WESTGATE ACQUISITIONS CORPORATION

Notes to Financial Statements

September 30,March 31, 2017 and December 31, 2016

(Unaudited)

NOTE 1 - CONDENSED FINANCIAL STATEMENTS

The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2016,March 31, 2017, and for all periods presented herein, have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 20152016 audited financial statements.  The results of operations for the periods ended September 30,March 31, 2017 and 2016 and 2015 are not necessarily indicative of the operating results for the full years.

NOTE 2 - GOING CONCERN

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

         NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.

WESTGATE ACQUISITIONS CORPORATION

Notes to Financial Statements

September 30,March 31, 2017 and December 31, 2016

(Unaudited)

         NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Recent Accounting Pronouncements

The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position or statements.

            NOTE4 - RELATEDRELATED PARTY TRANSACTIONS

The Company has recorded expenses paid on its behalf by shareholders as a related party note payable. The note bears interest at ten10 percent, per annum, is unsecured and is due and payable upon demand. The balance of this payable totaled $146,184$155,264 and $131,944 atSeptember 30, 2016atMarch 31, 2017, and December 31, 2015,2016, respectively.  AccruedThe balance in interest accrued on the note totaled $62,160$68,853 and $52,554$55,657 at September 30, 2016March 31, 2017 and December 31, 2015,2016, respectively.

NOTE 5 – CONTRIBUTED SERVICES

During the nine-month periodsthree months ended September

 30,March 31, 2017 and 2016, and 2015, the Company’s sole officera related-party has contributed various administrative services to the Company. These services include basic management and accounting services, and utilization of office space and equipment. These services have been valued at $6,000 annually or $4,500$1,500 for each period ended March 31, 2017 and 2016.

NOTE 6 – SIGNIFICANT EVENTS

On December 12, 2013 the nine-month periods ended September 30, 2016purchase of the mining claims was consummated and 2015.the Company formally issued and released the 1,000,000 shares of common stock.  The mining claims were valued at the most recent cash sale price of the Company’s common stock of $0.00002 per share, resulting in a total value of $17.  On December 31, 2013 the Company determined indicators of impairment existed, and based on its cash flows assessment on that date, determined an impairment loss should be recorded in the amount of $17.

NOTE 67 – SUBSEQUENT EVENTS

In accordance with ASC 855-10 Company management reviewed all material events through the date of this report and determined that there are no material subsequent events to report.

Item 2.

 Management's Discussion and Analysis of Financial Condition and Results of Operations

The following information should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this Form 10-Q.

Westgate Acquisitions Corporation (“Westgate” or the “company”) is an exploration stage company reflecting its acquisition of certain mining and/or mineral claims. The company intendsplans to implement itsan initial exploration program to identify a mineral deposit as necessary funding is secured. Ongoing operating expenses, including preparing and filing this and other reports with the SEC, have historically been paid for by advances from stockholders.  We anticipate that necessary future funds for operations and to maintain corporate viability will most likely be provided by officers, directors or principal stockholders or from private sales of securities, either debt or equity.  However, there is no assurance that we will be able to realize such funds on terms favorable to the company, or at all.

Results of Operations

For the three months ended September 30, 2016March 31, 2017 compared to the three months ended September 30, 2015.March 31, 2016.

Westgate hasWe have not recorded revenues since inception.  During the three-month period ended September 30, 2016March 31, 2017 (“thirdfirst quarter”), we incurred a net loss of $9,030$13,820 compared to an $11,179a $6,775 loss during the comparable 2015 third2016 first quarter.  The decreasedincrease in net loss was due primarilypartially to the decreaseincrease in general and administrative expenses from $8,160$3,672 for the thirdfirst quarter of 20152016 to $5,751$7,127 for the thirdfirst quarter 2016, which is2017, attributed to the decreaseincrease in professional and accounting expenses. The decreasedincreased net loss was partially offset byalso due to the increase in interest expense from $3,019 for the third quarter of 2015 to $3,279 for the third quarter 2016, due to interest on increased loans from stockholders.

For the nine months ended September 30, 2016 compared to the nine months ended September 30, 2015.

During the nine-month period ended September 30, 2016 (“first nine months”), we incurred a net loss of $32,723 compared to a $39,343 loss during the comparable first nine months of 2015.  The decreased net loss was also due primarily to the decrease in general and administrative expenses from $30,408$3,103 for the first nine monthsquarter of 20152016 to $23,117$6,693 for the first nine months of 2016, reflecting the decrease in professional and accounting expenses. The decreased net loss was partially offset by the increase in interest expense from $8,935 for the first nine months of 2015 to $9,606 for the first nine months of 2016, attributedquarter 2017, due to interest on increased loans from stockholders.

Liquidity and Capital Resources

At September 30, 2016,March 31, 2017, we had total assets consisting solely of cash of $256,$246, compared to cash of $3,778$1,686 at December 31, 2015.2016.  The decrease in cash is attributed to the payment of ongoing operating expenses during the first nine monthsquarter of 2016. Company funds have historically been derived from stockholder loans.

At September 30, 2016,March 31, 2017, we had total current liabilities of $219,219,$231,967, compared to current liabilities of $194,518$197,701 at December 31, 2015.2016.  The increase in liabilities is primarily attributed to ongoing professional fees and additional loans from stockholders to pay for expenses. At September 30, 2016March 31, 2017 we had a note payable - related party of $146,184,$155,264, compared to $131,944 at December 31, 2015,2016, which increase represents additional loans from stockholders.  Accrued interest on the related party note payable increased from $52,554$55,657 at December 31, 20152016 to $62,160$68,853 at September 30, 2016,March 31, 2017, attributed to ongoing interest on the increase in debt.  Also,The increase in current liabilities was partially offset by a decrease in accounts payable of $10,020from $10,100 at December 31, 2015 increased slightly2016 to $10,875$7.850 at September 30, 2016.March 31, 2017, which reflects payments made to creditors during the quarter. Expenses incurred during the first nine months of 2015 and first nine months of 2016quarter 2017 have been paid for by stockholders.  

Because of our limited cash reserves and no operating revenues, we

We expect that ongoing expenses willto continue to be paid by stockholder loans until such time as we can successfully find an acceptable source of outside funding.funding or begin to realize revenues from operations. There iscan be no assurance that our stockholders will continue indefinitely to provide additional funds or continue to pay our expenses.  Until we can begin to realize revenue from operations, it is likely that the only other source of funding future operationsour ongoing business will be through the private sale of securities, either equity or debt.  

At September 30, 2016,March 31, 2017, we had a stockholders’ deficit of $218,963$231,720 compared to a stockholders' deficit of $190,740$196,015 at December 31, 2015.2016.  This increase in stockholders' deficit is attributed to ongoing business expenses, particularly legal and accounting costs, and increases in notes payable-related party and the interest thereon reflecting additional loans from stockholders.

We believe that our current cash and additional loans from stockholderswe will be sufficientneed to raise addition funds to carry on general operations for the next three months. We expect thatThese funds will most likely come from additional loans from stockholders.  In the future, we will we will need to raise additional funds most likely from the sale of securities or from stockholder loans, to be able to execute phase one of our exploration program. We believe the most likely source of these funds will be the sale of securities. We may not be successful in our efforts to obtain equity financing to carry out our business plan and there is doubt regarding our ability to complete our planned exploration program.  We estimate that in addition to cash on hand, we will require an additional $25,000$50,000 to execute phase one of our exploration program through the end of 2016.2017.

Plan of Operation

We have acquired for stockhold certain mining and/or mineral claims and/or leases located in Lincoln County, New Mexico. Accordingly, we are considered an exploration stage mining company, which is defined as a company engaged in the search for mineral deposits or reserves of precious and base metal targets, which are not in either the development or production stage. We have no known mineral reserves on our properties and our proposed preliminary studies of the Claimsour claims is intended to be exploratory in nature.

Our current plan of operation reflects our objectives and anticipated growth for the next 12 months and beyond, identifying cash requirements to fulfill our business objectives. We will need to raise additional funds duringDuring the next 12 monthscurrent fiscal year we anticipate needing approximately $75.000 to complete our planned exploration commitmentscommitments. Phase one of our exploration plan is intended to define possible mineralized zones on our properties, which will further define potential drill targets. We will seek a mineral exploration report from a qualified, licensed geologist, which will describe in detail all of the exploration data, testing results and all other operations performed on the properties as well as a definitive further exploration program with suggested costs to pay for general businessenter into and operating expenses. We believe current funds and potential loans from stockholders are sufficient to cover general and administrative expenses for at leastperform the next three months.  However,phase of the expected exploration. We estimate that exploration expenditures to complete the phase one will be approximately $50,000. Results of each phase of our proposed exploration will be assessed to determine whether the results warrant further work. If exploration results on the initial phases do not warrant drilling or further exploration, we estimatewill likely suspend operations on the property. We would then have to seek additional exploration properties and additional funding with which to conduct the work. In the event that we are unable to obtain additional financing or additional properties, we may not be able to continue active business operations.

Phase two, depending on the results of phase one, will consist of refining target locations, commencing trenching, and obtaining metallurgical samples for milling and processing tests. Upon assessing the results, we will rank target sits, investigate possible mills, and securing necessary options and permits. Management estimates that we will need additional funds to complete requisite initial geological reports as well as up to an additional $60,000 during the next twelve months$25,000 to complete phase two, including the second phase of explorationcost to exercise the option to acquire additional claims and to commence an exploratory drilling program.  Management plansgeneral expenses. We intend to explore a possible private placement of our securities and/or debt financing to raise the additional fund, although no definitive plan has been formulated and there can be no assurance that we will be able to realize the necessary funds.

If we are able to complete our planned initial exploration programs and successfully identify a mineral deposit, we will need substantial additional funds for drilling and engineering studies to determine whether any identified mineral deposit is commercially viable. Management expects that due to the anticipated expense of a drilling program we may need to secure a strategic partner to proceed. If we are unable to raise additional funds for this work or secure a strategic partner, we would be unable to proceed, even if a mineral deposit is discovered and is believed to be commercially viable.

Our business plan calls for exploration on our properties to be conducted as Phase One and Phase Two. Total exploration expenditures for Phase One and Phase Two are expected to be approximately $40,000.$87,000. Management will assess each phase of our proposed exploration to determine whether the results warrant further work. If exploration results on the initial phases do not warrant drilling or further exploration, we will most likely suspend operations on the property. In that event, we would need to seek additional exploration properties and additional funding with which to conduct the work. If we are unable to obtain additional financing or additional properties, we may not be able to continue active business operations.

We do not anticipate making any major equipment purchasers or significant capital expenditures in the immediate future unless we have the necessary funds. We do not have employees and do not expect to add employees over the next 12 months, except for part-time clerical assistance on an as-needed basis and possibly engaging outside advisors or consultants as requisite funds are available. We anticipate that our current management team will satisfy our everyday operating requirements for the foreseeable future.

Due to our limited cash reserves, it may be necessary for officers, directors or stockholders to advance funds and we will most likely accrue expenses until a funding can be accomplished. Management intends to hold expenses to a minimum and to obtain services on a contingency basis when possible.  Further, we expect directors to defer any compensation until such time as we have sufficient funds.  We have not yet entered into any arrangements or definitive agreements to use outside advisors or consultants or to raise any capital.  

Because we will most likely need to obtain outside financing, possibly the only method available would be the private sale of securities. It is unlikely that we could make a public sale of securities or be able to borrow any significant sum from either a commercial or private lender.  There can be no assurance that we will be able to obtain necessary additional funding when and if needed, or that such funding, if available, can be obtained on acceptable terms.

Forward-Looking and Cautionary Statements

This report contains forward-looking statements relating to future events or our future financial performance.  In some cases, you can identify forward-looking statements by terminology such as “may,” “will” “should," “expect," "intend," "plan," anticipate," "believe," "estimate," "predict," "potential," "continue," or similar terms, variations of such terms or the negative of such terms.  These statements are only predictions and involve known and unknown risks, uncertainties and other factors.  Although forward-looking statement, and any assumptions upon which they are based, are made in good faith and reflect our current judgment, actual results could differ materially from those anticipated in such statements.  Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results. We believe the expectations reflected in these forward-looking statements are reasonable, however such expectations cannot guarantee future results, levels of activity, performance or achievements.

Item 3.

Quantitative and Qualitative Disclosures about Market Risk

This item is not required for a smaller reporting company.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures.  Disclosure controls and procedures (as defined in Rules  13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) are designed to ensure that information required to be disclosed in reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.  Disclosure and control procedures are also designed to ensure that such information is accumulated and communicated to management, including the chief executive officer and principal accounting officer, to allow timely decisions regarding required disclosures.

As of the end of the period covered by this quarterly report, we carried out an evaluation, under the supervision and with the participation of management, including our chief executive officer and principal accounting officer, of the effectiveness of the design and operation of our disclosure controls and procedures.  In designing and evaluating the disclosure controls and procedures, management recognizes that there are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures.  Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their desired control objectives.  Additionally, in evaluating and implementing possible controls and procedures, management is required to apply its reasonable judgment.  Based on the evaluation described above, our management, including our principal executive officer and principal accounting officer, concluded that, as of September 30, 2016,March 31, 2017, our disclosure controls and procedures were not effective due to a lack of adequate segregation of duties and the absence of an audit committee.

Changes in Internal Control Over Financial Reporting.  Management has evaluated whether any change in our internal control over financial reporting occurred during the thirdfirst quarter of fiscal 2016.2017. Based on its evaluation, management, including the chief executive officer and principal accounting officer, has concluded that there has been no change in our internal control over financial reporting during the thirdfirst quarter of fiscal 20162017 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART  II   —   OTHER INFORMATION

Item 1.

Legal Proceedings

There are no material pending legal proceedings to which we are a party or to which any of our property is subject and, to the best of our knowledge, no such actions against us are contemplated or threatened.

Item 1A.

Risk Factors

This item is not required for a smaller reporting company.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

This Item is not applicable.

Item 3.

Defaults Upon Senior Securities

This Item is not applicable.

Item 4.

Mine Safety Disclosures

This Item is not applicable.

Item 5.

Other Information

This Item is not applicable.

Item 6.

Exhibits

Exhibit 31.1

Certification of C.E.O. and Principal Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.1

Certification of C.E.O. and Principal Accounting Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit 101*

Interactive Data File

*

In accordance with Rule 406T of Regulation S-T, these XBRL (eXtensible Business Reporting Language) documents are furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, or Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

WESTGATE ACQUISITIONS CORPORATION

Date:  November 21, 2016May 12, 2017

By: /S/   GEOFF WILLIAMS

Geoff Williams

President, C.E.O. and Director

(Principal Accounting Officer)