UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
 
 FORM
10-Q
  (Mark
One)
  R
              QUARTERLY
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
  For the
quarterly period ended February 28, 2009
 or
  £
              TRANSITION
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934
  For the transition period from __________ to ______________
  Commission
File Number:  000-51716
 
 SLAP,
INC.
 (Exact
name of registrant as specified in its charter)
 
 Nevada
              98-0531819(State
      or other jurisdiction of incorporation or organization)
              (I.R.S.
      Employer Identification No.)
 
 565 Silvertip Road, Canmore,
      Alberta
              T1W 3K8(Address
      of principal executive offices)
              (Zip
      Code)
  (403)
609-0311
 (Registrant’s
telephone number, including area code)
  (Former name, former address and former
fiscal year, if changed since last report)
 
 Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 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.
 
 (1)
      Yes R  No
      £(2)
      Yes R  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” and “smaller reporting company” in Rule 12b-2 of the
Exchange Act.
 
 Large Accelerated
filer       £                                           Accelerated
filer     £
 Non-accelerated
filer                                           £                                           Smaller
reporting Company   [X]
 (Do not check if a smaller reporting
company)
 
 Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act.)Yes [ ]  No [X]
 
 APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
 PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
 
 Indicate by check mark whether the
registrant filed all documents and reports required to be filed by Section 12,
13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.Yes £No £
  
  APPLICABLE
ONLY TO CORPORATE ISSUERS
 
 Indicate
the number of shares outstanding of each of the issuer’s classes of common
stock, as of the latest practicable date.
  2,800,000
common shares outstanding as of March 24, 2009.
  
  SLAP,
INC.
 TABLE
OF CONTENTS
 
 
 PagePART
      I – FINANCIAL INFORMATIONItem
      1.                      Financial
      Statements
              F-1
      to F-6Item
      2.           Management’s
      Discussion and Analysis of Financial Condition and Results of
      Operations
              5Item
      3.                    
       Quantitative and Qualitative Disclosures About Market
      Risk
              6Item
      4T.                   Controls
      and Procedures
              6PART
      II – OTHER INFORMATIONItem
      1.                      Legal
      Proceedings
              7Item
      1A.                   Risk
      Factors
              7Item
      2.                      Unregistered
      Sales of Equity Securities and Use of Proceeds
              7Item
      3.                      Defaults
      Upon Senior Securities
              8Item
      4.                      Submission
      of Matters to a Vote of Security Holders
              8Item
      5.                      Other
      Information
              8Item
      6.                      Exhibits
              8Signatures
              9
  3
  PART
I
  ITEM
1.   FINANCIAL
STATEMENTS
 
 The
accompanying unaudited condensed financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and with the instructions for Form 10-Q and Article 210 8-03 of
Regulation S-X.  Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements.  In the opinion of management, all
adjustments considered necessary for a fair presentation have been
included.  All such adjustments are of a normal recurring
nature.  Operating results for the six months ended February 28, 2009,
are not necessarily indicative of the results that may be expected for the
fiscal year ending August 31, 2009.  For further information refer to
the financial statements and footnotes thereto included in the Company’s Annual
Report on Form 10-K for the year ended August 31, 2008.
 
 PageUnaudited
      Financial StatementsUnaudited
      Balance Sheets
              F-1Unaudited
      Statements of Operations
              F-2Unaudited
      Statements of Cash Flows
              F-3Notes
      to Unaudited Financial Statements
              F-4
      to F-6
 
  4
  
 SLAP,
INC.
 (A
Development Stage Company)
 BALANCE
SHEETS
 (Stated in US
Dollars)
 (Unaudited)
 
 ASSETS
                        
                        February
      28,
                          2009
                        
                        
                        August
      31,
                          2008CurrentCash
                        
                        $
                        122,814
                        
                        
                        $
                        13,668Amounts
      Receivable
                        
                        
                        2,446
                        
                        
                        
                        2,134Deferred
      offering costs
                        
                        
                        -
                        
                        
                        
                        38,200Total
      Current Assets
                        
                        $
                        125,260
                        
                        
                        $
                        54,002LIABILITIESCurrentAccounts payable and accrued
      liabilities
                        
                        $
                        6,086
                        
                        
                        $
                        34,490STOCKHOLDERS’ EQUITYCapital
      stock – Note 3Authorized:75,000,000
      common shares, par value $0.001 per shareIssued and
      outstanding:2,800,000
      and 1,300,000 common shares at
                          February
      28, 2009 and August 31, 2008, respectively
                        
                        
                        2,800
                        
                        
                        
                        1,300Additional Paid-in
      Capital
                        
                        
                        174,000
                        
                        
                        
                        63,700Deficit
      accumulated during the development stage
                        
                        
                        (57,626
                        )
                        
                        
                        (45,488
                        )Total
      Stockholders’ Equity
                        
                        
                        119,174
                        
                        
                        
                        19,512Total
      Liabilities and Stockholders’ Equity
                        
                        $
                        125,260
                        
                        
                        $
                        54,002
  The
accompanying notes are an integral part of these financial
statements.
  F-1
  SLAP,
INC.
 (A
Development Stage Company)
 STATEMENTS
OF OPERATIONS
 For
the three and six months ended February 28, 2009 and February 29,
2008;
 and
the period from Inception (March 19, 2007) to February 28, 2009
 (Stated
in US Dollars)
 (Unaudited)
 
 
 Three
      Months ended February 28,2009
                
                
                Six
      Monthsended
      February 28,2009
                
                
                Three
      Months ended February 29, 2008
                
                
                Six
      Months ended February 29, 2008
                
                
                From
      Inception
                  (March
      19, 2007)
                  to
      February 28, 2009ExpensesOrganizational
      costs
                
                $
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                
                
                
                $
                1,250Dry
      hole costs
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                24,078Professional
      fees
                
                
                5,048
                
                
                
                10,490
                
                
                
                2,000
                
                
                
                5,000
                
                
                
                30,435Office
      and administration
                
                
                918
                
                
                
                1,648
                
                
                
                178
                
                
                
                222
                
                
                
                1,863Net
      loss for the period
                
                $
                (5,966
                )
                
                $
                (12,138
                )
                
                $
                (2,178
                )
                
                $
                (5,222
                )
                
                $
                (57,626
                )Basic
      and diluted loss per share
                
                $
                (0.00
                )
                
                $
                (0.01
                )
                
                $
                (0.00
                )
                
                $
                (0.00
                )Weighted
      average number of
                  shares
      outstanding
                
                
                2,800,000
                
                
                
                2,195,028
                
                
                
                1,300,000
                
                
                
                1,300,000
 
  The
accompanying notes are an integral part of these financial
statements.
  F-2
  SLAP,
INC.
 (A
Development Stage Company)
 STATEMENTS
OF CASH FLOWS
 For
the three and six months ended February 28, 2009 and February 29,
2008;
 and
the period from Inception (March 19, 2007) to February 28, 2009
 (Stated in US
Dollars)
 (Unaudited)
 
 Three
      Months
                                ended
      February 28, 2009
                              
                              
                              Six
      Months
                                ended
      February 28, 2009
                              
                              
                              Three
      Months
                                ended
      February 29, 2008
                              
                              
                              Six
      Months
                                ended
      February 29, 2008
                              
                              
                              From
      Inception
                                (March
      19, 2007)
                                to
      February 28, 2009Cash
      flows used in Operating Activities:Net
      loss for the period
                              
                              $
                              (5,966
                              )
                              
                              $
                              (12,138
                              )
                              
                              $
                              (2,178
                              )
                              
                              $
                              (5,222
                              )
                              
                              $
                              (57,626
                              )Adjustment
      to reconcile net loss to net cash used by operating
      activities:Deposit
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -Amounts
      receivable
                              
                              
                              (102
                              )
                              
                              
                              (312
                              )
                              
                              
                              (669
                              )
                              
                              
                              (669
                              )
                              
                              
                              (2,446
                              )Deferred
      offering costs
                              
                              
                              -
                              
                              
                              
                              38,200
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              -Prepaid
      expenses
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              (13,200
                              )
                              
                              
                              (13,843
                              )
                              
                              
                              -Accounts
      payable and accrued liabilities
                              
                              
                              (9,100
                              )
                              
                              
                              (28,404
                              )
                              
                              
                              2,000
                              
                              
                              
                              2,000
                              
                              
                              
                              6,086Net
      cash used in operating activities
                              
                              
                              (15,168
                              )
                              
                              
                              (2,654
                              )
                              
                              
                              (14,047
                              )
                              
                              
                              (17,734
                              )
                              
                              
                              (53,986
                              )Cash
      flows from Financing Activities:Issuance
      of common shares
                              
                              
                              -
                              
                              
                              
                              111,800
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              176,800Net
      cash provided by financing activities
                              
                              
                              -
                              
                              
                              
                              111,800
                              
                              
                              
                              -
                              
                              
                              
                              -
                              
                              
                              
                              176,800Increase
      (decrease) in cash during the period
                              
                              
                              (15,168
                              )
                              
                              
                              109,146
                              
                              
                              
                              (14,047
                              )
                              
                              
                              (17,734
                              )
                              
                              
                              122,814Cash,
      beginning of period
                              
                              
                              137,982
                              
                              
                              
                              13,668
                              
                              
                              
                              32,715
                              
                              
                              
                              36,402
                              
                              
                              
                              -Cash,
      end of period
                              
                              $
                              122,814
                              
                              
                              $
                              122,814
                              
                              
                              $
                              18,668
                              
                              
                              $
                              18,668
                              
                              
                              $
                              122,814Supplemental
      disclosure of cash flow information:Cash
      paid for:Interest
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -Income
      taxes
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
                              
                              
                              $
                              -
  The
accompanying notes are an integral part of these financial
statements.
  F-3
  SLAP,
INC.
 (A
Development Stage Company)
 NOTES TO
THE UNAUDITED FINANCIAL STATEMENTS
 For the
six months ended February 28, 2009
 
 Note
1- Basis of presentation
 
 The
accompanying unaudited condensed financial statements of SLAP, Inc. (the
“Company”) have been prepared in accordance with Securities and Exchange
Commission requirements for interim financial statements. Therefore, they do not
include all of the information and footnotes required by accounting principles
generally accepted in the United States for complete financial statements. The
financial statements should be read in conjunction with the Company’s audited
financial statements for the year ended August 31, 2008.
 
 The
interim financial statements present the balance sheet, statements of operations
and cash flows of SLAP, Inc. The financial statements have been prepared in
accordance with accounting principles generally accepted in the United
States.
 
 The
interim financial information is unaudited.  In the opinion of
management, all adjustments necessary to present fairly the financial position
as of February 28, 2009, and the results of operations, and cash flows presented
herein have been included in the financial statements. All such adjustments are
of a normal and recurring nature.  Interim results are not necessarily
indicative of results of operations for the full year.
 
 Note
2 – Recently Issued Accounting Pronouncements
  In
December 2007, the FASB issued SFAS No. 141 (revised 2007), BUSINESS
COMBINATIONS. This revision to SFAS No. 141 requires an acquirer to recognize
the assets acquired, the liabilities assumed, and any noncontrolling interest in
the acquiree at the acquisition date, at their fair values as of the acquisition
date, with limited exceptions. This revision also requires that
acquisition-related costs be recognized separately from the assets acquired and
that expected restructuring costs be recognized as if they were a liability
assumed at the acquisition date and recognized separately from the business
combination. In addition, this revision requires that if a business combination
is achieved in stages, that the identifiable assets and liabilities, as well as
the noncontrolling interest in the acquiree, be recognized at the full amounts
of their fair values. The Company is currently not pursuing any business
combinations and does not plan to do so in the future, so this statement likely
will not have any impact on the Company.
 
 In
December 2007, the FASB issued SFAS No. 160, NONCONTROLLING INTERESTS IN
CONSOLIDATED FINANCIAL STATEMENTS, an amendment of ARB No. 51.
The objective of this statement is to improve the relevance, comparability, and
transparency of the financial statements by establishing accounting and
reporting standards for the Noncontrolling interest in a subsidiary and for the
deconsolidation of a subsidiary. The Company believes that this statement will
not have any impact on its financial statements, unless it deconsolidates a
subsidiary.
  In March
2008, the FASB issued SFAS No. 161, DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS AND
HEDGING ACTIVITIES (An amendment to SFAS No. 133). This statement is effective
for financial statements issued for fiscal years and interim periods beginning
after November 15, 2008 and requires enhanced disclosures with respect to
derivative and hedging activities. The Company will comply with the disclosure
requirements of this statement if it utilizes derivative instruments or engages
in hedging activities upon its effectiveness.
 
  F-4
  SLAP,
INC.
 (A
Development Stage Company)
 NOTES TO
THE UNAUDITED FINANCIAL STATEMENTS - continued
 For the
six months ended February 28, 2009
 
 Note
2 – Recently Issued Accounting Pronouncements (continued)
  In
April 2008, the FASB issued FASB Staff Position No. 142-3,
DETERMINATION OF THE USEFUL LIFE OF INTANGIBLE ASSETS (“FSP No. 142-3”) to
improve the consistency between the useful life of a recognized intangible asset
(under SFAS No. 142) and the period of expected cash flows used to measure
the fair value of the intangible asset (under SFAS No. 141(R)). FSP
No. 142-3 amends the factors to be considered when developing renewal or
extension assumptions that are used to estimate an intangibleasset’s useful life under
SFAS No. 142. The guidance in the new staff position is to be applied
prospectively to intangible assets acquired after December 31, 2008. In
addition, FSP No. 142-3 increases the disclosure requirements related
torenewal or
extension assumptions. The Company does not believe implementation of FSP No.
142-3 will have a material impact on its financial statements.
  In May
2008, the FASB issued SFAS No. 162, THE HIERARCHY OF GENERALLY ACCEPTED
ACCOUNTING PRINCIPLES.  This statement 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 (GAAP) in
the United States (the GAAP hierarchy).  This statement 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.”
  In May
2008, the FASB issued SFAS No. 163,ACCOUNTING FOR FINANCE
GUARANTEE INSURANCE CONTRACTS – AN INTERPRETATION OF FASB STATEMENT NO. 60.The premium revenue
recognition approach for a financial guarantee insurance contract links premium
revenue recognition to the amount of insurance protection and the period in
which it is provided. For purposes of this statement, the amount of insurance
protection provided is assumed to be a function of the insured principal amount
outstanding, since the premium received requires the insurance enterprise to
stand ready to protect holders of an insured financial obligation from loss due
to default over the period of the insured financial obligation.  This
Statement is effective for financial statements issued for fiscal years
beginning after December 15, 2008.
  In
June 2008, the FASB issued FASB Staff Position Emerging Issues Task
Force (EITF) No. 03-6-1, DETERMINING WHETHER INSTRUMENTS GRANTED IN
SHARE-BASED PAYMENT TRANSACTIONS ARE PARTICIPATING SECURITIES (“FSP EITF No.
03-6-1”).  Under FSP EITF No. 03-6-1, unvested share-based payment
awards that contain rights to receive nonforfeitable dividends (whether paid or
unpaid) are participating securities, and should be included in the two-class
method of computing EPS. FSP EITF No. 03-6-1 is effective for fiscal years
beginning after December 15, 2008, and interim periods within those years,
and is not expected to have a significant impact on the Company’s financial
statements.
 
 In
November 2008, the Emerging Issues Task Force (“EITF”) issued Issue
No. 08-7, Accounting for
Defensive Intangible Assets(“EITF 08-7”). EITF 08-7 applies to all
acquired intangible assets in which the acquirer does not intend to actively use
the asset but intends to hold (lock up) the asset to prevent its competitors
from obtaining access to the asset (a defensive asset), assets that the acquirer
will never actually use, as well as assets that will be used by the acquirer
during a transition period when the intention of the acquirer is to discontinue
the use of those assets. EITF 08-7 is effective as of January 1, 2009. The
Company does not expect the adoption of EITF 08-7 to have a material impact on
its financial statements.
 
 None of
the above new pronouncements has current application to the Company, but may be
applicable to the Company's future financial reporting.
  F-5
  SLAP,
INC.
 (A
Development Stage Company)
 NOTES TO
THE UNAUDITED FINANCIAL STATEMENTS - continued
 For the
six months ended February 28, 2009
 
 Note
3 – Common Stock
 
 On
November 12, 2008 we accepted subscriptions under a prospectus offering to raise
a total of $150,000 at $0.10 per share from 47 investors, raising total proceeds
of $150,000. No commissions were paid on any of the subscriptions.  A
total of $38,200 in deferred offering costs relating to such offering have been
offset to additional paid in capital.
  F-6
  
 ITEM
2.                      MANAGEMENT'S DISCUSSION
AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 
  FORWARD-LOOKING
STATEMENTS
  This
quarterly report contains forward-looking statements relating to future events
or our future financial performance.  In some cases, you can identify
forward-looking statements by terminology such as "may", "should", "intends",
"expects", "plans", "anticipates", "believes", "estimates", "predicts",
"potential", or "continue" or the negative of these terms or other comparable
terminology.  These statements are only predictions and involve known
and unknown risks, uncertainties and other factors which may cause our or our
industry's actual results, levels of activity or performance to be materially
different from any future results, levels of activity or performance expressed
or implied by these forward-looking statements.
  Such
factors include, among others, the following:  international, national
and local general economic and market
conditions:  demographic  changes; the ability of the
Company to sustain,  manage or  forecast  its
growth;  the ability of the Company to successfully make and integrate
acquisitions;  raw material costs and availability;  new
product  development
and  introduction;  existing  government
regulations  and  changes  in,  or  the  failure  to  comply  with,   government
regulations;  adverse publicity;  competition; the loss of
significant customers or
suppliers;  fluctuations  and  difficulty in
forecasting  operating  results; changes in business
strategy or
development  plans;  business  disruptions;  the
ability  to
attract  and  retain  qualified  personnel;  the  ability
to protect technology; and other factors referenced in this and previous
filings.
  Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity or
performance.  Except as required by applicable law, including the
securities laws of the United States, we do not intend to update any of the
forward-looking statements to conform these statements to actual
results.
 
 Given
these uncertainties, readers of this Form 10-Q and investors are cautioned not
to place undue reliance on such forward-looking statements.  The
Company disclaims any obligation to update any such factors or to publicly
announce the result of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.
  All
dollar amounts stated herein are in US dollars unless otherwise
indicated.
 
 The management’s discussion and analysis of our
financial condition and results of operations are based upon our financial
statements, which have been prepared in accordance with accounting principles
generally accepted in the United States of America ("GAAP").  The
following discussion of our financial condition and results of operations should
be read in conjunction with our audited financial statements for the years ended
August 31, 2008, and 2007, together with notes thereto.  As used in this
quarterly report, the terms "we", "us", "our", and the "Company" mean SLAP,
Inc., unless the context clearly requires otherwise.
 
 Plan
of Operation
 
 We have
begun our business operations by acquiring a 2.5% working interest in an oil and
gas drilling prospect in Alberta, Canada.   Drilling of our first
well commenced on June 30, 2008 and the well was declared a dry hole by the
operator on September 26, 2008.   We have the option to
participate in a further 7 wells on this property.  We are currently
determining whether to elect to participate in any further drilling on these
leases.  With the recent decline in oil and gas prices, we do not
expect to commence any drilling activity at this time and we will only determine
to drill after we have carefully evaluated any further drilling opportunities on
our current leases.   Should we determine not to participate in
further drilling on our existing property, we will seek other exploration and
development prospects in the Province of Alberta, Canada or
elsewhere.  We may also seek producing properties that can be acquired
at attractive discounts to cash flow based on the current oil and gas
pricing.  We believe that some of the smaller producers may look to
divest certain of their producing assets on attractive terms in this current
operating environment.
  5
 
 We are a
development stage company.  We currently have no revenue and no
significant assets except that relating to the Farm-out Agreement described
herein.
 
 During
the twelve months following the filing of this Quarterly Report we plan to
review our drilling prospects on our current leases and to review other
acquisition opportunities for production acquisitions as well as exploration and
development prospects, both oil and gas..  We will focus on
acquisitions of oil and gas properties where management believes further
exploitation and development opportunities exist or we can acquire production at
attractive rates and on favorable terms.  We plan to pursue a balanced
portfolio of crude oil and natural gas prospects.  In selecting
exploration, exploitation,  development and production prospects, our
management will choose those that offer an appropriate combination of risk and
economic reward, recognizing that all drilling involves substantial risk and
that a high degree of competition exists for good prospects.  We do
not intend to purchase other oil and gas companies, but rather identify oil and
gas projects that other companies have made available on the open
market.  No assurance can be given that any acquisitions or
exploration or development will prove successful in establishing commercially
recoverable reserves.
 
 Currently,
we will not undertake any prospects that require operatorship as we do not have
sufficient staff or expertise to do so.  We will initially concentrate
on acquiring small working interests in exploration properties or development or
producing properties where the costs fit in with our proposed budget and for
only those properties that have qualified operators.  We intend to
seek out, analyze and complete corporate mergers and asset acquisitions where
value creation opportunities have been identified.
 
 We hope
to acquire exploitation and exploration drilling prospects, but may consider
acquiring properties that have existing production in order to generate cash
flow for operations during our start up.  There can be no assurance
that we will be successful in acquiring any properties that will allow us to
generate revenues.
 
 We will
endeavor to acquire and explore for longer life reserves that will withstand
several pricing cycles and will attempt to focus our asset base on a select
number of areas with desirable characteristics.  It is anticipated
that the number and diversity of these focus areas will expand with the growth
of our business.
 
 Off-balance
Sheet Arrangements
 
 We have
no off-balance sheet arrangements.
 
 ITEM
3.                                QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
 
 Not
applicable.
  ITEM
4T.                             CONTROLS
AND PROCEDURES
 
 Evaluation
of Disclosure Controls and Procedures
 
 Under the
supervision and with the participation of our management, including our
principal executive officer and principal financial officer, we conducted an
evaluation of our disclosure controls and procedures, as such term is defined
under Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as
amended (Exchange Act), as of February 28, 2009.  Based on this
evaluation, our principal executive officer and principal financial officer
concluded that our disclosure controls and procedures are effective in alerting
them on a timely basis to material information relating to our Company required
to be included in our reports filed or submitted under the Exchange
Act.
 
 Changes
in Internal Controls
 
 There
were no significant changes (including corrective actions with regard to
significant deficiencies or material weaknesses) in our internal controls over
financial reporting that occurred during the quarter ended February 28, 2009,
that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.
  6
  PART
II – OTHER INFORMATION
   ITEM
1.         
LEGAL PROCEEDINGS
 
 The
Company is not a party to any legal proceedings and is not aware of any pending
legal proceedings as of the date of this Form 10-Q.
 
 ITEM
1A.                            
RISK FACTORS
 
 Not
Applicable
 
 ITEM
2.                                UNREGISTERED
SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 
 On August
13, 2008 our Registration Statement on Form S-1 under Commission file number
333-151228 was declared effective, enabling us to offer up to 1,500,000 shares
of common stock of our company at a price of $0.10 per share. On November 12,
2008 we accepted subscriptions for the entire offering from 47 investors,
raising a total of $150,000.  No commissions were paid on any of the
above issuance.  As of the date of this filing, there are 2,800,000
issued and outstanding shares of common stock of which 300,000 shares are held
by our officers and directors.
 
 Following
is the use of proceeds for actual expenses incurred for our account from August
13, 2008 to February 28, 2009 in connection with the issuance and distribution
of the securities:
 
 Expense
                  
                  Amount
      of direct or indirect payments to directors, officers, general partners,
      10% shareholders or affiliates of the Issuer
                    $
                  
                  
                  Amount
      of direct or indirect payments to others
                    $Transfer
      agent
                  
                  
                  0
                  
                  
                  
                  0Legal
      and Accounting
                  
                  
                  0
                  
                  
                  
                  619Costs
      of the offering
                  
                  
                  0
                  
                  
                  
                  25,660Office
      and Administration
                  
                  
                  0
                  
                  
                  
                  703Total
                  
                  
                  0
                  
                  
                  
                  26,982
 
 Of the
$26,982 detailed above a total of $13,668 was settled from working capital
on-hand at the time of the closing of the offering, with the remaining $13,314
in expenses incurred allocated for settlement from offering
proceeds.  Upon settlement of the above amounts in full, net proceeds
from the offering will total $136,686.
 
 Following
is a table detailing the use of net offering proceeds from the offering of the
securities.
 
 Expenses
                
                Amount of directorindirect payments to
      directors, officers, general partners, 10% shareholders or affiliates of
      the Issuer
                  $
                
                
                Amount
      of direct or indirect payments to others
                  $Exploration
      and development activities
                
                
                0
                
                
                
                0Legal
      and Accounting
                
                
                0
                
                
                
                12,205Consulting
                
                
                0
                
                
                
                1,689Office
      Furniture, Equipment and Supplies
                
                
                0
                
                
                
                0Miscellaneous
      Administration Expenses
                
                
                0
                
                
                
                1,275Working
      capital
                
                
                0
                
                
                
                0TOTAL
                
                
                0
                
                
                
                15,169
 
  7
  The
proceeds from our offering are to be used to fund our operations as described in
the S-1 offering document incorporated for reference herein.
 
 ITEM
3.         
DEFAULTS UPON SENIOR SECURITIES
 
 Not
Applicable
 
 ITEM
4.    SUBMISSION OF MATTERS TO A VOTE OF
SECURITY HOLDERS
 
 None.
 
 ITEM
5.          OTHER
INFORMATION
 
 The
Company is presently preparing to file a Form 15C-211 for quotation on the OTCBB
and expects to file during the fiscal quarter ending May 31, 2009.
 
 ITEM
6.         
EXHIBITS
 
 Number
                      Description3.1
                      Articles
      of Incorporation.
                      Incorporated
      by reference to the Exhibits attached to the Corporation’s Form S-1 filed
      with the SEC on May 29, 20083.2
                      Bylaws.
                      Incorporated
      by reference to the Exhibits attached to the Corporation’s Form S-1 filed
      with the SEC on May 29, 20085
                      Legal
      Opinion
                      Incorporated
      by reference to the Exhibits attached to the Corporation’s Form S-1 filed
      with the SEC on May 29, 200810.1
                      Farm-Out
      Agreement dated July 9, 2007 between Dar Energy Inc. and SLAP,
      Inc.
                      Incorporated
      by reference to the Exhibits attached to the Corporation’s Form S-1 filed
      with the SEC on May 29, 200831.1
                      Section
      302 Certification - Principal Executive Officer
                      Filed
      herewith31.2
                      Section
      302 Certification - Principal Financial Officer
                      Filed
      herewith32.1
                      Certification
      Pursuant to 18 U.S.C.
                        Section
      1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002
                      Filed
      herewith32.2
                      Certification
      Pursuant to 18 U.S.C.
                        Section
      1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002
                      Filed
      herewith
   8
  SIGNATURES
 
 Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized, on this 7th day of April,
2009.
 
 By:/s/ David
Wehrhahn
 Name:
David Wehrhahn
 Title:
President/CEO, principal executive
officer                                                                                                Dated:  April 7,
2009
 
 By: /s/ Kelly
Warrack
 Name:
Kelly Warrack
 Title:
Chief Financial Officer, principal financial
officer                                                                                    Dated:  April 7,
2009
  9