Cannabis Suisse Corp. Swings to Net Income, but Faces Going Concern Warning
Cannabis Suisse Corp. reported a net income of $122,739 for the fiscal year ended May 31, 2026, a substantial turnaround from a net loss of $456,142 in the previous year. This improvement was largely driven by a significant increase in 'Other Income' due to the absence of a large debt settlement loss recorded in the prior year. However, the company's core rental operations generated a gross loss of $931 for the year, with rental revenue of $21,000. Despite the net income, the company's financial position remains precarious, with a substantial working capital deficit and a 'going concern' warning from its auditors, highlighting its dependence on related-party funding and the need for additional capital to continue operations.
Key Highlights
- Cannabis Suisse Corp. reported a net income of $122,739 for the year ended May 31, 2026, a significant improvement from a net loss of $456,142 in the prior year.
- Rental revenue for the year ended May 31, 2026, was $21,000, with a gross loss of $931.
- Total operating expenses decreased by 7% to $266,888 for the year ended May 31, 2026, compared to $288,445 in the prior year.
- The company's cash balance decreased to $476 as of May 31, 2026, from $2,850 in the prior year.
- A 'going concern' opinion was issued by the auditor due to recurring losses and a net capital deficiency, raising substantial doubt about the company's ability to continue as an ongoing enterprise.
- The company has no employees and relies on its CEO for operations and funding, with significant related-party debt and advances.
Price Impact