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Item 2. Management’s Discussion and Analysis

2026-02-19 compared with 2025-10-22 · 55 added, 61 removed, 57 unchanged (67% of the section changed)

Discussion and Analysis of Financial Condition and Results of Operations.

Management’s Discussion

and Analysis of Financial Condition and Results of Operations.

The financial data discussed below are derived

from the unaudited consolidated financial statements of the Company as of August 31, 2025, which were prepared and presented in accordance

from the unaudited consolidated financial statements of the Company as of November 30, 2025, which were prepared and presented in accordance

with United States generally accepted accounting principles for interim financial statements.

14 unchanged sentences

see “Description of Business” in the Company’s Annual Report on Form 10-K for the year ended May 31, 2025.

The Company’s fiscal year begins on June

1 in each year and ends on May 31 in the following year.

The Company’s fiscal year begins on June 1 in

each year and ends on May 31 in the following year.

Going Concern

As indicated in Note 3 of the notes to the audited

consolidated financial statements for the year ended May 31, 2025, and the report thereon of the Company’s independent auditing

consolidated financial statements for the period ended November 30, 2025, and the report thereon of the Company’s independent auditing

firm, there is substantial doubt as to the ability of the Company to continue as a going concern.

3 unchanged sentences

as well as raising either debt or equity financing.

The Company needs substantial additional capital

to fund its business and repay its debts.

No assurance can be given that any additional capital can be obtained or, if obtained, will

be adequate to meet its needs, and the Company may need to take measures to remain a going concern.

The Company needs substantial additional capital to

fund its business and repay its debts.

No assurance can be given that any additional capital can be obtained or, if obtained, will be

adequate to meet its needs, and the Company may need to take measures to remain a going concern.

If adequate capital cannot be obtained

1 unchanged sentence

to terminate its operations.

The Company provides educational systems focused

on medical cannabis in the United States and Latin America, as well as worldwide through online education, services in therapeutic areas

The Company provides educational systems focused on

medical cannabis in the United States and Latin America, as well as worldwide through online education, services in therapeutic areas

of clinical trials and CBD products.

3 unchanged sentences

CBD Business – Sales of CBD products.

For detailed information about the Company and

its operations, see “Description of Business” in the Company’s Annual Report on Form 10-K for the year ended May 31,

For detailed information about the Company and its

operations, see “Description of Business” in the Company’s Annual Report on Form 10-K for the year ended May 31, 2025.

For further information concerning the Company and its business, see “Business.”

Results of Operations

Comparison of the Quarter Ended August

31, 2025, and the Quarter Ended August 31, 2024

The following table sets forth information from

the consolidated statements of operations for the quarters ended August 31, 2025, and August 31, 2024.

Quarter Ended August 31,

Comparison of the Quarter Ended November

30, 2025, and the Quarter Ended November 30, 2024

The following table sets forth information from the

consolidated statements of operations for the quarters ended November 30, 2025, and November 30, 2024.

Quarter Ended November 30,

Cost of revenues

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Amortization of discount

Note discount

Forgiveness of debt

1 unchanged sentence

Revenues were $53,266 and $74,248 for the quarters

ended August 31, 2025, and August 31, 2024, respectively, primarily due to a decrease of $149,047 in revenues from clinical trial contracts,

ended November 30, 2025, and November 30, 2024, respectively, primarily due to a decrease of $32,878 in revenues from clinical trial contracts,

which were $40,903 in the latter period and $73,781 in the former.

This reduction was due to fewer clinical trial contracts taken in

the first quarter.

Online sales of educational materials decreased by $440, from $501 in the quarter ended August 31, 2024, to $61 in

the quarter ended August 31, 2025, due to lower demand for the Company’s online products.

This reduction was due to fewer clinical trial contracts taken in the

Online sales of educational materials decreased by $334, from $467 in the quarter ended November 30, 2024, to $133 in the

quarter ended November 30, 2025, due to lower demand for the Company’s online products.

Operating Expenses

Operating expenses for the quarters ended August

31, 2025, and August 31, 2024, consisted of the following:

Quarter Ended August 31,

Operating expenses for the quarters ended November

30, 2025, and November 30, 2024, consisted of the following:

Quarter Ended November 30,

General and administrative

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Total operating expenses

The decrease in operating expenses was primarily

due to a decrease of $100,000 in share-based compensation, a decrease of $31,269 in general and administrative, a decrease of $28,829

in professional fees, and a decrease of $7,190 in rent.

The increase in operating expenses was primarily due

to an increase of $44,923 in Professional Fees.

Operating Loss

For the reasons set forth above, operating loss

decreased from $97,604 in the quarter ended August 31, 2024, to $74,784 in the quarter ended August 31, 2025.

Pursuant to FASB ASU No.

2018-07 (see Note 2 –Share-Based Payments), the Company records the issuance of shares in consideration of services as an expense,

although such issuance does not involve an expenditure of cash.

Accordingly, the issuance of 125,000,000 shares as compensation is reflected

as an expense of $100,000 in the consolidated statements of operations for the quarter ended August 31, 2024.

If the Company had not incurred

this non-cash expense, it would have recorded income from operations of $2,396 for the quarter ended August 31, 2024.

Interest was $17,368 in the quarter ended August

31, 2025, and $2,339 in the quarter ended August 31, 2024.

In the quarter ended August 31, 2025, the Company

recorded a change in value of derivative liabilities as other income of $29,322.

In the quarter ended August 31, 2024, it received other

income of $23,638 from the forgiveness of a loan.

Net loss for the quarter ended August 31, 2025,

was $82,645, compared with a net loss of $76,305 for the quarter ended August 31, 2024, for the reasons set forth above in relation to

loss from operations ended August 31, 2025.

Changes in Financial Condition and Results

of Operations

At August 31, 2025, the Company had $223 in cash

and cash equivalents and accounts receivable of $8,966, negative working capital of $996,728 and no commitments for capital expenditures.

increased from $79,528 in the quarter ended November 30, 2024, to $116,966 in the quarter ended November 30, 2025, primarily due to

a decrease in revenue from clinical trial amounting to $32,878 and an increase in operating expense from Professional fees of

Interest was $17,860 in the quarter ended November

30, 2025, and $8,701 in the quarter ended November 30, 2024.

For the quarters ended November 30, 2025, and

November 30, 2024, interest was $17,860 and $8,701, respectively.

During the quarter ended November 30, 2024, the Company recorded an

expense from note discount amounting to $11,200 and $3,230 for the quarter ended November 30, 2025.

As a result, other income (expense)

for the quarters ended November 30, 2025, and November 30, 2024, showed losses of $21,090 and $19,901, respectively.

Net loss for the quarter ended November 30, 2025,

was $116,966, compared with a net loss of $79,528 for the quarter ended November 30, 2024, for the reasons set forth above in relation

to loss from operations ended November 30, 2025.

Changes in Financial Condition and Results of

At November 30, 2025, the Company had $132 in

cash and cash equivalents and accounts receivable of $21,811, negative working capital of $1,113,695 and no commitments for capital expenditures.

At May 31, 2025, the Company had $12,952 in cash and cash equivalents, accounts receivable of $6,380, negative working capital of $916,878

and no commitments for capital expenditures.

The Company have cash and cash equivalents of $128 on the date of this Report.

During the quarter ended August 31, 2025, the

Company had net cash used in operations of $103,712, while during the quarter ended August 31, 2024, the Company had net cash used in

operations of $30,413.

During the quarter ended August 31, 2025, the Company had net cash provided by financing activities of $90,983,

while during the quarter ended August 31, 2024, the Company had net cash provided by financing activities of $30,627.

The Company had

accumulated deficits of $5,965,546 at August 31, 2025, and $5,882,901 at May 31, 2025.

The Company has cash and cash equivalents of $82 on the date of this Report.

During the six months ended November 30, 2025, the

Company had net cash used in operations of negative $109,205, while during the six months ended November 30, 2024, the Company had net

cash used in operations of $102,503.

During the six months ended November 30, 2025, the Company had net cash provided by financing activities

of $96,385, while during the six months ended November 30, 2024, the Company had net cash provided by financing activities

The Company had accumulated deficits of $6,082,513 at November 30, 2025, and $5,882,901 at May 31, 2025.

Off-Balance-Sheet Arran g ements

1 unchanged sentence

Recent Accounting Pronouncements

Refer to Note 2 of the accompanying financial

Refer to Note 2 of the accompanying financial statements.

Quantitative and Qualitative Disclosures About Market Risk.

The Company is a smaller reporting company as

defined by Rule 12b-2 of the Securities Exchange Act of 1934 and accordingly is not required to provide information under this item.

The Company is a smaller reporting company as defined

by Rule 12b-2 of the Securities Exchange Act of 1934 and accordingly is not required to provide information under this item.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 2. Management’s Discussion and Analysis