Leopard Energy, Inc 10-K for FY2023

Leopard Energy, Inc. (LEEN)

10-K 2023-10-25 For: 2023-07-31

Added on April 06, 2026

About this 10-K

Leopard Energy, Inc filed this 10-K on October 25, 2023, covering the fiscal year ended July 31, 2023 (FY2023).

Headline figures

Fiscal year ended July 31, 2023, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $0; compared with $11 a year earlier
Net income: $2762; compared with a net loss of $1.5M a year earlier

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Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☒
		Emerging growth company	☒

		Page
Cautionary Note Regarding Forward-Looking Statements		3

PART I

Item 1. Business.		4
Item IA. Risk Factors.		7
Item lB. Unresolved Staff Comments.		7
Item 2. Properties.		7
Item 3. Legal Proceedings.		7
Item 4. Mine Safety Disclosures.		7

PART II

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.		8
Item 6. [Reserved].		8
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.		8
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.		11
Item 8. Financial Statements and Supplementary Data.		F-1
Item 9. Changes In and Disagreements With Accountants on Accounting and Financial Disclosure.		12
Item 9A. Controls and Procedures .		12
Item 9B. Other Information.		13
Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections.		13

PART III

Item 10. Directors, Executive Officers and Corporate Governance.		14
Item 11. Executive Compensation.		17
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.		19
Item 13. Certain Relationships and Related Transactions, and Director Independence.		19
Item 14. Principal Accountant Fees and Services.		20

PART IV

Item 15. Exhibits and Financial Statement Schedules.		21
Item 16. Form 10-K Summary.		21
Signatures		22

	·	the software will monitor the employees' computer desktops while they are actually working on the system. Surveillance will commence when an employee logs on to his or her computer through our software and will continue until the employee logs out of the system. After an employee signs out of the software, recording and monitoring will cease and the employee can access his or her computer contents and the Internet for personal purposes;

	·	when the employee is logged in, the software will allow management to maintain real-time access to employee activity and to view each employee's desktop screen content and the keystrokes that the employee is typing. All of this information will also be recorded and stored for future management use with all information time stamped. The file name for each day's recording will be the employee's first name, last name, and the year, month, and day, which will allow a manager to identify the appropriate recording without difficulty;

	·	based on employee actions, the software will calculate the amount of time that the employee was logged into the system based on a searchable time period (e.g., a shift, a week, or a month). It will also indicate the length of various time periods during which the employee did not make any keystrokes on his or her computer; and

	·	allow the manager to quickly access the recording of employee's desktop at the times when keystrokes commenced and stopped. The software will also provide details of the length of each break that the employee takes during the work period analyzed. It will also have tools that the manager can use, in tabular and graphic form, to compare the efficiency of employees in terms of keystrokes and time logged in to their computer.

	(a)	pay $10,000 to the vendor, which amount was paid in August 2023); and

	(b)	pay an amount equal to the estimation of value of a 50% interest in the software and the related data and databases based on an independent business valuation completed by a valuator who is accredited by the American Society of Appraisers and acceptable to both parties less the $10,000 cash payment noted above. The Company is currently evaluating whether to complete the acquisition of the remaining 50% interest in the software.

·	any obligation under certain guaranteed contracts,

·	any retained or contingent interest in assets transferred to an unconsolidated entity or similar arrangement that serves as credit, liquidity or market risk support to that entity for such assets,

·	any obligation under a contract that would be accounted for as a derivative instrument, except that it is both indexed to our stock and classified in shareholder equity in our statement of financial position, and

·	any obligation arising out of a material variable interest held by us in an unconsolidated entity that provides financing, liquidity, market risk or credit risk support to us, or engages in leasing, hedging or research and development services with us.

Reports of Independent Registered Accounting Firms		F-2

Consolidated Balance Sheets as of July 31, 2023, and 2022		F-4

Consolidated Statements of Operations for Years Ended July 31, 2023, and 2022		F-5

Consolidated Statement of Stockholders' Deficiency for the Years Ended July 31, 2023, and 2022		F-6

Consolidated Statements of Cash Flows for the Years Ended July 31, 2023, and 2022		F-7

Notes to Consolidated Financial Statements for the Years Ended July 31, 2023, and 2022		F-8

	2023		2022
ASSETS
Current assets
Cash	$	3	$	320
Prepaid expenses		-		7,652
Total current assets		3		7,972

Other assets
Software development		488,696		414,753
Total other assets		488,696		414,753
Total assets	$	488,699	$	422,724

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable and accrued expenses	$	45,596		$	117,769
Total current liabilities		45,596			117,769
Non-current liabilities
Convertible notes payable		180,686			77,200
Loan payable		11,597			11,597
Total non-current liabilities		192,283			88,797
Total liabilities		237,879			206,566

Commitments and contingencies (Note 7)

Stockholders' equity
Preferred stock, $0.001 par value, 10,000,000 authorized, 100,000 issued and outstanding as of July 31, 2023 and 2022		100			100
Common stock: $0.001 par value, 250,000,000 authorized, 1,272,917 issued and outstanding as of July 31, 2023 and 5,000,000,000 authorized, 807,616,147 issued and outstanding as of July 31, 2022, respectively		506,755			444,701
Additional paid-in capital		10,624,138			10,654,292
Accumulated deficit	(10,880,173		)	(10,882,935		)
Total stockholders' equity		250,820			216,158

Total liabilities and stockholders' equity	$	488,699		$	422,724

	2023			2022
Revenue	$	-		$	11

Operating expenses
General and administrative expenses		74,029			1,498,322
Total operating expenses		74,029			1,498,333

Operating loss		(74,029	)		(1,498,322	)

Other income(expense)
Interest expense		(923	)
Gain on write off of liabilities		77,714
Total other income (expense)		76,791

Net income (loss)	$	2,762		$	(1,498,322	)

Basic and diluted net income (loss) per common share	$	0.00		$	0.00	)
Basic and diluted weighted average common shares outstanding		1,272,917			807,616,147

	Preferred Stock					Common Stock						Additional Paid-in			Shares to be			Accumulated
	Shares		Amount			Shares			Amount			Capital			Issued			Deficit			Total
Balance, July 31, 2021			$			$	388,986,268		$	39,079		$	10,384,113		$	23,000		$	(9,388,089	)	$	1,058,103
Cancellation of shares as of January 31, 2022							(141,000,000	)		(14,100	)											(14,100	)
Common stock issued for cash							559,629,879			419,722			270,179									689,901
Preferred stock issued				100																		100
Shares to be issued		100,000														(23,000	)					(23,000	)
Other																			3,465			3,465
Net loss for the period ended July 31, 2022																			(1,498,311	)		(1,498,311	)
Balance, July 31, 2022		100,000	$	100		$	807,616,147		$	444,701		$	10,654,292		$			$	(10,882,935	)	$	216,158

Balance, July 31, 2022		100,000	$	100		$	807,616,147		$	444,701		$	10,654,292		$			$	(10,882,935	)	$	216,158
Issuance of common stock							98,045,405			62,052			(30,152	)								31,900
Preferred stock issued		200,000		200																		200
Cancellation of common stock							(904,390,639	)
Cancellation of preferred stock		200,000		(200	)																	(200	)
Round up shares							2,004			2			(2	)
Net income for the period ended July 31, 2023																			2,762			2,762
Balance, July 31, 2023		500,000	$	100		1,272,917			$	506,755		10,624,138			$			$	(10,880,173	)	$	250,820

	2023			2022
Cash flows from operating activities:
Net income (loss)	$	2,762		$	(1,498,322	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Impairment loss					1,350,000
Changes in assets and liabilities:
Prepaid expenses					35,000
Accounts payable and accrued expenses		(64,523	)		(102,543	)
Net cash used in operating activities		(61,761	)		(215,865	)

Cash flows from investing activities:
Software development		(73,942	)		(70,866	)
Net cash used in investing activities		(73,942	)		(70,866	)

Cash flows from financing activities:
Change in convertible notes payable		103,486			(392,550	)
Change in loan payable		-			(43,482	)
Shares to be issued		-			(23,000	)
Proceeds from issuance of preferred stock		-			100
Proceeds from issuance of common stock		62,054			405,622
Proceeds from issuance of additional paid-in capital		(30,154	)		270,179
Net cash provided by financing activities		135,386			216,869

Net decrease in cash		(317	)		(69,862	)
Cash at beginning of period		320			70,182

Cash at end of period	$	3		$	320

Cash paid for interest	$	-		$	-
Cash paid for taxes	$	-		$

·	Level 1-defined as observable inputs such as quoted prices in active markets for identical assets or liabilities;

·	Level 2-defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

·	Level 3-defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Classification		Estimated Useful Lives
Furniture and Fixtures		10 years
Software		3-5 years
Computers		5 years

Name	Position	Age		Term of Office

Luca Benedetto	President, Treasurer and Director		52	August 23, 2023, to present

Ippolito Cattaneo	Secretary and Director		29	August 23, 2023, to present

Dario Sodero	Director		81	August 23, 2023, to present

	·	Had a bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time.

	·	Been convicted in a criminal proceeding or been subject to a pending criminal proceeding, excluding traffic violations and other minor offenses.

	·	Been subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities.

	·	Been found by a court of competent jurisdiction (in a civil action), the SEC, or the Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.

	·	Been the subject to, or a party to, any sanction or order, not subsequently reverse, suspended or vacated, of any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Name and Principal Position	Year	Salary ($)		Bonus ($)		Stock Awards ($)		Option Awards ($)		Non- Equity Incentive Plan Compensation ($)		Change in pension value and nonqualified deferred compensation earnings ($)		All Other Compensation ($)		Total ($)
Mohammed Ifran Rafimiya Kazi	2023		0		0		0		0		0		0		0		0
President and CEO⁽¹⁾	2022		0		0		0		0		0		0		0		0
	2021		0		0		0		0		0		0		0		0
Kateryna Malenko	2023		0		0		0		0		0		0		0		0
Secretary⁽¹⁾	2022		0		0		0		0		0		0		0		0
	2021		0		0		0		0		0		0		0		0
William Alessi President, Chief Executive Officer and Secretary⁽²⁾	2023		0		0		0		0		0		0		0		0

	(1)	Mr. Kazi and Ms. Malenko resigned as executive officers and directors of the Company effective July 6, 2023.

	(2)	Mr. Alessi was appointed as an executive officer and director of the Company effective July 6, 2023 and resigned from such positions effective August 23, 2023.

Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership	Percentage of Class

Luca Benedetto	0 shares of common stock		0	%

Ippolito Cattaneo	0 shares of common stock		0	%
Dario Sodero	0 shares of common stock		0	%
All directors and officers as a group (3 persons)	0 shares of common stock		0	%

	·	any director or executive officer;

	·	any immediate family member of a director or executive officer, which means any child, stepchild, parent, stepparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of such director, executive officer and any person (other than a tenant or employee) sharing the household of such director or executive officer;

	·	any person who was in any of the following categories when a transaction in which such person had a direct or indirect material interest occurred or existed:

	·	any person who is known to the registrant to be the beneficial owner of more than five percent of any class of the registrant's voting securities; or

	·	any immediate family member of any such security holder, which means any child, stepchild, parent, stepparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of such security holder, and any person (other than a tenant or employee) sharing the household of such security holder.

Exhibit		Description of Exhibit

3.1		Articles of Incorporation of the Company. (Incorporated herein by reference to Exhibit 3.1 to the Company's Registration Statement on Form SB-2, filed with the Commission on May 7, 2003.)
3.la		Certificate of Change, effective October 23, 2019, providing for a 4-for-l stock split and increase in authorized common stock. (Incorporated herein by reference to Exhibit 3.la to the Company's Amended Annual report on Form 10-K/A, filed with the Commission on August 13, 2020.)
3.1b		Certificate of Designation of Series A Super Voting Preferred Stock, filed herewith.
3.2		By-Laws of the Company. (Incorporated herein by reference to Exhibit 3.2 to the Company's Registration Statement on Form SB-2 filed with the Commission on May 7, 2003.)
31.1		Section 302 Certification, filed herewith.
32.1		Section 906 Certification, filed herewith.

EC Ref. No.		Title of Document
101.INS		XBRL Instance Document
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Label Linkbase Document
101.PRE		XBRL Taxonomy Presentation Linkbase Document

CYBER APPS WORLD, INC.

By:	/s/ Luca Benedetto
	Luca Benedetto
	President and Treasurer (Principal Executive, Financial and Accounting Officer)
	Date: October 25, 2023

1.	I have reviewed this Annual Report on Form 10-K of Cyber Apps World Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c.	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d.	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent quarter (the registrant's fourth quarter) covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

5.	I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant' s board of directors (or persons performing the equivalent functions):

	a.	All significant deficiencies and material weakness in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.