NOTES TO CONDENSED FINANCIAL STATEMENTS
January 31, 2020
(Unaudited)
NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS
Black Rock Petroleum Company, (“Black
Rock” or “The Company”) located at 1361 Peltier Drive, Point Roberts WA, 98281, was formed on April 24, 2013
under the laws of the State of Nevada. We have not commenced our planned operations. The Company’s fiscal year end
is April 30.
We have not generated any operating revenues to date.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES
Basis of presentation
The Company’s unaudited condensed
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America
(“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only
normal recurring items, which, in the opinion of management, are necessary for a fair presentation of the results of operations
for the periods shown and are not necessarily indicative of the results to be expected for the full year ending April 30, 2020.
These unaudited condensed financial statements should be read in conjunction with the financial statements and related notes included
in the Company’s Annual Report on Form 10-K for the year ended April 30, 2019.
Use of estimates
The preparation of financial statements
in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
Recently issued accounting pronouncements
The Company has implemented all new accounting
pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise
disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might
have a material impact on its financial position or results of operations.
NOTE 3 – GOING CONCERN
As reflected in the accompanying unaudited
condensed financial statements, the Company has an accumulated deficit of $112,492 at January 31, 2020, has no current operations
and has generated no income to date. These factors raise substantial doubt about its ability to continue as a going concern. The
financial statements have been prepared assuming that the Company will continue as a going concern. These financial statements
do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification
of liabilities that might be necessary should the Company be unable to continue as a going concern.
NOTE 4 – RELATED PARTY TRANSACTIONS
Since the fiscal year ended April 30, 2016,
Zoltan Nagy, CEO and Director, has advanced the Company funds to pay for general operating expenses. As of January 31, 2020 and
April 30, 2019, $65,505 and $62,510, respectively, is due to Mr. Nagy. The amount due is unsecured, non-interest bearing and due
on demand.
During the three months ended January 31,
2020, Walter Weeks, CEO of Optimum Mining, Inc (see Note 5), advanced the Company $8,625
to pay for professional fees. The advance is unsecured, non-interest bearing and due on demand.
NOTE 5 – SUBSEQUENT EVENTS
Management has evaluated subsequent events
pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were available
to be issued and has determined that there are no material subsequent events that require disclosure in these financial statements
other than the following.
On
April 2, 2020, the Company entered into a Definitive Merger Agreement with Optimum Mining, Inc. (“Optimum”). Under
the terms of the agreement, Black Rock proposes to acquire all of the 100,000,000 Issued and Outstanding Securities of Optimum
in consideration for 99,500,000 of the total 120,850,000 Black Rock Common Shares issued and outstanding. Black Rock has agreed
to appoint Mr. Walter J. Weekes, Sr. to the Board of Directors, President and Chief Financial Officer. The Board of Black Rock
appointed Kimberly S. Halvorson as Secretary of the Company. The Company plans to complete all the SEC required Filings with FINRA,
OTC Markets and the State of Nevada regarding the proposed Corporate Actions. On April 29, 2020, the parties
signed an addendum to the agreement in which they agreed to extend the original closing date of April 30, 2020 to May 31, 2020.