10-Q Filing

RICH PHARMACEUTICALS, INC. CIK: 1504389 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001662252-17-000240`
Period End Date	20170630
Filing Date	20171206
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rcha-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 47 Cash Flow Statement 65

Balance Sheet 68 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, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	900,000.00	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	375.03M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	332.74M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.90K	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.70K	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	101.45M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	-	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	-	USD	Point-in-time
Notes receivable	`NotesAndLoansReceivableGrossCurrent`	$10.00K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Notes receivable	`NotesAndLoansReceivableGrossCurrent`	$15.30K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$50.90K	USD	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	6.00M	shares	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	6.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$19.00K	USD	Point-in-time
Convertible notes payable, debt discount	`DebtInstrumentUnamortizedDiscountCurrent`	$505.25K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.85K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.12K	USD	Point-in-time
Convertible notes payable, debt discount	`DebtInstrumentUnamortizedDiscountCurrent`	$356.82K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$20.85K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$53.03K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$296.63K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$350.18K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartyCurrent`	$197.45K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartyCurrent`	$53.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$937.78K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$56.20K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$49.40K	USD	Point-in-time
Note payable	`LongTermDebtCurrent`	$920.00K	USD	Point-in-time
Note payable	`LongTermDebtCurrent`	$920.00K	USD	Point-in-time
Convertible notes payable, net of debt discount of $505,253 and $356,819	`ConvertibleNotesPayableCurrent`	$514.08K	USD	Point-in-time
Convertible notes payable, net of debt discount of $505,253 and $356,819	`ConvertibleNotesPayableCurrent`	$402.77K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$2.61M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$4.53M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.38M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$7.53M	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`	$7.53M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.38M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	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, 2,000,000,000 shares authorized, 332,735,515 and 101,446,215 shares issued and outstanding,	`CommonStockValue`	$101.45K	USD	Point-in-time
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 332,735,515 and 101,446,215 shares issued and outstanding,	`CommonStockValue`	$332.74K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.75M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-7.51M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-5.33M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$20.85K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$53.03K	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`	$4.62K	USD	1 Quarter
Consulting expenses	`CostOfServices`	$10.22K	USD	1 Quarter
Office expenses	`OperatingCostsAndExpenses`	$34.57K	USD	1 Quarter
Office expenses	`OperatingCostsAndExpenses`	$66.40K	USD	1 Quarter
Depreciation expense	`Depreciation`	$431.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$274.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.61K	USD	Annual
Wages and taxes	`LaborAndRelatedExpense`	$95.95K	USD	1 Quarter
Wages and taxes	`LaborAndRelatedExpense`	$137.79K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$64.76K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$54.24K	USD	1 Quarter
Regulatory fees	`RegulatoryExpense`	$34.31K	USD	1 Quarter
Regulatory fees	`RegulatoryExpense`	$6.84K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$147.57K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Travel, meals and entertainment	`TravelAndEntertainmentExpense`	$15.75K	USD	1 Quarter
Travel, meals and entertainment	`TravelAndEntertainmentExpense`	$13.21K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$215.47K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$471.48K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-471.48K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-215.47K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-350.33K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-46.57K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$-116.77K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$1.40M	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	-	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	$-249.46K	USD	1 Quarter
Interest expense	`InterestExpense`	$-33.01K	USD	1 Quarter
Interest expense	`InterestExpense`	$-46.77K	USD	1 Quarter
Interest expense related party	`InterestExpenseRelatedParty`	$-75.00	USD	1 Quarter
Interest expense related party	`InterestExpenseRelatedParty`	$-153.00	USD	1 Quarter
Gain (Loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$213.29K	USD	1 Quarter
Gain (Loss) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
LOSS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-2.30M	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`	$-2.30M	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
NET LOSS PER SHARE: BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	190.78M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.07M	shares	1 Quarter

Cash Flow Statement 65 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`	$-2.30M	USD	1 Quarter
Depreciation expense	`Depreciation`	$431.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$274.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.61K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-350.33K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$-46.57K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$-116.77K	USD	1 Quarter
Change in value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInOtherComprehensiveIncomeLoss`	$1.40M	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	-	USD	1 Quarter
Derivative expense	`OtherComprehensiveIncomeDerivativesExpense`	$-249.46K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$213.29K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Warrants issued for services	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Warrants issued for services	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Increase (decrease) in bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	1 Quarter
Increase (decrease) in bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.01K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$198.00K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.39K	USD	1 Quarter
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$97.82K	USD	1 Quarter
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$139.32K	USD	1 Quarter
Net Cash Used by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-132.47K	USD	1 Quarter
Net Cash Used by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-175.97K	USD	1 Quarter
Increase in notes receivable	`IncreaseDecreaseInNotesReceivableCurrent`	-	USD	1 Quarter
Increase in notes receivable	`IncreaseDecreaseInNotesReceivableCurrent`	$5.30K	USD	1 Quarter
Net Cash Used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.30K	USD	1 Quarter
Net Cash Used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Loans received (repaid) from/to related parties	`LoansAndLeasesReceivableRelatedPartiesAdditions`	$6.81K	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`	-	USD	1 Quarter
Proceeds from sale of common stock and warrants	`ProceedsFromSaleOfCommonStockAndStockWarrants`	-	USD	1 Quarter
Proceeds from issuance of note payable	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Proceeds from issuance of note payable	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$170.25K	USD	1 Quarter
Proceeds from issuance of convertible notes payable	`ProceedsFromConvertibleDebt`	$137.25K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$144.06K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$132.47K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-37.20K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
Cash and cash equivalents, beginning of period	`Cash`	$40.90K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$3.70K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$40.90K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$3.70K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	-	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Accounts payable converted into note payable	`AccountsPayableConvertedIntoNotePayable`	-	USD	1 Quarter
Accounts payable converted into note payable	`AccountsPayableConvertedIntoNotePayable`	-	USD	1 Quarter
Warrants issued for accrued expenses	`WarrantsIssuedForAccruedExpenses`	-	USD	1 Quarter
Warrants issued for accrued expenses	`WarrantsIssuedForAccruedExpenses`	-	USD	1 Quarter
Original issue discounts recorded on notes payable	`OriginalIssueDiscountsRecordedOnNotesPayable`	$11.53K	USD	1 Quarter
Original issue discounts recorded on notes payable	`OriginalIssueDiscountsRecordedOnNotesPayable`	$10.00K	USD	1 Quarter
Debt discounts recorded on convertible notes payable	`DebtDiscountsRecordedOnConvertibleNotesPayable`	$498.76K	USD	1 Quarter
Debt discounts recorded on convertible notes payable	`DebtDiscountsRecordedOnConvertibleNotesPayable`	-	USD	1 Quarter
Debt/interest converted into common stock and contributed capital	`DebtConversionConvertedInstrumentAmount1`	$118.66K	USD	1 Quarter
Debt/interest converted into common stock and contributed capital	`DebtConversionConvertedInstrumentAmount1`	$449.82K	USD	1 Quarter

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