UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q





[X]
            QUARTERLY
      REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934FOR
      THE QUARTERLY PERIOD ENDED MARCH 31, 2009OR[   ]
            TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934





Commission
file number 000-53463





EVEREST RESOURCES
CORP.


(Exact
name of registrant as specified in its charter)





NEVADA


(State
or other jurisdiction of incorporation or organization)





8798
- 51st
Avenue


Edmonton,
Alberta


Canada
T6E 5E8


(Address of
principal executive offices, including zip code.)





(780)
966-3429


(telephone
number, including area code)





Check
whether the issuer (1) 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 last 90 days.


YES
[X]   NO [   ]





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,” “non-accelerated filer,” and “smaller reporting company” in
Rule 12b-2 of the Exchange Act.





Large
      Accelerated Filer
                [   ]
                
                Accelerated
      Filer
                
                [   ]Non-Accelerated
      filer
                
                [   ]
                
                Smaller
      Reporting Company
                [X]





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





State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of the latest practicable date: 6,600,000 as of May 11, 2009.
























PART
I – FINANCIAL INFORMATION








ITEM
1.                      FINANCIAL
STATEMENTS





Everest
Resources Corp.


(An
Exploration Stage Company)








March 31,
2009





Index








Balance
Sheets .....................................................................................................................................F-1





Statements
of
Operations ...................................................................................................................F-2





Statements
of Cash
Flows ..................................................................................................................F-3





Notes to
the Financial
Statements ....................................................................................................F-4




























-2-





Everest
Resources Corp.


(An
Exploration Stage Company)


Balance
Sheets


(Expressed
in US dollars)








March
      31,
                      2009
                      $
                    
                    
                    June
      30,
                      2008
                      $(Unaudited)ASSETSCurrent
      AssetsCash
                    
                    
                    5,535
                    
                    
                    
                    35,959Total
      Assets
                    
                    
                    5,535
                    
                    
                    
                    35,959LIABILITIES
      AND STOCKHOLDERS’ (DEFICIT) EQUITYCurrent
      LiabilitiesAccounts
      payable
                    
                    
                    9,909
                    
                    
                    
                    6,810Accrued
      liabilities
                    
                    
                    –
                    
                    
                    
                    3,834Total
      Liabilities
                    
                    
                    9,909
                    
                    
                    
                    10,644Contingencies
      and Commitments (Notes 1 and 3)Stockholders’
      (Deficit) EquityPreferred
      Stock
                      Authorized:
      100,000,000 shares, par value $0.00001
                      Issued
      and outstanding: nil
                    
                    
                    –
                    
                    
                    
                    –Common
      Stock
                      Authorized:
      100,000,000 shares, par value $0.00001
                      Issued
      and outstanding: 6,600,000 shares
                    
                    
                    66
                    
                    
                    
                    66Additional
      Paid-in Capital
                    
                    
                    79,984
                    
                    
                    
                    79,984Donated
      Capital (Note 4)
                    
                    
                    17,400
                    
                    
                    
                    12,000Deficit
      Accumulated During the Exploration Stage
                    
                    
                    (101,824
                    )
                    
                    
                    (66,735
                    )Total
      Stockholders’ (Deficit) Equity
                    
                    
                    (4,374
                    )
                    
                    
                    25,315Total
      Liabilities and Stockholders’ (Deficit) Equity
                    
                    
                    5,535
                    
                    
                    
                    35,959









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





F-1






-3-





Everest
Resources Corp.


(An
Exploration Stage Company)


Statements
of Operations


(Expressed
in US dollars)


(Unaudited)





Accumulated
      From
                              November
      8, 2006
                              (Date
      of Inception)
                              to
      March 31,
                            
                            
                            Three
      Months
                              Ended
                              March
      31,
                            
                            
                            Three
      Months
                              Ended
                              March
      31,
                            
                            
                            Nine
      Months
                              Ended
                              March
      31,
                            
                            
                            Nine
      Months
                              Ended
                              March
      31,2009
                            
                            
                            2009
                            
                            
                            2008
                            
                            
                            2009
                            
                            
                            2008$
                            
                            
                            $
                            
                            
                            $
                            
                            
                            $
                            
                            
                            $Revenue
                            
                            –
                            
                            
                            –
                            
                            
                            –
                            
                            
                            –
                            
                            
                            –ExpensesGeneral
      and administrative
                            
                            12,031
                            
                            
                            1,660
                            
                            
                            (23
                            )
                            
                            4,037
                            
                            
                            2,711Impairment
      of mineral property costs (Note 3)
                            
                            1,000
                            
                            
                            –
                            
                            
                            –
                            
                            
                            –
                            
                            
                            –Management
      fees (Note 4)
                            
                            14,500
                            
                            
                            1,500
                            
                            
                            1,500
                            
                            
                            4,500
                            
                            
                            4,500Mineral
      property costs (Note 3)
                            
                            4,582
                            
                            
                            –
                            
                            
                            –
                            
                            
                            226
                            
                            
                            856Professional
      fees
                            
                            66,811
                            
                            
                            –
                            
                            
                            4,486
                            
                            
                            25,426
                            
                            
                            38,932Rent
      (Note 4)
                            
                            2,900
                            
                            
                            300
                            
                            
                            300
                            
                            
                            900
                            
                            
                            900Total
      Expenses
                            
                            101,824
                            
                            
                            3,460
                            
                            
                            6,263
                            
                            
                            35,089
                            
                            
                            47,899Net
      Loss
                            
                            (101,824
                            )
                            
                            (3,460
                            )
                            
                            (6,263
                            )
                            
                            (35,089
                            )
                            
                            (47,899
                            )Net
      Loss Per Share – Basic and Diluted
                            
                            
                            
                            
                            –
                            
                            
                            –
                            
                            
                            (0.01
                            )
                            
                            (0.01
                            )Weighted
      Average Common Shares Outstanding
                            
                            
                            
                            
                            6,600,000
                            
                            
                            6,600,000
                            
                            
                            6,600,000
                            
                            
                            6,257,000





























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





F-2







-4-





Everest
Resources Corp.


(An
Exploration Stage Company)


Statements
of Cash Flows


(Expressed
in US dollars)


(Unaudited)








Nine
      Months
                Ended
                March
      31,
              
              
              Nine
      Months
                Ended
                March
      31,2009
              
              
              2008$
              
              
              $Operating
      ActivitiesNet
      loss for the period
              
              (35,089
              )
              
              (47,899
              )Adjustment
      to reconcile net loss to net cash used in operating
      activities:Donated
      expenses
              
              5,400
              
              
              5,400Changes
      in operating assets and liabilities:Prepaid
      expenses
              
              –
              
              
              5,000Accounts
      payable and accrued liabilities
              
              (735
              )
              
              5,523Net
      Cash Used in Operating Activities
              
              (30,424
              )
              
              (31,976
              )Decrease
      in Cash
              
              (30,424
              )
              
              (31,976
              )Cash
      – Beginning of Period
              
              35,959
              
              
              70,065Cash
      – End of Period
              
              5,535
              
              
              38,089Supplemental
      Disclosures:Interest
      paid
              
              –
              
              
              –Income
      taxes paid
              
              –
              
              
              –















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





F-3





-5-





Everest
Resources Corp.


(An
Exploration Stage Company)


Notes to
the Financial Statements


March 31,
2009


(Expressed
in US dollars)


(Unaudited)





1.
            Nature
      of Operations






Everest
Resources Corp. (the “Company”) was incorporated in the State of Nevada on
November 8, 2006. The Company is an Exploration Stage Company, as defined by
Statement of Financial Accounting Standard (“SFAS”) No.7 “Accounting and Reporting for
Development Stage Enterprises”. The Company’s principal business is the
acquisition and exploration of mineral resources. The Company has not presently
determined whether its properties contain mineral reserves that are economically
recoverable.




These
financial statements have been prepared on a going concern basis, which implies
the Company will continue to realize its assets and discharge its liabilities in
the norm al course of business. The Company has never generated revenues since
inception and has never paid any dividends and is unlikely to pay dividends or
generate earnings in the immediate or foreseeable future. The continuation of
the Company as a going concern is dependent upon the continued financial support
from its shareholders, the ability of the Company to obtain necessary equity
financing to continue operations, and the attainment of profitable operations.
As at March 31, 2009, the Company has a working capital deficit of $4,374 and
accumulated losses of $101,824 since inception. These factors raise substantial
doubt regarding the Company’s ability to continue as a going concern. These
financial statements do not include any adjustments to the recoverability and
classification of recorded asset amounts and classification of liabilities that
might be necessary should the Company be unable to continue as a going
concern.





2.
            Significant
      Accounting Policies






a)
            Basis
      of Presentation




These
financial statements and related notes are presented in accordance with
accounting principles generally accepted in the United States, and are expressed
in US dollars. The Company’s fiscal year-end is June 30.




b)
            Interim
      Financial Statements




The
interim unaudited consolidated financial statements have been prepared in
accordance with accounting principles generally accepted in the United States
for interim financial information and with the instructions to Securities and
Exchange Commission (“SEC”) Form 10-QSB. They do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. Therefore, these financial statements should
be read in conjunction with the Company’s audited financial statements and notes
thereto for the year ended June 30, 2008, included in the Company’s Form 10-K
filed on October 10, 2008 with the SEC.




c)
            Use
      of Estimates




The
preparation of financial statements in conformity with United States generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. The Company regularly evaluates estimates and assumptions
related to donated services and deferred income tax asset valuation allowances.
The Company bases its estimates and assumptions on current facts, historical
experience and various other factors that it believes to be reasonable under the
circumstances, the results of which form the basis for making judgments about
the carrying values of assets and liabilities and the accrual of costs and
expenses that are not readily apparent from other sources. The actual results
experienced by the Company may differ materially and adversely from the
Company’s estimates. To the extent there are material differences between the
estimates and the actual results, future results of operations will be
affected.




d)
            Cash
      and Cash Equivalents




The
Company considers all highly liquid instruments with maturity of three months or
less at the time of issuance to be cash equivalents.









F-4





-6-





Everest
Resources Corp.


(An
Exploration Stage Company)


Notes to
the Financial Statements


March 31,
2009


(Expressed
in US dollars)


(Unaudited)







2.
            Significant
      Accounting Policies (continued)






e)
            Financial
      Instruments




SFAS No.
157 “Fair Value
Measurements” requires an entity to maximize the use of observable inputs
and minimize the use of unobservable inputs when measuring fair value. SFAS No.
157 establishes a fair value hierarchy based on the level of independent,
objective evidence surrounding the inputs used to measure fair value. A
financial instrument’s categorization within the fair value hierarchy is based
upon the lowest level of input that is significant to the fair value
measurement. SFAS No. 157 prioritizes the inputs into three levels that may be
used to measure fair value:




Level
1




Level 1
applies to assets or liabilities for which there are quoted prices in active
markets for identical assets or liabilities.




Level
2




Level 2
applies to assets or liabilities for which there are inputs other than quoted
prices that are observable for the asset or liability such as quoted prices for
similar assets or liabilities in active markets; quoted prices for identical
assets or liabilities in markets with insufficient volume or infrequent
transactions (less active markets); or model-derived valuations in which
significant inputs are observable or can be derived principally from, or
corroborated by, observable market data.




Level
3




Level 3
applies to assets or liabilities for which there are unobservable inputs to the
valuation methodology that are significant to the measurement of the fair value
of the assets or liabilities.




The
Company’s financial instruments consist principally of cash and accounts
payable. Pursuant to SFAS No. 157, the fair value of our cash equivalents is
determined based on “Level 1” inputs, which consist of quoted prices in active
markets for identical assets. The Company believes that the recorded values of
all of the other financial instruments approximate their current fair values
because of their nature and respective maturity dates or durations.




The
Company’s operations are in Canada, which results in exposure to market risks
from changes in foreign currency rates. The financial risk is the risk to the
Company’s operations that arise from fluctuations in foreign exchange rates and
the degree of volatility of these rates. Currently, the Company does not use
derivative instruments to reduce its exposure to foreign currency
risk.




f)
            Foreign
      Currency Translation




The
Company’s functional and reporting currency is the United States dollar.
Monetary assets and liabilities denominated in foreign currencies are translated
in accordance with SFAS No. 52 “Foreign Currency
Translation”, using the exchange rate prevailing at the balance sheet
date. Gains and losses arising on settlement of foreign currency denominated
transactions or balances are included in the determination of income. Foreign
currency transactions are primarily undertaken in Canadian dollars. The Company
has not, to the date of these financials statements, entered into derivative
instruments to offset the impact of foreign currency fluctuations.




g)
            Comprehensive
      Loss




SFAS No.
130, “Reporting Comprehensive
Income,” establishes standards for the reporting and display of
comprehensive loss and its components in the financial statements. As at March
31, 2009 and 2008, the Company has no items that represent a comprehensive loss
and, therefore, has not included a schedule of comprehensive loss in the
financial statements.














F-5





-7-





Everest
Resources Corp.


(An
Exploration Stage Company)


Notes to
the Financial Statements


March 31,
2009


(Expressed
in US dollars)


(Unaudited)





2.
            Significant
      Accounting Policies (continued)






h)
            Mineral
      Property Costs




The
Company has been in the exploration stage since its inception on November 8,
2006 and has not yet realized any revenues from its planned operations. It is
primarily engaged in the acquisition and exploration of mining properties.
Mineral property exploration costs are expensed as incurred. Mineral property
acquisition costs are initially capitalized when incurred using the guidance in
EITF 04-02, “Whether Mineral
Rights Are Tangible or Intangible Assets”. The Company assesses the
carrying costs for impairment under SFAS No. 144, “Accounting for Impairment or
Disposal of Long Lived Assets” at each fiscal quarter end. When it has
been determined that a mineral property can be economically developed as a
result of establishing proven and probable reserves, the costs then incurred to
develop such property, are capitalized. Such costs will be amortized using the
units-of-production method over the estimated life of the probable reserve. If
mineral properties are subsequently abandoned or impaired, any capitalized costs
will be charged to operations.




i)
            Long-lived
      Assets




In
accordance with SFAS No. 144, “Accounting for the Impairment or
Disposal of Long-Lived Assets”, the Company tests long-lived assets or
asset groups for recoverability when events or changes in circumstances indicate
that their carrying amount may not be recoverable. Circumstances which could
trigger a review include, but are not limited to: significant decreases in the
market price of the asset; significant adverse changes in the business climate
or legal factors; accumulation of costs significantly in excess of the amount
originally expected for the acquisition or construction of the asset; current
period cash flow or operating losses combined with a history of losses or a
forecast of continuing losses associated with the use of the asset; and current
expectation that the asset will more likely than not be sold or disposed
significantly before the end of its estimated useful life. Recoverability is
assessed based on the carrying amount of the asset and its fair value which is
generally determined based on the sum of the undiscounted cash flows expected to
result from the use and the eventual disposal of the asset, as well as specific
appraisal in certain instances. An impairment loss is recognized when the
carrying amount is not recoverable and exceeds fair value.




j)
            Asset
      Retirement Obligations




The
Company accounts for asset retirement obligations in accordance with the
provisions of SFAS No. 143 “Accounting for Asset Retirement
Obligations”. SFAS No. 143 requires the Company to record the fair value
of an asset retirement obligation as a liability in the period in which it
incurs a legal obligation associated with the retirement of tangible long-lived
assets that result from the acquisition, construction, development and/or normal
use of the assets.




k)
            Income
      Taxes




The
Company accounts for income taxes using the asset and liability method in
accordance with SFAS No. 109, “Accounting for Income Taxes”.
The asset and liability method provides that deferred tax assets and liabilities
are recognized for the expected future tax consequences of temporary differences
between the financial reporting and tax bases of assets and liabilities, and for
operating loss and tax credit carryforwards. Deferred tax assets and liabilities
are measured using the currently enacted tax rates and laws that will be in
effect when the differences are expected to reverse. The Company records a
valuation allowance to reduce deferred tax assets to the amount that is believed
more likely than not to be realized.




l)
            Basic
      and Diluted Net Income (Loss) Per
Share




The
Company computes net income (loss) per share in accordance with SFAS No. 128,
"Earnings per Share".
SFAS No. 128 requires presentation of both basic and diluted earnings per share
(EPS) on the face of the income statement. Basic EPS is computed by dividing net
income (loss) available to common shareholders (numerator) by the weighted
average number of shares outstanding (denominator) during the period. Diluted
EPS gives effect to all dilutive potential common shares outstanding during the
period using the treasury stock method and convertible preferred stock using the
if-converted method. In computing Diluted EPS, the average stock price for the
period is used in determining the number of shares assumed to be purchased from
the exercise of stock options or warrants. Diluted EPS excludes all dilutive
potential shares if their effect is anti dilutive. At March 31, 2009, there are
no dilutive potential common shares.









F-6





-8-





Everest
Resources Corp.


(An
Exploration Stage Company)


Notes to
the Financial Statements


March 31,
2009


(Expressed
in US dollars)


(Unaudited)





2.   
      Significant Accounting Policies
(continued)






m)
            Stock-based
      Compensation




In
accordance with SFAS 123(R), “Share-Based Payments,” the
Company accounts for share-based payments using the fair value method. All
transactions in which goods or services are the consideration received for the
issuance of equity instruments are accounted for based on the fair value of the
consideration received or the fair value of the equity instrument issued,
whichever is more reliably measurable.




n)
            Recently
      Issued Accounting Pronouncements




In June
2008, the Financial Accounting Standards Board (“FASB”) issued FASB Staff
Position EITF 03-6-1, “Determining Whether Instruments
Granted in Share-Based Payment Transactions Are Participating
Securities”. FSP EITF 03-6-1 addresses whether instruments granted in
share-based payment transactions are participating securities prior to vesting,
and therefore need to be included in the computation of earnings per share under
the two-class method as described in FASB Statement of Financial Accounting
Standards No. 128, “Earnings
per Share.” FSP EITF 03-6-1 is effective for financial statements issued
for fiscal years beginning on or after December 15, 2008 and earlier adoption is
prohibited. The adoption of this statement is not expected to have a material
effect on the Company’s financial statements.




In May
2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee
Insurance Contracts – An interpretation of FASB Statement No.
60”.  SFAS 163 requires that an insurance enterprise recognize
a claim liability prior to an event of default when there is evidence that
credit deterioration has occurred in an insured financial obligation. It also
clarifies how Statement 60 applies to financial guarantee insurance contracts,
including the recognition and measurement to be used to account for premium
revenue and claim liabilities, and requires expanded disclosures about financial
guarantee insurance contracts. It is effective for financial statements issued
for fiscal years beginning after December 15, 2008, except for some disclosures
about the insurance enterprise’s risk-management activities. SFAS 163 requires
that disclosures about the risk-management activities of the insurance
enterprise be effective for the first period beginning after issuance. Except
for those disclosures, earlier application is not permitted.  The
adoption of this statement is not expected to have a material effect on the
Company’s financial statements.




In May
2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted
Accounting Principles”. SFAS 162 identifies the sources of accounting
principles and the framework for selecting the principles to be used in the
preparation of financial statements of nongovernmental entities that are
presented in conformity with generally accepted accounting principles in the
United States.  It is effective 60 days following the SEC’s approval
of the Public Company Accounting Oversight Board amendments to AU Section 411,
“The Meaning of Present Fairly
in Conformity With Generally Accepted Accounting Principles”. The
adoption of this statement is not expected to have a material effect on the
Company’s financial statements.




In March
2008, the FASB issued SFAS No. 161, “Disclosures about Derivative
Instruments and Hedging Activities – an amendment to FASB Statement No.
133”. SFAS No. 161 is intended to improve financial standards for
derivative instruments and hedging activities by requiring enhanced disclosures
to enable investors to better understand their effects on an entity's financial
position, financial performance, and cash flows. Entities are required to
provide enhanced disclosures about: (a) how and why an entity uses derivative
instruments; (b) how derivative instruments and related hedged items are
accounted for under Statement 133 and its related interpretations; and (c) how
derivative instruments and related hedged items affect an entity’s financial
position, financial performance, and cash flows.  It is effective for
financial statements issued for fiscal years beginning after November 15, 2008,
with early adoption encouraged.  The Company is currently evaluating
the impact of SFAS No. 161 on its financial statements. The adoption of this
statement is not expected to have a material effect on the Company’s financial
statements.














F-7





-9-





Everest
Resources Corp.


(An
Exploration Stage Company)


Notes to
the Financial Statements


March 31,
2009


(Expressed
in US dollars)


(Unaudited)





2.   
      Significant Accounting Policies
(continued)






n)
            Recently
      Issued Accounting Pronouncements
(continued)




In
December 2007, the FASB issued SFAS No. 141R, “Business
Combinations”.  This statement replaces SFAS 141 and defines
the acquirer in a business combination as the entity that obtains control of one
or more businesses in a business combination and establishes the acquisition
date as the date that the acquirer achieves control. SFAS 141R requires an
acquirer to recognize the assets acquired, the liabilities assumed, and any
noncontrolling interest in the acquiree at the acquisition date, measured at
their fair values as of that date. SFAS 141R also requires the acquirer to
recognize contingent consideration at the acquisition date, measured at its fair
value at that date. This statement is effective for fiscal years, and interim
periods within those fiscal years, beginning on or after December 15, 2008.
Earlier adoption is prohibited. The adoption of this statement is not expected
to have a material effect on the Company's financial statements.




In
December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in
Consolidated Financial Statements Liabilities –an Amendment of ARB No.
51”.  This statement amends ARB 51 to establish accounting and
reporting standards for the Noncontrolling interest in a subsidiary and for the
deconsolidation of a subsidiary. This statement is effective for fiscal years,
and interim periods within those fiscal years, beginning on or after December
15, 2008. Earlier adoption is prohibited. The adoption of this statement is not
expected to have a material effect on the Company's financial
statements.




o)     Recently
      Adopted Accounting Pronouncements




In
February 2007, the FASB issued SFAS No. 159, “The Fair Value Option for Financial
Assets and Financial Liabilities – Including an Amendment of FASB Statement No.
115”.  This statement permits entities to choose to measure
many financial instruments and certain other items at fair value. Most of the
provisions of SFAS No. 159 apply only to entities that elect the fair value
option. However, the amendment to SFAS No. 115 “Accounting for Certain
Investments in Debt and Equity Securities” applies to all entities with
available-for-sale and trading securities. SFAS No. 159 is effective as of the
beginning of an entity’s first fiscal year that begins after November 15, 2007.
Early adoption is permitted as of the beginning of a fiscal year that begins on
or before November 15, 2007, provided the entity also elects to apply the
provision of SFAS No. 157, “Fair Value Measurements”. The
adoption of this statement did not have a material effect on the Company's
financial statements.




In
September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements”. The
objective of SFAS No. 157 is to increase consistency and comparability in fair
value measurements and to expand disclosures about fair value
measurements.  SFAS No. 157 defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles,
and expands disclosures about fair value measurements. SFAS No. 157 applies
under other accounting pronouncements that require or permit fair value
measurements and does not require any new fair value measurements. The
provisions of SFAS No. 157 are effective for fair value measurements made in
fiscal years beginning after November 15, 2007. The adoption of this statement
did not have a material effect on the Company's financial
statements.





3.
            Mineral
      Property






On June
27, 2007, the Company acquired a 100% interest in certain mineral claims located
in Okanagan Region, British Columbia, Canada, known as the SM Mineral Claims, in
consideration of $1,000.  The Company intends to conduct a program of
mineral exploration on the SM Mineral Claims.  The exploration program
will include detailed prospecting, mapping, and soil sampling to explore the SM
Mineral Claims at a total estimated cost of $60,000. As at March 31, 2009, the
Company incurred a total of $4,582 for mineral property costs and recorded an
impairment loss of $1,000 on the acquisition of the mineral property as there
has been no certainty that the acquired mineral claim can be economically
developed or contains proven or probable reserves.





4.
            Related
      Party Transactions






During
the nine month period ended March 31, 2009, the Company recognized a total of
$4,500 (2008 - $4,500) for management services at $500 per month and $900 (2008
- $900) for rent at $100 per month provided by the President of the
Company.











F-8







-10-







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





This Form 10-Q for the period ended
March 31, 2009 includes a number of forward-looking statements that reflect our
current views with respect to future events and financial performance.
Forward-looking statements are often identified by words like: believe, expect,
estimate, anticipate, intend, project and similar expressions, or words which,
by their nature, refer to future events. You should not place undue certainty on
these forward-looking statements, which apply only as of the date of this
report. These forward-looking states are subject to certain risks and
uncertainties that could cause actual results to differ materially from
historical results or our predictions.





Plan
of Operation





We are a start-up, exploration stage
corporation and have not yet generated or realized any revenues from our
business activities.





Our auditors have issued a going
concern opinion. This means that there is substantial doubt that we can continue
as an on-going business for the next twelve months unless we obtain additional
capital to pay our bills. This is because we have not generated any revenues and
no revenues are anticipated until we begin removing and selling minerals,
however, there is no guarantee that we will find any minerals. Accordingly, we
must raise cash from sources other than the sale of minerals found on the
property. Our only other source for cash at this time was an investment by
others in our completed private placement. We believe the cash we raised will
allow us to stay in business for at least one year. Our success or failure will
be determined at least in part by what we find under the ground.





To meet our need for cash we raised
money from our private placement. If we find mineralized material and it is
economically feasible to remove the mineralized material, we will attempt to
raise additional money through a subsequent private placement, public offering
or through loans. If we do not have enough money to complete our exploration of
the property, we will have to find alternative sources, like a second public
offering, a private placement of securities, or loans from our officers or
others.





Our officers and sole director are
unwilling to make any commitment to loan us any money at this time. At the
present time, we have not made any arrangements to raise additional cash. If we
need additional cash and can't raise it, we will either have to suspend
activities until we do raise the cash, or cease activities entirely. Other than
as described in this paragraph, we have no other financing plans.





We do not own any interest in any
property, but merely have the right to conduct exploration activities on one
property. 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 deposit, a reserve.





We will be conducting research in the
form of exploration of the property. Our exploration program is explained in as
much detail as possible in the business section of our prospectus. We are not
going to buy or sell any plant or significant equipment during the next twelve
months. We will not buy any equipment until we have located a reserve and we
have determined it is economical to extract the minerals from the
land.





-11-





We do not intend to interest other
companies in the property if we find mineralized materials. We intend to try to
develop the reserves ourselves.





If we are unable to complete any phase
of exploration because we don’t have enough money, we will cease activities
until we raise more money. If we can’t or don’t raise more money, we will cease
activities. If we cease activities, we don’t know what we will do and we don’t
have any plans to do anything.





We do not intend to hire additional
employees at this time. All of the work on the property will be conduct by
unaffiliated independent contractors that we will hire. The independent
contractors will be responsible for surveying, geology, engineering,
exploration, and excavation. The geologists will evaluate the information
derived from the exploration and excavation and the engineers will advise us on
the economic feasibility of removing the mineralized material.





Results
of Operations





From
Inception on November 8, 2006 to March 31, 2009





We acquired the right to explore one
property containing one claim. We do not own any interest in any property, but
merely have the right to conduct exploration activities on one property. Mr.
Sidhu has registered the property in his name.





We are a start-up exploration stage
corporation and have not yet generated any revenues from our business
operations. We have not done any exploration work since our inception on
November 8, 2006.





Location and
Access





The property is comprised of nine
contiguous cells totaling 471 acres. The property is located
at  latitude is 49° 0’ 30" N and longitude 119° 33’ 30" W. The claim
is motor vehicle accessible from the Town of Osoyoos, British Columbia by
traveling 2 miles west along Highway #3 and then traveling south past Kilpoola
Lake for approximately 4.5 miles by gravel ranch roads to the mineral
claim.





The property is accessible by traveling
west of the Town of Osoyoos, British Columbia, on Provincial Highway #3 for two
miles to the Blue and Kilpoola Lakes cut-off. At this point a gravel ranch road
traveling south is taken for 4.5 miles to the property.





The Town of Osoyoos, British Columbia
which lies seven miles by road east of the mineral claim offers much of the
necessary infrastructure required to base and carry-out an exploration program
such as accommodations, communications, some equipment and supplies. Osoyoos,
British Columbia is highway accessible from Vancouver, British Columbia in a few
hours by traveling 300 miles over the Hope-Princeton Provincial Highway #3. The
overnight Greyhound bus service is a popular way to send-in samples and to
receive specialty equipment and supplies.








-12-





Physiography





The property lies within the Dry
Interior Belt of British Columbia and experiences about 15" of precipitation
annually of which about 20% may occur as a snow equivalent. The summers can
experience hot weather while the winters are generally mild and last from
December through March.




Much of the Okanogan Plateau area hosts
patchy conifer cover of western yellow pine (ponderosa pine) and Douglas fir
mingled with open range and deciduous groves of aspen and cottonwood. The
general area supports a modestly active logging industry. Mining holds an
historical and contemporary place in the development and economic well being of
the area. Many exploration projects are underway in the general
area.





The property area ranges in elevation
from 2,600 feet to 3,200 feet above sea level. The physiographic setting of the
property can be described as moderately rounded, open range, plateau terrain
that has been surficially altered both by the erosional and the depositional
(drift cover) effects of glaciation. Thickness of drift cover in the valleys may
vary considerably. The property area lies on the western side of the Okanogan
valley containing a series of north to south draining, large freshwater lakes.
In the immediate area of the mineral claim there are occurrences of a number of
small freshwater lakes and mineral-rich potholes.





Regional
Geology





The general property area is underlain
by northwest trending metamorphic rocks assigned to the Kobau Group thought to
be of Carboniferous period age. These units occur mainly as quartzite, schist
and greenstone and appear mainly derived from sedimentary rocks. These older
units are cut in many places by Jurassic-Cretaceous aged Nelson Plutonic Rocks
that exhibit a wide range in composition.





Local
Geology





The property is situated in the
Intermontane Belt of south-western British Columbia at the southern-end of the
Thompson plateau. The oldest rocks observed in the local area are those of the
Paleozoic era, Carboniferous period age Kobau Group. These units are observed to
be in contact with or intruded by younger Nelson Plutonic Rocks.





Property
Geology





The geology of the property may be
described as being underlain by metamorphic units of the Kobau Group that are
observed to be intruded by Nelson Plutonic Rocks mainly as syenites. Some or all
of these units may be found to host economic mineralization.





Mineralization





Within the general area there appears
pyrite-pyrrhotite-chalcopyrite mineralization as mesothermal replacements or
vein-type of occurrences that lie peripheral to the porphyry-type occurrence in
the enclosing and underlying intrusives and the overlying volcanic tuffs
(volcanic skarn). These occurrences appear in the massive volcanic units and in
medium grain-sized intrusive rock within steeply dipping to vertical
fissure/fault zones with some dissemination in the adjacent wallrock. Alteration
accompanying the pyritization appears as
epidote-chlorite-calcite-(sericite)-magnetite, or a propylitic alteration
assemblage.





-13-


History of Previous
Work





To our knowledge, there has never been
exploration activity on the property.





Our
Proposed Exploration Program





We are prospecting for gold. Our target
is mineralized material. Our success depends upon finding mineralized material.
Mineralized material is a mineralized body which has been delineated by
appropriate spaced drilling or underground sampling to support sufficient
tonnage and average grade of metals to justify removal. If we do not find
mineralized material or we cannot remove mineralized material, either because we
do not have the money to do it or because it is not economically feasible to do
it, we will cease activities and you will lose your investment. We plan to be
able to delineate a mineralized body, if one exists.  If our initial
exploration program, within nine months of beginning exploration.





We do not own any interest in any property, but
merely have the right to conduct exploration activities on one
property.





In addition, we may not have enough
money to complete our exploration of the property. If it turns out that we have
not raised enough money to complete our exploration program, we will try to
raise additional funds from a second public offering, a private placement or
loans. At the present time, we have not made any plans to raise additional money
and there is no assurance that we would be able to raise additional money in the
future. If we need additional money and cannot raise it, we will have to suspend
or cease activities.





We must conduct exploration to
determine what amount of minerals, if any, exist on the property and if any
minerals which are found can be economically extracted and profitably
processed.





The
property is undeveloped raw land. Detailed exploration and surveying has not
been initiated and will not be initiated until we raise money in this offering.
That is because we do not have money to start exploration. Once the offering is
concluded, we intend to start exploration activities. To our knowledge, no
previous exploration activities have taken place on the property. The only event
that has occurred is the registration of the property by Mr. McLeod and a
physical examination of the property. Mr. McLeod examined the surface and took
samples. The samples did not reveal anything other than the samples were
sedimentary rock containing quartz. We have not developed any quality
assurance/quality control protocols for our exploration program.  We
are small and are just trying to find out what is beneath the surface of the
property.  Mr. McLeod used a hammer, pick and sack to take samples.
While Mr. McLeod is a geologist, he is not an engineer, and accordingly his area
of expertise is limited to geological matters. Mr. McLeod did not use any
previous filed reports on the property. Before mineral retrieval can begin, we
must explore for and find mineralized material. After that has occurred we have
to determine if it is economically feasible to remove the mineralized material.
Economically feasible means that the costs associated with the removal of the
mineralized material will not exceed the price at which we can sell the
mineralized material. We cannot predict what that will be until we find
mineralized material.





-14-


We do not know if we will find
mineralized material.





From
October 1, 2007 to March 31, 2009





We did not conduct any operations in
the quarter ending March 31, 2009.   We intend to initiate
operations in the summer of 2009, weather permitting.





In the quarter ending March 31, 2009 we
had no revenues and $3,460 in expenses.  The expenses were comprised
of the following: $1,660 for general and administrative fees, $1,500 for
management fees and $300 for rent.





Milestones





The following are our milestones for
the next twelve months:





1.  Retain our consultant to
manage the exploration of the property.  Detailed prospecting and
mineralization mapping, followed by soil sampling and analyses. This phase may
take up to two months to complete. The cost estimate for this activity,
including retaining our consultant, is estimated to be $7,500.00.





2.  Next we intend we intend
to conduct magnetometer and electromagnetic, grid controlled  surveys
over the areas of interest as determined by the soil sampling and
analysis.  This program is expected to take three months to complete.
Included in this estimated cost are transportation, accommodation, board, grid
installation, both of the geophysical surveys, maps and report.  The
cost is anticipated to be $7,500.00.





3.   Finally, we intend
to induce polarization survey over grid controlled anomalous areas of interest
outlined by the above fieldwork. Core drilling to follow.  We plan to
drill 15 holes to a depth of 100 feet. The total cost will be $30,000. Core
drilling will be subcontracted to non-affiliated third parties. No power source
is needed for core drilling. The drilling rig operates on diesel fuel. All
electric power needed, for light and heating while on the property will be
generated from gasoline powered generators. We intend to have an independent
third party analyze the samples from the core drilling. Determine if mineralized
material is below the ground. If mineralized material is found, define the body.
We estimate that it will cost $4,500 to analyze the core samples and will take
30 days. This program is estimated to take one month to complete and includes
assays, detailed maps and reports.  We have allocated $45,000.00 for
this phase.





All funds for the foregoing activities
have been obtained from our private placement.








-15-





Limited
Operating History; Need for Additional Capital





There is no historical financial
information about us upon which to base an evaluation of our performance. We are
an exploration stage corporation and have not generated any revenues from
activities. We cannot guarantee we will be successful in our business
activities. Our business is subject to risks inherent in the establishment of a
new business enterprise, including limited capital resources, possible delays in
the exploration of our properties, and possible cost overruns due to price
increases in services.





To become profitable and competitive,
we will conduct exploration of our properties before we start production of any
minerals we may find.





We have no assurance that future
financing will be available to us on acceptable terms. If financing is not
available on satisfactory terms, we may be unable to continue, develop or expand
our activities. Equity financing could result in additional dilution to existing
shareholders.





Liquidity and Capital
Resources





As of the date of this report, we have
yet to generate any revenues from our business activities.





We issued 5,000,000 restricted shares
of common stock through a private placement pursuant to Regulation S of the
Securities Act of 1933 to Mr. Sidhu, one of our former officers and our former
sole member of our board of directors in November 2006, in consideration of
$50.  The shares were sold to non-US persons and all transactions
closed outside the United States of America. This was accounted for as a
purchase of shares of common stock.





In June 2007, we completed a private
placement of 1,600,000 restricted shares of common stock at a price of $0.05 per
share, pursuant to the exemption from registration contained in
Regulation  S of the Securities Act of 1933 and raised $80,000. Part
of this private placement included 100,000 restricted shares of common stock to
Mr. Dhami, our former vice president in consideration of $5,000.  All
of the shares were sold to non-US persons and all transactions closed outside
the United States of America. This was accounted for as a purchase of shares of
common stock.





As of March 31, 2009, our total assets
were $5,535 and our total liabilities were $9,909.








ITEM
      3.
            QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK





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.











-16-





ITEM
      4.
            CONTROLS
      AND PROCEDURES.





Under the supervision and with the
participation of our management, including the Principal Executive Officer and
Principal Financial Officer, we have evaluated the effectiveness of our
disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as
of the end of the period covered by this report. Based on that evaluation, the
Principal Executive Officer and Principal  Financial Officer have
concluded that these disclosure controls and procedures are
effective.





Internal
Controls Over Financial Reporting





There were no changes in our internal
control over financial reporting during the quarter ended March 31, 2009 that
have materially affected, or are reasonably likely to materially affect, our
internal control over financial reporting.








PART
II. OTHER INFORMATION





ITEM
      6.
            EXHIBITS.





The
following documents are included herein:





Exhibit
      No.
            Document
      Description31.1
            Certification
      of Principal Executive Officer and Principal Financial Officer pursuant to
      Section 302 of the Sarbanes-Oxley Act of 2002.32.1
            Certification
      of Chief Executive Officer and Chief Financial Officer pursuant to Section
      906 of the Sarbanes-Oxley Act of
2002.



















-17-





SIGNATURES





Pursuant to the requirements of the
Securities Exchange Act of 1934, this report has been signed below by the
following person on behalf of the Registrant and in the capacities on this
13th
day of May, 2009.





EVEREST
      RESOURCES CORP.(Registrant)BY:
            MOHAN SINGHMohan
      Singh, President, Principal Executive Officer, Secretary, Treasurer,
      Principal Financial Officer, Principal Accounting Officer, and sole member
      of the Board of Directors.


































-18-





EXHIBIT
INDEX





Exhibit
      No.
            Document
      Description31.1
            Certification
      of Principal Executive Officer and Principal Financial Officer pursuant to
      Section 302 of the Sarbanes-Oxley Act of 2002.32.1
            Certification
      of Chief Executive Officer and Chief Financial Officer pursuant to Section
      906 of the Sarbanes-Oxley Act of
2002.




































-19-