10-K Filing

THC THERAPEUTICS, INC. CIK: 1404935 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001255294-12-000779`
Period End Date	20120731
Filing Date	20121113
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	asuv-20120731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 46 Cash Flow Statement 62 Stockholders Equity 26

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, issued and outstanding	`CommonStockSharesIssued`	63.04M	shares	Point-in-time
Cash and equivalents	`Cash`	$10.98K	USD	Point-in-time
Common stock, issued and outstanding	`CommonStockSharesIssued`	54.72M	shares	Point-in-time
Cash and equivalents	`Cash`	-	USD	Point-in-time
Cash and equivalents	`Cash`	-	USD	Point-in-time
Cash and equivalents	`Cash`	$56.45K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.95K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$70.39K	USD	Point-in-time
License agreement	`LicenseAgreement`	$525.00K	USD	Point-in-time
License agreement	`LicenseAgreement`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$595.39K	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$43.58K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.38K	USD	Point-in-time
Accrued interest - related party	`AccruedInterestRelatedParty`	$1.35K	USD	Point-in-time
Accrued interest - related party	`AccruedInterestRelatedParty`	-	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$20.00K	USD	Point-in-time
Note payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
License fee payable	`LicenseFeePayable`	-	USD	Point-in-time
License fee payable	`LicenseFeePayable`	$175.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$64.94K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$214.38K	USD	Point-in-time
License fee payable, net of current portion	`LicenseFeePayable`	-	USD	Point-in-time
License fee payable, net of current portion	`LicenseFeePayable`	$175.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$64.94K	USD	Point-in-time
Total Liabilities	`Liabilities`	$389.38K	USD	Point-in-time
Common Stock, $.001 par value, 100,000,000 shares authorized, 63,037,262 and shares issued and outstanding (54,724,119 - 2011)	`CommonStockValue`	$54.72K	USD	Point-in-time
Common Stock, $.001 par value, 100,000,000 shares authorized, 63,037,262 and shares issued and outstanding (54,724,119 - 2011)	`CommonStockValue`	$63.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.71K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$282.49K	USD	Point-in-time
Stock warrants	`StockWarrants`	$249.41K	USD	Point-in-time
Stock warrants	`StockWarrants`	-	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$388.92K	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$147.37K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-68.51K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-64.94K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$363.00	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$206.01K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$16.07K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-40.16K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$595.39K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$200.00	USD	21 Qtrs
REVENUES	`Revenues`	-	USD	Annual
REVENUES	`Revenues`	-	USD	Annual
Professional fees	`ProfessionalFees`	$62.68K	USD	Annual
Professional fees	`ProfessionalFees`	$281.32K	USD	21 Qtrs
Professional fees	`ProfessionalFees`	$22.62K	USD	Annual
Consulting fees	`ConsultingFees`	$161.54K	USD	Annual
Consulting fees	`ConsultingFees`	$161.54K	USD	21 Qtrs
Consulting fees	`ConsultingFees`	-	USD	Annual
Website development	`TechnologyServicesCosts`	-	USD	Annual
Website development	`TechnologyServicesCosts`	-	USD	Annual
Website development	`TechnologyServicesCosts`	$9.00K	USD	21 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.13K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$950.00	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$21.24K	USD	21 Qtrs
TOTAL EXPENSES	`OperatingExpenses`	$240.35K	USD	Annual
TOTAL EXPENSES	`OperatingExpenses`	$23.57K	USD	Annual
TOTAL EXPENSES	`OperatingExpenses`	$473.11K	USD	21 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-23.57K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-472.91K	USD	21 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-240.35K	USD	Annual
Interest expense	`InterestExpense`	$2.76K	USD	21 Qtrs
Interest expense	`InterestExpense`	$1.20K	USD	Annual
Interest expense	`InterestExpense`	$1.20K	USD	Annual
Gain on settlement of accrued expenses	`GainLossRelatedToSettlementOfAccuredExpenses`	$86.75K	USD	21 Qtrs
Gain on settlement of accrued expenses	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	Annual
Gain on settlement of accrued expenses	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	Annual
TOTAL OTHER INCOME (EXPENSE)	`OtherIncome`	$-1.20K	USD	Annual
TOTAL OTHER INCOME (EXPENSE)	`OtherIncome`	$-1.20K	USD	Annual
TOTAL OTHER INCOME (EXPENSE)	`OtherIncome`	$83.98K	USD	21 Qtrs
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-388.92K	USD	21 Qtrs
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-241.55K	USD	Annual
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-24.77K	USD	Annual
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	Annual
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	21 Qtrs
NET LOSS	`NetIncomeLoss`	$-153.00	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-37.86K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-388.92K	USD	21 Qtrs
NET LOSS	`NetIncomeLoss`	$-241.55K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-24.77K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-68.87K	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	273.62M	shares	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	180.93M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`ProfitLoss`	$-24.77K	USD	Annual
Net loss for the period	`ProfitLoss`	$-388.92K	USD	21 Qtrs
Net loss for the period	`ProfitLoss`	$-241.55K	USD	Annual
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	-	USD	Annual
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	$-86.75K	USD	21 Qtrs
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	-	USD	Annual
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-13.95K	USD	21 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-13.95K	USD	Annual
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$126.13K	USD	21 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-4.20K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$12.59K	USD	Annual
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$1.20K	USD	Annual
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$2.76K	USD	21 Qtrs
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$1.20K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.98K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-258.50K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-360.73K	USD	21 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	$175.00K	USD	21 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	$175.00K	USD	Annual
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-175.00K	USD	21 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-175.00K	USD	Annual
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	$581.23K	USD	21 Qtrs
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	$500.00K	USD	Annual
Offering costs	`PaymentsOfStockOfferingCosts`	-	USD	Annual
Offering costs	`PaymentsOfStockOfferingCosts`	$68.49K	USD	21 Qtrs
Offering costs	`PaymentsOfStockOfferingCosts`	$68.49K	USD	Annual
Proceeds from note payable - related party	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from note payable - related party	`ProceedsFromNotesPayable`	$79.44K	USD	21 Qtrs
Proceeds from note payable - related party	`ProceedsFromNotesPayable`	$58.44K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$489.95K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$592.17K	USD	21 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-10.98K	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$56.45K	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$56.45K	USD	21 Qtrs
Cash, beginning of period	`Cash`	$10.98K	USD	Point-in-time
Cash, beginning of period	`Cash`	-	USD	Point-in-time
Cash, beginning of period	`Cash`	-	USD	Point-in-time
Cash, beginning of period	`Cash`	$56.45K	USD	Point-in-time
Cash, end of period	`Cash`	$10.98K	USD	Point-in-time
Cash, end of period	`Cash`	-	USD	Point-in-time
Cash, end of period	`Cash`	-	USD	Point-in-time
Cash, end of period	`Cash`	$56.45K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	21 Qtrs
Interest paid	`InterestPaid`	-	USD	Annual
Interest paid	`InterestPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	21 Qtrs
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	-	USD	Annual
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	-	USD	Annual
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	$1.21K	USD	21 Qtrs
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	$80.99K	USD	21 Qtrs
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	$80.99K	USD	Annual
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	-	USD	Annual
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	$525.00K	USD	21 Qtrs
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	-	USD	Annual
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	$525.00K	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$-68.51K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-64.94K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$363.00	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$206.01K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$16.07K	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$-40.16K	USD	Point-in-time
Cancellation of shares, amount	`CancellationOfSharesAmount`	-	USD	Annual
Stock split - par value adjustment	`StockSplitParValueAdjustment`	-	USD	Annual
Issuance of common stock for cash, amount	`IssuanceOfCommonStockForCash1Value`	$65.00K	USD	Annual
Issuance of common stock for cash, amount	`IssuanceOfCommonStockForCash1Value`	$500.00K	USD	Annual
Issuance of common stock for cash, amount	`IssuanceOfCommonStockForCash1Value`	$4.00K	USD	1 Quarter
Conversion of shareholder loan and accrued interest to contributed capital	`ProceedsFromConversionOfLoanAndInterest`	$1.21K	USD	Annual
Offering costs associated with issuance of common stock and warrants	`OfferingCostsAssociatedWithIssuanceOfCommonStockAndWarrants`	$-68.49K	USD	Annual
Forgiveness of debt and expenses paid by shareholders	`ForgivenessOfDebtAndExpensesPaidByShareholders`	$80.99K	USD	Annual
Net loss	`NetIncomeLoss`	$-153.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-37.86K	USD	Annual
Net loss	`NetIncomeLoss`	$-388.92K	USD	21 Qtrs
Net loss	`NetIncomeLoss`	$-241.55K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.77K	USD	Annual
Net loss	`NetIncomeLoss`	$-68.87K	USD	Annual
Ending balance, amount	`StockholdersEquity`	$-68.51K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-64.94K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$363.00	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$206.01K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$16.07K	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$-40.16K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.