Pineapple Express Cannabis Company Approves Authorized Share Increase to 500,000,000

Measured 75M to 500M increase restores operational headroom, protects the existing public float, and capitalizes the ExecutivesBOT growth roadmap.

Pineapple Express Cannabis Company (OTCMKTS:PNXP)

ATLANTA, GA, UNITED STATES, May 12, 2026 /EINPresswire.com/ -- Pineapple Express Cannabis Company (OTCID: PNXP) (“PNXP” or the “Company”), the publicly-traded issuer that operates the ExecutivesBOT autonomous AI executive platform, today announced that its Board of Directors has approved an amendment to the Company’s Amended and Restated Articles of Incorporation increasing the authorized number of shares of common stock, par value $0.001 per share, from 75,000,000 to 500,000,000. The amendment will be filed with the Nevada Secretary of State in accordance with Chapter 78 of the Nevada Revised Statutes.

Why Now: The Company Is Out of Operational Headroom
As of May 11, 2026, the Company has 69,170,738 shares of common stock issued and outstanding against an authorized ceiling of 75,000,000 — approximately 92.2% of the current authorization has been issued, leaving headroom of only 5,829,262 shares (approximately 7.8%).
That residual capacity is insufficient to:
1. Complete settlement of existing legacy convertible obligations on negotiated terms;
2. Fund the planned commercial expansion of the ExecutivesBOT platform; or
3. Maintain the Board’s flexibility to respond to any future strategic transaction.

In the absence of an increased authorization, the Company would be forced to operate within a vanishingly small share reserve while continuing to face conversion demand under legacy instruments — an outcome that the Board, after deliberation, determined would be materially adverse to the existing public float.

A Disciplined, Not Maximal, Increase
The proposed new authorization of 500,000,000 shares represents approximately 7.2x the Company’s currently outstanding share count. The Board specifically considered and rejected larger authorization requests, and adopted a measured 500,000,000-share ceiling for three reasons that directly benefit existing stockholders:
1. Operational headroom without invitation to over-issue. A 500,000,000-share ceiling restores meaningful runway while remaining well below the multi-billion-share authorizations characteristic of distressed micro-cap issuers — an authorization profile the Board considers inconsistent with disciplined capital stewardship and detrimental to long-term shareholder value.
2. Defense of the existing public float. As of the most recent transfer agent report, the Company’s public float stands at approximately 934,550 shares. A tightly-held float of this size is acutely vulnerable to opportunistic conversion under any legacy instrument with market-priced conversion features. Holding an adequate reserve of authorized but unissued shares allows the Board to negotiate principal reductions, extended maturities, and capped conversion prices on behalf of existing stockholders, rather than capitulating to whatever conversion mathematics the holder elects to impose.
3. Enables the ExecutivesBOT subscription growth strategy. The Company’s primary go-forward product, ExecutivesBOT (https://executives.bot), licenses a suite of six autonomous AI C-suite agents to OTC public company issuers at $999 per month. The 500,000,000-share authorization gives the Board the flexibility to pursue accretive technology acquisitions, license agreements, and any future equity financing on terms negotiated rather than imposed.

Why This Is Positive for Shareholders
Frank Yglesias, Chairman and Chief Executive Officer of PNXP, said: “An increase in authorized shares is sometimes treated by retail investors as inherently dilutive. In our specific situation, the opposite is true. The Company is approaching the practical limit of its current authorization, and every share of authorized but unissued capacity we hold is leverage we can use to negotiate on behalf of the existing float — not against it. A larger authorization, paired with the Board’s stated policy of not issuing shares except for documented strategic purposes, is the single most shareholder-friendly corporate action available to us at this stage of the business.”

Context: The ExecutivesBOT Transition
PNXP completed its strategic pivot from cannabis operations to AI executive infrastructure during fiscal year 2026 and publicly launched ExecutivesBOT on April 17, 2026 (see Current Report on Form 8-K furnished under Item 7.01 of the same date). The product is an MIT-licensed orchestration platform that delivers six named AI executives — Bill (CEO), Tom (CFO), James (General Counsel), Mary (COO), Lisa (CMO), and Robert (CTO) — to OTC-listed issuers as a managed subscription. ExecutivesBOT is powered by Anthropic Claude and runs on dedicated infrastructure with a hash-chained audit log retained for seven years consistent with the recordkeeping principles of 17 CFR 240.17a-4.

The authorized-share increase is a foundational corporate action that allows the Company to capitalize the ExecutivesBOT business in the same way any growth-stage technology issuer would — through measured equity issuances tied to documented strategic milestones, rather than under the duress of an exhausted authorization.

Concurrent Corporate Actions: Non-Shell Opinion, Name Change, and Symbol Change
In parallel with the authorized-share increase, the Company is advancing two additional corporate actions intended to align its market identity with its post-pivot operating profile.
Rule 144(i) non-shell opinion. The Company, through outside counsel Jeffrey D. Turner, Esq. (JDT Legal, PLLC), has prepared, and intends to submit, a Rule 144(i) opinion of counsel to OTC Markets Group, Inc. The opinion sets forth the legal and factual basis for the position that the Company has ceased to be a “shell company” within the meaning of Rule 144(i)(1)(i) under the Securities Act of 1933, as amended, as a result of (a) the commercial operation of the ExecutivesBOT platform. Acceptance of the opinion by OTC Markets is a prerequisite to broader market eligibility and to the restoration of standard Rule 144 reporting and resale conditions for shares of the Company’s common stock that would otherwise be subject to the more restrictive holding-period requirements applicable to former shell companies.

Corporate name change to Autonomous Holdings, Inc. The Board has authorized, and intends to submit for stockholder ratification, an amendment to the Company’s Amended and Restated Articles of Incorporation changing the Company’s corporate name from “Pineapple Express Cannabis Company” to “Autonomous Holdings, Inc.” The proposed new name reflects the Company’s post-pivot identity as an AI executive infrastructure issuer and removes the historic cannabis nomenclature, which is no longer descriptive of the Company’s business or revenue model. Until the name change becomes effective in accordance with Nevada law and the Company’s Certificate of Amendment is filed with and accepted by the Nevada Secretary of State, the Company’s legal name remains “Pineapple Express Cannabis Company,” and all SEC filings, transfer agent records, and contractual instruments will continue to be executed under that name.

Trading symbol change. In connection with the name change, the Company will submit a Corporate Action and Issuer Authorization Form to the Financial Industry Regulatory Authority (FINRA) under FINRA Rule 6490 requesting a corresponding change to the Company’s OTC trading symbol. The Company’s current trading symbol, “PNXP,” will remain effective until FINRA processes the request and announces an effective date on its Daily List in accordance with Exchange Act Rule 10b-17. The new symbol will be assigned by FINRA at the time of approval; the Company will not pre-announce a specific replacement symbol and undertakes no obligation to do so until the FINRA Daily List announcement is published. The Company will furnish a Current Report on Form 8-K under Item 8.01 promptly following FINRA approval and disseminate the effective date and new symbol through this press release distribution channel.

The Company anticipates that, taken together, the authorized-share increase, the Rule 144(i) non-shell opinion, the corporate name change, and the symbol change will provide a coherent and durable market identity for the Company under its go-forward operating profile.

About Pineapple Express Cannabis Company
Pineapple Express Cannabis Company (OTCID: PNXP; CIK 0001710495) is a Nevada corporation that files periodic reports with the U.S. Securities and Exchange Commission. The Company's flagship product, ExecutivesBOT, is a subscription AI executive platform purpose-built for OTC-listed micro-cap issuers and SEC-reporting smaller reporting companies. More information is available at executives.bot.

Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the timing, scope, and outcomes of the beta program; the timing of the platform's general availability; expected demand for the platform; and the Company's broader commercialization plans. Actual results may differ materially due to, among other things: (i) the reliability of large language model output, including hallucination risk; (ii) dependency on third-party AI infrastructure providers; (iii) the rapidly evolving regulatory landscape applicable to artificial intelligence systems; (iv) data privacy and prompt-injection risks novel to AI platforms; (v) unsettled intellectual property and copyright doctrine applicable to AI training and output; (vi) market acceptance of artificial intelligence in public-company executive functions; (vii) cloud infrastructure availability and pricing; and (viii) the risk of governance-frame failure if customers misuse the platform or fail to maintain human supervision over its output. Additional risks are identified in the Company's filings with the U.S. Securities and Exchange Commission, available on EDGAR at sec.gov. The Company undertakes no obligation to update any forward-looking statement except as required by law.

Franjose Yglesias
Pineapple Express Cannabis Company
email us here
Visit us on social media:
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.