Cytta Corp. Files 10-Q, Reports on Q2 2024

TL;DR

CYTTA 10-Q filed 5/20 for Q ending 3/31. Subsequent events noted 5/8.

AI Summary

Cytta Corp. filed a 10-Q for the period ending March 31, 2024. The company, incorporated in Nevada and headquartered in Las Vegas, NV, is in the pre-packaged software industry. Key events include subsequent events noted on May 8, 2024, related to a fractional CFO and other executive matters, and a filing date of May 20, 2024.

Why It Matters

This filing provides investors with an update on Cytta Corp.'s financial performance and significant business events during the first quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a standard 10-Q, but the limited information provided in the text makes a full risk assessment difficult.

Key Numbers

• 0.001 — Par Value (Common Stock par value)
• 13650000 — Shares Outstanding (Common stock outstanding shares)

Key Players & Entities

• CYTTA CORP. (company) — Filer
• 20240331 (date) — Period of Report
• 20240520 (date) — Filed as of Date
• LAS VEGAS, NV (location) — Business Address
• 7372 (industry_code) — Standard Industrial Classification
• 2024-05-08 (date) — Subsequent Event Date

FAQ

Key Financial Figures

• $0.001 — Section 12(g) of the Act: Common Stock, $0.001 par value Indicate by check mark whet

Filing Documents

• cyca_10q.htm (10-Q) — 1146KB
• cyca_ex311.htm (EX-31.1) — 12KB
• cyca_ex312.htm (EX-31.2) — 12KB
• cyca_ex321.htm (EX-32.1) — 5KB
• 0001477932-24-003165.txt ( ) — 5449KB
• cyca-20240331.xsd (EX-101.SCH) — 66KB
• cyca-20240331_lab.xml (EX-101.LAB) — 317KB
• cyca-20240331_cal.xml (EX-101.CAL) — 35KB
• cyca-20240331_pre.xml (EX-101.PRE) — 278KB
• cyca-20240331_def.xml (EX-101.DEF) — 205KB
• cyca_10q_htm.xml (XML) — 785KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) Balance Sheets as of March 31, 2024, and September 30, 2023 (Unaudited) 3 4 5 7 Notes to Interim Unaudited Financial Statements 8 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 ITEM 4.

Controls and Procedures

Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM 1.

Legal Proceedings

Legal Proceedings 33 ITEM 1A.

Risk Factors

Risk Factors 33 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 ITEM 3. Defaults Upon Senior Securities 33 ITEM 4. Mine Safety Disclosures 33 ITEM 5. Other Information 34 ITEM 6. Exhibits 34 2 Table of Contents CYTTA CORP BALANCE SHEETS (Unaudited) March 31, September 30, 2024 2023 ASSETS Current Assets Cash $ 441,664 $ 674,824 Prepaid expenses 521,204 986,976 Total Current Assets 962,868 1,661,800 Prepaid expenses, non-current 351,109 561,776 Property and equipment, net 56,474 77,558 TOTAL ASSETS $ 1,370,451 $ 2,301,134 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts payable and accrued expenses $ 524,180 $ 546,335 Related party liabilities 680,061 772,532 Dividend payable 33,427 33,427 Deferred revenue - 2,411 Note payable 43,200 40,000 Convertible notes payable, net of discount 1,754,995 1,166,788 Total Current Liabilities and Total Liabilities 3,035,863 2,561,493 COMMITMENTS AND CONTINGENCIES - - Stockholders' Equity (Deficit) Preferred stock par value $ 0.001 ; ( 100,000,000 shares authorized) Series C Preferred Stock par value $ 0.001 ; ( 12,000,000 shares authorized and 600,000 shares issued and outstanding) 600 600 Series D Preferred Stock par value $ 0.001 ; ( 10,000,000 shares authorized and 50,000 shares issued and outstanding) 50 50 Series E Preferred Stock par value $ 0.001 ; ( 13,650,000 shares authorized and - 0 - issued and outstanding) - - Series F Preferred Stock par value $ 0.001 ; ( 10,000,000 shares authorized and - 0 - issued and outstanding) - - Common stock par value $ 0.001 ; ( 500,000,000 shares authorized and 441,946,581 (March 31, 2024) and 426,831,170 (September 30, 2023) shares issued and outstanding) 441,948 426,832 Additional paid in capital 32,543,139 31,915,639 Accumulated Deficit ( 34,651,149 ) ( 32,603,480 )

Notes to Financial Statements

Notes to Financial Statements March 31, 2024 (Unaudited) NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Cytta Corp., ("Cytta" or the "Company") was incorporated on May 30, 2006, under the laws of the State of Nevada. It is located in Las Vegas, Nevada. Cytta is in the business of imagineering, developing and securing disruptive technologies. NOTE 2 - GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2024, the Company had an accumulated deficit of $ 34,651,149 and has also generated losses since inception. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern. The Company's proprietary CyttaCOMMS incident management system offers real-time integration of video and audio streams, enabling improved collaboration and providing ongoing, relevant, actionable intelligence. Their innovative new product, CyttaCARES, is a game-changer in ensuring the safety and well-being of individuals in educational institutions and beyond. Cytta's CyttaCOMP ISTAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance) technology delivers real-time compression of video streams with ultra-low latency, even in low bandwidth environments in conjunction with their compression Licensee Reticulate Micro, Inc. We also offer a combination of technical and consulting services, proprietary software products, hardware products utilizing our software and system integration team to meet the needs of customers. Cytta places extreme value on satisfying our customers' needs with innovative, well-engineered, high-quality products and service solutions. Cytta's proprietary SUPR Intelligence, Surveillance and Reconnaissance (ISR) technology designated CyttaCOMP, is now licensed to Reticulate Micro, Inc., CyttaCOMP, is at the core of our produc

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