Pineapple Express Cannabis Company

11/08/2026 | Press release | Distributed by Public on 11/08/2026 14:40

Pineapple Express Cannabis Company reports third quarter results

Pineapple Express Cannabis Company reports third quarter results
Press Release
OTC Disclosure & News Service | 11/08/2026
T-MINES - Pineapple Express Cannabis Company reports third quarter results

Quarterly results · November 8, 2026 · Atlanta, Georgia

Pineapple Express Cannabis Company reports third quarter results

The Company today published its Quarterly Report for the three months ended October 31, 2026. It generated no revenue and recorded a net loss of $167,536, substantially all of it accrued interest. Shares outstanding have risen 183% since the fiscal year end on conversion of convertible notes, most recently at $0.00005 per share. The financial statements carry a going concern qualification.

Ticker$PNXP
Period endedOct 31, 2026
Net loss$(167,536)
Shares outstanding120,391,016

Pineapple Express Cannabis Company (OTC Pink: PNXP, CUSIP 60251H102), doing business as T-MINES™, today reported financial results for the three months ended October 31, 2026, the third 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.

Third quarter and nine month results

Unaudited. Amounts in United States dollars.
Three months ended
Oct 31, 2026 		Three months ended
Oct 31, 2025 		Nine months ended
Oct 31, 2026 		Nine months ended
Oct 31, 2025
Revenue - - - -
Operating expenses 3,257 (110,947) 329,742 319,970
Interest expense (164,279) (98,826) (475,638) (327,802)
Net income (loss) (167,536) 20,459 (805,380) (8,175,785)
Income (loss) per share (0.00) 0.00 (0.01) (0.27)
Cash at period end 500 - 500 -
Total current liabilities at period end 9,007,412 8,344,100 9,007,412 8,344,100
Total stockholders' deficit at period end (9,006,912) (8,154,100) (9,006,912) (8,154,100)

Neither comparative column is comparable to the current period, for different reasons. The $20,459 of income for the three months ended October 31, 2025 arose from a credit to management fees of $112,500, which exceeded that period's other operating costs. It did not reflect revenue; the Company generated none in any period presented.

The $(8,175,785) loss for the nine months ended October 31, 2025 includes a one-time charge of $7,553,609 arising on the acquisition of GROOVY Company, Inc. in March 2025. As originally filed that loss was $(622,176); it is restated here on the basis adopted in the Annual Report for the fiscal year ended January 31, 2026.

Operating expenses for the quarter were $3,257, comprising management fees of $857 and rent of $2,400. The Company incurred no professional fees and no general and administrative expense in the period. Substantially the whole of the quarter's loss is interest of $164,279 accrued on the Company's convertible notes payable, all of which remain in default. The Company's own cash outflow for the nine months was $25,402.

The derivative liability has not been remeasured at October 31, 2026. The derivative liability of $3,075,762 and the warrant liability of $5,000 are carried at their January 31, 2026 amounts, and no change in fair value is recognised in the results above for either period. A remeasurement is required under ASC 820 and the Company expects to obtain a valuation. On completion, the amounts carried for these liabilities and the loss reported for the period may change materially. Readers should not rely on them as final.

Dilution

Shares of common stock outstanding rose from 42,597,604 at January 31, 2026 to 120,391,016 at October 31, 2026, an increase of 183%. The whole of the increase was issued on conversion of convertible notes payable held by JP Carey Enterprises, Inc. No shares were issued for cash, for services, or in settlement during the period, and none were cancelled. Shares outstanding were unchanged at 120,391,016 at November 2, 2026.

77,793,412 shares were issued during the nine months to retire $34,105 of principal and accrued interest - $14,000 of principal and $20,105 of accrued interest. Of that, 20,775,000 shares were issued during the third quarter to retire $4,495, applied in full against accrued interest.

The conversion price fell sharply during the quarter. The August 4, 2026 conversion was effected at $0.0004 per share and the September 8, 2026 conversion at $0.00005 per share, an eighth of the lowest price in the preceding quarter. The notes convert at the lower of 75% of the price on the day of issuance or 50% of the lowest bid price in the 30 trading days preceding conversion, so the number of shares issuable rises as the market price falls. At $0.0005 per share each dollar of debt converts into 2,000 shares; at $0.00005, into 20,000.

Measured against principal of $2,010,747 across the Company's 57 convertible notes, full conversion at $0.0005 would require approximately 4,021,494,000 shares. At the September 8 conversion price of $0.00005 it would require approximately 40,214,940,000 shares. Together with 2,500,000,000 shares issuable on conversion of the Series A Preferred Stock, 187,500,000 shares issuable on conversion of the Series B Preferred Stock, and 100,000,000 shares issuable on exercise of the outstanding warrant, potential issuance substantially exceeds the 500,000,000 shares of authorised common stock on either basis. The Company would be unable to satisfy conversion in full without a further increase in authorised shares.

Financial condition and going concern

At October 31, 2026 the Company held cash of $500, which was its only asset. Total current liabilities were $9,007,412 and total stockholders' deficit was $(9,006,912). 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.

Four convertible notes with aggregate principal of $23,107 were issued to Machiavelli Ltd, LLC during August 2026 on terms consistent with the notes already outstanding. They are the Company's only new borrowings during the nine months.

The Company met substantially all of its obligations during the period by accruing them rather than paying them. Of $329,742 of operating expenses for the nine months, $261,840 was paid directly by an officer of the Company and remains unreimbursed, recorded as a related-party liability; $37,500 was added to accrued compensation; $5,000 was added to accounts payable; and $25,402 was paid in cash.

The 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

Periodic disclosure current

With the publication of this report, the Company has published its Annual Report for the fiscal year ended January 31, 2026 and its Quarterly Reports for the quarters ended April 30, July 31, and October 31, 2026, and its periodic disclosure remains 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.

Name and symbol change pending

An application to the Financial Industry Regulatory Authority for a change of the Company's name and trading symbol is pending. The change becomes effective only upon announcement by FINRA.

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, from which its initial focus on the Colombian mining sector is conducted. 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. 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: [email protected]

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 $500 in cash against current liabilities of $9,007,412; 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; its dependence on an officer to meet operating costs; the substantial dilution that has resulted and would further result from conversion of the outstanding convertible notes, preferred stock, and warrant, the fact that potential issuance exceeds the authorised share capital, and the sensitivity of the number of shares issuable to further declines in the market price of the common stock; the Company's dependence on a sole officer and director; the concentration of its initial origination activity in a single jurisdiction, and the political, regulatory, security, title, and currency risks attaching to mining in Colombia; the absence of a remeasurement of the Company's derivative and warrant liabilities at October 31, 2026 and the possibility that the carrying amounts of those liabilities and the loss reported for the period change materially on completion of a valuation; and its ability to execute any intended change in business direction.

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.

Pineapple Express Cannabis Company · Nevada, USA © 2026 T-MINES™ · TMINES.COM · [email protected]
Pineapple Express Cannabis Company published this content on November 08, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 08, 2026 at 20:41 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]