Cannabis Suisse 10-K: Going Concern, Material Weaknesses, and $476 Cash
CSUI has more than doubled off its 52-week low of $0.003.
Summary
Cannabis Suisse's FY2026 10-K reveals a going concern opinion, $476 in cash, material weaknesses in internal controls, and a CEO holding 83% beneficial ownership through convertible notes.
Key Events · Earnings and Guidance · CSUI
-
Going Concern Opinion
Auditors issued a going concern opinion for FY2026. Cash is $476, working capital deficit is $512,212, and accumulated deficit is $2,934,307.
-
Material Weaknesses Disclosed
Management identified three material weaknesses: no segregation of duties, no independent board oversight, and no formal IT controls or data backup procedures.
-
Non-Cash Net Income
Reported net income of $122,739 is entirely non-cash, driven by $455,214 in debt premium amortization. Operating activities used $40,324 in cash.
-
CEO Control and Dilution Risk
CEO Scott McAlister holds 83.34% beneficial ownership, including 135,203,984 shares obtainable via convertible notes at $0.005 per share — potential massive dilution.
Analysis · CSUI · Real Estate & Construction
The annual report confirms the company's precarious financial position. Auditors issued a going concern opinion, cash stands at just $476, and the working capital deficit widened to $512,212. Management disclosed three material weaknesses in internal controls, including no segregation of duties and no independent board oversight. The reported net income of $122,739 is entirely non-cash — driven by $455,214 in debt premium amortization — while actual operations burned $40,324 in cash. The CEO controls 83.34% of the company through convertible notes that could add 135 million shares, creating massive potential dilution. This is a survival story, not a turnaround.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 36% of the 1040 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CSUI was trading at $0.01 on OTC in the Real Estate & Construction sector, with a market capitalization of approximately $480.6K. The 52-week trading range was $0.00 to $0.03. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.