10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001255294-13-000218`
Period End Date	20130131
Filing Date	20130321
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	asuv-20130131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 63 Cash Flow Statement 68

Balance Sheet 49 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`	$56.45K	USD	Point-in-time
Common stock, issued and outstanding	`CommonStockSharesIssued`	63.04M	shares	Point-in-time
Cash and equivalents	`Cash`	$26.92K	USD	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
Cash and equivalents	`Cash`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.95K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$16.45K	USD	Point-in-time
Deferred financing costs, net of amortization of $416	`DeferredFinancingCostsNetOfAmortization`	-	USD	Point-in-time
Deferred financing costs, net of amortization of $416	`DeferredFinancingCostsNetOfAmortization`	$5.00K	USD	Point-in-time
Deferred financing costs, net of amortization of $416	`DeferredFinancingCostsNetOfAmortization`	$4.58K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$47.95K	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`	$525.00K	USD	Point-in-time
License agreement	`LicenseAgreement`	$525.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$572.95K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$595.39K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$37.68K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.38K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$250.00	USD	Point-in-time
Accrued interest	`AccruedInterest`	-	USD	Point-in-time
Note payable	`NotesAndLoansPayable`	-	USD	Point-in-time
Note payable	`NotesAndLoansPayable`	$50.00K	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`	$262.93K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$214.38K	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`	$437.93K	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`	$459.92K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$206.01K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$135.02K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$595.39K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$572.95K	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	$200.00	USD	23 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$18.61K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$2.10K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$299.93K	USD	23 Qtrs
Professional fees	`ProfessionalFees`	$16.50K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$3.50K	USD	2 Qtrs
Website development	`TechnologyServicesCosts`	-	USD	2 Qtrs
Website development	`TechnologyServicesCosts`	-	USD	2 Qtrs
Website development	`TechnologyServicesCosts`	-	USD	1 Quarter
Website development	`TechnologyServicesCosts`	-	USD	1 Quarter
Website development	`TechnologyServicesCosts`	$9.00K	USD	23 Qtrs
Consulting fees	`ConsultingFees`	-	USD	1 Quarter
Consulting fees	`ConsultingFees`	$30.00K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$43.00K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	-	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$204.54K	USD	23 Qtrs
Office and miscellaneous	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
Office and miscellaneous	`GeneralAndAdministrativeExpense`	$4.13K	USD	1 Quarter
Office and miscellaneous	`GeneralAndAdministrativeExpense`	$30.38K	USD	23 Qtrs
Office and miscellaneous	`GeneralAndAdministrativeExpense`	$9.14K	USD	2 Qtrs
Office and miscellaneous	`GeneralAndAdministrativeExpense`	-	USD	2 Qtrs
Total general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$70.74K	USD	2 Qtrs
Total general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$543.85K	USD	23 Qtrs
Total general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$2.10K	USD	1 Quarter
Total general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$50.83K	USD	1 Quarter
Total general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$3.50K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-70.74K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-543.85K	USD	23 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.10K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.50K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-50.83K	USD	1 Quarter
Gain on settlement of accrued expense	`GainLossRelatedToSettlementOfAccuredExpenses`	$86.75K	USD	23 Qtrs
Gain on settlement of accrued expense	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	1 Quarter
Gain on settlement of accrued expense	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	1 Quarter
Gain on settlement of accrued expense	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	2 Qtrs
Gain on settlement of accrued expense	`GainLossRelatedToSettlementOfAccuredExpenses`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.01K	USD	23 Qtrs
Interest expense	`InterestExpense`	$250.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$600.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$300.00	USD	1 Quarter
Interest expense	`InterestExpense`	$250.00	USD	1 Quarter
Total other income (expense)	`OtherIncome`	$-250.00	USD	1 Quarter
Total other income (expense)	`OtherIncome`	$-250.00	USD	2 Qtrs
Total other income (expense)	`OtherIncome`	$83.73K	USD	23 Qtrs
Total other income (expense)	`OtherIncome`	$-600.00	USD	2 Qtrs
Total other income (expense)	`OtherIncome`	$-300.00	USD	1 Quarter
Net income (loss) for the period	`NetIncomeLoss`	$-51.18K	USD	1 Quarter
Net income (loss) for the period	`NetIncomeLoss`	$-70.99K	USD	2 Qtrs
Net income (loss) for the period	`NetIncomeLoss`	$-2.40K	USD	1 Quarter
Net income (loss) for the period	`NetIncomeLoss`	$-4.10K	USD	2 Qtrs
Net income (loss) for the period	`NetIncomeLoss`	$-459.92K	USD	23 Qtrs
Net loss per share: Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	2 Qtrs
Net loss per share: Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss per share: Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	2 Qtrs
Net loss per share: Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	63.04M	shares	1 Quarter
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	63.04M	shares	2 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	54.72M	shares	2 Qtrs
Weighted average shares outstanding: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicDiluted`	4.72M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`ProfitLoss`	$-4.10K	USD	2 Qtrs
Net loss for the period	`ProfitLoss`	$-459.92K	USD	23 Qtrs
Net loss for the period	`ProfitLoss`	$-70.99K	USD	2 Qtrs
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	-	USD	2 Qtrs
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	$-86.75K	USD	23 Qtrs
Gain on settlement of accrued expenses	`IncreaseDecreaseOnGainLossRelatedToSettlementOfAccuredExpenses`	-	USD	2 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-16.45K	USD	23 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.50K	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.50K	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$124.68K	USD	23 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.45K	USD	2 Qtrs
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$600.00	USD	2 Qtrs
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	-	USD	2 Qtrs
Increase in accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$2.76K	USD	23 Qtrs
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-435.67K	USD	23 Qtrs
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	2 Qtrs
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-74.94K	USD	2 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Acquisition of license agreement	`PaymentsToAcquireIntangibleAssets`	$175.00K	USD	23 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-175.00K	USD	23 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock and stock warrants	`ProceedsFromIssuanceOfCommonStock`	$581.23K	USD	23 Qtrs
Proceeds from note payable	`ProceedsFromNotesPayable`	$50.00K	USD	2 Qtrs
Proceeds from note payable	`ProceedsFromNotesPayable`	$50.00K	USD	23 Qtrs
Deferred financing costs	`DeferredFinancingCosts`	$-4.58K	USD	2 Qtrs
Deferred financing costs	`DeferredFinancingCosts`	$-4.58K	USD	23 Qtrs
Offering costs	`PaymentsOfStockOfferingCosts`	-	USD	2 Qtrs
Offering costs	`PaymentsOfStockOfferingCosts`	$68.49K	USD	23 Qtrs
Offering costs	`PaymentsOfStockOfferingCosts`	-	USD	2 Qtrs
Proceeds from note payable - related party	`ProceedsFromNotePayableRelatedParty`	-	USD	2 Qtrs
Proceeds from note payable - related party	`ProceedsFromNotePayableRelatedParty`	-	USD	2 Qtrs
Proceeds from note payable - related party	`ProceedsFromNotePayableRelatedParty`	$79.44K	USD	23 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$637.59K	USD	23 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$45.42K	USD	2 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$26.92K	USD	23 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-29.53K	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	-	USD	2 Qtrs
Cash, beginning of period	`Cash`	$56.45K	USD	Point-in-time
Cash, beginning of period	`Cash`	$26.92K	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`	-	USD	Point-in-time
Cash, end of period	`Cash`	$56.45K	USD	Point-in-time
Cash, end of period	`Cash`	$26.92K	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`	-	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	23 Qtrs
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	23 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	-	USD	2 Qtrs
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	$1.21K	USD	23 Qtrs
Conversion of note payable - related party and accrued interest to contributed capital	`ConversionOfNotePayableRelatedPartyAndAccruedInterestToContributedCapital`	-	USD	2 Qtrs
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	-	USD	2 Qtrs
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	-	USD	2 Qtrs
Forgiveness of shareholder debt and accrued interest	`ForgivenessOfShareholderDebtAndAccruedInterest`	$80.99K	USD	23 Qtrs
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	-	USD	2 Qtrs
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	-	USD	2 Qtrs
License fee payable issued for acquisition of license agreement	`LicenseFeePayableIssuedForAcquisitionOfLicenseAgreement`	$525.00K	USD	23 Qtrs

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