x~~QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES~~(Mark One)

For the transition period from ~~___________~~_______________ to ~~______________~~_______________

~~China Infrastructure Construction Corporation~~CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC.

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the ~~registrant~~Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the ~~registrant~~Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x☐ Yes ¨☒ No

Indicate by check mark whether the ~~registrant~~Registrant has submitted electronically ~~and posted on its corporate Web site, if any,~~ every Interactive Data File required to be submitted ~~and posted~~ pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the ~~registrant~~Registrant was ~~Required~~required to submit ~~and post~~ such files).

Indicate by check mark whether the ~~registrant~~Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated ~~filer”,~~filer,” “accelerated ~~filer”~~filer,” “smaller reporting company,” and ~~“smaller reporting~~“emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the ~~registrant~~Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). £☐ Yes x☒ No

AsIndicate the number of ~~April 20, 2012, there were~~shares outstanding ~~14,095,620~~of each of the issuer’s classes of common stock, as of the latest practicable date: 10,381,749,347 shares of ~~the registrant’s~~ common stock ~~no par value.~~

~~CHINA INFRASTRUCTURE CONSTRUCTION CORPORATION~~(formerly named China Infrastructure Construction Corp.)

The accompanying notes are an integral part of ~~this statement.~~these consolidated financial statements.

~~CHINA INFRASTRUCTURE CONSTRUCTION CORPORATION~~CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC.

The accompanying notes are an integral part of ~~this statement.~~these consolidated financial statements.

~~CHINA INFRASTRUCTURE CONSTRUCTION CORPORATION~~CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC.

The accompanying notes are an integral part of these consolidated financial statements.

~~China Infrastructure Construction Corporation (“China Infrastructure”~~Note 1 – Organization and Business

Cannabis Bioscience International Holdings, Inc., a Colorado corporation (the “Company”), ~~formerly Fidelity Aviation Corporation,~~ was ~~organized~~formed on February 28, 2003, as a limited liability company under the name Fidelity Aircraft Partners LLC. On December 16, 2009, it converted to a corporation under the name Fidelity Aviation Corporation, and on August 24, 2009, it changed its name to China Infrastructure Construction Corp. On February 28, 2018, the Company changed its name to Hippocrates Direct Healthcare, Inc.; on July 4, 2018, it resumed the name China Infrastructure Construction Corp. On December 6, 2022, it changed its name to its present name. The Company provides educational systems focused on medical cannabis in cities throughout the United States and six countries in Latin America. The Company provides services to third parties in therapeutic areas of clinical trials and conducts clinical trials relating to cannabinoids for its own account. The Company has one non-operating subsidiary, Alpha Fertility and Sleep Center, LLC, a ~~Colorado~~Texas limited liability company, (“Fidelity LLC”). On December 16, 2004, Fidelity LLC converted itself into Fidelity Aviation Corporation by filing a Statement of Conversion and Articles of Incorporation with the Colorado Secretary of State. Fidelity was formed to purchase large commercial (transport category) jet airframes, salvage the usable aircraft parts and components from them and sell the parts and components. The Board of Directors evaluated the future market for aircraft partsthrough which it conducted its sleep center business ~~and resolved not to pursue this line of business anymore.~~until April 30, 2023.

On October 8, 2008, China Infrastructure entered into and consummated the transactions contemplated under a Share Exchange Agreement with Northern Construction Holdings, Ltd., a Hong Kong limited company (“NCH”) and its shareholder pursuant to which China Infrastructure issued 1,200,000 (12,000,000 pre-reverse split) sharesNote 2 – Summary of ~~China Infrastructure common stock (the “Share Exchange”) in exchange for all issued and outstanding common stock of NCH.~~Significant Accounting Policies

The Share Exchange resulted in (i) a change in control of China Infrastructure with the shareholder of NCH owning approximately 78% of issued and outstanding shares of common stock of China Infrastructure, (ii) NCH becoming a wholly-owned subsidiary of China Infrastructure, and (iii) appointment of certain nominees of the shareholder of NCH as directors and officers of China Infrastructure and resignation of John Schoenauer as director, Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer of China Infrastructure.Accounting Principles

As a result of the Share Exchange Agreement, Beijing Fortune Capital Management Co., Ltd. (“BFCM”), a 95% owned subsidiary of NCH, became our indirect majority-owned subsidiary. Also as a result of the Share Exchange Agreement, Beijing Chengzhi Qianmao Concrete Co., Ltd., (“Beijing Concrete”), the operating company, and a 99.5% owned subsidiary of BFCM, also became our indirect majority-owned subsidiary.

For accounting purposes, the share exchange transaction was treated as a capital transaction where the acquiring corporation issued stock for the net monetary assets of the shell corporation, accompanied by a recapitalization. The accounting is similar in form to a reverse acquisition, except that goodwill or other intangibles are not recorded. All references to NCH common stock have been restated to reflect the equivalent numbers of China Infrastructure common shares.

On January 15, 2010, Beijing Concrete increased its registered capital from RMB 15 million (approximately $2.2 million) to RMB 30 million (approximately $4.4 million) and BFCM increased its investment in Beijing Concrete accordingly. Its share capital increased from RMB 10 million (approximately $1.47 million) to RMB 15 million (approximately $2.2 million). As a result, BFCM owns 99.67% of Beijing Concrete from January 15, 2010.

On February 1, 2010, Beijing Concrete formed a subsidiary, Shaanxi Hongruida Concrete Ltd. (“Hongruida”) and contributed RMB 10 million (approximately $1.47 million) to its capital. Beijing Concrete is the sole shareholder of Hongruida. Hongruida was organized to implement the 10-year strategic cooperative agreement with one of the Company’s major clients, China Railway Construction Group Co., Ltd (“CRCG”). Under the Agreement, the Company and CRCG will jointly manage the concrete mixing stations to be operated by Hongruida. CRCG will provide the cement for manufacturing the concrete mix in such concrete mixing stations, and will be able to purchase the concrete mix at discounted prices. Also, in accordance with the Agreement, each party will lease certain equipment to the concrete mixing stations. The Company and CRCG will share 75% and 25% of the annual profits of such concrete mixing stations in Xi’an. Hongruida commenced its operations at the end of March 2010.

On June 27, 2011, the Company formed a new subsidiary, Laoting County Kejian Concrete Co. Ltd, in Tangshan, Hebei Province. The new subsidiary is a joint venture with 51% owned by Beijing Concrete and 49% owned by two other individuals. The total registered capital is 12 million RMB, about USD $2.34 million.

When we refer in this report to business and financial information for periods prior to the consummation of the reverse acquisition, we are referring to the business and financial information of NCH on a consolidated basis unless the context suggests otherwise.

The Company through its subsidiaries in Hong Kong and the People’s Republic of China (“PRC” or “China”), engages in the production of ready-mixed concrete for developers and the construction industry in the PRC. In addition, we have a technical service agreement with an independently owned concrete mixture station, pursuant to which we are paid by percentages of sales for technical support provided.

The accompanying unaudited consolidated financial statements ~~are~~have been prepared by management using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“USU.S. GAAP”)~~. This basis differs from that used in~~ for interim financial statements and with the ~~statutory accounts~~instructions to Article 10 of Regulation S-X of the ~~Company, which were prepared in accordance with~~U.S. Securities and Exchange Commission (the “SEC”). Accordingly, they do not contain all of the ~~accounting principles~~information and ~~relevant~~footnotes required by U.S. GAAP for annual financial ~~regulations applicable to enterprises in~~statements. In the ~~PRC. All~~opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary ~~adjustments have been made~~(consisting only of normal recurring accruals) to present the financial ~~statements in accordance with US GAAP.~~

The Company faces a number of risks and challenges as a result of having primary operations and marketing in the PRC. Changing political climates in the PRC could have a significant effect on the Company’s business.

The directors, executive officers and their affiliates or related parties own, beneficially and in the aggregate, the majority of the voting power of the registered capital of the Company. Accordingly, the directors, executive officers and their affiliates, if they voted their shares uniformly, would have the ability to control the approval of most corporate actions, including increasing the authorized capital stockposition of the Company at November 30, 2023, and the ~~dissolution, merger or sale~~results of operations and cash flows for the periods presented. The results of operations for the six months ended November 30, 2023, are not necessarily indicative of the ~~Company’s assets.~~

~~The~~operating results for the full fiscal year or any future period. These unaudited consolidated financial statements ~~include~~should be read in conjunction with the audited financial statements ~~of China Infrastructure,~~ and ~~its wholly-owned and majority-owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. The Company’s foreign subsidiaries have fiscal~~related notes thereto for the year ~~ends of~~ended May 31, ~~and the results are consolidated up to that date. Non-controlling interests consist of other stockholders’ ownership interests in majority-owned subsidiaries of the Company.~~

The preparation of financial statements in conformity with ~~generally accepted accounting principles~~U.S. GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and ~~disclosures~~disclosure of contingent assets and liabilities at the ~~date~~dates of the financial statements and the reported amounts of ~~income~~revenue and expenses during the reporting ~~period.~~periods. Making estimates requires management to exercise significant judgment. Certain of these estimates could be affected by external conditions, including those unique to the Company’s businesses, and general economic conditions. These external conditions could have an effect on the Company’s estimates that could cause actual results to differ materially from its estimates. Actual results could differ from those estimates. The Company re-evaluates all of its accounting estimates at least quarterly based on these conditions and records adjustments when necessary. Significant estimates relied upon in preparing these statements include revenue recognition, accounts receivable reserves, accrued expenses, share-based compensation and the recoverability of the Company’s net deferred tax assets and any related valuation allowance.

For purposes of the statements of cash flows, cash and cash equivalents includes cash on hand and demand deposits held by banks. Deposits held in financial institutions in the PRC are not insured by any government entity or agency.

~~Restricted cash represents deposits held in the escrow account and are not insured by any government entity or agency.~~Principles of Consolidation

The consolidated financial statements include the accounts of the Company ~~extends unsecured credit to~~and its ~~customers~~wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Certain amounts in the ~~ordinary course~~prior consolidated financial statements have been reclassified to conform to the presentation of ~~business but mitigates~~ the ~~associated risks by performing credit checks~~current period financial statements. These reclassifications had no impact on the results of operations, changes in equity, or cash flows.

Cash equivalents are short-term, highly liquid investments that are readily convertible to cash with original maturities of three months or less at the date acquired. The Company had zero investment securities that were deemed cash equivalents at November 30, 2023, and May 31, 2023, respectively.

Included in accounts receivable on the balance sheets are ~~recognized~~amounts primarily related to customers. The Company estimates losses on receivables based on known troubled accounts and ~~carried at original invoice amount less an allowance for any uncollectible amounts. An~~historical experience of losses incurred. Receivables are considered impaired and written off when it is probable that all contractual payments due will not be collected in accordance with the terms of the related agreement. Based on experience and the judgment of management, there was no allowance for doubtful accounts ~~is established~~at November 30, 2023, and determined based on management’s regular assessment of known requirements, aging of receivables, payment history, the customer’s current credit worthiness and the economic environment. These factors continuously change, and can have an impact on collections and the Company’s estimation process. These impacts may be material. Management reviews and maintains an allowance for doubtful accounts that reflects the management’s best estimate of potentially uncollectible trade receivables. Certain accounts receivable amounts are charged off against allowances after a designated period of collection efforts. Subsequent cash recoveries are recognized as income in the period when they occur. The ultimate collection of the Company’s accounts receivable may take more than one year, and any portion of accounts receivable expected to be collected more than one year from the sale date is reflected as noncurrent, net of allowance for doubtful accounts relating to that portion of the receivables. The bifurcation between current and noncurrent portions of accounts receivable is based on management’s estimate and historical collection experience.

Inventories are stated at the lower of cost, determined on a weighted average basis, and net realizable value. Net realizable value is the estimated selling price, in the ordinary course of business, less estimated costs to complete and dispose.

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the useful lives of the assets. Major renewals are capitalized and depreciated; maintenance and repairs that do not extend the life of the respective assets are charged to expense as incurred. Upon disposal of assets, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in income. Depreciation related to property and equipment is reported in cost of revenues. Property, plant and equipment are depreciated over their estimated useful lives as follows:

~~Long-lived assets of the Company are reviewed annually to assess whether the carrying value has become impaired according to the guidelines established in FASB Codification (ASC) 360~~. The Company considers assets to be impaired if the carrying value exceeds the future projected cash flows from related operations. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives. As of February 29, 2012, the Company expects these assets to be fully recoverable. No impairment of assets was recorded in the periods reported.

~~Accumulated other comprehensive income represents foreign currency translation adjustments.~~

The Company receives revenue from sales of concrete products and from provision of manufacturing service. The Company's revenue recognition policies are in compliance with ASC 605. Revenue is recognized at the date of shipment to customers or manufacturing services have been rendered when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured. Both of our product sales and manufacturing service are non-returnable. Therefore, we do not estimate deductions or allowance for returns. Revenues are presented net of any discounts, reward, or incentive given to customers. Payments received before all of the relevant criteria for revenue recognition are satisfied are recorded as unearned revenue.2023.

Our products delivered to customers are checked on site by customers and, once the products are accepted by customers, they will sign the acceptance notice. There is no warranty issue after the delivery.

Similar to sales of concrete products, we delivered products on which we provided manufacturing service to customers or provided manufacturing service on site. Customers check products upon receipt and will sign the acceptance notice once the products are accepted. There is no warranty issue after the acceptance.

Reward or incentive given to our customers is an adjustment of the selling prices of our products; therefore, the consideration is characterized as a reduction of revenue when recognized in our income statement.

The Company ~~recognizes its~~follows the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606), as amended. This standard requires a company to recognize revenues ~~net of value-added taxes (“VAT”). The Company enjoys a free VAT policy according~~when it transfers goods or services to customers in an amount that reflects the national policy, which encourages the development of the cement industry if the manufacturer satisfies the environmental protection requirements. The Company has enjoyed the free VAT policy from January 1, 2006consideration that it expects to ~~December 31, 2010. Starting from January 1, 2011,~~receive for them.

Under ASU No. 2014-09, the Company ~~is subject to VAT which is levied at the rate~~recognizes revenue when a customer obtains control of ~~6% on the invoiced value of sales.~~

~~Cost of~~promised goods sold consists primarily of the costs of the raw materials, freight charges, direct labor, depreciation of plant and machinery, warehousing cost and overhead associated with the manufacturing process and commission expenses.

~~ASC 605-45-20 “Shipping and Handling Costs” establishes standards for the classification of shipping and handling costs. All amounts billed~~or services, or when they are shipped to a customer, ~~related~~in an amount that reflects the consideration that it expects to ~~shipping~~receive in exchange for them. The Company recognizes revenues following the five-step model prescribed under ASU No. 2014-09: (a) it identifies a contract with a customer; (b) it identifies the performance obligations in the contract; (c) it determines the transaction price; (d) it allocates the transaction price to the performance obligations in the contract; and ~~handling are classified as revenue.~~(e) it recognizes revenues when (or as) it satisfies its performance obligation.

The Company generates revenue from multiple streams, namely, clinical trials, consulting fees, seminars and merchandise sales. Revenues from product sales are recognized when a customer obtains control of the Company’s product, which occurs at a point in time or over time, typically upon shipment to the customer or when services are fulfilled and the customer receives benefit from such services. Revenue is deferred and a liability is established to the extent that the Company receives payments from customers in advance of goods being shipped or services being rendered.

The Company expenses ~~advertising~~incremental costs of obtaining a contract as ~~incurred. Advertising costs,~~and when incurred if ~~any,~~the expected amortization period of the asset in which it would have been recognized is one year or less or the amount is immaterial.

A performance obligation is a contractual promise to transfer a distinct product or service to a customer and is the unit of account in the new revenue standard. The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Each contract has a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. Revenue from contracts that satisfy the criteria for overtime recognition is recognized as the work progresses. The majority of the Company’s revenue is derived from services provided to customers and is executed typically over a period that is typically between 1 to 12 months, based on evaluation of when these services are ~~included~~rendered. Contracts will continue to be recognized over time because of the continuous transfer of control to the customer as services are rendered to customers. Payments made by customers in ~~selling, general and administrative expense~~advance of services being rendered are recorded as deferred revenue.

Our significant payment terms for customer contracts vary based on the ~~income statement.~~

~~The accompanying financial statements~~revenue stream. Franchising business clients are ~~presented in US dollars. The functional currency~~required to advance a percentage of the ~~Company is U.S. Dollars and that of Beijing Concrete is the Renminbi (“RMB”)~~franchise fee upon acceptance of the ~~PRC.~~contract. These advances, when received, are accounted for as contract liabilities on the consolidated balance sheet and are subsequently recognized in revenue when they are earned. Contracts for clinical trials typically provide for progress payments based on the number of patients seen, with final payments generally due within 30 days upon completion of work or the termination of the contract. Revenue is recognized when all performance obligations under the terms of a contract are satisfied. The ~~financial statements~~Company requires advance payments from its consulting customers and these payments are ~~translated into US dollars from RMB~~recorded as contract liabilities on the consolidated balance sheet until service is performed and revenue is recognized. These advance payments are not treated as financing component based on the guidance in ASC 606-10-32-196-16 and -17, whereby the timing of when services are provided are at ~~period-end exchange rates for assets~~the discretion of the customers or a substantial amount of the consideration promised by the customer is variable and ~~liabilities, and weighted average exchange rates for revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.~~

~~On July 21, 2005, the PRC changed its foreign currency exchange policy from a fixed RMB/USD exchange rate into a flexible rate under~~not in the control of the ~~PRC’s government. We use~~customer or the ~~Closing Rate Method in currency translation of the financial statements of the~~ Company.

~~RMB is not freely convertible into the currency of other nations. All such exchange transactions must take place through authorized institutions.~~ There is no ~~guarantee~~significant financing component to any of the ~~RMB~~Company’s contracts.

Contracts for educational services require nonrefundable payment in advance and are recorded as revenue when received.

Contracts for the Company’s clinical trial business are subject to modification. These modifications may create new, or change existing, enforceable rights and obligations of the parties thereto. Modifications are generally effected pursuant to an amendment or addendum to the original contract. A contract modification is accounted for as a new contract if it reflects an increase in scope that is regarded as distinct from the original contract and is priced in line with the standalone price for the related services. If a contract modification is not considered a new contract, the modification is combined with the original contract and the impact on revenue recognition will depend on whether the remaining services are distinct from the original contract. If they are distinct from those in the original contract, all remaining performance obligations will be accounted for on a prospective basis, with unrecognized consideration allocated to the remaining performance obligations. If the remaining goods or services are not distinct, the modification will be treated as if it were a part of the existing contract and the effect that the contract modification has on the transaction price and the measure of progress toward satisfaction of the performance obligations are recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) at the date of the contract modification on a cumulative catch-up basis.

The Company follows ASC 606, which requires the allocation of the transaction price to the remaining performance obligations of a contract and applies a practical expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less. At November 30, 2023, and May 31, 2023, the Company had no remaining performance obligations.

ASC 718, “Compensation – Stock Compensation,” prescribes accounting and reporting standards for all share-based payment transactions. In June 2018, FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which aligns accounting for share-based payments issued to non-employees to that of employees under the existing guidance of Topic 718, with certain exceptions. This update supersedes previous guidance for share-based payments to non-employees under Subtopic 505-50, Equity – Equity-Based Payments to Non-Employees. This guidance became effective for the Company on January 1, 2019. Based on its completed analysis, the Company has determined that adopting this guidance will not have a material impact on its financial statements. The Company follows FASB guidance related to equity-based payments, which requires that equity-based compensation be accounted for using a fair value method and recognized as expense in the accompanying statements of operations. Equity-based compensation expense will be recognized as compensation expense.

The Company has adopted ASU 2016-02, Leases (Topic 842), along with related clarifications and improvements, under which lessees are required to recognize a lease liability, which represents the discounted obligation to make future minimum lease payments and a corresponding right-of-use asset on the balance sheet for most leases. The guidance retains the historical accounting for lessors and does not make significant changes to the recognition, measurement, and presentation of expenses and cash flows by a lessee. Enhanced disclosures are also required to give financial statement users the ability to assess the amount, timing and uncertainty of cash flows arising from leases.

The Company follows ASU 2016-18, “Statement of Cash Flows (Topic 230),” requiring that the statement of cash flows explain the change in the total cash, cash equivalents, and amounts ~~could have been,~~generally described as restricted cash or ~~could~~restricted cash equivalents. The provisions of this guidance are to be ~~converted into US dollars at rates~~applied using a retrospective approach, which requires application of the guidance for all periods presented.

The Company has adopted ASC Topic 820, Fair Value Measurements, which defines fair value as used in ~~translation.~~numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair-value measurements.

The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, is carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The carrying amounts of the Company’s short- and long-term credit obligations approximate fair value because the effective yields on these obligations, which include contractual interest rates taken together with other features, such as concurrent issuances of warrants and/or embedded conversion options, are comparable to rates of returns for instruments of similar credit risk.

ASC Topic 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC Topic 820 also establishes a fair-value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC Topic 820 describes three levels of inputs that may be used to measure fair value:

Level 2: Quoted prices for similar assets and liabilities in active markets or inputs that are observable.

Level 3: Inputs that are unobservable (for example, cash flow modeling inputs based on assumptions).

The Company accounts for income taxes in accordance with Accounting Standards Codification No. 740, “Income Taxes” (“ASC ~~740 (formerly SFAS 109, “Accounting for Income Taxes.”~~740”) ~~Under~~. This codification prescribes the use of the asset and liability method ~~as required by ASC 740 ,~~whereby deferred ~~income taxes~~tax asset and liability account balances are ~~recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to~~determined based on differences between ~~the~~ financial ~~statement carrying amounts~~reporting and ~~the~~ tax bases of ~~existing~~ assets and ~~liabilities. Under ASC 740,~~liabilities and for carryforward tax losses. Deferred taxes are measured using the ~~effect on deferred income taxes of a change in~~enacted tax rates ~~is recognized~~and laws that will be in ~~income in~~effect when the ~~period that includes the enactment date. A~~differences are expected to reverse. The Company provides a valuation allowance, ~~is recognized~~if necessary, to reduce deferred tax assets to their estimated realizable value if it is more likely than not that some portion or all of athe deferred tax asset will not be realized.

~~ASC 740 (formerly FIN 48) clarifies~~Deferred tax liabilities and assets are classified as current or noncurrent based on the ~~accounting and disclosure~~classification of the related asset or liability for financial reporting or according to the expected reversal dates of the specific temporary differences, if not related to an asset or liability for financial reporting.

The Company accounts for uncertain tax positions ~~and prescribes a recognition threshold and measurement attribute for recognition and measurement~~in accordance with the provisions of ASC 740, which provides guidance as to the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in its financial statements, under which a company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.

The tax benefits recognized in financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Accordingly, the Company would report a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. ~~ASC 740 also provides guidance on de-recognition, classification,~~The Company elects to recognize any interest and penalties, ~~accounting~~if any, related to unrecognized tax benefits in ~~interim periods, disclosure and transition.~~tax expense.

Under ASC 740, evaluation of a tax position is a two-step process. The first step is to determine whether it is more-likely-than-not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met.

The Company’s operations are subject to income and transaction taxes in the United States, Hong Kong, and the PRC jurisdictions. Significant estimates and judgments are required in determining the Company’s worldwide provision for income taxes. Some of these estimates are based on interpretations of existing tax laws or regulations, and as a result the ultimate amount of tax liability may be uncertain. However, the Company does not anticipate any events that would lead to changes to these uncertainties.Loss per Share

The Company and its subsidiaries are subject to income taxes on an entity basis on income arising in, or derived from, the tax jurisdiction in which they operate. Effective January 1, 2009, the PRC government implemented a new 25% tax rate across the board for all enterprises regardless of whether domestic or foreign enterprise without any tax holiday which is defined as "two-year exemption followed by three-year half exemption" hitherto enjoyed by taxpayers. As a result of the new tax law of a standard 25% tax rate, tax holidays terminated as of December 31, 2008. However, the PRC government has established a set of transition rules to allow enterprises who had already started tax holidays, before January 1, 2009, to continue enjoying the tax holidays until being fully utilized. The exemption of income tax to the Company lasted until December 31, 2010, and from January 1, 2011, the Company is subject to an income tax at an effective rate of 25%.

Dividend payments by the Company are limited by certain statutory regulations in the PRC. No dividends may be paid by the Company without first receiving prior approval from the Foreign Currency Exchange Management Bureau. However, no such restrictions exist with respect to loans and advances.

ASC 825 (formerly SFAS 107, “Disclosures about Fair Value of Financial Instruments”) defines financial instruments and requires disclosure of the fair value of those instruments. ASC 820 (formerly SFAS 157, “Fair Value Measurements”), adopted July 1, 2008, defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

~~Level 1: inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.~~

Level 2: inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

~~Level 3: inputs to the valuation methodology are unobservable and significant to the fair value.~~

~~The carrying~~computes basic earnings per share amounts reported in the balance sheets for current receivables and payables, including short-term loans, qualify as financial instruments and are a reasonable estimate of fair value because of the short period of time between the origination of such instruments, their expected realization and, if applicable, the stated rate of interest is equivalent to rates currently available.

The Company records stock-based compensation expense pursuant to ASC 718 (formerly SFAS 123R, “Share Based Payment.”) The Company uses the Black-Scholes option pricing model which requires the input of highly complex and subjective variables including the expected life of options granted and the Company’s expected stock price volatility over a period equal to or greater than the expected life of the options. Because changes in the subjective assumptions can materially affect the estimated value of the Company’s employee stock options, it is management’s opinion that the Black-Scholes option pricing model may not provide an accurate measure of the fair value of the Company’s employee stock options. Although the fair value of employee stock options is determined in accordance with ~~ASC 718 using an option pricing model, that value may not be indicative of the fair value observed in a willing buyer/willing seller market transaction.~~

Stock-based compensation expense is recognized based on awards expected to vest, and there were no estimated forfeitures as the Company has a short history of issuing options. ASC 718 (formerly SFAS 123R) requires forfeitures to be estimated at the time of grant and revised in subsequent periods, if necessary, if actual forfeitures differ from those estimates.

~~The Company reports earnings~~ per ~~share in accordance with the provisions of ASC 260 (formerly SFAS No. 128, "Earnings Per~~ Share.~~") ASC 260 requires presentation of basic and diluted earnings per share in conjunction with the disclosure of the methodology used in computing such earnings per share.~~ ” Basic earnings per share ~~excludes dilution and~~ is ~~computed~~calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period. Diluted ~~earnings~~loss per share ~~takes into account~~is computed by dividing net loss by the ~~potential dilution that could occur if securities or other contracts to issue~~weighted average number of shares of common stock, were exercised and converted into common stock. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock ~~at the average market price~~equivalents and potentially dilutive securities outstanding during the period. At November 30, 2023, and November 30, 2022, the Company had no dilutive securities.

In accordance with FASB ASC 230, cash flows from the Company's operations is calculated based upon the local currencies. As a result, amounts related to assets and liabilities reported on the statement of cash flows may not necessarily agree with changes in the corresponding balances on the balance sheet.

ASC 280 “Segment reporting” (formerly SFAS 131) requires use of the management approach model for segment reporting. The management approach model is based on the way a company's management organizes segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. Since management does not disaggregate Company data, the Company has determined that only one segment exists.

In January 2011, the FASB issued an Accounting Standard Update (“ASU”) No. 2011-01, “Receivables Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses, to be concurrent with the effective date of the guidance for determining what constitutes a troubled debt restructuring, as presented in proposed Accounting Standards Update, Receivables (Topic 310): Clarifications to Accounting for Troubled Debt Restructurings by Creditors. The amendments in this Update apply to all public-entity creditors that modify financing receivables within the scope of the disclosure requirements about troubled debt restructurings in Update 2010-20. Under the existing effective date in Update 2010-20, public-entity creditors would have provided disclosures about troubled debt restructurings for periods beginning on or after December 15, 2010. The amendments in this Update temporarily defer that effective date, enabling public-entity creditors to provide those disclosures after the Board clarifies the guidance for determining what constitutes a troubled debt restructuring. The deferral in this Update will result in more consistent disclosures about troubled debt restructurings. This amendment does not defer the effective date of the other disclosure requirements in Update 2010-20. In the proposed Update for determining what constitutes a troubled debt restructuring, the Board proposed that the clarifications would be effective for interim and annual periods ending after June 15, 2011. For the new disclosures about troubled debt restructurings in Update 2010-20, those clarifications would be applied retrospectively to the beginning of the fiscal year in which the proposal is adopted. The Company does not ~~expect the adoption of ASU 2011-01 to~~believe there are any other recently issued, but not yet effective, accounting standards that would have a significant impact on ~~its~~the Company’s financial position or results of operations.

The accompanying consolidated financial ~~statements.~~statements have been prepared in conformity with U.S. GAAP, which contemplate the Company’s continuation as a going concern in accordance with ASC 240-40-50. The Company’s history of recurring losses, negative working capital and negative cash flows from operating activities raises substantial doubt about its ability to continue as a going concern. The Company has not generated any profits since inception and its current cash balances will not meet its working capital needs. During the quarter ended November 30, 2023, the Company had a net loss from operations of $306,217, net cash used in operations of $295,867, a working capital deficit of $640,567 and an accumulated deficit of $4,988,956.

The ability of the Company to continue as a going concern depends on the successful execution of its operating plan, which includes expanding its operations and raising either debt or equity financing. There is no assurance that the Company will be able to expand its operations or obtain such financing on satisfactory terms or at all. If the Company is unsuccessful in these endeavors, it may be required to curtail or cease its operations.

The accompanying financial statements do not include any adjustments related to the recoverability or classification of asset carrying amounts or the amounts and classification of liabilities that may result should the Company be unable to continue as a going concern.

During the years ended May 31, 2021, and May 31, 2020, the Company received one loan of $31,750, two loans of $20,833 each and three loans of $5,000 each under the Payroll Protection Program (the “PPP”). The PPP was established in 2020 as part of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) to provide loans to qualifying businesses for amounts up to 2.5 times their average monthly payroll expenses. At May 31, 2022, the Company’s outstanding PPP loans of $41,666 were recorded as current liabilities; these loans were forgiven on June 21, 2022. On May 5, 2021, pursuant to the CARES Act, the Company received forgiveness of the loan of $31,750; it received forgiveness of a loan of $5,000; on March 16, 2021, it received forgiveness for a loan of $5,000; and on March 18, 2021, it received forgiveness for a loan of $5,000, Each such forgiveness was recorded as other income during the year in which it received official notice that it was forgiven.

In May 2020, the Company received $143,100 from the Small Business Administration as an Economic Injury Disaster Loan (“EIDL”) to help fund its operations during the COVID-19 pandemic. The loan bears interest at the rate of 3.75% per annum and is payable in monthly installments of $698 over a 30-year period, with deferral of payments for the first 12 months. An additional $10,000 borrowed under EIDL, which was provided for payroll, was forgiven and recorded as Other Income during 2022.

In June 2020, the Company received proceeds of $106,200 from the Small Business Administration through a second EIDL loan to help fund its operations during the COVID-19 pandemic. The loan bears interest at the rate of 3.75% per annum and is payable in monthly installments of $518 over a 30-year period. An additional $4,000 borrowed under EIDL, which was provided for payroll, was forgiven and recorded as Other Income during 2022.

The Company has ~~reviewed the Accounting Standards Updates up through No. 2011-12.~~

~~Certain prior period amounts have been reclassified~~entered into agreements under which it sold receivables to ~~conform to the current period presentation.~~

third parties. In accordance with ASC 470, these transactions are treated as loans encumbering the Escrow Agreement and the Subscription Agreement (note 15) signed by China Infrastructure Construction Corporation, Trillion Growth China General Partner and Anslow & Jaclin, LLP (the “Escrow Agent”) in October 2009, the Company was required to keep with the Escrow Agent $120,000 immediately on the Closing Date of the Subscription Agreement. This fund can only be disbursed when certain criteria are met. As of February 29, 2012 and May 31, 2011, the amount not disbursed was $301 and $10,868, respectively.

~~Other~~ receivables in current assets amounted to $1,139,046 and $983,199 as of February 29, 2012 and May 31, 2011, respectively. Other receivables in current assets consists of other receivables related to the sale of construction in progress in Tangshan.

~~Other receivables in long-term assets amounted to $2,341,569 and $2,197,961 as of February 29, 2012 and May 31, 2011, respectively.~~

As of February 29, 2012, other receivables includes $2.93 million related to a construction in progress disposal to an unrelated party. On February 28, 2010, we sold construction in progress in Tangshan to an unrelated third party at a price of approximately $3.8 million. The amount is due in 4 annual equal installments starting September 1, 2010. The receivable is unsecured, interest free, and with fixed repayment dates. It also includes insurance claims and deposits, that are from unrelated parties, interest free, unsecured, and with no fixed repayment date, and advances to employees for business purposes.

The allowances on the other accounts receivable are recorded when circumstances indicate collection is doubtful for particular accounts receivable. The Company provides for allowances on a specific account basis. Even though there is a default on payment, the Company expects payment in the next quarter; therefore, there is no provision for bad debt allowance made for the other receivables at February 29, 2012 and May 31, 2011.

Depreciation expense included in general and administrative expenses for the nine months ended February 29, 2012 and 2011 was $207,239 and $144,504, respectively. Depreciation expense included in cost of sales for the nine months ended February 29, 2012 and 2011 was $1,029,994 and $1,045,530, respectively.

Construction in progress represents direct costs of construction and design fees incurred for the Company’s new project in Tangshan. All construction costs associated with this project are accumulated and capitalized as construction in progress. The construction in progress is closed out to the appropriate asset classification when the project is substantially complete, occupied, or placed into service. No depreciation is provided until it is completed and ready for its intended use.

On February 28, 2010, we sold construction in progress in Tangshan to an unrelated third party at a price of approximately $3.8 million. The amount is due in 4 annual equal installments starting September 1, 2010. As of May 31, 2010, the book value of the construction in progress sold was approximately $3.3 million. A gain from property, plant and equipment disposal of $496,816 was recorded. Total other receivable for sales of Tangshan construction in progress was $2,169,070 and $2,874,586 as of February 29, 2012 and May 31, 2011, respectively.

After the Tangshan project was sold, construction in progress represents direct costs of construction and design fees incurred for the Company’s new location for the production facility in Beijing Daxing. Similar to the Tangshan project, all construction costs associated with this project are accumulated and capitalized as construction in progress. The construction in progress is closed out to the appropriate asset classification when the project is substantially complete, occupied, or placed into service. No depreciation is provided until it is completed and ready for its intended use.

~~Interest costs totaling $0 were capitalized into construction in progress for the nine months ended February 29, 2012 and 2011.~~

Prepayments consist of the long-term refundable performance bond, prepaid expenses, mainly prepaid rent expense, and the monies deposited with the suppliers for raw materials and capital lease lessor for lease payment. The total outstanding amount was $14,233,457 and $15,240,990 as of February 29, 2012 and May 31, 2011, respectively. There is no provision made for the prepayment at February 29, 2012 and May 31, 2011.

Parties, which can be a corporation or individual, are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject to common control or common significant influence.

Total outstanding amount of related party payable was $526,932 and $296,325 as of February 29, 2012 and May 31, 2011, respectively. These payables bear no interest and have no fixed payment terms. Currently, the related party payable consists of the following:

~~Total outstanding amount of related party receivables was $0 and $0 as of February 29, 2012 and May 31, 2011, respectively.~~

~~Other payables in current liabilities consist of the following as of February 29, 2012 and May 31, 2011:~~

Accrued expenses amounted to $792,242 and $980,075 as of February 29, 2012 and May 31, 2011. The accrued expenses mainly include accrued land lease expenses, accrued electricity and utility expenses, professional fees, and accrued interest.

Total interest expense and financial charges for the nine months ended February 29, 2012 and 2011 on all debt amounted to $23,691 and $154,895, respectively. Total interest income for the nine months ended February 29, 2012 and 2011 amounted to $511 and $10,213, respectively.

The Company has entered into operating lease agreements for six mixing buildings, twenty-nine mixing trucks, two automobiles, and equipments which are located at various production facilities. The leases were entered on or about May 2010 and will expire on various dates. Lease terms range from one year to three years, and annual interest rates range from 5.94% to 11.13%. The Company has been delinquent on some of the lease payments, which have yet to be resolved as of~~February 29, 2012. Delinquency in lease payments may result in termination of the contracts.~~

~~The minimum future lease payments for this property atFebruary 29, 2012are shown in the following table:~~

~~The outstanding lease commitment as ofFebruary 29, 2012was $3,583,657, which consists of principal of $3,366,663 and interest of $216,994. Delinquent lease payments as ofFebruary 29, 2012~~ ~~totaled $1,970,177.~~

~~Non-controlling interest consists of other stockholders’ ownership interest in majority-owned subsidiaries~~ of the Company which is about 5.48% of the total ownership of Beijing Concrete before the change of the non-controlling interest and 5.32% of the total ownership after the change of the non-controlling interest (Note 1). Non-controlling interest also consists of 49% of the total ownership of the newly formed subsidiary, Laoting County Kejian Concrete Co. Ltd, which is owned by two other individuals. As of February 29, 2012 and May 31, 2011, the balance of non-controlling interest was $4,263,425 and $2,904,590, respectively.

On June 1, 2010, the Company hired a consulting company. As compensation, the Company paid $45,000 and issued 115,000 shares of restricted common stock, and another 100,000 shares of restricted common stock will be issued upon certain terms. The shares are valued at market price of a total of $316,250 at $2.75 per share. The cash paid was first recorded as prepaid expenses. The shares issued are recorded as deferred consulting fee. Both the prepaid expenses and deferred consulting fee will amortize to expense over the agreement term of the six-month period. As of February 29, 2012, prepaid expenses for this service have a balance of $0 and deferred consulting fee has a balance of $0.

On November 18, 2010, the Company hired an investor relations company. As compensation, the Company agreed to issue 30,000 shares of restricted common stock. The shares are valued at a market price of $77,700 at $2.59 per share. As of February 29, 2012, the shares have not been issued and the payable is included in the ~~liabilities section~~event of ~~the balance sheet. On July 30, 2011, the Company issued~~default and are accounted for as a debt, such that payments are allocated to ~~its legal counsel~~principal and interest expense as ~~compensation 250,000 shares of common stock, which shares~~they are valued at $212,500. On October 19, 2011, the Company issued to various employees a total of 740,000 shares for employee reward, which shares are valued at $555,000 at $0.75 per share. On November 21, 2011, the Company issued to its consulting company as compensation 175,000 shares of common stock, which shares are valued at $70,000 at $0.40 per share.

On December 17, 2009, we granted to the previous CFO options to purchase 300,000 shares of common stock, with an exercise price of $3.90 per share, which was the closest stock issuance price of the date of grant. The options will vest over 2 years and expire 3 years after the vesting date or after a termination date whichever is earlier. All the options were forfeited immediately when the CFO resigned the position on October 25, 2010.

On February 12, 2010, we granted to our CEO options to purchase 400,000 shares of common stock, with an exercise price of $3.90 per share. The options will vest over 2 years and no option can be exercised after 5 years from the vesting date.

~~The assumptions used in calculating the fair value of the above options granted using the Black-Scholes option- pricing model~~made. These transactions are as follows:

On ~~February 12, 2010, we granted three independent directors each, options to purchase 10,000 shares~~June 29, 2022, the Company borrowed $12,500 from an unrelated party at an annual interest rate of ~~common stock,~~14%. This loan is payable at the weekly rate of $589 for 24 weeks. On October 13, 2022, an additional loan of $6,304 was obtained with ~~an exercise price~~a weekly payment of ~~$3.90 per share. The options will vest over 1 year and no option can be exercised after 3 years from~~$297 for 24 weeks. At November 30, 2023, the ~~grant date.~~outstanding balance of this loan, including interest, was $15,072.

On ~~March 22, 2010, we granted one independent director options to purchase 10,000 shares~~August 3, 2022, the Company borrowed $15,000 from an unrelated party at an annual interest rate of ~~common stock, with an exercise price~~42.5%, repayable at the rate of ~~$3.90~~$1,188 per ~~share. The options will vest over 1 year and no option can be exercised after 3 years from~~month for 18 months. At November 30, 2023, the ~~grant date.~~outstanding balance of this loan, including interest, was $15,727.

~~The assumptions used in calculating the fair value of options granted using the Black-Scholes option- pricing model are as follows:~~

~~On October 25, 2010, we granted to our newly appointed CFO options to purchase 150,000 shares of common stock, with an exercise price of $3.90 per share. The options will vest over 1 year~~Note 5 – Right-of-Use Assets and ~~expire 3 years after the vesting date or after a termination date whichever is earlier.~~Lease Liabilities

The ~~assumptions~~Company leases real property from unrelated parties under leases that are classified as operating leases. The right-of-use assets for operating leases are included in right-of-use assets on the balance sheets, with the corresponding lease liability in liabilities. Lease expense is recognized on a straight-line basis over the lease term. Renewals and terminations are included in the calculation of right-of-use assets and lease liabilities when they are considered reasonably certain to be exercised. When the implicit rate is unknown, the incremental borrowing rate, based on the commencement date, is used in ~~calculating~~determining the ~~fair~~present value of ~~the above option granted using the Black-Scholes option- pricing model are as follows:~~

~~Following is a summary of the status of options outstanding at February 29, 2012:~~

~~On October 16, 2009,~~The following amounts related to leases were recorded in ~~connection with~~ the ~~Share Purchase Agreement in October 2009,~~balance sheets:

The Company reimburses related parties for an office space operating lease under a month-to-month arrangement, payable at the ~~Company issued 153,846 warrants to Hunter Wise Financial Group, LLC, the Placement Agent. The warrants carry an exercise price~~discretion of ~~$3.90 and a 5-year term. The Warrants contain standard adjustment provisions upon stock dividend, stock split, stock combination, recapitalization, and a change of control transaction.~~management. See Note 10.

~~On March 22, 2010, in connection with~~The Company’s total operating lease expense was $31,210 and $17,902 during the ~~Share Purchase Agreement in March 2010, the Company issued 69,231 warrants to various parties as part of placement cost. The warrants carry an exercise price of $3.90~~quarters ended November 30, 2023, and ~~a 5-year term. The Warrants contain standard adjustment provisions upon stock dividend, stock split, stock combination, recapitalization, and a change of control transaction.~~

On March 22, 2010, in connection with the Share Purchase Agreement in March 2010, the Company issued 1,281,083 warrants to October 2010 investors. The warrants carry an exercise price of $6.00 and a 3-year term. The Warrants contain standard adjustment provisions upon stock dividend, stock split, stock combination, recapitalization, and a change of control transaction.Note 6 -- Revenue

~~Placement Agent Warrants meet~~Most of the ~~conditions for equity classification pursuant~~Company’s revenue is generated by the performance of services to ~~FASB ASC 815 “Derivatives~~customers and ~~Hedging”~~recognized at a point in time based on the evaluation of when the customer obtains control of the products. Revenue is recognized when all performance obligations under the terms of a contract are satisfied, net of certain taxes and ~~EITF 00-19, “Accounting for Derivative Financial Instruments Indexed~~gain/loss resulting from changes in foreign currency. Revenue is recorded when customer acceptance is received and all performance obligations have been satisfied. Sales of goods typically do not include multiple products and/or service elements.

Cost of revenue consists of third-party costs associated with patient stipends, sleep study fees and audio/video fees. At November 30, 2023, and November 30, 2022, cost of revenues totaled $23,912 and $53,324, respectively.

The Company is authorized to ~~and Potentially Settled in, a Company's Own Stock.” Therefore, these warrants were classified as equity and accounted for as~~issue 20,010,000,000 of capital stock, of which 20,000,000,000 shares are common stock, ~~issuance cost.~~without par value, and 10,000,000 are preferred stock, issuable in series.

The Company has ~~established~~designated 2,500,000 shares of preferred stock as Series A Convertible Preferred Stock (the “Series A Stock”). Until July 20, 2022, each share had a par value of $0.001; on that date, the Company amended its ~~own employee welfare plan~~articles of incorporation to provide that each such share has no par value. Under this amendment, (i) Series A Stock is entitled to receive dividends on the shares of Common Stock into which such shares are convertible, (ii) has the voting power of the number of shares of Common Stock into which such shares are convertible, (iii) is redeemable at the option of the Company for a redemption price equal to the number of shares of Common Stock into which the redeemed shares are convertible and (iv) are senior to the Common Stock and junior to the Series B Convertible Preferred Stock described below. At November 30, 2023, and May 31, 2023, there were 2,500,000 shares of Series A Stock issued and outstanding.

On July 20, 2022, the Company designated a series of preferred stock, named Series B Preferred Convertible Preferred Stock, comprising 1,000 shares (“Series B Preferred”). The shares of this series have no par value, are not entitled to dividends, have no liquidation rights, are not redeemable, are not convertible, have 60% of the Company’s voting power and rank senior to the Common Stock and Series A Convertible Preferred Stock. The 1,000 preferred shares were issued in ~~accordance with Chinese law and regulations.~~exchange for Common Stock to an existing common shareholder. The Company ~~makes contributions~~has deemed the value of the preferred and common shares to be the same, resulting in no change to additional paid capital.

During the six months ended November 30, 2023, the Company issued 272,071,428 shares of Common Stock for $56,000, net of a rescission of an ~~employee welfare plan. The total expense~~issuance of 19,000,000 shares of Common Stock for $19,000.

At November 30, 2023, and May 31, 2023, there were respectively 10,331,749,347 and 10,059,677,919 shares of Common Stock issued and outstanding.

On July 20, 2022, the Company adopted its 2022 Equity Incentive Plan, which provides for the ~~above~~grant of incentive and non-statutory stock options, stock appreciation rights, restricted stock, unrestricted stock, restricted stock units and performance awards to directors, officers, employees and consultants, as determined by the Board, as plan ~~was $66,938 and $78,572 for~~administrator. The Company will recognize as share-based compensation expense all share-based payments to employees over the ~~nine months ended February 29, 2012 and 2011, respectively.~~requisite service period (generally the vesting period) in its consolidated statements of operations based on the fair values of the awards that are issued.

~~The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the nine months ended February 29, 2012 and 2011:~~

The Company ~~and its subsidiaries are subject to~~provides for income taxes under ASC 740. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recorded based on ~~an entity~~the differences between the financial statement and tax basis ~~on income arising in, or derived from,~~of assets and liabilities and the tax ~~jurisdiction~~rates in ~~which they operate. As~~effect when these differences are expected to reverse. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the ~~Group has only net loss generated~~Company will not realize tax assets through future operations.

On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law, making significant changes to the Code. These changes included a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a territorial system and a one-time transition tax on the mandatory deemed repatriation of foreign earnings. The Company is required to recognize the effect of the tax law changes in the ~~United States, there was no~~period of enactment, such as re-measuring its U.S. deferred tax ~~expense or~~assets and liabilities as well as reassessing the net realizability of its deferred tax ~~liability~~assets and liabilities. The Tax Act did not give rise to any material impact on the balance sheets and statements of operations due to the ~~Internal Revenue Service~~Company’s historical worldwide loss position and the full valuation allowance on its net U.S. deferred tax assets.

Due to changes in ownership provisions of the income tax laws of the United States as of ~~February 29, 2012~~America, net operating loss carryforwards of approximately $4,891,136 and ~~May 31, 2011. The Group believes that the realization of the benefits arising from this loss appears to be uncertain due to its limited operating history~~$3,229,732 at November 30, 2023, and ~~continuing losses~~November 30, 2022, respectively, for ~~United States~~federal income tax ~~purposes. Accordingly,~~reporting purposes are subject to annual limitations. When a change in ownership occurs, the ~~Company has provided 100% valuation allowance at the period end for its United States operation.~~

use of net operating loss carryforwards may be limited in future years. They generally expire 20 years from when incurred.

~~As the Group has no income generated in Hong Kong, there was no tax expense or tax liability due to the tax rule of Hong Kong as of February 29, 2012~~Note 10 – Commitments and ~~May 31, 2011.~~Contingencies

Under the Income Tax Laws of the PRC, the Company’s subsidiaries are generally subject to an income tax at an effective rate of 25% on income reported in the statutory financial statements after appropriate tax adjustments. The exemption of income tax to the Company lasted until December 31, 2010, and from January 1, 2011, the Company is subject to an income tax at an effective rate of 25%. The Company over accrued income tax and therefore total provision for income tax is over 25%. The current income tax expense and deferred tax expense for the nine months ended February 29, 2012 and 2011 are as follows:

The Company ~~adopted accounting policies~~leases premises of approximately 4,500 square feet located at 6201 Bonhomme Road, Suites 460S and 466S, Houston, Texas. The lease provided for base rent of $3,382 per month, increasing to (i) $3,529 per month on July 1, 2020, (ii) $3,676.04 per month on July 1, 2021, and (iii) $3,823 per month on July 1, 2022, subject to CPI increase. On March 23, 2023, the Company amended the lease to extend its term to June 30, 2024, at a base rent of $4,779 per month. On September 5, 2023, the lease was amended to extend its term to June 30, 2025, at rentals of $0 per month for the two months ended November 30, 2023, $$4,779 per month for the 10 months ending June 30, 2024, and $4,926 per month for the 12 months ending June 30, 2025. For information regarding the recording of the right-of-use asset and the lease liability in ~~accordance with U.S. GAAP with regard to provisions, reserves, inventory valuation method, and depreciation that are consistent with requirements~~the balance sheets in respect of this lease, see Note 5.

Two of the Company’s officers leased 1,400 square feet in Houston, Texas (the “Officers’ Leased Property”), under ~~Chinese income tax laws. The Company had deferred tax assets~~a lease, the term of ~~$1,950,470 and $2,038,913 as of~~which commenced on February 29, ~~2012~~2020, and expired on March 14, 2022, at a rent of $3,449 per month. These officers made a portion of these premises available to the Company for office space on a month-to-month basis, for which the Company paid them $2,817 per month. On March 15, 2022, these officers entered into a new lease for the same premises, which expired on September 14, 2022, at a rent of $3,008 per month, and these officers continued to make a portion of these premises available to the Company for use as office space, for which the Company is paying them $2,817 per month on a month-to-month basis. On September 15, 2022, the officers that leased the Officers’ Leased Property entered into a new lease for these premises, which expired on March 14, 2023, at a rent of $3,038 per month, and these officers continued to make a portion of these premises available to the Company for use as office space, for which the Company paid them $2,817 per month. On March 2, 2023, these officers entered into a new lease for the same premises, which expires on September 14, 2023, at a rent of $3,168 per month; they are continuing to make a portion of these premises available to the Company for use as office space, for which the Company paid them $2,817 per month. On September 6, 2023, these officers entered into a new lease therefor, which commenced on September 15, 2023, and will expire on September 14, 2024, at a rent of $3,164 per month and they are making a portion of these premises available to the Company for use as office space, for which the Company is paying them $2,817 per month.

See Note 10 for information respecting the lease of real property to the Company by two of its officers.

The balance of related party liabilities owed to certain shareholders totaled $224,717 and $105,173 at November 30, 2023, and May 31, ~~2011, respectively, from its Chinese operations, mainly due to bad debt allowance.~~

The exemption of income tax to the Company lasted until December 31, 2010, and from January 1, 2011, the Company is subject to an income tax. As such, the estimated tax savings due to the tax exemption for the nine months ended February 29, 2012 and 2011 amounted to approximately $0 and $2,800,486, respectively. The net effect on earnings per share if the income tax had been applied would decrease the basic and diluted earnings per share for the nine months ended February 29, 2012 and 2011 by $0.00 and $0.34, respectively.

Other income was $112,225 for the nine months ended February 29, 2012. It consists of income from selling recycled paper, and vehicle accident compensation. Other expenses were $0 for the nine months ended February 29, 2012.

Other income was $156,326 for the nine months ended February 28, 2011. It mainly consists of gain on property, plant and equipment disposal. Other expenses were $8,935 for the nine months ended February 28, 2011.

~~The following is a reconciliation of the basic and diluted earnings per share for the nine months ended February 29, 2012 and 2011:~~

~~Weighted average stock prices for the nine months ended February 29, 2012 and 2011 are lower than warrants and option exercise prices (disclosed in note 15) so there is no diluted effect.~~

Concentration of credit risk exists when changes in economic, industry or geographic factors similarly affect groups of counter parties whose aggregate credit exposure is material in relation to the Company’s total credit exposure.

No customer accounted for more than 10% of the Company’s total sales for the nine months ended February 29, 2012. Two major customers, China Railway Construction Group and Jiangxi Jinggangshan Road and Bridge Construction Company accounted for 23% and 12% of the Company’s total sales for the nine months ended February 28, 2011,2023, respectively.

~~No customer accounted for more than 10% of~~During the ~~Company’s accounts receivable balance at February 29, 2012. One major customer, China Construction Group accounted for 18% of~~year ended May 31, 2023, the ~~Company’s accounts receivable balance at February 28, 2011.~~Company wrote off $12,000 owed by a former related party.

One major vendor, Hebei Province Linzhang Village Construction Engineering, Inc, accounted for 13% of the Company’s total inventory purchases for the nine months ended February 29, 2012. One major vendor, Hekai Stone and Sand Company accounted for 12% of the Company’s total inventory purchases for the nine months ended February 28, 2011.

No customer accounted for more than 10% of the Company’s accounts payable at February 29, 2012. One major vendor, Shuhong Liu accounted for 11% of the Company’s accounts payable at February 28, 2011.

The Company has not, historically, carried any property or casualty insurance. No amounts have been accrued for any liability that could arise from the lack of insurance. Management feels the chances of such an obligation arising are remote.no off-balance sheet arrangements.

~~Deposits in banks in the PRC are not insured by any government entity or agency, and are consequently exposed to risk~~Note 13 – Concentration of ~~loss. Management believes the probability of a bank failure, causing loss to the Company, is remote.~~Risk

~~As of February 29, 2012, the Company was committed to minimum rentals for the leased land under long-term non-cancellable operating leases as follows:~~

We currently have a ten-year lease with an annual payment of approximately $48,000, from March 1, 2008 to February 28, 2018, for our Beijing production base. We have built our offices and manufacturing facilities on this site. On April 30, 2011, this lease was ended due to demolition and we moved to a new location and entered into a new lease, which is from April 2011 to January 23, 2034 with a total payment of RMB 16,400,000. We also lease land for our Xi’an production facility. The annual payment is approximately $63,448. We also leased two offices in Beijing as our headquarter office. One office lease is from December 15, 2009 to December 14, 2011, with an annual payment of approximately $114,175. We decided to lease a new office instead of renewing this lease after it ended. The new lease is a one-year lease, starting on November 28, 2011, with annual payment of approximately $16,750. The other one is from July 11, 2010 to July 10, 2012, with an annual payment of approximately $48,000. However, this lease was ended on January 10, 2011 as we decided one office is enough.

~~Operating lease expenses amounted to $212,027 and $184,911 for the nine months ended February 29, 2012 and 2011, respectively.~~

On December 31, 2009, the Company reached a three year agreement with the Institute of Building Materials (“IBM”), a subsidiary of the China Academy of Building Research ("CABR"). Under the Agreement, CHNC will work exclusively with the Institute of Building Materials to obtain technical research, development and support. The Institute of Building Materials will also provide training courses to CHNC employees. CHNC will feature the Institute of Building Materials as CHNC’s technological partner in its corporate material. The Institute of Building Materials will use its relationships and brand influence in the construction industry to assist CHNC in business development. The Company agrees to pay IBM approximately $51,000 each year. As of February 29, 2012, the Company was committed to pay $34,068 for 2011 and $51,000 for calendar year 2012.

The Company had revenue, net of taxes and foreign currency gain/loss of $112,656 and $165,839 for the six months ended November 30, 2023, and November 30, 2022, respectively.

The Company had one customer that provided 70% of gross revenue for the six months ended November 30, 2023, and two customers that provided 82% of gross revenue for the quarter ended November 30, 2022.

During the six months ended November 30, 2023, the COVID-19 pandemic continued to have a material adverse effect on the Company’s educational business because governmental measures that we imposed to control it resulted in the closing of classrooms and other educational venues, and also hindered the Company’s franchising and consulting activities. As the pandemic has abated, many of these restrictions have been removed and the Company is beginning to resume normal operations. If the pandemic does not continue to abate, because of infections resulting from emerging virus variants or for other reasons, restrictions could be reimposed or increased. The ultimate impact of the pandemic will depend on future developments, which are highly uncertain and cannot be predicted.

On January 16, 2024, the Company issued 50,000,000 shares of Common Stock to an unrelated party as consideration under a consulting agreement.

Management has evaluated all other subsequent events ~~through the date~~when these consolidated financial statements were issued and has determined that none of ~~the filing.~~them requires disclosure herein.

~~ITEM~~Item 2. ~~MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~Management’s Discussion and Analysis of Financial Condition and Results of Operations.

CERTAIN STATEMENTS IN THIS REPORT, INCLUDING STATEMENTS IN THE FOLLOWING DISCUSSION, ARE WHAT ARE KNOWN AS "FORWARD-LOOKING STATEMENTS", WHICH ARE BASICALLY STATEMENTS ABOUT THE FUTURE. FOR THAT REASON, THESE STATEMENTS INVOLVE RISK AND UNCERTAINTY SINCE NO ONE CAN ACCURATELY PREDICT THE FUTURE. WORDS SUCH AS "PLANS", "INTENDS", "WILL", "HOPES", "SEEKS", "ANTICIPATES", "EXPECTS "AND THE LIKE OFTEN IDENTIFY SUCH FORWARD-LOOKING STATEMENTS, BUT ARE NOT THE ONLY INDICATION THAT A STATEMENT IS A FORWARD-LOOKING STATEMENT. SUCH FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING OUR PLANS AND OBJECTIVES WITH RESPECT TO THE PRESENT AND FUTURE OPERATIONS OF THE COMPANY, AND STATEMENTS WHICH EXPRESS OR IMPLY THAT SUCH PRESENT AND FUTURE OPERATIONS WILL OR MAY PRODUCE REVENUES, INCOME OR PROFITS. NUMEROUS FACTORS AND FUTURE EVENTS COULD CAUSE THE COMPANY TO CHANGE SUCH PLANS AND OBJECTIVES OR FAIL TO SUCCESSFULLY IMPLEMENT SUCH PLANS OR ACHIEVE SUCH OBJECTIVES, OR CAUSE SUCH PRESENT AND FUTURE OPERATIONS TO FAIL TO PRODUCE REVENUES, INCOME OR PROFITS. THEREFORE, THE READER IS ADVISED THAT THE FOLLOWING DISCUSSION SHOULD BE ~~CONSIDERED~~READ IN ~~LIGHT OF~~CONJUNCTION WITH THE ~~DISCUSSION OF RISKS~~COMPANY’S UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS, THE NOTES THERETO AND THE OTHER ~~FACTORS CONTAINED~~FINANCIAL INFORMATION APPEARING IN THIS REPORT ON FORM 10-Q AND IN THE COMPANY'S OTHER FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. NO STATEMENTS CONTAINED IN THE FOLLOWING DISCUSSION SHOULD BE CONSTRUED AS A GUARANTEE OR ASSURANCE OF FUTURE PERFORMANCE OR FUTURE RESULTS.REPORT.

The financial data discussed below are derived from the ~~context otherwise requires, The "Company"~~unaudited consolidated financial statements of the Company as of November 30, 2023, which were prepared and presented in accordance with United States generally accepted accounting principles for interim financial statements. These financial data are only a summary and should be read in conjunction with the unaudited financial statements and related notes contained herein, which more fully present the Company’s financial condition and operations as at that date, and with its audited financial statements and notes thereto contained in its Registration Statement on Form S-1 (File No. 333-267038), ~~"we," "us,"~~which was declared effective on December 5, 2023. Further, the Company urges caution regarding the forward-looking statements which are contained in this report because they involve risks, uncertainties and ~~"our," refer~~other factors affecting its operations, market growth, service, products and licenses that may cause the Company’s actual results and achievements, whether expressed or implied, to (i) China Infrastructure Construction Corporation; (ii) Beijing Chengzhi Qianmao Concrete Co., Ltd. (Beijing Concrete”), (iii) Beijing Fortune Capital Management, Ltd. (BFCM”), (iv) Shaanxi Hongruida Concrete Ltd. (Hongruida”), (v) Northern Construction Holdings, Ltd. (NCH”) and (vi) Laoting County Kejian Concrete Co. Ltd. (“Laoting”).differ materially from the expectations the Company describes in its forward-looking statements.

~~China Infrastructure Construction Corporation (the “Company,” “China Infrastructure,” “CHNC,” “we” or “our”) was organized in Colorado on February 28, 2003.~~

The Company, headquartered in Houston, Texas, conducts clinical trials for Sponsors and CROs and as a Sponsor through Alpha Research Institute and cannabis-related education in classrooms, seminars and online through Pharmacology University

As indicated in Note 3 of the notes to the audited consolidated financial statements for the year ended May 31, 2023, and the report thereon of the Company’s independent auditing firm, there is substantial doubt as to the ability of the Company to continue as a going concern. The Company has incurred recurring losses and recurring negative cash flow from operating activities and has an accumulated deficit, and its ~~subsidiaries~~ability to continue as a going concern depends on the successful execution of its operating plan, which includes the resumption of services that were interrupted by the COVID-19 pandemic, increasing sales of existing services and introducing new services, as well as raising either debt or equity financing.

The Company needs substantial additional capital to fund its business, including the completion of its business plan and repayment of its debts. No assurance can be given that any additional capital can be obtained or, if obtained, will be adequate to meet its needs, and the Company may need to take measures to remain a going concern. If adequate capital cannot be obtained on a timely basis and satisfactory terms, the Company’s operations could be materially negatively impacted, or it could be forced to terminate its operations.

The COVID-19 pandemic has adversely impacted the Company and its financial results in ~~Hong Kong~~different ways, depending on the particular business operation, as follows:

Pharmacology University Business. The Company encountered quarantines, restrictions on gatherings and other governmental regulations that precluded classroom education, as well as restrictions on travel that reduced consulting activities. The Company reduced the impact of the pandemic by developing online educational programs and transitioning its workforce to a remote working environment without reducing its workforce. Revenue from this operation was increased from $18,323 in the year ended May 31, 2019 (unaudited), to $44,799 and $38,440 in the years ended May 31, 2020, and May 31, 2021, respectively; revenue for the year ended May 31, 2022, was $18,341 and for May 31, 2023, was $42,655. Revenues of this business for the three months and six months ended November 30, 2023, were $1,925 and $1,925, respectively, compared with revenues for the three months and six months ended November 30, 2022, of $5,949 and $15,864, respectively.

Clinical Trials. Quarantines, restrictions on gatherings and other governmental regulations, amplified by potential patients’ fears of contracting COVID-19 at the Company’s clinics, negatively affected clinical trials. In addition, these clinics were subject to closure if cases of the virus were detected. Revenue from this operation changed from $165,666 in the year ended May 31, 2019 (unaudited), to $84,979 and $706,008 in the years ended May 31, 2020, and May 31, 2021, respectively; revenue for the year ended May 31, 2022, was $196,637; revenue for the year ended May 31, 2023, was $266,280. Revenues of this business for the three months and six months ended November 30, 2023, were $52,010 and $102,993, respectively, compared with revenues for the three months and six months ended November 30, 2022, of $70,750 and $188,496, respectively.

The Company believes that it may have been negatively impacted by the association of the pandemic with the People’s Republic of China ~~(“PRC”~~because “China” appeared in its former corporate name. Although the Company has no operations in or ~~“China”), engages in production~~any relationship with China, the Company believes that potential investors may have been deterred from considering the Company because of ~~ready-mixed concrete for developers~~concerns related to that country. For this reason, and because the ~~construction industry in the PRC. The Company primarily operates through~~Company’s corporate name does not reflect its ~~indirect majority-owned subsidiary, Beijing Chengzhi Qianmao Concrete Co., Ltd. (“Beijing Concrete”), a company organized under the laws of the PRC.~~activities, it changed its name to Cannabis Bioscience International Holdings, Inc. on December 6, 2022.

Beijing Concrete currently has four production facilities. One facility is located in Beijing’s Daxing District, one is in Shidu, a suburban area of Beijing, one is in Xi’an West New High-tech Zone, and another one is located at the Tangshan harbor, about two hundred kilometers from Beijing. The plant located in Xi’an was put into operation at the end of March 2010.

Our facilities generate revenues by selling concrete and providing manufacturing services. Since March 2010, our Caifeidian facility has been providing manufacturing services to our customers. In this business model, the customer provides to us raw materials to be used for production of concrete for the customer. Our customers, mostly large contractors working on big projects, have more bargaining power to negotiate lower prices for raw materials. The Company benefits from this as well because it does not need to advance cash to buy raw materials. Starting from 2011, the Caifeidian facility provides only manufacturing services to its customers. In October 2010, the Shidu facility also switched to providing only manufacturing services to its customers.

On June 27, 2011, the Company formed a new subsidiary, Laoting County Kejian Concrete Co. Ltd., in Tangshan, Hebei Province. The new subsidiary is a joint venture with 51% equity interest held by Beijing Concrete and 49% held by two other individuals. The total registered capital is 12 million RMB, or approximately USD $2.34 million.

Comparison of the Three ~~months ended February 29, 2012 Compared to Three months ended February 28, 2011~~Months Ended November 30, 2023, and November 30, 2022

~~Net Revenue~~The following table sets forth information from the statements of operations for the three months ended February 29, 2012 was $8,572,662 as compared to $20,783,682 for the same period last year, a decrease of $12,211,020, or approximately 58.75%. The decrease in net revenue is mainly caused by the slowdown of the real estateNovember 30, 2023, and infrastructure build out affected by the slowdown of the Chinese economy. Additionally, one major project for Tangshan Harbor Construction Engineering Co., Ltd in the Caifeidian facility was completed in June 2011; therefore, the sales volume of concrete products decreased. Manufacturing services also decreased due to the completion of this project.November 30, 2022.

~~Cost of goods sold~~Revenues were $63,748 and $82,581 for the three months ended ~~February 29, 2012 was $6,752,806 as compared to $12,260,147 for the same period last year, a decrease of $5,507,341, or approximately 44.92%.~~November 30, 2023, and November 30, 2022, respectively. The decrease ~~in cost of goods sold is~~was primarily due to reduced revenue caused by the slowdown of the Chinese economy and also by the relocation and the equipment replacement as well as the completion of the project for Tangshan Harbor Construction Engineering Co., Ltda $18,740 decrease in ~~the Caifeidian facility.~~revenues from clinical trials sales.

~~Gross profit~~Cost of revenues for the three months ended ~~February 29, 2012~~November 30, 2023, and November 30, 2022, were $15,092 and $7,090, respectively. The difference was ~~$1,819,856,~~primarily due to a ~~decrease~~$8,002 reduction in cost of ~~$6,703,679 or approximately 78.65%, as compared to $8,523,535 for the same period last year. The decrease~~revenues in ~~gross profit is attributable to the decreased revenue and the increase of price of raw material as well as less portion of manufacturing service in the revenue.~~clinical trials.

Gross profit margin for the three months ended February 29, 2012 was 21.23% compared to 41.01% for the same period last year. The decrease of the gross profit margin is mainly the result of higher raw material price and less manufacturing service proportion in the revenue mix.

~~General and administrative~~The following table sets forth total operating expenses for the three months ended ~~February 29, 2012 were $2,840,141, as compared to $10,083,492 for the same period last year, a decrease of $7,243,351, or approximately 71.83%. The decrease of the general~~November 30, 2023, and ~~administrative expenses was primarily due to decrease of bad debt expense.~~November 30, 2022:

~~Our~~Total operating ~~loss~~expenses were $143,168 and $259,099 for the three months ended ~~February 29, 2012~~November 30, 2023, and November 30, 2022, respectively. The decrease is attributable to a reduction of $142,832 in contract labor, offset by an increase of $29,006 in professional fees. A significant portion of professional fees was ~~$1,020,285,~~incurred in connection with the Company’s Registration Statement on Form S-1, which was declared effective on December 5, 2023.

Operating loss decreased from $183,608 for the three months ended November 30, 2022, to $94,512 for the three months ended November 30, 2023, primarily due to a decrease in contract labor of $539,672 or approximately 34.59% as compared to a loss of $1,559,957 for the same period last year. The decrease of operating loss was due to the decreased general and administrative expenses and offset by decreased net revenue.$142,832.

For the three months ended ~~February 29, 2012, our business operations were solely conducted by our subsidiaries incorporated in the PRC~~November 30, 2023, and we are governed by the PRC Enterprise Income Tax Laws. PRC enterprise income tax is calculated based on taxable income determined under PRC GAAP. In accordance with the Income Tax Laws, a PRC domestic company is subject to enterprise income tax at the rate of 25%.November 30, 2022, interest was $29,916 and $36,278, respectively.

~~Our income taxes during the three months ended February 29, 2012 were $272,056, a decrease of $1,373, or approximately 0.50%, compared to $273,429 for the same period last year.~~

Net ~~Income (loss) Attributable To China Infrastructure Construction Corporation~~Loss

Net loss ~~was $1,241,695~~ for the three months ended ~~February 29, 2012, a decrease of $426,984 or approximately 25.59%, as compared to net loss of $1,668,679~~November 30, 2023, was $124,428 versus $219,886 for the ~~same period last year. The decrease was primarily due to~~three months ended November 30, 2022, for the ~~decreased bad debt expenses offset by the decrease of revenue.~~reasons described above.

~~Nine months ended February 29, 2012 Compared to Nine months ended February 28, 2011~~

Net Revenue for the nine months ended February 29, 2012 was $41,384,196 as compared to $67,901,332 for the same period last year, a decrease of $26,517,136 or approximately 39.05%. The decrease in net revenue is mainly caused by the slowdownComparison of the ~~Chinese economy~~Six Months Ended November 30, 2023, and the relocation of Beijing Concrete starting from March 2011 till October 2011 resulting equipment replacement and reducing concrete production and sales. Additionally, one major project in the Caifeidian facility was completed in June 2011; therefore, the sales volume of concrete products decreased. Manufacturing services also decreased due to the completion of this project.

Cost of goods sold for the nine months ended February 29, 2012 was $28,378,657 as compared to $46,017,232 for the same period last year, a decrease of $17,638,575, or approximately 38.33%. The decrease in cost of goods sold is mainly due to the reduced production in Beijing Concrete caused by relocation and equipment replacement as well as the completion of the customer’s project in the Caifeidian facility.

Gross profit for the nine months ended February 29, 2012 was $13,005,539, a decrease of $8,878,561 or approximately 40.57%, as compared to $21,884,100 for the same period last year. The decrease in gross profit is attributable to the decreased revenue.

Gross profit margin for the nine months ended February 29, 2012 was 31.42% compared to 32.23%for the same period last year. The decrease of the gross profit margin is mainly the result of the decreased proportion of manufacturing service in the total revenue.

General and administrative expenses for the nine months ended February 29, 2012 were $6,528,955, as compared to $13,377,622 for the same period last year, a decrease of $6,848,667, or approximately 51.19%. The decrease of the general and administrative expenses was primarily due to the decrease of bad debt allowance offset by the decrease of revenue.

Our operating income for the nine months ended February 29, 2012 was $6,476,584, a decrease of $2,029,894, or approximately 23.86%, as compared to $8,506,478 for the same period last year. The decrease of operating income was due to the decreased net revenue offset by the decreased general and administrative expenses.

For the nine months ended February 29, 2012, our business operations were solely conducted by our subsidiaries incorporated in the PRC and we are governed by the PRC Enterprise Income Tax Laws. PRC enterprise income tax is calculated based on taxable income determined under PRC GAAP. In accordance with the Income Tax Laws, a PRC domestic company is subject to enterprise income tax at the rate of 25%.

Our income taxes during the nine months ended February 29, 2012 were $2,539,715, an increase of $1,685,356, or approximately 197.26%, compared to $854,359 for the same period last year. This is because Beijing Concrete, our PRC subsidiary, was considered by the respective tax authorities a resource multipurpose utilization enterprise, which qualified it for an exemption from income tax until December 31, 2010.

Net income was $3,665,025 for the nine months ended February 29, 2012, a decrease of $3,520,996 or approximately 49.00%, as compared to $7,186,021 for the same period last year. The decrease was primarily due to the decreased operating income and the increased income tax resulting from cancellation of tax exemption enjoyed by Beijing Concrete in 2010.

As of February 29, 2012, we had cash and cash equivalents of $73,498. We have historically funded our working capital needs from operations, advance payments from customers, bank borrowings, and capital from shareholders. Our working capital requirements are influenced by the level of our operations, the numerical and dollar volume of our project contracts, the progress of our contract execution, and the timing of accounts receivable collections.

The following table sets forth ~~a summary~~information from the statements of ~~our cash flows~~operations for the ~~periods indicated:~~six months ended November 30, 2023, and November 30, 2022.

Revenues were $136,569 and $219,162 for the ~~nine~~six months ended ~~February 29, 2012, an increase of $1,666,548, or 282.18%, as compared to $590,596 for the same period last year.~~November 30, 2023, and November 30, 2022, respectively. The ~~increase of net cash provided by operating activities was due to the~~ decrease of prepayments, increase in trade accounts payable and tax payable and by less amount of increase in accounts receivable. Regarding accounts receivable, we typically had long-term annual and multi-year contracts with our major customers. We entered into varying payment terms with our customers ranging from payment before delivery, payment on delivery or up to 1 year after the project completion. As of February 29, 2012, trade accounts receivable that are expected to be collected in more than one year amounted to $54,649,371, or 70.52% of total trade accounts receivable.

Net cash used in investing activities was $4,611,175 for the nine months ended February 29, 2012, an increase of $5,221,072 as compared to $609,897net cash provided by investing activities for the same period last year. The increase of net cash used by investing activities was primarily due to ~~the increased investments~~a $82,593 decrease in revenues from clinical trials sales and a decrease of ~~property, plant,~~$4,024 in revenues from cannabis-related educational classes and ~~equipment and fewer proceeds from related party receivable.~~seminars.

Cost of revenues for the six months ended November 30, 2023, and November 30, 2022, were $23,912 and $53,324, respectively. The difference was primarily due to a $29,412 reduction in cost of revenues for clinical trials.

The following table sets forth total operating expenses for the six months ended November 30, 2023, and November 30, 2022:

Total operating expenses were $380,839 and $589,443 for the six months ended November 30, 2023, and November 30, 2022, respectively. The decrease was primarily attributable to reductions of $221,027 and $722 in contract labor and professional fees, respectively.

Operating loss decreased from $423,605 for the six months ended November 30, 2022, to $268,182 for the six months ended November 30, 2023, primarily due to a decrease of $221,027 in contract labor. A significant portion of professional fees was incurred in connection with the Company’s Registration Statement on Form S-1, which was declared effective on December 5, 2023.

For the six months ended November 30, 2023, and November 30, 2023, interest was $38,036 and $49,978, respectively. During the six months ended November 30, 2023, the Company recorded income of $41,666 from forgiveness of a loan. As a result, other income (expense) for the six months ended November 30, 2023, and November 30, 2022, showed losses of $38,036 and $8,312, respectively.

The net loss for the six months ended November 30, 2023, was $306,217, versus $431,917 for the six months ended November 30, 2022, for the reasons described above.

At November 30, 2023, the Company had $337 in cash and cash equivalents and accounts receivable of $19,403, negative working capital of $640,567 and no commitments for capital expenditures. At May 31, 2023, the Company had $8,913 in cash and cash equivalents and accounts receivable of $10,549, negative working capital of $366,085 and no commitments for capital expenditures. The Company had cash and cash equivalents of $791 on the date of this Report.

During the six months ended November 30, 2023, and November 30, 2022, the Company had net cash used in operations of $295,867 and $509,337, respectively, and net cash provided by financing activities ~~was $2,287,644 for~~of $287,291 and $501,444, respectively. During the ~~nine months~~years ended ~~February 29, 2012, an increase of $4,263,185 compared to~~May 31, 2023, and May 31, 2022, the Company had net cash used in operations of $898,367 and $870,704, respectively, and net cash provided by financing activities of ~~$1,975,541 for the same period last year.~~$875,298 and $861,364, respectively. The ~~increase was primarily due to deceased payment to bank loan payable~~Company had accumulated deficits of $4,988,956 at November 30, 2023, and capital lease obligations combined with increased cash from Laoting’s non-controlling interest, which amounted to $908,599 offset by increase of payment to related party payable and due to increase of proceeds from bank loan payable and capital lease obligation.$4,682,736 at May 31, 2023.

~~Management's discussion~~As indicated elsewhere in this report, the Company was materially and ~~analysis~~adversely impacted by the COVID-19 pandemic. With the lifting of the restrictions imposed in response to the pandemic, the Company is resuming normal operations in its ~~financial condition~~Pharmacology University and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. Our financial statements reflect the selection and application of accounting policies which require management to make significant estimates and judgments. See note 3 to our consolidated financial statements, "Summary of Significant Accounting Policies." Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. We believe that the following reflect the more critical accounting policies that currently affect our financial condition and results of operations.Alpha Research Businesses.

Refer to ~~customers or services have been rendered when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations~~Note 2 of the Company exist and collectability is reasonably assured. Our sales are non-returnable. Therefore, we do not estimate deductions or allowance for sales returns. Sales are presented net of any discounts, reward, or incentive given to customers. Payments received before all of the relevant criteria for revenue recognition are satisfied are recorded as unearned revenue.accompanying financial statements.

~~Our products delivered to customers would be checked on site by customers~~Item 3. Quantitative and once the products are accepted by customers, they will sign the acceptance notice. There is no warranty issue after the delivery. Reward or incentive given to our customers is an adjustment of the selling prices of our products and therefore the consideration is characterized as a reduction of revenue when recognized in our income statement.Qualitative Disclosures About Market Risk.

The Company ~~recognizes its revenues net of value-added taxes (“VAT”). The Company enjoyed~~is a ~~free VAT policy according to the national policy, which encourages the development~~smaller reporting company as defined by Rule 12b-2 of the ~~cement industry if the manufacturer satisfies the environmental protection requirements. The Company has enjoyed the free VAT policy from January 1, 2006~~Securities Exchange Act of 1934 and accordingly is not required to ~~December 31, 2010. Starting from January 1, 2011, the Company is subject to VAT which is levied at the rate of 6% on the invoiced value of sales.~~provide information under this item.

~~The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates~~Item 4. Controls and assumptions that affect the amounts reported in the combined financial statements and accompanying notes. Management believes that the estimates utilized in preparing its financial statements are reasonable and prudent. Actual results could differ from these estimates.

The ~~Securities~~Company’s management has evaluated the effectiveness of the design and ~~Exchange Commission defines~~operation of the ~~term~~Company’s disclosure controls and ~~procedures” to mean~~procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of November 30, 2023. Based on this evaluation, the principal executive officer and the principal accounting officer concluded that these disclosure controls and ~~other~~ procedures were not effective as of ~~an issuer~~such date, at a reasonable level of assurance, in ensuring that ~~are designed to ensure that~~the information required to be disclosed by the Company in the reports that it files or submits under the ~~Securities~~ Exchange Act ~~of 1934 is~~is: (i) accumulated and communicated to management (including its principal executive officer and principal accounting officer) in a timely manner and (ii) recorded, processed, summarized and reported within the time periods specified in the ~~Securities and Exchange Commission’s~~SEC’s rules and forms. ~~Disclosure controls and procedures include, without limitation, controls and procedures designed~~

There were no changes in internal control over financial reporting during the three months ended November 30, 2023, that have materially affected, or are reasonably likely to ~~ensure that information required to be disclosed~~materially affect, the Company’s internal control over financial reporting.

The Company is a smaller reporting company as defined by ~~an issuer in the reports that it files or submits~~Rule 12b-2 promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”) and accordingly is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. The Company maintains such a system of controls and procedures in an effort to ensure that all information which it isnot required to ~~disclose in the reports it files~~provide information under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified under the SEC's rules and forms and that information required to be disclosed is accumulated and communicated to principal executive and principal financial officers to allow timely decisions regarding disclosure.

~~As of the end of the period covered by~~ this report, we carried out an evaluation, under the supervision and with the participation of our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this report.item.

Except for the above, there was no other change in the Company's internal control over financial reporting during the period ended February 29, 2012, that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

~~ITEM~~Item 2. ~~UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS~~Unregistered Sales of Equity Securities and Use of Proceeds.

During the six months ended November 30, 2023, the Company sold 272,071,428 shares of Common Stock to 10 unrelated persons for an aggregate purchase price of $70,000, without registration under the Securities Act. Another sale of 19,000,000 shares of Common Stock for $19,000 was rescinded. On January 16, 2024, the Company issued 50,000,000 shares of Common Stock to an unrelated party as consideration under a consulting agreement. All of these issuances were made in reliance upon the exemptions from registration afforded by Section 4(a)(2) thereof and Rule 506(b) or (c) promulgated thereunder.

On December 5, 2023, the Company’s Registration Statement on Form S-1 was declared effective. The Company registered 6,250,000,000 shares of Common Stock for sale for its account, in addition to 3,837,154,885 shares of Common Stock that may be sold by certain selling stockholders. As of the date of the date of this report, the Company has sold no shares and accordingly has received no proceeds of the offering.

On December 28, 2023, Henry Levinski, a member of the board of directors and vice president of the Company, passed away. Dante Picazo, the Company’s chief executive officer, is performing Mr. Levinski’s duties as an officer. The vacancy in the board of directors created by his death has not been filled.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

~~CHINA INFRASTRUCTURE CONSTRUCTION CORPORATION~~

~~By:~~	~~/s/ Rong Yang~~CANNABIS BIOSCIENCE INTERNATIONAL HOLDINGS, INC.

Date: January 24, 2024	~~Rong Yang~~By:	/s/ Dante Picazo
	~~Chief~~	Dante Picazo Principal Executive Officer ~~Director~~
	~~(principal executive officer)~~

~~By:~~	~~/s/ John Bai~~
	~~John Bai~~
	~~Chief Financial~~and Principal Accounting Officer
	~~(principal financial and accounting officer)~~

~~Date: April 20, 2012~~

Colorado		~~16-1718190~~84-4901299
(State or other jurisdiction of ~~incorporation)~~	incorporation or organization)	(IRS Employer Identification ~~Number)~~No.)

6201 Bonhomme Road, Suite 466S, Houston, TX	77036
(Address of Principal Executive Office)	(ZIP Code)

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
N/A	N/A	N/A

			Page
PART I - FINANCIAL INFORMATION

~~PART I~~ Item 1.	Financial ~~Information~~Statements		13

~~Item 1. Financial Statements.~~		1

~~Consolidated Balance Sheets as of February 29, 2012 (Unaudited) and May 31, 2011~~		1

~~Consolidated Statements of Operations And Comprehensive Income (Loss) for the three and nine months ended February 29, 2012 and February 28, 2011 (Unaudited)~~		2

~~Consolidated Statements of Cash Flows for the three and nine months ended February 29, 2012 and February 28, 2011 (Unaudited)~~		3

~~Notes to Consolidated Financial Statements (Unaudited)~~		4

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of ~~Operations.~~Operations		2317

Item ~~4T. Controls~~3.	Quantitative and ~~Procedures~~Qualitative Disclosures About Market Risk
		27
~~PART II Other Information~~		621

Item 4.	Controls and Procedures		21

PART II - OTHER INFORMATION

Item 1.	Legal Proceedings		22

Item 1A.	Risk Factors		22

Item 2.	Unregistered Sales of Equity Securities and Use of ~~Proceeds.~~Proceeds		2722

Item ~~6. Exhibits.~~3.	Defaults upon Senior Securities		2722

~~Signatures~~Item 4.	Mine Safety Disclosures		2822

~~Exhibits/Certifications~~Item 5.	Other Information		22

Item 6.	Exhibits		23

SIGNATURES			24

	February 29,		May 31,
	2012		2011
		(Unaudited)
ASSETS

Current assets
Cash and cash equivalents	$	73,498	$	136,702
Restricted cash		301		10,868
Trade accounts receivable,net		22,848,170		30,058,457
Other receivables		1,139,046		983,199
Inventories		469,614		348,102
Total current assets		24,530,629		31,537,328

Long-term assets
Property, plant and equipment,net		11,137,992		8,898,993
Prepayments		14,233,457		15,240,990
Accounts receivable, net – long-term		54,649,371		33,129,309
Deferred tax assets		1,950,470		2,038,913
Other receivables – long-term		2,341,569		2,197,961
Total long-term assets		84,312,859		61,506,166

TOTAL ASSETS	$	108,843,488	$	93,043,494

LIABILITIES AND EQUITY

Trade accounts payable	$	14,981,264	$	13,114,202
Related party payable		526,932		296,325
Other payables		4,279,916		3,494,914
Current portion of capital lease obligations		3,212,818		3,171,246
Accrued expenses		792,242		980,075
Tax payable		9,714,852		6,401,831
Bank loan payable		1,586,200		-
Total current liabilities		35,094,224		27,458,593

Long-term liabilities
Long-term portion of capital lease obligations		153,845		515,662
Total long-term liabilities		153,845		515,662

TOTAL LIABILITIES	$	35,248,069	$	27,974,255

EQUITY
Preferred stock, no par value, 10,000,000 shares authorized; no shares issued or outstanding	$	-	$	-
Common stock, no par value, 100,000,000 shares authorized; 14,095,620 and 12,930,620 shares issued and outstanding as of February 29, 2012 and May 31, 2011, respectively		44,734,563		43,279,066
Retained earnings		18,443,131		14,778,106
Accumulated other comprehensive income		6,154,300		4,107,477
Total China Infrastructure Construction Corporation Stockholder’s Equity		69,331,994		62,164,649
Non-controlling interests		4,263,425		2,904,590

TOTAL EQUITY		73,595,419		65,069,239

TOTAL LIABILITIES AND EQUITY	$	108,843,488	$	93,043,494


	November 30, 2023			May 31, 2023
	(Unaudited)			(Audited)

ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	337		$	8,913
Accounts receivable		19,403			10,549
TOTAL CURRENT ASSETS		19,739			19,462
Right-of-use asset		82,102			23,920
TOTAL ASSETS	$	101,842		$	43,382

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses	$	213,521		$	111,299
Bank overdraft		3,808			–
Deferred revenue		–			28,641
Related party payables		224,717			105,173
Short-term loans (Net of amortization of loan fees)		151,267			121,407
SBA loan - current		12,079			14,592
Lease liabilities - current		54,915			4,435
TOTAL CURRENT LIABILITIES		660,307			385,547

LONG-TERM LIABILITIES
SBA loan		249,500			249,500
Lease liabilities		33,920			–
TOTAL LONG-TERM LIABILITIES		283,420			249,500
TOTAL LIABILITIES		943,726			635,047

STOCKHOLDERS’ DEFICIENCY
Authorized 10,000,000 shares of preferred stock, of which 2,500,000 shares have been designated Series A Convertible Preferred Stock and 1,000 shares have been designated Series B Preferred Stock		–			–
Common Stock, without par value: 20,000,000,000 shares authorized; 10,331,749,347 and 10,059,677,919 shares issued and outstanding at November 30, 2023, and May 31, 2023, respectively.		–			–
Additional paid-in capital		4,147,071			4,091,071
Accumulated deficit		(4,988,956	)		(4,682,736	)
TOTAL STOCKHOLDERS’ DEFICIENCY		(841,885	)		(591,665	)

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY	$	101,842		$	43,382

	Three Months Ended February 29,						Nine Months Ended February 29,
	2012			2011			2012			2011

Sales revenue, net
Concrete Sales	$	8,459,624		$	18,211,981		$	39,321,243		$	65,329,631
Manufacturing Service		113,038			2,571,701			2,062,953			2,571,701
Total revenue		8,572,662			20,783,682			41,384,196			67,901,332

Cost of revenues
Concrete Sales		6,657,232			11,549,212			27,699,805			45,306,297
Manufacturing Service		95,574			710,935			678,852			710,935
Total cost of revenues		6,752,806			12,260,147			28,378,657			46,017,232

Gross profit		1,819,856			8,523,535			13,005,539			21,884,100

Operating expenses:
General and administrative expenses		2,840,141			10,083,492			6,528,955			13,377,622

Operating income (loss)		(1,020,285	)		(1,559,957	)		6,476,584			8,506,478

Other income (expense):
Interest income		-			9,219			511			10,213
Interest expense		(12,314	)		(51,688	)		(23,691	)		(154,895	)
Other income		8,333			137,660			112,225			156,326
Other expense		-			-			-			(8,935	)
Total other income (expense)		(3,981	)		95,191			89,045			2,709

Earnings (loss) before tax		(1,024,266	)		(1,464,766	)		6,565,629			8,509,187

Income tax		272,056			273,429			2,539,715			854,359

Net income (loss)	$	(1,296,322	)	$	(1,738,195	)	$	4,025,914		$	7,654,828

Net income (loss) attributable to:
-Common stockholders		(1,241,695	)		(1,668,679	)		3,665,025			7,186,021
-Non-controlling interest		(54,627	)		(69,516	)		360,889			468,807
	$	(1,296,322	)	$	(1,738,195	)	$	4,025,914		$	7,654,828
Earnings (loss) per share
- Basic and Dilutive	$	(0.09	)	$	(0.13	)	$	0.27		$	0.56
Weighted average shares outstanding
- Basic and Dilutive		13,549,503			12,930,620			13,553,234			12,930,199

Comprehensive Income
Net Income (loss)	$	(1,296,322	)	$	(1,738,195	)	$	4,025,914		$	7,654,828

Foreign currency translation adjustment		821,121			887,918			2,136,170			2,109,425
Comprehensive Income (loss)		(475,201	)		(850,277	)		6,162,084			9,764,253
Comprehensive income attributable to non-controlling interests		(20,014	)		(15,937	)		450,236			581,931
Comprehensive income (loss) attributable to China Infrastructure Construction Corporation	$	(455,187	)	$	(834,340	)	$	5,711,848		$	9,182,322


	Three Months Ended November 30						Six Months Ended November 30
	2023			2022			2023			2022

Revenues	$	63,748		$	82,581		$	136,569		$	219,162
Cost of revenues		15,092			7,090			23,912			53,324
Gross profit		48,656			75,491			112,656			165,838

Cost and expenses
General and administrative		8,407			20,969			53,376			53,505
Contract labor		46,326			189,158			141,980			363,007
Professional fees		45,028			16,022			107,422			108,144
Officer compensation		12,000			13,500			24,000			25,500
Rent and lease		31,210			17,902			52,163			36,148
Travel		197			1,548			1,898			3,139
Total operating expenses		143,168			259,099			380,839			589,443

Operating loss		(94,512	)		(183,608	)		(268,182	)		(423,605	)

Other income (expense)
Forgiveness of debt		–			–			–			41,666
Interest		(29,916	)		(36,278	)		(38,035	)		(49,978	)
Total other income		(29,916	)		(36,278	)		(38,035	)		(8,312	)

Net loss	$	(124,428	)	$	(219,886	)	$	(306,217	)	$	(431,917	)

Average common stock outstanding		10,331,749,347			8,090,501,599			10,331,749,347			8,784,573,124

Average earnings (loss) per share	$	(0.00002	)	$	(0.00004	)	$	(0.00003	)	$	(0.00005	)

~~Office trailers~~		~~10 years~~
~~Machinery and equipment~~		~~3-8 years~~
~~Furniture and office equipment~~		~~5-8 years~~
~~Motor vehicles~~		~~3-5 years~~

Schedule of EIDL loans
	November 30, 2023 (Unaudited)		May 31, 2023 (Audited)
SBA (EIDL) current portion	$	12,079	$	14,592
SBA (EIDL) noncurrent portion		249,500		249,500
Total EIDL Loans	$	261,579	$	264,092

	February 29, 2012			May 31, 2011
Trade Accounts Receivable	$	26,194,811		$	32,787,147
Less: Allowance for Bad Debt		(3,346,641	)		(2,728,690	)
	$	22,848,170		$	30,058,457

	February 29, 2012			May 31, 2011
Long Term Accounts Receivable	$	61,817,345		$	38,973,730
Less: Allowance for Bad Debt		(7,167,974	)		(5,844,421	)
	$	54,649,371		$	33,129,309

	February 29, 2012		May 31, 2011
Raw materials	$	469,614	$	348,102
	$	469,614	$	348,102

	February 29, 2012			May 31, 2011
Office trailers	$	911,941		$	798,993
Machinery and equipment		5,476,127			2,840,269
Machinery and equipment, capital lease		6,315,838			6,348,228
Motor vehicles		679,838			499,808
Motor vehicles, capital lease		288,380			279,854
Furniture and office equipment		637,353			601,619
Construction in progress		1,730,432			1,906,796
Total property, plant and equipment		16,039,909			13,275,567
Accumulated depreciation		(2,668,288	)		(2,685,392	)
Accumulated depreciation, capital lease		(2,233,629	)		(1,691,182	)
Net property, plant and equipment	$	11,137,992		$	8,898,993

	February 29, 2012		May 31, 2011
Advance to suppliers	$	2,153,551	$	8,561,700
Prepaid expenses		8,844,058		2,769,473
Performance bond		3,235,848		3,909,817
	$	14,233,457	$	15,240,990

	February 29, 2012		May 31, 2011
Yang Rong (CEO)	$	526,932	$	151,711
Xiuqiong Long		-		144,614
Total	$	526,932	$	296,325

	February 29, 2012		May 31, 2011
Commission payable	$	1,654,812	$	814,224
Payable to CRCG (note 1)		563,111		311,035
Beijng Xin Hai Wang Yue Commercial Ltd.		454,020		1,250,191
Staff and other companies deposit		1,607,973		1,119,464
Total other payables	$	4,279,916	$	3,494,914

			Lease Commitments
From	To		Buildings		Trucks		Automobiles		Equipment		Total
2/29/2012		5/31/2012	$	1,132,865	$	1,233,316	$	67,048	$	138,698	$	2,571,927
6/1/2012		5/31/2013		566,311		59,150		39,589		46,979		712,029
6/1/2013		5/31/2014		299,701		-		-		-		299,701
			$	1,998,877	$	1,292,466	$	106,637	$	185,677	$	3,583,657

~~Risk-free~~	·	In May 2022, the Company entered into a financing agreement with an unrelated party for a loan of $50,000 at an annual interest rate	~~0.86%~~ of 20.9%, to be repaid at the rate of $1,218 per week for one year. At November 30, 2023, the outstanding balance, including interest, was $54,028.
~~Expected life of the options~~	~~2- 3 years~~
~~Expected volatility~~	~~45%~~·	On August 8, 2022, the Company entered into a financing agreement with an unrelated party for a loan of $45,000 at an annual interest rate of 26.4%, to be repaid at the rate of $3,057 per week for 20 weeks. On October 17, 2022, this loan was refinanced to include an additional $10,000, such that it bears interest at an annual interest rate of 26.4% and was to be repaid at the rate of $3,057 per week for four weeks.
~~Expected dividend yield~~	0
	·	On December 20, 2022, the Company increased the loan to $76,000 and modified the financing agreement such that the loan bears interest at an annual interest rate of 26.4% and is to be repaid at the rate of $6,114 per week for 17 weeks. The outstanding balance at November 30, 2023, including interest, was $30,673.

~~Risk-free interest rate~~	~~0.35%~~
~~Expected life of the options~~	~~1-2 years~~
~~Expected volatility~~	~~45%~~
~~Expected dividend yield~~	0

~~Risk-free interest rate~~	~~0.22%~~
~~Expected life of the options~~	~~3 years~~
~~Expected volatility~~	~~81%~~
~~Expected dividend yield~~	0

	Options outstanding		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding, May 31, 2011		590,000	$	3.90	$	0.00
Granted		-		-		-
Forfeited		-		-		-
Exercised		-		-		-
Outstanding February 29, 2012		590,000	$	3.90	$	0.00

Schedule of leases
	November 30, 2023 (Unaudited)		May 31, 2023 (Audited)
Right-of-use asset	$	82,102	$	155,387
Less: Accumulated amortization		–		(131,467	)
Right-of-use asset, net	$	82,102	$	23,920

Lease liabilities – current	$	54,915	$	4,435
Lease liabilities – noncurrent		33,920		–
Operating lease liability	$	88,835	$	4,435

Schedule of disaggregated revenue
	Three Months Ended November 30,				Six Months Ended November 30,
	2023		2022		2023		2022
Clinical trials	$	52,010	$	70,750	$	114,968	$	188,496
Consulting fees		8,334		–		16,667		–
Seminar fees		1,975		3,511		1,925		15,864
Royalties		–		42		–		42
Merchandise		1,429		8,278		3,009		14,760
Total revenue	$	63,748	$	82,581	$	136,569	$	219,162

	Warrants Outstanding		Warrants Exercisable		Weighted Average Exercise Price		Average Remaining Contractual Life in Years
Outstanding, May 31, 2011		1,504,160		1,504,160	$	5.69		2.05
Granted		-		-		-		-
Forfeited		-		-		-		-
Exercised		-		-		-		-
Outstanding, February 29, 2012		1,504,160		1,504,160	$	5.69		1.30

	2012			2011
U.S. Statutory rates		34.0	%		34.0	%
Foreign income not taxable in USA		(34.0	)%		(34.0	)%
China income taxes		25.0	%		25.0	%
China income tax exemption		-			(15.0	)%
Accruals in foreign jurisdictions		6.7	%		-
Total provision for income taxes		31.7	%		10.0	%

	February 29, 2012			February 28, 2011
Current income tax	$	2,688,262		$	854,359
Deferred tax expense		(148,547	)		-
Income tax	$	2,539,715		$	854,359

	2012		2011
Deferred tax assets, China subsidiary	$	1,950,470	$	2,038,913
Bad debt allowance		-		-
Valuation allowance		-		-
Total	$	1,950,470	$	2,038,913

	2012		2011
Net income (loss) for earnings per share	$	3,665,025	$	7,186,021
Weighted average shares used in basic computation		13,553,234		12,930,199
Diluted effect of warrants and options		-		-
Weighted average shares used in diluted computation		13,553,234		12,930,199
Earnings (loss) per share, basic	$	0.27	$	0.56
Earnings (loss) per share, diluted	$	0.27	$	0.56

Twelve Months Ended February 29,
2013	$	189,939
2014		177,376
2015		178,434
2016		177,376
2017		180,549
Thereafter		2,463,093
Total:	$	3,366,767

	Nine Months Ended
	February 29, 2012			February 28, 2011
	Unaudited			Unaudited
Net cash provided by (used in) operating activities	$	2,257,144		$	590,596
Net cash provided by (used in) investing activities		(4,611,175	)		609,897
Net cash provided by (used in) financing activities		2,287,644			(1,975,541	)
Effect of exchange rate change on cash and cash equivalents		3,183			23,185
Increase (Decrease) in cash and cash equivalents		(63,204	)		(751,863	)
Cash and cash equivalents, beginning balance		136,702			1,102,879
Cash and cash equivalents, ending balance		73,498			351,016

~~31.1~~ Exhibit Number	Certifications by the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

~~31.2~~	Certifications by the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) under the Securities Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

~~32.1~~	~~Certifications by the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.~~

~~101.INS~~	~~XBRL Instance Document.~~	Title

~~101.SCH~~31	Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer and Principal Accounting Officer
32	Section 1350 Certification of Principal Executive Officer and Principal Accounting Officer
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