LOS ANGELES, May 11, 2016 (GLOBE NEWSWIRE) -- P. Vincent Mehdizadeh, Co-Founder of PINEAPPLE EXPRESS, INC. (OTCPink:PNPL) (the “Company”), commented on the SEC’s temporary suspension of PNPL trading from April 28, 2016 through May 11, 2016. The Company’s stock is eligible to resume trading May 12, 2016.
The SEC cited the following in its suspension order:
“The Commission temporarily suspended trading in the securities of PNPL because of recent, unusual, or unexplained market activity in the company’s stock that raises concerns about the adequacy of publicly-available information regarding the company.”
“The SEC’s order alludes to secondary market trading activity in PNPL’s stock, which the Company has no control over. I can confirm that the SEC had not been in contact with the Company, on any matters, prior to the suspension,” stated Vincent Mehdizadeh, Co-Founder of Pineapple Express, Inc. “To date, the Company has not received any written correspondence from the SEC on any matters. The Company’s management is under advice from its SEC compliance counsel not to comment on the suspension and instead focus on getting its financial audit completed and filing of a registration statement with the SEC, which the Company has stated publicly it is in the process of completing. I’m not part of management or the board of directors for the Company but feel compelled to communicate with shareholders in this instance so they are made aware of the circumstances surrounding the suspension.”
About P. Vincent Mehdizadeh
Mr. Mehdizadeh is arguably an expert in the medical cannabis industry and is the inventor of the patent-pending “Top-Shelf” SDS (Safe & Display System) exclusively being developed for Pineapple Express.
Mr. Mehdizadeh has been actively involved as a consultant in the legal cannabis industry for nearly a decade and has also furthered the industry through donations and funding of educational campaigns. Mehdizadeh was responsible for funding and the creation of the Marijuana Policy Project “Consume Responsibly” campaign, as well as the Americans For Safe Access “Medicate Responsibly” campaign aimed at educating medical and recreational cannabis users in the states that allow consumption of cannabis about its health effects and dosage information. Mehdizadeh has donated over $2 million dollars to Americans for Safe Access (ASA), Marijuana Policy Project (MPP), Drug Policy Alliance (DPA), Law Enforcement Against Prohibition (LEAP), and St. Jude Children’s Research Hospital.