U.S. SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                   FORM 10-QSB



(Mark One)

-
X   Quarterly report under Section 13 or 15(d) of he Securities Exchange Act of
-   1934

For the quarterly period ended October 31, 2004
                               ----------------
-
    Transition report under Section 13 or 15(d) of the Exchange Act
-

For the transition period from ___________ to _________


         Commission file number                      0-26851
                               -------------------------------------------------

                          BF ACQUISITION GROUP IV, INC.
--------------------------------------------------------------------------------
        (Exact Name of Small Business Issuer as Specified in Its Charter)

              Florida                                    65-013586
-----------------------------------           ---------------------------------
(State or Other Jurisdiction of                     (I.R.S. Employer
Incorporation or Organization)                    Identification No.)

                  2501 Turk Boulevard, San Francisco, CA 94118
--------------------------------------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (415) 831-1974
--------------------------------------------------------------------------------
                (Issuer's Telephone Number, Including Area Code)

--------------------------------------------------------------------------------
         (Former Name, Former Address and Former Fiscal ear, 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
        -----        -----

                     APPLICABLE ONLY TO ISSUERS INVOLVED IN
                        BANKRUPTCY PROCEEDINGS DURING THE
                              PRECEDING FIVE YEARS


         Check whether the registrant  filed all documents and reports  required
to be  filed  by  Section  12,  13 or  15(d)  of  the  Exchange  Act  after  the
distribution of securities under a plan confirmed by a court.


Yes           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: 825,000
                                                    ----------------------------

         Transitional  Small Business Disclosure Format (check one):
Yes            No      X
        -----        -----


<PAGE>

                                      INDEX



 PART I                                                                     Page
 FINANCIAL INFORMATION                                                      ----

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

 Item 2.    Management's Discussion and Analysis or Plan of Operation.........8

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

 PART II
 OTHER INFORMATION

 Item 6.    Exhibits and Reports on Form 8-K.................................10

                                       2

<PAGE>

                          BF ACQUISITION GROUP IV, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS
                                OCTOBER 31, 2004
                                   (UNAUDITED)
<TABLE>
<CAPTION>
<S>                                                                           <C>                   <C>
                                                                                  October 31,           April 30,
                                                                                      2004                2004
                                                                                      ----                ----
                                   ASSETS
                                   ------

Current Assets:
      Cash and cash equivalents                                               $          -          $           -
                                                                              --------------------  ------------------
      Due from affiliates                                                                   20,675              -
                                                                              --------------------  ------------------
                                                                                            20,675              -
                                                                              --------------------  ------------------

Other Assets:
      Investments, at cost                                                                   3,250  $           -
                                                                              --------------------  ------------------

      Total Assets                                                            $             23,925  $           -
                                                                              ====================  ==================


                   LIABILITIES AND STOCKHOLDERS' DEFICIT
                   -------------------------------------

Current Liabilities
      Accrued expenses                                                        $             13,931  $            4,941
                                                                              --------------------  ------------------
      Due to affiliates                                                                     49,454              -
                                                                              --------------------  ------------------
      Loans from shareholders                                                                   30                 300
                                                                              --------------------  ------------------
           Total Current Liabilities                                                        63,685               5,241
                                                                              --------------------  ------------------

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, 825,000 shares issued and outstanding                                   825                 825
                                                                              --------------------  ------------------
      Additional paid-in capital                                                             5,116               5.116
                                                                              --------------------  ------------------
      Deficit accumulated during the development stage                                     (45,701)            (11,182)
                                                                              --------------------  ------------------
                                                                                           (39,760)             (5,241)
                                                                              --------------------  ------------------
      Total Liabilities and Stockholders' Deficit                             $             23,925  $           -
                                                                              ====================  ==================
</TABLE>

                                       3
<PAGE>


                          BF ACQUISITION GROUP IV, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
          FOR THE THREE AND SIX MONTHS ENDED OCTOBER 31, 2004 AND 2003
      AND THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION TO OCTOBER 31, 2004
                                   (UNAUDITED)


<TABLE>
<CAPTION>
<S>                                        <C>                   <C>                 <C>               <C>              <C>

                                                                  Three Months       Three Months       Six Months      Six Months
                                              Cumulative              Ended              Ended            Ended            Ended
                                                 Since             October 31,        October 31,      October 31,      October 31,
   Revenues                                    Inception              2004               2003              2004            2003
                                           ------------------    ----------------    --------------    -------------    ------------
         Revenues                          $         -           $        -          $     -           $     -          $     -

   COSTS AND EXPENSES
         General and Administrative                   45,701               8,557               550           34,519           1,100
                                           ------------------    ----------------    --------------    -------------    ------------
                 Total costs and expenses             45,701               8,557               550           34,519           1,100
                                           ------------------    ----------------    --------------    -------------    ------------

   LOSS BEFORE TAX BENEFIT                           (45,701)             (8,557)             (550)         (34,519)         (1,100)

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

   NET LOSS
                                           $         (45,701)     $       (8,557)     $       (550)     $   (34,519)     $   (1,100)
                                           ==================    ================    ==============    =============    ============

   BASIC AND DILUTED WEIGHTED AVERAGE
   COMMON SHARES OUTSTANDING
                                                                         825,000           825,000          825,000         825,000
                                                                 ================    ==============    =============    ============

   BASIC AND DILUTED NET LOSS PER
   COMMON SHARE
                                                                 $         (0.01)      $     (0.00)    $      (0.04)     $    (0.00)
                                                                 ================    ==============    =============    ============

</TABLE>


                                       4
<PAGE>


                          BF ACQUISITION GROUP IV, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                             STATEMENT OF CASH FLOWS
               FOR THE SIX MONTHS ENDED OCTOBER 31, 2004 AND 2003
      AND THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO OCTOBER 31, 2004
                                   (UNAUDITED)

<TABLE>
<CAPTION>
<S>                                                                   <C>                     <C>                <C>

                                                                                             Six Months Ended     Six Months Ended
                                                                       Cumulative Since         October 31,           October 31,
                                                                          Inception                2004                  2003
                                                                      ------------------      --------------     ------------------
Cash Flows From Operating Activities
     Net Loss                                                         $         (45,701)      $     (34,519)     $    (1,100)
     Adjustments to reconcile net loss to net
         cash flows used by operating
         activities
              Stock issued in exchange for services                                 441                -                -
              Net changes in:
                  Due from affiliates                                           (23,925)            (23,925)            -
                  Accrued expenses                                               13,931               8,990            1,100
                  Advances due to affiliates                                    (17,346)            (17,346)            -
                                                                      ------------------      --------------     ===============
Net cash used by operating activities                                           (72,600)            (66,800)            -
                                                                      ==================      ==============     ===============

Cash Flows From Investing Activities
     Purchase of property and equipment                                          (3,500)             (3,500)            -
                                                                                                                 ---------------
     Purchase of investments held in trust                                     (300,000)           (300,000)            -
                                                                      ------------------      --------------     ---------------
Net cash used by investing activities                                          (303,500)           (303,500)            -
                                                                      ------------------      --------------     ---------------

Cash Flows From Financing Activities
     Proceeds from issuance of common stock                                       5,500                -                -
     Advances for subscriptions to affiliated company                           370,300             370,300             -
     Loans from related parties                                                     300                -                -
                                                                      ------------------      --------------     ---------------
Net cash provided by financing activities                                       376,100             370,300             -
                                                                      ------------------      --------------     ---------------
Net Increase in Cash                                                               -                   -                -

Cash, Beginning of Period                                                          -                   -                -
                                                                      ------------------      --------------     ---------------
Cash, End of Period                                                   $            -          $        -         $      -
                                                                      ==================      ==============     ===============


Supplemental Disclosure of Non-Cash Financing Activities
     Transferred stock subscriptions to affiliate                     $        (370,300)      $    (370,300)     $      -
                                                                      ==================      ==============     ===============

Supplemental Disclosure of Non-Cash Investing  Activities
     Acquired common stock investment in affiliated
     companies in exchange for repayment towards
     affiliate receivable                                             $           3,250       $       3,250      $      -
                                                                      ==================      ==============     ===============
     Transfer of investments held in trust to affiliate               $         300,000       $     300,000      $      -
                                                                      ==================      ==============     ===============
     Transfer of fixed assets to affiliate                            $           3,500       $       3,500      $      -
                                                                      ==================      ==============     ===============
</TABLE>


                                       5
<PAGE>


                          BF ACQUISITION GROUP IV, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                  STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT
      FOR THE PERIOD APRIL 15, 1999 (DATE OF INCEPTION) TO OCTOBER 31, 2004
                                   (UNAUDITED)

<TABLE>
<CAPTION>
<S>                                                         <C>         <C>          <C>          <C>         <C>



                                                                                                     Deficit
                                                               Common Stock                        Accumulated
                                                               ------------         Additional     during the
                                                           Number of                 Paid-In       Development
                                                            Shares      Amount       Capital          Stage        Total
                                                     -------------------------------------------------------------------
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                           30,000        30           1,470                     1,500
Net loss                                                                                             (3,547)     (3,547)
                                                     -------------------------------------------------------------------


Balance, April 30, 2001                                     825,000       825           5,116        (7,556)     (1,615)

Net loss                                                                                             (2,970)     (2,970)
                                                     -------------------------------------------------------------------


Balance, April 30, 2002                                     825,000       825           5,116       (10,526)     (4,585)

Net loss                                                                                             (2,925)     (2,925)
                                                     -------------------------------------------------------------------


Balance, April 30, 2003                                     825,000       825           5,116       (13,451)     (7,510)

Net income                                                                                            2,269       2,269
                                                     -------------------------------------------------------------------


Balance, April 30, 2004                                     825,000       825           5,116       (11,182)     (5,241)

Net loss for the six months ended October 31, 2004                                                  (34,519)    (34,519)
                                                     -------------------------------------------------------------------
Balance, October 31, 2004                                   825,000     $ 825        $  5,116     $ (45,701)  $ (39,760)
                                                     ===================================================================

</TABLE>


                                       6
<PAGE>



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



NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

      Organization

         BF Acquisition  Group IV, Inc. (the  "Company") is a development  stage
      company  organized  in Florida on April 15, 1999 which looks for  suitable
      business  partners  or  acquisition  candidates  with which to merge or to
      acquire.  Operations  have  consisted  primarily of obtaining  the initial
      capital 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  IV,  Inc.  (the  "Company").   These
      statements  include all adjustments  (consisting  only of normal recurring
      adjustments)  which management  believes necessary for a 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, 2004 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, 2004
      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,  2004 are not  necessarily  indicative  of the
      results that may be expected for the year ending April 30, 2005.

      Use of Estimates

         Management  uses  estimates  and  assumptions  in  preparing  financial
      statements. Those estimates and assumptions affect the reported amounts of
      assets  and   liabilities,   the  disclosure  of  contingent   assets  and
      liabilities,  and the reported  expenses.  Actual  results could vary 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 - REALIZATION OF ASSETS

         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. This condition raises
      substantial  doubt  about the  Company's  ability to  continue  as a going
      concern.  The  financial  statements do not include any  adjustments  that
      might result from the outcome of this uncertainty.


                                       7
<PAGE>


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



NOTE 3 - INVESTMENTS

         The  investments  represent  common  stock  equity  securities  in  two
      companies related by common shareholders and management  personnel.  These
      companies  are, like the Company,  development  stage  "shell"  companies.
      Accordingly,  market values of these securities are not readily available.
      The Company  acquired  these  investments in exchange for reduction to the
      inter-company  accounts due to the Company by them. Investments are stated
      at  cost  and  are  deemed  available  for  sale.  At  October  31,  2004,
      investments were as follows:


                                              Cost                 Market
                                         --------------        ------------
100,000 shares of common stock of BF      $     1,625          $     1,625
Acquisition Group V, Inc.

75,000 shares of common stock of BF       $     1,625          $     1,625
Acquisition Group III, Inc.
                                         -------------         ------------
                                          $     3,250          $     3,250
                                         =============         ============


NOTE 4 - PAYABLE TO AFFILIATES

         Universal  Capital  Management,  Inc.  ("Universal"),  related  to  the
      Company  by  common  shareholders  and  management  personnel,  is a newly
      organized, closed-end,  non-diversified management investment company that
      will  elect to be  treated as a  business  development  company  under the
      Investment Company Act of 1940. Prior to Universal's legal  establishment,
      receipts  of funds from  subscribers  of  Universal  towards  purchase  of
      Universal's  common stock and disbursement of funds to make investments in
      qualified  companies for investment  management  purposes were  transacted
      through  the  bank  account  of  the  Company  as  Universal's   temporary
      intermediary.  The net of all activities attributable to Universal Capital
      Management,  Inc.  are  reflected  as a net  payable due to  Universal  of
      $47,829.

         Additional  affiliate  liabilities include $1,625 due to Nortia Capital
      Partners, Inc.


NOTE 5 - SUBSEQUENT EVENTS

         On November 4, 2004, the Company  entered into an Agreement and Plan of
      Merger (the "Merger  Agreement") with William R. Colucci and David M. Bovi
      (principal  shareholders  of  the  Company)  and  Universal.   The  Merger
      Agreement provides that at the Effective Time, the Company will merge with
      and into Universal and Universal shall be the surviving corporation.

         At the Effective Time, each shareholder of the Company will receive one
      half share of voting  common stock of Universal in exchange for each share
      of the Company's stock held by such shareholder.


                                       8
<PAGE>

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




NOTE 5 - SUBSEQUENT EVENTS, CONTINUED

           On November 8, 2004,  by  unanimous  consent of the  directors of the
Company,  100,000  shares of the  Company's  common  stock was  issued to Nortia
Capital  Partners,  Inc. (f/k/a BF Acquisition Group I, Inc.), a company related
by common ownership, as satisfaction of debt obligations amounting to $1,625 due
to Nortia.



                                       9
<PAGE>

Item 2.     Management's Discussion and Analysis or Plan of Operation

            Overview

            The following discussion 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 audited  financial  statements for the year ended April 30,
2004 filed with the  Securities  and Exchange  Commission  and the current notes
included elsewhere in this Quarterly Report on Form 10-QSB.

            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 have  currently  initiated
activities  to  establish  our  business  plan  during  the  development  stage.
Management is devoting most of its efforts to general business planning, raising
capital,   seeking  appropriate   business  partners  for  either  a  merger  or
acquisition and developing other business opportunities.

            As described  above,  we became  dormant for a period of time due to
the lack of capital.  We incurred losses from  operations,  and currently 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.

            The Company made investments in two similar and related  development
stage  companies in exchange for a reduction in  inter-company  accounts.  As of
October 31, 2004. These investments included:

             75,000 shares of common stock in BF Acquisition Group III, Inc.
            100,000 shares of common stock in BF Acquisition Group V, Inc.

            During this period, management continued its efforts to search for a
merger  partner and to implement  its business  plan.  The  subsequent  event as
described  below  indicates that the Company may complete its plan upon a merger
with Universal Capital Management,  Inc. ("Universal"),  a Delaware corporation.
Universal is in the process of electing to become a publicly  traded  closed end
venture capital fund operating as a Business Development Company as described in
the Investment  Company Act of 1940.  Universal expects to be in the business of
providing funds,  management  expertise and strategic planning to privately held
emerging growth companies.  There is no assurance that this event will occur. If
it does not,  management will continue its efforts to seek other merger partners
in order to implement its business plan


                                       10
<PAGE>


            Subsequent Events

            On November 8, 2004,  the Company by Unanimous  Consent of directors
issued 100,000 shares of common stock to Nortia Capital Partners, Inc. (f/k/a BF
Acquisition  Group  I,  Inc.) in order  to  provide  satisfaction  for a debt of
$1,625.

            On November  10,  2004,  we entered  into an  Agreement  and Plan of
Merger with  Universal.  According to the terms of the Agreement,  each BF Group
IV, Inc.  shareholder  will have  received one half (0.5) share of voting common
stock of  Universal  par value  one-tenth of a cent  ($0.001) per share.  On the
Effective Date, BF Acquisition  Group IV, Inc. will cease to exist and Universal
will be the surviving company.


         Liquidity and Capital Resources.

         Our Financial  Statements  have been  prepared in  conformity  with the
United States generally accepted accounting principles.  The information for the
three and six months  ended  October 31,  2004 and 2003 has not been  audited by
independent certified public accountants.

         The financial  statements were prepared  assuming that the Company will
continue as a going concern.  However,  due to the Company's  accumulated losses
and working capital  deficiency  consideration must be given to the fact that we
may not be capable of continuing our efforts.

         However,  in  conjunction  with our search  for a  business  partner or
acquisition  and  specifically  Universal,  we intend to  overcome  this  "Going
Concern" issue for our Company. We cannot be assured,  however, that the Company
will, by its efforts,  complete the Universal  transaction  or obtain a business
partner or  acquisition  that will meet its  capital  needs for the next  twelve
months.

         Critical Accounting Estimates

         Other than the Going Concern issue, there were no material estimates or
assumptions for this reporting period.


         Controls And Procedures.

         As of the date this report is filed,  an evaluation was performed under
the supervision and with the participation of the Company's  principal executive
officer and financial  officer 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.  During the  period  covered  by this  report,
management  believes that the Company, in its development stage, has implemented
adequate controls and procedures.

Item 3.  Controls and Procedures

         Our management, under the supervision and with the participation of the
principal executive officer and principal  financial officer,  has evaluated the
effectiveness  of our  controls  and  procedures  related to our  reporting  and
disclosure  obligations  as of October 31, 2004,  which is the end of the period
covered by this Quarterly Report on Form 10-QSB.  Based on that evaluation,  the
principal  executive officer and principal financial officer have concluded that
our disclosure controls and procedures are effective.


                                       11
<PAGE>

                                     PART II
                                OTHER INFORMATION

         There were no changes that  occurred  during the fiscal  quarter  ended
October 31, 2004 that have  materially  affected,  or are  reasonably  likely to
materially affect, our internal controls over financial reporting.

Item 6.    Exhibits and Reports on Form 8-K

         Exhibits.

         Exhibit 31.1        Certification of Chief Executive Officer

         Exhibit 31.2        Certificate of Chief Financial Officer

         Exhibit 32          Certification Pursuant to Section 1350 of Chapter
                             63 of Title 18 of the United States Code

         Reports on Form 8-K

         Although  the  Company  did not file any  Current  Reports  on Form 8-K
during the three month period ended  October 31, 2004, it did file the following
such Current Reports after the end of such three month period:



      Date Filed                              Items Reported
      ----------                              --------------

   November 2, 2004       4.01 Changes in Registrant's Certifying Accountant

   November 12, 2004      1.01 Entry into a Material Definitive Agreement
                          3.02 Unregistered Sales of Equity Securities


                                   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 IV, INC.


Date:    December 15, 2004        By: /s/    William R. Colucci
                                      -----------------------------
                                      William R. Colucci, President, Principal
                                      Executive Officer and Principal Accounting
                                      Officer


                                       12
<PAGE>