Nika Pharmaceuticals Files Q1 2024 10-Q

TL;DR

Nika Pharma's Q1 2024 10-Q is in. Check financials.

AI Summary

Nika Pharmaceuticals, Inc. filed its quarterly report for the period ending March 31, 2024. The company, formerly Centennial Growth Equities Inc., is based in Henderson, Nevada. The filing details financial information for the first quarter of 2024, including comparative data from previous periods.

Why It Matters

This filing provides investors with an update on Nika Pharmaceuticals' financial performance and position as of March 31, 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• Q1 2024 — Reporting Period (Financials for the first quarter of 2024 are detailed.)
• 20240331 — As of Date (Financial position as of the end of the first quarter.)

Key Players & Entities

• NIKA PHARMACEUTICALS, INC (company) — Filer
• CENTENNIAL GROWTH EQUITIES INC (company) — Former company name
• 20240331 (date) — Reporting period end date
• 20240528 (date) — Filing date
• 7023263615 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.0001 — The number of shares of Common Stock, $0.0001 par value of the registrant outstanding

Filing Documents

• form10q.htm (10-Q) — 263KB
• exhibit31-1.htm (EX-31.1) — 7KB
• exhibit32-1.htm (EX-32.1) — 3KB
• 0001826466-24-000068.txt ( ) — 1845KB
• nika-20240331.xsd (EX-101.SCH) — 17KB
• nika-20240331_cal.xml (EX-101.CAL) — 23KB
• nika-20240331_def.xml (EX-101.DEF) — 73KB
• nika-20240331_lab.xml (EX-101.LAB) — 147KB
• nika-20240331_pre.xml (EX-101.PRE) — 132KB
• form10q_htm.xml (XML) — 141KB

Financial

Item 1. Financial 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (Unaudited) 3 Condensed Consolidated Statements of Operations for the three months Ended March 31, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders Deficit for the three months Ended March 31, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months Ended March 31, 2024 and 2023 (Unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7

Managements Discussion and

Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations 11

Quantitative and

Item 3. Quantitative and Qualitative Disclosures About Market Risks. 13

Controls and Procedures

Item 4. Controls and Procedures 13 PART II. 14

Legal Proceedings

Item 1. Legal Proceedings. 14

Risk Factors

Item 1A. Risk Factors . 14

Unregistered Sales of

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 14

Defaults Upon Senior

Item 3. Defaults Upon Senior Securities. 14

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 14

Other Information

Item 5. Other Information. 14

Exhibits

Item 6. Exhibits. 14 EXHIBIT INDEX 15

Consolidated Financial Statements

Item 1. Consolidated Financial Statements NIKA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 ASSETS (Unaudited) Current Assets: Cash $ 24,466 $ 19,596 Inventory 17,007 Total current assets 41,473 19,596 Total Assets $ 41,473 $ 19,596 LIABILITIES AND STOCKHOLDERS DEFICIT Current Liabilities: Accounts payable and accruals $ 9,333 $ Due to related parties 256,622 101,745 Total Current Liabilities 265,955 101,745 Total Liabilities 265,955 101,745 Commitments and contingencies Stockholders' Deficit: Preferred Stock; par value $ 0.0001 ; 15,000,000 shares authorized; 10,000,000 shares issued and outstanding 15,000,000 1,000 1,000 Common Stock; par value $ 0.0001 ; 2,700,000,000 shares authorized; 876,090,000 shares issued and outstanding 87,609 87,609 Additional paid-in capital 8,617,773 3,229,489 Accumulated deficit ( 8,930,864 ) ( 3,400,247 ) Total Stockholders' Deficit ( 224,482 ) ( 82,149 ) Total Liabilities and Stockholders' Deficit $ 41,473 $ 19,596 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 NIKA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended March 31, 2024 2023 Operating Expenses: General and administrative $ 65,988 $ 19,570 Total operating expenses 65,988 19,570 Loss from operations ( 65,988 ) ( 19,570 ) Loss before provision for income taxes ( 65,988 ) ( 19,570 ) Provision for income taxes Net Loss $ ( 65,988 ) $ ( 19,570 ) Loss per share, basic and diluted $ ( 0.00 ) $ ( 0.00 ) Weighted average common shares outstanding, basic and diluted 876,090,000 876,090,000 The accompanying notes are an integral part of these unaudited consolidated financial statements. 4 NIKA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STAT

financial statements reflect all adjustments, consisting of only normal

financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair necessarily indicative of the results to be expected for the full year ending December 31, 2024. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes included in the Companys Annual Report on Form 10-K for the year ended December 31, 2023. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial reporting period. Actual results may differ from those estimates. Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash. Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. As of March 31, 2024 and December 31, 2023, the Company had no cash equivalents. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Centennial Ventures, Inc. and our 80 % owned subsidiary, Nika Europe. There has been no activity in Centennial Ventures, Inc. as of March 31, 2024. Translation Adjustment The accounts of the Companys subsidiary Nika Europe, Ltd are maintained i

Managements Discussion and Analysis of Financial

Item 2. Managements Discussion and Analysis of Financial Condition and Res

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