Internet Marketing

CYBER APPS WORLD Management’s Discussion and Analysis of Financial Conditions and Results of Operations. (form 10-Q)

IceCure Medical : Notice of Meeting, Proxy Statement and Proxy Card for the Annual and Special General Meeting of Shareholders to be held on Thursday, March 3, 2022 - Form 6-K
Written by publisher team

Forward Looking Statements

This quarterly report contains forward-looking statements that involve risks and uncertainties. We use words such as anticipate, believe, plan, expect, future, intend and similar expressions to identify such forward-looking statements. You should not place too much reliance on these forward-looking statements. Our actual results are likely to differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us described in this section.



Background


We were incorporated on July 15, 2002 under the laws of the State of Nevada
under the name Titan Web Solutions, Inc. with a view to offering a full range of business consulting services in the retail specialty coffee industry in China.

On April 9, 2015 we merged with our wholly-owned subsidiary Cyber ​​Apps World Inc. and concurrently changed our name to Cyber ​​Apps World Inc. Our business focused on the development of mobile applications focusing on allowing users around the world to save money on products and services from member merchants and suppliers instantly with mobile coupons, using their desktops and/or mobile devices, including smartphones.

We are the acquisition of a website originally located at www.savinstultra.com and now to be located at www.smartsavenow.com (the “Website”), including, without limitation, the website domain, content, data, and all incorporated technology on April 19, 2019. We acquired a 100% undivided interest in and to the Website in consideration of us issuing 11,500,000 shares of our common stock to the vendor at closing.

The Website consists of a search engine that users access in order to compare the prices of different consumer products, which is known as a price comparison website. The initial version of the website is published and is undergoing further development. It currently features consumer items in various product categories, such as electronics, computers, cellular phones, office equipment, clothing, books, toys, and jewelry. As well, the Website includes a search function that allows users to input key words and receive a list of available consumer items that include those words. The Website was developed in Ukraine
and India.

We intend to further develop the Website to specifically market to American consumers by providing real-time pricing for items that major US retailers, including Wal-Mart, Best Buy, EBay, and Target, publish on their company websites. The Website will show products available at the lowest price among all sellers and incorporate this automatically into its digital marketing advertising. In order to access the content of the Website, consumers must register and establish an account with us and provide us with contact information, including a name, email address, and telephone number. Account holders who consent to the receipt of electronic correspondence from us will receive periodic emails from us that highlight sales items for specific consumer products that reflect their website search interests.

During initial development, the vendor of the Website is able to offer products from 86 existing sellers and has agreements with an additional 420 sellers. As with other price comparison websites, we will not charge users anything to use the Website. We intend to generate revenue by securing commission payments from retailers and other sellers. These payments will vary from seller to seller, but will either consist of a fee for each time one of our users accesses a retail website through our website, a fee for each time one of our users buys an item from a retailer or register with their website, or a flat fee for inclusion on our website. Each fee arrangement with a retailer will be negotiated separately. Since our acquisition of the Website and related technology, we have retained software developers in India that have continued development of the Website for commercial deployment.




Privacy and Value Software

On March 15, 2021, we entered into an agreement to acquire employee monitoring software known as “Privacy and Value”. The software product attempts to balance employer concerns regarding employee efficiency and productivity with employee privacy.



                                       9




As companies are attempting to meet the demands of employees that want work environment flexibility and are forced to avoid employee congregation in response to the current global Covid-19 pandemic, they are retaining staff that either work from home or they rely on outsourcing to retain employees and independent contractors in other countries. One of the primary concerns with having staff work in a separate location that removes them from the daily, direct oversight of management is that employee productivity will suffer. One of the responses to this concern is for businesses to use some form of worker surveillance in order to ensure that employees are utilizing their work time efficiency. However, businesses may face pushback from their staff due to concerns that their personal privacy is compromised when they are subject to constant monitoring during work hours. They may resist practices such as webcam surveillance or persistent computer screen observation.

To address employer concerns regarding staff efficiency and employee concerns regarding privacy, we intend to market and sell the privacy and value software that has features to monitor worker computer productivity while providing employees with reasonable privacy during their work days. The features of the software are as follows:

• the software will monitor the employees’ computer desktops while they are actually working on the system. Surveillance will commence when an employee logs on to his or her computer through our software and will continue until the employee logs out of the system. After an employee signs out of the software, recording and monitoring will cease and the employee can access his or her computer contents and the Internet for personal purposes;

• When the employee is logged in, the software will allow management to maintain real-time access to employee activity and to view each employee’s desktop screen content and the keystrokes that the employee is typing. All of this information will also be recorded and stored for future management use with all information time stamped. The file name for each day’s recording will be the employee’s first name, last name, and the year, month, and day, which will allow a manager to identify the appropriate recording without difficulty; and

• based on employee actions, the software will calculate the amount of time that the employee was logged into the system based on a searchable time period (eg, a shift, a week, or a month). It will also indicate the length of various time periods during which the employee did not make any keystrokes on his or her computer and allow the manager to quickly access the recording of employee’s desktop at the times when keystrokes commenced and stopped. The software will also provide details of the length of each break that the employee takes during the work period analyzed. It will also have tools that the manager can use, in tabular and graphic form, to compare the efficiency of employees in terms of keystrokes and time logged in to their computer.

In consideration of the vendor selling the Privacy and Value software to us, we agreed to:

(a) pay $10,000 to the vendor upon execution of the agreement; and

(b) pay, by June 15, 2021an amount equal to the estimation of value of a 50% interest in the Software and the related data and databases based on an independent business valuation completed by a valuator who is accredited by the
American Society of Appraisers and acceptable to both parties less the $10,000
cash payment noted above. Notwithstanding the valuation’s estimation of value of the software, the amount of the additional payment shall not be less than
$50,000 and shall not exceed $250,000. We obtained an independent business valuation on the Software in June 2021which indicated that we would have to pay $250,000 to complete the acquisition of a 50% interest in the Software.

We did not make the payment due on June 15, 2021 and are attempting to renegotiate the terms of the acquisition.

Friendly and Fast Delivery Service

We are currently developing a delivery computer application known as Friendly and Fast. The application is being designed to allow users to order food, groceries, and other courier services.

Friendly and Fast will target both individuals and corporate customer segments. For corporate clients, this feature will give discounts to restaurant owners, grocery stores, couriers, and similar enterprises so they can affordably provide deliveries to their customers. We are currently organizing beta testing of the application in Ahmedabad, India and have commissioned a private company to be primarily responsible for the completion of the application development.



                                       10




Results of Operations for the three and six months Ended January 31, 2022

Our net loss for the three and six-month periods ended January 31, 2022 were
$65,871 and $115,872respectively (January 31, 2021$85,271 and $541,869), which consisted entirely of general and administrative fees. We have not generated significant revenue during this period. The net loss in the current fiscal year is substantially lower than our net loss in the comparative period in fiscal 2021 due to a decrease in software development costs.

LIQUIDITY AND CAPITAL RESOURCES

As of January 31, 2022our current assets were $34,772 compared to $112,834 on
July 31, 2021. The decrease in current assets is attributable to a decrease in cash from proceeds of share issuances during the period as compared to the prior fiscal year.

As of January 31, 2022our liabilities were $541,729 compared to $748,618 on
July 31, 2021. The decrease in liabilities is attributable to a reduction in our both our accounts payable and convertible note payables from conversions in the period.

We expect we will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities.

Cash Flows from Operating Activities

We have not generated positive cash flows from operating activities. For the six-month period ended January 31, 2022net cash flows used in operating activities were $120,064 consisting of a net loss of $115,872which was offset by reduction in accounts payable and accrued liabilities of $39,192 and deposits and prepayments of $35,000.

Cash Flows from Investing Activities

For the six-month period ended January 31, 2022net cash flows used in investing activities were $70,866 consisting entirely of software development costs incurred in the period.

Cash Flows from Financing Activities

We have financed our operations primarily from either the issuance of our shares of common stock or from loans. Net cash flows generated from financing activities were $147,868 in the six-month period ended January 31, 2022which consisted of $221,100 from our sale of common stock, which was offset by a change in convertible notes payable of $120,750a change in loans payable of
$43,482and a share subscription advance of $91,000.

OFF-BALANCE SHEET ARRANGEMENTS

As of the date of this report, we do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in condition, revenues or expenses, financial results of operations, liquidity , capital expenditures or capital resources that are material to investors.



GOING CONCERN


The independent auditors’ report accompanying our July 31, 2021 financial statements contained an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. The financial statements have been prepared “assuming that we will continue as a going concern,” which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary course of business.




                                       11

© Edgar Online, source Glimpses

.

About the author

publisher team