Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2019 | Nov. 19, 2019 | |
Document And Entity Information | ||
Entity Registrant Name | Cyberfort Software, Inc. | |
Entity Central Index Key | 0001522787 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Entity Small Business | true | |
Entity Shell Company | false | |
Entity Emerging Growth Company | false | |
Entity Current Reporting Status | Yes | |
Document Period End Date | Sep. 30, 2019 | |
Entity Filer Category | Non-accelerated Filer | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Entity Common Stock Shares Outstanding | 35,173,205 |
Balance Sheets
Balance Sheets - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 |
ASSETS | ||
TOTAL ASSETS | ||
Current liabilities | ||
Accounts payable | 149,601 | $ 147,789 |
Accrued expenses | 345,104 | 282,257 |
Stock payable | 75,000 | 50,000 |
Convertible notes payable | 82,990 | 95,604 |
Notes payable | 135,000 | 135,000 |
Total current liabilities | 787,695 | 710,650 |
Total liabilities | 787,695 | 710,650 |
Commitments | ||
Stockholders' deficit: | ||
Common stock, $0.001 par value - 100,000,000 share authorized, 35,173,205 and 33,758,612 shares issued and outstanding at September 30, 2019 and March 31, 2019, respectively | 35,174 | 33,759 |
Additional paid-in capital | 4,204,016 | 4,068,440 |
Accumulated deficit | (5,026,885) | (4,812,849) |
Total stockholders' deficit | (787,695) | (710,650) |
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2019 | Mar. 31, 2019 |
Stockholders' deficit | ||
Common stock, shares par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 35,173,205 | 33,758,612 |
Common stock, shares outstanding | 35,173,205 | 33,758,612 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statements of Operations (Unaudited) | ||||
Net revenue | ||||
Operating expenses: | ||||
Selling, general and admin. expenses | 41,986 | 41,709 | 74,998 | 77,414 |
Loss on conversion of acrued compensation | 344,285 | |||
Stock compensation expense | 12,500 | 12,500 | 25,000 | 25,000 |
Total Operating expenses | 54,486 | 54,209 | 99,998 | 446,699 |
Loss from Operations | (54,486) | (54,209) | (99,998) | (446,699) |
Other (expenses) income | ||||
Interest expense | (112,597) | (1,579) | (114,038) | (2,208) |
Total other (expenses) income | (112,597) | (1,579) | (114,038) | (2,208) |
Net loss | $ (167,083) | $ (55,788) | $ (214,036) | $ (448,907) |
Loss per common share - basic and diluted | $ (0.01) | $ (0.02) | ||
Weighted average common shares outstanding - basic and diluted | 34,955,575 | 32,087,416 | 34,353,823 | 28,014,076 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Total | Common Stock Shares | Additional Paid-In Capital | Accumulated Deficit Stage |
Balance, shares at Mar. 31, 2018 | 8,612 | |||
Balance, amount at Mar. 31, 2018 | $ (817,537) | $ 9 | $ 3,338,626 | $ (4,156,172) |
Issuance of common stock for repayment to officer for accrued compensation and accrued stock payable, shares | 30,000,000 | |||
Issuance of common stock for repayment to officer for accrued compensation and accrued stock payable, amount | $ 678,814 | $ 30,000 | $ 648,814 | |
Issuance of common stock for note conversion, shares | 1,250,000 | |||
Issuance of common stock for note conversion, shares | 1,250,000 | |||
Net loss | (656,677) | $ (656,677) | ||
Issuance of common stock for note conversion, amount | 28,250 | 1,250 | 27,000 | |
Issuance of common stock for note conversion, amount | 28,250 | $ 1,250 | 27,000 | |
Issuance of common stock for note conversion, shares | 1,250,000 | |||
Issuance of common stock for note conversion, amount | 28,250 | $ 1,250 | 27,000 | |
Balance, shares at Mar. 31, 2019 | 33,758,612 | |||
Balance, amount at Mar. 31, 2019 | (710,650) | $ 33,759 | 4,068,440 | (4,812,849) |
Net loss | (46,953) | (46,953) | ||
Balance, shares at Jun. 30, 2019 | 33,758,612 | |||
Balance, amount at Jun. 30, 2019 | (757,603) | $ 33,759 | 4,068,440 | (4,859,802) |
Net loss | (167,083) | (167,083) | ||
Issuance of common stock for note conversion, shares | 1,414,593 | |||
Issuance of common stock for note conversion, amount | 136,991 | $ 1,415 | 135,576 | |
Balance, shares at Sep. 30, 2019 | 35,173,205 | |||
Balance, amount at Sep. 30, 2019 | $ (787,695) | $ 35,174 | $ 4,204,016 | $ (5,026,885) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities | ||
Net loss | $ (214,036) | $ (448,907) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock based compensation | 25,000 | 25,000 |
Loss on conversion of accrued compensation | 344,285 | |
Loss on conversion of note payable | 111,191 | |
Changes in operating assets and liabilities: | ||
Prepaid expenses | ||
Accounts payable and accrued expenses | 64,493 | 43,802 |
Net cash used in operating activities | (13,352) | (35,820) |
Cash flows from financing activities: | ||
Net proceeds from convertible notes payable | 13,187 | 35,550 |
Net cash provided by financing activities | 13,187 | 35,550 |
Net change in cash | (165) | (270) |
Cash at the beginning of the period | 652 | |
Cash at the end of the period | (165) | 382 |
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 | 25,800 | 56,500 |
ORGANIZATION
ORGANIZATION | 6 Months Ended |
Sep. 30, 2019 | |
ORGANIZATION | |
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 | 6 Months Ended |
Sep. 30, 2019 | |
SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | 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. FAIR VALUE MEASUREMENT Our financial instruments consist principally of accounts payable and accrued liabilities and notes payable. The carrying amounts of such financial instruments in the accompanying financial statements approximate their fair values due to their relatively short-term nature. It is management’s opinion that the Company is not exposed to any significant currency or credit risks arising from these financial instruments. 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 RESEARCH AND DEVELOPMENT COSTS The Company expenses the cost of research and development as incurred. Research and development costs totaled approximately $0 and $0 for the three months ended September 30, 2019 and September 30, 2018, respectively. 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. |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Sep. 30, 2019 | |
GOING CONCERN | |
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 September 30, 2019 and March 31, 2019, the Company has an accumulated deficit of $5,026,885 and $4,812,849. 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 emerge from the development stage is dependent upon, among other things, obtaining additional financing to continue operations. 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 TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Sep. 30, 2019 | |
RELATED PARTY TRANSACTIONS | |
NOTE 4 - RELATED PARTY TRANSACTIONS | During the three months ended September 30, 2019 and September 30, 2018, the Company did not have any related party transactions. |
NOTES PAYABLE
NOTES PAYABLE | 6 Months Ended |
Sep. 30, 2019 | |
NOTES PAYABLE | |
NOTE 5 - NOTES PAYABLE | The Company assumed a non-interest bearing note payable to Mistrin of $150,000 with a maturity date of March 18, 2017 as a part of the acquisition of the Vivio App in September 2016. On June 19, 2018, $5,000 of the note was converted into 1,250,000 shares of the Company’s common stock. On July 31, 2018, $5,000 of the note was converted into 1,250,000 shares of the Company’s common stock. On October 11, 2018, $5,000 of the note was converted into 1,250,000 shares of the Company’s common stock. As of September 30, 2019 and March 31, 2019, the balance of the note is $135,000 and $135,000. The note is in default. The Company is negotiating with the note holder to amend the note’s terms. |
CONVERTIBLE NOTES PAYABLE
CONVERTIBLE NOTES PAYABLE | 6 Months Ended |
Sep. 30, 2019 | |
CONVERTIBLE NOTES PAYABLE | |
NOTE 6 - CONVERTIBLE NOTES PAYABLE | On October 4, 2017, the Company entered into an unsecured convertible loan agreement for $12,500 with an interest rate of 8% per annum and a maturity date of October 3, 2018. The Company issued 1,414,593 shares for a price of $0.0226 per share in July of 2019 to satisfy the past-due debt. On November 10, 2017, the Company entered into an unsecured 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. This note is in default. On November 24, 2017, the Company entered into an unsecured 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 prior year. On December 14, 2017, the Company entered into an unsecured convertible loan agreement for $13,300 with an interest rate of 8% per annum and a maturity date of December 13, 2018. The Company issued 1,414,593 shares for a price of $0.0226 per share in July of 2019 to satisfy the past-due debt. On January 24, 2018, the Company entered into an unsecured 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. This note is in default. On February 13, 2018, the Company entered into an unsecured 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. This note is in default. On March 26, 2018, the Company entered into an unsecured 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. This note is in default. On March 31, 2018, the Company entered into an unsecured 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. This note is in default. On June 28, 2018, the Company entered into an unsecured convertible loan agreement for $18,540 with an interest rate of 8% per annum and a maturity date of June 27, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. This note is in default. On September 28, 2018, the Company entered into an unsecured convertible loan agreement for $15,890 with an interest rate of 8% per annum and a maturity date of September 27, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On December 12, 2018, the Company entered into an unsecured convertible loan agreement for $1,000 with an interest rate of 8% per annum and a maturity date of December 11, 2019. The loan is convertible into the Company’s common stock at the market value on the date of conversion. On June 30, 2019, the Company entered into an unsecured convertible loan agreement for $12,437 with an interest rate of 8% per annum and a maturity date of June 29, 2020. The loan is convertible into the Company’s common stock at the market value on the date of conversion. Convertible note payable totaled $82,990 and $95,604 at September 30, 2019 and March 31, 2019, respectively. |
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended |
Sep. 30, 2019 | |
STOCKHOLDERS' EQUITY | |
NOTE 7 - STOCKHOLDERS' EQUITY | 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 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. On July 31, 2018, the Company issued 1,250,000 shares of its common stock for conversion of a note payable. On October 11, 2018, the Company issued 1,250,000 shares of its common stock for conversion of a note payable. In July, 2019, the Company issued 1,414,593 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 September 30, 2019 and March 31, 2019, the Company has accrued a stock payable for shares earned but not issued of $75,000 and $50,000, respectively. The number of shares will be determined based upon market value of the stock at the point in time of issuance. |
COMMITMENTS
COMMITMENTS | 6 Months Ended |
Sep. 30, 2019 | |
COMMITMENTS | |
NOTE 8 - COMMITMENTS | On September 28, 2016, the Company entered into four consulting agreements with consultants to act in the role of Technology Development Manager, Chief Technology Officer, Corporate Development Officer, and Advisory Director and to provide consulting services as part of the Purchase and Sale Agreement with Mistrin. The term of the agreements shall be one year and shall be a rolling contract until terminated or extended. The Company shall issue each consultant a total of 200,000 shares of common stock per annum to a total of 800,000 shares per annum. The consulting agreements can be terminated after 90 days by either party for any reason and the consultant is entitled to receive the entire consideration. The 800,000 shares due under these consulting agreements were issued during the year ended March 31, 2018 and the contracts have been cancelled. The Company has a $54,000 commitment to provide developing and marketing costs related to the acquisition of the Vivio Application. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Sep. 30, 2019 | |
SUBSEQUENT EVENTS | |
NOTE 9 - SUBSEQUENT EVENTS | The Company has evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. The Company has determined that there are no other such events that warrant disclosure or recognition in the financial statements, except as stated herein. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Sep. 30, 2019 | |
SIGNIFICANT ACCOUNTING POLICIES (Policies) | |
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. |
FAIR VALUE MEASUREMENT | Our financial instruments consist principally of accounts payable and accrued liabilities and notes payable. The carrying amounts of such financial instruments in the accompanying financial statements approximate their fair values due to their relatively short-term nature. It is management’s opinion that the Company is not exposed to any significant currency or credit risks arising from these financial instruments. |
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 |
RESEARCH AND DEVELOPMENT COSTS | The Company expenses the cost of research and development as incurred. Research and development costs totaled approximately $0 and $0 for the three months ended September 30, 2019 and September 30, 2018, respectively. |
NET INCOME OR (LOSS) PER SHARE OF COMMON STOCK | The Company has adopted ASC 260 “Earnings per Share,” The Company has no potentially dilutive securities, such as options or warrants, currently issued and outstanding. |
ORGANIZATION (Details Narrative
ORGANIZATION (Details Narrative) | 6 Months Ended |
Sep. 30, 2019 | |
ORGANIZATION (Details Narrative) | |
Date of Incorporation | Dec. 15, 2010 |
State of Incorporation | Nevada |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | ||
Research and development costs | $ 0 | $ 0 |
GOING CONCERN (Details Narrativ
GOING CONCERN (Details Narrative) - USD ($) | Sep. 30, 2019 | Mar. 31, 2019 |
GOING CONCERN (Details Narrative) | ||
Accumulated Deficit | $ (5,026,885) | $ (4,812,849) |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | Oct. 11, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jun. 19, 2018 | Sep. 30, 2019 | Mar. 31, 2019 |
Notes payable balance | $ 135,000 | $ 135,000 | ||||
Debt conversion, converted instrument, amount | $ 5,000 | $ 5,000 | $ 5,000 | |||
Debt conversion, converted instrument, shares issued | 1,250,000 | 1,414,593 | 1,250,000 | 1,250,000 | ||
Vivio App [Member] | ||||||
Notes payable balance | $ 150,000 | |||||
Maturity date | Mar. 18, 2017 |
CONVERTIBLE NOTES PAYABLE (Deta
CONVERTIBLE NOTES PAYABLE (Details Narrative) - USD ($) | Dec. 12, 2018 | Dec. 14, 2017 | Nov. 10, 2017 | Oct. 04, 2017 | Sep. 28, 2018 | Jun. 28, 2018 | Mar. 31, 2018 | Mar. 26, 2018 | Feb. 13, 2018 | Jan. 24, 2018 | Nov. 24, 2017 | Jun. 30, 2019 | Sep. 30, 2019 | Mar. 31, 2019 |
Convertible notes payable | $ 82,990 | $ 95,604 | ||||||||||||
Unsecured convertible loan agreement [Member] | ||||||||||||||
Convertible notes payable | $ 1,000 | $ 13,300 | $ 5,466 | $ 12,500 | $ 15,890 | $ 18,540 | $ 4,974 | $ 2,200 | $ 11,000 | $ 3,000 | $ 1,700 | $ 12,437 | ||
Interest rate | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | ||
Maturity date | Dec. 11, 2019 | Dec. 13, 2018 | Nov. 9, 2018 | Oct. 3, 2018 | Sep. 27, 2019 | Jun. 27, 2019 | Mar. 30, 2019 | Mar. 25, 2019 | Feb. 12, 2019 | Jan. 23, 2019 | Nov. 23, 2018 | Jun. 29, 2020 | ||
Unsecured convertible loan agreement [Member] | July 2019 [Member] | ||||||||||||||
Shares issued | 1,414,593 | 1,414,593 | ||||||||||||
Shares price per share | $ 0.0226 | $ 0.0226 |
STOCKHOLDERS' EQUITY (Details N
STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) | Oct. 11, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jun. 19, 2018 | Apr. 19, 2018 | Sep. 30, 2019 | Mar. 31, 2019 |
Reverse stock split description | 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. | ||||||
Revised shares after reverse stock split | 8,612 | ||||||
Debt conversion, converted instrument, shares issued | 1,250,000 | 1,414,593 | 1,250,000 | 1,250,000 | |||
Stock payable | $ 75,000 | $ 50,000 | |||||
President [Member] | |||||||
Common stock issued for compensation and accrued stock payable | 30,000,000 |
COMMITMENTS (Details Narrative)
COMMITMENTS (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |
Sep. 28, 2016 | Mar. 31, 2018 | Sep. 30, 2019 | |
Term of consulting agreement | 1 year | ||
Common stock, shares issuable under agreement | 800,000 | ||
Common stock, shares cancelled | 800,000 | ||
Terms and conditions of agreement | The consulting agreements can be terminated after 90 days by either party for any reason and the consultant is entitled to receive the entire consideration. | ||
Commitments | $ 54,000 | ||
Technology development manager [Member] | Consulting agreement [Member] | |||
Common stock, shares issuable under agreement | 200,000 | ||
Chief technology officer [Member] | Consulting agreement [Member] | |||
Common stock, shares issuable under agreement | 200,000 | ||
Corporate development officer [Member] | Consulting agreement [Member] | |||
Common stock, shares issuable under agreement | 200,000 | ||
Advisory director [Member] | Consulting agreement [Member] | |||
Common stock, shares issuable under agreement | 200,000 |