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Pineapple Financial Inc. (OTC Pink: PAPLF), a Canadian mortgage technology and brokerage company, has announced a 1-for-20 reverse stock split effective July 16th, 2025. The reverse split will reduce outstanding shares from 20,092,025 to 1,004,675 shares.
The company aims to increase its per-share market price to regain compliance with NYSE American's Listing Qualifications. Trading will temporarily occur under the symbol "PAPLD" for 20 business days before reverting to PAPLF. Fractional shares will be rounded up to the nearest whole share, and the split will not alter shareholders' ownership percentages except for minor rounding adjustments.
Pineapple Financial (OTC Pink: PAPLF) reported its Q3 fiscal 2025 results, showing improved financial performance and strategic positioning. The company achieved 15.23% growth in Gross Billings to $14.23 million and 11.78% revenue growth to $2.26 million. Operating expenses decreased by 3.48% to $4.25 million, while operating losses narrowed by 16.76% to $1.99 million.
The company announced a 1-for-20 reverse stock split to support NYSE American relisting requirements. Pineapple's PineappleONE platform now serves over 700 brokers across Canada, with significant opportunity ahead as over $400 billion in Canadian mortgages are set to renew by 2026. The company maintains access to a $15 million Equity Line of Credit for future liquidity needs.
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