SEC Info - Cannabis Suisse Corp. - ‘10-Q’ for 11/30/19

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Cannabis Suisse Corp. – ‘10-Q’ for 11/30/19 – ‘EX-101.INS’

On: Tuesday, 1/21/20, at 12:19pm ET · For: 11/30/19 · Accession #: 1680132-20-4 · File #: 333-213009

  As Of               Filer                 Filing    For·On·As Docs:Size

 1/21/20  Cannabis Suisse Corp.             10-Q       11/30/19   54:1.9M

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    234K 
 2: EX-31       Certification -- §302 - SOA'02                      HTML     22K 
 3: EX-32       Certification -- §906 - SOA'02                      HTML     17K 
32: R1          Document and Entity Information                     HTML     47K 
51: R2          Consolidated Balance Sheets (Unaudited)             HTML     88K 
43: R3          Consolidated Balance Sheets (Unaudited)             HTML     23K 
                (Parenthetical)                                                  
15: R4          Consolidated Statements of Operations and           HTML     63K 
                Comprehensive Loss (Unaudited)                                   
33: R5          Consolidated Statements of Changes in               HTML     30K 
                Stockholders' Equity (Deficit) (Unaudited)                       
52: R6          Consolidated Statements of Cash Flows (Unaudited)   HTML     64K 
44: R7          Organization and Nature of Business                 HTML     20K 
16: R8          Summary of Signifcant Accounting Policies           HTML     39K 
31: R9          Going Concern                                       HTML     19K 
48: R10         Business Combination                                HTML     39K 
39: R11         Property and Equipment                              HTML     35K 
14: R12         Commitments and Contingencies                       HTML     43K 
30: R13         Related Party Transactions                          HTML     20K 
47: R14         Common Stock                                        HTML     21K 
38: R15         Segments and Geographic Concentrations              HTML     35K 
13: R16         Income Taxes                                        HTML     38K 
29: R17         Subsequent Events                                   HTML     19K 
46: R18         Significant Accounting Policies (Policies)          HTML     39K 
40: R19         Summary of Signifcant Accounting Policies (Tables)  HTML     22K 
19: R20         Business Combination (Tables)                       HTML     37K 
24: R21         Property and Equipment (Tables)                     HTML     35K 
54: R22         Commitments and Contingencies (Tables)              HTML     38K 
37: R23         Segments and Geographic Concentrations (Tables)     HTML     39K 
18: R24         Income Taxes (Tables)                               HTML     37K 
23: R25         Summary of Signifcant Accounting Policies (Details  HTML     23K 
                Text)                                                            
53: R26         Business Combination (Details 1)                    HTML     53K 
36: R27         Business Combination (Details 2)                    HTML     27K 
20: R28         Business Combination (Details Text)                 HTML     20K 
22: R29         Property and Equipment (Details 1)                  HTML     31K 
25: R30         Property and Equipment (Details Text)               HTML     18K 
11: R31         Commitments and Contingencies (Details 1)           HTML     25K 
                (Unaudited)                                                      
41: R32         Commitments and Contingencies (Details 2)           HTML     22K 
                (Unaudited)                                                      
49: R33         Commitments and Contingencies (Details 3)           HTML     23K 
27: R34         Commitments and Contingencies (Details Text)        HTML     23K 
12: R35         Related Party Transactions (Details Text)           HTML     20K 
42: R36         Common Stock (Details Text)                         HTML     20K 
50: R37         Segments and Geographic Concentrations (Details 1)  HTML     22K 
28: R38         Segments and Geographic Concentrations (Details 2)  HTML     21K 
10: R39         Segments and Geographic Concentrations (Details 3)  HTML     21K 
21: R40         Income Taxes (Details 1)                            HTML     29K 
17: R41         Income Taxes (Details 2)                            HTML     25K 
34: R42         Income Taxes (Details Text)                         HTML     19K 
45: XML         IDEA XML File -- Filing Summary                      XML     94K 
26: EXCEL       IDEA Workbook of Financial Reports                  XLSX     42K 
 4: EX-101.INS  XBRL Instance -- none-20191130                       XML    425K 
 6: EX-101.CAL  XBRL Calculations -- none-20191130_cal               XML     25K 
 7: EX-101.DEF  XBRL Definitions -- none-20191130_def                XML     50K 
 8: EX-101.LAB  XBRL Labels -- none-20191130_lab                     XML    576K 
 9: EX-101.PRE  XBRL Presentations -- none-20191130_pre              XML    295K 
 5: EX-101.SCH  XBRL Schema -- none-20191130                         XSD     92K 
35: ZIP         XBRL Zipped Folder -- 0001680132-20-000004-xbrl      Zip     53K

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NOTE 2 – SUMMARY OF SIGNIFCANT ACCOUNTING POLICIES 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 six months ended November 30, 2019 are not necessarily indicative of the results to be expected for the year ending May 31, 2020. 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, 2019. Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, («GAAP»). The Company’s year-end is May 31. The consolidated financial statements include the accounts of the Company and its wholly - owned subsidiary Cannabis Suisse LLC. All significant inter-company accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of 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 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 had $26,871 and $84,181 of cash and cash equivalents as of November 30, 2019, and May 31, 2019, respectively. Inventories Inventories are stated at the lower of cost or market. Cost is principally determined using the FIFO method. The Company had $34,755 and $76,329 in inventory as of November 30, 2019, and May 31, 2019, respectively. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using the straight-line balance method over the estimated useful life of the assets. The Company estimates that the useful life of its equipment is five years and industrial water filter is seven years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. 9 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Impairment Potential impairments of long-lived assets are reviewed when events or changes in circumstances indicate a potential impairment may exist. In accordance with Accounting Standards Codification (ASC) 360 Property, Plant and Equipment impairment is determined when estimated future undiscounted cash flows associated with an asset are less than the asset’s carrying value. Fair Value of Financial Instruments ASC 820 Fair Value Measurements and Disclosures establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: <table style="border-collapse:collapse;width:485.1pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 1:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as observable inputs such as quoted prices in active markets;</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 2:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and</td></tr> <tr style="height:21.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 3:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.</td></tr></table> The carrying value of cash and the Company’s loan from shareholder 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, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases and tax credit, carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income 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. Revenue Recognition Revenue is recognized when a customer obtains control of promised goods of services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probably that the entity will collect the consideration it is entitled in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery. 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. As of November 30, 2019 and 2018, there were no potentially dilutive debt or equity instruments issued or outstanding. 10 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Foreign Currency Translation Assets and liabilities of the Company’s Swiss subsidiary are translated from Swiss francs to United States dollars at exchange rates in effect at the balance sheet date. Income and expenses are translated at average exchange rates during the year. The translation adjustments for the reporting period are included in the Company’s consolidated statements of operations and comprehensive loss, and the cumulative effect of these adjustments are reported in the Company’s consolidated balance sheets as accumulated other comprehensive loss within Stockholder’s Deficit. Recent Accounting Pronouncements In February 2016, Financial Accounting Standards Board (“the FASB”) issued ASU 2016-02 (Topic 842) Leases. Under this new guidance, lessees (including lessees under leases classified as finance leases, which are to be classified based on criteria similar to that applicable to capital leases under current guidance, and leases classified as operating leases) will recognize a right-to-use asset and a lease liability on the balance sheet, initially measured as the present value of lease payments under the lease. Under current guidance, operating leases are not recognized on the balance sheet. However, the new guidance permits companies to make an accounting policy election not to apply the recognition provisions of the new guidance to short term leases (leases with a lease term of 12 months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise). If this election is made, lease payments under short term leases will be recognized on a straight-line basis over the lease term. The Company adopted the new guidance effective June 1, 2019, using a modified retrospective method, under which it will record an immaterial cumulative adjustment to retained earnings rather than retrospectively adjusting prior periods. The Company also elected to adopt the policy not to apply the recognition provisions to short term leases. This application of the modified retrospective method will result in a balance sheet presentation that will not be comparable to the prior period in the first year of adoption. The Company does not expect the new standard to have a material impact on its results of operations or cash flows. Segments The Company's Chief Executive Officer allocates resources and assesses performance based on financial information of the Company. The CEO reviews financial information presented for each reporting segment for purposes of making operating decisions and assessing financial performance. Accordingly, the Company operates in two reportable segments as presented in Note 9.

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NOTE 4 - BUSINESS COMBINATION On May 31, 2019, Suneetha Nandana Silva Sudusinghe, the president of the Company and on behalf of the Company entered into a Stock Transfer Agreement with Cecillia Merige Jensen whereby the Company acquired all of the issued and outstanding capital stock of Cannabis Suisse LLC, a Wyoming limited liability company (“Subsidiary”). In exchange, Ms. Jensen has received 10,000,000 shares of common stock of the Company valued at $50,000. Mr. Sudusinghe’s share ownership in the Company was reduced from 17,400,000 to 7,400,000. 11 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The Subsidiary owns all of the capital stock of Grow Factory GmbH, a corporation incorporated in Zurich, Switzerland on March 13, 2017. Its office is located in Dietikon, Switzerland. Grow Factory is a fully licensed cannabis cultivation and distribution company in Switzerland for recreational tobacco products and medical CBD oils and commenced its operations on March 2018. Purchase Price Allocations Presented below is a summary of the purchase price allocations for the business combination: <table align="center" style="border-collapse:collapse;width:424pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Assets acquired:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> </td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Cash and Cash Equivalents</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 70,854</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Accounts Receivable</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 2,528</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Inventory</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 75,000</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> VAT Tax Receivable</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 368</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Prepaid Expenses</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 10,467</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Property and Equipment</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 83,253</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total identifiable assets acquired</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 242,470</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Liabilities assumed:</td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> </td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Accounts Payable</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 47,109</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Accrued Liabilities</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 7,414</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Advances from Related Parties</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 203,622</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total identifiable liabilities assumed </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 258,145</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Net identifiable assets acquired </td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> (15,675)</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Goodwill</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 65,675</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total purchase price allocation</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> $</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 50,000</td></tr></table> The Company assessed the fair value of the various net liabilities assumed based on internal documents. The $65,675 of goodwill currently recognized is deductible for income tax purposes over the next 15 years. The Company has not yet completed the initial accounting for the transaction; therefore, the fair value is provisional pending receipt of a final valuation. Pro Forma Disclosures The following unaudited pro forma financial results reflects the historical operating results of the Company, including the unaudited pro forma results of Grow Factory for the six months ended November 30, 2018, respectively, as if this business combination had occurred as of June 1, 2017. The pro forma financial information set forth below reflects adjustments to the historical data of the Company to give effect to each of these acquisitions and the related equity issuances as if each had occurred on June 1, 2017. The pro forma information presented below does not purport to represent what the actual results of operations would have been for the periods indicated, nor does it purport to represent the Company's future results of operations. The following table summarizes on an unaudited pro forma basis the Company's results of operations for the six months ended November 30, 2018: <table align="center" style="border-collapse:collapse;width:490.5pt;"> <tr style="height:10.6pt;"> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:396pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> 2018</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Net revenue</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> -</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Net loss</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> (38,200)</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Net loss per share - basic and diluted</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> (0.00)</td></tr> <tr style="height:10.8pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Weighted average number of shares of common stock outstanding - basic and diluted</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> 57,100,000</td></tr></table> 12 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The calculations of pro forma net revenue and pro forma net loss give effect to the business combination for the period from June 1, 2017 until the respective closing dates for (i) the historical net revenue and net income (loss), as applicable, of the acquired businesses, and (ii) incremental depreciation and amortization for the business combination based on the fair value of property, equipment and identifiable intangible assets acquired and the related estimated useful lives.

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NOTE 6 – COMMITMENTS AND CONTINGENCIES In 2016, the Company signed a rental agreement for office space in Sri Lanka which terminated on December 31, 2019. This premise was used as a representative office for the customers. The rent expense for each of the six months ended November 30, 2019, and 2018 was $720. The Company is currently negotiating a renewal of the lease agreement. In 2017, the Company’s Subsidiary signed a rental agreement for office space in Switzerland which will terminate on May 31, 2022. The rent expense for the six months ended November 30, 2019 was $35,315. The Company implemented a new accounting policy according to the ASC 842, Leases, on June 1, 2019 on a modified retrospective basis and did not restate comparative periods. Under the new policy, the Company recognized approximately $195,394 lease liability as well as right-of-use asset for all leases (with the exception of short-term leases) at the commencement date. Lease liabilities are measured at present value of the sum of remaining rental payments as of November 30, 2019, discounted at the incremental borrowing rate. A single lease cost is recognized over the lease term on a generally straight-line basis. All cash payments of operating lease cost are classified within operating activities in the statement of cash flows. As of November 30, 2019, and May 31, 2019, the right-of use asset and lease liabilities are as follows: <table style="border-collapse:collapse;"> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td colspan="2" valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:132.35pt;"> November 30, 2019</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td colspan="2" valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:129.6pt;"> May 31, 2019</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:114.05pt;"> (unaudited)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:111.3pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Right-of-use asset – operating leases</td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 173,041</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Lease Liabilities - Short-term</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 33,388</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Lease Liabilities - Long-term</td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 139,653</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Total Lease Liabilities </td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $ </td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 173,041</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr></table> 13 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Lease cost and other information <table style="border-collapse:collapse;width:486pt;"> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td colspan="5" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:270pt;"> Six months ended November 30,</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:130.5pt;"> 2019</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:126pt;"> 2018</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td colspan="2" valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:130.5pt;"> (unaudited)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td colspan="2" valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:126pt;"> (audited)</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> Operating lease cost</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> 34,465</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> 17,248 </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> Weighted average remaining lease term - Operating leases (years)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> 2.5</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> Weighted average discount rate</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> 3%</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> -</td></tr></table> Required future principal payments under the Company’s lease obligation are set for below: Year ending May 31 <table style="border-collapse:collapse;width:424pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> 2020 (remaining six months)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 40,200</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> 2021</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 79,752</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> 2022</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 79,752</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> $</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 199,704</td></tr></table>

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NOTE 10 – INCOME TAXES The Company adopted the provisions of uncertain tax positions as addressed in ASC 740-10-65-1. As a result of the implementation of ASC 740-10-65-1, the Company recognized no increase in the liability for unrecognized tax benefits. On December 22, 2017, Tax Cuts and Jobs Act (H.R. 1) (the “Act”) was signed into law in the United States. The Act includes a number of changes in existing tax law impacting businesses including, among other things, a permanent reduction in the corporate income tax rate from 34% to 21%. The rate reduction would take effect on January 1, 2018 The Company has no tax position at November 30, 2019 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The Company does not recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. No such interest or penalties were recognized during the period presented. The Company had no accruals for interest and penalties at November 30, 2019. The Company’s utilization of any net operating loss carry forward may be unlikely as a result of its intended activities. The valuation allowance at November 30, 2019 was $71,024. The net change in valuation allowance during the six months ended November 30, 2019 was $57,110. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred income tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. 15 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Based on consideration of these items, management has determined that enough uncertainty exists relative to the realization of the deferred income tax asset balances to warrant the application of a full valuation allowance as of November 30, 2019 and May 31, 2019. All tax years since inception remains open for examination only by taxing authorities of US Federal and state of Nevada. The Company has a net operating loss carryforward for tax purposes totaling $338,210 at November 30, 2019, expiring through fiscal year 2036. There is a limitation on the amount of taxable income that can be offset by carryforwards after a change in control (generally greater than a 50% change in ownership). The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the new statutory rate of 21% to the income tax amount recorded as of November 30, 2019 and May 31, 2019, are as follows: <table align="center" bgcolor="#ced7e7" style="border-bottom:#ffffff 1pt solid;border-collapse:collapse;border-left:#ffffff 1pt solid;border-right:#ffffff 1pt solid;border-top:#ffffff 1pt solid;width:486pt;"> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> </td> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="middle" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> November 30, 2019</td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="middle" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> May 31, 2019</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net operating loss carryforward</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> (338,210)</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> (66,254)</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Effective tax rate</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> 21 %</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> 21 %</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Deferred tax asset</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> 71,024</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> 13,914</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Less: Valuation allowance</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> (71,024)</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> (13,914)</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net deferred asset</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> -</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> -</td></tr></table> The change in the valuation allowance during the six months ended November 30, 2019 and May 31, 2019, was $55,648 and $4,774, respectively. <table bgcolor="#ced7e7" style="border-bottom:#ffffff 1pt solid;border-collapse:collapse;border-left:#ffffff 1pt solid;border-right:#ffffff 1pt solid;border-top:#ffffff 1pt solid;width:486pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> </td> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> November 30, 2019</td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> May 31, 2019</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Federal income tax benefit attributed to:</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> </td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> </td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net operating loss from continuing operations</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> 71,024</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> 13,914</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Valuation allowance</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> (71,024)</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> (13,914)</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net benefit</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> -</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> -</td></tr></table>

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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 six months ended November 30, 2019 are not necessarily indicative of the results to be expected for the year ending May 31, 2020. 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, 2019. Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, («GAAP»). The Company’s year-end is May 31. The consolidated financial statements include the accounts of the Company and its wholly - owned subsidiary Cannabis Suisse LLC. All significant inter-company accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of 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 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 had $26,871 and $84,181 of cash and cash equivalents as of November 30, 2019, and May 31, 2019, respectively. Inventories Inventories are stated at the lower of cost or market. Cost is principally determined using the FIFO method. The Company had $34,755 and $76,329 in inventory as of November 30, 2019, and May 31, 2019, respectively. Depreciation, Amortization, and Capitalization The Company records depreciation and amortization when appropriate using the straight-line balance method over the estimated useful life of the assets. The Company estimates that the useful life of its equipment is five years and industrial water filter is seven years. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriated accounts and the resultant gain or loss is included in net income. 9 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Impairment Potential impairments of long-lived assets are reviewed when events or changes in circumstances indicate a potential impairment may exist. In accordance with Accounting Standards Codification (ASC) 360 Property, Plant and Equipment impairment is determined when estimated future undiscounted cash flows associated with an asset are less than the asset’s carrying value. Fair Value of Financial Instruments ASC 820 Fair Value Measurements and Disclosures establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. These tiers include: <table style="border-collapse:collapse;width:485.1pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 1:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as observable inputs such as quoted prices in active markets;</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 2:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and</td></tr> <tr style="height:21.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 3:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.</td></tr></table> The carrying value of cash and the Company’s loan from shareholder 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, which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases and tax credit, carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income 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. Revenue Recognition Revenue is recognized when a customer obtains control of promised goods of services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the considerations that the Company expects to receive in exchange for those goods. The Company applies the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probably that the entity will collect the consideration it is entitled in exchange for the goods or services it transfers to the customer. Once a contract is determined to be within the scope of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company’s performance obligations are transferred to customers at a point in time, typically upon delivery. 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. As of November 30, 2019 and 2018, there were no potentially dilutive debt or equity instruments issued or outstanding. 10 CANNABIS SUISSE CORP. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Foreign Currency Translation Assets and liabilities of the Company’s Swiss subsidiary are translated from Swiss francs to United States dollars at exchange rates in effect at the balance sheet date. Income and expenses are translated at average exchange rates during the year. The translation adjustments for the reporting period are included in the Company’s consolidated statements of operations and comprehensive loss, and the cumulative effect of these adjustments are reported in the Company’s consolidated balance sheets as accumulated other comprehensive loss within Stockholder’s Deficit. Recent Accounting Pronouncements In February 2016, Financial Accounting Standards Board (“the FASB”) issued ASU 2016-02 (Topic 842) Leases. Under this new guidance, lessees (including lessees under leases classified as finance leases, which are to be classified based on criteria similar to that applicable to capital leases under current guidance, and leases classified as operating leases) will recognize a right-to-use asset and a lease liability on the balance sheet, initially measured as the present value of lease payments under the lease. Under current guidance, operating leases are not recognized on the balance sheet. However, the new guidance permits companies to make an accounting policy election not to apply the recognition provisions of the new guidance to short term leases (leases with a lease term of 12 months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise). If this election is made, lease payments under short term leases will be recognized on a straight-line basis over the lease term. The Company adopted the new guidance effective June 1, 2019, using a modified retrospective method, under which it will record an immaterial cumulative adjustment to retained earnings rather than retrospectively adjusting prior periods. The Company also elected to adopt the policy not to apply the recognition provisions to short term leases. This application of the modified retrospective method will result in a balance sheet presentation that will not be comparable to the prior period in the first year of adoption. The Company does not expect the new standard to have a material impact on its results of operations or cash flows. Segments The Company's Chief Executive Officer allocates resources and assesses performance based on financial information of the Company. The CEO reviews financial information presented for each reporting segment for purposes of making operating decisions and assessing financial performance. Accordingly, the Company operates in two reportable segments as presented in Note 9.

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These tiers include: <table style="border-collapse:collapse;width:485.1pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 1:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as observable inputs such as quoted prices in active markets;</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 2:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and</td></tr> <tr style="height:21.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:49.2pt;"> Level 3:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:435.9pt;"> defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.</td></tr></table>

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Presented below is a summary of the purchase price allocations for the business combination: <table align="center" style="border-collapse:collapse;width:424pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Assets acquired:</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> </td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Cash and Cash Equivalents</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 70,854</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Accounts Receivable</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 2,528</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Inventory</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 75,000</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> VAT Tax Receivable</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 368</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Prepaid Expenses</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 10,467</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Property and Equipment</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 83,253</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total identifiable assets acquired</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 242,470</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Liabilities assumed:</td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> </td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Accounts Payable</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 47,109</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Accrued Liabilities</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 7,414</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Advances from Related Parties</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 203,622</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total identifiable liabilities assumed </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 258,145</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Net identifiable assets acquired </td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> (15,675)</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Goodwill</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 65,675</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:338.5pt;"> Total purchase price allocation</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:19.1pt;"> $</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:66.4pt;"> 50,000</td></tr></table>

</us-gaap:BusinessAcquisitionProFormaInformationTextBlock>

<us-gaap:BusinessAcquisitionProFormaInformationNonrecurringAdjustmentsTableTextBlock contextRef="Context89">

The following unaudited pro forma financial results reflects the historical operating results of the Company, including the unaudited pro forma results of Grow Factory for the six months ended November 30, 2018, respectively, as if this business combination had occurred as of June 1, 2017. The pro forma financial information set forth below reflects adjustments to the historical data of the Company to give effect to each of these acquisitions and the related equity issuances as if each had occurred on June 1, 2017. The pro forma information presented below does not purport to represent what the actual results of operations would have been for the periods indicated, nor does it purport to represent the Company's future results of operations. The following table summarizes on an unaudited pro forma basis the Company's results of operations for the six months ended November 30, 2018: <table align="center" style="border-collapse:collapse;width:490.5pt;"> <tr style="height:10.6pt;"> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:396pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> 2018</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Net revenue</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> -</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Net loss</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> (38,200)</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Net loss per share - basic and diluted</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> (0.00)</td></tr> <tr style="height:10.8pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:378pt;"> Weighted average number of shares of common stock outstanding - basic and diluted</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:94.5pt;"> 57,100,000</td></tr></table>

</us-gaap:BusinessAcquisitionProFormaInformationNonrecurringAdjustmentsTableTextBlock>

<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="Context90">

</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>

<us-gaap:LeaseCostTableTextBlock contextRef="Context91">

As of November 30, 2019, and May 31, 2019, the right-of use asset and lease liabilities are as follows: <table style="border-collapse:collapse;"> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td colspan="2" valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:132.35pt;"> November 30, 2019</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td colspan="2" valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:129.6pt;"> May 31, 2019</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:114.05pt;"> (unaudited)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:111.3pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Right-of-use asset – operating leases</td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 173,041</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="border-bottom:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-top:#000000 3px double;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Lease Liabilities - Short-term</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 33,388</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Lease Liabilities - Long-term</td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 139,653</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="border-bottom:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:214.4pt;"> Total Lease Liabilities </td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $ </td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:114.05pt;"> 173,041</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:11.1pt;"> </td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="border-bottom:#000000 3px double;border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:111.3pt;"> -</td></tr></table>

</us-gaap:LeaseCostTableTextBlock>

<us-gaap:OtherIncomeAndOtherExpenseDisclosureTextBlock contextRef="Context91">

Lease cost and other information <table style="border-collapse:collapse;width:486pt;"> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td colspan="5" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:270pt;"> Six months ended November 30,</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:130.5pt;"> 2019</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:126pt;"> 2018</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td colspan="2" valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:130.5pt;"> (unaudited)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td colspan="2" valign="top" style="border-top:#000000 1.5pt solid;padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:126pt;"> (audited)</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> Operating lease cost</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> 34,465</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> 17,248 </td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> Weighted average remaining lease term - Operating leases (years)</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> 2.5</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> -</td></tr> <tr style="height:1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:216pt;"> Weighted average discount rate</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18.3pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:112.2pt;"> 3%</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:13.5pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:18pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;white-space:nowrap;width:108pt;"> -</td></tr></table>

</us-gaap:OtherIncomeAndOtherExpenseDisclosureTextBlock>

<us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock contextRef="Context92">

</us-gaap:ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock>

<us-gaap:ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock contextRef="Context92">

</us-gaap:ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock>

<us-gaap:SegmentReportingDisclosureTextBlock contextRef="Context92">

Assets by reporting segment as of November 30, 2019 and May 31, 2019, is as follows: <table style="border-collapse:collapse;width:378.35pt;"> <tr style="height:10.6pt;"> <td colspan="2" valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:209.65pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:77.6pt;"> November 30, 2019</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.05pt;"> </td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:72.05pt;"> May 31, 2019</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:191.9pt;"> Cannabis Suisse Corp</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:17.75pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:77.6pt;"> 74,943</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.05pt;"> $</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:72.05pt;"> 24,441</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:191.9pt;"> Cannabis Suisse LLC</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:17.75pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:77.6pt;"> 370,876</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.05pt;"> </td> <td valign="top" style="border-bottom:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:72.05pt;"> 308,145</td></tr> <tr style="height:11.6pt;"> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:191.9pt;"> Total Assets</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:17.75pt;"> $</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:77.6pt;"> 445,819</td> <td valign="top" style="padding-left:5.4pt;padding-right:5.4pt;width:19.05pt;"> $</td> <td valign="top" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-left:5.4pt;padding-right:5.4pt;width:72.05pt;"> 332,586</td></tr></table>

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<us-gaap:IncomeTaxPolicyTextBlock contextRef="Context93">

The components of the Company’s deferred tax asset and reconciliation of income taxes computed at the new statutory rate of 21% to the income tax amount recorded as of November 30, 2019 and May 31, 2019, are as follows: <table align="center" bgcolor="#ced7e7" style="border-bottom:#ffffff 1pt solid;border-collapse:collapse;border-left:#ffffff 1pt solid;border-right:#ffffff 1pt solid;border-top:#ffffff 1pt solid;width:486pt;"> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> </td> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="middle" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> November 30, 2019</td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="middle" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> May 31, 2019</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net operating loss carryforward</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="top" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> (338,210)</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> (66,254)</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Effective tax rate</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> 21 %</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> 21 %</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Deferred tax asset</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> 71,024</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> 13,914</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Less: Valuation allowance</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> (71,024)</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> (13,914)</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net deferred asset</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:100.3pt;"> -</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:95.45pt;"> -</td></tr></table>

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<us-gaap:SummaryOfValuationAllowanceTextBlock contextRef="Context93">

The change in the valuation allowance during the six months ended November 30, 2019 and May 31, 2019, was $55,648 and $4,774, respectively. <table bgcolor="#ced7e7" style="border-bottom:#ffffff 1pt solid;border-collapse:collapse;border-left:#ffffff 1pt solid;border-right:#ffffff 1pt solid;border-top:#ffffff 1pt solid;width:486pt;"> <tr style="height:10.6pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> </td> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> November 30, 2019</td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="middle" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> May 31, 2019</td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Federal income tax benefit attributed to:</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> </td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> </td></tr> <tr style="height:10.6pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net operating loss from continuing operations</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> 71,024</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> 13,914</td></tr> <tr style="height:10.85pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Valuation allowance</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> (71,024)</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> </td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> (13,914)</td></tr> <tr style="height:11.1pt;"> <td valign="top" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:247.5pt;"> Net benefit</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:15.75pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:101.25pt;"> -</td> <td valign="bottom" style="padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:27pt;"> $</td> <td valign="bottom" style="border-bottom:#000000 0.5pt solid;border-top:#000000 0.5pt solid;padding-bottom:4pt;padding-left:4pt;padding-right:4pt;padding-top:4pt;width:94.5pt;"> -</td></tr></table>

</us-gaap:SummaryOfValuationAllowanceTextBlock>

<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="Context3" unitRef="Unit2" decimals="0"> 26871 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>

<us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents contextRef="Context4" unitRef="Unit2" decimals="0"> 84181 </us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents>

<us-gaap:InventoryPartsAndComponentsNetOfReserves contextRef="Context3" unitRef="Unit2" decimals="0"> 34755 </us-gaap:InventoryPartsAndComponentsNetOfReserves>

<us-gaap:InventoryPartsAndComponentsNetOfReserves contextRef="Context4" unitRef="Unit2" decimals="0"> 76329 </us-gaap:InventoryPartsAndComponentsNetOfReserves>

<us-gaap:CashCashEquivalentsAndShortTermInvestments contextRef="Context3" unitRef="Unit2" decimals="0"> 70854 </us-gaap:CashCashEquivalentsAndShortTermInvestments>

<us-gaap:AccountsReceivableNetNoncurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 2528 </us-gaap:AccountsReceivableNetNoncurrent>

<us-gaap:InventoryOperativeBuilders contextRef="Context3" unitRef="Unit2" decimals="0"> 75000 </us-gaap:InventoryOperativeBuilders>

<us-gaap:IncomeTaxesReceivableNoncurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 368 </us-gaap:IncomeTaxesReceivableNoncurrent>

<us-gaap:OtherPrepaidExpenseCurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 10467 </us-gaap:OtherPrepaidExpenseCurrent>

<us-gaap:PropertyPlantAndEquipmentGross contextRef="Context3" unitRef="Unit2" decimals="0"> 83253 </us-gaap:PropertyPlantAndEquipmentGross>

<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther contextRef="Context3" unitRef="Unit2" decimals="0"> 242470 </us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther>

<us-gaap:AccountsPayableCurrentAndNoncurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 47109 </us-gaap:AccountsPayableCurrentAndNoncurrent>

<us-gaap:OtherAccruedLiabilitiesCurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 7414 </us-gaap:OtherAccruedLiabilitiesCurrent>

<none:AdvancesFromRelatedParties contextRef="Context3" unitRef="Unit2" decimals="0"> 203622 </none:AdvancesFromRelatedParties>

<none:TotalIdentifiableLiabilitiesAssumed contextRef="Context3" unitRef="Unit2" decimals="0"> 258145 </none:TotalIdentifiableLiabilitiesAssumed>

<us-gaap:FiniteLivedIntangibleAssetsNet contextRef="Context3" unitRef="Unit2" decimals="0"> -15675 </us-gaap:FiniteLivedIntangibleAssetsNet>

<none:GoodwillDetails contextRef="Context3" unitRef="Unit2" decimals="0"> 65675 </none:GoodwillDetails>

<none:TotalPurchasePriceAllocation contextRef="Context3" unitRef="Unit2" decimals="0"> 50000 </none:TotalPurchasePriceAllocation>

<us-gaap:NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax contextRef="Context94" unitRef="Unit5" decimals="0"> -38200 </us-gaap:NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax>

<us-gaap:EarningsPerShareBasic contextRef="Context94" unitRef="Unit5" decimals="2"> -0.00 </us-gaap:EarningsPerShareBasic>

<us-gaap:WeightedAverageNumberOfSharesIssuedBasic contextRef="Context94" unitRef="Unit4" decimals="0"> 57100000 </us-gaap:WeightedAverageNumberOfSharesIssuedBasic>

<us-gaap:TreasuryStockCommonShares contextRef="Context4" unitRef="Unit4" decimals="0"> 50000 </us-gaap:TreasuryStockCommonShares>

<none:TheOfGoodwillCurrentlyRecognizedIsDeductibleForIncomeTax contextRef="Context4" unitRef="Unit2" decimals="0"> 65675 </none:TheOfGoodwillCurrentlyRecognizedIsDeductibleForIncomeTax>

<us-gaap:MachineryAndEquipmentGross contextRef="Context3" unitRef="Unit2" decimals="0"> 58778 </us-gaap:MachineryAndEquipmentGross>

<us-gaap:MachineryAndEquipmentGross contextRef="Context4" unitRef="Unit2" decimals="0"> 58778 </us-gaap:MachineryAndEquipmentGross>

<us-gaap:FurnitureAndFixturesGross contextRef="Context3" unitRef="Unit2" decimals="0"> 31881 </us-gaap:FurnitureAndFixturesGross>

<us-gaap:FurnitureAndFixturesGross contextRef="Context4" unitRef="Unit2" decimals="0"> 31881 </us-gaap:FurnitureAndFixturesGross>

<us-gaap:FixturesAndEquipmentGross contextRef="Context3" unitRef="Unit2" decimals="0"> 9044 </us-gaap:FixturesAndEquipmentGross>

<us-gaap:FixturesAndEquipmentGross contextRef="Context4" unitRef="Unit2" decimals="0"> 9044 </us-gaap:FixturesAndEquipmentGross>

<us-gaap:LeaseholdImprovementsGross contextRef="Context3" unitRef="Unit2" decimals="0"> 8354 </us-gaap:LeaseholdImprovementsGross>

<us-gaap:LeaseholdImprovementsGross contextRef="Context4" unitRef="Unit2" decimals="0"> 8354 </us-gaap:LeaseholdImprovementsGross>

<none:DepreciationDetails contextRef="Context3" unitRef="Unit2" decimals="0"> -23342 </none:DepreciationDetails>

<none:DepreciationDetails contextRef="Context4" unitRef="Unit2" decimals="0"> -15019 </none:DepreciationDetails>

<us-gaap:PropertyPlantAndEquipmentNet contextRef="Context3" unitRef="Unit2" decimals="0"> 84715 </us-gaap:PropertyPlantAndEquipmentNet>

<us-gaap:PropertyPlantAndEquipmentNet contextRef="Context4" unitRef="Unit2" decimals="0"> 93038 </us-gaap:PropertyPlantAndEquipmentNet>

<us-gaap:DepreciationAmortizationAndAccretionNet contextRef="Context95" unitRef="Unit2" decimals="0"> 8323 </us-gaap:DepreciationAmortizationAndAccretionNet>

<us-gaap:DepreciationAmortizationAndAccretionNet contextRef="Context96" unitRef="Unit2" decimals="0"> 3448 </us-gaap:DepreciationAmortizationAndAccretionNet>

<none:RightofuseAssetOperatingLeases contextRef="Context3" unitRef="Unit2" decimals="0"> 173041 </none:RightofuseAssetOperatingLeases>

<none:RightofuseAssetOperatingLeases contextRef="Context4" unitRef="Unit2" decimals="0"> 0 </none:RightofuseAssetOperatingLeases>

<none:TotalLeaseLiabilities contextRef="Context3" unitRef="Unit2" decimals="0"> 173041 </none:TotalLeaseLiabilities>

<none:TotalLeaseLiabilities contextRef="Context4" unitRef="Unit2" decimals="0"> 0 </none:TotalLeaseLiabilities>

<us-gaap:OperatingCostsAndExpenses contextRef="Context1" unitRef="Unit2" decimals="0"> 34465 </us-gaap:OperatingCostsAndExpenses>

<us-gaap:OperatingCostsAndExpenses contextRef="Context7" unitRef="Unit2" decimals="0"> 17248 </us-gaap:OperatingCostsAndExpenses>

<us-gaap:LesseeFinanceLeaseLeaseNotYetCommencedDescription contextRef="Context1"> 2.5 </us-gaap:LesseeFinanceLeaseLeaseNotYetCommencedDescription>

<none:WeightedAverageDiscountRate contextRef="Context1" unitRef="Unit2" decimals="0"> 3 </none:WeightedAverageDiscountRate>

<none:leaseobligation2020 contextRef="Context97" unitRef="Unit2" decimals="0"> 40200 </none:leaseobligation2020>

<none:LeaseObligation2021 contextRef="Context97" unitRef="Unit2" decimals="0"> 79752 </none:LeaseObligation2021>

<none:LeaseObligation2022 contextRef="Context97" unitRef="Unit2" decimals="0"> 79752 </none:LeaseObligation2022>

<us-gaap:LeaseIncome contextRef="Context97" unitRef="Unit2" decimals="0"> 199704 </us-gaap:LeaseIncome>

<us-gaap:OperatingLeasesRentExpenseContingentRentals contextRef="Context98" unitRef="Unit2" decimals="0"> 720 </us-gaap:OperatingLeasesRentExpenseContingentRentals>

<us-gaap:OperatingLeasesRentExpenseContingentRentals contextRef="Context99" unitRef="Unit2" decimals="0"> 720 </us-gaap:OperatingLeasesRentExpenseContingentRentals>

<us-gaap:OperatingLeasesRentExpenseNet contextRef="Context98" unitRef="Unit2" decimals="0"> 35315 </us-gaap:OperatingLeasesRentExpenseNet>

<us-gaap:AccountsPayableAndAccruedLiabilitiesFairValueDisclosure contextRef="Context4" unitRef="Unit2" decimals="0"> 54500 </us-gaap:AccountsPayableAndAccruedLiabilitiesFairValueDisclosure>

<us-gaap:AccountsPayableAndAccruedLiabilitiesFairValueDisclosure contextRef="Context3" unitRef="Unit2" decimals="0"> 49458 </us-gaap:AccountsPayableAndAccruedLiabilitiesFairValueDisclosure>

<us-gaap:RelatedPartyDepositLiabilities contextRef="Context4" unitRef="Unit2" decimals="0"> 203622 </us-gaap:RelatedPartyDepositLiabilities>

<us-gaap:RelatedPartyDepositLiabilities contextRef="Context3" unitRef="Unit2" decimals="0"> 339661 </us-gaap:RelatedPartyDepositLiabilities>

<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized contextRef="Context100" unitRef="Unit4" decimals="0"> 250000000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized>

<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationForfeited contextRef="Context101" unitRef="Unit4" decimals="0"> 32600000 </us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensationForfeited>

<us-gaap:IncreaseDecreaseInLongTermReceivablesCurrent contextRef="Context102" unitRef="Unit2" decimals="0"> 1066 </us-gaap:IncreaseDecreaseInLongTermReceivablesCurrent>

<us-gaap:IncreaseDecreaseInLongTermReceivablesCurrent contextRef="Context103" unitRef="Unit2" decimals="0"> 0 </us-gaap:IncreaseDecreaseInLongTermReceivablesCurrent>

<us-gaap:IncreaseDecreaseInRetainagePayable contextRef="Context102" unitRef="Unit2" decimals="0"> 105376 </us-gaap:IncreaseDecreaseInRetainagePayable>

<us-gaap:RegulatedAndUnregulatedOperatingRevenue contextRef="Context102" unitRef="Unit2" decimals="0"> 106442 </us-gaap:RegulatedAndUnregulatedOperatingRevenue>

<us-gaap:RegulatedAndUnregulatedOperatingRevenue contextRef="Context103" unitRef="Unit2" decimals="0"> 0 </us-gaap:RegulatedAndUnregulatedOperatingRevenue>

<none:CannabisSuisseCorp contextRef="Context3" unitRef="Unit2" decimals="0"> -263 </none:CannabisSuisseCorp>

<none:CannabisSuisseCorp contextRef="Context48" unitRef="Unit2" decimals="0"> 0 </none:CannabisSuisseCorp>

<none:CannabisSuisseLlc contextRef="Context3" unitRef="Unit2" decimals="0"> 65131 </none:CannabisSuisseLlc>

<none:TotalGrossProfit contextRef="Context3" unitRef="Unit2" decimals="0"> 64868 </none:TotalGrossProfit>

<none:TotalGrossProfit contextRef="Context48" unitRef="Unit2" decimals="0"> 0 </none:TotalGrossProfit>

<none:CannabisSuisseCorpAssets contextRef="Context3" unitRef="Unit2" decimals="0"> 74943 </none:CannabisSuisseCorpAssets>

<none:CannabisSuisseCorpAssets contextRef="Context4" unitRef="Unit2" decimals="0"> 24441 </none:CannabisSuisseCorpAssets>

<none:CannabisSuisseLLCassets contextRef="Context3" unitRef="Unit2" decimals="0"> 370876 </none:CannabisSuisseLLCassets>

<none:CannabisSuisseLLCassets contextRef="Context4" unitRef="Unit2" decimals="0"> 308145 </none:CannabisSuisseLLCassets>

<none:TotalAssets contextRef="Context3" unitRef="Unit2" decimals="0"> 445819 </none:TotalAssets>

<none:TotalAssets contextRef="Context4" unitRef="Unit2" decimals="0"> 332586 </none:TotalAssets>

<none:NetOperatingLossCarryforward contextRef="Context3" unitRef="Unit2" decimals="0"> -338210 </none:NetOperatingLossCarryforward>

<none:NetOperatingLossCarryforward contextRef="Context4" unitRef="Unit2" decimals="0"> -66254 </none:NetOperatingLossCarryforward>

<us-gaap:TaxesPayableCurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 21 </us-gaap:TaxesPayableCurrent>

<us-gaap:TaxesPayableCurrent contextRef="Context4" unitRef="Unit2" decimals="0"> 21 </us-gaap:TaxesPayableCurrent>

<us-gaap:DeferredTaxAssetsNetCurrent contextRef="Context3" unitRef="Unit2" decimals="0"> 71024 </us-gaap:DeferredTaxAssetsNetCurrent>

<us-gaap:DeferredTaxAssetsNetCurrent contextRef="Context4" unitRef="Unit2" decimals="0"> 13914 </us-gaap:DeferredTaxAssetsNetCurrent>

<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="Context3" unitRef="Unit2" decimals="0"> -71024 </us-gaap:DeferredTaxAssetsValuationAllowance>

<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="Context4" unitRef="Unit2" decimals="0"> -13914 </us-gaap:DeferredTaxAssetsValuationAllowance>

<us-gaap:DeferredTaxAssetsNet contextRef="Context3" unitRef="Unit2" decimals="0"> 0 </us-gaap:DeferredTaxAssetsNet>

<us-gaap:DeferredTaxAssetsNet contextRef="Context4" unitRef="Unit2" decimals="0"> 0 </us-gaap:DeferredTaxAssetsNet>

<us-gaap:IncomeLossFromContinuingOperations contextRef="Context104" unitRef="Unit2" decimals="0"> 71024 </us-gaap:IncomeLossFromContinuingOperations>

<us-gaap:IncomeLossFromContinuingOperations contextRef="Context105" unitRef="Unit2" decimals="0"> 13914 </us-gaap:IncomeLossFromContinuingOperations>

<us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount contextRef="Context104" unitRef="Unit2" decimals="0"> -71024 </us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount>

<us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount contextRef="Context105" unitRef="Unit2" decimals="0"> -13914 </us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount>

<us-gaap:OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax contextRef="Context104" unitRef="Unit2" decimals="0"> 0 </us-gaap:OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax>

<us-gaap:OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax contextRef="Context105" unitRef="Unit2" decimals="0"> 0 </us-gaap:OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax>

<none:TheValuationAllowanceNovember2019Was contextRef="Context3" unitRef="Unit2" decimals="0"> 71024 </none:TheValuationAllowanceNovember2019Was>

<none:TheCompanyHasNetOperatingLossCarryforwardForTax contextRef="Context3" unitRef="Unit2" decimals="0"> 338210 </none:TheCompanyHasNetOperatingLossCarryforwardForTax>

</xbrl>

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Filing Submission 0001680132-20-000004 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Cannabis Suisse Corp. – ‘10-Q’ for 11/30/19 – ‘EX-101.INS’

On: Tuesday, 1/21/20, at 12:19pm ET · For: 11/30/19 · Accession #: 1680132-20-4 · File #: 333-213009

Previous ‘10-Q’: ‘10-Q’ on 12/3/19 for 8/31/19 · Next: ‘10-Q’ on 6/3/20 for 2/29/20 · Latest: ‘10-Q’ on 4/12/24 for 2/29/24

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘EX-101.INS’ — XBRL Instance — none-20191130

This Exhibit is an XBRL XML File.

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents