Document and Entity Information
Document and Entity Information | 9 Months Ended |
Apr. 30, 2021shares | |
Document And Entity Information | |
Entity Registrant Name | Cyber Apps World |
Entity Central Index Key | 0001230524 |
Document Type | 10-Q |
Document Period End Date | Apr. 30, 2021 |
Amendment Flag | false |
Current Fiscal Year End Date | --07-31 |
Is Entity's Reporting Status Current? | Yes |
Interactive Data Current | No |
Entity File Number | 000-50693 |
Entity Incorporation State Country Code | NV |
Shell Company | false |
Entity Small Business | true |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Filer Category | Non-accelerated Filer |
Entity Common Stock, Shares Outstanding | 171,792,634 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2021 |
Balance Sheets
Balance Sheets - USD ($) | Apr. 30, 2021 | Jul. 31, 2020 |
Current assets: | ||
Cash | $ 35,780 | $ 115 |
Prepayments & deposit | 10,652 | 984 |
Total current assets | 46,432 | 1,099 |
Intangible assets: | ||
Software | 716,420 | 412,019 |
Goodwill | 964,581 | 964,581 |
Total Fixed assets | 1,681,001 | 1,376,600 |
Total assets | 1,727,433 | 1,377,699 |
Current liabilities: | ||
Accounts payable and accrued liabilities | 113,732 | 126,474 |
Convertible notes payable | 681,963 | 190,300 |
Due to related parties | 10,000 | |
Loan payable | 105,079 | 126,785 |
Total current liabilities | 910,774 | 443,559 |
Total liabilities | 910,774 | 443,559 |
STOCKHOLDER'S EQUITY | ||
Preferred stock, $.001 par value, 10,000,000 shares authorized, 0 issued and outstanding | ||
Common stock, $.00075 par value, 250,000,000 shares authorized as of April 30, 2021 171,792,634 issued and outstanding at April 30th 2021 and 170,912,128 issued and outstanding at July 31st 2020, respectively. | 34,320 | 24,320 |
Additional Paid In Capital | 9,895,006 | 9,772,741 |
Deficit accumulated | (9,112,667) | (8,862,921) |
Total stockholder's equity | 816,659 | 934,140 |
Total liabilities and stockholder's equity | $ 1,727,433 | $ 1,377,699 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Apr. 30, 2021 | Jul. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par Value | $ .001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par Value | $ 0.00075 | $ 0.00075 |
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Shares Issued | 171,792,634 | 170,912,128 |
Common Stock, Shares Outstanding | 171,792,634 | 170,912,128 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2021 | Apr. 30, 2020 | |
Expenses | ||||
General and administrative | $ (87,449) | $ (63,921) | $ (249,747) | $ (117,256) |
Net Loss | $ (87,449) | $ (63,921) | $ (249,747) | $ (117,256) |
Net loss per share - basic and diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average shares outstanding - basic and diluted | 241,093,483 | 241,000,000 | 241,093,483 | 241,000,000 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 9 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Cash flows from operating activities | ||
Net loss for the period | $ (249,747) | $ (117,256) |
Change in operating assets and liabilities | ||
Prepayments & deposits | (9,668) | (11,127) |
Accounts payable and accrued liabilities | (20,242) | 349 |
Due to related party | 10,000 | |
Net cash used in operating activities | (269,656) | (128,034) |
Cash flows from investing activities | ||
Acquisition of intangible assets | (304,401) | (12,185) |
Convertible notes payable | 499,163 | 122,500 |
Net cash used in investing activities | 194,763 | 110,315 |
Cash flows from financing activities | ||
Loan Payable | (21,705) | 17,774 |
Proceeds from additional paid in capital | 122,264 | |
Proceeds from issuance of common stock | 10,000 | |
Net cash provided by financing activities | 110,559 | 17,774 |
Change in Cash | 35,665 | 55 |
Cash - beginning of period | 115 | 90 |
Cash - end of period | 35,780 | 145 |
Cash paid For: | ||
Interest | ||
Income tax |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1. Summary of Significant Accounting Policies Condensed Interim Financial Statements – Going Concern The Company’s financial statements for the period ended April 30, 2021 have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company did not have any revenue in and as of April 30, 2021. Additionally, for the nine-month period ended April 30, 2021, the Company reported a net loss of $249,747, operating cash outflows of $269,656 and an accumulated deficit of $9,112,667 as of April 30, 2021. Management recognized that the Company’s continued existence is dependent upon its ability to obtain needed working capital through additional equity and/or debt financing and revenue to cover expenses as the Company continues to incur losses. Since its incorporation, the Company has financed its operations through advances from its controlling shareholders, third-party convertible debt, and the sale of its common stock. Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms. The Company’s ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing and it may not be able to find such financing if required. Obtaining additional financing would be subject to a number of factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional financing unavailable to it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties. The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2020. There were no significant changes to these accounting policies during the nine months ended April 30, 2021 and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements |
Net Loss Per Common Share
Net Loss Per Common Share | 9 Months Ended |
Apr. 30, 2021 | |
Earnings Per Share [Abstract] | |
Net Loss Per Common Share | Note 2. Net Loss Per Common Share Basic loss per common share is computed based on the weighted average number of shares outstanding during the year. Diluted earnings per common share is computed by dividing net earnings (loss) by the weighted average number of common shares and potential common shares during the specified periods. The Company has no outstanding options or warrants that could affect the calculated number of shares. Common stock equivalents related to convertible debt are detailed in Note 3. |
Convertible Notes Payable and N
Convertible Notes Payable and Notes Payable | 9 Months Ended |
Apr. 30, 2021 | |
Payables and Accruals [Abstract] | |
Convertible Notes Payable and Notes Payable | Note 3. Convertible Notes Payable and Notes Payable As of April 30, 2021, the Company has a balance of convertible notes of $681,963 (July 31, 2020 - $190,300), 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’s stock within the prior 20 trading days prior to conversion. The convertible notes are due and payable on dates ranging from April 15, 2021 to October 27, 2021 and bear interest at rates ranging from 10% per annum to 12% per annum. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Condensed Interim Financial Statements | Condensed Interim Financial Statements – |
Going Concern | Going Concern The Company’s financial statements for the period ended April 30, 2021 have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. The Company did not have any revenue in and as of April 30, 2021. Additionally, for the nine-month period ended April 30, 2021, the Company reported a net loss of $249,747, operating cash outflows of $269,656 and an accumulated deficit of $9,112,667 as of April 30, 2021. Management recognized that the Company’s continued existence is dependent upon its ability to obtain needed working capital through additional equity and/or debt financing and revenue to cover expenses as the Company continues to incur losses. Since its incorporation, the Company has financed its operations through advances from its controlling shareholders, third-party convertible debt, and the sale of its common stock. Management’s plans are to finance operations through the sale of equity or other investments for the foreseeable future, as the Company does not receive significant revenue from its business operations. There is no guarantee that the Company will be successful in arranging financing on acceptable terms. The Company’s ability to raise additional capital is affected by trends and uncertainties beyond its control. The Company does not currently have any arrangements for financing and it may not be able to find such financing if required. Obtaining additional financing would be subject to a number of factors, including investor sentiment. Market factors may make the timing, amount, terms or conditions of additional financing unavailable to it. These uncertainties raise substantial doubt about the ability of the Company to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of these uncertainties. The Company’s significant accounting policies are summarized in Note 2 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2020. There were no significant changes to these accounting policies during the nine months ended April 30, 2021 and the Company does not expect that the adoption of other recent accounting pronouncements will have a material impact on its financial statements |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Apr. 30, 2021 | Apr. 30, 2020 | Apr. 30, 2021 | Apr. 30, 2020 | Jul. 31, 2020 | |
Accounting Policies [Abstract] | |||||
Net loss | $ (87,449) | $ (63,921) | $ (249,747) | $ (117,256) | |
Operating cash | (269,656) | $ (128,034) | |||
Deficit accumulated | $ (9,112,667) | $ (9,112,667) | $ (8,862,921) |
Convertible Notes Payable and_2
Convertible Notes Payable and Notes Payable (Details Narrative) - USD ($) | 9 Months Ended | |
Apr. 30, 2021 | Jul. 31, 2020 | |
Payables and Accruals [Abstract] | ||
Convertible Notes Payable | $ 681,963 | $ 190,300 |
Convertible notes, conversion price per share | 60.00% | |
Note payable interest rate | 10.00% | |
Convertible note maturity date | April 15, 2021 to October 27, 2021 |