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, 2006.

[ ] 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.
----------------------------------------------------------------------
  (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 10, 2006, 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, 2006

                                                                 Page

Part I: Financial Information ..................................   2

   Item 1.   Financial Statements ..............................   2

         Balance Sheets as of January 31, 2006
         And April 30, 2005 (Unaudited).........................   3

         Statements of Operations For the Three
         And Nine Months Ended January 31, 2006 and 2005 and
         For the Period April 15, 1999 (Date of Inception)
         To January 31, 2006 (Unaudited)........................   3

         Statements of Changes in Stockholders' Deficit for
         the Period April 15, 1999 (Date of Inception) to
         January 31, 2006 (Unaudited)...........................   4

         Statements Of Cash Flows For the Nine
         Months Ended January 31, 2006 and 2005 and
         The Period April 15, 1999 (Date of Inception)
         To January 31, 2006 (Unaudited)........................   5

         Notes To Financial Statements (Unaudited) .............   6

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

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

Part II: Other Information .....................................   9

   Item 1.   Legal Proceedings .................................   9

   Item 2.   Unregistered Sales of Equity Securities
             and Use of Proceeds................................   9

   Item 3.   Defaults Upon Senior Securities ...................   9

   Item 4.   Submission of Matters to a Vote of Security
             Holders ...........................................   9

   Item 5.   Other Information .................................   9

   Item 6.   Exhibits...........................................  10

Signatures .....................................................  11



<PAGE>


                              PART I
                      FINANCIAL INFORMATION

Item 1.  Financial Statements
















                                  2
<PAGE>


                     BF ACQUISITION GROUP V, INC.
                    (A DEVELOPMENT STAGE COMPANY)
                           BALANCE SHEETS
                 JANUARY 31, 2006 AND APRIL 30, 2005

<TABLE>
<CAPTION>

                                                                     Jan 31, 06     Apr 30, 05
                                                                     (Unaudited)    (Audited)
                                                                     -----------    -----------
<S>                                                                  <C>            <C>



ASSETS
   Current Assets:
       Cash and cash equivalents                                     $         -    $         -
       Prepaid Expenses                                              $    10,000    $         -
                                                                     -----------    -----------
           Total Current Assets                                           10,000              -
                                                                     -----------    -----------

TOTAL ASSETS                                                         $    10,000    $         -
                                                                     ===========    ===========
LIABILITIES & STOCKHOLDERS' DEFICIT

   Current Liabilities
       Accrued expenses                                              $       631    $     3,827
       Affiliates payable                                                 34,397         10,470
       Loans from stockholders                                               450            450
                                                                     -----------    -----------

           Total Current Liabilities                                      35,478         14,747
                                                                     -----------    -----------
   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, 2006
         and April 30, 2005                                                1,015          1,015
       Additional paid-in capital                                          7,676          7,676
       Deficit accumulated during the development stage                  (34,169)       (23,438)
                                                                     -----------    -----------
                                                                         (25,478)       (14,747)
                                                                     -----------    -----------

TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT                            $    10,000    $         -
                                                                     ===========    ===========


</TABLE>

           (See Accompanying Notes to Financial Statements)


                                  3
<PAGE>



                       BF ACQUISITION GROUP V, INC.
                      (A DEVELOPMENT STAGE COMPANY)
                       STATEMENTS OF OPERATIONS
     FOR THE THREE AND NINE MONTHS ENDED JANUARY 31, 2006 AND 2005
  AND THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION TO JANUARY 31, 2006
                              (UNAUDITED)

<TABLE>
<CAPTION>


                                        Cumulative    Three Months       Three Months       Nine Months        Nine Months
                                          Since           Ended              Ended             Ended              Ended
                                        Inception   January 31, 2006   January 31, 2005   January 31, 2006   January 31, 2005
                                       -----------  ----------------   ----------------   ----------------   ----------------
<S>                                    <C>          <C>                <C>                <C>                <C>
REVENUES
   Revenues                            $         -    $         -        $         -        $         -        $           -

COSTS AND EXPENSES
   General and administrative              (34,169)         2,970              2,820             10,731                9,170
                                       -----------  ----------------   ----------------   ----------------   ----------------

       Total costs and expenses            (34,169)         2,970              2,820             10,731                9,170
                                       -----------  ----------------   ----------------   ----------------   ----------------

LOSS BEFORE INCOME TAXES                   (34,169)        (2,970)            (2,820)           (10,731)              (9,170)

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

NET LOSS                               $   (34,169)   $    (2,970)       $    (2,820)       $   (10,731)       $      (9,170)
                                       ===========  ================   ================   ================   ================
BASIC AND DILUTED WEIGHTED AVERAGE
     COMMON SHARES OUTSTANDING                          1,015,000            847,609          1,015,000              892,818
                                                    ================   ================   ================   ================
BASIC AND DILUTED NET (LOSS) INCOME
     PER COMMON SHARE                                 $     (0.00)       $     (0.00)       $     (0.01)       $       (0.01)
                                                    ================   ================   ================   ================




</TABLE>

                     (See Accompanying Notes to Financial Statements)


                                  4
<PAGE>



                       BF ACQUISITION GROUP V, INC.
                      (A DEVELOPMENT STAGE COMPANY)
             STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT
  FOR THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO JANUARY 31, 2006
                             (UNAUDITED)
<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 (Audited)                     1,015,000        1,015        7,676         (23,438)       (14,747)

Net loss for the nine months ended January 31, 2006                                               (10,731)       (10,731)
                                                    ------------   ---------    ---------     ------------    ----------

Balance, January 31, 2006 (Unaudited)                 1,015,000    $   1,015    $   7,676     $   (34,169)    $  (25,478)
                                                    ============   =========    =========     ============    ==========
</TABLE>

            (See Accompanying Notes to Financial Statements)


                                  5
<PAGE>



                    BF ACQUISITION GROUP V, INC.
                   (A DEVELOPMENT STAGE COMPANY)
                    STATEMENT OF CASH FLOWS
         FOR THE NINE MONTHS ENDED JANUARY 31, 2006 AND 2005
AND THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO JANUARY 31, 2006
                           (UNAUDITED)
<TABLE>
<CAPTION>

                                                                          Nine Months     Nine Months
                                                          Cumulative         Ended           Ended
                                                            Since         January 31,     January 31,
                                                           Inception         2005            2004
                                                          ------------    ------------    ------------
<S>                                                       <C>             <C>             <C>

Cash Flows From Operating Activities
   Net Loss                                                   (34,169)        (10,731)         (9,170)
   Adjustments to reconcile net loss to net cash
       flows used by operating activities
   Stock issued in exchange for services                          441               -               -
   Net changes in:
       Increase in prepaid expenses                                 -          10,000               -
       Increase/ (decrease) in accrued expenses                   631          (3,196)         (1,730)
       Increase in advances due to affiliates                  27,647          23,927          10,900
                                                         ------------    ------------    ------------
Net cash used by operating activites                           (5,450)         20,000               -
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                                     -               -               -

Cash, Beginning of Period                                           -               -               -
                                                         ------------    ------------    ------------

Cash, End of Period                                       $         -     $         -     $         -
                                                         ============    ============    ============
Supplemental Disclosure of Non-Cash Financing
   200,000 shares of common stock issued in
   exchange for repayment towards affiliate payable
       Common Stock                                       $       200                     $       200
       Additional paid-in-capital                               3,050                           3,050
                                                         ------------                    ------------
       Due to affiliate repayment                         $    (3,250)                    $    (3,250)
                                                         ============                    ============
</TABLE>

               (See Accompanying Notes to Financial Statements)


                                  6
<PAGE>



                   BF ACQUISITION GROUP V, INC.
                  NOTES TO FINANCIAL STATEMENTS
                           (UNAUDITED)




NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	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 PRESENTATIONS

        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,
        2005 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, 2005 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, 2006 are
        not necessarily indicative of the results that may be expected for
        the year ending April 30, 2006.

	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.

	RECLASSIFICATIONS

        Certain reclassifications have been made to the prior period
        financial statements to conform to the presentation in the
        current period's financial statements.

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 - PAYABLE 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 specified redemption date.

NOTE 4 - INCOME TAXES

	There is no provision for income taxes for 2005 and 2004 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.




                                 7
<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.


                                  8
<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 $34,397 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, 2005 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, 2006
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


                                  9
<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.


                                  10
<PAGE>



                                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 10, 2006


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

Dated: March 10, 2006


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

Dated: March 10, 2006




                                  11
<PAGE>