Order Execution Process

Our order execution process in general can be described as below:

The most important stage is to be known about the:

1. Measurement (size of the room),

2. The tasks (what will be built, under whom, for how many people)

3. Concept development (future plan / planning decision)

4. Sketches (3D model in sketchpad for example)

5. Visualizations

6. Drawings (technical documentation)

The process of 3d architectural visualization begins with the collection of all the documents necessary for the project such as AutoCAD drawings and photographs of the project, videos, images, reference materials, target audience and expected objectives. Once the documents are collected they are being reviewed and analyzed to evolve the right action plan to assure the best output. The texture (for a more realistic look) and appropriate lighting (for the enhancement of the layout with landscape) are the last touches applied to the shorts prior to 3D rendering.

Prices

Webpage and Marketing

We plan to market our services in Cyprus. Architectural visualization services we plan on providing are highly dependent on construction industry in Cyprus.

Initially, our services will be promoted by our President, Yulia Lazaridou. She will discuss our product with her friends and business associates. The marketing and advertising will be targeted to architects, builders, advertising agencies, interior designers and various sectors which have need of 3D visualization in Cyprus. We intend to develop and maintain a database of potential clients who may want to use Minaro’s services. We will follow up with these clients periodically and offer them free presentations and special discounts from time to time. Our methods of communication will include: phone calls and emails. We will ask our satisfied clients for referrals.

We will market and advertise our product on our web site (www.minaro-corp.com) by showing its advantages over visualization services offered by other companies. We intend to attract traffic to our website by a variety of online marketing tactics such as registering with top search engines using selected key words (meta tags) and utilizing link and banner exchange options.  We intend to promote our website by displaying it on our promotion materials.

We plan to expand our services to USA market in the future only when or if we have the available resources and growth to warrant it. Currently this option is questionable. 

We intend to continue our marketing efforts during the life of our operations. We intend to spend from $500 to $8,000 on marketing efforts during the first year. There is no guarantee that we will be able to attract or retain enough customers to justify our expenditures. If we are unable to generate a significant amount of revenue and successfully protect ourselves against those risks, then it would materially affect our financial condition and our business could be harmed.

Office facilities

The Company leases a 32-square meter office space located at 39 Markou Mpotsari, Kaimakli, Nicosia, 1037, Cyprus. The lease contract was signed for a one-year term from September 1^st, 2017 with the option of expansion for an additional one-year term.

  Customers

Minaro Corp. has two customers, ASBILI and Twidel Co. as of April 30, 2018. The agreements with this customers are filed as Exhibit 10.3 and Exhibit 10.5 to this registration statement.

Competitors

There are many well-established 3D design companies that provide service in our area like K3d Architectural 3d & Graphic Art, SPOON Ltd., Changa Vision, Bizzy Bee Media etñ.  Most of our competitors have greater financial resources than we do and will be able to withstand sales or price decreases better than we can. We also expect to continue to face competition from new market service entrants. We may be unable to continue to compete effectively with these existing or new competitors, which could have a material adverse effect on our financial condition and results of operations.operations of Pineapple Express Cannabis Company and its subsidiaries (together, the “Company” or “Pineapple Express Cannabis”) should be read in conjunction with our unaudited consolidated financial statements and the accompanying notes thereto included elsewhere in this Quarterly Report on Form 10-Q. References in this Management’s Discussion and Analysis of Financial Condition and Results of Operations to “us,” “we,” “our,” and similar terms refer to the Company. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the Risk Factors section of our Annual Report on Form 10-K for the year ended January 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) on May 24, 2023, as the same may be updated from time to time. We use words such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “could,” and similar expressions to identify forward-looking statements.

Overview

We are based in Los Angeles, California. Our wholly owned operating subsidiary, Ananas Growth Ventures, serves as an incubator, helping early-stage ventures and startups in the cannabis sector through funding, mentoring, and training. We are also engaged in legal cannabis retail through our 50% owned equity method investee, Pineapple Consolidated Inc. (“PCI”). PCI runs Pineapple Express, a cannabis retailer, and owns and manages retail cannabis ventures. PCI seeks to become a leading portfolio management company in the U.S. cannabis industry. With its headquarters in Los Angeles, Pineapple Express is rapidly increasing its footprint throughout California and is looking to scale into underdeveloped markets.

PCI has executed management contracts for 10% revenue sharing with eight entities in which it holds an equity interest through its wholly owned subsidiary, PNPL Holdings, Inc. Those entities are shown below:

Recent Developments

On December 18, 2022, we entered into a Share Exchange Agreement (the “Exchange Agreement”) with Yulia Lazaridou, our then-majority stockholder, PCI, and the PCI stockholders (collectively, the “PCI Stockholders”). Pursuant to the terms of the Exchange Agreement, the PCI Stockholders exchanged an aggregate of 50,000 shares of PCI common stock, representing 50% of the outstanding PCI common stock, for 18,000,000 shares of our common stock.

 13In addition, on December 18, 2022, in a transaction related to and a condition to the Exchange, Ms. Lazaridou and the Company entered into that certain Resignation, Separation and Release Agreement (the “Resignation Agreement”), pursuant to which (i) we redeemed 2,800,000 shares of Company common stock owned by Ms. Lazaridou (the “Lazaridou Shares”) in exchange for a payment by us of $540,904; and (b) Ms. Lazaridou resigned as our sole director and officer, effective as of December 21, 2022.

In order to fund the payment for the Lazaridou Shares, contemporaneous with the Exchange, on December 18, 2022, PCI loaned $540,904 to us. The loan (the “PCI Loan”) matures on June 30, 2023 and earns interest at an annual rate of 1%.

In addition, on December 18, 2022, Ms. Lazaridou, as sole director and majority stockholder, (i) elected Matthew Feinstein as sole director of the Company; (ii) appointed Mr. Feinstein as Chief Executive Officer, President, Chairman of the Board and Interim Chief Financial Officer of the Company; (iii) accepted Ms. Lazaridou’s resignation; (iv) approved the Exchange Agreement; and (v) approved the Resignation Agreement.

RESEARCH AND DEVELOPMENT EXPENDITURESAs a result of the above-described transactions, the Company is 50% owned by the PCI Stockholders and PCI is 50% owned by the Company.

We have not incurred any research expenditures sinceOn December 30, 2022, we notified Financial Industry Regulatory Authority (“FINRA”) of our incorporation.intent to change our corporate name from “Minaro Corp.” to “Pineapple Express Cannabis Company” and to change our trading symbol to PNXP. These corporate actions were subject to FINRA review and clearance which was received during this reporting period.

BANKRUPTCY OR SIMILAR PROCEEDINGSOn January 5, 2023, we filed Restated Articles of Incorporation (the “Restated Articles”) with the State of Nevada. The Restated Articles had the effect of (i) changing our corporate name to “Pineapple Express Cannabis Company”; and (ii) creating a class of 10,000,000 authorized shares of preferred stock.

ThereResults of Operations

Three Months Ended July 31, 2023 Compared to Three Months Ended July 31, 2022

Revenues

For the three months ended July 31, 2023 and 2022, the Company generated revenues of $0 and $0, respectively. No change has been no bankruptcy, receivership or similar proceeding entered into either voluntarily bynoted from the respective periods.

Cost of Goods Sold

For the three months ended July 31, 2023 and 2022, the cost of goods sold was $0 and $0, respectively.

Total Operating Expenses

Total operating expenses for the three months ended July 31, 2023 and 2022 were $19,247 and $1,360, respectively. The increase was primarily due to an increase in legal fees and audit fees, partly due to the sale of the Company and involuntarily againstthe acquisition of PCI by the Company.

REORGANIZATIONS, PURCHASE OR SALE OF ASSETS

There have been no material reclassifications, mergers, consolidations, or purchase or sale of a significant amount of assets not in Operating expenses for the ordinary course of business.

COMPLIANCE WITH GOVERNMENT REGULATION

We will be required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the construction and operation of any facility in any jurisdiction which we would conduct activities.

We do not believe that any existing or probable government regulation on our business, including any applicable export or import regulation or control imposed by Cyprus will have a material impact on the way we conduct our business.

EMPLOYEES AND EMPLOYMENT AGREEMENTS

We have no employees as of the date of this report. Our sole officer and director, Yulia Lazaridou, currently devotes as much time as needed to provide management services to company matters. After receiving funding, Ms. Lazaridou plans to devote as much time to the operation of the Company as she determines is necessary for her to manage the affairs of the Company. As our business and operations increase, we will assess the need for full-time management and administrative support personnel.

LEGAL PROCEEDINGS

There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company.  

RESULTS OF OPERATIONS

We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

LIQUIDITY AND CAPITAL RESOURCES

As atthree months ended July 31, 2018, our total assets were $3,367. Total assets were comprised2023 consisted of $1,298 in current assetsdepreciation expense of $115; legal fees of $10,359; audit fees of $2,000; and $2,069 in fixed assets.

As atprofessional fees of $6,773. Operating expenses for the three months ended July 31, 2018, our current liabilities were $7,5602022 consisted of bank charges of $32; depreciation expense of $938; professional fees of $235; and Stockholders’ deficitother expenses of $155.

Net Income (Loss)

Net income (loss) for the three months ended July 31, 2023 and 2022 was $4,283.$613,913 and ($1,360) respectively. The increase in net income was primarily due to recognition of gain from the PCI subsidiary using the equity-investment method.

CASH FLOWS FROM OPERATING ACTIVITIES

Six Months Ended July 31, 2023 Compared to Six Months Ended July 31, 2022

Revenues

For the six months ended July 31, 2018 net cash flows used2023 and 2022, the Company generated revenues of $0 and $4,560, respectively. The decrease in operating activities was $1,367.revenue is due to the company’s transition from focusing on architectural design services to a focus on the cannabis industry.

Cost of Goods Sold

For the six months ended July 31, 2017 net cash flows used in2023 and 2022, the cost of goods sold was $0 and $0, respectively.

Total Operating Expenses

Total operating activities was negative $16.

CASH FLOWS FROM INVESTING ACTIVITIES

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Forexpenses for the six months ended July 31, 2018 we have generated $9202023 and 2022 were $48,953 and $11,637, respectively. The increase was primarily due to an increase in legal fees and audit fees, largely due to the sale of cash used in investing activities.

Forthe Company and subsequent acquisition of PCI by the Company. Operating expenses for the six months ended July 31, 2017 we have generated $02023, consisted of cash used in investing activities.

CASH FLOWS FROM FINANCING ACTIVITIES

Fordepreciation expense of $230; legal fees of $26,381; audit fees of $14,500; and professional fees of $7,842. Operating expenses for the six months ended July 31, 2018 net cash flows used in financing activities was $0.2022 consisted of bank charges of $99; depreciation expense of $1,712; professional fees of $9,661; and other expenses of $165.

ForNet Income (Loss)

Net income (loss) for the six months ended July 31, 20172023 and 2022 was $613,913 and ($6,987) respectively. The increase in net income was primarily due to recognition of gain from the PCI subsidiary using the equity-investment method.

Liquidity and Capital Resources

As of July 31, 2023, the Company had cash of $0 and retained earnings of $211,511. To date, we have financed our operations primarily through the issuance of debt and equity sourced capital.

The following table sets forth a summary of our cash flows usedfor the six months ended July 31, 2023 and 2022:

Since inception, we have financed our cash flow requirements primarily through issuance of common stock and debt financing. As we expand our activities, we may continue to experience net negative cash flows from operations. We anticipate obtaining additional financing to fund operations through additional common stock offerings, to the extent available, or to obtain additional financing to the extent necessary to augment our working capital. There can be no assurance that we will be able to obtain financing on commercially acceptable terms, if at all.

We anticipate that we will incur operating losses in financing activities was $2,900.the next 12 months. Our lack of operating history makes predictions of future operating results difficult to ascertain. Our prospects must be considered in light of the risks, expenses and difficulties frequently encountered by companies in their early stage of development, particularly companies in new and rapidly evolving markets. There can be no assurance that we will be successful in addressing such risks, and the failure to do so can have a material adverse effect.

MANAGEMENT’S DISCUSSION AND ANALYSISCritical Accounting Policies and Estimates

You  should read  the followingOur management’s discussion and analysis of our financial condition and results of operations togetheris based on our unaudited consolidated financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The preparation of our unaudited consolidated financial statements requires us 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 related  notesreported amounts of revenue and expenses during the reported period. In accordance with GAAP, we base our estimates on historical experience and on various other financial information  included elsewhere in this report.  Some  of the  information  contained in this  discussion and analysis or set forth elsewhere  in  this  report,  including  information  with  respect  to  our  plans  and  strategy  for  our  business and related financing, includes forward-looking statementsassumptions that involve  risks  and  uncertainties.

We  qualify  as  an  “emerging  growth  company”we believe are reasonable under the JOBS  Act.  As a  result,  we are permitted  to,  and intend to, rely  on  exemptionscircumstances. Actual results may differ from certain  disclosure  requirements.  For so long as we  are an emerging  growth  company,  we will not be required to:these estimates under different assumptions or conditions.

·        Have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the  Sarbanes-Oxley Act;Off-Balance Sheet Arrangements

·        Provide  an auditor attestation with respect to management’s report on the effectiveness of our internal controls over  financial reporting;

·        Comply  with any requirement that may be adopted by the  Public Company Accounting Oversight Board  regarding mandatory audit firm rotation or a supplement  to the auditor’s report providing  additional  information about the audit and the  financial statements (i.e., an auditor discussion and analysis);

·        Submit certain executive compensation matters to shareholder advisory votes, such as “say-on-pay” and “say-on-frequency;” and

·        Disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation.

We  will  remain  an  “emerging  growth  company”  for  up  to five  years,  or  until the  earliest  of (i) the  last  day of the first  fiscal  year  in  which  our  total  annual  gross  revenues exceed  $1  billion, (ii) the  date  that  we become  a  “large  accelerated  filer” as defined  in  Rule  12b-2  under  the  Securities  Exchange  Act  of  1934,  which  would  occur  if  the market value  of  our ordinary shares that is  held  by  non-affiliates  exceeds  $700  million  as  of  the  last  business  day  of  our most  recently  completed second fiscal  quarter or  (iii)  the  date  on which  we  have  issued  more  than  $1 billion  in  non-convertible debt  during  the  preceding  three  year  period.  Even  if  we  no  longer  qualify  for  the exemptions  for  an  emerging  growth  company,  we  may  still  be, in  certain  circumstances,  subject  to  scaled disclosure requirements as a smaller  reporting company.  For example, smaller reporting  companies,  like  emerging growth  companies,  are  not  required  to  provide  a  compensation  discussion  and  analysis  under  Item 402(b) of Regulation S-K or auditor attestation of internal controls over financial reporting.

Under the JOBS Act, an “emerging growth company” can delay adopting new or revised accounting standards until such time as those standards apply to private companies, as set forth in Section 7(a)(2)(B) of the Securities Act. We chose not to take advantage of such extended transition period for complying with any new or revised accounting standards and acknowledge that this election is irrevocable.

Our cash balance is $1,073 as of July 31, 2018. We have been utilizing and may utilize funds from Yulia Lazaridou, our Chairman and President, who has informally agreed to advance funds to allow us to pay for offering costs, filing fees, and professional fees. As of April 30, 2018, Ms. Lazaridou advanced us $7,650. The next two years Ms. Lazaridou does not intend to request to be repaid before the Company will fully implement the plan of operations and begin to increase the revenues to the level of sufficient income to manage the business in full. To implement our plan of operations for the next twelve months’ period, we require a minimum of $40,000 of funding from the offering. There is no guarantee that such level will ever be reached.

 15 

Being a newly organized company, we have operating history which includes developing our business plan, setting up our web site, and purchasing our firstly needed equipment. After twelve months’ period, we may need additional financing. We do not currently have any arrangements for additional financing. The Company’s registration office is located at Kleonos 8A, Lakatameia, Nicosia, Cyprus, 2333. Our management believes that 3D design visualization business has more opportunities and more the production area is more extensive in Cyprus because of that reason we decided to start our operations there. Our phone number is 35722000344.

We are a newly organized company. Our full business plan entails activities described in the Plan of Operation section below. Long term financing beyond the maximum aggregate amount of the offering may be required to expand our business. The exact amount of funding will depend on the scale of our development and expansion. Our expansion may include expanding our office facilities, hiring service personnel and entering into agreements with new clients. We have not planned our expansion, and we have not decided yet on the scale of our development and expansion and on the exact amount of funding needed for our long-term financing.

The material terms of our sales contracts with customers contain performing production and postproduction services for the Customers’ design in accordance to Customer’s needs. The period term of such contracts is one year. Customers agreed that the price for the service provided by Minaro Corp. to the Customer should be specified in the invoice provided by Minaro Corp. to the Customer.

Our independent registered public accountant MICHAEL GILLESPIE & ASSOCIATES, PLLC has issued a going concern opinion. This means that there is a substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills.

To meet our needs for cash we are attempting to raise money from the offering and from selling our 3D design visualization service. We believe that we will be able to raise enough money through the offering or through selling our service to continue our proposed operations but we cannot guarantee that once we continue operations we will stay in business after doing so. If we are unable to successfully find customers, we may quickly use up the proceeds from the offering and will need to find alternative sources. Now, we have not made any arrangements to raise additional cash, other than through the offering. We are signed the agreement with our first customer. We are in negotiations with one of our potential customers and we believe that we might get a production order from this customer soon.

If we need additional cash and cannot raise it, we will either have to suspend operations until we do raise the cash, or cease operations entirely. Even if we raise $80,000 from the offering, it will last one year, but we may need more funds for business operations in the next year, and we will have to revert to obtaining additional money.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

LIMITED OPERATING HISTORY; NEED FOR ADDITIONAL CAPITAL

There is no historical financial information about us upon whichresources that are material to base an evaluation of our performance. We are in start-up stage operations and have generated no revenues to date. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including capital resources and possible cost overruns due to price and cost increases in services and products.investors.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.

 16 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

A smaller reporting company is not required to provide the information required by this Item.

ITEM 4. CONTROLS AND PROCEDURES

Our management is responsible for establishingEvaluation of Disclosure Controls and maintaining a system of disclosureProcedures

Disclosure controls and procedures (as defined in Rule 13a-15(e)are controls and 15d-15(e) under the Exchange Act)other procedures that isare designed to ensure that information required to be disclosed by us in theour reports that we filefiled or submitsubmitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the Commission’sSEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in thecompany reports that it filesfiled or submitssubmitted under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officersour Chief Executive Officer and principal financial officer or officers, or persons performing similar functions, as appropriatePrincipal Financial Officer, to allow timely decisions regarding required disclosure.

An evaluation was conductedAs required by Rules 13a-15 and 15d-15 under the supervisionExchange Act, our Chief Executive Officer and with the participation of our managementPrincipal Financial Officer carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of July 31, 2018.2023. Based on thatupon his evaluation, our managementChief Executive Officer and Principal Financial Officer concluded that, as of July 31, 2023, our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) were deemed effective.

We do not expect that our disclosure controls and procedures werewill prevent all errors and all instances of fraud. Disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not effective asabsolute, assurance that the objectives of such datethe disclosure controls and procedures are met. Further, the design of disclosure controls and procedures must reflect the fact that there are resource constraints, and the benefits must be considered relative to ensure that information required to be disclosedtheir costs. Because of the inherent limitations in the reportsall disclosure controls and procedures, no evaluation of disclosure controls and procedures can provide absolute assurance that we file or submithave detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.all potential future conditions.

Changes in Internal ControlsControl over Financial Reporting

There wasDuring the six months ended July 31, 2023, there has been no change in the Company’sour internal control over financial reporting during the quarterly period covered by this report that has materially affected, or is reasonably likely to materially affect, the Company’sour internal control over financial reporting.

PART II.  II—OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

ThereFrom time to time, we are involved in ordinary routine litigation typical for companies engaged in our line of business. As of the date of this Quarterly Report on Form 10-Q, there are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company.  Company that we believe would be likely, individually or in the aggregate, to have a material adverse effect on our financial condition or results of operations.

NoneITEM 1A. RISK FACTORS

Smaller reporting companies are not required to provide disclosure pursuant to this Item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the six months ended July 31, 2023, the Company issued unregistered equity securities as follows:

NoneThe above securities issuances were exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemptions provided by Regulation D and Section 4(a)(2), as applicable under the Securities Act.

NoneITEM 3. DEFAULTS UPON SENIOR SECURITIES

NoneNone.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

NoneITEM 5. OTHER INFORMATION

 17 (a) None.

(b) There have been no material changes to the procedures by which security holders may recommend nominees to our Board of Directors since we last provided disclosure in response to the requirements of Item 407(c)(3) of Regulation S-K promulgated under the Exchange Act.

ITEM 6. EXHIBITS

The following exhibits are included as part of this report by reference:

SIGNATURES

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1933,1934, the registrant has duly caused this registration statementreport to be signed on its behalf by the undersigned thereunto duly authorized in Cyprus on September 4­, 2018.authorized.