PNXP
Industry:
Software

DESCRIPTION

Pineapple Express Cannabis Company is a small holding company focused on the legal cannabis industry, currently transitioning from cannabis retail to cannabis technology. The company was originally a shell, entered cannabis in 2022 through a 50% stake in PCI, a California dispensary operator, then divested that stake in January 2025 in exchange for a reduction in an intercompany promissory note. In March 2025, the company acquired a majority interest in GROOVY, a blockchain-based PaaS platform for the cannabis supply chain. GROOVY is built on Hyperledger Fabric and targets growers, retailers, and regulators with tools for product authentication via NFT-based QR codes, seed-to-sale traceability, lab result tracking, compliance integrations, and a consumer-facing loyalty app. GROOVY also includes a genetic library product that enables cannabis strain IP registration and royalty distribution. The intended business model is subscription or usage-based fees charged to cannabis industry participants, with potential royalty streams from the genetics library. GROOVY is early-stage with no disclosed revenue, and the company itself has no employees and is run by a single officer and director, with offices in Atlanta and Bogotá. The business is effectively pre-revenue in its current form.

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