Cyber App Solutions (CYRB) 10-Q 6 Jan 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Nov. 30, 2022	Jan. 05, 2023
Cover [Abstract]
Entity Registrant Name	CYBER APP SOLUTIONS CORP.
Entity Central Index Key	0001851048
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--02-28
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Nov. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		4,010,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-254676
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	98-1585090
Entity Address Address Line 1	485-3
Entity Address Address Line 2	Apt. 201 Yeonsu-dong Yeonsu-gu
Entity Address City Or Town	Incheon
Entity Address Country	KR
Entity Address Postal Zip Code	21912
City Area Code	725
Local Phone Number	231-1001
Entity Interactive Data Current	Yes

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Nov. 30, 2022	Feb. 28, 2022
Current Assets
Cash and cash equivalents	$ 12,888	$ 27,061
Prepaid expenses	500	0
Total current assets	13,388	27,061
Fixed assets, net	3,730	5,459
TOTAL ASSETS	17,118	32,520
Current Liabilities
Advances from related party	12,162	11,237
Total current liabilities	12,162	11,237
Total Liabilities	12,162	11,237
Stockholders' Equity
Common stock, $0.001 par value, 75,000,000 shares authorized;4,010,000 shares issued and outstanding	4,010	4,010
Additional paid-in-capital	29,290	29,290
Accumulated deficit	(28,344)	(12,017)
Total Stockholders' Equity	4,956	21,283
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 17,118	$ 32,520

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Nov. 30, 2022	Feb. 28, 2022
BALANCE SHEETS
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	4,010,000	4,010,000
Common stock, shares outstanding	4,010,000	4,010,000

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
STATEMENTS OF OPERATIONS (Unaudited)
Revenue	$ 0	$ 600	$ 0	$ 9,100
OPERATING EXPENSES
Professional fees	2,500	7,000	12,925	11,050
General and administrative expenses	1,200	2,105	3,403	3,594
Total operating expenses	3,700	9,105	16,328	14,644
Loss before income taxes	(3,700)	(8,505)	(16,328)	(5,544)
Provision for income taxes	0	0	0	0
Net loss	$ (3,700)	$ (8,505)	$ (16,328)	$ (5,544)
Income (loss) per common share: Basic and Diluted	$ 0	$ 0	$ 0	$ 0
Weighted Average Number of Common Shares Outstanding: Basic and Diluted	4,010,000	4,010,000	4,010,000	3,442,290

STATEMENT OF CHANGES IN STOCKHO

STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT) (Unaudited) - USD ($)	Total	Common Stock	Common Stock Subscribed	Additional Paid-in Capital	Accumulated Deficit
Balance, shares at Feb. 28, 2021		3,000,000
Balance, amount at Feb. 28, 2021	$ (3,356)	$ 3,000	$ (3,000)	$ 0	$ (3,356)
Net income	2,900	0	0	0	2,900
Common stock issued	3,000	$ 0	3,000	0	0
Balance, shares at May. 31, 2021		3,000,000
Balance, amount at May. 31, 2021	2,544	$ 3,000	0	0	(456)
Balance, shares at Feb. 28, 2021		3,000,000
Balance, amount at Feb. 28, 2021	(3,356)	$ 3,000	(3,000)	0	(3,356)
Net income	(5,544)
Balance, shares at Nov. 30, 2021		4,010,000
Balance, amount at Nov. 30, 2021	24,400	$ 4,010	0	29,290	(8,900)
Balance, shares at May. 31, 2021		3,000,000
Balance, amount at May. 31, 2021	2,544	$ 3,000	0	0	(456)
Net income	61	$ 0	0	0	61
Common stock issued, shares		1,010,000
Common stock issued, amount	30,300	$ 1,010	0	29,290	0
Balance, shares at Aug. 31, 2021		4,010,000
Balance, amount at Aug. 31, 2021	32,905	$ 4,010	0	29,290	(395)
Net income	(8,505)	$ 0	0	0	(8,505)
Balance, shares at Nov. 30, 2021		4,010,000
Balance, amount at Nov. 30, 2021	24,400	$ 4,010	0	29,290	(8,900)
Balance, shares at Feb. 28, 2022		4,010,000
Balance, amount at Feb. 28, 2022	21,283	$ 4,010	0	29,290	(12,017)
Net income	(9,042)	$ 0	0	0	(9,042)
Balance, shares at May. 31, 2022		4,010,000
Balance, amount at May. 31, 2022	12,241	$ 4,010	0	29,290	(21,059)
Balance, shares at Feb. 28, 2022		4,010,000
Balance, amount at Feb. 28, 2022	21,283	$ 4,010	0	29,290	(12,017)
Net income	(16,328)
Balance, shares at Nov. 30, 2022		4,010,000
Balance, amount at Nov. 30, 2022	4,956	$ 4,010	0	29,290	(28,344)
Balance, shares at May. 31, 2022		4,010,000
Balance, amount at May. 31, 2022	12,241	$ 4,010	0	29,290	(21,059)
Net income	(3,585)	$ 0	0	0	(3,585)
Balance, shares at Aug. 31, 2022		4,010,000
Balance, amount at Aug. 31, 2022	8,656	$ 4,010	0	29,290	(24,644)
Net income	(3,700)	$ 0	0	0	(3,700)
Balance, shares at Nov. 30, 2022		4,010,000
Balance, amount at Nov. 30, 2022	$ 4,956	$ 4,010	$ 0	$ 29,290	$ (28,344)

STATEMENT OF CASH FLOWS (Unaudi

STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (16,328)	$ (5,544)
Adjustments to reconcile net loss to net cash from operating activities:
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities	1,730	884
Changes in operating assets and liabilities:
Prepaid expenses	(500)	0
Accounts payable	0	(2,500)
Net cash used in operating activities	(15,098)	(7,160)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets	0	(6,920)
Net cash used in investing activities	0	(6,920)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party	925	9,731
Proceeds from Common stock	0	33,300
Net cash provided by financing activities	925	43,031
Change in cash and equivalents	(14,173)	28,951
Cash and equivalents at beginning of the period	27,061	0
Cash and equivalents at end of the period	12,888	28,951
Cash paid for:
Interest	0	0
Taxes	$ 0	$ 0

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	9 Months Ended
	Nov. 30, 2022
ORGANIZATION AND BUSINESS
ORGANIZATION AND BUSINESS	NOTE 1 – ORGANIZATION AND BUSINESS CYBER APP SOLUTIONS CORP. (the “Company”) is a corporation established under the corporation laws in the State of Nevada on February 19, 2021. Cyber App Solutions Corp. is in the mobile application development businesses. The Company has adopted a February 28 fiscal year end.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Nov. 30, 2022
GOING CONCERN
GOING CONCERN	NOTE 2 – GOING CONCERN The Company’s financial statements as of November 30, 2022 have been prepared using generally accepted accounting principles in the United States of America (“GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The Company has accumulated losses from inception (February 19, 2021) to November 30, 2022 of $28,344. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking third party equity and/or debt financing. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. These financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Nov. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with GAAP. New Accounting Pronouncements There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on the Company’s financial position, operations or cash flows. Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. Fixed assets Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs, if capitalization criteria are met and directly attributable to the cost of bringing the asset to its working condition for the intended use. Any subsidy/reimbursement/contribution received for installation and acquisition of any fixed assets is shown as a deduction in the year of receipt. Capital work- in progress is stated at cost. Subsequent expenditure related to an item of fixed assets is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing fixed assets, including day-to-day repairs and maintenance expenditure and cost of replacing parts, are charged to the statements of operations for the period during which such expenses are incurred. Gains or losses arising from de-recognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying amount of the assets derecognized. Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP 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 amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern. Fair Value of Financial Instruments Accounting Standards Codification (“ASC”) 825, “ Disclosures about Fair Value of Financial Instruments Fair Value Measurements” The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include advances from related party. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value. Income Taxes Income taxes are provided in accordance with ASC 740, “ Accounting for Income Taxes Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, “ Revenue from Contracts with Customers”, Revenue is recognized when the following criteria are met: - Identification of the contract, or contracts, with the customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, the performance obligation is satisfied. The Company’s main revenue stream is from product sales and has no performance obligations for which they serve as agent. The performance obligation associated with a typical product sale will be satisfied upon delivery to customers, and the revenue will be recognized at that time. Payments are due on demand and the Company does not offer any warranty on its products. Earnings per Share The Company adheres to the provision of ASC 260, “ Earnings Per Share Basic net income per share amounts are computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

FIXED ASSETS NET

FIXED ASSETS NET	9 Months Ended
	Nov. 30, 2022
FIXED ASSETS NET
FIXED ASSETS, NET	NOTE 4 – FIXED ASSETS, NET Fixed assets at November 30, 2022 and February 28, 2022, are summarized as follows: Estimated Useful Life (In years) November 30, 2022 February 28, 2022 Software Application 3 $ 3,230 $ 3,230 Website 3 3,000 3,000 Computer 3 690 690 6,920 6,920 Less: Accumulated depreciation (3,190 ) (1,461 ) $ 3,730 $ 5,459 For the three-month and nine-month periods ended November 30, 2022, depreciation expenses were $634 and $1,730 respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Nov. 30, 2022
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS In support of the Company’s efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by officers, directors, or shareholders. Amounts represent advances or amounts paid in satisfaction of liabilities. The advances are considered temporary in nature and have not been formalized by a promissory note. Since February 19, 2021 (Inception) through November 30, 2022, the Company’s sole officer and director loaned the Company $12,162 to pay for general and administrative costs. As of November 30, 2022 and February 28, 2022, the amount outstanding was $12,162 and $11,237, respectively. The loan is non-interest bearing, due upon demand and unsecured.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Nov. 30, 2022
Commitments and contingencies (Note 6)
COMMITMENTS AND CONTINGENCIES	NOTE 6 - COMMITMENTS AND CONTINGENCIES As of the date of this Quarterly Report, the Company does not have any material commitments. As of November 30, 2022, the Company is not aware of any contingent liabilities that should be reflected in the financial statements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Nov. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 7 - SUBSEQUENT EVENTS The Company has evaluated subsequent events from November 30, 2022 to the date the financial statements were issued and has determined that there are no items to disclose.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Nov. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The financial statements of the Company have been prepared in accordance with GAAP.
New Accounting Pronouncements	There were various accounting standards and interpretations issued recently, none of which are expected to have a material impact on the Company’s financial position, operations or cash flows.
Cash and Cash Equivalents	For purposes of the statements of cash flows, the Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents.
Fixed assets	Fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs, if capitalization criteria are met and directly attributable to the cost of bringing the asset to its working condition for the intended use. Any subsidy/reimbursement/contribution received for installation and acquisition of any fixed assets is shown as a deduction in the year of receipt. Capital work- in progress is stated at cost. Subsequent expenditure related to an item of fixed assets is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing fixed assets, including day-to-day repairs and maintenance expenditure and cost of replacing parts, are charged to the statements of operations for the period during which such expenses are incurred. Gains or losses arising from de-recognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying amount of the assets derecognized.
Use of Estimates and Assumptions	The preparation of financial statements in conformity with GAAP 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 amounts of revenues and expenses during the period. Actual results could differ from those estimates. Due to the limited level of operations, the Company has not had to make material assumptions or estimates other than the assumption that the Company is a going concern.
Fair Value of Financial Instruments	Accounting Standards Codification (“ASC”) 825, “ Disclosures about Fair Value of Financial Instruments Fair Value Measurements” The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include advances from related party. Fair values were assumed to approximate carrying values for these financial instruments since they are short term in nature and their carrying amounts approximate fair value.
Income Taxes	Income taxes are provided in accordance with ASC 740, “ Accounting for Income Taxes Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Revenue Recognition	The Company recognizes revenue in accordance with ASC Topic 606, “ Revenue from Contracts with Customers”, Revenue is recognized when the following criteria are met: - Identification of the contract, or contracts, with the customer; - Identification of the performance obligations in the contract; - Determination of the transaction price; - Allocation of the transaction price to the performance obligations in the contract; and - Recognition of revenue when, or as, the performance obligation is satisfied. The Company’s main revenue stream is from product sales and has no performance obligations for which they serve as agent. The performance obligation associated with a typical product sale will be satisfied upon delivery to customers, and the revenue will be recognized at that time. Payments are due on demand and the Company does not offer any warranty on its products.
Earnings per Share	The Company adheres to the provision of ASC 260, “ Earnings Per Share Basic net income per share amounts are computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

FIXED ASSETS NET (Tables)

FIXED ASSETS NET (Tables)	9 Months Ended
	Nov. 30, 2022
FIXED ASSETS NET
Summary of fixed assets	Estimated Useful Life (In years) November 30, 2022 February 28, 2022 Software Application 3 $ 3,230 $ 3,230 Website 3 3,000 3,000 Computer 3 690 690 6,920 6,920 Less: Accumulated depreciation (3,190 ) (1,461 ) $ 3,730 $ 5,459

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Nov. 30, 2022	Feb. 28, 2022
GOING CONCERN
Accumulated deficit	$ (28,344)	$ (12,017)

FIXED ASSETS NET (Details)

FIXED ASSETS NET (Details) - USD ($)	9 Months Ended
	Nov. 30, 2022	Feb. 28, 2022
Fixed asstes, gross	$ 6,920	$ 6,920
Less: Accumulated depreciation	(3,190)	(1,461)
Fixed Assets, Net	3,730	5,459
Software Application [Member]
Fixed asstes, gross	$ 3,230	3,230
Estimated Useful Life	3 years
Website [Member]
Fixed asstes, gross	$ 3,000	3,000
Estimated Useful Life	3 years
Computer [Member]
Fixed asstes, gross	$ 690	$ 690
Estimated Useful Life	3 years

FIXED ASSETS NET (Details Narra

FIXED ASSETS NET (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Nov. 30, 2022	Nov. 30, 2022
FIXED ASSETS NET (Details Narrative)
Depreciation expense	$ 634	$ 1,730

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	9 Months Ended
	Nov. 30, 2022	Feb. 28, 2022
RELATED PARTY TRANSACTIONS
Advances from related party	$ 12,162	$ 11,237
General and administrative costs	$ 12,162