10-Q

OMB APPROVAL

OMB Number: 3235-0070

Expires: October 31, 2021

Estimated average burden

hours per response 190.42

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 January 31, 2019

OR

¨ 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 ¨

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

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company 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	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	¨
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 ¨ No x

Indicate the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: March 22, 2019 there were 393,742,660 shares of the Company’s common stock were issued and outstanding.

MIRAGE ENERGY CORPORATION

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JANUARY 31, 2019

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.		15
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.		18
Item 4.	Controls and Procedures.		18
	PART II - OTHER INFORMATION
Item 1.	Legal Proceedings.		19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.		19
Item 3.	Defaults Upon Senior Securities.		19
Item 4.	Mine Safety Disclosures.		19
Item 5.	Other Information.		19
Item 6.	Exhibits.		19
	SIGNATURES		20

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, 2018 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, 2019.

3

MIRAGE ENERGY CORPORATION

INDEX TO CONSOLIDATED INTERIM FINANCIAL STATEMENTS

January 31, 2019

	Page
Consolidated Balance Sheets as of January 31, 2019 (Unaudited) and July 31, 2018		5
Consolidated Statements of Operations and Comprehensive Loss for the Three Months and Six Months Ended January 31, 2019 and 2018 (Unaudited)		6
Consolidated Statements of Cash Flows for the Six Months Ended January 31, 2019 and 2018 (Unaudited)		7
Notes to the Consolidated Interim Financial Statements (Unaudited)		8

4

MIRAGE ENERGY CORPORATION

Consolidated Balance Sheets

	January 31,			July 31,
	2019			2018
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	66,801		$	13,480
Prepaid expenses		2,017			2,306
Total Current Assets		68,818			15,786
Property, plant and equipment, net		3,821			4,611
Other Assets
Deposits		6,921			6,921
Total Other Assets		6,921			6,921
TOTAL ASSETS	$	79,560		$	27,318
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current Liabilities
Loans payable, related parties	$	48,897		$	155,105
Accounts payable and accrued liabilities		618,467			479,964
Loan payable		77,844			77,844
Convertible debentures		2,440,131			257,206
Accrued salaries and payroll taxes, related parties		1,669,230			1,413,176
Total Current Liabilities		4,854,569			2,383,295
Long-Term Liabilities
Loan payable		50,000			50,000
TOTAL LIABILITIES		4,904,569			2,433,295
STOCKHOLDERS’ EQUITY (DEFICIT)
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of January 31, 2019 and July 31, 2018		10,000			10,000
Common stock, par value $0.001, 900,000,000 shares authorized, 359,320,042 shares issued and outstanding as of January 31, 2019; 342,628,540 shares issued and outstanding as of July 31, 2018		359,320			342,628
Additional paid-in capital		911,566			580,540
Accumulated deficit		(6,105,795	)		(3,339,045	)
Accumulated other comprehensive loss		(100	)		(100	)
TOTAL STOCKHOLDERS’ (DEFICIT)		(4,825,009	)		(2,405,977	)
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT)	$	79,560		$	27,318

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						Six Months Ended
	January 31,						January 31,
	2019			2018			2019			2018
OPERATING EXPENSES
General and administrative expenses	$	222,004		$	311,730		$	434,681		$	539,612
Professional fees		15,387			15,086			54,690			45,568
Total Operating Expenses		237,391			326,816			489,371			585,180
LOSS BEFORE OPERATIONS		(237,391	)		(326,816	)		(489,371	)		(585,180	)
OTHER EXPENSE
Interest expense		2,122,464			109,652			2,277,379			114,790
Total Other Expense		2,122,464			109,652			2,277,379			114,790
LOSS BEFORE INCOME TAXES		(2,359,855	)		(436,468	)		(2,766,750	)		(699,970	)
NET LOSS		(2,359,855	)		(436,468	)		(2,766,750	)		(699,970	)
TOTAL COMPREHENSIVE LOSS	$	(2,359,855	)	$	(436,468	)	$	(2,766,750	)	$	(699,970	)
Basic and Diluted Loss per Common Share	$	(0.01	)	$	(0.00	)	$	(0.01	)	$	(0.00	)
Basic and Diluted Weighted Average Common Shares Outstanding		354,817,868			310,904,153			352,557,635			310,550,977

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

6

MIRAGE ENERGY CORPORATION

Consolidated Statement of Cash Flows

(Unaudited)

	Six Months Ended
	January 31,
	2019			2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$	(2,766,750	)	$	(699,970	)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depreciation expense		790			790
Financing Fees		16,500			10,000
Loss on change in fair value of convertible debt		1,976,755			65,164
Penalty on convertible debt		267,250			35,500
Issuance of stock for services and fees		-			42,500
Changes in operating assets and liabilities
Prepaid expenses		289			(219	)
Accounts payable		167,876			135,345
Accrued expenses		2,580			9,155
Accrued salaries and payroll taxes, related parties		256,054			294,250
Net cash (used) in operating activities		(78,656	)		(107,485	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan, related party		-			27,434
Repayment of loan, related party		(115,023	)		(18,357	)
Proceeds from sale of common stock		125,000			-
Proceeds from convertible debt		122,000			127,640
Net cash provided by financing activities		131,977			136,717
Net increase in cash		53,321			29,232
Cash and cash equivalents - beginning of period		13,480			11,776
Cash and cash equivalents - end of period	$	66,801		$	41,008
Supplemental Cash Flow Disclosures
Cash paid for interest	$	1,113		$	2,321
Cash payments for income taxes	$	-		$	-
Supplemental Non-Cash Activity Disclosures
Expenses paid by shareholder	$	8,815		$	4,173
Stock issued for convertible interest	$	5,215		$	-
Stock issued for convertible debt	$	217,503		$	88,988
Proceeds from sale of convertible debt paid directly to vendor	$	20,000		$	28,360

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

7

MIRAGE ENERGY CORPORATION

Notes to the Consolidated Interim Financial Statements

January 31, 2019

(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

Basis of Presentation

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 December 24, 2018.

Net Loss Per Share of Common Stock

The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. 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 January 31, 2019 and July 31, 2018, the Company has convertible notes with a total base principal of $276,500 and $206,000, respectively, which become convertible in 180 days. There is a potential for 17,489,366 shares if the principal of $276,500 were converted at January 31, 2019. These notes will have a dilutive effect on common stock. The Company has 10,000,000 shares of Mirage’s Series A Preferred Stock which possess 20 votes per share and are convertible into 200,000,000 common shares. As of January 31, 2019 there were 164,062 warrants issued and outstanding which are equal to 164,062 shares which have not been exercised.

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.

8

Financial Instruments

The Company’s notes that have become convertible are subject to ASC Topic 480, “Distinguishing Liabilities from Equity,” as the debt is a mostly fixed amount to be settled with a variable number of shares. 

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 $2,766,750 and had net cash used in operations of $78,656 for the six months ended January 31, 2019 and had an accumulated deficit and working capital deficit of $6,105,795 and $4,785,751 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

As of January 31, 2019, the number of shares of common stock that can be issued for convertible debt as per Note 9 - Subsequent Events was in default due to missing the 10-K filing deadline.

A summary of debt at January 31, 2019 and July 31, 2018 is as follows: 

	Jan. 31,		July 31,
	2019		2018
Notes payables related party, unsecured, interest bearing at 5% rate per annum, on demand	$	48,877	$	152,876
Note, unsecured interest bearing at 2% per annum, due July 9, 2020		50,000		50,000
Note, unsecured interest bearing at 7.5% per annum, due April 15, 2018. This was an accounts payable bill that was converted to a loan as per Note 7 - Commitments and Contingencies. This note is now in default as of April 16, 2018 and has a default interest of 17.5%.		77,844		77,844
Convertible debenture, unsecured, interest bearing at 12% per annum, issued January 5, 2018 in the amount of $75,000 with an original issue discount of $2,000 and cash proceeds of $73,000, convertible at July 4, 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 January 5, 2019. During September 2018, $25,000 of this debt was converted and the Company issued 3,223,726 shares of common stock with a fair value of $49,968 in payment leaving a principal balance of $30,000. This note defaulted in November 2018 and a default penalty of $144,000 was added to the note for a total of $219,000. The convertible note had a net change in fair value of $830,699.		1,029,437		104,706
Convertible debenture, unsecured, interest bearing at 12% per annum, issued February 26, 2018 in the amount of $43,000 with fees of $3,000 and cash proceeds of $40,000, convertible at August 25, 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 November 30, 2018. This note defaulted on March 25, 2018 and a default penalty of $21,500 was added to the note for a total of $64,500 and incurred default interest rate of 22%. During August and September 2018, $64,500 of this debt plus $2,580 in interest was converted and the Company issued 8,467,776 shares of common stock with a fair value of $167,534 in payment leaving no balance due. The convertible note had a net change in fair value principal of $103,034 and a net change in fair value accrued interest of $2,077.		-		64,500
Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $32,000 with fees of $2,000, cash proceeds of $28,200 and disbursement of $1,800, convertible at December 9, 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 March 30, 2019. As of January 31, 2019, there was a principal balance of $48,000. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $16,000 was added to the note for a total of $48,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $190,545.		238,545		32,000

10

Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $18,000 with fees of $0 and cash proceeds of $18,000 which was paid directly to the vendor, convertible at December 9, 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 March 30, 2019. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $9,000 was added to the note for a total of $27,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $107,182.	134,182	18,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, issued July 10, 2018 in the amount of $38,000 with fees of $3,000 and cash proceeds of $35,000, convertible at January 6, 2019 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 April 30, 2019. This note becomes convertible on January 6, 2019. This note defaulted on November 14, 2018 and a default penalty of $19,000 was added to the note for a total of $57,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $226,273.	283,273	38,000
Convertible debenture, unsecured, interest bearing at 12% per annum, issued August 6, 2018 in the amount of $35,000 with fees of $3,000, cash proceeds of $32,000, convertible at February 2, 2019 with conversion price at a discount rate of 49% 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 May 30, 2019. This note becomes convertible on February 2, 2019. This note defaulted on November 14, 2018 and a default penalty of $17,500 was added to the note for a total of $52,500 and incurred default interest rate of 22%.	52,500	-
Convertible debenture, unsecured, interest bearing at 12% per annum,, issued August 27, 2018 in the amount of $33,000 with fees of $3,000 and cash proceeds of $30,000, convertible at February 23, 2019 with conversion price at a discount rate of 49% 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 June 15, 2019. This note becomes convertible on February 23, 2019. This note defaulted on November 14, 2018 and a default penalty of $16,500 was added to the note for a total of $49,500 and incurred default interest rate of 22%.	49,500	-

11

Convertible debenture, unsecured, interest bearing at 12% per annum, issued September 20, 2018 in the amount of $33,000 with fees of $3,000 and cash proceeds of $30,000, convertible at March 19, 2019 with conversion price at a discount rate of 49% 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 July 15, 2019. This note becomes convertible on March 19, 2019. This note defaulted on November 14, 2018 and a default penalty of $16,500 was added to the note for a total of $49,500 and incurred default interest rate of 22%.		49,500		-
Convertible debenture, unsecured, interest bearing at 12% per annum, issued October 25, 2018 in the amount of $10,500 with fees of $500 and cash proceeds of $10,000 which was paid directly to the vendor, convertible at April 23, 2019 with conversion price at a discount rate of 49% 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 August 15, 2019. This note becomes convertible on April 23, 2019. This note defaulted on November 14, 2018 and a default penalty of $5,250 was added to the note for a total of $15,750 and incurred default interest rate of 22%.		15,750		-
Convertible debenture, unsecured, interest bearing at 10% per annum, issued November 13, 2018 in the aggregate principal amount of $105,000 and total cash proceeds of $90,000 to be funded in three (3) tranches. The principal sum due shall be prorated based on the consideration actually paid. For each tranche paid, the Company will have to provide 164,062 warrant shares for holder to purchase for a total of 492,186 warrants which are equal to 492,186 shares.  During the 2nd Quarter Ended January 31, 2019, the first tranche of $35,000 was received with fees of $5,000 and cash proceeds of $30,000. The Holder shall have the right at any time to convert all or any part of outstanding and unpaid principal amount. The conversion price is the lessor of lowest traded price and lowest closing bid price with a 45% discount during the previous twenty-five (25) trading day period ending on the last complete trading day prior to the conversion dates, maturity date for first tranche of November 13, 2019. This note defaulted on November 14, 2018 and a default penalty of $17,500 was added to the note for a total of $52,500 and incurred default interest rate of 15%. Also, an additional 25% discount for a total of 70% discount must be factored in the conversion price until this note is no longer outstanding. The Company has not received any notice of default and associated default penalties remain unassessed by Lender. The convertible note has a net change in fair value of $516,944.		569,444
Convertible debenture, unsecured, interest bearing at 12% per annum, issued December 28, 2018 in the amount of $12,000 with fees of $2,000 and cash proceeds of $10,000 which was paid directly to the vendor, convertible at June 26, 2019 with conversion price at a discount rate of 49% of market price which is the average of the lowest closed trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of October 30, 2019. This note becomes convertible on June 26, 2019. This note defaulted on November 14, 2018 and a default penalty of $6,000 was added to the note for a total of $18,000 and incurred default interest rate of 22%.		18,000		-
Loan payable related party, unsecured, non-interest bearing, on demand		20		2,229
Total Debt		2,616,872		540,155
Less: Current Maturities		2,566,872		490,155
Total Long-Term Debt	$	50,000	$	50,000

12

NOTE 5 - RELATED PARTY TRANSACTIONS

As of January 31, 2019, the CEO and two other members of management and one other employee had earned accrued unpaid salary in the amount of $1,614,000. Accrued salaries of $1,614,000 combined with accrued payroll taxes of $55,230 for a total accrued related party salaries and payroll tax of $1,669,230 for the period from June 2015 until January 31, 2019.

Also, Mr. Michael Ward, President was owed $2,229 at July 31, 2018 which has decreased to $20 as of January 31, 2019 resulting from additional expenses paid of $8,815 and repayments of $11,024 during the six months ended January 31, 2019

Additionally, White Boy Partnership, LLC, a company owned by the spouse of the CEO, had provided a total loan of $187,600. Repayments of $34,724 were made during the year ended July 31, 2018, which reduced the balance due to $152,876 as of July 31, 2018. Due to additional payments of $103,999 for the period ended January 31, 2019 the balance has decreased to a total loan amount of $48,877.

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 landlord is holding $6,921 as security and shall be returned at the end of the lease. 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 thirty-one (31) months of this thirty-six (36) month lease, no such additional charges have been made. The Company has incurred rent expense in the amount of $21,010 and $82,178 for the three month ended January 31, 2019 and the year ended July 31, 2108 respectively. Below is the schedule of base rent for the remaining Lease term as of January 31, 2019.

Year	Amount
2019	$	35,015
Total Remaining Base Rent	$	35,015

NOTE 7 - COMMITMENTS AND CONTINGENCIES

The Company committed to eighteen (18) months of Acquisition of Pipeline Rights of Way to Marcos y Asociados with a total amount of $77,844 which was due April 15, 2018 and not paid as of January 31, 2019. Interest will continue accruing after January 31, 2019 until it is paid.

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 – EQUITY

On August 28, 2018, Power Up Lending Group Ltd converted principal in the amount of $20,000 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 2,702,703 shares of common stock.

On August 31, 2018, Power Up Lending Group Ltd converted principal in the amount of $15,000 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 2,000,000 shares of common stock.

On September 5, 2018, Power Up Lending Group Ltd converted principal in the amount of $15,000 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 1,948,052 shares of common stock.

On September 10, 2018, Power Up Lending Group Ltd converted the remaining principal in the amount of $14,500 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 1,542,553 shares of common stock along with $2,580 of accrued interest for 274,468 shares of common stock.

13

On September 11, 2018, JSJ Investments, Inc. converted principal in the amount of $25,000 of the $75,000 note issued January 5, 2018 for 3,223,726 shares of common stock.

On January 7, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Robert Soer valued at $0.0250 per share for $20,000.

On January 9, 2019, the Company offered and sold One Million (1,000,000) shares of common stock to David Damerjian valued at $0.0250 per share for $25,000.

On January 14, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to David Damerjian valued at $0.0250 per share for $20,000.

On January 14, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Henry Lackner valued at $0.0250 per share for $20,000.

On January 15, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Christine Maly valued at $0.0250 per share for $20,000.

On January 18, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Henry Lackner valued at $0.0250 per share for $20,000.

NOTE 9 - SUBSEQUENT EVENTS

The Company evaluated events occurring subsequent to January 31, 2019, identifying those that are required to be disclosed as follows: 

On November 6, 2018, JSJ Investments Inc. (JSJ) attempted to convert the remaining principal in the amount of $30,000 of the $75,000 note issued January 5, 2018 for 3,896,103 shares of common stock along with interest of $6,148 of accrued interest for 798,435 shares of common stock but was rejected. The remaining note balance with interest was subsequently converted on February 12, 2019 for same 4,694,538 shares of common stock. On February 27, 2019, JSJ executed a conversion notice to convert $45,000 of $144,000 penalty that was tacked onto the original note for 2,727,272 shares of common stock.

On November 13, 2018, the Company entered into Securities Purchase Agreement with Crown Bridge Partners, LLC (Crown) to issue a convertible note in the aggregate principal amount of $105,000 to be funded in three (3) tranches, with unsecured, interest bearing at 10% per annum and a maturity date of November 13, 2019 for the first tranche in the amount of $35,000. Crown funded a second tranche of $35,000 which we received in February 2019 and in addition the Company will have to provide 164,062 warrant shares for holder to purchase.

In February 2019, the Company offered and sold 2,000,000 shares of common stock at $0.025 per share for $50,000 and 4,750,000 shares of common stock at $0.020 per share for $95,000.

In February 2019, Power Up Lending Group Ltd. converted the principal amount of the $32,000 note issued June 12, 2018 that was defaulted to $48,000 along with $1,920 of accrued interest for 3,081,482 shares of common stock.

In February 2019, Power Up Lending Group Ltd. converted the principal amount of the $38,000 note issued July 10, 2018 that was defaulted to $57,000 along with $2,280 of accrued interest for 3,207,302 shares of common stock.

In February 2019, Power Up Lending Group Ltd. converted the principal amount of the $35,000 note issued August 6, 2018 that was defaulted to $52,500 along with $2,100 of accrued interest for 3,689,190 shares of common stock.

In March 2019, the Company offered and sold 249,000 shares of common stock at $0.020 per share for $4,980.

In March 2019, Power Up Lending Group Ltd. converted the principal $49,500 of the $33,000 note issued August 27, 2018 that was defaulted to $49,500 along with $1,980 of accrued interest for 3,478,380 shares of common stock.

In March 2019, JSJ converted the remaining $99,000 of the $144,000 penalty on the $75,000 note issued January 5, 2018 that was defaulted for 6,545,454 shares of common stock.

On March 6, 2019, the Company exercised their right to prepay the full principal and accrued interest of the $33,000 note issued September 20, 2018. The total amount paid was $52,692.

On March 14, 2019, the Company entered into a Memorandum of Understanding (MOU) which is subject to the payment of a "good will deposit". The funds are due on, or before April 14, 2019. The MOU sets out the terms of the proposed funding and participation in the Concho/Progresso Pipeline and Natural Gas Storage Project. Under the MOU, Mirage proposes to sell 100% of its participation interest in the Project to Organizatiiton Mondiale De development (OMD), a French company, in exchange for its promise to fund the Project's cost. OMD will offer Mirage a five percent (5.0%) carried equity participation interest which will be characterized as Mirage's put option interest in the Project. The closing of the proposed transaction is subject to the execution of definitive documents. In the event the transaction fails to close due to Mirage's fault, Mirage will be required to refund the good will deposit. In the event the transaction fails to close due to OMD, Mirage will be entitled keep a portion of the deposit.

14

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 for the year ended July 31, 2018, as filed on December 24 , 2018. 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 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.

15

Discussion and Analysis of Financial Condition and Results of Operations

Revenues

Three month period ended January 31, 2019

For the three (3) month period ended January 31, 2019, we generated no revenue and incurred a net loss of $2,359,855.

Our net loss of $2,359,855 for the three (3) month period ended January 31, 2019 was the result of operating expenses of $237,391 and other expense (comprised of interest expense) of $2,122,464. Our operating expenses consisted of $222,004 in general and administrative expenses, and $15,387 in professional fees.

Three month period ended January 31, 2018

For the three (3) month period ended January 31, 2018, we generated no revenue and incurred a net loss of $436,468.

Our net loss of $436,468 for the three (3 month period ended January 31, 2018 was the result of operating expenses of $326,816 and other expense (comprised of interest expense) of $109,652. Our operating expenses consisted of $311,730 in general and administrative expenses, and $15,086 in professional fees.

Costs and Expenses

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

For the three (3) months ended January 31, 2019 and January 31, 2018, total general and administrative expenses were $222,004 and $311,730, respectively.

For the three (3) months ended January 31, 2019, we had $222,004 in general and administrative expenses compared to $311,730 in general and administrative expenses for the three (3) months ended January 31, 2018. The $89,726 decrease in general and administrative expenses was primarily the result of spending adjustments of salaries and wages and payroll taxes recorded during the three (3) months ended January 31, 2018 related to administrative expenses.

The professional fees for the three (3) months ending January 31, 2019 and January 31, 2018 were $15,387 and $15,086, respectively. The $301 increase was primarily related to increases in auditing fees, net of a reduction of legal fees.

The executive compensation for the three (3) months ending January 31, 2019 and January 31, 2018 was $125,250 and $116,500, respectively. No change was due to the same executives employed at the same compensation during both periods.

16

Liquidity and Capital Resources

Cash Flows

Operating Activities

For the six (6) month period ended January 31, 2019, net cash used in operating activities was $78,656. The negative cash flow for the six (6) months ended January 31, 2019 related to our net loss of $2,766,750, an increase in prepaid expenses of $289, an increase of $267,250 in convertible debt due to default, adjusted for $16,500 in financing fees, adjusted for depreciation of $790, a change of $1,976,755 in convertible debt due to fair market value, an increase of $167,876 in accounts payable, an increase of $2,580 in accrued expenses and an increase of $256,054 in accrued salaries and payroll taxes – related parties.

For the six (6) month period ended January 31, 2018, net cash used in operating activities was $107,485. The negative cash flow for the six (6) months ended January 31, 2018 related to our net loss of $699,970, an decrease in prepaid expenses of $219, an increase of $35,500 in convertible debt due to default, adjusted for $10,000 in financing fees, adjusted for depreciation of $790, a change of $65,164 in convertible debt due to fair market value, an increase of $42,500 in issuance of stock compensation for services and fees, an increase of $135,345 in accounts payable, an increase of $9,155 in accrued expenses and an increase of $294,250 in accrued salaries and payroll taxes – related parties.

Investing Activities

For the six (6) months ended January 31, 2019 net cash used in investing activities was nil.

For the six (6) months ended January 31, 2018 net cash used in investing activities was nil.

Financing Activities

For the six (6) months ended January 31, 2019, net cash provided from financing activities was $131,977. The positive cash flow from financing activities for such period was comprised of proceeds from sale of common stock, and proceeds from convertible debentures.

For the six (6) months ended January 31, 2018, net cash provided from financing activities was $136,717. The positive cash flow from financing activities for such period was comprised of a net increase in loans payable from related parties and proceeds from convertible debentures.

Liquidity

To date, we have funded our operations primarily with capital provided and loans provided by related parties, accruing of salaries and accounts payable. We do not currently have commitments in regards to fixed costs.

As of January 31, 2019, Mirage Energy Corporation had $66,801 in cash on hand and prepaid expenses of $2,017. 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, 2018 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.

17

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 year ended July 31, 2018, the Company has funded operations with debt of $279,000 from convertible notes and proceeds of $40,100 from related party loans while making loan repayments of $95,398. The Company plans to raise additional funds through various sources to support ongoing operations throughout fiscal year 2019.

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.

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 January 31, 2019, that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.

18

PART II-OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

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

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

In January 2019, the Company offered and sold 5,000,000 shares of restricted common stock at $0.025 per share for $125,000.

The Shares were not registered under the Securities Act of 1933, as amended (the “Securities Act”), and were in each case offered, sold and issued in reliance upon the exemption from registration provided by Section 4 (a) (2) of the Securities Act, as a transaction by an issuer not involving a public offering, and Rule 506 of Regulation D promulgated thereunder.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

The Company’s repeated failures to timely file its SEC reports have triggered defaults on our convertible promissory notes which will subject the Company to financial penalties. See Financial Statement Footnote 4.

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

19

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: March 27, 2019

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)

20

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: March 27, 2019

/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 January 31, 2019, 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: March 27, 2019

/s/ Michael Ward

Michael Ward

Chief Executive Officer

Principal Accounting Officer

XML

Document and Entity Information - shares	6 Months Ended
	Jan. 31, 2019	Mar. 22, 2019
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	Jan. 31, 2019
Entity Current Reporting Status	No
Amendment Flag	false
Trading Symbol	mrge
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		393,742,660
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false

XML

Consolidated Balance Sheets - USD ($)	Jan. 31, 2019	Jul. 31, 2018
Current Assets
Cash and cash equivalents	$ 66,801	$ 13,480
Prepaid expenses	2,017	2,306
Total Current Assets	68,818	15,786
Property, plant and equipment, net	3,821	4,611
Other Assets
Deposits	6,921	6,921
Total Other Assets	6,921	6,921
TOTAL ASSETS	79,560	27,318
Current Liabilities
Loans payable, related parties	48,897	155,105
Accounts payable and accrued liabilities	618,467	479,964
Loan payable	77,844	77,844
Convertible debentures	2,440,131	257,206
Accrued salaries and payroll taxes, related parties	1,669,230	1,413,176
Total Current Liabilities	4,854,569	2,383,295
Long-Term Liabilities
Loan payable	50,000	50,000
TOTAL LIABILITIES	4,904,569	2,433,295
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, par value $0.001, 10,000,000 shares authorized, 10,000,000 shares issued and outstanding as of January 31, 2019 and July 31, 2018	10,000	10,000
Common stock, par value $0.001, 900,000,000 shares authorized, 359,320,042 shares issued and outstanding as of January 31, 2019; 342,628,540 shares issued and outstanding as of July 31, 2018	359,320	342,628
Additional paid-in capital	911,566	580,540
Accumulated deficit	(6,105,795)	(3,339,045)
Accumulated other comprehensive loss	(100)	(100)
TOTAL STOCKHOLDERS' (DEFICIT)	(4,825,009)	(2,405,977)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT)	$ 79,560	$ 27,318

XML

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2019	Jul. 31, 2018
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	359,320,042	342,628,540
Common stock, shares outstanding	359,320,042	342,628,540
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		6 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
OPERATING EXPENSES
General and administrative expenses	$ 222,004	$ 311,730	$ 434,681	$ 539,612
Professional fees	15,387	15,086	54,690	45,568
Total Operating Expenses	237,391	326,816	489,371	585,180
LOSS BEFORE OPERATIONS	(237,391)	(326,816)	(489,371)	(585,180)
OTHER EXPENSES
Interest expense	2,122,464	109,652	2,277,379	114,790
Total Other Expense	2,122,464	109,652	2,277,379	114,790
LOSS BEFORE INCOME TAXES	(2,359,855)	(436,468)	(2,766,750)	(699,970)
NET LOSS	(2,359,855)	(436,468)	(2,766,750)	(699,970)
TOTAL COMPREHENSIVE LOSS	$ (2,359,855)	$ (436,468)	$ (2,766,750)	$ (699,970)
Basic and Diluted Loss per Common Share	$ (0.01)	$ (0.00)	$ (0.01)	$ (0.00)
Basic and Diluted Weighted Average Common Shares Outstanding	354,817,868	310,904,153	352,557,635	310,550,977

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jan. 31, 2019	Jan. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)	$ (2,766,750)	$ (699,970)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depreciation expense	790	790
Financing Fees	16,500	10,000
Loss on change in fair value of convertible debt	1,976,755	65,164
Penalty on convertible debt	267,250	35,500
Issuance of stock for services and fees		42,500
Changes in operating assets and liabilities
Prepaid expenses	289	(219)
Accounts payable	167,876	135,345
Accrued expenses	2,580	9,155
Accrued salaries and payroll taxes, related parties	256,054	294,250
Net cash (used) in operating activities	(78,656)	(107,485)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loan, related party		27,434
Repayments of loan, related party	(115,023)	(18,357)
Proceeds from sale of common stock	125,000
Proceeds from convertible debt	122,000	127,640
Net cash provided by financing activities	131,977	136,717
Net increase in cash	53,321	29,232
Cash and cash equivalents - beginning of period	13,480	11,776
Cash and cash equivalents - end of period	66,801	41,008
Supplemental Cash Flow Disclosures
Cash paid for interest	1,113	2,321
Cash paid for income taxes
Supplemental Non-Cash Activity Disclosures
Expenses paid by shareholder	8,815	4,173
Stock issued for convertible interest	5,215
Stock issued for convertible debt	217,503	88,988
Proceeds from sale of convertible debt paid directly to vendor	$ 20,000	$ 28,360

XML

ORGANIZATION AND DESCRIPTION OF BUSINESS

6 Months Ended

Jan. 31, 2019

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

6 Months Ended

Jan. 31, 2019

Notes to Financial Statements

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

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 December 24, 2018.

Net Loss Per Share of Common Stock

The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. 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 January 31, 2019 and July 31, 2018, the Company has convertible notes with a total base principal of $276,500 and $206,000, respectively, which become convertible in 180 days. There is a potential for 17,489,366 shares if the principal of $276,500 were converted at January 31, 2019. These notes will have a dilutive effect on common stock. The Company has 10,000,000 shares of Mirage’s Series A Preferred Stock which possess 20 votes per share and are convertible into 200,000,000 common shares. As of January 31, 2019 there were 164,062 warrants issued and outstanding which are equal to 164,062 shares which have not been exercised.

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.

Financial Instruments

The Company’s notes that have become convertible are subject to ASC Topic 480, “Distinguishing Liabilities from Equity,” as the debt is a mostly fixed amount to be settled with a variable number of shares. 

XML

GOING CONCERN

6 Months Ended

Jan. 31, 2019

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 $2,766,750 and had net cash used in operations of $78,656 for the six months ended January 31, 2019 and had an accumulated deficit and working capital deficit of $6,105,795 and $4,785,751 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

6 Months Ended

Jan. 31, 2019

Notes to Financial Statements

NOTE 4 - DEBT

As of January 31, 2019, the number of shares of common stock that can be issued for convertible debt as per Note 9 - Subsequent Events was in default due to missing the 10-K filing deadline.

A summary of debt at January 31, 2019 and July 31, 2018 is as follows: 

	Jan. 31,		July 31,
	2019		2018
Notes payables related party, unsecured, interest bearing at 5% rate per annum, on demand	$	48,877	$	152,876
Note, unsecured interest bearing at 2% per annum, due July 9, 2020		50,000		50,000
Note, unsecured interest bearing at 7.5% per annum, due April 15, 2018. This was an accounts payable bill that was converted to a loan as per Note 7 - Commitments and Contingencies. This note is now in default as of April 16, 2018 and has a default interest of 17.5%.		77,844		77,844
Convertible debenture, unsecured, interest bearing at 12% per annum, issued January 5, 2018 in the amount of $75,000 with an original issue discount of $2,000 and cash proceeds of $73,000, convertible at July 4, 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 January 5, 2019. During September 2018, $25,000 of this debt was converted and the Company issued 3,223,726 shares of common stock with a fair value of $49,968 in payment leaving a principal balance of $30,000. This note defaulted in November 2018 and a default penalty of $144,000 was added to the note for a total of $219,000. The convertible note had a net change in fair value of $830,699.		1,029,437		104,706
Convertible debenture, unsecured, interest bearing at 12% per annum, issued February 26, 2018 in the amount of $43,000 with fees of $3,000 and cash proceeds of $40,000, convertible at August 25, 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 November 30, 2018. This note defaulted on March 25, 2018 and a default penalty of $21,500 was added to the note for a total of $64,500 and incurred default interest rate of 22%. During August and September 2018, $64,500 of this debt plus $2,580 in interest was converted and the Company issued 8,467,776 shares of common stock with a fair value of $167,534 in payment leaving no balance due. The convertible note had a net change in fair value principal of $103,034 and a net change in fair value accrued interest of $2,077.		-		64,500
Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $32,000 with fees of $2,000, cash proceeds of $28,200 and disbursement of $1,800, convertible at December 9, 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 March 30, 2019. As of January 31, 2019, there was a principal balance of $48,000. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $16,000 was added to the note for a total of $48,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $190,545.		238,545		32,000

Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $18,000 with fees of $0 and cash proceeds of $18,000 which was paid directly to the vendor, convertible at December 9, 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 March 30, 2019. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $9,000 was added to the note for a total of $27,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $107,182.	134,182	18,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, issued July 10, 2018 in the amount of $38,000 with fees of $3,000 and cash proceeds of $35,000, convertible at January 6, 2019 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 April 30, 2019. This note becomes convertible on January 6, 2019. This note defaulted on November 14, 2018 and a default penalty of $19,000 was added to the note for a total of $57,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $226,273.	283,273	38,000
Convertible debenture, unsecured, interest bearing at 12% per annum, issued August 6, 2018 in the amount of $35,000 with fees of $3,000, cash proceeds of $32,000, convertible at February 2, 2019 with conversion price at a discount rate of 49% 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 May 30, 2019. This note becomes convertible on February 2, 2019. This note defaulted on November 14, 2018 and a default penalty of $17,500 was added to the note for a total of $52,500 and incurred default interest rate of 22%.	52,500	-
Convertible debenture, unsecured, interest bearing at 12% per annum,, issued August 27, 2018 in the amount of $33,000 with fees of $3,000 and cash proceeds of $30,000, convertible at February 23, 2019 with conversion price at a discount rate of 49% 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 June 15, 2019. This note becomes convertible on February 23, 2019. This note defaulted on November 14, 2018 and a default penalty of $16,500 was added to the note for a total of $49,500 and incurred default interest rate of 22%.	49,500	-

Convertible debenture, unsecured, interest bearing at 12% per annum, issued September 20, 2018 in the amount of $33,000 with fees of $3,000 and cash proceeds of $30,000, convertible at March 19, 2019 with conversion price at a discount rate of 49% 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 July 15, 2019. This note becomes convertible on March 19, 2019. This note defaulted on November 14, 2018 and a default penalty of $16,500 was added to the note for a total of $49,500 and incurred default interest rate of 22%.		49,500		-
Convertible debenture, unsecured, interest bearing at 12% per annum, issued October 25, 2018 in the amount of $10,500 with fees of $500 and cash proceeds of $10,000 which was paid directly to the vendor, convertible at April 23, 2019 with conversion price at a discount rate of 49% 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 August 15, 2019. This note becomes convertible on April 23, 2019. This note defaulted on November 14, 2018 and a default penalty of $5,250 was added to the note for a total of $15,750 and incurred default interest rate of 22%.		15,750		-
Convertible debenture, unsecured, interest bearing at 10% per annum, issued November 13, 2018 in the aggregate principal amount of $105,000 and total cash proceeds of $90,000 to be funded in three (3) tranches. The principal sum due shall be prorated based on the consideration actually paid. For each tranche paid, the Company will have to provide 164,062 warrant shares for holder to purchase for a total of 492,186 warrants which are equal to 492,186 shares.  During the 2nd Quarter Ended January 31, 2019, the first tranche of $35,000 was received with fees of $5,000 and cash proceeds of $30,000. The Holder shall have the right at any time to convert all or any part of outstanding and unpaid principal amount. The conversion price is the lessor of lowest traded price and lowest closing bid price with a 45% discount during the previous twenty-five (25) trading day period ending on the last complete trading day prior to the conversion dates, maturity date for first tranche of November 13, 2019. This note defaulted on November 14, 2018 and a default penalty of $17,500 was added to the note for a total of $52,500 and incurred default interest rate of 15%. Also, an additional 25% discount for a total of 70% discount must be factored in the conversion price until this note is no longer outstanding. The Company has not received any notice of default and associated default penalties remain unassessed by Lender. The convertible note has a net change in fair value of $516,944.		569,444
Convertible debenture, unsecured, interest bearing at 12% per annum, issued December 28, 2018 in the amount of $12,000 with fees of $2,000 and cash proceeds of $10,000 which was paid directly to the vendor, convertible at June 26, 2019 with conversion price at a discount rate of 49% of market price which is the average of the lowest closed trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of October 30, 2019. This note becomes convertible on June 26, 2019. This note defaulted on November 14, 2018 and a default penalty of $6,000 was added to the note for a total of $18,000 and incurred default interest rate of 22%.		18,000		-
Loan payable related party, unsecured, non-interest bearing, on demand		20		2,229
Total Debt		2,616,872		540,155
Less: Current Maturities		2,566,872		490,155
Total Long-Term Debt	$	50,000	$	50,000

XML

RELATED PARTY TRANSACTIONS

6 Months Ended

Jan. 31, 2019

Notes to Financial Statements

NOTE 5 - RELATED PARTY TRANSACTIONS

As of January 31, 2019, the CEO and two other members of management and one other employee had earned accrued unpaid salary in the amount of $1,614,000. Accrued salaries of $1,614,000 combined with accrued payroll taxes of $55,230 for a total accrued related party salaries and payroll tax of $1,669,230 for the period from June 2015 until January 31, 2019.

Also, Mr. Michael Ward, President was owed $2,229 at July 31, 2018 which has decreased to $20 as of January 31, 2019 resulting from additional expenses paid of $8,815 and repayments of $11,024 during the six months ended January 31, 2019

Additionally, White Boy Partnership, LLC, a company owned by the spouse of the CEO, had provided a total loan of $187,600. Repayments of $34,724 were made during the year ended July 31, 2018, which reduced the balance due to $152,876 as of July 31, 2018. Due to additional payments of $103,999 for the period ended January 31, 2019 the balance has decreased to a total loan amount of $48,877.

XML

LEASES

6 Months Ended

Jan. 31, 2019

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 landlord is holding $6,921 as security and shall be returned at the end of the lease. 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 thirty-one (31) months of this thirty-six (36) month lease, no such additional charges have been made. The Company has incurred rent expense in the amount of $21,010 and $82,178 for the three month ended January 31, 2019 and the year ended July 31, 2108 respectively. Below is the schedule of base rent for the remaining Lease term as of January 31, 2019.

Year	Amount
2019	$	35,015
Total Remaining Base Rent	$	35,015

XML

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jan. 31, 2019

Notes to Financial Statements

NOTE 7 - COMMITMENTS AND CONTINGENCIES

The Company committed to eighteen (18) months of Acquisition of Pipeline Rights of Way to Marcos y Asociados with a total amount of $77,844 which was due April 15, 2018 and not paid as of January 31, 2019. Interest will continue accruing after January 31, 2019 until it is paid.

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

EQUITY

6 Months Ended

Jan. 31, 2019

Notes to Financial Statements

Note 8 - EQUITY

On August 28, 2018, Power Up Lending Group Ltd converted principal in the amount of $20,000 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 2,702,703 shares of common stock.

On August 31, 2018, Power Up Lending Group Ltd converted principal in the amount of $15,000 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 2,000,000 shares of common stock.

On September 5, 2018, Power Up Lending Group Ltd converted principal in the amount of $15,000 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 1,948,052 shares of common stock.

On September 10, 2018, Power Up Lending Group Ltd converted the remaining principal in the amount of $14,500 of the $43,000 note issued February 26, 2018 that was defaulted to $64,500 for 1,542,553 shares of common stock along with $2,580 of accrued interest for 274,468 shares of common stock.

On September 11, 2018, JSJ Investments, Inc. converted principal in the amount of $25,000 of the $75,000 note issued January 5, 2018 for 3,223,726 shares of common stock.

On January 7, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Robert Soer valued at $0.0250 per share for $20,000.

On January 9, 2019, the Company offered and sold One Million (1,000,000) shares of common stock to David Damerjian valued at $0.0250 per share for $25,000.

On January 14, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to David Damerjian valued at $0.0250 per share for $20,000.

On January 14, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Henry Lackner valued at $0.0250 per share for $20,000.

On January 15, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Christine Maly valued at $0.0250 per share for $20,000.

On January 18, 2019, the Company offered and sold Eight Hundred Thousand (800,000) shares of common stock to Henry Lackner valued at $0.0250 per share for $20,000.

XML

SUBSEQUENT EVENTS

6 Months Ended

Jan. 31, 2019

Notes to Financial Statements

NOTE 9 - SUBSEQUENT EVENTS

The Company evaluated events occurring subsequent to January 31, 2019, identifying those that are required to be disclosed as follows: 

On November 6, 2018, JSJ Investments Inc. (JSJ) attempted to convert the remaining principal in the amount of $30,000 of the $75,000 note issued January 5, 2018 for 3,896,103 shares of common stock along with interest of $6,148 of accrued interest for 798,435 shares of common stock but was rejected. The remaining note balance with interest was subsequently converted on February 12, 2019 for same 4,694,538 shares of common stock. On February 27, 2019, JSJ executed a conversion notice to convert $45,000 of $144,000 penalty that was tacked onto the original note for 2,727,272 shares of common stock.

On November 13, 2018, the Company entered into Securities Purchase Agreement with Crown Bridge Partners, LLC (Crown) to issue a convertible note in the aggregate principal amount of $105,000 to be funded in three (3) tranches, with unsecured, interest bearing at 10% per annum and a maturity date of November 13, 2019 for the first tranche in the amount of $35,000. Crown funded a second tranche of $35,000 which we received in February 2019 and in addition the Company will have to provide 164,062 warrant shares for holder to purchase.

In February 2019, the Company offered and sold 2,000,000 shares of common stock at $0.025 per share for $50,000 and 4,750,000 shares of common stock at $0.020 per share for $95,000.

In February 2019, Power Up Lending Group Ltd. converted the principal amount of the $32,000 note issued June 12, 2018 that was defaulted to $48,000 along with $1,920 of accrued interest for 3,081,482 shares of common stock.

In February 2019, Power Up Lending Group Ltd. converted the principal amount of the $38,000 note issued July 10, 2018 that was defaulted to $57,000 along with $2,280 of accrued interest for 3,207,302 shares of common stock.

In February 2019, Power Up Lending Group Ltd. converted the principal amount of the $35,000 note issued August 6, 2018 that was defaulted to $52,500 along with $2,100 of accrued interest for 3,689,190 shares of common stock.

In March 2019, the Company offered and sold 249,000 shares of common stock at $0.020 per share for $4,980.

In March 2019, Power Up Lending Group Ltd. converted the principal $49,500 of the $33,000 note issued August 27, 2018 that was defaulted to $49,500 along with $1,980 of accrued interest for 3,478,380 shares of common stock.

In March 2019, JSJ converted the remaining $99,000 of the $144,000 penalty on the $75,000 note issued January 5, 2018 that was defaulted for 6,545,454 shares of common stock.

On March 6, 2019, the Company exercised their right to prepay the full principal and accrued interest of the $33,000 note issued September 20, 2018. The total amount paid was $52,692.

On March 14, 2019, the Company entered into a Memorandum of Understanding (MOU) which is subject to the payment of a "good will deposit". The funds are due on, or before April 14, 2019. The MOU sets out the terms of the proposed funding and participation in the Concho/Progresso Pipeline and Natural Gas Storage Project. Under the MOU, Mirage proposes to sell 100% of its participation interest in the Project to Organizatiiton Mondiale De development (OMD), a French company, in exchange for its promise to fund the Project's cost. OMD will offer Mirage a five percent (5.0%) carried equity participation interest which will be characterized as Mirage's put option interest in the Project. The closing of the proposed transaction is subject to the execution of definitive documents. In the event the transaction fails to close due to Mirage's fault, Mirage will be required to refund the good will deposit. In the event the transaction fails to close due to OMD, Mirage will be entitled keep a portion of the deposit.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jan. 31, 2019

Summary Of Significant Accounting Policies

Basis of Presentation

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 December 24, 2018.

Net Loss Per Share of Common Stock

The Company has adopted ASC Topic 260, “Earnings per Share,” (“EPS”) which requires presentation of basic EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. 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 January 31, 2019 and July 31, 2018, the Company has convertible notes with a total base principal of $276,500 and $206,000, respectively, which become convertible in 180 days. There is a potential for 17,489,366 shares if the principal of $276,500 were converted at January 31, 2019. These notes will have a dilutive effect on common stock. The Company has 10,000,000 shares of Mirage’s Series A Preferred Stock which possess 20 votes per share and are convertible into 200,000,000 common shares. As of January 31, 2019 there were 164,062 warrants issued and outstanding which are equal to 164,062 shares which have not been exercised.

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.

Financial Instruments

The Company’s notes that have become convertible are subject to ASC Topic 480, “Distinguishing Liabilities from Equity,” as the debt is a mostly fixed amount to be settled with a variable number of shares. 

XML

DEBT (Tables)

6 Months Ended

Jan. 31, 2019

Debt

Schedule of debt

A summary of debt at January 31, 2019 and July 31, 2018 is as follows: 

	Jan. 31,		July 31,
	2019		2018
Notes payables related party, unsecured, interest bearing at 5% rate per annum, on demand	$	48,877	$	152,876
Note, unsecured interest bearing at 2% per annum, due July 9, 2020		50,000		50,000
Note, unsecured interest bearing at 7.5% per annum, due April 15, 2018. This was an accounts payable bill that was converted to a loan as per Note 7 - Commitments and Contingencies. This note is now in default as of April 16, 2018 and has a default interest of 17.5%.		77,844		77,844
Convertible debenture, unsecured, interest bearing at 12% per annum, issued January 5, 2018 in the amount of $75,000 with an original issue discount of $2,000 and cash proceeds of $73,000, convertible at July 4, 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 January 5, 2019. During September 2018, $25,000 of this debt was converted and the Company issued 3,223,726 shares of common stock with a fair value of $49,968 in payment leaving a principal balance of $30,000. This note defaulted in November 2018 and a default penalty of $144,000 was added to the note for a total of $219,000. The convertible note had a net change in fair value of $830,699.		1,029,437		104,706
Convertible debenture, unsecured, interest bearing at 12% per annum, issued February 26, 2018 in the amount of $43,000 with fees of $3,000 and cash proceeds of $40,000, convertible at August 25, 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 November 30, 2018. This note defaulted on March 25, 2018 and a default penalty of $21,500 was added to the note for a total of $64,500 and incurred default interest rate of 22%. During August and September 2018, $64,500 of this debt plus $2,580 in interest was converted and the Company issued 8,467,776 shares of common stock with a fair value of $167,534 in payment leaving no balance due. The convertible note had a net change in fair value principal of $103,034 and a net change in fair value accrued interest of $2,077.		-		64,500
Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $32,000 with fees of $2,000, cash proceeds of $28,200 and disbursement of $1,800, convertible at December 9, 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 March 30, 2019. As of January 31, 2019, there was a principal balance of $48,000. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $16,000 was added to the note for a total of $48,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $190,545.		238,545		32,000

Convertible debenture, unsecured, interest bearing at 12% per annum, issued June 12, 2018 in the amount of $18,000 with fees of $0 and cash proceeds of $18,000 which was paid directly to the vendor, convertible at December 9, 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 March 30, 2019. This note became convertible on December 9, 2018. This note defaulted on November 14, 2018 and a default penalty of $9,000 was added to the note for a total of $27,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $107,182.	134,182	18,000
Convertible debenture, unsecured, interest bearing at 12% per annum,, issued July 10, 2018 in the amount of $38,000 with fees of $3,000 and cash proceeds of $35,000, convertible at January 6, 2019 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 April 30, 2019. This note becomes convertible on January 6, 2019. This note defaulted on November 14, 2018 and a default penalty of $19,000 was added to the note for a total of $57,000 and incurred default interest rate of 22%. The convertible note had a net change in fair value of $226,273.	283,273	38,000
Convertible debenture, unsecured, interest bearing at 12% per annum, issued August 6, 2018 in the amount of $35,000 with fees of $3,000, cash proceeds of $32,000, convertible at February 2, 2019 with conversion price at a discount rate of 49% 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 May 30, 2019. This note becomes convertible on February 2, 2019. This note defaulted on November 14, 2018 and a default penalty of $17,500 was added to the note for a total of $52,500 and incurred default interest rate of 22%.	52,500	-
Convertible debenture, unsecured, interest bearing at 12% per annum,, issued August 27, 2018 in the amount of $33,000 with fees of $3,000 and cash proceeds of $30,000, convertible at February 23, 2019 with conversion price at a discount rate of 49% 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 June 15, 2019. This note becomes convertible on February 23, 2019. This note defaulted on November 14, 2018 and a default penalty of $16,500 was added to the note for a total of $49,500 and incurred default interest rate of 22%.	49,500	-

Convertible debenture, unsecured, interest bearing at 12% per annum, issued September 20, 2018 in the amount of $33,000 with fees of $3,000 and cash proceeds of $30,000, convertible at March 19, 2019 with conversion price at a discount rate of 49% 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 July 15, 2019. This note becomes convertible on March 19, 2019. This note defaulted on November 14, 2018 and a default penalty of $16,500 was added to the note for a total of $49,500 and incurred default interest rate of 22%.		49,500		-
Convertible debenture, unsecured, interest bearing at 12% per annum, issued October 25, 2018 in the amount of $10,500 with fees of $500 and cash proceeds of $10,000 which was paid directly to the vendor, convertible at April 23, 2019 with conversion price at a discount rate of 49% 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 August 15, 2019. This note becomes convertible on April 23, 2019. This note defaulted on November 14, 2018 and a default penalty of $5,250 was added to the note for a total of $15,750 and incurred default interest rate of 22%.		15,750		-
Convertible debenture, unsecured, interest bearing at 10% per annum, issued November 13, 2018 in the aggregate principal amount of $105,000 and total cash proceeds of $90,000 to be funded in three (3) tranches. The principal sum due shall be prorated based on the consideration actually paid. For each tranche paid, the Company will have to provide 164,062 warrant shares for holder to purchase for a total of 492,186 warrants which are equal to 492,186 shares.  During the 2nd Quarter Ended January 31, 2019, the first tranche of $35,000 was received with fees of $5,000 and cash proceeds of $30,000. The Holder shall have the right at any time to convert all or any part of outstanding and unpaid principal amount. The conversion price is the lessor of lowest traded price and lowest closing bid price with a 45% discount during the previous twenty-five (25) trading day period ending on the last complete trading day prior to the conversion dates, maturity date for first tranche of November 13, 2019. This note defaulted on November 14, 2018 and a default penalty of $17,500 was added to the note for a total of $52,500 and incurred default interest rate of 15%. Also, an additional 25% discount for a total of 70% discount must be factored in the conversion price until this note is no longer outstanding. The Company has not received any notice of default and associated default penalties remain unassessed by Lender. The convertible note has a net change in fair value of $516,944.		569,444
Convertible debenture, unsecured, interest bearing at 12% per annum, issued December 28, 2018 in the amount of $12,000 with fees of $2,000 and cash proceeds of $10,000 which was paid directly to the vendor, convertible at June 26, 2019 with conversion price at a discount rate of 49% of market price which is the average of the lowest closed trading price during the twenty trading day period ending on the latest complete trading day prior to the conversion date, maturity date of October 30, 2019. This note becomes convertible on June 26, 2019. This note defaulted on November 14, 2018 and a default penalty of $6,000 was added to the note for a total of $18,000 and incurred default interest rate of 22%.		18,000		-
Loan payable related party, unsecured, non-interest bearing, on demand		20		2,229
Total Debt		2,616,872		540,155
Less: Current Maturities		2,566,872		490,155
Total Long-Term Debt	$	50,000	$	50,000

XML

LEASES (Tables)

6 Months Ended

Jan. 31, 2019

Leases

Schedule of rent for remaining lease term

Year	Amount
2019	$	35,015
Total Remaining Base Rent	$	35,015

XML

ORGANIZATION AND DESCRIPTION OF BUSINESS (Detail Narrative)	6 Months Ended
	Jan. 31, 2019
Organization And Description Of Business
Date of incorporation	May 06, 2014
State of incorporation	Nevada

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Narrative) - USD ($)	6 Months Ended
	Jan. 31, 2019	Jul. 31, 2018
Convertible note	$ 276,500	$ 206,000
Convertible note, maturity Period	180 days
Potential securities excluded from computation of earnings per share, amount	17,489,366
Warrants issued	164,062
Warrants outstanding	164,062
Series A Preferred Stock [Member]
Stock issued during period	10,000,000
Shares issuable upon conversion	200,000,000
Voting rights	20 votes per share

XML

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2018
Going Concern
Net loss	$ (2,359,855)	$ (436,468)	$ (2,766,750)	$ (699,970)
Net cash used in operations			(78,656)	$ (107,485)
Accumulated deficit	(6,105,795)		(6,105,795)		$ (3,339,045)
Working capital deficit	$ (4,785,751)		$ (4,785,751)

XML

DEBT (Details) - USD ($)	Jan. 31, 2019	Jul. 31, 2018
Loan payable related party, unsecured, non-interest bearing, on demand	$ 20	$ 2,229
Total Debt	2,616,872	540,155
Less: Current Maturities	2,566,872	490,155
Total Long-Term Debt	50,000	50,000
Notes Payable [Member]
Total Debt	48,877	152,876
Notes Payable 1 [Member]
Total Debt	50,000	50,000
Notes Payable 2 [Member]
Total Debt	77,844	77,844
Convertible Debt [Member]
Total Debt	1,029,437	104,706
Convertible Debt 1 [Member]
Total Debt		64,500
Convertible Debt 2 [Member]
Total Debt	238,545	32,000
Convertible Debt 3 [Member]
Total Debt	134,182	18,000
Convertible Debt 4 [Member]
Total Debt	283,273	38,000
Convertible Debt 5 [Member]
Total Debt	52,500
Convertible Debt 6 [Member]
Total Debt	49,500
Convertible Debt 7 [Member]
Total Debt	49,500
Convertible Debt 8 [Member]
Total Debt	15,750
Convertible Debt 9 [Member]
Total Debt	569,444
Convertible Debt 10 [Member]
Total Debt	$ 18,000

XML

RELATED PARTY TRANSACTIONS (Detail Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2018
Accrued payroll taxes	$ 55,230
Accrued salaries and payroll taxes, related parties	1,669,230		$ 1,413,176
Expenses paid by shareholder	8,815	$ 4,173
Loan payable related party, unsecured, non-interest bearing, on demand	20		2,229
CEO And Two Other [Member]
Accrued unpaid salaries	1,614,000
Mr. Michael Ward [Member]
Repayments of related parties	11,024
Expenses paid by shareholder	8,815
Loan payable related party, unsecured, non-interest bearing, on demand	20		2,229
Spouse Of CEO [Member]
Repayments of related parties	103,999		34,724
Proceeds from loan			187,600
Total due to related parties	$ 48,877		$ 152,876

XML

LEASES (Details)	Jan. 31, 2019 USD ($)
Leases Details Abstract
2019	$ 35,015
Total Remaining Base Rent	$ 35,015

XML

LEASES (Details Narrative) - USD ($)	6 Months Ended	12 Months Ended
	Jan. 31, 2019	Jul. 31, 2018
Leases Details Narrative Abstract
Lease agreement description	The Lease Period is for three (3) years beginning July 1, 2016. The landlord is holding $6,921 as security and shall be returned at the end of the lease. 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 thirty-one (31) months of this thirty-six (36) month lease, no such additional charges have been made.
Rent expense	$ 21,010	$ 82,178

XML

COMMITMENTS AND CONTINGENCIES (Details Narrative) - Marcos Y Asociados [Member]	6 Months Ended
	Jan. 31, 2019 USD ($)
Acquisition description	The Company committed to eighteen (18) months of Acquisition of Pipeline Rights of Way to Marcos y Asociados with a total amount of $77,844 which was due April 15, 2018 and not paid as of January 31, 2019.
Commitment and contingencies acquisition amount	$ 77,844

XML

EQUITY (Details Narrative) - USD ($)								1 Months Ended
	Jan. 15, 2019	Jan. 14, 2019	Jan. 09, 2019	Jan. 07, 2019	Sep. 11, 2018	Sep. 10, 2018	Sep. 05, 2018	Jan. 18, 2019	Aug. 31, 2018	Aug. 28, 2018	Jan. 31, 2019	Jul. 31, 2018
Convertible debt											$ 2,440,131	$ 257,206
PowerUp Lending Group Ltd [Member]
Convertible debt, converted amount						$ 14,500	$ 15,000		$ 15,000	$ 20,000
Convertible debt						43,000	43,000		43,000	43,000
Debt default						$ 64,500	$ 64,500		$ 64,500	$ 64,500
Debt conversion converted instrument, shares issued						1,542,553	1,948,052		2,000,000	2,702,703
Debt issuance date						Feb. 26, 2018	Feb. 26, 2018		Feb. 26, 2018	Feb. 26, 2018
Accrued interest						$ 2,580
Common stock shares issued, shares						274,468
Henry Lackner [Member]
Common stock shares issued, shares		800,000						800,000
Common stock shares issued, value		$ 20,000						$ 20,000
Common stock shares issued, per share		$ 0.0250						$ 0.0250
Christine Maly [Member]
Common stock shares issued, shares	800,000
Common stock shares issued, value	$ 20,000
Common stock shares issued, per share	$ 0.0250
David Damerjian [Member]
Common stock shares issued, shares		800,000	1,000,000
Common stock shares issued, value		$ 20,000	$ 25,000
Common stock shares issued, per share		$ 0.0250	$ 0.0250
Robert Soer [Member]
Common stock shares issued, shares				800,000
Common stock shares issued, value				$ 20,000
Common stock shares issued, per share				$ 0.0250
JSJ Investment [Member]
Convertible debt, converted amount					$ 25,000
Convertible debt					$ 75,000
Debt conversion converted instrument, shares issued					3,223,726
Debt issuance date					Jan. 05, 2018

XML

SUBSEQUENT EVENTS (Details Narrative) - USD ($)							1 Months Ended			6 Months Ended
	Mar. 14, 2019	Mar. 06, 2019	Feb. 12, 2019	Nov. 13, 2018	Nov. 06, 2018	Sep. 11, 2018	Mar. 31, 2019	Feb. 28, 2019	Feb. 27, 2019	Jan. 31, 2019	Jan. 31, 2018	Jul. 31, 2018
Convertible debt										$ 2,440,131		$ 257,206
Penalty on convertible debt										$ 267,250	$ 35,500
JSJ Investment [Member]
Convertible debt, converted amount						$ 25,000
Convertible debt						$ 75,000
Debt issuance date						Jan. 05, 2018
Debt conversion converted instrument, shares issued						3,223,726
Subsequent Event [Member]
Convertible debt		$ 52,692
Debt issuance date		Sep. 20, 2018
Principal and accrued interest		$ 33,000
Common stock shares issued, shares							249,000
Common stock shares issued, value							$ 4,980
Common stock shares issued, per share							$ 0.020
Subsequent Event [Member] | Common Stock Two [Member]
Common stock shares issued, shares								4,750,000
Common stock shares issued, value								$ 95,000
Common stock shares issued, per share								$ 0.020
Subsequent Event [Member] | Common Stock One [Member]
Common stock shares issued, shares								2,000,000
Common stock shares issued, value								$ 50,000
Common stock shares issued, per share								$ 0.025
Subsequent Event [Member] | Organizatiiton Mondiale De Development [Member]
Terms of MOU for the participation interest description	Under the MOU, Mirage proposes to sell 100% of its participation interest in the Project to Organizatiiton Mondiale De development (OMD), a French company, in exchange for its promise to fund the Project's cost. OMD will offer Mirage a five percent (5.0%) carried equity participation interest which will be characterized as Mirage's put option interest in the Project.
Subsequent Event [Member] | Crown Bridge Partners, LLC [Member] | Securities Purchase Agreement [Member]
Convertible debt, converted amount				$ 105,000
Maturity date				Nov. 13, 2019
Interest Rate				10.00%
Purchase of warrants				164,062
Subsequent Event [Member] | Crown Bridge Partners, LLC [Member] | Securities Purchase Agreement [Member] | First Tranche [Member]
Convertible debt installment				$ 35,000
Subsequent Event [Member] | Crown Bridge Partners, LLC [Member] | Securities Purchase Agreement [Member] | Second Tranche [Member]
Convertible debt installment								$ 35,000
Subsequent Event [Member] | JSJ Investment [Member]
Convertible debt, converted amount					$ 30,000		$ 99,000		$ 45,000
Convertible debt					75,000		75,000
Penalty on convertible debt							$ 144,000		$ 144,000
Accrued interest in default					$ 6,148
Debt issuance date					Jan. 05, 2018		Jan. 05, 2018
Debt conversion converted instrument, shares issued			4,694,538		3,896,103		6,545,454		2,727,272
Common stock shares unissued					798,435
Subsequent Event [Member] | PowerUp Lending Group Ltd Three [Member]
Convertible debt, converted amount							$ 49,500	35,000
Convertible debt							33,000
Debt default							49,500	52,500
Accrued interest in default							$ 1,980	$ 2,100
Debt issuance date							Aug. 27, 2018	Aug. 06, 2018
Debt conversion converted instrument, shares issued							3,478,380	3,689,190
Subsequent Event [Member] | PowerUp Lending Group Ltd Two [Member]
Convertible debt, converted amount								$ 38,000
Debt default								57,000
Accrued interest in default								$ 2,280
Debt issuance date								Jul. 10, 2018
Debt conversion converted instrument, shares issued								3,207,302
Subsequent Event [Member] | PowerUp Lending Group Ltd One [Member]
Convertible debt, converted amount								$ 32,000
Debt default								48,000
Accrued interest in default								$ 1,920
Debt issuance date								Jun. 12, 2018
Debt conversion converted instrument, shares issued								3,081,482