LOS ANGELES, Oct. 06, 2015 (GLOBE NEWSWIRE) --
Pineapple Express, Inc. (OTC Pink:PNPL) (the "Company"), a Wyoming corporation engaged in cannabis industry consulting, announced today that it has been assigned a patent application which is pending with the USPTO related to an invention called the “Top-Shelf” Display Safe System.
Photos accompanying this announcement are available at
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The patent-pending Top-Shelf Display Safe System (shown in the images above), exclusively developed for the Company by one of its founders, converts four critical components of the current dispensary model and combines them into a single, technologically advanced, and stylish unit. The system allows for a dispensary operator to:
- Safely and attractively display cannabis products,
- Secure all products in an armored exterior safe with interior locked compartments,
- Weigh all products in real-time using dozens of electronic scales housed in the locked compartments within the unit,
- Transmit real-time inventory data to an integrated point-of-sale and inventory management system, and
- Authenticate transactions to consumers for legal compliance and record-keeping purposes.
The Company believes the Top-Shelf system could be the most powerful management tool available to cannabis dispensaries today. The system will also have the ability to work in concert with popular POS systems currently in use by dispensaries.
The Company has contracted with Pulse Design Group, an award-winning design firm with over 10 years of product design and manufacturing experience, to develop and produce the Top-Shelf system. The Company anticipates production and sales of the Top-Shelf system to commence in the first quarter of 2016 with a target retail price of $25,000. Lease and financing options will be made available to dispensaries on approved credit.
“The Company’s Founder and Technology Consultant, Vincent Mehdizadeh, is the inventor of the Top-Shelf Display Safe System. He has been in the forefront of the legal cannabis industry since 2007 and has previously invented, patented, and developed other concepts related to secure dispensing and monitoring of cannabis at dispensaries and cultivation facilities. We are fortunate to have him create and develop new and exciting products for use in canna-businesses exclusively for Pineapple Express,” stated Matthew Feinstein, CEO and Chairman. “After speaking with numerous dispensary owners all over the country, it became clear to me that Top-Shelf could address many issues present in today’s dispensaries such as: protection from loss during burglaries and robberies, accurate transaction tracking, increased inventory management, and protection from internal theft and diversion. All this is achieved while not hindering the consumer experience at cannabis dispensaries. It is expected that the increased oversight and loss prevention achieved for a dispensary that uses Top-Shelf could save the dispensary thousands of dollars a year.”
The Company will be offering the Top-Shelf system as part of its comprehensive branding and business development package available to every dispensary to which it provides consulting services or leases space. Eventually the Company envisions that the Top-Shelf system will be an integral part of the anticipated Pineapple Express branded Company-owned retail stores, when federal laws permit.
“Out of all my contributions to the cannabis industry, I’d have to say I’m most proud of this invention and its long-term implications,” stated Mr. Mehdizadeh. “The first thing apparent when you walk into a dispensary is the jars of unsecure marijuana on display and prone to many risk factors for the dispensary, its operators, and also the consumers. Not only does this invention mitigate security and safety concerns, but it also uses electronic scales held in locked compartments within the unit that individually weigh the dispensary’s inventory of cannabis products perpetually while keeping them out-of-sight and fully secure. The inventory data collected from the electronic scales is communicated back to the POS software after every dispensing transaction. The overwhelming benefits of the Top-Shelf system might be relevant to all demographics within the cannabis industry, such as: operators, consumers, state departments that regulate canna-businesses, industry advocates, and law enforcement. I am truly excited about the future of this invention.”
About Pineapple Express Inc.
The Company is based in Los Angeles, California. Through our operating subsidiary Better Business Consultants, Inc. DBA MJ Business Consultants, we provide capital to our canna-business clientele, lease real properties to those canna-businesses, and provide consulting and technology to develop, enhance, or expand existing and newly formed infrastructures. We intend to create a nationally branded chain of cannabis retail stores under the "Pineapple Express" name as soon as federal laws allow, which will be supported by anticipated Company-owned cultivation and processing facilities, and will feature products from anticipated Company-owned manufacturers. As long as cannabis remains federally illegal our operations will be limited to consulting, product licensing, leasing to and investing in existing and new canna-businesses, selling industry specific technology, and providing ancillary support services. We believe that our competitive advantages include our wealth of experience, business model, exclusive proprietary technology, and key industry contacts in an industry that is foreign to most. It is our expectation that these factors will set us apart from most of our competitors.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business, including that we have a limited operating history, are dependent upon key personnel whose loss may adversely impact our business, and some of our business activities and the business activities of some of our customers and counterparties, while believed to be compliant with applicable state law, may be illegal under federal law because they violate the Federal Controlled Substances Act. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.