Cannabis Suisse Corp. (CSUI) reported net income of $55,127 for the three months ended August 31, 2026, versus $13,907 a year earlier. Net income included $98,442 of other income, consisting of $114,739 of debt-premium amortization offset by $16,297 of related-party interest expense. Rental revenue from a CEO-controlled entity was $21,000, compared with $21,931 of related rental cost.
Operating expenses were $42,384, versus $84,535, and operating cash flow was $12,780 provided, versus $11,545 used in the prior-year quarter. At August 31, 2026, cash was $256 and the working capital deficit was $535,137. Management disclosed substantial doubt about the company’s ability to continue as a going concern and concluded internal controls were ineffective because of material weaknesses. A $107,000 unpaid-rent liability on an expired lease remained classified as in default. After quarter-end, the CEO advanced $27,000 for operations, and the related-party sublease continued month-to-month at $7,000 monthly.
Cannabis Suisse Corp. reported net income of $122,739 for the year ended May 31, 2026, versus a net loss of $456,142 for the year ended May 31, 2025. Rental revenue was $21,000, down approximately 7% from $22,500, while $21,931 of rental costs produced a $931 gross loss. Operating expenses were $266,888. Fiscal 2026 other income included $455,214 of noncash amortization of debt premium; fiscal 2025 included a $551,677 loss on debt settlement.
As of May 31, 2026, CSUI had $476 in an escrow account, a $512,212 working-capital deficit and $107,000 of operating lease liabilities in default. Its auditor and management cited substantial doubt about continuing as a going concern; management expects continued reliance on financing and related-party funding. Management identified three material weaknesses and concluded internal control over financial reporting was ineffective. Fiscal 2026 rental income came from a sublease with CEO-controlled RLSH, LLC, which began March 1, 2026, at $7,000 monthly. CEO Scott McAlister funded $28,000 for operations in August and September 2026.
CANNABIS SUISSE CORP. (CSUI) notified the SEC that it will file its Form 10-K for the period ended May 31, 2026 late, using a Form 12b-25 extension. The company states that its outside auditors have not yet completed work on compiling the financial information required for the Form 10-K, and it expects to complete this work and file the report within the allowed extended period of up to fifteen calendar days after the original due date.
Cannabis Suisse Corp. reports a small profit while remaining under severe financial strain. For the nine months ended February 28, 2026, the company earned net income of $63,207, mainly from non-cash amortization of debt premiums rather than ongoing operations.
The business generated no revenue this quarter after its only sublease ended in February 2025. Operating expenses were $69,394 for the quarter and $228,909 for nine months. Total other income was $292,116, largely from amortizing prior convertible note premiums.
Liquidity remains extremely weak: cash was just $75 with a working capital deficit of $357,644 and an accumulated deficit of $2,993,839. Total assets were $455,714 against liabilities of $2,194,479, leaving a stockholders’ deficit of $1,738,765.
Management states there is substantial doubt about the company’s ability to continue as a going concern and expects to rely on related-party funding and potential capital market transactions. Internal controls over financial reporting are described as ineffective, with material weaknesses in governance, segregation of duties, and IT controls.
Cannabis Suisse Corp. filed a Form 12b-25 notifying the SEC that its periodic report for the period ended February 28, 2026 will be late because the outside auditors are completing their review. The company states the report will be filed under Rule 12b-25 and provides a contact and an authorized signature dated April 14, 2026.
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 $13,907 for the three months ended August 31, 2025, after a prior-year net loss of $535,086. The improvement came despite revenue falling to $0 from $7,500 as its only sub-lease was terminated, with results driven largely by non-cash amortization of debt premiums and related-party financing arrangements.
Total operating expenses rose to $84,535, mainly from higher general and administrative and rental costs now borne without sub-lease income. The company remains highly leveraged to related parties, with total liabilities of $2,358,409 against total assets of $570,344 and a stockholders’ deficit of $1,788,065.
The filing reiterates substantial doubt about the company’s ability to continue as a going concern, given limited revenues, an accumulated deficit of $3,043,139, working capital deficit of $273,201, and cash of only $305, leaving it reliant on loans and advances from its CEO and other related-party financing. Management also discloses material weaknesses in internal controls, including lack of an independent board, weak governance, and inadequate segregation of duties.
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.