Pineapple Financial Inc.

Overview

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• TickerPAPL on NYSE²
• IndustryFinance Services²
• HeadquartersNorth York, Canada²
• Incorporated inBritish Columbia, Canada⁴
• Business address111 Gordon Baker Road, Suite 200, North York, M2H3R1⁴
• Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company⁴
• Legal formCorporation²
• Kind of organizationReal estate vehicle²
• LEI984500C4FLC4D6568631²
• StatusActive²
• LEI statusLapsed (not renewed)²
• Registered address111 Gordon Baker Rd 200, M2H 3R1 North York, Canada²
• Registered withMinistry of Government and Consumer Services, 2487269²

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Bank, Community Trust, Bank of Montreal (BMO) and Desjardins Mortgage Financing Services.⁵ From its latest annual report

Corporate structure

Pineapple Financial Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Pineapple Financial Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Intangibles and goodwill

Properties, in its own words

Our principal executive offices are located at Unit 200, 111 Gordon Baker Road, North York, Ontario M2H 3R1. The Company leases all its office premises in Ontario, Canada. The Company extended the current premises of 4,894 sq. ft. lease to January 1, 2030 and acquired additional premises of 8,368 square feet adjacent to the current office premises with the same landlord. The additional premises lease also expires on January 1, 2030. The total area of use by The Company is 13,262 sq. ft. The Company recognized a right-of-use asset and corresponding lease liability in respect of this lease. We believe that our current office space will be adequate for the foreseeable future.

In addition to its Ontario offices, the Company previously leased premises located at Unit #601, 2950 Glen Drive, Coquitlam, British Columbia, under a five-year lease that commenced August 1, 2023. On August 21, 2025, the Company executed a Lease Surrender Agreement with the landlord, providing for the surrender and termination of the lease effective July 31, 2025. Under the agreement, the Company delivered vacant possession of the premises, surrendered all rights under the lease, and paid a surrender fee of $24,875.75 plus applicable taxes. The landlord accepted the early surrender subject to the terms outlined in the agreement.

Item 2 of the 10-K filed Dec 3, 2025.⁵

Leadership

Who has led Pineapple Financial Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerShubha-Jeet Dasgupta Jul 18, 2024 to now¹²
• Chief financial officerSyed Sarfraz Habib Jul 30, 2024 to now¹³
• Chief operating officerKendall Leo Marin Jul 22, 2024 to now¹⁴

Named in SEC Form D filings

People the company listed in its private-offering notices.

• Executive OfficerSarfraz Habib named Sep 17, 2025²⁰
• DirectorDrew Green named Sep 17, 2025²⁰
• DirectorPaul Baron named Sep 17, 2025²⁰

Timeline

1. Oct 15, 20268-K Executive or director change; Regulation FD disclosure; Other events²¹
2. Jun 3, 20268-K Change of auditor; Other events²²
3. Apr 22, 20268-K Regulation FD disclosure; Other events²³
4. Mar 18, 20268-K Shareholder vote²⁴
5. Feb 10, 20268-K Executive or director change²⁵
6. Dec 29, 20258-K Executive or director change; Other events²⁶
7. Dec 9, 20258-K Entered a material agreement²⁷
8. Nov 12, 20258-K Entered a material agreement²⁸
9. Nov 4, 20258-K Entered a material agreement; Shareholder vote²⁹
10. Oct 6, 20258-K Entered a material agreement; New debt or obligation³⁰
11. Sep 10, 20258-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure³¹
12. Sep 2, 20258-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure³²
13. Jul 18, 2024New chief executive Shubha-Jeet Dasgupta becomes CEO¹²
14. Feb 14, 2023Founded Pineapple Financial Inc. is founded²

Calendar

Coming up

1. Dec 2, 2026Reports results for the quarter ending Aug/2026³³

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

170 filings to the SEC since October 2021: 4 annual reports, 9 quarterly reports, 27 major events, 47 insider forms, 2 large holders, 1 private raises, 80 other. The latest 20:

1. Oct 15, 20268-K EDGAR
2. Jul 20, 202610-Q EDGAR
3. Jul 15, 2026NT 10-Q EDGAR
4. Jun 3, 20268-K EDGAR
5. Apr 22, 20268-K EDGAR
6. Apr 13, 202610-Q EDGAR
7. Apr 13, 20263 EDGAR
8. Mar 18, 20268-K EDGAR
9. Feb 10, 20268-K EDGAR
10. Feb 6, 2026DEF 14A EDGAR
11. Jan 21, 2026S-8 EDGAR
12. Jan 21, 202610-Q EDGAR
13. Jan 15, 2026NT 10-Q EDGAR
14. Jan 5, 2026SCHEDULE 13D EDGAR
15. Jan 5, 20263 EDGAR
16. Dec 30, 2025EFFECT EDGAR
17. Dec 29, 20258-K EDGAR
18. Dec 23, 2025CORRESP EDGAR
19. Dec 22, 2025CORRESP EDGAR
20. Dec 18, 2025CORRESP EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

46 open-market trades by officers, directors and large owners since October 2021: 46 buys and 0 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• Injective FoundationSCHEDULE 13D, 1 filing Jan 5, 2026³⁴
• Kendall Leo MarinSCHEDULE 13D, 1 filing Jun 24, 2025³⁵

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

Money raised

Private offerings the company reported to the SEC on Form D.

1. Sep 4, 2025Raised $100 million in a private offering of securities Form D: 26 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Pineapple Financial Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARPineapple Financial Inc.¹
• CIK0001938109
• Employer ID (EIN)00-0000000⁵
• Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company⁵
• Incorporated inCanada⁵
• Industry code (SIC)6199 Finance Services¹
• SEC reviewing officeOffice of Finance, Division of Corporation Finance¹
• Business address111 Gordon Baker Road, Suite 200, North York, M2H3R1, British Columbia, Canada¹
• Phone416-371-0835¹
• Shares outstanding25,271,197 as of Jul 20, 2026¹⁰
• Public float$5.4M as of Aug 31, 2025⁵
• AuditorMNP LLP, Mississauga, Canada PCAOB ID 1930; no auditor attestation of internal control over financial reporting⁵
• On EDGAR sinceSep 1, 2022¹
• Filings170 in all: 4 (38), 8-K (26), CORRESP (21), UPLOAD (10), 10-Q (9), 3 (9), S-1/A (9), DEF 14A (5)¹
  All 31 form types

  EFFECT (5), S-1 (4), 10-K (3), DEFA14A (3), NT 10-K (3), NT 10-Q (3), 424B4 (2), DRS (2), DRSLTR (2), PRE 14A (2), SCHEDULE 13D (2), 10-K/A (1), 424B3 (1), 424B5 (1), 8-A12B (1), 8-K/A (1), CERT (1), D (1), DRS/A (1), PRER14A (1), S-3 (1), S-3/A (1), S-8 (1)

• Latest filingsAnnual report (10-K) Dec 3, 2025
  Quarterly report (10-Q) Jul 20, 2026
  Proxy statement (DEF 14A) Feb 6, 2026
  Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

From the cover page of the 10-K filed Dec 3, 2025 (Section 12(b) of the Exchange Act).⁵

Risk factors and legal proceedings

The risks Pineapple Financial Inc. names in Item 1A of its 10-K filed Dec 3, 2025: 58 risks under these headings, as written.⁵

• Risks Related to the Company
• We intend to use the net proceeds from the Private Placement to purchase digital assets, including INJ, the price of which has been, and will likely continue to be, highly volatile. Our operating results and share price may significantly fluctuate, including due to the highly volatile nature of the price of such digital assets and erratic market movements.
• We have adopted a digital asset treasury strategy with a focus on INJ, and we may be unable to successfully implement this new strategy.
• Our Common Shares may trade at a discount to our net asset value, and investors could experience losses unrelated to the performance of our underlying digital asset holdings.
• Our shift towards an Injective-focused strategy requires substantial changes in our day-to-day operations and exposes us to significant operational risks.
• The concentration of our INJ holdings enhances the risks inherent in our Injective-focused strategy.
• If the Injective network is disrupted or encounters any unanticipated difficulties, the value of INJ could be negatively impacted.
• INJ and other digital assets are novel assets, and are subject to significant legal, commercial, regulatory and technical uncertainty, which could materially adversely affect the Company’s financial position, operations and prospects.
• Changes in regulatory interpretations could require us to register as a money services business or money transmitter, leading to increased compliance costs or operational shutdowns.
• If any of the digital assets that we hold are classified as a security, we may be subject to extensive regulation, which could result in significant costs or force us to cease operations.
• The classification of digital assets that we hold as a commodity could subject us to additional CFTC regulation, resulting in significant compliance costs or the cessation of certain operations.
• We are not subject to legal and regulatory obligations that apply to investment companies such as mutual funds and exchange-traded funds, or to obligations applicable to investment advisers.

Legal proceedings

From time to time, we may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business.

On June 2025, Centurion One Capital Corp., Kia Besharat, and Break Point Ventures Ltd. commenced a civil proceeding in the Ontario Superior Court of Justice (Court File No. CV-25-00744393-0000) against Pineapple Financial Inc. The claim relates to alleged fees and compensation under two consulting and advisory agreements: the March 1 2022 Consulting Agreement with Mr. Kia Besharat and the January 10 2024 Financial Advisory Services Agreement with Centurion One Capital Corp.

The Company has filed a Statement of Defense dated July 10 2025, denying all allegations and asserting that both agreements were properly terminated in November 2024 following repudiation by the plaintiffs. Pineapple maintains that all amounts owing under the contracts were fully settled prior to termination, that no referral or advisory fees are payable, and that the plaintiffs are not entitled to any additional relief, including oppression or unjust-enrichment claims

Statement of Defense

The opening of Item 3, Legal Proceedings.⁵