Cannabis Bioscience International Holdings, Inc.

What they do

The company operates three businesses: Alpha Research Institute conducts clinical trials (as a Sponsor and CRO), Pharmacology University provides cannabis-related education and consulting, and the CBD Business plans to manufacture and sell CBD products under the name 'VitaCookies'. It also holds an intellectual property portfolio of over 100 medical formulations and has filed 10 U.S. utility patent applications.

Revenue drivers

• Clinical trial contracts (Alpha Research Institute) — Primary revenue source; revenue fell $42,061 in the quarter ended February 28, 2026 due to fewer contracts, with quarterly revenue of $11,205.
• Cannabis education (Pharmacology University) — Provides education, consulting, digital publishing, and marketing related to medical cannabis; contributes to revenue but size not separately disclosed.
• CBD products (VitaCookies) — Planned but not yet generating significant revenue; the company 'plans to manufacture, market and sell' these products.

Recent performance

Revenue for the quarter ended February 28, 2026 was $11,205, down from $14,931 in the prior-year quarter, primarily due to fewer clinical trial contracts. Gross profit was $8,160, versus a gross loss of $(4,465) a year earlier, reflecting lower cost of revenues. Operating expenses decreased to $101,419 from $124,769, and net loss narrowed to $(103,933) from $(181,243). For fiscal 2025, annual revenue was $303,022 with a net loss of $(548,820). Cash and equivalents were $90 as of February 28, 2026.

Strategy

The company plans to increase sales of existing services and introduce new services, while also seeking debt or equity financing to fund operations and repay debts. It intends to participate in the DEA's rescheduling hearings when they resume, supporting medical cannabis regulation. Management also plans to file 10 additional utility patents and leverage its intellectual property of medical formulations.

Risks

• Going concern — Auditors have expressed substantial doubt about the company's ability to continue, given recurring losses, negative cash flow, and a $1.5 million deficit in shareholder equity.
• Liquidity crunch — Only $90 in cash as of February 28, 2026, against $1.5 million in total liabilities and $249,500 in long-term debt.
• Revenue concentration — The business relies heavily on clinical trial contracts, which declined sharply in the latest quarter, and the CBD product line has not yet launched.
• Regulatory uncertainty — The cannabis industry faces unpredictable federal and state regulations, and the company's participation in the DEA rescheduling hearing has been paused.

Outlook

Management warns that the company needs substantial additional capital, and if it cannot obtain adequate financing, operations could be materially impacted or terminated. They plan to grow through new services and increased sales, but no assurance is given that funding will be available on acceptable terms.