Item
1. Business.
Prior
Operations
We
were incorporated on July 15, 2002 under the laws of the State of Nevada under the name Titan Web Solutions, Inc. with a view to offering
a full range of business consulting services in the retail specialty coffee industry in China.
On
April 9, 2015 we merged with our wholly-owned subsidiary Cyber Apps World Inc. and concurrently changed our name to Cyber Apps World
Inc. Our business focused on the development of mobile applications focusing on allowing users around the world to save money on products
and services from member merchants and suppliers instantly with mobile coupons, using their desktops and/or mobile devices, including
smartphones. We have not been successful in developing revenue from our operations.
SmartSaveNow
Website
We
completed the acquisition of a website originally located at www.savinstultra.com and now to be located at www.smartsavenow.com (the
“Website”), including, without limitation, the website domain, content, data, and all incorporated technology on April 19,
2019. We acquired a 100% undivided interest in and to the Website in consideration of us issuing 11,500,000 shares of our common stock
to the vendor at closing.
The
Website consists of a search engine that users access in order to compare the prices of different consumer products, which is known as
a price comparison website. The initial version of the website is published and is undergoing further development. It currently features
consumer items in various product categories, such as electronics, computers, cellular phones, office equipment, clothing, books, toys,
and jewellery. As well, the Website includes a search function that allows users to input key words and receive a list of available consumer
items that include those words. The Website was developed in the Ukraine and India.
A
price comparison website is a search engine, which consumers use to compare the prices of different products. These websites are also
known as comparison shopping websites, price analysis tools, comparison shopping agents, and shopbots. Users can compare products using
relevant criteria, including price, product ratings, brand names, features, and consumer quality ratings. Such websites allow consumers
to review products and determine the retailer that sell desired items at the lowest price. Price comparison websites offer benefits to
consumers, when they navigate potentially complex purchases, and they reduce the search time by comparing similar products in one place.
There are also advantages for the product or service providers because they bring together shoppers and firms more easily and, in some
cases, more inexpensively than other acquisition channels. This can reduce entry barriers that providers might otherwise face. As well,
it can stimulate stronger competition and innovation between firms and encourage new entrants, resulting in further benefits for consumers.
Most price comparison websites use a method called “scraping,” which basically scours vendor websites for content. Often
these basic price comparison websites earn their revenue by a service called a “clickthrough” or “referral fee,”
which means each time a consumer clicks on specific vendors, the price comparison site makes a small commission. In the past few years
this service has been supplemented by other services and more advanced services that automatically checks companies’ websites for
prices.
The
price comparison website market is expected to increase at a significant growth rate during the upcoming years. The global price comparison
website market is supported by various growth drivers, such as increased internet penetration and an increase in smartphone users. Price
comparison websites have become increasingly popular around the world over the last ten years. In the United Kingdom and the United States,
market research groups have estimated that annually $1.5 billion transactions pass through this well-established industry, according
to Wize Commerce. Because of the ease of use and straight-forward manner of these numerous websites, western consumers use price comparison
websites for different price-checking exercises, including shopping, vacations, and home utilities.
We
intend to further develop the Website to specifically market to American consumers by providing real-time pricing for items that major
U.S. retailers, including Wal-Mart, Best Buy, EBay, and Target, publish on their company websites. The Website will show products available
at the lowest price among all sellers and incorporate this automatically into its digital marketing advertising. In order to access the
content of the Website, consumers must register and establish an account with us and provide us with contact information, including a
name, email address, and telephone number. Account holders who consent to the receipt of electronic correspondence from us will receive
periodic emails from us that highlight sales items for specific consumer products that reflect their Website search interests.
During
initial development, the vendor of the Website is able to offer products from 86 existing sellers and has agreements with an additional
420 sellers. As with other price comparison websites, we will not charge users anything to use the Website. We intend to generate revenue
by securing commission payments from retailers and other sellers. These payments will vary from seller to seller, but will either consist
of a fee for each time one of our users accesses a retail website through our website, a fee for each time one of our users buys an item
from a retailer or register with their website, or a flat fee for inclusion on our website. Each fee arrangement with a retailer will
be negotiated separately.
Since
our acquisition of the Website and related technology, we have retained software developers in India that have continued development
of the Website for commercial deployment. Given the relative low cost of using Indian software developers, we anticipate being able to
expand the development of our website at a reasonable cost compared to competitors that employ software developers in developed countries
while still maintaining Website quality. The recorded value of the Website and related technology on our balance sheet at July 31, 2021
consists of the fair value of the assets based on an independent business valuation at the time of acquisition, as well as additional
capital that we have expended on the Website since the acquisition. We expect that the Website will be formally launched in 2022.
WarpSpeedTaxi
App
We
intend to complete the development of and operate a ride-hailing and food delivery computer and mobile device application known as “WarpSpeed
Taxi”. A ride-hailing service, also known as app-taxi, e-taxi, or a mobility service provider, is a service that, via websites
and mobile apps, matches passengers with drivers of vehicles for hire that are not licensed taxi drivers. The computer application that
we are developing is intended to provide travelers with convenient door-to-door transport that leverages smart mobility platforms to
connect drivers with passengers and lets drivers use their personal vehicles. Ride-hailing, like a traditional taxi service, facilitates
drivers providing rides to customers for a fee. However, ride-hailing offers additional capabilities, such as efficient pricing tools,
matching platforms, rating systems, and food delivery. We acquired the WarpSpeedTaxi application in its current phase of development
from a private Wyoming corporation for total consideration of $300,000 payable in stages. To date, we have paid the vendor $10,000. We
owe the vendor an additional $40,000 upon its delivery of a working prototype of the application to us, which development we will fund.
We anticipate that we will need to spend an additional $10,000 in order to complete the computer application. We have also issued the
vendor a promissory note for the balance of the purchase price of $250,000, which is due upon demand provided that the vendor cannot
demand payment of the note until after December 31, 2023. The note bears simple interest at a rate of 5% per year. There is no penalty
if we decide to pay the note at any time prior to December 31, 2023.
We
anticipate that our WarpSpeedTaxi application will allow customers to hire a standard and luxury motor vehicles via a smartphone or personal
computer for both one-way and round-trips with the price based on the distance travelled and the current level of demand for vehicles.
In addition to transporting passengers, the application may also be used for deliveries of goods from restaurants, grocery stores, and
other businesses that typically utilize local vehicle courier services.
Customers
will use the application to request a ride or the delivery of goods. Drivers that we recruit and approve, through confirmation of no
criminal record, a clean driving history, and access to a suitable insured vehicle, will act as independent contractors and set their
own work hours. They will connect with customers via our application, pick up customers or goods to be delivered in accordance with the
customer’s request, and then drive the customers or goods to their destination. Customers will pay for the transportation through
the application by way of credit card. Drivers will receive payments for each ride or delivery they complete via a weekly direct deposit
to their bank accounts.
Privacy
and Value Software
On
March 15, 2021, we entered into an agreement to acquire employee monitoring software known as “Privacy and Value”. The software
product attempts to balance employer concerns regarding employee efficiency and productivity with employee privacy.
As
companies are increasingly attempting to meet the demands of employees that want work environment flexibility and are forced to avoid
employee congregation in response to the current global Covid-19 pandemic, they are retaining staff that either work from home or they
rely on outsourcing to retain employees and independent contractors in other countries. One of the primary concerns with having staff
work in a separate location that removes them from the daily, direct oversight of management is that employee productivity will suffer.
One of the responses to this concern is for businesses to use some form of worker surveillance in order to ensure that employees are
utilizing their work time efficiently. However, businesses may face pushback from their staff due to concerns that their personal privacy
is compromised when they are subject to constant monitoring during work hours. They may resist practices such as webcam surveillance
or persistent computer screen observation.
To
address employer concerns regarding staff efficiency and employee concerns regarding privacy, we intend market and sell the Privacy and
Value software that has features to monitor worker computer productivity while providing employees with reasonable privacy during their
work days. The features of the software are as follows:
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the
software will monitor the employees’ computer desktops while they are actually working on the system. Surveillance will commence
when an employee logs on to his or her computer through our software and will continue until the employee logs out of the system. After
an employee signs out of the software, recording and monitoring will cease and the employee can access his or her computer contents and
the Internet for personal purposes;
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when
the employee is logged in, the software will allow management to maintain real-time access to employee activity and to view each employee’s
desktop screen content and the keystrokes that the employee is typing. All of this information will also be recorded and stored for future
management use with all information time stamped. The file name for each day’s recording will be the employee’s first name,
last name, and the year, month, and day, which will allow a manager to identify the appropriate recording without difficulty; and
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based
on employee actions, the software will calculate the amount of time that the employee was logged into the system based on a searchable
time period (e.g., a shift, a week, or a month). It will also indicate the length of various time periods during which the employee did
not make any keystrokes on his or her computer and allow the manager to quickly access the recording of employee’s desktop at the
times when keystrokes commenced and stopped. The software will also provide details of the length of each break that the employee takes
during the work period analysed. It will also have tools that the manager can use, in tabular and graphic form, to compare the efficiency
of employees in terms of keystrokes and time logged in to their computer.
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In
consideration of the vendor selling the Privacy and Value software to us, we agreed to:
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(a)
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pay
$10,000 to the vendor upon execution of the agreement; and
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(b)
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pay,
by June 15, 2021, an amount equal to the estimation of value of a 50% interest in the Software and the related data and databases based
on an independent business valuation completed by a valuator who is accredited by the American Society of Appraisers and acceptable to
both parties less the $10,000 cash payment noted above. Notwithstanding the valuation’s estimation of value of the software, the
amount of the additional payment shall not be less than $50,000 and shall not exceed $250,000. We obtained an independent business valuation
on the Software in June 2021, which indicated that we would have to pay $250,000 to complete the acquisition of a 50% interest in the
Software.
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We
did not make the payment due on June 15, 2021 and are attempting to renegotiate the terms of the acquisition.
Friendly
and Fast Delivery Service
We
are currently developing a delivery computer application known as Friendly and Fast. The application is being designed to allow users
to order food, groceries, and other courier services. Friendly and Fast’s focus will strictly be delivery of goods and will be
a compliment to the WarpSpeed Taxi app that will also focus on ride-hailing services.
Friendly
and Fast will target both individuals and corporate customer segments. For corporate clients, this feature will give discounts to restaurant
owners, grocery stores, couriers, and similar enterprises so they can affordably provide deliveries to their customers. We are currently
organizing beta testing of the application in Ahmedabad, India and have commissioned a private company to be primarily responsible for
the completion of the application development.
Financial
Condition
Our
financial statements for the period ended July 31, 2021 have been prepared on a going concern basis which contemplates the realization
of assets and settlement of liabilities and commitments in the normal course of business. We have not generated any revenue as of July
31, 2021. Management recognizes that our continued existence is dependent upon its ability to obtain needed working capital through additional
equity and/or debt financing and revenue to cover expenses as we continue to incur losses.
Since
our incorporation, we have financed our operations almost exclusively through our sale of equity and through advances from our shareholders.
Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as we
may not receive significant revenue from our and proposed business operations. There is no guarantee that we will be successful in arranging
financing on acceptable terms.
Our
ability to raise additional capital is affected by trends and uncertainties beyond its control. We do not currently have any arrangements
for financing and we may not be able to find such financing if required. Obtaining additional financing would be subject to a number
of factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional financing unavailable
to us. These uncertainties raise substantial doubt about our ability to continue as a going concern.
Competition
SmartSaveNow
Website
The
global e-commerce market, including price comparison website marketing, is highly competitive because of the presence of many large established
players. Some of the largest competitors are Google Shopping, NexTag, PriceGrabber, Shopping.com, Shopzilla, Become, Bing Shopping, and
Pronto. As well, there are numerous small competitors that will compete with us.
Price
comparison websites and mobile applications are segmented into different types from consumer products comparison sites to some specialist
sites that focus on specific products.
WarpSpeed
Taxi and Friendly and Fast Applications
There
is also intense competition between traditional taxi and courier companies, and ride-hailing and delivery services. Companies providing
ride-hailing services are transitioning from providing traditional taxi services to additional services, such as ride sharing and food
and consumer goods delivery, in order to expand the overall market for transportation services.
The
ride-hailing market is quite fragmented as there is high competition in the market among major players. Since this market is expanding,
new entrants are emerging as well. We will compete with other ride-hailing companies, including Uber, Lyft, Door Dash, and Grubhub that
are well-established in North America. In other markets where we may wish to expand, there are also well-established regional companies,
such as DiDi (China), Ola (India), Grab (southeast Asia), Bolt (Europe, Africa, and the Middle East), and Cabify (South America). These
companies generally have greater financial and technical resources, industry expertise, and managerial capabilities than we do. Most
of our competitors benefit from established brand awareness with current and prospective customers.
We
believe that industry competition for customers is primarily based on brand recognition, marketing, price, and quality of service. We
hope to be able to compete effectively based on these factors though we primarily hope to develop a niche market by providing lower commission
charges to restaurants that agree to utilize our food delivery services and by developing underexplored markets, such as businesses that
use local courier services for non-food deliveries and rely on traditional vehicle courier companies.
Privacy
and Value Software
The
software and computer application development business is also extremely fragmented and competitive. The sector includes large, established
corporations that develop their products in-house and have the capability and financial resources necessary in order to launch and market
their products, as well as large custom software development companies that design products according to client specifications, such
as Praxent, Orases, 10Pearls, Fingent, Tack Mobile, and Mercury Development. Additionally, there are smaller niche market participants
that focus on a single or small number of products that are well-tailored to specific commercial or consumer demands. Many of these competitors
have international operations and are able to not only compete in terms of software quality, but also based on price given their access
to software development talent in developing countries, such as India, where skilled labor is less expensive.
Patents
and Trademarks
Due
to the costs involved and the potential inability to qualify, we have not filed for patent protection of our products and our trademarks.
We have not sought legal advice regarding whether or not patent protection of our technology is possible. Accordingly, our business is
subject to the risk that competitors could either copy our technology or release competing products.
Subject
to financing, we will seek legal advice regarding the potential to patent our website features and will consider filing for trademark
protection of our SmartSaveNow and WarpSpeed Taxi trade names, logos, and related website content.
Government
Regulation
We
are subject to laws that require protection of user privacy and user data. In our processing of account registrations, we will receive
and store a large volume of personally identifiable data. This data is increasingly subject to laws and regulations in numerous jurisdictions
around the world, including the United States through its Privacy Act and the Commission of the European Union through its General Data
Protection Regulation. Such government action is typically intended to protect the privacy of personal data that is collected, processed,
and transmitted in or from the governing jurisdiction.
In
addition, our long-term business strategy may include geographic expansion into additional jurisdictions, many of which regions and countries
have different legislation, regulatory environments, and tax laws. Compliance with legal, regulatory, and tax requirements around the
world places demands on our time and resources, and we may nonetheless experience unforeseen and potentially adverse legal, regulatory,
or tax consequences, which may have an adverse effect on our business.
Research
and Development
We
have not incurred any expenditures on research and development activities.
Employees
As
of the date of this report, we have no employees. We have retained independent consultants and contractors who are presently completing
the necessary additional development of our products.
Subsidiaries
We
have a wholly-owned subsidiary, RTsave Inc. that holds our interest in the SmartSaveNow website. We also own a majority interest in WarpSpeedTaxi
Inc., which holds the WarpSpeedTaxi computer application.