10-Q Filing

RICH PHARMACEUTICALS, INC. CIK: 1504389 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001662252-16-000221`
Period End Date	20160630
Filing Date	20160822
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	rcha-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 47 Cash Flow Statement 57

Balance Sheet 58 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, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	4.00B	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	900,000.00	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	4.00B	shares	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	447.37M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	216.36M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$2.80K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$2.80K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	$2.80K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.80K	USD	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	6.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.73K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.30K	USD	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	6.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$6.10K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$6.53K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$1.94K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$2.95K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.15M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$530.15K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$627.97K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$39.14K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$76.91K	USD	Point-in-time
Convertible notes payable, net of debt discount	`ConvertibleNotesPayableCurrent`	$201.88K	USD	Point-in-time
Convertible notes payable, net of debt discount	`ConvertibleNotesPayableCurrent`	$371.64K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$446.91K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$322.21K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.52M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Convertible notes payable, net of debt discount	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Convertible notes payable, net of debt discount	`ConvertibleLongTermNotesPayable`	-	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Total Long-term Liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Long-term Liabilities	`LiabilitiesNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.52M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.40M	USD	Point-in-time
Preferred stock, $.001 par value, 10,000,000 shares authorized, 6,000,000 shares issued and outstanding, respectively	`PreferredStockValue`	$6.00K	USD	Point-in-time
Preferred stock, $.001 par value, 10,000,000 shares authorized, 6,000,000 shares issued and outstanding, respectively	`PreferredStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.001 par value, 4,000,000,000 shares authorized, 447,369,610 and 216,364,262 shares issued and outstanding,	`CommonStockValue`	$447.37K	USD	Point-in-time
Common stock, $0.001 par value, 4,000,000,000 shares authorized, 447,369,610 and 216,364,262 shares issued and outstanding,	`CommonStockValue`	$216.36K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.59M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.38M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.20M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-2.51M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-2.39M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$6.10K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$6.53K	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	-	USD	1 Quarter
REVENUES	`Revenues`	-	USD	1 Quarter
Consulting expenses	`CostOfServices`	$10.22K	USD	1 Quarter
Consulting expenses	`CostOfServices`	$6.00K	USD	1 Quarter
Office expenses	`OperatingCostsAndExpenses`	$34.57K	USD	1 Quarter
Office expenses	`OperatingCostsAndExpenses`	$20.75K	USD	1 Quarter
Depreciation expense	`Depreciation`	$431.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$118.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$799.00	USD	Annual
Wages and taxes	`LaborAndRelatedExpense`	$91.72K	USD	1 Quarter
Wages and taxes	`LaborAndRelatedExpense`	$95.95K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$54.24K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$65.95K	USD	1 Quarter
Regulatory fees	`RegulatoryExpense`	$6.84K	USD	1 Quarter
Regulatory fees	`RegulatoryExpense`	$1.67K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$130.09K	USD	1 Quarter
Travel, meals and entertainment	`TravelAndEntertainmentExpense`	$2.61K	USD	1 Quarter
Travel, meals and entertainment	`TravelAndEntertainmentExpense`	$13.21K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$325.91K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$215.47K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-215.47K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-325.91K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-165.63K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-46.57K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$-48.41K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$-116.77K	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	-	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	$-191.84K	USD	1 Quarter
Interest expense	`InterestExpense`	$-33.01K	USD	1 Quarter
Interest expense	`InterestExpense`	$-12.70K	USD	1 Quarter
Interest expense related party	`InterestExpenseRelatedParty`	$-74.00	USD	1 Quarter
Interest expense related party	`InterestExpenseRelatedParty`	$-75.00	USD	1 Quarter
Other Income Total	`OtherExpenses`	$37.11K	USD	1 Quarter
Other Income Total	`OtherExpenses`	$-321.83K	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-647.74K	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-178.36K	USD	1 Quarter
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	1 Quarter
PROVISION FOR INCOME TAXES	`CurrentIncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-178.36K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-647.74K	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	321.41M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.26M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-178.36K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-647.74K	USD	1 Quarter
Depreciation expense	`Depreciation`	$431.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$118.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$799.00	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-165.63K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-46.57K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$-48.41K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$-116.77K	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	-	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	$-191.84K	USD	1 Quarter
Interest converted into stock	`DebtConversionInterestAccruedConvertedInstrumentAmount`	-	USD	1 Quarter
Interest converted into stock	`DebtConversionInterestAccruedConvertedInstrumentAmount`	$3.45K	USD	1 Quarter
Warrants issued for services	`ProceedsFromIssuanceOfWarrants`	$13.26K	USD	1 Quarter
Warrants issued for services	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$130.09K	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.74K	USD	1 Quarter
Decrease in bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	1 Quarter
Decrease in bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.01K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.39K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.30K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$97.82K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$45.52K	USD	1 Quarter
Net Cash Used by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-141.65K	USD	1 Quarter
Net Cash Used by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-132.47K	USD	1 Quarter
Loans and interest received (repaid)	`PaymentsForProceedsFromLoansAndLeases`	$74.00	USD	1 Quarter
Loans and interest received (repaid)	`PaymentsForProceedsFromLoansAndLeases`	-	USD	1 Quarter
Loans received (repaid) from/to related parties	`LoansAndLeasesReceivableRelatedPartiesAdditions`	-	USD	1 Quarter
Loans received (repaid) from/to related parties	`LoansAndLeasesReceivableRelatedPartiesAdditions`	$-37.77K	USD	1 Quarter
Proceeds from sale of common stock and warrants	`ProceedsFromSaleOfCommonStockAndStockWarrants`	$29.46K	USD	1 Quarter
Proceeds from sale of common stock and warrants	`ProceedsFromSaleOfCommonStockAndStockWarrants`	-	USD	1 Quarter
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$170.25K	USD	1 Quarter
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$96.31K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$125.84K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$132.47K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.80K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$15.89K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$90.00	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$15.89K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$90.00	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	-	USD	Point-in-time
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
Original issue discounts recorded on notes payable	`OriginalIssueDiscountsRecordedOnNotesPayable`	$11.53K	USD	1 Quarter
Original issue discounts recorded on notes payable	`OriginalIssueDiscountsRecordedOnNotesPayable`	-	USD	1 Quarter
Debt discounts recorded on convertible notes payable	`DebtDiscountsRecordedOnConvertibleNotesPayable`	-	USD	1 Quarter
Debt discounts recorded on convertible notes payable	`DebtDiscountsRecordedOnConvertibleNotesPayable`	-	USD	1 Quarter
Debt/interest converted into common stock	`DebtConversionConvertedInstrumentAmount1`	$449.82K	USD	1 Quarter
Debt/interest converted into common stock	`DebtConversionConvertedInstrumentAmount1`	$50.51K	USD	1 Quarter

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