þ
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Quarterly
Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of
1934.
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o
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Transition
Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of
1934.
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Delaware
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45-0567010
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(State
or other jurisdiction of
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(I.R.S.
Employer Identification No.)
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incorporation
or organization)
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300 Park Avenue, Suite 1700, New York, NY
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10022
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(Address
of principal executive offices)
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(Zip
Code)
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Item
1.
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Financial
Statements
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Item
2.
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Management’s
Discussion and Analysis of Financial Condition
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Item
3.
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Control
and Procedures
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Item
1.
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Legal
Proceedings
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Item
2.
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Changes
in Securities
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Item
3.
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Defaults
Upon Senior Securities
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Item
4.
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Submission
of Matters to a Vote of Security Holders
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Item
5.
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Other
Information
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Item
6.
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Exhibits
and Reports on Form 8-K
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BYWATER
RESOURCES, INC.
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||||
(AN
EXLORATION STAGE COMPANY)
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||||
CONDENSED
BALANCE SHEET
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||||
AS
OF AUGUST 31, 2007
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||||
(UNAUDITED)
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||||
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||||
ASSETS
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||||
CURRENT
ASSETS
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||||
Cash
|
$ |
14,263
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||
Prepaid
Expense
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6,188
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|||
TOTAL
ASSETS
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$ |
20,451
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||
LIABILITIES
AND STOCKHOLDERS' EQUITY
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||||
CURRENT
LIABILITIES
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||||
Accrued
Expenses
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$ |
9,200
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||
TOTAL
LIABILITIES
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9,200
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|||
STOCKHOLDERS'
EQUITY
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||||
Preferred
Stock - Par value $0.001;
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||||
Authorized:
5,000,000
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||||
None
issued and outstanding
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-
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|||
Common
Stock - Par value $0.001;
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||||
Authorized:
50,000,000
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||||
Issued
and Outstanding: 7,400,000
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7,400
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|||
Additional
Paid-In Capital
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73,800
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|||
Accumulated
Deficit during exploration stage
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(69,949 | ) | ||
Total
Stockholders' Equity
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11,251
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|||
TOTAL
LIABILITIES AND EQUITY
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$ |
20,451
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||
BYWATER
RESOURCES, INC.
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||||||||||||
(AN
EXLORATION STAGE COMPANY)
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||||||||||||
CONDENSED
STATEMENT OF OPERATIONS
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||||||||||||
(UNAUDITED)
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||||||||||||
For
the Period
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||||||||||||
From
January 11,
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||||||||||||
For
the Three
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For
the Three
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2006
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||||||||||
Months
Ended
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Months
Ended
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(Inception)
to
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||||||||||
August
31, 2007
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August
31, 2006
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August
31, 2007
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||||||||||
REVENUE
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$ |
-
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$ |
-
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$ |
-
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||||||
OPERATING
EXPENSES
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||||||||||||
General
and Administrative expenses
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10,346
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7,733
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29,949
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|||||||||
Exploration
Costs
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-
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-
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40,000
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|||||||||
TOTAL
OPERATING EXPENSES
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10,346
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7,733
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69,949
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|||||||||
LOSS
FROM OPERATINGS
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(10,346 | ) | (7,733 | ) | (69,949 | ) | ||||||
PROVISION
FOR INCOME TAXES
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-
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-
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-
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|||||||||
NET
LOSS
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$ | (10,346 | ) | $ | (7,733 | ) | $ | (69,949 | ) | |||
Net
Loss per share - basic and diluted
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$ | (0.00 | ) | $ | (0.00 | ) | ||||||
Weighted
average number of shares outstanding
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||||||||||||
during
the period - basic and diluted
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7,400,000
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7,400,000
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||||||||||
BYWATER
RESOURCES, INC.
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||||||||||||||||||||||||||||
(AN
EXLORATION STAGE COMPANY)
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||||||||||||||||||||||||||||
CONDENSED
STATEMENT OF STOCKHOLDERS' EQUITY
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||||||||||||||||||||||||||||
FOR
THE PERIOD FROM JANUARY 11, 2006 (INCEPTION) TO AUGUST 31,
2007
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||||||||||||||||||||||||||||
(UNAUDITED)
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||||||||||||||||||||||||||||
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ACCUMULATED
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||||||||||||||||||||||||||
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DEFICIT | |||||||||||||||||||||||||||
ADDITIONAL
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DURING
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|||||||||||||||||||||||||||
PREFERRED
STOCK
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COMMON
STOCK
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PAID
IN
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EXPLORATION
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TOTAL
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||||||||||||||||||||||||
SHARES
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AMOUNT
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SHARES
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AMOUNT
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CAPITAL
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STAGE
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EQUITY
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||||||||||||||||||||||
Common
stock issued as
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$ |
-
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5,550,000
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$ |
5,550
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$ | (4,350 | ) | $ |
-
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$ |
1,200
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||||||||||||||||
compensation
upon company
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||||||||||||||||||||||||||||
inception
(January 11, 2006)
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||||||||||||||||||||||||||||
at
$0.0002 per share
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||||||||||||||||||||||||||||
Common
stock issued for cash
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-
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971,250
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971
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41,029
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-
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42,000
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||||||||||||||||||||||
February
16, 2006 at $0.04
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||||||||||||||||||||||||||||
per
share on private placement
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||||||||||||||||||||||||||||
Common
stock issued for cash
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-
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878,750
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879
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37,121
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38,000
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|||||||||||||||||||||||
March
3, 2006 at $0.04
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||||||||||||||||||||||||||||
per
share on private placement
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||||||||||||||||||||||||||||
Net
income (loss)
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|
-
|
-
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-
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-
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(46,206 | ) | (46,206 | ) | |||||||||||||||||||
Balance,
May 31, 2006
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-
|
-
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7,400,000
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7,400
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73,800
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(46,206 | ) |
34,994
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||||||||||||||||||||
Net
income (loss)
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-
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(13,397 | ) | (13,397 | ) | |||||||||||||||||||||||
Balance,
May 31, 2007
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-
|
-
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7,400,000
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7,400
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73,800
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(59,603 | ) |
21,597
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||||||||||||||||||||
Net
income (loss)
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-
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(10,346 | ) | (10,346 | ) | |||||||||||||||||||||||
Balance,
August 31, 2007
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-
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$ |
-
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7,400,000
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$ |
7,400
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$ |
73,800
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$ | (69,949 | ) | $ |
11,251
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|||||||||||||||
BYWATER
RESOURCES, INC.
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||||||||||||
(AN
EXLORATION STAGE COMPANY)
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||||||||||||
CONDENSED
STATEMENT OF CASH FLOWS
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||||||||||||
(UNAUDITED)
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||||||||||||
For
the Period
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||||||||||||
From
January 11,
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||||||||||||
For
the Three
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For
the Three
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2006
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||||||||||
Months
Ended
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Months
Ended
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(Inception)
to
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||||||||||
CASH
FLOWS FROM OPERATING ACTIVITIES
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August
31, 2007
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August
31, 2006
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August
31, 2007
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|||||||||
Net
loss
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$ | (10,346 | ) | $ | (7,733 | ) | $ | (69,949 | ) | |||
Adjustments
to reconcile net loss to net cash used in
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||||||||||||
operating
activiities:
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||||||||||||
Compensation
in the form of stock
|
-
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-
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1,200
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|||||||||
Changes
in Assets and Liabilities:
|
||||||||||||
(Increase)
Decrease in Prepaid Expense
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2,062
|
-
|
(6,188 | ) | ||||||||
Increase
(Decrease) in Accrued Expenses
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5,565
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(3,750 | ) |
9,200
|
||||||||
Net
cash used in operating activities
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(2,719 | ) | (11,483 | ) | (65,737 | ) | ||||||
CASH
FLOWS FROM INVESTING ACTIVITIES
|
-
|
-
|
-
|
|||||||||
CASH
FLOWS FROM FINANCING ACTIVITIES
|
||||||||||||
Proceeds
from stock issuance
|
-
|
-
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80,000
|
|||||||||
Net
cash provided financing activities
|
-
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-
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80,000
|
|||||||||
Net
increase (decrease) in cash
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(2,719 | ) | (11,483 | ) |
14,263
|
|||||||
Cash
- beginning balance
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16,982
|
39,944
|
-
|
|||||||||
CASH
BALANCE - END OF PERIOD
|
$ |
14,263
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$ |
28,461
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$ |
14,263
|
||||||
Exploration
and site work (samples)
|
|
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8,000
|
|
General
and administrative
|
|
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17,400
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Total
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$
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25,400
|
|
(a)
|
Exhibits
|
(b)
|
Reports
of Form 8-K
|