Leopard Energy Inc. Files 2024 10-K

TL;DR

Leopard Energy (CYAP) filed its 2024 10-K. Swiss HQ, consulting biz.

AI Summary

Leopard Energy, Inc. filed its 10-K for the fiscal year ending July 31, 2024. The company, formerly known as Cyber Apps World, is incorporated in Nevada and operates in management consulting services. Its business address is in Lugano, Switzerland.

Why It Matters

This filing provides a comprehensive overview of Leopard Energy's financial performance and business operations for the past fiscal year, crucial for investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a standard annual report with no immediate red flags or significant negative disclosures.

Key Numbers

• 0731 — Fiscal Year End (Indicates the end of the reporting period for the 10-K.)
• 2024 — Fiscal Year (The year covered by the 10-K filing.)

Key Players & Entities

• Leopard Energy, Inc. (company) — Filer of the 10-K
• Cyber Apps World (company) — Former name of Leopard Energy, Inc.
• 20240731 (date) — Fiscal year end
• 20241122 (date) — Filing date
• Lugano, Switzerland (location) — Business and mailing address

FAQ

Key Financial Figures

• $0.001 — g) of the Act: Common Stock, par value $0.001 (Title of class) Indicate by check m
• $398,400 — ella for consideration of approximately $398,400. As part of the transaction, William Al
• $325,759 — r controlling stockholder, has provided $325,759 capital in the form of payment made on
• $45,000 — yment made on behalf of the Company and $45,000 paid in capital in cash. Zenith Energy
• $4,429 — July 31, 2024, we generated revenues of $4,429 from the royalty interest we acquired i
• $286,729 — Company incurred operating expenses of $286,729, as compared to expenses of $139,430 du
• $139,430 — of $286,729, as compared to expenses of $139,430 during the fiscal year ended July 31, 2
• $252,803 — ded July 31, 2024, we had a net loss of $252,803, primarily to professional services und
• $148,894 — nounced to its credit. Our net loss of $148,894 for the year ended July 31, 2023, consi
• $6,432 — , 2024, our current assets consisted of $6,432 in cash, as compared to $3 in case at J
• $3 — isted of $6,432 in cash, as compared to $3 in case at July 31, 2023 and deposits $
• $6,429 — 3 in case at July 31, 2023 and deposits $6,429, as compared to $ Nil at July 31, 2023.
• $154,323 — t cash used in operating activities was $154,323, consisting of our net loss for the per
• $131,656 — 3, increased by the accounts payable of $131,656 and decreased by a convertible notes wr
• $8,423 — sed by a convertible notes write-off of $8,423, a loan payable write-off of $13,134, a

Filing Documents

• cyap_10k.htm (10-K) — 526KB
• cyap_ex31c.htm (EX-3.1C) — 1KB
• cyap_ex311.htm (EX-31.1) — 12KB
• cyap_ex312.htm (EX-31.2) — 12KB
• cyap_ex321.htm (EX-32.1) — 4KB
• cyap_ex322.htm (EX-32.2) — 4KB
• cyap_ex31img2.jpg (GRAPHIC) — 180KB
• cyap_10kimg2.jpg (GRAPHIC) — 8KB
• cyap_ex31img1.jpg (GRAPHIC) — 245KB
• 0001477932-24-007579.txt ( ) — 3174KB
• cyap-20240731.xsd (EX-101.SCH) — 29KB
• cyap-20240731_lab.xml (EX-101.LAB) — 157KB
• cyap-20240731_cal.xml (EX-101.CAL) — 31KB
• cyap-20240731_pre.xml (EX-101.PRE) — 121KB
• cyap-20240731_def.xml (EX-101.DEF) — 40KB
• cyap_10k_htm.xml (XML) — 291KB

Business

Item 1. Business. 5 Item IA. Risk Factors. 5 Item lB. Unresolved Staff Comments. 5

Properties

Item 2. Properties. 5

Legal Proceedings

Item 3. Legal Proceedings. 5

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 5 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 5

[Reserved]

Item 6. [Reserved]. 5

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. 6

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 8

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data. 9

Changes In and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure. 10

Controls and Procedures

Item 9A. Controls and Procedures . 10

Other Information

Item 9B. Other Information. 11

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections. 11 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance. 12

Executive Compensation

Item 11. Executive Compensation. 14

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 14

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence. 15

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services. 15 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules. 17

Form 10-K Summary

Item 16. Form 10-K Summary. 17

Signatures

Signatures 18 2 Table of Contents As used in this Annual Report on Form 10-K (this "Report"), and unless otherwise indicated, the terms "the Company," "Leopard Energy, "we," "us" and "our" refer to Leopard Energy, Inc. and its subsidiaries. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Report") for the Company, contains forward-looking statements, including, without limitation, in the sections captioned "Item 1. Business" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," as well as elsewhere in this Report. Any and all statements contained in this Report that are not statements of historical fact may be deemed forward-looking statements. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "pro-forma," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future" and terms of similar import (including the negative of any of the foregoing) may be intended to identify forward-looking statements. Not all forward-looking statements, however, may contain one or more of these identifying terms. Forward-looking statements in this Report may include, without limitation, statements regarding (i) the plans and objectives of management for future operations; (ii) a projection of income, earnings per share, capital expenditures, dividends, capital structure or other financial items; (iii) the Company's future financial performance, including any such statement contained in a discussion and analysis of financial condition by management or in the results of operations included pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"); and (iv) the assumptions underlying or relating thereto. The forward-looking statements are neither historical facts nor assurances of future performance and are not meant to predict or guarantee actual re

Business

Item 1. Business. Background Leopard Energy (f/k/a Cyber Apps World Inc.) was incorporated on July 15, 2002, under the laws of the State of Nevada and engaged in a number of businesses until April 9, 2015, at which we merged with our wholly owned subsidiary Cyber Apps World Inc. and concurrently changed our name to Cyber Apps World Inc. At the time of the merger, we shifted our business focused to the development of mobile applications focusing on allowing users around the world to save money on products and services from member merchants and suppliers instantly with mobile coupons, using their desktops and/or mobile devices, including smartphones. On July 6, 2023, JanBella Group, LLC ("JanBella Group"), a family office, acquired 100,000 outstanding shares of Super A Voting Preferred Stock (the "Series A Preferred Shares") in satisfaction of a promissory note made by the Company in favor of JanBella Group. The Series A Preferred Shares had been pledged to secure a note made by the Company to JanBella. Thereupon, Mohammed Irfan Raimiya Kazi, the Company's Chief Executive Officer and a director and Kateryna Malenko, the Company's Secretary and a director, resigned as officers and directors of the Company and William Alessi, an affiliate of JanBella Group, was appointed the sole officer and director of the Company. The Series A Preferred Shares entitle the holder thereof to 99.97% of the voting power of the Company. On August 23, 2023, JanBella Group sold the Series A Preferred Shares to Zenith Energy Ltd. ("Zenith Energy"). Zenith Energy is a publicly held British Columbia corporation based in Vancouver, B.C., engaged in energy production projects on three continents, whose shares are traded on the London Stock Exchange, Euronext Oslo and the Pink tier of the over-the-counter market maintained by OTC Markets Group, Inc.. In the change in control transaction, Zenith Energy acquired the 100,000 Series A Preferred Shares, representing 99.87% of the voting power of

Properties

Item 2. Properties. We do not own or lease any real property.

Legal Proceedings

Item 3. Legal Proceedings. We have no knowledge of any material, active or pending proceeding against us or our subsidiaries, nor are we, or any subsidiary, involved as a plaintiff or defendant in any material proceeding or pending litigation.

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. None. PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Market Information Our Common Stock is currently quoted on the Pink tier of the over-the-counter market maintained by OTC Markets Group, Inc., under the symbol "LEEN." However, there is currently only a limited trading market for the Common Stock and there is no assurance that a regular trading market will ever develop. Holders As of the date of this Report there were 36 holders of record of our Common Stock, based on information provided by the Company's transfer agent. The holders of Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. Securities Authorized for Issuance Under Equity Compensation Plans None.

[Reserved]

Item 6. [Reserved]. 5 Table of Contents

Management's Discussion and Analysis of our Financial Conditions and Results of Operations

Item 7. Management's Discussion and Analysis of our Financial Conditions and Results of Operations. The following discussion should be read in conjunction with our consolidated financial statements and notes to our consolidated financial statements, included in "Item 8. Financial Statements and Supplementary Data." of this Report. Results of Operations For the year ended July, 2024 ($) 2023 ($) Revenues 4,429 - General and administrative expenses (287,168 ) (139,430 ) Operating loss (282,739 ) (139,430 ) Total other income (expense) 29,936 (9,464 ) Net loss (252,803 ) (148,894 ) For the year ended July 31, 2024, we generated revenues of $4,429 from the royalty interest we acquired in the Eagle Acquisition consummated in January 2024. The royalty interest provides the Company with a monthly distribution of its share or revenues from the property, net of expenses and operational risks, from an oil production property managed by a non-affiliated third party. We had no revenues for the year ended July 31, 2023. During the fiscal year ended July 31, 2024, the Company incurred operating expenses of $286,729, as compared to expenses of $139,430 during the fiscal year ended July 31, 2023. The majority of the expenses consisted of general and administrative expenses, which includes professional services. For the year ended July 31, 2024, we had a net loss of $252,803, primarily to professional services under general and administrative expenses. All the expenses were paid by our controlling stockholder Zenith Energy, who renounced to its credit. Our net loss of $148,894 for the year ended July 31, 2023, consisted entirely of general and administrative expenses. 6 Table of Contents Liquidity and Capital Resources At July 31, 2024 ($) At July 31, 2023 ($) Cash 6,432 3 Total current assets 6,432 3 Non current assets 39,280 - Current liabilities (Accounts payable) 243,346 123,309 As of July 31, 2024, o

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. As a " smaller reporting company " we are not required to provide this information. 8 Table of Contents

Financial Statements and Supplementary Data (PCAOB 50909)

Item 8. Financial Statements and Supplementary Data (PCAOB 50909). LEOPARD ENERGY, INC. F/K/A CYBER APPS WORLD INC. July 31, 2024 and July 31, 2023 Index to Financial Statements Page Report of Independent Registered Accounting Firm (PCAOB ID 1171) F-1 Consolidated Balance Sheets as of July 31, 2024, and 2023 F-2 Consolidated Statements of Operations and Comprehensive Loss for Years Ended July 31, 2024, and 2023 F-3 Consolidated Statement of Changes in Shareholder's Deficit for the Years Ended July 31, 2024, and 2023 F-4 Consolidated Statements of Cash Flows for the Years Ended July 31, 2024, and 2023 F-5

Notes to Consolidated Financial Statements for the Years Ended July 31, 2024, and 2023

Notes to Consolidated Financial Statements for the Years Ended July 31, 2024, and 2023 F-6 9 Table of Contents REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To: The Shareholders and the Board of Directors of Leopard Energy, Inc. Opinion on the Financial Statements We have audited the accompanying consolidated balance sheet of Leopard Energy, Inc and its Subsidiaries (collectively, "the Company") as of July 31, 2024, and the related consolidated statements of operations and comprehensive loss, changes in shareholders' deficit, and cash flows for the year ended July 31, 2024, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of July 31, 2024, and the results of its operations and its cash flows for the year ended July 31, 2024, in conformity with accounting principles generally accepted in the United States of America. Substantial Doubt about the Company's Ability to Continue as a Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company incurred substantial losses during the years ended July 31, 2024 and 2023. As of July 31, 2024, the Company had a working capital deficit. Accordingly, these factors give rise to substantial doubt that the Company will be able to continue as a going concern. Management closely monitors the Company's financial position and has prepared a plan that is found in Note 1 that addresses this substantial doubt. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a

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