0001130889 false true Q1 2024 --12-31 true true 0001130889 2024-01-01 2024-03-31 0001130889 2024-05-06 0001130889 2024-03-31 0001130889 2023-12-31 0001130889 2023-01-01 2023-03-31 0001130889 us-gaap:CommonStockMember 2022-12-31 0001130889 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001130889 us-gaap:RetainedEarningsMember 2022-12-31 0001130889 2022-12-31 0001130889 us-gaap:CommonStockMember 2023-12-31 0001130889 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001130889 us-gaap:RetainedEarningsMember 2023-12-31 0001130889 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001130889 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001130889 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001130889 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001130889 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001130889 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001130889 us-gaap:CommonStockMember 2023-03-31 0001130889 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001130889 us-gaap:RetainedEarningsMember 2023-03-31 0001130889 2023-03-31 0001130889 us-gaap:CommonStockMember 2024-03-31 0001130889 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001130889 us-gaap:RetainedEarningsMember 2024-03-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure

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)

 

 3 

 

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.

 

 4 

 

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.

 

 5 

 

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.

 

 6 

 

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.

 

 7 

 

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.

 

 8 

 

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.

 

 9 

 

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.

 

 10 

 

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.

 

 11 

 

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

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).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

 

 12 

 

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]    
Document Type 10-Q  
Amendment Flag false  
Document Quarterly Report true  
Document Transition Report false  
Document Period End Date Mar. 31, 2024  
Document Fiscal Period Focus 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  
Entity Address, Address Line Two Ste 300  
Entity Address, City or Town Salt Lake City  
Entity Address, State or Province UT  
Entity Address, Postal Zip Code 84111  
City Area Code (801)  
Local Phone Number 323-2395  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company true  
Elected Not To Use the Extended Transition Period false  
Entity Shell Company true  
Entity Common Stock, Shares Outstanding   6,150,000
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
v3.24.1.u1
Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares
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
Common Stock, Shares, Outstanding 6,150,000 6,150,000
v3.24.1.u1
Condensed Statements of Operations (Unaudited) - USD ($)
 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 6,150,000
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      
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
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.
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.
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.
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 and $74,996, respectively.
v3.24.1.u1
NOTE 5 – Subsequent Events
 3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
NOTE 5 – Subsequent Events

NOTE 5 – Subsequent Events

 
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
v3.24.1.u1
NOTE 4 – Notes Payable (Details Narrative) - USD ($)
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Debt Disclosure [Abstract]    
Proceeds from Notes Payable $ 0  
Debt Instrument, Interest Rate During Period 8.00%  
Notes Payable, Current $ 130,275 $ 130,275
Interest Payable, Current $ 77,602 $ 74,996
Cancer Capital (PK) (USOTC:CNCL)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Cancer Capital (PK) Charts.
Cancer Capital (PK) (USOTC:CNCL)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Cancer Capital (PK) Charts.