0001554795-14-000621.txt : 20141112 0001554795-14-000621.hdr.sgml : 20141111 20141112113700 ACCESSION NUMBER: 0001554795-14-000621 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20140930 FILED AS OF DATE: 20141112 DATE AS OF CHANGE: 20141112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CANCER CAPITAL CORP CENTRAL INDEX KEY: 0001130889 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 911803648 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-32363 FILM NUMBER: 141212404 BUSINESS ADDRESS: STREET 1: 2157 S. LINCOLN STREET 2: 2157 S. LINCOLN CITY: SALT LAKE CITY STATE: UT ZIP: 84106 BUSINESS PHONE: 8013232395 MAIL ADDRESS: STREET 1: 2157 S. LINCOLN STREET 2: 2157 S. LINCOLN CITY: SALT LAKE CITY STATE: UT ZIP: 84106 10-Q 1 cncl1107form10q.htm FORM 10-Q

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 September 30, 2014

 

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)

 

Nevada

(State or other jurisdiction of incorporation or organization)

91-1803648

(I.R.S. Employer Identification No.)

2157 S. Lincoln Street, Salt Lake City, Utah

(Address of principal executive offices)

84106

(Zip code)

 

(801) 323-2395

(Registrant’s telephone number, including area code)

 

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 and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). Yes ☑ No ☐ The registrant does not have a Web site.

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐

Non-accelerated filer ☐

Accelerated filer ☐

Smaller reporting company ☑

 

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 November 7, 2014 was 6,150,000.

 
 

TABLE OF CONTENTS

 

PART I - FINANCIAL INFORMATION
     
Item 1. Financial Statements (Unaudited) 2
  Condensed Balance Sheets (Unaudited) 3
  Condensed Statements of Operations (Unaudited) 4
  Condensed Statements of Cash Flows (Unaudited) 5
  Condensed Notes to the Unaudited Condensed Financial Statements  6
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 7
Item 3. Quantitative and Qualitative Disclosures about Market Risk 9
Item 4. Controls and Procedures 9
     
PART II - OTHER INFORMATION
     
Item 6. Exhibits 10
  Signatures 11

 
 

 

PART I – FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 

 

 

CANCER CAPITAL CORP.

 

Financial Statements

 

September 30, 2014

 

(Unaudited)

 

2
 

Cancer Capital Corp.

Condensed Balance Sheets

       
  

SEPT 30,

2014

 

DEC 31,

2013

   (Unaudited)   
       
ASSETS      
CURRENT ASSETS      
Cash  $2,137   $3,387 
Total current assets   2,137    3,387 
Total assets  $2,137   $3,387 
           
LIABILITIES AND STOCKHOLDERS' DEFICIT          
CURRENT LIABILITIES          
Accounts payable - related party  $27,600   $19,700 
Accounts payable   —      —   
Notes payable – related party   53,025    53,025 
Notes payable   64,525    60,225 
Accrued interest – related party   5,710    2,530 
Accrued interest   8,288    4,510 
Total current liabilities   159,148    139,990 
Total liabilities   159,148    139,990 
           
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   (210,211)   (189,803)
Total stockholders' deficit   (157,011)   (136,603)
Total liabilities and stockholders' deficit  $2,137   $3,387 

 

 

The accompany notes are an integral part of these financial statements.

3
 


Cancer Capital Corp.

Condensed Statements of Operations

(Unaudited)

             
   FOR THE THREE MONTHS ENDED
SEPT 30, 2014
  FOR THE THREE MONTHS ENDED
SEPT 30, 2013
  FOR THE NINE
MONTHS ENDED
SEPT 30, 2014
  FOR THE NINE
MONTHS ENDED
SEPT 30, 2013
             
Revenues  $—     $—     $—     $—   
             
Expenses            
     General and administrative   3,500    5,850    13,450    22,052 
     Total expenses   3,500    5,850    13,450    22,052 
                     
Net operating loss before other expense   (3,500)   (5,850)   (13,450)   (22,052)
                     
Other income (expense), non-operating                    
     Interest expense – related party   (1,060)   (655)   (3,180)   (1,875)
     Interest expense   (1,290)   (1,194)   (3,778)   (3,304)
     Total other income (expense)   (2,350)   (1,849)   (6,958)   (5,179)
                     
                     
Loss from operations before income taxes   (5,850)   (7,699)   (20,408)   (27,231)
                     
Income taxes   —      —      —      —   
                    
Net loss  $(5,850)  $(7,699)  $(20,408)  $(27,231)
                     
Basic and diluted net loss per share  $(0.00)  $(0.00)  $(0.00)  $(0.00)
                     
Weighted average shares outstanding   6,150,000    6,150,000    6,150,000    6,150,000 

 

 

The accompanying notes are an integral part of these financial statements.

4
 

Cancer Capital Corp.

Condensed Statements of Cash Flows

(Unaudited)

       
  

FOR NINE

MONTHS ENDED
SEPT 30, 2014

 

FOR NINE

MONTHS ENDED
SEPT 30, 2013

           
Cash Flows from Operating Activities          
Net Loss  $(20,408)  $(27,231)
Adjustment to reconcile net loss to cash provided (used) by operating activities:          
Expenses paid by related party   7,900    14,950 
Changes in operating assets and liabilities:          
Increase (decrease) in accounts payable and accrued expenses   —      (741)
Accrued interest – related party   3,180    1,875 
Accrued interest   3,778    3,164 
Net cash provided (used) by operating activities   (5,550)   (7,983)
           
Cash Flows from Investing Activities          
Net cash provided by investing activities   —      —   
           
Cash Flows from Financing Activities          
Cash advances – related party   —      4,500 
Proceeds from advances and notes payable   4,300    7,500 
Net cash provided by financing activities   4,300    12,000 
           
Increase (decrease) in cash   (1,250)   4,017 
           
Cash and cash equivalents at beginning of period   3,387    419 
           
Cash and cash equivalents at end of period  $2,137   $4,436 

 

 

The accompany notes are an integral part of these financial statements

5
 

Cancer Capital Corp.

Notes to the Financial Statements

(Unaudited)

September 30, 2014

 

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, 2013 Annual Report on Form 10-K. Operating results for the nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for year ending December 31, 2014.

 

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 – RECENT PRONOUNCEMENT

On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity;  (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements

 

NOTE 4 – 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.

6
 

In this report references to “Cancer Capital,” “the Company,” “we,” “us,” and “our” refer to Cancer Capital Corp.

 

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.

 

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

Executive Overview

 

We have not recorded revenues for the past two fiscal years 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 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 effect 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.

 

Management anticipates that the struggling global economy will restrict the number of business opportunities available to us and will restrict the cash available for such transactions. There can be no assurance in the current economy that we will be able to acquire an interest in an operating company.

 

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 to provide and pay for professional and operational expenses. At September 30, 2014 we had $2,137 cash compared to $3,387 at December 31, 2013. At September 30, 2014 total liabilities increased to $159,148 compared to $139,990 at December 31, 2013. This increase in total liabilities primarily represents an increase in loans payable, accrued interest, cash advances and accounts payable for consulting services and professional services provided by or paid for by a stockholder and third parties.

 

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.

 

7
 

Results of Operations

 

We did not record revenues in either 2013 or 2014. General and administrative expense decreased to $13,450 for the nine month period ended September 30, 2014 compared to $22,052 for the nine month period ended September 30, 2013. General and administrative expense decreased to $3,500 for the three month period ended September 30, 2014 compared to $5,850 for the three month period ended September 30, 2013. The decrease in general and administrative expense in the 2014 interim periods primarily reflects reduced consulting services relied upon for our operations.

 

Total other expense increased to $6,958 for the 2014 nine month period compared to $5,179 for the 2013 nine month period and increased to $2,350 for the 2014 third quarter compared to $1,849 for the 2013 third quarter. Total other expense represents accrued interest related to notes payable.

 

Our net loss decreased to $20,408 for the 2014 nine month period compared to $27,231 for the 2013 nine month period and decreased to $5,850 for the 2014 third quarter compared to $7,699 for the 2013 third quarter. Management expects net losses to continue until we acquire or merge with a business opportunity.

 

Commitments and Obligations

 

At September 30, 2014 we recorded notes payable totaling $117,550 representing services received, as well as cash advances received from related and third parties. All of the notes payable are non-collateralized, carry interest at 8% and are due on demand.

 

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.


Critical Accounting Policies

 

We qualify as an “emerging growth company” under the recently enacted Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, among other things, we will not be required to:

 

Have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;

 

Submit certain executive compensation matters to shareholder advisory votes, such as “say-on-pay” and “say-on-frequency”

 

Obtain shareholder approval of any golden parachute payments not previously approved; and

 

Disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the Chief Executives compensation to median employee compensation.

 

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.

 

We will remain an “emerging growth company” for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion; (ii) the date that we become a “large accelerated filer” as defined in Rule 12b-2 under the Securities Exchange Act of 1934, which would occur if the market value of our ordinary shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period.

8
 

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 ineffective 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 September 30, 2014 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

9
 

PART II – OTHER INFORMATION

 

ITEM 6. EXHIBITS

 

Part I Exhibits

No.   Description
31.1   Principal Executive Officer Certification
31.2   Principal Financial Officer Certification
32.1   Section 1350 Certification

 

Part II Exhibits

No.   Description
3(i)   Articles of Incorporation (Incorporated by reference to exhibit 3.1 to Form 10-SB, File No. 000-32363, filed February 20, 2001)
3(ii)   Bylaws of Cancer Capital (Incorporated by reference to exhibit 3.2 to Form 10-SB, File No. 000-32363, filed February 20, 2001)
101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Label Linkbase Document
101.PRE   XBRL Taxonomy Presentation Linkbase Document

10
 

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.

 

 

    CANCER CAPITAL CORP.
     
     
Date: November 12, 2014 By:   /s/ John W. Peters
    John W. Peters
    President and Director
    Principal Financial Officer

 

 

 

11

 

EX-31.1 2 cncl1107form10qexh31_1.htm EXHIBIT 31.1

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: November 12, 2014   /s/ John W. Peters
    John W. Peters
    Principal Executive Officer

 

EX-31.2 3 cncl1107form10qexh31_2.htm EXHIBIT 31.2

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: November 12, 2014   /s/ John W. Peters
    John W. Peters
    Principal Financial Officer

 

EX-32.1 4 cncl1107form10qexh32_1.htm EXHIBIT 32.1

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 September 30, 2014 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: November 12, 2014   /s/ John W. Peters
    John W. Peters
    Principal Executive Officer
    Principal Financial Officer

 

EX-101.INS 5 cncl-20140930.xml XBRL INSTANCE FILE 0001130889 2014-01-01 2014-09-30 0001130889 2014-11-07 0001130889 2014-09-30 0001130889 2013-12-31 0001130889 2014-07-01 2014-09-30 0001130889 2013-07-01 2013-09-30 0001130889 2013-01-01 2013-09-30 0001130889 2012-12-31 0001130889 2013-09-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares CANCER CAPITAL CORP 0001130889 10-Q 2014-09-30 false --12-31 No No Yes Smaller Reporting Company Q3 2014 6150000 2137 3387 419 4436 2137 3387 2137 3387 27600 19700 53025 53025 64525 60225 5710 2530 8288 4510 159148 139990 159148 139990 6150 6150 47050 47050 210211 189803 -157011 -136603 2137 3387 0.001 0.001 20000000 20000000 6150000 6150000 6150000 6150000 13450 3500 5850 22052 13450 3500 5850 22052 -13450 -3500 -5850 -22052 3180 1060 655 1875 3778 1290 1194 3304 6958 2350 1849 5179 -20408 -5850 -7699 -27231 -20408 -5850 -7699 -27231 0.00 -0.00 -0.00 0.00 6150000 6150000 6150000 6150000 7900 14950 -741 3180 1875 3778 3164 -5550 -7983 4500 4300 7500 4300 12000 -1250 4017 <p style="margin: 0pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 1 &#150; BASIS OF FINANCIAL STATEMENT PRESENTATION</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.75in">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 40pt; text-align: justify">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&#146;s audited financial statements and notes thereto included in its December 31, 2013 Annual Report on Form 10-K. Operating results for the nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for year ending December 31, 2014.</p> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">NOTE 2 &#150; GOING CONCERN</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 40pt; text-align: justify">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&#146;s plan to acquire or merge with other operating companies.</p> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0">NOTE 4 &#150; SUBSEQUENT EVENTS</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 40pt; text-align: justify">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.</p> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">NOTE 3 &#150; RECENT PRONOUNCEMENT</p> <p style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 40pt; text-align: justify"><font style="background-color: white">On June 10, 2014, the Financial Accounting Standards Board (&#34;FASB&#34;) issued update ASU 2014-10, Development Stage Entities (Topic 915).&#160;&#160;&#160;Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.&#160; In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders&#146; equity, (2) label the financial statements as those of a development stage entity;&#160; (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.&#160; The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.&#160; The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements</font></p> <p style="margin: 0pt"></p> EX-101.SCH 6 cncl-20140930.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Balance Sheets (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - BASIS OF FINANCIAL STATEMENT PRESENTATION link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - GOING CONCERN link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - RECENT PRONOUNCEMENT link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 cncl-20140930_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 cncl-20140930_def.xml XBRL DEFINITION FILE EX-101.LAB 9 cncl-20140930_lab.xml XBRL LABEL FILE Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] ASSETS CURRENT ASSETS Cash Total current assets Total assets LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable - related party Accounts payable Notes payable - related party Notes payable Accrued interest - related party Accrued interest Total current liabilities Total liabilities STOCKHOLDERS' EQUITY Common stock, $.001 par value; 20,000,000 shares authorized; 6,150,000 shares issued and outstanding Additional paid-in capital Deficit accumulated during the development stage Total stockholders' equity Total liabilities and stockholders' deficit Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Revenues Expenses General and administrative Total expenses Net operating loss before other expense Other income (expense), non-operating Interest expense - related party Interest expense Total other income (expense) Loss from operations before income taxes Income taxes Net loss Basic and diluted net loss per share Weighted average shares outstanding Statement of Cash Flows [Abstract] Cash Flows from Operating Activities Net loss Adjustments to reconcile net loss to cash provided (used) by operating activities: Expenses paid by related party Changes in assets and liabilities: Increase (decrease) in accounts payable and accrued expenses Accrued interest - related party Accrued interest Net cash provided (used) by operating activities Cash Flows from Investing Activities Net cash provided by investing activities Cash Flows from Financing Activities Cash advances - related party Proceeds from advances and notes payable Net cash provided by financing activities Increase (decrease) in cash Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Organization, Consolidation and Presentation of Financial Statements [Abstract] BASIS OF FINANCIAL STATEMENT PRESENTATION GOING CONCERN RECENT PRONOUNCEMENT Subsequent Events [Abstract] SUBSEQUENT EVENTS Assets, Current Assets Liabilities, Current Liabilities Development Stage Enterprise, Deficit Accumulated During Development Stage Stockholders' Equity Attributable to Parent Liabilities and Equity Costs and Expenses Operating Income (Loss) Interest Expense, Related Party Interest Expense Other Cost and Expense, Operating Income (Loss) from Continuing Operations before Income Taxes, Domestic Increase (Decrease) in Due to Other Related Parties Increase (Decrease) in Interest Payable, Net Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) EX-101.PRE 10 cncl-20140930_pre.xml XBRL PRESENTATION FILE EXCEL 11 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx 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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 4 – 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.

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RECENT PRONOUNCEMENT
9 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
RECENT PRONOUNCEMENT

NOTE 3 – RECENT PRONOUNCEMENT

On June 10, 2014, the Financial Accounting Standards Board ("FASB") issued update ASU 2014-10, Development Stage Entities (Topic 915).   Amongst other things, the amendments in this update removed the definition of development stage entity from Topic 915, thereby removing the distinction between development stage entities and other reporting entities from US GAAP.  In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information on the statements of income, cash flows and shareholders’ equity, (2) label the financial statements as those of a development stage entity;  (3) disclose a description of the development stage activities in which the entity is engaged and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage.  The amendments are effective for annual reporting periods beginning after December 31, 2014 and interim reporting periods beginning after December 15, 2015, however entities are permitted to early adopt for any annual or interim reporting period for which the financial statements have yet to be issued.  The Company has elected to early adopt these amendments and accordingly have not labeled the financial statements as those of a development stage entity and have not presented inception-to-date information on the respective financial statements

XML 17 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Balance Sheets (Unaudited) (USD $)
Sep. 30, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash $ 2,137 $ 3,387
Total current assets 2,137 3,387
Total assets 2,137 3,387
CURRENT LIABILITIES    
Accounts payable - related party 27,600 19,700
Accounts payable      
Notes payable - related party 53,025 53,025
Notes payable 64,525 60,225
Accrued interest - related party 5,710 2,530
Accrued interest 8,288 4,510
Total current liabilities 159,148 139,990
Total liabilities 159,148 139,990
STOCKHOLDERS' EQUITY    
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
Deficit accumulated during the development stage (210,211) (189,803)
Total stockholders' equity (157,011) (136,603)
Total liabilities and stockholders' deficit $ 2,137 $ 3,387
XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
BASIS OF FINANCIAL STATEMENT PRESENTATION
9 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
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, 2013 Annual Report on Form 10-K. Operating results for the nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for year ending December 31, 2014.

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GOING CONCERN
9 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
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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Condensed Balance Sheets (Parenthetical) (USD $)
Sep. 30, 2014
Dec. 31, 2013
Statement of Financial Position [Abstract]    
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 20,000,000 20,000,000
Common stock, shares issued 6,150,000 6,150,000
Common stock, shares outstanding 6,150,000 6,150,000
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Document and Entity Information
9 Months Ended
Sep. 30, 2014
Nov. 07, 2014
Document And Entity Information    
Entity Registrant Name CANCER CAPITAL CORP  
Entity Central Index Key 0001130889  
Document Type 10-Q  
Document Period End Date Sep. 30, 2014  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   6,150,000
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2014  
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Condensed Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
Revenues            
Expenses        
General and administrative 3,500 5,850 13,450 22,052
Total expenses 3,500 5,850 13,450 22,052
Net operating loss before other expense (3,500) (5,850) (13,450) (22,052)
Other income (expense), non-operating        
Interest expense - related party (1,060) (655) (3,180) (1,875)
Interest expense (1,290) (1,194) (3,778) (3,304)
Total other income (expense) (2,350) (1,849) (6,958) (5,179)
Loss from operations before income taxes (5,850) (7,699) (20,408) (27,231)
Income taxes            
Net loss $ (5,850) $ (7,699) $ (20,408) $ (27,231)
Basic and diluted net loss per share $ 0.00 $ 0.00 $ 0.00 $ 0.00
Weighted average shares outstanding 6,150,000 6,150,000 6,150,000 6,150,000
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Condensed Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows from Operating Activities    
Net loss $ (20,408) $ (27,231)
Adjustments to reconcile net loss to cash provided (used) by operating activities:    
Expenses paid by related party 7,900 14,950
Changes in assets and liabilities:    
Increase (decrease) in accounts payable and accrued expenses    (741)
Accrued interest - related party 3,180 1,875
Accrued interest 3,778 3,164
Net cash provided (used) by operating activities (5,550) (7,983)
Cash Flows from Investing Activities    
Net cash provided by investing activities      
Cash Flows from Financing Activities    
Cash advances - related party    4,500
Proceeds from advances and notes payable 4,300 7,500
Net cash provided by financing activities 4,300 12,000
Increase (decrease) in cash (1,250) 4,017
Cash and cash equivalents at beginning of period 3,387 419
Cash and cash equivalents at end of period $ 2,137 $ 4,436
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