Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Feb. 29, 2024 | Apr. 12, 2024 | |
Details | ||
Registrant CIK | 0001680132 | |
Fiscal Year End | --05-31 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Feb. 29, 2024 | |
Document Transition Report | false | |
Entity File Number | 333-213009 | |
Entity Registrant Name | CANNABIS SUISSE CORP. | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 38-3993849 | |
Entity Address, Address Line One | 10 North Newnan Street, Suite A | |
Entity Address, City or Town | Jacksonville | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 32202 | |
City Area Code | 904 | |
Local Phone Number | 595 5820 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 46,254,938 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q3 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Feb. 29, 2024 | May 31, 2023 |
Current Assets | ||
Cash in Escrow Account | $ 44 | $ 199 |
Prepaid Expenses | 0 | 4,500 |
Total Current Assets | 44 | 4,699 |
Property and Equipment, net | 25,673 | 28,856 |
Operating Leases Right of Use Assets | 500,220 | 312,748 |
TOTAL ASSETS | 525,937 | 346,303 |
Current Liabilities | ||
Accounts Payable | 9,772 | 10,770 |
Accrued Interest Related Parties | 22,213 | 8,865 |
Advances From Related Parties | 54,235 | 29,159 |
Convertible Notes Payable | 50,000 | 135,000 |
Convertible Notes Payable - Related Party | 85,000 | 0 |
Lease Liabilities - Short-term | 188,648 | 149,997 |
Total Current Liabilities | 409,868 | 333,791 |
Convertible Note Payable - Related Party (non current) | 542,206 | 135,000 |
Operating Lease Liabilities - Long-term | 50,838 | 206,959 |
Total Liabilities | 1,002,912 | 675,750 |
Stockholders' Deficit | ||
Preferred Stock Value | 5,000 | 5,000 |
Common Stock, par value $0.001; 250,000,000 shares authorized, 46,254,938 and 44,254,938 shares issued and outstanding as of Feb 29, 2024 and May 31, 2023, respectively | 46,255 | 44,255 |
Additional Paid-In-Capital | 1,073,589 | 1,055,589 |
Unearned Compensations | 0 | (20,000) |
Accumulated Deficit | (1,601,819) | (1,414,291) |
Total Stockholders' Deficit | (476,975) | (329,447) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 525,937 | $ 346,303 |
BALANCE SHEETS - Parenthetical
BALANCE SHEETS - Parenthetical - $ / shares | Feb. 29, 2024 | May 31, 2023 |
BALANCE SHEETS | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Preferred Stock, Shares Issued | 5,000,000 | |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Shares, Issued | 46,254,938 | 44,254,938 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2024 | Feb. 28, 2023 | Feb. 29, 2024 | Feb. 28, 2023 | |
REVENUES | ||||
Revenue | $ 7,500 | $ 2,500 | $ 22,500 | $ 2,500 |
Cost of Revenues | 6,876 | 2,292 | 20,625 | 2,292 |
Gross Profit | 624 | 208 | 1,875 | 208 |
Revenue | 7,500 | 2,500 | 22,500 | 2,500 |
OPERATING EXPENSES | ||||
General and administrative expenses | 49,537 | 112,900 | 105,985 | 134,471 |
Professional fees | 12,887 | 42,299 | 66,887 | 142,160 |
Depreciation | 1,061 | 1,061 | 3,183 | 3,183 |
Total Operating Expenses | 63,485 | 156,260 | 176,055 | 279,814 |
Loss from Operations | (62,861) | (156,052) | (174,180) | (279,606) |
OTHER INCOME (EXPENSES) | ||||
Interest expense related party | (5,113) | (4,050) | (13,348) | (4,725) |
Loss Before Income Taxes | (67,974) | (160,102) | (187,528) | (284,331) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | $ (67,974) | $ (160,102) | $ (187,528) | $ (284,331) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 | $ 0 | $ (0.01) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 46,254,938 | 42,553,839 | 45,041,823 | 41,287,905 |
Rental Income | ||||
REVENUES | ||||
Revenue | $ 7,500 | $ 2,500 | $ 22,500 | $ 2,500 |
Revenue | $ 7,500 | $ 2,500 | $ 22,500 | $ 2,500 |
STATEMENT OF CHANGES IN STOCKHO
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Preferred Stock | Common Stock | Additional Paid-in Capital | Deferred Compensation, Share-Based Payments | Retained Earnings | Total |
Equity Balance at May. 31, 2022 | $ 5,000 | $ 40,655 | $ 742,997 | $ 0 | $ (1,062,744) | $ (274,092) |
Equity Balance, Shares at May. 31, 2022 | 5,000,000 | 40,654,938 | ||||
Conversion of Accrued Wages to Equity | $ 0 | $ 0 | 139,092 | 0 | 0 | 139,092 |
Contribution of assets | 0 | 0 | 33,100 | 0 | 0 | 33,100 |
Net income (loss) for the period | 0 | 0 | 0 | 0 | (94,179) | (94,179) |
Equity Balance at Aug. 31, 2022 | $ 5,000 | $ 40,655 | 915,189 | 0 | (1,156,923) | (196,079) |
Equity Balance, Shares at Aug. 31, 2022 | 5,000,000 | 40,654,938 | ||||
Equity Balance at May. 31, 2022 | $ 5,000 | $ 40,655 | 742,997 | 0 | (1,062,744) | (274,092) |
Equity Balance, Shares at May. 31, 2022 | 5,000,000 | 40,654,938 | ||||
Contribution of assets | 33,100 | |||||
Equity Balance at Feb. 28, 2023 | $ 5,000 | $ 44,255 | 1,055,589 | (30,000) | (1,347,075) | (272,231) |
Equity Balance, Shares at Feb. 28, 2023 | 5,000,000 | 44,254,938 | ||||
Equity Balance at Aug. 31, 2022 | $ 5,000 | $ 40,655 | 915,189 | 0 | (1,156,923) | (196,079) |
Equity Balance, Shares at Aug. 31, 2022 | 5,000,000 | 40,654,938 | ||||
Net income (loss) for the period | $ 0 | $ 0 | 0 | 0 | (30,050) | (30,050) |
Equity Balance at Nov. 30, 2022 | $ 5,000 | $ 40,655 | 915,189 | 0 | (1,186,973) | (226,129) |
Equity Balance, Shares at Nov. 30, 2022 | 5,000,000 | 40,654,938 | ||||
Net income (loss) for the period | $ 0 | $ 0 | 0 | 0 | (160,102) | (160,102) |
Equity Balance at Feb. 28, 2023 | $ 5,000 | $ 44,255 | 1,055,589 | (30,000) | (1,347,075) | (272,231) |
Equity Balance, Shares at Feb. 28, 2023 | 5,000,000 | 44,254,938 | ||||
Issuance of stock for services, value | $ 0 | $ 3,600 | 140,400 | (30,000) | 0 | $ 114,000 |
Issuance of stock for services, shares | 0 | 3,600,000 | 3,600,000 | |||
Equity Balance at May. 31, 2023 | $ 5,000 | $ 44,255 | 1,055,589 | (20,000) | (1,414,291) | $ (329,447) |
Equity Balance, Shares at May. 31, 2023 | 5,000,000 | 44,254,938 | ||||
Net income (loss) for the period | $ 0 | $ 0 | 0 | 0 | (64,757) | (64,757) |
Equity Balance at Aug. 31, 2023 | $ 5,000 | $ 44,255 | 1,055,589 | (10,000) | (1,479,048) | (384,204) |
Equity Balance, Shares at Aug. 31, 2023 | 5,000,000 | 44,254,938 | ||||
Amortization of unearned compensation | $ 0 | $ 0 | 0 | 10,000 | 0 | 10,000 |
Equity Balance at May. 31, 2023 | $ 5,000 | $ 44,255 | 1,055,589 | (20,000) | (1,414,291) | (329,447) |
Equity Balance, Shares at May. 31, 2023 | 5,000,000 | 44,254,938 | ||||
Contribution of assets | 0 | |||||
Equity Balance at Feb. 29, 2024 | $ 5,000 | $ 46,255 | 1,073,589 | 0 | (1,601,819) | (476,975) |
Equity Balance, Shares at Feb. 29, 2024 | 5,000,000 | 46,254,938 | ||||
Equity Balance at Aug. 31, 2023 | $ 5,000 | $ 44,255 | 1,055,589 | (10,000) | (1,479,048) | (384,204) |
Equity Balance, Shares at Aug. 31, 2023 | 5,000,000 | 44,254,938 | ||||
Net income (loss) for the period | $ 0 | $ 0 | 0 | 0 | (54,797) | (54,797) |
Equity Balance at Nov. 30, 2023 | $ 5,000 | $ 46,255 | 1,073,589 | 0 | (1,533,845) | (409,001) |
Equity Balance, Shares at Nov. 30, 2023 | 5,000,000 | 46,254,938 | ||||
Amortization of unearned compensation | $ 0 | $ 0 | 0 | 10,000 | 0 | 10,000 |
Issuance of common stock, value | $ 0 | $ 2,000 | 18,000 | 0 | 0 | $ 20,000 |
Issuance of common stock, shares | 0 | 2,000,000 | 2,000,000 | |||
Net income (loss) for the period | $ 0 | $ 0 | 0 | 0 | (67,974) | $ (67,974) |
Equity Balance at Feb. 29, 2024 | $ 5,000 | $ 46,255 | $ 1,073,589 | $ 0 | $ (1,601,819) | $ (476,975) |
Equity Balance, Shares at Feb. 29, 2024 | 5,000,000 | 46,254,938 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Feb. 29, 2024 | Feb. 28, 2023 | Aug. 31, 2022 | Feb. 29, 2024 | Feb. 28, 2023 | May 31, 2023 | |
Cash Flows from Operating Activities | ||||||
Net Income (Loss) | $ (67,974) | $ (160,102) | $ (187,528) | $ (284,331) | ||
Adjustments to reconcile net loss to net cash provided by operations | ||||||
Depreciation and amortization, cash flows | 3,183 | 3,183 | ||||
Stock Payment for Services | 20,000 | 114,000 | ||||
Operating lease liabilities, cash flows | 102,264 | 11,052 | ||||
Changes in assets and liabilities | ||||||
Increase (decrease) in prepaid expenses | 4,500 | 0 | ||||
Increase (decrease) in accounts payable | (998) | 4,795 | ||||
Increase (decrease) in accrued expenses | 13,348 | 4,725 | ||||
Net cash used in Operating Activities | (45,231) | (146,576) | ||||
Net Cash Flows from Investing Activities | ||||||
Net cash provided (used) by Investing Activities | 0 | 0 | ||||
Net Cash Flows from Financing Activities | ||||||
Proceeds from related party advances | 25,076 | 16,659 | ||||
Proceeds from issuance of stock | 20,000 | 0 | ||||
Proceeds from convertible debt | 0 | 135,000 | ||||
Net cash provided by Financing Activities | 45,076 | 151,659 | ||||
Net cash increase (decrease) for period | (155) | 5,083 | ||||
Cash at beginning of period | $ 0 | 199 | 0 | $ 0 | ||
Cash at end of period | $ 44 | $ 5,083 | 44 | 5,083 | $ 199 | |
SUPPLEMENTAL | ||||||
Cash paid for taxes | 0 | 0 | ||||
Cash paid for interest | 0 | 0 | ||||
Noncash Investing and Financing Information | ||||||
Operating Lease Right-of-use Assets Exchanged for Operating Leases | 330,591 | |||||
Conversion of accrued wages to equity | 0 | 139,092 | ||||
Contribution of assets | $ 33,100 | 0 | 33,100 | |||
Reclass convertible note payable to convertible note payable - related party | $ 85,000 | $ 0 |
ORGANIZATION AND NATURE OF BUSI
ORGANIZATION AND NATURE OF BUSINESS DISCLOSURE | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
ORGANIZATION AND NATURE OF BUSINESS DISCLOSURE | NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS Cannabis Suisse Corp. (“Company”) was incorporated in the State of Nevada on February 26, 2016 to start business operations connected with production of paper made from elephant dung for making various stationery products and subsequent selling thereof. On February 20, 2019, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Nevada Secretary of State which changed the Company’s name from Geant Corp. to Cannabis Suisse Corp. The Company was engaged in the business of production of OTC (over-the-counter) products - for example CBD oils, retail branded cigarettes and also some health-related supplements. 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 started its real estate business, and in February 2023, the Company leased two properties and one of them has been leased out for rental revenue. In February 2024, the Company leased two additional pieces of real properties for future expansion. See the details of the terms and conditions in Note 9. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The summary of significant accounting policies of the Company is presented to assist in understanding the Company’s interim financial statements. The interim financial statements and notes are representations of the Company’s management, who is responsible for integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the unaudited financial statements. 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 24, 2024 are not necessarily indicative of the results to be expected for the year ending May 31, 2024. 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, 2023. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, (GAAP). The Company’s year-end is May 31. Use of Estimates The preparation of the unaudited financial statements in conformity with GAAP 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 Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company has $44 and $199 of cash and cash equivalents in its escrow account as of February 29, 2024 and May 31, 2023, respectively. The funds in the escrow account can be released for the Company’s operations without restriction. Property and equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided over the assets’ estimated useful lives, using the straight-line method. Estimated useful lives of the property and equipment are as follows: Equipment, Furniture and Fixtures 5-10 years The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in 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 The Company adheres to the accounting for leases under Accounting Standards Codification (ASC) 842 Lease Accounting ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present 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 the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. During the three and nine months ended February 29, 2024 and February 28, 2023, the Company recognized an impairment of long-lived assets in the amount of $0. Fair Value of Financial Instruments ASC 820 Fair Value Measurements and Disclosures These tiers include: · · · The carrying value of the Company’s cash, other current assets, accounts payable, accrued expenses and advances from related parties 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 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. Rent Revenue Recognition The Company recognizes rent revenue from the lease of its sub-leased properties in accordance with ASC 842, Leases The Company’s leases generally have fixed rental payments over the lease term, with occasional escalations based on predetermined factors. Rent revenue is recognized monthly as the lease fulfills its obligations under the lease agreement. Any lease incentives or concessions provided to lessees, such as rent-free periods or tenant improvement allowances, are recognized as a reduction of rent revenue over the lease term. For the three and nine months ended February 29, 2024, the Company recognized rent revenue of $7,500 and $22,500, respectively, from its lease agreement. This amount represents the portion of the total lease payments earned over the lease term. Rent revenue of $2,500 was recognized for the three and nine months ended February 28, 2023. Cost of Goods Sold Cost of goods sold includes direct costs of selling items, direct labor cost, rent expense and electricity. Stock-Based Compensation The Company accounts for share-based compensation awards in accordance with ASC 718, “Compensation - Stock Compensation”. The cost of services received from employees and non-employees in exchange for awards of equity instruments is recognized in the statement of operations based on the estimated fair value of those awards on the grant date and amortized on a straight-line basis over the requisite service period or vesting period. The Company records forfeitures as they occur. Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 Earnings per 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. Under the if-converted method, outstanding convertible instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). As of February 29, 2024 and May 31, 2023, there were potentially dilutive debt or equity instruments issued or outstanding, see convertible notes details in Notes 7 & 8. Reclassification Certain accounts from prior periods have been reclassified to conform to the current period presentation. Recent Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the nine months ended February 29, 2024, that are of significance or potential significance to the Company. |
Going Concern Disclosure
Going Concern Disclosure | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
Going Concern Disclosure | NOTE 3 - GOING CONCERN The accompanying 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 29, 2024. 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. |
Property and Equipment Disclosu
Property and Equipment Disclosure | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
Property and Equipment Disclosure | NOTE 4 - PROPERTY AND EQUIPMENT Property and Equipment: February 29, 2024 May 31, 2023 Office equipment $ 1,400 $ 1,400 Furniture 31,700 31,700 Accumulated depreciation (7,427) (4,244) $ 25,673 $ 28,856 For the three months ended February 29, 2024 and February 28, 2023, the Company recognized depreciation expense in the amount of $1,061. For the nine months ended February 29, 2024 and February 28, 2023, the Company recognized depreciation expense in the amount of $3,183. |
Commitments and Contingencies D
Commitments and Contingencies Disclosure | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
Commitments and Contingencies Disclosure | NOTE 5 - COMMITMENTS AND CONTINGENCIES During the normal course of business, the Company may 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 the likelihood of an unfavorable outcome. If the Company determines that an unfavorable outcome is probable and can be reasonably estimated, it establishes the necessary accruals. As of February 29, 2024, the Company is not aware of any contingent liabilities that should be reflected in the financial statements. |
Related Party Transactions Disc
Related Party Transactions Disclosure | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
Related Party Transactions Disclosure | NOTE 6 - RELATED PARTY TRANSACTIONS In June 2022, the ownership changed, and the current major shareholder took the position of the president. For the nine months ended February 29, 2024 and February 28, 2023, the current president advanced to the Company $25,076 and $113,320, respectively, of which $96,661 was included in the amount converted to the note payable (see Noted 7 & 8 below). 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 Notes 7 & 8 Convertible Notes Payable & Convertible Notes Payable - Related Parties for terms and conditions. The Company has leases with related parties see Note 9 for terms, conditions, and amounts. As of February 29, 2024 and May 31, 2023, the balances of advances from related parties were $54,235 and $29,159, 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. In September 2023, the majority shareholder, who is also the Company’s CEO, paid $20,000 to the Company for 2,000,000 shares of common stock. |
CONVERTIBLE DEBT DISCLOSURE
CONVERTIBLE DEBT DISCLOSURE | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
CONVERTIBLE DEBT DISCLOSURE | NOTE 7 - CONVERTIBLE NOTES PAYABLE On April 1, 2021, Suneetha Nandana Silva Sudusinghe assigned Serhii Cherniienko $60,000 of his loan to Cannabis 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 consideration. On 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. |
Convertible Notes Payable Relat
Convertible Notes Payable Related Parties, Disclosure | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
Convertible Notes Payable Related Parties, Disclosure | NOTE 8 - CONVERTIBLE NOTES PAYABLE RELATED PARTIES In May 2022, Alain Parrik assigned his convertible note of $85,000 the Company owed him to Okie LLC. According to the note terms and conditions, the note can be converted to shares at a fixed price of $0.005 per share. In November 2022, Okie LLC assigned the convertible note to Scott McAlister for consideration. In November 2022, the Company issued a convertible promissory note in the principle of $135,000 to the Company’s CEO for funds he has advanced the Company for expenses. The Note has a term of four years, the interest rate is 12% and the conversion price is $0.04 per share. In February 20, 2024, the Company issued a convertible promissory note in the amount of $187,852 to the Company’s CEO for the prepayment of the lease entered in February 2023 for three years from February 2023 to January 2026 for the property at 10 N Newnan Street, Jacksonville, FL 32202. In February 2024, the lease was extended for an additional two years to January 2028. The total payments for the four years are $375,704 and the landlord offered 50% discount for the prepayment. The Company issued this note to pay off the lease. The note has a term of four years, the interest rate is 10% per annum and the conversion price is $0.07 per share of common stock. The maturity date is February 20, 2028. In February 20, 2024, the Company issued a convertible promissory note in the amount of $101,760 to the Company’s CEO for the prepayment of the lease entered in January 2024 for three years from January 2024 to December 2026 for the property at 1268 Church Street, Jacksonville, FL 32202. In February 2024, the lease was extended for an additional two years to December 2028. The total payments for the five years are $203,520 and the landlord offered 50% discount for the prepayment. The Company issued this note to pay off the lease. The note has a term of five years, the interest rate is 10% per annum and the conversion price is $0.07 per share of common stock. The maturity date is February 20, 2029. In February 20, 2024, the Company issued a convertible promissory note in the amount of $117,593 to the Company’s CEO for the prepayment of the lease entered in February 2024 for five years from February 2024 to January 2029 for the property at 2502 Blanding Blvd, Jacksonville, FL 32210. The total payments for the five years are $235,185 and the landlord offered 50% discount for the prepayment. The Company issued this note to pay off the lease. The note has a term of five years, the interest rate is 10% per annum and the conversion price is $0.07 per share of common stock. The maturity date is February 20, 2029. As of February 29, 2024, the maturities of the long-term convertible notes are as follows: Year ending Amount February 28, 2025 $ 0 February 28, 2026 0 February 28, 2027 135,000 February 28, 2028 187,852 February 28, 2029 219,354 Total $ 542,206 For the nine and three months ended February 29, 2024, the interest expenses were $13,348 and $5,113, respectively. For the nine and three months ended February 28, 2023, they were $4,725 and $4,050, respectively. As of February 29, 2024, the balance of accrued interest was $22,213. |
Operating Leases Disclosure
Operating Leases Disclosure | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
Operating Leases Disclosure | NOTE 9 - LEASES WITH RELATED PARTIES AND THIRD-PARTIES In February 2023, the Company signed a lease to rent the office at 10 Newnan Street, Jacksonville, FL 32202, with 10 N Newnan LLC, a related party owned by the Company's CEO. The lease commencement date is February 1, 2023 and the lease term is thirty-six months. In February 2024, The Company extended the lease for an additional two years and the new maturity date is January 31, 2028. Meanwhile the landlord offered a 50% discount for the prepayment of the lease. Based on the criteria and according to ASC 842, the Right-of-Use (ROU) asset was $194,758, and the lease liability and lease commitment is also the same amount at the commencement date for the first three years. In February 2024, the Company prepaid the lease for the rest of four years, and meanwhile the balance of right-of-use assets (ROU) was adjusted to $187,852, equal to the amount of the prepayment. As of February 29, 2024, the balance of ROU was $183,939 and lease liability for this lease was $77,625. 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. As of February 29, 2024, the balance of ROU was $102,280 and the lease liability was $161,861. In February 2024, the Company signed a lease to rent the property at 1268 Church Street, Jacksonville, FL 32202, with 1268 Church Street LLC, a related party owned by the Company’s CEO. The lease commencement date is January 1, 2024 and the lease term is sixty months, and meanwhile the landlord offered a 50% discount for the prepayment of the lease. The Company made the prepayment for the lease by issuing a convertible promissory note and based on the criteria and according to ASC 842, the ROU was $101,760, equal to the amount of the prepayment. As of February 29, 2024, the balance of ROU was $98,368 and lease liability for this lease was $0. In February 2024, the Company signed a lease to rent the property at 2502 Blanding Blvd, Jacksonville, FL 32210, with 2600 Blanding Blvd LLC, a related party owned by the Company's CEO. The lease commencement date is January 1, 2024 and the lease term is sixty months, and meanwhile the landlord offered a 50% discount for the prepayment of the lease. The Company made the prepayment for the lease by issuing a convertible promissory note and based on the criteria and according to ASC 842, the ROU was $117,593, equal to the amount of the prepayment. As of February 29, 2024, the balance of ROU was $115,633 and lease liability for this lease was $0. 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. Subtenant is not entitled to exercise any options to extend or renew the term of the lease. The sub-lease is currently on a month-by-month term. The total lease expenses for the nine months ended February 29, 2024 were $102,264, including $20,625 recorded as cost of goods sold and $81,638 in general and administrative expenses in the statements of operations. The total lease expenses for the three months ended February 29, 2024 were $35,953, including $6,877 recorded as cost of goods sold and $29,076 in general and administrative expenses in the statements of operations. The following table summarizes the presentation in the Company’s balance sheet of its operating leases. As of February 29, 2024 As of May 31, 2023 Assets Right-of-Use $ 500,220 $ 312,748 Liabilities Lease liabilities - Short-term $ 188,648 $ 149,997 Lease liabilities - Long-term 50,838 206,959 Total operating lease liabilities $ 239,486 $ 356,956 Future minimum lease payments as of February 29, 2024: Lease commitments Mar 2024 - Feb 2025 $ 197,207 $ - Mar 2025 - Feb 2026 55,000 - Mar 2026 - Feb 2027 - - Total undiscounted lease payments 252,207 - Imputed interest (12,721) - Total operating lease liabilities $ 239,486 $ - |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) DISCLOSURE | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
STOCKHOLDERS' EQUITY (DEFICIT) DISCLOSURE | NOTE 10 - STOCKHOLDERS’ EQUITY Preferred Stock 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. The stock was transferred to Scott McAlister through a stock purchase agreement in May 2022. Common Stock On January 11, 2023, the Company issued 3,600,000 restricted shares of common stock at $0.04 per share to a consultant for services. The value of the 3,600,000 shares of common stock issued is $144,400, of which $114,000 has been earned as of February 29, 2024. In September 2023, the Company's CEO paid $20,000 to the Company for 2,000,000 shares of common stock at a price of $0.01 per share. |
SUBSEQUENT EVENTS DISCLOSURE
SUBSEQUENT EVENTS DISCLOSURE | 9 Months Ended |
Feb. 29, 2024 | |
Notes | |
SUBSEQUENT EVENTS DISCLOSURE | NOTE 11 - SUBSEQUENT EVENTS In accordance with FASB 165 (ASC 855), Subsequent Events, the Company has analyzed its operations subsequent to February 29, 2024 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basis of Accounting, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Basis of Accounting, Policy | Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, (GAAP). The Company’s year-end is May 31. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Use of Estimates, Policy | Use of Estimates The preparation of the unaudited financial statements in conformity with GAAP 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. |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Cash and Cash Equivalents, Policy | Cash and Cash Equivalents The Company considers all highly liquid investments with the original maturities of three months or less to be cash equivalents. The Company has $44 and $199 of cash and cash equivalents in its escrow account as of February 29, 2024 and May 31, 2023, respectively. The funds in the escrow account can be released for the Company’s operations without restriction. |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Property, Plant and Equipment, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Property, Plant and Equipment, Policy | Property and equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided over the assets’ estimated useful lives, using the straight-line method. Estimated useful lives of the property and equipment are as follows: Equipment, Furniture and Fixtures 5-10 years The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in 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. |
SUMMARY OF SIGNIFICANT ACCOUN_6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Leases Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Leases Policy | Leases The Company adheres to the accounting for leases under Accounting Standards Codification (ASC) 842 Lease Accounting ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present 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. |
SUMMARY OF SIGNIFICANT ACCOUN_7
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Inventory Impairment, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Inventory Impairment, Policy | 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 the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. During the three and nine months ended February 29, 2024 and February 28, 2023, the Company recognized an impairment of long-lived assets in the amount of $0. |
SUMMARY OF SIGNIFICANT ACCOUN_8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Fair Value of Financial Instruments, Policy | Fair Value of Financial Instruments ASC 820 Fair Value Measurements and Disclosures These tiers include: · · · The carrying value of the Company’s cash, other current assets, accounts payable, accrued expenses and advances from related parties approximates its fair value due to their short-term maturity. |
SUMMARY OF SIGNIFICANT ACCOUN_9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Income Tax, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Income Tax, Policy | Income Taxes The Company accounts for its income taxes in accordance with ASC 740, Income Taxes 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. |
SUMMARY OF SIGNIFICANT ACCOU_10
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Revenue Recognition Policy | Rent Revenue Recognition The Company recognizes rent revenue from the lease of its sub-leased properties in accordance with ASC 842, Leases The Company’s leases generally have fixed rental payments over the lease term, with occasional escalations based on predetermined factors. Rent revenue is recognized monthly as the lease fulfills its obligations under the lease agreement. Any lease incentives or concessions provided to lessees, such as rent-free periods or tenant improvement allowances, are recognized as a reduction of rent revenue over the lease term. For the three and nine months ended February 29, 2024, the Company recognized rent revenue of $7,500 and $22,500, respectively, from its lease agreement. This amount represents the portion of the total lease payments earned over the lease term. Rent revenue of $2,500 was recognized for the three and nine months ended February 28, 2023. |
SUMMARY OF SIGNIFICANT ACCOU_11
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cost of Goods Sold Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Cost of Goods Sold Policy | Cost of Goods Sold Cost of goods sold includes direct costs of selling items, direct labor cost, rent expense and electricity. |
SUMMARY OF SIGNIFICANT ACCOU_12
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Stock-Based Compensation Policy | Stock-Based Compensation The Company accounts for share-based compensation awards in accordance with ASC 718, “Compensation - Stock Compensation”. The cost of services received from employees and non-employees in exchange for awards of equity instruments is recognized in the statement of operations based on the estimated fair value of those awards on the grant date and amortized on a straight-line basis over the requisite service period or vesting period. The Company records forfeitures as they occur. |
SUMMARY OF SIGNIFICANT ACCOU_13
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Earnings Per Share, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Earnings Per Share, Policy | Basic Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260 Earnings per 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. Under the if-converted method, outstanding convertible instruments are assumed to be converted into common stock at the beginning of the period (or at the time of issuance, if later). As of February 29, 2024 and May 31, 2023, there were potentially dilutive debt or equity instruments issued or outstanding, see convertible notes details in Notes 7 & 8. |
SUMMARY OF SIGNIFICANT ACCOU_14
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Reclassification Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
Reclassification Policy | Reclassification Certain accounts from prior periods have been reclassified to conform to the current period presentation. |
SUMMARY OF SIGNIFICANT ACCOU_15
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: New Accounting Pronouncements, Policy (Policies) | 9 Months Ended |
Feb. 29, 2024 | |
Policies | |
New Accounting Pronouncements, Policy | Recent Accounting Pronouncements There have been no recent accounting pronouncements or changes in accounting pronouncements during the nine months ended February 29, 2024, that are of significance or potential significance to the Company. |
SUMMARY OF SIGNIFICANT ACCOU_16
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Property, Plant and Equipment, Policy: Schedule of Property and Equipment useful lives (Tables) | 9 Months Ended |
Feb. 29, 2024 | |
Tables/Schedules | |
Schedule of Property and Equipment useful lives | Equipment, Furniture and Fixtures 5-10 years |
Property and Equipment Disclo_2
Property and Equipment Disclosure: Schedule of Property and Equipment (Tables) | 9 Months Ended |
Feb. 29, 2024 | |
Tables/Schedules | |
Schedule of Property and Equipment | February 29, 2024 May 31, 2023 Office equipment $ 1,400 $ 1,400 Furniture 31,700 31,700 Accumulated depreciation (7,427) (4,244) $ 25,673 $ 28,856 |
Convertible Notes Payable Rel_2
Convertible Notes Payable Related Parties, Disclosure: Schedule of Maturities of Long-Term Debt (Tables) | 9 Months Ended |
Feb. 29, 2024 | |
Tables/Schedules | |
Schedule of Maturities of Long-Term Debt | Year ending Amount February 28, 2025 $ 0 February 28, 2026 0 February 28, 2027 135,000 February 28, 2028 187,852 February 28, 2029 219,354 Total $ 542,206 |
Operating Leases Disclosure_ Sc
Operating Leases Disclosure: Schedule of Operating Leases (Tables) | 9 Months Ended |
Feb. 29, 2024 | |
Tables/Schedules | |
Schedule of Operating Leases | As of February 29, 2024 As of May 31, 2023 Assets Right-of-Use $ 500,220 $ 312,748 Liabilities Lease liabilities - Short-term $ 188,648 $ 149,997 Lease liabilities - Long-term 50,838 206,959 Total operating lease liabilities $ 239,486 $ 356,956 Future minimum lease payments as of February 29, 2024: Lease commitments Mar 2024 - Feb 2025 $ 197,207 $ - Mar 2025 - Feb 2026 55,000 - Mar 2026 - Feb 2027 - - Total undiscounted lease payments 252,207 - Imputed interest (12,721) - Total operating lease liabilities $ 239,486 $ - |
SUMMARY OF SIGNIFICANT ACCOU_17
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents, Policy (Details) - USD ($) | Feb. 29, 2024 | May 31, 2023 |
Details | ||
Cash in Escrow Account | $ 44 | $ 199 |
SUMMARY OF SIGNIFICANT ACCOU_18
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Property, Plant and Equipment, Policy: Schedule of Property and Equipment useful lives (Details) | Feb. 29, 2024 |
Equipment, Furniture and fixtures | |
Estimated useful lives of the plant and equipment | 5 years |
SUMMARY OF SIGNIFICANT ACCOU_19
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Inventory Impairment, Policy (Details) | 9 Months Ended |
Feb. 29, 2024 USD ($) | |
Details | |
Impairment of long lived assets | $ 0 |
SUMMARY OF SIGNIFICANT ACCOU_20
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition Policy (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2024 | Feb. 28, 2023 | Feb. 29, 2024 | Feb. 28, 2023 | |
Revenue | $ 7,500 | $ 2,500 | $ 22,500 | $ 2,500 |
Rental Income | ||||
Revenue | $ 7,500 | $ 2,500 | $ 22,500 | $ 2,500 |
Property and Equipment Disclo_3
Property and Equipment Disclosure: Schedule of Property and Equipment (Details) - USD ($) | Feb. 29, 2024 | May 31, 2023 |
Accumulated depreciation, property and equipment | $ (7,427) | $ (4,244) |
Office Equipment | ||
Property and equipment, gross | 1,400 | 1,400 |
Furniture and Fixtures | ||
Property and equipment, gross | $ 31,700 | $ 31,700 |
Property and Equipment Disclo_4
Property and Equipment Disclosure (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Feb. 29, 2024 | Feb. 28, 2023 | Feb. 29, 2024 | Feb. 28, 2023 | |
Details | ||||
Depreciation | $ 1,061 | $ 1,061 | $ 3,183 | $ 3,183 |
Related Party Transactions Di_2
Related Party Transactions Disclosure (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Nov. 30, 2023 | Aug. 31, 2022 | Feb. 29, 2024 | Feb. 28, 2023 | May 31, 2023 | Nov. 30, 2022 | |
Proceeds from related party advances | $ 25,076 | $ 16,659 | ||||
Advances From Related Parties | 54,235 | $ 29,159 | $ 135,000 | |||
Contribution of assets | $ 33,100 | 0 | 33,100 | |||
Issuance of common stock, value | $ 20,000 | |||||
Issuance of common stock, shares | 2,000,000 | |||||
Current president | ||||||
Proceeds from related party advances | $ 25,076 | 113,320 | ||||
Majority Shareholder | ||||||
Contribution of assets | $ 33,100 |
CONVERTIBLE DEBT DISCLOSURE (De
CONVERTIBLE DEBT DISCLOSURE (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Feb. 28, 2023 | May 31, 2023 | May 31, 2022 | |
Serhii Cherniienko, April 2021 | |||
Amount of debt assumed | $ 60,000 | ||
Conversion price per share | $ 0.01 | ||
Beneficial conversion feature | $ 60,000 | ||
Amount of debt converted | $ 30,000 | ||
Noi Tech LLC, April 15 2021 | |||
Amount of debt assumed | 30,000 | ||
Conversion price per share | $ 0.01 | ||
Beneficial conversion feature | $ 30,000 | ||
Debt discount assigned | $ 10,000 |
Convertible Notes Payable Rel_3
Convertible Notes Payable Related Parties, Disclosure (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Feb. 29, 2024 | Feb. 28, 2023 | Feb. 29, 2024 | Feb. 28, 2023 | May 31, 2023 | |
Proceeds from convertible debt | $ 0 | $ 135,000 | |||
Interest expense related party | $ 5,113 | $ 4,050 | 13,348 | $ 4,725 | |
Accrued Interest Related Parties | $ 22,213 | $ 22,213 | $ 8,865 | ||
Chief Executive Officer | |||||
Conversion price per share | $ 0.04 | ||||
Proceeds from convertible debt | $ 135,000 | ||||
Interest rate of note | 12% | ||||
Prepayment Convertible Note with CEO, 10 N Newnan | |||||
Conversion price per share | $ 0.07 | ||||
Interest rate of note | 10% | 10% | |||
Proceeds from Issuance of Convertible Promissory Notes | $ 187,852 | ||||
Prepayment Convertible Note with CEO, 1268 Church St | |||||
Conversion price per share | $ 0.07 | ||||
Interest rate of note | 10% | 10% | |||
Proceeds from Issuance of Convertible Promissory Notes | $ 101,760 | ||||
Prepayment Convertible Note with CEO, 2502 Blanding Blvd | |||||
Conversion price per share | $ 0.07 | ||||
Interest rate of note | 10% | 10% | |||
Proceeds from Issuance of Convertible Promissory Notes | $ 117,593 | ||||
Okie LLC, May 2022 | |||||
Amount of debt assumed | $ 85,000 | ||||
Conversion price per share | $ 0.005 |
Convertible Notes Payable Rel_4
Convertible Notes Payable Related Parties, Disclosure: Schedule of Maturities of Long-Term Debt (Details) - USD ($) | Feb. 29, 2024 | May 31, 2023 |
Details | ||
Maturitiy of the long-term convertible notes, year 3 | $ 135,000 | |
Maturitiy of the long-term convertible notes, year 4 | 187,852 | |
Maturitiy of the long-term convertible notes, year 5 | 219,354 | |
Convertible Note Payable - Related Party (non current) | $ 542,206 | $ 135,000 |
Operating Leases Disclosure (De
Operating Leases Disclosure (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Feb. 29, 2024 | Feb. 29, 2024 | Feb. 28, 2023 | Feb. 29, 2024 | Feb. 28, 2023 | May 31, 2023 | |
Operating Leases Right of Use Assets | $ 500,220 | $ 500,220 | $ 500,220 | $ 312,748 | ||
Operating Lease Liabilities - total | 239,486 | 239,486 | 239,486 | $ 356,956 | ||
Lease expense | 35,953 | 102,264 | ||||
Cost of Revenues | 6,876 | $ 2,292 | 20,625 | $ 2,292 | ||
General and administrative expenses | 49,537 | $ 112,900 | 105,985 | $ 134,471 | ||
Lease to rent office | ||||||
Operating Leases Right of Use Assets | 183,939 | 183,939 | 183,939 | |||
Operating Lease Liabilities - total | 77,625 | 77,625 | 77,625 | |||
Lease to rent 2652 Blanding | ||||||
Operating Leases Right of Use Assets | 102,280 | 102,280 | 102,280 | |||
Operating Lease Liabilities - total | 161,861 | 161,861 | 161,861 | |||
Monthly rental payments | 5,000 | |||||
Lease to rent 1268 Church St | ||||||
Operating Leases Right of Use Assets | 98,368 | 98,368 | 98,368 | |||
Lease to rent 2502 Blanding Blvd | ||||||
Operating Leases Right of Use Assets | 115,633 | 115,633 | 115,633 | |||
Sublease to 2652 Blanding | ||||||
Monthly rental payments | $ 2,500 | |||||
Contingent rental income, annually | 30,000 | |||||
Lease expenses | ||||||
Cost of Revenues | 6,877 | 20,625 | ||||
General and administrative expenses | $ 29,076 | $ 81,638 |
Operating Leases Disclosure_ _2
Operating Leases Disclosure: Schedule of Operating Leases (Details) - USD ($) | 9 Months Ended | |
Feb. 29, 2024 | May 31, 2023 | |
Details | ||
Operating lease, gross | $ 500,220 | $ 312,748 |
Lease Liabilities - Short-term | 188,648 | 149,997 |
Operating Lease Liabilities - Long-term | 50,838 | 206,959 |
Operating Lease Liabilities - total | 239,486 | $ 356,956 |
Operating Lease Liabilities - First year | 197,207 | |
Operating Lease Liabilities - Second year | 55,000 | |
Operating Lease Liabilities - Third year | 0 | |
Operating Lease Liabilities - total payments due | 252,207 | |
Operating Lease Liabilities - imputed interest | $ 12,721 |
STOCKHOLDERS' EQUITY (DEFICIT_2
STOCKHOLDERS' EQUITY (DEFICIT) DISCLOSURE (Details) - USD ($) | 3 Months Ended | |||
Nov. 30, 2023 | Feb. 28, 2023 | Feb. 29, 2024 | May 31, 2023 | |
Details | ||||
Preferred shares outstanding | 5,000,000 | 5,000,000 | ||
Issuance of stock for services, shares | 3,600,000 | |||
Price per share | $ 0.01 | $ 0.04 | ||
Issuance of stock for services, value | $ 114,000 | |||
Issuance of common stock, value | $ 20,000 | |||
Issuance of common stock, shares | 2,000,000 |