Cover
Cover - shares | 6 Months Ended | |
Jan. 31, 2024 | Mar. 21, 2024 | |
Cover [Abstract] | ||
Entity Registrant Name | Cyber Apps World Inc. | |
Entity Central Index Key | 0001230524 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --07-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | No | |
Document Period End Date | Jan. 31, 2024 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2024 | |
Entity Common Stock Shares Outstanding | 1,272,917 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-50693 | |
Entity Incorporation State Country Code | NV | |
Entity Tax Identification Number | 90-0314205 | |
Entity Address Address Line 1 | Via Tomaso Rodari 6 | |
Entity Address City Or Town | Lugano | |
Entity Address Country | CH | |
Entity Address Postal Zip Code | 6900 | |
City Area Code | 41 | |
Local Phone Number | 791595013 | |
Entity Interactive Data Current | No |
CONDENSED CONSOLIDATED CONSOLID
CONDENSED CONSOLIDATED CONSOLIDATED BALANCE SHEETS - USD ($) | Jan. 31, 2024 | Jul. 31, 2023 |
Current assets: | ||
Cash | $ 5,698 | $ 3 |
Deposits & prepayments | 3,561 | 0 |
Total current assets | 9,259 | 3 |
Other assets: | ||
Lavaca County Texas Producing Asset | 39,280 | 0 |
Software development - WIP | 0 | 488,696 |
Total other assets | 39,280 | 488,696 |
Total Assets | 48,539 | 488,699 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 21,171 | 45,596 |
Total current liabilities | 21,171 | 45,596 |
Long term liabilities: | ||
Convertible notes payable | 0 | 180,686 |
Loan payable | 0 | 11,597 |
Total non-current liabilities | 0 | 192,283 |
Total Liabilities | 21,171 | 237,879 |
STOCKHOLDER'S EQUITY | ||
Preferred stock: $0.001 par value, 10,000,000 authorized, 100,000 issued and outstanding as of January 31, 2024 and July 31, 2023, | 100 | 100 |
Common stock: $0.001 par value, 250,000,000 authorized, 1,272,917 issued and outstanding as of January 31, 2024 and as of July 31, 2023, respectively | 1,272 | 506,755 |
Additional paid in capital | 11,262,696 | 10,624,138 |
Accumulated deficit | (11,236,700) | (10,880,173) |
Total Stockholder's Equity | 27,368 | 250,820 |
Total Liabilities and Stockholder's Equity | $ 48,539 | $ 488,699 |
CONDENSED CONSOLIDATED CONSOL_2
CONDENSED CONSOLIDATED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jan. 31, 2024 | Jul. 31, 2023 |
CONDENSED CONSOLIDATED CONSOLIDATED BALANCE SHEETS | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares, issued | 100,000 | 100,000 |
Preferred stock, shares, outstanding | 100,000 | 100,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares, issued | 1,272,917 | 1,272,917 |
Common stock, shares, outstanding | 1,272,917 | 1,272,917 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) | ||||
Net Sales | $ 0 | $ 0 | $ 0 | $ 0 |
Cost of Goods Sold | 0 | 0 | 0 | 0 |
Gross Income | 0 | 0 | 0 | 0 |
General and administrative | (7,168) | (53,447) | (75,243) | (77,205) |
Write off Accounts payable | 43,619 | 0 | 43,619 | 0 |
Write off Software | (488,696) | 0 | (488,696) | 0 |
Negotiating expenses | (25,465) | 0 | (25,465) | 0 |
Total operating expenses | (477,710) | (53,447) | (545,785) | (77,205) |
Operating loss | (477,710) | (53,447) | (545,785) | (77,205) |
Other income (expense) | ||||
Write off convertible notes | 0 | 0 | 180,686 | 0 |
Write off loan payable | 11,597 | 0 | 11,597 | 0 |
Financial expense | (3,025) | 0 | (3,025) | 0 |
Total other income (expense) | 8,572 | 0 | 189,258 | 0 |
Net income (loss) | $ (469,138) | $ (53,447) | $ (356,527) | $ (77,205) |
Net income per share - basic and diluted | $ (0.37) | $ 0 | $ (0.28) | $ 0 |
Weighted average shares outstanding - basic and diluted | 1,272,917 | 16,061,667 | 1,272,917 | 16,061,667 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY (UNAUDITED) - USD ($) | Total | Common Stock | Preferred Stock | Additional Paid In Capital | Shares To Be Issued | Accumulated Deficit |
Balance, shares at Jul. 31, 2022 | 807,616,147 | 100,000 | ||||
Balance, amount at Jul. 31, 2022 | $ 216,158 | $ 444,701 | $ 100 | $ 10,654,292 | $ 0 | $ (10,882,935) |
Issuance of Common Stock, shares | 97,454,780 | |||||
Issuance of Common Stock, amount | 38,450 | $ 76,841 | $ 0 | (38,391) | 0 | 0 |
Cancellation of Common shares | (889,011,264) | |||||
Preferred Stock Issuance, shares | 200,000 | |||||
Preferred Stock Issuance, amount | 200 | $ 0 | $ 200 | 0 | 0 | 0 |
Round up shares, shares | 2,004 | |||||
Round up shares, amount | 0 | $ 2 | $ 0 | (2) | 0 | 0 |
Net Income (Loss) | (77,205) | (77,205) | ||||
Balance, shares at Jan. 31, 2023 | 16,061,667 | 300,000 | ||||
Balance, amount at Jan. 31, 2023 | 177,603 | $ 521,544 | $ 300 | 10,615,899 | 0 | (10,960,140) |
Balance, shares at Jul. 31, 2023 | 1,272,917 | 100,000 | ||||
Balance, amount at Jul. 31, 2023 | 250,820 | $ 506,755 | $ 100 | 10,624,138 | 0 | (10,880,173) |
Issuance of Common Stock, amount | 0 | 0 | 0 | 0 | 0 | 0 |
Net Income (Loss) | (356,527) | (356,527) | ||||
Additional paid in capitake | 133,075 | 0 | 0 | 133,075 | 0 | 0 |
Fair Value Adjustment | 0 | $ (505,483) | $ 0 | 505,483 | 0 | 0 |
Balance, shares at Jan. 31, 2024 | 1,272,917 | 100,000 | ||||
Balance, amount at Jan. 31, 2024 | $ 27,368 | $ 1,272 | $ 100 | $ 11,262,696 | $ 0 | $ (11,236,700) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) | 6 Months Ended | |
Jan. 31, 2024 | Jan. 31, 2023 | |
Cash flows from operating activities | ||
Net income (loss) for the period | $ (356,527) | $ (77,205) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Impairment of Intangible assets | 488,696 | 0 |
Convertible Notes Write off | (180,686) | 0 |
Loan Payable write off | (11,597) | 0 |
Accounts payable write off | (43,619) | 0 |
Change in operating assets and liabilities | ||
Deposits & prepayments | (3,561) | 0 |
Accounts payable and accrued liabilities | 19,194 | (19,327) |
Due to parent-operating expenses | 88,075 | |
Net cash provided from (used in) operating activities | (25) | (96,532) |
Cash flows from investing activities | ||
Lavaca County Texas Producing Asset | (39,280) | 0 |
Software Development | 0 | (51,942) |
Net cash used in investing activities | (39,280) | (51,942) |
Cash flows from financing activities | ||
Change in convertible notes payable | 0 | 109,768 |
Proceeds from issuance of preferred shares | 0 | 20,000 |
Proceeds from issuance of common shares | 0 | 76,843 |
Proceeds from issuance of additional paid in capital | 0 | (38,393) |
Proceeds from additional paid in capital | 45,000 | 0 |
Net cash provided by financing activities | 45,000 | 148,418 |
Change in Cash | 5,695 | (56) |
Cash - beginning of period | 3 | 320 |
Cash - end of period | 5,698 | 264 |
Cash paid For: | ||
Interest | 0 | 0 |
Income tax | 0 | 0 |
Non-Cash Activities: | ||
Shareholder contribution converted from due to parent balance | 88,075 | 0 |
Fair Value Adjustment on common stock | $ 505,483 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jan. 31, 2024 | |
Summary of Significant Accounting Policies | |
Summary of Significant Accounting Policies | Note 1. Summary of Significant Accounting Policies Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated 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, 2023, included in the Company’s Form 10-K filed with the Securities and Exchange Commission. In particular, the Company’s significant accounting principles were presented as Note 2 to the Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying interim condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying interim condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending July 31, 2024. Going Concern The Company’s financial statements for the three and six months ended January 31, 2024, have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company did not have any revenue during the three and six months ended January 31, 2024. For the six months ended January 31, 2024 January 31, 2023 Net income (loss) (356,527 ) (77,205 ) Net cash provided from (used in) operating activities (25 ) (96,532 ) Accumulated deficit (11,236,700 ) (10,880,173 ) Management recognized that the Company’s continued existence is dependent upon its ability to obtain needed working capital through additional equity and/or debt financing and revenue to cover expenses as the Company continues to incur losses. Since its incorporation, the Company has financed its operations through advances from its controlling shareholders, third-party convertible debt, and the sale of its common stock. Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms. The Company’s ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing, and it may not be able to find such financing if required. Obtaining additional financing would be subject to a number of factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional financing unavailable to it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties. Since its acquisition of a controlling interest in August 2023, Zenith Energy Ltd. (“Zenith Energy”), our controlling stockholder, has provided approximately $140,000 in working capital on behalf of the Company. Zenith Energy has indicated that intends to continue to finance CYAP and its expansion into the energy sector, pending the receipt of additional financing. The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2023. There were no significant changes to these accounting policies during the three and six months ended January 31, 2024, and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements. |
Net ProfitLoss Per Common Share
Net ProfitLoss Per Common Share | 6 Months Ended |
Jan. 31, 2024 | |
Net ProfitLoss Per Common Share | |
Net Profit/Loss Per Common Share | Note 2. Net Profit/Loss Per Common Share Basic profit/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 by the weighted average number of common shares and potential common shares during the specified periods. The Company has no outstanding options or warrants that could affect the calculated number of shares. Common stock equivalents related to convertible debt are detailed in Note 3. |
Convertible Notes Payable and L
Convertible Notes Payable and Loan Payable | 6 Months Ended |
Jan. 31, 2024 | |
Convertible Notes Payable and Loan Payable | |
Convertible Notes Payable and Loan Payable | Note 3. Convertible Notes Payable and Loan Payable As of July 31, 2023, the Company holds a balance of convertible note payable in the amount of $180,686, and a balance of loan payable in the amount of $11,597. These balances were totally refunded in August 2023, in connection with the Zenith Energy’s group acquisition, and the Company recognized a profit from their writing off. |
Common Stock
Common Stock | 6 Months Ended |
Jan. 31, 2024 | |
Common Stock | |
Common Stock | 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. 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 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 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’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 August 18, 2021, the Company increased its authorized capital to 5,000,000,000 shares of common stock with par value $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. The Company also cancelled 141,000,000 shares of common stock for no monetary amount. During the year-ended July 31, 2023, the Company issued 98,045,405 shares of common stock for total proceeds of $31,900. The Company 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 be exchanged for one post-split share of common stock. Concurrently with the reverse split, the Company has approved the decrease in its authorized shares of common stock from 5,000,000,000 shares with par value $0.00075 to 250,000,000 shares with par value $0.001. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jan. 31, 2024 | |
Related Party Transactions | |
Related Party Transactions | Note 5. Related Party Transactions None |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jan. 31, 2024 | |
Subsequent Events | |
Subsequent Events | Note 6. Subsequent Events None. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jan. 31, 2024 | |
Summary of Significant Accounting Policies | |
Financial Statements | The accompanying unaudited condensed consolidated 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, 2023, included in the Company’s Form 10-K filed with the Securities and Exchange Commission. In particular, the Company’s significant accounting principles were presented as Note 2 to the Financial Statements in that report. In the opinion of management, all adjustments necessary for a fair presentation have been included in the accompanying interim condensed financial statements and consist of only normal recurring adjustments. The results of operations presented in the accompanying interim condensed financial statements are not necessarily indicative of the results that may be expected for the full year ending July 31, 2024. |
Going Concern | The Company’s financial statements for the three and six months ended January 31, 2024, have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company did not have any revenue during the three and six months ended January 31, 2024. For the six months ended January 31, 2024 January 31, 2023 Net income (loss) (356,527 ) (77,205 ) Net cash provided from (used in) operating activities (25 ) (96,532 ) Accumulated deficit (11,236,700 ) (10,880,173 ) Management recognized that the Company’s continued existence is dependent upon its ability to obtain needed working capital through additional equity and/or debt financing and revenue to cover expenses as the Company continues to incur losses. Since its incorporation, the Company has financed its operations through advances from its controlling shareholders, third-party convertible debt, and the sale of its common stock. Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms. The Company’s ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing, and it may not be able to find such financing if required. Obtaining additional financing would be subject to a number of factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional financing unavailable to it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties. Since its acquisition of a controlling interest in August 2023, Zenith Energy Ltd. (“Zenith Energy”), our controlling stockholder, has provided approximately $140,000 in working capital on behalf of the Company. Zenith Energy has indicated that intends to continue to finance CYAP and its expansion into the energy sector, pending the receipt of additional financing. The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2023. There were no significant changes to these accounting policies during the three and six months ended January 31, 2024, and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jan. 31, 2024 | |
Summary of Significant Accounting Policies | |
Schedule of Going Concern | For the six months ended January 31, 2024 January 31, 2023 Net income (loss) (356,527 ) (77,205 ) Net cash provided from (used in) operating activities (25 ) (96,532 ) Accumulated deficit (11,236,700 ) (10,880,173 ) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jan. 31, 2024 | Jan. 31, 2023 | Jan. 31, 2024 | Jan. 31, 2023 | Jul. 31, 2023 | |
Summary of Significant Accounting Policies | |||||
Net income (loss) for the period | $ (469,138) | $ (53,447) | $ (356,527) | $ (77,205) | |
Net cash provided from (used in) operating activities | (25) | (96,532) | |||
Accumulated deficit | $ (11,236,700) | $ (10,880,173) | $ (11,236,700) | $ (10,880,173) | $ (10,880,173) |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details Narrative) | Jan. 31, 2024 USD ($) |
Summary of Significant Accounting Policies | |
Working capital | $ 140,000 |
Convertible Notes Payable and_2
Convertible Notes Payable and Loan Payable (Details Narrative) - USD ($) | Jan. 31, 2024 | Jul. 31, 2023 |
Convertible Notes Payable and Loan Payable | ||
Convertible note payable | $ 0 | $ 180,686 |
Loan payable | $ 0 | $ 11,597 |
Common Stock (Details Narrative
Common Stock (Details Narrative) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Jul. 06, 2023 | Aug. 23, 2023 | Jun. 23, 2022 | Jan. 18, 2013 | Jan. 31, 2024 | Jan. 31, 2023 | Jul. 31, 2023 | Jul. 31, 2022 | Jan. 30, 2023 | Jan. 07, 2023 | Jul. 30, 2022 | Aug. 18, 2021 | |
Reverse split | 1:50 | |||||||||||
Common stock, share authorized | 250,000,000 | 250,000,000 | 5,000,000,000 | |||||||||
Proceed from issuance of common stock | $ 0 | $ 76,843 | ||||||||||
Preferred share issued | 100,000 | 100,000 | ||||||||||
Common stock, par value | $ 0.00075 | |||||||||||
Series A Preferred Shares | ||||||||||||
Proceed from issuance of preferred shares | $ 100 | |||||||||||
Preferred share issued | 100,000 | 200,000 | ||||||||||
Preferred stock, par value | $ 0.001 | |||||||||||
Cancellation of preferred shares | 200,000 | |||||||||||
Series A Preferred Shares | JanBella Group, LLC | ||||||||||||
Aquisition of preferred shares | 100,000 | 100,000 | ||||||||||
Voting right percentage | 99.97% | 99.87% | ||||||||||
Consideration of preferred shares | $ 398,400 | |||||||||||
Voting rights description | 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 | |||||||||||
Common Stocks [Member] | ||||||||||||
Common stock, share authorized | 500,000,000 | 10,000,000 | ||||||||||
Stock issued during period, shares | 98,045,405 | 559,629,879 | ||||||||||
Proceed from issuance of common stock | $ 31,900 | $ 689,901 | ||||||||||
Cancellation of common stock | 904,390,639 | 141,000,000 | ||||||||||
Maximum [Member] | ||||||||||||
Common stock, share authorized | 5,000,000,000 | |||||||||||
Common stock, par value | $ 0.00075 | |||||||||||
Minimum [Member] | ||||||||||||
Common stock, share authorized | 250,000,000 | |||||||||||
Common stock, par value | $ 0.001 |