NIKA PHARMACEUTICALS, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Nika Pharmaceuticals, Inc. has filed its 2023 annual report on Form 10-K, detailing its operations and financial standing for the fiscal year ending December 31, 2023.</b>

AI Summary

NIKA PHARMACEUTICALS, INC (NIKA) filed a Annual Report (10-K) with the SEC on April 1, 2024. Nika Pharmaceuticals, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 2269 Merrimack Valley Avenue, Henderson, NV 89044. Nika Pharmaceuticals, Inc. was formerly known as Centennial Growth Equities Inc. until a name change on July 24, 2001. The SIC code listed for the company is Miscellaneous Transportation Equipment [3790].

Why It Matters

For investors and stakeholders tracking NIKA PHARMACEUTICALS, INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Nika Pharmaceuticals' financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current health and future prospects. The filing includes historical financial data and details about the company's structure and previous corporate actions, offering context for understanding its evolution and strategic direction.

Risk Assessment

Risk Level: low — NIKA PHARMACEUTICALS, INC shows low risk based on this filing. The risk is low as the filing is a standard annual report (10-K) and does not appear to contain any immediate red flags or significant negative disclosures based on the provided header information.

Analyst Insight

Review the full 10-K filing to understand Nika Pharmaceuticals' financial performance, business strategy, and any disclosed risks for the fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-01 — Filing Date (Filed as of date)
• 000-56234 — SEC File Number (SEC file number)
• 3790 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• NIKA PHARMACEUTICALS, INC. (company) — Filer name
• Centennial Growth Equities Inc. (company) — Former company name
• 2269 Merrimack Valley Avenue (location) — Business address street
• Henderson (location) — Business address city
• NV (location) — Business address state
• 89044 (location) — Business address zip

FAQ

Industry Context

The filing indicates Nika Pharmaceuticals, Inc. operates within the Miscellaneous Transportation Equipment sector, though its name suggests a focus on pharmaceuticals.

Regulatory Implications

The filing is a standard Form 10-K, adhering to the regulations of the U.S. Securities and Exchange Commission (SEC) for annual financial reporting.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and other key performance indicators.
2. Review the 'Risk Factors' section of the 10-K to understand potential challenges and uncertainties facing the company.
3. Examine the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into the company's performance and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-01: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available from the provided data.

Key Financial Figures

• $1.07 billion — earliest to occur of: (i) our reporting $1.07 billion or more in annual gross revenues; (ii)
• $1 billion — e, in a three year period, of more than $1 billion in non-convertible debt; and (iv) the e
• $700 million — n stock held by non-affiliates exceeded $700 million on the last business day of our second
• $0.0001 — e 2,700,000,000 shares of Common Stock, $0.0001 par value, authorized, with 876,090,000
• $64,833 — 31, 2023 and 2022 we had G&A expense of $64,833 and $33,175. An increase of $31,118 or
• $33,175 — 2022 we had G&A expense of $64,833 and $33,175. An increase of $31,118 or 92.3% . The
• $31,118 — of $64,833 and $33,175. An increase of $31,118 or 92.3% . The increase can be attribut
• $20,795 — to an increase in professional fees of $20,795 and IR expense of $20,000. Consulting
• $20,000 — ional fees of $20,795 and IR expense of $20,000. Consulting expense Consulting expe
• $0 — ulting expense Consulting expense was $0 and $150,000 for the years ended Decemb
• $150,000 — expense Consulting expense was $0 and $150,000 for the years ended December 31, 2023 a
• $3,000,000 — 4). The preferred shares were valued at $3,000,000. Net Loss During the year ended Dec
• $3,183,715 — s of $64,833, compared to a net loss of $3,183,715 during the year ended December 31, 2022
• $33,715 — ended December 31, 2023, compared with $33,715 used in operating activities during the
• $83,564 — ar ended December 31, 2023, we received $83,564 in loan proceeds from a related party.

Filing Documents

• form10-k.htm (10-K) — 390KB
• exhibit31-1.htm (EX-31.1) — 7KB
• exhibit32-1.htm (EX-32.1) — 3KB
• image_001.jpg (GRAPHIC) — 7KB
• image_logo.jpg (GRAPHIC) — 6KB
• 0001826466-24-000041.txt (&nbsp;) — 2020KB
• nkph-20231231.xsd (EX-101.SCH) — 17KB
• nkph-20231231_cal.xml (EX-101.CAL) — 24KB
• nkph-20231231_def.xml (EX-101.DEF) — 48KB
• nkph-20231231_lab.xml (EX-101.LAB) — 140KB
• nkph-20231231_pre.xml (EX-101.PRE) — 116KB
• form10-k_htm.xml (XML) — 148KB

Business

Business 4 Item 1A. Risk Factors 5 Item 1B. Unresolved Staff Comments 5 Item 1C. Cybersecurity 5 Item 2.

Properties

Properties 5 Item 3. Legal Proceedings 5 Item 4. Mine Safety Disclosures 5 PART II 6 Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 6 Item 6. [Reserved] 6 Item 7.

Managements Discussion and Analysis of Financial Condition

Managements Discussion and Analysis of Financial Condition and Results of Operation 6 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 8 Item 8. Financial 8 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 20 Item 9A. Controls and Procedures 20 Item 9B. Other Information 21 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 21 PART III 21 Item 10. Directors, Executive Officers and Corporate Governance 22 Item 11. Executive Compensation 23 Item 12. Security Stockholder Matters 25 Item 13. Certain Relationships and Related Transactions, and Director Independence 25 Item 14. Principal Accountant Fees and Services 26 PART IV 27 Item 15. Exhibits and Financial Statement Schedules 27 Item 16 Form 10-K Summary 27 Signeture 27 3 PART I

Forward-Looking Statements

Forward-Looking Statements Unless the context indicates otherwise, as used in this Annual Report, the terms Nika, we, us, our, our company and our business refer, to Nika Pharmaceuticals, Inc.., including its subsidiaries. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are forward-looking statements. These

forward-looking statements generally are identified by the words believes,

forward-looking statements generally are identified by the words believes, project, expects, anticipates, estimates, intends, strategy, plan, may, will, would, will be, will continue, will likely result, and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Business Overview Nika Pharmaceuticals, Inc. was incorporated in the State of Colorado on June 6, 2000. Pursuant to the terms of a stock purchase agreement resulting in a change of control the Company is changing its business to focus on the following. On April 7, 2022, the Company signed with VITAL FE Joint Stock Company (VITAL) an Exclusive Rights sAgreement for a term of 15 years for the production and distribution of Thymus Nuclear Glycoprotein (TNG). VITAL holds the technology to manufacture TNG and the intellectual property for Phase III Clinical Trial on TNG, started in 1997 and completed in 1998 in Infectious Diseases Hospital, Sofia on 20 patients suffering from AIDS in the advanced stages of the disease. The results of the clinical trial show that TNG has a significant place in the treatment of HIV. On April 7, 2022, signed with MICAR 11 LTD. (MICAR) an Exclusive Rights Agreement for a term of 15 years for the production and distribution of two dietary supplements, namely Carotil

executive compensation in our periodic reports, proxy statements and

executive compensation in our periodic reports, proxy statements and registration statements; and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. In addition, an emerging growth company can take advantage of an extended transition period for complying with new or revised accounting standards. This provision allows an emerging growth company to delay the adoption of some accounting standards until those standards would otherwise apply to private companies. We have elected to avail ourselves of this extended transition period. We will remain an emerging growth company until the earliest to occur of: (i) our reporting $1.07 billion or more in annual gross revenues; (ii) the end of fiscal year 2024; (iii) our issuance, in a three year period, of more than $1 billion in non-convertible debt; and (iv) the end of the fiscal year in which the market value of our common stock held by non-affiliates exceeded $700 million on the last business day of our second fiscal quarter.

, RISK FACTORS

ITEM 1A, RISK FACTORS We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS None

CYBERSECURITY

ITEM 1C. CYBERSECURITY None

PROPERTIES

ITEM 2. PROPERTIES We do not currently own any property.

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS There are no material claims, actions, suits, proceedings, or investigations that are currently pending or, to the Companys knowledge, threatened by or against the Company or respecting its operations or assets, or by or against any of the Companys officers, directors, or affiliates.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 5 Part II

MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is quoted under the symbol NKPH on the Pink Open Market (f/k/a OTC Pink) published by OTC Markets Group, Inc. (OTC Pink), where an established public trading market for our common stock has not yet been established. Common Stock There are 2,700,000,000 shares of Common Stock, $0.0001 par value, authorized, with 876,090,000 shares issued and outstanding. The holders of Common Stock are entitled to one vote for each share held on all matters submitted to a vote of shareholders. The holders of Common Stock have no preemptive, subscription, redemption or conversion rights. Preferred Stock We have 10,000,000 shares of Preferred Stock, $0.0001 par value, authorized of which 10,000,000 are issued and outstanding. Each outstanding share of the series of Preferred Stock shall be entitled to one thousand (1,000) votes on each matter submitted to a vote. Shares of Preferred Stock shall, with respect to dividend rights, rights on redemption and rights on liquidation, winding up and dissolution, rank pari passu with all classes of Common Stock. Security Holders At March 13, 2024 there were approximately 64 holders of record of our common stock, although we believe that there are other persons who are beneficial owners of our common stock held in street name. The transfer agent and registrar for our common stock is Securities Transfer Corporation, 2901 N Dallas Parkway, Suite 380, Plano, Texas 75093. Their telephone number is 469-633-0101. Dividend Policy We have never paid any cash dividends and intend, for the foreseeable future, to retain any future earnings for the development of our business. Our Board of Directors will determine our future dividend policy on the basis of various factors, including our results of operations, financial condition, capital requirements and investment opportunities. Recent Issuance of

Managements Discussion and Analysis of

Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation The following discussion and analysis of our consolidated financial condition and results of operations for years ended December 31, 2023 and 2022 should be read in conjunction with the consolidated financial statements and notes related thereto included elsewhere in this report. 6 Results of Operations for the Year Ended December 31, 2023 compared to the Year Ended December 31, 2022 General and Administrative General and Administrative (G&A) expenses have primarily consisted of costs related to filing the Form 10-K and Form 10-Qs for the Company, including audit and accounting expense and filing fees. For the years ended December 31, 2023 and 2022 we had G&A expense of $64,833 and $33,175. An increase of $31,118 or 92.3% . The increase can be attributed to an increase in professional fees of $20,795 and IR expense of $20,000. Consulting expense Consulting expense was $0 and $150,000 for the years ended December 31, 2023 and 2022, respectively. During the prior year the Company issued common stock for services for total non-cash consulting expense of $150,000. Development expense During the prior year the Company issued 10,000,000 shares of preferred stock per the terms of two Exclusive Rights Agreement (Note 4). The preferred shares were valued at $3,000,000. Net Loss During the year ended December 31, 2023, the Company incurred a net loss of $64,833, compared to a net loss of $3,183,715 during the year ended December 31, 2022. The decrease in net loss is due to expenses associated with the issuance of common and preferred stock as discussed above. Liquidity and Capital Resources Operating Activities Net cash used in operating activities was $64,833 during the year ended December 31, 2023, compared with $33,715 used in operating activities during the year ended December 31, 2022. Investing Activities We neither generated nor used cash in invest

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

FINANCIAL STATEMENTS AND SUPPLEMENTARY

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA NIKA PHARMACEUTICALS, INC. TABLE OF CONTENTS Report of Independent Registered Public Accounting Firm (Fruci & Associates II, PLLC PCAOB ID 0 5525 ) 9 Report of Independent Registered Public Accounting Firm (BF Borgers CPA PC - PCAOB ID 5041 ) 10 Consolidated Balance Sheets as of December 31, 2023 and 2022 11 Consolidated Statements of Operations for the years ended December 31, 2023 and 2022 12 Consolidated Statement of Stockholders Deficit for the years ended December 31, 2023 and 2022 13 Consolidated Statements of Cash Flows for the years ended December 31, 2023 and 2022 14

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 15 8 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Stockholders of Nika Pharmaceuticals, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheet of Nika Pharmaceuticals, Inc. ("the Company") as of December 31, 2023, and the related consolidated statements of operations, changes in stockholders' (deficit), and cash flows for the year then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has no current operations and has generated no income to date. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our aud

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