Cell MedX Corp. Files Form 10-Q for Period Ending February 29, 2024

TL;DR

<b>Cell MedX Corp. has filed its quarterly report (10-Q) for the period ending February 29, 2024, providing an update on its financial status.</b>

AI Summary

Cell MedX Corp. (STME) filed a Quarterly Report (10-Q) with the SEC on April 15, 2024. Cell MedX Corp. filed a Form 10-Q for the quarterly period ended February 29, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on May 31st. Previous company names include Sports Asylum, Inc. and Plandel Resources, Inc. The company is incorporated in Nevada.

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 and operational details for Cell MedX Corp. during the specified quarter. Understanding the 10-Q is crucial for assessing the company's financial health, recent performance trends, and potential future outlook.

Risk Assessment

Risk Level: low — Cell MedX Corp. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial disclosures or events that would indicate a high-risk profile based solely on this document.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Cell MedX Corp.'s performance and outlook.

Key Numbers

• 2024-02-29 — Period End Date (Quarterly period)
• 2024-04-15 — Filing Date (Date the report was filed)
• 0531 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• Cell MedX Corp. (company) — Filer name
• 2024-02-29 (date) — Period of report
• 2024-04-15 (date) — Filing date
• Sports Asylum, Inc. (company) — Former company name
• Plandel Resources, Inc. (company) — Former company name
• NV (state) — State of incorporation
• 844-238-2692 (phone) — Business phone number

FAQ

Industry Context

Cell MedX Corp. operates within the miscellaneous retail sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for the quarter ended February 29, 2024.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations.
3. Check for any significant updates or changes in business operations or financial condition.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 10-K filed for the fiscal year ended May 31, 2023.

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 — ompany's former CEO assigned a total of $76,500 owed to him to Mr. Vahabzadeh a signifi
• $411,000 — able the Company issued to him totaling $411,000 and CAD$26,800 to Mr. David Jeffs. The
• $26,800 — issued to him totaling $411,000 and CAD$26,800 to Mr. David Jeffs. The total amount re
• $477,420 — mount reassigned including interest was $477,420. On assignment, the terms of the notes
• $30,000 — re unsecured and payable on demand. The $30,000 loan was payable on April 24, 2023, and
• $105,000 — mpany that he had reassigned a total of $105,000 to two members of his family. On Decem
• $70,000 — . The remaining notes payable, totaling $70,000, are payable on demand. During the nine
• $2,249 — o the Company as at May 31, 2023, being $2,249 (CAD$3,059), against the amount the Com
• $3,059 — ny as at May 31, 2023, being $2,249 (CAD$3,059), against the amount the Company owed t
• $167,000 — t") acquired, in a private transaction, $167,000 in debt the Company owed to an entity c
• $118,587 — yable on the day of the transaction was $118,587. Upon the sale, the terms of the loans
• $0.007 — shares of the Company's common stock at $0.007 per share, which resulted in Mr. Ahdoot

Filing Documents

• cmxc-20240229.htm (10-Q) — 648KB
• cmxc_ex1071.htm (EX-10.71) — 10KB
• cmxc_ex1072.htm (EX-10.72) — 10KB
• 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
• 0001393905-24-000138.txt (&nbsp;) — 2793KB
• cmxc-20240229_cal.xml (EX-101.CAL) — 20KB
• cmxc-20240229_def.xml (EX-101.DEF) — 78KB
• cmxc-20240229_lab.xml (EX-101.LAB) — 143KB
• cmxc-20240229_pre.xml (EX-101.PRE) — 132KB
• cmxc-20240229.xsd (EX-101.SCH) — 33KB
• cmxc-20240229_htm.xml (XML) — 384KB

- 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 7

Controls and Procedures

Item 4. Controls and Procedures 7

- OTHER INFORMATION

PART II - OTHER INFORMATION 9

Legal Proceedings

Item 1. Legal Proceedings 9

Risk Factors

Item 1A. Risk Factors 9

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 14

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 14

Other Information

Item 5. Other Information 14

Exhibits

Item 6. Exhibits 15

SIGNATURES

SIGNATURES 18 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 February 29, 2024, 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 nine-month periods ended February 29, 2024, 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) February 29, 2024 May 31, 2023 ASSETS Current assets Cash $ 79,677 $ 98,295 Other current assets 2,241 4,975 Total assets $ 81,918 $ 103,270 LIABILITIES AND STOCKHOLDERS' DEFICIT Liabilities Accounts payable $ 277,054 $ 408,264 Accrued liabilities 13,102 36,560 Due to related parties 179,710 1,003,187 Notes and advances due to related parties 321,998 875,130 Notes and advances payable - 165,609 Total liabilities 791,864 2,488,750 STOCKHOLDERS' DEFICIT Common stock, $ 0.001 par value, 7,500,000,000 shares authorized; 294,736,373 and 62,923,063

View Full Filing

View this 10-Q filing on SEC EDGAR