Cannabis Bioscience Reports Revenue Decline and Increased Net Losses for Quarter Ending February 28, 2026

Cannabis Bioscience International Holdings, Inc. reported its financial results for the quarter ending February 28, 2026, revealing a decline in revenue and an increase in net losses compared to the same period last year. The company generated revenues of $11,205, a decrease of 25% from $14,931 in the prior year. For the nine-month period, revenues fell to $88,671 from $268,066, primarily due to a reduction in clinical trial contracts. The cost of revenues also decreased significantly, leading to a gross profit of $8,160, compared to a gross loss of $4,465 in the previous year.

The company's total operating expenses for the quarter were $101,419, down from $124,769 a year earlier, largely due to a reduction in general and administrative expenses, which fell by $23,344. Despite the decrease in expenses, the company reported an operating loss of $93,259, an improvement from the loss of $129,234 in the same quarter of the previous year. The net loss for the quarter was $103,933, compared to a net loss of $181,243 in the prior year, indicating a narrowing of losses.

In terms of financial position, Cannabis Bioscience reported total current assets of $1,544, a significant drop from $31,880 as of May 31, 2025. The company’s current liabilities increased to $1,219,174 from $945,963, resulting in a working capital deficit of $1,217,630. The accumulated deficit also grew to $6,186,448 from $5,882,901. The company had cash and cash equivalents of only $90 at the end of the reporting period, down from $12,952, raising concerns about its liquidity and ability to sustain operations.

Strategically, the company continues to focus on its core operations, which include clinical trials, cannabis-related education, and the sale of CBD products. However, it faces challenges in expanding its operations and raising necessary capital. The company has indicated that its ability to continue as a going concern is dependent on successfully executing its operating plan and obtaining additional financing. The management has expressed uncertainty regarding its ability to secure sufficient capital, which could significantly impact its operations.

Looking ahead, Cannabis Bioscience International Holdings, Inc. aims to enhance its service offerings and expand its market presence. However, the company acknowledges the risks associated with its financial condition and the need for substantial capital to fund its business and repay debts. The management's outlook remains cautious, emphasizing the importance of strategic decisions in navigating the current market conditions and achieving future growth.