Cannabis Bioscience International Holdings, Inc. (CBIH) presents a terminal liquidation posture with essentially zero recovery to equity. As of February 28, 2026, total assets are $1,544 against total liabilities at face value of $1,468,674, producing a book stockholders' deficiency of $(1,467,130). Under liquidation-lens haircuts, the asset side collapses further: cash of $90 (100% recovery = $90), accounts receivable of $1,266 (90-95% recovery = ~$1,140-$1,203), and other current assets of $188. Total recoverable asset value under any haircut scenario is sub-$1,400. Liabilities remain at face: $1,219,174 current and $249,500 long-term, yielding a liquidation value to equity of approximately $(1,467,000) to $(1,468,000), consistent with the MFFAIS CLV of $(1,468,584). The operating lease ROU asset and associated current lease liability, which existed at May 31, 2025 ($2,795 and $4,906 respectively), have both amortized to zero at the current period end, eliminating a minor liability offset. The dominant liability driver is related-party payables of $845,294, up 35.5% from $623,474 at May 31, 2025, representing the Jones Note restructuring executed November 1, 2025 (face $360,154 at 2.5% per annum). Short-term loans of $111,721 include at least two instruments in default (May 2022 loan at 20.9% and October 2019 Headway loan at 14%). SBA EIDL long-term debt is unchanged at $249,500 noncurrent plus $14,592 current. The company burned $303,546 in net loss over nine months and generated only $88,671 in revenue (vs. $268,066 in the prior-year nine months), with 99% customer concentration in a single clinical-trial sponsor. Financing is entirely dependent on related-party advances ($122,698 YTD). Cash at period end was $90; MD&A discloses $81.89 on the filing date. The going-concern disclosure is unqualified. The filing discloses the Pharmacology University business was terminated December 31, 2025 (noted as a subsequent event in the prior Q2 filing), reducing already negligible revenue diversity further. No PP&E is separately tagged in XBRL; the filing does not separately disclose a PP&E balance, suggesting no tangible fixed-asset value exists. Deferred tax assets carry a full valuation allowance against $6.2M in NOL carryforwards, contributing zero liquidation value.
▼ Community Notes