-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L5RtxI2BBryDxifflCNrfB7kC/ngEOKKKnm3HhPwa0vMKWY6KdYO+FLgOCe7gCOn /qYS5NbgQhdgJMLQM5oeBQ== 0001127855-10-000171.txt : 20100514 0001127855-10-000171.hdr.sgml : 20100514 20100513174737 ACCESSION NUMBER: 0001127855-10-000171 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100331 FILED AS OF DATE: 20100514 DATE AS OF CHANGE: 20100513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Cyber Informatix, Inc. CENTRAL INDEX KEY: 0001446210 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 223968194 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-53615 FILM NUMBER: 10829892 BUSINESS ADDRESS: STREET 1: 1645 CYRENE DRIVE CITY: CARSON STATE: CA ZIP: 90746 BUSINESS PHONE: (306) 529-2652 MAIL ADDRESS: STREET 1: 1645 CYRENE DRIVE CITY: CARSON STATE: CA ZIP: 90746 10-Q 1 cyberinfo10q033110.htm CYBER INFORMATIX 10Q, 03.31.10 cyberinfo10q033110.htm
 

 
________________________________________________________________________
 
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 10-Q
 
x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended March 31, 2010
 
o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from                      to                     
 
Commission file number: 333-154610
 
CYBER INFORMATIX, INC.
(Exact name of Small Business Issuer as Specified in its Charter)
 
Nevada
22-3968194
(State or Other Jurisdiction
(I.R.S. Employer
of Incorporation or
Identification
Organization)
Number) 
 
1645 Cyrene Drive, Carson, CA  90746
(Address of registrant's principal executive offices)
 
(888) 205-2249
(Issuer’s Telephone Number, Including Area Code)
 
 
Check whether the Issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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  o
 
Indicate by check mark whether the Issuer is a shell company (as defined by Rule 12b-2 of the Exchange Act).
 
Yes  x       No  o
 
State the number of shares outstanding of each of the Issuers classes of common equity, as of the latest practicable date:
 
Common, $.001 par value per share: 5,870,000 outstanding as of March 31, 2010.
 
 

 

 
- 1 -

 
 
 
 
 
 

 

 

 
 

 
 

 

 
- 2 -

 
 
 
PART I - FINANCIAL INFORMATION
 
Item 1.       Financial Statements.
 
 
 
CYBER INFORMATIX, INC.
 
 
CONDENSED FINANCIAL STATEMENTS
 
March 31, 2010
(Unaudited)
 














 
- 3 -

 
 
 
CYBER INFORMATIX, INC.
 
(A Development Stage Company)
 
BALANCE SHEETS  
                                             
       
(Audited)
 
   
2010
   
2009
 
   
March 31
   
June 30
 
CURRENT ASSETS
           
Cash
  $ 1,434     $ 272  
                 
TOTAL CURRENT ASSETS
  $ 1,434     $ 272  
                 
SOFTWARE AND WEBSITE
               
Software
  $ 64,365     $ 64,365  
Less: Depreciation and Amortization
    (59,791 )     (46,070 )
                 
TOTAL
  $ 4,574     $ 18,295  
                 
TOTAL ASSETS
  $ 6,008     $ 18,567  
                 
CURRENT LIABILITIES
               
Accounts Payable and Accrued Liabilities
  $ 4,451     $ 3,218  
Shareholders' Loans
    47,500       47,500  
                 
TOTAL CURRENT LIABILITIES
  $ 51,951     $ 50,718  
                 
                 
TOTAL LIABILITIES
  $ 51,951     $ 50,718  
                 
STOCKHOLDERS' EQUITY
               
Common stock; 75,000,000 shares authorized at $0.001 par value,
               
5,870,000 shares issued and outstanding, (Note 3)
  $ 5,870     $ 5,595  
Additional Paid In Capital
    85,096       70,563  
Accumulated Deficit in the development stage
    (136,909 )     (108,309 )
                 
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)
  $ (45,943 )   $ (32,151 )
                 
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY
  $ 6,008     $ 18,567  
 
 
 
The accompanying notes are an integral part of these financial statements.
F-1
 
- 4 -

 
 
 
CYBER INFORMATIX, INC.  
(A Development Stage Company)  
STATEMENTS OF OPERATIONS  
(Unaudited)  
                           
From Inception
 
                           
September 10,
 
   
Three Months Ended
   
Nine Months Ended
   
2007 through
 
   
March 31 Quarter Ended
   
March 31
   
March 31,
 
   
2010
   
2009
   
2010
   
2009
   
2010
 
                               
SALES
  $ -     $ 60     $ 60     $ 303     $ 926  
SALES FROM RELATED PARTIES
                    -       -       236  
                                         
TOTAL SALES
    -       60       60       303       1,162  
                                         
COST OF SALES
    -       -       -       -       -  
                                         
GROSS PROFIT
    -       60       60       303       1,162  
                                         
OPERATING EXPENSES
                                       
                                         
General & administrative expenses
    6,591       4,509       14,939       18,877       44,414  
Advertising & marketing
    -       -       -       -       7,314  
Website design
    -       1,889       -       4,249       10,778  
Impairment of software asset
    -       -       -       7,000       22,774  
Depreciation & amortization
    4,574       6,840       13,721       20,755       59,791  
                                         
TOTAL OPERATING EXPENSES
    11,165       13,239       28,660       50,880       145,071  
                                      -  
LOSS FROM OPERATIONS
    (11,165 )     (13,179 )     (28,600 )     (50,578 )     (143,909 )
                                         
OTHER INCOME (EXPENSES)
                                       
Gain on extinguishment of debt
    -       -       -       8,204       8,204  
Interest Expense
    -       -       -       (300 )     (1,204 )
                                         
TOTAL OTHER INCOME
    -       -       -       7,904       7,000  
                                         
LOSS BEFORE INCOME TAXES
    (11,165 )     (13,179 )     (28,600 )     (42,673 )     (136,909 )
                                         
PROVISION FOR INCOME TAXES
    -       -       -       -       -  
                                      -  
NET LOSS
  $ (11,165 )   $ (13,179 )   $ (28,600 )   $ (42,673 )   $ (136,909 )
                                      -  
Basic loss per share of common stock   $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00
                                         
Weighted average number of shares
    5,870,000       5,445,000       5,778,668       5,445,000          

 
 
The accompanying notes are an integral part of these financial statements.
F-2

 
- 5 -

 
 
 
CYBER INFORMATIX, INC.  
(A Development Stage Company)  
STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)  
                                     
               
Additional
   
Stock
         
Totals
 
   
Common Stock
   
Paid In
   
Subscriptions
   
Accumulated
   
Stockholders'
 
   
Shares
   
Amount
   
Capital
   
Receivable
   
Deficit
   
Equity
 
                                     
BALANCE ON INCEPTION
                                   
September 10, 2007
    -     $ -     $ -     $ -     $ -     $ -  
                                                 
Common stock issued at $0.001
                                               
Per share, September 30, 2007
    4,500,000       4,500       -       -       -       4,500  
                                                 
Common stock issued at $0.01
                                               
Per share, June 30, 2008
    945,000       945       8,505       (9,450.00 )     -       -  
                                                 
Contributed Capital
    -       -       1,800       -       -       1,800  
                                                 
Net (Loss) for year ended
                                               
June 30, 2008
    -       -       -       -       (38,523 )     (38,523 )
                                                 
BALANCE, JUNE 30, 2008
    5,445,000     $ 5,445     $ 10,305     $ (9,450 )   $ (38,523 )   $ (32,223 )
                                                 
Contributed Capital
    -       -       57,408       -       -       57,408  
                                                 
Common stock issued at $0.02
                                               
Per share, June 30, 2009
    150,000       150       2,850       9,450       -       12,450  
                                                 
Net (Loss) for year ended
                                               
June 30, 2009
    -       -       -       -       (69,786 )     (69,786 )
                                                 
BALANCE, JUNE 30, 2009
    5,595,000     $ 5,595     $ 70,563     $ -     $ (108,309 )   $ (32,151 )
                                                 
Contributed Capital
    -       -       9,308       -       -       9,308  
                                                 
Common stock issued at $0.02
                                               
Per share, September 30, 2009
    275,000       275       5,225       -       -       5,500  
                                                 
Net (Loss) for nine months ended
                                               
March 31, 2010
    -       -       -       -       (28,600 )     (28,600 )
                                                 
BALANCE, MARCH 31, 2010
    5,870,000     $ 5,870     $ 85,096     $ -     $ (136,909 )     (45,943 )
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
F-3
 
 
- 6 -

 
 
 
CYBER INFORMATIX, INC.
 
(A Development Stage Company)
 
STATEMENTS OF CASH FLOWS  
 
         
From Inception
 
   
Nine Months Ended
   
September 10,
 
   
March 31,
   
2007 through
 
   
2010
   
2009
   
March 31, 2010
 
OPERATING ACTIVITIES
                 
Net Loss
  $ (28,600 )   $ (42,673 )   $ (136,909 )
Adjustments to reconcile net loss to net cash used by
                       
operating activities:
                       
Gain on extinguishment of debt
    -       -       (7,000 )
Impairment of software
    -       (7,000 )     22,774  
Depreciation & amortization
    13,721       20,755       59,791  
Donated Rent
    1,800       1,800       6,000  
Changes in operating assets and liabilities:
                       
Increase (decrease) in interest payable
    -       (904 )     -  
Increase (decrease) in accounts payable
    1,233       2,411       4,451  
                         
Net Cash Provided (Used) by Operating Activities
    (11,846 )     (25,611 )     (50,893 )
                         
INVESTING ACTIVITIES
                       
Purchase of fixed assets
    -       (139 )     (72,139 )
                         
Net Cash Provided (Used) by Investing Activities
    -       (139 )     (72,139 )
                         
FINANCING ACTIVITIES
                       
Sale of stock
    275       9,450       14,375  
Contributed Capital
    12,733       51,517       70,591  
Proceeds (payment) on note payable
    -       (8,000 )     (8,000 )
Proceeds (payment) on shareholder loan
    -       (26,913 )     47,500  
                         
Net Cash Provided by Financing Activities
    13,008       26,054       124,466  
                         
NET INCREASE (DECREASE) IN CASH
    1,162       304       1,434  
                         
CASH POSITION, BEGINNING OF PERIOD
    272       612       -  
                         
CASH POSITION, END OF PERIOD
  $ 1,434     $ 916     $ 1,434  
                         
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
                 
                         
CASH PAID FOR DURING THE PERIOD:
                       
Interest
  $ -     $ 300     $ 300  
Income Taxes
  $ -     $ -     $ -  
                         
NON CASH FINANCING ACTIVITIES
                       
Stock Subscriptions Receivable
  $ -     $ -     $ 9,450  
Donated Rent
  $ 1,800     $ 1,800     $ 6,000  
Note Payable for Software Asset Purchase
  $ -     $ (7,000 )   $ 8,000  
 
 
 
The accompanying notes are an integral part of these financial statements.
F-4
 
 
- 7 -

 

 
(A Development Stage Company)

NOTES TO THE FINANCIAL STATEMENTS
For The Period Ended March 31, 2010
 
 
1.
BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited condensed financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations.  The information furnished in the interim consolidated financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements.  Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim consolidated financial statements be read in conjunction with the Company’s most recent audited consolidated financial statements and notes thereto as of June 30, 2009. Operating results for the nine months ended March 31, 2010 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2010.

2.
DESCRIPTION OF THE BUSINESS

Cyber Informatix, Inc. (the "Company") is in the initial development stage and has incurred losses since inception totaling $(136,909) as of March 31, 2010. The fiscal year end of the Company is June 30. The company was incorporated September 10, 2007 under the laws of the state of Nevada as Cyber Informatix, Inc. The company was established to pursue opportunities in the pre-packaged downloadable software industry, targeting the personal-use software application market. The software products are distributed exclusively via the internet and are available for download only. The company intends to develop more software products in the future to add to the current product line.

The company initially purchased software and source code assets via an asset purchase agreement on September 30, 2007. The website has been further developed to accommodate multi-payment applications and functions as a user-friendly e-commerce business. The software products are available via download online at www.cyberinformatix.com and www.personalelectronicorganizer.com .

3.
CAPITAL STOCK

The company currently has authorized 75,000,000 common voting shares each with a par value of $0.001. On September 28, 2007, the Company issued a total of 4,500,000 shares of its common stock to its founders for total cash proceeds of $4,500. On June 30, 2008, the Company issued a total of 945,000 shares of its common stock to nineteen individuals residing outside the U.S. for total proceeds of $9,450. On June 30, 2009, the Company issued a total of 150,000 shares of its common stock for total proceeds of $3,000. On September 30, 2009, the Company issued a total of 275,000 shares of its common stock for total proceeds of $5,500. As of the period ended March 31, 2010, the company had a total of 5,870,000 common shares outstanding.

4.
RELATED PARTY TRANSACTIONS

From inception at September 10, 2007 through to March 31, 2010, the founding shareholders, Donald C. Jones and Terry G. Bowering, who are also Directors of the company, provided loans to the company. The total outstanding balance of the shareholder loans as at December 31, 2009 was $47,500 and is shown as a current liability on the balance sheet. This shareholder loan carries no interest and no set terms of principal repayment but are payable on demand. Prior to the period ended December 31, 2009, Terry G. Bowering converted the entire remaining balance of his shareholder loan to equity in the amount of $26,913, which was credited to Additional Paid-In Capital during the fiscal year ended June 30, 2009.
 
 
F-5
 
 
- 8 -

 

              
CYBER INFORMATIX, INC.
(A Development Stage Company)

NOTES TO THE FINANCIAL STATEMENTS
For The Period Ended March 31, 2010


4.
RELATED PARTY TRANSACTIONS (continued)
 
In addition, the President of the Company, Mr. Donald C. Jones is providing office space at his residence to conduct administrative duties to manage the company’s business. The company deemed this space to have a value of $200 per month (rent expense) of which thirty months rent ($6,000) up to the period ended March 31, 2010 is credited to Contributed Capital and shown on the balance sheet as Additional Paid-In Capital.

5.
RESTATED FINANCIAL STATEMENTS
 
The company had restated its financial statements for the year ended June 30, 2008, as well as the nine months ended March 31, 2009, in conjunction with the PCAOB revocation of the registration of its prior auditor. The company had its financials re-audited, during which it re-evaluated its software asset and website value as stated on the Balance Sheet, in concurrence with its new audit firm. Also, it was determined that $5,907 in originally capitalized website costs should be expensed. After restating these items, Total Assets (Software) decreased to $60,612 from $65,907 and Operating Expenses increased to $38,418 from $32,511. Net Loss for the year ended June 30, 2008 increased to $(38,523) from $(32,616). The company’s restated Accumulated Deficit as at June 30, 2008 was $(38,523).
 
The restatement and above adjustments concurrently affected the same account balances for the nine months ended March 31, 2009, and the three months ended March 31, 2009, by the same amounts as denoted in the table below. The following table is a comparison of the summarized financial statements of the company before and after the restatement:
 
   
Nine Months Ended
March 31, 2009
   
Three Months Ended
March 31, 2009
 
   
Original
   
Restated
   
Change
   
Original
   
Restated
   
Change
 
STATEMENT OF OPERATIONS
                                   
Loss from Operations
  $ (39,690 )   $ (50,578 )   $ (10,888 )   $ (11,651 )   $ (13,179 )   $ (1,528 )
Total Other Income (Expense)
    (300 )     7,904       8,204       -       -       -  
Net Loss
  $ (39,990 )   $ (42,673 )   $ (2,683 )   $ (11,651 )   $ (13,179 )   $ (1,528 )
Net Loss per Share
    (0.001 )     (0.001 )     -       (0.001 )     (0.001 )     -  
                                                 
BALANCE SHEET
                                               
Total Assets
  $ 57,094     $ 40,300     $ (16,794 )                        
Total Liabilities
    52,429       52,429       -                          
Stockholders' Equity
    4,664       (12,129 )     (16,794 )                        
Total Liabilities & Stockholders' Equity
  $ 57,094     $ 40,300     $ (16,794 )                        
                                                 
STATEMENT OF CASHFLOWS
                                               
Operating Activities
  $ (14,362 )   $ (25,611 )   $ (11,249 )                        
Investing Activities
    (11,388 )     (139 )     11,249                          
Financing Activities
    26,054       26,054       -                          
Comprehensive Loss
    -       -       -                          
Cash Ending
  $ 916     $ 916       -                          
 
 
 
F-6

 
- 9 -

 

       
CYBER INFORMATIX, INC.
(A Development Stage Company)

NOTES TO THE FINANCIAL STATEMENTS
For The Period Ended March 31, 2010


6.
SUBSEQUENT EVENTS
 
The Company has determined that there were no subsequent events that warrant disclosure or recognition in the financial statements.
 
7.
GOING CONCERN
 
The Company's financial statements are prepared using accounting principles generally accepted 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.
 
From inception at September 10, 2007 through to March 31, 2010, the Company has incurred a net loss of $(136,909). The company’s current liabilities exceed its current assets by $50,517. These factors may create uncertainty about the Company's ability to continue as a going concern.
 
In order to continue as a going concern and achieve a profitable level of operations, the Company will require, among other things, additional capital resources. Management's plans to obtain such resources for the Company include (1) raising additional capital through the sale of common stock in additional private placement share offerings expected to take place in 2010; (2) issuing additional promissory notes to borrow funds that will allow the company to continue to conduct operations; (3) Management believes that its status as a fully reporting issuer combined with its intentions to also become publicly traded in the near future, will substantially enhance the company’s opportunities to raise capital via stock offerings in the future and provide future liquidity to investors.
 
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.

 
 
 
 
 
 

 

F-7

 
- 10 -

 
 
 
CYBER INFORMATIX, INC.
(A Development Stage Company)
 
 
Item 2.       Management’s Discussion and Analysis or Plan of Operation.

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes thereto contained elsewhere in this Form 10-Q.

SEC Rule 405 under the Securities Exchange Act defines a "shell company" as a registrant with no or nominal operations and no or nominal assets or just assets consisting entirely of cash.  A shell company is required to identify itself as such on the cover page of its periodic SEC reports.  In the event of certain corporate reorganizations effecting a change in control of the SEC reporting company with an otherwise privately held company, a shell company is required to make extensive additional disclosures regarding the shell company and the privately held company whose objective may be to become an SEC reporting, public company.  We have identified ourselves as a shell company because of our limited operations and assets to date.  It is not our plan or intention to seek out or entertain proposals for reorgan ization of our company with any other company which would result in a change in control or change in our business objective of being a successful software development and e-commerce company.   The point at which a potential shell company's operations and assets would no longer be considered nominal is not defined in the Rule and has not been clarified by any SEC pronouncements or judicial interpretations.  We intend to re-evaluate our operations and assets as well as any additional legal clarification prior to the filing of every report to determine if it is appropriate to change our self determined status.

Forward-Looking Statements

This discussion contains forward-looking statements that involve risks and uncertainties. All statements regarding future events, our future financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In many cases, you can identify forward-looking statements by terminology, such as “may”, “should”, “expects”, “intends”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of such terms and other comparable terminology.  These statements are only predictions.  Known and unknown risks, uncertainties and other factors could cause our actual results to differ materially from those projected in any forward-looking statements.  We do not intend to update these forward-looking statements.

Overview
 
Cyber Informatix, Inc., (referred to herein as the “Company”, “we”, “us” and “our”) is primarily engaged in the pre-packaged downloadable software business with administrative office located at 1645 Cyrene Drive, Carson, CA, 90746.  We are a small software design and e-commerce company in the development stage whose primary business is distributing economically-priced downloadable application software via the Internet. We were organized on September 10, 2007. Our administrative office is located at 1645 Cyrene Drive, Carson, California, 90746. Our telephone number is (888)205-2249 and our facsimile number is (702)926-3376. Our corporate residen t agent, located in the state of Nevada, is Spiegel & Utrera Law Firm located at 1785 E. Sahara Avenue, Suite 490, Las Vegas, Nevada 89104 (Telephone:  702.364.2200, Facsimile 702.458.2100). The company was incorporated under the laws of the State of Nevada on September 10, 2007. We develop and market software. For the period from inception through to March 31, 2010, our total sales were $1,162 and our total net loss was $(136,909). On March 31, 2010, we had total assets of $6,008. We have no partnering, joint venture or similar such arrangements and/or commitments to enter into any such agreements.

We were established to pursue opportunities in the pre-packaged downloadable software industry, targeting the personal-use software application market. To launch our business, our current software source code assets and website were purchased on September 28, 2007 via an asset purchase agreement. As well, we retained a software developer and website design firm to develop our business. Our software application products are distributed exclusively via the internet and are available for download only on our fully operational e-commerce website located on the World Wide Web at www.personalelectronicorganizer.com , and www.cyberinformatix.com . The website has been further developed to accommodate multi-paymen t applications. Software and web design development is ongoing with the objective of
 

 
- 11 -

 
 
 
CYBER INFORMATIX, INC.
(A Development Stage Company)
 
 
ensuring that our software products are compatible with current PC operating systems and contain all of the features necessary to maximize “user-friendliness” for the consumer.
 
We generate our revenues from software downloads of our products from our website. Payment is made through our online integrated shopping cart that accepts a wide range of online payment methods, including PayPal, credit cards, and e-checks. Over the next 12 months, we intend to complete the redevelopment and upgrade our current suite of proprietary software products to be fully compatible with new Microsoft PC operating systems standards such as “Vista”. We also intend to develop more software product applications in the future to add to our current software product.
 
We have received a going concern opinion from our auditors which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. For the nine months period ended March 31, 2010, the Company had a net loss of $(28,600) and an accumulated retained earnings deficit as at March 31, 2010 of $(136,909). The Company intends to fund operations over the next six to twelve months through equity financing arrangements, which should be sufficient to fund its capital expenditures, working capital and other cash requirements over the next three months to the year ending June 30, 2010. Please refer to Note 6, “Going Concern”, accompanying the financial statements. The discussion below provides an overview of our operations, discusses our results of operations, our plan o f operations and our liquidity and capital resources.

Results of Operations
 
Overview – Three months ended March 31, 2010
Our sales have been minimal due to the fact that we did not have adequate funds to expend on a marketing program to generate increased online sales.  Total sales for the three months ended March 31, 2010 were $30 compared to $111 for the three months March 31, 2009. Total operating expenses for the quarter were $11,165 as compared to $13,239 for the previous three months ended March 31, 2009. The primary expenses included accounting and legal expenses of $6,591 and depreciation of the software asset in the amount of $4,574. We realized a net loss for the period of $(11,165) versus a net loss of $(13,179) for three months ended March 31, 2009.
 
Overview – Nine months ended March 31, 2010
Total sales for the nine months ended March 31, 2010 were $60 compared to $303 in sales for the nine months ended March 31, 2009. Our total operating expenses were $28,660 for the nine months ended March 31, 2010 compared to operating expenses of $50,880 for the nine months ended March 31, 2009. The decrease in operating expenses for the nine months ended March 31, 2010, versus the same period in the previous year, were due to decreased professional fees for auditing, legal, transfer agent, and accounting services, resulting from the company’s S-1 Registration Statement filing and amendments in the previous fiscal year. We realized a net loss of $(28,600) for the nine months ended March 31, 2010 compared to a net loss of $(42,673) for the nine months period ended Marc h 31, 2009.

Operations Outlook
 
The Company's plan of operations and primary objective for the next three months to the fiscal period ending June 30, 2010 is to complete Phase II of our proprietary software upgrade and conduct an initial and limited launch of our Internet Search Engine Optimization Marketing campaign designed to increase traffic and generate sales on our website, www.cyberinformatix.com and www.personalelectronicorganizer.com .
 
The success of our business is dependent upon consistently driving a significant amount of online users (Internet ‘traffic’) to our e-commerce website that will then download and purchase our software products. Our ability to fully develop our software products and deliver them on a price-competitive basis is also paramount to our success. To grow the company we must attract and retain qualified expert software consultants so that we can keep pace with changing technology and provide customers with useful and economically-priced software application products.



 
- 12 -

 
 
 
CYBER INFORMATIX, INC.
(A Development Stage Company)
 
 
Our continuation as a going concern is dependent on our ability to generate sufficient cash flow to meet our obligations on a timely basis and ultimately to achieve profitability. The full implementation of our business plan, including the employment or retention of experts as consultants, is dependent upon our ability to raise significant additional capital from equity and/or debt financing and/or achieve significant profits from operations.  We  believe  that  we may  not  realize  significant  profits  from operations  in the next year and that it will be necessary  to raise  additional funds. We intend to increase our efforts to raise capital, exploring all available options for debt and/or equity financing.
 
Satisfaction of our cash obligations for the next six to twelve months
 
In the case that we do not realize 100% or at least a substantial percentage of the maximum amount of the funding from additional offerings of the new shares detailed in our S-1 Registration statement, we may seek loans from affiliated parties to fund our operations over the next twelve months. Currently, we have made not made any written or legally enforceable arrangements to obtain such funding. We have estimated that the costs of planned operations for the next twelve months will not exceed $50,000. Unless we successfully realize proceeds from the sale of new shares and/or Management provides interim funding directly, we will not be able to conduct planned operations with currently available capital resources beyond the next 90 to 120 days. We have estimated that the amount of funding needed to conduct planned operations for the n ext twelve months, which includes the completion of the second phase of our software re-development as well as our marketing plan to drive online sales, to be approximately $50,000. However, this total is predominantly comprised of variable costs which are non-essential. The primary variable cost that will drive revenues and growth for our online software business is marketing and advertising costs. Given that our web hosting fees and primary Internet search-engine fees are prepaid until the end of 2010 and we will need a maximum of $5,000 at this stage to complete the software re-development phase, we can operate for a period of 90 days to 180 days with a reduced level of funding, if necessary.
 
At the date of this filing, management has not made any written or legally enforceable agreements to obtain funding for the next twelve months of operations. However, since the two Principals, Mr. Donald C. Jones and Mr. Terry G. Bowering have already committed personal funds in the form of shareholder loans to initially fund the company, management and the principals feel that it is in the best interests of the company as well as each principal personally to provide the necessary funds when needed over the next twelve-month period to continue the company’s plan of operations. At such time if and when funds are advanced to the company in the form of additional loans, the company will issue promissory notes that will stipulate conditions for re-payment. This document (promissory note) will be enforceable in accordance with its t erms under the applicable law. Therefore, management may seek loans from affiliated parties to provide funds from time to time over the next twelve month period subject to the conditions that the company will issue corresponding promissory notes and that the company will continue to undertake all the steps that are necessary in realizing its business plan and maintaining its status as a fully-reporting public company. The material costs associated with maintaining the company’s status as a fully reporting company are auditing, accounting, and legal fees. At the date of this filing, Management estimates that these particular expenses combined with a planned increase in marketing expenditures will be a minimum of $10,000 for the next twelve months.
 
Summary of any product research and development that we will perform for the term of the plan.
 
We anticipate undergoing further development and upgrade of our proprietary software. We have determined that we need to add a number of navigation features to our software to make it substantially more user-friendly. We intend to roll out a new version of our software by late 2010.

Expected purchase or sale of plant and significant equipment.
 
We do not anticipate the purchase or sale of any plant or significant equipment; as such items are not required by us at this time or in the next 12 months.
 

 

 
- 13 -

 


CYBER INFORMATIX, INC.
(A Development Stage Company)
 
 
Significant changes in number of employees.
 
The number of employees required to operate our business is currently two individuals (our company principals). We currently contract out for our website design and software development services.

Goals
 
We will aim to reach a critical mass of online customers sufficient enough to generate positive monthly positive cash flows, thorough a comprehensive marketing plan that builds the "Personal Organizer” and Cyber Informatix Products brand names by consistently driving traffic to our e-commerce website in a cost-effective manner. We have the following goals for the next six to twelve months:

 
Improve Customer/User Experience via website upgrades. We intend to continue to develop our website and software to improve ease of use and “user-friendliness”. Management believes that furtherance of this goal will result in increased “stickiness” of the website, meaning that users will view more pages within the site and voluntarily return to the website more often, both of which should result in sales revenue.

 
Complete and launch second phase of our primary software product. Currently, our feature product called “Personal Organizer 6.0”, www.personalelectronicorganizer.com , has reached the completion stage of the software upgrade and has been released.  This particular product is aimed at the retail consumer market where individuals will find it useful in organizing their daily personal affairs. We plan to further develop this product to extend its application to the corporate market. Specifically, we are considering a time-management and organizer product for the high-level Corporate Executive, as well as a project management product suitable for multiple applications. We are currently in the planning stages for these products.

 
Increase Traffic to our Website. We intend to use both free and paid online and offline promotion opportunities to launch our initial marketing campaign to attract new traffic to our website. Management believes that increased traffic to our website will begin to result in increased revenue. We believe that as we attract more online users to our website that try our free product trials, it will result in sale conversions.

Liquidity and Capital Resources

Overview – Nine Months Ended March 31, 2010
 
For the nine months period ended March 31, 2010, net cash (used) by operating activities was $(11,846). Net cash (used) by operating activities for the nine months period ended March 31, 2009 was $(25,611). Cash (used) by investing activities during the nine months ended March 31, 2010 was $Nil. Net cash (used) by investing activities for the nine months ended March 31, 2009 was $(139). Net cash provided by financing activities for the nine months ended March 31, 2010 was $13,008. Net cash provided by financing activities for the nine months period ending March 31, 2009 was $26,054. For the nine months period ended March 31, 2010 we made no payments to reduce the balance of the outstanding shareholder loan balance.
 
As at March 31, 2010 we had $1,434 in cash, compared to $272 as at the previous year ended June 30, 2009. We had a negative working capital of $(50,517) as at March 31, 2010 compared to a negative working capital of $(50,446) as at the previous year ended June 30, 2009. We will continue to have professional fees which include accounting, auditing, legal, and statutory filing fees, and those fees may increase because of our reporting status and the required filings for requisite quarterly and annual reports with the Securities and Exchange Commission. We are aware that audit fees have generally increased as a function of the increased reporting requirements mandated by the recently enacted Sarbanes-Oxley Act. We anticipate that our business activities will increase, which will require auditing procedures over a greater transaction bas e. 
 
 

 
- 14 -

 


CYBER INFORMATIX, INC.
(A Development Stage Company)
 
 
Other Information - Certain Relationships and Related Transactions

We intend that any transactions between us and our officers, directors, principal stockholders, affiliates or advisors will be on terms no less favorable to us than those reasonably obtainable from third parties. As noted in Note 4 of the Consolidated Financial Statements of March 31, 2010: During the nine months ended March 31, 2009, the principal shareholders provided no additional loans to the company. As of March 31, 2010, the total outstanding balance of the shareholder loans provided by Mr. Donald C. Jones, our Director, President, and Chief Executive Officer, was $47,500. The full amount of this shareholder loan is shown as a current liability on the balance sheet. This shareholder loan carries no interest and has no set terms of principal repayment. The shareholder does not expect to make a specific claim for interest on this loan during the current year or foreseeable future. During the previous fiscal tear ended June 30, 2009, Terry G. Bowering, our Director, Secretary and Treasurer, elected to convert the entire outstanding balance of his shareholder loan ($26,913), to equity, which was credited to Additional Paid-In Capital.
 
Item 3.       Controls and Procedures.

Management has evaluated, with the participation of our Principal Executive Officer and Principal Financial Officer, the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) as of the end of the period covered by this report.  Based upon this evaluation, our Principal Executive Officer and Principal Financial Officer concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were non-effective to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms. This is due to the fact that at this stage we are a small reporting company with limited staff . There have been no significant changes in our internal controls over financial reporting that occurred during the fiscal quarter covered by this report 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.

There are no material pending legal proceedings to which the Company is a party or to which any of its property is subject.

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.
 
 

 
- 15 -

 


CYBER INFORMATIX, INC.
(A Development Stage Company)
 
 
Item 5.       Other Information.
 
None.
 
Item 6.       Exhibits.

 
 
SIGNATURES
 
In accordance with the requirements of the Exchange Act, the Registrant caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
CYBER INFORMATIX, INC.:
(Registrant)
 
Dated:  May 12th, 2010:                                       
 
By:  /s/ Donald C. Jones
Donald C. Jones, Chief Executive Officer
(Principal Executive Officer) Chief Financial Officer,
Chief Accounting Officer (Principal Financial Officer)
Director
 
By:  /s/ Terry G. Bowering
Terry G. Bowering, Secretary, Treasurer,
Director
 
 
 
 
 
 

 


 
- 16 -

 

EX-31.1 2 cyberinfoexh31_1.htm CYBER INFORMATIX 10Q, CERTIFICATION 302 cyberinfoexh31_1.htm

Exhibit 31.1
 
 
CERTIFICATION
 
I, Donald C. Jones, certify that:
 
            1.         I have reviewed this quarterly report on Form 10-Q of Cyber Informatix, Inc.;
 
            2.         Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
            3.         Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
            4.         The small business issuer’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small business issuer and have:
 
                        (a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
                        (b)      Evaluated the effectiveness of the small business issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
                        (c)      Disclosed in this report any change in the small business issuer’s internal control over financial reporting that occurred during the small business issuer’s most recent fiscal quarter that has materially affected, or is reasonable likely to materially affect, the small business issuer’s internal control over financial reporting; and
 
 
 
 
 
 

 
 
 
            5.         The small business issuer’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer’s board of directors (or persons performing the equivalent functions):
 
                        (a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonable likely to adversely affect the small business issuer’s ability to record, process, summarize and report financial information; and
 
                        (b)      Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal control over financial reporting.
 
 
Dated:   May 12th, 2010                                             
 
By:  /s/ Donald C. Jones
Donald C. Jones, Chief Executive Officer
(Principal Executive Officer) Chief Financial Officer,
Chief Accounting Officer (Principal Financial Officer)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 
 

 

EX-32.1 3 cyberinfoexh32_1.htm CYBER INFORMATIX 10Q, CERTIFICATION 906 cyberinfoexh32_1.htm

Exhibit 32.1
 
 
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE
SARBANES-OXLEY ACT OF 2002
 
 
In connection with the Quarterly Report of Cyber Informatix, Inc. (the “Company”) on Form 10-Q for the period ended March 31, 2010, as filed with the Securities and Exchange Commission (the “Report”), the undersigned certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, to the best of the undersigned’s knowledge, that:
 
(1)      The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
 
(2)      The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
 
Dated:   May 12th, 2010                                       
 
By:  /s/ Donald C, Jones
Donald C. Jones, Chief Executive Officer
(Principal Executive Officer) Chief Financial Officer,
Chief Accounting Officer (Principal Financial Officer)
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 
 

 

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