Cannabis Suisse Corp. Reports Net Income of $122,739 for Fiscal Year Ending May 31, 2026

Cannabis Suisse Corp. has reported its financial results for the fiscal year ending May 31, 2026, revealing a net income of $122,739, a significant turnaround from a net loss of $456,142 in the previous fiscal year. The company generated rental revenue of $21,000 from related parties, a decrease of approximately 7% from the $22,500 reported in the prior year. The cost of rental revenue was $21,931, resulting in a gross loss of $931, compared to a gross profit of $432 in the previous year. The decline in rental revenue was primarily due to the termination of a sublease in February 2025, which had contributed to revenue for nine months in the prior fiscal year.

In terms of operational changes, Cannabis Suisse Corp. has shifted its focus entirely to real estate operations since June 2022, having no involvement in the cannabis industry. The company has entered into several lease agreements with entities controlled by its CEO, Scott McAlister, including a new sublease arrangement effective March 1, 2026, which generated rental income of $21,000 during the reporting period. The company currently has no employees, with McAlister serving as the sole officer and director on a part-time consulting basis.

The company's total operating expenses decreased to $266,888 for the year ended May 31, 2026, down from $288,445 in the previous year. This reduction was attributed to lower general and administrative expenses, primarily due to a decrease in rent expense following the expiration of one of its leases. The company reported a working capital deficit of $512,212 as of May 31, 2026, compared to $218,679 the previous year, largely due to the reclassification of a related-party convertible note from long-term to current liabilities.

Despite the reported net income, the company faces significant liquidity challenges, with cash on hand of only $476 as of May 31, 2026. The company has indicated substantial doubt about its ability to continue as a going concern without additional capital. Management plans to seek further financing through capital markets and related-party funding to sustain operations. The company has also noted that it does not maintain a bank account and relies on its CEO for funding operational expenses through an escrow account.

Looking ahead, Cannabis Suisse Corp. anticipates continued reliance on related-party funding and external capital to support its operations. The company has expressed uncertainty regarding its ability to secure sufficient financing or achieve sustained profitable operations, which could adversely affect its business continuity. The financial statements reflect these concerns, as they do not include adjustments that might be necessary should the company be unable to continue as a going concern.