineapple Financial (OTC Pink: PAPLF) announced today that it is working on certain curative actions to regain compliance to maintain its listing and appeal the NYSE's determination to delist its common shares to the Listings Qualifications Panel of the Exchange. The Company's common shares will be suspended from trading on the NYSE American during this time. The NYSE Regulation commenced delisting proceedings in connection with ...
About this update from Pineapple Financial Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 19, 2025) - Pineapple Financial (OTC Pink: PAPLF) announced today that it is working on certain curative actions to regain compliance to maintain its listing and appeal the NYSE's determination to delist its common shares to the Listings Qualifications Panel of the Exchange. The Company's common shares will be suspended from trading on the NYSE American during this time. The NYSE Regulation commenced delisting proceedings in connection with its determination and announced on May 14, 2025, that the Company is no longer suitable for listing pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the bid price falling under $.10.","length":699,"tagName":"p"},{"type":"text","content":"Our stock price was impacted due to the spread of false and malicious information. This misinformation caused an immediate and significant impact on the stock price, which prompted the NYSE to halt trading.","length":206,"tagName":"p"},{"type":"text","content":"We want to make it abundantly clear that this incident does not reflect the true state of Pineapple Financial, nor does it affect our operations in any way. Our business remains strong, and we continue to make significant strides towards our goals of profitability and technological innovation. The management team and Board of Directors are fully committed to resolving this matter swiftly and are working closely with the NYSE and regulators to ensure trading is resumed as soon as possible. A reverse stock split, ratified by the Board, is anticipated to resolve the situation, with a special shareholder meeting scheduled for June.","length":635,"tagName":"p"},{"type":"text","content":"While we understand the concerns that this situation has raised, we are confident that this is a temporary challenge. We remain focused on our business growth, advancing our technology, and delivering long-term value for our shareholders. Our commitment to building a stronger, more resilient Pineapple Financial has never wavered.","length":331,"tagName":"p"},{"type":"text","content":"We would like to take a moment to express our sincere gratitude to our shareholders for their continued trust and support during this time. Your belief in Pineapple Financial is invaluable, and we are confident that we will emerge from this stronger than before. We will cont...