Cytta Corp. Files Q3 2024 10-Q

TL;DR

CYTTA 10-Q filed: Financials for Q3 2024 are in. Check it out.

AI Summary

Cytta Corp. filed a 10-Q for the period ending June 30, 2024. The filing details their financial performance and business operations. Key financial data and corporate actions are presented within this report.

Why It Matters

This filing provides investors and stakeholders with an update on Cytta Corp.'s financial health and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the company's specific financial details and operational risks are not fully elaborated in the provided snippet, necessitating further review.

Key Numbers

• $0.001 — Par Value (Common Stock par value)
• 13650000 — Shares Authorized (Common Stock authorized shares)
• 12000000 — Shares Outstanding (Common Stock outstanding shares)

Key Players & Entities

• CYTTA CORP. (company) — Filer
• 06 Technology (company) — Organization Name
• NV (location) — State of Incorporation
• 20240630 (date) — Conformed Period of Report
• 20240819 (date) — Filed as of 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) — 1233KB
• cyca_ex311.htm (EX-31.1) — 12KB
• cyca_ex312.htm (EX-31.2) — 12KB
• cyca_ex321.htm (EX-32.1) — 5KB
• 0001477932-24-005117.txt ( ) — 5803KB
• cyca-20240630.xsd (EX-101.SCH) — 66KB
• cyca-20240630_lab.xml (EX-101.LAB) — 332KB
• cyca-20240630_cal.xml (EX-101.CAL) — 37KB
• cyca-20240630_pre.xml (EX-101.PRE) — 293KB
• cyca-20240630_def.xml (EX-101.DEF) — 213KB
• cyca_10q_htm.xml (XML) — 814KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1

Financial Statements (Unaudited)

Financial Statements (Unaudited) Balance Sheets as of June 30, 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 31 ITEM 4.

Controls and Procedures

Controls and Procedures 31

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 34 ITEM 4. Mine Safety Disclosures 34 ITEM 5. Other Information 34 ITEM 6. Exhibits 35 2 Table of Contents CYTTA CORP BALANCE SHEETS (Unaudited) June 30, September 30, 2024 2023 ASSETS Current Assets Cash $ 1,717,203 $ 674,824 Prepaid expenses 629,087 986,976 Total Current Assets 2,346,290 1,661,800 Prepaid expenses, non-current 245,776 561,776 Property and equipment, net 61,161 77,558 TOTAL ASSETS $ 2,653,227 $ 2,301,134 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts payable and accrued expenses $ 579,226 $ 546,335 Related party liabilities 576,186 772,532 Dividend payable 33,427 33,427 Deferred revenue 4,162 2,411 Note payable 43,200 40,000 Convertible notes payable, net of discount 1,311,799 1,166,788 Total Current Liabilities and Total Liabilities 2,548,000 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 ; ( 600,000,000 shares authorized and 467,318,268 (June 30, 2024) and 426,831,170 (September 30, 2023) shares issued and outstanding) 467,320 426,832 Additional paid in capital 35,742,183 31,915,639 Accumulated Deficit ( 36,104,926 ) ( 32,603,4

Notes to Financial Statements

Notes to Financial Statements June 30, 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 June 30, 2024, the Company had an accumulated deficit of $ 36,104,926 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 products

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View this 10-Q filing on SEC EDGAR