Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jun. 30, 2018 | Aug. 10, 2018 | |
Document And Entity Information | ||
Entity Registrant Name | Cyberfort Software, Inc. | |
Entity Central Index Key | 1,522,787 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 31,258,612 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,019 |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2018 | Mar. 31, 2018 |
Current assets | ||
Cash | $ 22 | $ 652 |
Prepaid expenses | 1,667 | |
Total current assets | 1,689 | 652 |
TOTAL ASSETS | 1,689 | 652 |
Current liabilities | ||
Accounts payable | 297,270 | 115,841 |
Accrued expenses | 1,659 | 399,907 |
Stock payable | 12,500 | 100,000 |
Convertible notes payable | 72,101 | 52,441 |
Notes payable | 121,750 | 150,000 |
Total current liabilities | 505,280 | 818,189 |
Total liabilities | 505,280 | 818,189 |
Commitments | ||
Stockholders' deficit: | ||
Common stock, $0.001 par value - 100,000,000 share authorized, 31,258,612 and 8,612 shares issued and outstanding at June 30, 2018 and March 31, 2018 having given effect to the reverse stock split effective April 19, 2018 | 31,259 | 9 |
Additional paid-in capital | 4,014,441 | 3,338,626 |
Accumulated deficit | (4,549,291) | (4,156,172) |
Total stockholders' deficit | (503,591) | (817,537) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT | $ 1,689 | $ 652 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2018 | Mar. 31, 2018 |
Stockholders’ deficit: | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 31,258,612 | 8,612 |
Common stock, shares outstanding | 31,258,612 | 8,612 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Statements Of Operations | ||
Net revenue | ||
Operating expenses: | ||
General and admin. expenses | 35,705 | 36,111 |
Loss on conversion of accrued compensation | 344,285 | |
Stock compensation expense | 12,500 | 12,500 |
Total operating expenses | 392,490 | 48,611 |
Loss from operations | (392,490) | (48,611) |
Other (expenses)/income | ||
Interest Expense | (629) | |
Net loss | $ (393,119) | $ (48,611) |
Loss per common share - basic and diluted | $ (0.02) | $ (5.67) |
Weighted average common shares outstanding - basic and diluted | 23,895,975 | 8,576 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (393,119) | $ (48,611) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 12,500 | 12,500 |
Loss on conversion of accrued compensation | 344,285 | |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (1,667) | 2,500 |
Accounts payable and accrued expenses | 17,711 | 29,210 |
Net cash used in operating activities | (20,290) | (4,401) |
Cash flows from financing activities: | ||
Net proceeds from convertible notes payable | 19,660 | |
Net cash provided by financing activities | 19,660 | |
Net change in cash | (630) | (4,401) |
Cash at the beginning of the period | 652 | 4,424 |
Cash at the end of the period | 22 | 23 |
Supplemental disclosures of cash flow information: | ||
Cash paid for income taxes | ||
Cash paid for interest | ||
Non-cash investing and financing transactions: | ||
Common stock issued for conversion of note payable | $ 28,250 |
ORGANIZATION
ORGANIZATION | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
NOTE 1 - ORGANIZATION | Cyberfort Software, Inc. (formerly known as Patriot Berry Farms, Inc.) (Cyberfort or “The “Company”) was incorporated in the State of Nevada on December 15, 2010 under the name of Gaia Remedies, Inc. On September 26, 2016, the board of directors and the majority shareholders of the Patriot Berry Farms, Inc. approved an amendment to the Articles of Incorporation of the Company to change its name from Patriot Berry Farms, Inc. to Cyberfort Software, Inc. Cyberfort is in the business of developing, marketing, and acquiring software security technology. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | BASIS OF PRESENTATION Interim Accounting The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended June 30, 2018, are not necessarily indicative of the results that may be expected for the year ended March 31, 2019. The Company’s 10-K for the year ended March 31, 2018, filed on July 25, 2018, should be read in conjunction with this Report. USE OF ESTIMATES The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. CASH AND CASH EQUIVALENTS Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $22 and $652 in cash as of June 30, 2018 and March 31, 2018, respectively. INCOME TAXES The Company accounts for income taxes under FASB ASC 740 “Income Taxes.” STOCK-BASED COMPENSATION The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 “Equity - Based Payments to Non-Employees.” a b NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. RECLASSIFICATION For comparability, certain prior year amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2018. The reclassifications have no impact on net loss. |
GOING CONCERN
GOING CONCERN | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
NOTE 3 - GOING CONCERN | The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. As of June 30, 2018 and March 31, 2018, the Company has an accumulated deficit of $4,549,291 and $4,156,172, respectively. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. The ability of the Company to continue its operations is dependent upon, among other things, obtaining additional financing. In response to this and other potential problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
RELATED PARTY ADVANCES
RELATED PARTY ADVANCES | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
NOTE 4 - RELATED PARTY ADVANCES | As of June 30, 2018 and March 31, 2018, the Company did not have any related party transactions, respectively. |
NOTES PAYABLE
NOTES PAYABLE | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
NOTE 5 - NOTES PAYABLE | The Company assumed a non-interest bearing Note Payable of $150,000 with a maturity date of March 18, 2017 as a part of the acquisition of the Vivio App in September 2016. The Company is negotiating with the Note holder to amend the Note’s terms. On June 19, 2108, $28,250 of the Note was converted into 1,250,000 shares of the Company’s common stock. As of June 30, 2018, the balance of the Note was $121,750. The Note is in default. On October 4, 2017, the Company entered into a convertible loan agreement for $12,500 with an interest rate of 8% per annum and a maturity date of October 3, 2018. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On November 10, 2017, the Company entered into a convertible loan agreement for $5,466 with an interest rate of 8% per annum and a maturity date of November 9, 2018. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On November 24, 2017, the Company entered into a convertible loan agreement for $1,700 with an interest of 8% per annum and a maturity date of November 23, 2018. The loan is convertible into the Company’s common stock at the market value on at the date of conversion. The loan was paid in full during the year. On December 14, 2017, the Company entered into a convertible loan agreement for $13,300 with an interest rate of 8% per annum and a maturity date of December 13, 2018. The loan is convertible into the Company’s common stock at the market value on the date of conversion On January 24, 2018, the Company entered into a convertible loan agreement for $3,000 with an interest rate of 8% per annum and a maturity date of January 23, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On February 13, 2018, the Company entered into a convertible loan agreement for $11,000 with an interest rate of 8% per annum and a maturity date of February 12, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On March 26, 2018, the Company entered into a convertible loan agreement for $2,200 with an interest rate of 8% per annum and a maturity date of March 25, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On March 31, 2018, the Company entered into a convertible loan agreement for $4,974 with an interest rate of 8% per annum and a maturity date of March 30, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On June 28, 2018, the Company entered into a convertible loan agreement for $18,540 with an interest rate of 8% per annum and a maturity date of June 30, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
NOTE 6 - STOCKHOLDERS' EQUITY (DEFICIT) | On April 19, 2018, the Company underwent a reverse stock split at a ratio of 10,000 to 1 share, reducing the issued and outstanding shares from 86,123,796 to 8,612 shares issued and outstanding as of the date of the reverse split. All share amounts in these financial statements and footnotes reflect the reverse stock split. On December 14, 2017, the Company issued 17 shares of its common stock in exchange for $60,000 received during the year ending March 31, 2017 and recorded as a Stock Payable. The Company had received cash of $60,000 under Subscription Agreements to issue the 17 shares of common stock during the year ended March 31, 2017, but the Agreements were not executed by the investors and the common stock was not issued. On March 29, 2018, the Company issued 19 shares of common stock in completion of various Stock Subscription Agreements executed during fiscal 2018. On April 19, 2018, the Company issued 30,000,000 shares, post-split, to the Company’s President as repayment for accrued compensation and accrued stock payable On June 19, 2018, the Company issued 1,250,000 shares of its common stock for conversion of a note payable. Under the employment agreement with the CEO, the Company is required to grant shares of restricted stock after each anniversary date. At June 30, 2018 and March 31 2018, the company has accrued a stock payable for shares earned but not issued of $12,500 and $100,000, respectively. The number of shares will be determined based upon market value of the stock at the point in time of issuance. As of June 30, 2018 and March 31, 2018 there were 31,258,612 and 8,612 shares of common stock issued and outstanding, respectively having given effect to the 10,000 to 1 reverse stock split completed on April 19, 2018. |
SIGNIFICANT ACCOUNTING POLICI12
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jun. 30, 2018 | |
Significant Accounting Policies | |
BASIS OF PRESENTATION | Interim Accounting The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended June 30, 2018, are not necessarily indicative of the results that may be expected for the year ended March 31, 2019. The Company’s 10-K for the year ended March 31, 2018, filed on July 25, 2018, should be read in conjunction with this Report. |
USE OF ESTIMATES | The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. |
CASH AND CASH EQUIVALENTS | Cash and cash equivalents include cash in banks, money market funds, and certificates of term deposits with original maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $22 and $652 in cash as of June 30, 2018 and March 31, 2018, respectively. |
INCOME TAXES | The Company accounts for income taxes under FASB ASC 740 “Income Taxes.” |
STOCK-BASED COMPENSATION | The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of FASB ASC 505-50 “Equity - Based Payments to Non-Employees.” a b |
NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK | The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. |
RECLASSIFICATION | For comparability, certain prior year amounts have been reclassified, where appropriate, to conform to the financial statement presentation used in 2018. The reclassifications have no impact on net loss. |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 3 Months Ended |
Jun. 30, 2018 | |
Organization | |
Date of Incorporation | Dec. 15, 2010 |
State of Incorporation | Nevada |
SIGNIFICANT ACCOUNTING POLICI14
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | Jun. 30, 2018 | Mar. 31, 2018 |
Significant Accounting Policies Details Narrative | ||
Cash | $ 22 | $ 652 |
GOING CONCERN (Details Narrati
GOING CONCERN (Details Narrative) - USD ($) | Jun. 30, 2018 | Mar. 31, 2018 |
Going Concern | ||
Accumulated Deficit | $ (4,549,291) | $ (4,156,172) |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | Dec. 14, 2017 | Nov. 10, 2017 | Oct. 04, 2017 | Jul. 19, 2018 | Jun. 28, 2018 | Mar. 31, 2018 | Mar. 26, 2018 | Feb. 13, 2018 | Jan. 24, 2018 | Nov. 24, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 |
Common stock issued for conversion of note payable | $ 28,250 | ||||||||||||
Notes payable | $ 150,000 | $ 121,750 | $ 150,000 | ||||||||||
Convertible loan agreement [Member] | |||||||||||||
Maturity date | Dec. 13, 2018 | Nov. 9, 2018 | Oct. 3, 2018 | Jun. 30, 2019 | Mar. 30, 2019 | Mar. 25, 2019 | Feb. 12, 2019 | Jan. 23, 2019 | Nov. 23, 2018 | ||||
Convertible debt | $ 13,300 | $ 5,466 | $ 12,500 | $ 18,540 | $ 4,974 | $ 2,200 | $ 11,000 | $ 3,000 | $ 1,700 | 4,974 | |||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||||
Vivio App [Member] | |||||||||||||
Non-interest bearing note payable assumed | $ 150,000 | ||||||||||||
Maturity date | Mar. 18, 2017 | ||||||||||||
Common stock issued for conversion of note payable | $ 28,250 | ||||||||||||
Debt conversion, converted instrument, shares issued | 1,250,000 |
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT) (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Jul. 19, 2018 | Apr. 19, 2018 | Mar. 31, 2017 | Jun. 30, 2018 | Mar. 31, 2018 | Mar. 29, 2018 | |
Reverse stock split | 10,000 to 1 share | |||||
Revised shares after reverse stock splits | 8,612 | |||||
Common stock, shares issued | 31,258,612 | 8,612 | ||||
Common stock, shares outstanding | 31,258,612 | 8,612 | ||||
Stock payable | $ 12,500 | $ 100,000 | ||||
Various Stock Subscription Agreements [Member] | ||||||
Common stock, shares issued | 19 | |||||
Subscription Agreements [Member] | ||||||
Common stock reserved for future issuance | 17 | |||||
Stock subscription payable | $ 60,000 | |||||
President [Member] | ||||||
Common stock issued for compensation and accrued stock payable | 30,000,000 | |||||
Vivio App [Member] | ||||||
Debt conversion, converted instrument, shares issued | 1,250,000 |