UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

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

For the Fiscal YearsYear Ended July 31, 2022, and 20212023

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 numbernumber: 000-50693

Cyber Apps World Inc.

(Name of Registrant as Specified in Its Charter)

Nevada

(State or Other Jurisdiction of

Incorporation or Organization)

9436 W. Lake Mead BlvdVia Tomaso Rodari 6, Lugano, Switzerland 6900., Suite 5-53, Las Vegas, Nevada89134

(Address of Principal Executive Offices)

(702)+41 791595013805-0632

(Issuer’sIssuer's Telephone Number, Including Area Code)

Securities registered underpursuant to Section 12(b) of the Exchange Act:

None

Securities registered underpursuant to Section 12(g) of the Exchange Act:

Common Stock, Parpar value $0.00075 per share$0.001

(Title of class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☐ Yes      ☒ No

Indicate by checkmarkcheck mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) Of the Act. ☐ Yes      ☒ No

Indicate by check mark whether the issuer: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

If an emerging growth company,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 has filed a report on and attestation to its management’smanagement's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

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

The aggregate market value of voting and non-voting common equity held by non-affiliates as of January 31, 2023 was $4,212,132$78,794 based on the closing price of the issuer’sissuer's common stock on January 31, 2022,2023, the last business day of the registrant’sregistrant's most recently completed second fiscal quarter.

890,070,9271,272,917 shares of common stock are issued and outstanding as of October 3, 2022the date of this report.

Cyber Apps World Inc.

Annual Report on Form 10-K for the Year ended July 31, 2023

Table of Contents

PART I

NOTE REGARDING FORWARD LOOKING STATEMENTS

CAUTIONARY STATEMENT FOR PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This Annual Report contains historical information as well as forward-looking statements. Statements looking forward in time are includedAs used in this Annual Report on Form 10-K (this “Report”), and unless otherwise indicated, the terms “the Company,” “CYAP,” “we,” “us” and “our” refer to Cyber Apps World Inc.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Annual Report on Form 10-K (this “Report”) for the Company, contains forward-looking statements, including, without limitation, in the sections captioned “Item 1. Business” and “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,” as well as elsewhere in this Report. Any and all statements contained in this Report that are not statements of historical fact may be deemed forward-looking statements. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future” and terms of similar import (including the negative of any of the foregoing) may be intended to identify forward-looking statements. Not all forward-looking statements, however, may contain one or more of these identifying terms. Forward-looking statements in this Report may include, without limitation, statements regarding (i) the plans and objectives of management for future operations; (ii) a projection of income, earnings per share, capital expenditures, dividends, capital structure or other financial items; (iii) the Company's future financial performance, including any such statement contained in a discussion and analysis of financial condition by management or in the results of operations included pursuant to the safe harbor provisionsrules and regulations of the Private Securities Litigation Reform Actand Exchange Commission (the “SEC”); and (iv) the assumptions underlying or relating thereto.

The forward-looking statements are neither historical facts nor assurances of 1995. Suchfuture performance and are not meant to predict or guarantee actual results, performance, events, or circumstances. Instead, they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions. Because forward-looking statements involve known and unknownrelate to the future, they are subject to inherent uncertainties, risks and uncertaintieschanges in circumstances that may cause our actualare difficult to predict and many of which are outside of the Company's control. Actual results, in future periods to be materially different from any future performance suggested herein. We wish to caution readers that in addition to the important factors described elsewhere in this Form 10-K, the following forward looking statements, among others, sometimes have affected,timing of certain events and in the future could affect, our actual resultscircumstances, and could cause our actual results during 2022 and beyond, tofinancial condition may differ materially from those expressedindicated by the forward-looking statements as a result of these risks and uncertainties. Readers are cautioned not to place undue reliance on forward- looking statements because of the risks and uncertainties related to them. Any forward-looking statement made by the Company in this Report is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statementsstatement, whether written or oral, that may be made byfrom time to time, whether as a result of new information, future developments or on our behalf.otherwise.

PART I

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-ownedwholly 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.

Recent Developments

On July 6, 2023, JanBella Group, LLC (“JanBella Group”), a family office, acquired 100,000 outstanding shares of Super A Voting Preferred Stock (the “Series A Preferred Shares”) in satisfaction of a promissory note made by the Company in favor of JanBella Group. The Series A Preferred Shares had been pledged to secure a note made by the Company to JanBella. Thereupon, Mohammed Irfan Raimiya Kazi, the Company's Chief Executive Officer and a director and Kateryna Malenko, the Company’s Secretary and a director, resigned as officers and directors of the Company and William Alessi, an affiliate of JanBella Group, was appointed the sole officer and director of the Company. The Series A Preferred Shares entitle the holder thereof to 99.97% of the voting power of the Company.

On August 23, 2023, JanBella Group sold the Series A Preferred Shares to Zenith Energy Ltd. (“Zenith Energy”). Zenith Energy is a British Columbia corporation based in Vancouver, B.C., engaged in energy production projects on three continents, whose shares are traded on the London Stock Exchange and Euronext Oslo.

In the change in control transaction, Zenith Energy acquired the 100,000 Series A Preferred Shares, representing 99.87% of the voting power of the Company, from JanBella for consideration of approximately $398,400. As part of the transaction, William Alessi, the sole officer and director of the Company, appointed Luca Benedetto, Ippolito Cattaneo, and Dario Sodero as directors of the Company (with Messrs. Cattaneo's and Sodero's appointment subject to compliance by CYAP with Rule 14f-l under the Securities Exchange Act of 1934). Thereafter, Mr. Alessi resigned as CYAP's sole director and officer.

In addition to the foregoing, Mr. Benedetto was appointed President and Treasurer of the Company and Mr. Cattaneo was appointed as the Company's Secretary.

In addition to continuing with its present business, the Company is exploring potential expansion into other business sectors, particularly the acquisition of energy production and development opportunities in the U.S. Zenith Energy has advised us that intends to invest in the Company in order to enable it to accomplish future expansion.

Privacy and Value Software

On March 15, 2021,2022, we entered into an agreement to acquire employee monitoring software known as “Privacy and Value”.Value.” We amended this agreement on April 20, 20212022, and September 28, 2022. 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 to 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:

InThe agreement with the vendor provided that in consideration of the vendor selling the Privacy and Value software to us, we have agreed to:CYAP would:

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’sFast's focus will strictly be delivery of goods.

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 companyCompany to be primarily responsible for the completion of the application development.

Financial Condition

Our financial statements for the periodyear ended July 31, 2022, and 20212023, 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 significant revenue as of July 31, 2022.2023. 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’sManagement'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

Competition

Friendly and Fast Application

There is intense competition between traditional taxi and courier companies, and delivery service companies. 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 delivery service 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 delivery service companies, including Uber Eats, Skip The Dishes, 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 are 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.

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 previously held our interest in the SmartSaveNow website.

Item 1A.lA. Risk Factors.

Not applicable.As a smaller reporting Company, we are not required to provide this Item.

Item 1B.lB. Unresolved Staff Comments.

None.

Item 2. Properties.

We do not own any interest in real property. Our mailing address is 9436 W. Lake Mead Blvd., Ste. 5-53, Las Vegas NV 89134, for which we pay $15.00 per month, on a month-to-month basis.

Item 3. Legal Proceedings.

None  We have no knowledge of any material, active or pending proceeding against us or our subsidiaries, nor are we, or any subsidiary, involved as a plaintiff or defendant in any material proceeding or pending litigation.

Item 4. Mine Safety Disclosures.

None.

PART II

None.

PART II

Item 5. Market for Registrant’sRegistrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Our shares of common stock tradeMarket Information

The Common Stock is currently quoted on the OTC Pink marketplace of OTC Markets Pink SheetsGroup, Inc., an inter-dealer quotation system, under the symbol “CYAP”. Over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions. The"CYAP." However, there is currently only a limited trading market for our common stock maybe illiquidthe Common Stock and investors may not be able to sell their shares.there is no assurance that a regular trading market will ever develop.

Holders

As of September •, 2022,the date of this Report there were approximately 47 registered owners36 holders of record of our common stock. During our previous eight fiscal quarters,Common Stock, based on information provided by the high and low trading prices as reported by Yahoo Finance were as follows:

HoldersCompany's transfer agent. The holders of common stockCommon Stock are entitled to receive such dividends as may be declared byone vote for each share held of record on all matters submitted to a vote of stockholders. Holders of Common Stock have no preemptive rights and no right to convert their Common Stock into any other securities. There are no redemption or sinking fund provisions applicable to the Board of Directors out of funds legally available therefore and, in the event of liquidation, to share pro rata in any distribution of our assets after payment of liabilities. The Board of Directors is not obligated to declare a dividend. We have not paid any dividends and we do not have any current plans to pay any dividends.Common Stock.

Securities Authorized for Issuance underUnder Equity Compensation Plans

As of the end of the most recently completed fiscal years, July 31, 2023 and July 31, 2022, the Company did not have any equity compensation plans and have not maintained any such plans since our inception.

None.

Item 6. Selected Financial Data.[Reserved].

Not applicable.

Item 7. Management’sManagement's Discussion and Analysis of our Financial Conditions and Results of Operations.

Introduction The following discussion should be read in conjunction with our financial statements and notes to those financial statements, included elsewhere in this prospectus. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking statements as a result of various factors, including those set forth under "Risk factors" and elsewhere in this prospectus.

We were incorporatedForward Looking Statements

Certain statements made in this Report may constitute “forward-looking statements on July 15, 2002, underour current expectations and projections about future events.” These forward-looking statements involve known or unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the lawsforward-looking statements. In some cases you can identify forward-looking statements by some words such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates” and similar expressions. These statements are based on our current beliefs, expectations, and assumptions and are subject to a number of risks and uncertainties. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. These forward-looking statements are made as of the Statedate of Nevada.this Report, and we assume no obligation to update these forward-looking statements whether as a result of new information, future events, or otherwise, other than as required by law. In light of these assumptions, risks, and uncertainties, the forward-looking events discussed in this Report might not occur and actual results and events may vary significantly from those discussed in the forward-looking statements.

Results of Operations – Year Ended July 31, 2022, and 2021

We have notThe Company earned any significant revenue from our operationsincome of $2,762 during the year-ended July 31, 2022, and 2021. During thefiscal year ended July 31, 2022, we incurred net2023, compared to losses of $1,498,311 consisting entirely of general and administrative fees. The increase in general and administrative fees$(1,498,322) incurred during the year-endedfiscal year ended July 30,2022 primarily from a $1,350,000 impairment loss on our goodwill and software development balance and from increased business activity relating to software development31, 2022.

We have not attained profitable operations and are dependent upon obtaining financing to complete our proposed business plan. For these reasons our auditors believe that there is substantial doubt that we will be able to continue as a going concern.

Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

LIQUIDITY AND CAPITAL RESOURCESRevenue

We have not earned any significant revenue from our operations for the fiscal years ended July 31, 2023, and July 31, 2022.

Operating Expenses

The Company has incurred operating expenses of $74,029 during Year Ended July 31, 2023 compared to expenses of $1,498,322 incurred during Year Ended July 31, 2022. The majority of the expenses consisted of general and administrative expenses.

Liquidity and Capital Resources

As of July 31, 2022,2023, our current assets consisted of $7,972$3 in cash and deposits and our total liabilities were $206,567$237,878 which consisted of convertible notes payable of $77,200,$180,686, loans payable of $11,597, and accounts payable and accrued expenses of $117,770.$45,595.

We currently have no external sources of liquidity such as arrangements with credit institutions or off-balance sheet arrangements that will have or are reasonably likely to have a current or future effect on our financial condition or immediate access to capital.

Our financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) which contemplates our continuation as a going concern. We have not yet generated any revenue and have incurred losses to date of approximately $(10,880,173). In addition, our current liabilities exceed our current assets by $45,592. These factors raise substantial doubt about our ability to continue operating as a going concern. Our ability to continue our operations as a going concern, realize the carrying value of our assets, and discharge our liabilities in the normal course of business is dependent upon our ability to raise capital sufficient to fund our commitments and ongoing losses, and ultimately generate profitable operations.

Zenith Energy has advised us that it intends to invest in the Company in order to enable it to accomplish future expansion, although we have no definitive agreement in that regard.

Cash Flows from

Operating Activities

We have not generated positive cash flows from operating activities. For the fiscal year ended July 31, 2022,2023, net cash flowsoutflows used in operating activities were $215,865$61,761 consisting of our net lossprofit for the period of $1,498,311, adjusted for impairment loss incurred in the period of $1,350,000,$2,762 and accounts payable of $102,554 and deposits of $35,000.$64,523.

Cash Flows from FinancingInvesting Activities

We have financed our operations primarily from either third-party or the issuance of equity and debt instruments. For the fiscal year ended July 31, 2022, net cash from financing activities was $216,869, which consisted of proceeds from issuance of additional shares of our common and preferred stock, offset by convertible notes payable of $392,550 and loans payable of $43,482, which were converted into our shares pursuant to the terms of convertible promissory notes.

Cash Flows from Investing Activities

For the fiscal year ended July 31, 2022,2023, we spent $70,866$73,942 of our cash for software development.

We have not attained profitable operations and are dependent upon obtaining financing to pursue exploration activities. For these reasons, there is substantial doubt that we will be able to continue as a going concern

Since our incorporation, we have financed our operations through advances from our shareholders, and by payments made by a third party. We expect to finance operations through the sale of equity or other investments for the foreseeable future, as we do not receive significant revenue from our 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 our 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.

Our auditors are of the opinion that our continuation as a going concern is in doubt. Our continuation as a going concern is dependent upon continued financial support from our shareholders and other related parties.

Financing Activities

We have financed our operations primarily from either third-parties or the issuance of equity and debt instruments. For the fiscal year ended July 31, 2023, net cash from financing activities was $135,386, which consisted of proceeds from issuance of additional shares of our common and preferred stock of $31,900, and issue of convertible notes payable of $103,486, which were converted into our shares pursuant to the terms of convertible promissory notes.

Critical Accounting Policies

Our discussion and analysis of its financial condition and results of operations are based upon our financial statements whichand accompanying notes have been prepared in accordance with United States generally accepted accounting principles generally accepted("GAAP") applied on a consistent basis. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the United Statesreported amounts of America.

Off-Balance Sheet Arrangements

Asassets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

The financial statements have been prepared in conformity GAAP, which contemplates our continuation as a going concern. The Company has no revenue since January 1, 2020, and has incurred losses to date of approximately $(10,880,173). In addition, the Company's current liabilities exceed its current assets by $45,592. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including term notes until such time that funds provided by operations are sufficient to fund working capital requirements. These factors raise substantial doubt about the Company's ability to continue operating as a going concern. The Company's ability to continue our operations as a going concern, realize the carrying value of our assets, and discharge our liabilities in the normal course of business is dependent upon our ability to raise capital sufficient to fund its commitments and ongoing losses, and ultimately generate profitable operations.

Contractual Obligations

We are a smaller reporting Company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information under this annual report,item.

Off-Balance Sheet Arrangements

Under SEC regulations, we do not have anyare required to disclose off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, such as changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. An off-balance sheet arrangement means a transaction, agreement or contractual arrangement to which any entity that is not consolidated with us is a party, under which we have:

UseWe do not have any off-balance sheet arrangements that we are required to disclose pursuant to these regulations. In the ordinary course of Estimates

The preparation ofbusiness, we enter into operating lease commitments, purchase commitments and other contractual obligations. These transactions are recognized in our financial statements in accordance with generally accepted accounting principles generally accepted in the United StatesStates.

Revenue Recognition

The Company recognizes revenue when control of America requires uspromised goods or services is transferred to make estimates and judgmentsthe Company's customers, in an amount that affectreflects the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates and judgments, including those related to revenue recognition, inventories, adequacy of allowances for doubtful accounts, valuation of long-lived assets and goodwill, income taxes, litigation and warranties. We base its estimates on historical and anticipated results and trends and on various other assumptions that we believe are reasonable underconsideration the circumstances, including assumptions as to future events. The policies discussed below are considered by managementCompany expects to be criticalentitled to an understandingin exchange for those goods or services.

Prior to the Merger Agreement as of our financial statements. These estimates formDecember 31, 2020, with respect to sales of product to both franchisee and non-franchisee customers, the basis for making judgments aboutCompany transfers control, invoices the carrying values of assetscustomer and liabilitiesrecognizes revenue upon shipment to the customer. Sales prices are based on fixed price lists that are not readily apparentdifferent depending on whether the price list is for franchisee customers or for non-franchisee customers. Sales, value add and other taxes collected concurrent with revenue-producing activities are excluded from other sources. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results may differ from those estimates.revenue.

Property and EquipmentRecent Accounting Pronouncements

Property and equipment are recorded at cost. Depreciation of property and equipment are accounted for by accelerated methods over the following estimated useful lives:

Evaluation of Long-Lived Assets

We review property and equipment for potential impairment whenever significant eventsNo accounting standards that have been issued or changes in circumstances indicate the carrying value may not be recoverable in accordance with the guidance in ASC 360-15-35 “Impairment or Disposal of Long-Lived Assets”. An impairment exists when the carrying amount of the long-lived assets is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If an impairment exists, the resulting write-down would be the difference between the fair market value of the long-lived asset and the related net book value.

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)proposed by the weighted average number of common shares and potential common shares during the specified periods. The Company has no outstanding options, warrantsFASB or other convertible instrumentsstandards-setting bodies that could affect the calculated number of shares.

Income Taxes

Deferred income tax assets or liabilities are computed based on the temporary differences between the financial statement and income tax bases of assets and liabilities using the statutory marginal income tax rate in effect for the years in which the differencesrequire adoption until a future date are expected to reverse. Deferred income tax expenses or credits are basedhave a material impact on the changes in the deferred income tax assets or liabilities from period to period. A valuation allowance against deferred tax assets is required if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The valuation allowance should be sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized.Company's financial statements upon adoption.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Not applicable

Item 8. Financial Statements and Supplementary Data (PCAOB 50909)50909).

CYBER APPS WORLD INC.
FINANCIAL STATEMENTS

July 31, 2023 and July 31, 2022 and 2021

Index to Financial Statements

JACK SHAMA,AHMED & ASSOCIATES CPA MAP.C.

1498 East 32^nd StreetNew Hyde Park, New York, United States Phone: +l 9179970677

Brooklyn, NY 11234

631-318-0351

To the shareholders and the board of directors of Cyber Apps World Inc.

Report of Independent Registered Public Accounting Firm.

Opinion on the financial statements.

I have audited the accompanying balance sheet of Cyber Apps World Inc. and the related statements of income, stockholders equity, cash flows, including the related notes and any related schedules for the years ended July 31, 2023. In my opinion the financial statements present fairly in all material respects the financial position of the Company as of July 31, 2023 and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Going concern matters.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has incurred losses, and has an accumulated deficit which raises substantial doubt about its ability to continue as a going concern. Management's plans concerning these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for opinion.

These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on the financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the US federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. I have conducted my audit in accordance with the standards of the PCAOB. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. My audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe my audit provides a reasonable basis for my opinion.

Critical audit matters.

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved my especially challenging, subjective, or complex judgments. I have determined that there are no critical audit matters to report.

The Company is not required to have, nor was I engaged to perform, an audit of its internal control over financial reporting. As part of my audit, I am required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, I express no such opinion.

/s/ Rizwan Ahmed

Ahmed & Associates, CPA

Rizwan Ahmed, CPA

October 11, 2023

JACK SHAMA, CPA, MA

1498 East 32^nd Street

Brooklyn, NY 11234

631-318-0351

To the shareholders and the board of directors of Cyber Apps World Inc.

Report of Independent Registered Public Accounting Firm.

Opinion on the financial statements.

I have audited the accompanying balance sheet of Cyber Apps World Inc. and the related statements of income, stockholders equity, cash flows, including the related notes and any related schedules for the years ended July 31, 2022 and July 31, 2021. In my opinion the financial statements present fairly in all material respects the financial position of the company as of July 31, 2022 and July 31, 2021 and2021and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Going concern matters.

The accompanying financial statements have been prepared assuming that the company will continue as a going concern. As discussed in Note 2 to the financial statements, the company has incurred losses, and has an accumulated deficit which raises substantial doubt about its ability to continue as a going concern. Management’s plans concerning these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertaintyuncertainty.

Basis for opinion.

These financial statements are the responsibility of the company’s management. My responsibility is to express an opinion on the financial statements based on my audit. I am a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the company in accordance with the US federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. I conducted my audit in accordance with the standards of the PCAOB. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. My audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe my audit provides a reasonable basis for my opinion.

Critical audit matters.

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved my especially challenging, subjective, or complex judgments. I have determined that there are no critical audit matters to report.

The company is not required to have, nor was I engaged to perform, an audit of its internal control over financial reporting. As part of my audit, I am required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control over financial reporting. Accordingly, I express no such opinion.

/s/ Jack Shama

/s/ Jack Shama, CPA

Jack Shama, CPA

October 3, 2022

I have served as the company’s auditor since March 2019.

CYBER APPS WORLD INC.

CONSOLIDATED BALANCE SHEET (AUDITED)

Cyber Apps World, Inc.(

Consolidated Balance Sheets July 31,

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

Cyber Apps World, Inc.

Consolidated Statements of Operations

For the Years Ended July 31,

The accompanying notes are an integral part of these audited consolidated financial statements)statements.

CYBER APPS WORLD INC.

CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS (AUDITED)

(Cyber Apps World Inc.

Consolidated Statements of Stockholders' Equity

July 31, 2023 and 2022

The accompanying notes are an integral part of these audited consolidated financial statements)statements.

Cyber Apps World, Inc.CYBER APPS WORLD INC.

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (AUDITED)Consolidated Statements of Cash Flows

For the years endedYears Ended July 31, 2022 and 2021

(The accompanying notes are an integral part of these audited consolidated financial statements)statements.

CYBER APPS WORLD INC.

CONSOLIDATED STATEMENT OF CASH FLOWS (AUDITED)

(The accompanying notes are an integral part of these audited consolidated financial statements)

CYBER APPS WORLD INC.

NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS

July 31, 2022, and 20212023

Note 1. Financial Statement Presentation

Cyber Apps World Inc. (the “Company”), following the merger with the Company’s wholly-ownedCompany's wholly owned subsidiary on December 24, 2012April 9, 2015, (formed for the sole purpose of merging with its parent), continued working onhas been engaged in the further development of mobile applications focusing on allowing users around the lithium batteries technology licensedworld to save money on products and services from Terra Inventions Corp. (formerly Li-ion Motors Corp.) (“Terra”), the Company’s former parent. Consultants for the Company were also working on the solar concentrating electric power generating system working independently.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.

The summary of significant accounting policies is presented to assist in the understanding of the financial statements. The financial statements and notes are the representations of management. These accounting policies conform to accounting policies generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.

Basis of Presentation

Going Concern

The Company’saccompanying financial statements for the years ended July 31, 2022, and 2021, have been prepared onassuming that the Company will continue as a going concern, basis which contemplates the realization of assets and settlementthe discharge of liabilities and commitments in the normal course of business. The Company did not have significant revenue asbusiness for the foreseeable future.

As reflected in the accompanying financial statements for the year ended July 31, 2023, we incurred net income of $2,762. In addition, we reported cash used in operations of$(61,761) from our operating activities for the year ended July 31, 2023. As of July 31, 2022.2023, we had accumulated deficit of $(10,880,173) and a working capital deficit of $45,593. The Company earned revenue of $2,762 for the year ended July 31, 2023. Management recognized that the Company’s continued existence is dependent upon itsbelieves these factors raise substantial doubt about our ability to obtain needed working capital through additional equity and/or debt financing and revenue to cover expensescontinue as a going concern for the Company continues to incur losses.next twelve months.

Since its incorporation, the Company financed its operations almost exclusively through advances from its controlling shareholders. Management’sManagement'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 new business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms.

The Company’sCompany'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.

These financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of these uncertainties. Management believes that the actions presently being taken to obtain additional funding and implement its strategic plan provides the opportunity for our Company to continue as a going concern.

Note 2. Summary of Significant Accounting Policies

UseBasis of EstimatesPresentation

The preparation ofaccompanying financial statements have been prepared in accordanceconformity with accounting  principles generally accepted in the United States of America requires(“US GAAP”). The Company's functional currency is USD.

Use of Estimates

The preparation of the Companyfinancial statements is in conformity with generally accepted accounting principles in the United States of America, which require management to make estimates and judgmentsassumptions that affect the reported amounts of assets liabilities, revenues and expenses,liabilities and disclosure of contingent assets and liabilities. On an on-going basis,liabilities at the Company evaluates its estimates and judgments, including those related to revenue recognition, inventories, adequacy of allowances for doubtful accounts, valuation of long-lived assets and goodwill, income taxes, litigation and warranties. The Company bases its estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. The policies discussed below are considered by management to be critical to an understandingdate of the Company’s financial statements. Thesestatements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates formusing the basisbest information available at the time the estimates are made. Actual results could differ from those estimates.

Fair Value of Financial Instruments

Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 820 (formerly Statement of Financial Accounting Standard ("SFAS") No. 157 Fair Value Measurements) establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as the following:

The carrying amounts reported in the balance sheets for making judgments aboutcash, accounts receivable, other receivable, accounts payable, other payable, and amounts due from related parties generally approximate their fair market values based on the carrying valuesshort- term maturity of these instruments. ASC 825-10 "Financial Instruments" allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that areinstrument should be reported in earnings at each subsequent reporting date. The Company did not readily apparent from other sources. By their nature, estimates are subjectelect to an inherent degree of uncertainty. Actual results may differ from those estimates.apply the fair value option to any outstanding instruments.

Property and Equipment

Property and equipment are recorded at cost. Depreciation of property and equipment are accounted for by accelerated methods over the following estimated useful lives:lives:

Evaluation of Long-Lived Assets

The Company reviews property and equipment for potential impairment whenever significant events or changes in circumstances indicate the carrying value may not be recoverable in accordance with the guidance in ASC 360-15-35 “Impairment or Disposal of Long-Lived Assets”. An impairment exists when the carrying amount of the long-lived assets is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If an impairment exists, the resulting write-down would be the difference between the fair market value of the long-lived asset and the related net book value. The Company is looking for space to work and store equipment for both battery development and solar dish.

Revenue Recognition

The Company recognizes revenue when control of promised goods or services is transferred to the Company's customers, in accordancean amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

Prior to the Merger Agreement (as defined above), with Accounting Standards Codification No. 605, “Revenue Recognition” (“ASC-605”), ASC-605 requires that four basic criteria must be met beforerespect to sales of product to both franchisee and non-franchisee customers, the Company transfers control, invoices the customer and recognizes revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3)upon shipment to the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4)customer. Sales prices are based on management’s judgments regardingfixed price lists that are different depending on whether the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisionsprice list is for discounts and rebates tofranchisee customers estimated returns and allowances,or for non-franchisee customers. Sales, value add and other adjustmentstaxes collected concurrent with revenue-producing activities are provided for in the same period the related sales are recorded. The Company will defer any revenue for which the product has not been delivered or is subject to refund until such time that the Company and the customer jointly determine that the product has been delivered or no refund will be required. Since August 1, 2021, to July 31, 2022, the Company has generated no significantexcluded from revenue.

Goodwill

Goodwill

Goodwill represents the excess of purchase price paid over the fair value of net identifiable assets (tangible and intangible assets) acquired in business combination transactions. Goodwill is not subject to amortization and is tested for impairment annually or more frequently if events or circumstances indicate that the asset might be impaired. The Company performs a qualitative assessment of its reporting units and certain select quantitative calculations against its current long-range plan to determine whether it is more likely than not (a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. The Company considers persistent and lasting decline in revenue, negative operating cash flows, changes in internal strategic expansion plans, changes in any applicable regulatory environments, among other factors, as part of the qualitative assessment.

The Company first assesses certain qualitative factors to determine whether the existence of events or circumstances leads to determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. After assessing the totality of events or circumstances, the Company determines if it is not more likely than not that the fair value of a reporting unit is less than its carry amount, then performing the two-step impairment test is unnecessary. When necessary, impairment of goodwill is tested at the reporting unit level by comparing the reporting unit’sunit's carrying amount, including goodwill, to the fair value of the reporting unit. The fair value of the reporting unit is estimated using a discounted cash flow approach. If the carrying amount of the reporting unit exceeds its fair value, then a second step is performed to measure the amount of impairment loss, if any, by comparing the fair value of each identifiable asset and liability in the reporting unit to the total fair value of the reporting unit.

For the year ended July 31, 2022,2023, the Company recorded an aggregate impairment loss of $1,350,000$0. (July 31, 20212022 - $Nil)$1,350,000) against its goodwill balance and software development balance. As of July 31, 2022,2023, the Company’sCompany's goodwill balance was $Nil$0 (July 31, 20212022 - $Nil)$0) and a software development balance of $414,753.$488,695 (July 31, 2022 -

$414,753).

Net Loss Per Common

Basic and Diluted Earnings per Share

Basic lossThe Company reports earnings per common share isin accordance with FASB ASC 260 "Earnings per share". The Company's basic earnings per share are computed based onusing the weighted average number of shares outstanding duringfor the year.periods presented. Diluted earnings per common share are computed based on the assumption that any dilutive options or warrants were converted or exercised. Dilution is computed by dividing net earnings (loss) byapplying the weightedtreasury stock method. Under this method, the Company's outstanding stock warrants are assumed to be exercised, and funds thus obtained were assumed to be used to purchase common stock at the average number of common shares and potential common sharesmarket price during the specified periods. The Company hasperiod. There were no dilutive instruments outstanding options, warrants or other convertible instruments that could affect the calculated numberas of shares.July 31, 2023.

Income Taxes

Deferred income tax assets or liabilities are computed based on the temporary differences between the financial statement and income tax bases of assets and liabilities using the statutory marginal income tax rate in effect for the years in which the differences are expected to reverse. Deferred income tax expenses or credits are based on the changes in the deferred income tax assets or liabilities from period to period. A valuation allowance against deferred tax assets is required if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The valuation allowance should be sufficient to reduce the deferred tax asset to the amount that is more likely than not to be realized.

Effects of RecentRecently Issued Accounting Pronouncements

The Company has elected early adoption of Accounting Standard Update (ASU) 2014-10, Topic 915, Development Stage Entities, Elimination of Certain Financial Reporting Requirements. ASU 2014-10 removes all incremental financial reporting requirements for development stage entities, including, but not limited to, inception-to-date financial information included on the statements of operations, statements of stockholders’ equity (deficit) and statements of cash flows. As a result of the Company’s early adoption, all references to the Company as a development stage entityNo accounting standards that have been removed. Theissued or proposed by the FASB or other standards-setting bodies that require adoption of this pronouncement has nountil a future date are expected to have a material impact on the Company’sCompany's financial position, results of operations or liquidity.statements upon adoption.

Note 3. Convertible Notes Payable and Loan Payable

As of July 31, 2022,2023, the Company holds a balance of convertible note payable in the amount of $77,200$180,686 (July 31, 20212022 - $469,750)$77,200), including interest and accumulated prepayment expense, which is convertible into common stock at deemed prices ranging from 60% to 61% of the lowest market price of the Company’sCompany's stock within the prior 20 trading days prior to conversion. The convertible  notes  bear  interest  at  rates ranging  from  10%  per  annum  to 12%12%  per annum compounded monthly.

As of July 31, 2022,2023, the Company has an outstanding loan payable balance of $11,597$1,597 (July 31, 20212022 - $55,079)$11,597). This balance was totally refunded in August 2023.

Note 4. Common Stock

Preferred Stock

In January 2023, the Company issued 200,000 shares of Series A Super Voting Preferred Stock (the “Series A Preferred Shares”) to a certain counterparty. These 200,000 Series A Preferred Shares were cancelled on July 7, 2023.

On June 23, 2022, the Company issued 100,000 Series A Preferred Shares for consideration of $0.001 per share, resulting in total proceeds of $100.

On July 6, 2023, JanBella Group, LLC (“JanBella Group”), a family office, acquired 100,000 outstanding Series A Preferred Shares in satisfaction of a promissory note made by the Company in favor of JanBella Group. The Series A Preferred Shares had been pledged to secure a note made by the Company to JanBella.  The Series A Preferred Shares entitle the holder thereof to 99.97% of the voting power of the Company.

On August 23, 2023, JanBella Group sold the Series A Preferred Shares to Zenith Energy Ltd. (“Zenith Energy”). Zenith Energy. In the change in control transaction, Zenith Energy acquired the 100,000 Series A Preferred Shares, representing 99.87% of the voting power of the Company, from JanBella for consideration of approximately $398,400. The Series A Stock shall have the following preferences, powers, designations and other special rights:

Each Series A Preferred Share entitles the holder to 10,000 votes on all matters submitted to the shareholders of the Company's common stock. The holder of the Series A Preferred Shares votes together with the holders of common stock as a single class upon all matters submitted to a vote of stockholders.                            ·

The holders of Series A Preferred Shares are not be entitled to receive dividends paid on the Company's Common Stock.

Upon liquidation, dissolution and winding up of the Company, whether voluntary or involuntary, the holders of the Series A Preferred Shares then outstanding are not be entitled to receive out of the assets of the Company, whether from capital or earnings available for distribution, any amounts which will be otherwise available to and distributed to the holders of common stock.

Common 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’sCompany'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.

On August 18, 2021, the Company increased its authorized capital to 5,000,000,000 shares of common stock with par value $0.00075.$0.00075.

During the year-ended July 31, 2022, the Company issued 559,629,879 shares of common stock for total proceeds of $689,901.$689,901. The Company also cancelled 141,000,000 shares of common stock for no monetary amount.

On June 23, 2022,During the year-ended July 31, 2023, the Company issued 100,00098,045,405 shares of Series A Super Voting Preferred Stockcommon stock for consideration of $0.001 per share, resulting in total proceeds of $100.$31,900. The Series A StockCompany also cancelled 904,390,639 shares of common stock for no monetary amount.

During the year ended July 30, 2022, the shareholders representing a majority of the Company's issued voting shares, as well as the Company's Board of Directors approved a reverse stock split whereby each 840 pre-split shares of common stock shall have the following preferences, powers, designations and other special rights:

1. Voting.

Eachbe exchanged  for one post-split share of Series A Stock shall entitle the holder to 10,000 votes on all matters submitted to the shareholders of the Company’s common  stock. A holder of the Series A Stock shall vote togetherConcurrently  with the holders of Common Stock as a single class upon all matters submitted to the Common Stock shareholders.

2. Dividends.

The holders of Series A Stock ofreverse  split, the Company shall not be entitledhas approved the decrease in its authorized shares of common stock from 5,000,000,000 shares with par value $0.00075 to receive dividends paid on the Company’s Common Stock.250,000,000 shares with par value $0.001.

3. No Liquidation Preference.

Upon liquidation, dissolution and winding up of the Company, whether voluntary or involuntary, the holders of the Series A Stock then outstanding shall not be entitled to receive out of the assets of the Company, whether from capital or earnings available for distribution, any amounts which will be otherwise available to and distributed to the holder of Common Stock.

Note 5. Income Taxes

As of July 31, 2022,2023, the Company has deferred tax assets as a result of the net operating losses incurred from inception. The resulting deferred tax assets are reduced by a valuation allowance as discussed in Note 1, equal to the deferred tax asset as it is unlikely, based on current circumstances, that the Company will ever realize a tax benefit. Deferred tax assets and the corresponding valuation allowances amounted to approximately $3.3$3.3 million and $1.9$1.9 million as of July 31, 2022,2023, and July 31, 2021,2022, respectively. The statutory tax rate is 21% and the effective tax rate is zero.