Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jan. 31, 2019shares | |
Document And Entity Information | |
Entity Registrant Name | Cyber Apps World |
Entity Central Index Key | 0001230524 |
Document Type | 10-Q |
Document Period End Date | Jan. 31, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --07-31 |
Is Entity's Reporting Status Current? | Yes |
Entity Filer Category | Smaller Reporting Company |
Entity Common Stock, Shares Outstanding | 49,519,935 |
Document Fiscal Period Focus | Q2 |
Document Fiscal Year Focus | 2019 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Jan. 31, 2019 | Jul. 31, 2018 |
Current assets: | ||
Deposits | $ 12,397 | $ 469 |
Total current assets | 12,397 | 469 |
Property and equipment, net | ||
Total assets | 12,397 | 469 |
Current liabilities: | ||
Accounts payable and accrued expenses | 125,054 | 101,536 |
Convertible notes payable | 29,767 | |
Notes payable | 77,593 | |
Loan Payable | 100,000 | |
Total current liabilities | 225,054 | 208,896 |
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, 2018; 49,519,935 and 24,319,935 issued and outstanding at January 31, 2018 and July 31 2018 , respectively. | 49,520 | 24,320 |
Additional paid-in capital | 8,372,742 | 8,347,542 |
Accumultated deficit | (8,609,719) | (8,580,289) |
Stockholders' deficiency | (212,657) | (208,427) |
Total liabilities and stockholders' deficiency | $ 12,397 | $ 469 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jan. 31, 2019 | Jul. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par Value | $ .001 | $ .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 | $ .001 | $ .001 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares Issued | 49,519,935 | 24,319,935 |
Common Stock, Shares Outstanding | 49,519,935 | 24,319,935 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | |
Income Statement [Abstract] | ||||
Net sales | ||||
Operating expenses: | ||||
General and administrative | 12,794 | 870 | 29,430 | 294 |
Research and development | ||||
Total operating expenses | 12,794 | 870 | 29,430 | 294 |
Income / (Loss) from operations | (12,794) | (870) | (29,430) | (294) |
Other (expenses)/income | ||||
Net Income / (Loss) before provision for income taxes | (12,794) | (870) | (29,430) | (294) |
Provision for (benefit from) income taxes | ||||
Net Income / (Loss) | $ (12,794) | $ (870) | $ (29,430) | $ (294) |
Net loss per common share - basic and diluted | ||||
Weighted average number of common shares outstanding - basic and diluted | 47,858,397 | 24,319,935 | 36,024,853 | 24,319,935 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income / (loss) | $ (29,430) | $ (294) |
Adjustments to reconcile net loss to net cash utilized by operating activities | ||
Shares issued for cash | 25,200 | |
Change in Deposit | (11,928) | (469) |
Change in accounts payable and accrued expenses | 23,518 | (24,913) |
Change in other receivable | ||
Net cash used in operating activities | (7,360) | (25,676) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Net cash used in investing activities | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Loan Payable | 100,000 | |
Note Payable | (77,593) | 25,676 |
Repayment of convertible note | (29,767) | |
Net cash provided by financing activities | (7,360) | 25,676 |
CHANGE IN CASH AND CASH EQUIVALENTS | ||
Net decrease in cash and cash equivalents | ||
Cash and cash equivalents at end of year | ||
Cash paid during the year for: | ||
Interest | ||
Income taxes |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jan. 31, 2019 | |
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 January 31, 2019, 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 January 31, 2019. 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 financed its operations almost exclusively through advances from its controlling shareholders. 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 new 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 1 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2018. There were no significant changes to these accounting policies during the Six months ended January 31, 2019 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 | 6 Months Ended |
Jan. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Common Share | Note 2. Net Loss Per Common Share Loss per share is computed based on the weighted average number of shares outstanding during the year. Diluted loss per common share is computed by dividing net 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 instruments that could affect the calculated number of shares. We incurred a net loss of $2,034 during the year ended July 31, 2018, and a loss of $29,430 for period ended January 31, 2019. |
Convertible Notes Payable and N
Convertible Notes Payable and Notes Payable | 6 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Convertible Notes Payable and Notes Payable | Note 3. Convertible Notes Payable and Notes Payable As of July 31, 2018, the Company has a balance of convertible notes is $77,593 which is convertible into common stock at approx. $0.02 per share. If all of the debt is converted it would result in the issuance of 3,879,650 common shares. The debt is due upon demand and bears 0% interest. As of January 31, 2019 the convertible note has been repaid. As of January 31, 2019, the Company has one Promissory Note payable in the amount of $100,000, which is due and payable within 30 days of demand and bear’s 10% interest per annum. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jan. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 4. Subsequent Events The Company filed a 1:45 reverse split with FINRA which will reduce issued common stock to 1,098,2221 and authorized common stock to 1,111,111 effective February 19, 2019. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Condensed Interim Financial Statements | Condensed Interim Financial Statements – |
Going Concern | Going Concern The Company’s financial statements for the period ended January 31, 2019, 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 January 31, 2019. 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 financed its operations almost exclusively through advances from its controlling shareholders. 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 new 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 1 of the Company’s Annual Report on Form 10-K for the year ended July 31, 2018. There were no significant changes to these accounting policies during the Six months ended January 31, 2019 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 (Deta
Net Loss Per Common Share (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | Jul. 31, 2018 | |
Earnings Per Share [Abstract] | |||||
Net loss | $ (12,794) | $ (870) | $ (29,430) | $ (294) | $ 2,034 |
Convertible Notes Payable and_2
Convertible Notes Payable and Notes Payable (Details Narrative) - USD ($) | Jan. 31, 2019 | Jul. 31, 2018 |
Payables and Accruals [Abstract] | ||
Convertible notes payable | $ 77,593 | |
Promissory Note payable | $ 100,000 |