ITEM
1. FINANCIAL STATEMENTS.
FINANCIAL
STATEMENTS
ORO Capital
Corporation
(An Exploration
Stage Company)
(Unaudited)
January
31, 2014
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|
Index
|
Balance Sheets
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F-1
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Statements of Operations
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F-2
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Statements of Cash Flows
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F-3
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Statement of Changes in Stockholders’ Equity (Deficit)
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F-4
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Notes to the Financial Statements
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F-5
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ORO
Capital Corporation
(An
Exploration Stage Company)
Balance
Sheets
January
31, 2014 and July 31, 2013
(Unaudited)
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|
January 31, 2014
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July 31, 2013
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|
ASSETS
|
|
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|
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|
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|
|
|
|
|
|
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|
Current Assets
|
|
|
|
|
|
|
|
|
Cash
|
|
$
|
2,660
|
|
|
$
|
33,908
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|
Total Current Assets
|
|
|
2,660
|
|
|
|
33,908
|
|
|
|
|
|
|
|
|
|
|
Total Assets
|
|
$
|
2,660
|
|
|
$
|
33,908
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|
|
|
|
|
|
|
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LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
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Current Liabilities
|
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Accounts Payable and Accrued Liabilities
|
|
$
|
3,000
|
|
|
$
|
3,000
|
|
Due to Directors
|
|
|
14,791
|
|
|
|
20,691
|
|
Total Liabilities
|
|
|
17,791
|
|
|
|
23,691
|
|
Stockholders’ Equity (Deficit)
|
|
|
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|
|
|
|
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Common Stock (75,000,000 shares authorized, par value 0.00001, 6,000,000 shares issued and outstanding)
|
|
|
60
|
|
|
|
60
|
|
Additional paid-in capital
|
|
|
62,145
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|
|
|
58,405
|
|
|
|
|
|
|
|
|
|
|
Deficit accumulated during the exploration stage
|
|
|
(77,336
|
)
|
|
|
(48,248
|
)
|
|
|
|
|
|
|
|
|
|
Total Stockholders’ Equity (Deficit)
|
|
|
(15,131
|
)
|
|
|
10,217
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities and Stockholders’ Equity (Deficit)
|
|
$
|
2,660
|
|
|
$
|
33,908
|
|
(The
Accompanying Notes are an Integral Part of These Financial Statements)
ORO
Capital Corporation
(An
Exploration Stage Company)
Statements
of Operations
For
the Three and Six Month Period Ended January 31, 2014 and 2013
and
Inception (December 29, 2010) to January 31, 2014
(Unaudited)
|
|
Three Month
Period Ended
January 31,
2014
|
|
Three Month
Period Ended
January 31,
2013
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|
Six Month
Period Ended
January 31,
2014
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|
Six Month
Period Ended
January 31,
2013
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|
Inception
December 29, 2010
to January 31,
2014
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Operating Expenses
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Consulting services
|
|
$
|
13,250
|
|
|
$
|
750
|
|
|
$
|
14,000
|
|
|
$
|
1,500
|
|
|
$
|
21,750
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|
Exploration
|
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|
4,400
|
|
|
|
-
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|
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|
4,400
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|
|
|
-
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12,900
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|
General and administrative
|
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|
750
|
|
|
|
-
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|
1,748
|
|
|
|
805
|
|
|
|
3,351
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|
Rent
|
|
|
750
|
|
|
|
750
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|
|
|
1,500
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|
|
|
1,500
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|
|
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9,250
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|
Legal and accounting
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|
1,200
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|
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|
4,400
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|
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|
6,700
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|
|
|
4,400
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|
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|
20,380
|
|
Impairment of Mineral Claims
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-
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|
|
-
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|
|
-
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-
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6,000
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|
|
|
|
|
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|
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Total Operating Expenses
|
|
|
20,350
|
|
|
|
5,900
|
|
|
|
28,348
|
|
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|
8,205
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|
|
|
73,631
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Other Expense
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|
Imputed Interest Expense
|
|
|
327
|
|
|
|
300
|
|
|
|
740
|
|
|
|
600
|
|
|
|
3,705
|
|
Net Loss
|
|
$
|
(20,677
|
)
|
|
$
|
(6,200
|
)
|
|
|
(29,088
|
)
|
|
|
(8,805
|
)
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|
$
|
(77,336
|
)
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|
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|
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Net Loss Per Common Share – Basic and Diluted
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|
$
|
(0.00
|
)
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$
|
0.00
|
|
|
$
|
0.00
|
|
|
$
|
0.00
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|
|
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|
Weighted Average Number of Common Shares Outstanding
|
|
|
6,000,000
|
|
|
|
5,000,000
|
|
|
|
6,000,000
|
|
|
|
5,000,000
|
|
|
|
|
|
(The
Accompanying Notes are an Integral Part of These Financial Statements)
ORO
Capital Corporation
(An
Exploration Stage Company)
Statements
of Cash Flows
For
the Six Month Period Ended January 31, 2014 and 2013
and
Inception December 29, 2010 to January 31, 2014
(Unaudited)
|
|
Six Month
Period Ended
January 31, 2014
|
|
Six Month
Period Ended
January 31, 2013
|
|
Inception
December
29, 2010 to
January 31, 2014
|
|
|
|
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|
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Operating Activities
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Net loss
|
|
$
|
(29,088
|
)
|
|
$
|
(8,805
|
)
|
|
$
|
(77,336
|
)
|
|
|
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Adjustments to reconcile net loss to cash used in operating activities:
|
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Impairment of mineral claims
|
|
|
-
|
|
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|
-
|
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|
|
6,000
|
|
Imputed interest expense
|
|
|
740
|
|
|
|
600
|
|
|
|
3,705
|
|
Donated consulting services and rent expenses
|
|
|
3,000
|
|
|
|
3,000
|
|
|
|
18,500
|
|
Changes in operating assets and liabilities:
|
|
|
|
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|
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|
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Accounts payable and accrued liabilities
|
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|
-
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|
1,205
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|
|
3,000
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|
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|
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|
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|
|
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|
Net Cash Used by Operating Activities
|
|
|
(25,348
|
)
|
|
|
(4,000
|
)
|
|
|
(46,131
|
)
|
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|
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|
Investing Activities
|
|
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|
|
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|
|
|
|
|
|
|
Purchase of mining claims
|
|
|
-
|
|
|
|
-
|
|
|
|
(6,000
|
)
|
|
|
|
|
|
|
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|
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|
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Financing Activities
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Payment on debt-related party
|
|
|
(5,900
|
)
|
|
|
-
|
|
|
|
(5,900
|
)
|
Borrowings on debt-related party
|
|
|
-
|
|
|
|
-
|
|
|
|
20,691
|
|
Issuance of common shares for cash
|
|
|
-
|
|
|
|
-
|
|
|
|
40,000
|
|
Net Cash from Financing Activities
|
|
|
(5,900
|
)
|
|
|
-
|
|
|
|
54,791
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (Decrease) in Cash
|
|
|
(31,248
|
)
|
|
|
(4,000
|
)
|
|
|
2,660
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Cash - Beginning of Period
|
|
|
33,908
|
|
|
|
4,000
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash - End of Period
|
|
$
|
2,660
|
|
|
$
|
-
|
|
|
$
|
2,660
|
|
Supplemental Disclosure of Cash Flow Information Cash paid during the period for:
|
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|
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|
|
|
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|
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|
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Interest
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
Income taxes
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
Non Cash
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of founders shares
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
50
|
|
(The
Accompanying Notes are an Integral Part of These Financial Statements)
ORO
Capital Corporation
(An
Exploration Stage Company)
Statement
of Changes in Stockholders’ Equity (Deficit)
From
Inception, December 29, 2010, to January 31, 2014
(Unaudited)
|
|
|
|
|
|
Deficit Accumulated
|
|
|
|
|
Common Stock
|
|
Additional Paid-in
|
|
During the Exploration
|
|
|
|
|
Shares
|
|
Amount
|
|
Capital
|
|
Stage
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 22, 2010
|
|
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuance of common stock to founders
|
|
|
5,000,000
|
|
|
|
50
|
|
|
|
(50
|
)
|
|
|
-
|
|
|
|
-
|
|
Donated consulting services and rent
|
|
|
-
|
|
|
|
-
|
|
|
|
3,500
|
|
|
|
-
|
|
|
|
3,500
|
|
Imputed interest expense
|
|
|
-
|
|
|
|
-
|
|
|
|
347
|
|
|
|
-
|
|
|
|
347
|
|
Net loss
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(8,847
|
)
|
|
|
(8,847
|
)
|
Balances at July 31, 2011
|
|
|
5,000,000
|
|
|
|
50
|
|
|
|
3,797
|
|
|
|
(8,847
|
)
|
|
|
(5,000
|
)
|
Donated consulting services and rent
|
|
|
-
|
|
|
|
-
|
|
|
|
6,000
|
|
|
|
-
|
|
|
|
6,000
|
|
Imputed interest expense
|
|
|
-
|
|
|
|
-
|
|
|
|
1,200
|
|
|
|
-
|
|
|
|
1,200
|
|
Net loss
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(16,200
|
)
|
|
|
(16,200
|
)
|
Balances at July 31, 2012
|
|
|
5,000,000
|
|
|
$
|
50
|
|
|
$
|
10,997
|
|
|
$
|
(25,047
|
)
|
|
$
|
(14,000
|
)
|
Issuance of shares
|
|
|
1,000,000
|
|
|
|
10
|
|
|
|
39,990
|
|
|
|
-
|
|
|
|
40,000
|
|
Donated consulting services and rent
|
|
|
-
|
|
|
|
-
|
|
|
|
6,000
|
|
|
|
-
|
|
|
|
6,000
|
|
Imputed interest expense
|
|
|
-
|
|
|
|
-
|
|
|
|
1,418
|
|
|
|
-
|
|
|
|
1,418
|
|
Net loss
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(23,201
|
)
|
|
|
(23,201
|
)
|
Balances at July 31, 2013
|
|
|
6,000,000
|
|
|
$
|
60
|
|
|
$
|
58,405
|
|
|
$
|
(48,248
|
)
|
|
$
|
10,217
|
|
Donated consulting services and rent
|
|
|
-
|
|
|
|
-
|
|
|
|
3,000
|
|
|
|
-
|
|
|
|
3,000
|
|
Imputed interest expense
|
|
|
-
|
|
|
|
-
|
|
|
|
740
|
|
|
|
-
|
|
|
|
740
|
|
Net loss
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(29,088
|
)
|
|
|
(29,088
|
)
|
Balances at January 31, 2014
|
|
|
6,000,000
|
|
|
$
|
60
|
|
|
$
|
62,145
|
|
|
$
|
(77,336
|
)
|
|
$
|
(15,131
|
)
|
(The
Accompanying Notes are an Integral Part of These Financial Statements)
ORO
Capital Corporation
(An
Exploration Stage Company)
Notes
to the Financial Statements
(Unaudited)
NOTE
1 – NATURE OF OPERATIONS
DESCRIPTION
OF BUSINESS AND HISTORY
The
Company was incorporated on December 29, 2010 in the State of Nevada. The Company is an exploration stage corporation. An exploration
stage corporation is one engaged in the search for mineral deposits or reserves which are not in either the development or production
stage. The Company intends to explore for diamond-bearing kimberlite on its mining property.
The
Company does not have any revenues and has incurred losses since inception. Currently, the Company has no operations, has been
issued a going concern opinion and relies upon the sale of our securities and loans from its sole officer and director to fund
operations.
GOING CONCERN
- These financial statements have been prepared on a going concern basis, which implies ORO Capital Corporation will continue
to meet its obligations and continue its operations for the next fiscal year. Realization value may be substantially different
from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification
of recorded asset amounts and classification of liabilities that might be necessary should ORO Capital Corporation be unable to
continue as a going concern. As at January 31, 2014 ORO Capital Corporation has a working capital deficiency, has not generated
revenues and has accumulated losses of $77,336 (2013: $48,248) since inception. The continuation of ORO Capital Corporation
as a going concern is dependent upon the continued financial support from its shareholders, the ability of ORO Capital Corporation
to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise
substantial doubt regarding the ORO Capital Corporation’ ability to continue as a going concern.
NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS
OF PRESENTATION - These financial statements and related notes are presented in accordance with accounting principles
generally accepted in the United States, and are expressed in U.S. dollars. The Company’s fiscal year-end is July
31.
USE
OF ESTIMATES - The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial
statements and the reported amounts of net revenue and expenses in the reporting period. We regularly evaluate our estimates and
assumptions related to the useful life and recoverability of long-lived assets, stock-based compensation and deferred income tax
asset valuation allowances. We base our estimates and assumptions on current facts, historical experience and various other factors
that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying
values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual
results experienced by us July differ materially and adversely from our estimates. To the extent there are material differences
between our estimates and the actual results, our future results of operations will be affected.
CASH
AND CASH EQUIVALENTS - The Company considers all highly liquid instruments with original maturities of three months or less when
acquired, to be cash equivalents. We had no cash equivalents at January 31, 2014 or July 31, 2013.
ORO
Capital Corporation
(An
Exploration Stage Company)
Notes
to the Financial Statements
(Unaudited)
NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES –
Continued
EXPLORATION
STAGE ENTITY – The Company complies with FASB guidelines for its description as an exploration stage company.
IMPUTED
INTEREST – The Company calculates imputed interest expense at an interest rate of 8% (2013: 8%) per annum. Interest expense
for the three months ended January 31, 2014 was $327 (January 31, 2013: $300).
INCOME
TAXES -
The Company accounts for income taxes under the provisions issued by the FASB which requires recognition of
deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the consolidated
financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference
between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which
the differences are expected to reverse. The Company computes tax asset benefits for net operating losses carried forward. The
potential benefit of net operating losses has not been recognized in these financial statements because the Company cannot be
assured it is more likely than not it will utilize the net operating losses carried forward in future years.
LOSS
PER COMMON SHARE
-
The Company reports net loss per share in accordance with provisions of the FASB. The
provisions require dual presentation of basic and diluted loss per share. Basic net loss per share excludes the impact of common
stock equivalents. Diluted net loss per share utilizes the average market price per share when applying the treasury stock method
in determining common stock equivalents. As of January 31, 2014 and July 31, 2013, there were no common stock equivalents outstanding.
FAIR
VALUE OF FINANCIAL INSTRUMENTS - Pursuant to ASC No. 820, “Fair Value Measurements and Disclosures”, the Company is
required to estimate the fair value of all financial instruments included on its balance sheet as of January 31, 2014 and July
31, 2013. The Company’s financial instruments consist of cash. The Company considers the carrying value of such amounts
in the financial statements to approximate their fair value due to the short-term nature of these financial instruments.
RECENTLY
ISSUED ACCOUNTING PRONOUNCEMENTS - In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards
Update (ASU) No. 2013-02,
Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other
Comprehensive Income
, to improve the transparency of reporting these reclassifications. Other comprehensive income includes
gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified
out of accumulated other comprehensive income into net income. The amendments in the ASU do not change the current requirements
for reporting net income or other comprehensive income in financial statements. All of the information that this ASU requires
already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an
organization to:
-
|
Present
(either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income
of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required
under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and
|
-
|
Cross-reference
to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S.
GAAP) to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when
a portion of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet
account (e.g., inventory for pension-related amounts) instead of directly to income or expense.
|
ORO
Capital Corporation
(An
Exploration Stage Company)
Notes
to the Financial Statements
(Unaudited)
NOTE
2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES –
Continued
The
amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required
to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods
beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected
to have a material impact on our financial position or results of operations.
In
January 2013, the FASB issued ASU No. 2013-01,
Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting
Assets and Liabilities
, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements
originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under
ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement
users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable
and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant
presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like
ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption
of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations.
In
October 2012, the FASB issued Accounting Standards Update ASU 2012-04, “Technical Corrections and Improvements” in
Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards
Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming
amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after
December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results
of operations.
In
August 2012, the FASB issued ASU 2012-03, “Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs
Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections
Related to FASB Accounting Standards Update 2010-22 (SEC Update)” in Accounting Standards Update No. 2012-03. This update
amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material
impact on our financial position or results of operations.
In
July 2012, the FASB issued ASU 2012-02, “Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible
Assets for Impairment” in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08,
Intangibles –
Goodwill and Other (Topic 350): Testing Indefinite-Lived
Intangible
Assets for Impairment
and permits an entity first to assess qualitative factors to determine whether it is more likely
than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the
quantitative impairment test in accordance with Subtopic 350-30,
Intangibles - Goodwill and Other - General Intangibles
Other than Goodwill
. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning
after September 15, 2012. Early adoption is permitted, including for annual and interim impairment tests performed as of a date
before July 27, 2012, if a public entity’s financial statements for the most recent annual or interim period have not yet
been issued or, for nonpublic entities, have not yet been madeavailable for issuance. The adoption of ASU 2012-02 has not had
a material impact on our financial position or results of operations.
ORO
Capital Corporation
(An
Exploration Stage Company)
Notes
to the Financial Statements
(Unaudited)
NOTE
3 – MINING CLAIM
Oro Capital
Corporation has acquired a 100% interest in the Shipman Diamond Project, which is located 50 kilometers northeast of Prince Albert,
Saskatchewan, Canada and 2 kilometers north of the village of Shipman.
In
2011 the Company paid $6,000 for the mining project. At July 31, 2012, the Company did an assessment whether this payment would
meet the characteristics required to record it as an asset at year-end and determined that an impairment charge of $6,000 should
be reflected as of July 31, 2012 because the Company could not substantiate that there would be a future economic benefit arising
from this payment.
On
August 7, 2013, magnetometer survey was completed on the Shipman property by Discover Int’l Geophysics Inc.
The
magnetometer survey completed on the Shipman property identified a portion of a magnetic high anomaly. Based on these results
the company has commenced a limited exploration program consisting of the collection of approximately 55 large soil samples. These
large soil samples can be analyzed at a future date, for diamond indicator minerals (chromite and pryope garnets) when the Company
has sufficient funds to pay for the analysis.
NOTE
4 – INCOME TAXES
Deferred
income taxes July arise from temporary differences resulting from income and expense items reported for financial accounting and
tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of
assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset
or liability are classified as current or non-current depending on the periods in which the temporary differences are expected
to reverse. The company does not have any uncertain tax positions.
The Company
currently has net operating loss carryforwards aggregating $55,131 (2013: $29,783), which expire through 2030. The deferred tax
asset related to the carryforwards has been fully reserved.
The
Company has deferred income tax assets, which have been fully reserved, as follows as of January 31, 2014 and July 31,
2013:
|
|
January 31, 2014
|
|
July 31, 2013
|
Deferred tax assets
|
|
$
|
19,296
|
|
|
$
|
10,424
|
|
Valuation allowance for deferred tax assets
|
|
|
(19,296
|
)
|
|
|
(10,424
|
)
|
Net deferred tax assets
|
|
$
|
-
|
|
|
$
|
-
|
|
ORO
Capital Corporation
(An
Exploration Stage Company)
Notes
to the Financial Statements
(Unaudited)
NOTE
5 – FAIR VALUE MEASUREMENTS
The
Company adopted ASC No. 820-10 (ASC 820-10), Fair Value Measurements. ASC 820-10 relates to financial assets and financial liabilities.
ASC
820-10 defines fair value, establishes a framework for measuring fair value in accounting principles generally accepted in the
United States of America (GAAP), and expands disclosures about fair value measurements. The provisions of this standard apply
to other accounting pronouncements that require or permit fair value measurements and are to be applied prospectively with limited
exceptions.
ASC
820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. This standard is now the single source in GAAP for the definition of fair
value, except for the fair value of leased property as defined in SFAS 13. ASC 820-10 establishes a fair value hierarchy that
distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources
(observable inputs) and (2) an entity’s own assumptions, about market participant assumptions, that are developed based
on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad
levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level
1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820-10 are
described below:
•
|
Level
1
|
Unadjusted
quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.
|
|
|
|
•
|
Level 2
|
Inputs other than
quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including
quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities
in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest
rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
•
|
Level
3
|
Inputs
that are both significant to the fair value measurement and unobservable. These inputs rely on management’s own assumptions
about the assumptions that market participants would use in pricing the asset or liability. (The unobservable inputs are developed
based on the best information available in the circumstances and July include the Company’s own data.)
|
The following
presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a non-recurring basis
as of January 31, 2014 and July 31, 2013:
Level
1: None
Level
2: None
Level
3: None
Total
Gain (Losses): None
ORO
Capital Corporation
(An
Exploration Stage Company)
Notes
to the Financial Statements
(Unaudited)
NOTE 6
– RELATED PARTY TRANSACTIONS
During the
six month period ended January 31, 2014 the Company recognized a total of $3,000 (2013: $3,000) for rent and services from directors
for rent at $250 per month and at $250 per month for consulting services provided by the President and Director of the Company.
These transactions are recorded at the exchange amount which is the amount agreed to by the transacting parties.
A director
has advanced funds to us for our legal, audit, filing fees, general office administration and cash needs. As of January 31, 2014,
the director has advanced a total of $14,791 (2013: $20,691). During the three months ended January 31, 2014, $5,900 was repaid
to the related party. These advanced funds are due on demand and have no stated interest rate. Imputed interest of $740 was recorded
during the period ended January 31, 2014.
NOTE 7
– COMMON STOCK
As of January
31, 2014, ORO Capital Corporation has issued 5,000,000 common shares to the Company’s founders.
On June
27, 2013 ORO Capital Corporation has issued 1,000,000 common shares for $0.04 per share for total proceeds of $40,000 to 37 individuals
in the Company’s initial public offering.
NOTE 8
– SUBSEQUENT EVENTS
The Company
had no subsequent events after January 31, 2014 to the date financial statements were issued.
Index
ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The
following information should be read in conjunction with (i) the financial statements of Oro Capital Corporation, a Nevada corporation
(the “Company”), and exploration-stage company, and the notes there to appearing elsewhere in this Form 10-Q together
with (ii) the more detailed business information and the July 31, 2013 audited financial statements and related notes included
in the Company’s Form S-1, as amended (File No. 333-185103; the “Form S-1”), as filed with the Securities and
Exchange Commission (“SEC”) on June 14, 2013 and declared effective by the SEC on June 14, 2013. Statements in this
section and elsewhere in this Form 10-Q that are not statements of historical or current fact constitute “forward-looking”
statements
OVERVIEW
The
Company was incorporated in the State of Nevada on December 29, 2010 and established a fiscal year end of July 31. It is an exploration-stage
company.
Going
Concern
GOING
CONCERN - These financial statements have been prepared on a going concern basis, which implies ORO Capital Corporation will continue
to meet its obligations and continue its operations for the next fiscal year. Realization value may be substantially different
from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification
of recorded asset amounts and classification of liabilities that might be necessary should ORO Capital Corporation be unable to
continue as a going concern. For the six month period ended January 31, 2014 ORO Capital Corporation has a working capital deficiency,
has not generated revenues and has accumulated losses of $29,088 (2013: $8,805). Our net loss from December 29, 2010 (inception)
to January 31, 2014 was $77,335. The continuation of ORO Capital Corporation as a going concern is dependent upon the continued
financial support from its shareholders, the ability of ORO Capital Corporation to obtain necessary equity financing to continue
operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the ORO Capital Corporation’
ability to continue as a going concern.
CRITICAL
ACCOUNTING POLICIES
The
discussion and analysis of our financial condition and results of operations are based on our condensed consolidated financial
statements, which have been prepared in accordance with accounting principles generally accepted in the United States (“US
GAAP”). The preparation of these condensed consolidated financial statements requires us to make estimates and judgments
that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and
liabilities. On an ongoing basis, we evaluate our estimates based on historical experience and on various other assumptions that
are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying
values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates
under different assumptions or conditions. We have identified the policies below as critical to our business operations and to
the understanding of our financial results:
BASIS OF
PRESENTATION -These financial statements and related notes are presented in accordance with accounting principles generally accepted
in the United States, and are expressed in U.S. dollars. The Company’s fiscal year-end is July 31.
USE
OF ESTIMATES - The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial
statements and the reported amounts of net revenue and expenses in the reporting period. We regularly evaluate our estimates and
assumptions related to the useful life and recoverability of long-lived assets, stock-based compensation and deferred income tax
asset valuation allowances. We base our estimates and assumptions on current facts, historical experience and various other factors
that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying
values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual
results experienced by us July differ materially and adversely from our estimates. To the extent there are material differences
between our estimates and the actual results, our future results of operations will be affected.
Index
CASH
AND CASH EQUIVALENTS - The Company considers all highly liquid instruments with original maturities of three months or less when
acquired, to be cash equivalents. We had no cash equivalents at January 31, 2014 or July 31, 2013.
EXPLORATION
STAGE ENTITY – The Company complies with FASB guidelines for its description as an exploration stage company.
IMPAIRMENT
POLICY – In 2011 the Company paid $6,000 for the mining project. At July 31, 2012, the Company did an assessment whether
this payment would meet the characteristics required to record it as an asset at year-end and determined that an impairment charge
of $6,000 should be reflected as of July 31, 2012 because the Company could not substantiate that there would be a future economic
benefit arising from this payment.
IMPUTED
INTEREST – The Company calculates imputed interest expense at an interest rate of 8% (2012: 8%) per annum. Interest expense
for the six months ended January 31, 2014 was $740 ( January 31, 2013: $600).
INCOME
TAXES -
The Company accounts for income taxes under the provisions issued by the FASB which requires recognition of
deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the consolidated
financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference
between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which
the differences are expected to reverse. The Company computes tax asset benefits for net operating losses carried forward. The
potential benefit of net operating losses has not been recognized in these financial statements because the Company cannot be
assured it is more likely than not it will utilize the net operating losses carried forward in future years.
LOSS
PER COMMON SHARE
-
The Company reports net loss per share in accordance with provisions of the FASB. The
provisions require dual presentation of basic and diluted loss per share. Basic net loss per share excludes the impact of common
stock equivalents. Diluted net loss per share utilizes the average market price per share when applying the treasury stock method
in determining common stock equivalents. As of January 31, 2014 and July 31, 2013, there were no common stock equivalents outstanding.
FAIR
VALUE OF FINANCIAL INSTRUMENTS - Pursuant to ASC No. 820, “Fair Value Measurements and Disclosures”, the Company is
required to estimate the fair value of all financial instruments included on its balance sheet as of January 31, 2014 and July
31, 2013. The Company’s financial instruments consist of cash. The Company considers the carrying value of such amounts
in the financial statements to approximate their fair value due to the short-term nature of these financial instruments.
RECENTLY
ISSUED ACCOUNTING PRONOUNCEMENTS - In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards
Update (ASU) No. 2013-02,
Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive
Income
, to improve the transparency of reporting these reclassifications. Other comprehensive income includes gains and losses
that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated
other comprehensive income into net income. The amendments in the ASU do not change the current requirements for reporting net
income or other comprehensive income in financial statements. All of the information that this ASU requires already is required
to be disclosed elsewhere in the financial statements under U.S. GAAP. The new amendments will require an organization to:
|
●
|
Present
(either on the face of the statement where net income is presented or in the notes) the effects on the line items of net income
of significant amounts reclassified out of accumulated other comprehensive income - but only if the item reclassified is required
under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period; and
|
Index
|
●
|
Cross-reference
to other disclosures currently required under U.S. GAAP for other reclassification items (that are not required under U.S. GAAP)
to be reclassified directly to net income in their entirety in the same reporting period. This would be the case when a portion
of the amount reclassified out of accumulated other comprehensive income is initially transferred to a balance sheet account (e.g.,
inventory for pension-related amounts) instead of directly to income or expense.
|
The
amendments apply to all public and private companies that report items of other comprehensive income. Public companies are required
to comply with these amendments for all reporting periods (interim and annual). The amendments are effective for reporting periods
beginning after December 15, 2012, for public companies. Early adoption is permitted. The adoption of ASU No. 2013-02 is not expected
to have a material impact on our financial position or results of operations.
In
January 2013, the FASB issued ASU No. 2013-01,
Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting
Assets and Liabilities
, which clarifies which instruments and transactions are subject to the offsetting disclosure requirements
originally established by ASU 2011-11. The new ASU addresses preparer concerns that the scope of the disclosure requirements under
ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to financial statement
users. In choosing to narrow the scope of the offsetting disclosures, the Board determined that it could make them more operable
and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant
presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under IFRSs. Like
ASU 2011-11, the amendments in this update will be effective for fiscal periods beginning on, or after January 1, 2013. The adoption
of ASU 2013-01 is not expected to have a material impact on our financial position or results of operations.
In
October 2012, the FASB issued Accounting Standards Update ASU 2012-04, “Technical Corrections and Improvements” in
Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards
Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming
amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after
December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results
of operations.
In
August 2012, the FASB issued ASU 2012-03, “Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs
Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections
Related to FASB Accounting Standards Update 2010-22 (SEC Update)” in Accounting Standards Update No. 2012-03. This update
amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material
impact on our financial position or results of operations.
In
July 2012, the FASB issued ASU 2012-02, “Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible
Assets for Impairment” in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08,
Intangibles –
Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment
and permits an entity first to assess
qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a
basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30,
Intangibles - Goodwill and Other - General Intangibles Other than Goodwill
. The amendments are effective for annual and
interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, including
for annual and interim impairment tests performed as of a date before July 27, 2012, if a public entity’s financial statements
for the most recent annual or interim period have not yet been issued or, for nonpublic entities, have not yet been made available
for issuance. The adoption of ASU 2012-02 has not had a material impact on our financial position or results of operations.
In
December 2011, the FASB issued ASU 2011-12, “Deferral of the Effective Date for Amendments to the Presentation of Reclassifications
of Items out of Accumulated Other Comprehensive Income in Accounting Standards Update No. 2011-05. This update defers the requirement
to present items that are reclassified from accumulated other comprehensive income to net income in both the statement of income
where net income is presented and the statement where other comprehensive income is presented. The adoption of ASU 2011-12 has
not had a material impact on our financial position or results of operations.
Index
In
December 2011, the FASB issued ASU No. 2011-11 “Balance Sheet: Disclosures about Offsetting Assets and Liabilities”
(“ASU 2011-11”). This Update requires an entity to disclose information about offsetting and related arrangements
to enable users of its financial statements to understand the effect of those arrangements on its financial position. The objective
of this disclosure is to facilitate comparison between those entities that prepare their financial statements on the basis of
U.S. GAAP and those entities that prepare their financial statements on the basis of IFRS. The amended guidance is effective for
annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The Company is
currently evaluating the impact, if any, that the adoption of this pronouncement may have on its results of operations or financial
position.
PLAN
OF OPERATION
During the
next twelve months we plan to spend funds from our working capital balance as follows:
|
(1)
|
Costs
related to legal fees for the preparation and of the subsequent Form S-1 registration statement with the SEC.
|
|
|
|
|
(2)
|
Costs
related to the examination of potential property acquisitions.
|
|
|
|
|
(3)
|
Costs
of acquiring mineral properties.
|
|
|
|
|
(4)
|
Costs
related to trenching and surface sampling.
|
|
|
|
|
(5)
|
Costs
related to analyzing mineral claims.
|
|
|
|
|
(6)
|
Salaries
to be paid to officers of the corporation.
|
|
|
|
|
(7)
|
Costs
for accounting and auditing services.
|
|
|
|
|
(8)
|
Costs
of stationary, mail, telephone & other office supplies.
|
|
|
|
|
(9)
|
Our
exploration program would consist of the following 3 Phases to be carried out to test for diamond-bearing kimberlites within the
project.
|
PHASE
I (mag survey)
Phase
1 of our exploration program would consist of a ground-based magnetometer survey over the claim and is estimated to cost $10,000USD.
The
magnetometer survey completed on the Shipman property identified a portion of a magnetic high anomaly. Based on these results
the company has commenced a limited exploration program consisting of the collection of approximately 55 large soil samples. These
large soil samples can be analyzed at a future date, for diamond indicator minerals (chromite and pryope garnets) when the Company
has sufficient funds to pay for the analysis.
It
is recommended that 3 different phases (Phase 1, Phase 2 and Phase 3) of exploration programs be carried out to test for diamond-bearing
kimberlites within the project. To commence Phase 1 exploration program we would need $10,000 which would be spent as follows:
Preliminary review of assessment work
|
|
$
|
1,000.00
|
|
Mobilization/demobilization of crew
|
|
$
|
1,000.00
|
|
Pace and compass/GPS lines, estimated 7 line km, 25 m spacing
|
|
$
|
2,000.00
|
|
Detailed magnetometer survey, 7 line km
|
|
$
|
2,000.00
|
|
Base station and instrument rental
|
|
$
|
1,000.00
|
|
Consumables – flagging, pickets etc.
|
|
$
|
100.00
|
|
Accommodation/meals, 3 men
|
|
$
|
400.00
|
|
Drafting and report
|
|
$
|
1,500.00
|
|
Contingencies
|
|
$
|
1,000.00
|
|
|
|
|
|
|
TOTAL COST, PHASE 1 PROGRAM
|
|
$
|
10,000.00
|
|
Index
Based
on positive findings from Phase 1 exploration program management would decide if exploration Programs Phase 2 and Phase 3
should be commenced. If we don’t have enough funds for Phase 2 and Phase 3 exploration programs, we will have to find
alternative funding sources, like a second public offering, a private placement of securities, or loans from our officers or
others. At the present time, we have not made any arrangements to raise additional cash. If we need additional cash and
can’t raise it we will either have to suspend operations until we do raise the cash, or cease operations entirely. We
completed our public offering.
PHASE
1:
|
●
|
initiate
the 45 day permitting process within 30 days of completing our public offering and money being available to company for both
the Phase I mag survey and the Phase II survey (to expedite the permitting process work and to reduce administrative
redundancy);
|
|
|
|
|
●
|
mobilize
the geophysical contractor to complete the mag survey within 90 days from completing our offering; and
|
|
|
|
|
●
|
we
will require approximately 3 weeks to complete the survey and the data interpretation and summary report of our findings.
|
Based
on positive results from the Phase I mag survey - Phase II could be planned.
PHASE
2
Based
on results of the Phase 1 work a Phase 2 program would be initiated to provide additional information. This exploration program
would consist of a gravity survey to test the best targets determined from the Phase 1 work. The estimated cost of the Phase 2
program is $20,000USD.
This
exploration program would consist of the following:
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●
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previously
permitted at time of Phase I permitting;
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●
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could
commence 6-7 months from date of the date we completed our public offering (June 2013) and based on the positive results of Phase
1; and
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●
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the
geophysical contractor would require approximately 30 days to complete the survey, data processing and final summary report containing
their results and recommendations.
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PHASE
3.
Upon
the completion of Phases 1 and 2, and based on positive results, a diamond drill program would be initiated on targets generated
by the first two phases of work. This would consist of approximately 1000 m of drilling. The estimated cost of the Phase 3 program
is $250,000USD.
Phase
3 program would consist of the following steps:
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●
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the
45 days permitting process could be initiated upon the Companies receipt of the Phase 2 results. (permitting process could
begin anytime funding is available);
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●
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mobilize
drill contractor to site within 11 months of completing our public offering;
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|
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●
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drilling
would take approximately 3 weeks to complete;
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|
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|
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●
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drill
core laboratory analysis would require an additional 5 weeks (approximately); and
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●
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the
preparation of a report detailing the results of the drill program together with any correlation to previous geophysical survey
results would require an additional 4 weeks.
|
The
Phase 3 program would require a total of 18 weeks (4.5 months) from initiating of permitting process to receipt of final geological
report.
Index
At
this point completion of the drilling would be approximately 16 months after completing our public offering. Oro Capital Corporation
relied on the expert opinion and recommendations of Mr. Duncan Bain, Professional Geoscientist and whose Consent has been filed
as an exhibit to S-1. Dr. Duncan J. Bain, Professional Geoscientist, is the prior owner of the property and prepared a technical
report entitled “Summary Report on the Shipman Diamond Project (the “Technical Report”). We have consulted
with Dr. Bain from time to time and believe our estimates are reasonable in light of Dr. Bain’s expertise.
Our
president has advanced $15,000 in the form of a non-interest bearing loan which is in the form of a Promissory and Future Advances
Note dated May 28, 2013. Under the terms of the note, Mr. Danny Aaron, our President and sole shareholder, has agreed to advance
up to $45,000 to the Company, if, as and when requested. We believe that Mr. Aaron has the financial capability to advance monies
as set forth under the Note but we are subject to the uncertainties that may affect Mr. Aaron’s ability to loan money.
In
the event that the proceeds raised are insufficient to start exploring, we will attempt to raise additional money through a subsequent
private placement, public offering or through loans. If we do not raise all of the money we need to complete our exploration of
the property, we will have to find alternative sources, like a second public offering, a private placement of securities, or loans
from our officers or others. If we need additional cash and can’t raise it 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.
Results
of Operations
Three-Month
and Six-Month Periods Ended January 31, 2014 and 2013
We
recorded no revenues for the three months and six months ended January 31, 2014 and 2013. From the period of December 29, 2010
(inception) to January 31, 2014, we recorded no revenues.
For
the three months ending January 31, 2014, we incurred expenses of $20,677, consisting of consulting services of $13,250, general
and administrative expenses of $750, exploration of $4,400, rent of $750, legal and accounting services of $1,200 and imputed
interest expense of $327. By comparison, for the three months ending January 2013, we incurred expenses of $6,200 consisting of
consulting services of $750,rent of $750, legal and accounting services of $4,400 and imputed interest expense of $300. Our net
loss for the three months ending January 31, 2014 was $20,677, and our net loss for the three months ending January 31, 2013 was
$6,200.
For the
six months ending January 31, 2014, we incurred expenses of $29,088 consisting of consulting services of $14,000, general and
administrative expenses of $1,748, exploration of $4,400, rent of $1,500, legal and accounting services of $6,700 and imputed
interest expense of $740. By comparison, for the six months ending January 2013, we incurred expenses of $8,805 consisting of
consulting services of $1,500, rent of $1,500, general and administrative expenses $805, legal and accounting services of $4,400
and imputed interest expense of $600. Our net loss for the six months ending January 31, 2014 was $29,088, and our net loss for
the three six ending January 31, 2013 was $8,805.
From
the period of December 29, 2010 (inception) to January 31, 2014, our net loss was $77,336.
Liquidity
and Capital Resources
Our
cash balance at January 31, 2014 was $2,660 with $17,791 in outstanding liabilities. Total expenditures over the next 12 months
are expected to be approximately $57,000. If we experience a shortage of funds prior to generating revenues from operations we
may utilize funds from our directors, who have informally agreed to advance funds to allow us to pay for operating costs, however
they have no formal commitment, arrangement or legal obligation to advance or loan funds to us. Management believes our current
cash balance will not be sufficient to fund our operations for the next twelve months.
Index
Subsequent
Events
There
were no subsequent events up to the date the financial statements were issued.
ITEM
4. CONTROLS AND PROCEDURES.
DISCLOSURE
CONTROLS AND PROCEDURES
Under
the supervision and with the participation of our management, our principal executive officer and our principal financial officer
are responsible for conducting an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures,
as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as of the end of the fiscal year covered
by this report. Disclosure controls and procedures means that the material information required to be included in our Securities
and Exchange Commission reports is recorded, processed, summarized and reported within the time periods specified in SEC rules
and forms relating to our company, including any consolidating subsidiaries, and was made known to us by others within those entities,
particularly during the period when this report was being prepared. Based on this evaluation, our principal executive officer
and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were not effective
as of January 31, 2014.
There
were no changes in the Company’s internal controls over financial reporting during the most recently completed fiscal quarter
that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial
reporting.
PART
II. OTHER INFORMATION
ITEM
1. LEGAL PROCEEDINGS.
The
Company is not currently subject to any legal proceedings. From time to time, the Company may become subject to litigation or
proceedings in connection with its business, as either a plaintiff or defendant. There are no such pending legal proceedings to
which the Company is a party that, in the opinion of management, is likely to have a material adverse effect on the Company’s
business, financial condition or results of operations.
ITEM
1A.
RISK FACTORS
As
a smaller reporting company (as defined in Rule 12b-2 of the Exchange Act), we are not required to provide the information called
for by this Item 1A.
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.
Index
ITEM
6. EXHIBITS.
(a)
Exhibits required by Item 601 of Regulation SK.
Number
|
|
Description
|
|
|
|
3.1
|
|
Articles
of Incorporation*
|
|
|
|
3.2
|
|
Bylaws*
|
|
|
|
31.1
|
|
Certification
of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2
|
|
Certification
of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1
|
|
Certification
of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
101.INS **
|
|
XBRL
Instance Document
|
|
|
|
101.SCH **
|
|
XBRL
Taxonomy Extension Schema Document
|
|
|
|
101.CAL **
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document
|
|
|
|
101.DEF **
|
|
XBRL
Taxonomy Extension Definition Linkbase Document
|
|
|
|
101.LAB **
|
|
XBRL
Taxonomy Extension Label Linkbase Document
|
|
|
|
101.PRE **
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document
|
* Filed
and incorporated by reference to the Company’s Registration Statement on Form S-1, as amended (File No. 333-185103),
as filed with the Securities and Exchange Commission on November 21, 2012.
**
XBRL (Extensible Business Reporting Language) information is 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, is deemed not filed for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
Index
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.
|
ORO
CAPITAL CORPORATION
|
|
(Name
of Registrant)
|
|
|
Date:
March 3, 2014
|
By:
|
/s/
Danny Aaron
|
|
|
Name:
Danny Aaron
|
|
|
Title:
President, Chief Executive Officer, Secretary, Treasurer and Director (principal executive officer, principal financial officer,
and principal accounting officer)
|
Index