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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
SCHEDULE 14C INFORMATION
INFORMATION STATEMENT PURSUANT TO SECTION 14(C) OF THE SECURITIES EXCHANGE ACT OF 1934
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[ ] . Preliminary Information Statement
[ ] . Confidential, for use of the Commission only (as permitted by Rule 14c-5(d)(2))
[X] . Definitive Information Statement
Cyber Apps World Inc.
(Name of Registrant As Specified In Charter)
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[ ] . Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11.
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|4)||Proposed maximum aggregate value of transaction:|
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[ ] . Fee paid previously with preliminary materials.
[ ] . Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
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THIS INFORMATION STATEMENT IS BEING PROVIDED TO
YOU BY THE BOARD OF DIRECTORS OF CYBER APPS WORLD INC.
WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE
REQUESTED NOT TO SEND US A PROXY
Cyber Apps World Inc.
N. Nellis Blvd., Suite A3-146 Las Vegas, Nevada 89110
March 19, 2019
NOTICE OF STOCKHOLDER ACTION BY WRITTEN CONSENT
To the Holders of Common Stock of Cyber Apps World Inc.:
This Information Statement has been filed with the Securities and Exchange Commission and is being furnished, pursuant to Section 14C of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), to the holders (the “ Stockholders ”) of common stock, par value $0.001 per share (the “common stock”), of Cyber Apps World Inc., a Nevada corporation (the “ Company ”), to notify the Stockholders that on February 27, 2019, the Company received an unanimous written consent from the holder of a majority of the shares of common stock outstanding (the “majority stockholder”). The majority stockholder authorized the following amendment (the “Amendment”) to our Certificate of Incorporation: the increase in the number of authorized shares of common stock from one million one hundred eleven thousand one hundred eleven (1,111,111) shares of common stock, par value $.001 per share, to two hundred fifty million (250,000,000) shares of common stock, par value $.001 per share (the “Authorized Share Increase”). The Company currently has no commitments for the issuance of any shares of common stock or preferred stock, other than as provided for in existing agreements and instruments to which it is a party.
On February 27, 2019, the Board of Directors of the Company (“Board”) approved the Authorized Share Increase and recommended approval thereof to the majority stockholder. On February 27, 2019, the majority stockholder approved the Authorized Share Increase by written consent in lieu of a meeting in accordance with Nevada Private Corporations Law (“Nevada Private Corporations Law”). Accordingly, your consent is not required and is not being solicited in connection with the approval of the Authorized Share Increase.
The proposed Certificate of Amendment, attached hereto as Exhibit A, will become effective when it has been accepted for filing by the Secretary of State of the State of Nevada. We anticipate that our Company will file the Certificate of Amendment 20 days after the Definitive Information Statement is first mailed to our stockholders.
The entire cost of furnishing this Information Statement will be borne by our Company. We will request brokerage houses, nominees, custodians, fiduciaries and other like parties to forward this Information Statement to the beneficial owners of our Common Stock held on the record date.
Our board of directors has fixed the close of business on Friday, March 15, 2019, as the record date for determining the holders of our Common Stock who are entitled to receive this Information Statement. As of March 15, 2019, there were 1,100,468 shares of our Common Stock issued and outstanding. We anticipate that this Information Statement will be mailed on or about March 19, 2019, to our stockholders of record.
PLEASE NOTE THAT THIS IS NOT A REQUEST FOR YOUR VOTE OR A PROXY, BUT RATHER AN INFORMATION STATEMENT DESIGNED TO INFORM YOU OF THE AMENDMENT TO OUR CERTIFICATE OF INCORPORATION.
Section 320 of the Nevada Private Corporations Law provides that any action required or permitted to be taken at a meeting of the stockholders may be taken without a meeting if, before or after the action, a written consent thereto is signed by stockholders holding at least a majority of the voting power, except that if a different proportion of voting power is required for such an action at a meeting, then that proportion of written consents is required. The Authorized Share Increase would be effected by an amendment to our Articles of Incorporation, which would require a vote by the majority in interest of the holders of our common stock under Section 390 of the Nevada Private Corporations Law.
This Information Statement contains a brief summary of the material aspects of the Authorized Share Increase approved by the Board of the Company and the holder of 560,000 shares of common stock, who holds a majority of the voting capital stock of the Company.
The Authorized Share Increase will become effective on the date that we file the Certificate of Amendment for that amendment to the Company’s Certificate of Incorporation with the Secretary of State of the State of Nevada. We intend to file the Amendment for the Authorized Share Increase with the Secretary of State of the State of Nevada promptly after the twentieth (20th) day following the date on which the Definitive Information Statement is mailed to the Stockholders.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The following table sets forth information regarding the beneficial ownership of the Company’s common stock as of February 27, 2019, for:
i. each person or entity who, to our knowledge, beneficially owns more than 5% of each class or series of our outstanding stock; ii. each executive officer and named officer; iii. each director; and iv. all of our officers and directors as a group.
Except as indicated in the footnotes to the following table, the persons named in the table has sole voting and investment power with respect to all shares of common stock beneficially owned.
Name and Address of Beneficial Owner Amount and Nature of Beneficial Ownership Percentage of Class (1)
|Kat Consulting Corp.||560,000 (2)||50.89||%|
|18124 Wedge Parkway, Suite 1050|
Reno, NV 89110
|(1)||Based on 1,100,468 shares of common stock issued and outstanding as of February 27, 2019.|
|(2)||Kateryna Malenko, a director and the Secretary of the Company, is the 100% owner of and controls Kat Consulting Corp.|
|(3)||Lyudmyla Voynarovska is a director, and the Chief Executive Officer and CEO, of the Company.|
INCREASE IN THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK
The number of authorized shares of our common stock will be increased from one million one hundred eleven thousand one hundred eleven (1,111,111) shares to two hundred fifty million (250,000,000) shares of common stock, par value $.001 per share.
PURPOSE AND EFFECT OF INCREASING THE NUMBER OF AUTHORIZED SHARES
The Board believes the Authorized Share Increase is necessary and advisable in order to maintain our capital raising ability and generally to maintain our flexibility in today’s competitive and rapidly changing environment. Effective February 19, 2019, our authorized and issued shares of common stock were subject to a 1:45 reverse split, pursuant to a Certificate of Change filed with the Nevada Secretary of State on February 1, 2019, that resulted in reduction of the Company’s number of authorized shares of common stock from 50,000,000 shares to 1,111,111 shares. A total of 1,100,468 shares of common stock were outstanding following the reverse split. The additional 248,888,889 shares of unissued common stock resulting from the Authorized Share Increase will be available for issuance by the Board for stock splits or stock dividends, acquisitions, raising additional capital, stock options or other corporate purposes. The additional shares of common stock could be used for, among other things, technology acquisitions, strategic partnerships, business combinations and investments, although there are no immediate plans to do so. Assurances cannot be provided that any such transactions will be consummated on favorable terms or at all, that they will enhance stockholder value or that they will not adversely affect the Company’s business or the trading price of the common stock. The Board has no current plans to issue any of the additional shares of common stock that would be authorized by this proposal. The Company does not anticipate that it would seek authorization from the stockholders for issuance of such additional shares unless required by applicable law or regulations.
The increase in the authorized number of shares of common stock and any subsequent issuance of such shares could have the effect of delaying or preventing a change in control of the Company without further action by the stockholders. Shares of authorized and unissued common stock could (within the limits imposed by applicable law and stock exchange regulations) be issued in one or more transactions which would make a change in control of the Company more difficult, and therefore less likely. Any such issuance of the additional shares of common stock could have the effect of diluting the earnings per share and book value per share of outstanding shares of common stock, and such additional shares could be used to dilute the stock ownership or voting rights of a person seeking to obtain control of the Company. The Board is not aware of any attempt to take control of the Company and has not presented this proposal with the intention that the increase in the number of authorized shares of Common stock be used as a type of antitakeover device. Any additional common stock, when issued, would have the same rights and preferences as the shares of common stock presently outstanding.
The Company's authority to issue up to 10,000,000 shares of Preferred Stock, par value $.001 per share, would remain unchanged by the Amendment providing for the Authorized Share Increase. Annexed to this Information Statement and marked Exhibit A is the proposed Amendment to the Articles of Incorporation of the Company.
No Appraisal Rights
Under the Nevada Private Corporations Law, stockholders are not entitled to appraisal rights with respect to the Authorized Share Increase, and the Company will not independently provide stockholders with any such right.
We are subject to the disclosure requirements of the Securities Exchange Act of 1934, as amended, and in accordance therewith, file reports, information statements and other information, including annual and quarterly reports on Form 10-K and 10-Q, respectively, with the Securities and Exchange Commission (the “ SEC ”). Reports and other information filed by the Company can be inspected and copied at the public reference facilities maintained by the SEC at Room 1024, 450 Fifth Street, N.W., Washington, DC 20549. Copies of such material can also be obtained upon written request addressed to the SEC, Public Reference Section, 450 Fifth Street, N.W., Washington, D.C. 20549 at prescribed rates. In addition, the SEC maintains a web site on the Internet (http://www.sec.gov) that contains reports, information statements and other information regarding issuers that file electronically with the SEC through the Electronic Data Gathering, Analysis and Retrieval System.
This Information Statement is provided to the holders of common stock of the Company only for information purposes in connection with the Authorized Share Increase, pursuant to and in accordance with Rule 14c-2 of the Exchange Act. Please carefully read this Information Statement.
By Order of the Board of Directors
/s/ Liudmila Voinarvoska
Name: Liudmila Voinarovska
Title: Chief Executive Officer
Dated: March 19, 2019
CERTIFICATE OF AMENDMENT TO ARTICLES OF INCORPORATION
FOR NEVADA PROFIT CORPORATIONS
(Pursuant to NRS 78.385 and 78.390 – After issuance of Stock)
|1.||Name of corporation: Cyber Apps World Inc.|
|2.||The articles have been amended as follows: Section 4.01. Article IV, of the Articles of Incorporation is deleted in its entirety and thefollowing is substituted therefor:|
“Section 4.01. The corporation shall have authority to issue a total of Two Hundred Sixty Million (260,000,000) shares, of which Two
Hundred Fifty Million (250,000,000) shares shall be Common Stock, par value $.001 per share (the "Common Stock"), and Ten Million (10,000,000) shares shall be Preferred Stock, par value $.001 per share (the "Preferred Stock").”
|3.||The vote by which the stockholders holding shares in the corporation entitling them to exercise at least a majority of the votingpower, or such greater proportion of the voting power as may be required in the case of a vote by classes or series, or as may be required by the provisions of the articles of incorporation have voted in favor of the amendment is: a majority.|
4. Officer Signature: ________________________________________________________
Lyudmila Voinarovska, President and Chief Executive Officer
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
Notice of Exempt Offering of Securities, item 06b - May 29, 2019