Cannabis Bioscience International Holdings, Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Cannabis Bioscience International Holdings, Inc. filed its quarterly report (10-Q) for the period ending November 30, 2023.</b>

AI Summary

Cannabis Bioscience International Holdings, Inc. (CBIH) filed a Quarterly Report (10-Q) with the SEC on January 25, 2024. Cannabis Bioscience International Holdings, Inc. filed a 10-Q report for the period ending November 30, 2023. The company's fiscal year ends on May 31. The filing covers the second quarter of fiscal year 2024. The company's principal business is physical & biological research. The company is located in Houston, TX.

Why It Matters

For investors and stakeholders tracking Cannabis Bioscience International Holdings, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the most recent quarter. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects in the bioscience sector.

Risk Assessment

Risk Level: low — Cannabis Bioscience International Holdings, Inc. shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2023-11-30 — Period End Date (10-Q Filing)
• 2024-01-25 — Filing Date (10-Q Filing)
• 0531 — Fiscal Year End (Company Data)

Key Players & Entities

• Cannabis Bioscience International Holdings, Inc. (company) — Filer
• 0001683168-24-000433 (filing_id) — Accession Number
• 20231130 (date) — Period of Report
• 20240125 (date) — Filed as of Date
• 8731 (sic_code) — Standard Industrial Classification
• 6201 BONHOMME ROAD SUITE 466S HOUSTON TX 77036 (address) — Business Address

Forward-Looking Statements

• Cannabis Bioscience International Holdings, Inc. will continue to report no significant revenue in its next quarterly filing. (Cannabis Bioscience International Holdings, Inc.) — high confidence, target: 2024-05-31
• The company will likely continue to incur net losses in the near term. (Cannabis Bioscience International Holdings, Inc.) — high confidence, target: 2024-05-31

FAQ

Industry Context

The company operates within the physical & biological research sector, which involves scientific research and development activities.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and net income.
2. Review management's discussion and analysis (MD&A) for insights into business operations and strategy.
3. Check for any new risk factors or significant changes in existing ones.

Key Dates

• 2023-11-30: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-01-25: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Filing Documents

• cannabis_i10q-113023.htm (10-Q) — 502KB
• cannabis_ex3100.htm (EX-31) — 11KB
• cannabis_ex3200.htm (EX-32) — 3KB
• 0001683168-24-000433.txt (&nbsp;) — 2819KB
• cbih-20231130.xsd (EX-101.SCH) — 26KB
• cbih-20231130_cal.xml (EX-101.CAL) — 38KB
• cbih-20231130_def.xml (EX-101.DEF) — 70KB
• cbih-20231130_lab.xml (EX-101.LAB) — 192KB
• cbih-20231130_pre.xml (EX-101.PRE) — 151KB
• cannabis_i10q-113023_htm.xml (XML) — 295KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 23

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC. (formerly named China Infrastructure Construction Corp.) CONSOLIDATED BALANCE SHEETS November 30, 2023 May 31, 2023 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 337 $ 8,913 Accounts receivable 19,403 10,549 TOTAL CURRENT ASSETS 19,739 19,462 Right-of-use asset 82,102 23,920 TOTAL ASSETS $ 101,842 $ 43,382 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 213,521 $ 111,299 Bank overdraft 3,808 – Deferred revenue – 28,641 Related party payables 224,717 105,173 Short-term loans (Net of amortization of loan fees) 151,267 121,407 SBA loan - current 12,079 14,592 Lease liabilities - current 54,915 4,435 TOTAL CURRENT LIABILITIES 660,307 385,547 LONG-TERM LIABILITIES SBA loan 249,500 249,500 Lease liabilities 33,920 – TOTAL LONG-TERM LIABILITIES 283,420 249,500 TOTAL LIABILITIES 943,726 635,047 STOCKHOLDERS' DEFICIENCY Authorized 10,000,000 shares of preferred stock, of which 2,500,000 shares have been designated Series A Convertible Preferred Stock and 1,000 shares have been designated Series B Preferred Stock – – Common Stock, without par value: 20,000,000,000 shares authorized; 10,331,749,347 and 10,059,677,919 shares issued and outstanding at November 30, 2023, and May 31, 2023, respectively. – – Additional paid-in capital 4,147,071 4,091,071 Accumulated deficit ( 4,988,956 ) ( 4,682,736 ) TOTAL STOCKHOLDERS' DEFICIENCY ( 841,885 ) ( 591,665 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 101,842 $ 43,382 The accompanying notes are an integral part of these consolidated financial statements. 3 CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC. (formerly named China Infrastructure Construction Corp.) CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended November 30 Six Months En

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS November 30, 2023 (Unaudited) Note 1 – Organization and Business Organization and Operations Cannabis Bioscience International Holdings, Inc., a Colorado corporation (the "Company"), was formed 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, 2009, it changed its name to China Infrastructure Construction Corp. On February 28, 2018, the Company changed its name to Hippocrates Direct Healthcare, Inc.; on July 4, 2018, it resumed the name China Infrastructure Construction Corp. On December 6, 2022, it changed its name to its present name. The Company provides educational systems focused on medical cannabis in cities throughout the United States and six countries in Latin America. The Company provides services to third parties in therapeutic areas of clinical trials and conducts clinical trials relating to cannabinoids for its own account. The Company has one non-operating subsidiary, Alpha Fertility and Sleep Center, LLC, a Texas limited liability company, through which it conducted its sleep center business until April 30, 2023. Note 2 – Summary of Significant Accounting Policies Accounting Principles The accompanying unaudited consolidated financial in the United States of America ("U.S. GAAP") for interim financial statements and with the instructions to Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (the "SEC"). Accordingly, they do not contain all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of the Company's management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (c

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