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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
| ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March
31, 2024
| ☐ | TRANSITION REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from ___ to ___
Commission file number: 000-32363
CANCER CAPITAL CORP.
(Exact name of registrant as specified in its charter)
Wyoming
(State or other jurisdiction of incorporation or organization) |
91-1803648
(I.R.S. Employer Identification No.) |
440 East 400 South Ste 300, Salt Lake City, Utah
(Address of principal executive offices) |
84111
(Zip code) |
(801) 323-2395
(Registrant’s telephone number, including area
code)
Securities registered pursuant to Section 12(b) of the Act: None
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for
such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically
every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large
accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company”
in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐
Non-accelerated filer ☑ |
Accelerated filer ☐
Smaller reporting company ☑
Emerging growth company ☑ |
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act). Yes ☑ No ☐
The number of shares outstanding of the registrant’s Common Stock
as of May 6, 2024 was 6,150,000.
TABLE OF CONTENTS
|
PART I - FINANCIAL INFORMATION |
|
|
|
|
Item 1. |
Financial Statements (Unaudited) |
3 |
|
Condensed Balance Sheets (Unaudited) |
4 |
|
Condensed Statements of Operations (Unaudited) |
5 |
|
Condensed Statements of Stockholders' Deficit (Unaudited) |
6 |
|
Condensed Statements of Cash Flows (Unaudited) |
7 |
|
Condensed Notes to the Unaudited Financial Statements |
8 |
Item 2. |
Management's Discussion and Analysis of Financial
Condition and Results of Operations |
9 |
Item 3. |
Quantitative and Qualitative Disclosures about Market Risk |
11 |
Item 4. |
Controls and Procedures |
11 |
|
|
|
|
PART II - OTHER INFORMATION |
|
|
|
|
Item 1. |
Legal Proceedings |
12 |
Item 1a. |
Risk Factors Information |
12 |
Item 2. |
Unregistered Sales of Equity Securities and Use of Proceeds |
12 |
Item 3. |
Defaults Upon Senior Securities |
12 |
Item 4. |
Mine Safety Disclosures |
12 |
Item 5. |
Other Information |
12 |
Item 6. |
Exhibits |
12 |
Signatures |
13 |
PART I – FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
CANCER CAPITAL CORP.
Condensed Financial Statements
March 31, 2024
(Unaudited)
Cancer Capital Corp.
Condensed Balance Sheets
| |
| |
|
| |
(Unaudited) | |
|
| |
| |
|
| |
MARCH 31, 2024 | |
DEC 31, 2023 |
| |
| |
|
ASSETS | |
| | | |
| | |
CURRENT ASSETS | |
| | | |
| | |
Cash | |
$ | 12,657 | | |
$ | 16,157 | |
Total current assets | |
| 12,657 | | |
| 16,157 | |
TOTAL ASSETS | |
$ | 12,657 | | |
$ | 16,157 | |
| |
| | | |
| | |
LIABILITIES AND STOCKHOLDERS' DEFICIT | |
| | | |
| | |
CURRENT LIABILITIES | |
| | | |
| | |
Accounts payable – related party | |
$ | 7,500 | | |
$ | 6,000 | |
Accounts Payable - Vendors | |
| 5,050 | | |
| — | |
Notes payable – related party | |
| 164,125 | | |
| 164,125 | |
Notes payable | |
| 130,275 | | |
| 130,275 | |
Accrued interest – related party | |
| 93,436 | | |
| 90,153 | |
Accrued interest | |
| 77,602 | | |
| 74,996 | |
Total current liabilities | |
| 447,988 | | |
| 465,549 | |
Total liabilities | |
| 447,988 | | |
| 465,549 | |
Commitments & Contingencies | |
| — | | |
| — | |
| |
| | | |
| | |
STOCKHOLDERS' DEFICIT | |
| | | |
| | |
Common stock, $.001 par value; 20,000,000 shares authorized;
6,150,000 shares issued and outstanding | |
| 6,150 | | |
| 6,150 | |
Additional paid-in capital | |
| 47,050 | | |
| 47,050 | |
Accumulated deficit | |
| (518,531 | ) | |
| (502,592 | ) |
Total stockholders' deficit | |
| (465,331 | ) | |
| (449,392 | ) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | |
$ | 12,657 | | |
$ | 16,157 | |
The
accompanying notes are an integral part of these unaudited condensed financial statements.
Cancer Capital Corp.
Condensed Statements of Operations
(Unaudited)
| |
| | | |
| | |
| |
FOR
THE THREE MONTHS ENDED MARCH 31, 2024 | |
FOR
THE THREE MONTHS ENDED MARCH 31, 2023 |
| |
| |
|
Revenues | |
$ | — | | |
$ | — | |
| |
| |
|
Operating
expenses | |
| | | |
| | |
General
and administrative | |
| 10,050 | | |
| 5,699 | |
Total
operating expenses | |
| 10,050 | | |
| 5,699 | |
| |
| | | |
| | |
Loss
from operations | |
| (10,050 | ) | |
| (5,699 | ) |
| |
| | | |
| | |
Other
expense | |
| | | |
| | |
Interest
expense – related party | |
| (3,283 | ) | |
| (3,103 | ) |
Interest
expense | |
| (2,606 | ) | |
| (2,606 | ) |
Total
other expense | |
| (5,889 | ) | |
| (5,709 | ) |
| |
| | | |
| | |
Loss
before income taxes | |
| (15,939 | ) | |
| (11,408 | ) |
| |
| | | |
| | |
Income
tax expense | |
| — | | |
| — | |
| |
| | | |
| | |
Net
loss | |
$ | (15,939 | ) | |
$ | (11,408 | ) |
| |
| | | |
| | |
Net
loss per share – Basic and diluted | |
$ | (0.00 | ) | |
$ | (0.00 | ) |
| |
| | | |
| | |
Weighted
average shares outstanding – Basic and diluted | |
| 6,150,000 | | |
| 6,150,000 | |
The accompanying
notes are an integral part of these unaudited condensed financial statements.
Cancer Capital Corp.
Condensed Statements of Stockholders’ Deficit
For the three months ended March 31, 2024 and 2023
(Unaudited)
| |
| |
| |
| |
| |
|
| |
| |
Additional | |
| |
Total |
| |
Common Stock | |
Paid-in | |
Accumulated | |
Stockholders’ |
| |
Shares | |
Amount | |
Capital | |
Deficit | |
Deficit |
| |
| |
| |
| |
| |
|
Balance – December 31, 2022 | |
| 6,150,000 | | |
| 6,150 | | |
$ | 47,050 | | |
$ | (464,799 | ) | |
$ | (411,599 | ) |
Net loss for the three months ended March, 2023 | |
| — | | |
| — | | |
| — | | |
| (11,408 | ) | |
| (11,408 | ) |
Balance – March 31, 2023 | |
| 6,150,000 | | |
| 6,150 | | |
$ | 47,050 | | |
$ | (476,207 | ) | |
$ | (423,007 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | |
Balance – December 31, 2023 | |
| 6,150,000 | | |
| 6,150 | | |
$ | 47,050 | | |
$ | (502,592 | ) | |
$ | (449,392 | ) |
Net loss for the three months ended March 31, 2024 | |
| — | | |
| — | | |
| — | | |
| (15,939 | ) | |
| (15,939 | ) |
Balance – March 31, 2024 | |
| 6,150,000 | | |
| 6,150 | | |
$ | 47,050 | | |
$ | (518,531 | ) | |
$ | (465,331 | ) |
The accompanying notes are an integral part of
these unaudited condensed financial statements.
Cancer Capital Corp.
Condensed Statements of Cash Flows
(Unaudited)
| |
| |
|
| |
FOR
THE THREE MONTHS ENDED MARCH 31, 2024 | |
FOR
THE THREE MONTHS ENDED MARCH 31, 2023 |
| |
| |
|
Cash
Flows from Operating Activities | |
| | | |
| | |
Net
Loss | |
$ | (15,939 | ) | |
$ | (11,408 | ) |
Adjustment
to reconcile net loss to cash used by operating activities: | |
| | | |
| | |
Expenses
paid by related party | |
| 1,500 | | |
| 1,500 | |
Changes in
operating assets and liabilities: | |
| | | |
| | |
Accounts
payable | |
| 5,050 | | |
| — | |
Increase
in accrued interest – related party | |
| 3,283 | | |
| 3,103 | |
Increase
in accrued interest | |
| 2,606 | | |
| 2,606 | |
Net
cash used by operating activities | |
| (3,500 | ) | |
| (4,199 | ) |
| |
| | | |
| | |
Cash
Flows from Investing Activities | |
| | | |
| | |
Net
cash provided by investing activities | |
| — | | |
| — | |
| |
| | | |
| | |
Cash
Flows from Financing Activities | |
| | | |
| | |
Net
cash provided by financing activities | |
| — | | |
| — | |
| |
| | | |
| | |
Increase
in cash | |
| (3,500 | ) | |
| (4,199 | ) |
| |
| | | |
| | |
Cash
at beginning of period | |
| 16,157 | | |
| 22,055 | |
| |
| | | |
| | |
Cash
at end of period | |
$ | 12,657 | | |
$ | 17,856 | |
| |
| | | |
| | |
Supplemental
Cash Flow Information: | |
| | | |
| | |
Cash paid
for interest | |
$ | — | | |
$ | — | |
Cash paid
for income taxes | |
$ | — | | |
$ | — | |
The accompanying notes are an integral part of
these unaudited condensed financial statements.
Cancer Capital Corp.
Notes to the Condensed Financial Statements
(Unaudited)
March 31, 2024
NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION
The accompanying unaudited condensed financial statements
have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed financial
statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for
a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate
to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with
the Company’s audited financial statements and notes thereto included in its December 31, 2023, Annual Report on Form 10-K. Operating
results for the three months ended March 31, 2024, are not necessarily indicative of the results to be expected for year ending December
31, 2024.
NOTE 2 – GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative
cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and
it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue
as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It
is management’s plan to acquire or merge with other operating companies.
NOTE 3 – RELATED PARTY TRANSACTIONS
During the three months ended March 31, 2024, a shareholder,
invoiced the Company for consulting, administrative and professional services and out-of-pocket costs provided or paid on behalf of the
Company totaling $1,500, resulting in the Company owing the shareholder $7,500 and $6,000 at March 31, 2024, and December 31, 2023, respectively.
During the three months ended March 31, 2024, a shareholder
loaned the Company $0 by related parties. The notes bear interest at 8% and are due on demand. Notes payable – related party at
March 31, 2024, and December 31, 2023, were $164,125 and $164,125, respectively. Accrued interest at March 31, 2024, and December 31,
2023, was $93,436 and $90,153, respectively.
NOTE 4 – Notes Payable
During the three months ended March 31, 2024, the
Company was loaned $0. The notes bear interest at 8% and are due on demand. Notes payable from non-related parties at March 31, 2024,
and December 31, 2023, were $130,275 and $130,275, respectively. Accrued interest at March 31, 2024, and December 31, 2023, was $77,602
and $74,996, respectively.
NOTE 5 – Subsequent Events
The Company has evaluated subsequent events from the
balance sheet date through the date the financial statements were issued and has determined that there are no such events that would have
a material impact on the financial statements.
FORWARD LOOKING STATEMENTS
The Securities and Exchange Commission (“SEC”)
encourages companies to disclose forward-looking information so that investors can better understand future prospects and make informed
investment decisions. This report contains these types of statements. Words such as “may,” “intend,” “expect,”
“believe,” “anticipate,” “estimate,” “project,” or “continue” or comparable
terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements.
You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. All forward-looking
statements reflect our present expectation of future events and are subject to a number of important factors and uncertainties that could
cause actual results to differ materially from those described in the forward-looking statements.
In this report references to “Cancer
Capital,” “the Company,” “we,” “us,” and “our” refer to Cancer Capital Corp.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Executive Overview
We have not recorded revenues since inception, and
we are dependent upon financing to continue basic operations. Management intends to rely upon advances or loans from management, significant
stockholders or third parties to meet our cash requirements, but we have not entered into written agreements guaranteeing funds and, therefore,
no one is obligated to provide funds to us in the future. These factors raise substantial doubt as to our ability to continue as a going
concern. Our plan is to combine with an operating company to generate revenue.
As of the date of this report, our management has
not had any discussions with any representative of any other entity regarding a business combination with us. Any target business that
is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without
established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations
of financially unstable and early stage or potential emerging growth companies. In addition, we may complete a business combination with
an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent
in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks. In addition,
any business combination or transaction will likely result in a significant issuance of shares and substantial dilution to present stockholders
of the Company.
We anticipate that the selection of a business opportunity
will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries
and shortages of available capital, our management believes that there are numerous firms seeking the perceived benefits of becoming a
publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating
or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in
a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility
in structuring acquisitions, joint ventures and the like through the issuance of securities. Potentially available business combinations
may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation
and analysis of such business opportunities extremely difficult and complex.
If we obtain a business opportunity, then it may be
necessary to raise additional capital. We anticipate that we will sell our common stock to raise this additional capital. We expect that
we would issue such stock pursuant to exemptions to the registration requirements provided by federal and state securities laws. The purchasers
and manner of issuance will be determined according to our financial needs and the available exemptions to the registration requirements
of the Securities Act of 1933. We do not currently intend to make a public offering of our stock. We also note that if we issue more shares
of our Common Stock, then our stockholders may experience dilution in the value per share of their Common Stock.
Liquidity and Capital Resources
We have not recorded revenues from operations since
inception and we have not established an ongoing source of revenue sufficient to cover our operating costs. We have relied primarily upon
related parties and third parties to provide and pay for professional and operational expenses. At March 31, 2024, we had $12,657 cash
and at December 31, 2023, we had $16,157. At March 31, 2024, total liabilities increased to $477,988, compared to $465,549 at December
31, 2023. Total liabilities primarily represent an increase in accounts payable and accrued interest for all notes payable and notes payable-related
party for cash advances, consulting services and professional services provided by or paid for by a stockholder (See “Commitments
and Obligations,” below).
We intend to obtain capital from management, significant
stockholders and/or third parties to cover minimal operations; however, there is no assurance that additional funding will be available.
Our ability to continue as a going concern during the long term is dependent upon our ability to find a suitable business opportunity
and acquire or enter into a merger with such company. The type of business opportunity with which we acquire or merge will affect our
profitability for the long term.
During the next 12 months we anticipate incurring
additional costs related to the filing of Exchange Act reports. We believe we will be able to meet these costs through funds provided
by management, significant stockholders and/or third parties. We may also rely on the issuance of our common stock in lieu of cash to
convert debt or pay for expenses.
Results of Operations
We did not record operating revenues in either 2024
or 2023. General and administrative expense for the three months ended March 31, 2024 (“2024 first quarter”) was $10,050 compared
to $5,699 for the three months ended March 31, 2023 (“2023 first quarter”).
Total other expense increased to $5,889 for the 2024
first quarter, compared to $5,709 for the 2023 first quarter. Total other expense represents interest expense related to notes payable
and notes payable - related party.
Our net loss decreased to $15,939 for the 2024 first
quarter, compared to $11,408 for the 2023 first quarter. Management expects net losses to continue until we acquire or merge with a business
opportunity.
Commitments and Obligations
At March 31, 2024, we reported notes payable totaling
$130,275 with accrued interest of $77,602. We recorded notes payable - related party totaling $164,125 with accrued interest of $93,436.
All of the notes payable are non-collateralized, carry interest at 8% and are due on demand.
During the three months ended March 31, 2024, a shareholder
invoiced the Company for consulting, administrative and professional services and out-of-pocket costs provided or paid on behalf of the
Company totaling $1,500 resulting in the Company owing the shareholder $7,500 at March 31, 2024.
As of March 31, 2024, two lenders represent in excess
of 95% of our accounts and notes payable.
Off-Balance Sheet Arrangements
We have not entered into any off-balance sheet arrangements
that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues
or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.
Emerging Growth Company
We qualify as an emerging growth company as that term
is used in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). A company qualifies as an emerging growth company
if it has total annual gross revenues of less than $1.07 billion during its most recently completed fiscal year and, as of December 8,
2011, had not sold common equity securities under a registration statement. Under the JOBS Act we are permitted to, and intend to, rely
on exemptions from certain disclosure requirements.
In addition, Section 107 of the JOBS Act also provides
that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities
Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain
accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits
of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such
new or revised accounting standards.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK
Not applicable to smaller reporting companies.
ITEM 4. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
We maintain disclosure controls and procedures (as
defined in Rule 13a-15(e) or 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in
our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms
of the SEC. This information is accumulated to allow our management to make timely decisions regarding required disclosure. Our President,
who serves as our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls
and procedures as of the end of the period covered by this report and he determined that our disclosure controls and procedures were not
effective due to a control deficiency. During the period we did not have additional personnel to allow segregation of duties to ensure
the completeness or accuracy of our information. Due to the size and operations of the Company we are unable to remediate this deficiency
until we acquire or merge with another company.
Changes to Internal Control over Financial Reporting
Our management is responsible for establishing and
maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Management conducted
an evaluation of our internal control over financial reporting and determined that there were no changes made in our internal control
over financial reporting during the quarter ended March 31, 2024, that have materially affected or are reasonably likely to materially
affect our internal control over financial reporting.
PART II – OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
We know of no material, existing
or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are
no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party
or has a material interest adverse to our company.
ITEM 1A. RISK FACTORS
As a smaller reporting company, we are not required
to provide the information required by this Item.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
None.
ITEM 6. EXHIBITS
Part I Exhibits
Part II Exhibits
No. |
Description |
3(i).1 |
Articles of Incorporation, dated April
11, 1997 (Incorporated by reference to exhibit 3.1 of the Form 10-SB, File No. 000-32363, filed February 20, 2001) |
3(i).2 |
Wyoming Articles of Domestication for
Cancer Capital, dated April 28, 2016 (Incorporated by reference to exhibit 3(i) to Form 10-Q, filed May 13, 2016) |
3(ii) |
Bylaws of Cancer Capital, dated May 2, 2016 (Incorporated by reference
to exhibit 3(ii) to Form 10-Q, filed May 13, 2016) |
101.INS |
XBRL Instance Document |
101.SCH |
XBRL Taxonomy Extension Schema Document |
101.CAL |
XBRL Taxonomy Calculation Linkbase Document |
101.CAL |
XBRL Taxonomy Extension Definition Linkbase Document |
101.LAB |
XBRL Taxonomy Label Linkbase Document |
101.PRE |
XBRL Taxonomy Presentation Linkbase Document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 6, 2024 |
CANCER CAPITAL CORP.
By: /s/ John W. Peters
John W. Peters
President and Director
Principal Financial Officer |
13
Exhibit 31.1
PRINCIPAL EXECUTIVE OFFICER CERTIFICATION
I, John W. Peters, certify that:
| 1. | I have reviewed this quarterly report on Form 10-Q of Cancer Capital Corp.; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period
covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this
report. |
| 4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared;
(b) Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant’s
internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting; and
| 5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing
the equivalent function): |
(a) All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s
ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 6, 2024 |
/s/ John W. Peters
John W. Peters
Principal Executive Officer |
Exhibit 31.2
PRINCIPAL FINANCIAL OFFICER CERTIFICATION
I, John W. Peters, certify that:
| 1. | I have reviewed this quarterly report on Form 10-Q of Cancer Capital Corp.; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statement made, in light of the circumstances under which statements were made, not misleading with respect to the period
covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this
report. |
| 4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange
Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
(a) Designed such disclosure controls and procedures, or caused
such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which
this report is being prepared;
(b) Designed such internal control over financial reporting,
or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change in the registrant’s
internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting; and
| 5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing
the equivalent function): |
(a) All significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s
ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 6, 2024 |
/s/ John W. Peters
John W. Peters
Principal Financial Officer |
Exhibit 32.1
CANCER CAPITAL CORP.
CERTIFICATION OF PERIODIC REPORT
Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
18 U.S.C. Section 1350
The undersigned executive officer of Cancer Capital Corp. certifies pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002 that:
| a. | the quarterly report on Form 10-Q of Cancer Capital Corp. for the quarter ended March 31, 2024, fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
| b. | the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition
and results of operations of Cancer Capital Corp. |
Date: May 6, 2024 |
/s/ John W. Peters
John W. Peters
Principal Executive Officer
Principal Financial Officer |
v3.24.1.u1
Cover - shares
|
3 Months Ended |
|
Mar. 31, 2024 |
May 06, 2024 |
Cover [Abstract] |
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|
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Q1
|
|
Document Fiscal Year Focus |
2024
|
|
Current Fiscal Year End Date |
--12-31
|
|
Entity File Number |
000-32363
|
|
Entity Registrant Name |
CANCER CAPITAL CORP.
|
|
Entity Central Index Key |
0001130889
|
|
Entity Tax Identification Number |
91-1803648
|
|
Entity Incorporation, State or Country Code |
WY
|
|
Entity Address, Address Line One |
440 East 400 South
|
|
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Ste 300
|
|
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Salt Lake City
|
|
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UT
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84111
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(801)
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v3.24.1.u1
Condensed Balance Sheets (Unaudited) - USD ($)
|
Mar. 31, 2024 |
Dec. 31, 2023 |
CURRENT ASSETS |
|
|
Cash |
$ 12,657
|
$ 16,157
|
Total current assets |
12,657
|
16,157
|
TOTAL ASSETS |
12,657
|
16,157
|
CURRENT LIABILITIES |
|
|
Accounts payable – related party |
7,500
|
6,000
|
Accounts Payable - Vendors |
5,050
|
|
Notes payable – related party |
164,125
|
164,125
|
Notes payable |
130,275
|
130,275
|
Accrued interest – related party |
93,436
|
90,153
|
Accrued interest |
77,602
|
74,996
|
Total current liabilities |
447,988
|
465,549
|
Total liabilities |
447,988
|
465,549
|
Commitments & Contingencies |
|
|
STOCKHOLDERS' DEFICIT |
|
|
Common stock, $.001 par value; 20,000,000 shares authorized; 6,150,000 shares issued and outstanding |
6,150
|
6,150
|
Additional paid-in capital |
47,050
|
47,050
|
Accumulated deficit |
(518,531)
|
(502,592)
|
Total stockholders' deficit |
(465,331)
|
(449,392)
|
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT |
$ 12,657
|
$ 16,157
|
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v3.24.1.u1
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|
Mar. 31, 2024 |
Dec. 31, 2023 |
Statement of Financial Position [Abstract] |
|
|
Common Stock, Par or Stated Value Per Share |
$ 0.001
|
$ 0.001
|
Common Stock, Shares Authorized |
20,000,000
|
20,000,000
|
Common Stock, Shares, Issued |
6,150,000
|
6,150,000
|
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6,150,000
|
6,150,000
|
X |
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v3.24.1.u1
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|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Income Statement [Abstract] |
|
|
Revenues |
|
|
Operating expenses |
|
|
General and administrative |
10,050
|
5,699
|
Total operating expenses |
10,050
|
5,699
|
Loss from operations |
(10,050)
|
(5,699)
|
Other expense |
|
|
Interest expense – related party |
(3,283)
|
(3,103)
|
Interest expense |
(2,606)
|
(2,606)
|
Total other expense |
(5,889)
|
(5,709)
|
Loss before income taxes |
(15,939)
|
(11,408)
|
Income tax expense |
|
|
Net loss |
$ (15,939)
|
$ (11,408)
|
Net loss per share – Basic and diluted |
$ (0.00)
|
$ (0.00)
|
Weighted average shares outstanding – Basic and diluted |
6,150,000
|
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v3.24.1.u1
Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($)
|
Common Stock [Member] |
Additional Paid-in Capital [Member] |
Retained Earnings [Member] |
Total |
Balance – December 31, 2023 at Dec. 31, 2022 |
$ 6,150
|
$ 47,050
|
$ (464,799)
|
$ (411,599)
|
Shares, Outstanding, Beginning Balance at Dec. 31, 2022 |
6,150,000
|
|
|
|
Net loss |
|
|
(11,408)
|
(11,408)
|
Balance – March 31, 2024 at Mar. 31, 2023 |
$ 6,150
|
47,050
|
(476,207)
|
(423,007)
|
Shares, Outstanding, Ending Balance at Mar. 31, 2023 |
6,150,000
|
|
|
|
Balance – December 31, 2023 at Dec. 31, 2023 |
$ 6,150
|
47,050
|
(502,592)
|
(449,392)
|
Shares, Outstanding, Beginning Balance at Dec. 31, 2023 |
6,150,000
|
|
|
|
Net loss |
|
|
(15,939)
|
(15,939)
|
Balance – March 31, 2024 at Mar. 31, 2024 |
$ 6,150
|
$ 47,050
|
$ (518,531)
|
$ (465,331)
|
Shares, Outstanding, Ending Balance at Mar. 31, 2024 |
6,150,000
|
|
|
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
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v3.24.1.u1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
Mar. 31, 2024 |
Mar. 31, 2023 |
Cash Flows from Operating Activities |
|
|
Net Loss |
$ (15,939)
|
$ (11,408)
|
Adjustment to reconcile net loss to cash used by operating activities: |
|
|
Expenses paid by related party |
1,500
|
1,500
|
Changes in operating assets and liabilities: |
|
|
Accounts payable |
5,050
|
|
Increase in accrued interest – related party |
3,283
|
3,103
|
Increase in accrued interest |
2,606
|
2,606
|
Net cash used by operating activities |
(3,500)
|
(4,199)
|
Cash Flows from Investing Activities |
|
|
Net cash provided by investing activities |
|
|
Cash Flows from Financing Activities |
|
|
Net cash provided by financing activities |
|
|
Increase in cash |
(3,500)
|
(4,199)
|
Cash at beginning of period |
16,157
|
22,055
|
Cash at end of period |
12,657
|
17,856
|
Supplemental Cash Flow Information: |
|
|
Cash paid for interest |
|
|
Cash paid for income taxes |
|
|
X |
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v3.24.1.u1
NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION
|
3 Months Ended |
Mar. 31, 2024 |
Accounting Policies [Abstract] |
|
NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION |
NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION
The accompanying unaudited condensed financial statements
have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information
and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed financial
statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for
a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate
to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with
the Company’s audited financial statements and notes thereto included in its December 31, 2023, Annual Report on Form 10-K. Operating
results for the three months ended March 31, 2024, are not necessarily indicative of the results to be expected for year ending December
31, 2024.
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- DefinitionThe entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
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v3.24.1.u1
NOTE 2 – GOING CONCERN
|
3 Months Ended |
Mar. 31, 2024 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
NOTE 2 – GOING CONCERN |
NOTE 2 – GOING CONCERN
The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative
cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and
it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue
as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It
is management’s plan to acquire or merge with other operating companies.
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v3.24.1.u1
NOTE 3 – RELATED PARTY TRANSACTIONS
|
3 Months Ended |
Mar. 31, 2024 |
Related Party Transactions [Abstract] |
|
NOTE 3 – RELATED PARTY TRANSACTIONS |
NOTE 3 – RELATED PARTY TRANSACTIONS
During the three months ended March 31, 2024, a shareholder,
invoiced the Company for consulting, administrative and professional services and out-of-pocket costs provided or paid on behalf of the
Company totaling $1,500, resulting in the Company owing the shareholder $7,500 and $6,000 at March 31, 2024, and December 31, 2023, respectively.
During the three months ended March 31, 2024, a shareholder
loaned the Company $0 by related parties. The notes bear interest at 8% and are due on demand. Notes payable – related party at
March 31, 2024, and December 31, 2023, were $164,125 and $164,125, respectively. Accrued interest at March 31, 2024, and December 31,
2023, was $93,436 and $90,153, respectively.
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v3.24.1.u1
NOTE 4 – Notes Payable
|
3 Months Ended |
Mar. 31, 2024 |
Debt Disclosure [Abstract] |
|
NOTE 4 – Notes Payable |
NOTE 4 – Notes Payable
During the three months ended March 31, 2024, the
Company was loaned $0. The notes bear interest at 8% and are due on demand. Notes payable from non-related parties at March 31, 2024,
and December 31, 2023, were $130,275 and $130,275, respectively. Accrued interest at March 31, 2024, and December 31, 2023, was $77,602
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- DefinitionThe entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
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v3.24.1.u1
NOTE 3 – RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)
|
3 Months Ended |
|
Mar. 31, 2024 |
Mar. 31, 2023 |
Dec. 31, 2023 |
Related Party Transactions [Abstract] |
|
|
|
Costs and Expenses, Related Party |
$ 1,500
|
$ 1,500
|
|
[custom:AccountsPayableRelatedPartiesCurrent1-0] |
$ 7,500
|
|
$ 6,000
|
Debt Instrument, Interest Rate During Period |
8.00%
|
|
|
[custom:NotesPayableRelatedPartiesClassifiedCurrent1-0] |
$ 164,125
|
|
164,125
|
Accrued Liabilities and Other Liabilities |
$ 93,436
|
|
$ 90,153
|
X |
- DefinitionAmount of expenses incurred but not yet paid nor invoiced, and liabilities classified as other.
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Cancer Capital (PK) (USOTC:CNCL)
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