Quarterly results · September 22, 2026 · Atlanta, Georgia
Pineapple Express Cannabis Company reports first quarter resultsThe Company today published its Quarterly Report for the three months ended April 30, 2026. It generated no revenue in the quarter and recorded a net loss of $354,591. Its financial statements carry a going concern qualification.
- Ticker
- $PNXP
- Period ended
- Apr 30, 2026
- Net loss
- $(354,591)
- Loss per share
- $(0.01)
Pineapple Express Cannabis Company (OTC Pink: PNXP), doing business as T-MINES™, today reported financial results for the three months ended April 30, 2026, the first quarter of its fiscal year ending January 31, 2027. The Quarterly Report has been published through the OTC Disclosure & News Service and is available at otcmarkets.com.
First quarter results
| Three months ended April 30, 2026 | Three months ended April 30, 2025 | |
|---|---|---|
| Revenue | — | — |
| Operating expenses | 203,430 | 184,594 |
| Net loss | (354,591) | (8,212,902) |
| Loss per share, basic and diluted | (0.01) | (0.38) |
| Cash at period end | 325 | — |
| Total current liabilities at period end | 8,590,553 | 8,396,980 |
| Total stockholders’ deficit at period end | (8,590,228) | (8,206,980) |
The two periods are not comparable. The prior-year quarter includes a one-time, non-cash charge of $7,553,609 arising on the Company’s acquisition of GROOVY Company, Inc. on March 5, 2025, which represents 92% of that period’s net loss. Excluding that charge, the prior-year quarter would have reflected a net loss of $659,293.
The reduction in reported net loss is attributable to the absence of that one-time charge and should not be read as an improvement in operating performance. Operating expenses increased to $203,430 from $184,594.
Interest expense of $151,161 accrued on the Company’s convertible notes payable, all of which remain in default. Of the quarter’s net loss, $352,121 was accrued rather than settled in cash; $2,470 was paid.
Financial condition and going concern
At April 30, 2026 the Company held cash of $325, which was its only asset. Total current liabilities were $8,590,553 and total stockholders’ deficit was $(8,590,228). All of the Company’s convertible notes payable are in default and immediately due and payable, and each contains a cross-default provision under which a default under any one note accelerates all of them.
The Company’s financial statements include a going concern qualification. These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the financial statements are issued. The Company has no committed source of financing. There can be no assurance that management will be successful in restructuring the defaulted notes or in raising additional capital, or that financing will be available on acceptable terms or at all.
Corporate developments
Second quarter report
The Company intends to publish its Quarterly Report for the three months ended July 31, 2026 through the OTC Disclosure & News Service during the week of September 28th, 2026. Together with the Quarterly Report announced today and the Annual Report for the fiscal year ended January 31, 2026 published on September 3, 2026, that filing is intended to bring the Company’s periodic disclosure current.
OTCID Basic Market
The Company intends to satisfy the requirements for the OTCID Basic Market, which include current public disclosure, annual verification of the company profile, and an executed management certification. Tier designation is determined by OTC Markets Group and not by the Company. No assurance can be given that the Company will be designated to, or will maintain, any particular market tier.
Disclosure practice
The Company is committed to maintaining current public disclosure and to making the information shareholders need available through the OTC Disclosure & News Service on a timely basis.
First tokenized offering
The Company expects to complete the tokenization of its first gold mining asset during the first week of October 2026. As of the date of this release the Company has not entered into a definitive agreement in respect of that asset. No assurance can be given that a definitive agreement will be executed, that any tokenization will be completed on the anticipated timeline or at all, or as to the terms on which any offering may be made.
About Pineapple Express Cannabis Company
Pineapple Express Cannabis Company, doing business as T-MINES™, is a Nevada corporation building a vertically integrated tokenized mineral finance platform connecting global mining operators, verified investors, and traders on a single compliance-first rail. Coverage spans gold, silver, copper, platinum, diamonds, emeralds and other precious stones, and rare earth elements, through three instrument families.
TMCT
TM Claim Tokens
Senior secured note tokens backed by first-priority UCC Article 9 liens, an independent collateral agent, and bankruptcy-remote special purpose vehicles.
TMVT
TM Vault Tokens
Title-bearing tokens representing 1:1 allocated physical metal or individually graded stones in accredited third-party custody.
TMFT
TM Float Tokens
1:1 share-backed wrappers on mining company equity with full dividend pass-through and instruction-based voting.
All instruments issue on TM Protocol, a permissioned EVM rail built on the ERC-3643 (T-REX) standard with on-chain identity (ONCHAINID) and modular compliance, enforcing know-your-customer, anti-money-laundering, and eligibility requirements on every transfer at the contract level. Tokenized securities on the platform are digital securities by operation of law under the Wyoming Digital Assets Act, Wyo. Stat. §§ 34-29-101 et seq. Primary offerings are conducted under Regulation D Rule 506(c) and Regulation S, with secondary transfers contemplated following the applicable Rule 144 holding period through registered alternative trading systems and broker-dealer venues.
The Company’s Corporate Offices are located in Atlanta, Georgia and its Operational Offices in Medellín, Colombia. The Company is not a mining operator and does not conduct extraction. Where a financing is issued on the platform, mineral title and other mine assets are pledged as collateral security for the benefit of instrument holders, held by an independent collateral agent or through a bankruptcy-remote special purpose vehicle formed for that financing.
The Company has not generated revenue from the platform. The Company does not represent that any regulator has approved, endorsed, or passed upon its instruments, its platform, or the merits of any offering. An application to the Financial Industry Regulatory Authority for a change of the Company’s name and trading symbol is pending. More information is available at tmines.com.
Investor contact
FranJose Yglesias
Chief Executive Officer, President, and Chief Financial Officer
Pineapple Express Cannabis Company
300 Peachtree Street NE, Suite #1775, Atlanta, GA 30308
Telephone: 404-734-3277
Email: frank@tmines.com
Web: https://tmines.com
Cautionary statement regarding forward-looking statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are generally identifiable by the use of terms such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “project,” “seek,” or similar expressions. These statements are based on assumptions and are subject to risks and uncertainties that could cause actual results to differ materially.
Those risks include, without limitation: the Company’s ability to continue as a going concern; its holding of $325 in cash against current liabilities of $8,590,553; the default status of all of its convertible notes payable and the cross-default provisions contained in them; the absence of revenue; the absence of any committed source of financing; the substantial dilution that would result from conversion of the outstanding convertible notes, preferred stock, and warrant; the Company’s dependence on a sole officer and director; its ability to execute any intended change in business direction; and the absence of any definitive agreement in respect of the gold mining asset referred to above.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Except as required by law, the Company undertakes no obligation to update them. This release does not constitute an offer to sell or a solicitation of an offer to buy any security, and no security may be offered or sold except in compliance with applicable law.