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BOPO > SEC Filings for BOPO > Form 10-Q on 22-Oct-2012All Recent SEC Filings




Quarterly Report



Statements made in this 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of
Section 27A of the of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "intends", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events.

Unless the context otherwise requires, The "Company", "we," "us," and "our," refer to (i) BioPower Operations Corporation.; (ii) BioPower Corporation ("BC"),
(iii) Green Oil Plantations Americas, Inc. ("GOP"), and (iv) Global Energy Crops Corporation (GECC) .


BioPower Corporation was incorporated September 13, 2010, in the State of Florida and re-domiciled as BioPower Operations Corporation which was incorporated in the State of Nevada on January 5, 2011.

We are a development stage company and have not yet generated or realized any revenues from business operations. Our auditors have issued a going concern opinion. This means there is substantial doubt that we can continue as an on-going business for the next twelve (12) months unless we obtain additional capital to pay our bills. This is because we have not generated minimal revenues from a consulting agreement and minimal revenues are anticipated until we begin marketing our products to customers. Accordingly, we must raise cash from sources other than revenues generated such as from the proceeds of loans, sale of common shares, advances from related parties and consulting agreements.

From inception (September 13, 2010) to August 31, 2012, the company's business operations have primarily been focused on developing our business plan, developing potential products and biomass projects, becoming a trading public company through an S-1 registration statement, raising money and developing on-line exchanges.

Castor Project

The Company has begun the process to obtain financing for a castor plantation and milling operation to supply castor oil to the U.S.A. and/or international marketplace. We have identified a hybrid seed that we believe may result in high yields per acre. We have identified unique growing protocols that also may enhance the yield of seed thus oil by weight. We have identified engineering firms to prepare both general and site specific engineering for permitting and construction purposes. We have identified the mill equipment to process the seed into oil and the agricultural equipment required to facilitate the growing protocols that have been identified. We are currently working on the development of a long-term (greater than one year) purchase agreement for the sale of castor oil. Although we have discussed various potential sites in the center of Florida, we have not made a final determination of the specific location.

The U.S.A. currently imports almost 100% of the castor oil used as a feedstock into the personal care, pharmaceuticals, polymers and plastics, adhesives, coatings and other specialty chemical markets. The Company proposes to develop a project in Florida to grow proven hybrid castor which can be harvested within 110 days per crop. Given the rainfall, the temperature profile and the nature of the soil, it is anticipated that the land when developed will produce 2.6 to 3.0 metric tons of oil seeds per acre based on two crops per year. We will process the seeds into oil (43% of seed weight) with our own, vertically integrated mill which we consider critical to this project. Based on our ability to obtain financing in this fiscal year, we hope to realize revenues and profits from this operation in 2013.

There can be no assurance the above Castor Project will ever be achieved.

Potential Business Opportunities

Our experienced management team has been reviewing and doing due diligence for biomass products, biofuels production and processes that we believe will provide revenue and profitability for the Company. We may license or acquire such opportunities after we review such opportunities to determine if they meet our potential goals and criteria. There can be no assurance that the Company will ever successfully commence any of the above.

FTZ Exchange, LLC

On June 8, 2012, the Company's Chief Executive Officer contributed 100% of his member interest in FTZ Exchange, LLC, ("FTZ") a 100% wholly owned subsidiary, to the Company for no consideration. FTZ is a licensing company that licenses business know-how and technology to build transaction fee based exchanges for the sale of products and services in vertical markets. FTZ combines on-line and off-line commercial trade strategies with transaction fee based revenue models to create internet exchanges to sell or source products and services to business to business (B2B), business to consumer (B2C) and in some instances (B2B2C) business to business and business to consumer. FTZ exchanges also include government communities.

Health Exchange

FTZ has been in the development stage of a health exchange since January 2012. FTZ currently owns 50% of the Qx Health Exchange with Quture, Inc. ("QUTR"). This exchange is for the sale of health products and services for the communities of health product manufacturers, insurance companies, hospitals, physicians, healthcare providers, medical tourism and patients.

Quture and FTZ have been working jointly to develop the exchange in conjunction with Quture joint venture partners for the backbone. The initial phase requires no investment from Quture or FTZ until the system is proven. Quture and FTZ are in discussions with investors to fund the operations and build out of the exchange. There can be no assurance such funding will ever be achieved or that the Qx Health Exchange will ever be launched.

Capacity Exchange

FTZ has executed a Strategic Alliance with Capacity 360, LLC and Founder Tom Settineri to develop excess capacity transactions through off-line in-house associates. Capacity 360, LLC is a company that assists Global 2000 corporations and other corporations to develop excess capacity strategies to optimize and monetize their unused, under-utilized manufacturing capacities and assets, with the goal of meeting each corporation's strategic goals. Capacity 360's business model increases a corporate return on investment by utilizing excess capacity and realizing economies of scale combined with the development of new channels of distribution for the corporation's products, services and assets. Capacity 360's business model also addresses excess inventories.

The exchange is not necessary for Capacity 360 to generate revenues. FTZ is working with Capacity 360 to develop an on-line exchange which both believe would enhance the transactions and activities of Capacity 360's business and provide for a faster reach into global business development.Capacity 360 and FTZ will seek investors for the capacity exchange. There can be no assurance such funding will ever be achieved or that the capacity exchange will ever be launched.

FTZ Energy Exchange Corporation

FTZ formed FTZ Energy Exchange Corporation on May 14, 2012 as a wholly-owned subsidiary to launch an energy exchange. FTZ will require funding to launch an energy exchange. There can be no assurance such funding will ever be achieved or that the energy exchange will ever be launched.


Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We expect that we will require additional capital to meet our operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

Three Months Ended August 31, 2012 Compared to the Three Months Ended August 31, 2011

The following analysis reflects the condensed consolidated results of operations of BioPower Operations Corporation and its subsidiaries.

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