Fri, Nov 22, 9:07 PM (11 days ago)
Leopard Energy, Inc. (LEEN), formerly Cyber Apps World Inc., reported a revenue of $4,429 for the fiscal year ending July 31, 2024, following its strategic pivot towards the energy sector, particularly after acquiring a 5% royalty interest in oil wells in Texas. The company incurred a net loss of $252,803, up from a $148,894 loss in 2023, primarily due to increased general and administrative expenses totaling $287,168. Operating losses reached $282,739. Significantly, Leopard Energy's financial condition remains precarious, with current liabilities of $243,346 against current assets of only $6,432, raising doubts about its ability to continue as a going concern. The company has relied heavily on Zenith Energy Ltd., its controlling shareholder, which provided approximately $370,759 in capital since a change in control in August 2023. Looking ahead, Leopard Energy plans to continue acquiring energy assets while facing competitive pressures and the need for additional capital to support its operations. The company’s market position has shifted significantly, emphasizing the energy sector, but it remains vulnerable due to its financial losses and reliance on external financing.