Thu, Nov 21, 9:55 PM (81 days ago)
Leopard Energy, Inc. (ticker: CYAP) reported a net loss of $18,571 for the quarter ending October 31, 2023, a slight improvement from a loss of $23,758 in the same quarter of 2022. The company did not generate any revenue during this period. Total operating expenses surged to $66,747, primarily driven by general and administrative costs and negotiating expenses. The company recorded other income of $48,176 due to the write-off of loans and convertible notes following a change in control transaction with Zenith Energy Ltd., which has provided significant working capital. As of October 31, 2023, total assets amounted to $13,564, with current liabilities of $81,281, reflecting a significant reduction from previous liabilities due to the aforementioned write-offs. The accumulated deficit stands at $11,490,718, raising concerns about the company’s ability to continue as a going concern without additional financing. This quarterly report is an amendment (10-Q/A) reflecting restated financial statements due to prior misstatements regarding intangible asset valuations and equity. The company's future operations will focus on energy production, following its strategic shift post-acquisition by Zenith Energy. The company’s liquidity is heavily reliant on continued support from Zenith Energy for ongoing operations and potential acquisitions.