Leopard Energy Reports Modest Revenue Growth and Improved Net Loss in Latest Financial Results

Leopard Energy, Inc., formerly known as Cyber Apps World Inc., reported its financial results for the three months ending October 31, 2024, revealing a modest revenue generation of $1,923, a significant shift from the previous year when the company reported no revenue. The company’s operating expenses decreased to $10,908 from $66,747 in the same quarter of 2023, primarily due to reduced general and administrative costs. Despite the increase in revenue and decrease in expenses, Leopard Energy recorded a net loss of $9,048, an improvement compared to the net loss of $18,571 reported in the prior year.

The company’s total assets increased to $47,573 as of October 31, 2024, up from $45,712 at the end of the previous fiscal year. This growth was driven by the acquisition of a 5% royalty interest in a package of seven producing oil wells in the Eagle Ford Shale, Texas, completed in January 2024. The royalty interest is expected to provide ongoing revenue streams, although the company continues to face challenges, including an accumulated deficit of $11,733,998 and a working capital deficit of $221,962.

Leopard Energy has undergone significant strategic changes since the transfer of control to Zenith Energy Ltd. in August 2023. The company has shifted its focus from mobile application development to energy production and development opportunities in the U.S. This transition is part of a broader strategy to enhance its market position in the energy sector. Zenith Energy has provided substantial financial support, totaling approximately $349,759, to facilitate this transition and ongoing operations.

Operationally, the company has not reported any significant changes in customer counts or user statistics, as its previous business model in mobile applications was not successful in generating revenue. The current focus on energy production is expected to yield different engagement metrics as the company continues to develop its new business model. As of the latest report, the company has maintained a consistent employee headcount of 1,272,917 shares outstanding, with no new shares issued or canceled during the quarter.

Looking ahead, Leopard Energy's management acknowledges the need for additional capital to sustain operations and fund future acquisitions. The company plans to raise funds through equity or debt financing, although it currently lacks arrangements for such financing. Management remains optimistic about its ability to meet obligations in the coming year, contingent on securing necessary funding and generating revenue from its new energy ventures.