v2.4.0.6

BALANCE SHEETS (USD $)	Apr. 30, 2012	Jul. 31, 2011
Current assets
Cash	$ 32,665	$ 2,343
Prepaid expenses		550
Total current assets	32,665	2,893
Total assets	32,665	2,893
Current liabilities
Accounts payable and accrued liabilities	16,705	13,525
Note payable and advance-related parties	27,949	27,155
Accrued interest on related party note payable	21,426	19,422
Total current liabilities	66,080	60,102
Total liabilities	66,080	60,102
STOCKHOLDERS' DEFICIT:
Common stock, $0.001 par value, 25,000,000 shares authorized, 3,614,940 and 3,394,940 shares issued and outstanding at April 30, 2012 and July 31, 2011, respectively	3,615	3,395
Additional paid-in capital	200,748	145,968
Subscription receivable	(3,880)	(3,880)
Deficit accumulated during the exploration stage	(233,898)	(202,692)
Total stockholders' deficit	(33,415)	(57,209)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 32,665	$ 2,893

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

VICTORY EAGLE RESOURCES CORP. 10-Q