Slojab
1 day ago
The 10-K is out. Some interesting points include ......
The Company anticipates requiring a minimum of $350,000 dollars in funding to sustain operations for the next 12 months, commencing 01/01/2025. This figure accounts for the anticipated monthly cash needed of $30,000, the projected expenses associated with the upcoming beta testing and physical QR-NFT tag deployment phases, excluding director compensation. This deployment phase, estimated to require six months, will be followed by a two-month period for documentation and production preparation. Current capital resources are insufficient to fully fund the entire project timeline, and the company’s ability to achieve full deployment within twelve months is contingent upon securing the necessary funding. Failure to secure sufficient capital will negatively impact on the projected rollout schedule.
On May 14, 2021, George Kuper, a former employee of the Company, filed a complaint against TransferLedger Co. in the Circuit Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida (Case No. 2021-011579-CA-01). The complaint alleged breaches of contract related to Mr. Kuper’s employment with the Company. It is important to note that Mr. Kuper’s engagement with the Company was based on a verbal agreement rather than a written employment contract.
The Company did not file a timely response to the complaint, and on July 18, 2023, the Court entered a default judgment in favor of Mr. Kuper in the amount of $521,256, plus attorneys’ fees and costs. The judgment remains unsatisfied as of the date of this filing.
Under Florida law, the statute of limitations for debt recovery is generally (4) four years for obligations based on oral agreements. This limitation period may affect future enforcement actions related to this judgment. However, once reduced to judgment, Florida law provides for a 20-year period during which the judgment may be enforced, though judgment liens on real property expire after 10 years unless renewed.
Management is currently evaluating options regarding this judgment, including potential challenges to the judgment based on the statute of limitations for oral agreements, settlement negotiations, or payment plan arrangements with the plaintiff. The Company has recorded the full judgment amount as a liability on its balance sheet. This obligation could materially impact the Company’s financial position and liquidity, particularly as we seek to secure additional funding for operations as described elsewhere in this report.
The Company generates $3,600 and $0 in revenues for the years ended December 31, 2024 and 2023, respectively. The Company generated $3,600 from a single customer for technical support.
Net income (loss) from operations for the years ended December 31, 2024 was ($2,099,230) compared to ($1,408,727) for the years ended December 31, 2023, a change of ($690,503) or approximately 49%. The increase in the net loss can primarily be attributed to the default interest expense recorded on all outstanding convertible notes payable and the Company’s ratable changes in derivatives.
The Company sustained a loss of $2,099,230 for the year ended December 31, 2024 and of $1,408,727 for the year ended December 31, 2023.
What's Canouse going to do? Three pages of notes dating back to 2017! What is this guy thinking? For that matter, what is Frank thinking?
NOTE 5 - CONVERTIBLE NOTES PAYABLE
The following table represents the convertible notes payable at Decedmber 31, 2024, and 2023. Per footnote 2, all convertible notes payable are in default as of December 31, 2024 and 2023, respectively.
Slojab
2 days ago
Not for existing shareholders it wouldn't be. They'd be wiped out because anyone coming in would immediately do a massive R/S.
Authorized Shares
20,000,000,000
04/14/2025
Outstanding Shares
18,436,881,661
04/14/2025
Restricted
150,792,300
04/14/2025
Unrestricted
18,286,089,361
04/14/2025
okwife
3 weeks ago
SANP??? GARBAGE? ALMOST 20 BILLION SHARES O/S???
Thanks for the update $SANP.
Please, can you update the status on 'Filing Form 211 with FINRA in conjunction with a Broker-Dealer'. It is almost close to 3 months, would like to hear update on this ASAP.— RNR (@RNRRag) March 27, 2025
i suspect that rnr is a regard
still holding out hope for $sanp and $pnxp
hey @RNRRag i have a gold-laying chicken to sell you LOL https://t.co/7Ipy5DSJ2x— GregTheClown (@FGuy1984) March 27, 2025
History in the making$PNXP & $SANP https://t.co/ChnG5YxNc8— Pinya XP (@pinyaxp) March 20, 2025
👀 $PNXP investors, something BIG is brewing! Stay tuned for a major announcement that will take our blockchain NFT-QR authentication platform to new heights. Our vision for transforming cannabis product verification is about to get a serious boost. $SANP @groovyclick pic.twitter.com/uKC1aEVHX9— Pinya XP (@pinyaxp) March 6, 2025
https://www.otcmarkets.com/stock/SANP/security
https://www.otcmarkets.com/stock/PNXP/security
Real case use of #Blockchain @POTUS45 starts with #Groovytags #savinglives $PNXP #CanTech https://t.co/lhKNbyCJsH— Pinya XP (@pinyaxp) March 20, 2025
Kracker Jones
1 month ago
Pineapple Express to acquire Groovy Co. through stock trade deal
Avatar photoJohn SchroyerMarch 11, 20252min0
Pineapple Express
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The deal will give Pineapple Express access to QR code technology for its packaging.
Georgia-based Pineapple Express Cannabis Co. (OTC PINK: PNXP) is set to acquire tech business Groovy Company Inc. (USOTC:SANP) through a stock trade deal, under which Pineapple will get 350 million shares of Groovy, and Groovy will get 5 million shares of Pineapple.
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John Schroyer
John Schroyer has been a reporter since 2006, initially with a focus on politics, and covered the 2012 Colorado campaign to legalize marijuana. He has written about the cannabis industry specifically since 2014, after being on hand for the first-ever legal cannabis sales on New Year’s Day that year in Denver. John has covered subsequent marijuana market launches in California and Illinois, has written about every aspect of the marijuana trade, and was part of the team that built the cannabis industry’s first-ever trade show, MJBizCon. He joined Green Market Report in 2022.
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Slojab
1 month ago
So, Frank, Williams and Jodrey all gave up their preferred shares in this transaction.
At September 30, 2024 and December 31, 2023 there are 500,000,000 shares authorized of Preferred “A” Stock, par or stated value: $0.001. Total Shares Issued & Outstanding was 350,000,000 and 350,000,000, respectively.
Those shares are converted by a factor of 100 into 35B common. There're not enough shares available for that to happen, of course, but it doesn't matter. SANP is worthless both as a company and as a subsidiary to PNXP at this stage of the game.
I wonder what bullshit Frank will come up with this Saturday to give a different impression of things as far as SANP goes. That is, if he even mentions SANP.