| Organization and Nature of Operations | NOTE 1 ORGANIZATION AND NATURE OF OPERATIONS OncBioMune Pharmaceuticals, Inc. (formerly
Quint Media Inc.) (the Company, we, us or our) was incorporated under the
laws of the State of Nevada on March 18, 2005, as PediatRx, Inc. From July 23, 2010 until early fiscal year 2014, the Company engaged
in the pharmaceutical business. During the fiscal year ended February 28, 2014, the Company decided to divest itself of the balance
of its pharmaceutical assets and engage in the digital media business, which encompasses social discovery aspects of the internet,
primarily through an engagement website with mobile and tablet applications. On June 22, 2015 and amended and effective
on September 2, 2015, the Company entered into a share exchange agreement (the Exchange Agreement) with OncBioMune,
Inc. (ONC) and the shareholders of ONC. Pursuant to the Exchange Agreement, the Company acquired 100% of ONCs
issued and outstanding common stock from the ONC shareholders in exchange for the issuance of 47,000,000 shares of the Companys
common stock, representing 91.3% of the outstanding common stock, and 1,000,000 shares of the Companys Series A Preferred
Stock, representing 100% of the outstanding series A Preferred Stock, (the Exchange), after giving effect to a 1-for-139.2328
reverse stock split (the Reverse Stock Split) which resulted in 3,000,041 common shares outstanding prior to the
Exchange. Accordingly, the ONC shareholders became shareholders of the Company and ONC became a subsidiary of the Company. The
Exchange has been accounted for as a reverse-merger and recapitalization since the stockholders of ONC obtained voting and management
control of the Company. ONC is the acquirer for financial reporting purposes and the Company is acquired company. Consequently,
the assets and liabilities and the operations reflected in the historical financial statements prior to the Exchange are those
of ONC and was recorded at the historical cost basis of ONC, and the consolidated financial statements after completion of the
Share Exchange included the assets and liabilities of both the Company and ONC and the Companys consolidated operations
from the closing date of the Share Exchange. All share and per share data in the accompanying consolidated financial statements
have been retroactively restated to reflect the effect of the Reverse Stock Split and recapitalization. ONC was formed under the laws of the
State of Louisiana in March 2005 and is a biotechnology company specializing in innovative cancer treatment therapies. ONC has
proprietary rights to a breast and prostate patent vaccine, as well as a process for the growth of cancer tumors. ONCs mission
is to improve the overall patient condition through innovative bio immunotherapy with proven treatment protocols, to lower deaths
associated with cancer and reduce the cost of cancer treatment. ONCs technology is safe, and utilizes clinically research
proven methods of treatment to provide optimal success of patient recovery. On August 12, 2015, the Company filed
amended and restated Articles of Incorporation with the Nevada Secretary of State which:
a. changed the Companys name to OncBioMune Pharmaceuticals, Inc.,
b. amended the authorized shares of the Company to 520,000,000, of which 500,000,000 shares are common stock, with a par value of $0.0001 per share (Common Stock), and 20,000,000 shares are preferred stock, with a par value of $0.0001 per share (Preferred Stock), and
c. effected the Reverse Stock Split, which became effective on August 27, 2015. On August 20, 2015, the Company filed
the Certificate of Designation with the Nevada Secretary of State, designating 1,000,000 shares of the authorized 20,000,000 Preferred
Stock as Series A Preferred Stock (Series A Preferred Stock). Each holder of Series A Preferred Stock shall be entitled
to 500 votes for each share of Series A Preferred Stock held as of the applicable date on any matter that is submitted to a vote
or for the consent of the stockholders of the Company. The holders of Series A Preferred Stock shall have no special voting rights
and their consent shall not be required (except to the extent they are entitled to vote with holders of Common Stock as set forth
in the Certificate of Designation) for taking any corporate action. Basis of presentation of interim financial statements The Companys consolidated financial
statements include the financial statements of its wholly-owned subsidiary, ONC. All significant intercompany accounts and transactions
have been eliminated in consolidation Management acknowledges its responsibility
for the preparation of the accompanying unaudited condensed consolidated financial statements which reflect all adjustments, consisting
of normal recurring adjustments, considered necessary in its opinion for a fair statement of its financial position and the results
of its operations for the periods presented. The accompanying unaudited condensed consolidated financial statements of the Company
have been prepared in accordance with accounting principles generally accepted in the United States of America (the U.S.
GAAP) for interim financial information and with the instructions Article 8-03 of Regulation S-X. Operating results for
interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. Certain information
and note disclosure normally included in financial statements prepared in accordance with U.S. GAAP has been condensed or omitted
from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes
necessary for comprehensive financial statements These unaudited condensed financial statements should be read in conjunction with
the summary of significant accounting policies and notes to the financial statements for the years ended December 31, 2014 and
2013 of ONC which were included in the Companys definitive information statement on Schedule 14C as filed with the Securities
and Exchange Commission on August 6, 2015. Going concern These unaudited condensed consolidated financial
statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities
and commitments in the normal course of business. As reflected in the accompanying unaudited condensed consolidated financial statements,
the Company had a net loss of $221,250 and $73,030 for the three months ended September 30, 2015 and 2014, respectively, and a
net loss of $341,784 and $310,734 for the nine months ended September 30, 2015 and 2014, respectively. The net cash used in operations
were $378,559 and $340,961 for the nine months ended September 30, 2015 and 2014, respectively. Additionally, the Company had an
accumulated deficit of $480,607, at September 30, 2015, and no revenue for the nine months ended September 30, 2015. Effective
September 2, 2015, the Company entered into the exchange Agreement which changed the nature of its business and management. Management
cannot provide assurance that the Company will ultimately achieve profitable operations or become cash flow positive, or raise
additional debt and/or equity capital. Management believes that the Companys capital resources are not currently adequate
to continue operating and maintaining its business strategy for the fiscal year ending December 31, 2015. Use of estimates The preparation of the unaudited condensed
consolidated financial statements in conformity with generally accepted accounting principles in the United States of America 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 these estimates. Significant estimates during the nine months ended September 30, 2015
and December 31, 2014 include the valuation of deferred tax assets. Fair value of financial instruments
and fair value measurements The Company adopted the guidance of
Accounting Standards Codification (ASC) 820 for fair value measurements which clarifies the definition of fair value,
prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair
value as follows:
● Level 1-Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.
● Level 2-Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.
● Level 3-Inputs are unobservable inputs which reflect the reporting entitys own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying amounts reported in the
consolidated balance sheets for cash, employee loans, prepaid expenses, loans payable, line of credit payable, payroll liabilities,
and accounts payable and accrued liabilities, approximate their fair market value based on the short-term maturity of these instruments. The Company did not identify any assets
or liabilities that are required to be presented on the consolidated balance sheets at fair value in accordance with ASC Topic
820. ASC 825-10 Financial Instruments , Stock-based compensation Stock-based compensation is accounted
for based on the requirements of the Share-Based Payment Topic of ASC 718 which requires recognition in the financial statements
of the cost of employee and director services received in exchange for an award of equity instruments over the period the employee
or director is required to perform the services in exchange for the award (presumptively, the vesting period). The ASC also requires
measurement of the cost of employee and director services received in exchange for an award based on the grant-date fair value
of the award. Pursuant to ASC Topic 505-50, for share-based payments to consultants and other third-parties, compensation expense
is recognized over the service period of the award. Basic and diluted earnings per share Pursuant to ASC 260-10-45, basic earnings
per common share is computed by dividing income (loss) available to common shareholders by the weighted average number of shares
of common stock outstanding for the periods presented. Diluted income per share is computed by dividing net income (loss) by the
weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during
each period. Diluted income (loss) per share reflects the potential dilution that could occur if securities were exercised or converted
into common stock or other contracts to issue common stock resulting in the issuance of common stock that would then share in the
Companys income (loss) subject to anti-dilution limitations. Basic and diluted earnings per share
(continued) Potentially dilutive common shares consist
of common stock issuable for stock warrants (using the treasury stock method). These common stock equivalents may be dilutive in
the future .
September 30, 2015 December 31, 2014
Total stock warrants 2,694 -
Recent accounting pronouncements The Company has elected to early adopt Accounting
Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements.
The adoption of this ASU allows the company to remove the inception to date information and all references to development stage. In June 2014, the Financial Accounting Standards
Board (FASB) issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide
That a Performance Target Could Be Achieved after the Requisite Service Period In August 2014, FASB issued ASU 2014-15, Disclosure
of Uncertainties about an Entitys Ability to Continue as a Going Concern, Accounting standards that have been issued
or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial
statements upon adoption. The Company does not discuss recent pronouncements that are not anticipated to have an impact on or
are unrelated to its financial condition, results of operations, cash flows or disclosures. |
