Quarterly Report for Quarter Ending August 31, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations.

This quarterly report and other reports filed by Cannabis Suisse Corp. (Formerly Geant Corp.) ("we," "us," "our," or the "Company"), from time to time contain or may contain forward-looking statements and information that are based upon beliefs of, and information currently available to, the Company's management as well as estimates and assumptions made by Company's management. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. When used in the filings, the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions as they relate to the Company or the Company's management identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject to risks, uncertainties, assumptions, and other factors. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned.

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). These accounting principles require us to make certain estimates, judgments, and assumptions. We believe that the estimates, judgments, and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent there are material differences between these estimates.

In General

Since June 2022, the Company has focused its business activities on real estate operations and has had no involvement in any aspect of the cannabis industry. In February 2023, the Company leased two properties from entities controlled by its CEO. The Company's former third-party sublease at 2652 Blanding Boulevard was terminated on February 28, 2025. In February 2024, the Company leased two additional properties from entities controlled by its CEO for future expansion. Effective March 1, 2026, the Company entered into a new sublease arrangement with RLSH, LLC, an entity controlled by the CEO, for a portion of the property located at 10 N Newnan Street. The sublease provides for monthly base rent of $7,000.

Results of Operations for the three months ended August 31, 2026 and 2025

Revenue and Cost of Rental Revenue

For the three months ended August 31, 2026, the Company generated related-party rental revenue of $21,000 and incurred cost of rental revenue of $21,931, resulting in a gross loss of $931.

For the three months ended August 31, 2025, the Company generated no rental revenue and incurred no cost of rental revenue.

The increase in rental revenue reflects the new sublease with RLSH, LLC that became effective March 1, 2026. Cost of rental revenue represents the portion of lease expense for the 10 N Newnan Street premises attributable to the subleased space.

Operating Expenses

Total operating expenses for the three months ended August 31, 2026 were $42,384, consisting of professional fees of $14,000, depreciation expense of $1,061 and general and administrative expenses of $27,323.

Total operating expenses for the three months ended August 31, 2025 were $84,535, consisting of professional fees of $21,000, depreciation expense of $1,061 and general and administrative expenses of $62,474.

Total operating expenses decreased by $42,151, or 50%, compared with the prior-year quarter. The decrease was primarily attributable to lower general and administrative expenses, including lower occupancy costs following the expiration of the 2652 Blanding Boulevard lease in January 2026. Professional fees also decreased by $7,000, from $21,000 to $14,000, primarily because audit fees were $8,000 in the current-year quarter compared with $15,000 in

the prior-year quarter due to timing of audit fees incurred, while legal and accounting and consulting fees were unchanged.

Other Income (Expense)

Total other income was $98,442 for each of the three months ended August 31, 2026, and 2025. For each period, other income consisted of amortization of debt premium of $114,739, partially offset by interest expense - related parties of $16,297 related to convertible notes payable - related parties.

Net Income

The Company reported net income of $55,127 for the three months ended August 31, 2026, compared with net income of $13,907 for the three months ended August 31, 2025. The increase of $41,220 was attributable to the $41,220 improvement in operating results as explained above, while total other income remained unchanged at $98,442 for both periods.

Liquidity and Capital Resources and Cash Requirements

As of August 31, 2026, the Company had cash of $256 and a working capital deficit of $535,137, compared with cash of $476 and a working capital deficit of $512,212 as of May 31, 2026.

During the three months ended August 31, 2026, the Company generated $12,780 of cash from operating activities. Net income of $55,127 was adjusted for depreciation of $1,061, noncash lease cost of $35,626 and amortization of debt premium of $114,739, together with a decrease in prepaid expenses of $11,666, an increase in accounts payable of $7,742 and an increase in accrued interest - related parties of $16,297.

During the three months ended August 31, 2025, the Company used $11,545 of cash in operating activities due to amortization of debt premium of $114,739, offset by net income of $13,907, depreciation of $1,061, lease cost (net) of $46,328, decrease in prepaid expense of $15,876, increase in accounts payable of $9,725, and an increase in accrued interest - related parties of $16,297.

The Company had no cash flows from investing activities during the three months ended August 31, 2026 and 2025.

During the three months ended August 31, 2026, the Company used cash in financing activities of $13,000, which was due to advances from related parties of $8,000 offset by repayments of related party advances of $21,000.

During the three months ended August 31, 2025, the Company generated $9,000 of cash from financing activities from advances from related parties.

As a result of these activities, cash decreased by $220 during the three months ended August 31, 2026, from $476 as of May 31, 2026 to $256 as of August 31, 2026.

The Company has generated limited revenue, has a significant working capital deficit and has not established a stable source of revenue sufficient to fund its ongoing operating expenses and obligations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company expects to remain dependent on additional investment capital, borrowings and advances from its CEO and other related parties to fund its operations for the foreseeable future. Management intends to seek additional financing through the capital markets and other available sources and to continue relying on related-party funding in the interim. There can be no assurance that the Company will be able to obtain sufficient financing, increase its revenue or achieve sustained profitable operations.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Critical Accounting Policies

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Leases

The Company follows the accounting for leases under Accounting Standards Codification ("ASC") 842 Lease Accounting and determines if an arrangement is a lease or contains a lease at inception. Operating leases result in operating lease right-of-use ("ROU") assets and operating lease liabilities (short term and long term) being recorded on the Company's balance sheets.

ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company uses the incremental borrowing rate based on the estimated rate of interest for collateralized borrowings over a similar term of the lease payments at commencement date. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

Rent Revenue Recognition

The Company recognizes rent revenue from the lease of its sub-leased properties in accordance with ASC 842, Leases. The sub-lease is categorized as an operating lease according to ASC criteria for the lease definitions. Rent revenue is recognized on a straight-line basis over the lease term, reflecting the pattern of the economic benefits derived from the lease.

The Company's leases generally have fixed rental payments over the lease term, with occasional escalations based on predetermined factors. Rent revenue is recognized monthly as the lessor fulfills its obligations under the lease agreement.

Any lease incentives or concessions provided to lessees, such as rent-free periods or tenant improvement allowances, are recognized as a reduction of rent revenue over the lease term.

For the three months ended August 31, 2026 and 2025, the Company recognized rental income of $21,000 (from a related party) and $0, respectively.

Recent Accounting Pronouncements

The Company has evaluated the recent accounting pronouncements described in Note 2 to the condensed financial statements. The Company is currently evaluating the disclosure effects of ASU 2024-03, as clarified by ASU 2025-01, and does not expect adoption to affect its financial position, results of operations or cash flows.