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Pineapple Financial Inc. SEC Filings

PAPL NYSE

Welcome to our dedicated page for Pineapple Financial SEC filings (Ticker: PAPL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.

Pineapple Financial Inc. (NYSE American: PAPL) files a range of documents with the U.S. Securities and Exchange Commission that shed light on its mortgage technology and brokerage operations, capital structure, and digital asset treasury strategy. As a Canadian mortgage technology and brokerage company and an emerging growth company, Pineapple uses SEC filings to describe its business model, risk factors, and material agreements.

Key filings include current reports on Form 8-K, which Pineapple uses to disclose material definitive agreements, private placements, amendments to securities purchase agreements, and the formation of advisory committees. For example, 8-K filings describe the company’s securities purchase agreement and subscription receipt agreement for a private placement intended to fund a $100 million Injective (INJ) digital asset treasury strategy, as well as subsequent amendments to escrow deadlines and registration requirements. Other 8-Ks outline the creation of a Special Advisory Committee to oversee the digital asset treasury strategy, the appointment of a new director nominated by the Injective Foundation, and entry into an ISDA Master Agreement and related credit support annex to manage risk associated with the INJ treasury strategy.

Pineapple’s Form S-1 registration statement provides a detailed description of the company as a Canadian mortgage technology and brokerage company, including its mortgage brokerage services, technology solutions, and back-office and pre-underwriting support services. The S-1 also covers the resale of common shares issued in connection with the private placement, outlines the company’s status as a smaller reporting company and emerging growth company, and sets out risk factors and plan of distribution information for selling shareholders.

Proxy materials such as the DEF 14A definitive proxy statement document shareholder meetings and proposals, including approval of the issuance of common shares in exchange for subscription receipts and amendments to the company’s articles to remove transfer restrictions on common shares. These materials explain voting procedures, shareholder rights, and the matters brought before shareholders.

On Stock Titan’s SEC filings page for PAPL, users can review these filings as they are made available through EDGAR, including 8-Ks describing digital asset treasury arrangements, subscription receipt mechanics, and advisory agreements, as well as the S-1 and proxy statements that provide broader context on Pineapple’s mortgage technology business and capital markets activities. AI-powered summaries can help interpret complex agreements, highlight key terms in the securities purchase and registration rights agreements, and clarify how Pineapple’s Injective-based treasury strategy and mortgage technology operations are reflected in its regulatory disclosures.

Rhea-AI Summary

Pineapple Financial Inc. approved new employment agreements for its Chief Executive Officer, Shubha Dasgupta, and President and Chief Operating Officer, Kendall Marin. Each agreement runs for three years from February 5, 2026, with possible one-year extensions if agreed in writing at least 30 days before expiry.

Each executive will receive a base salary of $280,000 per year under the new contracts, which replace their prior employment agreements. The Board also approved a new agreement for Chairman Drew Green, who will receive a $20,000 monthly board fee, with his term dependent on ongoing nomination and re-election by shareholders or up to five years.

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Pineapple Financial Inc. is asking stockholders to vote at its March 13, 2026 annual meeting on two key items: electing six directors and ratifying MNP LLP as independent auditor for the fiscal year ending August 31, 2026. The record date for voting is February 6, 2026. The proxy details board responsibilities, committee structures, governance practices, insider trading and clawback policies, and executive and director compensation.

New employment agreements raise base salaries for the CEO and President/COO to $280,000 each and increase the Chairman’s fee to $20,000 per month. The filing also outlines equity incentive plans, with 100,219 stock options outstanding under shareholder‑approved plans and 5,071,074 shares still available for future grants, as well as principal shareholdings, including three investors each holding over 5% of common shares.

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Pineapple Financial Inc. reported a sharp deterioration in results for the three months ended November 30, 2025, and flagged substantial doubt about its ability to continue as a going concern. Revenue slipped to $721,727 from $766,074, while mortgage volume rose to $457.1M, showing higher activity but weaker net economics.

The company posted a net loss of $6,435,085 versus $656,894 a year earlier, mainly from a $6,140,379 non‑cash fair value loss on Injective crypto assets, whose value fell to $5,764,245 from an $11,896,002 cost base. Operating expenses excluding this loss declined as selling, marketing, and salary costs were cut.

As of November 30, 2025, Pineapple had negative shareholders’ equity of $(5,488,511), an accumulated deficit of $19,831,524, and a working capital deficit of $13,003,160. It also carried an $11,983,087 FalconX loan classified as current. Subsequent to quarter‑end, the company closed a $100M equity financing linked to the Injective initiative, received about $19.0M in cash, and repaid the FalconX loan.

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Pineapple Financial Inc. filed a notification that it will be late in submitting its Quarterly Report on Form 10-Q for the quarter ended November 30, 2025. The company explains that it needs additional time to finalize its financial statements and for its independent public accounting firm to complete its audit. Pineapple Financial states it will use its best efforts to try to file the Form 10-Q within the five calendar-day extension period permitted under Rule 12b-25(b) of the Securities Exchange Act.

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Injective Foundation and Glenn Kennedy filed a Schedule 13D reporting beneficial ownership of 9,615,385 Pineapple Financial Inc. common shares, representing 36.99% of the class. These shares arise from subscription receipts purchased by the Foundation, each exchangeable into one common share after escrow conditions were satisfied.

The Foundation acquired 9,615,385 subscription receipts at a purchase price of $4.16 per receipt, for an aggregate consideration of 2,877,697 INJ tokens, as part of Pineapple’s INJ digital asset treasury strategy. The filing notes that the Foundation holds the shares directly, while Kennedy may be deemed to share voting and dispositive power but disclaims beneficial ownership.

The Foundation and Kennedy may discuss Pineapple’s business, strategy and board composition with management and other shareholders. Under the purchase agreement, Pineapple added Anthony Georgiades to its board after consultation with the Foundation. A lock-up agreement restricts the Foundation from disposing of its securities for 12 months after the effective date, with staged 25% releases if the share price reaches $7.588, $11.382, $15.176 or $18.970.

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Pineapple Financial Inc. reported an initial statement of insider holdings related to director Glenn Kennedy. The filing shows Injective Foundation directly holds 9,615,385 common shares of Pineapple Financial Inc., and this position may be deemed beneficially owned by Mr. Kennedy because, as a director of Injective Foundation, he has investment and dispositive control over these securities. The filing also states that Mr. Kennedy disclaims beneficial ownership, has no pecuniary interest in these shares, and that this disclosure should not be taken as an admission that he is the beneficial owner.

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Pineapple Financial Inc. reported that its board has appointed Anthony Georgiades, nominated by the Injective Foundation, as a new director effective December 18, 2025. His appointment fulfills a commitment under a previously disclosed securities purchase agreement related to a private placement of subscription receipts priced at $3.80 or $4.16 per subscription receipt for different purchasers.

The board also created a Special Advisory Committee to oversee the company’s digital asset treasury strategy and treasury reserve policy. Georgiades will chair this committee, which initially includes directors Drew Green and Paul Baron. The committee may hire independent legal, financial, and compliance advisors, including three strategic advisors identified by the Injective Foundation, each receiving annual cash compensation of $5,000.

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Pineapple Financial Inc. is registering 25,682,046 common shares for resale by existing investors, largely tied to a recent private placement that raised approximately $100 million to fund an INJ-focused digital asset treasury strategy. The resale includes shares issuable from subscription receipts and 1,039,346 warrant shares for a consultant, and the company will not receive any proceeds from investors’ sales. As of December 12, 2025, 1,345,941 common shares were outstanding, so the registered amount is large relative to the current equity base. The company plans to concentrate its treasury in INJ tokens, use staking and derivatives, employ external asset managers, and has drawn on a $15 million credit facility to buy additional INJ, while highlighting extensive risks around digital-asset volatility, regulation, custody, illiquidity and potential discounts of its share price to net asset value, alongside its existing Canadian mortgage technology and brokerage business.

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Pineapple Financial Inc. (PAPL) filed an amended annual report to revise its assessment of controls and procedures for the year ended August 31, 2025. The company now concludes that its disclosure controls and procedures were not effective as of that date, citing the late filing of its annual report and a material weakness in internal control over financial reporting related to segregation of duties in the finance function.

As of August 31, 2025, the aggregate market value of common shares held by non-affiliates was about $5.391 million, and 1,345,941 common shares were outstanding as of December 12, 2025. Management outlines steps taken and planned to improve controls, including hiring qualified personnel, enhancing review and approval processes, restricting system access, and engaging external expertise, while stating that the financial statements still fairly present the company’s results in conformity with GAAP.

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FAQ

What is the current stock price of Pineapple Financial (PAPL)?

The current stock price of Pineapple Financial (PAPL) is $0.6677 as of March 11, 2026.

What is the market cap of Pineapple Financial (PAPL)?

The market cap of Pineapple Financial (PAPL) is approximately 16.8M.

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PAPL Stock Data

16.84M
7.97M
Mortgage Finance
Finance Services
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