Blue Water Petroleum Corp.

CIK:0001502772|SEC Filings

Blue Water Petroleum Corp. - Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2013
Operating expenses:
General and administrative	$ 77,889	$ 3,526	$ 452,500	$ 8,638
Depreciation expense	457	457	1,371	1,373
Professional fees	10,463	5,803	82,355	18,029
Total operating expenses	88,809	9,786	536,226	28,040
Interest expense	18,513	1,806	38,403	4,261
Net loss	$ (107,322)	$ (11,592)	$ (574,629)	$ (32,301)
Net Loss Per Common Share – Basic and Diluted (in Dollars per share)	$ 0.00	$ 0.00	$ (0.01)	$ 0.00
Weighted Average Common Shares Outstanding – Basic and Diluted (in Shares)	49,071,666	51,155,000	49,071,666	51,155,000

Blue Water Petroleum Corp. - Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Net loss	$ (574,629)	$ (32,301)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,371	1,373
Imputed interest	5,330	4,261
Stock-based compensation	265,626
Accounts payable and accrued liabilities	30,959	(1,664)
Net cash used in operating activities	(271,343)	(28,331)
Cash paid for drilling activities	(98,919)
Net cash used in investing activities	(98,919)
Cash flows from financing activities
Advances from related parties	1,000	(1,036)
Proceeds from loans payable	330,000	28,374
Net cash provided by financing activities	331,000	27,338
Decrease in cash	(39,262)	(993)
Cash - beginning of period	39,841	1,572
Cash - end of period	579	579
Supplemental cash flows information:
Interest paid	0	0
Income taxes paid	0	0
Non cash transaction
Liabilities accrued for oil & gas properties	$ 234,885	$ 234,885

Blue Water Petroleum Corp. - Consolidated Balance Sheets (USD $)	Apr. 30, 2014	Jul. 31, 2013
Current Assets
Cash	$ 579	$ 39,841
Total Current Assets	579	39,841
Property and equipment, net depreciation of $5,664 and $4,293 respectively	12,641	14,012
Oil and gas properties, not subject to amortization	413,158	79,354
Total Assets	426,378	133,207
Current Liabilities
Accounts payable and accrued liabilities	378,845	113,001
Related party payables	24,561	23,561
Loans payable	600,926	270,926
Stock payable	324,654	59,028
Total Current Liabilities	1,328,986	466,516
Preferred stock, 100,000,000 shares authorized, $0.001 par value; no shares issued and outstanding	0	0
Common stock, 100,000,000 shares authorized, $0.0001 par value; 49,071,666 shares issued and outstanding	4,907	4,907
Additional paid-in capital	271,529	266,199
Deficit accumulated during the exploration stage	(1,179,044)	(604,415)
Total Stockholders’ Deficit	(902,608)	(333,309)
Total Liabilities and Stockholders’ Deficit	$ 426,378	$ 133,207