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 July 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.)

      2030 Vallejo St., Suite 505, San Francisco, California 94123
----------------------------------------------------------------------
                 (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
September 12, 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
                           July 31, 2007


                                                                Page

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

  Item 1. Financial Statements ................................. 3

          Balance Sheets........................................ 3

          Statements of Operations.............................. 4

          Statements of Stockholders' Deficit................... 5

          Statements Of Cash Flows.............................. 6

          Notes To Financial Statements......................... 7

   Item 2. Management's Plan of Operation ...................... 9

   Item 3. Controls and Procedures.............................. 10

Part II:   Other Information ................................... 10

   Item 1. Legal Proceedings ................................... 10

   Item 2. Unregistered Sales of Equity Securities and
           Use of Proceeds...................................... 10

   Item 3. Defaults Upon Senior Securities...................... 10

   Item 4. Submission of Matters to a Vote of Security
           Holders.............................................. 10

   Item 5. Other Information ................................... 10

   Item 6. Exhibits............................................. 11

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


<PAGE>

                              PART I
                      FINANCIAL INFORMATION

Item 1.  Financial Statements


                    BF ACQUISITION GROUP V, INC.
                   (A DEVELOPMENT STAGE COMPANY)
                           BALANCE SHEETS
                 JULY 31, 2007 AND APRIL 30, 2007

<TABLE>
<CAPTION>
                                          July 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                             45,019             40,239
  Loans from Stockholders                           450                450
                                          -------------     --------------
  Total Current Liabilities                      45,469             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
    July 31, 2007 and April 30, 2007              1,900              1,015
  Additional paid-in capital                     21,176              7,676
  Deficit accumulated during the
    development stage                           (68,479)           (54,388)
                                          -------------     --------------
                                                (45,403)           (45,697)
                                          -------------     --------------
TOTAL LIABILITIES &
STOCKHOLDERS' DEFICIT                     $          66     $           66
                                          =============     ==============

</TABLE>

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


                                   3
<PAGE>


                    BF ACQUISITION GROUP V, INC.
                   (A DEVELOPMENT STAGE COMPANY)
          STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED
              JULY 31, 2007 AND 2006 AND FOR THE PERIOD
          APRIL 15, 1999 (DATE OF INCEPTION) TO JULY 31, 2007
                              (UNAUDITED)

<TABLE>
<CAPTION>

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

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

COSTS AND EXPENSES
  General and Administrative           68,479           14,091            2,943
                                 ------------    -------------    -------------
Total costs and expenses               68,479           14,091            2,943

LOSS BEFORE INCOME TAXES               68,479           14,091            2,943

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

NET LOSS                         $     68,479    $      14,091    $       2,943
                                 ============    =============    =============


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

BASIC AND DILUTED NET LOSS
PER COMMON SHARE                                 $        0.01    $        0.00
                                                 =============    =============

</TABLE>


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


                                   4
<PAGE>


                    BF ACQUISITION GROUP V, INC.
                   (A DEVELOPMENT STAGE COMPANY)
                STATEMENT OF STOCKHOLDERS' DEFICIT
    FOR THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO JULY 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 three months
  ended July 31, 2007                             -         -           -       (14,091)     (14,091)
                                          ---------    ------  ----------   -----------   ----------

Balance, July 31, 2007                    1,900,000    $1,900  $   21,176   $   (68,479)  $  (45,403)
                                          =========    ======  ==========   ===========   ==========
</TABLE>



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


                                   5
<PAGE>

                    BF ACQUISITION GROUP V, INC.
                   (A DEVELOPMENT STAGE COMPANY)
          STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED
              JULY 31, 2007 AND 2006 AND FOR THE PERIOD
          APRIL 15, 1999 (DATE OF INCEPTION) TO JULY 31, 2007
                              (UNAUDITED)

<TABLE>
<CAPTION>

                                            Cumulative     For the Three    For the Three
                                              Since        Months Ended     Months Ended
                                            Inception      July 31, 2007    July 31, 2006
                                           ------------    -------------    -------------
<S>                                        <C>             <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net Loss                                 $    (68,479)   $     (14,091)   $      (2,943)
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 assets
  Accrued expenses                                    0           (5,074)           1,443
  Advances due to affiliates                     48,269            4,780            1,500
                                           ------------    -------------    -------------
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 integtral part of these financial statements.


                                   6
<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 nine months ended
July 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.


                                   7
<PAGE>


                    BF ACQUISITION GROUP V, INC.
                    (A DEVELOPMENT STAGE COMPANY)
                    NOTES TO FINANCIAL STATEMENTS
                              (UNAUDITED)


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 provision for income taxes for 2007 and 2006 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.


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.


                                   8
<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 $45,469 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 July 31, 2007
interim financial statements.


                                   9
<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


                                   10
<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: September 12, 2007

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

Dated: September 12, 2007

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

Dated: September 12, 2007