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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q


[X]

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the quarterly period ended March 31, 2012


[  ]

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  [X]   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  [X]   No [  ]


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 [X]


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [X]   No [  ]


The number of shares outstanding of the registrant’s common stock as of May 1, 2012 was 6,150,000.




TABLE OF CONTENTS


PART I – FINANCIAL INFORMATION


Item 1.  Financial Statements

2

Condensed Balance Sheets

3

Condensed Statements of Operations

4

Condensed Statements of Cash Flows

5

Condensed Notes to the 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

8

Item 4.  Controls and Procedures

8


PART II – OTHER INFORMATION


Item 6.  Exhibits

9

Signatures

10



PART I – FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS


The financial information set forth below with respect to our statements of operations for the three month periods ended March 31, 2012 and 2011 is unaudited.  This financial information, in the opinion of management, includes all adjustments consisting of normal recurring entries necessary for the fair presentation of such data.  The results of operations for the three month period ended March 31, 2012, are not necessarily indicative of results to be expected for any subsequent period.  








CANCER CAPITAL CORP.


(A Development Stage Company)


Financial Statements

 

March 31, 2012







2




Cancer Capital Corp.

(A Development Stage Company)

Balance Sheets

 

 

 

 

 

 

 

 

 

MAR 31, 2012

 

DEC 31, 2011

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

     CURRENT ASSETS

 

 

 

 

 

          Cash

$

8,730

$

161

 

             Total current assets

 

8,730

 

161

 

             Total assets

$

8,730

$

161

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' DEFICIT

 

 

 

 

 

     CURRENT LIABILITIES

 

 

 

 

 

          Accounts payable - related party

$

34,125

$

28,250

 

          Accounts payable

 

56,626

 

44,156

 

             Total current liabilities

 

90,751

 

72,406

 

             Total liabilities

 

90,751

 

72,406

 

 

 

 

 

 

 

     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

 

          Deficit accumulated during the development stage

 

(135,221)

 

(125,445)

 

             Total stockholders' deficit

 

(82,021)

 

(72,245)

 

             Total liabilities and stockholders' deficit

$

8,730

$

161



The accompany notes are an integral part of these financial statements




3




Cancer Capital Corp.

(Development Stage Company)

Statements of Operations

(Unaudited)


 

 

 

 

 

 

 

 

 

 

 

FOR THREE MONTHS ENDED

MAR 31, 2012

 

FOR THREE MONTHS ENDED

MAR 31, 2011

 

FROM INCEPTION ON APR 11, 1997 TO MAR 31, 2012

 

 

 

 

 

 

 

 

Revenues

$

0

$

0

$

0

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

      General and administrative

 

9,776

 

3,416

 

135,221

 

            Total expenses

 

9,776

 

3,416

 

135,221

 

 

 

 

 

 

 

 

 

Net operating loss

 

(9,776)

 

(3,416)

 

(135,221)

 

 

 

 

 

 

 

 

 

Loss before taxes

 

(9,776)

 

(3,416)

 

(135,221)

 

 

 

 

 

 

 

 

 

Taxes

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

Net loss

$

(9,776)

$

(3,416)

$

(135,221)

 

 

 

 

 

 

 

 

 

Net loss per share

$

(0.00)

$

(0.00)

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

6,150,000

 

6,150,000

 

 




The accompany notes are an integral part of these financial statements





4




Cancer Capital Corp.

(A Development Stage Company)

Statements of Cash Flows

(Unaudited)


 

 

 

 

 

 

 

 

 

 

 

FOR THREE MONTHS ENDED

MAR 31, 2012

 

FOR THREE MONTHS ENDED

MAR 31, 2011

 

FROM INCEPTION ON APR 11, 1997 TO

MAR 31, 2012

 

 

 

 

 

 

 

 

Cash Flows from Operating Activities

 

 

 

 

 

 

 

     Net Loss

$

(9,776)

$

(3,416)

$

(135,221)

 

     Adjustment to reconcile net loss to cash provided (used) by

     operating activities:

 

 

 

 

 

 

 

         Common stock issued for services rendered

 

0

 

0

 

17,200

 

     Changes in assets and liabilities:

 

 

 

 

 

 

 

         Increase in accounts payable and accrued expenses

 

18,345

 

8,000

 

90,751

 

     Net cash provided (used) by operating activities

 

8,569

 

4,584

 

(27,270)

 

 

 

 

 

 

 

 

 

Cash Flows from Investing Activities

 

 

 

 

 

 

 

     Net cash provided by investing activities

 

0

 

0

 

0

 

 

 

 

 

 

 

 

 

Cash Flows from Financing Activities

 

 

 

 

 

 

 

     Common stock issued for cash

 

0

 

0

 

36,000

 

     Net cash provided by financing activities

 

0

 

0

 

36,000

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash

 

8,569

 

4,584

 

8,730

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of period

 

161

 

2,007

 

0

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at end of period

$

8,730

$

6,591

$

8,730

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Information:

 

 

 

 

 

 

 

    Cash paid for interest

$

0

$

0

$

0

 

    Cash paid for income taxes

$

0

$

0

$

0

 

 

 

 

 

 

 

 

 

Non-Cash Investing and Financing Activities

 

 

 

 

 

 

 

     Stock issued for services

$

0

$

0

$

17,200





The accompany notes are an integral part of these financial statements





5




  Cancer Capital Corp.

(A Development Stage Company)

Notes to the Financial Statements

March 31, 2012



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, 2011 Annual Report on Form 10-K.  Operating results for the three months ended March 31, 2012 are not necessarily indicative of the results to be expected for year ending December 31, 2012.


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.                            







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 are a development stage company and have not recorded revenues for the past two fiscal years.  At March 31, 2012 we had cash of $8,730 and total liabilities of $90,751.  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.




7




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.  We have not established an ongoing source of revenue sufficient to cover our operating costs and we have relied primarily upon related parties to provide and pay for professional and operational expenses.  At March 31, 2012 we had $8,730 cash compared to $161 cash at December 31, 2011 and the increase is primarily related to proceeds from additional loans.   At March 31, 2012 total liabilities increased to $90,751compared to $72,406 at December 31, 2011 and this increase primarily represents additional loans of $10,000, bearing 8% interest, and accounts payable of $8,345 for professional services provided by or paid for by a related party.  


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 revenues in either of the three month periods ended March 31, 2012 and 2011 (“first quarter”).  General and administrative expense increased from $3,416 for the 2011first quarter compared to $9,776 for the 2012 first quarter and reflects increased costs relating to professional services and increased audit fees. Accordingly, our net loss increased from $3,416 for the 2011 first quarter compared to $9,776 for the 2012 first quarter.


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.



ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK


Not applicable to smaller reporting companies.





8




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 March 31, 2012  that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.


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 of Form 10-SB, File No. 000-32363, filed February 20, 2001)

3(ii)

Bylaws of Cancer Capital (Incorporated by reference to exhibit 3.2 of 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.CAL

XBRL Taxonomy Extension Definition Linkbase Document

101.LAB

XBRL Taxonomy Label Linkbase Document

101.PRE

XBRL Taxonomy Presentation Linkbase Document



9




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 9, 2012

CANCER CAPITAL CORP.



By:  /s/ John W. Peters

            John W. Peters

            President and Director

            Principal Financial Officer




10