Cannabis Suisse Corp. Files Q1 2025 10-Q

TL;DR

CSUI filed their Q1 2025 10-Q. All systems go.

AI Summary

Cannabis Suisse Corp. filed a 10-Q for the period ending August 31, 2024. The company, formerly known as Geant Corp., is incorporated in Nevada and operates in the Papers & Allied Products sector. Their business address is in Jacksonville, Florida. The filing covers the first quarter of their fiscal year 2025.

Why It Matters

This filing provides investors with an update on Cannabis Suisse Corp.'s financial performance and operational status for the first quarter of their fiscal year 2025.

Risk Assessment

Risk Level: medium — The company operates in the cannabis sector, which is subject to significant regulatory and market volatility.

Key Players & Entities

• CANNABIS SUISSE CORP. (company) — Filer
• Geant Corp. (company) — Former company name
• 20240831 (date) — Reporting period end date
• 20241015 (date) — Filing date
• Jacksonville, FL (location) — Business address

FAQ

Key Financial Figures

• $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 — ments for the remaining four years were $375,704 and the landlord offered a 50% discount
• $93,926 — ayment, along with a forgiveness of the $93,926 in unpaid rent to that point. The Compa
• $814,947 — he note was $ 1,002,799 (inclusive of a $814,947 premium balance) as of August 31, 2024.
• $203,520 — e total payments for the five years was $203,520, none of which had been paid, and the l
• $494,014 — the note was $ 595,774 (inclusive of a $494,014 premium balance) as of August 31, 2024.
• $532,341 — ,431 (inclusive of a premium balance of $532,341). As of August 31, 2024, the maturitie

Filing Documents

• csui-20240831.htm (10-Q) — 367KB
• 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
• 0001393905-24-000352.txt ( ) — 2483KB
• csui-20240831_cal.xml (EX-101.CAL) — 24KB
• csui-20240831_def.xml (EX-101.DEF) — 73KB
• csui-20240831_lab.xml (EX-101.LAB) — 151KB
• csui-20240831_pre.xml (EX-101.PRE) — 148KB
• csui-20240831.xsd (EX-101.SCH) — 33KB
• csui-20240831_htm.xml (XML) — 224KB

- 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 August 31, 2024 May 31, 2024 (Unaudited) ASSETS Current Assets Cash in Escrow Account $ 25,742 $ 28,562 Prepaid Expenses 149,002 167,891 Total Current Assets 174,744 196,453 Property and Equipment, net 23,551 24,612 Operating Leases Right of Use Assets - Related Parties 635,552 675,558 TOTAL ASSETS $ 833,847 $ 896,623 LIABILITIES & STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 11,103 $ 4,304 Accrued Interest - Related Parties 14,849 33,380 Advances From Relat

View Full Filing

View this 10-Q filing on SEC EDGAR