$STME

Sports Asylum, Inc.

CIK:0001493712|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	May 31, 2026	May 31, 2025
Operating expenses
Consulting fees	$ 138,790	$ 137,488
Foreign exchange expense	5,501	17,157
General and administrative expenses	382,560	213,452
Management fee expense	90,000	90,000
Research and development expense, increase and decrease	209,176	64,009
Total operating expenses	826,027	522,106
Other items
Gain (loss) on forgiveness of debt	0	(5,931)
Interest	(69,348)	(38,256)
Net income (loss)	(895,375)	(566,293)
Foreign currency translation Income (loss)	5,316	13,047
Comprehensive loss	$ (890,059)	$ (553,246)
Earnings Per Share, Basic	$ (0.04)	$ (0.03)
Weighted Average Number of Shares Outstanding, Basic	20,747,436	19,843,258

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	May 31, 2026	May 31, 2025
Cash flows used in operating activities
Net income (loss)	$ (895,375)	$ (566,293)
Adjustments to reconcile net loss to net cash used in operating activities
Accrued interest on notes payable	63,295	31,515
Accrued interest on vendor payable	6,053	6,741
Gain (loss) on forgiveness of debt	0	5,931
Non-cash investor relations fees	266,444	107,750
Unrealized foreign exchange	4,848	15,341
Changes in operating assets and liabilities
Other current assets:	(13,183)	(3,930)
Accounts payable:	28,856	42,857
Accrued liabilities:	10,725	(1,108)
Due to related parties:	216,256	219,596
Net cash flows used in operating activities	(312,081)	(141,600)
Net Cash Flows from Financing Activities
Proceeds from related party notes	300,582	112,858
Net cash provided by financing activities	300,582	112,858
Effects of foreign currency exchange on cash	(25)	(92)
Decrease in cash	(11,524)	(28,834)
Cash, beginning	14,581	43,415
Cash, ending	$ 3,057	$ 14,581

CONSOLIDATED BALANCE SHEETS - USD ($)	May 31, 2026	May 31, 2025
Current assets
Cash	$ 3,057	$ 14,581
Other current assets	78,397	6,641
Total assets	81,454	21,222
Liabilities
Accounts payable	356,302	322,144
Accrued liabilities	37,674	26,954
Due to related parties - current	665,321	448,536
Notes and advances due to related parties	833,477	469,874
Total liabilities	1,892,774	1,267,508
STOCKHOLDERS' DEFICIT
Common stock, $0.001 par value, 500,000,000 shares authorized; 21,141,272 and 20,141,272 shares issued and outstanding at May 31, 2026 and 2025, respectively	21,141	20,141
Additional paid-in capital	9,470,616	9,146,591
Reserves	366,493	366,493
Accumulated deficit	(11,756,931)	(10,861,556)
Accumulated other comprehensive income	87,361	82,045
Total stockholders' deficit	(1,811,320)	(1,246,286)
Total liabilities and stockholders' deficit	$ 81,454	$ 21,222