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World Class Extractions (PUMP.C) subsidiary Pineapple Express Delivery puts up good numbers, expands provincial net for lockdown support

Pineapple Express Delivery
11/16/2020

World Class Extractions (PUMP.C) and Pineapple Express Delivery are ready for the impending COVID-19 lockdown. Are you?

Cannabis is considered an essential service everywhere but Ontario. If you’re anywhere else in Canada you can put on your mask, sterilize your hands and head on out for your local dispensary to pick up our package. Alcohol, man’s oldest frenemy, will also be readily available. When all of the non-essential stores are closed, both cannabis liquor stores will be open to help you get through our 1:30 p.m. lockdown blues. In Ontario, though, you’ll need to get your cannabis delivered.

This is where World Class is ready. Their core game is extractions, pulling the oils out of hemp and cannabis biomass to be put into your CBD face creams and THC pot brownies, but they are quick enough to recognize  opportunities when they see them and snatched up Pineapple Express Delivery before the bell sounded to start COVID-19 round one. Now they will deliver both your recreational or medical weed directly to your door if you’re unlucky enough to live in Doug Ford’s Ontario.

If you live in Manitoba and Saskatchewan, they’ve got you covered there too. They’ll even deliver alcohol in parts of Saskatchewan, so you don’t have to brave the icy prairie kick-you-in-the-teeth winds or risk getting COVID-19.

It seems like bad form to admit you’ve done well over COVID-19 when other have lost jobs, lost careers and enduring the long-term existential crises that come along with such, but I’m doing just fine thank you very much, and so is Pineapple Express.

“In Ontario, we have increased to over 150 drivers and 5 delivery hubs. In October 2020, our drivers logged 375,000 kms (versus 80,000 kms in January 2020) with 268 new Forward Sortation Areas (FSA) added (an FSA is a geographical unit based on the first three characters in a Canadian postal code). In addition, Pineapple Express is seeing the rise in demand for same-day delivery of all types of goods and is looking to integrate a new brand under Pineapple Express Delivery to capitalize on this demand,” said Randy Rolph, CEO and founder of Pineapple Express Delivery.

Here’s a sample of their numbers:

Pineapple Express brought in $767,545 in revenue for September, and their monthly business-to-business (BRB) revenue has more than doubled since April 2020, showing a gross margin of 52% with revenue from its business-to-customer (B2C) segment remaining consistent over the past four months. The gross margin on that is 30%. Their B2B deliveries have jumped month over month and are now over 415,000 deliveries to date with retail deliveries now delivering six days a week, with two or three runs per day.

Right now, the number of jurisdictions getting same day service in Ontario is 17, and they’re offering three-day delivery to another 31. They will also be launching in three new places in Ontario, and intend to launch an alcohol delivery service in the Greater Toronto Area (GTA).

“We are pleased with our investment in Pineapple Express and proud of their successes, achieving a monthly order volume of ~54,000 orders (up from ~6,500 in January 2020), with a 99.90% On-Time delivery success rate. With the continuing potential for increases in COVID-19 lockdown measures and with winter coming, coupled with the continuing growth in its B2B sector, Pineapple Express Delivery anticipates that its revenues will increase over the coming months,” said Rosy Mondin, CEO of World Class Extractions.

It’s early in the second wave and the numbers of folks infected daily with COVID-19 aren’t slowing down. The British Columbia government has initiated the crackdowns on gatherings and as much as we’re in need of some good news to break up the steady flow of doom and gloom, the truth is this is going to get worse before it gets better. Evidently, not only did we not learn from last year’s mistakes, but we’ve added a whole new list.

The numbers are telling. As of Friday, B.C. continued to set new records with 617 confirmed cases, increasing the active cases of COVID-19 to 5,579 across the province. There were 167 in the hospital, with 50 of those in intensive care. Last week, the total number of patients showing up in the hospital rose by 60% compared to the previous week.

It’s almost time to hunker down and put your food services, cannabis services and doctor’s office on speed-dial.

—Joseph Morton

Full disclosure: World Class Extractions is an equity.guru marketing client.

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