10-Q

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period ended October 31, 2017

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________ to _____________

Commission file number: 000-55690

MIRAGE ENERGY CORPORATION

(Exact name of registrant as specified in its charter)

NEVADA	33-1231170
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

900 Isom Rd., Ste. 306, San Antonio, TX	78216
(Address of principal executive offices)	(Zip Code)

(210) 858-3970

(Issuer's telephone number, including area code)

(Former name, former address and former fiscal year if changed since last report)

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 at least the past 90 days. Yes x No o

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 o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange:

Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	o
Emerging growth company	x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act.) Yes o No x

Indicate the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: December 20, 2017, there were 310,190,456 shares of the Company’s common stock were issued and outstanding.

MIRAGE ENERGY CORPORATION

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED OCTOBER 31, 2017

TABLE OF CONTENTS

		PAGE
	PART I - FINANCIAL INFORMATION
Item 1.	Unaudited Financial Statements.	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	16
Item 4.	Controls and Procedures.	16
	PART II - OTHER INFORMATION
Item 1.	Legal Proceedings.	17
Item 1A.	Risk Factors.	17
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	17
Item 3.	Defaults Upon Senior Securities.	17
Item 4.	Mine Safety Disclosures.	17
Item 5.	Other Information.	17
Item 6.	Exhibits.	18
	SIGNATURES	19

2

PART I – FINANCIAL INFORMATION

Item 1. Unaudited Financial Statements.

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission ("SEC"), and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company's 10-K for the year ending July 31, 2017 filed with the Securities and Exchange Commission. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year ending July 31, 2018.

3

MIRAGE ENERGY CORPORATION

INDEX TO CONSOLIDATED INTERIM FINANCIAL STATEMENTS

October 31, 2017

	Page
Consolidated Balance Sheets as of October 31, 2017 (Unaudited) and July 31, 2017	5
Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended October 31, 2017 and 2016 (Unaudited)	6
Consolidated Statements of Cash Flows for the Three Months Ended October 31, 2017 and 2016 (Unaudited)	7
Notes to the Consolidated Interim Financial Statements (Unaudited)	8

4

MIRAGE ENERGY CORPORATION

Consolidated Balance Sheets

	October 31,			July 31,
	2017			2017
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	748		$	11,776
Prepaid expenses		1,313			1,559
Total Current Assets		2,061			13,335
Property, plant and equipment, net		5,797			6,192
Other Assets
Deposits		6,921			6,921
Total Other Assets		6,921			6,921
TOTAL ASSETS	$	14,779		$	26,448
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Loans payable, related parties	$	214,694		$	208,678
Accounts payable and accrued liabilities		369,627			337,384
Convertible debentures		71,000			33,000
Accrued salaries and payroll taxes, related parties		1,030,127			854,553
Total Current Liabilities		1,685,448			1,433,615
Long-Term Liabilities
Loan payable		50,000			50,000
TOTAL LIABILITIES		1,735,448			1,483,615
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of October 31, 2017 and July 31, 2017		10,000			10,000
Common stock, par value $0.001, 900,000,000 shares authorized, 310,190,456 shares issued and outstanding as of October 31, 2017; 310,190,456 shares issued and outstanding as of July 31, 2017		310,190			310,190
Additional paid-in capital		66,101			66,101
Accumulated deficit		(2,106,860	)		(1,843,358	)
Accumulated other comprehensive loss		(100	)		(100	)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)		(1,720,669	)		(1,457,167	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)	$	14,779		$	26,448

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

5

MIRAGE ENERGY CORPORATION

Consolidated Statements of Operations and Comprehensive Loss

(Unaudited)

	Three Months Ended
	October 31,
	2017			2016
OPERATING EXPENSES
General and administrative expenses		227,882			190,926
Professional fees		30,482			14,488
Total Operating Expenses		258,364			205,414
LOSS FROM OPERATIONS		(258,364	)		(205,414	)
OTHER EXPENSE
Interest expense		5,138			1,029
Total Other Expense		5,138			1,029
LOSS BEFORE INCOME TAXES		(263,502	)		(206,443	)
NET LOSS		(263,502	)		(206,443	)
TOTAL COMPREHENSIVE LOSS	$	(263,502	)	$	(206,443	)
Basic and Diluted Loss per Common Share	$	(0.00	)	$	(0.01	)
Basic and Diluted Weighted Average Common Shares Outstanding		310,190,456			127,864,141

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

6

MIRAGE ENERGY CORPORATION

Consolidated Statement of Cash Flows

(Unaudited)

	Three Months Ended
	October 31,
	2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$	(263,502	)	$	(206,443	)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depreciation expense		395			396
Changes in operating assets and liabilities
Salary Advances		-			(10,000	)
Prepaid expenses		246			(8,378	)
Accounts payable		36,416			(45,015	)
Accrued expenses		14,247			15,004
Accrued salaries and payroll taxes, related parties		161,327			153.750
Net cash (used) in operating activities		(50,871	)		(100,686	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans receivable, related parties		-			(22,409	)
U.S. and Mexican project development costs		-			(22,099	)
Net cash (used) in investing activities		-			(44,508	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of convertible debentures		38,000			-
Proceeds from related parties loan payable		14,200			85,000
Repayments of related parties debt		(12,357	)		-
Net cash provided by financing activities		39,843			85,000
Effects on changes in foreign exchange rate		-			-
Net (decrease) in cash		(11,028	)		(60,194	)
Cash and cash equivalents - beginning of period		11,776			76,165
Cash and cash equivalents - end of period	$	748		$	15,971
Supplemental Cash Flow Disclosures
Cash paid for interest	$	641		$	1,029
Cash payments for income taxes	$	-		$	-
Non-Cash Transactions
Expenses paid by shareholder	$	4,173			-

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

7

MIRAGE ENERGY CORPORATION

Notes to the Consolidated Interim Financial Statements

October 31, 2017

(Unaudited)

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Mirage Energy Corporation (formerly Bridgewater Platforms Inc.) (the “Company”) is a Nevada corporation incorporated on May 6, 2014. On May 20, 2014, the Company incorporated a Canadian subsidiary known as Bridgewater Construction Ltd. in Ontario in association with its construction business. Mirage Energy Corporation is based at 900 Isom Rd Suite 306, San Antonio, TX 78216. The Company’s fiscal year end is July 31.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.

In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s 10-K filed with the Securities and Exchange Commission on November 30, 2017.

Earnings or Loss per Share:

The Company accounts for earnings per share pursuant to ASC 260, Earnings per Share, which requires disclosure on the financial statements of “basic” and “diluted” earnings (loss) per share. Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common shares outstanding for the year. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus common stock equivalents (if dilutive) related to convertible debt, stock options and warrants for each year.

As of October 31, 2017 and 2016, there were no stock equivalents so basic and diluted losses per share in each of the period presented are the same.

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Basis of Consolidation

These financial statements include the accounts of the Company and its wholly owned subsidiaries, 4Ward Resources, Inc., Cenote Energy, S. de R.L. de C.V., WPF Transmission, Inc., and WPF Mexico Pipelines, S. de R.L. de C.V. All material intercompany balances and transactions have been eliminated.

NOTE 3 - GOING CONCERN

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company had a net loss of $263,502 and had net cash used in operations of $50,871 for the three months ended October 31, 2017 and had an accumulated deficit and working capital deficit of $2,106,860 and $1,683,387 at that date. The Company has not established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about its ability to continue as a going concern.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan to obtain such resources for the Company may include, but not be limited to: sales of equity instruments; traditional financing, such as loans; sale of participation interests and obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.

There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

9

NOTE 4 - DEBT

A summary of debt at October 31, 2017 and July 31, 2017 is as follows:

	October 31,		July 31,
	2017		2017
Notes payables related party, unsecured, interest bearing at 5% rate per annum, on demand	$	182,600	$	187,600
Note, unsecured interest bearing at 2% per annum, due 07/09/2020		50,000		50,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 12/25/2017 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 03/30/2018		33,000		33,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 02/18/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 05/30/2018		38,000		-
Loan payable related party, unsecured, non-interest bearing, on demand		32,094		21,078
Total Debt		335,694		291,678
Less: Current Maturities		285,694		241,678
Total Long-Term Debt	$	50,000	$	50,000

The Company analyzed the conversion option in the notes for derivative accounting treatment under ASC Topic 815, “Derivatives and Hedging,” and determined that the instrument does not qualify for derivative accounting.

NOTE 5 - RELATED PARTY TRANSACTIONS

As of October 31, 2017 and 2016, the CEO and two other members of management and one other employee had earned accrued unpaid salary in the amount of $987,750, as of October 31, 2017. Accrued salaries of $987,750 combined with accrued payroll taxes of $42,377 for a total accrued related party salaries and payroll tax of $1,030,127 for the year ended.

Also, Mr. Michael Ward, President, is owed $21,078 at July 31, 2017 which has increased to $32,094 as of October 31, 2017 resulting from $14,200 of cash proceeds, expenses paid of $4,173, and repayments of $7,357. Additionally, a company owned by the spouse of the CEO provided a loan of $187,600 to 4Ward Resources, Inc. Due to a $5,000 payment made during the quarter ended, the balance was decreased to a total loan amount of $182,600.

NOTE 6 – LEASES

On June 9, 2016, the Company entered into a Lease Agreement for its San Antonio, Texas office lease location. The Lease Period is for three (3) years beginning July 1, 2016. The Company shall pay as additional rent all other sums of money as shall become due and payable by them under this Lease. To date after sixteen (16) months of this thirty-six (36) month lease, no such additional charges have been made. Below is the schedule of rent for the remaining Lease term as of October 31, 2017.

10

Year	Amount
2018	$	67,854.28
2019	$	69,204.60
Total Remaining Base Rent	$	137,058.88

NOTE 7 - COMMITMENTS AND CONTINGENCIES

The Company has committed to Marcos y Asociados for services as of October 31, 2017, two (2) months of Acquisition of Pipeline Rights of Way remaining of the original eighteen (18) months commitment at $5,000 per month which leaves remaining balance of $10,000.

From time to time the Company may become a party to litigation matters involving claims against the Company. Management believes that it is adequately insured for its operations and there are no current matters that would have a material effect on the Company’s financial position or results of operations.

NOTE 8 - SUBSEQUENT EVENTS

On December 4, 2017, Mirage Energy Corporation entered into Securities Purchase Agreement with PowerUp Lending Group, Ltd. to issue an additional amount of convertible debenture in the amount of $53,000. Convertible debenture, unsecured, interest bearing at 12% per annum, convertible at 06/2/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 09/15/2018.

11

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

Except for historical information, this report contains certain forward-looking statements. Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses. Such forward-looking statements include, among others, those statements including the words “expects,” “anticipates,” “intends,” “believes” and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed herein as well as in the “Current Business” and "Risk Factors" sections in our 10-K, as filed on November 30, 2017 . You should carefully review the risks described in our documents we file from time to time with the Securities and Exchange Commission (“SEC”). You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.

All references in this Form 10-Q to the “Company,” “Mirage Energy,” “we,” “us,” or “our” are to Mirage Energy Corporation (formerly Bridgewater Platforms Inc.)

Corporate Overview

Company’s Plans

The Company has proposed to develop an integrated natural gas pipeline system in Texas and Mexico. The purpose of these pipelines will be to transport and store natural gas in an underground natural gas storage facility, which the Company proposes to permit and develop in northern Mexico. The Company believes that it has made substantial progress toward these goals with its preliminary project engineering designs and high level meetings with representatives of various Mexican regulatory agencies.

Discussion and Analysis of Financial Condition and Results of Operations

Results of Operations

Three Months ended October 31, 2017 and 2016

Revenues

Three month period ended October 31, 2017

For the three (3) month period ended October 31, 2017, we generated no revenue and incurred a net loss of $263,502.

Our net loss of $263,502 for the three (3) month period ended October 31, 2017 was the result of operating expenses of $258,364 and other expense (comprised of interest expense) of $5,138. Our operating expenses consisted of $227,882 in general and administrative expenses, and $30,482 in professional fees.

12

Three month period ended October 31, 2016

For the three (3) month period ended October 31, 2016, we generated no revenue and incurred a net loss of $206,443.

Our net loss of $206,443 for the three (3) month period ended October 31, 2016 was the result of operating expenses of $205,414 and other expense (comprised of interest expense) of $1,029. Our operating expenses consisted of $190,926 in general and administrative expenses, and $14,488 in professional fees.

Costs and Expenses

Our primary costs going forward are related to engineering, travel, professional fees, and legal fees associated with our proposed pipeline and natural gas storage activities in Mexico.

For the three (3) months ended October 31, 2017 and October 31, 2016, total general and administrative expenses were $227,882 and $190,926, respectively.

For the three (3) months ended October 31, 2017, we had $227,882 in general and administrative expenses compared to $190,926 in general and administrative expenses for the three (3) months ended October 31, 2016. The $36,956 increase in general and administrative expenses was primarily the result of spending related to executive compensation, office rental, travel and entertainment, public relations fees and other general and administrative expenses.

The professional fees for the three (3) months ending October 31, 2017 and October 31, 2016 were $30,482 and $14,488, respectively. The $15,994 increase was primarily related to increases in legal fees, auditing fees and other professional fees.

The executive compensation for the three (3) months ending October 31, 2017 and October 31, 2016 was $116,500 and $116,500, respectively. No change was due to same executives on the payroll during this quarter ended.

Liquidity and Capital Resources

Cash Flows

Operating Activities

For the three (3) month period ended October 31, 2017, net cash used in operating activities was $50,871. The negative cash flow for the three (3) months ended October 31, 2017 related to our net loss of $263,502, an increase in prepaid expenses of $246, adjusted for depreciation of $395, an increase of $36,416 in accounts payable, an increase of $14,247 in accrued expenses and an increase of $161,327 in accrued salaries and payroll taxes – related parties.

For the three (3) month period ended October 31, 2016, net cash used in operating activities was $100,686. The negative cash flow for the three (3) months ended October 31, 2016 related to our net loss of $206,443, plus salary advances of $10,000, prepaid expenses of $8,378, adjusted for depreciation of $396, a decrease of $45,015 in accounts payable, an increase of $15,004 in accrued expenses and an increase of $153,750 in accrued salaries – related parties.

13

Investing Activities

For the three (3) months ended October 31, 2017 net cash used in investing activities was nil.

For the three (3) months ended October 31, 2016 net cash used in investing activities was $44,508. The negative cash flow from investing activities for such period was comprised of loans receivable – officer in the amount of $22,409 and project development costs of $22,099.

Financing Activities

For the three (3) months ended October 31, 2017, net cash used from financing activities was $39,843. The negative cash flow from financing activities for such period was comprised of an increase in loans payable from related parties and proceeds from a long-term loan and convertible debenture.

For the three (3) months ended October 31, 2016, net cash provided from financing activities was $85,000. The positive cash flow from financing activities for such period was comprised of an increase in loans payable from related parties.

Liquidity

To date, we have funded our operations primarily with capital provided and loans provided by related parties, accruable of salaries and accounts payable along with sale of convertible debentures and a loan both from unrelated parties.

As of October 31, 2017, Mirage Energy Corporation had $748 in cash on hand and prepaid expenses of $1,313. Since Mirage Energy Corporation was unable to reasonably project its future revenue, it must presume that it will not generate any revenue during the next twelve (12) to twenty-four (24) months. We therefore will need to obtain additional debt or equity funding in the next two (2) – three (3) months, but there can be no assurances that such funding will be available to us in sufficient amounts or on reasonable terms.

The Company’s audited financial statements for the year ended July 31, 2017 contain a “going concern” qualification. As discussed in Note 3 of the Notes to Financial Statements, the Company has incurred losses and has not demonstrated the ability to generate cash flows from operations to satisfy its liabilities and sustain operations. Because of these conditions, our independent auditors have raised substantial doubt about our ability to continue as a going concern.

Our financial objective is to make sure the Company has the cash and debt capacity to fund on-going operating activities, investments and growth. We intend to fund future capital needs through our current cash position, additional credit facilities, future operating cash flow and debt or equity financing. We are continually evaluating these options to make sure we have capital resources to meet our needs.

Existing capital resources are insufficient to support continuing operations of the Company over the next 12 months.

Management makes no assurances that adequate capital resources will be available to support continuing operations over the next 12 months. Management plans to pursue additional capital funding through multiple sources.

For the three months ended October 31, 2017, the Company has funded operations $39,843 through loan proceeds of $38,000, proceeds from related parties’ loan payable of $14,200 less repayments of related parties’ debt of $12,357. The $38,000 loan proceeds are from a sale of a convertible debenture. The Company plans to raise additional funds through various sources to support ongoing operations during 2017 and 2018.

While no assurances can be given regarding the achievement of future results as actual results may differ materially, management anticipates adequate capital resources to support continuing operations over the next 12 months through the combination of infused capital through exercised warrants, infused capital through non-public private placement and existing cash reserves.

14

Critical Accounting Policies

Our financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition

The Company recognizes revenues when earned which shall be as products are shipped and services are delivered to customers or distributors. The Company shall also record accounts receivable for revenue earned but not yet collected.

Income Taxes

Income taxes are provided based upon the liability method of accounting pursuant to FASB ASC 740-10-25 Income Taxes – Recognition. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by FASB ASC 740-10-25-5.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for income tax purposes.

At July 31, 2017, the Company had net operating loss carry forwards of approximately ($794,945), which will begin to expire in 2036 and are calculated at an expected tax rate of approximately 34%.

FASB ASC 740 prescribes recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FASB ASC 740 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. At December 31, 2015, the Company has not taken any tax positions that would require disclosure under FASB ASC 740.

Pursuant to FASB ASC 740, income taxes are provided for based upon the liability method of accounting. Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the “more likely than not” standard imposed by FASB ASC 740 to allow recognition of such assets.

Earnings (Loss) Per Share (“EPS”)

FASB ASC 260, Earnings Per Share provides for calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income (loss) available to common shareholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity similar to fully diluted earnings per share. Basic and diluted losses per share were the same at the reporting dates as there were no common stock equivalents considered dilutive and outstanding.

Derivative Instruments

FASB ASC 815, Derivatives and Hedging establishes accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. They require that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value.

15

If certain conditions are met, a derivative may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk; or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging instrument, the gain or loss is recognized in income in the period of change.

Impairment of Long-Lived Assets

Long-lived assets of the Company, including the Technology Rights, are reviewed for impairment when changes in circumstances indicate their carrying value has become impaired, pursuant to guidance established in the FASB ASC 360, “Accounting for the Impairment or Disposal of Long-Lived Assets.” Management considers assets to be impaired if the carrying amount of an asset exceeds the future projected cash flows from related operations (undiscounted and without interest charges). If impairment is deemed to exist, the asset will be written down to fair value, and a loss is recorded as the difference between the carrying value and the fair value. Fair values are determined based on quoted market values, discounted cash flows, or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value.

Fair Value of Financial Instruments

The Company’s financial instruments as defined by FASB ASC 825-10-50 include cash, trade accounts receivable, and accounts payable and accrued expenses.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Inflation

It is our opinion that inflation has not had a material effect on our operations.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As a “smaller reporting Company”, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures.

Management’s Report on Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our president (our principal executive officer, principal financial officer and principal accounting officer) to allow for timely decisions regarding required disclosure.

As of the end of the quarter covered by this report, we carried out an evaluation, under the supervision and with the participation of our president (our principal executive officer, principal financial officer and principle accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our president (our principal executive officer, principal financial officer and principal accounting officer) concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this quarterly report due to our limited member of officers and members of the Board of Directors.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal controls over financial reporting that occurred during the quarter ended October 31, 2017, that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

16

PART II-OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no material legal proceedings pending against the Company to the knowledge of management.

ITEM 1A. RISK FACTORS

As a “smaller reporting company”, we are not required to provide the information required by 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

Not applicable.

ITEM 5. OTHER INFORMATION

None.

17

ITEM 6. EXHIBITS

31.1	Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101	The following financial information from our Quarterly Report on Form 10-Q for the quarter ended January 31, 2017 formatted in Extensible Business Reporting Language (XBRL): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) Condensed Notes to Interim Consolidated Financial Statements

18

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: December 20, 2017

Mirage Energy Corporation

(Registrant)

By:	/s/ Michael R. Ward	/s/ Michael R. Ward
	Michael R. Ward	Michael R. Ward
	Chief Executive Officer (Principal Executive Officer)	Chief Financial Officer (Principal Accounting Officer)

19

EX-31.1

EXHIBIT 31.1

CERTIFICATION

I, Michael Ward, Chief Executive and Principal Accounting Officer of Mirage Energy Corporation, certify that:

1.	I have reviewed this Quarterly Report (“Report”) on Form 10-Q of Mirage Energy Corporation;
2.	Based on my knowledge, this Report does not contain any untrue statement of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report;
3.	Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Report;
4.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)	designed such disclosure controls and procedures, or caused such disclosure control and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this Report is being prepared;
b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c)	evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this Report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this Report based on such evaluation;
d)	disclosed in this Report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process summarize and report financial information; and
b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: December 20, 2017

/s/ Michael Ward

Michael Ward

Chief Executive Officer

Principal Accounting Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Mirage Energy Corporation (the "Company") on Form 10-Q for the period ended October 31, 2017, as filed with the Securities and Exchange Commission on or about the date hereof (the "Report"), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: December 20, 2017

/s/ Michael Ward

Michael Ward

Chief Executive Officer

Principal Accounting Officer

XML

Document and Entity Information - shares	3 Months Ended
	Oct. 31, 2017	Dec. 20, 2017
Document And Entity Information
Entity Registrant Name	Mirage Energy Corp
Entity Central Index Key	0001623360
Document Type	10-Q
Current Fiscal Year End Date	--07-31
Document Period End Date	Oct. 31, 2017
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Amendment Flag	false
Trading Symbol	mrge
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		310,190,456
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2018

XML

Consolidated Balance Sheets - USD ($)	Oct. 31, 2017	Jul. 31, 2017
Current Assets
Cash and cash equivalents	$ 748	$ 11,776
Prepaid expenses	1,313	1,559
Total Current Assets	2,061	13,335
Property, plant and equipment, net	5,797	6,192
Other Assets
Deposits	6,921	6,921
Total Other Assets	6,921	6,921
TOTAL ASSETS	14,779	26,448
Current Liabilities
Loans payable, related parties	214,694	208,678
Accounts payable and accrued liabilities	369,627	337,384
Convertible debentures	71,000	33,000
Accrued salaries and payroll taxes, related parties	1,030,127	854,553
Total Current Liabilities	1,685,448	1,433,615
Long-Term Liabilities
Loan payable	50,000	50,000
TOTAL LIABILITIES	1,735,448	1,483,615
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of October 31, 2017 and July 31, 2017	10,000	10,000
Common stock, par value $0.001, 900,000,000 shares authorized, 310,190,456 shares issued and outstanding as of October 31, 2017; 310,190,456 shares issued and outstanding as of July 31, 2017	310,190	310,190
Additional paid-in capital	66,101	66,101
Accumulated deficit	(2,106,860)	(1,843,358)
Accumulated other comprehensive loss	(100)	(100)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(1,720,669)	(1,457,167)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 14,779	$ 26,448

XML

Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 31, 2017	Jul. 31, 2017
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	310,190,456	310,190,456
Common stock, shares outstanding	310,190,456	310,190,456
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	10,000,000	10,000,000
Preferred stock, shares outstanding	10,000,000	10,000,000

XML

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
OPERATING EXPENSES
General and administrative expenses	$ 227,882	$ 190,926
Professional fees	30,482	14,488
Total Operating Expenses	258,364	205,414
LOSS FROM OPERATIONS	(258,364)	(205,414)
OTHER EXPENSE
Interest expense	5,138	1,029
Total Other Expense	5,138	1,029
LOSS BEFORE INCOME TAXES	(263,502)	(206,443)
NET LOSS	(263,502)	(206,443)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustments
TOTAL COMPREHENSIVE LOSS	$ (263,502)	$ (206,443)
Basic and Diluted Loss per Common Share	$ (0.00)	$ (0.00)
Basic and Diluted Weighted Average Common Shares Outstanding	310,190,456	127,864,141

XML

Consolidated Statement of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$ (263,502)	$ (206,443)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depreciation expense	395	396
Changes in operating assets and liabilities
Salary Advances		(10,000)
Prepaid expenses	246	(8,378)
Accounts payable	36,416	(45,015)
Accrued expenses	14,247	15,004
Accrued salaries and payroll taxes, related parties	161,327	153,750
Net cash (used) in operating activities	(50,871)	(100,686)
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans receivable, related parties		(22,409)
U.S. and Mexican project development costs		(22,099)
Net cash (used) in investing activities		(44,508)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of convertible debenture	38,000
Proceeds from related parties, loans payable	14,200	85,000
Repayments of related parties debt	(12,357)
Net cash provided by financing activities	39,843	85,000
Effects on changes in foreign exchange rate
Net (decrease) in cash	(11,028)	(60,194)
Cash and cash equivalents - beginning of period	11,776	76,165
Cash and cash equivalents - end of period	748	15,971
Supplemental Cash Flow Disclosures
Cash paid for interest	641	1,029
Cash payments for income taxes
Non-Cash Transactions
Expenses paid by shareholder	$ 4,173

XML

ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Mirage Energy Corporation (formerly Bridgewater Platforms Inc.) (the “Company”) is a Nevada corporation incorporated on May 6, 2014. On May 20, 2014, the Company incorporated a Canadian subsidiary known as Bridgewater Construction Ltd. in Ontario in association with its construction business. Mirage Energy Corporation is based at 900 Isom Rd Suite 306, San Antonio, TX 78216. The Company’s fiscal year end is July 31.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.

In the opinion of management, all adjustments consisting of normal recurring entries necessary for a fair statement of the periods presented for: (a) the financial position; (b) the result of operations; and (c) cash flows, have been made in order to make the financial statements presented not misleading. The results of operations for such interim periods are not necessarily indicative of operations for a full year. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s 10-K filed with the Securities and Exchange Commission on November 30, 2017.

Earnings or Loss per Share:

The Company accounts for earnings per share pursuant to ASC 260, Earnings per Share, which requires disclosure on the financial statements of “basic” and “diluted” earnings (loss) per share. Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common shares outstanding for the year. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding plus common stock equivalents (if dilutive) related to convertible debt, stock options and warrants for each year.

As of October 31, 2017 and 2016, there were no stock equivalents so basic and diluted losses per share in each of the period presented are the same.

Basis of Consolidation

These financial statements include the accounts of the Company and its wholly owned subsidiaries, 4Ward Resources, Inc., Cenote Energy, S. de R.L. de C.V., WPF Transmission, Inc., and WPF Mexico Pipelines, S. de R.L. de C.V. All material intercompany balances and transactions have been eliminated.

XML

GOING CONCERN

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 3 - GOING CONCERN

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company had a net loss of $263,502 and had net cash used in operations of $50,871 for the three months ended October 31, 2017 and had an accumulated deficit and working capital deficit of $2,106,860 and $1,683,387 at that date. The Company has not established an ongoing source of revenues sufficient to cover its operating cost, and requires additional capital to commence its operating plan. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt about its ability to continue as a going concern.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan to obtain such resources for the Company may include, but not be limited to: sales of equity instruments; traditional financing, such as loans; sale of participation interests and obtaining capital from management and significant stockholders sufficient to meet its minimal operating expenses. However, management cannot provide any assurance that the Company will be successful in accomplishing any of its plans.

There is no assurance that the Company will be able to obtain sufficient additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to the Company. In addition, profitability will ultimately depend upon the level of revenues received from business operations. However, there is no assurance that the Company will attain profitability. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

XML

DEBT

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 4 - DEBT

A summary of debt at October 31, 2017 and July 31, 2017 is as follows:

	October 31,		July 31,
	2017		2017
Notes payables related party, unsecured, interest bearing at 5% rate per annum, on demand	$	182,600	$	187,600
Note, unsecured interest bearing at 2% per annum, due 07/09/2020		50,000		50,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 12/25/2017 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 03/30/2018		33,000		33,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 02/18/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 05/30/2018		38,000		-
Loan payable related party, unsecured, non-interest bearing, on demand		32,094		21,078
Total Debt		335,694		291,678
Less: Current Maturities		285,694		241,678
Total Long-Term Debt	$	50,000	$	50,000

The Company analyzed the conversion option in the notes for derivative accounting treatment under ASC Topic 815, “Derivatives and Hedging,” and determined that the instrument does not qualify for derivative accounting.

XML

RELATED PARTY TRANSACTIONS

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 5 - RELATED PARTY TRANSACTIONS

As of October 31, 2017 and 2016, the CEO and two other members of management and one other employee had earned accrued unpaid salary in the amount of $987,750, as of October 31, 2017. Accrued salaries of $987,750 combined with accrued payroll taxes of $42,377 for a total accrued related party salaries and payroll tax of $1,030,127 for the year ended.

Also, Mr. Michael Ward, President, is owed $21,078 at July 31, 2017 which has increased to $32,094 as of October 31, 2017 resulting from $14,200 of cash proceeds, expenses paid of $4,173, and repayments of $7,357. Additionally, a company owned by the spouse of the CEO provided a loan of $187,600 to 4Ward Resources, Inc. Due to a $5,000 payment made during the quarter ended, the balance was decreased to a total loan amount of $182,600.

XML

LEASES

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 6 – LEASES

On June 9, 2016, the Company entered into a Lease Agreement for its San Antonio, Texas office lease location. The Lease Period is for three (3) years beginning July 1, 2016. The Company shall pay as additional rent all other sums of money as shall become due and payable by them under this Lease. To date after sixteen (16) months of this thirty-six (36) month lease, no such additional charges have been made. Below is the schedule of rent for the remaining Lease term as of October 31, 2017.

Year	Amount
2018	$	67,854.28
2019	$	69,204.60
Total Remaining Base Rent	$	137,058.88

XML

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 7 - COMMITMENTS AND CONTINGENCIES

The Company has committed to Marcos y Asociados for services as of October 31, 2017, two (2) months of Acquisition of Pipeline Rights of Way remaining of the original eighteen (18) months commitment at $5,000 per month which leaves remaining balance of $10,000.

From time to time the Company may become a party to litigation matters involving claims against the Company. Management believes that it is adequately insured for its operations and there are no current matters that would have a material effect on the Company’s financial position or results of operations.

XML

SUBSEQUENT EVENTS

3 Months Ended

Oct. 31, 2017

Notes to Financial Statements

NOTE 8 - SUBSEQUENT EVENTS

On December 4, 2017, Mirage Energy Corporation entered into Securities Purchase Agreement with PowerUp Lending Group, Ltd. to issue an additional amount of convertible debenture in the amount of $53,000. Convertible debenture, unsecured, interest bearing at 12% per annum, convertible at 06/2/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 09/15/2018.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Oct. 31, 2017

Summary Of Significant Accounting Policies Policies

Basis of Consolidation

These financial statements include the accounts of the Company and its wholly owned subsidiaries, 4Ward Resources, Inc., Cenote Energy, S. de R.L. de C.V., WPF Transmission, Inc., and WPF Mexico Pipelines, S. de R.L. de C.V. All material intercompany balances and transactions have been eliminated.

XML

DEBT (Table)

3 Months Ended

Oct. 31, 2017

Debt Table

Schedule of debt

	October 31,		July 31,
	2017		2017
Notes payables related party, unsecured, interest bearing at 5% rate per annum, on demand	$	182,600	$	187,600
Note, unsecured interest bearing at 2% per annum, due 07/09/2020		50,000		50,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 12/25/2017 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 03/30/2018		33,000		33,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 02/18/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 05/30/2018		38,000		-
Loan payable related party, unsecured, non-interest bearing, on demand		32,094		21,078
Total Debt		335,694		291,678
Less: Current Maturities		285,694		241,678
Total Long-Term Debt	$	50,000	$	50,000

XML

LEASES (Table)

3 Months Ended

Oct. 31, 2017

Leases Table

Schedule of rent for the remaining Lease term

Year	Amount
2018	$	67,854.28
2019	$	69,204.60
Total Remaining Base Rent	$	137,058.88

XML

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	3 Months Ended
	Oct. 31, 2017
Organization And Description Of Business Details Narrative
Date of incorporation	May 06, 2014
State of incorporation	Nevada

XML

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Oct. 31, 2017	Oct. 31, 2016	Jul. 31, 2017
Going Concern Details Narrative
Net loss	$ (263,502)	$ (206,443)
Net cash used in operations	(50,871)	$ (100,686)
Accumulated deficit	(2,106,860)		$ (1,843,358)
Working capital deficit	$ (1,683,387)

XML

DEBT ( Details) - USD ($)	Oct. 31, 2017	Jul. 31, 2017
Debt Details
Notes payables, unsecured, interest bearing at 5% rate per annum, on demand	$ 182,600	$ 187,600
Note, unsecured interest bearing at 2% per annum, due 07/09/2020	50,000	50,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 12/25/2017 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 03/30/2018	33,000	33,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, convertible at 02/18/2018 with conversion price at a discount rate of 45% of market price which is the average of the lowest trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of 05/30/2018	38,000
Loan payable related party, unsecured, non-interest bearing, on demand	32,094	21,078
Total Debt	335,694	291,678
Less: Current Maturities	285,694	241,678
Total Long-Term Debt	$ 50,000	$ 50,000

XML

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Oct. 31, 2017	Jul. 31, 2017	Oct. 31, 2016
Accrued payroll taxes	$ 42,377
Accrued salaries and payroll taxes, related parties	1,030,127	$ 854,553
Loan amount	182,600
4Ward Resources Inc [Member]
Loans payable	5,000
Mr. Michael Ward [Member]
Due to related parties		$ 21,078
Due to related parties, increase	32,094
Cash proceeds	14,200
Payment of expense	4,173
Repayments of related parties	7,357
President And Ceo [Member]
Accrued unpaid salaries	987,750		$ 987,750
Spouse Of Ceo [Member]
Proceeds from loan	$ 187,600

XML

LEASES (Details)	Oct. 31, 2017 USD ($)
Leases Details
2018	$ 67,854
2019	69,205
Total Remaining Base Rent	$ 137,059

XML

LEASES (Details Narrative)

3 Months Ended

Oct. 31, 2017

Leases Details Narrative

Lease agreement description

The Lease Period is for three (3) years beginning July 1, 2016. The Company shall pay as additional rent all other sums of money as shall become due and payable by them under this Lease. To date after sixteen (16) months of this thirty-six (36) month lease, no such additional charges have been made. Below is the schedule of rent for the remaining Lease term as of October 31, 2017.

XML

COMMITMENTS AND CONTINGENCIES (Details Narrative)	3 Months Ended
	Oct. 31, 2017 USD ($)
Commitments And Contingencies Details Narrative
Acquisition description	The Company has committed to Marcos y Asociados for services as of October 31, 2017, two (2) months of Acquisition of Pipeline Rights of Way remaining of the original eighteen (18) months
Commitment and contingencies remaining balance	$ 10,000
Commitment and contingencies per month	$ 5,000

XML

SUBSEQUENT EVENTS ( Details Narrative) - USD ($)	Dec. 04, 2017	Oct. 31, 2017	Jul. 31, 2017
Additional amount of convertible debenture		$ 33,000	$ 33,000
Subsequent Event [Member] | Securities Purchase Agreement [Member] | PowerUp Lending Group, Ltd [Member]
Additional amount of convertible debenture	$ 53,000
Interest rate	12.00%
Conversion price	45.00%
Maturity date	Sep. 15, 2018