Cyber Apps World Inc (OTCBB:CYAP), Begins Spin-Off Process After Subsidiary's Acquisition Of Recently Acquired WarpSpeedTaxi App
*Company Is Contemporaneously Heading Down Two Parallel Paths To Both Complete The App and Have Regulatory Structure In Place At Same Time On Expedited Schedule Enabling The Company To Issue All CYAP Shareholders Additional Shares In New Public Subsidiaries*
*LAS VEGAS, NV / ACCESSWIRE / December 10, 2020 /* Cyber Apps World Inc. (OTC PINK:CYAP), a company that intends to focus on using strategic investment strategies to fund, incubate, launch, and grow profitable, multiple businesses as wholly-owned subsidiaries and then spin them off, which will enable the company to issue all CYAP shareholders additional shares in new public subsidiaries in a number proportional to their percentage interest in the stock of Cyber Apps, today announced that it has begun to take the initial steps in the process to ultimately conduct its first spin-off of a wholly owned subsidiary which will start the process to issue the Company's shareholders additional equity on a regular basis.
Last week (OPTION: "Recently") the Company announced that its newly created and wholly-owned subsidiary, Warp Speed Taxi, Inc., has entered into an agreement to purchase the WarpSpeedTaxi App from its developer. The Company is contemporaneously heading down two parallel paths to both finalize the App and initiate its plan to have its subsidiary file a registration statement with the U.S. Securities Commission with a view to having the subsidiary's shares trade publicly.
Mohammed Irfan Rafimiya Kazi, the company's President said: "We want to commence the process for our initial spin-off and pursue additional acquisitions in order to increase shareholder value beyond this initial transaction. We want to have a series of spin-offs in the pipeline at all times so that we hopefully are spinning-off subsidiaries and will be issuing additional equity to our shareholders on a regular basis. We expect that while this first spin-off is proceeding, we will begin the acquisition and regulatory process for additional subsidiaries so that we are conducting multiple spin-offs at any given time."
As the Company's progresses in this venture, it will be updating its shareholders as subsidiary registration statements are filed and when the App is launched, and on what date or dates are the cut-offs for shareholders to be considered a "Shareholder of Record" for them to receive shares in each new public subsidiary in a number proportional to their percentage interest in the stock of Cyber Apps.
*About Warp Speed Taxi Inc.*
Warp Sped Taxi Inc. is "The next generation ride-hailing of taxi service"
WarpSpeedTaxi App offers ride-hailing passenger transportation and delivery service through a smartphone-based app.
Among ride-hailing services, WarpSpeedTaxi offers 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 chauffur-driven cars at the best fares allowing passengers to book cars by hour and km. WarpSpeedTaxi 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, WarpSpeedTaxi targets 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 corporate segment, mainly Restaurants, have to give away big margins for deliveries to Apps like UberEats, Zomatoe, Skip the dishes etc. Restaurants have to currently give 25% to 30% for this service. With WarpSpeedTaxi that will get a corporate discount along with the actual cost of such a ride and usually end up costing 10% to 15% of the order. This 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 WarpSpeedTaxi (with a bigger target market then just customer pick and drop off).
*About WarpSpeedTaxi App.*
WarpSpeedTaxi includes 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/warpspeedtaxi/.
*About Cyber Apps World Inc.*
Cyber Apps World, Inc. is a company that is dedicated to acquiring and developing a worldwide ecommerce 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 go to: 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, Nature Consulting, 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
*SOURCE:* Cyber Apps World Inc.
View source version on accesswire.com:
https://www.accesswire.com/620137/Cyber-Apps-World-Inc-OTCBBCYAP-Begins-Spin-Off-Process-After-Subsidiarys-Acquisition-Of-Recently-Acquired-WarpSpeedTaxi-App