Cell MedX Corp. Files 2024 10-K

TL;DR

Cell MedX filed its 2024 10-K. Check financials.

AI Summary

Cell MedX Corp. filed its 10-K for the fiscal year ending May 31, 2024, reporting on its financial condition and business operations. The company, formerly known as Sports Asylum, Inc. and Plandel Resources, Inc., is incorporated in Nevada and operates in the miscellaneous retail sector. Its principal executive offices are located in Vancouver, Canada.

Why It Matters

This filing provides investors with a comprehensive overview of Cell MedX Corp.'s financial performance and strategic direction for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the company's history of name changes and its SIC code suggest potential volatility or a need for deeper due diligence.

Key Numbers

• 2024-05-31 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2023-06-01 — Fiscal Year Start (The start date of the reporting period for the 10-K.)
• 000-54500 — SEC File Number (The SEC file number associated with the company's filings.)
• 0001493712 — Central Index Key (CIK) (Unique identifier for the company in the SEC EDGAR system.)
• 5900 — SIC Code (Standard Industrial Classification code for Miscellaneous Retail.)

Key Players & Entities

• Cell MedX Corp. (company) — Filer
• Sports Asylum, Inc. (company) — Former Company Name
• Plandel Resources, Inc. (company) — Former Company Name
• 20240531 (date) — Fiscal Year End
• 820 - 1130 PENDER STREET, WEST (address) — Business Address
• VANCOUVER (location) — City
• NV (state) — State of Incorporation

FAQ

Key Financial Figures

• $0.001 — ction 12(g) of the Act: Common Stock - $0.001 par value (Title of Class) Indicate
• $100,000 — e Agreement the Company paid a total of $100,000 and issued options to purchase up to 20
• $0.05 — 's common stock at an exercise price of $0.05 per share (the "Options") of which Opti
• $124,243 — al 1 consideration to the Company of $124,243. Remaining Options were cancelled based

Filing Documents

• cmxc-20240531.htm (10-K) — 797KB
• cmxc_ex311.htm (EX-31.1) — 6KB
• cmxc_ex312.htm (EX-31.2) — 6KB
• cmxc_ex321.htm (EX-32.1) — 3KB
• cmxc_ex322.htm (EX-32.2) — 3KB
• cmxc10k_1.jpg (GRAPHIC) — 7KB
• cmxc10k_2.jpg (GRAPHIC) — 10KB
• 0001393905-24-000308.txt ( ) — 3569KB
• cmxc-20240531_cal.xml (EX-101.CAL) — 20KB
• cmxc-20240531_def.xml (EX-101.DEF) — 98KB
• cmxc-20240531_lab.xml (EX-101.LAB) — 179KB
• cmxc-20240531_pre.xml (EX-101.PRE) — 172KB
• cmxc-20240531.xsd (EX-101.SCH) — 46KB
• cmxc-20240531_htm.xml (XML) — 426KB

Business

Item 1. Business. 1

Risk Factors

Item 1A. Risk Factors. 9

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. 13

Properties

Item 2. Properties. 13

Legal Proceedings

Item 3. Legal Proceedings. 13

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 13 Part II 14

Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 14

Selected Financial Data

Item 6. Selected Financial Data. 16

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. 16

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 22

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. 22

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 23

Controls and Procedures

Item 9A. Controls and Procedures. 23

Other Information

Item 9B. Other Information 24 Part III 25

Directors, Executive Officers, and Corporate Governance

Item 10. Directors, Executive Officers, and Corporate Governance. 25

Executive Compensation

Item 11. Executive Compensation. 28

Security Ownership of Certain Beneficial Holders and Management

Item 12. Security Ownership of Certain Beneficial Holders and Management. 29

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence. 31

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 34

Exhibits, Financial Statements Schedules

Item 15. Exhibits, Financial Statements Schedules 34

Signatures

Signatures 39 iii PART I

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS Unless the context otherwise requires, all references in this report to "Cell MedX," "the Company," "we," "us," or "our" are to Cell MedX Corp., collectively with its wholly owned subsidiary Cell MedX (Canada) Corp. The information in this Annual Report contains forward-looking statements. These forward-looking statements involve risks and uncertainties, including statements regarding our capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, the reader can identify forward-looking statements by terminology such as "may", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential" or "continue", the negative of such terms or other comparable terminology. Actual events or results may differ materially. In evaluating these statements, the reader is urged to consider various factors, including the risks outlined from time to time, in other reports the Company files with the Securities and Exchange Commission. The forward-looking statements in this Form 10-K for the fiscal year ended May 31, 2024, are subject to risks and uncertainties that could cause actual results to differ materially from the results expressed in or implied by the statements contained in this report. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives requires the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and accordingly, no opinion is expressed on the achievability of those forward-looking statements. No assurance can be given that any of the assumptions relating to the forward-looking statements specified in the following information are accurate. All forward-looki

BUSINESS

ITEM 1. BUSINESS. GENERAL Cell MedX Corp. was incorporated under the laws of the State of Nevada on March 19, 2010. On April 26, 2016, the Company formed its wholly owned subsidiary, Cell MedX (Canada) Corp., (the "Subsidiary") under the laws of the Province of British Columbia. Cell MedX is a biotech company focused on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general health, anti-aging, pain relief, wellness and alleviate complications associated with medical conditions including, but not limited to: diabetes, insulin resistance, high blood pressure, neuropathy and kidney function. Cell MedX (Canada) is engaged in development and manufacturing of therapeutic devices based on the proprietary eBalance Technology, which harnesses the power of microcurrents and their effects on the human body. BUSINESS OF CELL MEDX eBalance Technology Acquisition On November 25, 2014, the Company entered into a Technology Purchase Agreement (the "Purchase Agreement") to acquire a proprietary microcurrent technology designed to be used in the treatment of diabetes and related ailments (the "eBalance Technology"). Pursuant to the Purchase Agreement the Company paid a total of $100,000 and issued options to purchase up to 20,000,000 shares of the Company's common stock at an exercise price of $0.05 per share (the "Options") of which Options to acquire up to 2,484,145 shares were exercised in August of 2020 for total 1 consideration to the Company of $124,243. Remaining Options were cancelled based on the letter agreement dated September 26, 2016. eBalance Technology eBalance Technology is based on the science of bioelectric signals, their effect on epigenetic events within the human body, and ability to modify and effect the behavior of cells, tissues, and organs. The eBalance Technology utilizes microcurrent electrical therapy ("MEY") to deliver subsensory micro amperage current to the patient/user to suppo

View Full Filing

View this 10-K filing on SEC EDGAR