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Cannabis Suisse Corp. reported a small profit but remains in fragile financial condition for the quarter ended November 30, 2025. The company generated no revenue in the quarter or year-to-date, compared with rental income of $7,500 and $15,000 in the prior-year periods, after its only sublease was terminated in February 2025.
Despite the lack of revenue, Cannabis Suisse posted net income of $22,392 for the quarter and $36,299 for the six months, driven largely by non-cash amortization of premiums on related-party convertible notes. The balance sheet shows total assets of $510,025 against liabilities of $2,275,698, resulting in a stockholders’ deficit of $1,765,673 and a working capital deficit of $316,580
Management discloses an accumulated deficit of $3,020,747 and states there is substantial doubt about the company’s ability to continue as a going concern. Operations are being funded primarily through advances and lease arrangements with the CEO and entities he controls, and the company also reports material weaknesses in internal controls and governance.
Cannabis Suisse Corp. reported a small net profit of
Total operating expenses rose to
The filing reiterates substantial doubt about the company’s ability to continue as a going concern, given limited revenues, an accumulated deficit of
Cannabis Suisse Corp. (CSUI) filed an amended annual report for the year ended May 31, 2025. The amendment is narrowly focused and was made solely to update the date of the Report of the Independent Registered Public Accounting Firm, replacing the version previously included on page 8 of the original filing. No other changes were made to the annual report.
The independent auditor, Mac Accounting Group & CPAs, LLP, issued an unqualified opinion stating that the financial statements present fairly the company’s financial position and results in conformity with U.S. GAAP. However, the auditor included a going concern paragraph noting that Cannabis Suisse Corp. has suffered recurring losses from operations and has a net capital deficiency, which raises substantial doubt about its ability to continue as a going concern. As of November 30, 2024, the aggregate market value of common stock held by non-affiliates was $7,862,930, and 70,680,938 common shares were issued and outstanding as of September 12, 2025.
Cannabis Suisse Corp., now focused on small-scale real estate rentals, reported minimal rental revenue of $22,500 for the year ended May 31, 2025, down from $30,000 as a key sublease ended in February 2025. Operating expenses rose to $288,445, leaving an operating loss of $288,013.
After interest, debt-related items and other non-operating charges, the net loss was $456,142, an improvement from the prior year’s $1,186,613 loss. Cash was only $2,850 with a working capital deficit of $218,679 as of May 31, 2025, and auditors issued a going concern opinion.
The company has 70,680,938 common shares outstanding as of September 12, 2025 and trades on the OTC Pink at $0.01 per share as of September 11, 2025. Its CEO controls a majority voting stake and holds convertible notes that could convert into 125,157,612 additional common shares, while most leases and financing are with entities he controls.