10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001255294-12-000900`
Period End Date	20121031
Filing Date	20121214
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	asuv-20121031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 44 Cash Flow Statement 64

Balance Sheet 46 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`	90.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	90.00M	shares	Point-in-time
Cash and equivalents	`Cash`	-	USD	Point-in-time
Cash and equivalents	`Cash`	$56.45K	USD	Point-in-time
Cash and equivalents	`Cash`	$31.63K	USD	Point-in-time
Common stock, issued and outstanding	`CommonStockSharesIssued`	63.04M	shares	Point-in-time
Common stock, issued and outstanding	`CommonStockSharesIssued`	63.04M	shares	Point-in-time
Cash and equivalents	`Cash`	-	USD	Point-in-time
Cash and equivalents	`Cash`	-	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$16.45K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.95K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$70.39K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$48.08K	USD	Point-in-time
License agreement	`LicenseAgreement`	$525.00K	USD	Point-in-time
License agreement	`LicenseAgreement`	$525.00K	USD	Point-in-time
License agreement	`LicenseAgreement`	$525.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$595.39K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$573.08K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$37.18K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.38K	USD	Point-in-time
License fee payable	`LicenseFeePayable`	$175.00K	USD	Point-in-time
License fee payable	`LicenseFeePayable`	$175.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$214.38K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$212.18K	USD	Point-in-time
License fee payable, net of current portion	`LicenseFeePayable`	$175.00K	USD	Point-in-time
License fee payable, net of current portion	`LicenseFeePayable`	$175.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$389.38K	USD	Point-in-time
Total Liabilities	`Liabilities`	$387.18K	USD	Point-in-time
Common Stock, $.001 par value, 100,000,000 shares authorized, 63,037,262 and shares issued and outstanding (63,037,262 - July 31, 2012)	`CommonStockValue`	$63.04K	USD	Point-in-time
Common Stock, $.001 par value, 100,000,000 shares authorized, 63,037,262 and shares issued and outstanding (63,037,262 - July 31, 2012)	`CommonStockValue`	$63.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$282.49K	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`	$249.41K	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$388.92K	USD	Point-in-time
Deficit accumulated during the development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$409.04K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$185.90K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$206.01K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$573.08K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$595.39K	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	-	USD	1 Quarter
REVENUES	`Revenues`	-	USD	3 Qtrs
REVENUES	`Revenues`	-	USD	1 Quarter
REVENUES	`Revenues`	$200.00	USD	22 Qtrs
Professional fees	`ProfessionalFees`	$2.10K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$1.40K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$283.42K	USD	22 Qtrs
Consulting fees	`ConsultingFees`	$13.00K	USD	1 Quarter
Consulting fees	`ConsultingFees`	-	USD	1 Quarter
Consulting fees	`ConsultingFees`	$174.54K	USD	22 Qtrs
Website development	`TechnologyServicesCosts`	$9.00K	USD	22 Qtrs
Website development	`TechnologyServicesCosts`	-	USD	1 Quarter
Website development	`TechnologyServicesCosts`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$26.25K	USD	22 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$5.01K	USD	1 Quarter
TOTAL EXPENSES	`OperatingExpenses`	$493.22K	USD	22 Qtrs
TOTAL EXPENSES	`OperatingExpenses`	$1.40K	USD	1 Quarter
TOTAL EXPENSES	`OperatingExpenses`	$20.11K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-493.02K	USD	22 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.40K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-20.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$300.00	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$2.76K	USD	22 Qtrs
Gain on settlement of accrued expenses	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	1 Quarter
Gain on settlement of accrued expenses	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	1 Quarter
Gain on settlement of accrued expenses	`GainLossRelatedToSettlementOfAccuredExpenses`	$86.75K	USD	22 Qtrs
TOTAL OTHER INCOME (EXPENSE)	`OtherIncome`	-	USD	1 Quarter
TOTAL OTHER INCOME (EXPENSE)	`OtherIncome`	$83.98K	USD	22 Qtrs
TOTAL OTHER INCOME (EXPENSE)	`OtherIncome`	$-300.00	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-20.11K	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-409.04K	USD	22 Qtrs
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.70K	USD	1 Quarter
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	1 Quarter
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	1 Quarter
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	22 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.70K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-20.11K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-409.04K	USD	22 Qtrs
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	63.04M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	273.62M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`ProfitLoss`	$-409.04K	USD	22 Qtrs
Net loss for the period	`ProfitLoss`	$-20.11K	USD	1 Quarter
Net loss for the period	`ProfitLoss`	$-1.70K	USD	1 Quarter
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	-	USD	1 Quarter
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	-	USD	1 Quarter
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	$-86.75K	USD	22 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-16.45K	USD	22 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.50K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.20K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.40K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$123.93K	USD	22 Qtrs
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$2.76K	USD	22 Qtrs
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$300.00	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.81K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-385.54K	USD	22 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	$175.00K	USD	22 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-175.00K	USD	22 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	$581.23K	USD	22 Qtrs
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Offering costs	`PaymentsOfStockOfferingCosts`	$68.49K	USD	22 Qtrs
Offering costs	`PaymentsOfStockOfferingCosts`	-	USD	1 Quarter
Offering costs	`PaymentsOfStockOfferingCosts`	-	USD	1 Quarter
Proceeds from note payable - related party	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds from note payable - related party	`ProceedsFromNotesPayable`	$79.44K	USD	22 Qtrs
Proceeds from note payable - related party	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$592.17K	USD	22 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$31.63K	USD	22 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-24.81K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	-	USD	1 Quarter
Cash, beginning of period	`Cash`	-	USD	Point-in-time
Cash, beginning of period	`Cash`	$56.45K	USD	Point-in-time
Cash, beginning of period	`Cash`	$31.63K	USD	Point-in-time
Cash, beginning of period	`Cash`	-	USD	Point-in-time
Cash, beginning 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
Cash, end of period	`Cash`	$31.63K	USD	Point-in-time
Cash, end of period	`Cash`	-	USD	Point-in-time
Cash, end of period	`Cash`	-	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	22 Qtrs
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	22 Qtrs
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	-	USD	1 Quarter
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	$1.21K	USD	22 Qtrs
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	-	USD	1 Quarter
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	-	USD	1 Quarter
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	-	USD	1 Quarter
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	$80.99K	USD	22 Qtrs
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	$525.00K	USD	22 Qtrs
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	-	USD	1 Quarter
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	-	USD	1 Quarter

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