Cancer Capital (CNCL) 10-K 19 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 19, 2019	Jun. 30, 2018
Document And Entity Information
Entity Registrant Name	CANCER CAPITAL CORP
Entity Central Index Key	0001130889
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Is Entity Emerging Growth Company?	true
Elected Not To Use the Extended Transition Period	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		6,150,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018
Entity Shell Company	true

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current Assets
Cash	$ 168	$ 315
Total current assets	168	315
Total assets	168	315
Current Liabilities
Accounts payable - related party	6,600	6,600
Accounts payable	1,100
Notes payable – related party	112,825	100,525
Notes payable	82,575	82,575
Accrued interest – related party	34,948	26,629
Accrued interest	34,211	27,607
Total current liabilities	272,259	243,936
Total liabilities	272,259	243,936
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	(325,291)	(296,821)
Stotal stockholders' deficit	(272,091)	(243,621)
Total liabilities and stockholders' deficit	$ 168	$ 315

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	20,000,000	20,000,000
Common stock, issued	6,150,000	6,150,000
Common stock, outstanding	6,150,000	6,150,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
REVENUES
EXPENSES
General and administrative	13,547	13,410
Total expenses	13,547	13,410
Loss from operations before other expense	(13,547)	(13,410)
Other income (expense) non-operating
Interest expense - related party	(8,319)	(7,379)
Interest expense	(6,604)	(6,464)
Total other expense	(14,923)	(13,843)
Loss from operations before taxes	(28,470)	(27,253)
Taxes
Net loss	$ (28,470)	$ (27,253)
Net loss per share	$ 0	$ 0
Weighted average shares outstanding	6,150,000	6,150,000

Statement of Stockholders_ Defi

Statement of Stockholders’ Deficit - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2016	6,150,000
Beginning balance, amount at Dec. 31, 2016	$ 6,150	$ 47,050	$ (269,568)	$ (216,368)
Net income (loss)			(27,253)	(27,253)
Ending balance, shares at Dec. 31, 2017	6,150,000
Ending balance, amount at Dec. 31, 2017	$ 6,150	47,050	(296,821)	(243,621)
Net income (loss)			(28,470)	(28,470)
Ending balance, shares at Dec. 31, 2018	6,150,000
Ending balance, amount at Dec. 31, 2018	$ 6,150	$ 47,050	$ (325,291)	$ (272,091)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net Loss	$ (28,470)	$ (27,253)
Adjustments to reconcile net loss to cash provided (used) by operating activities:
Expenses paid by related party	6,600	6,600
Changes in assets and liabilities:
Accounts payable	1,100
Accrued interest - related party	8,319	7,379
Accrued interest	6,604	6,464
Net cash provided (used) by operating activities	(5,847)	(6,810)
Cash Flows from Investing Activities
Net cash used by investing activities
Cash Flows from Financing Activities
Proceeds from note payable - related party	5,700	2,000
Proceeds from advances and notes payable		4,500
Net cash provided by financing activities	5,700	6,500
Increase (decrease) in cash	(147)	(310)
Cash and cash equivalents at beginning of year	315	625
Cash and cash equivalents at end of year	168	315
Supplemental Cash Flow Information:
Cash paid for interest
Cash paid for income taxes
Non-Cash Investing and Financing Activities
Converted related party accounts payable and advances into notes payable - related party	$ 6,600	$ 6,900

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization & Summary of Significant Accounting Policies a. Cancer Capital Corp. (the Company), was incorporated April 11, 1997 under the laws of the State of Nevada. The Company was originally formed for the purpose of developing an alternative medical waste treatment system. However, the Company, in December 1997, minimized this purpose and since that time its efforts have been directed more to raising capital, development of the Company’s business plan, SEC filings and other limited operations. b. Loss Per Share The computation of earnings per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements. There are no potentially dilutive common stock equivalents. For the Years Ended 2018 2017 Net Loss $ (28,470 ) $ (27,253 ) Weighted Average Number of Shares Outstanding 6,150,000 6,150,000 Basic Loss per Common Share $ (0.00 ) $ (0.00 ) c. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. d. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. e. Concentrations of Risk As of December 31, 2018, two lenders represent in excess of 95% of the Company’s Accounts Payable and Notes Payable for the fiscal years ended December 31, 2018 and December 31, 2017.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 2 - INCOME TAXES The Financial Accounting Standards Board (FASB) has issued ASC 740-10 which requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than- not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. As a result of the implementation of this standard, the Company performed a review of its material tax positions in accordance with recognition and measurement standards established by FASB ASC 740-10. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry-forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company currently has no issues creating timing differences that would mandate deferred tax expense. Net operating losses would create possible tax assets in future years. Due to the uncertainty of the utilization of net operating loss carry forwards, a valuation allowance has been made to the extent of any tax benefit that net operating losses may generate. A provision for income taxes has not been made due to net operating loss carry-forwards of $325,291 and $296,821 as of December 31, 2018 and December 31, 2017, respectively, which may be offset against future taxable income through 2037. No tax benefit has been reported in the financial statements. The Company has evaluated Staff Accounting Bulletin No. 118 regarding the impact of the decreased tax rates of the Tax Cuts & Jobs Act. The schedules below reflect the Federal tax provision, deferred tax asset and valuation allowance using the new rates adjusted in the period of enactment. Deferred tax assets and the valuation account are as follows: For the Years Ended 2018 2017 Net operating loss carryforward (at 21%) $ 68,311 $ 62,332 Valuation allowance (68,311 ) (62,332 ) Deferred tax asset $ — $ — A reconciliation of amounts obtained by applying the Federal tax rate to pre-tax income to income tax benefit is as follows: For the Years Ended 2018 2017 Federal tax benefit (at 21%) $ 5,979 $ 5,723 Change in valuation allowance (5,979 ) 29,321 Effect of rate change on Deferred Tax Asset — (35,044 ) $ — $ — The Company did not have any tax positions for which it is reasonably possible that the total amount of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operations in the provision for income taxes. As of December 31, 2018 and 2017, the Company had no accrued interest or penalties related to uncertain tax positions. The tax years that remain subject to examination by major taxing jurisdictions are those for the years ended December 31, 2018, 2017, 2016 and 2015.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 - 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 a negative working capital of $272,091 and has incurred losses of $325,291 since inception. 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.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Notes Payable	NOTE 4 - NOTES PAYABLE Notes payable - unrelated parties as of December 31, 2018 and 2017 are $82,575. The Notes bear interest at 8% and are due on demand. Accrued interest non-related party was $34,211 and $27,607 at December 31, 2018 and 2017, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 5 - RELATED PARTY TRANSACTIONS During the years ended December 31, 2018 and 2017, the Company incurred $6,600 and $6,600, respectively, for consulting, administrative, and professional services provided by a shareholder. In 2018 the 2017 accounts payable of $6,600 and $6,900, respectively, were converted into Notes payable – related party. The shareholder advanced $5,700 and $2,000 during 2018 and 2017, respectively, resulting in Notes payable – related party at December 31, 2018 and 2017 of $112,825 and $100,525, respectively. Accrued interest on these notes at December 31, 2018 and 2017 was $34,948 and $26,629, respectively. The notes bear interest at 8% and are due on demand.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
STOCKHOLDERS' DEFICIT
Stockholders' Equity	NOTE 6– STOCKHOLDERS’ EQUITY There was no stock issued during 2018 and 2017.

Recent Pronouncements

Recent Pronouncements	12 Months Ended
	Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recent Pronouncements	NOTE 7 - RECENT PRONOUNCEMENTS The Company has evaluated Recent Accounting Pronouncements and has determined that all such pronouncements either do not apply or their impact is insignificant to the financial statements.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 8 – FAIR VALUE MEASUREMENTS If required by authoritative literature, the Company would account for certain assets and liabilities at fair value. The cash, accounts payable, notes payable and accrued interest have fair values that approximate their carrying values due to the short term nature of these instruments.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 – 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Organization & Summary of Significant Accounting Policies	Organization & Summary of Significant Accounting Policies a. Cancer Capital Corp. (the Company), was incorporated April 11, 1997 under the laws of the State of Nevada. The Company was originally formed for the purpose of developing an alternative medical waste treatment system. However, the Company, in December 1997, minimized this purpose and since that time its efforts have been directed more to raising capital, development of the Company’s business plan, SEC filings and other limited operations.
Loss Per Share	b. Loss Per Share The computation of earnings per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements. There are no potentially dilutive common stock equivalents. For the Years Ended 2018 2017 Net Loss $ (28,470 ) $ (27,253 ) Weighted Average Number of Shares Outstanding 6,150,000 6,150,000 Basic Loss per Common Share $ (0.00 ) $ (0.00 )
Cash and Cash Equivalents	c. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents.
Use of estimates	d. Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Concentrations of Risk	e. Concentrations of Risk As of December 31, 2018, two lenders represent in excess of 95% of the Company’s Accounts Payable and Notes Payable for the fiscal years ended December 31, 2018 and December 31, 2017.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Computation of earnings per share of common stock	For the Years Ended 2018 2017 Net Loss $ (28,470 ) $ (27,253 ) Weighted Average Number of Shares Outstanding 6,150,000 6,150,000 Basic Loss per Common Share $ (0.00 ) $ (0.00 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Deferred tax asset and valuation account	For the Years Ended 2018 2017 Net operating loss carryforward (at 21%) $ 68,311 $ 62,332 Valuation allowance (68,311 ) (62,332 ) Deferred tax asset $ — $ —
Reconciliation of pre-tax income to income tax benefit by Federal tax rates	For the Years Ended 2018 2017 Federal tax benefit (at 21%) $ 5,979 $ 5,723 Change in valuation allowance (5,979 ) 29,321 Effect of rate change on Deferred Tax Asset — (35,044 ) $ — $ —

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Computation of earnings per share of common stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Net Loss	$ (28,470)	$ (27,253)
Weighted Average Number of Shares Outstanding	6,150,000	6,150,000
Basic Loss per Common Share	$ 0	$ 0

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Narrative)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summary Of Significant Accounting Policies
Accounts payable and notes payable minimum concentration risk of two lenders	95.00%	95.00%

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax asset and valuation account (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net operating loss carryforward (at 21%)	$ 68,311	$ 62,332
Valuation allowance	(68,311)	(62,332)
Deferred tax asset

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of pre-tax income to income tax benefit by Federal tax rates (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal tax benefit (at 21%)	$ 5,979	$ 5,723
Change in valuation allowance	(5,979)	29,321
Effect of rate change on Deferred Tax Asset		(35,044)
Total

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net operating loss carry-forwards	$ 325,291	$ 296,821

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital	$ (272,091)
Accumulated deficit	$ (325,291)	$ (296,821)

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Notes payable - unrelated parties	$ 82,575	$ 82,575
Interest rate on accounts payable-converted note	8.00%	8.00%
Accrued interest non-related party	$ 34,211	$ 27,607

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Professional services, consulting and administrative costs due to shareholder	$ 6,600	$ 6,600
Notes payable - related party	112,825	100,525
Accrued interest on notes payable - related party	$ 34,948	$ 26,629
Interest rate on notes payable - related party	8.00%	8.00%