CANNABIS SUISSE CORP. 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.
As of
The following discussion should be read in conjunction with our financial
statements, including the notes thereto, appearing elsewhere in this Annual
Report. The following discussion contains forward-looking statements that
reflect our plans, estimates and beliefs. Our actual results could differ
materially from those discussed in the forward-looking statements. Our audited
financial statements are stated in
Results of Operations for the years ended
Revenue
For the year ended
For the year ended
The decrease in revenues and cost of goods sold is a result of the separation of
Operating expenses
Total operating expenses for the year ended
--------------------------------------------------------------------------------
3
--------------------------------------------------------------------------------
Total operating expenses for the year ended
The decrease in operating expenses is related to the decrease of general and
administrative expenses due to significant reduction of business activities in
the year ended
Changes in Fair Value of Derivatives
The gain in fair value of derivatives for the years ended
Net Loss
The net loss for the years ended
Comprehensive Loss
The comprehensive loss for the years ended
Liquidity and Capital Resources and Cash Requirements
As of
During the year ended
During the year ended
During the years ended
During the year ended
During the year ended
Our auditors have 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 during the period were investments by others, selling our products and loans from our director.
Off-Balance Sheet Arrangements
The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
--------------------------------------------------------------------------------
4
--------------------------------------------------------------------------------
Related Party Transactions
The Company's then CEO had agreed to provide interest free advances, due on
demand, to the Company up to
The Company also owed the former shareholder, then CEO, compensation for his
services as CEO. The Company accrued
In
Pro forma Balance Sheets Before and After Asset Contributions
Before After
Description of Line Items Contribution Contribution Contribution
Assets
Current assets $ - $ - $ -
Property and Equipment - net - 33,100 33,100
Total Assets - 33,100 33,100
Liabilities & Stockholders' Deficit
Convertible notes payable 135,000 - $ 135,000
Other Liabilities 139,092 - 139,092
Total liabilities 274,092 - 274,092
Commitments and Contingencies
Stockholders' Deficit Preferred stock, par:$0.001 , 20,00,000 Shares authorized, 5,000,000 issued And outstanding 5,000 - 5,000 Common stock, par:$0.001 ; 250,000,000 Shares authorized, 40,654,938 issued And outstanding 40,655 - 40,655 Additional paid-in-capital 742,997 33,100 776,097 Accumulated deficit (1,062,744) - (1,062,744) Total stockholders' deficit (274,092) 33,100 (240,992) Total Liabilities & Stockholders' Deficit $ -$ 33,100 $ 33,100
In
In
--------------------------------------------------------------------------------
5
--------------------------------------------------------------------------------
In
The leases signed inFebruary 2023 had a significant impact on the Company's balance sheet. Here are the balance sheets shown before and after signing the leases: Balance Sheets Before and After Leases Before Leases After ASSETS Current Assets 1050 Cash - Escrow Account 38,339 - 38,339 Total Current Assets 38,339 - 38,339 Property and Equipment 30,978 - 30,978 Operating Leases Right of Use Assets - 330,591 330,591 TOTAL ASSETS 69,317 330,591 399,908 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 23,562 - 23,562 Accrued Expenses 675 - 675 Advances from Related Parties 1,209 - 1,209 Convertible Notes Payable 135,000 - 135,000 Lease liabilities - Short-term - 93,920 93,920 Total Current Liabilities 160,446 93,920 254,366 Convertible Notes Payable - Related Party 135,000 - 135,000 Lease liabilities - Long-term 236,671 236,671 Total Liabilities 295,446 330,591 626,037
Commitments and Contingencies
Stockholders' Deficit
Preferred stock, par value $0.001 ;
20,000,000 shares
authorized, 5,000,000 shares issued and
outstanding 5,000 - 5,000
Common stock, par value $0.001 ;
250,000,000 shares
authorized, 40,654,938 shares issued
and outstanding 40,655 - 40,655
Additional Paid-In-Capital 915,189 - 915,189
Accumulated Deficit (1,186,973) - (1,186,973)
Total Stockholders' Deficit (226,129) - (226,129)
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT 69,317 330,591 399,908
Critical Accounting Policies
The preparation of financial statements in accordance with accounting principles
generally accepted in
© Edgar Online, source
