UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q

(Mark One)  

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

For the Quarterly Period Ended quarterly period ended April 30, 2016


or2022

 

[ ]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 number: 000-50693


Cyber Apps World Inc.

(NameExact name of Registrantregistrant as Specifiedspecified in Its Charter)its charter)

Nevada
(
90-0314205
State or Other Jurisdiction
other jurisdiction of Incorporation
incorporation
or Organization)
organization
90-0314205
(I.R.S. Employer

Identification No.)


420 N. Nellis Blvd., Suite A3-146, Las Vegas, Nevada

(Address of Principal Executive Offices)


89110
(Zip Code)


(702) 425-4289

(Issuer’s Telephone Number, Including Area Code)

9436 W. Lake Mead Blvd., Ste. 5-53

Las VegasNV89134-8340

(Address of principal executive offices) (Zip Code)

(702) 805-0632

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

Securities registered under Section 12(g) of the Exchange Act:
Common Stock, Par value $0.001 per share
None


Indicate by check mark whether the issuer: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 pastpreceding 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. [X] 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 ☒

 [ ] Yes[ X ]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.

(Check One):

Large See the definitions of “large accelerated filer, [ ] Accelerated filer [ ] Non-accelerated filer [ ] Smaller” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filerAccelerated filer

Non-accelerated filer

Smaller reporting company
Emerging growth company

If an emerging growth company, [X]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.

(Do not check if a smaller reporting company)

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

[ ] Yes [ X ] NoIndicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

On June 14, 2016, there were 24,319,935620,511,261 shares of common stock outstanding.are issued and outstanding as of June 7, 2022.

 

Table of Contents

INDEX
 Page No.
PART I. FINANCIAL INFORMATION 
ITEM 1 - Unaudited Financial StatementsPART I 1FINANCIAL INFORMATION
Balance Sheets
Item 1.Financial Statements (unaudited)2
CONDENSED BALANCE SHEET as of April 30, 2016 (unaudited)2022 and July 31, 2015 1
Statements of Operations for the Three and Nine Months Ended April 30, 2016 and 2015 (Unaudited)20212
Statements of Cash Flows
CONDENSED STATEMENT OF COMPREHENSIVE LOSS for the Nine Months Endedthree months and nine months ended April 30, 20162022 and 2015 (Unaudited)20213
  
Notes to Unaudited Financial Statements4-5
ITEM 2 - Management'sCONDENSED STATEMENT OF STOCKHOLDERS’ EQUITY for the nine months ended April 30, 2022 and 20214

CONDENSED STATEMENTS OF CASH FLOWS for the nine months ended April 30, 2022, and 2021

5
NOTES TO THE UNAUDITED INTERIM FINANCIAL STATEMENTS6
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations6 8
ITEM
Item 3 - Quantitative and Qualitative Disclosures About Market Risk8
ITEM 4 -
Item 4.Controls and Procedures811
PART II. OTHER INFORMATION 9
ITEM 6 – ExhibitsPART IIOTHER INFORMATION
Item 1.Legal Proceedings12
Item 1A.Risk Factors
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds13
Item 3.Defaults Upon Senior Securities.13
Item 4Mine Safety Disclosures13
Item 5.Other Information13
Item 6.Exhibits14
SIGNATURES15

i

 

PART I.I FINANCIAL INFORMATION

ITEM 1. Unaudited Financial Statements

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'sCompany’s Annual Report on Form 10K10-K for the year ended July 31, 2015.2021. 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 and nine months ended April 30, 2016 and 20152022 are not necessarily indicative of the results for the entire fiscal year or for any other period.

1

CYBER APPS WORLD INC.

CONDENSED BALANCE SHEET

As of April 30, 2022 and July 31, 2021

  April 30,  July 31, 
  2022  2021 
  $  $ 

ASSETS

        
         
Current assets:        
Cash  3,100   70,182 
Deposits & prepayments  7,652   42,652 
Total current assets  10,752   112,834 
Fixed assets:        
Software development  -   308,752 
Total fixed assets  -   308,752 
Other assets:        
Goodwill  964,581   964,581 
Software Development - WIP  800,172   420,554 
Total other assets  1,764,753   1,385,135 
Total Assets  1,775,506   1,806,721 
         
LIABILITIES & STOCKHOLDER’S EQUITY        
         
LIABILITIES        
         
Current liabilities:        
Accounts payable and accrued liabilities  205,656   223,789 
Total current liabilities  205,656   223,789 
Long term liabilities:        
Convertible Notes Payable  153,750   469,750 
Loan Payable  11,597   55,079 
Total non-current liabilities  165,347   524,829 
Total Liabilities  371,003   748,618 
         
STOCKHOLDER’S EQUITY        
         
Preferred stock: $0.001 par value, 10,000,000 authorized, 0 issued and outstanding.        
Common stock: $0.00075 par value, 5,000,000,000 authorized, 530,659,518 issued and outstanding as of April 30, 2022 and 388,986,268 issued and outstanding as of July 31, 2021, respectively  236,984   39,079 
Shares to be issued  55,000   23,000 
Additional paid in capital  10,671,820   10,384,113 
Accumulated deficit  (9,559,301)  (9,388,089)
Total Stockholder’s Equity  1,404,503   1,058,103 
Total Liabilities and Stockholder’s Equity  1,775,506   1,806,721 

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

2

CYBER APPS WORLD INC.

CONDENSED STATEMENT OF COMPREHENSIVE LOSS

                 
  For the Three Months Ended April  For the Nine Months Ended April 
  2022  2021  2022  2021 
  $  $  $  $ 
Net Sales                
           11   - 
Cost of Goods Sold                
       -   -   - 
Gross Income  -   -   11   - 
                 
Expenses                
General and administrative  58,805   87,449   174,688   249,747 
Consolidated loss before interest & taxes  (58,805)  (87,449)  (174,677)  (249,747)
Income tax  -   -   -   - 
Consolidated net loss  (58,805)  (87,449)  (174,677)  (249,747)
                 
Net income per share – basic and diluted  -   -   -   - 
                 
Weighted average shares outstanding – basic and diluted  530,659,518   241,093,483   530,659,518   241,093,483 

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


CYBER APPS WORLD INC.

CONDENSED STATEMENT OF STOCKHOLDERS’ EQUITY

For the nine months ended April 30, 2022 and 2021

                         
  Common Stock  Additional Paid in  Shares  Accumulated    
  Number  Par Value Capital  to be issued  Deficit  Total 
  $  $  $  $       
Opening Balance as of July 31, 2020  24,319,949   24,320   9,772,742   -   (8,827,442)  969,619 
Common stock issued for cash  147,472,685   10,000   122,264   -   -   132,264 
Other  -   -   -   -   (35,478)  (35,478)
Net Loss  -   -   -   -   (249,747)  (249,747)
Closing Balance as of April 30, 2021  171,792,634   34,320   9,895,006   -    (9,112,667)  816,659 
                         
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, January 31, 2022  282,673,250   212,005   287,707   -   -   499,712 
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 

 

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

4

 

Cyber Apps World, Inc.
(formerly Clean Enviro Tech Corp.)
Balance Sheets
     
  April 30, July 31,
  2016 2015
 (unaudited)  
Assets    
     
Current assets:        
Deposits $10,000  $10,000 
         
Total current assets  10,000   10,000 
         
Web development costs, net  3,000   —   
         
Total assets $13,000  $10,000 
         
Liabilities and Stockholders' Deficiency        
         
Current liabilities:        
         
Accounts payable and accrued expenses $121,163  $112,637 
Convertible notes payable  29,767   29,767 
Notes payable  41,278   68,112 
         
Total current liabilities  192,208   210,516 
         
Commitments and contingencies        
         
Stockholders' deficiency:        
         
Preferred stock, $.001 par value, 10,000,000 shares authorized, 0 issued and outstanding  —     —   
Common stock, $.001 par value, 50,000,000 shares authorized as of July 31, 2015;        
24,319,935 and 19,519,935 issued and outstanding at April 30, 2016 and July 31, 2015        
respectively.  24,320   19,520 
         
Additional paid-in capital  8,347,541   8,256,341 
Retained deficit  (8,551,069)  (8,476,377)
         
Stockholders' deficiency  (179,208)  (200,516)
         
Total liabilities and stockholders' deficiency $13,000  $10,000 
         

CYBER APPS WORLD INC.

CONDENSED STATEMENT OF CASH FLOWS

For the nine months ended April 30, 2022

         
  For the Nine Months 
  Ended April 30 
  2022  2021 
  $  $ 
Cash flows from operating activities        
Net income (loss) for the period  (174,677)  (249,747)
Change in operating assets and liabilities        
Deposits & prepayments  35,000   (9,668)
Accounts payable and accrued liabilities  (14,668)  (20,242)
Due to related party  -   10,000 
Net cash used in operating activities  (154,345)  (269,656)
         
Cash flows from investing activities        
Software development  (70,866)  194,763 
Net cash used in investing activities  (70,866)  194,763 
         
Cash flows from financing activities        
Change in convertible notes payable  (316,000)  - 
Change in loan payable  (43,482)  (21,705)
Shares to be issued  32,000   - 
Proceeds from issuance of common shares  197,905   10,000 
Proceeds from issuance of additional paid in capital  287,707   122,264 
Net cash provided by financing activities  158,130   110,559 
         
Change in Cash  (67,082)  35,666 
         
Cash – beginning of period  70,182   115 
         
Cash – end of period  3,100   35,781 
         
Supplemental cash flow disclosures        
         
Cash paid For:        
Interest  -   - 
Income tax  -   - 

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

 

See accompanying notes to unaudited financial statements

Table of Contents

5

1

Cyber Apps World, Inc.
(formerly Clean Enviro Tech Corp.)
Statements of Operations
(unaudited)
         
     
  For the Three Months Ended For the Nine Months Ended
  April 30, April 30,
  2016 2015 2016 2015
Net sales $—    $—    $—    $—   
                 
Operating expenses:                
 General and administrative  6,806   19,389   41,092   52,531 
                 
Loss from operations  (6,806)  (19,389)  (41,092)  (52,531)
                 
Other (expenses)/income                
Loss on settlement of debt  (33,600)  —     (33,600)  —   
Amortization of beneficial conversion feature  —     —     —     (370,845)
                 
Net loss before provision for (benefit from) income taxes  (40,406)  (19,389)  (74,692)  (423,376)
                 
   —     —     —     —   
Provision for (benefit from) income taxes                
Net loss $(40,406) $(19,389) $(74,692) $(423,376)
                 
                 
Net loss per common share - basic and diluted $(0.00) $(0.00) $(0.00) $(0.05)
                 
Weighted average number of common shares outstanding – basic and diluted  20,416,638   19,517,764   19,816,662   8,332,050 
                 
                 
See accompanying notes to unaudited financial statements
Table of Contents

2

 

Cyber Apps World, Inc.
(formerly Clean Enviro Tech Corp.)
Statements of Cash Flows
(unaudited)
       
       
    For the Nine Months Ended
    April 30,
    2016 2015
CASH FLOWS FROM OPERATING ACTIVITIES:   
 Net loss $           (74,692)  $         (423,376)
 Adjustments to reconcile net loss to net cash utilized by operating activities   
  Depreciation                         -                      967
  Amortization of beneficial conversion feature                         -               370,845
  Expenses paid on the Company's behalf by a third party               35,566                 49,513
  Loss on settlement of debt                33,600                 -
 Increase (decrease) in cash flows from changes in operating assets and liabilities   
   Prepaid expenses and other current assets                         -                         (750)
   Accounts payable and accrued expenses                  8,526                      2,801
 Net cash provided by (used in) operating activities                  3,000               -
       
CASH FLOWS FROM INVESTING ACTIVITIES:   
  Web development costs                (3,000)                          -
 Net cash used in investing activities                (3,000)                          -
       
CASH FLOWS FROM FINANCING ACTIVITIES:   
 Net cash provided by financing activities                         -                          -
       
CHANGE IN CASH AND CASH EQUIVALENTS   
 Net decrease in cash and cash equivalents                         - -
 Cash and cash equivalents at beginning of year                         -                          -
       
 Cash and cash equivalents at end of year $                      -  $                      -
       
SUPPLEMENTAL CASH FLOW DISCLOSURES   
 Cash paid during the year for:   
  Interest $                      -  $                      -
  Income taxes $                      -  $                      -
       
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES   
 Convertible notes issued for debt and liabilities $                      -  $           556,267
 Common shares issued for convertible debt $                      -  $           468,000
 Common shares issued for convertible debt – related party $                      -  $             58,500
 Beneficial conversion feature discount $                      -  $           370,845
 Common shares issued for settlement of debt $            62,400  $                      -
       
       
See accompanying notes to unaudited financial statements
Table of Contents

3

Cyber Apps World Inc. 

CYBER APPS WORLD, INC.

NOTES TO UNAUDITEDCONDENSED INTERIM FINANCIAL STATEMENTS

As ofFor the three and for the Three and Nine Months Endednine months ended April 30, 20162022

(unaudited)

(unaudited)

Note 1. Summary of Significant Accounting Policies

Condensed Interim Financial StatementsThe accompanying unaudited 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, 20152021 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 condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending July 31, 2016.2021.

Going Concern -

The Company’s financial statements for the period ended April 30, 2016,2022 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 anyhad immaterial revenue and as of April 30, 2016, there was2022. Additionally, for the three-month period ended April 30, 2022, the Company reported a working capitalnet loss of $58,805, operating cash outflows of $154,345 and an accumulated deficit of $182,208.$9,559,301 as of April 30, 2022. 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 almost exclusively through advances from its controlling shareholders. The Company expectsshareholders, 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'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.

The Company’s significant accounting policies are summarized in Note 12 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2015.2021. There were no significant changes to these accounting policies during the nine months ended April 30, 20162022 and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements.statements

Website Development Costs -The Company capitalizes its costs to develop its website and when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the website will be used as intended. Such costs are amortized on a straight-line basis over the estimated useful life of the related asset, which approximates three years. Costs incurred prior to meeting these criteria, together with costs incurred for training and maintenance, are expensed as incurred. Costs incurred for enhancements that are expected to result in additional material functionality are capitalized and expensed over the estimated useful life of the upgrades. The Company is still developing its website and plans to launch the website in late June2016 and will commence amortization once the website is placed in service.

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4

The Company capitalized website costs of $3,000 and $-0- during the nine months ended April 30, 2016 and 2015, respectively. Amortization expenses of $-0- and $-0- during the nine months ended April 30, 2016 and 2015, respectively.

Note 2. Deposit

On May 28, 2015, the Company entered into a license agreement (the “Agreement”) with eCommerce Technologies Inc. (“Licensor”), providing for the license by the Company of certain patented ecommerce technology (the “Licensed Technology”), under a non-exclusive right and license to market, use or sell the Licensed Technology and improvements thereto worldwide for a period of five years, subject to the patent coverage of the Licensed Technology. On November 15, 2015, the parties agreed to extend the due date from November 15, 2015 to February 15, 2016. On February 15, 2016, the parties agreed to extend the due date to June 30, 2016.

As of July 31, 2015, the Company has made a deposit of $10,000 with a remaining balance due on June 30, 2016, totaling $490,000. Through the date of this filing, the balance remains outstanding.

Note 3. Website

During the nine months ended April 30, 2016, the Company had $3,000 in website development costs related to the licensed technology. The Company is still developing the website and has not placed it in service. Amortization will commence once the website is placed in service over a three year useful life.

Note 4. Common Stock

On April 18, 2016, the Company agreed to issue 4,800,000 shares of common stock for the settlement of debt of $62,400. The shares were issued on May 31, 2016.

Note 5. 2. Net Loss Per Common Share

LossBasic loss per common share is computed based on the weighted average number of shares outstanding during the year. Diluted lossearnings per common share is computed by dividing net lossearnings (loss) by the weighted average number of common shares and potential common shares during the specified periods. The Company has no outstanding options warrants or other convertible instrumentswarrants that could affect the calculated number of shares, except for $29,767shares. Common stock equivalents related to convertible debt are detailed in Note 3.

6

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of debtthree months or less when purchased to be cash equivalents. The Company maintains cash and cash equivalent balances at one financial institution that is convertible into common stock at approx. $0.02 per share. If allinsured by the FDIC. As of April 30, 2022, the debt is converted with common share equivalents would be 1,488,350.Company had $3,100 (July 31, 2021 - $70,182) in cash.

Note 6. 3. Convertible Notes Payable and Notes Payable

As of April 30, 2016,2022, the Company has a balance of convertible notes is $29,767of $153,750 (July 31, 2021 - $469,750), including interest and accumulated prepayment expense, which is convertible into common stock at approx. $0.02deemed prices ranging from 60% to 61% of the lowest market price of the Company’s stock within the prior 20 trading days prior to conversion. The convertible notes bear interest at a rate of 10% per share. Ifannum.

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 is converted it would be 1,488,350. The debt is due upon demand and bears 0% interest.conversion, causing a beneficial conversion in the amount of $370,845.

As of April 30, 2016, the Company has several notes payable totaling $41,278 which is due upon demand and bears 0% interest.

On April 18, 2016, the Company agreed to convert $62,400$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.$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.

During the nine months ended April 30, 2022, the Company transferred 141,000,000 shares of common stock in the capital of its subsidiary, WarpSpeed Taxi Inc., with a par value of $14,100 related to a previous business combination.

During the nine months ended April 30, 2022, the Company issued 282,673,250 shares of common stock from conversion from some of the Company’s convertible notes.

Note 5. Related Party Transactions

None

Note 6. Subsequent Events

None.

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7

5

ITEM 2. Management'sManagement’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.

IntroductionBackground

We were incorporated on July 15, 2002 under the laws of the State of Nevada. We changed ourNevada under the name Titan Web Solutions, Inc. with a view to offering a full range of business consulting services in 2008, entering into a license agreement with Li-ion Motors onthe retail specialty coffee industry in China.

On April 15, 2008, for the license of the development of their lithium battery technology.  We sold our Zingo Telecom, Inc. and M/S Zingo BPO Services Pvt. Ltd. subsidiaries that offered telecommunications services to business and residential customers utilizing VoIP technology on May 15, 2008.  To reflect our new business, we changed our name from Zingo, Inc. to Superlattice Power, Inc. on April 25, 2008 and on April 2, 2011,9, 2015 we merged with our wholly-owned subsidiary Sky Power Solutions Corp.,Cyber Apps World Inc. and in the merger the name of the Company wasconcurrently changed to Sky Power Solutions Corp.  

A three-for-one forward split in our common stock was effective October 19, 2009. The Certificate of Change filed with the Nevada Secretary of State on September 18, 2009, for the forward split changed the number of shares of our outstanding common stock from 115,000,000 to 345,000,000, and the number of shares of our authorized common stock in the same ratio, from 250,000,000 to 750,000,000.  On April 2, 2011, the Board approved the filing with the Secretary of State of Nevada a Certificate of Change that affected a 1:300 reverse split in our outstanding common stock and a reduction of our authorized common stock in the same 1:300 ratio, from 750,000,000 shares to 2,500,000 shares.  This was effective April 26, 2011.

On December 19, 2012, our Board of Directors authorized the merger with our wholly-owned subsidiary, Clean Enviro Tech Corp. and also approved the filing with the Secretary of State of Nevada a Certificate of Change that effected a 1:50 reverse split in our 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. In the merger the name of our company was changed from Sky Power Solutions Corp. to Clean Enviro Tech Corp. The change of the Company’s name to Clean Enviro Tech Corp. andCyber Apps World Inc. Our business focused on the 1:50 reverse split with the concurrent reductiondevelopment of our authorized common stock in the same ratio were approved by FINRA and effective for trading purposes on January 19, 2013.

In May 2014, the Company entered into a letter of intent with Red Apple Pharm. They had sixty days to provide their financial records and completion of due diligence. Gordon F. Lee was appointed as CEO on May 30, 2014. The Company didn’t receive financials. On June 20, 2014 Mr. Lee resigned.

On May 28, 2015, the Company entered into a license agreement (the “Agreement”) with eCommerce Technologies Inc. (“Licensor”), providing for the license by the Company of certain patented ecommerce technology (the “Licensed Technology”), under a non-exclusive right and license to market, use or sell the Licensed Technology and improvements thereto worldwide for a period of five years, subject to the patent coverage of the Licensed Technology. As of July 31, 2015, the Company has made a deposit of $10,000 with a remaining balance due on February 15, 2016, totaling $490,000. On February 15, 2016, the Company and eCommerce Technologies Inc. agreed to extend the due date from February 15, 2016 to June 30, 2016 for the balance due of $490,000.

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Results of Operations for the Three and Nine months Ended April 30, 2016 and 2015

We incurred a net loss of $40,406 during the three months ended April 30, 2016, which included: general and administrative (G&A) costs of $6,806 and loss on settlement of debt of $33,600 compared to a net loss of $19,368 for the three months ended April 30, 2015, which included: general and administrative (G&A) costs of $19,389.

We incurred a net loss of $74,692 during the nine months ended April 30, 2016, which included: general and administrative (G&A) costs of $41,092 and loss on settlement of debt of $33,600 compared to a net loss of $423,376 for the nine months ended April 30, 2015, which included: general and administrative (G&A) costs of $52,531 and interest expense related to beneficial conversion feature of $370,845.

Our net loss for the nine months ended April 30, 2016 decreased to $74,692 from $423,376 for the same period ending April 30, 2015. The decrease was primarily due to a decrease in interest expense related to beneficial conversion feature of $370,845. The general and administrative expenses decreased to $41,092 from $52,531 due to normal fluctuations in business operations. There was a loss on settlement of debt during the nine months ended April 30, 2016 of $33,600.

Plan of Operations

We are developing mobile applications (“Apps”) to make available to subscribers for several programs. The first beta app to be released will be the “INSTANT COUPONS” platform.

The INSTANT COUPONS app will be a subscriber-based applicationfocusing 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. No coupon printing

We completed the acquisition of a website originally located at www.savinstultra.com and now to be located at www.smartsavenow.com (the “Website”), including, without limitation, the website domain, content, data, and all incorporated technology on April 19, 2019. We acquired a 100% undivided interest in and to the Website in consideration of us issuing 11,500,000 shares of our common stock to the vendor at closing.

The Website consists of a search engine that users access in order to compare the prices of different consumer products, which is requiredknown as a price comparison website. The initial version of the website is published and is undergoing further development. It currently features consumer items in various product categories, such as electronics, computers, cellular phones, office equipment, clothing, books, toys, and jewelry. As well, the Website includes a search function that allows users to input key words and receive a list of available consumer items that include those words. The Website was developed in Ukraine and India.

We intend to further develop the Website to specifically market to American consumers by providing real-time pricing for items that major U.S. retailers, including Wal-Mart, Best Buy, EBay, and Target, publish on their company websites. The Website will show products available at the lowest price among all sellers and incorporate this automatically into its digital marketing advertising. In order to access the content of the Website, consumers must register and establish an account with us and provide us with contact information, including a name, email address, and telephone number. Account holders who consent to the receipt of electronic correspondence from mobile devices.us will receive periodic emails from us that highlight sales items for specific consumer products that reflect their Website search interests.

Cyber Apps plansDuring initial development, the vendor of the Website is able to offer products from 86 existing sellers and has agreements with an additional 420 sellers. As with other price comparison websites, we will not charge users anything to use the Website. We intend to generate revenues usingrevenue by securing commission payments from retailers and other sellers. These payments will vary from seller to seller, but will either consist of a fee for each time one of our users accesses a retail website through our website, a fee for each time one of our users buys an item from a retailer or register with their website, or a flat fee for inclusion on our website. Each fee arrangement with a retailer will be negotiated separately. Since our acquisition of the Website and related technology, we have retained software developers in India that have continued development of the Website for commercial deployment.

Privacy and Value Software

On March 15, 2021, we entered into an agreement to processacquire employee monitoring software known as “Privacy and complete transactions aroundValue”. The software product attempts to balance employer concerns regarding employee efficiency and productivity with employee privacy.

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As companies are increasingly attempting to meet the worlddemands 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 reduced overhead andhaving staff work in a minimal cost for handling. Products would be shipped directlyseparate location that removes them from the Merchant Partnerdaily, direct oversight of management is that employee productivity will suffer. One of the responses to this concern is for businesses to use some form of worker surveillance in order to ensure that employees are utilizing their work time efficiently. However, businesses may face pushback from their staff due to concerns that their personal privacy is compromised when they are subject to constant monitoring during work hours. They may resist practices such as webcam surveillance or persistent computer screen observation.

To address employer concerns regarding staff efficiency and employee concerns regarding privacy, we intend market and sell the Privacy and Value software that has features to monitor worker computer productivity while providing employees with reasonable privacy during their work days. The features of the software are as follows:

● the software will monitor the employees’ computer desktops while they are actually working on the system. Surveillance will commence when an employee logs on to his or her computer through our software and will continue until the employee logs out of the system. After an employee signs out of the software, recording and monitoring will cease and the employee can access his or her computer contents and the Internet for personal purposes;

● when the employee is logged in, the software will allow management to maintain real-time access to employee activity and to view each employee’s desktop screen content and the keystrokes that the employee is typing. All of this information will also be recorded and stored for future management use with all information time stamped. The file name for each day’s recording will be the employee’s first name, last name, and the year, month, and day, which will allow a manager to identify the appropriate recording without difficulty; and

● based on employee actions, the software will calculate the amount of time that the employee was logged into the system based on a searchable time period (e.g., a shift, a week, or a month). It will also indicate the length of various time periods during which the employee did not make any keystrokes on his or her computer and allow the manager to quickly access the recording of employee’s desktop at the times when keystrokes commenced and stopped. The software will also provide details of the length of each break that the employee takes during the work period analyzed. It will also have tools that the manager can use, in tabular and graphic form, to compare the efficiency of employees in terms of keystrokes and time logged in to their computer.

In consideration of the vendor selling the Privacy and Value software to us, we agreed to:

(a) pay $10,000 to the vendor upon execution of the agreement; and

(b) pay, by June 15, 2021, an amount equal to the estimation of value of a 50% interest in the Software and the related data and databases based on an independent business valuation completed by a valuator who is accredited by the American Society of Appraisers and acceptable to both parties less the $10,000 cash payment noted above. Notwithstanding the valuation’s estimation of value of the software, the amount of the additional payment shall not be less than $50,000 and shall not exceed $250,000. We obtained an independent business valuation on the Software in June 2021, which indicated that we would have to pay $250,000 to complete the acquisition of a 50% interest in the Software.

We did not make the payment due on June 15, 2021 and are attempting to renegotiate the terms of the acquisition.

Friendly and Fast Delivery Service

We are currently developing a delivery computer application known as Friendly and Fast. The application is being designed to allow users to order food, groceries, and other courier services.

Friendly and Fast will target both individuals and corporate customer further reducingsegments. 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 transaction costapplication in Ahmedabad, India and have commissioned a private company to be primarily responsible for us.the completion of the application development.

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LiquidityResults of Operations for the three and Capital Resourcesnine months Ended April 30, 2022

Our net loss for the three and nine-month periods ended April 30, 2022 were $58,805 and $174,688 respectively (April 30, 2021 - $87,449 and $249,747), which consisted entirely of general and administrative fees. We have not generated significant revenue during this period. The net loss in the current fiscal year is lower than our net loss in the comparative period in fiscal 2021 due to a decrease in software development costs.

LIQUIDITY AND CAPITAL RESOURCES

As of April 30, 2016, we had2022, our current assets were $10,752 compared to $112,834 on July 31, 2021. The decrease in current assets is attributable to a decrease in cash on handfrom proceeds of $0 and liabilities of $192,208share issuances during the period as compared withto the prior fiscal year.

As of April 30, 2022, our liabilities of $210,516 atwere $371,003 compared to $748,618 on July 31, 2015. Accounts2021. The decrease in liabilities is attributable to a reduction in our both our accounts payable and convertible note payables from conversions of debt into shares in the period.

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

We have not generated positive cash flows from operating activities. For the nine-month period ended April 30, 2022, net cash flows used in operating activities were $154,3455 consisting of a net loss of $174,677, which was offset by reduction in accounts payable and accrued expenses increased at April 30, 2016, to $121,163 as compared with $112,637 at July 31, 2015liabilities of $14,668 and notes payable were $41,278 at April 30, 2016, as compared to $68,112 at July 31, 2015.deposits and prepayments of $35,000.

At April 30, 2016, we had a working capital deficiency of $182,208 and a stockholders' deficit of $179,208.Cash Flows from Investing Activities

We had net cash provided by operating activities of $3,000 inFor the nine monthsnine-month period ended April 30, 2016, as compared with $0 in the comparable period in 2015, and2022, net cash flows used in investing activities forwere $70,866 consisting entirely of software development costs incurred in the purchase of website was $3,000 during 2016 and $0 in 2015.period.

Since our incorporation, weCash Flows from Financing Activities

We have financed our operations almost exclusively through advancesprimarily from either the issuance of our shares of common stock or from loans. Net cash flows generated from financing activities were $158,130 in the nine-month period ended April 30, 2022, which consisted of $485,612 from our controlling shareholders. We expectissuance of common stock and $32,000 relating to finance operations throughan obligation to issue stock, which were offset by a change in convertible notes payable of $316,000 and a change in loans payable of $43,482.

OFF-BALANCE SHEET ARRANGEMENTS

As of the saledate of equity or other investments for the foreseeable future, asthis report, we do not receive significant revenue fromhave any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our new business operations.  There is no guaranteefinancial 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, 2021 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 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.

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Our auditors are of the opinion that our continuationcontinue as a going concern, is in doubt.  Our continuation as a going concern is dependent upon continued financial support from” which contemplates that we will realize our shareholdersassets and other related parties.

Critical Accounting Issues

The Company's discussionsatisfy our liabilities and analysis of its financial condition and results of operations are based upon the Company's financial statements, which have been prepared in accordance with accounting principles generally acceptedcommitments in the United Statesordinary course of America. The preparation of the financial statements requires the Company to make estimates and judgments that affect the reported amount of assets, liabilities, and expenses, and related disclosures of contingent assets  and liabilities. On an on-going basis, the Company evaluates its estimates, including those related to intangible assets, income taxes and contingencies and litigation. The Company bases its estimates on historical experience and on  various assumptions that are believed to be reasonable under the circumstances,  the results of which form the basis for making judgments about carrying values  of assets and liabilities that are not readily apparent from other sources.  Actual results may differ from these estimates under different assumptions or conditions.business.

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ITEM 3. Quantitative and Qualitative Disclosures About Market Risk.

Interest Rate Risk - Interest rate risk refers to fluctuations in the value of a security resulting from changes in the general level of interest rates. Investments that are classified as cash and cash equivalents have original maturities of three months or less. Our interest income is sensitive to changes in the general level of U.S. interest rates. We do not have significant short-term investments, and due to the short-term nature of our investments, we believe that there is not a material risk exposure.

Commodity Price Risk – The raw materials for manufacturing our batteries could be affected by changes in the commodities markets, and if we commence manufacturing our own lithium ion batteries, we could be subject to this risk.

ITEMItem 4. Controls and Procedures.

As supervised by our board of the enddirectors and our principal executive and principal financial officer, management has established a system of the fiscal quarter covered by this Form 10-Q, the Company carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer and Principal Financial and Accounting Officer, of the effectiveness of the design and operation of the Company’s disclosure, controls and procedures asand 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 Rule 13a-14 of the Securities Exchange Act of 1934. Based upon that1934 (“Exchange Act”) Rule 13a-15(e)) as of April 30, 2022, were not effective, based on the evaluation the Chief Executive Officer and Principal Financial and Accounting Officer concluded that the Company’s disclosureof these controls and procedures arerequired 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, 2022. 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 effective in timely alerting herinclude an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to material information relatingattestation by our registered public accounting firm, pursuant to rules of the Company (including its consolidated subsidiaries) requiredSecurities and Exchange Commission that permit us to be includedprovide only management’s report in this Quarterly Report on Form 10-Q. annual report. Management concluded in this assessment that as of April 30, 2022, 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 Company’sExchange Act) during the third quarter of our 2022 fiscal year that have materially affected, or are reasonably likely to materially affect, our internal controls or in other factors which could significantly affect internal controls subsequentcontrol over financial reporting.

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PART II—OTHER INFORMATION

Item 1.  Legal Proceedings.

East Capital Investment Corp.

In July 2021, we initiated legal action against East Capital Investment Corp. for its alleged conversion of a penalty amount into our common stock prior to the dateexpiry of the Company carried outstatutory hold period. We obtained default judgment against East Capital when the defendant failed to respond to our complaint within the time permitted. On October 25, 2021, we provided evidence to Nevada’s Eighth Judicial District Court regarding the damages that we suffered as a result of East Capital Investment Corp.’s unjust enrichment and the decline in its evaluation.market capitalization that its sale of our stock. As a result, the Court has issued a default judgment order that Cyber Apps be entitled to recover approximately $2.7 million in damages from East Capital Investment Corp.

Black Ice Advisors LLC

In July 2021, we commenced legal action against Black Ice Advisors LLC (“Black Ice”) in Nevada District Court for breach of contract claims relating to a share purchase agreement and corresponding convertible promissory note. Pursuant to the convertible promissory note, on May 3 2021, Black Ice converted $38,330 in debt into 3,833,000 shares of our common stock. On June 3, 2021, Black Ice provided our transfer agent with another notice of conversion whereby it converted another $56,310 into 5,631,000 of our shares, which Black Ice received and then immediately sold into the market. However, at the time of the second conversion, we only owed $22,045 to Black Ice. Accordingly, we allege that Black Ice received and sold 3,426,500 to which it was not entitled.

As a result of Black Ice’s excess conversion, we suffered damages due to the dilution to our share capital and Black Ice realized a monetary benefit from the receipt and sale of the shares to which it was not entitled. We are seeking damages that include the disgorgement of the profits that Black Ice wrongfully received, as well as compensation for the adverse impact on our market price and the loss of business that it suffered as a result of the inability to raise further financing.

EMA Financial, LLC.

In June 2021, we commenced legal action against EMA Financial, LLC’s (“EMA”) in Nevada District Court for breach of contract claims relating to a share purchase agreement and corresponding convertible promissory note. In March 2021, we attempted to prepay EMA’s convertible promissory note for the premium stipulated in the note, but EMA, relying on a most favored nation clause, took the position that the payout amount was significantly higher than the amount that we believed was due. Our legal counsel put EMA on notice that we disputed the prepayment amount due pursuant to the note.

On April 6, 2021, EMA provided us and our transfer agent with a notice of conversion whereby it instructed the transfer agent to convert the entire principal amount of the note, plus interest, for 1,281,682 of our shares. Because the note contains a clause that allows EMA to cancel the conversion if the shares are not issued within one business day of the conversion notice, EMA canceled the conversion on April 8 following the decline in our stock price. The transfer agent advised us that it could not issue the converted shares by the one business day deadline because EMA did not provide it with the necessary documentation to affect the conversion and issue the shares.

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PART II. OTHER INFORMATION

EMA provided successive conversion notices to us and our transfer agent, which resulted in EMA being issued 18,369,800 shares in our common stock. Through its sales of this stock, our share price declined from by over 90% from $0.102 on April 6, 2021, to $0.009 on May 23, 2021.

We were ready, willing, and able to prepay EMA’s note for the amount originally stated in the note by the prepayment deadline date and suffered damages due to EMA’s failure to accept that prepayment. Moreover, we allege that EMA acted in bad faith by providing notice of conversion of its note to its transfer agent and then failing to provide the transfer agent with the documentation necessary to affect the conversion so that it could withdraw the conversion if our stock price subsequently fell or proceed with the conversion if the stock value increased or remained stable.

We are seeking damages of $15,256,438 for its decrease in market capitalization due to the wrongful actions of EMA, as well as punitive and other damages.

EMA successfully brought a motion to transfer the venue of the United States District Court for the Southern District of New York. We have retained legal counsel in New York to pursue our legal claims against EMA.

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

We have disclosed all unregistered sales of equity securities during the quarter ended April 30, 2022 in current reports on Form 8-K filed with the Securities & Exchange Commission.

Item 3.  Defaults Upon Senior Securities.

None.

Item 4. Mine Safety

Not Applicable.

Item 5. Other Information

None.

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ITEM

Item 6. ExhibitsExhibits.

3131.1Certification of Chief Executive Officer and PrincipalChief Financial Officer Pursuantpursuant to Section 302302(a) of the Sarbanes-Oxley Act of 2002, filed herewith.
  
3232.1Certification of Chief Executive Officer and PrincipalChief Financial Officer Pursuant to 18 U.S.C.Under Section 1350 as Adoptedadopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.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 
101.SCHXBRL Taxonomy Extension Schema Document
101.CAL 
101.CALXBRL Taxonomy Calculation Linkbase Document
101.DEF 
101.DEFXBRL Taxonomy Extension Definition Linkbase Document
101.LAB 
101.LABXBRL Taxonomy Label Linkbase Document
101.PRE 
101.PREXBRL Taxonomy Presentation Linkbase Document

The XBRL related information in Exhibits 101 to this QuarterlyAnnual Report on Form 10-Q10-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.

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SIGNATURES

 

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.

Dated: June 8, 2022CYBER APPS WORLD, INC.
By:/s/ Liudmilla Voinarovska
Chief Executive Officer and Principal Financial OfficerCyber Apps World Inc.
   
 By:Date: June 14, 2016/s/ Mohammed Irfan Rafimiya Kazi
Mohammed Irfan Rafimiya Kazi
President, Chief Executive Officer, Chief Financial Officer, and director

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