Cyber Apps World (CYAP) Gets Confirmation of SEC Effectiveness of the WarpSpeed Taxi S-1 Registration Statement

Rhea-AI Summary

Cyber Apps World Inc. (OTC PINK:CYAP) announced the SEC's acceptance of the S-1 Registration Statement for its subsidiary, WarpSpeed Taxi Inc., which is nearing completion for market trading. WarpSpeed, a rideshare and delivery app, aims for significant market entry by offering competitive incentives, addressing the $385 billion rideshare sector. The next steps include hiring a Market Maker and filing with FINRA. President Mohammed Kazi emphasized that this milestone enhances the company’s value and credibility, potentially benefiting shareholders.

Positive

• SEC acceptance of WarpSpeed Taxi's S-1 Registration Statement is a key step towards spin-off completion.
• WarpSpeed Taxi aims to penetrate the rideshare market with competitive incentives, targeting a $385 billion industry.
• Development of a multi-functional app positions WarpSpeed Taxi favorably against major competitors.

Negative

• Completion of spin-off is dependent on subsequent filings and successful engagement with a Market Maker.
• The process is subject to several risks and uncertainties, which could impact actual business outcomes.

LAS VEGAS, NV / ACCESSWIRE / March 10, 2021 / Cyber Apps World Inc. (OTC PINK:CYAP) ("Cyber Apps World" or the "Company"), an acquirer and developer of innovative cyber technologies with the potential for disruptive scalability and eventual spin-off success, is excited to announce that the U.S. Securities and Exchange Commission (the "SEC") has officially issued a receipt for the S-1 Registration Statement of its subsidiary, WarpSpeed Taxi Inc., a rideshare and delivery app-based technology platform now in late-stage development at Cyber Apps. WarpSpeed Taxi Inc. is now a reporting issuer that may now apply to have its shares quoted for trading on OTC Markets, which will complete the spin-off of the subsidiary.

Now that the S-1 has been approved by the SEC, the Company will next move to retain a Market Maker before filing an application to trade with the Financial Industry Regulatory Authority ("FINRA"). The final step in the spin-off process will then be to file another S-1 registration statement with the SEC in order to qualify a stock dividend assignment of post-spin-off shares for WarpSpeed Taxi to CYAP shareholders of record.

For more information about WarpSpeed Taxi and the Company's spin-off model, please check out this new explanatory video.

"We are close to entering the end-game of spinning off WarpSpeed and making good on our commitment to our shareholders," commented Mohammed Irfan Rafimiya Kazi, President of Cyber Apps. "This is a significant step and has substantial implications for the Company's larger value proposition given our model. Once we successfully develop, release, and spin off a viable venture, creating value for our shareholders in the process, we will have proven the model and taken a big step toward gaining credibility in the market, which should confer value on our current and future ventures set to follow WarpSpeed Taxi."

WarpSpeed Taxi is a rideshare and delivery app-based platform under development with extensive functionality comparable to major competitors in the $385 billion global rideshare/delivery space. WarpSpeed Taxi is being designed for rapid market penetration by offering incentives to customers, businesses, and drivers to seed a network effect leading to potential mass adoption in the rideshare and delivery space.

About WarpSpeed Taxi Inc.
WarpSpeed Taxi Inc. aims to be "The next generation ride-hailing of taxi service"

WarpSpeed Taxi App will offer ride-hailing passenger transportation and delivery service through a smartphone-based app.

Among ride-hailing services, WarpSpeed Taxi will offer city taxi services that allow passengers to hire a car via a smartphone-based app based on preferred plan, to book a round-trip or one-way trip and pay for the travelled distance, and to rent a chauffeur-driven cars at the best fares allowing passengers to book cars by hour and km. WarpSpeed Taxi will also offer premium packages for corporate users as a simple and easy way to manage company employee travel and track expenses.

Among delivery services, WarpSpeed Taxi will target both individuals and corporate customer segments. In the latter case, this feature will give discounts to restaurant owners, grocery stores, couriers, etc. to affordably provide deliveries, especially considering the COVID pandemic lockdown consequences. Currently, the corporate segment, and in particular, restaurants, have to give away big margins of up to 25% for deliveries to Apps. Restaurants can afford a 10% to 15% discount for take-out orders due to saving costs with table service. This along with WarpSpeed Taxi giving corporate discounts to businesses will enable restaurants to give free delivery to their customers so it will be a win-win situation for restaurants, customers, drivers (with more business) and WarpSpeed Taxi (with a bigger target market then just customer pick and drop off).

About WarpSpeed Taxi App.
WarpSpeed Taxi will include the following mobile applications:

• Driver app: Drivers provide transport services and communicate with their customers.
• Rider app: Riders can book and track journeys and select vehicle types.
• Dispatch system: A real-time software platform that automates scheduling and routing of vehicles using location and traffic data. Taxi or ride-hailing dispatch systems connect drivers with riders via their mobile phones.

For more information go to: https://cyberappsworld.com/index.php/warp-speed-taxi/.

About Cyber Apps World Inc.
Cyber Apps World, Inc. is a company that is dedicated to acquiring and developing a worldwide e-commerce internet platform with the purchase and sale of products and services by way of mobile/computer applications worldwide. Cyber Apps World anticipates making available to subscribers, an ever-growing list of applications and programs.

For more information, visit https://cyberappsworld.com.

Forward-Looking Statements
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. That includes the possibility that the business outlined in this press release cannot be concluded for some reason. That could be as a result of problems that were not anticipated. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Cyber Apps World, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Cyber Apps World, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.

Company Address
9436 W. Lake Mead Blvd.
Suite 5-53
Las Vegas, NV 89134
Phone: (702) 805-0632

For All Inquiries Contact:
info@cyberappsworld.com

Public Relations
EDM Media, LLC
https://edm.media
(800) 301-7883

SOURCE: Cyber Apps World Inc.

View source version on accesswire.com:
https://www.accesswire.com/634508/Cyber-Apps-World-CYAP-Gets-Confirmation-of-SEC-Effectiveness-of-the-WarpSpeed-Taxi-S-1-Registration-Statement

FAQ

What is the significance of the SEC acceptance for CYAP's WarpSpeed Taxi?

The SEC acceptance signifies that WarpSpeed Taxi can proceed with its spin-off, enhancing its trading potential and credibility in the market.

How does WarpSpeed Taxi plan to compete in the rideshare market?

WarpSpeed Taxi plans to compete by offering incentives to customers and businesses, aiming for rapid adoption in the rideshare and delivery space.

What is the next step for CYAP after the SEC approval?

After SEC approval, CYAP will seek a Market Maker and file with FINRA to facilitate the spin-off process.

What potential risks are associated with the spin-off of WarpSpeed Taxi for CYAP investors?

Investors face risks related to the completion of the spin-off, including potential delays and uncertainties in the market.

When can shareholders expect a stock dividend assignment related to the spin-off?

Shareholders can expect a stock dividend assignment once the final S-1 registration is filed and approved by the SEC.