Cannabis Bioscience International Holdings, INC. 10-K Filing

Ticker: CBIH · Form: 10-K · Filed: Sep 16, 2024 · CIK: 1411057

Cannabis Bioscience International Holdings, INC. 10-K Filing Summary
FieldDetail
CompanyCannabis Bioscience International Holdings, INC. (CBIH)
Form Type10-K
Filed DateSep 16, 2024
Pages15
Reading Time18 min
Key Dollar Amounts$27 million, $50.7 b, $41.5 billion, $16 billion, $87.4 billion
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 10-K filing submitted by Cannabis Bioscience International Holdings, INC. (ticker: CBIH) to the SEC on Sep 16, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $27 million (e USA cannabis market had approximately $27 million in sales in 2022 and is forecast to rea); $50.7 b (sales in 2022 and is forecast to reach $50.7 by 2028. According to a report by New Fro); $41.5 billion (l cannabis market is predicted to reach $41.5 billion in sales by 2025. In the medical marke); $16 billion (nabis market will nearly double to over $16 billion in that time, taking into account more); $87.4 billion (l cannabis market is projected to reach $87.4 billion by 2027, according to Global Market Ins).

How long is this filing?

Cannabis Bioscience International Holdings, INC.'s 10-K filing is 15 pages with approximately 4,420 words. Estimated reading time is 18 minutes.

Where can I view the full 10-K filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 4,420 words · 18 min read · ~15 pages · Grade level 14 · Accepted 2024-09-13 21:35:19

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 12

Cybersecurity

Item 1C. Cybersecurity 12

Properties

Item 2. Properties 12

Legal Proceedings

Item 3. Legal Proceedings 12

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 12 PART II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 13

[Reserved]

Item 6. [Reserved] 13

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 17

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 18

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 19

Controls and Procedures

Item 9A. Controls and Procedures 19

Other Information

Item 9B. Other Information 20

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 20 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 21

Executive Compensation

Item 11. Executive Compensation 23

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 26

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 27

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 29 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 30

Form 10-K Summary

Item 16. Form 10-K Summary 31

Signatures

Signatures 32 i CAUTIONARY NOTES

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K, including "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Report, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "goal," "objective," "seeks," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Report include, but are not limited to, our expectations regarding our financial performance; our expectations regarding future operating performance; our ability to attract and retain customers; our ability to compete in our industries; our ability to meet our liquidity needs; our ability to effectively manage our exposure to fluctuations in foreign currency exchange rates; the increased expenses associated with being a public company; the size of our addressable markets, market share, and market trends, including our ability to grow our business in the countries we have identified as near- term priorities; anticipated trends, developments, and challenges in our industry, business, and the highly competitive markets in which we operate; our ability to anticipate market needs or develop new or enhanced offerings and services to meet those needs; our ability to manage expansion into international markets and new industries; ou

Business

Item 1. Business. History The Company was formed in Colorado on February 28, 2003, as a limited liability company under the name Fidelity Aircraft Partners LLC. On December 16, 2009, it converted to a corporation under the name Fidelity Aviation Corporation, and on August 24, 2004, it changed its name to China Infrastructure Construction Corp. On February 28, 2018, the Company changed its name to Hippocrates Direct Healthcare, Inc., and on December 6, 2022, it changed its corporate name to Cannabis Bioscience International Holdings, Inc. On December 20, 2019, the present management acquired control of the Company as a result of the acquisition of Pharmacology University, Inc. (see below). The Company began to file reports with OTC in 2018 under its Alternate Reporting Standard and has been a "Pink Sheet" company since then. The Company's vision is to provide superior services while adhering to its core values of integrity, respect, compassion, inclusiveness, social responsibility, excellence and innovation. Acquisition of Pharmacology University Inc. Pharmaceutical University Inc.("PUI") was incorporated in the State of Delaware on January 5, 2017. On December 20, 2019, PUI was merged with and into the Company. The Company conducts the business acquired by this merger (the "Pharmacology University Business") under the trade name Pharmacology University. The Pharmacology University Business is generally cannabis-related research and education. For a more detailed description of the Pharmacology University Business, see "Business – Pharmacology University Business." Acquisition of Precision Research Institute On March 31, 2019, the Company entered into the Alpha Research Business by acquiring all of the outstanding units in Precision Research Institute, LLC, a Texas limited liability company ("PRI"), which was formed on May 18, 2016, from the Company's then president. On August 20, 2020, PRI was merged with and into the Company. The Company conducts the Al

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