Cell MedX Corp. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Cell MedX Corp. has filed its quarterly report (10-Q) for the period ending November 30, 2023, providing an update on its financial status and business operations.</b>

AI Summary

Cell MedX Corp. (STME) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. Cell MedX Corp. filed a 10-Q for the period ending November 30, 2023. The company was formerly known as Sports Asylum, Inc. and Plandel Resources, Inc. The fiscal year end for Cell MedX Corp. is May 31. The company's business and mailing address is 820 - 1130 Pender Street, West, Vancouver, V6E 4A4. The business phone number is (844) 238-2692.

Why It Matters

For investors and stakeholders tracking Cell MedX Corp., this filing contains several important signals. This filing provides investors with the latest financial performance data for Cell MedX Corp., crucial for assessing the company's current health and future prospects. Understanding the company's historical name changes and current operational details helps in tracking its evolution and identifying potential business shifts.

Risk Assessment

Risk Level: low — Cell MedX Corp. shows low risk based on this filing. The filing is a standard 10-Q, which typically contains routine financial information and does not indicate any immediate or significant risks.

Analyst Insight

Monitor future filings for revenue growth and profitability trends to assess the company's performance.

Key Numbers

• 2023-11-30 — Reporting Period End Date (Form 10-Q)
• 2024-01-16 — Filing Date (Form 10-Q)
• 05-31 — Fiscal Year End (Company data)
• 820 - 1130 Pender Street, West — Business Street Address (Company data)
• (844) 238-2692 — Business Phone (Company data)

Key Players & Entities

• Cell MedX Corp. (company) — Filer name
• Sports Asylum, Inc. (company) — Former company name
• Plandel Resources, Inc. (company) — Former company name
• NV (company) — State of incorporation
• Vancouver (company) — City in business address
• V6E 4A4 (company) — ZIP code in business address

Forward-Looking Statements

• Cell MedX Corp. will continue to report zero or negligible sales in the next fiscal quarter. (Cell MedX Corp.) — high confidence, target: 2024-05-31

FAQ

Industry Context

Cell MedX Corp. operates in the Miscellaneous Retail sector, indicating a focus on selling a variety of retail goods.

Regulatory Implications

The filing is a Form 10-Q, a standard quarterly report required by the SEC for publicly traded companies to provide updates on their financial condition.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track future SEC filings for updates on revenue, expenses, and any significant business developments.
3. Research the company's market and competitive landscape within the miscellaneous retail sector.

Key Dates

• 2023-11-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-01-16: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing reviewed for Cell MedX Corp. in the current analysis period, providing baseline information.

Key Financial Figures

• $682,590 — nd current director assigned a total of $682,590 owed to it in separate transactions; of
• $425,590 — transactions; of this amount a total of $425,590 were transferred to the Company's relat
• $76,500 — , the Company's CEO assigned a total of $76,500 owed to him to Mr. Vahabzadeh a signifi
• $7,500 — he notes payable, excluding $ 5,522 (CAD$7,500) note payable, are secured by collatera
• $14,725 — d Jeffs (May 31, 2023 - $ 56,194 ). The $14,725 (CAD$20,000) loan bears 6 % annual inte
• $20,000 — 31, 2023 - $ 56,194 ). The $14,725 (CAD$20,000) loan bears 6 % annual interest and $7,
• $7,363 — 000) loan bears 6 % annual interest and $7,363 (CAD$10,000) loan bears 10% annual inte
• $10,000 — ears 6 % annual interest and $7,363 (CAD$10,000) loan bears 10% annual interest. These
• $3,059 — y as at May 31, 2023, being $ 2,249 (CAD$3,059), against the amount the Company owed t
• $90,000 — 7 ). The loans for a total principal of $90,000 are unsecured, and bear 10 % annual int
• $30,000 — s amount, a note payable for a total of $30,000 was payable on April 24, 2023, and as o
• $60,000 — . The remaining notes payable, totaling $60,000, are payable on demand. During the six-
• $118,587 — any owed to one of its lenders totaling $118,587 (Note 4), the terms of the acquired loa
• $411,000 — to him in exchange for loans totaling US$411,000 and CAD$26,800 to Mr. David Jeffs. The
• $26,800 — ge for loans totaling US$411,000 and CAD$26,800 to Mr. David Jeffs. The total amount re

Filing Documents

• cmxc-20231130.htm (10-Q) — 562KB
• 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
• 0001393905-24-000014.txt (&nbsp;) — 2416KB
• cmxc-20231130_cal.xml (EX-101.CAL) — 14KB
• cmxc-20231130_def.xml (EX-101.DEF) — 77KB
• cmxc-20231130_lab.xml (EX-101.LAB) — 133KB
• cmxc-20231130_pre.xml (EX-101.PRE) — 117KB
• cmxc-20231130.xsd (EX-101.SCH) — 30KB
• cmxc-20231130_htm.xml (XML) — 304KB

- 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 2

Quantitative and Qualitative Disclosure about Market Risk

Item 3. Quantitative and Qualitative Disclosure about Market Risk 6

Controls and Procedures

Item 4. Controls and Procedures 6

- OTHER INFORMATION

PART II - OTHER INFORMATION 8

Legal Proceedings

Item 1. Legal Proceedings 8

Risk Factors

Item 1A. Risk Factors 8

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 12

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 12

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 12

Other Information

Item 5. Other Information 12

Exhibits

Item 6. Exhibits 13

SIGNATURES

SIGNATURES 17 iii

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements The accompanying unaudited condensed consolidated financial statements of Cell MedX Corp. as at November 30, 2023, have been prepared by the Company's management in conformity with accounting principles generally accepted in the United States of America and in accordance with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' deficit in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the three- and six-month periods ended November 30, 2023, are not necessarily indicative of the results that can be expected for the year ending May 31, 2024. As used in this Quarterly Report, the terms "we," "us," "our," "Cell MedX," and the "Company" mean Cell MedX Corp. and its subsidiary, Cell MedX (Canada) Corp., unless otherwise indicated. All dollar amounts in this Quarterly Report are expressed in U.S. dollars. 1 CELL MEDX CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (EXPRESSED IN US DOLLARS) (UNAUDITED) November 30, 2023 May 31, 2023 ASSETS Current assets Cash $ 22,623 $ 98,295 Other current assets 260 4,975 Total assets $ 22,883 $ 103,270 LIABILITIES AND STOCKHOLDERS' DEFICIT Liabilities Accounts payable $ 648,176 $ 408,264 Accrued liabilities 8,331 36,560 Due to related parties 818,950 1,003,187 Notes and advances due to related parties 1,020,171 875,130 Notes and advances payable 52,747 165,609 Total liabilities 2,548,375 2,488,750 STOCKHOLDERS' DEFICIT Common stock, $ 0.001 par value, 300,000,000 shares authorized; 62,923,063 shares issued

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 The following discussion of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated financial statements, the notes to those financial statements and other financial information appearing elsewhere in this document. In addition to historical information, the following discussion and other parts of this document contain forward-looking statements that reflect plans, estimates, intentions, expectations and beliefs. Actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those set forth in the "Risk Factors" in Part II, Item 1A of this Quarterly Report. The discussion provided in this Quarterly Report should be read in conjunction with our Annual Report on Form 10-K for the year ended May 31, 2023, filed with the United States Securities and Exchange Commission (the "SEC") on September 1, 2023. Overview We were incorporated under the laws of the State of Nevada on March 19, 2010. On April 26, 2016, we formed our wholly owned subsidiary, Cell MedX (Canada) Corp., (the "Subsidiary") under the laws of the Province of British Columbia. We are a biotech company focused on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general health, pain relief, wellness and alleviate complications associated with medical conditions including, but not limited to: diabetes, Parkinson's disease, high blood pressure, neuropathy and kidney function. Our Subsidiary is engaged in development and manufacturing of therapeutic devices based on our proprietary eBalance Technology, which harnesses power of microcurrents and their effects on human body. Recent Corporate Developments Audit Committee On November 9, 2023, the Company announced that

View Full Filing

View this 10-Q filing on SEC EDGAR