What changed in this filing

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Item 2. Management’s Discussion and Analysis

2026-04-16 compared with 2026-02-19 · 42 added, 45 removed, 67 unchanged (56% of the section changed)

2 unchanged sentences

The financial data discussed below are derived

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

from the unaudited consolidated financial statements of the Company as of February 28, 2026, which were prepared and presented in accordance

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

9 unchanged sentences

Information about the Company

The Company, headquartered in Houston, Texas,

conducts clinical trials for Sponsors and CROs and as a Sponsor through Alpha Research Institute, cannabis-related education in classrooms,

seminars and online through Pharmacology University and 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, 2025.

The Company, headquartered in Houston, Texas, conducts

clinical trials for Sponsors and CROs and as a Sponsor through Alpha Research Institute, cannabis-related education in classrooms, seminars

and online through Pharmacology University and 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-Q for the month ended February 28, 2026.

The Company’s fiscal year begins on June 1 in

2 unchanged sentences

As indicated in Note 3 of the notes to the audited

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

consolidated financial statements for the period ended February 28, 2026, 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.

21 unchanged sentences

Results of Operations

Comparison of the Quarter Ended November

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

Comparison of the Quarter Ended February

28, 2026, and the Quarter Ended February 28, 2025

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,

consolidated statements of operations for the quarters ended February 28, 2026, and February 28, 2025.

Quarter Ended February 28,

Cost of revenues

2 unchanged sentences

Amortization of discount

Note discount

Note discount expense

Forgiveness of debt

Change in fair value of derivative liabilities

Other Income/loss

Revenues were $11,205 and $14,931 for the quarters

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

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.

ended February 28, 2026, and February 28, 2025, respectively, primarily due to a decrease of $42,061 in revenues from clinical trial contracts.

This reduction was due to fewer clinical trial contracts taken in the 3rd quarter.

Operating Expenses

Operating expenses for the quarters ended November

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

Quarter Ended November 30,

Operating expenses for the quarters ended February

28, 2026, and February 28, 2025, consisted of the following:

Quarter Ended February,

General and administrative

2 unchanged sentences

Officer compensation

Share-based compensation

Total operating expenses

The increase in operating expenses was primarily due

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

The decrease in operating expenses was primarily due to a decrease

of $23,344 in General & Administrative expense.

Operating Loss

For the reasons set forth above, operating loss

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.

decreased from $181,243 in the quarter ended February 28, 2025 to $103,933 in the quarter ended February 28, 2026, primarily due to a

decrease in operating expenses from General and Administrative expense amounting to $23,344 and a decrease in Contract labor of 7,516.

Interest was $10,776 in the quarter ended February

28, 2026, and $22,473 in the quarter ended February 28, 2025.

For the quarter February 28, 2026, and February 28,

2025, interest was $10,776 and $22,473, respectively.

During the quarter ended February 28, 2025, the Company recorded an expense from

Amortization of discount amounting to $13,138 and $0.00 for February 28, 2026.

As a result, other income (expense) for the quarter ended

February 28, 2026, and February 28, 2025, showed loss of $10,675 and loss of $52,009, respectively.

Net loss for the quarter ended February 28, 2026,

was $92,463, compared with a net loss of $181,243 for the quarter ended February 28, 2025, for the reasons set forth above in relation

to loss from operations ended February 28, 2026.

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 February 28, 2026, the Company had $90 in cash

and cash equivalents and accounts receivable of $1,266, negative working capital of $1,217,630 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 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.

The Company have cash and cash equivalents of $81.89 on the date of this Report.

During the nine months ended February 28, 2026,

the Company had net cash used in operations of negative $123,802, while during the nine months ended February 28, 2025, the Company had

net cash used in operations of $185,315.

During the nine months ended February 28, 2026, the Company had net cash provided by financing

activities of $110,940, while during the nine months ended February 28, 2025, the Company had net cash provided by financing activities

The Company had accumulated deficits of $6,186,448 at February 28, 2026, and $5,882,901 at May 31, 2025.

Off-Balance-Sheet Arran g ements

6 unchanged sentences

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