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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 April 30, 2023

 

or

 

 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: 000-50693

 

Cyber Apps World Inc.

(Exact name of registrant as specified in its charter)

 

Nevada   90-0314205
State or other jurisdiction of
incorporation or organization
  (I.R.S. Employer
Identification No.)

 

9436 W. Lake Mead Blvd., Ste. 5-53

Las Vegas NV 89134-8340

(Address of principal executive offices) (Zip Code)

 

(702805-0632

Registrant’s telephone number, including area code

 

N/A

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered under Section 12(b) of the Exchange 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 and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files). Yes ☐ No ☒

 

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

 

Large accelerated filer Accelerated filer
Non-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 ☒

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

1,272,917 shares of common stock are issued and outstanding as of June 12, 2023.

 

 

 

 

 

Table of Contents

INDEX

 

Page
 
PART I FINANCIAL INFORMATION 1
     
Item 1. Financial Statements (unaudited)  
     
  CONDENSED BALANCE SHEETS as of April 30, 2023 and July 31, 2022 2
     
 

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS for the three months and nine months ended April 30, 2023 and 2022

3
     
  CONDENSED STATEMENT STOCKHOLDERS’ EQUITY for the nine months ended April 30, 2023 and 2022 4
     
  CONDENSED STATEMENTS OF CASH FLOWS for the nine months ended April 30, 2023, and 2022 5
     
  NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS 6
     
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 8
     
Item 3 Quantitative and Qualitative Disclosures About Market Risk  
     
Item 4. Controls and Procedures 9
     
PART II OTHER INFORMATION 10
     
Item 1. Legal Proceedings 10
     
Item 1A. Risk Factors  
     
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 10
     
Item 3. Defaults Upon Senior Securities. 10
     
Item 4 Mine Safety Disclosures 10
     
Item 5. Other Information 10
     
Item 6. Exhibits 10
     
SIGNATURES 11

 

i

 

 

PART I FINANCIAL INFORMATION

 

Certain information and footnote disclosures required under accounting principles generally accepted in the United States of America have been condensed or omitted from the following financial statements pursuant to the rules and regulations of the Securities and Exchange Commission. It is suggested that the following financial statements be read in conjunction with the year-end financial statements and notes thereto included in the Company’s Annual Report on Form 10K for the year ended July 31, 2022. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

 

The results of operations for the three months and nine months ended April 30, 2023 are not necessarily indicative of the results for the entire fiscal year or for any other period.

 

1

 

 

CYBER APPS WORLD INC.

CONSOLIDATED BALANCE SHEET (UNAUDITED)

 

   April 30,   July 31, 
   2023   2022 
   $   $ 
Current assets:          
Cash   3    320 
Deposits & prepayments   7,652    7,652 
Total current assets   7,655    7,972 
Other assets:          
Software development - WIP   475,695    414,753 
Total other assets   475,695    414,753 
Total Assets   483,350    422,725 
           
LIABILITIES          
           
Current liabilities:          
Accounts payable and accrued liabilities   90,692    117,770 
Total current liabilities   90,692    117,770 
Long term liabilities:          
Convertible notes payable   180,686    77,200 
Loan payable   11,597    11,597 
Total non-current liabilities   192,283    88,797 
Total Liabilities   282,975    206,567 
           
STOCKHOLDER’S EQUITY          
           
Preferred stock: $0.001 par value, 10,000,000 authorized, 300,000 issued and outstanding as of April 30, 2023 and July 31, 2022   300    100 
           
Common stock: $0.001 par value, 250,000,000 authorized, 1,272,917 issued and outstanding as of April 30, 2023 and 889,011,264 as of July 31, 2022, respectively   506,755    444,701 
Shares to be issued   -    - 
Additional paid in capital   10,624,138    10,654,292 
Accumulated deficit   (10,930,818)   (10,882,935)
Total Stockholder’s Equity   200,375    216,158 
Total Liabilities and Stockholder's Equity   483,350    422,725 

 

(The accompanying notes are an integral part of these unaudited interim condensed financial statements)

 

2

 

 

CYBER APPS WORLD INC.

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS (UNAUDITED)

                                 
  

For the three month

period ended

  

For the nine month

period ended

 
   April 30, 2023   April 30, 2022   April 30, 2023   April 30, 2022 
   $   $   $   $ 
Net Sales                    
    -         -    11 
Cost of Goods Sold                    
    -    -    -    - 
Gross Income   -    -    -    11 
                     
Expenses                    
General and administrative   29,321   58,805    47,884    174,688 
Consolidated loss before interest & taxes   29,321    (58,805)   (47,884)   (174,677)
Income tax   -    -    -    - 
Consolidated net loss   29,321    (58,805)   (47,884)   (174,677)
                     
Net income per share – basic and diluted   0.02    (0.00)   (0.04)   (0.00)
                     
Weighted average shares outstanding – basic and diluted   1,272,917    530,659,518    1,272,917    530,659,518 

 

(The accompanying notes are an integral part of these unaudited interim condensed financial statements)

 

3

 

 

CYBER APPS WORLD INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (UNAUDITED)

For six nine month period ended April 30, 2023 and April 30, 2022

  

                                                                 
   Common Stock   Preferred Stock   Additional Paid in   Shares to be   Accumulated     
   Number   Par Value   Number   Par Value   Capital   issued   Deficit   Total 
       $       $   $   $   $   $ 
Opening Balance as of July 31, 2021   388,986,268    39,079    -    -    10,384,113    23,000    (9,388,089)   1,058,103 
Cancellation of Shares as of January 31, 2022   (141,000,000)   (14,100)   -    -    -    -    -    (14,100)
Common stock issued for cash during the quarter   282,673,250.00    212,005    -    -    287,707    -    -    499,712 
Preferred Stock Issued   -    -    -    -    -    -    -    - 
Shares to be issued   -    -    -    -    -    32,000    -    32,000 
Other   -    -    -    -    -    -    3,465    3,465 
Net Loss   -    -    -    -    -    -    (174,677)   (174,677)
Closing Balance as of April 30, 2022   530,659,518    236,984    -    -    10,671,820    55,000    (9,559,301)   1,404,503 
                                         
Opening Balance as of July 31, 2022   807,616,147    444,701    100,000    100    10,654,292    -    (10,882,935)   216,158 
Issuance of Common Stock   98,045,405    62,052    -    -    (30,152)        -    31,900 
Preferred Stock Issued   -    -    200,000    200    -    -    -    200 
Cancellation of Common  Shares   (904,390,639)   -    -    -    -    -    -    - 
Round up Shares   2,004    2    -    -    (2)   -    -    - 
Net Loss   -         -    -    -    -    (47,884)   (47,884)
Closing Balance as of April 30, 2023   1,272,917    506,755    300,000    300    10,624,138    -    (10,930,818)   200,374 

 

  

(The accompanying notes are an integral part of these unaudited interim condensed financial statements) 

 

4

 

 

CYBER APPS WORLD INC.

CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

                 
   For the nine month
period ended
 
   April 30, 
   2023   2022 
   $   $ 
Cash flows from operating activities          
Net income (loss) for the period   (47,884)   (174,677)
Adjustments to reconcile net loss to cash used in operating activities:          
     Change in operating assets and liabilities          
     Deposits & prepayments   -    35,000 
     Accounts payable and accrued liabilities   (27,078)   (14,668)
Net cash provided from (used in) operating activities   (74,961)   (154,345)
           
Cash flows from investing activities          
     Software development   (60,942)   (70,866)
Net cash used in investing activities   (60,942)   (70,866)
           
Cash flows from financing activities          
     Change in convertible notes payable   103,486    (316,000)
     Change in loan payable   -    (43,482)
     Shares to be issued   -    32,000 
     Proceeds from issuance of preferred shares   200    - 
     Proceeds from issuance of common shares   62,054    197,905 
     Proceeds from issuance of additional paid in capital   (30,154)   287,707 
Net cash provided by financing activities   135,586    158,130 
           
Change in Cash   (317)   (67,082)
           
Cash – beginning of period   320    70,182 
           
Cash – end of period   3    3,100 
           
Supplemental cash flow disclosures          
           
Cash paid For:          
Interest   -    - 
Income tax   -    - 

  

(The accompanying notes are an integral part of these unaudited interim condensed financial statements)

 

5

 

 

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

As of and for the nine-month period ended April 30, 2023 and 2022

 

Note 1. Summary of Significant Accounting Policies

 

Condensed Interim Financial Statements – The accompanying unaudited interim condensed financial statements include the accounts of Cyber Apps World Inc. (the “Company”) and RTsave Inc., a wholly-owned subsidiary incorporated pursuant to the laws of Wyoming. These financial statements are condensed and, therefore, do not include all disclosures normally required by accounting principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the most recent annual financial statements of Cyber Apps World Inc. for the year ended July 31, 2022 included in the Company’s Form 10-K filed with the Securities and Exchange Commission. In particular, the Company’s significant accounting principles were presented as Note 2 to the Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying interim condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying interim condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending July 31, 2022.

 

Going Concern

 

The Company’s financial statements for the nine months ended April 30, 2023 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. The Company did not have any revenue during the nine months ended April 30, 2023. Additionally, for the nine months ended April 30, 2023, the Company reported a net loss of $47,884, operating cash outflows of $74,961, and an accumulated deficit of $10,930,818. Management recognized that the Company’s 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 the Company continues to incur losses.

 

Since its incorporation, the Company has financed its operations through advances from its controlling shareholders, third-party convertible debt, and the sale of its common stock. Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms.

 

The Company’s ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing, and it 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 it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties.

 

The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2022. There were no significant changes to these accounting policies during the nine-month period ended April 30, 2023 and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements

 

Note 2. Net Loss Per Common Share

 

Basic loss per common share is computed based on the weighted average number of shares outstanding during the year. Diluted earnings per common share is computed by dividing net earnings (loss) by the weighted average number of common shares and potential common shares during the specified periods. The Company has no outstanding options or warrants that could affect the calculated number of shares. Common stock equivalents related to convertible debt are detailed in Note 3.

 

6

 

 

Note 3. Convertible Notes Payable and Notes Payable

 

As of April 30, 2023, the Company has a balance of convertible notes of $180,686 (July 31, 2022 - $77,200), including interest and accumulated prepayment expense, which is convertible into common stock at deemed prices ranging from 55% to 61% of the lowest market price of the Company’s stock within the prior 20 to 30 trading days prior to conversion. The convertible notes are due and payable on dates within the next 12 months and bear interest at a rate of 10% per annum.

 

Note 4. Capital Stock

 

Effective January 18, 2013, the Company filed with Secretary of State of Nevada a Certificate of Change that affected a 1:50 reverse split in the Company’s outstanding common stock and a reduction of our authorized common stock in the same 1:50 ratio, from 500,000,000 shares to 10,000,000 shares. We have retroactively restated all share amounts to show effects of the Common Stock split.

 

On January 22, 2015, the Company converted $556,267 of its debt to various lenders into convertible debt and 17,550,000 shares of Common Stock were issued as a result of the debt conversion, causing a beneficial conversion in the amount of $370,845.

 

On April 18, 2016, the Company agreed to convert $62,400 of debt into 4,800,000 shares of common stock, which will reduce the debt and notes owed. The Company recorded a loss on settlement of debt of $33,600. The shares were issued on May 31, 2016.

 

On February 1, 2019, the Company filed with the Secretary of State of Nevada a Certificate of Change that affected a 1:45 reverse split, effective February 19, 2019, in the Company’s outstanding common stock and a concurrent increase in the authorized common stock to 50,000,000 shares with par value $0.01.

 

On October 23, 2019, the Company’s filed with the Secretary of State of Nevada a Certificate of Change that affected a 4:1 forward split, effective February 10, 2020, in the Company’s outstanding common stock and a concurrent increase in the authorized common stock to 250,000,000 shares with par value $0.00075.

 

As of October 30, 2021, the Company increased its authorized capital to 5,000,000,000 shares of common stock with par value $0.00075.

 

On September 19, 2022, the Company filed with the Secretary of State of Nevada a Certificate of Change that affected a 840:1 reverse split in the outstanding common stock and a concurrent decrease in the authorized common stock to 250,000,000 shares with par value $0.001.

 

Note 5. Related Party Transactions

 

None

 

Note 6. Subsequent Events

 

On March 9, 2023, the Company canceled 15,379,375 shares of common stock. These shares were issued on December 22, 2022 and February 22, 2023.

 

7

 

 

ITEM 2. Management’s Discussion and Analysis of Financial Conditions and Results of Operations.

 

Forward Looking Statements

 

This quarterly report contains forward-looking statements that involve risks and uncertainties.  We use words such as anticipate, believe, plan, expect, future, intend and similar expressions to identify such forward-looking statements. You should not place too much reliance on these forward-looking statements.  Our actual results are likely to differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us described in this section.

 

Background

 

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.

 

LytSpid Service

 

We are currently developing a delivery computer application known as LytSpid (pronounced “light speed”). The application is being designed to allow users to order food, groceries, and other courier services. LytSpid’s focus will strictly be delivery of goods.

 

LytSpid 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.

 

Results of Operations for the nine months ended April 30, 2023 and 2022

 

Our net loss for the nine-month period ended April 30, 2023 and 2022, was $47,884 and $174,688 respectively, which consisted entirely of general and administrative fees. We have generated no revenue during the nine-month period ended April 30, 2023 and insignificant revenue during the nine-month period ended April 30, 2022.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As of April 30, 2023, our current assets were $7,655 compared to $7,972 at July 31, 2022. The decrease in current assets is attributable to a payment of our accounts payable and accrued liabilities during the period.

 

As of April 30, 2023, our current liabilities were $90,692 compared to $117,770 at July 31, 2022. The decrease in current liabilities is attributable to a reduction in our accounts payable and accrued liabilities.

 

We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities.

 

Cash Flows from Operating Activities

 

For the nine-month period ended April 30, 2023, net cash flows used in operating activities were $74,961 consisting of a net loss of $47,884, and decrease in accounts payable of $27,078. For the nine-month period ended April 30, 2022, net cash flows provided from operating activities were $154,345 which consisted of a net loss of $114,677 offset by an increase in deposits and prepayments of $35,000 and accounts payable and accrued liabilities of $14,668.

 

8

 

 

Cash Flows from Investing Activities

 

There were $60,942 cash flows from investing activities during the nine-month period ended April 30, 2023. This compares to net cash flows used in investing activities of $70,866 for the continued development of software during the nine-month period ended April 30, 2022.

 

Cash Flows from Financing Activities

 

We have financed our operations primarily from either the issuance of our shares of common stock or from loans. Net cash flows generated from financing activities were $135,586 in the nine-month period ended April 30, 2023 compared to $158,130 in the nine-month period ended April 30, 2022.

 

OFF-BALANCE SHEET ARRANGEMENTS

 

As of the date of this report, we do not have 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 that are material to investors.

 

GOING CONCERN

 

The independent auditors’ report accompanying our July 31, 2022 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared “assuming that we will continue as a going concern,” which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.

 

Item 4. Controls and Procedures.

 

As supervised by our board of directors and our principal executive and principal financial officer, management has established a system of disclosure, controls and procedures and has evaluated the effectiveness of that system. The system and its evaluation are reported on in the below Management’s Annual Report on Internal Control over Financial Reporting. Our principal executive and financial officer have concluded that our disclosure, controls and procedures (as defined in Securities Exchange Act of 1934 (“Exchange Act”) Rule 13a-15(e)) as of April 30, 2022, were not effective, based on the evaluation of these controls and procedures required by paragraph (b) of Rule 13a-15.

 

Management’s Annual Report on Internal Control over Financial Reporting

 

Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Rule 13a-15(f) of the Exchange Act. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles.

 

Management assessed the effectiveness of internal control over financial reporting as of April 30, 2023. We carried out this assessment using the criteria of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control—Integrated Framework.

 

This annual report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm, pursuant to rules of the Securities and Exchange Commission that permit us to provide only management’s report in this annual report. Management concluded in this assessment that as of April 30, 2023, our internal control over financial reporting is not effective.

 

There have been no significant changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the third quarter of our 2023 fiscal year that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

9

 

 

PART II—OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

During the quarter ended April 30, 2023, we agreed to enter into a settlement agreement with EMA Financial, LLC’s (“EMA”) pursuant to which we and EMA mutually released each other from all claims existing between us. As part of the settlement, we voluntarily dismissed our action against EMA in the United States District Court for the Southern District of New York. We have no other legal proceedings active or pending.

 

Subsequent to the quarter, Janbella Group, LLC (“Janbella”) filed a complaint in Superior Court of North Carolina naming us and one of our directors as defendants. Janbella alleges that we have breached the terms of a promissory note and seeks an injunction preventing us from issuing any securities. The hearing to consider the injunction application is scheduled to be heard on July 24, 2023.

 

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

 

None.

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety

 

Not Applicable.

 

Item 5. Other Information

 

None.

 

Item 6. Exhibits.

 

31.1   Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley  Act
     
32.1   Certification of Chief Executive Officer and Chief Financial Officer Under Section 1350 as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act.

 

Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K.

 

SEC Ref. No.   Title of Document
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

 

The XBRL related information in Exhibits 101 to this Annual Report on Form 10-K shall not be deemed “filed” or a part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, and is not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of those sections.

 

10

 

 

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.

 

Cyber Apps World Inc.  
     
Dated: June 12, 2023 By: /s/
    Mohammed Irfan Rafimiya Kazi
    President, Chief Executive Officer, Chief Financial Officer, and director

 

11

 

 

EXHIBIT 31.1

 

CERTIFICATIONS

 

I, Mohammed Irfan Rafimiya Kazi, certify that:

 

1.I have reviewed this quarterly report on Form 10-Q of Cyber Apps World, Inc.;

 

2.Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

 

3.Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

 

4.I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))and internal control over financial reporting (as defined in Exchange Act Rules 13(a)-15(f) and 15(d)-15(f)) for the registrant and I have:

 

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(d)disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

5.I have disclosed, based on my most recent evaluation of internal controls over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: June 12, 2023

 

By: /s/ Mohammed Irfan Rafimiya Kazi

Mohammed Irfan Rafimiya Kazi

Chief Executive Officer and Chief Financial Officer

(Principal Executive Officer, Principal Financial

Officer and Principal Accounting Officer)

 

 

 

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

The undersigned, Mohammed Irfan Rafimiya Kazi, Chief Executive Officer and Chief Financial Officer of Cyber Apps World, Inc. (the “Company”) hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(a)the Quarterly Report on Form 10-Q of the Company for the period ended April 30, 2023 (the “Report”) fully complies with the requirements of Section 13(a) or Section 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

 

(b)the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Date: June 12, 2023

 

By: /s/ Mohammed Irfan Rafimiya Kazi

Mohammed Irfan Rafimiya Kazi

Chief Executive Officer and Chief Financial Officer

(Principal Executive Officer, Principal Financial

Officer and Principal Accounting Officer)

 

 

v3.23.2
Cover - shares
9 Months Ended
Apr. 30, 2023
Jun. 12, 2023
Cover [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Quarterly Report true  
Document Transition Report false  
Document Period End Date Apr. 30, 2023  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2023  
Current Fiscal Year End Date --07-31  
Entity File Number 000-50693  
Entity Registrant Name Cyber Apps World Inc.  
Entity Central Index Key 0001230524  
Entity Tax Identification Number 90-0314205  
Entity Incorporation, State or Country Code NV  
Entity Address, Address Line One 9436 W. Lake Mead Blvd  
Entity Address, Address Line Two Ste. 5-53  
Entity Address, City or Town Las Vegas  
Entity Address, State or Province NV  
Entity Address, Postal Zip Code 8340  
City Area Code 702  
Local Phone Number 805-0632  
Entity Current Reporting Status Yes  
Entity Interactive Data Current No  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company true  
Elected Not To Use the Extended Transition Period false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   1,272,917
v3.23.2
Consolidated Balance Sheet (Unaudited) - USD ($)
Apr. 30, 2023
Jul. 31, 2022
Current assets:    
Cash $ 3 $ 320
Deposits & prepayments 7,652 7,652
Total current assets 7,655 7,972
Other assets:    
Software development - WIP 475,695 414,753
Total other assets 475,695 414,753
Total Assets 483,350 422,725
Current liabilities:    
Accounts payable and accrued liabilities 90,692 117,770
Total current liabilities 90,692 117,770
Long term liabilities:    
Convertible notes payable 180,686 77,200
Loan payable 11,597 11,597
Total non-current liabilities 192,283 88,797
Total Liabilities 282,975 206,567
STOCKHOLDER’S EQUITY    
Preferred stock: $0.001 par value, 10,000,000 authorized, 300,000 issued and outstanding as of April 30, 2023 and July 31, 2022 300 100
Common stock: $0.001 par value, 250,000,000 authorized, 1,272,917 issued and outstanding as of April 30, 2023 and 889,011,264 as of July 31, 2022, respectively 506,755 444,701
Shares to be issued
Additional paid in capital 10,624,138 10,654,292
Accumulated deficit (10,930,818) (10,882,935)
Total Stockholder’s Equity 200,375 216,158
Total Liabilities and Stockholder's Equity $ 483,350 $ 422,725
v3.23.2
Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares
Apr. 30, 2023
Jul. 31, 2022
Statement of Financial Position [Abstract]    
Preferred Stock, Par Value $ 0.001 $ 0.001
Preferred Stock, Shares Authorized 10,000,000 10,000,000
Preferred Stock, Shares Issued 300,000 300,000
Preferred Stock, Shares Outstanding 300,000 300,000
Common Stock, Par Value $ 0.001 $ 0.001
Common Stock Shares Authorized 250,000,000 250,000,000
Common Stock, Shares Issued 1,272,917 889,011,264
Common Stock, Shares Outstanding 1,272,917 889,011,264
v3.23.2
Consolidated Statement of Comprehensive Income Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Apr. 30, 2023
Apr. 30, 2022
Income Statement [Abstract]        
Gross Income $ 11
Expenses        
General and administrative 29,321 58,805 47,884 174,688
Consolidated loss before interest & taxes 29,321 (58,805) (47,884) (174,677)
Income tax
Consolidated net loss $ 29,321 $ (58,805) $ (47,884) $ (174,677)
Net income per share – basic and diluted $ 0.02 $ (0.00) $ (0.04) $ (0.00)
Weighted average shares outstanding – basic and diluted 1,272,917 530,659,518 1,272,917 530,659,518
v3.23.2
Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)
Common Stock [Member]
Preferred Stock [Member]
Additional Paid-in Capital [Member]
Shares To Be Issued [Member]
Retained Earnings [Member]
Total
Opening Beginning balance, value at Jul. 31, 2021 $ 39,079 $ 10,384,113 $ 23,000 $ (9,388,089) $ 1,058,103
Opening Balance, shares at Jul. 31, 2021 388,986,268          
Cancellation of Shares as of January 31, 2022 $ (14,100) (14,100)
Issuance of Common Stock $ 212,005 287,707 499,712
Issuance of Common Stock, shares 282,673,250.00          
Preferred Stock Issued
Shares to be issued 32,000 32,000
Other 3,465 3,465
Net Loss (174,677) (174,677)
Closing Ending balance, value at Apr. 30, 2022 $ 236,984 10,671,820 55,000 (9,559,301) 1,404,503
Closing Balance, shares at Apr. 30, 2022 530,659,518          
Opening Beginning balance, value at Jul. 31, 2022 $ 444,701 $ 100 10,654,292 (10,882,935) 216,158
Opening Balance, shares at Jul. 31, 2022 807,616,147 100,000        
Issuance of Common Stock $ 62,052 (30,152)   31,900
Issuance of Common Stock, shares 98,045,405          
Preferred Stock Issued 200 200
Net Loss   (47,884) (47,884)
Preferred Stock Issued, shares   200,000        
Cancellation of Common  Shares
Round up Shares 2 (2)
Closing Ending balance, value at Apr. 30, 2023 $ 506,755 $ 300 $ 10,624,138 $ (10,930,818) $ 200,374
Closing Balance, shares at Apr. 30, 2023 1,272,917 300,000        
v3.23.2
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Cash flows from operating activities    
Net income (loss) for the period $ (47,884) $ (174,677)
     Change in operating assets and liabilities    
     Deposits & prepayments 35,000
     Accounts payable and accrued liabilities (27,078) (14,668)
Net cash provided from (used in) operating activities (74,961) (154,345)
Cash flows from investing activities    
     Software development (60,942) (70,866)
Net cash used in investing activities (60,942) (70,866)
Cash flows from financing activities    
     Change in convertible notes payable 103,486 (316,000)
     Change in loan payable (43,482)
     Shares to be issued 32,000
     Proceeds from issuance of preferred shares 200
     Proceeds from issuance of common shares 62,054 197,905
     Proceeds from issuance of additional paid in capital (30,154) 287,707
Net cash provided by financing activities 135,586 158,130
Change in Cash (317) (67,082)
Cash – beginning of period 320 70,182
Cash – end of period 3 3,100
Cash paid For:    
Interest
Income tax
v3.23.2
Summary of Significant Accounting Policies
9 Months Ended
Apr. 30, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies

 

Condensed Interim Financial Statements – The accompanying unaudited interim condensed financial statements include the accounts of Cyber Apps World Inc. (the “Company”) and RTsave Inc., a wholly-owned subsidiary incorporated pursuant to the laws of Wyoming. These financial statements are condensed and, therefore, do not include all disclosures normally required by accounting principles generally accepted in the United States of America. Therefore, these statements should be read in conjunction with the most recent annual financial statements of Cyber Apps World Inc. for the year ended July 31, 2022 included in the Company’s Form 10-K filed with the Securities and Exchange Commission. In particular, the Company’s significant accounting principles were presented as Note 2 to the Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying interim condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying interim condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending July 31, 2022.

 

Going Concern

 

The Company’s financial statements for the nine months ended April 30, 2023 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. The Company did not have any revenue during the nine months ended April 30, 2023. Additionally, for the nine months ended April 30, 2023, the Company reported a net loss of $47,884, operating cash outflows of $74,961, and an accumulated deficit of $10,930,818. Management recognized that the Company’s 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 the Company continues to incur losses.

 

Since its incorporation, the Company has financed its operations through advances from its controlling shareholders, third-party convertible debt, and the sale of its common stock. Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms.

 

The Company’s ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing, and it 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 it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties.

 

The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2022. There were no significant changes to these accounting policies during the nine-month period ended April 30, 2023 and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements

 

v3.23.2
Net Loss Per Common Share
9 Months Ended
Apr. 30, 2023
Earnings Per Share [Abstract]  
Net Loss Per Common Share

Note 2. Net Loss Per Common Share

 

Basic loss per common share is computed based on the weighted average number of shares outstanding during the year. Diluted earnings per common share is computed by dividing net earnings (loss) by the weighted average number of common shares and potential common shares during the specified periods. The Company has no outstanding options or warrants that could affect the calculated number of shares. Common stock equivalents related to convertible debt are detailed in Note 3.

 

 

v3.23.2
Convertible Notes Payable and Notes Payable
9 Months Ended
Apr. 30, 2023
Payables and Accruals [Abstract]  
Convertible Notes Payable and Notes Payable

Note 3. Convertible Notes Payable and Notes Payable

 

As of April 30, 2023, the Company has a balance of convertible notes of $180,686 (July 31, 2022 - $77,200), including interest and accumulated prepayment expense, which is convertible into common stock at deemed prices ranging from 55% to 61% of the lowest market price of the Company’s stock within the prior 20 to 30 trading days prior to conversion. The convertible notes are due and payable on dates within the next 12 months and bear interest at a rate of 10% per annum.

 

v3.23.2
Capital Stock
9 Months Ended
Apr. 30, 2023
Equity [Abstract]  
Capital Stock

Note 4. Capital Stock

 

Effective January 18, 2013, the Company filed with Secretary of State of Nevada a Certificate of Change that affected a 1:50 reverse split in the Company’s outstanding common stock and a reduction of our authorized common stock in the same 1:50 ratio, from 500,000,000 shares to 10,000,000 shares. We have retroactively restated all share amounts to show effects of the Common Stock split.

 

On January 22, 2015, the Company converted $556,267 of its debt to various lenders into convertible debt and 17,550,000 shares of Common Stock were issued as a result of the debt conversion, causing a beneficial conversion in the amount of $370,845.

 

On April 18, 2016, the Company agreed to convert $62,400 of debt into 4,800,000 shares of common stock, which will reduce the debt and notes owed. The Company recorded a loss on settlement of debt of $33,600. The shares were issued on May 31, 2016.

 

On February 1, 2019, the Company filed with the Secretary of State of Nevada a Certificate of Change that affected a 1:45 reverse split, effective February 19, 2019, in the Company’s outstanding common stock and a concurrent increase in the authorized common stock to 50,000,000 shares with par value $0.01.

 

On October 23, 2019, the Company’s filed with the Secretary of State of Nevada a Certificate of Change that affected a 4:1 forward split, effective February 10, 2020, in the Company’s outstanding common stock and a concurrent increase in the authorized common stock to 250,000,000 shares with par value $0.00075.

 

As of October 30, 2021, the Company increased its authorized capital to 5,000,000,000 shares of common stock with par value $0.00075.

 

On September 19, 2022, the Company filed with the Secretary of State of Nevada a Certificate of Change that affected a 840:1 reverse split in the outstanding common stock and a concurrent decrease in the authorized common stock to 250,000,000 shares with par value $0.001.

 

v3.23.2
Related Party Transactions
9 Months Ended
Apr. 30, 2023
Related Party Transactions [Abstract]  
Related Party Transactions

Note 5. Related Party Transactions

 

None

 

v3.23.2
Subsequent Events
9 Months Ended
Apr. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events

Note 6. Subsequent Events

 

On March 9, 2023, the Company canceled 15,379,375 shares of common stock. These shares were issued on December 22, 2022 and February 22, 2023.

v3.23.2
Summary of Significant Accounting Policies (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Jan. 31, 2023
Apr. 30, 2023
Apr. 30, 2022
Jul. 31, 2022
Accounting Policies [Abstract]            
Net loss $ (29,321) $ 58,805   $ 47,884 $ 174,677  
Operating cash outflows     $ 74,961 74,961 $ 154,345  
Accumulated deficit $ 10,930,818     $ 10,930,818   $ 10,882,935
v3.23.2
Convertible Notes Payable and Notes Payable (Details Narrative) - USD ($)
Apr. 30, 2023
Jul. 31, 2022
Payables and Accruals [Abstract]    
Convertible notes payable $ 180,686 $ 77,200
Interest rate 1000.00%  
v3.23.2
Capital Stock (Details Narrative) - USD ($)
1 Months Ended
Feb. 01, 2019
Sep. 19, 2022
Oct. 23, 2019
Apr. 18, 2016
Jan. 22, 2015
Jan. 18, 2013
Apr. 30, 2023
Jul. 31, 2022
Oct. 31, 2021
Equity [Abstract]                  
Reverse split 1:45 840:1       1:50      
Debt conversion original debt value       $ 62,400 $ 556,267        
Debt conversion, number of shares issued       4,800,000 17,550,000        
Debt conversion beneficial amount       $ 33,600 $ 370,845        
Common Stock, Shares Authorized 50,000,000 250,000,000 250,000,000       250,000,000 250,000,000 5,000,000,000
Common Stock, Par Value $ 0.01 $ 0.001 $ 0.00075       $ 0.001 $ 0.001 $ 0.00075
Stock split     4:1            
v3.23.2
Subsequent Events (Details Narrative)
Mar. 09, 2023
shares
Subsequent Events [Abstract]  
Number of shares cancelled during period 15,379,375

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