U.S. Securities and Exchange Commission
                         Washington, DC 20549
                              Form 10-QSB

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

    For the quarterly period ended January 31, 2007.

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

    For the transition period from ________ to________

                     Commission File number 0-26853

                      BF Acquisition Group V, Inc.
----------------------------------------------------------------------
  (Exact name of small business issuer as specified in its charter)

                               Florida
----------------------------------------------------------------------
    (State or other jurisdiction of incorporation or organization)

                             65-0913588
----------------------------------------------------------------------
                  (IRS Employer Identification No.)

          2501 Turk Boulevard, San Francisco, California 94118
----------------------------------------------------------------------
                 (Address of principal executive offices)

                           (415) 831-1974
----------------------------------------------------------------------
                     (Issuer's telephone number)

----------------------------------------------------------------------
        (Former name, former address, and former fiscal year,
                      if changed since last report)

       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 past 90 days. Yes [X]    No [ ]

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

                  APPLICABLE ONLY TO CORPORATE ISSUERS

       State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date: As of
March 14, 2007, there were approximately 1,015,000  shares of common
stock, $0.001 par value, issued and outstanding.

       Transitional Small Business Disclosure Format (check one):

                Yes [ ]                           No [X]

<PAGE>


                     BF ACQUISITION GROUP V, INC.

                         Form 10-QSB Index

                         January 31, 2007
                                                                 Page

Part I: Financial Information..................................    3

        Item 1. Financial Statements...........................    4

        Balance Sheets as of January 31, 2007
        And April 30, 2006 (Unaudited).........................    6

        Statements of Operations For the Three
        And Nine Months Ended January 31, 2007 and 2006 and
        For the Period April 15, 1999 (Date of Inception)
        To January 31, 2007 (Unaudited)........................    7

        Statement of Stockholders' Deficit for the
        Period April 15, 1999 (Date of Inception) to
        January 31, 2007 (Unaudited)...........................    8

        Statements Of Cash Flows For the Nine
        Months Ended January 31, 2007 and 2006 and
        For The Period April 15, 1999 (Date of Inception)
        To January 31, 2007 (Unaudited)........................    9

        Notes To Financial Statements (Unaudited)..............    10

        Item 2. Management's Plan of Operation.................    12

        Item 3. Controls and Procedures........................    13

Part II:   Other Information...................................    13

        Item 1.   Legal Proceedings............................    13

        Item 2.   Unregistered Sales of Equity Securities
                  and Use of Proceeds..........................    13

        Item 3.   Defaults Upon Senior Securities..............    13

        Item 4.   Submission of Matters to a Vote of
                  Security Holders.............................    13

        Item 5.   Other Information............................    13

        Item 6.   Exhibits.....................................    14

Signatures.....................................................    14


                               2

<PAGE>

                             PART I

                       FINANCIAL INFORMATION

Item 1.  Financial Statements






































                               3

<PAGE>




























                    BF ACQUISITION GROUP V, INC.
                   (A Development Stage Company)

                        FINANCIAL STATEMENTS

                         JANUARY 31, 2007

                            (UNAUDITED)


















                               4

<PAGE>

                  BF ACQUISITION GROUP V, INC.
                  (A Development Stage Company)

                           CONTENTS

                                                          PAGE
                                                          ----

     BALANCE SHEETS                                        F-1

     STATEMENTS OF OPERATIONS                              F-2

     STATEMENTS OF STOCKHOLDERS' EQUITY                    F-3

     STATEMENTS OF CASH FLOWS                              F-4

     NOTES TO FINANCIAL STATEMENTS                      F-5 - F-6















                               5

<PAGE>


                  BF ACQUISITION GROUP V, INC.
                  (A Development Stage Company)
                         BALANCE SHEETS
               JANUARY 31, 2007 AND APRIL 30, 2006

<TABLE>
<CAPTION>
                                       January 31, 2007      April 30, 2006
                                          (Unaudited)           (Audited)
                                       ----------------      --------------
<S>                                    <C>                   <C>
ASSETS
  Current Assets:
    Cash and Cash Equivalents             $        66          $        66
    Prepaid Expenses                                -                    -
    Note Receivable                                 -                    -
    Interest Receivable                             -                    -
                                          -----------          -----------
TOTAL ASSETS                              $        66          $        66
                                          ===========          ===========

LIABILITIES & STOCKHOLDERS' DEFICIT
  Current Liabilities
    Accrued Expenses                      $     2,074          $       631
    Affiliates Payable                         36,239               33,648
    Loans from Stockholders                       450                  450
                                          -----------          -----------
    Total Current Liabilities                  38,763               34,729
                                          -----------          -----------

Stockholders' Deficit
  Preferred stock, no par value;
    5,000,000 shares authorized,
    no shares issued and outstanding                -                    -
  Common stock, $.001 par value;
    50,000,000 shares authorized,
    1,015,000 shares issued and
    outstanding at January 31, 2007
    and April 30, 2006                          1,015                1,015
  Additional paid-in capital                    7,676                7,676
  Deficit accumulated during the
    development stage                         (47,388)             (43,354)
                                          -----------          -----------
                                              (38,697)             (34,663)
                                          -----------          -----------
TOTAL LIABILITIES &
STOCKHOLDERS' DEFICIT                     $        66          $        66
                                          ===========          ===========
</TABLE>









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


                                F-1

<PAGE>

                    BF ACQUISITION GROUP V, INC.
                   (A Development Stage Company)
          STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND
          NINE MONTHS ENDED JANUARY 31, 2007 AND 2006 AND FOR
    THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO JANUARY 31, 2007
                            (UNAUDITED)

<TABLE>
<CAPTION>
                              Cumulative     Three Months       Three Months       Nine Months        Nine Months
                                 Since          Ended              Ended              Ended              Ended
                              Inception    January 31, 2007   January 31, 2006   January 31, 2007   January 31, 2006
                              ----------   ----------------   ----------------   ----------------   ----------------
<S>                           <C>          <C>                <C>                <C>                <C>

REVENUES
  Revenues                    $        -     $          -       $          -       $          -      $          -

COSTS AND EXPENSES
General and Administrative        47,388            1,091              2,970              4,034            10,731
                              ----------     ------------       ------------       ------------      ------------
Total costs and expenses          47,388            1,091              2,970              4,034            10,731
                              ----------     ------------       ------------       ------------      ------------

LOSS BEFORE INCOME TAXES         (47,388)          (1,091)            (2,970)            (4,034)          (10,731)

INCOME TAXES                           -                -                  -                  -                 -
                              ----------     ------------       ------------       ------------      ------------
NET LOSS                      $  (47,388)    $     (1,091)      $     (2,970)      $     (4,034)     $    (10,731)
                              ==========     ============       ============       ============      ============

BASIC AND DILUTED WEIGHTED
AVERAGE COMMON SHARES
OUTSTANDING                                     1,015,000          1,015,000          1,015,000         1,015,000
                                             ============       ============       ============      ============

BASIC AND DILUTED NET (LOSS)
INCOME PER COMMON SHARE                      $      (0.00)      $      (0.00)      $      (0.00)     $      (0.01)
                                             ============       ============       ============      ============
</TABLE>


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


                                F-2

<PAGE>

                    BF ACQUISITION GROUP V, INC.
                   (A Development Stage Company)
                 STATEMENT OF STOCKHOLDERS' DEFICIT
           FOR THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION)
                         TO JANUARY 31, 2007

<TABLE>
<CAPTION>
                                                                             Deficit
                                                                           Accumulated
                                          Common Stock        Additional    During the
                                      Number of                 Paid In    Development
                                       Shares       Amount      Capital       Stage         Total
                                      ---------   ---------   ----------   -----------   -----------
<S>                                   <C>         <C>         <C>          <C>           <C>

Issuance of initial 510,000
  shares on April 15, 1999              510,000         510          490             -         1,000
Issuance of shares of common
  stock in exchange
for services                            190,000         190          182             -           372
Net loss                                      -           -            -          (372)         (372)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 1999                 700,000         700          672          (372)        1,000

Issuance of shares of common stock       60,000          60        2,940             -         3,000
Issuance of shares of common stock
  in exchange for services               35,000          35           34             -            69
Net loss                                      -           -            -        (3,637)       (3,637)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2000                 795,000         795        3,646        (4,009)          432

Issuance of shares of common stock       20,000          20          980             -         1,000
Net loss                                                  -            -        (2,978)       (2,978)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2001                 815,000         815        4,626        (6,987)       (1,546)

Net loss                                      -           -            -        (3,123)       (3,123)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2002                 815,000         815        4,626       (10,110)       (4,669)

Net loss                                      -           -            -        (3,105)       (3,105)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2003                 815,000         815        4,626       (13,215)       (7,774)

Net income                                    -           -            -         2,143         2,143
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2004                 815,000         815        4,626       (11,072)       (5,631)

Affiliate payables converted into
common stock                            200,000         200        3,050             -         3,250
Net loss                                                  -            -       (12,366)      (12,366)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2005               1,015,000       1,015        7,676       (23,438)      (14,747)

Net loss                                      -           -            -       (19,916)      (19,916)
                                      ---------   ---------   ----------   -----------   -----------
Balance, April 30, 2006 (Audited)     1,015,000       1,015        7,676       (43,354)      (34,663)

Net loss                                      -           -            -        (4,034)       (4,034)
                                      ---------   ---------   ----------   -----------   -----------
Balance, January 31, 2007
(Unaudited)                           1,015,000   $   1,015   $    7,676   $   (47,388)  $   (38,697)
                                      =========   =========   ==========   ===========   ===========
</TABLE>




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


                                F-3

<PAGE>


                    BF ACQUISITION GROUP V, INC.
                   (A Development Stage Company)
                       STATEMENTS OF CASH FLOWS
      FOR THE NINE MONTHS ENDED JANUARY 31, 2007 AND 2006 AND FOR
    THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO JANUARY 31, 2007
                            (UNAUDITED)

<TABLE>
<CAPTION>
                                           Cumulative     Nine Months         Nine Months
                                             Since           Ended              Ended
                                           Inception    January 31, 2007   January 31, 2006
                                           ----------   ----------------   ----------------
<S>                                        <C>          <C>                <C>

CASH FLOWS FROM OPERATING ACTIVITIES
  Net Loss                                    (47,388)          (4,034)           (10,731)
  Adjustments to reconcile net loss to
    net cash flows used by operating
    activities
  Stock issued in exchange for services           441                -                  -
  (Increase) decrease in assets
    Notes receivable                                -                -                  -
  Increase (decrease) in liabilities
    Accrued expenses                            2,074            1,443             (3,196)
    Advances due to affiliates                 39,489            2,591              8,702
                                           ----------     ------------       ------------

Net cash used by operating activites           (5,384)               -             (5,225)
                                           ----------     ------------       ------------
CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from issuance of common stock        5,000                -                  -
  Loans from stockholders                         450                -                  -
                                           ----------     ------------       ------------

  Net cash provided by financing
  activities                                    5,450                -                  -
                                           ----------     ------------       ------------

NET INCREASE (DECREASE) IN CASH AND
  CASH EQUIVALENTS                                 66                -                  -

CASH AND CASH EQUIVALENTS, BEGINNING
  OF PERIOD                                         -               66                  -
                                           ----------     ------------       ------------
CASH AND CASH EQUIVALENTS, END OF PERIOD   $       66     $         66       $          -
                                           ==========     ============       ============

Supplemental Disclosure of Non-Cash
  Financing 200,000 shares of common
  stock issued in exchange for
  repayment towards affiliate payable
    Common Stock                           $      200     $          -       $          -
    Additional paid-in-capital                  3,050                -                  -
                                           ----------     ------------       ------------

Due to affiliate repayment                 $   (3,250)    $          -       $          -
                                           ==========     ============       ============
</TABLE>




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


                                F-4

<PAGE>

                    BF ACQUISITION GROUP V, INC.
                   (A Development Stage Company)
                   NOTES TO FINANCIAL STATEMENTS
                            (UNAUDITED)


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLOCIES

ORGANIZATION

BF Acquisition Group V, Inc. (the "Company") is a development stage
company organized in Florida on April 15, 1999 as a "shell" company,
which looks for suitable business partners or acquisition candidates
to merge with or acquire.  Operations have consisted primarily of
obtaining the initial capital contribution by the founding
shareholders and coordination of activities regarding the SEC
registration of the Company.

BASIS OF PRESENTATION

The accompanying unaudited condensed financial statements have been
prepared by BF Acquisition Group V, Inc. (the Company).  These
statements include all adjustments (consisting only of normal
recurring adjustments) which management believes necessary for fair
presentation of the statements and have been prepared on a consistent
basis using the accounting policies described in the summary of
Accounting Policies included in the Company's April 30, 2006 Annual
Report on Form 10-KSB.  Certain financial information and footnote
disclosures normally included in the financial statements prepared in
accordance with U.S. generally accepted accounting principles have
been condensed or omitted pursuant to such rules and regulations,
although the Company believes that the accompanying disclosures are
adequate to make the information presented not misleading.  The Notes
to Financial Statements in the April 30, 2006 Annual  Report on Form
10-KSB should be read in conjunction with the accompanying interim
financial statements.  Operating results for the nine months ended
January 31, 2007 are not necessarily indicative of the results that
may be expected for the year ending April 30, 2007.

USE OF ESTIMATES

The preparation of financial statements in conformity with U.S.
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.  Actual results
could differ from those estimates.

RECENTLY ISSUED PRONOUNCEMENTS

In June 2006, the Financial Accounting Standards Board ("FASB") issued
Interpretation No. 48 ("FIN 48"), Accounting for Uncertainty in Income
Taxes. FIN 48 prescribes detailed guidance for the financial statement
recognition, measurement and disclosure of uncertain tax positions
recognized in an enterprise's financial statements in accordance with
FASB Statement No. 109, Accounting for Income Taxes. Tax positions
must meet a more-likely-than-not recognition threshold at the
effective date to be recognized upon the adoption of FIN 48 and in
subsequent periods. FIN 48 will be effective for fiscal years
beginning after December 15, 2006 (our fiscal year 2008) and the
provisions of FIN 48 will be applied to all tax positions under
Statement No. 109 upon initial adoption. The cumulative effect of
applying the provisions of this interpretation will be reported as an
adjustment to the opening balance of retained earnings for that fiscal
year. The Company is currently evaluating the potential impact of FIN
48 on its consolidated financial statements.



                                F-5

<PAGE>

                    BF ACQUISITION GROUP V, INC.
                   (A Development Stage Company)
                   NOTES TO FINANCIAL STATEMENTS
                            (UNAUDITED)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLOCIES (CONT)

RECENTLY ISSUED PRONOUNCEMENTS (CONT)

In September 2006, the SEC issued Staff Accounting Bulletin No. 108
("SAB No. 108"). SAB No. 108 addresses the process and diversity in
practice of quantifying financial statement misstatements resulting in
the potential build up of improper amounts on the balance sheet. We
will be required to adopt the provisions of SAB No.108 in fiscal 2008.
We currently do not believe that the adoption of SAB No. 108 will have
a material impact on our consolidated financial statements.

In September 2006, the FASB issued SFAS No. 157, Fair Value
Measurements, ("SFAS No. 157"). SFAS No. 157 establishes a framework
for measuring fair value and expands disclosures about fair value
measurements. The changes to current practice resulting from the
application of this Statement relate to the definition of fair value,
the methods used to measure fair value, and the expanded disclosures
about fair value measurements. The Statement is effective for fiscal
years beginning after November 15, 2007 and interim periods within
those fiscal years. We do not believe that the adoption of the
provisions of SFAS No. 157 will materially impact our financial
position and results of operations.

NOTE 2 - GOING CONCERN

The accompanying financial statements have been prepared assuming that
the Company will continue as a going concern.  The Company has
incurred losses from activities during the development stage and has a
deficiency in working capital.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.  The
ability of the Company to continue as a going concern is dependent on
the Company's ability to raise additional capital and implement its
business plan.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

NOTE 3 - PAYMENTS TO AFFILIATES

Universal Capital Management, Inc., related to the Company by common
shareholders and management personnel, had provided cash advances for
operating expenses of the Company.  Currently, such loans are
unsecured and without specific redemption date.


NOTE 4 - INCOME TAXES

There is no provision for income taxes for 2006 and 2005 due to the
availability of net operating loss carryforwards for which the Company
had previously established a 100% valuation allowance for deferred tax
assets due to the uncertainty of their recoverability.


                                F-5

<PAGE>

Item 2.  Management's Plan of Operation.

Overview

       The following discussion "Management's Plan of Operation"
contains forward-looking statements. The words "anticipate,"
"believe," "expect," "plan," "intend," "estimate," "project," "will,"
"could," "may" and similar expressions are intended to identify
forward-looking statements. Such statements reflect our current views
with respect to future events and financial performance and involve
risks and uncertainties. Should one or more risks or uncertainties
occur, or should underlying assumptions prove incorrect, actual
results may vary materially and adversely from those anticipated,
believed, expected, planned, intended, estimated, projected or
otherwise indicated. We caution you not to place undue reliance on
these forward-looking statements, which we have made as of the date of
this Quarterly Report on Form 10-QSB.

       The following is qualified by reference to, and should be read in
conjunction with our financial statements ("Financial Statements"),
and the notes thereto, included elsewhere in this Form 10-QSB, as well
as the discussion hereunder "Management's Plan of Operation".

Plan Of Operation

 	During the period covered by this report, BF Acquisition Group V,
Inc. (the "Company") conducted no business operations and generated no
revenue.

       Our Company was initially organized as a "shell" company, with
plans to seek business partners or acquisition candidates; however,
due to capital constraints, we were unable to continue with our
business plan. In March 2001, we ultimately ceased our business
activities and became dormant, whereby we incurred only minimal
administrative expenses.  We re-established our business plan in 2004
and our management is devoting most of its efforts to general business
planning, raising capital, and developing business opportunities.

       As described above, we became dormant for a period of time due to
the lack of capital. During that dormant period we incurred a loss
from operations, and presently do not have any revenues to cover our
incurred expenses. Our management recognizes that we must generate
additional resources to enable us to pay our obligations as they come
due, and that we must ultimately implement our business plan and
achieve profitable operations.  We cannot assure you that we will be
successful in any of these activities. Should any of these events not
occur, our financial condition will be materially adversely affected.



                                12

<PAGE>

       Until we obtain business partners or acquisition candidates, our
Company does not expect to meet its current capital requirements for
the next twelve months. Additionally, we cannot assure you that if we
obtain business partners or acquisition candidates that we will meet
our current capital requirements for the next twelve months. We
obtained $36,689 in affiliate cash advances and loans to meet our
current capital requirements, but we cannot assure you that we can
obtain additional cash advances or loans for any amount in the future.
Our independent auditors have indicated in their audit opinion for the
year ended April 30, 2006 that certain factors raise substantial doubt
about our ability to continue as a going concern, and these continuing
factors are discussed in note 2 to our accompanying January 31, 2007
interim financial statements.

Item 3.  Controls and Procedures.

       As of the end of the period covered by this report, an evaluation
was performed under the supervision and with the participation of the
Company's principal executive officers and financial officers of the
effectiveness of the design and operation of the Company's disclosure
controls and procedures (as such term is defined in Rules 13a-15(e)
and 15d-15(e) under the Exchange Act) as of the end of the period
covered by this report. The evaluation revealed to the Company's
principal executive officers and financial officers that the design
and operation of the Company's disclosure controls and procedures were
effective as of the end of the period covered by this report.

	There have been no significant changes in the Company's internal
controls and in other factors that could significantly affect internal
controls subsequent to the date of the above-described evaluation
period.

                             PART II
                         OTHER INFORMATION

Item 1.  Legal Proceedings

	Not Applicable


Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

	Not Applicable


Item 3.  Defaults Upon Senior Securities

	Not Applicable


Item 4.  Submission of Matters to a Vote of Security Holders

	Not Applicable


Item 5.  Other Information

	Not Applicable


                                13

<PAGE>

Item 6.  Exhibits

(a) Exhibits:

Exhibit No.   Description of Exhibit

(31)
   31.1       Certification of the President of BF Acquisition Group V,
              Inc. pursuant to Section 302 of the Sarbanes-Oxley Act
              of 2002.

   31.2       Certification of the Treasurer of BF Acquisition Group V,
              Inc. pursuant to Section 302 of the Sarbanes-Oxley Act
              of 2002.
(32)
   32.1       Certification of the President of BF Acquisition Group V,
              Inc. pursuant to Section 906 of the Sarbanes-Oxley Act
              of 2002.

   32.2       Certification of the Treasurer of BF Acquisition Group V,
              Inc. pursuant to Section 906 of the Sarbanes-Oxley Act
              of 2002.



                           SIGNATURES

	In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

BF ACQUISITION GROUP V, INC.


Registrant


By: /s/ William Colucci
   ---------------------------------
   William Colucci, President

Dated: March 14, 2007


By: /s/ William Colucci
   ---------------------------------
      William Colucci, President

Dated: March 14, 2007


By: /s/ William Colucci
   ---------------------------------
      William Colucci, Treasurer

Dated: March 14, 2007




                                13

<PAGE>