Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2022 | May 23, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-55896 | |
Entity Registrant Name | PINEAPPLE, INC. | |
Entity Central Index Key | 0001654672 | |
Entity Tax Identification Number | 47-5185484 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 10351 Santa Monica Blvd. | |
Entity Address, Address Line Two | Suite 420 | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90025 | |
City Area Code | 877 | |
Local Phone Number | 310-7675 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 91,163,569 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Current Assets: | ||
Cash | $ 21 | |
Total Current Assets | 21 | |
Property and equipment - net | 6,924 | 8,524 |
Other Assets: | ||
Equity-method investment | 9,792,434 | 9,288,298 |
Deposit on stock purchase agreement – related party | 195,000 | 100,000 |
Total Other Assets | 9,987,434 | 9,388,298 |
Total Assets | 9,994,379 | 9,396,822 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 714,423 | 715,546 |
Accounts payable - related party | 20,731 | 16,500 |
Accrued interest payable | 6,771 | 6,771 |
Settlement payable-related party | 615,000 | 615,000 |
Due to affiliates | 623,232 | 529,948 |
Notes payable-related party | 912,868 | 886,918 |
Note payable | 19,838 | 19,838 |
Advances on agreements | 169,000 | 169,000 |
Contingent liabilities | 105,523 | 105,523 |
Total Current Liabilities | 3,187,386 | 3,065,044 |
Total Liabilities | 3,187,386 | 3,065,044 |
Commitments and contingencies (note 12) | ||
Stockholders’ Equity: | ||
Preferred stock, value | ||
Common stock, $0.0000001 par value, 500,000,000 shares authorized, 91,163,569 shares issued and outstanding as of March 31, 2022, and December 30, 2021, respectively | 9 | 9 |
Subscription received – shares to be issued | 100,000 | |
Additional paid-in-capital | 22,004,077 | 22,004,077 |
Accumulated deficit | (15,297,093) | (15,672,308) |
Total Stockholders’ Equity | 6,806,993 | 6,331,778 |
Total Liabilities and Stockholders’ Equity | 9,994,379 | 9,396,822 |
Series A Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Preferred stock, value |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Preferred stock, par value | $ 0.00 | $ 0.00 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.00 | $ 0.00 |
Common stock, shares authorized | 500,000,000 | 500,000,000 |
Common stock, shares issued | 91,163,569 | 91,163,569 |
Common stock, shares outstanding | 91,163,569 | 91,163,569 |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, par value | $ 0.00 | $ 0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Statement [Abstract] | ||
Revenue | ||
Operating Expenses | ||
General and administrative | 127,321 | 124,697 |
Depreciation | 1,600 | 1,541 |
Total Operating Expenses | 128,921 | 126,238 |
Operating loss | (128,921) | (126,238) |
Other Income (Expense) | ||
Income (loss) from equity-method investment | 504,136 | (283,192) |
Total Other Income (Expense) | 504,136 | (283,192) |
Income (Loss) from operations before taxes | 375,215 | (409,430) |
Provision for income taxes | ||
Net Income (Loss) | $ 375,215 | $ (409,430) |
Net Income (Loss) Per Share – Basic and Diluted | $ 0 | $ 0 |
Weighted Average Common Shares – Basic and Diluted | 91,163,569 | 88,461,200 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Share To Be Issued [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 8 | $ 21,297,078 | $ (14,567,489) | $ 6,729,597 | |
Beginning balance, shares at Dec. 31, 2020 | 88,461,200 | ||||
Common stock subscription received | 147,000 | 147,000 | |||
Net loss | (409,430) | (409,430) | |||
Ending balance, value at Mar. 31, 2021 | $ 8 | 21,297,078 | (14,976,919) | 147,000 | 6,467,167 |
Ending balance, shares at Mar. 31, 2021 | 88,461,200 | ||||
Beginning balance, value at Dec. 31, 2021 | $ 9 | 22,004,077 | (15,672,308) | 6,331,778 | |
Beginning balance, shares at Dec. 31, 2021 | 91,163,569 | ||||
Common stock subscription received | 100,000 | 100,000 | |||
Common stock subscription received, shares | |||||
Net loss | 375,215 | 375,215 | |||
Ending balance, value at Mar. 31, 2022 | $ 9 | $ 22,004,077 | $ (15,297,093) | $ 100,000 | $ 6,806,993 |
Ending balance, shares at Mar. 31, 2022 | 91,163,569 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash Flows from Operating Activities | ||
Net income (loss) | $ 375,215 | $ (409,430) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation | 1,600 | 1,541 |
Loss (income) from equity-method investment | (504,136) | 283,192 |
Changes in operating assets and liabilities: | ||
Accounts payable and accrued liabilities | 26,178 | (36,187) |
Accounts payable related party | 4,231 | 50,980 |
Due to affiliates | 93,283 | 40,578 |
Net cash used in operating activities | (3,629) | (69,326) |
Cash Flows from Investing Activities | ||
Deposit on stock purchase agreement | (95,000) | |
Net cash used in investing activities | (95,000) | |
Cash Flows from Financing Activities | ||
Proceeds for stock subscription received | 100,000 | 147,000 |
Proceeds from related party notes payable | 2,650 | 9,226 |
Repayments of related party notes payable | (4,000) | (86,900) |
Net cash provided by financing activities | 98,650 | 69,326 |
Net Change in Cash | 21 | |
Cash, Beginning of Period | ||
Cash, End of Period | 21 | |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid for interest | ||
Cash paid for taxes |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Note 1 – Organization and Description of Business Pineapple, Inc. (“Pineapple” or the “Company”) was originally formed in the State of Nevada under the name Global Resources, Ltd. on August 3, 1983. On April 12, 1999, the Company changed its name to “Helixphere Technologies Inc.”. On September 19, 2013, the Company changed its name to “New China Global Inc.” On October 30, 2013, the Company filed its Articles of Continuance with the Secretary of State of Wyoming pursuant to which the Company was re-domiciled from the State of Nevada to the State of Wyoming. On July 15, 2014, the Company filed an amendment to its Articles of Incorporation to change its name from “New China Global Inc.” to “Globestar Industries”. On September 3, 2015, the Company changed its name to “Pineapple Express, Inc.” from “Globestar Industries.” The Company’s name has no relation to the 2008 motion picture produced by Columbia Pictures. On March 19, 2019, the Company entered into a Share Exchange Agreement (the “PVI Agreement”) with Pineapple Ventures, Inc. (“PVI”), the Company’s equity-method investment, and the stockholders of PVI (the “PVI Stockholders”) in which the Company acquired a total of 50 % of the outstanding shares of PVI, in consideration for 2,000,000 shares of Series A Convertible Preferred Stock. The Series A Convertible Preferred Stock may, from time to time, be converted by the holder into shares of the Company’s Common Stock, par value $ 0.0000001 (the “Common Stock”), in an amount equal to ten ( 10 ) shares of Common Stock for each one share of Series A Convertible Preferred Stock. The PVI Stockholders elected to immediately convert the 2,000,000 shares of Series A Convertible Preferred Stock into 20,000,000 shares of common stock upon issuance. As a result of the investment in PVI, the Company now has a portfolio asset with which it has entered the cannabis retail, cultivation, production, and distribution sector throughout California. PVI has several leased properties that have been developed to provide these cannabis-related services. PVI, through its affiliates, have obtained 25 cannabis-related licenses throughout Southern California, 18 of which are still partially owned and managed by PVI. PVI has executed management contracts for 10% revenue sharing with seven entities in which it was a founding member and holds equity interest: ● Capital Growth Investments, Inc. (“CGI”): 0 % and 20 %, as of March 31, 2022, and December 31, 2021, respectively (delivery, cultivation, manufacturing, and distribution) ● Universal Herbal Center, Inc (“UHC”): 20 % as of March 31, 2022, and December 31, 2021 (delivery, manufacturing, distribution, and dispensary). ● PNPLXPRESS, Inc. (“PXI”): 10 % equity interest as of March 31, 2022, and December 31, 2021, respectively (delivery and dispensary). ● PNPLXPRESS II, Inc (“Northeast LA Dispensary”): 39 % and 49 % equity interest as of March 31, 2022, and December 31, 2021, respectively (delivery and dispensary). ● RAKING LEAVES, Inc (“West LA Dispensary”): 2.5 % and 0 % equity interest as of March 31, 2022, and December 31, 2021(delivery and dispensary). ● JLK LEGACY, Inc. (South Los Angeles Dispensary): 49 % and 0 % equity interest as of March 31, 2022, and December 31, 2021(delivery and dispensary). ● B&R Retail Ventures, Inc. (San Pedro Dispensary): 4.7 % and 0 % equity interest as of March 31, 2022, and December 31, 2021(delivery and dispensary). As of March 31, 2022, three entities (CGI, UHC and PXI) generated revenue. In November 2021, PVI acquired 100 On January 17, 2020, the Company entered into an agreement with Jaime Ortega whereby in exchange for Mr. Ortega cancelling $ 1,062,000 10,000 10,000 4,827 45,173 45.17 ln addition to having stakes in the foregoing business ventures, the Company was also assigned a patent for the proprietary Top Shelf Safe Display System (“SDS”) for use in permitted cannabis dispensaries and delivery vehicles across the United States and internationally (where permitted by law), on July 20th, 2016, by Sky Island, Inc. (the “SDS Patent”) via a Patent Assignment Agreement (the “Patent Assignment Agreement”). The SDS Patent was originally applied for and filed on August 11, 2015, by Sky Island, Inc. and received its notice of allowance from the United States Patent and Trademark Office on March 22, 2017. It is anticipated that the Top-Shelf SDS product shall retail for $ 30,000 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”). They do not include all of the information and footnotes required by GAAP for complete financial statements and, accordingly, certain information, footnotes, and disclosures normally included in the annual financial statements, prepared in accordance with GAAP, have been condensed or omitted in accordance with SEC rules and regulations. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2022 and further amended and filed with the SEC on May 18, 2022. In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations, and cash flows for the periods presented. Results of interim periods should not be considered indicative of the results for the full year. These unaudited condensed consolidated financial statements include estimates and assumptions of management that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ from these estimates. Basis of Consolidation The consolidated financial statements include the accounts of Pineapple, Inc. and its wholly owned subsidiaries, THC Industries, LLC and Pineapple Express Consulting, Inc., doing business as Pineapple Express and Pineapple Park, LLC. Intercompany accounts and transactions have been eliminated. The Company’s consolidated subsidiaries and/or entities were as follows: Schedule of Consolidated Subsidiaries and/or Entities Name of Consolidated Subsidiary or Entity State or Other Jurisdiction of Incorporation or Organization Date of Incorporation or Formation (Date of Acquisition, if Applicable) Attributable Interest THC Industries, LLC California 12/23/2015(formed) 100 % Pineapple Park LLC California 6/27/2017 100 % Pineapple Express Consulting, Inc. California 3/16/2017 100 % Use of Estimates in Financial Reporting The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the recoverability and useful lives of long-lived assets, assessment of legal accruals, the fair value of the Company’s stock, stock-based compensation and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates. Fair Value of Financial Instruments The Company follows the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) for disclosures about fair value of its financial instruments and to measure the fair value of its financial instruments. The FASB ASC establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of fair value hierarchy are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The carrying amounts of the Company’s financial assets and liabilities, including cash, accounts payable and accrued liabilities, and other current liabilities, approximate their fair values because of the short maturity of these instruments. The fair value of notes payable approximates their fair values since the current interest rates and terms on these obligations are the same as prevailing market rates. Cash The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash and cash equivalents are held in operating accounts at a major financial institution. Cash balances may exceed federally insured limits. Management believes the financial risk associated with these balances is minimal and has not experienced any losses to date. As of March 31, 2022, and December 31, 2021, the Company had no Property and Equipment Property and equipment consist of furniture and fixtures and office equipment. They are recorded at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. The estimated useful lives of the classes of property and equipment are as follows: Schedule of Estimated Useful Lives Property and Equipment Office equipment 5 Furniture and fixtures 7 Investments – Equity Method The Company accounts for equity method investments at cost, adjusted for the Company’s share of the investee’s earnings or losses, which are reflected in the consolidated statements of operations. The Company periodically reviews the investments for other than temporary declines in fair value below cost and more frequently when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. As of March 31, 2022, the Company believes the carrying value of its equity method investments were recoverable in all material respects. Income (Loss) Per Share Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share reflects the potential dilution, using the treasury stock method, that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted income (loss) per share, the treasury stock method assumes that outstanding options and warrants are exercised, and the proceeds are used to purchase common stock at the average market price during the period. Options and warrants may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants. At March 31, 2022, and December 31, 2021, the Company had no Stock-based Compensation The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model, based on weighted average assumptions. Expected volatility is based on historical volatility of our common stock. The Company has elected to use the simplified method described in the Securities and Exchange Commission Staff Accounting Bulletin Topic 14C to estimate the expected term of employee stock options. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant. The value of restricted stock awards is determined using the fair value of the Company’s common stock on the date of grant. The Company accounts for forfeitures as they occur. Compensation expense is recognized on a straight-line basis over the requisite service period of the award. As of March 31, 2022, and December 31,2021, there were no Recently Adopted and Pending Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06 (“ASU 2020-06”) “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” ASU 2020-06 simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. In addition, ASU 2020-06 amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. The Amendments also affects the diluted EPS calculation for instruments that may be settled in cash or shares and for convertible instruments. The amendments are effective for public entities excluding smaller reporting companies for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods. The Company is still evaluating the effect the adoption will have on its financial statements. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statement presentation or disclosures. |
Going Concern
Going Concern | 3 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 – Going Concern The Company’s condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As reflected in its condensed consolidated financial statements, the Company has an accumulated deficit of approximately $ 15.3 million as of March 31, 2022, incurred a net income of approximately $ 0.4 million, principally related to the income from the Company’s equity-method investee, and utilized net cash of $ 3,629 in operating activities during the three months ended March 31, 2022. The Company and the Company’s equity-method investment have incurred net losses prior to Q1 2022. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date that the condensed consolidated financial statements are issued. The Company’s condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s primary source of operating funds since inception has been cash proceeds from the private placements of its common stock and from issuance of its short-term on demand loans, primarily from related parties. The Company intends to raise additional capital in the short term through addition of demand loans and, once the up listing to a higher exchange is completed, through private placements to sell restricted shares of common stock to investors. There can be no assurance that these funds will be available on terms acceptable to the Company, or at all, or will be sufficient to enable the Company to fully complete its development activities or sustain operations. During the three months ended March 31, 2022, the Company raised approximately $ 0.1 If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables, reduce overhead, scale back its current business plan and/or curtail operations until sufficient additional capital is raised to support further operations. The Company’s ability to continue as a going concern is dependent on its ability to execute its strategy and on its ability to raise additional funds. Management is currently seeking additional funds, primarily through the issuance of equity and/or debt securities for cash to operate the Company’s business. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to it. Even if the Company is able to obtain additional financing, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity and/or convertible debt financing. |
Deposit on stock purchase agree
Deposit on stock purchase agreement – related party | 3 Months Ended |
Mar. 31, 2022 | |
Related Party Transactions [Abstract] | |
Deposit on stock purchase agreement – related party | Note 4 – Deposit on stock purchase agreement – related party On August 7, 2021, the Company entered into a Stock Purchase Agreement (the “CGI Agreement”) with Capital Growth Investments, Inc., a California corporation (“CGI”) and PVI, the Company’s equity-method investee. Pursuant to the Agreement, the Company can acquire up to 50,000 shares of CGI (the “Shares”), which comprise 50 % of its issued and outstanding capital stock, from PVI for an aggregate purchase price of $ 1,000,000 . As of March 31, 2022, and December 31, 2021, $ 195,000 and $ 100,000 , respectively, was paid by the Company, which was recorded and presented as deposit on stock purchase agreement related party, in the Company’s condensed consolidated balance sheets as of March 31, 2022, and December 31, 2021. No shares of CGI will be issued until the full purchase price is paid. Within 60 days of execution of the Agreement, the remaining balance of $ 805,000 50 Should the Company be unable to fund the balance of $ 805,000 195,000 |
Property and Equipment
Property and Equipment | 3 Months Ended |
Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 5 – Property and Equipment Property and equipment as of March 31, 2022, and December 31, 2021, is summarized as follows: Schedule of Property and Equipment March 31, 2022 December 31, 2021 Furniture and fixtures $ 43,152 $ 43,152 Office equipment 12,321 12,321 Subtotal 55,473 55,473 Less accumulated depreciation (48,549 ) (46,949 ) Property and equipment, net $ 6,924 $ 8,524 Depreciation expense for the three months ended March 31, 2022, and 2021 was $ 1,600 1,541 |
Equity Method Investment
Equity Method Investment | 3 Months Ended |
Mar. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investment | Note 6 – Equity Method Investment In March 2019, the Company acquired a 50 2,000,000 20,000,000 On January 17, 2020, the Company entered into an agreement with Jaime Ortega whereby in exchange for Mr. Ortega cancelling $ 1,062,000 10,000 10,000 4,827 45,173 The investment was recorded at cost, which was determined to be $ 11,000,000 0.55 10,000,000 45.17 The following represents summarized financial information of PVI as of and for the three months ended March 31, 2022, and 2021, respectively: Summary of Financial Information of Subsidiaries Income statement 2022 2021 Revenue $ 127,381 $ 42,588 Cost of goods sold (152 ) (603 ) Gross margin 127,229 41,985 Operating expenses (482,061 ) (668,933 ) Gain on dispensary equity sale 1,470,918 - Net income (loss) $ 1,116,086 (626,948 ) Balance sheet Current assets $ 2,504,130 $ 202,712 Non-current assets $ 2,445,620 $ 183,521 Current liabilities $ (2,972,766 ) $ (527,941 ) Non-Current liabilities $ (2,347,764 ) $ (1,529,283 ) The Company has recorded an income from equity investment of $ 504,136 during the three months ended March 31, 2022, which has increased the carrying value of the investment as of March 31, 2022, to $ 9,792,434 based on its 45.17 % equity investment. |
Notes Payable - Related Party
Notes Payable - Related Party | 3 Months Ended |
Mar. 31, 2022 | |
Notes Payable - Related Party | |
Notes Payable - Related Party | Note 7 – Notes Payable - Related Party Notes payable-related party, are comprised of the following as of March 31, 2022, and December 31, 2021: Schedule of Notes Payable Related Party Transactions Noteholder Due Interest Rate Secured March 31, 2022 December 31, 2021 Eric Kennedy Demand 0 % No 30,000 30,000 Rob Novinger Demand 0 % No 30,851 30,851 Neu-Ventures, Inc. Demand 0 % No 852,017 826,067 Total $ 912,868 $ 886,918 Eric Kennedy (former director) In May 2019, the Company agreed to a settlement with Eric Kennedy, a Company’s director, related to deferred cash compensation that had been accrued for in the Company’s accounts payable and accrued liabilities to reduce the amount to $ 35,000 36,000 35,000 The note does not incur interest and was originally to be repaid through an initial $ 10,000 5,000 5,000 30,000 30,000 Rob Novinger There was no 30,851 Neu-Ventures, Inc. (The owner is the largest shareholder of the Company) Beginning in April 2019, the Company also began receiving advances from Neu-Ventures, Inc., another entity owned by our majority shareholder, Mr. Ortega. These advances are due on demand and do not incur interest. Advances from Neu-Ventures in the three months ended March 31, 2022, totaled $ 2,650 4,000 27,300 During fiscal year 2021, Neu-Ventures also paid $ 100,000 50,000 The amount payable to Neu Ventures totaled $ 852,017 826,067 |
Note Payable
Note Payable | 3 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
Note Payable | Note 8 – Note Payable The Company, through our former subsidiary, BBC, entered into a $ 25,000 27,313 19,838 7,475 |
Settlement payable-related part
Settlement payable-related party | 3 Months Ended |
Mar. 31, 2022 | |
Settlement Payable-related Party | |
Settlement payable-related party | Note 9 – Settlement payable-related party At March 31, 2022, and December 31, 2021, settlement payable related party balance consist of the following: Schedule of Settlement Payable Related Party Noteholder March 31, 2022 December 31, 2021 Investor Three 615,000 615,000 Settlement payable 615,000 615,000 Settlement payable $ 615,000 $ 615,000 Investor Three In December 2015, the Company entered into a Revenue Share Agreement for $ 750,000 825,000 75,000 200,000 97,800 615,000 |
Advances on Agreements
Advances on Agreements | 3 Months Ended |
Mar. 31, 2022 | |
Advances On Agreements | |
Advances on Agreements | Note 10 – Advances on Agreements At March 31, 2022, and December 31, 2021, advances on agreements balance consist of the following: Schedule of Advance on Agreement Noteholder March 31, 2022 December 31, 2021 Investor One and Investor Two 169,000 169,000 Advances on Agreements $ 169,000 $ 169,000 Investor One On February 16, 2016, the Company entered into a Binding Letter of Intent (“BLOI1”) with Investor One that the Company deemed a financing agreement for the purchase of a certain property (APN: 665-030-044), and upon completion of development of the acquired property, subsequently a revenue share agreement that was for the following considerations: (i) payment by Investor One of $ 125,000 187,500 3,750 During March 2016, the $ 125,000 40,768 Investor Two On March 18, 2016, the Company entered into a Binding Letter of Intent (“BLOI2”), subsequently amended by a Real Property Purchase and Sale Agreement and Joint Escrow Instructions (“Subsequent Land Purchase Agreement”) dated March 21, 2016, both of which the Company deemed a financing agreement for the purchase of a certain property (APN: 665-030-043) for the following considerations: (i) payment by Investor Two of $ 350,000 515,000 165,768 500,000 On March 22, 2016, Investor Two deposited $ 350,000 165,768 Investment Accounting Treatments for Investors One and Two The escrow agreement closed and Investor Two took title to property. There is no provision in BLOI2, or in the Subsequent Land Purchase Agreement, that would impose any continuing liability on the Company other than the loss of the Company’s escrow deposit. As no terms and conditions were established to characterize the $ 125,000 62,500 187,500 3,750 In February 2019, the Company entered into a settlement agreement with Investor One which required the issuance of 20,000 200,000 10,000 4,125 187,500 191,625 8,375 10,000 1,000 20,000 11,000 10,000 no |
Stockholders_ Equity
Stockholders’ Equity | 3 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Stockholders’ Equity | Note 11 – Stockholders’ Equity The Company is authorized to issue 525,000,000 0.0000001 5,000,000 20,000,000 500,000,000 no 91,163,569 Subscription received - shares to be issued During the six months ended June 30, 2021, the Company received a stock subscription totalling $ 265,000 530,000 0.50 570,000 40,000 275,000 10,000 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 12 – Commitments and Contingencies From time to time, the Company is party to certain legal proceedings that arise in the ordinary course and are incidental to our business. Future events or circumstances, currently unknown to management, will determine whether the resolution of pending or threatened litigation or claims will ultimately have a material effect on our consolidated financial position, liquidity, or results of operations in any future reporting periods. The following is a list of current litigation: Pineapple Express v. Ramsey Salem JAMS Arbitration Reference Number: 1220063897 was filed December 4, 2019. This matter arises from claims of breach of contract, more specifically the confidentiality provisions of certain Agreement and Plan of Merger and Reorganization dated February 12, 2016, entered into between the parties and arising from the disclosure of the interim arbitration award in the matter entitled and above-referenced as: Salem, et al. v. Pineapple Express, Inc., et al. JAMS Arbitration Reference Number: 1210035565, filed July 13, 2018, by Respondent. On April 8, 2021, the parties entered into a settlement agreement and mutual general release, under which the Company withdrew the second arbitration. Hawkeye v. Pineapple Express, Inc., et al. Los Angeles Superior Court Case Number: BC708868 was filed June 6, 2018. Plaintiff claimed damages against Defendant in the excess of $ 900,000 615,000 Sharper, Inc. v. Pineapple Express, Inc., et al. Los Angeles Superior Court Case Number: 18SMCV00149 was filed November 1, 2018. Complaint for money with an amount in controversy of $ 32,500 15,375 18,692 18,692 Cunningham v. Pineapple Express, Inc. Los Angeles Superior Court Case Number: BS171779: Judgment, ordered by the Department of Industrial Relations, Labor Commissioner’s Office was entered by the Court on December 11, 2017. The amount of judgment entered was $ 47,674 Pineapple Express, Inc. v. Cunningham Los Angeles Superior Court Case Number: SC 127731 was filed June 21, 2017. This action arose from certain complaint and cross-complaint which were both dismissed. Defendant Cunningham pursued a cost judgment against Plaintiff and obtained a judgment in the amount of $ 2,367 StoryCorp Consulting, dba Wells Compliance Group v. Pineapple Express, Inc. JAMS Arbitration Reference Number: 1210037058 , 15,000 23,805 29,280 29,280 Russ Schamun v. Pineapple Express Consulting, Inc. This is a small claims matter for $ 7,500 7,500 SRFF v. Pineapple Express, Inc. This matter resulted in a stipulated judgment whereas former SEC counsel claimed approximately $ 60,000 Novinger v. Pineapple Express, Inc. Los Angeles Superior Court Case Number: 20CHLC10510 was filed in or about March 11, 2020. This is a limited jurisdiction action arising from a claim for monies lent to Pineapple Express, Inc. without specificity as to the judgment debtor’s state of incorporation, for the total of $ 30,851 , which is accrued for in the Company’s related party notes payable (Note 7) as of March 31, 2022, and December 31, 2021. On September 23, 2020, a default judgment was entered against the Company. The parties are working to resolve the matter or alternatively vacate and set aside the default judgment entered unbeknownst to the Company. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 13 – Subsequent Events The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported. The Company determined that there were no reportable subsequent event(s) to be disclosed. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”). They do not include all of the information and footnotes required by GAAP for complete financial statements and, accordingly, certain information, footnotes, and disclosures normally included in the annual financial statements, prepared in accordance with GAAP, have been condensed or omitted in accordance with SEC rules and regulations. The accompanying financial information should be read in conjunction with the financial statements and the notes thereto in the Company’s most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2022 and further amended and filed with the SEC on May 18, 2022. In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations, and cash flows for the periods presented. Results of interim periods should not be considered indicative of the results for the full year. These unaudited condensed consolidated financial statements include estimates and assumptions of management that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ from these estimates. |
Basis of Consolidation | Basis of Consolidation The consolidated financial statements include the accounts of Pineapple, Inc. and its wholly owned subsidiaries, THC Industries, LLC and Pineapple Express Consulting, Inc., doing business as Pineapple Express and Pineapple Park, LLC. Intercompany accounts and transactions have been eliminated. The Company’s consolidated subsidiaries and/or entities were as follows: Schedule of Consolidated Subsidiaries and/or Entities Name of Consolidated Subsidiary or Entity State or Other Jurisdiction of Incorporation or Organization Date of Incorporation or Formation (Date of Acquisition, if Applicable) Attributable Interest THC Industries, LLC California 12/23/2015(formed) 100 % Pineapple Park LLC California 6/27/2017 100 % Pineapple Express Consulting, Inc. California 3/16/2017 100 % |
Use of Estimates in Financial Reporting | Use of Estimates in Financial Reporting The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the recoverability and useful lives of long-lived assets, assessment of legal accruals, the fair value of the Company’s stock, stock-based compensation and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company follows the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) for disclosures about fair value of its financial instruments and to measure the fair value of its financial instruments. The FASB ASC establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The three levels of fair value hierarchy are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally unobservable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The carrying amounts of the Company’s financial assets and liabilities, including cash, accounts payable and accrued liabilities, and other current liabilities, approximate their fair values because of the short maturity of these instruments. The fair value of notes payable approximates their fair values since the current interest rates and terms on these obligations are the same as prevailing market rates. |
Cash | Cash The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. Cash and cash equivalents are held in operating accounts at a major financial institution. Cash balances may exceed federally insured limits. Management believes the financial risk associated with these balances is minimal and has not experienced any losses to date. As of March 31, 2022, and December 31, 2021, the Company had no |
Property and Equipment | Property and Equipment Property and equipment consist of furniture and fixtures and office equipment. They are recorded at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred. The estimated useful lives of the classes of property and equipment are as follows: Schedule of Estimated Useful Lives Property and Equipment Office equipment 5 Furniture and fixtures 7 |
Investments – Equity Method | Investments – Equity Method The Company accounts for equity method investments at cost, adjusted for the Company’s share of the investee’s earnings or losses, which are reflected in the consolidated statements of operations. The Company periodically reviews the investments for other than temporary declines in fair value below cost and more frequently when events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. As of March 31, 2022, the Company believes the carrying value of its equity method investments were recoverable in all material respects. |
Income (Loss) Per Share | Income (Loss) Per Share Basic income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share reflects the potential dilution, using the treasury stock method, that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the loss of the Company. In computing diluted income (loss) per share, the treasury stock method assumes that outstanding options and warrants are exercised, and the proceeds are used to purchase common stock at the average market price during the period. Options and warrants may have a dilutive effect under the treasury stock method only when the average market price of the common stock during the period exceeds the exercise price of the options and warrants. At March 31, 2022, and December 31, 2021, the Company had no |
Stock-based Compensation | Stock-based Compensation The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model, based on weighted average assumptions. Expected volatility is based on historical volatility of our common stock. The Company has elected to use the simplified method described in the Securities and Exchange Commission Staff Accounting Bulletin Topic 14C to estimate the expected term of employee stock options. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant. The value of restricted stock awards is determined using the fair value of the Company’s common stock on the date of grant. The Company accounts for forfeitures as they occur. Compensation expense is recognized on a straight-line basis over the requisite service period of the award. As of March 31, 2022, and December 31,2021, there were no |
Recently Adopted and Pending Accounting Pronouncements | Recently Adopted and Pending Accounting Pronouncements In August 2020, the FASB issued ASU No. 2020-06 (“ASU 2020-06”) “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity.” ASU 2020-06 simplifies the accounting for convertible instruments by reducing the number of accounting models for convertible debt instruments and convertible preferred stock. Limiting the accounting models results in fewer embedded conversion features being separately recognized from the host contract as compared with current GAAP. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. In addition, ASU 2020-06 amends the guidance for the derivatives scope exception for contracts in an entity’s own equity to reduce form-over-substance-based accounting conclusions. The Amendments also affects the diluted EPS calculation for instruments that may be settled in cash or shares and for convertible instruments. The amendments are effective for public entities excluding smaller reporting companies for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods. The Company is still evaluating the effect the adoption will have on its financial statements. Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statement presentation or disclosures. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of Consolidated Subsidiaries and/or Entities | The Company’s consolidated subsidiaries and/or entities were as follows: Schedule of Consolidated Subsidiaries and/or Entities Name of Consolidated Subsidiary or Entity State or Other Jurisdiction of Incorporation or Organization Date of Incorporation or Formation (Date of Acquisition, if Applicable) Attributable Interest THC Industries, LLC California 12/23/2015(formed) 100 % Pineapple Park LLC California 6/27/2017 100 % Pineapple Express Consulting, Inc. California 3/16/2017 100 % |
Schedule of Estimated Useful Lives Property and Equipment | The estimated useful lives of the classes of property and equipment are as follows: Schedule of Estimated Useful Lives Property and Equipment Office equipment 5 Furniture and fixtures 7 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment as of March 31, 2022, and December 31, 2021, is summarized as follows: Schedule of Property and Equipment March 31, 2022 December 31, 2021 Furniture and fixtures $ 43,152 $ 43,152 Office equipment 12,321 12,321 Subtotal 55,473 55,473 Less accumulated depreciation (48,549 ) (46,949 ) Property and equipment, net $ 6,924 $ 8,524 |
Equity Method Investment (Table
Equity Method Investment (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Summary of Financial Information of Subsidiaries | The following represents summarized financial information of PVI as of and for the three months ended March 31, 2022, and 2021, respectively: Summary of Financial Information of Subsidiaries Income statement 2022 2021 Revenue $ 127,381 $ 42,588 Cost of goods sold (152 ) (603 ) Gross margin 127,229 41,985 Operating expenses (482,061 ) (668,933 ) Gain on dispensary equity sale 1,470,918 - Net income (loss) $ 1,116,086 (626,948 ) Balance sheet Current assets $ 2,504,130 $ 202,712 Non-current assets $ 2,445,620 $ 183,521 Current liabilities $ (2,972,766 ) $ (527,941 ) Non-Current liabilities $ (2,347,764 ) $ (1,529,283 ) |
Notes Payable - Related Party (
Notes Payable - Related Party (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Payable - Related Party | |
Schedule of Notes Payable Related Party Transactions | Notes payable-related party, are comprised of the following as of March 31, 2022, and December 31, 2021: Schedule of Notes Payable Related Party Transactions Noteholder Due Interest Rate Secured March 31, 2022 December 31, 2021 Eric Kennedy Demand 0 % No 30,000 30,000 Rob Novinger Demand 0 % No 30,851 30,851 Neu-Ventures, Inc. Demand 0 % No 852,017 826,067 Total $ 912,868 $ 886,918 |
Settlement payable-related pa_2
Settlement payable-related party (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Settlement Payable-related Party | |
Schedule of Settlement Payable Related Party | At March 31, 2022, and December 31, 2021, settlement payable related party balance consist of the following: Schedule of Settlement Payable Related Party Noteholder March 31, 2022 December 31, 2021 Investor Three 615,000 615,000 Settlement payable 615,000 615,000 Settlement payable $ 615,000 $ 615,000 |
Advances on Agreements (Tables)
Advances on Agreements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Advances On Agreements | |
Schedule of Advance on Agreement | At March 31, 2022, and December 31, 2021, advances on agreements balance consist of the following: Schedule of Advance on Agreement Noteholder March 31, 2022 December 31, 2021 Investor One and Investor Two 169,000 169,000 Advances on Agreements $ 169,000 $ 169,000 |
Organization and Description _2
Organization and Description of Business (Details Narrative) - USD ($) | Jan. 17, 2020 | Jan. 17, 2020 | Mar. 19, 2019 | Mar. 22, 2017 | Mar. 31, 2019 | Mar. 31, 2022 | Dec. 31, 2021 | Nov. 30, 2021 | Jun. 30, 2021 | Feb. 11, 2021 | Feb. 11, 2020 |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.00 | $ 0.00 | $ 0.50 | ||||||||
Equity method investment ownership, percentage | 45.17% | ||||||||||
Capital Growth Investments Inc [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 0.00% | 20.00% | |||||||||
Universal Herbal Center Inc [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 20.00% | ||||||||||
PXI [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 10.00% | ||||||||||
PXI II [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 39.00% | 49.00% | |||||||||
RAKING LEAVES, Inc. [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 2.50% | 0.00% | |||||||||
JLK LEGACY, Inc. [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 49.00% | 0.00% | |||||||||
B and R Retail Ventures, Inc. [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 4.70% | 0.00% | |||||||||
Pineapple Ventures, Inc. [Member] | Mr. Ortega [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment ownership, percentage | 45.17% | 45.17% | |||||||||
Existing loan cancelled | $ 1,062,000 | $ 1,062,000 | |||||||||
Capital stock shares issued | 10,000 | 10,000 | 4,827 | 10,000 | |||||||
Equity method investments shares owned | 45,173 | ||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.00 | $ 0.00 | $ 0.00 | ||||||||
Shares, Issued | 10 | ||||||||||
Share Exhange Agreement [Member] | Pineapple Ventures, Inc. [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 50.00% | 50.00% | 100.00% | ||||||||
Share Exhange Agreement [Member] | Pineapple Ventures, Inc. [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 2,000,000 | ||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 2,000,000 | 20,000,000 | |||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 20,000,000 | 2,000,000 | |||||||||
Top Shelf Safe Display System [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Product retail amount | $ 30,000 |
Schedule of Consolidated Subsid
Schedule of Consolidated Subsidiaries and/or Entities (Details) | 3 Months Ended |
Mar. 31, 2022 | |
THC Industries, LLC [Member] | |
Name of subsidiary | THC Industries, LLC |
Entity incorporation state country name | California |
Date of incorporation | 12/23/2015(formed) 2/16/2016 (acquired by us) |
Minority interest ownership percentage | 100.00% |
Pineapple Park, LLC [Member] | |
Name of subsidiary | Pineapple Park LLC |
Entity incorporation state country name | California |
Date of incorporation | 6/27/2017 |
Minority interest ownership percentage | 100.00% |
Pineapple Express Consulting, Inc. [Member] | |
Name of subsidiary | Pineapple Express Consulting, Inc. |
Entity incorporation state country name | California |
Date of incorporation | 3/16/2017 |
Minority interest ownership percentage | 100.00% |
Schedule of Estimated Useful Li
Schedule of Estimated Useful Lives Property and Equipment (Details) | 3 Months Ended |
Mar. 31, 2022 | |
Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment useful lives | 5 years |
Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Property plant and equipment useful lives | 7 years |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Cash, FDIC insured amount | $ 0 | $ 0 | |
Number of outstanding options and warrants | 0 | 0 | |
Convertible Debt Securities [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities option or warrants | 0 | 0 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Retained Earnings (Accumulated Deficit) | $ 15,297,093 | $ 15,672,308 | |
Net Income (Loss) Attributable to Parent | 375,215 | $ (409,430) | |
Net Cash Provided by (Used in) Operating Activities | 3,629 | $ 69,326 | |
Cash proceeds from sale of common stock | $ 100,000 |
Deposit on stock purchase agr_2
Deposit on stock purchase agreement – related party (Details Narrative) - USD ($) | Aug. 07, 2021 | Mar. 31, 2022 | Dec. 31, 2021 |
Related Party Transaction [Line Items] | |||
Deposits Assets, Noncurrent | $ 195,000 | $ 100,000 | |
CGI Agreement [Member] | |||
Related Party Transaction [Line Items] | |||
Stock Issued During Period, Shares, Acquisitions | 50,000 | ||
Percentage of shares exchanged | 50.00% | ||
Stock Issued During Period, Value, Acquisitions | $ 1,000,000 | ||
Shareholder Agreement [Member] | |||
Related Party Transaction [Line Items] | |||
Percentage of shares exchanged | 50.00% | ||
Deposit assets | $ 805,000 | ||
Agreement description | Should the Company be unable to fund the balance of $805,000 by March 31, 2022, the transaction shall be cancelled and the refundable deposit of $195,000 shall be returned to the Company. In March 2022, all parties agreed to extend the closing to June 30, 2022 (“revised closing date”). Should the Company be unable to fund the balance of $805,000 by June 30, 2022, the transaction will be cancelled, and all deposits would be returned to the Company. | ||
Cancelled amount | $ 805,000 | ||
Shareholder Agreement [Member] | Equity Method Investee [Member] | |||
Related Party Transaction [Line Items] | |||
Refundable deposits | $ 195,000 |
Schedule of Property and Equipm
Schedule of Property and Equipment (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Subtotal | $ 55,473 | $ 55,473 |
Less accumulated depreciation | (48,549) | (46,949) |
Property and equipment, net | 6,924 | 8,524 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | 43,152 | 43,152 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Subtotal | $ 12,321 | $ 12,321 |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 1,600 | $ 1,541 |
Summary of Financial Informatio
Summary of Financial Information of Subsidiaries (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Restructuring Cost and Reserve [Line Items] | ||
Revenue | ||
Operating expenses | (128,921) | (126,238) |
Net income (loss) | 375,215 | (409,430) |
Current assets | 21 | |
Current liabilities | (3,187,386) | |
Pineapple Ventures, Inc. [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Revenue | 127,381 | 42,588 |
Cost of goods sold | (152) | (603) |
Gross margin | 127,229 | 41,985 |
Operating expenses | (482,061) | (668,933) |
Gain on dispensary equity sale | 1,470,918 | |
Net income (loss) | 1,116,086 | (626,948) |
Current assets | 2,504,130 | 202,712 |
Non-current assets | 2,445,620 | 183,521 |
Current liabilities | (2,972,766) | (527,941) |
Non-Current liabilities | $ (2,347,764) | $ (1,529,283) |
Equity Method Investment (Detai
Equity Method Investment (Details Narrative) - USD ($) | Jan. 17, 2020 | Jan. 17, 2020 | Mar. 19, 2019 | Mar. 31, 2019 | Mar. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2021 | Nov. 30, 2021 | Feb. 11, 2021 | Feb. 11, 2020 |
Investment cost | $ 11,000,000 | |||||||||
Investment option price | $ 0.55 | |||||||||
Equity Method Investment, Ownership Percentage | 45.17% | |||||||||
Equity Method Investment, Realized Gain (Loss) on Disposal | $ 504,136 | |||||||||
Equity Method Investments | $ 9,792,434 | $ 9,288,298 | ||||||||
Common Stock [Member] | ||||||||||
Issuance of common shares for equity method investment | 10,000,000 | |||||||||
Pineapple Ventures, Inc. [Member] | Mr. Ortega [Member] | ||||||||||
Existing loan cancelled | $ 1,062,000 | $ 1,062,000 | ||||||||
Capital stock shares issued | 10,000 | 10,000 | 4,827 | 10,000 | ||||||
Equity method investments shares owned | 45,173 | |||||||||
Equity Method Investment, Ownership Percentage | 45.17% | 45.17% | ||||||||
Share Exhange Agreement [Member] | Pineapple Ventures, Inc. [Member] | ||||||||||
Acquisition percentage | 50.00% | 50.00% | 100.00% | |||||||
Share Exhange Agreement [Member] | Pineapple Ventures, Inc. [Member] | Series A Convertible Preferred Stock [Member] | ||||||||||
Convertible preferred stock shares converted upon issuance | 20,000,000 | 2,000,000 | ||||||||
Number of stock issued during the period converted | 2,000,000 | 20,000,000 |
Schedule of Notes Payable Relat
Schedule of Notes Payable Related Party Transactions (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Dec. 31, 2021 | |
Short-Term Debt [Line Items] | ||
Notes payable | $ 912,868 | $ 886,918 |
Eric Kennedy [Member] | ||
Short-Term Debt [Line Items] | ||
Due | Demand | Demand |
Interest rate | 0.00% | 0.00% |
Secured | No | No |
Notes payable | $ 30,000 | $ 30,000 |
Rob Novinger [Member] | ||
Short-Term Debt [Line Items] | ||
Due | Demand | Demand |
Interest rate | 0.00% | 0.00% |
Secured | No | No |
Notes payable | $ 30,851 | $ 30,851 |
Neu-Ventures, Inc. [Member] | ||
Short-Term Debt [Line Items] | ||
Due | Demand | Demand |
Interest rate | 0.00% | 0.00% |
Secured | No | No |
Notes payable | $ 852,017 | $ 826,067 |
Notes Payable - Related Party_2
Notes Payable - Related Party (Details Narrative) - USD ($) | Aug. 07, 2021 | May 31, 2019 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Proceeds from related party debt | $ 2,650 | $ 9,226 | ||||
Notes payable to related party | 912,868 | $ 886,918 | ||||
Neu-Ventures, Inc. [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Proceeds from related party debt | 2,650 | |||||
Payment for cash | 4,000 | |||||
Corporate expenses | 27,300 | |||||
Notes payable to related party | 852,017 | 826,067 | ||||
Neu-Ventures, Inc. [Member] | Capital Growth Investment, Inc [Member] | Stock Purchase Agreement [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Shares issed for acquisition, value | $ 100,000 | |||||
Shares issed for acquisition | 50,000 | |||||
Eric Kennedy [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Accounts payable and accrued liabilities | $ 35,000 | |||||
Gain on settlement of related party debt | 36,000 | |||||
Related party notes payable | 35,000 | 30,000 | 30,000 | |||
Repayments of debt | 10,000 | |||||
Debt instrument, periodic payment | $ 5,000 | $ 5,000 | ||||
Debt instrument face value | $ 30,000 | |||||
Rob Novinger [Member] | ||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||
Related party notes payable | 30,851 | $ 30,851 | ||||
Debt instrument face value | $ 0 |
Note Payable (Details Narrative
Note Payable (Details Narrative) - Line of Credit [Member] - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Jul. 02, 2016 |
Short-Term Debt [Line Items] | |||
Line of credit | $ 27,313 | $ 27,313 | |
Principal amount | 19,838 | 19,838 | |
Accrued interest | $ 7,475 | $ 7,475 | |
Better Business Consultants, Inc. [Member] | |||
Short-Term Debt [Line Items] | |||
Notes payable | $ 25,000 |
Schedule of Settlement Payable
Schedule of Settlement Payable Related Party (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Settlement payable | $ 615,000 | $ 615,000 |
Investor Three [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Settlement payable | $ 615,000 | $ 615,000 |
Settlement payable-related pa_3
Settlement payable-related party (Details Narrative) - Investor Three [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 30, 2018 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Note payable | $ 200,000 | ||
Loss on settlement of debt | $ 615,000 | $ 97,800 | |
Revenue Share Agreement [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Advances on agreements, net of unamortized deferred finance cost | $ 750,000 | ||
Due to related party | 825,000 | ||
Deferred finance cost | $ 75,000 |
Schedule of Advance on Agreemen
Schedule of Advance on Agreement (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2018 |
Defined Benefit Plan Disclosure [Line Items] | |||
Advances on agreements | $ 169,000 | $ 169,000 | |
Investor One and Investor Two [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Advances on agreements | $ 169,000 | $ 169,000 | $ 187,500 |
Advances on Agreements (Details
Advances on Agreements (Details Narrative) - USD ($) | Feb. 28, 2019 | Mar. 18, 2016 | Feb. 16, 2016 | Mar. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2018 | Mar. 31, 2016 | Mar. 22, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Rent payment | $ 3,750 | |||||||||
Advances on agreements current | $ 169,000 | $ 169,000 | ||||||||
Investor One [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Advances on agreements current | 187,500 | |||||||||
Number of shares issued, value | $ 200,000 | |||||||||
Installment payments | 10,000 | |||||||||
Interest expense | $ 4,125 | |||||||||
Investor One [Member] | Binding Letter of Intent One [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Payments to acquire property | $ 125,000 | |||||||||
Repurchase the financed property | 187,500 | |||||||||
Rent payment | $ 3,750 | |||||||||
Due from Related Parties | $ 125,000 | |||||||||
Escrow Deposit | $ 40,768 | |||||||||
Number of shares issued | 20,000 | |||||||||
Number of shares issued, value | $ 10,000 | |||||||||
Investor One [Member] | Binding Letter of Intent Two [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Advances on agreements current | 191,625 | |||||||||
Investor Two [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Escrow Deposit | $ 350,000 | |||||||||
Investor Two [Member] | Binding Letter of Intent One [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Deferred liability | 62,500 | |||||||||
Investor Two [Member] | Binding Letter of Intent Two [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Payments to acquire property | $ 350,000 | |||||||||
Repurchase the financed property | 500,000 | |||||||||
Escrow Deposit | 165,768 | |||||||||
Purchase price of property | $ 515,000 | |||||||||
Investor Two [Member] | Binding Letter of Intent [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Forfeited escrow deposits | $ 165,768 | |||||||||
Investor One And Two [Member] | Binding Letter of Intent One [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Investment as note payable | 125,000 | |||||||||
Investor One and Investor Two [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Advances on agreements current | 169,000 | 169,000 | $ 187,500 | |||||||
Number of shares issued, value | 11,000 | |||||||||
Additional expense | 8,375 | |||||||||
Debt periodic payment | $ 10,000 | |||||||||
Reduced value | $ 1,000 | |||||||||
Advances on agreements | $ 0 | $ 0 | ||||||||
Investor One and Investor Two [Member] | Binding Letter of Intent One [Member] | ||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||
Number of shares issued | 20,000 |
Stockholders_ Equity (Details N
Stockholders’ Equity (Details Narrative) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Mar. 19, 2019 |
Class of Stock [Line Items] | |||||
Capital units, authorized | 525,000,000 | ||||
Capital stock, par value | $ 0.00 | ||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | |||
Common stock shares designated | 500,000,000 | 500,000,000 | |||
Preferred stock, shares issued | 0 | 0 | |||
Preferred Stock, Shares Outstanding | 0 | 0 | |||
Common stock, shares issued | 91,163,569 | 91,163,569 | |||
Common stock, shares outstanding | 91,163,569 | 91,163,569 | |||
Stock subscription received | $ 265,000 | ||||
Share subscription shares | 530,000 | ||||
Preferred stockprice per share | $ 0.00 | $ 0.00 | $ 0.50 | ||
Shares not yet issued | 570,000 | 40,000 | |||
Shares to be issued,Value | $ 275,000 | $ 10,000 | |||
Series A Convertible Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | |||
Preferred stock, shares issued | 0 | 0 | |||
Preferred Stock, Shares Outstanding | 0 | 0 | |||
Preferred stockprice per share | $ 0.00 | $ 0.00 | $ 0.00 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | May 11, 2021 | Jan. 22, 2018 | Dec. 11, 2017 | Mar. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2021 |
Notes payable-related party | $ 912,868 | $ 886,918 | ||||
Hawkeye v. Pineapple Express, Inc [Member] | ||||||
Plaintiff claimed damages | 900,000 | |||||
Claims from court | 615,000 | |||||
Sharper, Inc v.Pineapple Express, Inc [Member] | ||||||
Amount in controversy | 32,500 | |||||
Principal amount | 15,375 | |||||
Contingent liabilities | 18,692 | 18,692 | ||||
Cunningham Pineapple Express, Inc [Member] | ||||||
Judgement enforcement value | $ 47,674 | |||||
Cunningham v.Pineapple Express, Inc [Member] | ||||||
Judgment award transitioned | $ 2,367 | |||||
StoryCorp Consulting, dba Wells Compliance Group [Member] | ||||||
Contingent liabilities | 29,280 | $ 23,805 | 29,280 | |||
Judgment award transitioned | $ 29,280 | $ 15,000 | ||||
Russ Schamun [Member] | ||||||
Contingent liabilities | 7,500 | 7,500 | ||||
Pineapple Express, Inc. [Member] | ||||||
Stipulated judgment claimed | 60,000 | |||||
Notes payable-related party | $ 30,851 | $ 30,851 |