UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

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

For the quarterly period ended March ~~September 30~~31, ~~2014~~2015

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

For the transition period from ________ to ________

Commission File Number : 000-28847

FORMCAP CORP.

( Exact name of registrant as specified in its charter )

Nevada		1006772219
(State or other jurisdiction of incorporation or organization)		(I.R.S. Empl. Ident. No.)

50 West Liberty Street, Suite 880, Reno, NV 89501

(Address of principal executive offices) (Zip Code)

775-285-5775

(Issuer's telephone number)

Indicate by check mark whether the registrant (1) has 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 the past 90 days. YES o NO x

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 o No o

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

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

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

The number of shares outstanding the issuer’s common stock, $0.001 par value, was 6088,~~804~~841,833 as of ~~November~~October 153, ~~2014~~2015

FormCap Corp. Form 10-Q For the Quarter Ended ~~September~~March 3031, ~~2014~~2015 TABLE OF CONTENTS

Contents
Item 1.	Financial Statements	3
	Condensed Balance Sheets	3
	Condensed Statements of Operations	4
	Condensed Statements of Cash Flows	5
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	14
Item 4.	Controls and Procedures	14
PART II - OTHER INFORMATION		13
Item 1.	Legal Proceedings	15
Item 1A.	Risk Factors	15
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	15
Item 3.	Defaults upon Senior Securities	16
Item 4.	Mine Safety Disclosures	16
Item 5.	Other Information	16
Item 6.	Exhibits	16
SIGNATURES		17

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

FormCap Corp.

(A Development Stage Company)

Condensed Balance ~~Sheets~~ Sheets

		September 30,			December 31,
ASSETS
		2014			2013
									March 31,	December 31,
		(Unaudited)
									2015	2014
ASSETS
									(Unaudited)	(Unaudited)
TOTAL ASSETS
Current Assets
Cash		$	499		$	910
	Cash and Cash Equivalents								$ 66	$ 278
Other receivable						-
	Prepayments								6,875	6,875
Promissory note receivable			8,902			9,266
	Related Party Note Receivable								8,170	8,170
Total Current Assets			9,401			10,176
TOTAL CURRENT ASSETS									15,111	15,323
OTHER ASSETS
	OIL AND GAS LEASE RIGHTS									0
Exploration property lease			516,802			101,802
TOTAL ASSETS									$ 15,111	$ 15,323
TOTAL ASSETS		$	526,203		$	111,978
								LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
CURRENT LIABILITIES
	Accounts Payable and Accrued Liabilities								$ 22,552	$ 23,107
Accounts payable and accrued liabilities		$	121,772		$	101,297
	Accounts Payable - Related Parties								104,357	104,357
Notes payable - related parties			111,500			111,500
	Convertible Promissory Notes Payable-Related Parties								113,490	113,490
Notes payable			75,653			78,653
	Convertible Promissory Notes Payable								135,650	125,100
Convertible notes payable			182,800			111,800
	Notes Payable								52,059	52,059
Convertible notes payable – related party			113,490			48,990
	Related Parties Payable								111,500	111,500
Royalty and license fee payable			135,000			135,000
	Royalty and License Fee Payable								135,000	135,000
Total Current Liabilities			740,215			587,240
TOAL CURRENT LIABILITIES									674,608	664,613
TOTAL LIABILITIES			740,215			587,240
TOAL LIABILITIES									674,608	664,613
STOCKHOLDERS’ EQUITY
Stockholders' Equity
Preferred stock, 50,000,000 shares authorized at par value of $0.001, no shares issued and outstanding			-			-
Preferred Stock, 50,000,000 shares authorized at par
Common stock, 200,000,000 shares authorized at par value of $0.001, 60,804,346 shares issued and outstanding (9,223,824 shares issued and outstanding as at December 31, 2013)			60,804			9,224
value of $0.01, no shares issued and outstanding
Stock subscription receivable			(17,000	)		(17,000	)
Common Stock, 200,000,000 shares authorized at par
Additional paid-in capital			21,696,758			13,888,388
value of $0.01; 88,841,833 and 9,223,822 shares
Accumulated deficit			(21,954,574	)		(14,355,874	)
issued and outstanding respectively									88,767	88,767
Total Stockholders’ Equity			(214,012	)		(475,262	)
Additional Paid-in Capital									22,228,795	22,228,795
TOTAL LIABLITIES AND STOCKHOLDERS’ DEFICIT		$	526,203		$	111,978
(Deficit) accumulated during the development stage									(22,977,059)	(22,966,852)
TOTAL STOCKHOLDERS' EQUITY									(659,497)	(649,290)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY									$ 15,111	$ 15,323

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

FormCap Corp.

Formcap Corp.
(A Development Stage Company)
Condensed Statements of Operations
Unaudited
For Three Months Ended March 31, 2015 and 2014
and From April 10, 1991 (Inception) to March 31, 2015

		For the Three Months Ended		From April 10, 1991
		March 31,	March 31,	(Inception) to March 31,
		2015	2014	2015
Revenues
	Revenue	$ -	$ -	$ 321,889
	Cost of Sales			(352,683)

	GROSS MARGIN	-	-	(30,794)

OPERATING EXPENSES
	Consulting Fees		-	1,121,839
	Professional Fees			10,053
	Loss on Impairment of Assets			1,663,008
	Financing Expenses		-	779,100
	General and Admin Expenses	$ 10,207	17,715	5,713,173
Total Operating Expenses		$ 10,207	17,715	9,287,173

LOSS FROM OPERATIONS		$ (10,207)	(17,715)	(9,317,967)

OTHER INCOME AND (EXPENSES)
	Interest Expenses			864,263
	Gain on Settlement of Debt			(286,855)
	Loss on Settlement of Debt		1,638,000	13,081,717
			1,638,000	13,659,125

	Total Loss from Other Expenses	-	(1,638,000)	(13,659,125)

LOSS BEFORE INCOME TAXES		$ (10,207)	$ (1,655,715)	$ (22,977,092)

	Provision for Income Taxes

NET LOSS		$ (10,207)	$ (1,655,715)	$ (22,977,092)

Net (loss) per share
	Basic and diluted	$ (0)	$ (0)

(AThe ~~Development~~accompanying ~~Stage~~notes are ~~Company)~~an integral part of these condensed financial statements.

~~Condensed Statements of Operations~~4

(Unaudited)

Formcap Corp.
(A Development Stage Company)
Condensed Statement of Cash Flows
For Three Months Ended March 31, 2015 and 2014

			For the Three Months Ended
			March 31,	March 31,
			2015	2014

Cash Flow from Operating Activities
	Net (loss) for the period		$ (10,207)	(1,655,715)

	Adjustmens to reconcile net loss to net cash
	used by operating activities:
		Loss on settlement of debt		1,638,000
	Changes in:
		Accounts payable and accrued liabilities	(555)	11,999
		General and Admin. Expenses		628
		Convertible Notes Payable	10,550
	Net cash used for operating activities		$ (212)	$ (5,088)

	Financing Activities
		Proceeds from convertible notes payable		11,000
	Net cash provided by financing activities		$ -	11,000


	Net change in cash		$ (212)	$ 5,912

	Cash, Beginning of Period		$ 278	$ 910

	Cash, End of Period		$ 66	$ 6,822

	Three Months ended September 30,						Nine Months ended September 30,
	2014			2013			2014			2013
REVENUES	$	-		$	-		$	-		$	-
COST OF SALES		-			-			-			-
GROSS MARGIN		-			-			-			-
OPERATING EXPENSES
Consulting fees		64,950			(5,000	)		64,950			-
Loss on impairment of assets		367,000			-			367,000-			-
Financing expenses		-			-			-			-
General and administrative expenses		14,061			5,949			43,750			30,835
Total Operating Expenses		446,011			949			475,700			30,835
LOSS FROM OPERATIONS		(446,011	)		(949	)		(475,700	)		(30,835	)
OTHER INCOME AND (EXPENSE)
Interest expense		-			10			-			10
Gain on settlement of debt		-			-			-			-
Loss on settlement of debt		(5,485,000	)		-			(7,123,000	)		(2,274,000	)
Total Other Expense		(5,485,000	)		-			(7,123,000	)		(2,274,000	)
LOSS BEFORE INCOME TAXES		(5,931,011	)		(959	)		(7,598,700	)		(2,304,845	)
Provision for income taxes
NET LOSS	$	(5,931,011	)	$	(959	)	$	(7,598,700	)	$	(2,304,845	)
BASIC AND DILUTED NET LOSS PER COMMON SHARE	$	(0.60	)		(0.00	)	$	(0.46	)	$	(0.48	)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING		9,929,303			4,825,788			16,510,014			4,825,788

The accompanying notes are an integral part of these condensed financial statements

~~The accompanying notes are an integral part of these condensed financial statements.~~5

4FormCap Corp.

~~FormCap~~(A ~~Corp.~~Development Stage Company)

(ANotes ~~Development~~to ~~Stage~~the ~~Company)~~Condensed Financial Statements

~~Condensed~~March ~~Statements~~31, ~~of Cash Flows~~2015

(Unaudited)

	For the Nine Months Ended
	September 30,
		2014			2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss		$	(7,598,700	)	$	(2,304,845	)
Expenses paid on behalf of the Company			-			32,886
Expenses paid by related parties			-			-
Loss on impairment of assets			367,000			-
Loss on settlement of debt			7,123,000			2,274,000
Stock issued for services			54,950			-
Accounts payable and accrued liabilities			20,839			(17,132	)
Related Party Payables			-			23,107
Net Cash Used in Operating Activities			(32,911	)		8,106
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of oil and gas leases			-			(31,802	)
Notes receivable advances			-			(11,194	)
Net Cash Used in Investing Activities			-			(42,996	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable			-			34,967
Repayment of notes payable			(3,000	)		-
Proceeds from Convertible notes payable			14,500			-
Proceeds from Convertible notes payable – Related Parties			21,000			-
Net Cash Provided by Financing Activities			32,500			34,967
NET DECREASE IN CASH			(411	)		(13	)
CASH AT BEGINNING OF PERIOD			910			48
CASH AT END OF PERIOD		$	499		$	35
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
CASH PAID FOR:
Interest		$	-		$	-
NON CASH FINANCING ACTIVITIES:		$	-		$	-
Common stock held in escrow		$	75		$	-
Common stock issued for purchase of oil & gas leases		$	110,000		$	-

NOTE 1 - CONDENSED FINANCIAL STATEMENTS

The accompanying ~~notes~~financial ~~are~~statements have anbeen ~~integral~~prepared ~~part~~by the Company without audit. In the opinion of ~~these~~management, ~~condensed~~all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial ~~statements~~position, results of operations, and cash flows at March 31, 2015, and for all periods presented herein, have been made.

5Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2014 audited financial statements. The results of operations for the periods ended March 31, 2015 and 2014 are not necessarily indicative of the operating results for the full years.

~~FormCap~~NOTE ~~Corp.~~2 - SIGNIFICANT ACCOUNTING POLICIES

(ABasis ~~Development~~of ~~Stage Company)~~Presentation

~~Notes~~These tofinancial statements have been prepared in accordance with generally accepted accounting principles in the ~~Condensed~~United ~~Financial~~States ~~Statements~~of America and are stated in US dollars. Because a precise determination of many assets and liabilities is dependent upon future events, the preparation of financial statements for a period necessarily involves the use of estimates which have been made using careful judgment. Actual results may differ from these estimates.

~~September~~Reclassification of ~~30,~~Financial ~~2014~~Statement Accounts

~~(Unaudited)~~Certain amounts in the condensed financial statements have been reclassified to conform to the presentation adopted in the March 31, 2015 condensed financial statements.

~~NOTE~~Use 1of ~~- CONDENSED FINANCIAL STATEMENTS~~Estimates

The ~~accompanying~~preparation of financial statements ~~have~~in ~~been~~accordance ~~prepared~~with byaccounting ~~the~~principles ~~Company~~generally ~~without~~accepted ~~audit.~~in In the ~~opinion~~United States of ~~management,~~America ~~all~~requires ~~adjustments~~management to ~~(which~~make ~~include~~estimates ~~only~~and ~~normal~~assumptions ~~recurring~~that ~~adjustments)~~affect ~~necessary~~the toreported ~~present~~amounts ~~fairly~~of ~~the~~assets ~~financial~~and ~~position,~~liabilities ~~results~~and disclosure of ~~operations,~~contingent assets and ~~cash~~liabilities ~~flows~~ at ~~September~~the ~~30,~~date ~~2014,~~of the financial statements and ~~for~~the ~~all~~reportable ~~periods~~amounts ~~presented~~of ~~herein,~~revenues ~~have~~and ~~been~~expenses ~~made~~during the reporting period. Actual results could differ from those estimates.

~~Certain~~Basic ~~information~~Loss and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2013 audited financial statements. The results of operations for the periods ended September 30, 2014 and 2013 are not necessarily indicative of the operating results for the full years.Per Share

~~NOTE~~Basic 2earnings -(loss) per ~~SIGNIFICANT~~share ~~ACCOUNTING~~is ~~POLICIES~~calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There were no dilutive or potentially dilutive instruments outstanding as of March 31, 2015 and December 31, 2014.

~~Basis~~Stock ofIssued ~~Presentation~~in Exchange for Services

~~These~~The ~~financial~~valuation ~~statements~~of common ~~have~~stock ~~been~~issued ~~prepared~~ in ~~accordance~~exchange ~~with~~for ~~generally~~services ~~accepted~~is ~~accounting~~valued ~~principles~~at inan ~~the~~estimated ~~United~~fair ~~States~~market ofvalue ~~America~~as ~~and~~determined ~~are~~by ~~stated~~the inmost USreadily ~~dollars.~~determinable value ~~Because a precise determination~~ of ~~many~~either ~~assets~~the ~~and~~stock ~~liabilities~~or isservices ~~dependent~~exchanged. ~~upon~~Values ~~future~~of ~~events,~~ the ~~preparation~~stock ofare ~~financial~~based ~~statements~~upon ~~for~~other asales ~~period~~and ~~necessarily~~issuances ~~involves~~of the ~~use~~Company’s common ofstock ~~estimates~~within ~~which~~the ~~have~~same ~~been~~general ~~made~~time ~~using careful judgment~~period. ~~Actual results may differ from these estimates.~~

~~Reclassification of Financial Statement Accounts~~6

~~Certain~~FormCap ~~amounts in the condensed financial statements have been reclassified to conform to the presentation adopted in the September 30, 2014 condensed financial statements~~Corp.

~~Use~~(A ofDevelopment ~~Estimates~~Stage Company)

~~The~~Notes ~~preparation of financial statements in accordance with accounting principles generally accepted in the United States of America 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 reportable amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Condensed Financial Statements

~~Basic~~March ~~Loss~~31, ~~Per Share~~2015

~~Basic earnings~~ (~~loss~~Unaudited) per share is calculated by dividing the Company’s net loss applicable to common shareholders by the weighted average number of common shares during the period. Diluted earnings per share is calculated by dividing the Company’s net income available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. There were no dilutive or potentially dilutive instruments outstanding as of September 30, 2014 and December 31, 2013.

~~Stock~~Cash ~~Issued~~and ~~in Exchange for Services~~Cash Equivalents

~~The~~Cash ~~valuation~~equivalents are comprised of ~~common~~certain ~~stock~~highly ~~issued~~liquid ininvestments ~~exchange~~with ~~for~~original ~~services~~maturities isof ~~valued~~three atmonths anor ~~estimated~~less ~~fair~~when ~~market~~purchased. ~~value~~The asCompany maintains ~~determined~~its bycash ~~the~~in ~~most~~bank ~~readily~~deposit ~~determinable~~accounts ~~value~~which ofat ~~either~~times ~~the~~may ~~stock~~exceed orfederally ~~services~~insured ~~exchanged.~~limits ~~Values~~ of ~~the~~$250,000. ~~stock~~The ~~are~~Company ~~based~~has ~~upon~~not experienced ~~other~~any ~~sales~~losses ~~and~~related ~~issuances~~to this concentration of ~~the~~risk. ~~Company’s~~Deposits ~~common~~did ~~stock~~not ~~within~~exceed insured limits during the ~~same~~year ~~general~~ended ~~time~~December 31, ~~period~~2014.

6Financial Instruments

~~FormCap~~For ~~Corp~~accounts receivable, accounts payable, accrued liabilities, current portion of long-term debt and long-term debt, the carrying amounts of these financial instruments approximates their fair value. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, currency or credit risks arising from these financial instruments.

(AForeign ~~Development Stage Company)~~Currency Translation

~~Notes~~The Company translates foreign currency transactions and balances to its reporting currency, United States Dollars, in accordance with ASC 830 “Foreign Currency Matters”. Monetary assets and liabilities are translated into the ~~Condensed~~functional ~~Financial~~currency ~~Statements~~at the exchange rate in effect at the end of the year. Non-monetary assets and liabilities are translated at the exchange rate prevailing when the assets were acquired or the liabilities assumed. Revenue and expenses are translated at the rate approximating the rate of exchange on the transaction date. All exchange gains and losses are included in the determination of net income (loss) for the year.

~~September~~Income ~~30, 2014~~Taxes

~~(Unaudited)~~The Company applies ASC 740, which requires the asset and liability method of accounting for income taxes. The asset and liability method requires that the current or deferred tax consequences of all events recognized in the financial statements are measured by applying the provisions of enacted tax laws to determine the amount of taxes payable or refundable currently or in future years. Deferred tax assets are reviewed for recoverability and the Company records a valuation allowance to reduce its deferred tax assets when it is more likely than not that all or some portion of the deferred tax assets will not be recovered.

~~Cash~~The Company adopted ASC 740, at the beginning of fiscal year 2008. This interpretation requires recognition and ~~Cash~~measurement ~~Equivalents~~of uncertain tax positions using a “more-likely-than-not” approach, requiring the recognition and measurement of uncertain tax positions. The adoption of ASC 740 had no material impact on the Company’s financial statements.

~~Cash~~NOTE ~~equivalents~~3 - ~~are~~RECENTLY ~~comprised~~ENACTED of certain highly liquid investments with original maturities of three months or less when purchased. The Company maintains its cash in bank deposit accounts which at times may exceed federally insured limits of $250,000. The Company has not experienced any losses related to this concentration of risk. Deposits did not exceed insured limits during three and six months ended June 30, 2014 and the year ended December 31, 2013.ACCOUNTING STANDARDS

In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities (Topic 915): Elimination of Certain Financial ~~Instruments~~Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The guidance eliminates the definition of a development stage entity thereby removing the incremental financial reporting requirements from U.S. GAAP for development stage entities, primarily presentation of inception to date financial information. The provisions of the amendments are effective for annual reporting periods beginning after December 15, 2014, and the interim periods therein. However, early adoption is permitted. Accordingly, the Company has adopted this standard as of September 30, 2014.

~~For~~The ~~accounts~~Company ~~receivable,~~does not ~~accounts~~expect ~~payable, accrued liabilities, current portion of long-term debt and long-term debt,~~ the ~~carrying~~adoption ~~amounts~~ of ~~these~~any ~~financial~~other ~~instruments~~recent ~~approximates~~accounting ~~their~~pronouncements ~~fair value. Unless otherwise noted, it is management’s opinion that the Company is not exposed~~ to ~~significant~~have ~~interest,~~a ~~currency~~material orimpact ~~credit~~on ~~risks~~its ~~arising from these~~ financial ~~instruments~~statements.

~~Foreign Currency Translation~~7

~~The~~FormCap ~~Company translates foreign currency transactions and balances to its reporting currency, United States Dollars, in accordance with ASC 830 “Foreign Currency Matters”~~Corp. Monetary assets and liabilities are translated into the functional currency at the exchange rate in effect at the end of the year. Non-monetary assets and liabilities are translated at the exchange rate prevailing when the assets were acquired or the liabilities assumed. Revenue and expenses are translated at the rate approximating the rate of exchange on the transaction date. All exchange gains and losses are included in the determination of net income (loss) for the year.

~~Income~~(A ~~Taxes~~Development Stage Company)

~~The~~Notes Company applies ASC 740, which requires the asset and liability method of accounting for income taxes. The asset and liability method requires that the current or deferred tax consequences of all events recognized in the financial statements are measured by applying the provisions of enacted tax laws to ~~determine~~ the ~~amount~~Condensed Financial of taxes payable or refundable currently or in future years. Deferred tax assets are reviewed for recoverability and the Company records a valuation allowance to reduce its deferred tax assets when it is more likely than not that all or some portion of the deferred tax assets will not be recovered.Statements

~~The~~March ~~Company adopted ASC 740~~31, at the beginning of fiscal year 2008. This interpretation requires recognition and measurement of uncertain tax positions using a “more-likely-than-not” approach, requiring the recognition and measurement of uncertain tax positions. The adoption of ASC 740 had no material impact on the Company’s financial statements. 2015

~~NOTE 3 - RECENTLY ENACTED ACCOUNTING STANDARDS~~(Unaudited)

InNOTE ~~June~~4 ~~2014, the FASB issued ASU 2014~~-~~10,~~ ~~“Development~~GOING Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation”. The guidance eliminates the definition of a development stage entity thereby removing the incremental financial reporting requirements from U.S. GAAP for development stage entities, primarily presentation of inception to date financial information. The provisions of the amendments are effective for annual reporting periods beginning after December 15, 2014, and the interim periods therein. However, early adoption is permitted. Accordingly, the Company has adopted this standard as of September 30, 2014.CONCERN

The Company's ~~does~~financial statements ~~not~~are ~~expect~~prepared using generally accepted accounting principles in the ~~adoption~~United States of ~~any~~America ~~other~~applicable ~~recent~~to ~~accounting~~a ~~pronouncements~~going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to ~~have~~cover its operating costs and allow it to continue as a ~~material~~going concern. ~~impact~~The ability of the Company to continue as a going concern is dependent on ~~its~~the ~~financial~~Company ~~statements~~obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

7In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

~~FormCap~~The ~~Corp~~ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

(ANOTE ~~Development~~5 - ~~Stage~~PROMISSORY ~~Company)~~NOTE RECEIVABLE

~~Notes~~On June 3, 2013 the Company advanced the sum of $11,194 ($11,500 Canadian Dollars) to a related Canadian company. The loan is secured by a promissory note and is due on December 31, 2014. During the ~~Condensed~~year ~~Financial~~the ~~Statements~~Borrower repaid $1,097 leaving a balance of $8,170 as of March 31, 2015.

~~September~~The 30promissory note is non-interest bearing until maturity and bears interest at 3% per annum thereafter. The Promissory note will become due and payable if the company receives financing totalling $5,000,000 ~~2014~~in aggregate prior to the maturity date. The promissory note is convertible into common shares of the company either in whole or in part at the option of the Company on terms to be determined by the borrowing company.

~~(Unaudited)~~NOTE 6 - EXPLORATION PROPERTY LEASE

~~NOTE~~On 4November -19, ~~GOING~~2013 the ~~CONCERN~~Company executed a Definitive Agreement with Kerr Energy Group and Keta Oil & Gas LLC (Kerr and Keta) both incorporated in Kansas.

~~The~~Pursuant ~~Company's~~to ~~financial statements are prepared using generally accepted accounting principles in~~ the ~~United States~~ terms of ~~America applicable to a going concern which contemplates~~ the ~~realization~~Agreement ~~of assets and liquidation of liabilities in~~ the ~~normal course of business. The~~ Company ~~has~~agreed ~~not~~to ~~yet~~acquire ~~established~~up ~~an ongoing source of revenues sufficient~~ to ~~cover~~2,400 ~~its~~acres ~~operating~~in ~~costs~~Cowley ~~and~~County, ~~allow~~Kansas itat ~~to continue as~~ a ~~going~~cost ~~concern.~~not ~~The~~exceed ~~ability~~$200 ofper ~~the~~acre. In ~~Company~~addition, ~~to continue as a going concern is dependent on~~ the Company ~~obtaining~~agreed ~~adequate capital~~ to ~~fund~~issue ~~operating~~Kerr ~~losses~~and ~~until~~Keta ita ~~becomes~~total ~~profitable.~~of If200,000 ~~the~~Rule ~~Company~~144 isshares ~~unable~~of tothe ~~obtain~~common ~~adequate~~stock ~~capital,~~of ~~it could be forced to cease operations~~FormCap.

InThe ~~order~~Company towill own ~~continue~~100% asof athe ~~going~~Leases ~~concern,~~(80% ~~the~~net ~~Company~~revenue ~~will~~to ~~need,~~FormCap; ~~among~~20% ~~other~~freehold ~~things~~royalty), ~~additional~~and ~~capital~~will ~~resources.~~be ~~Management's~~the ~~plan~~operator. isThe toCompany ~~obtain~~will ~~such~~have ~~resources~~the option ~~for~~to ~~the~~purchase ~~Company~~additional byleases ~~obtaining~~in ~~capital~~Cowley County from ~~management~~Kerr and ~~significant~~Keta ~~shareholders~~under ~~sufficient~~an toArea ~~meet~~of ~~its~~Mutual ~~minimal~~Interest, ~~operating~~the ~~expenses~~terms ~~and~~of ~~seeking~~which are ~~equity~~set ~~and/or~~forth ~~debt~~in ~~financing~~the Agreement. ~~However~~FormCap ~~management~~is ~~cannot~~required ~~provide~~to ~~any~~drill ~~assurances~~one ~~that~~test ~~the~~well ~~Company~~in ~~will~~each beof ~~successful~~the infirst ~~accomplishing~~two ~~any~~years of the lease term in order to maintain its ~~plans~~interest in the Leases.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.8

~~NOTE~~FormCap ~~5 - PROMISSORY NOTE RECEIVABLE~~Corp.

On(A ~~June~~Development ~~3, 2013 the~~ Stage Company advanced the sum of $11,194 to an unrelated Canadian company. The loan is secured by a promissory note which matures on December 31, 2014. On November 30, 2013 the borrowing company repaid $1,928. As at September 30, 2014, the borrowing company owed the Company $8,902.)

~~The~~Notes promissory note is non-interest bearing until maturity and bears interest at 3% per annum thereafter. The Promissory note will become due and payable if the borrower receives financing totalling $5,000,000 in aggregate prior to the ~~maturity~~Condensed Financial ~~date. The promissory note is convertible into common shares of the company either in whole or in part at the option of the Company.~~Statements

~~NOTE~~March ~~6 -~~31, ~~EXPLORATION PROPERTY LEASE~~2015

~~On November 19, 2013 the Company executed a Definitive Agreement with Kerr Energy Group and Keta Oil & Gas LLC~~ (~~Kerr and Keta~~Unaudited) ~~both incorporated in Kansas.~~

~~Pursuant~~During toJanuary 2014, Ironridge Global IV, Ltd. ("Ironridge") purchased from Kerr and Keta the ~~terms~~Company’s obligation in the aggregate amount of $671,938.90 (the ~~Agreement~~"Claim Amount"). Subsequently, the Company ~~agreed~~offered to ~~acquire~~settle upthe Claim Amount by the issuance of unrestricted and fully tradable shares of the Company's common stock. Ironridge accepted the Company's settlement offer, subject to 2a hearing on the fairness of the settlement terms. On February 21,~~400~~ ~~acres~~2014, inthe ~~Cowley~~Company, ~~County~~Ironridge and the CEO of the Company entered into a Stipulation Order for the settlement on the terms agreed on by Ironridge and the Company. On February 21, ~~Kansas~~2014, a atCalifornia Superior Court for the County of Los Angeles (the "State Court") held a ~~cost~~hearing ~~not~~on ~~exceed~~the ~~$200~~fairness ~~per~~of ~~acre~~the Company's settlement offer to Ironridge. InPursuant ~~addition~~to the court order issued by the State Court on February 21, 2014, the shares of the Company's ~~agreed~~common stock will be deemed issued in settlement of the claims (subject to ~~issue~~certain ~~Kerr~~adjustments ~~and~~based ~~Keta~~on athe ~~total~~future trading value of ~~200~~the stock) when delivered to Ironridge. On February 24, 2014 the Company's transfer agent delivered to Ironridge 10,000,000 ~~Rule~~shares ~~144~~of the Company's common stock. The shares issued to Ironridge are freely tradable and exempt from registration under the Securities Act of 1933 and the California Corporations Code. The number of shares to be issued to Ironridge is subject to adjustment based trading price of the Company's stock such that the value of the shares is sufficient to cover the Claim Amount, a 10% agent fee amount and Ironridge's reasonable legal fees and expenses ( the "Final Amount"). Under the Stipulation Order, Ironridge may not be the beneficial owner of more than 9.99% of the Company's outstanding shares of common stock until the Final Amount is paid. Further Ironridge has agreed not to exercise any voting rights of ~~FormCap~~the shares issued to it nor influence or cause any change in control of the Company.

~~The~~On ~~Company~~March ~~will~~11, ~~own~~2014 Ironridge ~~100%~~paid ofKerr ~~the~~and ~~Leases~~Keta ~~(80%~~$305,000 ~~net~~in ~~revenue~~full toand ~~FormCap;~~final ~~20%~~settlement ~~freehold~~of ~~royalty),~~all ~~and~~monies ~~will~~due bein connection with the ~~operator~~acquisition of 2,400 acres of the Cowley leases. ~~The~~Ironridge ~~Company~~was ~~will~~obligated ~~have~~to provide $367,000 to the ~~option~~Company to ~~purchase~~fund ~~additional~~the ~~leases~~drilling inof ~~Cowley~~two ~~County~~test ~~from~~wells on ~~Kerr~~the ~~and~~Cowley ~~Keta~~lands ~~under~~within an90 ~~Area~~days of ~~Mutual~~the ~~Interest,~~issuance of the ~~terms~~shares of ~~which~~Common ~~are~~stock. ~~set~~On ~~forth~~May in24, ~~the~~2014, ~~Agreement.~~Ironridge ~~FormCap~~defaulted isupon ~~required~~its obligation to ~~drill~~fund ~~one~~the two test ~~well~~wells inand ~~each~~on ofJuly 3, 2014, Ironridge was deregistered. Accordingly, the ~~first~~Company ~~two~~has ~~years~~recorded an impairment of the ~~lease~~obligation ~~term~~of in$367,000 ~~order~~that Ironridge had pledged to ~~maintain~~pay ~~its~~towards ~~interest~~drilling inexpenses ~~the~~for ~~Leases~~Keta and Kerr.

8As at March 31, 2015 the Company has capitalized $516,802 toward the acquisition of the Cowley Leases. (December 31, 2013 - $101,802)

~~FormCap~~NOTE ~~Corp.~~7 - RELATED PARTY PAYABLES

(AThe ~~Development~~Company ~~Stage~~from time to time has borrowed funds from or has received services from several individuals and corporations related to the Company for operating purposes As at March 31, 2015 the Company owed related parties $111,500 (December 31, 2013 - $111,500). These amounts bear no interest, are not collateralized, and are due on demand.

~~Notes~~NOTE to8 - ~~the~~PROMISSORY ~~Condensed~~NOTES ~~Financial Statements~~PAYABLE

~~September~~As 30at March 31, ~~2014~~2015 the Company owed $52,059 to several unrelated third parties (December 31, 2013 - $78,653). These amounts bear no interest, are not collateralized and are due on demand.

~~(Unaudited)~~NOTE 9 - PROMISSORY NOTES PAYABLE – RELATED PARTIES

~~During~~As ~~January~~at ~~2014,~~March ~~Ironridge Global IV~~31, ~~Ltd. ("Ironridge") purchased from Kerr and Keta~~ 2015 the Company’s ~~obligation~~owed ~~in the aggregate amount of~~ $~~671~~111,~~938.90~~500 ~~(the "Claim Amount"). Subsequently, the Company offered~~ to ~~settle~~several ~~the~~related ~~Claim~~parties ~~Amount~~(December ~~by the issuance of unrestricted and fully tradable shares of the Company's common stock. Ironridge accepted the Company's settlement offer~~31, ~~subject~~2013 to- ~~a hearing on the fairness of the settlement terms. On February 21~~$111, 2014, the Company, Ironridge and the CEO of the Company entered into a Stipulation Order for the settlement on the terms agreed on by Ironridge and the Company. On February 21, 2014, a California Superior Court for the County of Los Angeles (the "State Court"500) ~~held a hearing on the fairness of the Company's settlement offer~~ to ~~Ironridge.~~several ~~Pursuant~~third to the court order issued by the State Court on February 21, 2014, the shares of the Company's common stock will be deemed issued in settlement of the claims (subject to certain adjustments based on the future trading value of the stock) when delivered to Ironridgeparties. OnThese ~~February~~amounts ~~24,~~bear no ~~2014 the Company's transfer agent delivered to Ironridge 10~~interest,~~000,000~~ ~~shares of the Company's common stock. The shares issued to Ironridge~~ are ~~freely~~not ~~tradable~~collateralized and ~~exempt~~are ~~from~~due ~~registration~~on ~~under the Securities Act of 1933 and the California Corporations Code~~demand. The number of shares to be issued to Ironridge is subject to adjustment based trading price of the Company's stock such that the value of the shares is sufficient to cover the Claim Amount, a 10% agent fee amount and Ironridge's reasonable legal fees and expenses ( the "Final Amount"). Under the Stipulation Order, Ironridge may not be the beneficial owner of more than 9.99% of the Company's outstanding shares of common stock until the Final Amount is paid. Further Ironridge has agreed not to exercise any voting rights of the shares issued to it nor influence or cause any change in control of the Company.

OnNOTE ~~March~~10 - ~~11,~~CONVERTIBLE ~~2014~~PROMISSORY NOTES Ironridge paid Kerr and Keta $305,000 in full and final settlement of all monies due in connection with the acquisition of 2,400 acres of the Cowley leases. Ironridge was obligated to provide $367,000 to the Company to fund the drilling of two test wells on the Cowley lands within 90 days of the issuance of the shares of Common stock. On May 24, 2014, Ironridge defaulted upon its obligation to fund the two test wells and on July 3, 2014, Ironridge was deregistered. Accordingly, the Company has recorded an impairment of the obligation of $367,000 that Ironridge had pledged to pay towards drilling expenses for Keta and Kerr.PAYABLE

As at ~~September~~March 3031, ~~2014~~ 2015, the Company ~~has~~owed ~~capitalized~~ $~~516~~135,~~802~~650 ~~toward~~to the ~~acquisition~~holders of the ~~Cowley~~Convertible ~~Leases.~~Promissory notes (December 31, 2013 - $~~101~~111,~~802~~800)

~~NOTE~~The 7promissory notes are non-interest ~~RELATED~~bearing ~~PARTY~~until ~~PAYABLES~~maturity and bear interest at 3% per annum thereafter. The Promissory notes will become due and payable if the Company receives financing totalling $5,000,000 in aggregate prior to the maturity date. The promissory notes are convertible into common shares of the Company either in whole or in part at the option of the Holders.

The Company from time to time has borrowed funds from or has received services from several individuals and corporations related to the Company for operating purposes As at September 30, 2014 the Company owed related parties $111,500 (December 31, 2013 - $111,500). These amounts bear no interest, are not collateralized, and are due on demand. 9

~~NOTE~~FormCap ~~8 - PROMISSORY NOTES PAYABLE~~Corp.

~~As at September 30, 2014 the Company owed $75,653 to several unrelated third parties~~ (~~December~~A ~~31,~~Development ~~2013 - $78,653~~Stage Company)~~. These amounts bear no interest, are not collateralized and are due on demand.~~

~~NOTE~~Notes ~~9 -~~to ~~PROMISSORY~~the ~~NOTES~~Condensed Financial ~~PAYABLE – RELATED PARTIES~~Statements

AsMarch ~~at September 30, 2014 the Company owed $111,500 to several related parties (December~~ 31, ~~2013 - $111,500) to several third parties. These amounts bear no interest, are not collateralized and are due on demand.~~2015

~~NOTE 10 - CONVERTIBLE PROMISSORY NOTES PAYABLE~~(Unaudited)

OnNOTE ~~January~~11 - ~~23,~~CONVERTIBLE ~~2014,~~PROMISSORY NOTES anPAYABLE ~~unrelated~~– ~~third~~RELATED party paid Kerr and Keta a further $50,000 in connection with the acquisition of the Cowley leases. On that date the Company issued a promissory note in the amount of $50,000 to the unrelated third party.PARTY

OnAs ~~February~~at 28March 31, ~~2014~~ 2015, the Company ~~issued~~owed ~~a promissory note in the amount of~~ $11113,~~000~~490 to anrelated ~~unrelated~~ party. ~~The~~holders ~~note~~of ~~matures~~Convertible onPromissory Notes (December 31, ~~2015~~2013 - $48,990)

AsThe promissory notes are non-interest bearing until maturity and bear interest at ~~September~~3% ~~30,~~per ~~2014,~~annum thereafter. The Promissory notes will become due and payable if the Company ~~owed~~receives financing totalling $~~182~~5,~~800~~000,000 in aggregate prior to the ~~holders~~maturity date. The promissory notes are convertible into common shares of the ~~Convertible~~Company ~~Promissory~~either ~~notes~~in ~~(December~~whole ~~31,~~or ~~2013~~in -part ~~$111,800)~~at the option of the Holder

~~The~~NOTE ~~promissory~~12 ~~notes are non~~-~~interest~~ ~~bearing~~COMMON until maturity and bear interest at 3% per annum thereafter. The Promissory notes will become due and payable if the Company receives financing totalling $5,000,000 in aggregate prior to the maturity date. The promissory notes are convertible into common shares of the Company either in whole or in part at the option of the Holders.STOCK

The Company has two classes of stock authorized as of March 31, 2015. The Company has 50,000,000 shares of preferred stock authorized with no shares outstanding as of March 31, 2015 and December 31, 2014. The Company also has 200,000,000 shares of common stock authorized with 88,841,833 shares issued and outstanding as of March 31, 2015 (December 31, 2013 – 9,823,824)

~~FormCap~~On ~~Corp~~July 31, 2014, the Company effected a 1 for 10 reverse stock split. All references in these financial statements to number of common shares issued and outstanding, price per share and weighted average number of common shares have been adjusted to reflect the stock split on a retroactive basis, unless otherwise noted. The Company’s authorized preferred stock and authorized common stock remain unchanged.

(AOn ~~Development~~February ~~Stage~~24, 2014, the Company) issued 1,000,000 shares of common stock in connection with the purchase of the Cowley leases which were valued at $2,310,000. The Company recognized a loss of $2,005,000 on this transaction.

~~Notes~~On August 27, 2014, the Company entered in to a contract for financial consulting and advisory services for a six month term, expiring on January 27, 2015. The Company agreed to issue 500,000 restricted shares as compensation to the ~~Condensed~~consultants ~~Financial~~which ~~Statements~~were valued using fair market value of the stock price on that date for a total compensation expense of $54,950.

~~September~~On 30August 27, 2014, the Company entered in a debt settlement agreement with a related party. The Company agreed to settle a debt of $10,000 by the issuance of 50,000,000 shares of common stock with a fair value of $5,495,000. The Company recorded a loss of $5,485,000 on this transaction.

~~(Unaudited)~~On September 3, 2014, the Company entered into an escrow agreement with a creditor. The Company agreed to pay the creditor $2,500 upon the signing of the agreement and to issue 75,000 shares to be held in escrow. The Company is obligated to pay the creditor a further $7,514 forty five days after the Company’s stock becomes DWAC-eligible. Upon payment of the final amount owing the shares will be returned to the Company. The company has not yet paid the creditor and the shares remain in escrow.

~~NOTE~~On ~~11 -~~December ~~CONVERTIBLE~~4, ~~PROMISSORY~~2014, ~~NOTES~~the ~~PAYABLE~~Company –entered in ~~RELATED~~an ~~PARTY~~Assignment of Creditors and Settlement of Debt agreement. The Company agreed to settle Convertible Promissory Notes Payable in the amount of $62,000 and Notes Payable in the amount of $26,594 by the issuance of 28,000,000 shares of common stock valued at $532,000. The Company recorded a loss of $471,406 on this transaction.

OnDuring ~~January 2,~~ 2014, athe ~~related~~company ~~party~~determined ~~paid~~that the ~~Kerr and Keta a further~~ $5017,~~000~~00 insubscription ~~connection~~receivable ~~with~~for ~~the~~shares ~~acquisition~~issued ofin ~~the~~2007 ~~Cowley~~was ~~leases~~uncollectible. OnThe ~~that~~resulting ~~date~~write-off ~~the~~of ~~Company~~this ~~issued~~amount ahas ~~promissory~~been recorded ~~note~~ in ~~the~~loss ~~amount~~on settlement of ~~$50,000 to the related party~~debt.

OnNOTE ~~May~~13 - ~~19,~~SUBSEQUENT ~~2014 a related party paid certain creditors $7,000. On that date the Company issued a promissory note in the amount of $7,000 to the related party.~~EVENTS

OnThe ~~July~~Company ~~28,~~has ~~2014~~evaluated subsequent ~~the~~events ~~Company~~from ~~issued~~the abalance ~~promissory~~sheet ~~note~~date inthrough the ~~amount~~date ofthe ~~$5,000~~financial tostatements awere ~~related~~issued ~~party.~~and ~~The~~has ~~note~~determined ~~matures~~that onthere are ~~December~~no ~~31,~~items ~~2015~~to disclose.

~~On August 11, 2014 a related party paid a certain creditor $2,500. On that date the Company issued a promissory note in the amount of $2,500 to the related party.~~10

AsItem at2. ~~September~~Management’s ~~30,~~Discussion ~~2014,~~and ~~the~~Analysis ~~Company~~of ~~owed~~Financial ~~$113,490~~Condition toand ~~related~~Results ~~party holders~~ of ~~Convertible Promissory Notes (December 31, 2013 - $48,990)~~Operations

The ~~promissory~~following ~~notes~~discussion of ~~are~~our ~~non-interest~~financial ~~bearing~~condition ~~until~~and ~~maturity~~results of operations should be read in conjunction with the financial statements and ~~bear~~notes ~~interest~~thereto and atthe 3%other ~~per~~financial ~~annum~~information ~~thereafter~~included elsewhere in this report. ~~The~~Certain ~~Promissory~~statements ~~notes~~contained ~~will~~in ~~become~~this ~~due~~report, ~~and~~including, without ~~payable~~limitation, ifstatements containing the ~~Company~~words ~~receives~~“believes,” ~~financing~~“anticipates,” ~~totalling~~“expects” $5and words of similar import,~~000,000~~ inconstitute ~~aggregate~~“forward ~~prior~~looking tostatements” within the ~~maturity~~meaning ~~date~~of the Private Securities Litigation Reform Act of 1995. ~~The~~Such ~~promissory~~forward-looking ~~notes~~statements ~~are~~involve ~~convertible~~known ~~into~~and ~~common~~unknown ~~shares~~risks ofand ~~the~~uncertainties. ~~Company~~Our ~~either~~actual results may differ materially from those anticipated in ~~whole~~these forward-looking statements as a result of certain factors, including our ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in ~~part~~our atbusiness ~~the~~strategy or ~~option~~development ofplans; ~~the~~competition; ~~Holder~~business disruptions; adverse publicity; and international, national and local general economic and market conditions.

~~NOTE 12 - COMMON STOCK~~Overview

The Company ~~has~~does not ~~two~~currently ~~classes~~engage ofin ~~stock~~any ~~authorized~~business asactivities ofthat ~~September~~provide ~~30,~~cash ~~2014~~flow. The Company ~~has~~is ~~50,000,000~~currently ~~shares~~in ofthe ~~preferred~~development ~~stock authorized with no shares outstanding as of September 30, 2014 and December 31, 2013~~stage. ~~The Company also has 200,000,000 shares of common stock authorized with 10,229,346 shares issued and outstanding as of September 30, 2014 (December 31, 2013 – 9,823,824)~~

On ~~July~~September 3130, 2013 ~~2014,~~ the Company ~~effected~~executed a 1Definitive ~~for~~Agreement 10with: ~~reverse~~Kerr ~~stock~~Energy ~~split.~~Group ~~All~~and ~~references~~Keta inOil ~~these~~& ~~financial~~Gas ~~statements~~LLC to(Kerr ~~number of common shares issued~~ and ~~outstanding,~~Keta) ~~price~~both ~~per~~incorporated in ~~share and weighted average number of common shares have been adjusted to reflect the stock split on a retroactive basis~~Wichita, ~~unless otherwise noted~~Kansas. ~~The Company’s authorized preferred stock and authorized common stock remain unchanged.~~

~~During~~Pursuant to the ~~nine~~terms of ~~months~~the ~~ended~~Agreement ~~September~~the ~~30,~~Company ~~2014,~~paid Kerr and Keta a non-refundable deposit in the ~~Company~~amount ~~issued~~of 1$25,000~~,000~~ ~~shares~~(the “Deposit”) to be applied to the purchase price of ~~common~~oil ~~stock~~leases to be purchased by FormCap, in ~~connection~~Cowley ~~with~~County ~~the~~Kansas. ~~purchase~~The Company will also issue Kerr and Keta a total of ~~the~~200,000 ~~Cowley~~Rule ~~leases~~144 shares of FormCap.

OnIn ~~August 27~~addition, ~~2014,~~ the Company ~~entered~~agreed in to apay ~~contract~~Kerr ~~for~~and ~~financial~~Keta ~~consulting~~two ~~and~~hundred ~~advisory~~dollars ~~services~~($200.00) per acre for aup ~~six~~to ~~month~~1,500 ~~term~~acres of Leases, ~~expiring~~at ontotal ~~January~~cost 27not to exceed $300,000 ~~2015~~within 30 days of execution of the Agreement, subject to final due diligence by the Company. The Company ~~agreed~~will own 100% of the Leases (80% net revenue to ~~issue~~FormCap; ~~500~~20% freehold royalty),~~000~~ ~~restricted~~and ~~shares~~will asbe ~~compensation~~the operator. The Company will have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual Interest, the ~~consultants~~terms of which are ~~was~~set ~~valued~~forth ~~using~~in ~~fair~~the ~~market~~Agreement. ~~value~~FormCap is required to drill one well in each of the ~~stock~~first ~~price~~two onyears ~~that~~of ~~date~~the ~~for~~lease aterm ~~total~~to ~~compensation~~maintain its ~~expense~~interest ofin ~~$54,950~~the Leases.

OnThe ~~August~~Company ~~27,~~will also ~~2014,~~have the ~~Company~~option ~~entered~~to participate in athe ~~debt~~drilling ~~settlement~~of ~~agreement~~up ~~with~~to asix ~~related~~exploration ~~party.~~or ~~The~~development ~~Company~~wells ~~agreed~~on tolands ~~settle~~currently aowned ~~debt of $10,000~~ by Keta ~~the~~and ~~issuance~~Kerr ofunder ~~50,000,000~~terms ~~shares~~set ofout ~~common~~in ~~stock.~~the ~~The Company recorded a loss of $5,495,000 on this transaction~~agreement.

On ~~September~~October 328, ~~2014~~2013 the Company, and Kerr and Keta agreed to extend the ~~Company~~closing ~~entered~~date ~~into~~for anthe ~~escrow~~purchase ~~agreement~~of ~~with~~the aoil ~~creditor~~exploration leases to January 15, 2014. The Company ~~agreed~~is to pay ~~the~~Kerr ~~creditor~~and Keta $250,~~500~~000 ~~upon~~on ~~the~~or ~~signing~~before ofNovember ~~the~~15, ~~agreement~~2013, $50,000 on or before December 15 2013 and the remaining balance to ~~issue~~a 75maximum of $200,000 ~~shares~~by January 14, 2014. These funds to be held in ~~escrow.~~trust ~~The~~and ~~Company~~applied istoward ~~obligated~~the toacquisition purchase ~~pay~~price ~~the~~payable ~~creditor~~on aJanuary ~~further $7~~15,~~514~~ ~~forty~~2014. ~~five~~In ~~days~~addition, ~~after~~ the Company’s ~~stock~~has ~~becomes~~agreed ~~DWAC-eligible.~~to ~~Upon~~issue ~~payment~~200,000 ofRule ~~the~~144 ~~final~~shares ~~amount~~in ~~owing~~ the ~~shares will be returned~~ company to ~~the~~Kerr ~~Company~~and Keta.

~~The~~On ~~Company~~November ~~did~~7, ~~not~~2013 ~~issue~~the ~~any~~Board ~~shares~~ of ~~common~~Directors approved ~~stock~~the ~~during~~issuance ~~the~~of ~~three~~200,000 ~~month~~Rule ~~period~~144 ~~ended~~shares ~~September~~to ~~30,~~Kerr ~~2013~~and Keta.

~~NOTE~~During ~~13 -~~January ~~SUBSEQUENT~~2014, ~~EVENTS~~Ironridge Global IV, Ltd. ("Ironridge") purchased from Kerr and Keta the Company’s obligation in the aggregate amount of $671,938.90 (the "Claim Amount"). Subsequently, the Company offered to settle the Claim Amount by the issuance of unrestricted and fully tradable shares of the Company's common stock. Ironridge accepted the Company's settlement offer, subject to a hearing on the fairness of the settlement terms. On February 21, 2014, the Company, Ironridge and the CEO of the Company entered into a Stipulation Order for the settlement on the terms agreed on by Ironridge and the Company. On February 21, 2014, a California Superior Court for the County of Los Angeles (the "State Court") held a hearing on the fairness of the Company's settlement offer to Ironridge. Pursuant to the court order issued by the State Court on February 21, 2014, the shares of the Company's common stock will be deemed issued in settlement of the claims (subject to certain adjustments based on the future trading value of the stock) when delivered to Ironridge. On February 24, 2014 the Company's transfer agent delivered to Ironridge 10,000,000 shares of the Company's common stock. The shares issued to Ironridge are freely tradable and exempt from registration under the Securities Act of 1933 and the California Corporations Code. The number of shares to be issued to Ironridge is subject to adjustment based trading price of the Company's stock such that the value of the shares is sufficient to cover the Claim Amount, a 10% agent fee amount and Ironridge's reasonable legal fees and expenses ( the "Final Amount"). Under the Stipulation Order, Ironridge may not be the beneficial owner of more than 9.99% of the Company's outstanding shares of common stock until the Final Amount is paid. Further Ironridge has agreed not to exercise any voting rights of the shares issued to it nor influence or cause any change in control of the Company.

~~The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no items to disclose.~~11

10On March 11, 2014 Ironridge paid Kerr and Keta $305,000 in full and final settlement of all monies due in connection with the acquisition of 2,400 acres of the Cowley leases. Ironridge is obligated to provide $367,000 to the Company to fund the drilling of two test wells on the Cowley lands.

~~Item~~On 2May 27, 2014 the Company announced that that a drilling contract had been executed between Val Energy Inc., ~~Management~~and FormCap’s ~~Discussion~~operator, Tiger ~~and~~Oil ~~Analysis~~& Gas LLC to commence drilling on the 2,400 acres of ~~Financial~~prospective ~~Condition~~oil and ~~Results~~gas leases owned by the Company in Cowley County, Kansas, and submitted a Notice of ~~Operations~~Intent to Drill to the Kansas Corporation Commission.

~~The~~During ~~following~~June ~~discussion~~2014, Ironridge ofdefaulted ~~our~~upon ~~financial~~its ~~condition~~obligation ~~and~~to ~~results~~fund ~~of operations should be read in conjunction with~~ the ~~financial~~drilling ~~statements~~program and ~~notes~~on ~~thereto~~July ~~and~~3, ~~the~~2014, ~~other~~Ironridge ~~financial~~was ~~information included elsewhere in this report~~deregistered. ~~Certain~~On ~~statements contained in this report~~July 10, ~~including,~~2014 ~~without limitation, statements containing~~ the ~~words~~Company ~~“believes,”~~announced ~~“anticipates,”~~that ~~“expects” and words of similar import, constitute “forward looking statements” within~~ the ~~meaning~~drilling ofprogram ~~the~~had ~~Private~~been ~~Securities~~postponed ~~Litigation Reform Act of 1995. Such forward-looking statements involve known~~ and ~~unknown~~on ~~risks~~August ~~and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors~~1, ~~including~~2014 ~~our~~the ~~ability~~Intent to ~~create,~~Drill sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business strategy or development plans; competition; business disruptions; adverse publicity; and international, national and local general economic and market conditionslicence expired.

~~Overview~~On May 23, 2014 a majority of the shareholders consented to a reverse stock split in the ratio of 1 new share for every 10 old shares held by shareholders. The reverse stock split is expected to take effect on or about July 31, 2014.

~~The~~On ~~Company~~June ~~does~~19, ~~not~~2014 Mr. ~~currently~~Graham ~~engage~~Douglas inresigned ~~any~~as ~~business~~Director, Principal ~~activities~~Executive ~~that~~Officer, ~~provide~~Principal ~~cash~~Financial ~~flow~~Officer and Principal Accounting Officer. ~~The~~On ~~Company~~June is20 ~~currently~~2014, inMr. ~~the~~Brad ~~development~~Moynes ~~stage~~was appointed to succeed Mr. Douglas in those positions.

OnResults ~~September~~of ~~30,~~Operations for ~~2013~~ the ~~Company~~Three ~~executed~~Months aEnded ~~Definitive~~March ~~Agreement~~31, ~~with:~~2015 ~~Kerr Energy Group~~ and ~~Keta Oil & Gas LLC (Kerr and Keta) both incorporated in Wichita, Kansas~~2014.

~~Pursuant~~Revenues. toThere ~~the~~was no ~~terms~~revenue offor the ~~Agreement~~three ~~the~~months ~~Company~~ended ~~paid~~March ~~Kerr and Keta a non-refundable deposit in the amount of $25~~31,~~000~~ ~~(the “Deposit”) to be applied to the purchase price of oil leases to be purchased by FormCap, in Cowley County Kansas~~2015. ~~The Company will also issue Kerr and Keta a total of 200,000 Rule 144 shares of FormCap.~~

InOperating ~~addition,~~Expenses. For the ~~Company~~three ~~agreed~~months toended ~~pay~~March ~~Kerr and Keta two hundred dollars ($200.00) per acre for up to 1~~31,~~500~~ ~~acres of Leases~~2015, atwe had total ~~cost~~operating ~~not~~expenses toof ~~exceed~~ $~~300~~10,~~000~~207; ~~within~~as 30compared ~~days~~with ofoperating ~~execution~~expenses of ~~the Agreement~~ $17,715 ~~subject~~for ~~to final due diligence by~~ the ~~Company.~~three ~~The~~months ~~Company~~ended ~~will~~March ~~own 100% of the Leases (80% net revenue to FormCap; 20% freehold royalty)~~31, ~~and will be the operator~~2014. The Company will have the option to purchase additional leases in Cowley County from Kerr and Keta under an Area of Mutual Interest, the terms of which are set forth in the Agreement. FormCap is required to drill one well in each of the first two years of the lease term to maintain its interest in the Leases.

~~The~~Filing ~~Company~~and ~~will~~Transfer agent’s ~~also~~expense. ~~have~~Filing ~~the~~and ~~option~~Transfer toagent’s ~~participate~~expense indecreased ~~the~~by ~~drilling~~$2,013 offrom up$2,013during tothe ~~six~~three ~~exploration~~months orended March ~~development~~31, ~~wells~~2014 onto ~~lands~~$0 ~~currently~~for ~~owned~~the bythree ~~Keta~~months ~~and~~ended ~~Kerr~~March ~~under~~31, ~~terms set out in the agreement~~2015.

On October 28, 2013 the Company, and Kerr and Keta agreed to extend the closing date for the purchase of the oil exploration leases to January 15, 2014. The Company is to pay Kerr and Keta $50,000 on or before November 15, 2013, $50,000 on or before December 15 2013 and the remaining balance to a maximum of $200,000 by January 14, 2014. These funds to be held in trust and applied toward the acquisition purchase price payable on January 15, 2014. In addition, the Company has agreed to issue 200,000 Rule 144 shares in the company to Kerr and Keta.12

OnInterest ~~November~~Expense: There 7,was ~~2013~~no interest expense for the ~~Board~~three ofmonths ~~Directors~~ending ~~approved~~March ~~the~~31, ~~issuance~~2015 ofand ~~200~~2014,~~000~~ ~~Rule~~respectively, ~~144~~as ~~shares~~the toliabilities ~~Kerr~~of ~~and~~the ~~Keta~~Company bear no interest.

~~During~~Net ~~January~~Loss: ~~2014,~~The ~~Ironridge~~net losses ~~Global~~for ~~IV, Ltd. ("Ironridge") purchased from Kerr and Keta~~ the ~~Company’s~~three ~~obligation~~months inended ~~the~~March ~~aggregate~~31, ~~amount~~2015 ofwas $~~671~~10,~~938.90 (the "Claim Amount"). Subsequently~~207, ~~the~~as ~~Company~~compared ~~offered~~with tonet ~~settle~~losses ~~the Claim Amount by the issuance~~ of ~~unrestricted and fully tradable shares of the Company's common stock. Ironridge accepted the Company's settlement offer~~$1, ~~subject to a hearing on the fairness of the settlement terms. On February 21~~655,715 ~~2014, the Company, Ironridge and the CEO of the Company entered into a Stipulation Order~~ for the ~~settlement~~three onmonths ~~the~~ended March ~~terms agreed on by Ironridge and the Company. On February 21~~31, 2014, arepresenting ~~California~~decreases ~~Superior Court for the County~~ of ~~Los Angeles (the "State Court") held a hearing on the fairness of the Company's settlement offer to Ironridge. Pursuant to the court order issued by the State Court on February 21~~$1, ~~2014~~645, ~~the shares of the Company's common stock will be deemed issued in settlement of the claims (subject to certain adjustments based on the future trading value of the stock) when delivered to Ironridge~~508. On February 24, 2014 the Company's transfer agent delivered to Ironridge 10,000,000 shares of the Company's common stock. The shares issued to Ironridge are freely tradable and exempt from registration under the Securities Act of 1933 and the California Corporations Code. The number of shares to be issued to Ironridge is subject to adjustment based trading price of the Company's stock such that the value of the shares is sufficient to cover the Claim Amount, a 10% agent fee amount and Ironridge's reasonable legal fees and expenses ( the "Final Amount"). Under the Stipulation Order, Ironridge may not be the beneficial owner of more than 9.99% of the Company's outstanding shares of common stock until the Final Amount is paid. Further Ironridge has agreed not to exercise any voting rights of the shares issued to it nor influence or cause any change in control of the Company.

11Loss on settlement of Debt: During the three months ended March 31, 2015, the Company recognized no loss on the settlement of Debt. During the three months ended March 31, 2014 the Company recognized losses in the amount of $1,638,000.

OnLiquidity ~~March 11, 2014 Ironridge paid Kerr~~ and Capital Keta $305,000 in full and final settlement of all monies due in connection with the acquisition of 2,400 acres of the Cowley leases. Ironridge is obligated to provide $367,000 to the Company to fund the drilling of two test wells on the Cowley lands.Resources

OnAs ~~May~~at 27March 31, ~~2014~~2015, our ~~the~~current ~~Company~~assets ~~announced~~were ~~that~~$15,111 ~~that~~and aour ~~drilling~~current ~~contract~~liabilities ~~had~~were ~~been executed between Val Energy Inc.~~$674, ~~and FormCap’s operator~~608, ~~Tiger~~resulting ~~Oil~~in &a ~~Gas~~working ~~LLC~~capital todeficit ~~commence drilling on the 2,400 acres~~ of ~~prospective oil and gas leases owned by the Company in Cowley County~~$659, ~~Kansas~~497, as ~~and~~compared ~~submitted~~with a ~~Notice~~working ofcapital ~~Intent~~deficit toof ~~Drill~~$649,290 toat ~~the~~December ~~Kansas~~31, ~~Corporation Commission~~2014.

~~During~~Total ~~June~~Stockholders’ Deficit ~~2014,~~increased ~~Ironridge~~from ~~defaulted~~$649,290 ~~upon~~at ~~its~~December ~~obligation to fund the drilling program and on July 3~~31, 2014, ~~Ironridge~~to ~~was deregistered. On July 10~~$659,497 ~~2014~~as ~~the~~at ~~Company~~March ~~announced that the drilling program had been postponed and on August 1~~31, ~~2014 the Intent to Drill licence expired~~2015.

OnCash ~~May~~Flows ~~23, 2014 a majority of the shareholders consented to a reverse stock split in the ratio of 1 new share for every 10 old shares held~~ Generated by ~~shareholders.~~Operating ~~The reverse stock split is expected to take effect on or about July 31, 2014.~~Activities

OnFor ~~June~~the ~~19,~~three ~~2014~~months ended ~~Mr.~~March ~~Graham Douglas resigned as Director~~31, ~~Principal Executive Officer~~2015, ~~Principal~~net ~~Financial~~cash ~~Officer~~flows ~~and~~used ~~Principal~~in ~~Accounting~~operating ~~Officer.~~activities ~~On June 20 2014, Mr. Brad Moynes~~ was ~~appointed to succeed Mr~~$212. ~~Douglas in those positions.~~

~~Results~~Cash ofFlow ~~Operations~~Provided by ~~for~~Financing ~~the Three and Nine Months Ended September 30, 2014 and 2013.~~Activities

~~Revenues. There was no revenue for the three and nine months ended September 30, 2014 and 2013, respectively.~~None

~~Operating~~Off-Balance Expenses. For the three months and nine months ended September 30, 2014, we had total operating expenses of $446,011 and $475,700 respectively; as compared with operating expenses of $949 and $30,835 for the three months and nine months ended September 30, 2013, respectively, representing increases in operating expenses of $445,062 for the three months ended September 30, 2014 and an increase of $444,865 for the nine months ended on that date, respectively, as compared with the corresponding periods in 2013Sheet Arrangements

~~Accounting~~We ~~and~~do ~~Audit~~not ~~and~~have ~~review~~any off-balance ~~fees.~~sheet ~~Accounting~~arrangements ~~and~~that ~~Audit~~have ~~and~~or ~~review~~are ~~fees~~reasonably ~~amounted~~likely to ~~$5,500~~have ~~for~~a ~~the~~current ~~three~~or ~~ended~~future ~~September~~effect ~~30,~~on ~~2014,~~our asfinancial ~~compared with $3~~condition,~~000~~ changes ~~for the three months ended September 30, 2013. The increase~~ in ~~this~~financial ~~category of expenditure resulted from additional accruals made during the current period in respect of professional fees. Accounting and Audit and review fees increased by $7~~condition,~~220~~ ~~from~~revenues ~~$22,030~~or ~~for the nine months ended September 30~~expenses, ~~2013~~results toof ~~$29~~operations,~~250~~ ~~for the nine months ended September 30~~liquidity, ~~2014~~capital asexpenditures aor ~~result~~capital ofresources that ~~the~~is ~~additional~~material ~~accruals and additional work related~~ to ~~the Ironridge financing~~investors.

Filing and Transfer agent’s expense. Filing and Transfer agent’s expense increased by $4,410 from $1,990 during the three months ended September 30, 2013 to $6,400 for the three months ended September 30, 2014. For the nine months ended September 30, 2014 this category of expense amounted to $8,800, representing an increase of $1,674 from the $7,126 expended during the nine months ended September, 2013. The increases in expenditure during the three and nine months periods ended September 30, 2014 resulted from general corporate activity and additional charges in connection with the reverse split of the Company’s Common Stock on July 31, 2014.13

~~Impairment~~Recent of Asset. During the three months ended September 30, 2014, Ironridge defaulted upon its obligation to finance the drilling of two test wells on the leased properties. Accordingly the Company recorded an impairment in full of the Other Receivable in the amount of $367,000 (three and nine months ended September 30, 2013 - $Nil).Accounting Pronouncements

~~Consulting.~~For ~~During~~ the three ~~months~~month period ended ~~September~~March 3031, ~~2014~~2015, ~~the~~there ~~Company~~were ~~entered~~no ~~into~~accounting anstandards ~~agreement~~or interpretations ~~for~~issued ~~the~~that ~~provision~~are ofexpected ~~financial~~to ~~consulting~~have ~~and advisory services and issued common stock with~~ a ~~fair~~material impact ~~value~~on ofour ~~$54,950~~financial ~~in connection therewith (three and nine months ended September 30~~position, ~~2013~~operations -or ~~$Nil)~~cash flows.

12Item 3. Quantitative and Qualitative Disclosures about Market Risk

~~Management~~As ~~fees.~~a ~~During~~“smaller reporting ~~the~~company” ~~three~~(as ~~and~~defined ~~nine months ended September 30, 2014 the Company paid management fees to related parties~~ in ~~the~~Item ~~amounts~~10(f)(1) of ~~$10,000~~Regulation ~~and $13~~S-K),~~000,~~ ~~respectively.~~our ~~The~~ Company ~~did~~is not ~~incur~~required ~~management~~to ~~fees~~provide ~~during~~information ~~the~~required by ~~three~~this ~~and nine months ended September 30, 2013~~Item.

~~Foreign~~Item ~~Exchange~~4. ~~The~~Controls Company recognized a loss on foreign exchange transactions of $384 for the nine months ended September 30, 2014 as compared with a loss on foreign exchange of $637 for the nine months ended September 30, 2013. These losses arose as a result of fluctuations in the exchange rates between the US Dollar and ~~foreign currencies.~~Procedures

~~Interest~~As ~~Expense:~~required ~~There~~by ~~was~~Rule 13a-15 nounder ~~interest~~the ~~expense~~Securities ~~for~~Exchange Act of 1934, as amended (the ~~three~~“Exchange Act”), we have carried out an evaluation of the effectiveness of the design and ~~nine~~operation ~~months~~of ~~ending~~our ~~September~~Company's 30disclosure controls and procedures as of the end of the period covered by this quarterly report, ~~2014~~being March 31, 2015. This evaluation was carried out under the supervision and ~~2013~~with the participation of our Company's management, ~~respectively~~including our President, Principal Executive Officer and Principal Financial Officer. Based upon that evaluation, our President, Principal Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures are not effective as of the ~~liabilities~~end of the ~~Company~~period ~~bear~~covered noby ~~interest~~this report due to the material weaknesses described in Management's Report on Internal Control over Financial Reporting included in our annual report on Form 10-K for the year ended December 31, 2013.

~~Net~~There ~~Loss:~~have ~~The~~been ~~net~~no significant ~~losses~~changes ~~for~~in our Company's internal controls or in other factors, which could significantly affect internal controls subsequent to the ~~three~~date we carried out our evaluation. Disclosure controls and ~~nine~~procedures ~~months~~are ~~ended~~controls ~~September30,~~and ~~2014~~other ~~were~~procedures $5that are designed to ensure that information required to be disclosed in our Company's reports filed or submitted under the Exchange Act is recorded,~~931~~ processed,~~010~~ summarized and $7reported,~~598,700~~ ~~respectively,~~within asthe ~~compared~~time ~~with~~periods ~~net~~specified ~~losses~~in ofthe ~~$959~~Securities and $2Exchange Commission's rules and forms. Disclosure controls and procedures include,~~304,845~~ ~~for~~without ~~the~~limitation, ~~three~~controls and ~~nine~~procedures designed ~~months~~to ~~ended~~ensure that ~~September~~information ~~30,~~required ~~2013,~~to ~~respectively,~~be ~~representing~~disclosed ~~decreases~~in ofour ~~$5,930,051~~Company's ~~for~~reports filed under the ~~three~~Exchange ~~months~~Act ~~ended~~is ~~June~~accumulated 30and communicated to management, ~~2014~~including our Company's president and ~~$5,293,855~~Principal ~~for~~Executive ~~the~~Officer ~~nine~~as ~~months~~appropriate, ~~ended~~to onallow ~~that~~timely ~~date~~decisions regarding required disclosure.

~~Loss~~There onhave ~~settlement~~been ofno changes ~~Debt: During the three months ended September 30, 2014, the Company recognized a loss~~ in ~~the~~our ~~amount~~internal ofcontrols ~~$5,485,000~~over infinancial ~~connection~~reporting ~~with the settlement of a debt with a related party. Additionally,~~ during the ~~nine~~most ~~months~~recently ~~ended~~completed ~~September~~fiscal ~~30,~~quarter ~~2014,~~that ~~the~~have ~~Company~~materially affected ~~recognized~~or aare ~~loss~~reasonably inlikely ~~the~~to ~~amount~~materially ofaffect ~~$1,638,000 in connection with~~ the ~~Ironridge transaction. During the nine months ended September 30, 2013 the~~ Company’s ~~recognized~~internal ~~losses~~control inover ~~the~~financial ~~amount of $2,274,000 in connection with the settlement of certain debts~~reporting.

~~Liquidity and Capital Resources~~14

AsPART ~~at September 30, 2014, our current assets were $9,401 (December 31, 2013~~ II - OTHER $10,176) and our current liabilities were $740,215 (December 31, 2013 - $587,240), resulting in a working capital deficit of $730,814 as at September 30, 2014, as compared with a working capital deficit of $577,064 at December 31, 2013.INFORMATION

~~Total~~Item ~~Stockholders’~~1. ~~Deficit~~Legal ~~decreased from $475,262 at December 31, 2013 to $213,012 as at September 30, 2014.~~Proceedings

~~Cash Flows Generated by Operating Activities~~None.

~~For~~Item ~~the~~1A. ~~nine~~Risk months ended September 30, 2014, net cash flows used in operating activities was $32,911, consisting of cash expended for operations of $43,750, offset by an increase of $10,475in Accounts Payable and Accrued Liabilities and $364 decrease of notes receivable.Factors

~~Cash~~As ~~Flow~~a ~~Provided~~“smaller reporting company” (as defined in Item 10(f)(1) of Regulation S-K), our Company is not required to provide information required by ~~Financing~~this ~~Activities~~Item.

WeItem ~~have financed our operations primarily from either advances from related parties or the issuance of equity and debt instruments~~2. ~~During~~Unregistered ~~the~~Sales ~~nine months ended September 30, 2014, we issued convertible promissory notes to lenders in the amount~~ of ~~$14,500~~Equity Securities and ~~repaid~~Use ~~$3,000 to holders~~ of ~~these notes. During this period we issued convertible promissory notes to related parties in the amount of $21,000.~~Proceeds

WeThe ~~expect~~Company ~~that~~did ~~working~~not issue ~~capital~~any ~~requirements~~additional ~~will~~shares ~~continue~~during tothe beyear ~~funded~~ended ~~through~~December ~~further~~31, ~~issuances of securities~~2012.

~~Off-Balance~~On ~~Sheet~~May ~~Arrangements~~16, 2013, 50,000,000 common shares were issued under a debt settlement agreement with a related Party.

WeOn doMay ~~not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition~~20, ~~changes in financial condition~~2013, ~~revenues or expenses~~ 39,999,998 ~~results~~common ofshares ~~operations,~~were ~~liquidity,~~issued ~~capital~~under ~~expenditures~~a ordebt ~~capital~~settlement ~~resources~~agreement ~~that~~with isa ~~material~~related ~~to investors~~Party.

13On November 7, 2013, 200,000 common shares were issued in connection with the acquisition of exploration property leases.

~~Recent~~On ~~Accounting~~February ~~Pronouncements~~24, 2014, 10,000,000 common shares were issued in connection with the acquisition of exploration property leases.

~~For~~On ~~the~~August ~~three month period ended September 30~~27, 2014, 50,000,000 ~~there~~common shares were ~~no accounting standards or interpretations~~ issued ~~that~~under ~~are expected to have~~ a ~~material~~debt ~~impact~~settlement onagreement ~~our~~with ~~financial~~a ~~position,~~related ~~operations or cash flows~~Party.

~~Item~~On 3.August ~~Quantitative~~27, ~~and~~2014, 500,000 ~~Qualitative~~common ~~Disclosures~~shares ~~about~~were ~~Market~~issued ~~Risk~~in connection with a consulting contract entered into with an unrelated third party.

~~As a “smaller reporting company” (as defined in Item 10(f)(1) of Regulation S-K), our Company is not required to provide information required by this Item.~~ 15

Item 43. ~~Controls~~Defaults ~~and~~upon ~~Procedures~~Senior Securities

As required by Rule 13a-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), we have carried out an evaluation of the effectiveness of the design and operation of our Company's disclosure controls and procedures as of the end of the period covered by this quarterly report, being September 30, 2014None. This evaluation was carried out under the supervision and with the participation of our Company's management, including our President, Principal Executive Officer and Principal Financial Officer. Based upon that evaluation, our President, Principal Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures are not effective as of the end of the period covered by this report due to the material weaknesses described in Management's Report on Internal Control over Financial Reporting included in our annual report on Form 10-K for the year ended December 31, 2013.

~~There~~Item ~~have been no significant changes in our Company's internal controls or in other factors, which could significantly affect internal controls subsequent to the date we carried out our evaluation~~4. ~~Disclosure~~Mine ~~controls~~Safety and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our Company's reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our Company's reports filed under the Exchange Act is accumulated and communicated to management, including our Company's president and Principal Executive Officer as appropriate, to allow timely decisions regarding required disclosure.Disclosures

~~There~~Not have been no changes in our internal controls over financial reporting during the most recently completed fiscal quarter that have materially affected or are reasonably likely to materially affect the Company’s internal control over financial reportingapplicable.

14Item 5. Other Information

~~PART II - OTHER INFORMATION~~None

Item 16. ~~Legal Proceedings~~Exhibits

None.

~~Item 1A. Risk Factors~~16

~~As a “smaller reporting company” (as defined in Item 10(f)(1) of Regulation S-K), our Company is not required to provide information required by this Item.~~ SIGNATURES

~~Item~~Pursuant 2.to ~~Unregistered~~the ~~Sales~~ requirements of ~~Equity~~the Securities ~~and~~Exchange ~~Use~~Act of ~~Proceeds~~1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

~~The~~FORMCAP ~~Company~~CORP. ~~did~~/s/ ~~not~~Xianying ~~issue~~Du ~~any~~Xianying ~~additional~~Du ~~shares~~President ~~during~~Dated: ~~the~~October ~~year ended December 31~~15, ~~2012.~~2015

On May 16, 2013, 50,000,000 common shares were issued under a debt settlement agreement with a related Party.

On May 20, 2013, 39,999,998 common shares were issued under a debt settlement agreement with a related Party.

On November 7, 2013, 200,000 common shares were issued in connection with the acquisition of exploration property leases.

On February 24, 2014, 10,000,000 common shares were issued in connection with the acquisition of exploration property leases.

On August 27, 2014, 50,000,000 common shares were issued under a debt settlement agreement with a related Party.

On August 27, 2014, 500,000 common shares were issued in connection with a consulting contract entered into with an unrelated third party.

Item 3. Defaults upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None

Item 6. Exhibits

Exhibit No.		Description
31		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.
32		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.

SIGNATURES

Pursuant to the requirements 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.

FORMCAP CORP. /s/ Brad Moynes Brad Moynes President, Secretary, Treasurer and Director (Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer) Dated: November 15, 2014

Filing Compare · FORMCAP CORP.