Black Rock Petroleum (BKRP) 10-Q 2016 Q1 Quarterly report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X]	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED July 31, 2015
	OR
[  ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number   000-55281

BLACK ROCK PETROLEUM COMPANY

(Exact name of registrant as specified in its charter)

Nevada

(State of incorporation)

1361 Peltier Drive

Point Roberts, Washington   98281

(Address of principal executive offices)

(403) 708-2523

(Registrant's telephone number)

Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.  YES [X]     NO [   ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  YES [X]     NO [   ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer," "non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer	[   ]	Accelerated Filer	[   ]
Non-accelerated Filer(Do not check if smaller reporting company)	[   ]	Smaller Reporting Company	[X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  YES [   ]     NO [X]

APPLICABLE ONLY TO CORPORATE ISSUERS:

As of September 11, 2015, there were 120,850,000 shares of the registrant's $0.00001 par value common stock issued and outstanding.

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TABLE OF CONTENTS

		Page
PART I.  FINANCIAL INFORMATION		3
ITEM 1.	FINANCIAL STATEMENTS.	3
	Condensed Balance Sheets as of July 31, 2015 (unaudited) and April 30, 2015	3
	Condensed Statements of Operations for the three months ended July 31, 2015 (unaudited)	4
	Condensed Statement of Cash Flows for the three months ended July 31, 2015 (unaudited)	5
	Notes to the Condensed Financial Statements	6
ITEM 2.	MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION.	7
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.	8
ITEM 4.	CONTROLS AND PROCEDURES.	8
PART II.  OTHER INFORMATION		8
ITEM 1.	LEGAL PROCEEDINGS.	8
ITEM 1A.	RISK FACTORS.	8
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.	8
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES.	8
ITEM 4.	MINE SAFETY DISCLOSURES.	8
ITEM 5.	OTHER INFORMATION.	8
ITEM 6.	EXHIBITS.	9
Signatures		10
Exhibit Index		11

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PART I - FINANCIAL INFORMATION

ITEM 1.          FINANCIAL STATEMENTS.

BLACK ROCK PETROLEUM COMPANY
Balance Sheets
(Unaudited)
		July 31	April 30
		2015	2015
		$	$
ASSETS
Current Assets
	Cash and cash equivalents	1,295	86
	Total Current Assets	1,295	86
TOTAL ASSETS		1,295	86
LIABILITIES AND SHAREHOLDERS' DEFICT
Current Liabilities
	Accounts payable and accrued liabilities	39,423	40,142
	Due to related parties	49,786	41,004
	Total Current Liabilities	89,209	81,146
Stockholder's Deficit
	Share capital
	Authorized:
	100,000,000 preferred shares, par value $0.00001
	200,000,000 common shares, par value $0.00001
	Issued and outstanding:
	Nil preferred shares
	120,850,000 common shares	1,209	1,209
	Accumulated deficit	(89,123)	(82,269)
	Total Stockholders' Deficit	(87,914)	(81,060)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT		1,295	86

The accompanying notes are an integral part of these unaudited financial statements.

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BLACK ROCK PETROLEUM COMPANY
Statement of Operations
(Unaudited)
		Three months	Three months
		Ended	Ended
		July 31	July 31
		2015	2014
		$	$
Expenses
	Accounting and legal	3,854	2,905
	Rent	3,000	3,000
	Stock management fees	-	687
Loss from operations		(6,854)	(6,592)
Net loss and comprehensive loss for the period		(6,854)	(6,592)
Basic and diluted loss per share		(0.00)	(0.00)
Weighted average number of common shares outstanding
	Basic and diluted	120,850,000	120,850,000

The accompanying notes are an integral part of these unaudited financial statements.

4

BLACK ROCK PETROLEUM COMPANY
Statement of Cash Flows
(Unaudited)
	Three months	Three months
	Ended	Ended
	July 31	July 31
	2015	2014
	$	$
Cash flows from operating activities
Net income (loss)	(6,854)	(6,592)
Changes in non-cash working capital
Accounts payable and accrued liabilities	(719)	6,142
Net cash used in operating activities	(7,573)	(450)
Cash flows from financing activities
Due to related parties	8,782	450
Net cash provided by financing activities	8,782	450
Increase (Decrease) in cash and cash equivalents	1,209	-
Cash and cash equivalents, beginning of period	86	1
Cash and cash equivalents, end of period	1,295	1
SUPPLEMENTAL CASHFLOW INFORMATION
Cash paid for interest	-	-
Cash paid for income taxes	-	-

The accompanying notes are an integral part of these unaudited financial statements.

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BLACK ROCK PETROLEUM COMPANY

Notes to the Financial Statements

(Unaudited)

1.  INCORPORATION AND CONTINUANCE OF OPERATIONS

Black Rock Petroleum Company was formed on April 24, 2013 under the laws of the State of Nevada.  We have not commenced our planned principal operations. The Company’s fiscal year end is April 30.

We have not generated any operating revenues to date.  

2. GOING CONCERN

The Company's financial statements are prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has sustained losses and additional equity financing will be required by the Company to fund its development activities and to support operations. However, there is no assurance that the Company will be able to obtain additional financing. The Company has not generated any operating revenues to date. Furthermore, the Company’s existence is dependent upon management’s ability to develop profitable operations. These factors, among others, raise substantial doubt that the Company will be able to continue as a going concern. These financial statements do not include any adjustments that might result from this uncertainty.

3.  DUE TO RELATED PARTY

During the three months ended July 31, 2015, the director paid certain expense on behalf of the company.

As at July 31, 2015 $49,786 was due to director.  The amount due to director was unsecured, non-interest bearing and due on demand.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

AND RESULTS OF OPERATION.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are an exploration stage corporation and have not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of the property, and possible cost overruns due to price and cost increases in services.

To become profitable and competitive, we must sell oil and gas related equipment.  We are seeking equity financing to provide for the capital required to drill one or two wells.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.

Results of Operations

From Inception on April 24, 2013

Operations since inception consist of the plan to spin off the proposed oil and gas business and preparation of our registration statement.

Our parent corporation, Starflick.com caused its sole officer and director, Zoltan Nagy, to advance the legal and accounting fees of $25,750 for our spin-off and registration statement. We are obligated to repay Mr. Nagy said amount. The amount is not evidenced by any written documentation. The balance outstanding is non-interest bearing and is due on demand. Mr. Nagy does not intend to demand repayment until such time as we are able to pay the balance due.

Liquidity and Capital Resources

We will be able to stay in business for at least one year by drop shipping oil and gas equipment to our customers since the customer is responsible for payment in full of all equipment prior to delivery of the same.  To meet our need for cash for oil and gas exploration, we will attempt to raise money from a private placement and our profits from the sale of oil and gas equipment.

Mr. Nagy is willing to advance funds to us on an as needed basis until such time as we can sustain our operations without his assistance.  At the present time, we have not made any arrangements to raise additional cash, other than through as described herein. If we need additional cash and can't raise or Mr. Nagy will not advance the same, we will either have to suspend operations until we do raise the cash, or cease operations entirely. Other than as described in this paragraph, we have no other financing plans.

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ITEM 3.          QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4.          CONTROLS AND PROCEDURES.

Under the supervision and with the participation of our management, including the principal executive officer and principal financial officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Principal Executive Officer and Principal Financial Officer have concluded that these disclosure controls and procedures are ineffective. There were no changes in our internal control over financial reporting during the quarter ended July 31, 2015, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1.          LEGAL PROCEEDINGS.

None.

ITEM 1A.       RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 2.          UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM 3.          DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4.          MINE SAFETY DISCLOSURES.

None.

ITEM 5.          OTHER INFORMATION.

None.

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ITEM 6.          EXHIBITS.

		Incorporated by reference			Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	S-1	7/08/13	3.1
3.2	Bylaws.	S-1	7/08/13	3.2
3.3	Amended Articles of Incorporation.	S-1	7/08/13	3.3
14.1	Code of Ethics.	10-K/A		14.1
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.				X
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.				X
99.2	Audit Committee Charter.	10-K/A		99.2
99.3	Disclosure Committee Charter.	10-K/A		99.3
101.INS	XBRL Instance Document.
101.SCH	XBRL Taxonomy Extension – Schema.
101.CAL	XBRL Taxonomy Extension – Calculations.
101.DEF	XBRL Taxonomy Extension – Definitions.
101.LAB	XBRL Taxonomy Extension – Labels.
101.PRE	XBRL Taxonomy Extension – Presentation.

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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 on this 11^th day of September, 2015.

BLACK ROCK PETROLEUM COMPANY
BY:	ZOLTAN NAGY
	Zoltan Nagy
	President, Principal Executive Officer, Principal Financial Officer, Principal Accounting Officer, Secretary, Treasurer and sole member of the Board of Directors

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EXHIBIT INDEX

		Incorporated by reference			Filed
Exhibit	Document Description	Form	Date	Number	herewith
3.1	Articles of Incorporation.	S-1	7/08/13	3.1
3.2	Bylaws.	S-1	7/08/13	3.2
3.3	Amended Articles of Incorporation.	S-1	7/08/13	3.3
14.1	Code of Ethics.	10-K/A		14.1
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.				X
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.				X
99.2	Audit Committee Charter.	10-K/A		99.2
99.3	Disclosure Committee Charter.	10-K/A		99.3
101.INS	XBRL Instance Document.
101.SCH	XBRL Taxonomy Extension – Schema.
101.CAL	XBRL Taxonomy Extension – Calculations.
101.DEF	XBRL Taxonomy Extension – Definitions.
101.LAB	XBRL Taxonomy Extension – Labels.
101.PRE	XBRL Taxonomy Extension – Presentation.

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