Black Hawk Exploration (fka BHWX)

[Slojab]

Well, a two man show actually. ( :

But other than that they have no employees.

And precious little other than that. Too bad they didn't say how much the 1120 acres was "purchased" for. Given that they only had $150,000 cash for the purpose, it can't hold much promise.

This is SUGO all over again!

Six Months Ended February 28, 2009


During the six months ended February 28, 2009, operating expenses totaled $13,850, and we experienced a net loss of $13,850 against no revenues. During the six months ended February 29, 2008, operating expenses totaled $42,322, and we experienced a net loss of $42,322 against no revenues. From inception to February 28, 2009, our operating expenses total $643,071 and we experienced a net loss of $643,071 against no revenues.

Financial Condition, Liquidity and Capital Resources


At February 28, 2009, there was a working capital of $8,229.


At February 28, 2009, our total assets were $24,423, which consisted of cash of $19,423 and prepaid expense of $5,000.


At February 28, 2009, our total current liabilities were $11,194.

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At February 28, 2009, we had cash on hand of $19,423.


Historically, we have financed our cash flow and operations from the sale of stock and advances from shareholders. Our total cash and cash equivalent position as at February 28, 2009 was $19,423


For the three months ended February 28, 2009, net cash used in operating activities was $8,340 which consisted of a net loss of $8,340.


Net cash provided by financing activities was $474,300 from inception to February 28, 2009.


We have no external sources of liquidity in the form of credit lines from banks. Based on the plan of operation described below, management believes that our available cash will be sufficient to fund our immediate working capital requirements.


Plan of Operation


Cash Requirements


Over the twelve months ending February 28, 2010 we plan to expend a total of approximately $150,000 in respect of future mineral property acquisitions.


Based on our current plan of operations, we require immediate funds to commence our exploration operations. We currently have cash on hand of $19,423. We anticipate that we will have to raise additional cash of approximately $130,000 to allow us to complete our proposed exploration program. We will likely require additional financing before we generate any significant revenues. We intend to raise the capital required to meet any additional needs through sales of our securities in secondary offerings or private placements. We have no agreements in place to do this at this time. If we fail to raise sufficient funds, we may modify our operations plan accordingly. Even if we do raise funds for operations, there is no assurance that we will be able to maintain operations at a level sufficient for an investor to obtain a return on his investment in our common stock. Further, we may continue to be unprofitable.