CNBX Pharmaceuticals Files 2024 10-K

TL;DR

CNBX Pharma filed its 2024 10-K. Check financials for the year ending Aug 31.

AI Summary

CNBX Pharmaceuticals Inc. filed its 2024 10-K report for the fiscal year ending August 31, 2024. The company, formerly known as Cannabics Pharmaceuticals Inc., is incorporated in Nevada and operates in the pharmaceutical preparations sector. Its business address is located in Bethesda, Maryland.

Why It Matters

This filing provides investors with a comprehensive overview of CNBX Pharmaceuticals Inc.'s financial performance and business operations for the fiscal year 2024.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, CNBX Pharmaceuticals Inc. is subject to significant regulatory, research and development, and market risks inherent in the industry.

Key Numbers

• 2024 — Fiscal Year End (The report covers the fiscal year ending August 31, 2024.)
• 2023 — Previous Fiscal Year End (Comparative financial data for the year ending August 31, 2023, is included.)
• 2022 — Prior Fiscal Year End (Comparative financial data for the year ending August 31, 2022, is included.)

Key Players & Entities

• CNBX Pharmaceuticals Inc. (company) — Filer of the 10-K
• August 31, 2024 (date) — Fiscal year end
• Cannabics Pharmaceuticals Inc. (company) — Former company name
• Nevada (location) — State of incorporation
• Bethesda, Maryland (location) — Business address

FAQ

Key Financial Figures

• $0.02 — ant on the OTC Bulletin Board system of $0.02. For purposes of this response, the reg
• $0.0001 — 31,111,352 shares of its Common Stock, $0.0001 par value, outstanding. Table of Conte
• $150,000 — earch. Additionally, Cannabics tendered $150,000 to the Company specifically earmarked a

Filing Documents

• cnbx_i10k-83124.htm (10-K) — 842KB
• cnbx_ex3101.htm (EX-31.1) — 11KB
• cnbx_ex3102.htm (EX-31.2) — 11KB
• cnbx_ex3201.htm (EX-32.1) — 4KB
• cnbx_ex3202.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 13KB
• image_002.jpg (GRAPHIC) — 13KB
• image_003.jpg (GRAPHIC) — 12KB
• image_004.jpg (GRAPHIC) — 7KB
• image_005.jpg (GRAPHIC) — 29KB
• image_006.jpg (GRAPHIC) — 19KB
• image_007.jpg (GRAPHIC) — 17KB
• image_008.jpg (GRAPHIC) — 3KB
• image_009.jpg (GRAPHIC) — 23KB
• image_010.jpg (GRAPHIC) — 5KB
• image_011.jpg (GRAPHIC) — 2KB
• image_012.jpg (GRAPHIC) — 3KB
• 0001683168-24-008433.txt ( ) — 3620KB
• cnbx-20240831.xsd (EX-101.SCH) — 22KB
• cnbx-20240831_cal.xml (EX-101.CAL) — 31KB
• cnbx-20240831_def.xml (EX-101.DEF) — 65KB
• cnbx-20240831_lab.xml (EX-101.LAB) — 217KB
• cnbx-20240831_pre.xml (EX-101.PRE) — 171KB
• cnbx_i10k-83124_htm.xml (XML) — 271KB

Description of Business

Item 1. Description of Business 1

Risk Factors

Item 1A. Risk Factors 25

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 46

Cybersecurity

Item 1C. Cybersecurity 46

Properties

Item 2. Properties 47

Legal Proceedings

Item 3. Legal Proceedings 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 47 PART II

Market For Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market For Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 48

Selected Financial Data

Item 6. Selected Financial Data 49

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 50

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 53

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. 54

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 55

Controls and Procedures

Item 9A. Controls and Procedures 55

Other Information

Item 9B. Other Information 56 PART III

Directors, Executive Officers, Promoters and Control Persons; Compliance With Section 16(A) of the Exchange Act

Item 10. Directors, Executive Officers, Promoters and Control Persons; Compliance With Section 16(A) of the Exchange Act 57

Executive Compensation

Item 11. Executive Compensation 58

Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters. 60

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 60

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 60 PART IV

Exhibits

Item 15. Exhibits 61

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS Certain statements made in this Annual Report are "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements made in this Report are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are based, in part, on assumptions involving the growth and expansion of business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes that its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements made in this Report will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements made in this Report, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. As used in this Annual Report, the terms "we", "us", "our", "Company", and "CNBX" means CNBX Pharmaceuticals Inc., unless otherwise indicated. ii PART I

Description of Business

Item 1. Description of Business CNBX PHARMACEUTICALS, INC. is based in Bethesda, Maryland, is a clinical stage company dedicated to discovery, development and commercialization of novel cannabinoid-based products and innovative technologies for the treatment of cancer. Our first lead product candidate is a Cannabics SR, the oral capsule developed for the treatment of patients with advanced cancer and cancer anorexia cachexia syndrome (CACS). Our leading anti-neoplastic drug candidate under development for Colorectal Cancer (CRC) is RCC-33. Historically we were previously an exploration stage mining company which transitioned into a bio-tech company in 2014. Our corporate address is #3 Bethesda Metro Center, Suite 700, Bethesda, Maryland, 20814; Telephone (877) 424-2429. The Company was previously engaged in the oil and gas exploration business. On April 29th, 2014, the Company began a new direction and the majority of the Shareholders of the Company elected the Board of Directors and renamed the Company Cannabics Pharmaceuticals Inc. The Company's R&D is conducted in a Government licensed lab facility in Israel with the focus of development of cannabinoid-based therapies, medications and administration routes for treatment of cancer. History: Cannabics Pharmaceuticals Inc. was incorporated on September 15, 2004, under the laws of the State of Nevada, as Thrust Energy Corp., for the purpose of acquiring undivided working interests in small oil and gas exploration properties and non-operating interests in both producing and exploration projects throughout the United On September 30, 2010, we increased our authorized capital to 900 million shares of common stock (par value $0.0001) and 100 million shares of preferred stock (par value $0.0001) and effected a 20-for-1 reverse split of our issued and outstanding common stock. As a result of the reverse split, our issued and outstanding common stock was reduced from 13,604,000 shares to 680,202

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View this 10-K filing on SEC EDGAR