Cell MedX Corp. Files Q3 2024 10-Q

TL;DR

Cell MedX filed its 10-Q for Aug 31, 2024. Financials are in.

AI Summary

Cell MedX Corp. filed its 10-Q for the period ending August 31, 2024. The company, formerly known as Sports Asylum, Inc. and Plandel Resources, Inc., is incorporated in Nevada and operates in the surgical and medical instruments sector. Its principal business address is in Vancouver, Canada.

Why It Matters

This filing provides investors with an update on Cell MedX Corp.'s financial performance and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can reveal significant risks or opportunities, but without specific financial performance data, the risk level is assessed as medium.

Key Players & Entities

• Cell MedX Corp. (company) — Filer
• Sports Asylum, Inc. (company) — Former company name
• Plandel Resources, Inc. (company) — Former company name
• August 31, 2024 (date) — Reporting period end date
• October 15, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $3,165 — areholder, agreed to forgive a total of $3,165 the Company owed for royalties. The for
• $30,000 — re unsecured and payable on demand. The $30,000 loan was payable on April 24, 2023, and
• $70,000 — . The remaining notes payable, totaling $70,000, are payable on demand. During the thre
• $51,054 — rating expenses increased by 16.8% from $51,054 incurred during the three months ended
• $59,636 — three months ended August 31, 2023, to $59,636 incurred during the three months ended
• $22,500 — The largest change was associated with $22,500 the Company incurred in management fees
• $34,894 — 2023. In addition, the Company incurred $34,894 in consulting fees, which increased by
• $4,893 — in consulting fees, which increased by $4,893 as compared to $30,001 the Company incu
• $30,001 — hich increased by $4,893 as compared to $30,001 the Company incurred during the three-m
• $9,705 — trative expenses, which were reduced by $9,705, from $26,156 for the three-month perio
• $26,156 — ses, which were reduced by $9,705, from $26,156 for the three-month period ended August
• $16,451 — -month period ended August 31, 2023, to $16,451 for the three-month period ended August
• $10,232 — 024. This change was mostly caused by a $10,232 reduction in accounting and audit fees,
• $3,744 — dit fees, which was in part offset by a $3,744 increase in corporate communications.
• $7,006 — ed August 31, 2024, the Company accrued $7,006 (August 31, 2023 - $17,070) in interest

Filing Documents

• cmxc-20240831.htm (10-Q) — 387KB
• 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
• 0001393905-24-000350.txt ( ) — 1724KB
• cmxc-20240831_cal.xml (EX-101.CAL) — 18KB
• cmxc-20240831_def.xml (EX-101.DEF) — 40KB
• cmxc-20240831_lab.xml (EX-101.LAB) — 99KB
• cmxc-20240831_pre.xml (EX-101.PRE) — 84KB
• cmxc-20240831.xsd (EX-101.SCH) — 19KB
• cmxc-20240831_htm.xml (XML) — 180KB

- 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 August 31, 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-month period ended August 31, 2024, are not necessarily indicative of the results that can be expected for the year ending May 31, 2025. 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) August 31, 2024 May 31, 2024 ASSETS Current assets Cash $ 20,552 $ 43,415 Other current assets 1,845 2,707 Total assets $ 22,397 $ 46,122 LIABILITIES AND STOCKHOLDERS' DEFICIT Liabilities Accounts payable $ 311,167 $ 288,891 Accrued liabilities 6,705 28,058 Due to related parties 280,848 231,138 Notes and advances due to related parties 332,407 324,490 Total liabilities 931,127 872,577 STOCKHOLDERS' DEFICIT Common stock, $ 0.001 par value, 7,500,000,000 shares authorized; 297,236,373 shares issued and outstanding at August 31, 2024, and May 31, 2024 297,236 2

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 the Company's financial condition and results of operations should be read in conjunction with the Company's 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 the Company's Annual Report on Form 10-K for the year ended May 31, 2024, filed with the United States Securities and Exchange Commission (the "SEC") on August 29, 2024. Overview The Company was incorporated under the laws of the State of Nevada on March 19, 2010. On April 26, 2016, the Company formed a 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. Results of Operations for

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