SEC Filing Summary: Pineapple Financial Inc. (PAPL)
Business Context and Reporting Period
This Form 8-K Current Report was filed by Pineapple Financial Inc. on May 19, 2025, covering events occurring on May 14, 2025. The Company, incorporated in Canada, is an emerging growth company with common shares previously listed on NYSE American under the symbol "PAPL".
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory status and listing changes rather than financial performance data.
Material Changes
- Delisting Notice: On May 14, 2025, NYSE American suspended trading and initiated delisting proceedings for the Company's common shares.
- Reason for Delisting: The Exchange determined the Company is no longer suitable for listing under Section 1003(f)(v) of the Company Guide due to the low selling price of the Common Shares.
- Trading Status Change: Effective May 15, 2025, the Company's shares began trading on the OTC Pink Market under the new symbol "PAPLF".
Outlook, Risks, and Management Commentary
- Appeal Process: The Company intends to request a review of the delisting determination by the Listings Qualifications Panel. The deadline for this request is May 21, 2025. There is no assurance the appeal will be successful.
- Future Listing Plans: The Company intends to apply for quotation on the OTCQB market, though approval is not guaranteed.
- Risks: Forward-looking statements regarding the appeal and future trading status are subject to risks and uncertainties. Actual results may differ materially from expectations.
Key Facts for Investor Verification
- Verify the current trading symbol "PAPLF" on the OTC Pink Market.
- Monitor the status of the Company's appeal to the NYSE American Listings Qualifications Panel by May 21, 2025.
- Confirm whether the Company successfully applies for OTCQB quotation.
- Review the press release dated May 19, 2025 (Exhibit 99.1) for additional details on the low share price issue.