10-Q: Leopard Energy Reports Q3 2026 Results, Focuses on Energy Sector

Leopard Energy, Inc. filed its Form 10-Q for the quarter ended April 30, 2026, detailing a net loss and continued reliance on controlling stockholder for funding as it pivots to energy investments.

Summary

• Leopard Energy, Inc. (formerly Cyber Apps World Inc.) has filed its quarterly report for the period ending April 30, 2026.
• The company reported a net loss of $8,966 for the nine months ended April 30, 2026, compared to a net profit of $52,869 for the same period in 2025.
• Revenue for the nine months ended April 30, 2026, was $3,804, primarily from a royalty interest in an oil production property acquired in January 2024.
• Operating expenses for the nine months ended April 30, 2026, were $12,500, mainly consisting of general and administrative expenses, including professional services.
• The company has an accumulated deficit of $11,702,081 and a working capital deficit of $102,280 as of April 30, 2026.
• Management acknowledges substantial doubt about the company's ability to continue as a going concern for the next twelve months.
• The company has transitioned its business focus to the energy sector, specifically investing in royalty interests of energy-related production.
• Zenith Energy Ltd., the controlling stockholder, has provided approximately $417,508 in capital and $45,000 in cash, and intends to continue financing operations.
• Disclosure controls and procedures were found to be not effective as of April 30, 2026, due to material weaknesses in internal controls over financial reporting.

Sentiment

Score: 2

Explanation: StockSavvy.ai views this filing as having a very negative sentiment due to the reported net loss, significant accumulated deficit, working capital deficit, and the explicit statement of substantial doubt regarding the company's ability to continue as a going concern.

Positives

• Revenue from the acquired royalty interest in the Eagle Ford Shale property generated $3,804 in the nine months ended April 30, 2026.
• Cash increased to $15,652 as of April 30, 2026, from $12,118 as of July 31, 2025.
• The controlling stockholder, Zenith Energy Ltd., has indicated its intention to continue providing financial support.
• The company has successfully acquired a 5% royalty interest in a package of seven producing oil wells.

Negatives

• The company incurred a net loss of $8,966 for the nine months ended April 30, 2026.
• The company has an accumulated deficit of $11,702,081 as of April 30, 2026.
• A working capital deficit of $102,280 exists as of April 30, 2026.
• Management has identified substantial doubt about the company's ability to continue as a going concern.
• Disclosure controls and procedures were determined to be not effective as of April 30, 2026.
• Revenue decreased to $3,804 for the nine months ended April 30, 2026, from $4,752 for the same period in 2025.

Risks

• Substantial doubt exists regarding the company's ability to continue as a going concern for the next twelve months due to accumulated deficits and working capital deficiencies.
• The company's continued existence is dependent on obtaining needed working capital through additional equity and/or debt financing.
• There is no guarantee that the company will be successful in arranging financing on acceptable terms.
• Market factors may make the timing, amount, terms, or conditions of additional financing unavailable.
• The company has not been successful in developing revenue from its historical mobile application operations.
• The effectiveness of disclosure controls and procedures was found to be not effective, indicating potential risks in timely and accurate financial reporting.

Future Outlook

The company expects to require additional capital to meet long-term operating requirements and plans to raise this through the sale of equity or debt securities. Zenith Energy, the controlling stockholder, has indicated its intention to continue providing working capital to fund operations and acquisitions pending receipt of additional funding.

Management Comments

• Management believes that the company's continued existence is dependent upon its ability to obtain needed working capital through additional equity and/or debt financing and revenue to cover expenses as the company continues to incur losses.
• Management believes these factors raise substantial doubt about the Company's ability to continue as a going concern for the next twelve months.
• Management believes it is more likely than not that the Company can meet its obligations as they become due within one year from the reporting date and can continue as a going concern.
• The company's Chief Executive Officer and President and Chief Financial Officer concluded that disclosure controls and procedures were not effective as of April 30, 2026.

Industry Context

StockSavvy.ai notes that Leopard Energy's pivot to the energy sector, specifically focusing on royalty interests in oil production, aligns with a trend of companies seeking stable, income-generating assets. However, the company's significant accumulated deficit and reliance on its controlling stockholder for funding present substantial challenges in this capital-intensive industry.

Corporate Governance

Legal Proceedings

• The company is not currently involved in any litigation that it believes could have a material adverse effect on its financial condition or results of operations.

Related Party Transactions

• Zenith Energy Ltd., the controlling stockholder, has provided approximately $417,508 in capital in the form of payments made on behalf of the Company and $45,000 in cash paid-in capital.

Stakeholder Impact

• Shareholders: The company's financial struggles and going concern issues may negatively impact share value. Continued reliance on controlling stockholder for funding could dilute existing shareholders if equity is issued.
• Creditors: The working capital deficit and going concern issues could raise concerns for creditors regarding timely repayment of obligations.
• Employees: Uncertainty surrounding the company's financial stability could impact employee morale and job security.
• Suppliers: Potential for delayed payments due to financial strain.

Next Steps

• Continue to seek additional equity and/or debt financing.
• Pursue further acquisitions in the U.S. energy sector.
• Monitor cash on hand, future revenue generation, and operating/capital expenditure commitments.
• The company will continue to be financed by its controlling stockholder, Zenith Energy, until additional financing is secured.

Key Dates

Recommendation

The company exhibits significant financial distress, including a net loss, substantial accumulated deficit, and explicit concerns about its ability to continue as a going concern. While it has pivoted to the energy sector and has a supportive controlling stockholder, the lack of profitability, ongoing funding needs, and ineffective disclosure controls present considerable risks that outweigh potential upside for investors at this stage.

Keywords

Leopard Energy, SEC Filing, 10-Q, Quarterly Report, Energy Sector, Royalty Interest, Oil Production, Going Concern, Financial Statements, Accumulated Deficit, Zenith Energy