AV Therapeutics, Inc.

CIK:0001537293|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	$ 0	$ 0	$ 0	$ 0
Operating expenses:
Consulting fees	81,566	81,132	638,555	90,936
Research and development fees	155,346	197,212	469,563	257,512
Patent legal fees	0	0	62,605	63,573
General and administrative	6,541	2,696	32,802	31,808
Depreciation and amortization	5,152	5,152	15,456	15,455
Total operating expenses	248,605	286,192	1,218,981	459,284
Loss from operations	(248,605)	(286,192)	(1,218,981)	(459,284)
Other income (expense):
Interest expense	0	(167)	0	(691)
Unrealized gain on change in fair value of derivative liabilities	226,904	0	888,771	0
Total other income (expense)	226,904	(167)	888,771	(691)
Net loss	$ (21,701)	$ (286,359)	$ (330,210)	$ (459,975)
Net Loss Per Share - Basic and Diluted (in Dollars per share)	$ 0.00	$ 0.00	$ 0.00	$ (0.01)
Weighted Average Number of Common Shares Outstanding - Basic and Diluted (in Shares)	81,747,177	67,503,930	79,645,135	67,195,016

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net loss	$ (330,210)	$ (459,975)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization	15,132	15,131
Depreciation	324	324
Stock-based compensation	281,603	0
Unrealized gain on change in fair value of derivative liabilities	(888,771)	0
Changes in operating assets and liabilities:
Prepaid expenses	39,250	0
Accounts payable and accrued expenses	58,643	197,145
Net cash used in operating activities	(824,029)	(247,375)
Cash flows from financing activities:
Proceeds received from issuance of common stock, net of issuance costs	525,000	225,000
Proceeds received from note payable - related parties	(4,000)	0
Net cash provided by financing activities	521,000	225,000
Net (decrease) increase in cash	(303,029)	(22,375)
Cash at beginning of period	576,251	97,436
Cash at end of period	273,222	75,061
Supplemental disclosures:
Cash paid for interest	0	0
Cash paid for taxes	0	0
Non-cash investing and financing activities:
Recognition of derivative liability - warrants	1,080,893	0
Stock Issued for Accrued Executive Compensation [Member]
Non-cash investing and financing activities:
Issuance of common stock	72,000	0
Stock Issued for Accrued Consulting Fees [Member]
Non-cash investing and financing activities:
Issuance of common stock	$ 27,500	$ 0

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current assets:
Cash	$ 273,222	$ 576,251
Prepaid expenses	20,750	60,000
Total current assets	293,972	636,251
Property and equipment, net of accumulated depreciation of $1,403 and $1,079, respectively	755	1,079
Intangible assets, net of accumulated amortization of $97,535 and $82,403, respectively	132,465	147,597
Total assets	427,192	784,927
Current liabilities:
Accounts payable and accrued expenses	465,193	452,050
Derivative liability - warrants	192,122	0
Notes payable	97,000	97,000
Notes payable - related parties	197,705	201,705
Total current liabilities	952,020	750,755
Commitments and Contingencies
Stockholders' (deficiency) equity:
Preferred stock, $0.0001 par value: 50,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.0001 par value: 250,000,000 shares authorized; 81,880,963 and 72,000,000 shares issued and outstanding, respectively	8,188	7,200
Additional paid in capital	4,534,061	3,707,680
Shares Issuable	0	1,056,159
Accumulated deficit	(5,067,077)	(4,736,867)
Total stockholders' (deficiency) equity	(524,828)	34,172
Total liabilities and stockholders' (deficiency) equity	$ 427,192	$ 784,927