Pineapple Express lifts share authorization to 500 million

By AI, Created 5:12 PM UTC, May 18, 2026, /AGP/ – Pineapple Express Cannabis Company approved a jump in authorized common shares from 75 million to 500 million, a move the board says is needed to manage legacy obligations and support its ExecutivesBOT business. The company also outlined parallel plans for a non-shell opinion, a name change and a trading symbol change as it pivots to AI services.

Why it matters: - Pineapple Express Cannabis Company is nearly maxed out on its current share authorization, leaving limited room to manage debt and fund growth. - The larger share pool is meant to give the board flexibility to settle legacy convertible obligations, support the ExecutivesBOT platform and negotiate future transactions on terms it chooses. - The move is also designed to protect a very small public float from pressure tied to market-priced conversion features.

What happened: - The board approved an amendment to increase authorized common stock from 75,000,000 shares to 500,000,000 shares. - The company will file the amendment with the Nevada Secretary of State under Chapter 78 of the Nevada Revised Statutes. - As of May 11, 2026, Pineapple Express had 69,170,738 shares issued and outstanding against 75,000,000 authorized. - That left 5,829,262 authorized but unissued shares, or about 7.8% of the current authorization. - The company said the current reserve is not enough to complete settlement of legacy convertible obligations, fund planned commercial expansion of ExecutivesBOT or preserve flexibility for strategic deals.

The details: - The new 500,000,000-share authorization is about 7.2 times the current share count outstanding. - The board said it considered and rejected larger authorization requests. - The company said the new ceiling is intended to provide runway without moving to the multi-billion-share levels common at distressed micro-cap issuers. - Pineapple Express said its public float is about 934,550 shares, based on the latest transfer agent report. - The company said that float is vulnerable to opportunistic conversion under instruments with market-priced conversion terms. - ExecutivesBOT licenses six autonomous AI C-suite agents to OTC public company issuers for $999 per month. - The product is available at More information. - The company said the authorization supports future equity financing, technology acquisitions and license agreements tied to strategic milestones. - Chairman and CEO Frank Yglesias said the company views the larger authorization as a shareholder-friendly step because it creates leverage to negotiate against legacy instruments rather than against the float. - Yglesias said the board plans to avoid issuing shares except for documented strategic purposes.

Between the lines: - The share increase is part of a broader shift away from cannabis operations and toward AI executive infrastructure. - Pineapple Express completed that pivot during fiscal 2026 and launched ExecutivesBOT on April 17, 2026. - The company says the platform is an MIT-licensed orchestration system powered by Anthropic Claude and supported by dedicated infrastructure with a hash-chained audit log kept for seven years. - The company is also pursuing a Rule 144(i) non-shell opinion through outside counsel Jeffrey D. Turner of JDT Legal, PLLC. - Acceptance of that opinion by OTC Markets would be required for broader market eligibility and for standard Rule 144 resale conditions to apply. - The board also authorized a name change from Pineapple Express Cannabis Company to Autonomous Holdings, Inc., subject to stockholder ratification and Nevada filing. - The company says the old cannabis name no longer matches its business or revenue model. - Pineapple Express plans to request a corresponding OTC symbol change through FINRA once the name change moves forward. - The company said the current PNXP symbol will remain in place until FINRA acts and posts an effective date. - Pineapple Express said the share increase, non-shell opinion, name change and symbol change are meant to create a more coherent market identity.

What’s next: - The company will file the certificate amendment in Nevada. - Pineapple Express intends to submit the Rule 144(i) opinion to OTC Markets. - The company plans to seek stockholder ratification for the name change. - Pineapple Express will file the FINRA action for the symbol change and later disclose the effective date and new symbol in an 8-K and through the same release channel. - The company says future equity issuance will be tied to documented strategic milestones rather than broad dilution.

The bottom line: - Pineapple Express is giving itself a much larger share reserve to support its AI pivot while trying to limit dilution pressure on existing holders.