Cannabis Bioscience International Holdings, Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Cannabis Bioscience International Holdings, Inc. has filed its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

Cannabis Bioscience International Holdings, Inc. (CBIH) filed a Quarterly Report (10-Q) with the SEC on April 22, 2024. Cannabis Bioscience International Holdings, Inc. filed a 10-Q report for the period ending February 29, 2024. The company's fiscal year ends on May 31. The filing covers the third quarter of the fiscal year. The company was formerly known as CHINA INFRASTRUCTURE CONSTRUCTION Corp and FIDELITY AVIATION CORP. The business and mailing address 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 10-Q filing provides an update on the company's financial performance and operational status for the specified quarter. Understanding the details within this report is crucial for investors to assess 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, providing routine financial updates without immediate indicators of significant financial distress or major positive developments.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand the company's performance and identify any emerging trends.

Key Numbers

• 2024-02-29 — Period End Date (Quarterly filing period)
• 2024-04-22 — Filing Date (Date the report was filed)
• 0531 — Fiscal Year End (Company's fiscal year end date)
• 2023-05-31 — Previous Fiscal Year End (Previous fiscal year end date)

Key Players & Entities

• Cannabis Bioscience International Holdings, Inc. (company) — Filer name
• 2024-02-29 (date) — Period of report
• 2024-04-22 (date) — Filed as of date
• 0531 (date) — Fiscal year end
• 6201 BONHOMME ROAD (address) — Business address street 1
• HOUSTON (location) — Business address city
• TX (location) — Business address state
• CHINA INFRASTRUCTURE CONSTRUCTION Corp (company) — Former company name

FAQ

Industry Context

The company operates in the commercial physical & biological research sector, with a focus potentially related to bioscience applications.

Regulatory Implications

As a publicly traded company, Cannabis Bioscience International Holdings, Inc. is subject to SEC regulations and reporting requirements, including the filing of Form 10-Q.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ending February 29, 2024.
2. Review any disclosures regarding business operations, risks, and management's discussion and analysis (MD&A).
3. Compare key financial metrics with previous periods to identify trends and performance changes.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-22: Filing Date — Date the 10-Q report was officially filed with the SEC.
• 2024-05-31: Fiscal Year End — Indicates the end of the company's annual fiscal cycle.

Year-Over-Year Comparison

This filing is a 10-Q for the period ending February 29, 2024, providing a quarterly update. Specific comparative financial data from a previous filing is not detailed in this header information.

Filing Documents

• cannabisbio_i10q-022924.htm (10-Q) — 599KB
• cannabisbio_ex1001.htm (EX-99) — 69KB
• cannabisbio_ex3100.htm (EX-31) — 10KB
• cannabisbio_ex3200.htm (EX-32) — 3KB
• image_001.jpg (GRAPHIC) — 162KB
• image_002.jpg (GRAPHIC) — 348KB
• image_003.jpg (GRAPHIC) — 355KB
• image_004.jpg (GRAPHIC) — 343KB
• image_005.jpg (GRAPHIC) — 303KB
• image_006.jpg (GRAPHIC) — 209KB
• image_007.jpg (GRAPHIC) — 42KB
• image_008.jpg (GRAPHIC) — 26KB
• image_009.jpg (GRAPHIC) — 42KB
• image_010.jpg (GRAPHIC) — 204KB
• image_011.jpg (GRAPHIC) — 112KB
• image_012.jpg (GRAPHIC) — 53KB
• image_013.jpg (GRAPHIC) — 39KB
• image_014.jpg (GRAPHIC) — 118KB
• 0001683168-24-002587.txt (&nbsp;) — 6579KB
• cbih-20240229.xsd (EX-101.SCH) — 27KB
• cbih-20240229_cal.xml (EX-101.CAL) — 41KB
• cbih-20240229_def.xml (EX-101.DEF) — 75KB
• cbih-20240229_lab.xml (EX-101.LAB) — 241KB
• cbih-20240229_pre.xml (EX-101.PRE) — 191KB
• cannabisbio_i10q-022924_htm.xml (XML) — 350KB

- 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 22 Item 4.

Controls and Procedures

Controls and Procedures 22

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

– 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 SHEET February 29, 2024 May 31, 2023 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 794 $ 8,913 Accounts receivable 17,041 10,549 Related party receivables – – Other current assets 598 – TOTAL CURRENT ASSETS 18,433 19,462 Right-of-use asset, net of accumulated depreciation 75,541 23,920 TOTAL ASSETS $ 93,974 $ 43,382 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 257,527 $ 111,299 Overdraft 5,485 – Deferred revenue – 28,641 Related party payables 323,678 105,173 Short-term loan 151,267 121,407 SBA loan – current 7,054 14,592 PPP loan – – Lease liabilities – current 56,039 4,435 TOTAL CURRENT LIABILITIES 801,049 385,547 LONG-TERM LIABILITIES SBA loan – noncurrent 249,500 249,500 Lease liabilities – noncurrent 19,502 – TOTAL LONG-TERM LIABILITIES 269,002 249,500 TOTAL LIABILITIES 1,070,052 635,047 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 issued and 1,000 shares have been designated Series B Preferred Stock and issued – – Common stock, without par value: 20,000,000,000 shares authorized; 10,431,749,347 and 10,059,677,919 shares issued and outstanding at February 29, 2024, and May 31, 2023, respectively. – – Additional paid-in capital 4,222,068 4,091,071 Accumulated deficit ( 5,198,146 ) ( 4,682,736 ) TOTAL STOCKHOLDERS' DEFICIENCY ( 976,078 ) ( 591,665 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 93,974 $ 43,382 The accompanying notes are an integral part of these consolidated financial statements. 3 CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC. (formerly named China Infra

View Full Filing

View this 10-Q filing on SEC EDGAR