Business Description

Note 1. Organization and Business Description Leopard Energy, Inc. and its subsidiaries (Collectively, the “Company”), was historically engaged in the development of mobile applications focusing on allowing users around the world to save money on products and services from member merchants and suppliers instantly with mobile coupons, using their desktops and/or mobile devices, including smartphones. The Company has not been successful in developing revenue from these operations in its operating history. Name of Entity Incorporation Date Background Ownership Principal activities Leopard Energy, Inc (f/k/a Cyber Apps World Inc.) July 15, 2002 US Company Parent Company Holding Company Zena Oil & Gas LLC June 21, 2023 US Company 100% Owned Oil production and related investments Since the transfer of its controlling interest in August 2023, the Company redirect its business into the energy sector, mainly aiming at investment in royalty interest of energy related petrol and mineral production. The Company has filed an Amendment to its Articles of Incorporation (the “Amendment”) with the Secretary of State of Nevada, changing its name from “Cyber Apps World Inc.” to “Leopard Energy, Inc.” effective April 26, 2024. The financial statements and notes are the representations of management. These accounting policies conform to accounting policies generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements. On August 23, 2023, the original shareholder JanBella Group sold the Series A Preferred Shares to Zenith Energy Ltd. (“Zenith Energy”). Zenith Energy is a British Columbia corporation based in Vancouver, B.C., engaged in energy production projects on three continents, whose shares are traded on the London Stock Exchange and Euronext Oslo. In connection with the share and purchase agreement, it was agreed between the parties that part of the purchase price paid by Zenith would be used by JanBella to settle some outstanding liabilities of Leopard Energy, as it happened. Along with the transition of interest, certain debtors agreed to partially settle their debt due from the company upon partial payment made by JanBella. This resulted in the following gain from extinguishment and settlement of liabilities, recognized in the consolidated financial statements for the year ended July 31, 2024. · Extinguishment of convertible notes $ 8,423 · Extinguishment of debt $ 13,134 · Settlement of account payable $ 11,619 Basis of Presentation The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The Company's functional currency is the USD. Principles of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiary. All intercompany transactions and balances, if any, are eliminated upon consolidation. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power, has the power to appoint or remove the majority of the members of the board of directors, to cast a majority of votes at the meeting of the board of directors or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. Going Concern The accompanying audited consolidated financial statements have been prepared assuming that the Company will continue audited as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. As reflected in the accompanying audited consolidated financial statements, the Company had a profit of $31,835 and a loss of $252,803 during the fiscal year ended July 31, 2025 and 2024, respectively. As of July 31, 2025, the Company had accumulated deficit of $11,693,115 and a working capital deficit of $122,814. Management believes these factors raise substantial doubt about the Company’s ability to continue as a going concern for the next twelve months. Management recognized 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.…