CANNABIS SUISSE CORP. Files Form 10-Q for Period Ending 2024-02-29

TL;DR

<b>CANNABIS SUISSE CORP. has filed its quarterly report (10-Q) for the period ending February 29, 2024.</b>

AI Summary

CANNABIS SUISSE CORP. (CSUI) filed a Quarterly Report (10-Q) with the SEC on April 12, 2024. CANNABIS SUISSE CORP. filed a Form 10-Q for the period ending February 29, 2024. The company was formerly known as Geant Corp. and changed its name on July 19, 2016. The fiscal year end for the company is May 31. The filing is for the third quarter of the fiscal year. The company is incorporated in Nevada.

Why It Matters

For investors and stakeholders tracking CANNABIS SUISSE CORP., 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.

Risk Assessment

Risk Level: low — CANNABIS SUISSE CORP. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments based on the header information alone.

Analyst Insight

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

Key Numbers

• 2024-02-29 — Period End Date (Form 10-Q reporting period)
• 2024-04-12 — Filing Date (Date the 10-Q was filed)
• 0531 — Fiscal Year End (Company's fiscal year end month and day)
• 20160719 — Name Change Date (Date of former company name change)

Key Players & Entities

• CANNABIS SUISSE CORP. (company) — Filer name
• Geant Corp. (company) — Former company name
• 20160719 (date) — Date of name change
• 2024-02-29 (date) — Period end date
• 2024-04-12 (date) — Filing date
• NV (jurisdiction) — State of incorporation
• Jacksonville (location) — Business address city
• FL (location) — Business address state

FAQ

Industry Context

The filing is a standard SEC Form 10-Q, which provides a comprehensive overview of a company's financial condition and results of operations for a quarterly period.

Regulatory Implications

This filing adheres to the requirements of the Securities Exchange Act of 1934, mandating public companies to report their financial performance quarterly.

What Investors Should Do

1. Analyze the detailed financial statements (balance sheet, income statement, cash flow) within the 10-Q.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the Form 10-Q.
• 2024-04-12: Filing Date — Date the Form 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for CANNABIS SUISSE CORP. for the period ending 2024-02-29.

Key Financial Figures

• $96,661 — and $ 113,320 , respectively, of which $96,661 was included in the amount converted to
• $60,000 — onversion feature was $ 60,000 . Of the $60,000, $ 30,000 was converted to equity in De
• $30,000 — quity in December 2021, and the rest of $30,000 was assigned to Okie LLC. In November 2
• $375,704 — e total payments for the four years are $375,704 and the landlord offered 50% discount f
• $203,520 — e total payments for the five years are $203,520 and the landlord offered 50% discount f

Filing Documents

• csui-20240229.htm (10-Q) — 424KB
• csui_ex311.htm (EX-31.1) — 8KB
• csui_ex312.htm (EX-31.2) — 8KB
• csui_ex321.htm (EX-32.1) — 5KB
• csui_ex322.htm (EX-32.2) — 5KB
• 0001393905-24-000125.txt (&nbsp;) — 2487KB
• csui-20240229_cal.xml (EX-101.CAL) — 22KB
• csui-20240229_def.xml (EX-101.DEF) — 70KB
• csui-20240229_lab.xml (EX-101.LAB) — 142KB
• csui-20240229_pre.xml (EX-101.PRE) — 138KB
• csui-20240229.xsd (EX-101.SCH) — 29KB
• csui-20240229_htm.xml (XML) — 261KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

Financial statements

Item 1. Financial statements. 1

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 13

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk. 15

Controls and Procedures

Item 4. Controls and Procedures. 15

- OTHER INFORMATION

PART II - OTHER INFORMATION 17

Legal Proceedings

Item 1. Legal Proceedings. 17

Risk Factors

Item 1A. Risk Factors. 17

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 17

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 17

Mine Safety Disclosure

Item 4. Mine Safety Disclosure. 17

Other Information

Item 5. Other Information. 17

Exhibits

Item 6. Exhibits. 17

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial statements

Item 1. Financial statements. The accompanying condensed interim financial statements of Cannabis Suisse Corp. (the "Company") should be read in conjunction with the 10-K that was filed with the United States Securities and Exchange Commission (the "SEC"). The accompanying Condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, since they are interim statements, the accompanying condensed financial statements do not include all the information and notes required by GAAP for complete financial statement presentation. In the opinion of management, the condensed interim financial statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary for a fair presentation of the financial position, results of operations, and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year. In the opinion of management, the condensed financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 1 CANNABIS SUISSE CORP. CONDENSED BALANCE SHEETS February 29, 2024 May 31, 2023 (Unaudited) ASSETS Current Assets Cash in Escrow Account $ 44 $ 199 Prepaid Expenses - 4,500 Total Current Assets 44 4,699 Property and Equipment, net 25,673 28,856 Operating Leases Right of Use Assets - Related Parties 500,220 312,748 TOTAL ASSETS $ 525,937 $ 346,303 LIABILITIES & STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 9,772 $ 10,770 Accrued Interest Related Parties 22,213 8,865 Advances From Related Parties 54,235 2

View Full Filing

View this 10-Q filing on SEC EDGAR