Mon, Jan 13, 9:33 PM (28 days ago)
For the quarter ending November 30, 2024, Cannabis Suisse Corp. (CSE: CANN) reported revenues of $7,500, consistent with the same period in 2023, while total revenue for the six months was $15,000. The cost of goods sold increased slightly to $7,356, leading to a gross profit of $144. Operating expenses surged to $92,453 due to heightened professional fees and administrative costs, resulting in an operating loss of $92,309. Other income included a significant gain from debt premium amortization, contributing to a net income of $5,062 for the quarter, contrasting sharply with a loss of $54,797 in the prior year. However, the year-to-date net loss reached $530,024, indicating ongoing financial challenges. As of November 30, 2024, total assets decreased to $751,847, while total liabilities rose to $2,627,701, leading to a stockholders' deficit of $1,875,854. The company's liquidity remains precarious, with cash dwindling to $4,100 and a working capital deficit of $143,584. The management expressed doubts about the company's ability to continue as a going concern without additional capital. Future operations may be significantly impacted by these financial uncertainties and the need for further investment.