| Yes [ X] No [ ] | We anticipate the following results of operations: Our operating losses for the three months ended October 31, 2013 increased by approximately $250,000 as compared to the prior comparable six month period ended October 31, 2012 due to the acquisition of certain oil and gas assets and increased operations related to finalizing the acquisition. For the three months ended October 31, 2013 our operating loss totaled approximately $260,000 as compared to an operating loss of $7,449 for the three month period ended October 31, 2012. Depreciation remained constant, however professional fees, which includes legal and audit fees, increased to approximately $13,500 for the three months ended October 31, 2013 as compared to $3,285 for the three months ended October 31, 2012, while general office administrative expenses increased to approximately $25,500 for the three months ended October 31, 2013 as compared to $2,289 for the three months ended October 31, 2012. We also incurred management fees of $30,000 in the current three month period, and expenses related to stock based compensation to management in the approximate amount of $190,000 with no comparable expenditures in the three months ended October 31, 2012. Net losses increased substantially to approximately $261,000 for the three months ended October 31, 2013 as compared to a net loss of $7,572 for the three months ended October 31, 2012. Net losses for the cumulative six month period ended October 31, 2013 are expected to total approximately $285,000 as compared to $26,687 in the prior comparative period ended October 31, 2012. |