Cover
Cover - shares | 6 Months Ended | |
Jun. 30, 2023 | Sep. 13, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2023 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
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 | 73,103,569 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Current Assets: | ||
Cash | $ 1,509 | |
Inventory | 27,336 | |
Lease receivable – related parties | 52,500 | |
Total Current Assets | 54,009 | 27,336 |
Security deposits | 270,278 | |
Property and equipment, net | 2,358 | |
Operating lease right-of-use assets, net | 6,240,497 | |
Total Assets | 6,564,784 | 29,694 |
Current Liabilities: | ||
Accounts payable and accrued liabilities | 398,983 | 398,551 |
Accounts payable - related party | 31,500 | |
Accrued interest payable | 6,771 | 6,771 |
Settlement payable - related party | 615,000 | 615,000 |
Due to affiliates | 21,456 | |
Advances on agreements | 169,000 | 169,000 |
Contingent liabilities | 105,523 | 105,523 |
Operating lease liabilities | 1,042,093 | |
Total Current Liabilities | 3,033,919 | 1,414,372 |
Operating lease liabilities, non-current | 5,337,643 | |
Total Liabilities | 8,371,562 | 1,414,372 |
Commitments and contingencies (note 13) | ||
Stockholders’ Deficit: | ||
Preferred stock value | ||
Common stock, $0.0000001 par value, 500,000,000 shares authorized, 73,103,569 shares and 71,163,569 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively | 7 | 7 |
Subscription received – shares to be issued | 150,000 | |
Additional paid-in-capital | 22,239,079 | 22,004,079 |
Accumulated deficit | (24,045,864) | (23,538,764) |
Total Stockholders’ Deficit | (1,806,778) | (1,384,678) |
Total Liabilities and Stockholders’ Deficit | 6,564,784 | 29,694 |
Series A Convertible Preferred Stock [Member] | ||
Stockholders’ Deficit: | ||
Preferred stock value | ||
Related Party [Member] | ||
Current Liabilities: | ||
Accounts payable - related party | 31,500 | 31,500 |
Notes payable | 46,733 | 46,733 |
Affiliated Entity [Member] | ||
Current Liabilities: | ||
Due to affiliates | 598,478 | 21,456 |
Nonrelated Party [Member] | ||
Current Liabilities: | ||
Notes payable | $ 19,838 | $ 19,838 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2023 | Dec. 31, 2022 |
Preferred stock, shares par value | $ 0.00 | $ 0.00 |
Preferred stock, shares authorised | 20,000,000 | 20,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Preferred stock, shares issued | 0 | 0 |
Common stock, shares par value | $ 0.00 | $ 0.00 |
Common stock, shares authorised | 500,000,000 | 500,000,000 |
Common stock, shares outstanding | 73,103,569 | 71,163,569 |
Common stock, shares issued | 73,103,569 | 71,163,569 |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, shares par value | $ 0.00 | $ 0.00 |
Preferred stock, shares authorised | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Preferred stock, shares issued | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue | ||||||
Sublease revenue – related parties | $ 6,900 | $ 52,500 | ||||
Lease expense | 287,134 | 323,134 | ||||
Sublease revenue | (280,234) | (270,634) | ||||
Sales revenue | 640 | 822 | ||||
Cost of sales | 336 | 488 | ||||
Gross profit excluding sublease revenue | 304 | 334 | ||||
Gross Profit (Loss) | (280,234) | 304 | (270,634) | 334 | ||
Operating Expenses | ||||||
General and administrative | 56,194 | 70,178 | 56,772 | 138,499 | ||
Management consulting fees - related parties | 75,000 | 59,000 | 150,000 | 118,000 | ||
Depreciation | 817 | 1,598 | 2,358 | 3,196 | ||
Total Operating Expenses | 132,011 | 130,776 | 209,130 | 259,695 | ||
Operating loss | (412,245) | (130,472) | (479,764) | (259,361) | ||
Other Income (Expense) | ||||||
Income from equity-method investment | 237,228 | 741,364 | ||||
Gain on forgiveness of related party note payable | 30,000 | 30,000 | ||||
Impairment of inventory | (27,336) | (27,336) | ||||
Total Other Income (expense) | (27,336) | 267,228 | (27,336) | 771,364 | ||
Income (Loss) before taxes | (439,581) | 136,756 | (507,100) | 512,003 | ||
Provision for income taxes | ||||||
Net Income (Loss) | $ (439,581) | $ (67,519) | $ 136,756 | $ 375,247 | $ (507,100) | $ 512,003 |
Net Income (Loss) Per Share - Basic | $ (0.01) | $ 0 | $ (0.01) | $ 0.01 | ||
Net Income (Loss) Per Share - Diluted | $ (0.01) | $ 0 | $ (0.01) | $ 0.01 | ||
Weighted Average Common Shares - Basic | 72,035,657 | 91,163,569 | 71,747,878 | 91,163,569 | ||
Weighted Average Common Shares - Diluted | 72,035,657 | 91,163,569 | 71,747,878 | 91,163,569 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Subscriptions Received Shares To Be Issued [Member] | Total | |
Balance at Dec. 31, 2021 | $ 9 | $ 22,004,077 | $ (15,687,151) | $ 6,316,935 | ||
Balance, shares at Dec. 31, 2021 | 91,163,569 | |||||
Common stock issued on subscription received | 100,000 | 100,000 | ||||
Net income (loss) | 375,247 | 375,247 | ||||
Balance at Mar. 31, 2022 | $ 9 | 22,004,077 | (15,311,904) | 100,000 | 6,792,182 | |
Balance, shares at Mar. 31, 2022 | 91,163,569 | |||||
Balance at Dec. 31, 2021 | $ 9 | 22,004,077 | (15,687,151) | 6,316,935 | ||
Balance, shares at Dec. 31, 2021 | 91,163,569 | |||||
Net income (loss) | 512,003 | |||||
Balance at Jun. 30, 2022 | [1] | $ 9 | 22,004,077 | (15,175,148) | 150,000 | 6,978,938 |
Balance, shares at Jun. 30, 2022 | [1] | 91,163,569 | ||||
Balance at Mar. 31, 2022 | $ 9 | 22,004,077 | (15,311,904) | 100,000 | 6,792,182 | |
Balance, shares at Mar. 31, 2022 | 91,163,569 | |||||
Common stock issued on subscription received | 50,000 | 50,000 | ||||
Net income (loss) | 136,756 | 136,756 | ||||
Balance at Jun. 30, 2022 | [1] | $ 9 | 22,004,077 | (15,175,148) | 150,000 | 6,978,938 |
Balance, shares at Jun. 30, 2022 | [1] | 91,163,569 | ||||
Balance at Dec. 31, 2022 | $ 7 | 22,004,079 | (23,538,764) | 150,000 | (1,384,678) | |
Balance, shares at Dec. 31, 2022 | 71,163,569 | |||||
Common stock issued on subscription received | 150,000 | (150,000) | ||||
Common stock issued on subscription received, shares | 600,000 | |||||
Net income (loss) | (67,519) | (67,519) | ||||
Balance at Mar. 31, 2023 | [2] | $ 7 | 22,154,079 | (23,606,283) | (1,452,197) | |
Balance, shares at Mar. 31, 2023 | [2] | 71,763,569 | ||||
Balance at Dec. 31, 2022 | $ 7 | 22,004,079 | (23,538,764) | 150,000 | (1,384,678) | |
Balance, shares at Dec. 31, 2022 | 71,163,569 | |||||
Net income (loss) | (507,100) | |||||
Balance at Jun. 30, 2023 | $ 7 | 22,239,079 | (24,045,864) | (1,806,778) | ||
Balance, shares at Jun. 30, 2023 | 73,103,569 | |||||
Balance at Mar. 31, 2023 | [2] | $ 7 | 22,154,079 | (23,606,283) | (1,452,197) | |
Balance, shares at Mar. 31, 2023 | [2] | 71,763,569 | ||||
Net income (loss) | (439,581) | (439,581) | ||||
Common stock issued for cash | 85,000 | 85,000 | ||||
Common stock issued for cash, shares | 340,000 | |||||
Common stock issued for acquisition of corporation under common control | ||||||
Common stock issued for acquisition of corporation under common control, shares | 1,000,000 | |||||
Balance at Jun. 30, 2023 | $ 7 | $ 22,239,079 | $ (24,045,864) | $ (1,806,778) | ||
Balance, shares at Jun. 30, 2023 | 73,103,569 | |||||
[1]Retrospectively reflect Pineapple Wellness accounts under pooling-of-interest method[2]Retrospectively reflect Pineapple Wellness accounts under pooling-of-interest method |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash Flows from Operating Activities | ||
Net Income (Loss) | $ (507,100) | $ 512,003 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Impairment of inventory | 27,336 | |
Depreciation of property and equipment | 2,358 | 3,196 |
Income from equity-method investment | (741,364) | |
Gain on forgiveness of related party note payable | (30,000) | |
Changes in operating assets and liabilities: | ||
Inventory | (4,059) | |
Lease receivable – related parties | (52,500) | |
Security deposits | (270,278) | |
Right-of-use assets | 236,908 | |
Accounts payable and accrued liabilities | 429 | 26,288 |
Accounts payable related party | 35,750 | |
Operating lease liabilities | (97,666) | |
Due to affiliates | 602,463 | 95,891 |
Net cash used in operating activities | (58,050) | (102,295) |
Cash Flows from Financing Activities | ||
Proceeds from related parties | 7,600 | |
Repayment to related parties | (33,041) | |
Proceeds from issuance of common stock | 85,000 | |
Proceeds from stock subscription | 150,000 | |
Proceeds from related party notes payable | 4,295 | |
Repayments of related party notes payable | (52,000) | |
Net cash provided by financing activities | 59,559 | 102,295 |
Net Change in Cash | 1,509 | |
Cash, Beginning of Period | ||
Cash, End of Period | 1,509 | |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid for interest | ||
Cash paid for taxes | ||
Supplemental Disclosures of Non-Cash Financing Activities | ||
Recognition of right-of-use assets | 6,477,405 | |
Common stock issued on subscription received | 150,000 | |
Common stock issued for acquisition of subsidiary under common control | $ 900,000 |
Organization and Description of
Organization and Description of Business | 6 Months Ended |
Jun. 30, 2023 | |
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 August 3, 1983 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 2,000,000 0.0000001 10 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 45.17 10,787,652 On September 28 th 100 10,000 100 376,287 10,000 386,287 On March 10, 2023, the Company entered into an Amended Binding Letter of Intent effective as of December 31, 2022 with Mr. Ortega, amending the prior Letter of Intent executed January 4, 2023, where the Company agreed to sell 45.17 20,000,000 0.0000001 On June 12, 2023, Pineapple, Inc., a Nevada corporation (the “Company”) entered into an Amendment to the Letter of Intent, by and between the Company and Matthew Feinstein (the “Amended LOI”), which amends the Letter of Intent, dated September 28, 2022. Pursuant to the Amended LOI, the Company shall acquire 100 % of the issued and outstanding shares of the common stock of Pineapple Wellness, Inc., a California corporation (“PW”) from Matthew Feinstein, the Chief Financial Officer, Director and shareholder of the Company and also the sole shareholder of PW, in exchange for 1,000,000 shares of the Company’s common stock. Presently, the Company procures and leases properties to licensed cannabis operators and provides nationwide hemp-derived CBD sales via online and in-store transactions. Through the Company’s operating subsidiary, Pineapple Express Consulting Inc., it also offers cannabis business licensing and consulting services. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2 – Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed 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 5, 2023. 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. and Pineapple Wellness, Inc., doing business as Pineapple Wellness. Intercompany accounts and transactions have been eliminated. The Company’s consolidated subsidiaries and/or entities are as follows: Schedule of Consolidated Subsidiaries and/or Entities Name of Consolidated State or Other Date of Incorporation or Attributable THC Industries, LLC California 12/23/2015 (formed) 100 % Pineapple Express Consulting, Inc. California 3/16/2017 100 % Pineapple Wellness, Inc. California 6/24/2019 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, Incremental borrowing rate (“IBR”) used for leases and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. (Note 12) 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. Acquisition Under Common Control Under ASC 805-50-30-5, when accounting for a transfer of assets or exchange of shares between entities under common control, the receiving entity recognize the assets and liabilities transferred at their historical cost and combine the accounts under pooling-of interest method on a retroactive basis. Cash and Cash Equivalents Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. As of June 30, 2023 and December 31, 2022, the Company has no 1,509 0 Security Deposits As of June 30, 2023, security deposit relates to security deposit paid for seven office premises of $ 270,278 . Inventory Inventory is stated at lower of cost or net realizable value, with cost being determined on the first-in, first-out (“FIFO”) method. During the six months ended June 30, 2023 and 2022, the Company recorded inventory impairment of $ 27,336 0 27,336 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 Investment – Equity Method The Company accounted for its equity method investment (“PVI”) 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 investment 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 December 31, 2022, management has identified indicators of other-than-temporary impairment that have led to the conclusion that the carrying value of its equity method investment is not recoverable. As a result, the Company has recorded an impairment write-down in the consolidated statements of operations for the year ended December 31, 2022. During the six months ended June 30, 2023 and June 30, 2022, the Company recognized income from equity method investment of $ 0 741,364 Related Party Balances and Transactions The Company follows FASB ASC 850, “ Related Party Disclosures Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities - current, and operating lease liabilities - noncurrent on the balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease expense is reported under cost of sales in the Consolidated Statements of Operations in line with the Company’s main operation of procuring and leasing properties to licensed cannabis operators. Sublease Under ASC 842, i Revenue Recognition The Company’s revenue derives from sublease revenue and sales of CBD products. The Company recognizes revenue from the sale of CBD products in accordance with ASC 606, “ Revenue Recognition Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations For the six months ended June 30, 2023 and 2022, the Company recognized revenue from the sale of CBD products of $ 0 822 0 488 0 334 The Company recognizes revenue from subleasing of office premises in accordance with ASC842, “Lease Accounting”. For the six months ended June 30, 2023 and 2022, the Company recognized sublease revenue from related parties of $ 52,500 0 323,134 0 270,634 0 Net 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 June 30, 2023 and December 31, 2022, the Company had no no Recently Adopted and Pending Accounting Pronouncements In June 2022, the FASB issued ASU 2022-03, ASC Subtopic “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements. |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 3 – Going Concern The Company’s 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 consolidated financial statements, the Company has an accumulated deficit of $ 24,045,864 507,100 The Company has incurred net losses during the six months ended June 30, 2023 and in all prior years. These factors raise substantial doubt about the Company’s ability to continue as a going concern within one year from the date that the consolidated financial statements are issued. The Company’s 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. 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. |
Property and Equipment
Property and Equipment | 6 Months Ended |
Jun. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Note 4 – Property and Equipment Property and equipment as of June 30, 2023 and December 31, 2022 is summarized as follows: Schedule of Property and Equipment June 30, 2023 December 31, 2022 Furniture and fixtures $ 43,152 $ 43,152 Office equipment 12,321 12,321 Total property and equipment 55,473 55,473 Less: Accumulated depreciation (55,473 ) (53,115 ) Total property and equipment, net $ - $ 2,358 Depreciation expense for the six months ended June 30, 2023 and 2022 was $ 2,358 3,196 |
Notes Payable, Related Party
Notes Payable, Related Party | 6 Months Ended |
Jun. 30, 2023 | |
Notes Payable Related Party | |
Notes Payable, Related Party | Note 5 – Notes Payable, Related Party Notes payable-related party, are comprised of the following as of June 30, 2023 and December 31, 2022: Schedule of Notes Payable Related Party Transactions Noteholder Due Interest Rate Secured June 30, December 31, Rob Novinger Demand 0 % No $ 30,851 $ 30,851 Neu-Ventures, Inc. Demand 0 % No $ 15,882 $ 15,882 $ 46,733 $ 46,733 Rob Novinger (shareholder) Rob Novinger is a shareholder and creditor to the Company. There was no months 30,851 Neu-Ventures, Inc. (The owner is the largest shareholder of the Company) Neu-Ventures, Inc. is an entity owned by our former majority shareholder, Mr. Ortega. These advances are due on demand and do not incur interest. The balance of the related party note payable is $ 15,882 |
Note Payable
Note Payable | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Note Payable | Note 6 – Note Payable The Company, through our former subsidiary, BBC, entered into a $ 25,000 26,609 19,838 6,771 |
Settlement Payable-Related Part
Settlement Payable-Related Party | 6 Months Ended |
Jun. 30, 2023 | |
Settlement Payable-related Party | |
Settlement Payable-Related Party | Note 7 – Settlement Payable-Related Party At June 30, 2023 and December 31, 2022, the settlement payable related party balance consists of the following: Schedule of Settlement Payable Related Party Noteholder June 30, 2023 December 31, 2022 Investor Three 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 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 8 – Related Party Transactions During the six months ended June 30, 2023 and 2022, the Company recognized sublease revenue of $ 17,500 and recorded sublease receivable of $ 17,500 for an office premise located in 8912 Reseda Blvd, Northridge, CA 91324 in pursuant to sublease agreement entered with a cannabis company who is affiliated with the Director of Pineapple, Inc. (Note 9) During the six months ended June 30, 2023 and 2022, the Company recognized sublease revenue of $ 35,000 35,000 During the six months ended June 30, 2023 and 2022, the Company incurred management consulting fees of $ 150,000 118,000 During the six months ended June 30, 2023, Pineapple Consolidated, Inc. (“PCI”), a company controlled by the Director of Pineapple, Inc., advanced $ 7,600 to the Company, made lease payment, security deposit payment, management consulting fees and other operating expenses of $ 628,463 on behalf of the Company and was repaid for $ 33,041 . During the six months ended June 30, 2023, the amount due to PCI was also repaid through $ 50,000 553,022 and $ 0 , respectively. During the six months ended June 30, 2023, Pineapple Ventures, Inc. (“PVI”) made lease payment of 24,000 45,456 21,456 The loans from the related parties are due on demand and non-interest bearing. As of June 30, 2023 and December 31, 2022, the total amount due to affiliates is $ 598,478 and $ 21,456 , respectively. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2023 | |
Leases | |
Leases | Note 9 – Leases As of June 30, 2023 and December 31, 2022, the Company had the following lease obligations: Schedule of Operating Lease Liability Discount June 30, December 31, Rate Maturity 2023 2022 Current 6.50 % 2027 $ 1,042,093 $ - Non-current 6.50 % 2027 5,337,643 - $ 6,379,736 $ - Balance - December 31, 2022 $ - Lease liability additions 6,477,405 Repayment of Lease liability (183,894 ) Imputed interest 86,225 Balance - June 30, 2023 $ 6,379,736 On January 11, 2023, the Company entered into a lease agreement for an office premise located in 8912 Reseda Blvd, Northridge, CA 91324 under a five 12,000 five 72,000 563,563 563,563 On March 10, 2023, the Company entered into a lease agreement for an office premise located in 8707 Venice Blvd, Los Angeles, CA 90034 under a five 5,000 4 15,000 10,000 496,726 502,401 On May 1, 2023, the Company entered into a lease agreement for an office premise located in 467 S.La Brea Ave., Los Angeles, CA 90036 under a five -year term and monthly lease payment of $ 18,999 . The lease agreement commenced on May 1, 2023 and provides with lease abatement for the first two months. As of June 30, 2023, the right-of-use asset was $ 966,508 1,005,589 On April 10, 2023, the Company entered into a lease agreement for an office premise located in 8342-8344 West 3rd St Los Angeles CA 90048 under a five -year term and monthly lease payment of $ 19,000 with annual escalation rate of 4 %. The lease agreement commenced on May 1, 2023 and provides with lease abatement for the first three months. During the six months ended June 30, 2023, the Company made lease prepayment of $ 19,000 967,126 987,480 On April 1, 2023, the Company was assigned from Pineapple Ventures, Inc. (“PVI”) for lease obligation for an office premise located in 7542-7544 Balboa Blvd. Lake Balboa, CA under monthly lease payment of $ 23,000 with annual escalation rate of 5 % and will expire on October 14, 2027. During the six months ended June 30, 2023, the Company made lease payment of $ 37,500 1,041,629 1,073,789 On May 15, 2023, the Company entered into a lease agreement for an office premise located in 1485 W. Sunset Blvd., Los Angeles, CA under a 90 months term and monthly lease payment of $ 20,280 with annual escalation rate of 3 1,439,194 1,481,254 On June 1, 2023, the Company was assigned from Pineapple Ventures, Inc. (“PVI”) for lease obligation for an office premise located in 1704 N. Vine St. Unit 102 Hollywood CA 90028 with monthly lease payment of $ 30,394 September 30, 2025 30,394 765,661 765,661 The following table summarizes the maturity of our lease liabilities as of June 30, 2023: Schedule of Maturity of Lease Liabilities Year Ended December 31, 2023 $ 615,918 2024 1,625,033 2025 1,575,862 2026 1,345,984 2027 1,335,460 Thereafter 1,022,528 Total lease payments 7,520,785 Less: imputed interests (1,141,049 ) Lease liabilities $ 6,379,736 The following summarizes other supplemental information about the Company’s operating lease as of June 30, 2023: Schedule of Supplemental Information Weighted average discount rate 6.50 Weighted average remaining lease term (years) 4.7 As of June 30, 2023, the Company has right-of-use assets as follows: Schedule of Right-of-Use Assets Balance - December 31, 2022 $ - Additions 6,477,405 Less: Amortization (236,908 ) Balance - June 30, 2023 $ 6,240,497 During the six months ended June 30, 2023, the Company incurred lease expense of $ 323,134 reported under cost of sales in the Consolidated Statements of Operations as all the leased office premises will be subleased by Q3 ended September 30, 2023. Sublease On January 15, 2023, the Company, the sublessor, entered into a sub-lease agreement with a sublessee for an office premise located in 8912 Reseda Blvd, Northridge, CA 91324 under a five -year term and monthly lease payment of $ 16,000 . The sub-lease was effective on January 15, 2023 with the lease commencement date of January 1, 2023. The sub-lease agreement provides with rent abatement to the sublessee for the first three months from January to March 2023. As of June 30, 2023, the office premise is under construction which is planned to be completed in September 2023. (Note 8) On June 1, 2023, the Company was assigned from Pineapple Ventures, Inc. (“PVI”) sub-lease agreement with a sublessee for an office premise located in 1704 N.Vine St. Unit 102 Hollywood CA 90028. The sublease agreement will expire on December 31, 2023 35,000 During the six months ended June 30, 2023, the Company recognized sublease revenue from related parties of $ 52,500 52,500 |
Advances on Agreements
Advances on Agreements | 6 Months Ended |
Jun. 30, 2023 | |
Advances On Agreements | |
Advances on Agreements | Note 10 – Advances on Agreements At June 30, 2023 and December 31, 2022, advances on agreements balance consist of the following: Schedule of Advance on Agreement Noteholder June 30, 2023 December 31, 2022 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 | 6 Months Ended |
Jun. 30, 2023 | |
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 During the six months ended June 30, 2023, the Company issued 600,000 150,000 During the six months ended June 30, 2023, the Company issued 340,000 shares of common stock for cash proceeds of $ 85,000 of which proceeds of $ 50,000 On June 12, 2023, the Company issued 1,000,000 0.90 100 During the six months ended June 30, 2022, the Company received proceeds from stock subscriptions of $ 150,000 400,000 0.25 As of June 30, 2023 and December 31, 2022, the issued and outstanding common stock was 73,103,569 71,163,569 |
Acquisition Under Common Contro
Acquisition Under Common Control | 6 Months Ended |
Jun. 30, 2023 | |
Acquisition Under Common Control | |
Acquisition Under Common Control | Note 12 – Acquisition Under Common Control On June 12, 2023, the Company issued 1,000,000 a California corporation controlled by Matthew Feinstein who serves as the Chief Financial Officer, Director and Shareholder of PW. Pooling-of-interest method was adopted for the merging of PW accounts to the Company’s accounts at historical cost on a retroactive basis commencing from the date of inception at June 24, 2019. The Company’s Consolidated Balance Sheet as of December 31, 2022, Statement of Operations for the three months and six months ended December 31, 2022, Statement of Cash Flow for the six months ended June 30, 2022 and Statement of Shareholders’ Deficit for the six months ended June 30, 2022 contain retrospective presentation for the consolidation of Pineapple Wellness accounts from its date of inception with the Company’s accounts resulted from the acquisition of the entity under common control on June 12, 2023. (Note 1) Schedule of Restatement of Consolidated Balance Sheets and Operations Originally Reported Common Control As Restated December 31, 2022 Acquired Entry Under Originally Reported Common Control As Adjusted Assets Current Assets: Cash $ - $ - $ - Prepaid expense - - - Lease receivable - - - Inventory - 27,336 27,336 Total Current Assets - 27,336 27,336 Security deposits - - Property and equipment, net 2,358 - 2,358 Operating lease right-of-use assets, net - - - Total Assets $ 2,358 $ 27,336 $ 29,694 Liabilities and Stockholders’ Deficit Current Liabilities: Accounts payable and accrued liabilities $ 398,489 $ 62 $ 398,551 Accounts payable - related party 31,500 - 31,500 Accrued interest payable 6,771 - 6,771 Settlement payable - related party 615,000 - 615,000 Due to affiliates - 21,456 21,456 Notes payable-related party 30,851 15,882 46,733 Notes payable 19,838 - 19,838 Advances on agreements 169,000 - 169,000 Contingent liabilities 105,523 - 105,523 Operating lease liability - - - Total Current Liabilities 1,376,972 37,400 1,414,372 Operating lease liability, non-current - - - Total Liabilities 1,376,972 37,400 1,414,372 Commitments and contingencies (note 13) - - - Stockholders’ Deficit: Preferred stock, $ 0.0000001 20,000,000 - - - Series A Convertible Preferred stock, $ 0.0000001 5,000,000 - - - Preferred stock value - - - Common stock, $ 0.0000001 500,000,000 71,163,569 7 - 7 Subscription received – shares to be issued 150,000 - 150,000 Additional paid-in-capital 22,004,079 - 22,004,079 Accumulated deficit (23,528,700 ) (10,064 ) (23,538,764 ) Total Stockholders’ Deficit (1,374,614 ) (10,064 ) (1,384,678 ) Total Liabilities and Stockholders’ Deficit $ 2,358 $ 27,336 $ 29,694 Originally Reported Common Control As Restated Originally Reported Common Control As Restated For the Three Months Ended For the Six Months Ended Acquired Entry Under Acquired Entry Under Originally Reported Common Control As Adjusted Originally Reported Common Control As Adjusted Revenue Sublease revenue $ - $ - $ - $ - $ - $ - Sales revenue - 640 640 - 822 822 Cost of sales - 336 336 - 488 488 Gross Profit - 304 304 - 334 334 Operating Expenses General and administrative 69,142 1,036 70,178 137,463 1,036 138,499 Lease expense - - - - - - Management consulting fees - related parties 59,000 - 59,000 118,000 - 118,000 Depreciation 1,598 - 1,598 3,196 - 3,196 Total Operating Expenses 129,740 1,036 130,776 258,659 1,036 259,695 Operating loss (129,740 ) (732 ) (130,472 ) (258,659 ) (702 ) (259,361 ) Other Income Income from equity-method investment 237,228 - 237,228 741,364 - 741,364 Gain on forgiveness of related party note payable 30,000 - 30,000 30,000 - 30,000 Impairment of inventory - - - - - - Total Other Income 267,228 - 267,228 771,364 - 771,364 Income (Loss) before taxes 137,488 (732 ) 136,756 512,705 (702 ) 512,003 Provision for income taxes - - - - - - Net Income (Loss) $ 137,488 $ (732 ) $ 136,756 $ 512,705 $ (702 ) $ 512,003 Net Income (Loss) Per Share – Basic and Diluted $ 0.00 $ 0.00 $ 0.01 $ 0.01 Net Income (Loss) Per Share – Basic $ 0.00 $ 0.00 $ 0.01 $ 0.01 Weighted Average Common Shares – Basic and Diluted 91,163,569 91,163,569 91,163,569 91,163,569 Weighted Average Common Shares – Basic 91,163,569 91,163,569 91,163,569 91,163,569 Originally Reported Common Control As Restated For the Six Months Ended June 30, 2022 Acquired Entry Under Originally Reported Common Control As Adjusted Cash Flows from Operating Activities Net Income $ 512,705 $ (702 ) $ 512,003 Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation of property and equipment 3,196 - 3,196 Income from equity-method investment (741,364 ) - (741,364 ) Gain on forgiveness of related party note payable (30,000 ) - (30,000 ) Changes in operating assets and liabilities: Inventory - (4,059 ) (4,059 ) Accounts payable and accrued liabilities 26,351 (63 ) 26,288 Accounts payable related party 35,750 - 35,750 Due to affiliates 91,177 4,714 95,891 Net cash used in operating activities (102,185 ) (110 ) (102,295 ) Cash Flows from Financing Activities Proceeds from stock subscription 150,000 - 150,000 Proceeds from related party notes payable 4,185 110 4,295 Repayments of related party notes payable (52,000 ) - (52,000 ) Net cash provided by financing activities 102,185 110 102,295 Net Change in Cash - - - Cash, Beginning of Period - - - Cash, End of Period $ - $ - $ - Supplemental Disclosures of Cash Flow Information Cash paid for interest $ - $ - $ - Cash paid for taxes $ - $ - $ - |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 13 – 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: 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 $ 47,684 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 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 14 – Subsequent Events Subsequent to June 30, 2023, and through the date that these financials were issued, the Company had the following subsequent events: On May 23, 2023, the Company entered into a lease agreement for an office premise located in 19841 Ventura Blvd. Woodland Hills CA 91364 under a 66 month term and monthly lease payment of $ 10,665 . The lease obligation will commence on July 1, 2023. On June 6, 2023, the Company entered into a lease agreement for an office premise located in 2378 Westwood Boulevard, Los Angeles CA 90064 under a five 13,325 On September 11, 2023, the Company received April 2023 sublease payment of $ 17,500 SUPPLEMENTARY DATA The Company is a smaller reporting Company as defined by Rule 12b-2 of the Exchange Act and is not required to provide the information required under this item. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed 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 5, 2023. 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. and Pineapple Wellness, Inc., doing business as Pineapple Wellness. Intercompany accounts and transactions have been eliminated. The Company’s consolidated subsidiaries and/or entities are as follows: Schedule of Consolidated Subsidiaries and/or Entities Name of Consolidated State or Other Date of Incorporation or Attributable THC Industries, LLC California 12/23/2015 (formed) 100 % Pineapple Express Consulting, Inc. California 3/16/2017 100 % Pineapple Wellness, Inc. California 6/24/2019 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, Incremental borrowing rate (“IBR”) used for leases and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates. |
Reclassifications | Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. (Note 12) |
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. |
Acquisition Under Common Control | Acquisition Under Common Control Under ASC 805-50-30-5, when accounting for a transfer of assets or exchange of shares between entities under common control, the receiving entity recognize the assets and liabilities transferred at their historical cost and combine the accounts under pooling-of interest method on a retroactive basis. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with maturities of less than three months from inception, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. As of June 30, 2023 and December 31, 2022, the Company has no 1,509 0 |
Security Deposits | Security Deposits As of June 30, 2023, security deposit relates to security deposit paid for seven office premises of $ 270,278 . |
Inventory | Inventory Inventory is stated at lower of cost or net realizable value, with cost being determined on the first-in, first-out (“FIFO”) method. During the six months ended June 30, 2023 and 2022, the Company recorded inventory impairment of $ 27,336 0 27,336 |
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 |
Investment – Equity Method | Investment – Equity Method The Company accounted for its equity method investment (“PVI”) 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 investment 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 December 31, 2022, management has identified indicators of other-than-temporary impairment that have led to the conclusion that the carrying value of its equity method investment is not recoverable. As a result, the Company has recorded an impairment write-down in the consolidated statements of operations for the year ended December 31, 2022. During the six months ended June 30, 2023 and June 30, 2022, the Company recognized income from equity method investment of $ 0 741,364 |
Related Party Balances and Transactions | Related Party Balances and Transactions The Company follows FASB ASC 850, “ Related Party Disclosures |
Leases | Leases We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liabilities - current, and operating lease liabilities - noncurrent on the balance sheets. Finance leases are included in property and equipment, other current liabilities, and other long-term liabilities in our balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease expense is reported under cost of sales in the Consolidated Statements of Operations in line with the Company’s main operation of procuring and leasing properties to licensed cannabis operators. Sublease Under ASC 842, i |
Revenue Recognition | Revenue Recognition The Company’s revenue derives from sublease revenue and sales of CBD products. The Company recognizes revenue from the sale of CBD products in accordance with ASC 606, “ Revenue Recognition Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations For the six months ended June 30, 2023 and 2022, the Company recognized revenue from the sale of CBD products of $ 0 822 0 488 0 334 The Company recognizes revenue from subleasing of office premises in accordance with ASC842, “Lease Accounting”. For the six months ended June 30, 2023 and 2022, the Company recognized sublease revenue from related parties of $ 52,500 0 323,134 0 270,634 0 |
Net Income (Loss) Per Share | Net 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 June 30, 2023 and December 31, 2022, the Company had no no |
Recently Adopted and Pending Accounting Pronouncements | Recently Adopted and Pending Accounting Pronouncements In June 2022, the FASB issued ASU 2022-03, ASC Subtopic “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Consolidated Subsidiaries and/or Entities | The Company’s consolidated subsidiaries and/or entities are as follows: Schedule of Consolidated Subsidiaries and/or Entities Name of Consolidated State or Other Date of Incorporation or Attributable THC Industries, LLC California 12/23/2015 (formed) 100 % Pineapple Express Consulting, Inc. California 3/16/2017 100 % Pineapple Wellness, Inc. California 6/24/2019 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) | 6 Months Ended |
Jun. 30, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment as of June 30, 2023 and December 31, 2022 is summarized as follows: Schedule of Property and Equipment June 30, 2023 December 31, 2022 Furniture and fixtures $ 43,152 $ 43,152 Office equipment 12,321 12,321 Total property and equipment 55,473 55,473 Less: Accumulated depreciation (55,473 ) (53,115 ) Total property and equipment, net $ - $ 2,358 |
Notes Payable, Related Party (T
Notes Payable, Related Party (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notes Payable Related Party | |
Schedule of Notes Payable Related Party Transactions | Notes payable-related party, are comprised of the following as of June 30, 2023 and December 31, 2022: Schedule of Notes Payable Related Party Transactions Noteholder Due Interest Rate Secured June 30, December 31, Rob Novinger Demand 0 % No $ 30,851 $ 30,851 Neu-Ventures, Inc. Demand 0 % No $ 15,882 $ 15,882 $ 46,733 $ 46,733 |
Settlement Payable-Related Pa_2
Settlement Payable-Related Party (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Settlement Payable-related Party | |
Schedule of Settlement Payable Related Party | At June 30, 2023 and December 31, 2022, the settlement payable related party balance consists of the following: Schedule of Settlement Payable Related Party Noteholder June 30, 2023 December 31, 2022 Investor Three 615,000 615,000 Settlement payable $ 615,000 $ 615,000 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Leases | |
Schedule of Operating Lease Liability | Schedule of Operating Lease Liability Discount June 30, December 31, Rate Maturity 2023 2022 Current 6.50 % 2027 $ 1,042,093 $ - Non-current 6.50 % 2027 5,337,643 - $ 6,379,736 $ - Balance - December 31, 2022 $ - Lease liability additions 6,477,405 Repayment of Lease liability (183,894 ) Imputed interest 86,225 Balance - June 30, 2023 $ 6,379,736 |
Schedule of Maturity of Lease Liabilities | The following table summarizes the maturity of our lease liabilities as of June 30, 2023: Schedule of Maturity of Lease Liabilities Year Ended December 31, 2023 $ 615,918 2024 1,625,033 2025 1,575,862 2026 1,345,984 2027 1,335,460 Thereafter 1,022,528 Total lease payments 7,520,785 Less: imputed interests (1,141,049 ) Lease liabilities $ 6,379,736 |
Schedule of Supplemental Information | The following summarizes other supplemental information about the Company’s operating lease as of June 30, 2023: Schedule of Supplemental Information Weighted average discount rate 6.50 Weighted average remaining lease term (years) 4.7 |
Schedule of Right-of-Use Assets | As of June 30, 2023, the Company has right-of-use assets as follows: Schedule of Right-of-Use Assets Balance - December 31, 2022 $ - Additions 6,477,405 Less: Amortization (236,908 ) Balance - June 30, 2023 $ 6,240,497 |
Advances on Agreements (Tables)
Advances on Agreements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Advances On Agreements | |
Schedule of Advance on Agreement | At June 30, 2023 and December 31, 2022, advances on agreements balance consist of the following: Schedule of Advance on Agreement Noteholder June 30, 2023 December 31, 2022 Investor One and Investor Two 169,000 169,000 Advances on Agreements $ 169,000 $ 169,000 |
Acquisition Under Common Cont_2
Acquisition Under Common Control (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Acquisition Under Common Control | |
Schedule of Restatement of Consolidated Balance Sheets and Operations | Schedule of Restatement of Consolidated Balance Sheets and Operations Originally Reported Common Control As Restated December 31, 2022 Acquired Entry Under Originally Reported Common Control As Adjusted Assets Current Assets: Cash $ - $ - $ - Prepaid expense - - - Lease receivable - - - Inventory - 27,336 27,336 Total Current Assets - 27,336 27,336 Security deposits - - Property and equipment, net 2,358 - 2,358 Operating lease right-of-use assets, net - - - Total Assets $ 2,358 $ 27,336 $ 29,694 Liabilities and Stockholders’ Deficit Current Liabilities: Accounts payable and accrued liabilities $ 398,489 $ 62 $ 398,551 Accounts payable - related party 31,500 - 31,500 Accrued interest payable 6,771 - 6,771 Settlement payable - related party 615,000 - 615,000 Due to affiliates - 21,456 21,456 Notes payable-related party 30,851 15,882 46,733 Notes payable 19,838 - 19,838 Advances on agreements 169,000 - 169,000 Contingent liabilities 105,523 - 105,523 Operating lease liability - - - Total Current Liabilities 1,376,972 37,400 1,414,372 Operating lease liability, non-current - - - Total Liabilities 1,376,972 37,400 1,414,372 Commitments and contingencies (note 13) - - - Stockholders’ Deficit: Preferred stock, $ 0.0000001 20,000,000 - - - Series A Convertible Preferred stock, $ 0.0000001 5,000,000 - - - Preferred stock value - - - Common stock, $ 0.0000001 500,000,000 71,163,569 7 - 7 Subscription received – shares to be issued 150,000 - 150,000 Additional paid-in-capital 22,004,079 - 22,004,079 Accumulated deficit (23,528,700 ) (10,064 ) (23,538,764 ) Total Stockholders’ Deficit (1,374,614 ) (10,064 ) (1,384,678 ) Total Liabilities and Stockholders’ Deficit $ 2,358 $ 27,336 $ 29,694 Originally Reported Common Control As Restated Originally Reported Common Control As Restated For the Three Months Ended For the Six Months Ended Acquired Entry Under Acquired Entry Under Originally Reported Common Control As Adjusted Originally Reported Common Control As Adjusted Revenue Sublease revenue $ - $ - $ - $ - $ - $ - Sales revenue - 640 640 - 822 822 Cost of sales - 336 336 - 488 488 Gross Profit - 304 304 - 334 334 Operating Expenses General and administrative 69,142 1,036 70,178 137,463 1,036 138,499 Lease expense - - - - - - Management consulting fees - related parties 59,000 - 59,000 118,000 - 118,000 Depreciation 1,598 - 1,598 3,196 - 3,196 Total Operating Expenses 129,740 1,036 130,776 258,659 1,036 259,695 Operating loss (129,740 ) (732 ) (130,472 ) (258,659 ) (702 ) (259,361 ) Other Income Income from equity-method investment 237,228 - 237,228 741,364 - 741,364 Gain on forgiveness of related party note payable 30,000 - 30,000 30,000 - 30,000 Impairment of inventory - - - - - - Total Other Income 267,228 - 267,228 771,364 - 771,364 Income (Loss) before taxes 137,488 (732 ) 136,756 512,705 (702 ) 512,003 Provision for income taxes - - - - - - Net Income (Loss) $ 137,488 $ (732 ) $ 136,756 $ 512,705 $ (702 ) $ 512,003 Net Income (Loss) Per Share – Basic and Diluted $ 0.00 $ 0.00 $ 0.01 $ 0.01 Net Income (Loss) Per Share – Basic $ 0.00 $ 0.00 $ 0.01 $ 0.01 Weighted Average Common Shares – Basic and Diluted 91,163,569 91,163,569 91,163,569 91,163,569 Weighted Average Common Shares – Basic 91,163,569 91,163,569 91,163,569 91,163,569 Originally Reported Common Control As Restated For the Six Months Ended June 30, 2022 Acquired Entry Under Originally Reported Common Control As Adjusted Cash Flows from Operating Activities Net Income $ 512,705 $ (702 ) $ 512,003 Adjustments to reconcile net income (loss) to net cash used in operating activities: Depreciation of property and equipment 3,196 - 3,196 Income from equity-method investment (741,364 ) - (741,364 ) Gain on forgiveness of related party note payable (30,000 ) - (30,000 ) Changes in operating assets and liabilities: Inventory - (4,059 ) (4,059 ) Accounts payable and accrued liabilities 26,351 (63 ) 26,288 Accounts payable related party 35,750 - 35,750 Due to affiliates 91,177 4,714 95,891 Net cash used in operating activities (102,185 ) (110 ) (102,295 ) Cash Flows from Financing Activities Proceeds from stock subscription 150,000 - 150,000 Proceeds from related party notes payable 4,185 110 4,295 Repayments of related party notes payable (52,000 ) - (52,000 ) Net cash provided by financing activities 102,185 110 102,295 Net Change in Cash - - - Cash, Beginning of Period - - - Cash, End of Period $ - $ - $ - Supplemental Disclosures of Cash Flow Information Cash paid for interest $ - $ - $ - Cash paid for taxes $ - $ - $ - |
Organization and Description _2
Organization and Description of Business (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 12, 2023 | Sep. 28, 2022 | Jan. 17, 2020 | Mar. 19, 2019 | Sep. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Feb. 11, 2021 | Feb. 10, 2021 | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Entity state of incorporation | NV | ||||||||
Entity date of incorporation | Aug. 03, 1983 | ||||||||
Preferred stock, par value | $ 0.00 | $ 0.00 | |||||||
Exchange for forgiveness | $ 10,000 | ||||||||
Decrease in accounts payable | 376,287 | ||||||||
Decrease in notes payable | $ 10,000 | ||||||||
Gain on sale of subsidiary | $ 386,287 | ||||||||
Purchase price | 20,000,000 | ||||||||
Common stock par value | 0.00 | $ 0.00 | |||||||
Mr. Ortega [Member] | Pineapple Ventures, Inc. [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Ownership interest | 45.17% | ||||||||
Mr. Ortega [Member] | Neu-Ventures, Inc. [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Ownership interest | 100% | ||||||||
Pineapple Ventures, Inc. [Member] | Mr. Ortega [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Capital stock shares issued | 10,000 | 4,827 | 10,000 | ||||||
Existing loan cancelled | $ 1,062,000 | ||||||||
Equity method investments shares owned | 45,173 | ||||||||
Equity method impairment | $ 10,787,652 | ||||||||
Pineapple Ventures, Inc. [Member] | Mr. Ortega [Member] | Equity Interest [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Ownership interest | 45.17% | ||||||||
Series A Convertible Preferred Stock [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Preferred stock, par value | $ 0.00 | $ 0.00 | |||||||
Share Exhange Agreement [Member] | Series A Convertible Preferred Stock [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Preferred stock, par value | $ 0.00 | ||||||||
Capital stock shares issued | 10 | ||||||||
Pineapple Ventures, Inc. [Member] | Share Exhange Agreement [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Acquired percentage | 50% | ||||||||
Pineapple Ventures, Inc. [Member] | Share Exhange Agreement [Member] | Series A Convertible Preferred Stock [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Number of shares outstanding | 2,000,000 | ||||||||
Stock issued shares, conversion of convertible securities | 2,000,000 | ||||||||
Convertible preferred stock, shares issued upon conversion | 20,000,000 | ||||||||
Pineapple Ventures, Inc. [Member] | Amended L O I [Member] | |||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||
Acquired percentage | 100% | ||||||||
Number of shares outstanding | 1,000,000 |
Schedule of Consolidated Subsid
Schedule of Consolidated Subsidiaries and/or Entities (Details) | 6 Months Ended |
Jun. 30, 2023 | |
Entity incorporation state country name | NV |
THC Industries, LLC [Member] | |
Name of subsidiary | THC Industries, LLC |
Entity incorporation state country name | CA |
Date of incorporation | 12/23/2015 (formed) 2/16/2016 (acquired by us) |
Minority interest ownership percentage | 100% |
Pineapple Express Consulting, Inc. [Member] | |
Name of subsidiary | Pineapple Express Consulting, Inc. |
Entity incorporation state country name | CA |
Date of incorporation | 3/16/2017 |
Minority interest ownership percentage | 100% |
Pineapple Wellness, Inc. [Member] | |
Name of subsidiary | Pineapple Wellness, Inc. |
Entity incorporation state country name | CA |
Date of incorporation | 6/24/2019 |
Minority interest ownership percentage | 100% |
Schedule of Estimated Useful Li
Schedule of Estimated Useful Lives Property and Equipment (Details) | Jun. 30, 2023 |
Office Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment useful lives | 5 years |
Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and equipment useful lives | 7 years |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Cash equivalents | $ 0 | $ 0 | $ 0 | ||
Cash | 1,509 | 1,509 | |||
Security Deposit | 270,278 | 270,278 | |||
Inventory impairment | 27,336 | 27,336 | |||
Inventory | $ 27,336 | ||||
Income loss from equity method investments | 237,228 | 741,364 | |||
Sales revenue | 640 | 822 | |||
Cost of sales | 336 | 488 | |||
Gross profit excluding sublease revenue | 304 | 334 | |||
Sublease revenue - related parties | 6,900 | 52,500 | |||
Lease expense | 287,134 | 323,134 | |||
Sublease revenue | $ 280,234 | $ 270,634 | |||
Options or Warrants [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities option or warrants | 0 | 0 | |||
Convertible Debt Securities [Member] | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Shares issuable for conversion of notes payable | 0 | 0 | 0 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
Accumulated deficit | $ 24,045,864 | $ 24,045,864 | $ 23,538,764 | ||||
Net loss | $ 439,581 | $ 67,519 | $ (136,756) | $ (375,247) | $ 507,100 | $ (512,003) |
Schedule of Property and Equipm
Schedule of Property and Equipment (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 55,473 | $ 55,473 |
Less: Accumulated depreciation | (55,473) | (53,115) |
Total property and equipment, net | 2,358 | |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 43,152 | 43,152 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 12,321 | $ 12,321 |
Property and Equipment (Details
Property and Equipment (Details Narrative) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation expense | $ 2,358 | $ 3,196 |
Schedule of Notes Payable Relat
Schedule of Notes Payable Related Party Transactions (Details) - Related Party [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Notes payable | $ 46,733 | $ 46,733 |
Rob Novinger [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Due | Demand | Demand |
Debt rate | 0% | 0% |
Debt Instrument, Collateral | No | No |
Notes payable | $ 30,851 | $ 30,851 |
Neu Ventures [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Due | Demand | Demand |
Debt rate | 0% | 0% |
Debt Instrument, Collateral | No | No |
Notes payable | $ 15,882 | $ 15,882 |
Notes Payable, Related Party (D
Notes Payable, Related Party (Details Narrative) - Related Party [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Jun. 30, 2023 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Related party transaction, related activity | $ 0 | |
Notes payable | 46,733 | $ 46,733 |
Rob Novinger [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Notes payable | 30,851 | 30,851 |
Neu Ventures [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Notes payable | $ 15,882 | $ 15,882 |
Note Payable (Details Narrative
Note Payable (Details Narrative) - Line of Credit [Member] - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | Jul. 02, 2016 |
Short-Term Debt [Line Items] | |||
Notes payable | $ 25,000 | ||
Line of credit | $ 26,609 | $ 26,609 | |
Principal amount | 19,838 | 19,838 | |
Accrued interest | $ 6,771 | $ 6,771 |
Schedule of Settlement Payable
Schedule of Settlement Payable Related Party (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
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) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2022 | Dec. 31, 2018 | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2015 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Advances on agreements net noncurrent | $ 169,000 | $ 169,000 | |||
Due to related party | $ 21,456 | ||||
Loss on settlement of debt | $ (30,000) | ||||
Investor Three [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Advances on agreements net noncurrent | $ 750,000 | ||||
Deferred finance cost | 75,000 | ||||
Note payable | $ 200,000 | ||||
Investor Three [Member] | Minimum [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Loss on settlement of debt | 97,800 | ||||
Investor Three [Member] | Maximum [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Loss on settlement of debt | $ 615,000 | ||||
Investor Three [Member] | Related Party [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Due to related party | $ 825,000 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Related Party Transaction [Line Items] | |||||
Sublease revenue | |||||
Management consulting fees related parties | $ 75,000 | 59,000 | $ 150,000 | 118,000 | |
Repayments of Related Party Debt | 33,041 | ||||
Proceeds from issuance of common stock | 85,000 | ||||
Lease payment | 183,894 | ||||
Other Liabilities, Current | $ 21,456 | ||||
Affiliated Entity [Member] | |||||
Related Party Transaction [Line Items] | |||||
Other Liabilities, Current | 598,478 | 598,478 | 21,456 | ||
Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Sublease revenue | 52,500 | ||||
Sublease receivable | 52,500 | 52,500 | |||
Pineapple Consolidated Inc [Member] | |||||
Related Party Transaction [Line Items] | |||||
Proceeds from issuance of common stock | 50,000 | ||||
Pineapple Consolidated Inc [Member] | Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Amount due to PVI | 553,022 | 553,022 | 0 | ||
Pineapple Ventures, Inc. [Member] | Related Party [Member] | |||||
Related Party Transaction [Line Items] | |||||
Amount due to PVI | 45,456 | 45,456 | $ 21,456 | ||
Director [Member] | Pineapple Consolidated Inc [Member] | |||||
Related Party Transaction [Line Items] | |||||
[custom:AdvancesFromRelatedParty] | 7,600 | ||||
Costs and Expenses, Related Party | 628,463 | ||||
Repayments of Related Party Debt | 33,041 | ||||
Proceeds from issuance of common stock | 50,000 | ||||
Director [Member] | Pineapple Ventures [Member] | |||||
Related Party Transaction [Line Items] | |||||
Lease payment | 24,000 | ||||
Sub lease Agreement [Member] | Northridge [Member] | |||||
Related Party Transaction [Line Items] | |||||
Sublease revenue | 17,500 | ||||
Sublease receivable | 17,500 | 17,500 | |||
Sub lease Agreement [Member] | Hollywood [Member] | |||||
Related Party Transaction [Line Items] | |||||
Sublease revenue | 35,000 | 35,000 | |||
Sublease receivable | $ 35,000 | $ 35,000 | $ 35,000 | $ 35,000 |
Schedule of Operating Lease Lia
Schedule of Operating Lease Liability (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Leases | ||
Discount rate | 6.50% | |
Maturity | 2027 | |
Operating lease liability current | $ 1,042,093 | |
Discount rate | 6.50% | |
Maturity | 2027 | |
Operating lease liability Non current | $ 5,337,643 | |
Operating lease liability | 6,379,736 | |
Balance - December 31, 2022 | ||
Lease liability additions | 6,477,405 | |
Repayment of Lease liability | (183,894) | |
Imputed interest | 86,225 | |
Balance - June 30, 2023 | $ 6,379,736 |
Schedule of Maturity of Lease L
Schedule of Maturity of Lease Liabilities (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 |
Leases | ||
2023 | $ 615,918 | |
2024 | 1,625,033 | |
2025 | 1,575,862 | |
2026 | 1,345,984 | |
2027 | 1,335,460 | |
Thereafter | 1,022,528 | |
Total lease payments | 7,520,785 | |
Less: imputed interests | (1,141,049) | |
Operating lease liability | $ 6,379,736 |
Schedule of Supplemental Inform
Schedule of Supplemental Information (Details) | Jun. 30, 2023 |
Leases | |
Weighted average discount rate | 6.50% |
Weighted average lease term | 4 years 8 months 12 days |
Schedule of Right-of-Use Assets
Schedule of Right-of-Use Assets (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Leases | ||
Balance - December 31, 2022 | ||
Additions | 6,477,405 | |
Less: Amortization | (236,908) | |
Balance - June 30, 2023 | $ 6,240,497 |
Leases (Details Narrative)
Leases (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | ||||||||||||
Jun. 01, 2023 | May 15, 2023 | May 15, 2023 | May 01, 2023 | Apr. 10, 2023 | Apr. 01, 2023 | Mar. 10, 2023 | Jan. 15, 2023 | Jan. 11, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease payments | $ 183,894 | |||||||||||||
Right of use assets | $ 6,240,497 | 6,240,497 | ||||||||||||
Operating lease liability | 1,042,093 | 1,042,093 | ||||||||||||
Lease cost | 287,134 | 323,134 | ||||||||||||
Sublease Income | ||||||||||||||
Related Party [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Sublease Income | 52,500 | |||||||||||||
Sales-type Lease, Lease Receivable | 52,500 | 52,500 | ||||||||||||
Sub lease Agreement [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease term | 5 years | |||||||||||||
Monthly payments | $ 35,000 | $ 16,000 | ||||||||||||
sublease expire | Dec. 31, 2023 | |||||||||||||
11 January 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease term | 5 years | |||||||||||||
Monthly payments | $ 12,000 | |||||||||||||
Lease payments | 72,000 | |||||||||||||
Right of use assets | 563,563 | 563,563 | ||||||||||||
Operating lease liability | 563,563 | 563,563 | ||||||||||||
10 March 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease term | 5 years | |||||||||||||
Monthly payments | $ 5,000 | |||||||||||||
Lease payments | 15,000 | |||||||||||||
Right of use assets | 496,726 | 496,726 | ||||||||||||
Operating lease liability | 502,401 | 502,401 | ||||||||||||
Annual escalation rate | 4% | |||||||||||||
Lease prepayments | 10,000 | |||||||||||||
1 May 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease term | 5 years | |||||||||||||
Monthly payments | $ 18,999 | |||||||||||||
Right of use assets | 966,508 | 966,508 | ||||||||||||
Operating lease liability | 1,005,589 | 1,005,589 | ||||||||||||
10 April 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease term | 5 years | |||||||||||||
Monthly payments | $ 19,000 | |||||||||||||
Right of use assets | 967,126 | 967,126 | ||||||||||||
Operating lease liability | 987,480 | 987,480 | ||||||||||||
Annual escalation rate | 4% | |||||||||||||
Lease prepayments | 19,000 | |||||||||||||
1 April 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Monthly payments | $ 23,000 | |||||||||||||
Lease payments | 37,500 | |||||||||||||
Right of use assets | 1,041,629 | 1,041,629 | ||||||||||||
Operating lease liability | 1,073,789 | 1,073,789 | ||||||||||||
Annual escalation rate | 5% | |||||||||||||
15 May 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Lease term | 90 months | 90 months | ||||||||||||
Monthly payments | $ 20,280 | |||||||||||||
Right of use assets | 1,439,194 | 1,439,194 | ||||||||||||
Operating lease liability | 1,481,254 | 1,481,254 | ||||||||||||
Annual escalation rate | 3% | |||||||||||||
1 June 2023 [Member] | ||||||||||||||
Lessee, Lease, Description [Line Items] | ||||||||||||||
Monthly payments | $ 30,394 | |||||||||||||
Lease payments | 30,394 | |||||||||||||
Right of use assets | 765,661 | 765,661 | ||||||||||||
Operating lease liability | $ 765,661 | $ 765,661 | ||||||||||||
Expiry date | September 30, 2025 |
Schedule of Advance on Agreemen
Schedule of Advance on Agreement (Details) - USD ($) | Jun. 30, 2023 | Dec. 31, 2022 | 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 ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
Jun. 12, 2023 | Feb. 15, 2019 | Mar. 18, 2016 | Feb. 16, 2016 | Feb. 28, 2019 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2022 | Mar. 31, 2016 | Mar. 22, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||
Rent payment | $ 3,750 | ||||||||||||||
Advances on agreements current | 169,000 | $ 169,000 | |||||||||||||
Number of shares issued, shares | 1,000,000 | ||||||||||||||
Number of shares issued | $ 50,000 | $ 100,000 | |||||||||||||
Investor One [Member] | |||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||
Advances on agreements current | 187,500 | ||||||||||||||
Number of shares issued | $ 200,000 | ||||||||||||||
Debt periodic payment | $ 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 financed property | 187,500 | ||||||||||||||
Rent payment | $ 3,750 | ||||||||||||||
Due from related parties | $ 125,000 | ||||||||||||||
Escrow deposit | $ 40,768 | ||||||||||||||
Number of shares issued, shares | 20,000 | ||||||||||||||
Number of shares issued | $ 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 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 Investor Two [Member] | |||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||||||||
Advances on agreements current | 169,000 | $ 187,500 | $ 169,000 | ||||||||||||
Number of shares issued | 11,000 | ||||||||||||||
Debt periodic payment | 10,000 | ||||||||||||||
Additional expense | 8,375 | ||||||||||||||
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] | |||||||||||||||
Notes payable | $ 125,000 | ||||||||||||||
Number of shares issued, shares | 20,000 |
Stockholders_ Equity (Details N
Stockholders’ Equity (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 12, 2023 | Mar. 31, 2023 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
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 authorized | 500,000,000 | 500,000,000 | |||
Preferred stock, shares issued | 0 | 0 | |||
Preferred stock, shares outstanding | 0 | 0 | |||
Sale of Stock, Number of Shares Issued in Transaction | 340,000 | ||||
Proceeds from issuance of common stock | $ 85,000 | ||||
Number of stock issued | 1,000,000 | ||||
Share price | $ 0.90 | $ 0.25 | |||
Proceeds from stock subscription received | $ 150,000 | ||||
Stock subscription received shares | 400,000 | ||||
Common stock, shares outstanding | 73,103,569 | 71,163,569 | |||
Pineapple Wellness, Inc. [Member] | |||||
Class of Stock [Line Items] | |||||
Ownership percentage | 100% | ||||
Pineapple Consolidated Inc [Member] | |||||
Class of Stock [Line Items] | |||||
Proceeds from issuance of common stock | $ 50,000 | ||||
Common Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Capital stock shares issued | 600,000 | ||||
Stock subscription | $ 150,000 | ||||
Number of stock issued | 600,000 | ||||
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 |
Schedule of Restatement of Cons
Schedule of Restatement of Consolidated Balance Sheets and Operations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | ||||
Current Assets: | |||||||||||
Cash | $ 1,509 | $ 1,509 | |||||||||
Prepaid expense | |||||||||||
Lease receivable | |||||||||||
Inventory | 27,336 | ||||||||||
Total Current Assets | 54,009 | 54,009 | 27,336 | ||||||||
Security deposits | 270,278 | 270,278 | |||||||||
Property and equipment, net | 2,358 | ||||||||||
Operating lease right-of-use assets, net | 6,240,497 | 6,240,497 | |||||||||
Total Assets | 6,564,784 | 6,564,784 | 29,694 | ||||||||
Current Liabilities: | |||||||||||
Accounts payable and accrued liabilities | 398,983 | 398,983 | 398,551 | ||||||||
Accounts payable - related party | 31,500 | ||||||||||
Accrued interest payable | 6,771 | 6,771 | 6,771 | ||||||||
Settlement payable - related party | 615,000 | 615,000 | 615,000 | ||||||||
Due to affiliates | 21,456 | ||||||||||
Advances on agreements | 169,000 | 169,000 | 169,000 | ||||||||
Contingent liabilities | 105,523 | 105,523 | 105,523 | ||||||||
Operating lease liability | 1,042,093 | 1,042,093 | |||||||||
Total Current Liabilities | 3,033,919 | 3,033,919 | 1,414,372 | ||||||||
Operating lease liability, non-current | 5,337,643 | 5,337,643 | |||||||||
Total Liabilities | 8,371,562 | 8,371,562 | 1,414,372 | ||||||||
Commitments and contingencies (note 13) | |||||||||||
Stockholders’ Deficit: | |||||||||||
Preferred stock value | |||||||||||
Preferred stock, par value | $ 0.00 | $ 0.00 | $ 0.00 | ||||||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | ||||||||
Common stock, $0.0000001 par value, 500,000,000 shares authorized, 71,163,569 shares issued and outstanding | $ 7 | $ 7 | $ 7 | ||||||||
Common stock, par value | $ 0.00 | $ 0.00 | $ 0.00 | ||||||||
Common stock, shares authorized | 500,000,000 | 500,000,000 | 500,000,000 | ||||||||
Common stock, shares outstanding | 73,103,569 | 73,103,569 | 71,163,569 | ||||||||
Common stock, shares issued | 73,103,569 | 73,103,569 | 71,163,569 | ||||||||
Subscription received – shares to be issued | $ 150,000 | ||||||||||
Additional paid-in-capital | 22,239,079 | 22,239,079 | 22,004,079 | ||||||||
Accumulated deficit | (24,045,864) | (24,045,864) | (23,538,764) | ||||||||
Total Stockholders’ Deficit | (1,806,778) | $ (1,452,197) | [1] | $ 6,978,938 | [2] | $ 6,792,182 | (1,806,778) | $ 6,978,938 | [2] | (1,384,678) | $ 6,316,935 |
Total Liabilities and Stockholders’ Deficit | 6,564,784 | 6,564,784 | 29,694 | ||||||||
Revenue | |||||||||||
Sublease revenue | |||||||||||
Sales revenue | 640 | 822 | |||||||||
Cost of sales | 336 | 488 | |||||||||
Gross Profit (Loss) | (280,234) | 304 | (270,634) | 334 | |||||||
Operating Expenses | |||||||||||
General and administrative | 56,194 | 70,178 | 56,772 | 138,499 | |||||||
Lease expense | 287,134 | 323,134 | |||||||||
Management consulting fees - related parties | 75,000 | 59,000 | 150,000 | 118,000 | |||||||
Depreciation | 817 | 1,598 | 2,358 | 3,196 | |||||||
Total Operating Expenses | 132,011 | 130,776 | 209,130 | 259,695 | |||||||
Operating loss | (412,245) | (130,472) | (479,764) | (259,361) | |||||||
Other Income | |||||||||||
Income from equity-method investment | 237,228 | 741,364 | |||||||||
Gain on forgiveness of related party note payable | 30,000 | 30,000 | |||||||||
Impairment of inventory | (27,336) | (27,336) | |||||||||
Total Other Income (expense) | (27,336) | 267,228 | (27,336) | 771,364 | |||||||
Income (Loss) before taxes | (439,581) | 136,756 | (507,100) | 512,003 | |||||||
Provision for income taxes | |||||||||||
Net Income (Loss) | $ (439,581) | (67,519) | $ 136,756 | 375,247 | $ (507,100) | $ 512,003 | |||||
Net Income (Loss) Per Share – Basic | $ (0.01) | $ 0 | $ (0.01) | $ 0.01 | |||||||
Net Income (Loss) Per Share - Diluted | $ (0.01) | $ 0 | $ (0.01) | $ 0.01 | |||||||
Weighted Average Common Shares – Basic | 72,035,657 | 91,163,569 | 71,747,878 | 91,163,569 | |||||||
Weighted Average Common Shares - Diluted | 72,035,657 | 91,163,569 | 71,747,878 | 91,163,569 | |||||||
Cash Flows from Operating Activities | |||||||||||
Net Income | $ (439,581) | (67,519) | $ 136,756 | 375,247 | $ (507,100) | $ 512,003 | |||||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||||||||
Depreciation of property and equipment | 2,358 | 3,196 | |||||||||
Income from equity-method investment | (237,228) | (741,364) | |||||||||
Gain on forgiveness of related party note payable | (30,000) | ||||||||||
Changes in operating assets and liabilities: | |||||||||||
Inventory | (4,059) | ||||||||||
Accounts payable and accrued liabilities | 429 | 26,288 | |||||||||
Accounts payable related party | 35,750 | ||||||||||
Due to affiliates | 602,463 | 95,891 | |||||||||
Net cash used in operating activities | (58,050) | (102,295) | |||||||||
Cash Flows from Financing Activities | |||||||||||
Proceeds from stock subscription | 150,000 | ||||||||||
Proceeds from related party notes payable | 4,295 | ||||||||||
Repayments of related party notes payable | (52,000) | ||||||||||
Net cash provided by financing activities | 59,559 | 102,295 | |||||||||
Net Change in Cash | 1,509 | ||||||||||
Cash, Beginning of Period | |||||||||||
Cash, End of Period | 1,509 | 1,509 | |||||||||
Supplemental Disclosures of Cash Flow Information | |||||||||||
Cash paid for interest | |||||||||||
Cash paid for taxes | |||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||
Stockholders’ Deficit: | |||||||||||
Preferred stock value | |||||||||||
Preferred stock, par value | $ 0.00 | $ 0.00 | $ 0.00 | ||||||||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||
Related Party [Member] | |||||||||||
Current Liabilities: | |||||||||||
Accounts payable - related party | $ 31,500 | $ 31,500 | $ 31,500 | ||||||||
Notes payable | 46,733 | 46,733 | 46,733 | ||||||||
Revenue | |||||||||||
Sublease revenue | 52,500 | ||||||||||
Nonrelated Party [Member] | |||||||||||
Current Liabilities: | |||||||||||
Notes payable | $ 19,838 | $ 19,838 | 19,838 | ||||||||
Previously Reported [Member] | |||||||||||
Current Assets: | |||||||||||
Cash | |||||||||||
Prepaid expense | |||||||||||
Lease receivable | |||||||||||
Inventory | |||||||||||
Total Current Assets | |||||||||||
Security deposits | |||||||||||
Property and equipment, net | 2,358 | ||||||||||
Operating lease right-of-use assets, net | |||||||||||
Total Assets | 2,358 | ||||||||||
Current Liabilities: | |||||||||||
Accounts payable and accrued liabilities | 398,489 | ||||||||||
Accounts payable - related party | 31,500 | ||||||||||
Accrued interest payable | 6,771 | ||||||||||
Settlement payable - related party | 615,000 | ||||||||||
Due to affiliates | |||||||||||
Advances on agreements | 169,000 | ||||||||||
Contingent liabilities | 105,523 | ||||||||||
Operating lease liability | |||||||||||
Total Current Liabilities | 1,376,972 | ||||||||||
Operating lease liability, non-current | |||||||||||
Total Liabilities | 1,376,972 | ||||||||||
Commitments and contingencies (note 13) | |||||||||||
Stockholders’ Deficit: | |||||||||||
Preferred stock value | |||||||||||
Common stock, $0.0000001 par value, 500,000,000 shares authorized, 71,163,569 shares issued and outstanding | 7 | ||||||||||
Subscription received – shares to be issued | 150,000 | ||||||||||
Additional paid-in-capital | 22,004,079 | ||||||||||
Accumulated deficit | (23,528,700) | ||||||||||
Total Stockholders’ Deficit | (1,374,614) | ||||||||||
Total Liabilities and Stockholders’ Deficit | 2,358 | ||||||||||
Revenue | |||||||||||
Sublease revenue | |||||||||||
Sales revenue | |||||||||||
Cost of sales | |||||||||||
Gross Profit (Loss) | |||||||||||
Operating Expenses | |||||||||||
General and administrative | 69,142 | 137,463 | |||||||||
Lease expense | |||||||||||
Management consulting fees - related parties | 59,000 | 118,000 | |||||||||
Depreciation | 1,598 | 3,196 | |||||||||
Total Operating Expenses | 129,740 | 258,659 | |||||||||
Operating loss | (129,740) | (258,659) | |||||||||
Other Income | |||||||||||
Income from equity-method investment | 237,228 | 741,364 | |||||||||
Gain on forgiveness of related party note payable | 30,000 | 30,000 | |||||||||
Impairment of inventory | |||||||||||
Total Other Income (expense) | 267,228 | 771,364 | |||||||||
Income (Loss) before taxes | 137,488 | 512,705 | |||||||||
Provision for income taxes | |||||||||||
Net Income (Loss) | $ 137,488 | $ 512,705 | |||||||||
Net Income (Loss) Per Share – Basic | $ 0 | $ 0.01 | |||||||||
Net Income (Loss) Per Share - Diluted | $ 0 | $ 0.01 | |||||||||
Weighted Average Common Shares – Basic | 91,163,569 | 91,163,569 | |||||||||
Weighted Average Common Shares - Diluted | 91,163,569 | 91,163,569 | |||||||||
Cash Flows from Operating Activities | |||||||||||
Net Income | $ 137,488 | $ 512,705 | |||||||||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||||||||
Depreciation of property and equipment | 3,196 | ||||||||||
Income from equity-method investment | (237,228) | (741,364) | |||||||||
Gain on forgiveness of related party note payable | (30,000) | ||||||||||
Changes in operating assets and liabilities: | |||||||||||
Inventory | |||||||||||
Accounts payable and accrued liabilities | 26,351 | ||||||||||
Accounts payable related party | 35,750 | ||||||||||
Due to affiliates | 91,177 | ||||||||||
Net cash used in operating activities | (102,185) | ||||||||||
Cash Flows from Financing Activities | |||||||||||
Proceeds from stock subscription | 150,000 | ||||||||||
Proceeds from related party notes payable | 4,185 | ||||||||||
Repayments of related party notes payable | (52,000) | ||||||||||
Net cash provided by financing activities | 102,185 | ||||||||||
Net Change in Cash | |||||||||||
Cash, Beginning of Period | |||||||||||
Cash, End of Period | |||||||||||
Supplemental Disclosures of Cash Flow Information | |||||||||||
Cash paid for interest | |||||||||||
Cash paid for taxes | |||||||||||
Previously Reported [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||
Stockholders’ Deficit: | |||||||||||
Preferred stock value | |||||||||||
Previously Reported [Member] | Related Party [Member] | |||||||||||
Current Liabilities: | |||||||||||
Notes payable | 30,851 | ||||||||||
Previously Reported [Member] | Nonrelated Party [Member] | |||||||||||
Current Liabilities: | |||||||||||
Notes payable | 19,838 | ||||||||||
Revision of Prior Period, Adjustment [Member] | |||||||||||
Current Assets: | |||||||||||
Cash | |||||||||||
Prepaid expense | |||||||||||
Lease receivable | |||||||||||
Inventory | 27,336 | ||||||||||
Total Current Assets | 27,336 | ||||||||||
Property and equipment, net | |||||||||||
Operating lease right-of-use assets, net | |||||||||||
Total Assets | 27,336 | ||||||||||
Current Liabilities: | |||||||||||
Accounts payable and accrued liabilities | 62 | ||||||||||
Accounts payable - related party | |||||||||||
Accrued interest payable | |||||||||||
Settlement payable - related party | |||||||||||
Due to affiliates | 21,456 | ||||||||||
Advances on agreements | |||||||||||
Contingent liabilities | |||||||||||
Operating lease liability | |||||||||||
Total Current Liabilities | 37,400 | ||||||||||
Operating lease liability, non-current | |||||||||||
Total Liabilities | 37,400 | ||||||||||
Commitments and contingencies (note 13) | |||||||||||
Stockholders’ Deficit: | |||||||||||
Preferred stock value | |||||||||||
Common stock, $0.0000001 par value, 500,000,000 shares authorized, 71,163,569 shares issued and outstanding | |||||||||||
Subscription received – shares to be issued | |||||||||||
Additional paid-in-capital | |||||||||||
Accumulated deficit | (10,064) | ||||||||||
Total Stockholders’ Deficit | (10,064) | ||||||||||
Total Liabilities and Stockholders’ Deficit | 27,336 | ||||||||||
Revenue | |||||||||||
Sublease revenue | |||||||||||
Sales revenue | 640 | 822 | |||||||||
Cost of sales | 336 | 488 | |||||||||
Gross Profit (Loss) | 304 | 334 | |||||||||
Operating Expenses | |||||||||||
General and administrative | 1,036 | 1,036 | |||||||||
Lease expense | |||||||||||
Management consulting fees - related parties | |||||||||||
Depreciation | |||||||||||
Total Operating Expenses | 1,036 | 1,036 | |||||||||
Operating loss | (732) | (702) | |||||||||
Other Income | |||||||||||
Income from equity-method investment | |||||||||||
Gain on forgiveness of related party note payable | |||||||||||
Impairment of inventory | |||||||||||
Total Other Income (expense) | |||||||||||
Income (Loss) before taxes | (732) | (702) | |||||||||
Provision for income taxes | |||||||||||
Net Income (Loss) | (732) | (702) | |||||||||
Cash Flows from Operating Activities | |||||||||||
Net Income | (732) | (702) | |||||||||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||||||||
Depreciation of property and equipment | |||||||||||
Income from equity-method investment | |||||||||||
Gain on forgiveness of related party note payable | |||||||||||
Changes in operating assets and liabilities: | |||||||||||
Inventory | (4,059) | ||||||||||
Accounts payable and accrued liabilities | (63) | ||||||||||
Accounts payable related party | |||||||||||
Due to affiliates | 4,714 | ||||||||||
Net cash used in operating activities | (110) | ||||||||||
Cash Flows from Financing Activities | |||||||||||
Proceeds from stock subscription | |||||||||||
Proceeds from related party notes payable | 110 | ||||||||||
Repayments of related party notes payable | |||||||||||
Net cash provided by financing activities | 110 | ||||||||||
Net Change in Cash | |||||||||||
Cash, Beginning of Period | |||||||||||
Cash, End of Period | |||||||||||
Supplemental Disclosures of Cash Flow Information | |||||||||||
Cash paid for interest | |||||||||||
Cash paid for taxes | |||||||||||
Revision of Prior Period, Adjustment [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||
Stockholders’ Deficit: | |||||||||||
Preferred stock value | |||||||||||
Revision of Prior Period, Adjustment [Member] | Related Party [Member] | |||||||||||
Current Liabilities: | |||||||||||
Notes payable | 15,882 | ||||||||||
Revision of Prior Period, Adjustment [Member] | Nonrelated Party [Member] | |||||||||||
Current Liabilities: | |||||||||||
Notes payable | |||||||||||
[1]Retrospectively reflect Pineapple Wellness accounts under pooling-of-interest method[2]Retrospectively reflect Pineapple Wellness accounts under pooling-of-interest method |
Acquisition Under Common Cont_3
Acquisition Under Common Control (Details Narrative) - shares | Jun. 30, 2023 | Jun. 12, 2023 | Dec. 31, 2022 |
Restructuring Cost and Reserve [Line Items] | |||
Shares issued | 73,103,569 | 71,163,569 | |
Pineapple Wellness, Inc. [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Shares issued | 1,000,000 |
Commitments and Contingencies (
Commitments and Contingencies (Details Narrative) - USD ($) | 6 Months Ended | 12 Months Ended | |||||
May 11, 2021 | Jan. 22, 2018 | Dec. 11, 2017 | Jun. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2020 | Oct. 27, 2020 | |
Hawkeye v. Pineapple Express, Inc [Member] | |||||||
Plaintiff claimed damages | $ 900,000 | ||||||
Claims from court | 615,000 | $ 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] | |||||||
Judgment award transitioned | $ 47,684 | ||||||
Cunningham v.Pineapple Express, Inc [Member] | |||||||
Judgment award transitioned | $ 2,367 | ||||||
StoryCorp Consulting, dba Wells Compliance Group [Member] | |||||||
Contingent liabilities | 29,280 | 29,280 | $ 23,805 | ||||
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 parties current | $ 30,851 | $ 30,851 |
Subsequent Events (Details Narr
Subsequent Events (Details Narrative) - USD ($) | Sep. 11, 2023 | Jun. 06, 2023 | May 23, 2023 |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Sublease payment | $ 17,500 | ||
Lease Agreement [Member] | |||
Subsequent Event [Line Items] | |||
Lease term | 5 years | 66 months | |
Installment payaments | $ 13,325 | $ 10,665 |