SNDD RedHawk Holdings Corporation (CE)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10-Q

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

For the quarterly period ended October 31, 2008

or

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

For the transition period from _____________ to _____________

Commission File Number 333-132258

Independence Energy Corp.
(Exact name of registrant as specified in its charter)

 Nevada 20-3866475
(State or other jurisdiction of (IRS Employer Identification No.)
 incorporation or organization)

 1610, 736 - 6th Avenue SW, Calgary, AB T2P 3T7
(Address of principal executive offices) (Zip Code)

 (604) 836-2292
 (Registrant's telephone number, including area code)

Oliver Creek Resources Inc.
250 - 5135 Camino Al Norte, North Las Vegas, NV 89031
(Former name, former address and former fiscal year,
if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 the past 90 days. [X] YES [ ] NO

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

Large accelerated filer [ ] Accelerated filer [ ]
Non-accelerated filer [ ] Smaller reporting company [X]
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act [X] YES [ ] NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. [ ] YES [ ] NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

24,000,000 common shares issued and outstanding as of December 1, 2008

ITEM 1. FINANCIAL STATEMENTS

 As of As of
 October 31, January 31,
 2008 2008
 -------- --------
 (Unaudited)
 ASSETS

CURRENT ASSETS
 Cash $ 15,040 $ 30,853
 -------- --------
TOTAL CURRENT ASSETS 15,040 30,853
 -------- --------

 $ 15,040 $ 30,853
 ======== ========

 LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
 Accounts Payable $ 4,786 $ 1,000
 Loan Payable - (related party) -- 195
 -------- --------
TOTAL CURRENT LIABILITIES 4,786 1,195
 -------- --------

TOTAL LIABILITIES 4,786 1,195

STOCKHOLDERS' EQUITY (DEFICIT)
 Common stock, ($0.001 par value, 75,000,000 shares
 authorized; 24,000,000 shares issued and outstanding
 as of October 31, and January 31, 2008) 24,000 24,000
 Additional paid-in capital 36,000 36,000
 Deficit accumulated during exploration stage (49,746) (30,342)
 -------- --------
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 10,254 29,658
 -------- --------

 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 15,040 $ 30,853
 ======== ========

See Notes to Financial Statements

 November 30, 2005
 Nine Months Nine Months Three Months Three Months (inception)
 Ended Ended Ended Ended through
 October 31, October 31, October 31, October 31, October 31,
 2008 2007 2008 2007 2008
 ----------- ----------- ----------- ----------- -----------
REVENUES
 Revenues $ -- $ -- $ -- $ -- $ --
 ----------- ----------- ----------- ----------- -----------
TOTAL REVENUES -- -- -- -- --

OPERATING COSTS
 Administrative Expenses 6,224 7,219 3,397 195 23,764
 Professional fees 13,179 4,500 5,679 -- 26,079
 ----------- ----------- ----------- ----------- -----------
TOTAL OPERATING COSTS 19,403 11,719 9,076 195 49,843

OTHER INCOME (EXPENSES)
 Gain from currency exchange -- -- -- -- 97
 ----------- ----------- ----------- ----------- -----------
Total Other Income -- -- -- -- 97
 ----------- ----------- ----------- ----------- -----------

NET INCOME (LOSS) $ (19,403) $ (11,719) $ (9,076) $ (195) $ (49,746)
 =========== =========== =========== =========== ===========

BASIC AND DILUTED EARNINGS
 (LOSS) PER SHARE $ (0.00) $ (0.00) $ (0.00) $ (0.00)
 =========== =========== =========== ===========

WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING 24,000,000 24,000,000 24,000,000 24,000,000
 =========== =========== =========== ===========

See Notes to Financial Statements

 Deficit
 Accumulated
 Common Additional During
 Common Stock Paid-in Exploration
 Stock Amount Capital Stage Total
 ----- ------ ------- ----- -----
BALANCE, NOVEMBER 30, 2005 -- $ -- $ -- $ -- $ --

Stock issued for cash on November 30, 2005
 @ $0.000833 per share 12,000,000 12,000 (2,000) 10,000

Net loss, January 31, 2006 (8) (8)
 ----------- -------- -------- --------- --------

Balance, January 31, 2006 12,000,000 12,000 (2,000) (8) 9,992
 ----------- -------- -------- --------- --------
Stock issued for cash from SB-2 offering
 @ $0.00416667 per share 12,000,000 12,000 38,000 50,000

Net loss, January 31, 2007 (14,303) (14,303)
 ----------- -------- -------- --------- --------

Balance, January 31, 2007 24,000,000 24,000 36,000 (14,310) 45,690
 ----------- -------- -------- --------- --------
Net loss, January 31, 2008 (16,032) (16,032)
 ----------- -------- -------- --------- --------

Balance, January 31, 2008 24,000,000 24,000 36,000 (30,342) 29,658
 ----------- -------- -------- --------- --------
Net loss, October 31, 2008 (19,403) (19,403)
 ----------- -------- -------- --------- --------

BALANCE, OCTOBER 31, 2008 (UNAUDITED) 24,000,000 $ 24,000 $ 36,000 $ (49,746) $ 10,254
 =========== ======== ======== ========= ========

Note: On August 12, 2008 the Company effected a 12 for 1 forward split of its share capital such that every one share of common stock issued and outstanding prior to the split was exchanged for twelve post-split shares of common stock.

See Notes to Financial Statements

 November 30, 2005
 Nine Months Nine Months (inception)
 Ended Ended through
 October 31, October 31, October 31,
 2008 2007 2008
 -------- -------- --------
CASH FLOWS FROM OPERATING ACTIVITIES
 Net income (loss) $(19,403) $(11,719) $(49,746)
 Adjustments to reconcile net loss to net cash
 provided by (used in) operating activities:

 Changes in operating assets and liabilities:
 (Increase) decrease in Deposit -- 2,500 --
 Increase (decrease) in Accounts Payable 3,786 (1,200) 4,786
 Increase (decrease) in Loan Payable - (related party) (195) (225) --
 -------- -------- --------
 NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (15,813) (10,644) (44,960)

CASH FLOWS FROM INVESTING ACTIVITIES

 NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES -- -- --

CASH FLOWS FROM FINANCING ACTIVITIES
 Issuance of common stock -- -- 24,000
 Additional paid-in capital -- -- 36,000
 -------- -------- --------
 NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES -- -- 60,000
 -------- -------- --------

NET INCREASE (DECREASE) IN CASH (15,813) (10,644) 15,040

CASH AT BEGINNING OF PERIOD 30,853 45,810 --
 -------- -------- --------

CASH AT END OF PERIOD $ 15,040 $ 35,166 $ 15,040
 ======== ======== ========

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during year for:
 Interest $ -- $ -- $ --
 ======== ======== ========

 Income Taxes $ -- $ -- $ --
 ======== ======== ========

See Notes to Financial Statements

INDEPENDENCE ENERGY CORP.
(FORMERLY OLIVER CREEK RESOURCES INC.)

(An Exploration Stage Company)

NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

Independence Energy Corp. (formerly Oliver Creek Resources Inc., the "Company") was incorporated under the laws of the State of Nevada on November 30, 2005. The Company was formed to engage in the acquisition, exploration and development of natural resource properties.

The Company is in the exploration stage. Its activities to date have been limited to capital formation, organization and development of its business plan. The Company has completed the initial phase of its exploration program.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. BASIS OF ACCOUNTING

The Company's financial statements are prepared using the accrual method of accounting. The Company has elected a January 31, year-end.

B. BASIC EARNINGS PER SHARE

In February 1997, the FASB issued SFAS No. 128, "Earnings Per Share", which specifies the computation, presentation and disclosure requirements for earnings
(loss) per share for entities with publicly held common stock. SFAS No. 128 supersedes the provisions of APB No. 15, and requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of SFAS No. 128 effective November 30, 2005 (inception).

Basic net loss per share amounts is computed by dividing the net loss by the weighted average number of common shares outstanding. Diluted earnings per share are the same as basic earnings per share due to the lack of dilutive items in the Company.

C. CASH EQUIVALENTS

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

D. USE OF ESTIMATES AND ASSUMPTIONS

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 could differ from those estimates. In accordance with FASB 16 all adjustments are normal and recurring.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

E. INCOME TAXES

Income taxes are provided in accordance with Statement of Financial Accounting Standards No. 109 (SFAS 109), Accounting for Income Taxes. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

F. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

In May 2008, the Financial Accounting Standards Board ("FASB") issued SFAS No. 163, "Accounting for Financial Guarantee Insurance Contracts-and interpretation of FASB Statement No. 60". SFAS No. 163 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement of premium revenue and claims liabilities. This statement also requires expanded disclosures about financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal years beginning on or after December 15, 2008, and interim periods within those years. SFAS No. 163 has no effect on the Company's financial position, statements of operations, or cash flows at this time.

In May 2008, the Financial Accounting Standards Board ("FASB") issued SFAS No. 162, "The Hierarchy of Generally Accepted Accounting Principles". SFAS No. 162 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. SFAS No. 162 will become effective 60 days after the SEC approves the PCAOB's amendments to AU
Section 411 of the AICPA Professional Standards. SFAS No. 162 has no effect on the Company's financial position, statements of operations, or cash flows at this time.

In March 2008, the Financial Accounting Standards Board ("FASB") issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activities--an amendment of FASB Statement No. 133. This standard requires companies to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entity's financial position, financial performance, and cash flows. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

November 15, 2008, with early application encouraged. The Company has not yet adopted the provisions of SFAS No. 161, but does not expect it to have a material impact on its consolidated financial position, results of operations or cash flows.

In December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding the use of a "simplified" method, as discussed in SAB No. 107 (SAB 107), in developing an estimate of expected term of "plain vanilla" share options in accordance with SFAS No. 123 (R), Share-Based Payment. In particular, the staff indicated in SAB 107 that it will accept a company's election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007. The Company currently uses the simplified method for "plain vanilla" share options and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is not believed that this will have an impact on the Company's consolidated financial position, results of operations or cash flows.

In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statements--an amendment of ARB No. 51. This statement amends ARB 51 to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Before this statement was issued, limited guidance existed for reporting noncontrolling interests. As a result, considerable diversity in practice existed. So-called minority interests were reported in the consolidated statement of financial position as liabilities or in the mezzanine section between liabilities and equity. This statement improves comparability by eliminating that diversity. This statement is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier adoption is prohibited. The effective date of this statement is the same as that of the related Statement 141 (revised 2007). The Company will adopt this Statement beginning March 1, 2009. It is not believed that this will have an impact on the Company's consolidated financial position, results of operations or cash flows.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

In December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations.'This Statement replaces FASB Statement No. 141, Business Combinations, but retains the fundamental requirements in Statement 141. This Statement establishes principles and requirements for how the acquirer: (a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree; (b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and (c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. This statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. An entity may not apply it before that date. The effective date of this statement is the same as that of the related FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements. The Company will adopt this statement beginning March 1, 2009. It is not believed that this will have an impact on the Company's consolidated financial position, results of operations or cash flows.

NOTE 3. GOING CONCERN

The accompanying financial statements are presented on a going concern basis. The Company had no operations during the period from November 30, 2005 (inception) to October 31, 2008 and generated a net loss of $49,746. This condition raises substantial doubt about the Company's ability to continue as a going concern. Because the Company is currently in the exploration stage and has minimal expenses, management believes that the company's current cash of $15,040 is sufficient to cover the expenses they will incur during the next twelve months in a limited operations scenario or until they raise additional funding.

NOTE 4. RELATED PARTY TRANSACTIONS

The Company neither owns nor leases any real or personal property. Both officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities as they become available, they may face a conflict in selecting between the Company and their other business interests. The Company has not formulated a policy for the resolution of such conflicts.

NOTE 5. INCOME TAXES

 As of October 31, 2008
 ----------------------
 Deferred tax assets:
 Net operating tax carryforwards $ 16,914
 Other 0
 --------
 Gross deferred tax assets 16,914
 Valuation allowance (16,914)
 --------

 Net deferred tax assets $ 0
 ========

Realization of deferred tax assets is dependent upon sufficient future taxable

income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.

NOTE 6. NET OPERATING LOSSES

As of October 31, 2008, the Company has a net operating loss carryforwards of approximately $49,746. Net operating loss carryforward expires twenty years from the date the loss was incurred.

NOTE 7. STOCK TRANSACTIONS

Transactions, other than employees' stock issuance, are in accordance with paragraph 8 of SFAS 123. Thus issuances shall be accounted for based on the fair value of the consideration received. Transactions with employees' stock issuance are in accordance with paragraphs (16-44) of SFAS 123. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, or whichever is more readily determinable.

On November 30, 2005 the Company issued a total of 12,000,000 shares of common stock to one director for cash in the amount of $10,000.

On June 12, 2006 the Company issued 12,000,000 units from the Company's registered SB-2 offering reflecting 12,000,000 shares of common stock.

NOTE 7. STOCK TRANSACTIONS (CONTINUED)

On August 12, 2008 the Company effected a 12 for 1 forward split of its issued and outstanding share capital such that every one share of common stock issued and outstanding prior to the split was exchanged for twelve post-split shares of common stock. The number of shares referred to in the previous paragraphs is post-split number of shares. The Company's post-split authorized capital remains unchanged at 75,000,000 shares of common stock with a par value of $0.001 per share. All share amounts have been retroactively adjusted for all periods presented.

As of October 31, 2008 the Company had 24,000,000 shares of common stock issued and outstanding.

NOTE 8. STOCKHOLDERS' EQUITY

The stockholders' equity section of the Company contains the following classe of capital stock as of October 31, 2008:

Common stock, $ 0.001 par value: 75,000,000 shares authorized; 24,000,000 shares issued and outstanding.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States dollars and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars. All references to "common shares" refer to the common shares in our capital stock. As used in this quarterly report, the terms "we", "us", "our", "our company" and "Independence Energy" mean Independence Energy Corp., unless otherwise stated.

GENERAL OVERVIEW

We were incorporated in the State of Nevada on November 30, 2005 under the name "Oliver Creek Resources Inc.". At inception, we were an exploration stage company engaged in the acquisition, exploration and development of natural resource properties.

We have had one resource property to date known as the Thistle Claim located in British Columbia, Canada. During the quarter, we completed our Phase I exploration program on our Thistle Claim which consisted of conducting detailed geological mapping of all roads within and buttressing the claims and silt sampling of every drainage or draw. Based on the information available to us from our Phase I exploration program, we determined that the Thistle Claim did not, in all likelihood, contain a commercially viable mineral deposit, and we therefore abandoned any further exploration on the property.

As a result, we are investigating several other business opportunities to enhance shareholder value, and are focused on the oil and gas industry with the acquisition of oil and natural gas assets both in Canada and the United States. These consist of natural gas production and oils sands exploration in Canada and off-shore exploration in the Texas Gulf area of the Unites States. Subject to completing due diligence and funding sources being available we intend to pursue business opportunities in the oil and gas business.

We will require additional funding to proceed. We cannot provide investors with any assurance that we will be able to raise sufficient funds to fund any work in the oil and gas business.

Effective August 12, 2008, we affected a 12 for one forward stock split of our issued and outstanding common stock. As a result, our authorized capital remains at 75,000,000 shares of common stock with a par value of $0.001 and our issued

and outstanding shares increased from 2,000,000 shares of common stock to 24,000,000 shares of common stock.

RESULTS OF OPERATIONS

Three month Summary ending October 31, 2008 and 2007

 Three Months Ended
 October 31,
 2008 2007
 ------ ------

Revenue $ Nil $ Nil
Operating Expenses $9,076 $ 195
Net Loss $9,076 $ 195

EXPENSES

Our operating expenses for the three month periods ended October 31, 2008 and 2007 are outlined in the table below:

 Three Months Ended
 October 31,
 2008 2007
 ------ ------

General and administrative $3,397 $ 195
Professional fees $5,679 $ 0
Consulting fees $ 0 $ 0

Nine month Summary ending October 31, 2008 and 2007

 Six Months Ended
 October 31,
 2008 2007
 ------ ------

Revenue $ Nil $ Nil
Operating Expenses $19,403 $11,719
Net Loss $19,403 $11,719

EXPENSES

Our operating expenses for the nine month periods ended October 31, 2008 and 2007 are outlined in the table below:

 Six Months Ended
 October 31,
 2008 2007
 ------ ------

General and administrative $ 6,224 $ 7,219
Professional fees $13,179 $ 4,500
Consulting fees $ 0 $ 0

REVENUE

We have not earned any revenues since our inception and we do not anticipate earning revenues in the upcoming quarter.

EQUITY COMPENSATION

We currently do not have any stock option or equity compensation plans or arrangements.

LIQUIDITY AND FINANCIAL CONDITION

WORKING CAPITAL

 At At Percentage
 October 31, January 31, Increase/
 2008 2008 Decrease
 ------- ------- --------
 Current Assets $15,040 $29,658 -50%
 Current Liabilities $ 4,786 $ 1,195 +75%
 Working Capital (deficit) $10,254 $28,463 -64%

CASH FLOWS
 Nine Months Nine Months
 Ended Ended
 October 31, October 31,
 2008 2007
 ------- -------
 Net Cash Used in Operating Activities $15,813 $10,644
 Net Cash Provided by Investing Activities $ 0 $ 0
 Net Cash Provided by Financing Activities $ 0 $ 0
 DECREASE IN CASH DURING THE PERIOD $15,813 $10,644

We have generated no revenue since inception and have incurred $49,843 in expenses through October 31, 2008. We had a net loss of $9,076 and $195 for the three months ended October 31, 2008 and 2007, respectively. These expenses consisted of professional fees and administrative expenses.

Our cash in the bank at October 31, 2008 was $15,040. At the same time our outstanding liabilities were $4,786. Cash provided by financing activities since inception is as follows:

1. On November 30, 2005, a total of 1,000,000 shares of Common Stock were issued to Mr. Thomson, a director, in exchange for cash in the amount of $10,000, or $.01 per share.

2. During the months of April - June, 2006 1,000,000 units from the Company's registered SB-2 offering were sold reflecting 1,000,000 units of common stock at issued price $0.05 per unit for a total of $50,000. Each unit consisted of one share and one share purchase warrant. Each share purchase warrant was valid for a period of two years from the date of the prospectus, expiring on March 22, 2008. None of the warrants were exercised prior to expiration.

3. Effective August 12, 2008, we affected a 12 for one forward stock split of our issued and outstanding common stock. As a result, our authorized capital remains at 75,000,000 shares of common stock with a par value of $0.001 and our issued and outstanding shares increased from 2,000,000 shares of common stock to 24,000,000 shares of common stock.

GOING CONCERN

We are an exploration stage company and currently have no operations. Our independent auditor has issued an audit opinion for the company which includes a statement expressing substantial doubt as to our ability to continue as a going concern.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

ITEM 4T. 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 principal executive officer and principal accounting and financial officer (our president) to allow for timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, our management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and our management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were effective such that the material information required to be included in our Securities and Exchange Commission reports is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms relating to our company, particularly during the period when this report was being prepared.

Additionally, there were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the evaluation date. We have not identified any significant deficiencies or material weaknesses in our internal controls, and therefore there were no corrective actions taken.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

ITEM 1A. RISK FACTORS

Much of the information included in this quarterly report includes or is based upon estimates, projections or other forward looking statements. Such forward looking statements include any projections and estimates made by us and our management in connection with our business operations. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein.

Such estimates, projections or other forward looking statements involve various risks and uncertainties as outlined below. We caution the reader that important factors in some cases have affected and, in the future, could materially affect actual results and cause actual results to differ materially from the results expressed in any such estimates, projections or other forward looking statements.

WE HAVE HAD NEGATIVE CASH FLOWS FROM OPERATIONS AND IF WE ARE NOT ABLE TO OBTAIN FURTHER FINANCING, OUR BUSINESS OPERATIONS MAY FAIL.

We had cash in the amount of $15,040 and working capital of $10,254 as of October 31, 2008. We do not have sufficient funds to independently finance the acquisition and development of prospective oil and gas properties, nor do we have the funds to independently finance our daily operating costs. We do not expect to generate any revenues for the foreseeable future. Accordingly, we will require additional funds, either from equity or debt financing, to maintain our daily operations and to locate, acquire and develop a prospective property. Obtaining additional financing is subject to a number of factors, including market prices for oil and gas, investor acceptance of any property we may acquire in the future, and investor sentiment. Financing, therefore, may not be available on acceptable terms, if at all. The most likely source of future funds presently available to us is through the sale of equity capital. Any sale of share capital, however, will result in dilution to existing shareholders. If we are unable to raise additional funds when required, we may be forced to delay our plan of operation and our entire business may fail.

WE CURRENTLY DO NOT GENERATE REVENUES, AND AS A RESULT, WE FACE A HIGH RISK OF BUSINESS FAILURE.

We do not hold an interest in any business or revenue generating property. We are currently focusing on the location and acquisition of oil and gas properties. We have not generated any revenues to date. In order to generate revenues, we will incur substantial expenses in the location, acquisition and development of a prospective property. We therefore expect to incur significant losses into the foreseeable future. We recognize that if we are unable to generate significant revenues from our activities, our entire business may fail. There is no history upon which to base any assumption as to the likelihood that we will be successful in our plan of operation, and we can provide no assurance to investors that we will generate any operating revenues or achieve profitable operations.

DUE TO THE SPECULATIVE NATURE OF THE EXPLORATION OF OIL AND GAS PROPERTIES, THERE IS SUBSTANTIAL RISK THAT OUR BUSINESS WILL FAIL.

The business of oil and gas exploration and development is highly speculative involving substantial risk. There is generally no way to recover any funds expended on a particular property unless reserves are established and unless we can exploit such reserves in an economic manner. We can provide investors with no assurance that any property interest that we may acquire will provide commercially exploitable reserves. Any expenditure by our company in connection with locating, acquiring and developing an interest in a oil and gas property may not provide or contain commercial quantities of reserves.

EVEN IF WE DISCOVER COMMERCIAL RESERVES, WE MAY NOT BE ABLE TO SUCCESSFULLY OBTAIN COMMERCIAL PRODUCTION.

Even if we are successful in acquiring an interest in a property that has proven commercial reserves of oil and gas, we will require significant additional funds in order to place the property into commercial production. We can provide no assurance to investors that we will be able to obtain the financing necessary to extract such reserves.

IF WE ARE UNABLE TO HIRE AND RETAIN KEY PERSONNEL, WE MAY NOT BE ABLE TO IMPLEMENT OUR PLAN OF OPERATION AND OUR BUSINESS MAY FAIL.

Our success will be largely dependent on our ability to hire and retain highly qualified personnel. This is particularly true in the highly technical businesses of oil and gas exploration. These individuals may be in high demand and we may not be able to attract the staff we need. In addition, we may not be able to afford the high salaries and fees demanded by qualified personnel, or we may fail to retain such employees after they are hired. At present, we have not hired any key personnel. Our failure to hire key personnel when needed will have a significant negative effect on our business.

OUR COMMON STOCK IS ILLIQUID AND SHAREHOLDERS MAY BE UNABLE TO SELL THEIR SHARES.

There is currently a limited market for our common stock and we can provide no assurance to investors that a market will develop. If a market for our common stock does not develop, our shareholders may not be able to re-sell the shares of our common stock that they have purchased and they may lose all of their investment. Public announcements regarding our company, changes in government regulations, conditions in our market segment or changes in earnings estimates by analysts may cause the price of our common shares to fluctuate substantially. In addition, stock prices for junior oil and gas companies fluctuate widely for reasons that may be unrelated to their operating results. These fluctuations may adversely affect the trading price of our common shares.

PENNY STOCK RULES WILL LIMIT THE ABILITY OF OUR STOCKHOLDERS TO SELL THEIR STOCK.

The Securities and Exchange Commission has adopted regulations which generally define "penny stock" to be any equity security that has a market price (as defined) less than $5.00 per share or an exercise price of less than $5.00 per share, subject to certain exceptions. Our securities are covered by the penny stock rules, which impose additional sales practice requirements on broker-dealers who sell to persons other than established customers and "accredited investors". The term "accredited investor" refers generally to institutions with assets in excess of $5,000,000 or individuals with a net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouse. The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from the rules, to deliver a standardized risk disclosure document in a form prepared by the Securities and Exchange Commission which provides information about penny stocks and the nature and level of risks in the penny stock market. The broker-dealer also must provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson in the transaction and monthly account statements showing the market value of each penny stock held in the customer's account. The bid and offer quotations, and the broker-dealer and salesperson compensation information, must be given to the customer orally or in writing prior to effecting the transaction and must be given to the customer in writing before or with the customer's confirmation. In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from these rules, the broker-dealer must make a special written determination that the penny stock is a suitable investment for the purchaser and receive the purchaser's written agreement to the transaction. These disclosure requirements may have the effect of reducing the level of trading activity in the secondary market for the stock that is subject to these penny stock rules. Consequently, these penny stock rules may affect the ability of broker-dealers to trade our securities. We believe that the penny stock rules discourage investor interest in and limit the marketability of our common stock.

THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, OR FINRA, HAS ADOPTED SALES PRACTICE REQUIREMENTS WHICH MAY ALSO LIMIT A SHAREHOLDER'S ABILITY TO BUY AND SELL OUR STOCK.

In addition to the "penny stock" rules described above, FINRA has adopted rules that require that in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative low priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer's financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA believes that there is a high probability that speculative low priced securities will not be suitable for at least some customers. FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit your ability to buy and sell our stock and have an adverse effect on the market for its shares.

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

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

ITEM 5. OTHER INFORMATION

Effective August 12, 2008, the Company affected a 12 for one forward stock split of its issued and outstanding common stock. As a result, its authorized capital remains at 75,000,000 shares of common stock with a par value of $0.001 and it's issued and outstanding shares increased from 2,000,000 shares of common stock to 24,000,000 shares of common stock.

Also, effective August 12, 2008, the Company has changed its name from "Oliver Creek Resources Inc." to "Independence Energy Corp."

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing.

Exhibit
Number Description
------ -----------

(3) ARTICLES OF INCORPORATION AND BYLAWS

3.1 Articles of Incorporation (incorporated by reference to our registration statement on form SB-2 filed on March 7, 2006).

3.2 Bylaws (incorporated by reference to our registration statement on form SB-2 filed on March 7, 2006).

3.3 Certificate of Change filed with the Secretary of State of Nevada (incorporated by reference from our Current Report on Form 8-K filed on August 14, 2008).

3.4 Certificate of Amendment filed with the Secretary of State of Nevada (incorporated by reference from our Current Report on Form 8-K filed on August 14, 2008).

(31) SECTION 302 CERTIFICATIONS

31.1* Section 302 Certification of Principal Executive Officer and Principal Financial Officer.

(32) SECTION 906 CERTIFICATION

32.1* Section 906 Certification of Principal Executive Officer and Principal
 Financial Officer.

----------

* filed herewith

SIGNATURES

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

December 1, 2008 Independence Energy Corp., Registrant
 (Formerly Oliver Creek Resources Inc.)


 By: /s/ Bruce Thomson
 --------------------------------------------------
 Bruce Thomson, President, Chief Executive Officer,
 Principal Accounting Officer, and
 Chief Financial Officer

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

December 1, 2008 Independence Energy Corp., Registrant
 (Formerly Oliver Creek Resources Inc.)


 By: /s/ Bruce Thomson
 --------------------------------------------------
 Bruce Thomson, President, Chief Executive Officer,
 Principal Accounting Officer, and
 Chief Financial Officer

RedHawk (CE) (USOTC:SNDD)
Historical Stock Chart
From Jun 2024 to Jul 2024

RedHawk (CE) (USOTC:SNDD)
Historical Stock Chart
From Jul 2023 to Jul 2024