UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended June 30, 2010
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the transition period from ____________ to ________________
Commission file number: 333-139669
CYTTA CORP.
(Exact name of Registrant as specified in its charter)
Nevada 98-0505761
(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification No.)
905 Ventura Way, Mill Valley, CA 94941
(Address of principal executive offices)
(415) 860-5192
(Registrant's telephone number, including area code)
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [ ]
Indicate by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (ss.232.405 of
this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files). Yes [ ] No [X]
Indicate by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer," and "smaller
reporting company" in Rule 12b-2 of the Exchange Act (Check one).
Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] Smaller reporting company [X]
(Do not check if a smaller reporting company)
Indicate by check mark whether the Registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]
As of July 27th, 2010, there were 1,014,616,666 shares of the issuer's common
stock, par value $0.00001, outstanding.
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
The accompanying unaudited financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America
and the rules of the Securities and Exchange Commission ("SEC"), and should be
read in conjunction with the audited financial statements and notes thereto
contained in the Company's September 30, 2009 Form 10-K filed with the SEC on
January 13, 2010. In the opinion of management, all adjustments, consisting of
normal recurring adjustments, necessary for a fair presentation of financial
position and the results of operations for the periods presented have been
reflected herein. The results of operations for the periods presented are not
necessarily indicative of the results to be expected for the full year.
2
CYTTA CORP.
(A Development Stage Company)
INTERIM FINANCIAL STATEMENTS
JUNE 30, 2010 and SEPTEMBER 30, 2009
(Unaudited)
Page
----
Balance Sheets as of JUNE 30, 2010 (unaudited) and September 30, 2009 4
Interim Statements of Operations for the three months and nine months
ended June 30, 2010 and 2009 (unaudited) and for the Period from
May 30, 2006 (inception) through June 30, 2010 (unaudited) 5
Interim Statements of Cash Flows for the nine months ended June 30, 2010
and 2009 (unaudited) and for the Period from May 30, 2006 (inception)
through June 30, 2010 (unaudited) 6
Notes to Interim Financial Statements (unaudited) 7
3
Cytta Corp.
(A Development Stage Company)
Balance Sheets
June 30, September 30,
2010 2009
--------- ---------
(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 2,484 $ 136
--------- ---------
OTHER ASSETS
Prepaid fees and services 107,338 --
--------- ---------
Total Other Assets 107,338 --
TOTAL ASSETS $ 109,822 $ 136
========= =========
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 11,318 $ 18,052
Due to shareholder 9,268 --
Due to related party (Note 5) -- 9,388
--------- ---------
TOTAL LIABILITIES 20,586 27,440
--------- ---------
STOCKHOLDERS' DEFICIT
Capital Stock (Note 3)
Authorized:
100,000,000 preferred shares, $0.001 par value
1,900,000,000 common shares, $0.00001 par value
Issued and outstanding shares:
1,014,616,666 common shares 9,586 6,054
Additional paid-in capital 407,854 199,456
56,000,000 common shares pending cancellation 560 560
Deficit accumulated during the development stage (328,764) (233,374)
--------- ---------
Total Stockholders' Deficit 89,236 (27,304)
--------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 109,822 $ 136
========= =========
The accompanying notes are an integral part of these financial statements
4
Cytta Corp..
(A Development Stage Company)
Interim Statements of Operations
(Unaudited)
Cumulative from
Inception
Three Months Ended June 30, Nine Months Ended June 30, (May 30, 2006) to
------------------------------- ------------------------------- June 30,
2010 2009 2010 2009 2010
-------------- ------------ ------------ -------------- -----------
REVENUES $ -- $ -- $ -- $ -- $ --
OPERATING EXPENSES
Professional fees 16,605 9,836 31,927 29,058 111,416
Management fees 45,000 -- 52,662 -- 52,662
General and administrative 8,747 (164,056) 10,420 222,482 47,724
Impairment of licensing agreement -- -- -- -- 116,581
-------------- ------------ ------------ -------------- -----------
Total Operating Expenses 70,352 (154,220) 95,009 251,540 328,383
Other Income (Expense) (234) -- (381) -- (381.00)
Provision for Income Taxes (Note 4) -- -- -- -- --
-------------- ------------ ------------ -------------- -----------
Net Income (Loss) $ (70,586) $ 154,220 $ (95,390) $ (251,540) $ (328,764)
PER SHARE DATA:
Basic and diluted income
(loss) per common share $ (0.00) $ 0.00 $ (0.00) $ (0.00)
-------------- ------------ ------------ --------------
Weighted average number of
common shares outstanding 1,014,616,666 962,343,333 809,044,872 1,108,037,463
-------------- ------------ ------------ --------------
The accompanying notes are an integral part of these financial statements
5
Cytta Corp.
(A Development Stage Company)
Interim Statements of Cash Flows
(Unaudited)
Cumulative from
Inception
Nine Months Ended June 30, (May 30, 2006) to
----------------------------- June 30,
2010 2009 2010
--------- --------- ---------
Cash flows from operating activities:
Net income (loss) $ (95,391) $(251,540) $(332,228)
Adjustments to reconcile net income (loss) to net
cash from operating activities:
Depreciation and amortization -- 395 3,419
Impairment of licensing agreement -- -- 116,581
Issuance of common stock for services and expenses -- -- 70
Expenses paid on Company's behalf by related party 16,092 -- 16,092
Expenses paid on Company's behalf by shareholder 568 -- 568
Changes in Operating Assets and Liabilities:
Accounts payable and accrued laibilities (283) (25) 9,206
Prepaid fees and services 73,662 -- --
--------- --------- ---------
Net cash from operating activities (5,352) (251,170) (186,292)
--------- --------- ---------
Cash flows from financing activities:
Issuance of capital stock -- 209,440 86,000
Capital stock pending cancellation -- 560 --
Advances from shareholder 7,700 -- --
Advances from a related party -- 6,770 21,414
--------- --------- ---------
Net cash from financing activities 7,700 216,770 107,414
--------- --------- ---------
Net change in cash 2,348 (34,400) (78,878)
--------- --------- ---------
Cash at beginning 136 34,536 --
Cash at end $ 2,484 $ 136 $ (78,878)
========= ========= =========
Supplemental Cash Flow Disclosures
Cash paid for Interest $ -- $ -- $ --
========= ========= =========
Cash paid for Income Taxes $ -- $ -- $ --
========= ========= =========
Non-Cash Investing and Financing Activities
Common stock issued for fees and services $ 180,000 $ -- $ 180,000
========= ========= =========
Common stock issued for debt $ 31,930 $ -- $ 31,930
========= ========= =========
Common stock issued for licensing agreement $ -- $ 120,000 $ 120,000
========= ========= =========
The accompanying notes are an intergral part of these financial statements
6
CYTTA CORP.
NOTES TO FINANCIAL STATEMENTS
June 30, 2010 and 2009
NOTE 1 - CONDENSED FINANCIAL STATEMENTS
The accompanying financial statements have been prepared by the Company without
audit. In the opinion of management, all adjustments (which include only normal
recurring adjustments) necessary to present fairly the financial position,
results of operations, and cash flows at June 30, 2010, and for all periods
presented herein, have been made.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with accounting principles generally accepted
in the United States of America have been condensed or omitted. It is suggested
that these condensed financial statements be read in conjunction with the
financial statements and notes thereto included in the Company's September 31,
2009 audited financial statements. The results of operations for the period
ended June 30, 2010 is not necessarily indicative of the operating results for
the full year.
NOTE 2 - GOING CONCERN
The Company's financial statements are prepared using generally accepted
accounting principles in the United States of America 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 ability of the Company to
continue as a going concern is dependent on the Company obtaining adequate
capital to fund operating losses until it becomes profitable. If the Company is
unable to obtain adequate capital, it could be forced to cease operations.
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
equity and/or debt financing. However management cannot provide any assurances
that the Company will be successful in accomplishing any of its plans.
The ability of the Company to continue as a going concern is dependent upon its
ability to successfully accomplish the plans described in the preceding
paragraph and eventually secure other sources of financing and attain profitable
operations. The accompanying financial statements do not include any adjustments
that might be necessary if the Company is unable to continue as a going concern.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
USE OF ESTIMATES
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported amounts of
revenue and expenses during the reporting period. Actual results could differ
from those estimates.
7
CYTTA CORP.
NOTES TO FINANCIAL STATEMENTS
June 30, 2010 and 2009
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
RECENT ACCOUNTING PRONOUNCEMENTS
Below is a listing of the most recent accounting pronouncements issued since the
September 31, 2009 audited financial statements of the Company were released and
through July 28, 2010. The Company has evaluated these pronouncements and does
not expect their adoption to have a material impact on the Company's financial
position, or statements.
* Accounting Standards Update 2010-17 Revenue Recognition- Milestone Method
(Topic 605): Milestone Method of Revenue Recognition - a consensus of the
FASB emerging issues task force. Effective for fiscal years on or after
June 15, 2010.
* Accounting Standards Update 2010-12 Income Taxes (Topic 740): Accounting
for Certain Tax Effects of the 2010 Health Care Reform Acts (SEC Update).
Effective July 1, 2010.
* Accounting Standards Update 2010-11Derivatives and Hedging (Topic 815):
Scope Exception Related to Embedded Credit Derivatives. Effective July 1,
2010.
* Accounting Standards Update 2010-09 Subsequent Events (topic 855):
Amendments to Certain Recognition and Disclosure Requirements. Effective
July 1, 2010.
* Accounting Standards Update 2010-06 Fair Value Measurements and Disclosures
(Topic 820): Improving Disclosures about Fair Value Measurements. Effective
July 1, 2010.
* Accounting Standards Update 2010-05 Compensation-Stock Compensation
(Topic718): Escrowed share arrangements and the Presumption of Compensation
(SEC Update). Effective July 1, 2010.
* Accounting Standards Update 2010-04 (ASU 2010-04), Accounting for Various
Topics-Technical Corrections to SEC Paragraphs. Effective July 1, 2010.
NOTE 3 - RELATED PARTY NOTES PAYABLE
As of June 30, 2010 and September 31, 2009, the Company had borrowed a total of
$-0- and $9,338 from related parties. These notes bear no interest, are
unsecured and are due on demand.
NOTE 4 - DUE TO SHAREHOLDER
As of June 30, 2010 and September 31, 2009 the Company owed a shareholder $9,268
and $-0- on an unsecured note that bears no interest and is due on demand
NOTE 5 - SUBSEQUENT EVENTS
The Company has evaluated subsequent events from the balance sheet date through
the date of this report. There have been no reportable subsequent events.
8
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
FORWARD-LOOKING STATEMENTS
Except for historical information, this report contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such forward-looking
statements involve risks and uncertainties, including, among other things,
statements regarding our business strategy, future revenues and anticipated
costs and expenses. Such forward-looking statements include, among others, those
statements including the words "expects," "anticipates," "intends," "believes"
and similar language. Our actual results may differ significantly from those
projected in the forward-looking statements. Factors that might cause or
contribute to such differences include, but are not limited to, those discussed
herein as well as in the "Description of Business - Risk Factors" section in our
Annual Report on Form 10-K for the year ended September 30, 2009. You should
carefully review the risks described in our Annual Report and in other documents
we file from time to time with the Securities and Exchange Commission. You are
cautioned not to place undue reliance on the forward-looking statements, which
speak only as of the date of this report. We undertake no obligation to publicly
release any revisions to the forward-looking statements or reflect events or
circumstances after the date of this document.
Although we believe that the expectations reflected in these forward-looking
statements are based on reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially from such
forward-looking statements.
All references in this Form 10-Q to the "Company," "Cytta," "we," "us," or "our"
are to Cytta Corp.
RESULTS OF OPERATIONS
We are a development stage corporation. We have generated no revenues from our
business operations since inception (May 30, 2006) and have incurred $328,383 in
expenses through June 30, 2010.
The following table provides selected financial data about our company as of
June 30, 2010 and September 30th, 2009, respectively.
Balance Sheet Data June 30, 2010 September 30, 2009
- ------------------ ------------- ------------------
Cash and cash equivalents $ 2,484 $ 136
Total Assets $109,822 $ 136
Total Liabilities $ 20,586 $ 27,440
Shareholder Equity (Deficit) $ 89,236 $(27,304)
Net cash used by operating activities since inception (May 30, 2006) through
June 30, 2010 was $185,292.
9
PLAN OF OPERATION
On June 18th, 2009, the Company entered into a Licensing Agreement with
Lifespan, Inc. Through a series of transactions and business developments
commencing in 2002, Lifespan had acquired the expertise and licenses to
manufacture, distribute and market various technology-based internet access
products and services, consisting of internet access devices, related software
and hardware and a series of medical peripherals designed and adapted to provide
remote monitoring of patients. The Company has been utilizing the License to
develop a healthcare model for the internet access devices and utilized this
knowledge and expertise in entering into the Value Added Reseller agreement with
MedApps Inc.
On June 12th, 2010, the Company entered into a Value Added Reseller (VAR)
Agreement with MedApps Inc. ("MedApps"). The terms of the agreement provide that
Cytta Corp. will be a non-exclusive value added reseller of MedApps propietary
`Medical Remote Patient Monitoring System' products in California, Nevada, and
Arizona and Canada (excluding Quebec). Additional territories may be negotiated
directly between the parties based upon mutual interest.
The Company will be negotiating cash and share consideration to MedApps based
upon the ultimate product costing structure negotiated between the parties.
Cytta Corp. and its agents will be providing comprehensive systems
implementation and integration of the MedApps proprietary medical monitoring
technology in the Medical Home. Cytta and its agents will be primarily
concentrating on clients consisting of payors and providers, such as: Health
Plans, Managed Care Organizations, Health Delivery Organizations, Medical Groups
and IPAs. Cytta and MedApps are currently working together to develop seamless
integration models designed to meet the needs of particular clients. An
integrated rollout plan will be developed as well as a series of unified
presentations.
The MedApps Remote Patient Monitoring system (further described at
www.medapps.com) supports the desire for simplicity of setup/use - and the power
of medical data management by healthcare providers. There is no need for the
user to1) push ANY buttons, 2) to operate a personal computer, 3) write down
readings or 4) to be tech savvy to obtain their medical records in any way.
MedApps provides solutions to several aspects of healthcare programs involving
the retrieval, logging, analysis, tracking, alerting and report writing of
medical data:
* Near real time customer risk assessment is much easier due to the
efficiency of obtaining medical data electronically. Data is presented in a
timely fashion in an orderly format.
* Risk assessment over time is much easier to monitor due to more useful data
being received with time-stamped trend analysis, threshold setting and
alert notification when critical control limits are violated.
* Reduced risk is realized due to the opportunity for better health care
decisions based on treatment effect adjustments from data trend analysis.
10
This MedApps Remote Patient Monitoring System provides the following key
features:
* The MedApps HealthPAL MA-106 is the data aggregator. This is a
Bluetooth/Cell - enabled medical monitoring device. A USB wire/connector
can be utilized with this device. The device can be charged directly.
* The MedApps HealthHUB MA206 can be added to the configuration for
utilization as a charging port and additional USB connection hub for
medical device connectivity to the HealthPAL interface.
* MedApps' kits are scalable and can be used to support patients with
Diabetes, Hypertension, Congestive Heart Failure, CAD and Chronic
Obstructive Pulmonary Disease in the future by adding the necessary medical
monitoring.
* The MedApps HealthCOM system can be the repository for data to be
integrated into other health record systems, such as NextGen, Microsoft
HealthVault, Google Health, EPIC, SPINN, Allscripts and Eclipsys.
* Customers may choose to provide the approved medical devices and the
personnel for the monitoring service for user interface.
The MedApps' Remote Patient Monitoring system is FDA approved, FCC approved,
ISO13485 certified, AT&T certified, Verizon certified and IEEE1725 certified.
THE MEDAPPS' HEALTHPAL MA106
The MedApps health monitoring system was designed for easy set-up and operation
of the data accumulation (via HealthPAL) segment.
* MedApps focused upon the ease of setting up and operation of their
HealthPAL products.
* The HealthPAL is updated on new firmware revisions in the field using
Firmware Over the Air (FOTA) technology. These updates are performed late
at night / early morning for the given time zone to allow continuous
operation during typical active ("awake") hours. This occurs after
receiving approval from the customer.
* Customer support is provided by MedApps' customer support to troubleshoot
any issues that may arise while operating the HealthPAL/HealthCOM system.
This is especially important during the early deployment / start-up period
with new customers that are not familiar with MedApps products.
11
THE MEDAPPS' HEALTHCOM SYSTEM
The health monitoring system was designed for easy set up and operation of the
data analysis (via HealthCOM) segment. Included in the software designs are
several features that allow customers to:
* Easily set up and change user assignments and details.
* Provide user friendly screens with clear data fields and color - actuated
cells for custom user features.
* Set primary and secondary thresholds for "early warning" and "critical"
alerts.
* Automated alerts to the authorized care provider when critical thresholds
have been violated.
* Create time stamped trend snapshots.
* Generate useful user reports for easy data review.
MEDAPPS SUPPORTS ALL EHR/PHR/EMR SYSTEMS
MedApps supports connectivity to various EHR/PHR/EMR systems and is ready to
support these systems on any of the options available. MedApps can currently
send data to a variety of enterprise level EHRs, for example, EPIC, NextGen,
Allscripts, Microsoft HealthVault and Google Health. MedApps is capable of
sending data to specific EMRs designated by the customer.
PRODUCTS AND SERVICES ARE FULLY SCALABLE AND DESIGNED TO ALLOW RAPID GROWTH
MedApps product assembly, electrical test and functional test processes are
performed in an ISO 13485 and ISO 9001 certified facility in Arizona. All
processes are fully documented and have been audited. The firmware and software
architecture has been specifically designed for scalability to allow additional
server capacity as needed.
PRICING AND DELIVERY
Delivery is currently eight to ten weeks from date of purchase with future lead
times based on forecast inputs. Several innovative pricing models are offered.
Cytta currently has minimal operating costs and expenses at the present time due
to our relatively new business activities. However we anticipate significantly
increasing our activities as a result of the License Agreement and Value Added
Reseller Agreement. We have entered into certain management and consulting
contracts with our senior Officers and non affiliated consultants who will be
12
providing business services to the Company in the health care arena.
Additionally, we will be required to raise significant capital over the next
twelve months, in connection with our operations resulting from our marketing
Agreements. We do not currently engage in any product research and development
however the Company's marketing Agreements may cause us to engage in research
and development in the foreseeable future. We have no present plans to purchase
or sell any plant or significant equipment although we will have to acquire some
equipment related to the marketing Agreements. We also have no immediate plans
to add employees, other than the current management and consultants, although we
may do so in the future as a result of the operations related to the marketing
Agreements.
LIQUIDITY AND CAPITAL RESOURCES
Our cash and cash equivalents balance as of June 30, 2010 was $2,484.
We are a development stage company and currently have limited marketing
operations.
We do not have sufficient funds on hand to pursue our business objectives for
the near future or to commence full scale operations without seeking additional
funding. We currently do not have a specific plan of how we will obtain such
funding.
LOANS TO THE COMPANY
We have been receiving loans from shareholders of the company to pay general
operating costs. As of June 30, 2010, we had $9,268 in loans outstanding.
We have minimal operating costs and expenses at the present time due to our
limited business activities. Currently our operating activities in the
healthcare arena are conducted by our senior Officers and engaged consultants.
We will, however, be required to raise additional capital over the next twelve
months to meet our current administrative expenses and to develop our
operations. This financing may take the form of additional sales of our equity
or debt securities to, or loans from, stockholders, or from our officers and
directors or other individuals. There is no assurance that additional financing
will be available from these or other sources, or, if available, that it will be
on terms favorable to us.
GOING CONCERN
Our auditors have included an explanatory paragraph in their report on our
financial statements relating to the uncertainty of our business as a going
concern, due to our limited operating history, our lack of historical
profitability, and our limited funds. We believe that we will be able to raise
the required funds for operations and to achieve our business plan.
OFF-BALANCE SHEET ARRANGEMENTS
We have never entered into any off-balance sheet financing arrangements and have
not formed any special purpose entities. We have not guaranteed any debt or
commitments of other entities or entered into any options on non-financial
assets.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Not applicable.
13
ITEM 4T. CONTROLS AND PROCEDURES
EVALUATION OF OUR DISCLOSURE CONTROLS
Under the supervision and with the participation of our senior management,
including our chief executive officer and chief financial officer, Stephen
Spalding, we conducted an evaluation of the effectiveness of the design and
operation of our disclosure controls and procedures, as defined in Rules
13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), as of the end of the period covered by this quarterly
report (the "Evaluation Date"). Based on this evaluation, our chief executive
officer and chief financial officer concluded as of the Evaluation Date that our
disclosure controls and procedures were effective such that the information
relating to us, required to be disclosed in our Securities and Exchange
Commission ("SEC") reports (i) is recorded, processed, summarized and reported
within the time periods specified in SEC rules and forms, and (ii) is
accumulated and communicated to our management, including our chief executive
officer and chief financial officer, as appropriate to allow timely decisions
regarding required disclosure.
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There have been no changes in our internal control over financial reporting that
occurred during the quarter ended June 30, 2010 that have materially affected or
are reasonably likely to materially affect our internal control over financial
reporting.
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
In the ordinary course of our business, we may from time to time become subject
to routine litigation or administrative proceedings which are incidental to our
business. We are not a party to nor are we aware of any existing, pending or
threatened lawsuits or other legal actions involving us.
ITEM 1A. RISK FACTORS
Not applicable.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
ITEM 5. OTHER INFORMATION
On June 12th, 2010, the Company entered into a Value Added Reseller (VAR)
Agreement with MedApps Inc. ("MedApps") attached hereto as an Exhibit 10. The
terms of the agreement provide that Cytta Corp. will be a non-exclusive value
added reseller of MedApps `Medical Remote Patient Monitoring System' products in
California, Nevada, and Arizona and Canada (excluding Quebec). Details of the
MedApps proprietary `Medical Remote Patient Monitoring System' are described in
ITEM 2 Plan of Operation and at www.medapps.com.
14
ITEM 6. EXHIBITS
The following exhibits are included as part of this report:
Exhibit No. Description
- ----------- -----------
10 MedApps/ Cytta VAR Agreement dated June 12th, 2010
31.1 / 31.2 Rule 13(a)-14(a)/15(d)-14(a) Certification of Principal
Executive and Financial Officer
32.1 / 32.2 Rule 1350 Certification of Principal Executive and Financial
Officer
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CYTTA CORP.
Dated: June 27th, 2010
By: /s/ Stephen Spalding
----------------------------------------------
Stephen Spalding
CEO, Principal Executive and Financial Officer