Nika Pharmaceuticals Files Q3 2024 10-Q

TL;DR

Nika Pharma's Q3 2024 10-Q is in. Check financials.

AI Summary

Nika Pharmaceuticals, Inc. filed its Form 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position as of that date. Key financial data and disclosures relevant to investors are included in this quarterly report.

Why It Matters

This filing provides investors with an update on Nika Pharmaceuticals' financial health and operational progress during the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks disclosed.

Key Numbers

• Q3 2024 — Reporting Period (Covers the third quarter of 2024.)
• 2024-09-30 — As of Date (Financials are reported as of this date.)

Key Players & Entities

• NIKA PHARMACEUTICALS, INC (company) — Filer
• 20240930 (date) — Period of Report
• 20241112 (date) — Filing Date
• 2269 MERRIMACK VALLEY AVENUE (address) — Business Address
• HENDERSON (location) — Business City
• NV (state) — Business State
• 89044 (zip_code) — Business Zip

FAQ

Key Financial Figures

• $0.0001 — The number of shares of Common Stock, $0.0001 par value of the registrant outstanding
• $8,915,159 — e Company has an accumulated deficit of $8,915,159 as of September 30, 2024 and has genera
• $83,565 — CEO, advanced the Company $ 103,419 and $83,565, respectively, to pay for general opera
• $205,164 — 4, the total amount due to Mr. Savov is $205,164. The advance in non-interest bearing an
• $5,000 — Pharmaceuticals, Inc., wire transferred $5,000 to Nika Pharmaceuticals Inc. that were

Filing Documents

• form10q.htm (10-Q) — 376KB
• exhibit31-1.htm (EX-31.1) — 7KB
• exhibit32-1.htm (EX-32.1) — 3KB
• 0001826466-24-000146.txt ( ) — 2146KB
• nkph-20240930.xsd (EX-101.SCH) — 18KB
• nkph-20240930_cal.xml (EX-101.CAL) — 24KB
• nkph-20240930_def.xml (EX-101.DEF) — 77KB
• nkph-20240930_lab.xml (EX-101.LAB) — 155KB
• nkph-20240930_pre.xml (EX-101.PRE) — 137KB
• form10q_htm.xml (XML) — 198KB

Financial

Item 1. Financial 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (Unaudited) 3 Condensed Consolidated Statements of Operations for the three months Ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Stockholders Deficit for the three months Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months Ended September 30, 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 13

Quantitative and

Item 3. Quantitative and Qualitative Disclosures About Market Risks. 16

Controls and Procedures

Item 4. Controls and Procedures 16 PART II. 17

Legal Proceedings

Item 1. Legal Proceedings. 17 .

Risk Factors

Item 1A. Risk Factors . 17

Unregistered Sales of

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 17

Defaults Upon Senior

Item 3. Defaults Upon Senior Securities. 17

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 17

Other Information

Item 5. Other Information. 17

Exhibits

Item 6. Exhibits. 17 EXHIBIT INDEX 17

Consolidated Financial Statements

Item 1. Consolidated Financial Statements NIKA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 ASSETS (Unaudited) (Audited) Current Assets: Cash $ 1,386 $ 19,596 Total current assets 1,386 19,596 Total assets: $ 1,386 $ 19,596 LIABILITIES AND STOCKHOLDERS DEFICIT Current Liabilities: Due to related parties $ 210,164 $ 101,745 Total Current Liabilities $ 210,164 $ 101,745 Total Liabilities $ 210,164 $ 101,745 Commitments and contingencies Stockholders' Deficit: Preferred Stock; par value $ 0.0001 ; 15,000,000 shares authorized; 15,000,000 and 10,000,000 shares issued and outstanding, respectively 1,500 1,000 Common Stock; par value $ 0.0001 ; 2,700,000,000 shares authorized; 1,018,519,500 and 876,090,000 shares issued and outstanding, respectively 101,852 87,609 Additional paid-in capital 8,603,030 3,229,489 Accumulated other comprehensive income Accumulated deficit ( 8,915,160 ) ( 3,400,247 ) Total Stockholders' Deficit ( 208,778 ) ( 82,149 ) Total Liabilities and Stockholders' Deficit $ 1,386 $ 19,596 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 NIKA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED (Unaudited) For the Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue $ $ $ $ Operating Expenses: General and administrative $ 6,302 $ 10,143 $ 28,816 $ 57,519 Professional fees 2,065 54,523 Total operating expenses 8,367 10,143 83,339 57,519 Loss from operations ( 8,367 ) ( 10,143 ) ( 83,339 ) ( 57,519 ) Loss before provision for income taxes ( 8,367 ) ( 10,143 ) ( 83,339 ) ( 57,519 ) Provision for income taxes Net Loss $ ( 8,367 ) $ ( 10,143 ) $ ( 83,339 ) $ ( 57,519 ) Other compre

financial statements have been prepared assuming that the Company will

financial statements have been prepared assuming that the Company will continue as a going concern. The Company may raise additional capital through the sale of its equity securities, through offerings of debt securities, or through borrowings from financial institutions. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. NOTE 4 RELATED PARTY TRANSACTIONS During the period September 30, 2024 and December 31, 2023, Dimitar Slavchev Savov, CEO, advanced the Company $ 103,419 and $83,565, respectively, to pay for general operating expenses. As of September 30, 2024, the total amount due to Mr. Savov is $205,164. The advance in non-interest bearing and due on demand. On July 5, 2024, Nika Pharmaceuticals, Ltd., which at the time was wholly owned by Nika Pharmaceuticals, Inc., wire transferred $5,000 to Nika Pharmaceuticals Inc. that were received on July 9, 2024 to pay for general operating expenses. As of September 30, 2024, the total amount due to Nika Pharmaceuticals Ltd. is $5,000. Exclusive Rights Agreements On April 7, 2022, the Company signed with VITAL FE Joint Stock Company (VITAL) an Exclusive Rights Agreement 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. Under the terms of the agreement the Company issued 8,000,000 shares of Preferred stock to be issued in the name of Dimitar Slavchev Savov. Dimitar Savov is Managing Director

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View this 10-Q filing on SEC EDGAR