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.





Description of Business


We were incorporated on November 18, 2020 under the laws of the State of Wyoming.

We intend to complete the development of and operate a ride-hailing and food delivery computer and mobile device application known as "WarpSpeedTaxi". A ride-hailing service, also known as app-taxi, e-taxi, or a mobility service provider, is a service that, via websites and mobile apps, matches passengers with drivers of vehicles for hire that are not licensed taxi drivers. The computer application that we are developing is intended to provide travelers with convenient door-to-door transport that leverages smart mobility platforms to connect drivers with passengers and lets drivers use their personal vehicles. Ride-hailing, like a traditional taxi service, facilitates drivers providing rides to customers for a fee. However, ride-hailing offers additional capabilities, such as efficient pricing tools, matching platforms, rating systems, and food delivery.

We were originally incorporated as a subsidiary of Cyber Apps World, Inc. ("Cyber Apps"), a reporting company, and entered into an agreement dated December 20, 2020 to acquire the WarpSpeedTaxi application in its current phase of development from Limitless Projects Inc. ("Limitless"), a private Wyoming corporation, for total consideration of $300,000 payable in stages. Our acquisition of the application was to include a 100% interest in all software comprising the application, as well as the corresponding website domain, content, and all incorporated technology. We would also jointly own the operational data and databases relating to the application with the vendor.

On January 19, 2022, we entered into an agreement whereby we terminated this asset purchase and sale agreement with Limitless due to our inability to make a required payment pursuant to that agreement.

Pursuant to the terms of the termination agreement, Limitless has reimbursed us the $10,000 cash payment that we made to it upon the execution of the original agreement. Additionally, our directors at the time, who were also the directors of Cyber Apps, resigned and appointed Daniel Okelo, the president of Limitless, in their place. Cyber Apps also transferred the 115,000,000 shares of common stock in our capital that it owned to Limitless for consideration of $14,100.

We anticipate that our WarpSpeedTaxi application will allow customers to hire a standard and luxury motor vehicles via a smartphone or personal computer for both one-way and round-trips with the price based on the distance travelled and the current level of demand for vehicles. In addition to transporting passengers, the application may also be used for deliveries of goods from restaurants, grocery stores, and other businesses that typically utilize local vehicle courier services.

Customers will use the application to request a ride or the delivery of goods. Drivers that we recruit and approve, through confirmation of no criminal record, a clean driving history, and access to a suitable insured vehicle, will act as independent contractors and set their own work hours. They will connect with customers via our application, pick up customers or goods to be delivered in accordance with the customer's request, and then drive the customers or goods to their destination. Customers will pay for the transportation through the application by way of credit card. Drivers will receive payments for each ride or delivery they complete via a weekly direct deposit to their bank accounts.





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When a customer uses the WarpSpeedTaxi application for ride-hailing, we will charge the customer a flat fee of approximately $2.00 for each ride plus an amount for each mile that the customer travels. The amount for each mile will vary depending on the city in which the customer is located. It will be higher in more densely populated cities where traffic moves relatively slowly and lower in less densely population cities will less traffic congestion. Additionally, we will charge customers an additional premium during busy times when customer demand exceeds the number of available drivers. This increase in pricing is intended to incentivize drivers to work during peak demand times since they will receive greater compensation. In order to encourage drivers to work an independent contractor for us, we will initially retain 15% of all revenue that a customer pays for a ride with the remaining 85% compensating the driver for his or her time and vehicle expenses. Drivers will also retain 100% of all tips that customers provide them. Over time, when we have established a market for our services, we may adjust this percentage so that we retain a greater percentage of revenue.

When a restaurant uses the food delivery service feature of our WarpSpeedTaxi application, we will charge restaurants between 5% and 15% of their order revenue, subject to a set minimum amount, depending on the amount of business that we receive from delivery orders of their food through our application. From these proceeds, we will pay our drivers a base fee for deliveries that depend on the distance that they must travel to pick up the food and deliver it to the customer. In addition, the driver will retain any tips that the customer provides.

We are currently in the beta testing phase of the WarpSpeedTaxi application, which is being conducted in Ahmedabad, India. We have retained an independent contractor, Global Corporate Structural Services Limited., a private company with operations in India, Albania, and the Philippines, to oversee the development, maintenance, and testing of the WarpSpeed Taxi computer application.

Results of Operations for the three months and nine months Ended April 30, 2022

Our net loss for the three and nine-month period ended April 30, 2022 was $256,011 and $364,326, respectively, which consisted entirely of general and administrative fees. We did not generate any revenue during either three- or nine-month period in fiscal 2022.

LIQUIDITY AND CAPITAL RESOURCES

As of April 30, 2022, our current assets were $25,207 compared to $52,194 on July 31, 2021. The decrease in current assets in the current fiscal year is due to operating expenses that we have incurred with the development and testing of our WarpSpeed Taxi application.

As of April 30, 2022, our current liabilities were $116,159 compared to $81,593 on July 31, 2021. Current liabilities on April 30, 2022 were comprised entirely of accounts payable and accrued liabilities. Current liabilities increased in the nine-month period ended April 30, 2022 as compared to the July 31, 2021 year end due to operating costs.

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 nine-month period ended April 30, 2022, net cash flows used in operating activities were $559,760 consisting of a net loss of $364,326, which was offset by prepayments and deposits of $20,000, payments on our accounts payable and accrued liabilities $34,566, and the cancellation of our note payable of $250,000.

Cash Flows from Investing Activities

For the nine-month period ended April 30, 2022, our cash flows used in investing activities were $12,226, which consisted of the software development costs relating to the WarpSpeed Taxi computer application.

Cash Flows from Financing Activities

We have financed our operations from the issuance of our shares of common stock. Net cash flows generated from financing activities were $565,000 in the nine-month period ended April 30, 2022 relating to our sale of 23,330,000 shares of common stock at a price of $0.02 and 80,000 shares of common stock at a price of $1.25 pursuant to our registration statement on Form S-1, as amended.





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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 financial condition, revenues or expenses, 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.

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