UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,WASHINGTON, D.C. 20549
FORM 10-Q
[X]
☒QUARTERLY REPORT PURSUANT TOUNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarter ended: ended November 30, 2017February 28, 2023
OR
[ ] ☐TRANSITION REPORT PURSUANT TOUNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Periodtransition period from ___________ to____________
Commission File Number: 333-213009
GEANT CORP.
(Exact name of registrant as specified in its charter)_________ to ________
Commission file number: 333-213009
CANNABIS SUISSE CORP. | |||
(Exact name of registrant as specified in its charter) |
Nevada | 2600 | 38-3993849 | ||
(State or incorporation or |
| (Primary Standard Industrial Classification Code Number) |
| (I.R.S. Employer Identification |
Kiranthidiya road 114, Beruwala, Sri Lanka, 12070
10 North Newnan Street, Suite A
Jacksonville, FL 32202
Phone: +17027510467(904) 595 5820
E-mail: office@geantcorp.com
(Address,(Address, including zip code, and telephone number,
Includingincluding area code, of registrant’s principal executive offices)
Indicate by check markcheckmark whether the registrant (1) has filed all reports required to be filed by sectionSection 13 or 15(d) of the Securities Exchange Act of 1934 during the pastpreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 was required to submit such files). Yes [X]☒ No [ ]☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,”filer”, “accelerated filer”, “non-accelerated filer”, “emerging growth company” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:Act. (Check one).
Large accelerated filer |
| Accelerated filer |
| ||
Non-accelerated filer |
| Smaller reporting company |
| ||
|
|
|
| Emerging growth company | ☐ |
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 is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes [ ]☐ No [X]☒
As of December 28, 2017April 19, 2023, there were 2,855,00044,254,938 shares outstanding of the registrant’s common stock.
i
TABLE OF CONTENTS
| |||
| 1 | ||
|
|
| |
|
| ||
|
| ||
|
| ||
|
| ||
Management’s Discussion and Analysis of Financial Condition and Results of |
| ||
Quantitative and Qualitative Disclosures |
| ||
|
|
| |
|
| ||
|
| 16 | |
| 16 | ||
18 | |||
18 | |||
18 | |||
Item 2. Unregistered Sales of Equity Securities and Use of |
| ||
|
|
| |
|
|
| |
|
|
| |
|
|
| |
| 18 | ||
18 | |||
18 | |||
18 | |||
18 | |||
19 |
ii
PART I –- FINANCIAL INFORMATION
Item 1. Financial statementsstatements.
The accompanying condensed interim condensed financial statements of Geant Corp. (the “Company”), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations.
The accompanying interim condensed financial statements of GeantCannabis Suisse Corp. (the “Company”) should be read in conjunction with the 10-K that was filed with the United States Securities and Exchange Commission (the “SEC”) on August 18, 2017.. The accompanying Condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 108 of Regulation S-X. Accordingly, since they are interim statements, the accompanying condensed financial statements do not include all the information and notes required by GAAP for complete financial statement presentation. In the opinion of management, the condensed interim financial statements reflect all adjustments (consisting of normal, recurring adjustments) that are necessary for a fair presentation of the financial position, results of operations, and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year.
In the opinion of management, the condensed financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.
3
GEANT CORP.
BALANCE SHEETS
ASSETS |
| November 30, 2017 (Unaudited) | May 31, 2017 (Audited) | ||||
Current Assets |
|
|
| ||||
Cash and cash equivalents Inventory | $ | 6,339 6,693 | 6,187 8,996 | ||||
Prepaid expenses |
| 103 | 823 | ||||
Total Current Assets | $ | 13,135 | 16,006 | ||||
|
|
|
| ||||
Fixed Assets |
|
|
| ||||
Equipment, net |
| 18,737 | 22,184 | ||||
Total Fixed Assets | $ | 18,737 | 22,184 | ||||
|
|
|
| ||||
Total Assets | $ | 31,872 | 38,190 | ||||
|
|
|
| ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
| ||||
Liabilities |
|
|
| ||||
Current Liabilities |
|
|
| ||||
Related-party loan |
| 29,100 | 29,100 | ||||
Total Current Liabilities | $ | 29,100 | 29,100 | ||||
|
|
|
| ||||
Total Liabilities | $ | 29,100 | 29,100 | ||||
|
|
|
| ||||
Commitments & Contingencies |
| - | - | ||||
|
|
|
| ||||
Stockholder’s Equity |
|
|
| ||||
Common stock, par value $0.001; 75,000,000 shares authorized, 2,855,000 and 2,855,000 shares issued and outstanding as of November 30, 2017 and May 31, 2017 respectively |
| 2,855 | 2,855 | ||||
Additional paid in capital |
| 33,340 | 33,340 | ||||
Accumulated deficit |
| (33,423 | ) | (27,105 | ) | ||
Total Stockholder’s Equity | $ | 2,772 | 9,090 | ||||
|
|
|
| ||||
Total Liabilities and Stockholder’s Equity | $ | 31,872 | 38,190 |
CANNABIS SUISSE CORP.
CONDENSED BALANCE SHEETS
February 28, 2023 |
| May 31, 2022 | |||
|
| (unaudited) |
|
|
|
ASSETS |
|
|
|
|
|
Current Assets |
|
|
|
|
|
Cash in Escrow Account | $ | 5,083 |
| $ | - |
Total Current Assets |
| 5,083 |
|
| - |
|
|
|
|
|
|
Property and Equipment, net |
| 29,917 |
|
| - |
Operating Leases Right of Use Assets |
| 327,428 |
|
| - |
|
|
|
|
|
|
TOTAL ASSETS | $ | 362,428 |
| $ | - |
|
|
|
|
|
|
LIABILITIES & STOCKHOLDERS’ DEFICIT |
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
Accounts Payable | $ | 4,795 |
| $ | 883 |
Accrued Expenses |
| 4,725 |
|
| 136,620 |
Advances From Related Parties |
| 16,659 |
|
| 1,589 |
Convertible Notes Payable |
| 135,000 |
|
| 135,000 |
Operating Lease Liabilities - Short-term |
| 103,877 |
|
| - |
Total Current Liabilities |
| 265,056 |
|
| 274,092 |
|
|
|
|
|
|
Convertible Notes Payable - Related party |
| 135,000 |
|
| - |
Operating Lease Liabilities - Long-term |
| 234,603 |
|
| - |
Total Liabilities |
| 634,659 |
|
| 274,092 |
|
|
|
|
|
|
Commitments and Contingencies (Note 5) |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ Deficit |
|
|
|
|
|
Preferred stock, par value $0.001; 20,000,000 shares authorized, 5,000,000 and 0 shares issued and outstanding |
| 5,000 |
|
| 5,000 |
Common stock, par value $0.001; 250,000,000 shares authorized, 44,254,938 and 40,654,938 shares issued and outstanding as of February 28, 2023, and May 31, 2022, respectively |
| 44,255 |
|
| 40,655 |
Additional Paid-In-Capital |
| 1,055,589 |
|
| 742,997 |
Unearned Compensation |
| (30,000) |
|
| - |
Accumulated Deficit |
| (1,347,075) |
|
| (1,062,744) |
Total Stockholders’ Deficit |
| (272,231) |
|
| (274,092) |
|
|
|
|
|
|
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT | $ | 362,428 |
| $ | - |
The accompanying notes are an integral part of these unaudited condensed financial statements.
4
GEANTCANNABIS SUISSE CORP.
CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)(unaudited)
|
| For the three months ended November 30, 2017 | For the three months ended November 30, 2016 | For the six months ended November 30, 2017 | For the six months ended November 30, 2016 | ||||||||||
|
|
|
|
|
| ||||||||||
REVENUES | $ | 6,500 | 3,800 | 6,500 | 5,100 | ||||||||||
Cost of Goods Sold |
| 2,303 | 1,011 | 2,303 | 1,485 | ||||||||||
Gross Profit |
| 4,197 | 2,789 | 4,197 | 3,615 | ||||||||||
|
|
|
|
|
| ||||||||||
OPERATING EXPENSES |
|
|
|
|
| ||||||||||
General and Administrative Expenses |
| 407 | 221 | 767 | 7,661 | ||||||||||
Professional fees |
| 2,300 | - | 6,300 | - | ||||||||||
Depreciation |
| 1,724 | - | 3,448 | - | ||||||||||
TOTAL OPERATING EXPENSES |
| (4,431 | ) | (221 | ) | (10,515 | ) | (7,661 | ) | ||||||
|
|
|
|
|
| ||||||||||
NET INCOME (LOSS) FROM OPERATIONS |
| (234 | ) | 2,568 | (6,318 | ) | (4,046 | ) | |||||||
|
|
|
|
|
| ||||||||||
PROVISION FOR INCOME TAXES |
| - | - | - | - | ||||||||||
|
|
|
|
|
| ||||||||||
NET INCOME (LOSS) | $ | (234 | ) | 2,568 | (6,318 | ) | (4,046 | ) | |||||||
|
|
|
|
|
| ||||||||||
NET LOSS PER SHARE: BASIC AND DILUTED | $ | (0.00 | ) | 0.00 | (0.00 | ) | (0.00 | ) | |||||||
|
|
|
|
|
| ||||||||||
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED |
| 2,855,000 | 2,008,543 | 2,855,000 | 2,004,255 | ||||||||||
|
|
|
|
|
|
| For the three months ended February 28, |
| For the nine months ended February 28, | ||||||||
2023 |
| 2022 |
| 2023 |
| 2022 | |||||
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES |
|
|
|
|
|
|
|
|
|
|
|
Sales of goods | $ | - |
| $ | - |
| $ | - |
| $ | 7,770 |
Rental income |
| 2,500 |
|
| - |
|
| 2,500 |
|
| - |
Total Revenues |
| 2,500 |
|
| - |
|
| 2,500 |
|
| 7,770 |
Cost of goods sold |
| - |
|
| - |
|
| - |
|
| 1,734 |
Cost of renting |
| 2,292 |
|
| - |
|
| 2,292 |
|
| - |
Gross Profit (Loss) |
| 208 |
|
| - |
|
| 208 |
|
| 6,036 |
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
Software development costs |
| - |
|
| - |
|
| - |
|
| 6,487 |
General and administrative expenses |
| 112,900 |
|
| 36,663 |
|
| 134,471 |
|
| 109,928 |
Professional fees |
| 42,299 |
|
| 3,918 |
|
| 142,160 |
|
| 22,304 |
Depreciation |
| 1,061 |
|
| 543 |
|
| 3,183 |
|
| 1,706 |
TOTAL OPERATING EXPENSES |
| 156,260 |
|
| 41,124 |
|
| 279,814 |
|
| 140,425 |
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING LOSS |
| (156,052) |
|
| (41,124) |
|
| (279,606) |
|
| (134,389) |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
| (4,050) |
|
| (772) |
|
| (4,725) |
|
| (63,579) |
Change in fair value of derivative liability |
| - |
|
| (938) |
|
| - |
|
| 902 |
Net loss on extinguishment of debt |
| - |
|
| - |
|
| - |
|
| (48,616) |
|
|
|
|
|
|
|
|
|
|
|
|
LOSS BEFORE INCOME TAXES |
| (160,102) |
|
| (42,854) |
|
| (284,331) |
|
| (245,682) |
|
|
|
|
|
|
|
|
|
|
|
|
PROVISION FOR INCOME TAXES |
| - |
|
| - |
|
| - |
|
| - |
NET LOSS | $ | (160,102) |
| $ | (42,854) |
| $ | (284,331) |
| $ | (245,682) |
|
|
|
|
|
|
|
|
|
|
|
|
NET LOSS PER SHARE: BASIC AND DILUTED | $ | (0.00) |
| $ | (0.00) |
| $ | (0.01) |
| $ | (0.00) |
|
|
|
|
|
|
|
|
|
|
|
|
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED |
| 42,553,839 |
|
| 31,091,975 |
|
| 41,287,905 |
|
| 31,091,975 |
The accompanying notes are an integral part of these unaudited condensed financial statements.
CANNABIS SUISSE CORP.
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT
FOR THE THREE AND NINE MONTHS ENDED FEBRUARY 28, 2023 AND 2022
(unaudited)
5
| Preferred Stock | Common Stock |
|
|
|
| ||||||||
Shares | Amount | Shares | Amount | Additional Paid-In- Capital | Unearned Compensation | Accumulated Deficit | Total Stockholders’ Deficit | |||||||
|
|
|
|
|
|
|
|
|
| |||||
Balance, May 31, 2021 | - | $ | - | 34,500,000 | $ | 34,500 | $ | 652,860 | $ | - | $ | (874,854) | $ | (187,494) |
Conversion of Notes Payable into Common Shares | - |
| - | 1,034,561 |
| 1,034 |
| 63,601 |
| - |
| - |
| 64,635 |
Conversion of Common Shares into Preferred Shares | 5,000,000 |
| 5,000 | (5,000,000) |
| (5,000) |
| - |
| - |
| - |
| - |
Net Loss | - |
| - | - |
| - |
| - |
| - |
| (129,647) |
| (129,647) |
Balance, August 31, 2021 | 5,000,000 |
| 5,000 | 30,534,561 |
| 30,534 |
| 716,461 |
| - |
| (1,004,501) |
| (252,506) |
Conversion of Notes Payable into Common Shares | - |
| - | 557,414 |
| 558 |
| 31,494 |
| - |
| - |
| 32,052 |
Net Loss | - |
| - | - |
| - |
| - |
| - |
| (73,180) |
| (73,180) |
Balance, November 30, 2021 | 5,000,000 |
| 5,000 | 31,091,975 |
| 31,092 |
| 747,955 |
| - |
| (1,077,681) |
| (293,634) |
Conversion of Notes Payable into Common Shares | - |
| - | 3,000,000 |
| 3,000 |
| 27,000 |
| - |
| - |
| 30,000 |
Net Loss | - |
| - | - |
| - |
| - |
| - |
| (42,854) |
| (42,854) |
Balance, February 28, 2022 | 5,000,000 | $ | 5,000 | 34,091,975 | $ | 34,092 | $ | 774,955 | $ | - | $ | (1,120,535) | $ | (306,488) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, May 31, 2022 | 5,000,000 | $ | 5,000 | 40,654,938 | $ | 40,655 | $ | 742,997 | $ | - | $ | (1,062,744) | $ | (274,092) |
Conversion of Accrued Wages to Equity | - |
| - | - |
| - |
| 139,092 |
| - |
| - |
| 139,092 |
Contribution of assets | - |
| - | - |
| - |
| 33,100 |
| - |
| - |
| 33,100 |
Net Loss | - |
| - | - |
| - |
| - |
| - |
| (94,179) |
| (94,179) |
Balance, August 31, 2022 | 5,000,000 |
| 5,000 | 40,654,938 |
| 40,655 |
| 915,189 |
| - |
| (1,156,923) |
| (196,079) |
Net Loss | - |
| - | - |
| - |
| - |
| - |
| (30,050) |
| (30,050) |
Balance, November 30, 2022 | 5,000,000 |
| 5,000 | 40,654,938 |
| 40,655 |
| 882,089 |
| - |
| (1,186,973) |
| (226,129) |
Issuance of common stock for services | - |
| - | 3,600,000 |
| 3,600 |
| 140,400 |
| (30,000) |
| - |
| 114,000 |
Net Loss | - |
| - | - |
| - |
| - |
| - |
| (160,102) |
| (160,102) |
Balance, February 28, 2023 | 5,000,000 | $ | 5,000 | 44,254,938 | $ | 44,255 | $ | 1,055,589 | $ | (30,000) | $ | (1,347,075) | $ | (272,231) |
The accompanying notes are an integral part of these unaudited condensed financial statements.
CANNABIS SUISSE CORP.
GEANT CORP.
CONDENSED STATEMENTS OF CASH FLOWS
(UNAUDITED)
| For the six months ended November 30, 2017 | For the six months ended November 30, 2016 | |||||
CASH FLOWS FROM OPERATING ACTIVITIES |
|
| |||||
Net loss for the period | $ | (6,318 | ) | $ | (4,046 | ) | |
Adjustments to reconcile net loss to net cash (used in) operating activities: |
|
| |||||
Depreciation | 3,448 | 195 | |||||
Decrease/Increase in Inventory | 2,303 | (745 | ) | ||||
Decrease/Increase in Prepaid expenses | 720 | (1,423 | ) | ||||
Decrease in Accounts Payable | - | (280 | ) | ||||
CASH FLOWS USED IN OPERATING ACTIVITIES | 153 | (6,299 | ) | ||||
|
|
| |||||
CASH FLOWS FROM FINANCING ACTIVITIES |
|
| |||||
Proceeds from sale of common stock | - | 9,530 | |||||
Loans | - | 6,000 | |||||
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES | - | 15,530 | |||||
|
|
| |||||
NET INCREASE IN CASH | 153 | 9,231 | |||||
|
|
| |||||
Cash, beginning of period | 6,186 | 1,065 | |||||
|
|
| |||||
Cash, end of period | $ | 6,339 | $ | 10,296 | |||
|
|
| |||||
SUPPLEMENTAL CASH FLOW INFORMATION: |
|
| |||||
Interest paid | $ | - | $ | - | |||
Income taxes paid | $ | - | $ | - |
(unaudited)
| For the nine months ended February 28, | ||||
2023 |
| 2022 | |||
OPERATING ACTIVITIES |
|
|
|
|
|
Net loss | $ | (284,331) |
| $ | (245,682) |
Adjustments to reconcile net loss to net cash provided by operations: |
|
|
|
|
|
Depreciation |
| 3,183 |
|
| 1,706 |
Stock Payment for Services |
| 114,000 |
|
| - |
Amortization of Right-of-use Assets |
| 3,163 |
|
| - |
Amortization of Debt Discount |
| - |
|
| 63,579 |
Loss on Extinguishment of Debt |
| - |
|
| 48,616 |
Change in Fair Value of Derivative Liability |
| - |
|
| (902) |
Changes in assets and liabilities: |
|
|
|
|
|
Accounts Receivable |
| - |
|
| (3,273) |
Inventory |
| - |
|
| 1,734 |
Prepaid Expenses |
| - |
|
| (6,512) |
Accounts Payable |
| 4,795 |
|
| - |
Accrued Expenses |
| 4,725 |
|
| 108,000 |
Operating Lease Liabilities |
| 7,889 |
|
| - |
Net cash used in Operating Activities |
| (146,576) |
|
| (32,734) |
|
|
|
|
|
|
FINANCING ACTIVITIES |
|
|
|
|
|
Advances from/ due to related parties |
| 16,659 |
|
| 2,234 |
Proceeds from convertible notes payable |
| 135,000 |
|
| 30,500 |
Net cash provided by Financing Activities |
| 151,659 |
|
| 32,734 |
|
|
|
|
|
|
Net cash increase (decrease) for period |
| 5,083 |
|
| - |
Cash at beginning of period |
| - |
|
| - |
Cash at end of period | $ | 5,083 |
| $ | - |
|
|
|
|
|
|
Supplemental Information |
|
|
|
|
|
Cash paid for taxes | $ | - |
| $ | - |
Cash paid for interest | $ | - |
| $ | - |
|
|
|
|
|
|
Noncash Investing and Financing Information |
|
|
|
|
|
Operating Lease Right-of-use Assets Exchanged for Operating Leases | $ | 330,591 |
|
| - |
Conversion of accrued wages to equity | $ | 139,092 |
| $ | - |
Contribution of assets | $ | 33,100 |
| $ | - |
The accompanying notes are an integral part of these unaudited condensed financial statements.
6CANNABIS SUISSE CORP.
GEANT CORP.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
NOVEMBER 30, 2017(unaudited)
(UNAUDITED)
NOTE 1 –- ORGANIZATION AND NATURE OF BUSINESS
Geant Corp. (“the Company”, “we”, “us” or “our”) was incorporated in the State of Nevada on February 26, 2016 to start business operations concerned with production of paper made from elephant dung for making various stationery products and subsequent selling thereof. Our office is located at Kiranthidiya road 114, Beruwala, Sri Lanka, 12070. Our phone number is +17027510467.
NOTE 2 – GOING CONCERN
The accompanying financial statements have been preparedCompany is engaged in conformity with generally accepted accounting principles, which contemplate continuationthe business of production of OTC (over-the-counter) products - for example CBD oils, retail branded cigarettes and also some health-related supplements. We use various distribution channels for various types of customers. The Company’s products can be sold to both corporate customers and individual clients.
In late May 2022, the former shareholder signed an agreement to sell all his stock to Mr. Scott McAlister. The stock purchase agreement was closed in early June 2022. Since the ownership change, the Company as a going concern. The Company had limited revenues as of November 30, 2017. The Company has not completedstarted its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern.
Management anticipates thatreal estate business, and in February 2023, the Company will be dependent,leased two properties and one of them has been leased out for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.rental revenue.
NOTE 3 –2 - SUMMARY OF SIGNIFCANTSIGNIFICANT ACCOUNTING POLICIES
Basis of presentationPresentation
The accompanyingsummary of significant accounting policies of the Company is presented to assist in understanding the Company’s condensed interim financial statements. The condensed interim financial statements have been prepared in accordance withand notes are representations of the Company’s management, who is responsible for integrity and objectivity. These accounting policies conform to accounting principles generally accepted accounting principles in the United States of America. America (gaap) and have been consistently applied in the preparation of the unaudited condensed financial statements.
The Company’s yearendyear-end is May 31.
The financial information furnished herein reflects all adjustments, consisting of normal recurring items that, in the opinion of management, are necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods. The results of operations for the nine months ended February 28, 2023 are not necessarily indicative of the results to be expected for the year ending May 31, 2023.
The information included in this Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended May 31, 2022.
Use of Estimates
The preparation of the unaudited condensed financial statements in conformity with generally accepted accounting principlesGAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and CashEquivalents Equivalents
TheCompanyconsidersThe Company considers allhighlyliquidinvestmentswiththeoriginalmaturitiesofthreemonths highly liquid investments with the original maturities of three months orless less tobe cashequivalents.cash equivalents. The Company had $6,339$5,083 in its escrow account and $0 of cash and cash equivalents as of November 30, 2017February 28, 2023 and $6,187 as of May 31, 2017.2022, respectively. The funds in the escrow account can be released for the Company’s operations without restriction.
Prepaid Expenses
Prepaid Expenses are recorded at fair market value. The Company had $103 of prepaid rent as of November 30, 2017and $823 as of May 31, 2017.
Inventories
Inventories are stated at the lower of cost or market. Cost is principally determined using the first-in, first out (FIFO) method. The Company had $6,693 in raw material inventory as of November 30, 2017and $8,996 as of May 31, 2017.
Depreciation, Amortization, and CapitalizationAccounts Receivable
The Company records depreciationaccounts receivable at the time products and amortizationservices are delivered. An allowance for losses is established through a provision for losses charged to expenses. Receivables are charged against the allowance for losses when appropriate using straight-line balance methodmanagement believes collectability is unlikely. The allowance (if any) is an amount that management believes will be adequate to absorb estimated losses on existing receivables. The allowance for losses was $0 as of February 28, 2023, and May 31, 2022.
Property and equipment
Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided over the assets’ estimated useful lifelives, using the straight-line method. Estimated useful lives of the assets. We estimate that the useful life of ourplant and equipment (beater machine, stainless steel drum, plastic barrel drums) is fiveare as follows:
Equipment, Furniture and Fixtures | 5-10 years |
CANNABIS SUISSE CORP.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
(unaudited)
The cost and industrial water filter is seven years.Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removedof assets sold or otherwise retired are eliminated from theappropriatedthe accounts and the resultantany gain or loss is included in net income.the statements of operations. The cost of maintenance and repairs is charged to the statements of operations as incurred, whereas significant renewals and betterments are capitalized.
Leases
7
GEANT CORP.
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2017
(UNAUDITED)The Company adopts the accounting for leases under Accounting Standards Codification (ASC) 842 Lease Accounting and determines if an arrangement is a lease or contains a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, and operating lease liabilities (short term and long term) in the Company’s condensed balance sheets.
NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (CONTUNUED)
Fair Value of Financial Instruments
ASC Topic 820 "Fair Value MeasurementsROU assets represent the right to use an underlying asset for the lease term and Disclosures" establishes a three-tier fair value hierarchy, which prioritizeslease liabilities represent the inputs in measuring fair value. The hierarchy prioritizesobligation to make lease payments arising from the inputs into three levelslease. Operating lease ROU assets and liabilities are recognized at commencement date based on the extentpresent value of lease payments over the lease term. The Company uses the incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Impairment of Long-Lived Assets
The Company evaluates the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Our evaluation is based on an assessment of potential indicators of impairment, such as an adverse change in the business climate that could affect the value of an asset, current or forecasted operating or cash flow losses that demonstrate continuing losses associated with the use of an asset, and a current expectation that, more likely than not, an asset will be disposed of before the end of its previously estimated useful life. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which inputs used in measuringthe carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are observablereported at the lower of the carrying amount or fair value less costs to sell.
During the nine months ended February 28, 2023 and 2022, the Company recognized an impairment of long-lived assets in the market.amount of $0, respectively.
These tiers include:
|
|
|
|
|
|
The carrying value of cash and the Company’s loan from shareholder approximates its fair value due to their short-term maturity.
Income Taxes
The Company accounts for its income taxes in accordance with ASC 740, Income Taxes, Topic of the FASB ASC 740, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases and tax credit,credits and carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date.
Revenue Recognition
The Company recognizes revenue in accordance with ASC 605, “Revenue Recognition” ("ASC-605"), whichAccounting Standards Update (ASU) 2014-09, Revenue from contracts with customers (Topic 606). Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed naturedisclosure of the selling pricesnature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such timeconsiderations that the Company expects to receive in exchange for those goods.
The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the customer jointly determineCompany satisfies each performance obligation.
The Company only applies the five-step model to contracts when it is probable that the product has been deliveredentity will collect the consideration it is entitled to in exchange for the goods or no refund willservices it transfers to the customer. Once a contract is
CANNABIS SUISSE CORP.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
(unaudited)
determined to be required.within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery.
Cost of Goods Sold
Cost of goods sold includes direct costs of selling items, direct labor cost, rent expense and electricity.
Basic Income (Loss) Per Share
The Company computes income (loss) per share in accordance with FASB ASC 260 “EarningsEarnings per Share”.Share. Basic loss per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all potential common shares if their effect is anti-dilutive. As of November 30, 2017February 28, 2023 and May 31, 2022, there were no potentially dilutive debt or equity instruments issued or outstanding.
Comprehensive IncomeRecent Accounting Pronouncements
Comprehensive income is defined as allThere have been no recent accounting pronouncements or changes in stockholders' equity (deficit), exclusive of transactions with owners, such as capital investments. Comprehensive income includes net income or loss, changes in certain assets and liabilitiesaccounting pronouncements during the nine months ended February 28, 2023, that are reported directly in equity such as translation adjustments on investments in foreign subsidiaries and unrealized gains (losses) on available-for-sale securities. As of November 30, 2017and 2016there were no differences between our comprehensive loss and net loss.
Stock-Based Compensation
Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.
8
GEANT CORP.
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2017
(UNAUDITED)
NOTE 3 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES (CONTUNUED)
Recent Accounting Pronouncements
We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact onsignificance or potential significance to the Company.
NOTE 3 - GOING CONCERN
The accompanying condensed financial statements have been prepared in conformity with GAAP, which contemplate continuation of the Company as a going concern. However, the Company had limited revenues and recurring losses as of February 28, 2023. The Company has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Therefore, there is substantial doubt about the Company’s ability to continue as a going concern.
Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses. The Company intends to position itself so that it will be able to raise additional funds through the capital markets. In light of management’s efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.
NOTE 4 –- PROPERTY AND EQUIPMENT
| November 30, 2017 | May 31, 2017 | |||||
Equipment | $ | 16,451 | 16,451 | ||||
Leasehold improvements | $ | 8,354 | 8,354 | ||||
Accumulated Depreciation | $ | (6,068 | ) | (2,621 | ) | ||
Net equipment | $ | 18,737 | 22,184 |
Property and Equipment:
February 28, 2023 |
| May 31, 2022 | |||
Office equipment | $ | 1,400 |
| $ | - |
Furniture |
| 31,700 |
|
| - |
Accumulated depreciation |
| (3,183) |
|
| - |
| $ | 29,917 |
| $ | - |
For the sixthree months ended November 30, 2017February 28, 2023 and 2016 we2022, the Company recognized a depreciation expense in the amount of $3,448$1,061 and $195$543, respectively. For the nine months ended February 28, 2023 and 2022, the Company recognized depreciation expense in the amount of $3,183 and $1,706, respectively.
NOTE 5 –- COMMITMENTS AND CONTINGENCIES
Our sole officer and director, Suneetha Nandana Silva Sudusinghe, has agreed to provide us his own premises for free. He won’t take any fee for these premises. It isused forDuring the productionnormal course of goods.
OnSeptember 28, 2016business, the Company has signed a Rent office agreement, beginning on January 1, 2017may be exposed to litigation. When the Company becomes aware of potential litigation, it evaluates the merits of the case in accordance with ASC 450-20-50, Contingencies. The Company evaluates its exposure to the matter, possible legal or settlement strategies and will terminate on January 01, 2018. These premises willthe likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be used asrepresentative office forreasonably estimated, it establishes the customers. The rent expense fornecessary accruals. As of February 28, 2023, the six months ended November 30, 2017 and 2016 was $720 and $0 respectively.Company is not aware of any contingent liabilities that should be reflected in the condensed financial statements.
CANNABIS SUISSE CORP.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
(unaudited)
NOTE 6 –- RELATED PARTY TRANSACTIONS
The Company is utilizing and will continue to utilize funds from our sole officer and director who has verballyCompany’s former President, Suneetha Nandana Silva Sudusinghe, agreed to provide an interest-free loan as indicated byinterest free advances, due on demand, to the Company up to $100,000. For the nine months ended February 28, 2023, and 2022, Suneetha Nandana Silva Sudusinghe advanced to the Company $0 and $2,234, respectively.
In June 2022, the ownership changed, and the current major shareholder took the position of the president. For the nine months ended February 28, 2023, and 2022, the current president advanced to the Company $16,659 and $0, respectively.
In November 2022, the Company issued a verbal agreement finished up between Mr.Sudusinghe and Geant Corp.convertible note payable to the major shareholder in the amount of $50,000.The$135,000 to pay off the funds advanced from and the operating expenses paid by the shareholder. See Note 7 Convertible Notes Payable for terms and conditions.
As of February 28, 2023 and May 31, 2022, the balances of advances from related party loanparties were $16,659 and $1,589, respectively.
In June 2022, the major stockholder made contributions of office equipment and furniture to the sole memberCompany. The total value of the board and president of the company is unsecured, interest free and due on demand. The balance due to the director and president of the companycontributions was $29,100 as of November 30, 2017 and $29,100 as of May 31, 2017.$33,100.
Our sole officer and director,NOTE 7 - CONVERTIBLE NOTES PAYABLE
On April 1, 2021, Suneetha Nandana Silva Sudusinghe has agreedassigned Serhii Cherniienko $60,000 of his loan to provide us his own premisesCannabis Suisse Corp. The Agreement contains a provision that allows Serhii Cherniienko to convert the loan to common stock at a fixed price of $0.01 per share. Beneficial conversion feature was $60,000. Of the $60,000, $30,000 was converted to equity in December 2021, and the rest of $30,000 was assigned to Okie LLC. In November 2022, Okie LLC assigned the convertible note to Clifford Koschnick for free. He won’t take any fee for these premises. It is used for the production of goods.consideration.
NOTE 7 – COMMON STOCKOn April 15, 2021, Suneetha Nandana Silva Sudusinghe assigned Noi Tech LLC $30,000 of his loan to Cannabis Suisse Corp. The Agreement contains a provision that allows Noi Tech LLC to convert the loan to common stock at a fixed price of $0.01 per share. Beneficial conversion feature was $30,000. The note was assigned to Okie LLC with a $10,000 discount in May 2022. In November 2022, Okie LLC assigned the convertible note to Clifford Koschnick for consideration.
TheIn May 2022, Alain Parrik assigned his convertible note of $85,000 the Company has 75,000,000, $0.001 par valueowed him to Okie LLC. According to the note terms and conditions, the note can be converted to shares at a fixed price of common stock authorized.$0.005 per share. In November 2022, Okie LLC assigned the convertible note to Scott McAlister for consideration.
In November 2016,2022, the Company issued 240,000 sharesa convertible promissory note in the principal of common stock$135,000 to the Company’s CEO for cash proceedsfunds he has advanced the Company for expenses. The Note has a term of $9,530 atfour years, the interest rate is 12% and the conversion price is $0.04 per share.
NOTE 8 - LEASES
In December 2016,February 2023, the Company signed a lease to rent the office at 10 Newman Street, Jacksonville, FL 32202, with 10 N Newnan LLC, a related party owned by our CEO. The lease commencement date is February 1, 2023 and the lease term is thirty-six months. Based on the criteria and according to ASC 842, the Right-of-Use (ROU) asset is $194,758, and the lease liability and lease commitment is also the same amount. The monthly base rental payment is $6,469, and the Company has the option to pay all or a portion of the rent in shares of its common stock.
In February 2023, the Company signed a lease to rent the property at 2652 Blanding Blvd, Jacksonville, FL 32210, with 2600 Blanding Blvd., LLC, a related party owned by our CEO. The lease commencement date is February 1, 2023 and the lease term is thirty-six months. Based on the criteria and according to ASC 842, the Right-of-Use (ROU) asset is $135,833, and the lease liability and lease commitment is also the same amount. The monthly base rental payment is $5,000 with incentives of free-rent for the first three months, and the Company has the option to pay all or a portion of the rent in shares of its common stock.
CANNABIS SUISSE CORP.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
(unaudited)
In February 2023, the Company signed a sub-lease as the lessor to rent a portion of the property at 2652 Blanding Blvd to a third party private company. The monthly rent is $2,500 which will bring rental revenue of $30,000 annually. The term of the sub-lease is one year from February 2023 to January 2024.
The following table summarizes the presentation in the Company’s balance sheet of its operating leases.
|
| As of February 28, 2023 | |
Assets |
|
| |
Operating Lease |
| $ | 330,591 |
Less: Accumulated Amortization |
|
| (3,163) |
Total |
| $ | 327,428 |
|
|
|
|
Liabilities |
|
|
|
Lease liabilities - Short-term |
| $ | 103,877 |
Lease liabilities - Long-term |
|
| 234,603 |
Total operating lease liabilities |
| $ | 338,480 |
|
|
|
|
Future minimum lease payments as of February 28, 2023: |
|
|
|
|
|
|
|
Lease commitments |
|
|
|
Mar 2023 - Feb 2024 |
| $ | 138,677 |
Mar 2024 - Feb 2025 |
|
| 137,625 |
Mar 2025 - Jan 2026 |
|
| 126,156 |
|
|
|
|
Total undiscounted lease payments |
|
| 402,458 |
Imputed interest |
|
| (63,978) |
|
|
|
|
Total operating lease liabilities |
| $ | 338,480 |
NOTE 9 - STOCKHOLDERS’ EQUITY
On March 17, 2021, the Board of Directors, along with the majority stockholder, resolved that the 5,000,000 preferred shares with voting rights of 1 to 10 shall be issued to Suneetha Nandana Silva Sudusinghe in exchange for 5,000,000 common shares that Suneetha Nandana Silva Sudusinghe owned previously. The 5,000,000 preferred shares were issued on July 21, 2021.
On January 11, 2023, the Company issued 405,0003,600,000 restricted shares of common stock for cash proceeds of $16,280 at $0.04 per share.share to a consultant for services. The value of the 3,600,000 shares issued is $114,000.
In January 2017, the Company issued 120,000 shares of common stock for cash proceeds of $4,800 at $0.04 per share.
In March 2017, the Company issued 90,000 shares of common stock for cash proceeds of $3,585 at $0.04 per share.
There were 2,855,000 shares of common stock issued and outstanding as of November 30, 2017 and 2,855,000 as of May 31, 2017.
9
GEANT CORP.
NOTES TO THE FINANCIAL STATEMENTS
NOVEMBER 30, 2017
(UNAUDITED)
NOTE 8 –10 - INCOME TAXES
The Company adopted the provisions of uncertain tax positions as addressed in ASC 740-10-65-1. As a result of the implementation of ASC 740-10-65-1, the Company recognized no increase in the liability for unrecognized tax benefits.
The Company has no tax position at November 30, 2017February 28, 2023 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company does not recognizerecognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the periodperiods presented. The Company had no accruals for interest and penalties at November 30, 2017.February 28, 2023. The Company’s utilization of any net operating loss carry forwardcarryforward may be unlikely as a result of its intended activities.
The valuation allowance at November 30, 2017February 28, 2023 was $11,364.$206,856. The net change in valuation allowance during the six months endedNovember 30, 2017as of February 28, 2023, and May 31, 2022, was $2,149.$56,396. In assessing the reliabilityrealizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during
CANNABIS SUISSE CORP.
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
(unaudited)
the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment.
Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of November 30, 2017February 28, 2023 and 2016.May 31, 2022. All tax years since inception remains open for examination only by taxing authorities of US Federal and state of Nevada.
The Company has a net operating loss carryforward for tax purposes totaling $33,423$985,028 at November 30, 2017, expiringFebruary 28, 2023. According to current tax laws, the losses prior to 2018 can carryforward 20 years, and the losses in 2018 or later can carryforward indefinitely. The Company had losses of $43,526 prior to 2018 which can carryforward through 2035.fiscal year 2036. The losses of $941,502 in years of 2018 and later will carryforward indefinitely. There is a limitation on the amount of taxable income that can be offset by carryforwards after a change in control (generally greater than a 50% change in ownership). Temporary differences, which give rise to a net
The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the statutory rate of 21% to the income tax amount recorded as of February 28, 2023 and May 31, 2022 are as follows:
| As of November 30, 2017 | As of May 31, 2017 | |||||
Non-current deferred tax assets: |
|
|
| ||||
Net operating loss carryforward | $ | (33,423 | ) | (27,105 | ) | ||
Stock based compensation | $ | - | - | ||||
Inventory obsolescence | $ | - | - | ||||
Accrued officer compensation | $ | - | - | ||||
|
|
|
| ||||
Total deferred tax assets | $ | (11,364 | ) | (9,215 | ) | ||
Valuation allowance | $ | 11,364 | 9,215 | ||||
Net deferred tax assets | $ | - | - |
February 28, 2023 |
| May 31, 2022 | |||
Net operating loss carryforward | $ | (985,028) |
| $ | (716,474) |
Effective tax rate |
| 21% |
|
| 21% |
Deferred tax asset |
| 206,856 |
|
| 150,460 |
Less: Valuation allowance |
| (206,856) |
|
| (150,460) |
Net deferred asset | $ | - |
| $ | - |
NOTE 9 –11 - SUBSEQUENT EVENTS
In accordance with SFASFASB 165 (ASC 855-10)855), Subsequent Events, the Companyhas analyzed its operations subsequent to November 30, 2017February 28, 2023 to December 28, 2017, the date these condensed financial statements were issued, and has determined that it does not have any other material subsequent events to disclose in these condensed financial statements.
10
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
This quarterly report and other reports filed by Cannabis Suisse Corp. (Formerly Geant Corp.) (“we,” “us,” “our,” or the “Company”), from time to time contain or may contain forward-looking statements and information that are based upon beliefs of, and information currently available to, the Company’s management as well as estimates and assumptions made by Company’s management. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. When used in the filings, the words “anticipate”, “believe”, “estimate”, “expect”, “future”, “intend”, “plan” or the negative of these terms and similar expressions as they relate to the Company or the Company’s management identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions, and other factors. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
Our financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). These accounting principles require us to make certain estimates, judgments, and assumptions. We believe that the estimates, judgments, and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent there are material differences between these estimates.
Organization withinIn General
Cannabis Suisse Corp. developed an IT product called Cannabis Life. It is a mobile application based on an AI-chatbot that will have access to the Last Five Yearsmost up-to-date information and find out data about companies and brands that sell seeds, cannabis types, etc.
We
Cannabis Life is an innovative way of searching and learning any cannabis related data. Using the most relevant sources of today, the app will keep its users up with the trends and tendencies of cannabis industry. Communicating with the chatbot will be as smooth as it would be with a real human being thus giving users additional immersion into the learning process.
In May 2022, a change in control took place that was effective in June 2022. As a result we had no operations and were incorporated in the State of Nevada on February 26, 2016. We have never declared bankruptcy, have never been in receivership, and have never been involvedno longer in any legal action or proceedings.aspect of the cannabis industry. Since incorporation,the change in control we have not made any significant purchase or sale of assets. Our business office is located atKiranthidiya road 114, Beruwala, Sri Lanka, 12070. Our telephone number is +17027510467.
In General
We were incorporated inare continuing to lay the State of Nevada on February 26, 2016. We just recently started our operations. Our business is the production of paper made from elephant dung (poo) for making different stationery products and distribution thereof primarily in Sri Lanka. We have generated limited revenues since inception and our principal business activities to date also consist of creating a business plan, purchasing a domain-namegroundwork for our prospective webpage.business operations.
We are not
In February 2023, the Company signed a “shell company” withinlease to rent the meaning of Rule 405, promulgated pursuant to Securities Act, because we do have hard assets and real business operations.The total estimated minimum amount of funds required to develop our business is approximately $20,000. We need funds for offering costs, general administrative expenses, production equipment purchase, business development, marketing costs, support materials and costs associatedoffice at 10 Newman Street, Jacksonville, FL 32202, with being10 N Newnan LLC, a publicly reporting company. We have generated limited revenues from operations to date.
We will disperse our items in Sri Lanka and neighboring countries. We plan to use various distribution channels for various types of customers. As a rule we arranged for a wholesale exchange, however in the future we can make some items for various traveler shops and kiosks; corporate customers and individual customers will be coveredrelated party owned by our web pageCEO. The lease commencement date is February 1, 2023 and targeted marketing exercises.
Product Overview
Geant Corp.’s businessthe lease term is thirty-six months. Also in making unique productsFebruary 2023, the Company signed a lease to be soldrent the property at 2652 Blanding Blvd, Jacksonville, FL 32210, with 2600 Blanding Blvd., LLC, a related party Owned by our CEO. The lease commencement date is February 1, 2023 and the lease term is thirty-six months. The Company signed a sub-lease as the lessor to both mass-market customers and individual clients inrent a portion of the future. We wantproperty at 2652 Blanding Blvd to focus on something that is socially and environmentally responsible so we are contributinga third party private company for one year from February 1, 2023 to the solution and not adding to the problem. We want to work with something that had more meaning to us, something we could be passionate about, and that possibly could have an important social statement attached to it. All of our paper products are 100% recycled. They do not have any smell. They are made up of 70% fiber from elephant dung and 30%post-consumer paper. All papers everywhere are made from a pulp mixture derived from fiber materials. The most common papers today come from wood fiber pulp from cut trees. Our fibers of choice, of course, are dung fibers. We use the dung fibers from elephants to make our dung paper products.
11
All elephants that generate the dung that we require for our process have at least two things in common:
1) All are herbivores and have highly fibrous diets of different plants and vegetation.
2) All possess inefficient digestive systems that do not completely digest and breakdown all the fibers that they eat. This results in a significant amount of fibers remaining intact when these animals dung. There are no toxic chemicals used in our paper making process. Natural vegetative binding agents, along with water-soluble salt dyes for coloring are used.January 31, 2024.
Our dung papers are handmade and acid free.
We are focused on the production of dung paper for mass-market customers to give them the ability of making different stationery products, souvenirs, tourist-oriented products, up-market gifts and interior design items from natural products on advanced and unique designs. It would be easier for them to buy raw materials (paper) from us to produce needed products instead of making paper. It is easier for us at the beginning to set up the production of paper instead of setting up the whole paper production and of different kinds of stationery products at the same time. In the future we have plans about production of some additional stationery items aside from paper.
Geant Corp. has the ability to product handmade dung paper for making such original items as, for example:
Bags
Frames
Photo Albums
Notebooks
Stationery
Cards
However, first, we intend to launch a mass production of inexpensive handmade dung paper for making different stationery products and various tourist souvenirs, which were made using elephant dung.
Potential Customers
Our President and Director, Suneetha Nandana Silva Sudusinghe, will showcase our item and arrange with potential clients and wholesale purchasers. We expect to create and keep up a database of potential corporate customers who might be keen on our items. We will catch up with these customers intermittently and offer them free samples, presentations and uncommon rebates now and again.
Two fundamental classifications of our customers are:
Wholesale exchange; speaking to expansive organizations, which are assembling diverse stationery items. It is preference for them to purchase fit dung paper instead of making it themselves. Furthermore they have an opportunity to concentrate on the manufacturing process of stationery items.
Corporate customers, speaking to extensive, medium and little scale organizations, different affiliations and so on. This is a somewhat generous fragment of the business sector, which develops and routinely creates interest for different corporate blessings, gifts; things that advance brand mindfulness and so on.
Competition
We know that there are a number of obstacles to entering the market of dung paper items and the competition is rather high. There are several companies that offer comparative items and we will have to compete with them. We see the main competitive advantage of our competitors in the established customer base and marketing outlets. Howbeit, we arranged on a wholesale exchange, for the most part, so we will have capacity to offer our item for extensive organizations in huge amount. So our item is more extensive, and quality is better, and our ways to deal with business are more flexible.
One of our biggest competitive advantages is that our item is raw material for different companies. So we would have a major measure of delivering the item in a brief timeframe.
12
Some of the factors that may affect our business are as follows:
1. Number of Competitors Increase: different companies may follow our business model of distributing high quality paper items made from elephant dung, which will reduce our competitive edge.
2. Price: Our competitors may be selling similar product at a lower price forcing us to lower our prices as well and possibly sell our product at loss.
3. Substitute Products: competitors may substitute items made from elephant dung with comparable items made from dung of some other animals.
Marketing
Our sole director and chief executive officer, Suneetha Nandana Silva Sudusinghe, will be in charge of promoting of our company and our high quality dung paper. We intend to use such marketing strategies as web advertisements, direct mailing, and phone calls to acquire potential customers. We intend to attract traffic to our website by a variety of online marketing tactics such as registering with top search engines using selected key words and meta-tags, and utilizing link and banner exchange options. We will utilize numerous Internet showcasing instruments to direct activity to our site and distinguish potential clients. As of the date of this prospectus we have already purchased a website (www.geantcorp.com) and plan to develop it. We already have some description of our item, the procedure of production and incorporate some broad data and pictures of items companies can make from our paper.
Our site portrays samples of products which our Company is able to produce, the production procedure, and incorporates some broad data and pictures of high quality dung paper. We plan to utilize Internet advancement apparatuses on Facebook and Twitter to publicize our company and make connections to our site.
We intend to continue our marketing efforts during the life of our operations. There is no guarantee that we will be able to attract and more importantly retain enough customers to justify our expenditures. If we are unable to generate a significant amount of revenue and to successfully protect ourselves against those risks, then it would materially affect our financial condition and our business could be harmed.
Description of property
Our sole officer and director, Suneetha Nandana Silva Sudusinghe, has agreed to provide us his own premises at no charge. He will not take any fee for these premises. This premise is used for production of the goods.
On September 28, 2016 the Company has signed Rent office agreement, beginning on January 1, 2017 and will terminate on January 01, 2018. These premises will be used as representative office for the customers. The rent payment is $120 per month. For the six months ended November 30, 2017 and 2016 we have $720 and $0 of rent expense respectively.
Insurance
We do not maintain any insurance and do not intend to maintain insurance in the future. Because we do not have any insurance, if we are made a party of a products liability action, we may not have sufficient funds to defend the litigation. If that occurs a judgment could be rendered against us that could cause us to cease operations.
Research and Development Expenditures
We have not incurred any research expenditures since our incorporation.
Bankruptcy or Similar Proceedings
There has been no bankruptcy, receivership or similar proceeding.
Employees; Identification of Certain Significant Employees
We currently do not have no employees, other than our sole officer and director Suneetha Nandana Silva Sudusinghe.any employees. Our CEO/CFO acts as a consultant to the Company.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Results of Operations for the three and six monthnine months ended November 30, 2017February 28, 2023, and 2016:2022:
13
Revenue and costCost of goods soldGoods Sold
For the three month periodmonths ended November 30, 2017 and 2016February 28, 2022, the Company generated $6,500 and $3,800total revenue of $0. The cost of goods sold for the three months ended February 28, 2022 was also $0.
For the three months ended February 28, 2023, the Company generated total revenue of $2,500 from renting. The cost of renting for the three months ended February 28, 2023 was $2,292.
For the nine months ended February 28, 2022, the Company generated total revenue of $7,770 from selling products to the customers. The cost of goods sold for the nine months ended February 28, 2022 was $1,734.
For the six month periodnine months ended November 30, 2017 and 2016February 28, 2023, the Company generated $6,500total revenue of $2,500 from renting. The cost of renting for the nine months ended February 28, 2023 was $2,292.
The decrease in revenues and $5,100 revenue from selling productsincrease in cost is due to the customers.fact that the Company stopped its previous business late in the year ended May 31, 2022 and started a new business in real estate rental.
Operating expenses
Total operating expenses for the three month periodmonths ended November 30, 2017 and 2016February 28, 2022, were $4,431 and $221.$41,124. The operating expenses for the three month periodmonths ended November 30, 2017February 28, 2022, included bank service chargesprofessional fees of $47;$3,918; depreciation expense of $1,724; audit fees$543; and general and administrative expenses of $2,300; rent expense of $360.$36,663.
Total operating expenses for the six month periodthree months ended November 30, 2017 and 2016February 28, 2023, were $10,515 and $7,661.$156,260. The operating expenses for the six month periodthree months ended November 30, 2017February 28, 2023, included bank service chargesprofessional fees of $47;$42,299; depreciation expense of $3,448; audit$1,061; and general and administrative expenses of $112,900.
The increase of $115,136 in operating expenses was mainly due to the increase of the administrative expenses, which contains consulting services of $104,000.
Total operating expenses for the nine months ended February 28, 2022, were $140,425. The operating expenses for the nine months ended February 28, 2022, included professional fees of $6,300; rent$22,304; depreciation expense of $720.$1,706; software development costs of $6,487 and general and administrative expenses of $109,928.
Total operating expenses for the nine months ended February 28, 2023, were $279,814. The operating expenses for the nine months ended February 28, 2023, included professional fees of $142,160; depreciation expense of $3,183 and general and administrative expenses of $134,471.
The increase of $139,389 in operating expenses is mainly related to the increase of professional fees of $119,856. The increase of the professional fees for the nine months ended February 28, 2023 was due to the ownership change in June 2022 with more professional services needed for the increase of regulatory filings and related legal services.
Net LossChanges in Fair Value of Derivatives
The net loss/incomechanges in fair value of derivatives for the three month periodmonths ended November 30, 2017February 28, 2023 and 20162022, was loss $234$0 and income $2,568.$(938), respectively. The reason the fair value change of the derivatives was because the related debt instruments were converted or extinguished before May 31, 2022.
The changes in fair value of derivatives for the nine months ended February 28, 2023 and 2022, was $0 and $902, respectively. The reason the fair value change of the derivatives is the same reason as explained above.
Other expenses
Total other expenses for the three months ended February 28, 2023 and 2022 were $4,050 and $792. The other expenses for the three months ended February 28, 2023, included interest expense of $4,050. The other expenses for the three months ended February 28, 2022, included interest expense of $792.
Total other expenses for the nine months ended February 28, 2023 and 2022 were $4,725 and $112,195. The other expenses for the nine months ended February 28, 2023, included the interest expense of $4,725. The other expenses for the nine months ended February 28, 2022, included interest expense of $63,579 and net loss on extinguishment of debt of $48,616.
The increase in other expenses for the three months ended February 28, 2023 was due to the increase of the interest expenses; the decrease in other expenses for nine month ended February 28, 2023, was that there were no significant interest expenses and loss on extinguishment of debt as there were in the three and nine months ended February 28, 2022.
Net Loss
The net loss for the six month periodthree months ended November 30, 2017February 28, 2023 and 20162022 was $6,318$160,102 and $4,046.$42,854, respectively.
The net loss for the nine months ended February 28, 2023 and 2022 was $284,331 and $245,682, respectively.
The increases of $ 117,248 and $38,649 in net loss for the three and nine months, respectively, was due to the same reasons as explained above.
Liquidity and Capital Resources and Cash Requirements
AtNovember 30, 2017,As of February 28, 2023, the Company had cash in escrow of $6,339 ($6,187 as of May 31, 2017).Furthermore,$5,083. Furthermore, the Company had a working capital deficit of $15,965 (deficit of $13,094 as ofMay 31, 2017).$259,973.
During the six month periodnine months ended November 30, 2017,February 28, 2023 and 2022, the Company used $153$146,576 and $32,734 of cash in operating activities duerespectively. The change in cash used in operating activities is mainly related to its net loss and decreasethe increase in inventory of $2,303; decrease in prepaid expenses of $720 and depreciation of $3,448. professional fees.
During the six month periodnine months ended November 30, 2017February 28, 2023 and 2022, the Company used nohad $0 of cash in investing activities.
During the six month periodnine months ended November 30, 2017,February 28, 2023 and 2022, the Company generated no cash in financing activities.
During the six month period ended November 30, 2016, the Company used $6,299 of cash in operating activities due to its net losswas provided $151,659 and increase in inventory of $745; increase in prepaid expenses of $1,423; decrease in accounts payable of $280 and depreciation of $195.
During the six month period ended November 30, 2016 the Company used no cash in investing activities.
During the six month period ended November 30, 2016, the Company generated $15,530$32,734 of cash in financing activities.activities respectively. The increase was mainly due to the increase of convertible note payable.
AsIn its audited financial statements as of the date of this report, the current funds available toMay 31, 2022, the Company will not be sufficient to continue maintaining a reporting status. The Company’s sole officer and director, Suneetha Nandana Silva Sudusinghe, has concluded a verbal agreement with the Geant Corp. in order to fund completion of the registration process and to maintain the reporting status with SEC.
Our auditors havewas issued a “going concern” opinion, meaning that there is substantial doubt we can continue as an on-going business for the next twelve months unless we obtain additional capital. Our only sources for cash at this time are investments by others, in this offering, selling our paper dung products and loans from our director. We must raise cash to implement our plan and stay in business.We cannot guarantee that we will manage to sell all the shares required. We will attempt to raise the necessary funds to proceed with all phases of our plan of operation.
Management believes that current trends toward lower capital investment in start-up companies pose the most significant challenge to the Company’s success over the next year and in future years. Additionally, the Company will have to meet all the financial disclosure and reporting requirements associated with being a publicly reporting company. TheCompany’s management will have to spend additional time on policies and procedures to make sure it is compliant with various regulatory requirements, especially that of Section 404 of the Sarbanes-Oxley Act of 2002. This additional corporate governance time required of management could limit the amount of time management has to implement is business plan and impede the speed of its operations.
14
Limited operating history; need for additional capital
There is no historical financial information about us upon which to base an evaluation ofWe will rely on funds from our performance.operations and advances from our CEO in the near future. We are in a start-up stage of operations and have generated limited revenues since inception. We cannot guarantee that we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.
Related party transaction
The Company is utilizing and will continue to utilize funds from our sole officer and director who has verbally agreed to provide an interest-free loan as indicated by a verbal agreement finished up between Mr.Sudusinghe and Geant Corp. in the amount of $50,000. The related party loan to the sole member of the board and president of the company is unsecured, interest free and due on demand. The balance due to the director and president of the company was $29,100 as of November 30, 2017 and $29,100 as of May 31, 2017.
Our sole officer and director, Suneetha Nandana Silva Sudusinghe, has agreed to provide us his own premises for free. He won’t take any fee for these premises. It is used for the production of goods.
Off-Balance Sheet Arrangements
The Company does not have any off balanceoff-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company'sCompany’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
Related Party Transactions
The Company’s former President, Suneetha Nandana Silva Sudusinghe, agreed to provide interest free advances, due on demand, to the Company up to $100,000. For the nine months ended February 28, 2023, and 2022, Suneetha Nandana Silva Sudusinghe advanced to the Company $0 and $2,234, respectively.
In June 2022, the ownership changed, and the current major shareholder took the position of the president. For the nine months ended February 28, 2023, and 2022, the current president advanced to the Company $16,659 and $0, respectively.
In November 2022, the Company issued a convertible note payable to the major shareholder in the amount of $135,000 to pay off the funds advanced from and the operating expenses paid by the shareholder. See Note 7 Convertible Notes Payable for terms and conditions.
As of February 28, 2023 and May 31, 2022, the balances of advances from related parties were $16,659 and $1,589, respectively.
In June 2022, the major stockholder made contributions of office equipment and furniture to the Company. The total value of the contributions was $33,100.
Critical Accounting Policies
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. A change in managements’ estimates or assumptions could have a material impact on our financial condition and results of operations during the period in which such changes occurred. Actual results could differ from those estimates. Our financial statements reflect all adjustments that management believes are necessary for the fair presentation of their financial condition and results of operations for the periods presented.
Item 3. Quantitative and Qualitative Disclosures about Market Risk.
As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item.
Item 4. Controls and Procedures.
Disclosure Controls and Procedures
We maintain disclosure controls and procedures, as defined in Rule 13a‐13a‐15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"“Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission'sCommission’s rules and forms and that such information is We maintain disclosure controls and procedures, as defined in Rule 13a‐15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.
We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer,CEO/CFO, of the effectiveness of our disclosure controls and procedures as ofNovember 30, 2017. February 28, 2023. Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.
Management’s Report on Internal Control over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)). The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s internal control over financial reporting as of November 30, 2017 using the criteria established in “Internal Control - Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO - 2013").
15
A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. In its assessment of the effectiveness of internal control over financial reporting as of November 30, 2017,February 28, 2023, the Company determined that there were control deficiencies that constituted material weaknesses, as described below.
1.We do not have an Audit Committee –- While not being legally obligated to have an audit committee, it is the management’s view that such a committee, including a financial expert member, is an utmost
important entity level control over the Company’s financial statement. Currently the Board of Directors acts in the capacity of the Audit Committee, and does not include a member that is considered to be independent of management to provide the necessary oversight over management’s activities.
2.We did not maintain appropriate cash controls – As of November 30, 2017, the Company has not maintained sufficient internal controls over financial reporting for cash, including failure to segregate cash handling and accounting functions, and did not require dual signatures on the Company’s bank accounts. Alternatively, the effects of poor cash controls were mitigated by the fact that the Company had limited transactions in its bank accounts.
3.We did not implement appropriate information technology controls –- As at November 30, 2017,of February 28, 2023, the Company retains copies of all financial data and material agreements; however, there is no formal procedure or evidence of normal backup of the Company’s data or off-site storage of data in the event of theft, misplacement, or loss due to unmitigated factors.
Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.
As a result of the material weaknesses described above, management has concluded that the Company did not maintain effective internal control over financial reporting as of November 30, 2017February 28, 2023, based on criteria established in Internal Control- Integrated Framework issued by COSO-2013.
Changes in Internal Controls over Financial Reporting
There has been no change in our internal control over financial reporting occurred during our secondthird fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
PART II.II - OTHER INFORMATION
We know of no material, existing or pending legal proceedings against our Company, norto which we are we involved as a plaintiff in any material proceedingparty or pending litigation. There are no proceedings into which any of our directors, officersproperty is the subject which are pending, threatened or affiliates,contemplated or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.unsatisfied judgments against us.
As a “smaller reporting company” as defined by Item 10 of Regulation S-K, we are not required to provide information required by this Item.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
In January 2023, we issued 3,600,000 shares of our restricted Common Stock to a consultant for services. The stock was valued at $0.04 per share. We relied on section 4(2) of the Securities Act of 1933, as amended.
Item 3. Defaults Upon Senior Securities. |
|
None.
16None.
Item 4. Mine Safety Disclosure.
|
|
None.Not applicable to our Company.
Item 5. Other Information.
There is no other information required to be disclosed under this item which was not previously disclosed.
Item 6. Exhibits.
The following exhibits are included as part of this report by reference:
|
| |
Number | Exhibit Description | |
Certification of Chief Executive Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a). | ||
Certification of Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a). | ||
Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002. | ||
Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002. | ||
101.INS | Inline XBRL Instance Document | |
101.SCH | Inline XBRL Taxonomy Extension Schema Document | |
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | |
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | |
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
Not applicable to our Company.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized on April 19, 2023.
CANNABIS SUISSE CORP. | ||
By: | /s/ Scott McAlister | |
Name: | Scott McAlister | |
Title: | Chief Executive Officer, Chief Financial Officer. (Principal Executive, Financial and Accounting Officer) |
18
|
|
There is no other information required to be disclosed under this item which was not previously disclosed.
|
|
The following exhibits are included as part of this report by reference:
|
| |
|
| |
|
|
17
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in Sri Lanka, Beruwala on December 28, 2017.
| |||
|
|
| |
|
| ||
|
| ||
|
18