Thu, Nov 21, 6:39 PM (22 days ago)
For the quarter ended September 30, 2024, Cancer Capital Corp. (ticker: CANC) reported no revenues, continuing a trend of zero operational income since inception. The company incurred a net loss of $8,436 for Q3 2024, slightly improving from a loss of $8,608 in Q3 2023. For the nine-month period, losses increased to $34,211 from $28,623 year-over-year. Operating expenses rose to $16,546, driven primarily by general and administrative costs. As of September 30, 2024, total liabilities increased to $487,713 from $465,549 at year-end 2023, with significant contributions from related party transactions. Cash reserves dwindled to $4,109 from $16,157, raising concerns about liquidity and the company's ability to sustain operations without external financing. Management emphasizes the need for a business combination to generate revenue, yet no discussions with potential partners have occurred. The company remains classified as an emerging growth entity, facing substantial uncertainty regarding future operations and financing. The ability to continue as a going concern is in question, contingent on securing additional funding or operational partnerships.