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 October 31, 2007.

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

For the transition period from ________

Commission File number 0-26853

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

                          Florida
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(State or other jurisdiction of incorporation or organization)

                         65-0913588
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               (IRS Employer Identification No.)

   2030 Vallejo St., Suite 505, San Francisco, California 94123
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             (Address of principal executive offices)

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

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       (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 December 17, 2007, there were approximately 1,900,000
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
                          October 31, 2007

                                                                  Page
                                                                  ----

Part I: Financial Information..................................    1

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

       Balance Sheets .........................................    1

       Statements of Operations................................    2

       Statements of Stockholders' Deficit.....................    3

       Statements of Cash Flows................................    4

       Notes To Financial Statements...........................   5-6

       Item 2. Management's Plan of Operation..................    7

       Item 3. Controls and Procedures.........................    8

Part II: Other Information.....................................    8

       Item 1. Legal Proceedings...............................    8

       Item 2. Unregistered Sales of Equity Securities
               and Use of Proceeds.............................    8

       Item 3. Defaults Upon Senior Securities.................    8

       Item 4. Submission of Matters to a Vote of
               Security Holders................................    8

       Item 5. Other Information...............................    8

       Item 6. Exhibits........................................    9

Signatures.....................................................    9


<PAGE>

                               PART 1
                         FINANCIAL INFORMATION

Item 1.	Financial Statements


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

<TABLE>
<CAPTION>
                                          October 31, 2007     April 30, 2007
                                             (Unaudited)          (Audited)
                                          ----------------    ----------------
<S>                                       <C>                 <C>
ASSETS

   Current Assets:
        Cash and Cash Equivalents         $             66    $             66
                                          ----------------    ----------------
TOTAL ASSETS                              $             66    $             66
                                          ================    ================

LIABILITIES & STOCKHOLDERS' DEFICIT

   Current Liabilities
        Accrued Expenses                  $              -    $          5,074
        Affiliates Payable                          48,259              40,239
        Loans from Stockholders                        450                 450
                                          ----------------    ----------------
        Total Current Liabilities                   48,709              45,763
                                          ----------------    ----------------

   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,
          1,900,000 and 1,015,000 shares
          issued and outstanding at
          October 31, 2007 and
          April 30, 2007                             1,900               1,015
        Additional paid-in capital                  21,176               7,676
        Deficit accumulated during the
          development stage                        (71,719)            (54,388)
                                          ----------------    ----------------
                                                   (48,643)            (45,697)
                                          ----------------    ----------------
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT $             66    $             66
                                          ================    ================
</TABLE>


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

                                       -1-
<PAGE>

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

<TABLE>
<CAPTION>
                               Cumulative     For the Three      For the Three       For the Six        For the Six
                                  Since        Months Ended       Months Ended       Months Ended       Months Ended
                                Inception    October 31, 2007   October 31, 2006   October 31, 2007   October 31, 2006
                              ------------   ----------------   ----------------   ----------------   ----------------
<S>                           <C>            <C>                <C>                <C>                <C>

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

COSTS AND EXPENSES
  General and Administrative        71,719              3,240                  -             17,331              2,943
                              ------------   ----------------   ----------------   ----------------   ----------------
     Total costs and expenses       71,719              3,240                  -             17,331              2,943
                              ------------   ----------------   ----------------   ----------------   ----------------

LOSS BEFORE INCOME TAXES            71,719              3,240                  -             17,331              2,943

INCOME TAXES                             -                  -                  -                  -                  -
                              ------------   ----------------   ----------------   ----------------   ----------------

NET LOSS                      $     71,719   $          3,240   $              -   $         17,331   $          2,943
                              ============   ================   ================   ================   ================

BASIC AND DILUTED WEIGHTED
  AVERAGE COMMON SHARES
  OUTSTANDING                                       1,900,000          1,015,000          1,553,696          1,015,000
                                             ================   ================   ================   ================

BASIC AND DILUTED NET LOSS
PER COMMON SHARE                             $              -   $              -   $           0.01   $              -
                                             ================   ================   ================   ================
</TABLE>
















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

                                   -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 OCTOBER 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 for the year ended
  April 30, 1999                                  -         -           -          (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
                                                  -         -           -        (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 for the year ended
  April 30, 2001                                  -         -           -        (2,978)      (2,978)
                                          ---------    ------  ----------   -----------   ----------
Balance, April 30, 2001                     815,000       815       4,626        (6,987)      (1,546)

Net loss for the year ended
  April 30, 2002                                  -         -           -        (3,123)      (3,123)
                                          ---------    ------  ----------   -----------   ----------

Balance, April 30, 2002                     815,000       815       4,626       (10,110)      (4,669)

Net loss for the year ended
  April 30, 2003                                  -         -           -        (3,105)      (3,105)
                                          ---------    ------  ----------   -----------   ----------

Balance, April 30, 2003                     815,000       815       4,626       (13,215)      (7,774)

Net income for the year ended
  April 30, 2004                                  -         -           -         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 for the year ended
  April 30, 2005                                  -         -           -       (12,366)     (12,366)
                                          ---------    ------  ----------   -----------   ----------

Balance, April 30, 2005                   1,015,000     1,015       7,676       (23,438)     (14,747)

Net loss for the year ended
  April 30, 2006                                  -         -           -       (19,916)     (19,916)
                                          ---------    ------  ----------   -----------   ----------

Balance, April 30, 2006                   1,015,000     1,015       7,676       (43,354)     (34,663)

Net loss for the year ended
  April 30, 2007                                  -         -           -       (11,034)     (11,034)
                                          ---------    ------  ----------   -----------   ----------

Balance, April 30, 2007                   1,015,000     1,015       7,676       (54,388)     (45,697)

Issuance of stock for services              885,000       885      13,500             -       14,385

Net loss for the six months
  ended October 31, 2007                          -         -           -       (17,331)     (17,331)
                                          ---------    ------  ----------   -----------   ----------

Balance, October 31, 2007                 1,900,000    $1,900  $   21,176   $   (71,719)  $  (48,643)
                                          =========    ======  ==========   ===========   ==========
</TABLE>


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

                                   -3-

<PAGE>

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

                                          Cumulative       For the Six         For the Six
                                            Since          Months Ended        Months Ended
                                          Inception      October 31, 2007    October 31, 2006
                                        -------------    ----------------    ----------------
<S>                                     <C>              <C>                 <C>

CASH FLOWS FROM OPERATING ACTIVITIES
  Net Loss                              $     (71,719)   $        (17,331)   $              -
  Adjustments to reconcile net loss to
    net cash flows used by operating
    activities
  Stock issued in exchange for services        14,826              14,385                   -
  Increase (decrease) in liabilities
    Accrued expenses                                0              (5,074)                  -
    Advances due to affiliates                 51,509               8,020                   -
                                        -------------    ----------------    ----------------
  Net cash (used in) provided by
  operating activites                          (5,384)                  -                   -
                                        -------------    ----------------    ----------------

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

SUPPLEMENTAL DISCLOSURE OF
NON-CASH FINANCING ITEMS:

  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.

                                    -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, 2007 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, 2007 Annual Report on Form 10-KSB
should be read in conjunction with the accompanying interim
financial statements.  Operating results for the six months ended
October 31, 2007 are not necessarily indicative of the results
that may be expected for the year ending April 30, 2008.

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, and will become effective for
us beginning with the first quarter of 2007, 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 adoption of FIN 48 did not have a material
impact on the Company's financial statements.



                                 -5-

<PAGE>


NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLOCIES (CONTINUED)

RECENTLY ISSUED PRONOUNCEMENTS (CONTINUED)
In September 2006, the FASB issued SFAS No. 157, Fair Value
Measurements). 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 will become
effective beginning with the first quarter of fiscal 2009.  The
Company has not yet determined the impact of the adoption of SFAS
No. 157 on its financial statements and footnote disclosures.

In February 2007, the FASB issued SFAS No. 159, The Fair Value
Option for Financial Assets and Financial Liabilities.  This
Statement permits entities to choose to measure many financial
instruments and certain other items at fair value that are not
currently required to be measured at fair value.  The objective
is to improve financial reporting by providing entities with the
opportunity to mitigate volatility in reported earnings caused by
measuring related assets and liabilities differently without
having to apply complex hedge accounting provisions.  This
statement also establishes presentation and disclosure
requirements designed to facilitate comparisons between entities
that choose different measurement attributes for similar types of
assets and liabilities.  This Statement is effective for
financial statements issued for fiscal years beginning after
November 15, 2007 and will become effective for the Company
beginning with the first quarter of fiscal 2008.  The Company has
not yet determined the impact of the adoption of SFAS No. 159 on
its financial statements and footnote disclosures.


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 income tax benefit for the losses incurred during
2007 and 2006 since the Company has established a 100% valuation
allowance for deferred tax assets due to the uncertainty of their
recoverability.


NOTE 5 - STOCKHOLDERS' EQUITY

During July 2007, the Company issued 885,000 shares of common
stock for professional services valued at $14,385, fair value.


                             -6-

<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.

       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 $48,709 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, 2007 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 October 31, 2007 interim financial statements.


                             -7-

<PAGE>


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.

Item 3A (T). Controls and Procedures.

Not applicable.

                         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


                             -8-

<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 R. Colucci
   ---------------------------------
   William R. Colucci, President

Dated: December 17, 2007

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

Dated: December 17, 2007

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

Dated: December 17, 2007



                             -9-

<PAGE>