UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~March~~June 3130, 2024

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___ to ___

Commission file number: 000-54847

C & C TOURS, INC.

(Exact name of registrant as specified in its charter)

Wyoming

(State or other jurisdiction of incorporation or organization)

87-0463118

(I.R.S. Employer Identification No.)

440 East 400 South Ste 300, Salt Lake City, Utah

(Address of principal executive offices)

84111

(Zip code)

(801) 323-2395

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐

Non-accelerated filer ☑

Accelerated filer ☐

Smaller reporting company ☑

Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☑ No ☐

The number of shares outstanding of the registrant’s ~~Common~~common ~~Stock~~stock as of ~~May~~August 62, 2024 was 2,937,000.

TABLE OF CONTENTS

	PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements (Unaudited)	3
	Condensed Balance Sheets (Unaudited)	4
	Condensed Statements of Operations (Unaudited)	5
	Condensed Statements of Stockholders' Deficit (Unaudited)	6
	Condensed Statements of Cash Flows (Unaudited)	7
	Condensed Notes to the Unaudited Financial Statements	8
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	9
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	11
Item 4.	Controls and Procedures	11

	PART II - OTHER INFORMATION

Item 1.	Legal Proceedings	12
Item 1a.	Risk Factors Information	12
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	12
Item 3.	Defaults Upon Senior Securities	12
Item 4.	Mine Safety Disclosures	12
Item 5.	Other Information	12
Item 6.	Exhibits	12
Signatures		13

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

C & C TOURS, INC.

Condensed Financial Statements

~~March~~June 3130, 2024

(Unaudited)

C & C TOURS, INC.

Condensed Balance Sheets

(Unaudited)


	JUNE 30, 2024 (Unaudited)			DEC 31,2023
ASSETS
CURRENT ASSETS
Cash	$	6,224		$	17,225
Total current assets		6,224			17,225

TOTAL ASSETS	$	6,224		$	17,225

LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable	$	9,000		$	6,000
Loans Payable - Current		242,290			242,290
Accrued interest		129,562			119,877
Total current liabilities		380,852			368,167
TOTAL LIABILITIES		380,852			368,167
Commitments and Contingencies		—			—

STOCKHOLDERS' DEFICIT
Common stock, 20,000,000 shares authorized at $.001 par value, 2,937,000 shares issued and outstanding		2,937			2,937
Additional paid-in capital		34,970			34,970
Accumulated deficit		(412,536	)		(388,849	)
Total stockholders' deficit		(374,629	)		(350,942	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	6,224		$	17,225

	MARCH 31, 2024			DEC 31, 2023
ASSETS
CURRENT ASSETS
Cash	$	13,725		$	17,225
Total current assets		13,725			17,225
TOTAL ASSETS	$	13,725		$	17,225
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable	$	12,551		$	6,000
Notes payable		242,290			242,290
Accrued interest		124,720			119,877
Total current liabilities		379,561			368,167
TOTAL LIABILITIES		379,561			368,167
Commitments and Contingencies		—			—
STOCKHOLDERS' DEFICIT
Common stock, 20,000,000 shares authorized at $.001 par value, 2,937,000 shares issued and outstanding		2,937			2,937
Additional paid-in capital		34,970			34,970
Accumulated deficit		(403,743	)		(388,849	)
Total stockholders' deficit		(365,836	)		(350,942	)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	13,725		$	17,225

The accompanying notes are an integral part of these unaudited condensed financial statements.

C & C TOURS, INC.

Condensed Statements of Operations

(Unaudited)

	FOR THE THREE MONTHS ENDED MARCH 31, 2024			FOR THE THREE MONTHS ENDED MARCH 31, 2023
	FOR THE THREE MONTHS ENDED JUNE 30, 2024			FOR THE THREE MONTHS ENDED JUNE 30, 2023			FOR THE SIX MONTHS ENDED JUNE 30, 2024			FOR THE SIX MONTHS ENDED JUNE 30, 2023
Revenues	$	—		$	—		$	—		$	—
Operating expenses
General and administrative		103,~~051~~950			52,~~700~~900			14,001			8,600
Total operating expenses		103,~~051~~950			52,~~700~~900			14,001			8,600
Loss from operations		(103,~~051~~950	)		(52,~~700~~900	)		(14,001	)		(8,600	)
Other income (expense)
Interest expense		(4,843	)		(4,~~167~~385	)		(9,686	)		(8,552	)
Total other income (expense)		(4,843	)		(4,~~167~~385	)		(9,686	)		(7,947	)
Loss before income taxes		(148,~~894~~793	)		(97,~~867~~285	)		(23,687	)		(17,152	)
Income tax expense		—			—			—			—
Net loss	$	(148,~~894~~793	)	$	(97,~~867~~285	)	$	(23,687	)	$	(17,152	)
Basic and diluted net loss per share	$	(0.0100	)	$	(0.00	)	$	(0.01	)	$	(0.01	)
Basic and diluted weighted average shares outstanding		2,937,000			2,937,000			2,937,000			2,937,000

The accompanying notes are an integral part of these unaudited condensed financial statements.

C & C TOURS, INC.

Condensed Statements of Stockholders’ Deficit

For the ~~three~~six months ended ~~March~~June 3130, 2024 and 2023

(Unaudited)

	Common Stock				Additional Paid-in		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Deficit
Balance December 31, 2022		2,937,000	$	2,937	$	34,970	$	(356,380	)	$	(318,473	)
Net loss for the three months ended March 31, 2023		—		—		—		(9,867	)		(9,867	)
Balance March 31, 2023		2,937,000	$	2,937	$	34,970	$	(366,247	)	$	(328,340	)
Net loss for the three months ended June 30, 2023		—		—		—		(7,285	)		(7,285	)
Balance June 30, 2023		2,937,000	$	2,937	$	34,970	$	(373,532	)	$	(335,625	)
Balance December 31, 2023		2,937,000	$	2,937	$	34,970	$	(388,849	)	$	(350,942	)
Net loss for the three months ended March 31, 2024		—		—		—		(14,894	)		(14,894	)
Balance March 31, 2024		2,937,000	$	2,937	$	34,970	$	(403,743	)	$	(365,836	)
Net loss for the three months ended June 30, 2024		—		—		—		(8,793	)		(8,793	)
Balance June 30, 2024		2,937,000	$	2,937	$	34,970	$	(412,536	)	$	(374,629	)

The accompanying notes are an integral part of these unaudited condensed financial statements.

C & C TOURS, INC.

Condensed Statements of Cash Flows

(Unaudited)

	FOR THE THREE MONTHS ENDED MARCH 31, 2024			FOR THE THREE MONTHS ENDED MARCH 31, 2023
	FOR THE SIX MONTHS ENDED JUNE 30, 2024			FOR THE SIX MONTHS ENDED JUNE 30, 2023
Cash Flows from Operating Activities
Net loss	$	(1423,~~894~~687	)	$	(917,~~867~~152	)
Adjustments to reconcile net loss to net cash used by operating activities:
Changes in operating assets and liabilities:
Increase in accounts payable		63,~~551~~000			13,~~500~~000
Increase in accrued interest		49,~~843~~686			48,~~167~~552
Net cash used by operating activities		(311,~~500~~001	)		(45,~~200~~600	)
Cash Flows from Investing Activities
Net cash provided (used) by investing activities		—			—
Cash Flows from Financing Activities
Proceeds from notes payable		—			8,900
Net cash provided by financing activities		—			8,900
Net Increase (decrease) in Cash		(311,~~500~~001	)		43,~~700~~300
Cash at Beginning of Period		17,225			324
Cash at End of Period	$	136,~~725~~224		$	53,~~024~~624
Supplemental Cash Flow Information:
Cash paid for interest	$	—		$	—
Cash paid for income taxes	$	—		$	—

The accompanying notes are an integral part of these unaudited condensed financial statements.

C&C Tours, Inc.

Notes to the Condensed Financial Statements

~~March~~June 3130, 2024

(Unaudited)

NOTE 1 – CONDENSED FINANCIAL STATEMENTS

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the period ended ~~March~~June 3130, 2024, and for ~~all~~ all periods presented have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s December 31, 2023, audited financial statements as reported in its Form ~~10-K~~10K. The results of operations for the ~~three~~six-month period ended June ~~March 31~~30, 2024, are not necessarily indicative of the operating results for the full year ended December 31, ~~2024~~2023.

NOTE 2 – GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has incurred losses since inception, has negative cash flows from operations, and has no revenue-generating activities. Its activities have been limited for the past several years and it is dependent upon financing to continue operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plan to acquire or merge with other operating companies. The COVID-19 pandemic could have an impact on our ability to obtain financing to fund our operations. The Company is unable to predict the ultimate impact at this time.

NOTE 3 – NOTES PAYABLE

As of ~~March~~June 3130, 2024, and December 31, 2023, notes ~~payable~~ payable were $242,~~290~~ 150 and $242,~~290~~150 , respectively. The Company received $~~7,500~~0 and $78,~~500~~900 in note payable proceeds during the ~~three~~six months ended ~~March 31~~June 30, 2024, and 2023, respectively. These loans are due on demand and bear interest at the rate of 8%. Interest expense on the loans for the ~~three~~six months ended ~~March~~June 3130, 2024 and 2023, were $49,~~843~~ 686 and $48,~~167~~552, respectively, resulting in accrued interest of $~~124~~129,~~720~~ 562 and $119,877 at ~~March~~June 3130, 2024, and December 31, 2023, respectively.

NOTE 4 – SUBSEQUENT EVENTS

The Company’s management reviewed all material events through the date of this filing and has determined that there are no material subsequent events to report.

FORWARD-LOOKING STATEMENTS

The Securities and Exchange Commission (“SEC”) encourages companies to disclose forward-looking information so that investors can better understand future prospects and make informed investment decisions. This report contains these types of statements. Words such as “may,” “intend,” “expect,” “believe,” “anticipate,” “estimate,” “project,” or “continue” or comparable terminology used in connection with any discussion of future operating results or financial performance identify forward-looking statements. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. All forward-looking statements reflect our present expectation of future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

In this report references to “C & C Tours,” “the Company,” “we,” “us,” and “our” refer to C & C Tours, Inc.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Executive Overview

We have not recorded revenues from operations as of the date of this report and we have not established an ongoing source of revenues sufficient to cover our operating costs. These conditions raise substantial doubt about our ability to continue as a going concern. We are currently devoting our efforts to obtain capital from management, significant stockholders or third parties to cover operating expenses; however, there is no assurance that additional funding will be available. Our ability to continue as a going concern during the long term is dependent upon our ability to find a suitable company and acquire or enter into a merger with such company.

The type of business opportunity with which we acquire or merge will affect our profitability for the long term. We may consider a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur through a public offering.

Our management has not had any contact or discussions with any representative of any other entity regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may complete a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

We anticipate that the Company will likely be able to effect only one business combination, due primarily to our limited financing and the dilution of interest for present and prospective stockholders, which is likely to occur as a result of our management’s plan to offer a controlling interest to a target business in order to achieve a tax-free reorganization. This lack of diversification should be considered a substantial risk in investing in us , because it will not permit us to offset potential losses from one venture against gains from another.

We anticipate that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

Liquidity and Capital Resources

We have not recorded revenues from operations since inception and we have relied primarily upon other parties to provide loans and pay for operating expenses. At ~~March~~June 3130, 2024, we had cash of $136,~~725~~224 compared to $17,225 at December 31, 2023. Our total liabilities increased to $~~379~~380,~~561~~852 at ~~March~~June 3130, 2024, compared to $368,167 at December 31, 2023. The increase in liabilities primarily represents advances and services provided by third parties and accrued interest.

We intend to obtain capital from management, significant stockholders and third parties to cover minimal operations; however, there is no assurance that additional funding will be available. Our ability to continue as a going concern during the long term is dependent upon our ability to find a suitable business opportunity and acquire or enter into a merger with such company. The type of business opportunity with which we acquire or merge will affect our profitability for the long term.

During the next 12 months we anticipate incurring additional costs related to the filing of Exchange Act reports. We believe we will be able to meet these costs through advances and loans provided by management, significant stockholders or third parties. We may also rely on the issuance of our ~~Common~~common ~~Stock~~stock in lieu of cash to convert debt or pay for expenses.

Results of Operations

We did not record ~~operating~~ revenues in either 2024 or 2023. General and administrative expense for the ~~three~~six months ended ~~March~~June 3130, 2024 (“2024 ~~three~~six-month period”), was $1014,~~051~~ 001 compared to $58,~~700~~600 the ~~three~~six months ended June ~~March 31~~30, 2023 (“2023 ~~three~~six-month period”). General and administrative expense for the three months ended June 30, 2024 (“2024 second quarter”) was $3,950 compared to $2,900 for the three months ended June 30, 2023 (“2023 second quarter”)

Total other expense increased to $4 9,~~843~~686 for the 2024 ~~three~~ six-month period, compared to $48,~~167~~552 for the 2023 ~~three~~six-month period. Total other expense increased to $4,843 for the 2024 second quarter compared to $7,285 for the 2024 second quarter. Total other expense represents interest expense related to notes payable.

Our net loss increased to $1423,~~894~~687 for the 2024 ~~three~~six-month period, compared to $917,~~867~~152 for the 2023 ~~three~~six-month period. Our net loss increased to $8,793 for the 2024 second quarter compared to $6,857 for the 2023 second quarter. Management expects net losses to continue until we acquire or merge with a business opportunity.

Commitments and Obligations

At ~~March~~June 3130, 2024, we reported notes payable totaling $242,~~230~~150 representing services received, as well as cash advances received from third parties. All of the notes payable are uncollateralized, carry interest at 8% and are due on demand. Accrued interest related to these notes payable totaled $~~124~~129,~~720~~562 at ~~March~~June 3130, 2024. No payments on principal or interest have been made to date.

A third-party consultant has provided professional services, paid for legal, accounting and administrative services on our behalf and/or provided advances to cover our operating costs. These accumulated services total $79,~~500~~000 as of ~~March~~June 3130, 2024, are not formally documented, have no repayment terms and thus we have recognized them as accounts payable.

Off-Balance Sheet Arrangements

We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.

Emerging Growth Company

We qualify as an emerging growth company as that term is used in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). A company qualifies as an emerging growth company if it has total annual gross revenues of less than $1.07 billion during its most recently completed fiscal year and, as of December 8, 2011, had not sold common equity securities under a registration statement. Under the JOBS Act we are permitted to, and intend to, rely on exemptions from certain disclosure requirements.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable to smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC. This information is accumulated to allow our management to make timely decisions regarding required disclosure. Our President, who serves as our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this report and he determined that our disclosure controls and procedures were not effective due to a control deficiency. During the period we did not have additional personnel to allow segregation of duties to ensure the completeness or accuracy of our information. Due to the size and operations of the Company we are unable to remediate this deficiency until we acquire or merge with another company.

Changes to Internal Control over Financial Reporting

Our management is responsible for establishing ~~and~~ and maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act). Management ~~conducted~~ conducted an evaluation of our internal control over financial reporting and determined that there were no changes made in our internal control over financial reporting during the quarter ended ~~March~~June 3130, 2024, that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We know of no material, existing or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our company.

ITEM 1A. RISK FACTORS

A smaller reporting company is not required to provide the information required by this Item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Part I Exhibits

No.	Description
31.1	Principal Executive Officer Certification
31.2	Principal Financial Officer Certification
32.1	Section 1350 Certification

Part II Exhibits

No.	Description
3(i).1	Articles of Incorporation of C & C Tours, dated February 2, 1989 (Incorporated by reference to exhibit 3(i).1 to Form 10, filed November 8, 2012)
3(i).2	Articles of Continuance of C & C Tours, dated June 12, 2012 (Incorporated by reference to exhibit 3(i).2 to Form 10, filed November 8, 2012)
3(ii)	Bylaws of C & C Tours, dated May 20, 2012 (Incorporated by reference to exhibit 3(ii) to Form 10, filed November 8, 2012)
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Label Linkbase Document
101.PRE**	XBRL Taxonomy Presentation Linkbase Document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: ~~May~~August 62, 2024 C & C TOURS, INC. By: /s/ Brett D. Taylor Brett D. Taylor President and Director Principal Financial Officer

Filing Compare · C & C TOURS, INC.