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Cantabio Pharmaceuticals (CTBO) Inactive 10-Q/A30 Nov 152016 Q2 Quarterly report (amended)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	6 Months Ended
Document and Entity Information	Sep. 30, 2015shares
Document and Entity Information
Entity Registrant Name	Cantabio Pharmaceuticals Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Entity Central Index Key	1,550,518
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding	4,850,000
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	ctbo

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2015	Mar. 31, 2015
Current Assets
Cash
Prepayments and other current assets	$ 4,253
Total Current Assets	4,253
TOTAL ASSETS	4,253
Current Liabilities
Accrued expenses and other current liabilities	1,984	$ 18,584
Loan payable - related party	38,809	8,804
Total Current Liabilities	40,793	27,388
TOTAL LIABILITIES	40,793	27,388
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock value	4,850	4,850
Additional paid-in capital	122,271	113,467
Accumulated deficit	(163,661)	(145,705)
Total Stockholders' Equity (Deficit)	(36,540)	$ (27,388)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 4,253

Balance Sheets (parenthetical)

Balance Sheets (parenthetical) - $ / shares	Sep. 30, 2015	Mar. 31, 2015
Balance Sheet
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	4,850,000	4,850,000
Common stock, shares outstanding	4,850,000	4,850,000

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
Statements of Operations - USD ($)	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement
Revenues
Operating Expenses
Professional fees	$ 12,215	$ 14,243	$ 17,583	$ 17,049
General and administrative expenses	373	12	373	221
Total operating expenses	12,588	14,255	17,956	17,270
Income (loss) from operations	$ (12,588)	$ (14,255)	$ (17,956)	$ (17,270)
Income tax provision
Net income (loss)	$ (12,588)	$ (14,255)	$ (17,956)	$ (17,270)
Net income (loss) per common share - basic and diluted	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding - basic and diluted	4,850,000	4,850,000	4,850,000	4,850,000

Statements of Stockholders' Equ

Statements of Stockholders' Equity - 6 months ended Sep. 30, 2015 - USD ($)	Common Shares	Additional Paid-in Capital	Accumulated Deficit	Total Stockholders' Equity
Beginning Balance, shares at Mar. 31, 2015	4,850,000
Beginning Balance, amount at Mar. 31, 2015	$ 4,850	$ 113,467	$ (145,705)	$ (27,388)
Contributed capital at Sep. 30, 2015		8,804		8,804
Net income (loss) for the period			(17,956)	(17,956)
Ending Balance, shares at Sep. 30, 2015	4,850,000
Ending Balance, amount at Sep. 30, 2015	$ 4,850	$ 122,271	$ (163,661)	$ (36,540)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	6 Months Ended
Statements of Cash Flows - USD ($)	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (17,956)	$ (17,270)
Adjustments to reconcile net loss to net cash used by operating activities:
Prepayments and other current assets	(4,253)
Accrued expenses and other current liabilities	(16,600)	6,803
Net cash used in operating activities	(38,809)	(10,467)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party loan	38,809	5,900
Net cash provided by financing activities	$ 38,809	5,900
Net increase (decrease) in cash		(4,567)
Cash, beginning of period		$ 4,567
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION
Interest paid
Income tax paid

Nature of Operations

Nature of Operations	6 Months Ended
Nature of Operations	Sep. 30, 2015
Notes
Nature of Operations	NOTE 1 - NATURE OF OPERATIONS Cantabio Pharmaceuticals, Inc. (the Company) was formed on February 6, 2012 in the State of Delaware. The Company will engage primarily in serving the comprehensive needs of businesses in the full range of the business cycle through providing professional consulting services. The Company initially intends to focus on providing services to start-up businesses in order to establish a relationship with younger operations and continue to nurture those relationships over the long term. Currently the Company is engaged in raising capital and entering into relationships in furtherance of its planned activities.

Condensed Financial Statements

Condensed Financial Statements	6 Months Ended
Condensed Financial Statements	Sep. 30, 2015
Notes
Condensed Financial Statements	NOTE 2 - CONDENSED FINANCIAL STATEMENTS The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial positions, results of operations, and cash flows on September 30, 2015, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys March 30, 2015 audited financial statements. The results of operations for the six months ended September 30, 2015 are not necessarily indicative of the operating results for the full year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2015
Notes
Summary of Significant Accounting Policies	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (GAAP accounting). The Company has adopted a March 31 fiscal year end. Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. Fair Value of Financial Instruments The Company's financial instruments consist of cash and cash equivalents, prepaid expenses, stock subscription receivable, accrued expenses, and a loan payable to a related party. The carrying amounts of these financial instruments approximate fair value due either to length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents. Concentrations of Credit Risk The Company maintains its cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. The Company continually monitors its banking relationships and consequently has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles of the United States 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 year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates. Revenue Recognition The Company has yet to realize significant revenues from operations and is still in the development stage. The Company recognizes revenues when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is reasonably assured. Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. It is the Companys policy to classify interest and penalties on income taxes as interest expense or penalties expense. As of September 30, 2015, there have been no interest or penalties incurred on income taxes. Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Companys net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Companys net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of September 30, 2015. Stock-Based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation - Stock Compensation The Company follows ASC Topic 505-50, formerly EITF 96-18, Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during the periods shown. Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow.

Prepaid Expenses Disclosure

Prepaid Expenses Disclosure	6 Months Ended
Prepaid Expenses Disclosure	Sep. 30, 2015
Notes
Prepaid Expenses Disclosure	NOTE 4 - PREPAID EXPENSES Prepaid expenses of $4,253 at September 30, 2015 consist of prepaid legal fees. There were no prepayments at March 31, 2015.

Accrued Expenses Disclosure

Accrued Expenses Disclosure	6 Months Ended
Accrued Expenses Disclosure	Sep. 30, 2015
Notes
Accrued Expenses Disclosure	NOTE 5 - ACCRUED EXPENSES Accrued expenses of $1,984 at June 30, 2015 consisted of $284 payable to the a stock transfer agent, and $1,700 payable to an audit firm for services rendered for periods reported on in these financial statements. Accrued expenses of $18,584 at March 31, 2015 consisted of $696 payable to the a stock transfer agent, $16,188 payable to a law firm, and $1,700 payable to an audit firm for services rendered for periods reported on in these financial statements.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Sep. 30, 2015
Notes
Related Party Transactions	NOTE 6 - RELATED PARTY TRANSACTIONS A shareholder and officer had loaned funds to the Company to pay certain expenses. The loans were unsecured, non-interest bearing, and had no specific terms of repayment. During the quarter to September 30, 2015 the balance of loans, totaling $8,804 was forgiven and set aside by the lender. An officer of the company has loaned funds to the Company to pay certain expenses. The loans were unsecured, non-interest bearing, and had no specific terms of repayment. As of September 30, 2015 the balance of loans was $38,809.

Capital Stock Disclosure

Capital Stock Disclosure	6 Months Ended
Capital Stock Disclosure	Sep. 30, 2015
Notes
Capital Stock Disclosure	NOTE 7 - CAPITAL STOCK The Company was incorporated on February 6, 2012 in Delaware with authorized capital of 2,000,000 shares of $0.001 par value common stock. In April, 2012 the Company amended its Certificate of Incorporation to authorize 100,000,000 shares of $0.001 par value common stock. On February 23, 2012, the Company issued 2,500,000 shares of common stock to the founder for cash proceeds of $25,000. During the year ended March 31, 2013 the Company issued 1,150,000 shares of common stock at $0.02 per share for total cash proceeds of $23,000. During the year ended March 31, 2014 the Company issued 1,200,000 shares of common stock at $0.02 per share for total cash proceeds of $24,000.

Commitments and Contingencies D

Commitments and Contingencies Disclosure	6 Months Ended
Commitments and Contingencies Disclosure	Sep. 30, 2015
Notes
Commitments and Contingencies Disclosure	NOTE 8 - COMMITMENTS AND CONTINGENCIES The Company neither owns nor leases any real or personal property. The officers of the company have provided office services without charge. There is no obligation for the officers to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. Effective May 1, 2013 the Company has entered into an agreement with its founder and majority shareholder which provides for management services to the Company by the shareholder. The agreement stipulates a monthly fee of $5,000 to the shareholder and has no specific termination date. On July 1, 2014, effective March 31, 2014, the Company cancelled the agreement and the shareholder forgave accrued fees of $30,000 related to the agreement.

Liquidity and Going Concern

Liquidity and Going Concern	6 Months Ended
Liquidity and Going Concern	Sep. 30, 2015
Notes
Liquidity and Going Concern	NOTE 9 - LIQUIDITY AND GOING CONCERN The accompanying financial statements have been prepared in conformity with generally accepted accounting principle, which contemplate continuation of the Company as a going concern. However, the Company had no revenues as of September 30, 2015. The Company currently has negative working capital, and has not completed its efforts to establish a stabilized source of revenues sufficient to cover operating costs over an extended period of time. Management anticipates that the Company will be dependent, for the near future, on additional investment capital to fund operating expenses The Company intends to position itself so that it may be able to raise additional funds through the capital markets. In light of managements efforts, there are no assurances that the Company will be successful in this or any of its endeavors or become financially viable and continue as a going concern.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Sep. 30, 2015
Notes
Subsequent Events	NOTE 10 - SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to September 30, 2015 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements other than the events described above.

Summary of Significant Accoun17

Summary of Significant Accounting Policies: Accounting Basis and Basis of Presentation (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Accounting Basis and Basis of Presentation	Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (GAAP accounting). The Company has adopted a March 31 fiscal year end. Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.

Summary of Significant Accoun18

Summary of Significant Accounting Policies: Fair Value of Financial Instruments Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Fair Value of Financial Instruments Policy	Fair Value of Financial Instruments The Company's financial instruments consist of cash and cash equivalents, prepaid expenses, stock subscription receivable, accrued expenses, and a loan payable to a related party. The carrying amounts of these financial instruments approximate fair value due either to length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements.

Summary of Significant Accoun19

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Cash and Cash Equivalents Policy	Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents.

Summary of Significant Accoun20

Summary of Significant Accounting Policies: Concentrations of Credit Risk Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Concentrations of Credit Risk Policy	Concentrations of Credit Risk The Company maintains its cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. The Company continually monitors its banking relationships and consequently has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.

Summary of Significant Accoun21

Summary of Significant Accounting Policies: Use of Estimates Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Use of Estimates Policy	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles of the United States 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 year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates.

Summary of Significant Accoun22

Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Revenue Recognition Policy	Revenue Recognition The Company has yet to realize significant revenues from operations and is still in the development stage. The Company recognizes revenues when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is reasonably assured.

Summary of Significant Accoun23

Summary of Significant Accounting Policies: Income Taxes Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Income Taxes Policy	Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. It is the Companys policy to classify interest and penalties on income taxes as interest expense or penalties expense. As of September 30, 2015, there have been no interest or penalties incurred on income taxes.

Summary of Significant Accoun24

Summary of Significant Accounting Policies: Basic Income (loss) Per Share Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Basic Income (loss) Per Share Policy	Basic Income (Loss) Per Share Basic income (loss) per share is calculated by dividing the Companys net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Companys net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There are no such common stock equivalents outstanding as of September 30, 2015.

Summary of Significant Accoun25

Summary of Significant Accounting Policies: Stock-based Compensation Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Stock-based Compensation Policy	Stock-Based Compensation The Company accounts for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation - Stock Compensation The Company follows ASC Topic 505-50, formerly EITF 96-18, Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods and Services

Summary of Significant Accoun26

Summary of Significant Accounting Policies: Dividends Policy (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Dividends Policy	Dividends The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during the periods shown.

Summary of Significant Accoun27

Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	6 Months Ended
	Sep. 30, 2015
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow.

Prepaid Expenses Disclosure (De

Prepaid Expenses Disclosure (Details)	Sep. 30, 2015USD ($)
Details
Prepaid expenses, legal fees	$ 4,253

Accrued Expenses Disclosure (De

Accrued Expenses Disclosure (Details) - USD ($)	Sep. 30, 2015	Mar. 31, 2015
Accrued expenses	$ 1,984	$ 18,584
Stock transfer agent
Accrued expenses	284	696
Audit firm
Accrued expenses	$ 1,700	1,700
Law firm
Accrued expenses		$ 16,188

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Sep. 30, 2015	Mar. 31, 2015
Loan payable - related party	$ 38,809	$ 8,804
Loan from a shareholder and officer
Loan payable - related party	8,804
Loan from an officer
Loan payable - related party	$ 38,809

Capital Stock Disclosure (Detai

Capital Stock Disclosure (Details) - USD ($)	2 Months Ended	12 Months Ended
Capital Stock Disclosure (Details) - USD ($)	Mar. 31, 2012	Mar. 31, 2014	Mar. 31, 2013	Sep. 30, 2015	Mar. 31, 2015	Feb. 07, 2012
Common stock authorized for issuance				100,000,000	100,000,000	2,000,000
Common stock par value				$ 0.001	$ 0.001	$ 0.001
To the founder for cash
Common stock issued	2,500,000
Proceeds from stock issuance	$ 25,000
Cash proceeds
Common stock issued		1,200,000	1,150,000
Proceeds from stock issuance		$ 24,000	$ 23,000
Price per share sold		$ 0.02	$ 0.02

Commitments and Contingencies32

Commitments and Contingencies Disclosure (Details) - Foregiveness of management fees, related party	12 Months Ended
	Mar. 31, 2014USD ($)
Monthly management fee, prior to cancellation	$ 5,000
Forgiveness of accrued fees	$ 30,000

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