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Indo Global Exchange(s) Pte, Ltd. - Annual Report: 2012 (Form 10-K)

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

FORM 10-K

(Mark One)

[X] Annual Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the fiscal year ended July 31, 2012

[   ] Transition Report Under Section 13 Or 15(d) Of The Securities Exchange Act Of 1934

For the transition period from _______________ to _______________

COMMISSION FILE NUMBER: 000-53438

CLARIDGE VENTURES, INC.

 (Name of small business issuer in its charter)

NEVADA

000000000

(State or other jurisdiction of incorporation or organization)


(I.R.S. Employer Identification No.)

                 3730-1015-4th Street SW Calgary

                 Alberta T2R 1J4

 


 



(Address of principal executive offices)

(Zip Code)

403-819-0690Issuers telephone number

Securities registered under Section 12(b) of the Exchange Act:

NONE.

Securities registered under Section 12(g) of the Exchange Act:

Shares of Common Stock, $0.001 Par Value Per Share.

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of 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 [X]   No [  

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-X contained in this form, and no disclosure will be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form10-K or any amendment to this Form 10-K.[X]



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


Large accelerated filer ¨

Accelerated filer ¨

Non-accelerated filer ¨ (Do not check if a smaller reporting company)

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.[X] 

State issuers revenues for its most recent fiscal year. $NIL

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of a specified date within the past 60 days.                                                               (See definition of affiliate in Rule 12b-2 of the Exchange Act.):

$65,700

State the number of shares outstanding of each of the issuers classes of common equity, as of the latest practicable date. 8,285,000 common shares issued and outstanding

Transitional Small Business Disclosure Format (check one): Yes [   ]   No [X]
















CLARIDGE VENTURES, INC.

ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED JULY 31, 2012

TABLE OF CONTENTS

 PART I

 

 

 

 

ITEM 1.

 

BUSINESS

 


ITEM 1A.

 

RISK FACTORS

 


ITEM 2.

 

PROPERTIES

 


ITEM 3.

 

LEGAL PROCEEDINGS

 


ITEM 4.

 

SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 


PART II

 

 

 

 

ITEM 5.

 

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

 


ITEM 6.

 

SELECTED FINANCIAL DATA

 


ITEM 7.

 

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 


ITEM 7A.

 

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 


ITEM 8.

 

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

 


ITEM 9.

 

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

 


ITEM 9A.

 

CONTROLS AND PROCEDURES

 


ITEM 9B.

 

OTHER INFORMATION

 


PART III

 

 

 

 

ITEM 10.

 

DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE COMPLIANCE WITH

SECTION 16(a) OF THE EXCHANGE ACT.

 


ITEM 11.

 

EXECUTIVE COMPENSATION

 


ITEM 12.

 

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

 


ITEM 13.

 

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

 


ITEM 14.

 

PRINCIPAL ACCOUNTANT FEES AND SERVICES

 


PART IV

 

 

 

 

ITEM 15.

 

EXHIBITS

 


 

 

SIGNATURES

 


    






PART I

Certain statements contained in this Annual Report on Form 10-K constitute forward-looking statements. These statements, identified by words such as plan, anticipate, believe, estimate, should, expect, and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from those described in the forward-looking statements. Such risks and uncertainties include those set forth under the caption Managements Discussion and Analysis or Plan of Operation and elsewhere in this Annual Report. We advise you to carefully review the reports and documents we file from time to time with the Securities and Exchange Commission (the SEC), particularly our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K.

As used in this Annual Report, the terms we, us, our, Claridge, and the Company, mean Claridge Ventures, Inc.., unless otherwise indicated. All dollar amounts in this Annual Report are expressed in U.S. dollars, unless otherwise indicated.

ITEM 1.     BUSINESS.

CORPORATE BACKGROUND

We were incorporated on under the laws of the State of Nevada. We are an exploration stage company engaged in the acquisition and exploration of mineral properties. We owned a 100% undivided interest in mineral a property located in the State of Nevada known as the Pyramid Prospect. These claims have currently expired and are seeking new opportunities.

Compliance with Government Regulations

 If we decide to continue with the acquisition and exploration of mineral properties in the State of Nevada we will be required to comply with all regulations, rules and directives of governmental authorities and agencies applicable to the exploration of minerals in the State of Nevada. The main agency that governs the exploration of minerals in the State of Nevada is the Nevada Bureau of Mines.

Additional approvals and authorizations may be required from other government agencies, depending upon the nature and scope of the proposed exploration program. If the exploration activities require the falling of timber, then either a free use permit or a license to cut must be issued by the BLM. Items such as waste approvals may be required from the State of Nevada if the proposed exploration activities are significantly large enough to warrant them. Waste approvals refer to the disposal of rock materials removed from the earth which must be reclaimed. An environmental impact statement may be required.

In addition, we will also have to sustain the cost of reclamation and environmental remediation for all exploration work undertaken. Both reclamation and environmental remediation refer to putting disturbed ground back as close to its original state as possible.

Other potential pollution or damage must be cleaned-up and renewed along standard guidelines outlined in the usual permits. Reclamation is the process of bringing the land back to its natural state after completion of exploration activities. Environmental remediation refers to the physical activity of taking steps to remediate, or remedy, any environmental damage caused.



The amount of these costs is not known at this time as we do not know the extent of the exploration program that will be undertaken beyond completion of the recommended work program. Because there is presently no information on the size, tenor, or quality of any resource or reserve at this time, it is impossible to assess the impact of any capital expenditures on earnings, our competitive position or on us in the event a potentially economic deposit is discovered.

If we anticipate disturbing ground during our mineral exploration activities, we will be required to make an application under the Mines Act for a permit. A permit is issued within 45 days of a complete and satisfactory application. We do not anticipate any difficulties in obtaining a permit, if needed. Initial exploration activities (grid establishment, geological mapping, soil sampling, geophysical surveys) do not involve ground disturbance and as a result do not, at this time, require a work permit. Any follow-up trenching and/or drilling will require permits, applications for which will be submitted well in advance of the planned work.

If we enter the production phase, of which there is no assurance, the cost of complying with permit and regulatory environment laws will be greater because the impact on the project area is greater. Permits and regulations will control all aspects of the production program if the project continues to that stage. The regulatory requirements that we will have to meet will likely include:

 

(i)

Ensuring that any water discharge meets drinking water standards;

 

 

 

 

(ii)

Dust generation will have to be minimal or otherwise re-mediated;

 

 

 

 

(iii)

Dumping of material on the surface will have to be re-contoured and re-vegetated with natural vegetation;

 

 

 

 

(iv)

All material to be left on the surface will need to be environmentally benign;

 

 

 

 

(v)

Ground water will have to be monitored for any potential contaminants;


 

(vi)

The socio-economic impact of the project will have to be evaluated and if deemed negative, will have to be re-mediated; and

 

 

 

 

(vii)

There will have to be an impact report of the work on the local fauna and flora including a study of potentially endangered species.

Competition

We will compete with other mineral resource exploration and development companies for financing and for the acquisition of new mineral properties. Many of the mineral resource exploration and development companies with whom we compete have greater financial and technical resources than us. Accordingly, these competitors may be able to spend greater amounts on acquisitions of mineral properties of merit, on exploration of their mineral properties and on development of their mineral properties. In addition, they may be able to afford greater geological expertise in the targeting and exploration of mineral properties.

This competition could result in competitors having mineral properties of greater quality and interest to prospective investors who may finance additional exploration and development. This competition could adversely impact on our ability to finance further exploration and to achieve the financing necessary for us to develop our mineral properties.




Employees

We have no employees other than our executive officers and directors as of the date of this Annual Report on Form 10-K. We conduct our business largely through agreements with consultants and arms length persons.

Research and Development Expenditures

We have not incurred any research expenditures since our incorporation.

Patents and Trademarks

We do not own, either legally or beneficially, any patent or trademark.

Asset Acquisition Agreement


 Subsequent to July 31, 2012 and on September 4, 2012 Claridge Ventures, Inc., a Nevada corporation, (the "Company") entered into an Asset Acquisition Agreement with GPB International, LLC., (GPB) an Arizona limited liability corporation. Pursuant to the terms and conditions of the Asset Acquisition Agreement, the Company shall acquire certain assets of GPB directly related to the manufacturing, sale and distribution of that certain product known as B100%, which is a unique formulation and packaging for an electrolyte and vitamin enriched drinking water. The Company shall acquire various assets including the intellectual property rights related to B100% as well as, any right, title or interest in the foregoing as the same relates to B100%®, either held, or otherwise owned, by GPB shall be referred to hereinafter as the Business  As consideration for the acquisition the Company shall pay GPB an aggregate of $500,000 in cash and common shares of Claridge Ventures, Inc at the closing of the Asset Acquisition Agreement.


The Asset Acquisition Agreement contains customary representations and warranties and pre- and post-closing covenants of each party and customary closing conditions. Breaches of the representations and warranties will be subject to customary indemnification provisions, subject to specified aggregate limits of liability.  As of November 14, 2012 this traction has not closed.

ITEM 1A.               RISK FACTORS

The Company's former Independent Registered Public Accounting Firm that audited the Company's  Financial Statements from Inception May 7, 2008 to July 31, 2009, including July 31, 2009 has ceased operations and has not re-issued the report that appears in the Company's July 31, 2012 annual report on Form 10-K.

Because our former Independent Registered Public Accounting Firm has ceased operations and has not re-issued the report that appears in the Company's July 31, 2012 annual report on Form 10-K,  is a copy and investors have substantial risk associated with the reliance of the report and previously issued financial statements by the Company's former Independent Registered Public Accounting Firm and may not be able to recover their investment in whole or in part. Additionally, the Company does not purport or disclaim any liability for the company's financial statements and are solely responsible for the content of the financial statements.







If we do not obtain additional financing, our business plan will fail.

We will need to obtain additional financing in order to acquire or implement. Our previous business plan calls for significant expenses in connection with the exploration of mining claims. We have not made arrangements to secure any additional financing or  acquire new mining claims and are currently seeking new opportunities..

Because our directors and officers own the majority of our company's common stock, they have the ability to override the interests of the other stockholders.

Our Directors own 60.36% of our outstanding common stock and serves as our sole directors. Investors may find the corporate decisions influenced by our Directors are inconsistent with the interests of other stockholders.

We may conduct further offerings in the future in which case investors shareholdings will be diluted.

Since our inception, we have relied on equity sales of our common stock to fund our operations. We may conduct additional equity offerings in the future to finance any future business projects that we decide to undertake. If common stock is issued in return for additional funds, the price per share could be lower than that paid by our current stockholders. We anticipate continuing to rely on equity sales of our common stock in order to fund our business operations. If we issue additional stock, investors percentage interest in us will be diluted. The result of this could reduce the value of their stock.

Because our stock is a penny stock, stockholders will be more limited in their ability to sell their stock.

The shares of our common stock constitute penny stocks under the Exchange Act. The shares will remain classified as a penny stock for the foreseeable future. The classification as a penny stock makes it more difficult for a broker/dealer to sell the stock into a secondary market, which makes it more difficult for a purchaser to liquidate his or her investment. Any broker/dealer engaged by the purchaser for the purpose of selling his or her shares will be subject to rules 15g-1 through 15g-10 of the Exchange Act. Rather than having to comply with these rules, some broker-dealers will refuse to attempt to sell a penny stock.

The "penny stock" rules adopted by the SEC under the Exchange Act subjects the sale of the shares of our common stock to certain regulations which impose sales practice requirements on broker/dealers. For example, brokers/dealers selling such securities must, prior to effecting the transaction, provide their customers with a document that discloses the risks of investing in such securities.

Legal remedies, which may be available to an investor in "penny stocks, are as follows:

(a)

if "penny stock" is sold to an investor in violation of his or her rights listed above, or other federal or states securities laws, the investor may be able to cancel his or her purchase and get his or her money back.

(b)

if the stocks are sold in a fraudulent manner, the investor may be able to sue the persons and firms that caused the fraud for damages.

 (c)

if the investor has signed an arbitration agreement, however, he or she may have to pursue his or her claim through arbitration.



 If the person purchasing the securities is someone other than an accredited investor or an established customer of the broker/dealer, the broker/dealer must also approve the potential customer's account by obtaining information concerning the customer's financial situation, investment experience and investment objectives. The broker/dealer must also make a determination whether the transaction is suitable for the customer and whether the customer has sufficient knowledge and experience in financial matters to be reasonably expected to be capable of evaluating the risk of transactions in such securities. Accordingly, the SEC's rules may limit the number of potential purchasers of the shares of our common stock.

ITEM 2.        PROPERTIES.

Our executive offices are located at 3730-1015-4th Street SW Calgary Alberta T2R 1J4                                                                                                                                                               Our President, Kenneth Edmundson, currently provides this space to us free of charge.

This space may not be available to us free of charge in the future.

We currently do not own any physical property or own any real property.

Conditions to Retain Title the Mining Claim

In order to retain title to the mining claim, we were required to perform and file exploration work totaling $2,880 on the mining claims by August 31, 2010. these claims have expired and we are currently seeking new business opportunities.

ITEM 3.                    LEGAL PROCEEDINGS.

We are not a party to any material legal proceedings and, to our knowledge, no such proceedings are threatened or contemplated.

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

None, during this last fiscal year.

PART II

ITEM 5.

MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES

General

Our authorized capital stock consists of 100,000,000 shares of common stock, with a par value of $0.001 per share, and 10,000,000 shares of preferred stock, with a par value of $0.001 per share. As of December 10, 2009, there were 8,285,000 shares of our common stock issued and outstanding. We have not issued any shares of preferred stock.







Market Information

Our shares of common stock commenced trading on the OTC Bulletin Board under the symbol CLRV. Our shares became eligible for quotation on the OTC Bulletin Board in May 2009, and have since been quoted on the Pink Sheets the high and low bid information for our common stock for the year ended July 31, 2012 is:

Year ended  July 31, 2012

HIGH ($)

LOW ($)


$0

$0

Quotations provided by the Pink Sheets reflect inter-dealer prices, without retail mark-up, markdown or commission and may not represent actual transactions

Dividends

We have not declared any dividends on our common stock since our inception. There are no dividend restrictions that limit our ability to pay dividends on our common stock in our Articles of Incorporation or Bylaws. Our governing statute, Chapter 78 Private Corporations of the Nevada Revised Statutes (the NRS), does provide limitations on our ability to declare dividends. Section 78.288 of Chapter 78 of the NRS prohibits us from declaring dividends where, after giving effect to the distribution of the dividend:

(a)

we would not be able to pay our debts as they become due in the usual course of business; or

 

 

(b)

our total assets would be less than the sum of our total liabilities plus the amount that would be needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of stockholders who may have preferential rights and whose preferential rights are superior to those receiving the distribution (except as otherwise specifically allowed by our Articles of Incorporation).

Recent Sales Of Unregistered Securities

There have been no recent sales of Unregistered Securities

ITEM 6.   SELECTED FINANCIAL DATA  

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.








ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

PLAN OF OPERATION

As at July31, 2012 we had a cash balance of $0., we will have to raise additional funds starting immediately in order to continue with minimal operations and to explore new opportunities.

During the next 12 months, we do not anticipate generating any revenue. If additional funds become required, the additional funding will come from equity financing from the sale of our common stock.

If we are successful in completing an equity financing, existing shareholders will experience dilution of their interest in our company. We do not have any financing arranged and we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock to fund our operations and acquire a new business. In the absence of such financing, any business will fail.

Due to our lack of operating history and present inability to generate revenues, our auditors have stated their opinion that there currently exists substantial doubt about our ability to continue as a going concern. Even if we complete our current exploration program and it is successful in identifying a mineral deposit, we will have to spend substantial funds on further drilling and engineering studies before we will know if we have a commercially viable mineral reserve.

RESULTS OF OPERATIONS

Summary of Year End Results

 

 

 

Year Ended July 31

 

2012

2011

Revenue

$--

$--

Expenses

(5,960)

(1,085)

Net Comprehensive Loss

$5,960

$(1,085)

Revenues

We have not earned any revenues to date and we do not anticipate earning any revenues in the near future and presently are seeking other business opportunities.

The Companys expenses are primarily a result of minimal operating expenses.

LIQUIDITY AND FINANCIAL CONDITION

Working Capital

 

 

 

At July 31, 2012

At July31, 2011

Current Assets

$0

$0

Current Liabilities

(7,622)

(13,582)

Working Capital (Deficit)

$(7,622)

$(13,582)

    

                                                                            

Cash Flows

 

 

 

Year Ended

Year Ended

 

July 31, 2012

July 31, 2011,

Cash Flows used in Operating Activities

$5,960

$(1,085)

Cash Flows from (used in) Financing Activities


 --

Foreign currency translation

--

--

Net Increase (Decrease) in Cash During Period

$(-)

$(-)

Our working capital at July 31, 2012 has not changed from July 31, 2011 and is primarily a result of the fact that we had no revenue or sources of long-term financing during the years ended July 31, 2012.

As of July 31, 2012, we had cash on hand of $0. Since our inception, our sole sources of financing have been sales of our common stock. We have not attained profitable operations and our ability to pursue any future plan of operation is dependent upon our ability to obtain financing. For these reasons, our auditors stated in their report to our audited financial statements for the period ended July 31, 2012 that there is substantial doubt that we will be able to continue as a going concern.

We anticipate continuing to rely on sales of our common stock in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing stockholders. There is no assurance that we will be able to complete any additional sales of our equity securities or that we will be able arrange for other financing to fund our planned business activities.

OFF-BALANCE SHEET ARRANGEMENTS

We have no significant 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 are material to our stockholders.

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the audited financial statements included in this Annual Report.

Foreign Currency Translation

We use the United States of America dollar as our reporting currency for consistency with the registrants of the SEC and in accordance with FAS No. 52.

Assets and liabilities denominated in a foreign currency at period-end are translated at the exchange rate in effect at the period-end and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period. Any gains or losses arising as a result of such translations are not included in operations, but are reported as a separate component of equity as foreign currency translation adjustments, if applicable.



Transactions undertaken in currencies other than the functional currency are translated using the exchange rate in effect as of the transaction date. Any exchange gains or losses are included in other income or expenses on the statement of operations, if applicable.

Mineral Property

Cost of lease, acquisition, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred.

ITEM 7A.     QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We do not hold any derivative instruments and do not engage in any hedging activities. Because most of our purchases and sales will made in Canadian dollars, any exchange rate change affecting the value of the in Canadian dollar relative to the U.S. dollar could have an effect on our financial results as reported in U.S. dollars. If the in Canadian dollar were to depreciate against the U.S. dollar, amounts reported in U.S. dollars would be correspondingly reduced. If the in Canadian dollar were to appreciate against the U.S. dollar, amounts reported in U.S. dollars would be correspondingly increased.

ITEM 8. FINANCIAL STATEMENTS.

Index to Financial Statements:

Audited financial statements as of July31, 2012, including:


1.

Reports of Independent Registered Public Accounting Firm;*

2.

Balance Sheets as of July 31, 2012 and 2011;

3.

Statements of Operations for the years ended July 31, 2012 and 2011and for the period from inception on May 7, 2008 to July31, 2012;


4.

Statements of Cash Flows for the years ended July 31, 2012 and 2011 and for the period from inception on May 7, 2008  to July 31, 2012;


5.

Statement of Stockholders Equity (Deficiency) for the period from inception on May 7, 2008  through July 31, 2012; and


6.

Notes to Financial Statements.








                                                                                       

Note: This report is a copy of a previously issued report of the Company's former Independent Registered Public Accounting Firm. The Company's former Independent Registered Public Accounting Firm has ceased operations and has not re-issued this report

Report of Independent Registered Public Accounting Firm


To The Shareholders and Board of Directors

of Claridge Ventures, Inc.

      

     We have audited the accompanying consolidated balance sheets of Claridge Ventures, Inc. (a Exploration Stage Company) as of July 31, 2009 and 2008 and the related consolidated statements of operations, changes in consolidated Shareholders equity and cash flows for the years ended July 31, 2009 and 2008, and the period of May 7, 2008 (inception) through July 31, 2009. These consolidated financial statements are the responsibility of the Companys management.  Our responsibility is to express an opinion on these consolidated financial statements based on our audits.


     We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provided a reasonable basis for our opinion.


     In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Claridge Ventures, Inc. as of July 31, 2009 and 2008, and the results of its operations and its cash flows for the years ended July 31, 2009, and 2008 the period from May 7, 2008 (inception) through July 31, 2009, in conformity with accounting principles generally accepted in the United States.


     The accompanying financial statements referred to above have been prepared assuming that the Company will continue as a going concern.  As more fully described in Note 1, the Companys need to seek new sources or methods of financing or revenue to pursue its business strategy, raise substantial doubt about the Companys ability to continue as a going concern.  Managements plans as to these matters are also described in Note 1.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.  




Jewett, Schwartz, Wolfe & Associates


/s/Jewett, Schwartz, Wolfe & Associates

Hollywood, Florida

November 11, 2009





REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors andStockholders of Claridge Ventures, Inc.


We have audited the accompanying balance sheet of Claridge Ventures, Inc. as of July 31, 2012 , and the related statements of operations, stockholders equity and cash flows for the year then ended. Claridge Ventures, Inc.s management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audit. The financial statements of Claridge Ventures, Inc. as of July 31, 2009 and for the year ended July 31, 2009 and for the period from the date of inception, May 7, 2008 to July 31, 2009 were audited by other auditors whose report dated November 11, 2009 expressed an unqualified opinion on those financial statements. The other auditors have ceased operations.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the companys internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Claridge Ventures, Inc. as of July 31, 2012, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company does not have the necessary working capital for its planned activity, which raises substantial doubt about its ability to continue as a going concern. Managements plans in regard to these matters are described in the notes to the financial statements. These financial statements do not include any adjustments that might result for the outcome of this uncertainty



s/Madsen & Associates CPAs, Inc.

Madsen & Associates CPAs, Inc.



Salt Lake City, Utah



November 13, 2012







CLARIDGE VENTURES, INC.

                                                                         (An Exploration Stage Company)












 BALANCE SHEETS











July 31,


July 31,









2012


2011












ASSETS












CURRENT ASSETS:










Cash






 $                  -


 $                -














TOTAL CURRENT ASSETS




                     -


                    -














TOTAL ASSETS





 $                -   


 $                 -

LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY


Accounts payable and accrued expenses




 $        7,622


 $        13,582














TOTAL CURRENT LIABILITIES




           7,622


           13,582

SHAREHOLDERS' (DEFICIT) EQUITY:



















Common stock, .001 par value 100,000,000 shares authorized







8,285,000 shares issued and outstanding as of July 31, 2012 and 2011.


             8,285


             8,285


Paid in capital






62,415


62,415


Deficit Accumulated during the Exploration Stage




(78,322)


(84,282)














TOTAL SHAREHOLDERS' (DEFICIT) EQUITY



         (7,622)


        (13,582)














TOTAL LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY

 $                -   


 $                 -

















F3



CLARIDGE VENTURES, INC.

(An Exploration Stage Company)










 STATEMENTS OF OPERATIONS















For the Year


For the Year


For the Period





Ended


 Ended


from May 7,





July 31,


July 31,


2008 (Inception) to





2012


2011


July 31, 2012










REVENUES


 $                    -   


 $                    -   


 $                    -   










Cost of operations


                       -   


                       -   


                       -   










GROSS PROFIT


                       -   


                       -   


                       -   










OPERATING EXPENSES







General and administrative expenses

               (5,960)


                1,085


                40,404


Consulting


                       -   


                       -


                30,000


Impairment loss on mineral property costs

                       -   


                       -   


                21,500












Total operating expenses

               (5,960)


                1,085


                91,904










Loss from continuing operations







before provision for income taxes

                         -   


                       -   


                       -   










Provision for income taxes

                          -   


                       -   


                       -   










NET INCOME/LOSS


 $            5,960

 

 $        (1,085)

 

 $         (91,904)










Weighted average common shares outstanding - basic and diluted

           8,285,000


           8,285,000


                         -










Net loss per share-basic and diluted

 $                    -   


 $                    -   


 $                    -   











F4



       CLARIDGE VENTURES , INC.

                 (An Exploration Stage Company)










STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY















Common Stock


 Deficit


 





 

 Additional

 Accumulated

 Total  

 





Number of


 Paid-in

 in Exploration

 Shareholders'  

 





Shares

Par Value

 Capital

 Stage  

 Equity

 










 

BALANCE, MAY 7, 2008 (INCEPTION)

                      -   

 $                   -   

 $                   -   

 $                   -   

 $                     -

 










 


Shares subscribed at $0.001


          5,000,000

                 5,000

                        -


                 5,000

 


Shares subscribed at $0.02


          3,285,000

                 3,285

               62,415


               65,700

 










 


Net loss



                      -   

                      -   

                      -   

             (42,833)

             (42,833)

 










 

BALANCE, JULY 31, 2008


          8,285,000

 $              8,285

 $            62,415

 $          (42,833)

 $            27,867

 










 


Net Loss



 

 

 

             (40,364)

             (40,364)

 










 

BALANCE, JULY 31, 2009


          8,285,000

 $              8,285

 $            62,415

 $          (83,197)

 $          (12,497)

 










 


Net Loss



 

 

 

               (1,085)

               (1,085)

 










 

BALANCE, JULY 31, 2010



          8,285,000

 $              8,285

 $            62,415

 $          (84,282)

 $          (13,582)

 










 


Net Loss



 

 


                       -

                      -

 










 

BALANCE, JULY 31, 2011



          8,285,000

 $              8,285

 $            62,415

 $          (84,282)

 $          (13,582)

 










 


Net Income/ (Loss)




 

 

                  5,960


5,960

5960










 

BALANCE, JULY 31, 2012



          8,285,000

 $              8,285

 $            62,415

 $          (78,322)

 $          (7,622)

 










 





F5


CLARIDGE VENTURES, INC.

(An Exploration Stage Company)














 STATEMENTS OF CASH FLOWS






















For the Year


For the Year


For the Period








 Ended


Ended


from May 7,








July31,


July31,


2008 (Inception) to








2012

 

2011

 

July 31, 2012

CASH FLOW FROM OPERATING ACTIVITIES:









Net loss





 $            5,960


 $           (1,085)


 $           (78,322)


Adjustments to reconcile net loss to net cash










Impairment loss on mineral property costs


                         -   


                       -   


                21,500


Changes in assets and liabilities:











Accounts payable and accrued expenses



               (5,960)

 

                  1,085

 

                7,622













NET CASH USED IN OPERATING ACTIVITIES



                

 

                         -

 

              (49,200)













CASH FLOW FROM INVESTING ACTIVITIES:










Purchase of mineral rights




                       -   

 

                       -   

 

              (21,500)

NET CASH USED BY INVESTING ACTIVITIES



                       -   

 

                       -   

 

              (21,500)













CASH FLOW FROM FINANCING ACTIVITIES:









Net proceeds from Advances

                       -   


                       -   


                       -   


Net proceeds from subscriptions



                       -   

 

                       -   

 

                70,700

NET CASH PROVIDED BY FINANCING ACTIVITIES

                        -   

 

                       -   

 

                70,700













(Decrease) Increase in Cash and Cash Equivalents



                        -


                        -


                       -   













CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

                         -

 

                        -

 

                       -   













CASH AND CASH EQUIVALENTS, END OF PERIOD

 $                    -   

 

 $                      -

 

 $                    -   













SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:







Cash paid for interest




 $                    -   

 

 $                    -   

 

 $                    -   


Cash paid for income taxes




 $                    -   

 

 $                    -   

 

 $                    -   














F6




CLARIDGE VENTURES, INC.

(An Exploration Stage Company)

NOTES TO THE FINANCIAL STATEMENTS

July 31, 2012



NOTE 1 ORGANIZATION AND BASIS OF PRESENTATION


Claridge Ventures Inc. (the "Company") was incorporated in the State of Nevada on May 7, 2008. The Company was organized to develop and explore mineral properties in the State of Nevada..

These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States and are expressed in United States (US) dollars. The Company has not produced any revenue from its principal business and is an exploration stage company.


NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES


Use of Estimates


The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of these financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.


Impaired Asset Policy


The Company tests its assets for recoverability whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable, which includes comparing the carrying amount of a long-lived asset to the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. An impairment loss would be measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value. For the Company's mining claims, this test includes examining the discounted and undiscounted cash flows associated with value beyond proven and probable reserves, in determining whether the mining claim is impaired.


Start-up Expenses


The Company expenses costs associated with start-up activities as incurred. Accordingly, start-up costs associated with the Company's formation have been included in the Company's general and administrative expenses for the period from inception on May 7, 2008

 to July 31, 2012.


Foreign Currency Translation


The Companys functional and reporting currency is the US dollar as substantially all of the Companys operations are in United States.








F-7







CLARIDGE VENTURES, INC.

(An Exploration Stage Company)

NOTES TO THE FINANCIAL STATEMENTS

July 31, 2012


Assets and liabilities that are denominated in a foreign currency are translated at the exchange rate in effect at the year end and capital accounts are translated at historical rates.  Income statement accounts are translated at the average rates of exchange prevailing during the period.  Translation adjustments from the use of different exchange rates from period to period are included in the Comprehensive Income statement account in Stockholders Equity, if applicable.  


Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date.  If applicable, exchange gains and losses are included in other items on the Statement of Operations.


Basic and Diluted Loss Per Share


The Company computes basic loss per share by dividing the net loss by the weighted average common shares outstanding during the period. There are no potential common shares; accordingly, diluted and basic loss per share amounts are the same.


Fair Value of Financial Instruments


The Companys only financial instruments are cash and deposits. Due to the short maturities of these financial instruments, their fair value approximates their carrying value.  

                                                                   

Income Taxes


Deferred income tax liabilities or assets at the end of each period are determined using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized. The Company has net operating losses of $91, 904 as of July 31, 2012, with an approximate deferred tax asset of $31,247 that has been fully offset by a valuation allowance. These net operating losses begin to expire in 2032.


Recent Authoritative Pronouncements

The Company does not expect that the adoption of any recent accounting standards to have a material impact on its financial statements.

NOTE 3 MINERAL PROPERTY ACQUISITION AND EXPLORATION COST

On July 17, 2008 the Company acquired a 100% interest in numerous claims known as the Pyramid Properties, located in the State of Nevada. The claims were purchased for $21,500 cash and accompanying the property purchase was a geological report which was included in the purchase price. During the year ended July 31, 2008, the Company determined that the carrying amount of the mineral claims were in excess of its estimated fair value and recognized an impairment loss on mineral claims costs of $21,500. these claims have currently expired.






                                                                          F-8






CLARIDGE VENTURES, INC.

(An Exploration Stage Company)

NOTES TO THE FINANCIAL STATEMENTS

July 31, 2012


NOTE 4 STOCKHOLDERS EQUITY


The Company has issued common shares to  a total of 39 individuals between May 7, 2008 and July 31, 2008. 5,000,000 shares were purchased at $0.001 by two individual for total proceeds of $5,000; 3,285,000 shares were purchased at $0.02 by 37 individuals for a total proceeds received by the company of $65,700.


NOTE 5 GOING CONCERN

These financial statements are presented on the basis that the Company is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business over a reasonable length of time. As of July 31, 2012 the Company had incurred accumulated losses since inception of $91,904. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Its continuation as a going concern is dependent upon its ability to generate sufficient cash flow to meet its obligations on a timely basis, to obtain additional financing or refinancing as may be required, and ultimately to establish profitable operations.


Management's plans for the continuation of the Company as a going concern include financing the Company's operations through issuance of its common stock. If the Company is unable to complete its financing requirements or achieve revenue as projected, it will then modify its expenditures and plan of operations to coincide with the actual financing completed and actual operating revenues. There are no assurances, however, with respect to the future success of these plans.


NOTE 6 SUBSEQUENT EVENTS


On September 4, 2012 Claridge Ventures, Inc., a Nevada corporation, (the "Company") entered into an Asset Acquisition Agreement with GPB International, LLC., (GPB) an Arizona limited liability corporation. Pursuant to the terms and conditions of the Asset Acquisition Agreement, the Company shall acquire certain assets of GPB directly related to the manufacturing, sale and distribution of that certain product known as B100%, which is a unique formulation and packaging for an electrolyte and vitamin enriched drinking water. The Company shall acquire various assets including the intellectual property rights related to B100% as well as, any right, title or interest in the foregoing as the same relates to B100%®, either held, or otherwise owned, by GPB shall be referred to hereinafter as the Business  As consideration for the acquisition the Company shall pay GPB an aggregate of $500,000 in cash and common shares of Claridge Ventures, Inc at the closing of the Asset Acquisition Agreement.


On October 5, 2012 the company received approval with respect a 35 to 1 forward split bringing the total issued and outstanding common shares from 8,285,000 to 289,975,000 issued and outstanding common shares.









                                                                          F-9




 ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

There has been changes in and no disagreements with our principal independent accountants. However, our principal independent accountants have changed.

On September 16, 2011 Jewett, Swartz, Wolfe and Associates (JSW). was dismissed as Claridge Ventures, Inc. (the Company) independent registered public accounting firm.


During the fiscal year ended July 31, 2009, and further through the date of dismissal of, there have been no disagreements with Jewett, Swartz, Wolfe and Associates (JSW) on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement if not resolved to the satisfaction of, would have caused them to make reference to the subject matter of the disagreement(s) in connection with their report on the Companys financial statements for such years; and there were no reportable events, as listed in Item 304(a)(1)(iv) of Regulation S-K.


During the fiscal year ended July 31, 2009, and further through the date of dismissal of Jewett, Swartz, Wolfe and Associates (JSW), Jewett, Swartz, Wolfe and Associates (JSW) did not advise the Company on any matter set forth in Item 304(a)(1)(v)(A) through (D) of Regulation S-K.

The Company Dismissed Jewett, Schwartz, Wolfe and Associates due to the fact that they ceased to be  an operating entity.

We have engaged Madsen and Associates CPA'S as our independent auditors since September 2011

 During the year ended July 31, 2012 and through to the date hereof, neither we, nor anyone on our behalf, has consulted with, regarding the application of accounting principles to a specified transaction, whether completed or proposed, or the type of audit opinion that might be rendered on our financial statements, nor has provided to us a written report or oral advice regarding such principles or audit opinion or any matter that was the subject of a disagreement or any reportable events as set for in Item 304(a)(3) of Regulation S-X.

ITEM 9A.                 CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures


We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit 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 and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.


We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of July 31, 2012.  

           




Based on the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.


Managements Report on Internal Control Over Financial Reporting


Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f). The Companys internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.


Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.


Under the supervision and with the participation of management, including the Chief Executive Officer and Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Companys internal control over financial reporting as of August 31, 2012 using the criteria established in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO").  


A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Companys annual or interim financial statements will not be prevented or detected on a timely basis. In its assessment of the effectiveness of internal control over financial reporting as of July 31, 2012, the Company determined that there were control deficiencies that constituted material weaknesses, as described below.


     

1.     

We do not have an Audit Committee While not being legally obligated to have an audit committee, it is the managements view that such a committee, including a financial expert member, is an utmost important entity level control over the Companys financial statements. Currently the Board of Directors acts in the capacity of the Audit Committee, and does not include a member that is considered to be independent of management to provide the necessary oversight over managements activities.  


 

 


2.     

We did not maintain appropriate cash controls As of July 31, 2012, the Company has not maintained sufficient internal controls over financial reporting for the cash process, including failure to segregate cash handling and accounting functions, and did not require dual signature on the Companys bank accounts.  Alternatively, the effects of poor cash controls were mitigated by the fact that the Company had limited transactions in their bank accounts.







     




3.

We did not implement appropriate information technology controls As at July 31, 2012, the Company retains copies of all financial data and material agreements; however there is no formal procedure or evidence of normal backup of the Companys data or off-site storage of the data in the event of theft, misplacement, or loss due to unmitigated factors.  





Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the Companys internal controls.


As a result of the material weaknesses described above, management has concluded that the Company did not maintain effective internal control over financial reporting as of July 31, 2012 based on criteria established in Internal ControlIntegrated Framework issued by COSO. 


Changes in Internal Control over Financial Reporting


There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of July 31, 2012, that occurred during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.  


This annual report does not include an attestation report of the Companys registered public accounting firm regarding internal control over financial reporting. Managements report was not subject to attestation by the Companys registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only managements report in this annual report.


Continuing Remediation Efforts to address deficiencies in Companys Internal Control over Financial Reporting


Once the Company is engaged in a business of merit and has sufficient personnel available, then our Board of Directors, in particular and in connection with the aforementioned deficiencies, will establish the following remediation measures:





 

1.

Our Board of Directors will nominate an audit committee or a financial expert on our Board of Directors in the next fiscal year, 2012- 2013.

 

 

 

2.

We will appoint additional personnel to assist with the preparation of the Companys monthly financial reporting, including preparation of the monthly bank reconciliations.

ITEM 9B.                 OTHER INFORMATION.

We have filed items on Form 8K During the fiscal year ending July 31, 2012

PART III

ITEM 10.

DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, CONTROL PERSONS AND CORPORATE GOVERNANCE; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.

Our executive officers and directors and their age and titles are as follows:

Name

Age

Position

 Kenneth Edmundson

47 

 President, and Director

Robert Edmundson

51

 Secretary Treasurer andDirector


Set forth below is a brief description of the background and business experience of our officers and directors:

Kenneth Edmundson

Mr. Edmundson has acted as our President, Chief Executive Officer, Chief Financial officer and Director since our inception on May 7, 2008. Mr. Edmundson is currently employed by Wealthstreet Inc. a Calgary based Private Investment and Financial Company where his focus was on Private Equity Investments sales. Mr. Edmundsons background includes, 11 years of Retail Management, which included 8 years with Sport Mart Inc, which is now a division of The Forzani Group of Companies. He started in Store Management moving to Senior Management, building the company from 2 to 20 locations in Western Canada. From there Mr. Edmundson moved to the Investment Industry where he spent 8 years as an Investment Advisor with Canaccord Capital and Raymond James Ltd. in Calgary, Alberta.

Robert Edmundson

Mr. Edmundson has acted as our Secretary, Treasurer, and Chief accounting Officer and Director since our inception on May 7, 2008.  Mr. Edmundson is currently employed by the Murray Auto Group. Prior to his current employment he was with MTS Allstream Inc. in various positions for more than 23 years. During his tenure he managed sales and corporate relationships including Manager of Municipal Affairs/ 9-1-1 Service. Mr. Edmundson also holds a two year certificate in Business Administration from Assiniboine College.

Given that our directors have no previous experience in mineral exploration or operating a mining and exploration company, our directors also lack accounting credentials, they intend to perform their job for us by engaging consultants who have experience in the areas where they are lacking. Our directors are also studying information about our industry to familiarize themselves with our business.

TERM OF OFFICE

Our directors are appointed for a one-year term to hold office until the next annual general meeting of our stockholders or until removed from office in accordance with our Bylaws. Our officers are appointed by our board of directors and hold office until removed by the board.

SIGNIFICANT EMPLOYEES

We have no significant employees other than our officers and directors.

AUDIT COMMITTEE

We are not a listed issuer and as such our Board of Directors is not required to maintain a separately-designated standing audit committee. As a result, our entire Board of Directors acts as our audit committee. Our sole director does not meet the definition of an audit committee financial expert. We believe that the cost related to appointing a financial expert to our Board of Directors at this time is prohibitive.





COMPLIANCE WITH SECTION 16(a) OF THE SECURITIES EXCHANGE ACT

Section 16(a) of the Exchange Act requires our executive officers and directors, and persons who beneficially own more than 10% of our equity securities (collectively, the Reporting Persons), to file reports of ownership and changes in ownership with the SEC. Reporting Persons are required by SEC regulation to furnish us with copies of all forms they file pursuant to Section 16(a). Based on our review of the copies of such forms received by us, other than as described below, no other reports were required for those persons. We believe that, during the year ended July31, 2011, all Reporting Persons complied with all Section 16(a) filing requirements applicable to them.

ITEM 11.   EXECUTIVE COMPENSATION.

SUMMARY COMPENSATION TABLE

The following table sets forth total compensation paid to or earned by our named executive officers, as that term is defined in Item 402(a)(2) of Regulation S-X during the fiscal year ended July31, 2012:

   SUMMARY COMPENSATION TABLE   

Name & Principal Position

Year

Salary ($)

Bonus($)

Stock Awards ($)

Option Awards ($)

Non- Equity Incentive Plan Compen- sation ($)

Nonqualifie d Deferred Compen- sation Earnings ($)

All Other Compen -sation ($)

Total ($)

 

K Edmundson President,

2011 2012

$0 $0

$0 $0

$0 $0

$0 $0

$0 $0

$0 $0

$0 $0

$0$0

 

R. Edmundson

Sec/ Treas

2011

2012

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

 

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END

As at our year ended July 31, 2012, we did not have any outstanding equity awards.

EMPLOYMENT CONTRACTS

We have no employment contracts, termination of employment or change-in-control arrangements with any of our executive officers or directors.




ITEM 12.




SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.



EQUITY COMPENSATION PLANS

We have no equity compensation plans (including individual compensation arrangements) under which our equity securities are authorized for issuance.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth certain information concerning the number of shares of our common stock owned beneficially as of July 31, 2012 by: (i) each person (including any group) known to us to own more than five percent (5%) of any class of our voting securities, (ii) each of our directors, (iii) each of our named executive officers; and (iv) officers and directors as a group. Unless otherwise indicated, the shareholder listed possesses sole voting and investment power with respect to the shares shown.

Title of Class

Name and Address of Beneficial Owner

Amount and Nature of Beneficial Ownership

Percentage of Common Stock(1)

 

DIRECTORS AND EXECUTIVE OFFICERS

Common Stock

Kenneth Edmundson

3,000,000 Direct

36.22%

 

Common Stock

Robert Edmundson

2,000,000

Direct

24.14%

 

Common Stock

All Directors and Executive Officers as a Group (2 people)

5,000,000

60.36%

 

5% STOCKHOLDERS

Common Stock

Kenneth Edmundson


Robert Edmundson

3,000,000 Direct

2,000,000


            60.36%

 


Notes:

 

(1)

Based on 8,285,000shares of our common stock issued and outstanding as of July 31, 2012. Under Rule 13d-3, certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights.

As a result, the percentage of outstanding shares of any person as shown in this table does not necessarily reflect the persons actual ownership or voting power with respect to the number of shares of common stock actually outstanding on July 31, 2012



ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

Except as described below, none of the following parties has, since our date of incorporation, had any material interest, direct or indirect, in any transaction with us or in any presently proposed transaction that has or will materially affect us, other than noted in this section:

 

(i)

Any of our directors or officers;

 

(ii)

Any person proposed as a nominee for election as a director;

 

(iii)

Any person who beneficially owns, directly or indirectly, shares carrying more than 10% of the voting rights attached to our outstanding shares of common stock;

 

(iv)

Any of our promoters; and

 

(v)

Any relative or spouse of any of the foregoing persons who has the same house as such person.

Director Independence

Quotations for our common stock are entered on the OTC Bulletin Board inter-dealer quotation system, which does not have director independence requirements. For purposes of determining director independence, we have applied the definitions set out in NASDAQ Rule 4200(a)(15). Under NASDAQ Rule 4200(a)(15), a director is not considered to be independent if he or she is also an executive officer or employee of the corporation.

ITEM 14.         PRINCIPAL AND ACCOUNTANT FEES AND SERVICES.

Audit Fees

The aggregate fees billed for the two most recently completed fiscal years ended July31, 2012 and 2011 for professional services rendered by the principal accountant for the audit of our annual financial statements and review of the financial statements included our Quarterly Reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for these fiscal periods were as follows:

 

Year Ended July 31, 2012

Year Ended July 31, 2011

Audit Fees

$5,000

$5,000

Audit Related Fees

8,300

8,300

Tax Fees

Nil

Nil

All Other Fees

Nil

Nil

                                   Total

$13,300

$13,300






ITEM 15.                    EXHIBITS.

Exhibit

 

Number

Description of Exhibits

 

 

3.1

Articles of Incorporation.(1)

 

 

3.2

Bylaws, as amended.(1)

 

 

4.1

Form of Share Certificate.(1)

 

 

10.1

Purchase Agreement between David Bending and Claridge Ventures, Inc..(1)

 

 




Exhibit

 

Number

Description of Exhibits

 

 

14.1

Code of Ethics. (2)

 

 

31.1

Certification of Principal Executive Officer and Principal Financial Officer as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

32.1

Certification of Principal Executive Officer and Principal Financial Officer as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.



(1)

Filed with the SEC as an exhibit to our Registration Statement on Form S-1originally filed on September 10, 2008 as amended.














SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

CLARIDGE VENTURES, INC..

 

 

 

 

 

 

 

 

Date:

November 15, 2012

By:

/s/ Kenneth Edmundson

 

 

 


 

 

 

President, Treasurer

 

 

 

(Principal Executive Officer

 

 

 

and Principal Accounting Officer)





/s/ Robert Edmundson

Date:

November 15, 2012

      By:

Robert Edmundson

 

 

 

Secretary Treasurer and Director

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.

Date:

November 15, 2012

By:

/s/ Kenneth Edmundson

 

 

 


 

 

 

President, Treasurer

 

 

 

(Principal Executive Officer

 

 

 

and Principal Accounting Officer) Director

 

 

 





/s/ Robert Edmundson

Date:

November 15, 2012

      By:

Robert Edmundson

 

 

 

Secretary Treasurer and Director