Form 10-Q - Quarterly report [Sections 13 or 15(d)]

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 June 30, 2023

 

☐

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.)
2157 S. Lincoln Street, Suite 200, Salt Lake City, Utah (Address of principal executive offices)	84106 (Zip code)

[phone]

(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 August 3,  2023 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

 

June 30, 2023

 

(Unaudited)

 

3

 

Cancer Capital Corp.

Condensed Balance Sheets

(Unaudited)

		JUNE 30, 2023				DEC 31, 2022
ASSETS
CURRENT ASSETS
Cash		$	16,456			$	22,055
Total current assets			16,456				22,055
TOTAL ASSETS		$	16,456			$	22,055
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable – related party		$	9,000			$	6,000
Notes payable – related party			155,125				155,125
Notes payable			130,275				130,275
Accrued interest – related party			83,886				77,680
Accrued interest			69,785				64,574
Total current liabilities			448,071				433,654
Total liabilities			448,071				433,654
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			(484,815	)			(464,799	)
Total stockholders' deficit			(431,615	)			(411,599	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT		$	16,456			$	22,055

 

 

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 JUNE 30, 2023				FOR THE THREE MONTHS ENDED JUNE 30, 2022				FOR THE SIX MONTHS ENDED JUNE 30, 2023				FOR THE SIX MONTHS ENDED JUNE 30, 2022
Revenues		$	—			$	—			$	—			$	—
Operating expenses
General and administrative			2,899				2,850				8,599				11,960
Total operating expenses			2,899				2,850				8,599				11,960
Loss from operations			(2,899	)			(2,850	)			(8,599	)			(11,960	)
Other expense
Interest expense – related party			(3,103	)			(2,903	)			(6,206	)			(5,805	)
Interest expense			(2,606	)			(2,505	)			(5,211	)			(4,691	)
Total other expense			(5,709	)			(5,408	)			(11,417	)			(10,496	)
Loss before income taxes			(8,608	)			(8,258	)			(20,016	)			(22,456	)
Income tax expense			—				—				—				—
Net loss		$	(8,608	)		$	(8,258	)		$	(20,016	)		$	(22,456	)
Net loss per share – Basic and diluted		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	(0.00	)
Weighted average shares outstanding – Basic and diluted			6,150,000				6,150,000				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 and six months ended June 30, 2023 and 2022

(Unaudited)

											Additional								Total
			Common Stock								Paid-in				Accumulated				Stockholders’
			Shares				Amount				Capital				Deficit				Deficit
Balance – December 31, 2021				6,150,000				6,150			$	47,050			$	(422,332	)		$	(369,132	)
Net loss for the three months ended March 31, 2022				—				—				—				(14,198	)			(14,198	)
Balance – March 31, 2022				6,150,000				6,150			$	47,050			$	(436,530	)		$	(383,330	)
Net loss for the three months ended June 30, 2022				—				—				—				(8,258	)			(8,258	)
Balance – June 30, 2022				6,150,000				6,150			$	47,050			$	(444,788	)		$	(391,588	)
Balance – December 31, 2022				6,150,000				6,150			$	47,050			$	(464,799	)		$	(411,599	)
Net loss for the three months ended March 31, 2023				—				—				—				(11,408	)			(11,408	)
Balance – March 31, 2023				6,150,000				6,150			$	47,050			$	(476,207	)		$	(423,007	)
Net loss for the six months ended June 30, 2023				—				—				—				(8,608	)			(8,608	)
Balance – June 30, 2023				6,150,000				6,150			$	47,050			$	(484,815	)		$	(431,615	)

 

 

 

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 SIX MONTHS ENDED JUNE 30, 2023				FOR THE SIX MONTHS ENDED JUNE 30, 2022
Cash Flows from Operating Activities
Net Loss		$	(20,016	)		$	(22,456	)
Adjustment to reconcile net loss to cash used by operating activities:
Expenses paid by related party			3,000				3,000
Changes in operating assets and liabilities:
Accounts payable			—				1,350
Increase in accrued interest – related party			6,206				5,806
Increase in accrued interest			5,211				4,691
Net cash used by operating activities			(5,599	)			(7,609	)
Cash Flows from Investing Activities
Net cash provided by investing activities			—				—
Cash Flows from Financing Activities
Proceeds from notes payable			—				28,000
Net cash provided by financing activities			—
Increase (decrease) in cash			(5,599	)			20,391
Cash at beginning of period			22,055				62
Cash at end of period		$	16,456			$	20,453
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)

June 30, 2023

 

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, 2022 Annual Report on Form 10-K. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for year ending December 31, 2023.

 

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 six months ended June 30, 2023, 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 $3,000 and 3,000, respectively, resulting in the Company owing the shareholder $9,000 and $6,000 at June 30, 2023 and December 31, 2022, respectively.

 

A shareholder loaned the Company funds in prior years. The notes bear interest at 8% and are due on demand. Notes payable – related party at June 30, 2023 and December 31, 2022 were $155,125 and $155,125, respectively. Accrued interest at June 30, 2023 and December 31, 2022 was $83,886 and $77,680, respectively.

 

NOTE 4 – NOTES PAYABLE

 

During the six months ended June 30, 2023 and 2022, the Company was loaned $0 and $28,000, respectively. The notes bear interest at 8% and are due on demand. Notes payable at June 30, 2023 and December 31, 2022 were $130,275 and $130,275, respectively. Accrued interest at June 30, 2023 and December 31, 2022 was $69,785 and $64,574, 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.

 

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 June 30, 2023, we had $16,456 cash and at December 31, 2022, we had $22,055. At June 30, 2023, total liabilities increased to $448,071 compared to $433,654 at December 31, 2022. 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.

 

9

 

Results of Operations

 

We did not record revenues in either 2023 or 2022. General and administrative expense for the six months ended June 30, 2023 (“2023 six-month period”) was $8,599 compared to $11,960 the six months ended June 30, 2022 (“2022 six-month period”). General and administrative expense for the three months ended June 30, 2023 (“2023 second quarter”) was $2,899 compared to $2,850 for the three months ended June 30, 2022 (“2022 second quarter”)

 

Total other expense increased to $11,417 for the 2023 six-month period compared to $10,496 for the 2022 six-month period. Total other expense increased to $5,709 for the 2023 second quarter compared to $5,408 for the 2022 second quarter. Total other expense represents interest expense related to notes payable and notes payable - related party.

 

Our net loss decreased to $20,016 for the 2023 six-month period compared to $22,456 for the 2022 six-month period. Our net loss increased $8,608 for the 2023 second quarter compared to $8,258 for the 2022 second quarter. Management expects net losses to continue until we acquire or merge with a business opportunity.

 

Commitments and Obligations

 

At June 30, 2023, we reported notes payable totaling $130,275 with accrued interest of $69,785. We recorded notes payable - related party totaling $155,125 with accrued interest of $83,886. All of the notes payable are non-collateralized, carry interest at 8% and are due on demand.

 

During the six months ended June 30, 2023, 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 $3,000 resulting in the Company owing the shareholder $9,000 at June 30, 2023.

 

As of June 30, 2023 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 June 30, 2023 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: August 3,  2023

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: August 3, 2023

/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: August 3, 2023

/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 June 30, 2023, 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: August 3, 2023

/s/ John W. Peters John W. Peters Principal Executive Officer Principal Financial Officer

Cover	6 Months Ended
	Jun. 30, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
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	2157 S. Lincoln Street
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84106
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

Condensed Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash	$ 16,456	$ 22,055
Total current assets	16,456	22,055
TOTAL ASSETS	16,456	22,055
CURRENT LIABILITIES
Accounts payable – related party	9,000	6,000
Notes payable – related party	155,125	155,125
Notes payable	130,275	130,275
Accrued interest – related party	83,886	77,680
Accrued interest	69,785	64,574
Total current liabilities	448,071	433,654
Total liabilities	448,071	433,654
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	(484,815)	(464,799)
Total stockholders' deficit	(431,615)	(411,599)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 16,456	$ 22,055

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues
Operating expenses
General and administrative	2,899	2,850	8,599	11,960
Total operating expenses	2,899	2,850	8,599	11,960
Loss from operations	(2,899)	(2,850)	(8,599)	(11,960)
Other expense
Interest expense – related party	(3,103)	(2,903)	(6,206)	(5,805)
Interest expense	(2,606)	(2,505)	(5,211)	(4,691)
Total other expense	(5,709)	(5,408)	(11,417)	(10,496)
Loss before income taxes	(8,608)	(8,258)	(20,016)	(22,456)
Income tax expense
Net loss	$ (8,608)	$ (8,258)	$ (20,016)	$ (22,456)
Net loss per share – Basic and diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average shares outstanding – Basic and diluted	6,150,000	6,150,000	6,150,000	6,150,000

Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance – December 31, 2022 at Dec. 31, 2021	$ 6,150	$ 47,050	$ (422,332)	$ (369,132)
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	6,150,000
Net loss			(14,198)	(14,198)
Balance – June 30, 2023 at Mar. 31, 2022	$ 6,150	47,050	(436,530)	(383,330)
Shares, Outstanding, Ending Balance at Mar. 31, 2022	6,150,000
Balance – December 31, 2022 at Dec. 31, 2021	$ 6,150	47,050	(422,332)	(369,132)
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	6,150,000
Net loss				(22,456)
Balance – June 30, 2023 at Jun. 30, 2022	$ 6,150	47,050	(444,788)	(391,588)
Shares, Outstanding, Ending Balance at Jun. 30, 2022	6,150,000
Balance – December 31, 2022 at Mar. 31, 2022	$ 6,150	47,050	(436,530)	(383,330)
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	6,150,000
Net loss			(8,258)	(8,258)
Balance – June 30, 2023 at Jun. 30, 2022	$ 6,150	47,050	(444,788)	(391,588)
Shares, Outstanding, Ending Balance at Jun. 30, 2022	6,150,000
Balance – December 31, 2022 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 – June 30, 2023 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, 2022 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				(20,016)
Balance – June 30, 2023 at Jun. 30, 2023	$ 6,150	47,050	(484,815)	(431,615)
Shares, Outstanding, Ending Balance at Jun. 30, 2023	6,150,000
Balance – December 31, 2022 at Mar. 31, 2023	$ 6,150	47,050	(476,207)	(423,007)
Shares, Outstanding, Beginning Balance at Mar. 31, 2023	6,150,000
Net loss			(8,608)	(8,608)
Balance – June 30, 2023 at Jun. 30, 2023	$ 6,150	$ 47,050	$ (484,815)	$ (431,615)
Shares, Outstanding, Ending Balance at Jun. 30, 2023	6,150,000

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net Loss	$ (20,016)	$ (22,456)
Adjustment to reconcile net loss to cash used by operating activities:
Expenses paid by related party	3,000	3,000
Changes in operating assets and liabilities:
Accounts payable		1,350
Increase in accrued interest – related party	6,206	5,806
Increase in accrued interest	5,211	4,691
Net cash used by operating activities	(5,599)	(7,609)
Cash Flows from Investing Activities
Net cash provided by investing activities
Cash Flows from Financing Activities
Proceeds from notes payable		28,000
Net cash provided by financing activities
Increase (decrease) in cash	(5,599)	20,391
Cash at beginning of period	22,055	62
Cash at end of period	16,456	20,453
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes

NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION	6 Months Ended
	Jun. 30, 2023
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, 2022 Annual Report on Form 10-K. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results to be expected for year ending December 31, 2023.

NOTE 2 – GOING CONCERN	6 Months Ended
	Jun. 30, 2023
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.

NOTE 3 – RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
NOTE 3 – RELATED PARTY TRANSACTIONS	NOTE 3 – RELATED PARTY TRANSACTIONS   During the six months ended June 30, 2023, 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 $3,000 and 3,000, respectively, resulting in the Company owing the shareholder $9,000 and $6,000 at June 30, 2023 and December 31, 2022, respectively.   A shareholder loaned the Company funds in prior years. The notes bear interest at 8% and are due on demand. Notes payable – related party at June 30, 2023 and December 31, 2022 were $155,125 and $155,125, respectively. Accrued interest at June 30, 2023 and December 31, 2022 was $83,886 and $77,680, respectively.

NOTE 4 – NOTES PAYABLE	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
NOTE 4 – NOTES PAYABLE	NOTE 4 – NOTES PAYABLE   During the six months ended June 30, 2023 and 2022, the Company was loaned $0 and $28,000, respectively. The notes bear interest at 8% and are due on demand. Notes payable at June 30, 2023 and December 31, 2022 were $130,275 and $130,275, respectively. Accrued interest at June 30, 2023 and December 31, 2022 was $69,785 and $64,574, respectively.

NOTE 5 – SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
NOTE 5 – SUBSEQUENT EVENTS	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.

NOTE 3 – RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transactions [Abstract]
Costs and Expenses, Related Party	$ 3,000	$ 3,000
[custom:AccountsPayableRelatedPartiesCurrent1-0]	$ 9,000		$ 6,000
Debt Instrument, Interest Rate During Period	8.00%	8.00%
[custom:NotesPayableRelatedPartiesClassifiedCurrent1-0]	$ 155,125		155,125
Accrued Liabilities and Other Liabilities	$ 83,886		$ 77,680

NOTE 4 – NOTES PAYABLE (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Disclosure [Abstract]
Proceeds from Notes Payable		$ 28,000
Debt Instrument, Interest Rate During Period	8.00%	8.00%
Notes Payable, Current	$ 130,275		$ 130,275
Interest Payable, Current	$ 69,785		$ 64,574

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