81 FR 26281 - Order of Suspension of Trading; In the Matter of Pineapple Express, Inc.

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 84 (May 2, 2016)

Page Range		26281-26281
FR Document		2016-10295

Federal Register, Volume 81 Issue 84 (Monday, May 2, 2016)

[Federal Register Volume 81, Number 84 (Monday, May 2, 2016)]
[Notices]
[Page 26281]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-10295]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[File No. 500-1]


 Order of Suspension of Trading; In the Matter of Pineapple 
Express, Inc.

April 28, 2016.
    It appears to the Securities and Exchange Commission that the 
public interest and the protection of investors require a suspension of 
trading in the securities of Pineapple Express, Inc. (CIK No. 1654672) 
because of recent, unusual and unexplained market activity in the 
company's stock that raises concerns about the adequacy of publicly-
available information regarding the company. Pineapple Express, Inc. is 
a Wyoming corporation with its principal place of business listed as 
Los Angeles, California, with stock quoted on OTC Link (previously 
``Pink Sheets'') operated by OTC Markets Group, Inc. under the ticker 
symbol PNPL.
    The Commission is of the opinion that the public interest and the 
protection of investors require a suspension of trading in the 
securities of the above-listed company.
    Therefore, it is ordered, pursuant to Section 12(k) of the 
Securities Exchange Act of 1934, that trading in the securities of the 
above-listed company is suspended for the period from 9:30 a.m. EDT, on 
April 28, 2016, through 11:59 p.m. EDT, on May 11, 2016.

    By the Commission.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10295 Filed 4-28-16; 4:15 pm]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices 26281

any person who, if it were not directly 4. In passing upon applications under SECURITIES AND EXCHANGE
or indirectly controlled by the BDC, rule 17d–1, the Commission considers COMMISSION
would not be directly or indirectly whether the company’s participation in
under the control of a person who the joint transaction is consistent with [File No. 500–1]
controls the BDC), or any person who is, the provisions, policies, and purposes of
within the meaning of section 2(a)(3)(C) Order of Suspension of Trading; In the
the Act and the extent to which such
of the Act, an affiliated person of such Matter of Pineapple Express, Inc.
participation is on a basis different from
person. Sections 2(a)(3)(C) defines an or less advantageous than that of other April 28, 2016.
‘‘affiliated person’’ of another person as participants. It appears to the Securities and
any person directly or indirectly
5. Applicants believe that the Exchange Commission that the public
controlling, controlled by, or under
representations and conditions set forth interest and the protection of investors
common control with, such other
person. in the application will ensure that the require a suspension of trading in the
2. Rule 17d–1 under the Act generally Proposed Transactions are consistent securities of Pineapple Express, Inc.
prohibits participation by a registered with the protection of the Company’s (CIK No. 1654672) because of recent,
investment company and an affiliated Shareholders, including the Current unusual and unexplained market
person (as defined in section 2(a)(3) of Common Shareholders (as herein activity in the company’s stock that
the Act) or principal underwriter for raises concerns about the adequacy of
defined), and with the purposes
that investment company, or an publicly-available information regarding
intended by the policies and provisions
affiliated person of such affiliated the company. Pineapple Express, Inc. is
of the Act. Applicants state that the a Wyoming corporation with its
person or principal underwriter, in any Company’s participation in the
‘‘joint enterprise or other joint principal place of business listed as Los
Proposed Transactions will be Angeles, California, with stock quoted
arrangement or profit-sharing plan,’’ as consistent with the provisions, policies,
defined in the rule, without prior on OTC Link (previously ‘‘Pink Sheets’’)
and purposes of the Act and on a basis operated by OTC Markets Group, Inc.
approval by the Commission by order
that is not different from or less under the ticker symbol PNPL.
upon application. Although the
Commission has not adopted any rules advantageous than that of other The Commission is of the opinion that
expressly under section 57(a)(4), section participants. the public interest and the protection of
57(i) provides that the rules (but not Applicants’ Conditions investors require a suspension of trading
section 17(d) itself) under section 17(d) in the securities of the above-listed
applicable to registered closed-end Applicants agree that any order company.
investment companies (e.g., rule 17d–1) granting the requested relief will be Therefore, it is ordered, pursuant to
are, in the interim, deemed to apply to subject to the following conditions: Section 12(k) of the Securities Exchange
transactions subject to section 57(a). Act of 1934, that trading in the
1. The Company will ensure that total
3. As the investment adviser and securities of the above-listed company is
Underwriting Compensation payable in suspended for the period from 9:30 a.m.
principal underwriter to the Company,
the Advisor and the Dealer Manager, the Offering will not exceed 10% of the EDT, on April 28, 2016, through 11:59
respectively, are subject to the gross proceeds of the Offering, p.m. EDT, on May 11, 2016.
prohibitions of section 57(a)(4) as a consistent with Conduct Rule 2310.
By the Commission.
result of section 57(b)(2) of the Act. 2. For the period of time in which the Robert W. Errett,
Moreover, the Sponsor may be deemed Distribution Fee is payable, the Dealer Deputy Secretary.
to control both the Advisor and the Manager will waive any annual
[FR Doc. 2016–10295 Filed 4–28–16; 4:15 pm]
Dealer Manager and the Advisor may be Distribution Fee payment to which it is
deemed to control the Company within BILLING CODE 8011–01–P
otherwise entitled in an amount
the meaning of section 2(a)(9) of the sufficient to ensure that the total return
Act.1 Accordingly, the Company, the experienced by the holders of the
Advisor, the Dealer Manager and the SECURITIES AND EXCHANGE
Company’s Common Shares COMMISSION
Sponsor may be deemed to be affiliated immediately prior to the
persons of each other under section implementation of the Dealer Manager [Release No. 34–77714; File No. SR–
2(a)(3)(C) of the Act because they are NASDAQ–2016–028]
Agreement Amendment (the ‘‘Current
under common control of the Sponsor,
and thus the Advisor, the Dealer Common Shareholders’’) is not less than
the total return the Current Common Self-Regulatory Organizations; The
Manager and the Sponsor would be NASDAQ Stock Market LLC; Order
persons described in section 57(b)(2) Shareholders would have experienced if
Granting Approval of Proposed Rule
subject to the prohibitions of section the Proposed Transactions had not
Change, as Modified by Amendment
57(a)(4). The Distribution Fee occurred and the Dealer Manager No. 1 Thereto, Relating to the Listing
Reimbursement and the Dealer-Manager Agreement had not been amended. and Trading of the Shares of the
Agreement Amendment (the ‘‘Proposed For the Commission, by the Division of iSectors Post-MPT Growth ETF of
Transactions’’) might be deemed a ‘‘joint Investment Management, under delegated ETFis Series Trust I
enterprise or other joint arrangement,’’ authority.
within the meaning of section 57(a)(4) of April 26, 2016.
Robert W. Errett,
the Act and rule 17d–1 thereunder.
srobinson on DSK5SPTVN1PROD with NOTICES

Deputy Secretary. I. Introduction
Therefore, the Sponsor, the Advisor, the
Dealer Manager, and the Company may [FR Doc. 2016–10109 Filed 4–29–16; 8:45 am] On February 23, 2016, The NASDAQ
be prohibited from engaging in the BILLING CODE 8011–01–P Stock Market LLC (‘‘Exchange’’ or
Proposed Transactions as a result of the ‘‘Nasdaq’’) filed with the Securities and
prohibitions of section 57(a)(4) and rule Exchange Commission (‘‘Commission’’),
17d–1, without a grant of the Order of pursuant to Section 19(b)(1) of the
the Commission. Securities Exchange Act of 1934 (‘‘Act’’

VerDate Sep<11>2014 20:30 Apr 29, 2016 Jkt 238001 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 E:\FR\FM\02MYN1.SGM 02MYN1

Document Created: 2016-04-30 13:35:47
Document Modified: 2016-04-30 13:35:47

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 26281