UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION~~

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

X . QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~September~~March 3031, ~~2014~~2015

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

For the transition period from ____________ to ____________

Commission File Number 333-140663

MUNRO DEVELOPMENTS INC. ~~(Exact name of registrant as specified in its charter)~~

(Exact name of registrant as specified in its charter)



NEVADA	20-3872178
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

311 S Division St, Carson City, NV 89731 ~~(Address of principal executive offices) (Zip Code)~~

(Address of principal executive offices) (Zip Code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act

Large accelerated filer . Accelerated filer . Non-accelerated filer . (Do not check if a smaller reporting company) Smaller reporting company X .

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING

THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 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

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date 55,000,000 common shares issued and outstanding as of ~~December~~May 1231, ~~2014~~2015

~~CONTENTS~~Contents

PART 1 – FINANCIAL INFORMATION		3
Item 1. Financial Statements		4
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		10
Item 3. Critical Accounting Policies		12
Item 4. Controls and Procedures		14
PART II – OTHER INFORMATION		15
Item 1. Legal Proceedings		15
Item 1A. Risk Factors		15
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds		19
Item 3. Defaults Upon Senior Securities		19
Item 4. Submission of Matters to a Vote of Securities Holders		19
Item 5. Other Information		19
Item 6. Exhibits		20

PART 1 – FINANCIAL INFORMATION

Item 1. Financial Statements

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Item 3. Critical Accounting Policies

Item 4. Controls and Procedures

PART II OTHER INFORMATION

Item 1. Legal Proceedings

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

Item 3. Defaults Upon Senior Securities

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

Item 5. Other Information

Item 6. Exhibits

PART 1 – FINANCIAL INFORMATION

~~ITEM~~Item 1. ~~FINANCIAL~~Financial ~~STATEMENTS~~Statements

Our unaudited interim financial statements for the three month period ended ~~September~~March 3031, ~~2014~~2015 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States generally accepted accounting principles.

3Munro Developments Inc.

~~Munro~~Balance ~~Developments~~Sheets ~~Inc.~~(Unaudited)

Balance Sheets (Unaudited)



	March 31,		December 31,
	2015		2014
ASSETS
CURRENT ASSETS
Cash	$	2,564	$	10,000
Total Current Assets		2,564		10,000
	$	2,564	$	10,000

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	67,015	$	62,800
Advances from related parties		102,931		96,801
TOTAL CURRENT LIABILITIES		169,946		159,601

STOCKHOLDERS' EQUITY
Common stock,		55,000		55,000
Authorized - 75,000,000 $0.001 par value common shares Issued – 55,000,000 as of March 31, 2015 and December 31, 2014.
Deficit accumulated during the pre-exploration stage		(222,382)		(204,601)
TOTAL STOCKHOLDERS' EQUITY		(167,382)		(149,601)
	$	2,564	$	10,000

	September 30,		December 31,
	2014		2013
ASSETS
CURRENT ASSETS
Cash	$	10,000	$	−
Total Current Assets		−		−
	$	10,000	$	−
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$	62,800	$	41,800
Advances from related parties		96,801		86,801
TOTAL CURRENT LIABILITIES		159,601		128,601
STOCKHOLDERS' EQUITY
Common stock,		55,000		55,000
Authorized - 75,000,000 $0.001 par value common shares Issued – 55,000,000 as of September 30, 2014 and December 31, 2013.
Deficit accumulated during the pre-exploration stage		(204,601)		(183,601)
TOTAL STOCKHOLDERS' EQUITY		(149,601)		(128,601)
	$	10,000	$	−

See Accompanying Notes to Unaudited Financial Statements

~~See Accompanying Notes to Unaudited Financial Statements~~3

4Munro Developments Inc.

~~Munro~~Unaudited ~~Developments~~Statements ~~Inc.~~of Operations

Unaudited Statements of Operations


	Three months ended
	March 31, 2015		March 31, 2014
REVENUES	$	-	$	-

OPERATING EXPENSES
Management Fees and other		7,010		-
Legal Fees		6,130		-
Accounting Fees		-		2,500
Total Operating Expenses		13,140		2,500

INCOME (LOSS( BEFORE INCOME TAXES		(13,140)		(2,500)

PROVISION FOR INCOME TAXES		-		-

NET INCOME (LOSS)	$	(13,140)	$	(2,500)

NET INCOME (LOSS) PER SHARE	$	(0.00)	$	(0.00)

WEIGHTED AVERAGE NUMBER OF COMMON SHARES - (Basic and Fully Diluted)		55,000,000		55,000,000

	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013
REVENUES	$	−	$	−	$	−	$	−
OPERATING EXPENSES
Management Fees and other		−		3,000		13,000		9,000
Legal Fees		−		2,500		−		7,500
Accounting Fees		2,500		2,500		7,500		7,500
		500		−		500		−
Total Operating Expenses		3,000		8,000		21,000		24,000
INCOME (LOSS( BEFORE INCOME TAXES		(3,000)		(8,000)		(21,000)		(24,000)
PROVISION FOR INCOME TAXES		−		−		−		−
NET INCOME (LOSS)	$	(3,000)	$	(8,000)	$	(21,000)	$	(24,000)
NET INCOME (LOSS) PER SHARE	$	(0.00)	$	(0.00)	$	(0.00)	$	(0.00)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES		55,000,000		55,000,000		55,000,000		55,000,000
(Basic and Fully Diluted)

See Accompanying Notes to Unaudited Financial Statements

~~See Accompanying Notes to Unaudited Financial Statements~~4

5Munro Developments Inc.

~~Munro~~Unaudited ~~Developments~~Statements ~~Inc.~~of Cash Flows

Unaudited Statements of Cash Flows


	Three months Ended
	March 31, 2015		March 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(13,140)	$	(2,500)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Increase in Accounts Payable		13,140		2,500
Net Cash Provided (Used) by Operating Activities		-		-

CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of mineral claim		-		-
Net Cash Provided (Used) by Investing Activities		-		-
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related parties		6,130		-
Net Cash Provided (Used) by Financing Activities		6,130		-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(7,436)		-
CASH AND CASH EQUIVALENTS
Beginning		10,000		-
Ending	$	2,564	$	-
Supplemental Disclosures of Cash Flow Information:
Stock issued for services	$	-	$	-

	Nine months ended
	September 30, 2014		September 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)		(21,000)		(24,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Increase in Accounts Payable		21,000		15,000
Net Cash Provided (Used) by Operating Activities		−		(9,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of mineral claim		−		−
Net Cash Provided (Used) by Investing Activities		−		−
CASH FLOWS FROM FINANCING ACTIVITIES
Promissory notes – related parties		10,000		−
Advances from related parties		−		9,000
Net Cash Provided (Used) by Financing Activities		10,000-		9,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		10,000		-
CASH AND CASH EQUIVALENTS
Beginning		−		−
Ending		10,000		−
Supplemental Disclosures of Cash Flow Information:
Stock issued for services		−		−

See Accompanying Notes to Unaudited Financial Statements

~~See Accompanying Notes to Unaudited Financial Statements~~5

6Munro Developments Inc.

~~Munro~~Notes ~~Developments~~to ~~Inc.~~Unaudited Financial Statements

~~Notes~~For tothe ~~Unaudited~~Three ~~Financial~~Months ~~Statements~~Ended March 31, 2015

~~For~~(Expressed ~~the~~in ~~Nine~~U.S. ~~Months Ended September 30, 2014~~Dollars)

~~(Expressed~~1. inINCORPORATION ~~U.S.~~AND ~~Dollars)~~OPERATING ACTIVITIES

1The Company, Munro Developments Inc., ~~INCORPORATION~~was ~~AND~~incorporated ~~OPERATING~~under ~~ACTIVITIES~~the laws of the State of Nevada on November 17, 2003 with authorized capital stock of 75,000,000 shares at $0.001 par value under the name of Setchfield Resources Inc. The name was changed to Munro Developments Inc. on March 28, 2011.

The Company, ~~Munro Developments Inc.,~~ was ~~incorporated~~organized ~~under~~for the ~~laws~~purpose of ~~the~~acquiring ~~State~~and ofdeveloping ~~Nevada~~mineral onproperties. ~~November~~At ~~17,~~the ~~2003~~report ~~with~~date ~~authorized~~mineral ~~capital~~claims, ~~stock~~with ofunknown 75reserves,~~000,000~~ ~~shares~~had atbeen $0acquired.~~001~~ ~~par~~The ~~value~~Company ~~under~~has not established the ~~name~~existence of ~~Setchfield~~a ~~Resources~~commercially ~~Inc.~~minable ~~The~~ore ~~name~~deposit ~~was~~and ~~changed~~therefore tois ~~Munro~~still ~~Developments~~in ~~Inc.~~the onexploration ~~March 28, 2011~~stage.

~~The Company was organized for the purpose of acquiring and developing mineral properties~~2. AtSUMMARY ~~the~~OF ~~report~~SIGNIFICANT ~~date~~ACCOUNTING ~~mineral claims, with unknown reserves, had been acquired.~~POLICIES

2.Accounting ~~SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES~~Method

~~Accounting~~The ~~Method~~Company recognizes income and expenses based on the accrual method of accounting.

~~The~~Dividend ~~Company recognizes income and expenses based on the accrual method of accounting.~~Policy

~~Dividend~~The ~~Policy~~Company has not yet adopted a policy regarding payment of dividends.

~~The~~Basic ~~Company~~and ~~has~~Diluted ~~not~~Net ~~yet~~Loss ~~adopted~~Per ~~a policy regarding payment of dividends.~~Share

Basic ~~and~~net loss per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted ~~Net~~net ~~Loss~~loss ~~Per~~per ~~Share~~share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes anti-dilutive and then the basic and diluted per share amounts are the same. As of March 31, 2015 and 2014, no such common equivalent shares were excluded from net income (loss) per share.

~~Basic~~Income net loss per share amounts are computed based on the weighted average number of shares actually outstanding. Diluted net loss per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of the common share rights unless the exercise becomes anti-dilutive and then the basic and diluted per share amounts are the same. As of September 30, 2014 and 2013, no such common equivalent shares were excluded from net income (loss) per share.Taxes

~~Income~~The ~~Taxes~~Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.

~~The~~As ~~Company~~of ~~utilizes~~December ~~the~~31, ~~liability~~2014 ~~method~~and of2013, ~~accounting~~the ~~for~~Company has no unrecognized income ~~taxes~~tax benefits. ~~Under~~The ~~the~~Company’s ~~liability~~policy ~~method~~for ~~deferred~~classifying ~~tax~~interest ~~assets~~ and ~~liabilities~~penalties ~~are~~associated ~~determined~~with ~~based~~unrecognized onincome ~~differences~~tax ~~between~~benefits ~~financial~~is ~~reporting~~to ~~and~~include ~~the~~such ~~tax~~items ~~bases~~as oftax ~~the~~expense. ~~assets~~No ~~and~~interest ~~liabilities~~or ~~and~~penalties ~~are~~have ~~measured~~been ~~using~~recorded during the ~~enacted~~years ~~tax~~ended ~~rates~~December ~~and~~31, ~~laws~~2014, ~~that~~and ~~will~~2013 beand inno ~~effect,~~interest ~~when~~or ~~the~~penalties ~~differences~~have ~~are~~been ~~expected~~accrued toas beof ~~reversed.~~December An31, ~~allowance~~2014 ~~against~~and ~~deferred~~2013. ~~tax~~As ~~assets~~of isDecember ~~recorded~~31, ~~when~~2014 itand is2013, ~~more~~the ~~likely~~Company ~~than~~did not, ~~that~~have ~~such~~any ~~tax~~amounts ~~benefits~~recorded ~~will~~pertaining ~~not~~to beuncertain ~~realized~~tax positions.

Year Ended	Estimated NOL Carry-Forward		NOL Expires	Estimated Tax Benefit from NOL		Valuation Allowance		Net Tax Benefit
2006	$	6,483	2026	$	2,204	$	(2,204)	$	−
2007		63,318	2027		21,528		(21,528)		−
2008		12,000	2028		4,080		(4,080)		−
-2009		12,000	2029		4,080		(4,080)		−
2010		12,000	2030		4,080		(4,080)		−
2011		12,000	2031		4,080		(4,080)		−
2012		32,000	2032		10,880		(10,880)		−
2013		33,800	2033		11,500		(11,500)		−
	$	183,601		$	62,432	$	(62,432)	$	−

The tax years from 2010 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities.

7Impairment of Long-lived Assets

The ~~total~~Company ~~valuation~~reviews ~~allowance~~and asevaluates oflong-lived ~~December~~assets ~~31,~~for ~~2013~~impairment ~~was~~when ~~$62~~events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done,~~432,~~ ~~which~~the ~~increased~~analysis bywill ~~$11~~be performed using rules of ASC 930-360-35,~~500~~ ~~for~~Asset ~~the~~Impairment, ~~year~~and ~~ended~~360-10-15-3 ~~December~~through 3115-5, ~~2012~~Impairment or Disposal of Long-Lived Assets.

As of December 31, 2013 and 2012, the Company has no unrecognized income tax benefits. The Company’s policy for classifying interest and penalties associated with unrecognized income tax benefits is to include such items as tax expense. No interest or penalties have been recorded during the years ended December 31, 2013, and 2012 and no interest or penalties have been accrued as of December 31, 2013 and 2012. As of December 31, 2013 and 2012, the Company did not have any amounts recorded pertaining to uncertain tax positions.6

~~The~~Foreign ~~tax~~Currency years from 2010 and forward remain open to examination by federal and state authorities due to net operating loss and credit carryforwards. The Company is currently not under examination by the Internal Revenue Service or any other taxing authorities.Translations

~~Impairment~~The books of ~~Long-lived~~the ~~Assets~~Company are maintained in United States dollars and this is the Company’s functional and reporting currency. Transactions denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations:

The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under ASC 360-10-35-17 if events or circumstances indicate that their carrying amounts might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using rules of ASC 930-360-35, Asset Impairment, and 360-10-15-3 through 15-5, Impairment or Disposal of Long-Lived Assets.(i)

~~Foreign~~Monetary ~~Currency~~items ~~Translations~~are recorded at the rate of exchange prevailing as at the balance sheet date;

The books of the Company are maintained in United States dollars and this is the Company’s functional and reporting currency. Transactions denominated in other than the United States dollar are translated as follows with the related transaction gains and losses being recorded in the Statement of Operations:(ii)

~~(i)~~Non-Monetary items including equity are recorded at the historical rate of exchange; and

~~Monetary items are recorded at the rate of exchange prevailing as at the balance sheet date;~~(iii)

~~(ii)~~Revenues and expenses are recorded at the period average in which the transaction occurred.

~~Non-Monetary items including equity are recorded at the historical rate of exchange; and~~Investments

~~(iii)~~Investments in companies that are not consolidated, but over which the Company exercises significant influence, are accounted for under the equity method of accounting. Whether or not the Company exercises significant influence with respect to an investee depends on an evaluation of several factors, including, among others, ownership level. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Balance Sheets and Statements of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s Balance Sheets. The Company evaluates these investments for other-than-temporary declines in value each quarterly period. Any impairment found to be other than temporary would be recorded through a charge to earnings.

~~Revenues~~Revenue ~~and expenses are recorded at the period average in which the transaction occurred.~~Recognition

~~Investments~~Revenue from the sale of minerals will be recognized when a contract is in place and minerals are delivered to the customer.

~~Investments~~Mineral inclaim ~~companies~~acquisition that are not consolidated, but over which the Company exercises significant influence, are accounted for under the equity method of accounting. Whether or not the Company exercises significant influence with respect to an investee depends on an evaluation of several factors, including, among others, ownership level. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Balance Sheets and ~~Statements~~exploration of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s Balance Sheets. The Company evaluates these investments for other-than-temporary declines in value each quarterly period. Any impairment found to be other than temporary would be recorded through a charge to earnings. costs

~~Revenue~~The ~~Recognition~~cost of acquiring mineral properties or claims is initially capitalized and then tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Mineral exploration costs are expensed as incurred.

~~Revenue~~Advertising ~~from the sale of minerals will be recognized when a contract is in place~~ and ~~minerals~~Market ~~are delivered to the customer.~~Development

~~Mineral~~The ~~claim~~company ~~acquisition~~expenses advertising and ~~exploration~~market development costs as incurred.

~~The~~Financial cost of acquiring mineral properties or claims is initially capitalized and then tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Mineral exploration costs are expensed as incurred.Instruments

8The carrying amounts of financial instruments are considered by management to be their fair value due to their short term maturities.

~~Advertising~~Estimates and ~~Market Development~~Assumptions

~~The~~Management ~~company~~uses ~~expenses~~estimates ~~advertising~~and assumptions in preparing financial statements in accordance with general accepted accounting principles. Those estimates and ~~market~~assumptions ~~development~~affect ~~costs~~the asreported ~~incurred~~amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.

~~Financial~~Statement ~~Instruments~~of Cash Flows

~~The~~For ~~carrying~~the ~~amounts~~purposes of ~~financial~~the ~~instruments~~statement ~~are~~of ~~considered~~cash byflows, ~~management~~the toCompany beconsiders ~~their~~all ~~fair~~highly ~~value~~liquid ~~due~~investments towith ~~their~~a ~~short~~maturity ~~term~~of ~~maturities~~three months or less to be cash equivalents.

~~Estimates~~Environmental ~~and Assumptions~~Requirements

~~Management~~At ~~uses~~the ~~estimates~~report ~~and~~date ~~assumptions~~environmental inrequirements ~~preparing~~related ~~financial~~to ~~statements in accordance with general accepted accounting principles. Those estimates and assumptions affect~~ the ~~reported~~mineral ~~amounts~~claim ofacquired ~~the~~are ~~assets~~unknown and ~~liabilities,~~therefore ~~the~~any ~~disclosure~~estimate of ~~contingent~~any ~~assets~~future ~~and~~cost ~~liabilities,~~cannot ~~and~~be ~~the reported revenues and expenses~~made. ~~Actual results could vary from the estimates that were assumed in preparing these financial statements.~~

~~Statement~~Recent ofAccounting ~~Cash Flows~~Pronouncements

~~For~~The ~~the~~Company ~~purposes~~does ofnot ~~the~~expect ~~statement~~that ~~of cash flows,~~ the ~~Company~~adoption ~~considers~~of ~~all~~other ~~highly~~recent ~~liquid~~accounting ~~investments~~pronouncements ~~with~~will have a ~~maturity~~material ofimpact ~~three~~on ~~months~~its orfinancial ~~less to be cash equivalents~~statements.

~~Environmental Requirements~~7

At3. ~~the~~ACQUISITION ~~report~~OF ~~date~~MINERAL ~~environmental requirements related to the mineral claim acquired are unknown and therefore any estimate of any future cost cannot be made.~~CLAIM

~~Recent~~On ~~Accounting~~December ~~Pronouncements~~2, 2005, the Company acquired the Eclipse Gold Property located in the Amai Inlet area of British Columbia, Canada from an unrelated company, for the consideration of $5,000. This area is located 320 kilometers northwest of Vancouver, British Columbia and has access by road through Zeballis, British Columbia.

The ~~Company~~acquisition ~~does~~costs ~~not~~have ~~expect~~been ~~that~~impaired ~~the~~and ~~adoption~~expensed ofbecause ~~other~~there ~~recent~~has ~~accounting~~been ~~pronouncements~~limited ~~will~~exploration ~~have~~activity aand ~~material~~there ~~impact~~has onbeen ~~its~~no ~~financial~~reserve ~~statements~~established and we cannot currently project any future cash flows or salvage value.

34. ~~ACQUISITION~~SIGNIFICANT OFTRANSACTIONS ~~MINERAL~~WITH ~~CLAIM~~RELATED PARTIES

OnFor ~~December 2, 2005,~~ the ~~Company~~three ~~acquired~~months ~~the~~ended ~~Eclipse~~March ~~Gold~~31, ~~Property~~2015, ~~located~~related inparties ~~the~~made ~~Amai~~accrual ~~Inlet area~~ of ~~British~~management ~~Columbia,~~fees ~~Canada~~due ~~from~~to anits ~~unrelated~~director ~~company,~~of ~~for~~$nil ~~the~~(2014 ~~consideration of~~ -$~~5,000~~nil). ~~This~~The ~~area~~total isamount ~~located~~due ~~320~~the ~~kilometers~~officer ~~northwest~~and ofdirector ~~Vancouver~~is $102,931. ~~British~~The ~~Columbia~~accruals ~~and~~are ~~has~~non-interest ~~access~~bearing, byunsecured ~~road~~and ~~through~~payable ~~Zeballis,~~on ~~British Columbia~~demand.

~~The~~5. ~~acquisition~~GOING costs have been impaired and expensed because there has been limited exploration activity and there has been no reserve established and we cannot currently project any future cash flows or salvage value.CONCERN

4The Company will need additional working capital to accomplish its intended purpose of exploring its mining claim, which raises substantial doubt about its ability to continue as a going concern. ~~SIGNIFICANT~~Management ~~TRANSACTIONS~~of ~~WITH~~the ~~RELATED~~Company ~~PARTIES~~has developed a strategy, which it believes will accomplish this objective through Director Advances, additional equity funding, and long term financing, which will enable the Company to operate for the coming year.

For the nine months ended September 30, 2014, related parties made accrual of management fees due to its director of $nil (2013 -$9000). The total amount due the officer and director is $86,801. The accrual has been settled as a convertible promissory note, convertible into shares at the rate of ten times par value or $0.01 per share. The note has a 5 per cent interest rate and is due on January 1, 2005. On July 1, 2014, the Company borrowed $10,000 from its sole officer and director. The loan is non-interest bearing, unsecured and payable on demand.8

5Item 2. ~~GOING~~Management’s ~~CONCERN~~Discussion and Analysis of Financial Condition and Results of Operations

~~The~~Forward-Looking Company will need additional working capital to accomplish its intended purpose of exploring its mining claim, which raises substantial doubt about its ability to continue as a going concern. Management of the Company has developed a strategy, which it believes will accomplish this objective through Director Advances, additional equity funding, and long term financing, which will enable the Company to operate for the coming year.Statements

9This quarterly report contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled "Risk Factors” that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

~~ITEM~~Our 2unaudited financial statements prepared in accordance with United States Generally Accepted Accounting Principles. ~~MANAGEMENT’S~~The ~~DISCUSSION~~following ~~AND~~discussion ~~ANALYSIS~~should OFbe ~~FINANCIAL~~read ~~CONDITION~~in ~~AND~~conjunction ~~RESULTS~~with OFour ~~OPERATIONS~~financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report, particularly in the section entitled "Risk Factors" of this quarterly report.

~~Forward-Looking~~In ~~Statements~~this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars. All references to "common shares" refer to the common shares in our capital stock.

~~This~~As ~~quarterly~~used ~~report contains forward-looking statements as that term is defined~~ in ~~the~~this ~~Private~~quarterly ~~Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance. In some cases~~report, ~~you~~the ~~can~~terms ~~identify forward-looking statements by terminology such as~~ "~~may~~we", "~~should~~us", "~~expects~~our", ~~"plans",~~and "~~anticipates~~Munro", ~~"believes",~~mean ~~"estimates",~~Munro ~~"predicts",~~Developments ~~"potential" or "continue" or the negative of these terms or other comparable terminology~~Inc. ~~These statements are only predictions and involve known and unknown risks~~, ~~uncertainties~~unless ~~and~~otherwise other factors, including the risks in the section entitled "Risk Factors” that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statementsindicated. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

~~Our~~General unaudited financial statements prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report, particularly in the section entitled "Risk Factors" of this quarterly report.Overview

InWe ~~this~~were ~~quarterly~~incorporated ~~report,~~pursuant ~~unless~~to ~~otherwise~~the ~~specified,~~laws ~~all~~of ~~dollar~~the ~~amounts~~State ~~are~~of ~~expressed~~Nevada inon ~~United~~November ~~States~~17, ~~dollars.~~2003 ~~All~~under ~~references~~the toname ~~"common~~Setchfield ~~shares"~~Resources ~~refer~~Inc. toThe ~~the~~Company’s ~~common~~name ~~shares~~was inchanged ~~our~~to ~~capital~~Munro ~~stock~~Developments on March 28, 2011.

AsOur ~~used~~principal inoffice ~~this~~is ~~quarterly~~located ~~report,~~at ~~the~~311 ~~terms~~S. ~~"we",~~Division ~~"us"~~St, ~~"our"~~Carson ~~and~~City, ~~"Munro " mean Munro Developments Inc.~~Nevada, ~~unless otherwise indicated~~89731.

~~General~~As ~~Overview~~our common shares are not listed, there is no public market for our common shares.

WePlan ~~were incorporated pursuant to the laws~~ of ~~the State of Nevada on November 17, 2003 under the name Setchfield Resources Inc. The Company’s name was changed to Munro Developments on March 28, 2011.~~Operations

Our ~~principal~~business ~~office~~plan is ~~located~~to atproceed ~~311~~with Sthe exploration of the Eclipse Mine Property to determine whether there is any potential for gold on the properties that comprise the mineral claims. ~~Division~~We Sthave decided to proceed with the exploration program recommended by the geological report. We anticipate that the three phases of the recommended geological exploration program will cost approximately $30,000, ~~Carson~~$90,000 ~~City~~and $180,000 ~~Nevada~~respectively. We had $2,564 ~~89731~~in cash as of March 31, 2015. We spent $2,985 maintaining the property and/or visiting the property as of the three months ended March 31, 2015.

AsWe ~~our~~anticipate ~~common~~that ~~shares~~we ~~are~~will ~~not~~incur ~~listed,~~the ~~there~~following isexpenses noover ~~public~~the ~~market~~next ~~for~~twelve ~~our common shares.~~months:

~~Plan of Operations~~·

~~Our~~$327 ~~business~~to ~~plan~~be ispaid to ~~proceed with~~ the ~~exploration~~British ofColumbia ~~the~~Provincial ~~Eclipse~~government ~~Mine Property~~ to ~~determine~~keep ~~whether there is any potential for gold on~~ the ~~properties that comprise the mineral~~ claims. We have decided to proceed with the exploration program recommended by the geological report. We anticipate that the three phases of the recommended geological exploration program will cost approximately $30,000, $90,000 and $180,000 respectively. We had $10,000 in cash as of September 30, 2014. This lack of cash has kept us from conducting any exploration work on the property.valid;

~~We anticipate that we will incur the following expenses over the next twelve months:~~·

·$30,000 in connection with the completion of Phase 1 of our recommended geological work program;

~~$875 to be paid to the British Columbia Provincial government to keep the claims valid;~~·

·$90,000 in connection with the completion of Phase 2 of our recommended geological work program;

~~$30,000 in connection with the completion of Phase 1 of our recommended geological work program;~~·

·$180,000 for Phase 3 of our recommended geological work program; and

~~$90,000 in connection with the completion of Phase 2 of our recommended geological work program;~~·

·$32,000 for operating expenses, including professional legal and accounting expenses associated with compliance with the periodic reporting requirements.

~~$180,000 for Phase 3 of our recommended geological work program; and~~9

·If we determine not to proceed with further exploration of our mineral claims due to a determination that the results of our initial geological program do not warrant further exploration or due to an inability to finance further exploration, we plan to pursue the acquisition of an interest in other mineral claims. We anticipate that any future acquisition would involve the acquisition of an option to earn an interest in a mineral claim as we anticipate that we would not have sufficient cash to purchase a mineral claim of sufficient merit to warrant exploration. This means that we might offer shares of our stock to obtain an option on a property. Once we obtain an option, we would then pursue finding the funds necessary to explore the mineral claim by one or more of the following means: engaging in an offering of our stock; engaging in borrowing; or locating a joint venture partner or partners.

~~$32,000~~Results ~~for~~of ~~operating expenses, including professional legal and accounting expenses associated with compliance with the periodic reporting requirements.~~Operations

10We have not yet earned any revenues. We anticipate that we will not earn revenues until such time as we have entered into commercial production, if any, of our mineral properties. We are presently in the exploration stage of our business and we can provide no assurance that we will discover commercially exploitable levels of mineral resources on our properties, or if such resources are discovered, that we will enter into commercial production of our mineral properties. Our net loss for the three months ended March 31, 2015 was $13,140 ($2,500 for the three months ended March 31, 2014).

IfLiquidity weand ~~determine~~Capital not to proceed with further exploration of our mineral claims due to a determination that the results of our initial geological program do not warrant further exploration or due to an inability to finance further exploration, we plan to pursue the acquisition of an interest in other mineral claims. We anticipate that any future acquisition would involve the acquisition of an option to earn an interest in a mineral claim as we anticipate that we would not have sufficient cash to purchase a mineral claim of sufficient merit to warrant exploration. This means that we might offer shares of our stock to obtain an option on a property. Once we obtain an option, we would then pursue finding the funds necessary to explore the mineral claim by one or more of the following means: engaging in an offering of our stock; engaging in borrowing; or locating a joint venture partner or partners.Resources

~~Results~~Our cash totalled $2,564 at the end of ~~Operations~~the period on March 31, 2015. Accounts payable at the end of the period on March 31, 2015 was $67,015 and we received advances from related parties of $102,931. Since our inception on November 17, 2003, to the end of the period on March 31, 2015, we have incurred a loss of ($217,741).

WeBased ~~have~~on ~~not~~our ~~yet~~current ~~earned~~operating ~~any~~plan, ~~revenues.~~we Wedo ~~anticipate~~not expect to generate revenue that weis ~~will~~sufficient ~~not~~to ~~earn~~cover ~~revenues~~our ~~until~~expenses ~~such~~for ~~time~~at asleast the next twelve months. In addition, we do not have ~~entered~~sufficient ~~into~~cash ~~commercial~~and ~~production,~~cash ifequivalents ~~any,~~to ofexecute our ~~mineral~~operations ~~properties~~for at least the next twelve months. We ~~are~~will ~~presently~~need into obtain additional financing to operate our business for the ~~exploration~~next ~~stage~~twelve ofmonths. We will raise the capital necessary to fund our business through a private placement and wepublic ~~can~~offering ~~provide~~of noour ~~assurance~~common ~~that~~stock. weAdditional ~~will~~financing, ~~discover~~whether ~~commercially~~through ~~exploitable~~public ~~levels~~or ofprivate ~~mineral~~equity ~~resources~~or ondebt ~~our~~financing, ~~properties~~arrangements with stockholders or other sources to fund operations, may not be available, or if ~~such~~available, ~~resources~~may ~~are~~be ~~discovered,~~on ~~that~~terms weunacceptable ~~will~~to ~~enter~~us. ~~into~~Our ~~commercial~~ability ~~production~~to ofmaintain sufficient liquidity is dependent on our ~~mineral~~ability ~~properties~~to raise additional capital. ~~Our~~If ~~net~~we ~~loss~~issue ~~for~~additional equity securities to raise funds, the ~~three~~ownership ~~months~~percentage ~~ended~~of ~~September~~our ~~30,~~existing ~~2014~~stockholders ~~was~~would ~~$3,000~~be ~~($8~~reduced. New investors may demand rights,~~000~~ ~~for~~preferences ~~the~~or ~~three~~privileges ~~months~~senior ~~ended~~to ~~September~~those ~~30,~~of ~~2013)~~existing holders of our common stock. ~~Our~~Debt ~~net~~incurred ~~loss~~by ~~for~~us would be senior to equity in the ~~nine~~ability ~~months~~of ~~ended~~debt ~~September~~holders ~~30,~~to ~~2014~~make ~~was~~claims ~~$21,000~~on ~~($24000~~our ~~for~~assets. ~~the~~The ~~nine~~terms ~~months~~of ~~ended~~any ~~September~~debt 30issued could impose restrictions on our operations. If adequate funds are not available to satisfy either short or long-term capital requirements, ~~2013)~~our operations and liquidity could be materially adversely affected and we could be forced to cease operations.

~~Liquidity and Capital Resources~~Trends

~~Our~~From ~~cash~~our ~~totaled~~date ~~$10,000~~of atinception ~~the~~we ~~end~~have ofbeen ~~the~~a ~~period~~pre-exploration oncompany ~~September~~which ~~30,~~has ~~2014.~~produced ~~Accounts~~no ~~payable~~revenue atand ~~the~~maybe ~~end~~will ofnot ~~the~~be ~~period~~able onto ~~September~~produce ~~30, 2014was $62,800~~revenue. ~~Promissory~~To ~~notes payable at~~ the ~~end~~knowledge of ~~the~~management ~~period~~we onare ~~September~~unaware ~~30,~~of ~~2014~~any ~~was~~trends ~~$96,801.~~or ~~Since~~past ~~our~~and ~~inception~~future onevents ~~November~~which ~~17,~~will ~~2003,~~have toa ~~the~~material ~~end~~effect ofupon ~~the~~our ~~period~~Company, onits ~~September~~income ~~30,~~and ~~2014~~business, weboth ~~have~~in ~~incurred~~the along ~~loss~~and ofshort ~~($204,601)~~term.

~~Based~~Critical onAccounting ~~our~~Policies ~~current operating plan, we do not expect to generate revenue that is sufficient to cover our expenses for at least the next twelve months. In addition, we do not have sufficient cash~~ and cash equivalents to execute our operations for at least the next twelve months. We will need to obtain additional financing to operate our business for the next twelve months. We will raise the capital necessary to fund our business through a private placement and public offering of our common stock. Additional financing, whether through public or private equity or debt financing, arrangements with stockholders or other sources to fund operations, may not be available, or if available, may be on terms unacceptable to us. Our ability to maintain sufficient liquidity is dependent on our ability to raise additional capital. If we issue additional equity securities to raise funds, the ownership percentage of our existing stockholders would be reduced. New investors may demand rights, preferences or privileges senior to those of existing holders of our common stock. Debt incurred by us would be senior to equity in the ability of debt holders to make claims on our assets. The terms of any debt issued could impose restrictions on our operations. If adequate funds are not available to satisfy either short or long-term capital requirements, our operations and liquidity could be materially adversely affected and we could be forced to cease operations.Estimates

~~Trends~~In presenting our financial statements in conformity with U.S. generally accepting accounting principles, or GAAP, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses and related disclosures.

~~From~~Some ~~our date~~ of ~~inception~~the weestimates ~~have~~and ~~been~~assumptions awe ~~pre-exploration~~are ~~company~~required ~~which~~to ~~has~~make ~~produced~~relate noto ~~revenue~~matters ~~and~~that ~~maybe~~are ~~will~~inherently ~~not~~uncertain beas ~~able~~they pertain to ~~produce~~future ~~revenue~~events. ToWe ~~the~~base ~~knowledge~~these ofestimates ~~management~~and weassumptions ~~are~~on ~~unaware~~historical ofexperience ~~any~~or ~~trends~~on orvarious ~~past~~other ~~and~~factors ~~future~~that ~~events~~we ~~which~~believe ~~will~~to ~~have~~be areasonable ~~material~~and ~~effect~~appropriate ~~upon~~under ~~our~~the ~~Company,~~circumstances. ~~its~~On ~~income~~an ~~and~~ongoing ~~business~~basis, ~~both~~we inreconsider ~~the~~and ~~long~~evaluate our estimates and ~~short~~assumptions. ~~term~~Actual results may differ significantly from these estimates.

~~Critical~~We ~~Accounting~~believe ~~Policies~~that the critical accounting policies listed below involve our more significant judgments, assumptions and ~~Estimates~~estimates and, therefore, could have the greatest potential impact on our financial statements. In addition, we believe that a discussion of these policies is necessary to understand and evaluate the financial statements contained in this Form 10-Q.

In presenting our financial statements in conformity with U.S. generally accepting accounting principles, or GAAP, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses and related disclosures.10

~~Some~~Estimates ~~of the estimates~~ and assumptions we are required to make relate to matters that are inherently uncertain as they pertain to future events. We base these estimates and assumptions on historical experience or on various other factors that we believe to be reasonable and appropriate under the circumstances. On an ongoing basis, we reconsider and evaluate our estimates and assumptions. Actual results may differ significantly from these estimates.Assumptions

WeManagement ~~believe~~uses ~~that~~estimates ~~the~~and ~~critical~~assumptions ~~accounting~~in ~~policies~~preparing ~~listed~~financial ~~below~~statements ~~involve~~in ~~our~~accordance ~~more~~with ~~significant~~general ~~judgments,~~accepted ~~assumptions~~accounting ~~and~~principles. Those estimates and, ~~therefore,~~assumptions ~~could~~affect ~~have~~ the ~~greatest~~reported ~~potential~~amounts ~~impact~~of onthe ~~our~~assets ~~financial~~and ~~statements.~~liabilities, Inthe ~~addition,~~disclosure weof ~~believe~~contingent ~~that~~assets aand ~~discussion~~liabilities, ofand ~~these~~the ~~policies~~reported isrevenues ~~necessary~~and toexpenses. Actual ~~understand~~results ~~and~~could ~~evaluate~~vary from the ~~financial~~estimates ~~statements~~that ~~contained~~were assumed in ~~this~~preparing ~~Form~~these ~~10-K~~financial statements.

11Mineral claim acquisition and exploration costs

~~Estimates~~The cost of acquiring mineral properties or claims is initially capitalized and ~~Assumptions~~then tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Mineral exploration costs are expensed as incurred.

~~Management~~Income uses estimates and assumptions in preparing financial statements in accordance with general accepted accounting principles. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.Taxes

~~Mineral~~The ~~claim~~Company ~~acquisition~~utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and ~~exploration~~liabilities ~~costs~~are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.

~~The~~Recent ~~cost~~Accounting of acquiring mineral properties or claims is initially capitalized and then tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Mineral exploration costs are expensed as incurred.Pronouncements

~~Income~~The ~~Taxes~~Company does not expect the adoption of any recent accounting pronouncements to have a materially impact on its financial statements.

~~The~~Item ~~Company utilizes the liability method of accounting for income taxes~~3. ~~Under~~Critical ~~the~~Accounting liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed. An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.Policies

~~Recent~~Resource ~~Accounting~~Properties ~~Pronouncements~~- Company follows the successful efforts method of accounting for its oil and gas properties. Unproved oil and gas properties are periodically assessed and any impairment in value is charged to exploration expense. The costs of unproved properties, which are determined to be productive are transferred to proved resource properties and amortized on an equivalent unit-of-production basis. Exploratory expenses, including geological and geophysical expenses and delay rentals for unevaluated resource properties, are charged to expense as incurred. Exploratory drilling costs are charged as expenses until it is determined that the company has proven oil and gas reserves.

~~The~~Basis ~~Company~~of ~~does~~Presentation ~~not~~-These ~~expect~~financial ~~the~~statements ~~adoption~~and ofrelated ~~any~~notes ~~recent~~are presented in accordance with accounting ~~pronouncements~~principles togenerally ~~have~~accepted ain ~~materially~~the ~~impact~~United onStates, ~~its~~and ~~financial~~are ~~statements~~expressed in U.S. dollars. The Company’s fiscal year-end is December 31.

~~ITEM~~Use 3of Estimates - The preparation of financial statements in accordance with U.S. ~~CRITICAL~~generally ~~ACCOUNTING~~accepted ~~POLICIES~~accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses in the reporting period. We regularly evaluate our estimates and assumptions related to the useful life and recoverability of long-lived assets, stock-based compensation and deferred income tax asset valuation allowances. We base our estimates and assumptions on current facts, historical experience and various other factors that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by us may differ materially and adversely from our estimates. To the extent there are material differences between our estimates and the actual results, our future results of operations will be affected.

~~Resource~~Cash ~~Properties – Company follows the successful efforts method of accounting for its oil~~ and ~~gas~~Cash ~~properties.~~Equivalents ~~Unproved~~- ~~oil~~The ~~and~~Company ~~gas~~considers ~~properties~~all ~~are~~highly ~~periodically~~liquid ~~assessed~~instruments ~~and~~with ~~any~~original ~~impairment~~maturities inof ~~value~~three ismonths ~~charged~~or toless ~~exploration~~when ~~expense. The costs of unproved properties~~acquired, ~~which are determined~~ to be ~~productive~~cash ~~are~~equivalents. ~~transferred~~We tohad ~~proved~~no ~~resource~~cash ~~properties~~equivalents ~~and~~at ~~amortized~~March ~~on an equivalent unit-of-production basis. Exploratory expenses~~31, ~~including~~2015 ~~geological~~or ~~and geophysical expenses and delay rentals for unevaluated resource properties~~2014, ~~are charged to expense as incurred~~respectively. ~~Exploratory drilling costs are charged as expenses until it is determined that the company has proven oil and gas reserves.~~

~~Basis~~Income Taxes -Potential benefits of ~~Presentation~~income –tax ~~These~~losses ~~financial~~are ~~statements~~not ~~and~~recognized ~~related~~in ~~notes~~the ~~are~~accounts ~~presented~~until inrealization ~~accordance~~is ~~with~~more ~~accounting~~likely ~~principles~~than ~~generally~~not. ~~accepted~~The inCompany ~~the~~has ~~United~~adopted ~~States~~ASC 740, ~~and~~Income ~~are~~Taxes, ~~expressed~~as inof Uits inception.S. ~~dollars~~Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in these financial statements because the Company’s ~~fiscal~~cannot ~~year-end~~be assured it is ~~December~~more 31likely than not it will utilize the net operating losses carried forward in future years.

~~Use~~Comprehensive ofLoss- ~~Estimates~~ASC –220, ~~The~~Comprehensive ~~preparation~~Income, ofestablishes ~~financial~~standards ~~statements~~for ~~in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect~~ the ~~reported~~reporting ~~amounts of assets~~ and ~~liabilities~~display ~~at the date~~ of ~~the~~comprehensive ~~financial~~loss ~~statements~~ and ~~the~~its ~~reported~~components ~~amounts of net revenue and expenses~~ in the ~~reporting~~financial ~~period~~statements. WeAs ~~regularly evaluate our estimates and assumptions related to the useful life and recoverability~~ of ~~long-lived~~March ~~assets~~31, ~~stock-based~~2015 ~~compensation~~ and ~~deferred~~2014, ~~income~~the ~~tax~~Company ~~asset~~has ~~valuation~~no ~~allowances.~~items Wethat ~~base~~represent ~~our~~comprehensive ~~estimates~~loss and ~~assumptions on current facts~~, ~~historical experience and various other factors that we believe to be reasonable under the circumstances~~therefore, ~~the~~has ~~results~~not ofincluded ~~which~~a ~~form~~schedule ~~the basis for making judgments about the carrying values~~ of ~~assets~~comprehensive ~~and~~loss ~~liabilities~~in ~~and~~ the ~~accrual~~financial ~~of costs and expenses that are not readily apparent from other sources~~statements. The actual results experienced by us may differ materially and adversely from our estimates. To the extent there are material differences between our estimates and the actual results, our future results of operations will be affected.

Cash and Cash Equivalents – The Company considers all highly liquid instruments with original maturities of three months or less when acquired, to be cash equivalents. We had no cash equivalents at September 30, 2014 or 2013, respectively.11

~~Income~~Stock ~~Taxes~~Based –Compensation- ~~Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted~~ ASC ~~740~~718, ~~Income~~Stock-based ~~Taxes~~compensation, asestablishes ofstandards ~~its~~for ~~inception. Pursuant to ASC 740,~~ the ~~Company~~reporting isand ~~required~~display ~~to compute tax asset benefits for net operating losses carried forward. The potential benefits~~ of ~~net~~stock ~~operating~~based ~~losses~~compensation ~~have not been recognized~~ in ~~these~~the financial statements. ~~because~~During the ~~Company~~three ~~cannot~~months beended ~~assured~~March it31, is2015, ~~more~~there ~~likely~~was ~~than~~no ~~not~~stock itbased ~~will utilize the net operating losses carried forward in future years~~compensation.

12Loss per Common Share-The Company computes net loss per share in accordance with ASC 260, Earnings Per Share, which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.

~~Comprehensive~~Fair ~~Loss~~Value –of Financial Instruments- ASC ~~220~~820, ~~Comprehensive~~“Fair ~~Income~~Value Measurements” and ASC 825, ~~establishes~~Financial ~~standards~~Instruments, ~~for~~requires ~~the~~an ~~reporting~~entity ~~and~~to ~~display~~maximize the use of ~~comprehensive~~observable ~~loss~~inputs and ~~its~~minimize ~~components~~the inuse ~~the~~of ~~financial~~unobservable ~~statements~~inputs when measuring fair value. AsIt ofestablishes ~~September~~a ~~30,~~fair ~~2014~~value ~~and~~hierarchy ~~2013~~based on the level of independent, objective evidence surrounding the ~~Company~~inputs ~~has~~used noto ~~items~~measure ~~that~~fair ~~represent~~value. ~~comprehensive~~A ~~loss~~financial ~~and,~~instrument’s ~~therefore,~~categorization ~~has~~within ~~not~~the ~~included~~fair avalue ~~schedule~~hierarchy is based upon the lowest level of ~~comprehensive~~input ~~loss~~that inis significant to the ~~financial~~fair ~~statements~~value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:

~~Stock~~Level Based Compensation – ASC 718, Stock-based compensation, establishes standards for the reporting and display of stock based compensation in the financial statements. During the year ended September 30, 2014, there was no stock based compensation.1

~~Loss~~Level ~~per~~1 ~~Common~~applies ~~Share~~to –assets ~~The~~or ~~Company~~liabilities ~~computes~~for ~~net loss per share in accordance with ASC 260, Earnings Per Share,~~ which ~~requires~~there ~~presentation~~are ofquoted ~~both~~prices ~~basic~~in ~~and~~active ~~diluted~~markets earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for ~~the~~identical ~~period~~assets ~~is used in determining the number of shares assumed to be purchased from the exercise of stock options~~ or ~~warrants~~liabilities. ~~Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive.~~

~~Fair~~Level Value of Financial Instruments – ASC 820, “Fair Value Measurements” and ASC 825, Financial Instruments, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. It establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. It prioritizes the inputs into three levels that may be used to measure fair value:2

Level 12 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level ~~1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.~~3

Level 23 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

~~Level~~The 2following ~~applies~~schedule tosummarizes ~~assets~~the orvaluation ~~liabilities~~of ~~for~~financial ~~which~~instruments ~~there~~at ~~are~~fair ~~inputs~~value ~~other~~on ~~than~~a ~~quoted~~recurring ~~prices~~basis ~~that~~in ~~are observable for~~ the ~~asset~~balance orsheets ~~liability such~~ as ~~quoted~~of ~~prices~~March ~~for~~31, ~~similar~~2015 ~~assets~~and orDecember liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from31, ~~or corroborated by, observable market data.~~2013:

Level 3


	Fair Value Measurement at March 31, 2015
	Level 1		Level 2		Level 3
Liabilities	$	-	$	-	$	-

	Fair Value Measurement at December 31, 2014
	Level 1		Level 2		Level 3
Liabilities	$	-	$	-	$	-

~~Level~~There 3were ~~applies~~no totransfers of financial assets or liabilities ~~for~~between ~~which~~Level ~~there~~1 ~~are~~and ~~unobservable~~Level 2 inputs tofor the ~~valuation~~three ~~methodology~~months ~~that~~ended ~~are~~March ~~significant~~31, to2015 ~~the~~and ~~measurement of the fair value of the assets or liabilities.~~2014

~~The~~Recently ~~following~~Adopted ~~schedule~~Accounting ~~summarizes~~Pronouncements ~~the valuation of financial instruments at fair value on a recurring basis in the balance sheets as of September 30, 2014 and December 31, 2013:~~

	Fair Value Measurement at September 30, 2014
	Level 1		Level 2		Level 3
Liabilities	$	−	$	−	$	−
	Fair Value Measurement at December 31, 2013
	Level 1		Level 2		Level 3
Liabilities	$	−	$	−	$	−

The Company does not expect that the adoption of recent accounting pronouncements will have a material impact on its financial statements.

~~There were no transfers of financial assets or liabilities between Level 1 and Level 2 inputs for the nine months ended September 30, 2014 and 2013.~~12

13Item 4. Controls and Procedures

~~Recently~~Disclosure ~~Adopted~~Controls ~~Accounting~~and ~~Pronouncements~~Procedures

~~The~~We ~~Company~~maintain ~~does~~disclosure ~~not~~controls ~~expect~~and ~~that~~procedures, as defined in Rule 13a-15(e) promulgated under the ~~adoption~~Securities Exchange Act of ~~recent~~1934 ~~accounting~~(the ~~pronouncements~~"Exchange ~~will~~Act"), ~~have~~that aare ~~material~~designed ~~impact~~to onensure ~~its~~that ~~financial~~information ~~statements~~required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

~~ITEM~~We 4carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2015. ~~CONTROLS~~Based ~~AND~~on ~~PROCEDURES~~the evaluation of these disclosure controls and procedures, and in light of the material weaknesses found in our internal controls over financial reporting, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective.

~~Disclosure~~Management’s ~~Controls~~Report ~~and~~on ~~Procedures~~Internal Control Over Financial Reporting

WeManagement ~~maintain~~is ~~disclosure~~responsible ~~controls~~for establishing and ~~procedures~~maintaining adequate internal control over financial reporting, as defined in Exchange Act Rule 13a-15(ef). ~~promulgated~~The ~~under~~Company’s ~~the~~internal ~~Securities~~control ~~Exchange~~over ~~Act~~financial ofreporting ~~1934~~is ~~(the~~a ~~"Exchange~~process ~~Act"), that are~~ designed to ~~ensure~~provide ~~that~~reasonable ~~information~~assurance ~~required~~regarding ~~to be disclosed by us in~~ the ~~reports~~reliability ~~that~~of wefinancial ~~file~~reporting orand ~~submit under~~ the ~~Exchange~~preparation ~~Act~~of isfinancial ~~recorded,~~statements ~~processed,~~for ~~summarized~~external ~~and~~purposes ~~reported~~in ~~within~~accordance ~~the~~with ~~time~~accounting ~~periods~~principles ~~specified~~generally accepted in the ~~Securities~~United ~~and~~States ~~Exchange~~of Commission's rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosureAmerica.

WeBecause ~~carried~~of ~~out~~its aninherent ~~evaluation~~limitations, ~~under~~internal ~~the~~control ~~supervision~~over ~~and~~financial ~~with~~reporting ~~the~~may ~~participation~~not ofprevent ~~our~~or ~~management,~~detect ~~including~~misstatements. ~~our Chief Executive Officer and Chief Financial Officer~~Also, ofprojections ~~the effectiveness~~ of ~~the~~any ~~design~~evaluation ~~and operation~~ of ~~our~~effectiveness ~~disclosure~~to ~~controls~~future ~~and~~periods ~~procedures~~are assubject ofto ~~September 30, 2014. Based on~~ the ~~evaluation~~risk ofthat ~~these disclosure~~ controls ~~and~~may ~~procedures,~~become ~~and~~inadequate inbecause ~~light~~ of ~~the~~changes ~~material weaknesses found~~ in ~~our internal controls over financial reporting~~conditions, ~~our~~or ~~Chief~~that ~~Executive~~the ~~Officer~~degree ~~and~~of ~~Chief~~compliance ~~Financial~~with ~~Officer~~the ~~concluded~~policies ~~that~~or ~~our disclosure controls and~~ procedures ~~were~~may ~~not effective~~deteriorate.

~~Management~~Under the supervision and with the participation of management, including the Chief Executive Officer /Chief Financial Officer, the Company conducted an evaluation of the effectiveness of the Company’s ~~Report~~internal oncontrol over financial reporting as of March 31, 2015 using the criteria established in “Internal Control ~~Over~~- ~~Financial~~Integrated ~~Reporting~~Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO").

~~Management~~A material weakness is ~~responsible~~a ~~for~~deficiency, ~~establishing~~or ~~and~~combination ~~maintaining~~of ~~adequate~~deficiencies, in internal control over financial reporting, assuch ~~defined~~that inthere ~~Exchange~~is ~~Act~~a ~~Rule~~reasonable ~~13a-15(f).~~possibility ~~The~~that a material misstatement of the Company’s ~~internal~~annual ~~control~~or ~~over~~interim financial ~~reporting~~statements iswill anot ~~process~~be ~~designed~~prevented toor ~~provide~~detected ~~reasonable~~on ~~assurance~~a ~~regarding~~timely basis. In its assessment of the ~~reliability~~effectiveness of ~~financial~~internal ~~reporting~~control ~~and~~over ~~the~~financial ~~preparation~~reporting as of ~~financial~~March ~~statements~~31, ~~for~~2015, ~~external~~the ~~purposes~~Company indetermined ~~accordance~~that ~~with~~there ~~accounting~~were ~~principles~~control ~~generally~~deficiencies ~~accepted~~that inconstituted ~~the~~material ~~United~~weaknesses, ~~States~~as ofdescribed ~~America~~below.

~~Because~~1. ofWe ~~its~~do ~~inherent~~not ~~limitations~~have an Audit Committee – While not being legally obligated to have an audit committee, ~~internal~~it ~~control~~is ~~over~~the ~~financial~~management’s ~~reporting~~view ~~may~~that ~~not~~such ~~prevent~~a orcommittee, ~~detect~~including ~~misstatements.~~a ~~Also~~financial expert member, ~~projections~~is ofan ~~any~~utmost ~~evaluation~~important ofentity ~~effectiveness~~level tocontrol ~~future~~over ~~periods~~the ~~are~~Company’s ~~subject~~financial tostatement. Currently the ~~risk~~Board ~~that~~of ~~controls~~Directors ~~may~~acts ~~become~~in ~~inadequate~~the ~~because~~capacity of ~~changes~~the inAudit ~~conditions~~Committee, orand does not include a member that ~~the~~is ~~degree~~considered to be independent of ~~compliance~~management ~~with~~to provide the ~~policies~~necessary oroversight ~~procedures~~over ~~may~~management’s ~~deteriorate~~activities.

~~Under~~2. ~~the~~We ~~supervision~~did ~~and~~not ~~with~~maintain ~~the~~appropriate ~~participation~~cash controls – As of ~~management~~March 31, ~~including~~2015, the ~~Chief~~Company ~~Executive~~has ~~Officer~~not ~~/Chief~~maintained ~~Financial~~sufficient ~~Officer,~~internal ~~the~~controls ~~Company~~over ~~conducted~~financial anreporting ~~evaluation~~for of the ~~effectiveness~~cash ofprocess, ~~the~~including ~~Company’s~~failure ~~internal~~to ~~control~~segregate ~~over~~cash ~~financial~~handling ~~reporting~~and asaccounting offunctions, ~~September~~and ~~30,~~did ~~2014~~not ~~using~~require dual signature on the ~~criteria~~Company’s ~~established~~bank inaccounts. ~~“Internal~~Alternatively, ~~Control~~the -effects ~~Integrated~~of ~~Framework”~~poor ~~issued~~cash controls were mitigated by the ~~Committee~~fact ofthat ~~Sponsoring~~the ~~Organizations~~Company ofhad ~~the~~limited ~~Treadway~~transactions ~~Commission~~in ~~("COSO")~~their bank accounts.

A3. ~~material~~We ~~weakness~~did isnot aimplement ~~deficiency,~~appropriate orinformation ~~combination~~technology ofcontrols ~~deficiencies,~~– inAs ~~internal~~of ~~control~~March ~~over~~31, ~~financial reporting~~2015, ~~such~~the ~~that~~Company ~~there~~retains iscopies aof ~~reasonable~~all ~~possibility~~financial ~~that~~data aand material ~~misstatement~~agreements; ofhowever ~~the~~there ~~Company’s~~is ~~annual~~no orformal ~~interim~~procedure ~~financial~~or ~~statements~~evidence ~~will~~of ~~not~~normal bebackup ~~prevented~~of orthe ~~detected~~Company’s ondata aor ~~timely~~off-site ~~basis.~~storage ~~In its assessment~~ of the ~~effectiveness~~data ofin ~~internal~~the ~~control~~event ~~over financial reporting as~~ of ~~September 30~~theft, ~~2014~~misplacement, ~~the~~or ~~Company~~loss ~~determined~~due ~~that~~to ~~there~~unmitigated ~~were control deficiencies that constituted material weaknesses, as described below~~factors.

1Accordingly, the Company concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.

WeAs doa ~~not~~result ~~have~~of anthe ~~Audit~~material ~~Committee~~weaknesses –described ~~While not being legally obligated to have an audit committee~~above, ~~it is the~~ management’s ~~view~~has concluded that ~~such~~the aCompany ~~committee,~~did ~~including~~not amaintain ~~financial~~effective ~~expert~~internal ~~member, is an utmost important entity level~~ control over ~~the Company’s~~ financial ~~statement.~~reporting ~~Currently~~as ~~the Board~~ of ~~Directors~~March ~~acts in the capacity of the Audit Committee~~31, ~~and~~2015 ~~does~~based ~~not~~on ~~include~~criteria aestablished ~~member~~in ~~that~~Internal isControl—Integrated ~~considered~~Framework toissued beby ~~independent of management to provide the necessary oversight over management’s activities~~COSO.

2.13

WeChanges ~~did~~in ~~not~~Internal ~~maintain~~Control ~~appropriate cash controls – As of September 30, 2014, the Company has not maintained sufficient internal controls~~ over ~~financial~~Financial reporting for the cash process, including failure to segregate cash handling and accounting functions, and did not require dual signature on the Company’s bank accounts. Alternatively, the effects of poor cash controls were mitigated by the fact that the Company had limited transactions in their bank accounts.Reporting

3There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of March 31, 2015, that occurred during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

WeThis ~~did~~report does not ~~implement~~include ~~appropriate~~an ~~information~~attestation ~~technology~~report ~~controls – As~~ of ~~September 30, 2014,~~ the Company’s ~~retains~~registered ~~copies~~public ofaccounting ~~all~~firm ~~financial~~regarding ~~data~~internal ~~and~~control ~~material~~over ~~agreements;~~financial ~~however~~reporting. ~~there~~Managements isreport nowas ~~formal~~not ~~procedure~~subject orto ~~evidence~~attestation ofby ~~normal backup of~~ the Company’s ~~data~~registered orpublic ~~off-site~~accounting ~~storage~~firm pursuant to temporary rules of the ~~data~~SEC inthat permit the ~~event~~Company ofto ~~theft,~~provide ~~misplacement,~~only ormanagement’s ~~loss~~report ~~due~~in tothis ~~unmitigated factors~~report.

14PART II OTHER INFORMATION

~~Accordingly,~~Item ~~the~~1. ~~Company~~Legal concluded that these control deficiencies resulted in a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis by the company’s internal controls.Proceedings

AsWe aknow ~~result~~ of ~~the~~no material, ~~weaknesses~~existing ~~described~~or ~~above~~pending legal proceedings against our company, ~~management~~nor ~~has~~are ~~concluded~~we ~~that~~involved ~~the~~as ~~Company~~a ~~did~~plaintiff ~~not~~in ~~maintain~~any ~~effective~~material ~~internal~~proceeding ~~control~~or ~~over~~pending ~~financial~~litigation. ~~reporting~~There asare no proceedings in which any of ~~September~~our 30directors, ~~2014~~executive ~~based~~officers onor ~~criteria~~affiliates, ~~established~~or inany ~~Internal~~registered ~~Control—Integrated~~or ~~Framework~~beneficial ~~issued~~stockholder, byis ~~COSO~~an adverse party or has a material interest adverse to our interest.

~~Changes~~Item in2. ~~Internal~~Unregistered ~~Control~~Sales ~~over~~of ~~Financial~~Equity ~~Reporting~~Securities and Use of Proceeds

There has been no change in our internal control over financial reporting identified in connection with our evaluation we conducted of the effectiveness of our internal control over financial reporting as of September 30, 2014, that occurred during our fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reportingNone.

~~This~~Item ~~report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting~~3. ~~Managements~~Defaults ~~report~~Upon ~~was~~Senior ~~not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only management’s report in this report.~~Securities

~~PART II – OTHER INFORMATION~~None.

~~ITEM~~Item 14. ~~LEGAL~~Submission ~~PROCEEDINGS~~of Matters to a Vote of Securities Holders

~~We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation~~None. There are no proceedings in which any of our directors, executive officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest.

~~ITEM~~Item 1A5. ~~RISK~~Other ~~FACTORS~~Information

~~Risks~~On October ~~Related~~1, to2014, at ~~Our~~a special meeting of its shareholders, the Company ~~and~~appointed ~~Our~~Mr. ~~Industry~~Andrew Munro to act as its sole officer and director.

WeAndrew ~~are~~V. anMunro, ~~exploration~~age ~~stage~~47, ~~company~~sole director and sole officer. Mr. WeMunro ~~have~~spent nothe ~~history~~last of20 ~~production~~years ~~from~~working ~~which~~for weJeld-Wen, ~~earned~~the ~~revenue~~world's largest window and wedoor ~~have~~manufacturer. He ~~not~~started ~~proved~~as wean ~~can~~office ~~operate~~manager ~~successfully.~~and ~~From~~continued ~~our~~in ~~inception~~progressively onresponsible ~~November~~leadership ~~17,~~roles ~~2003~~until tobecoming ~~the~~General ~~nine~~Manager ~~months~~in ~~ended~~2000. As ona ~~September~~General 30Manager, ~~2014,~~he ~~the~~was ~~Company~~responsible ~~has~~for ~~not~~all ~~generated~~facets ~~any~~of ~~revenue~~the ~~and~~daily ~~has~~operation noof ~~revenue~~the ~~from~~business ~~operations~~and supervised over 40 individuals. Immediately ~~Rather~~prior to 2000, Mr. Munro was the ~~Company~~assistant ~~generated~~General aManager ~~net~~for ~~loss~~Jeld-Wen's ofoperations ~~($205~~in San Antonio,~~601)~~ ~~over~~Texas. Mr. ~~the~~Munro ~~period~~holds ~~from~~a ~~inception~~Diploma toin ~~the~~Business ~~nine~~Administration ~~months~~(Computer ~~ended~~Systems) onthat ~~September~~he ~~30,~~earned ~~2014~~in 1989 from the BC Institute of Technology.

ItItem ~~is highly unlikely we will ever achieve production~~6. Accordingly, it should be anticipated that the Company will not generate revenue and will continue to operate at a loss for the foreseeable future. In addition, the possibility that the Company will have ongoing mining operations of any kind is remote. The purchase of the securities offered hereby must therefore be regarded as the placing of funds at a high risk in a new or "start-up" venture with all the unforeseen costs, expenses, problems, and difficulties to which such ventures are subject. If we fail to generate revenue, your investment in our securities may be worthless.Exhibits

WE HAVE NO OPERATING HISTORY. WE MAY NOT BE SUCCESSFUL IN OUR EXPLORATION ACTIVITIES FOR GOLD. THE COMPANY MAY NOT BE SUCCESSFUL BECAUSE THE POSSIBILITY THAT THE COMPANY WILL FIND A COMMERCIALLY VIABLE MINERAL DEPOSIT OF ANY KIND IS REMOTE. OUR INABILITY TO DISCOVER ECONOMIC MINERALIZATION AND TO LOCATE ADDITIONAL EXPLORATION OPPORTUNITIES COULD HAVE A MATERIAL ADVERSE EFFECT ON OUR RESULTS OF OPERATIONS AND YOU COULD LOSE YOUR ENTIRE INVESTMENT.


Exhibit Number		Description

(3)		(i) Articles of Incorporation; (ii) Corporate Charter; and (iii)Bylaws
3.1		Articles of Incorporation**
3.2		Corporate Charter**
3.3		Bylaws **

(31)		Rule 13a-14(a)/15d-14(a) Certifications
31.1*		Section 302 Certification under Sarbanes-Oxley Act of 2002

(32)		Section 1350 Certifications
32.1*		Section 906 Certification under Sarbanes-Oxley Act of 2002

We* ~~may~~Filed ~~not be successful exploring for gold~~herewith. Our future performance and success is dependent upon finding a commercially viable mineral deposit. Exploration for minerals is an inherently risky business. The Company may not be successful because the possibility that the Company will find economic mineralization of any kind is remote. Our inability to discover a commercially viable mineral deposit, or to locate additional exploration opportunities, could have a material adverse effect on our results of operations, and you could lose your entire investment.

1514

WE** ~~ARE~~Previously ~~SOLELY~~filed ~~GOVERNED~~as BYan ~~MR.~~exhibit ~~ANDREW~~to ~~MUNRO,~~our ~~OUR~~Registration ~~SOLE~~Statement ~~OFFICER~~on ~~AND~~Form ~~DIRECTOR,~~SB-1 ~~AND,~~originally ASfiled ~~SUCH,~~with ~~THERE~~the ~~MAY~~SEC BEon ~~SIGNIFICANT~~February ~~RISK~~13, TO THE COMPANY FROM A CORPORATE GOVERNANCE PERSPECTIVE. OUR SOLE EXECUTIVE OFFICER AND DIRECTOR EXERCISES CONTROL OVER ALL MATTERS REQUIRING SHAREHOLDER APPROVAL INCLUDING THE ELECTION OF DIRECTORS AND THE APPROVAL OF SIGNIFICANT CORPORATE TRANSACTIONS. WE HAVE NOT VOLUNTARILY IMPLEMENTED VARIOUS CORPORATE GOVERNANCE MEASURES2007, INas ~~THE~~amended ~~ABSENCE~~March ~~OF WHICH~~7, ~~SHAREHOLDERS~~2007 ~~HAVE~~and ~~MORE~~declared ~~LIMITED~~effective ~~PROTECTIONS~~March ~~AGAINST~~14, ~~THE TRANSACTIONS IMPLEMENTED BY MR~~2007. ~~MUNRO.~~

Mr. Andrew Munro, our sole Executive Officer and Director makes decisions such as the approval of related party transactions, the compensation of Executive Officers, and the oversight of the accounting function. There will be no segregation of executive duties and there may not be effective disclosure and accounting controls to comply with applicable laws and regulations, which could result in fines, penalties and assessments against us. Accordingly, the inherent controls that arise from the segregation of executive duties may not prevail. SIGNATURES

~~Mr.~~Pursuant ~~Munro~~to ~~will exercise full control over all matters that typically require~~ the ~~approval~~requirements of aSection ~~Board~~13 ofor ~~Directors.~~15(d) ~~Mr.~~of ~~Munro’s actions are not subject to~~ the ~~review~~Securities ~~and~~Exchange ~~approval~~Act of a1934, ~~Board~~the ofregistrant ~~Directors~~has ~~and,~~duly ascaused ~~such,~~this ~~there~~report ~~may~~to be ~~significant~~signed ~~risk~~on toits ~~the~~behalf ~~Company~~by ~~from~~ the ~~corporate~~undersigned, ~~governance~~thereunto ~~perspective~~duly authorized.

~~Our~~MUNRO ~~sole~~DEVELOPMENTS ~~Executive Officer and Director exercises control over all matters requiring shareholder approval including the election of Directors and the approval of significant corporate transactions~~INC. We have not voluntarily implemented various corporate governance measures, in the absence of which, shareholders have more limited protections against the transactions implemented by Mr. Munro, conflicts of interest and other matters that conflict with shareholder interests.

WeBy: ~~have~~/s/ ~~not~~Andrew adopted corporate governance measures such as an audit or other independent committees as we presently only have one independent director. Shareholders should bear in mind our current lack of corporate governance measures in formulating their investment decisions.Munro

WE(Principal ~~ARE~~Executive ~~CONTROLLED BY MR. ANDREW MUNRO~~Officer, ~~OUR~~Principal ~~SOLE~~Financial ~~OFFICER~~Officer ~~AND~~and ~~DIRECTOR,~~Principal ~~AND,~~Accounting ASOfficer) ~~SUCH, THE COMPANY MAY LACK THE ABILITY TO SUCCESSFULLY IMPLEMENT ITS GROWTH PLANS.~~

~~Mr.~~May ~~Andrew Munro~~31, our sole Executive Officer and Director, has no career experience related to mining and mineral exploration. Accordingly, Mr. Munro may be unable to successfully operate and develop our business. We cannot guarantee that we will overcome this obstacle. There may be additional risk to the Company in that Mr. Munro may lack the ability to successfully implement growth plans given that the absence of an executive management team, and that all plans rely exclusively on the ability and management of Mr. Munro, our Executive Officer and Director.2015

BECAUSE MR. ANDREW MUNRO, OUR SOLE EXECUTIVE OFFICER AND DIRECTOR, HAS OTHER BUSINESS INTERESTS, HE MAY NOT BE ABLE OR WILLING TO DEVOTE A SUFFICIENT AMOUNT OF TIME TO OUR BUSINESS OPERATIONS, WHICH MAY CAUSE OUR BUSINESS TO FAIL.15

Mr. Munro, our sole Executive Officer and Director, has other business interests and devotes fewer than 20 hours per month on Company business. It is possible that the demands on Mr. Munro from other obligations could increase with the result that he will not be able to devote sufficient time to the management of our business. In addition, Mr. Munro may not possess sufficient time to manage our business if the demands of managing our business increased substantially.

THE IMPRECISION OF MINERAL DEPOSIT ESTIMATES MAY PROVE ANY RESOURCE CALCULATIONS THAT WE MAKE TO BE UNRELIABLE.

Mineral deposit estimates and related databases are expressions of judgment based on knowledge, mining experience, and analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. By their nature, mineral deposit estimates are imprecise and depend upon statistical inferences, which may ultimately prove unreliable. Mineral deposit estimates included here, if any, have not been adjusted in consideration of these risks and, therefore, no assurances can be given that any mineral deposit estimate will ultimately be reclassified as reserves. If the Company's exploration program locates a mineral deposit, there can be no assurances that any of such deposits will ever be classified as reserves.

THE PRICE OF GOLD IS VOLATILE AND PRICE CHANGES ARE BEYOND OUR CONTROL. WE ARE SENSITIVE TO FLUCTUATIONS IN THE PRICE OF GOLD. PRICE VOLATILITY AND DOWNWARD PRICE PRESSURE COULD CAUSE US TO CANCEL OUR EXPLORATION PLANS. IF THE PRICE OF GOLD IS TOO LOW, IT COULD BECOME TOO EXPENSIVE TO PURSUE OUR EXPLORATION PLANS.

The price of gold can fluctuate. The price of gold has been and will continue to be affected by numerous factors beyond the Company's control. Factors that affect the price of gold include the demand from consumers for products that use gold, economic conditions, over supply from secondary sources and costs of production. Price volatility and downward price pressure, which can lead to lower prices, could have a material adverse effect on the costs or the viability of our project and cause us to postpone or cancel our exploration plans altogether.

MINERAL EXPLORATION AND PROSPECTING IS HIGHLY COMPETITIVE AND SPECULATIVE BUSINESS AND WE MAY NOT BE SUCCESSFUL IN SEEKING AVAILABLE OPPORTUNITIES.

The process of mineral exploration and prospecting is a highly competitive and speculative business. In seeking available opportunities, the Company will compete with a number of other companies, including established, multi-national companies that have more experience and resources than the Company. We compete with other exploration companies looking for gold deposits. Because we may not have the financial and managerial resources to compete with other companies, we may not be successful in our efforts to acquire projects of value, which, ultimately, become productive. However, while we compete with other exploration companies, there is no competition for the exploration or removal of mineral from our claims.

COMPLIANCE WITH ENVIRONMENTAL CONSIDERATIONS AND PERMITTING COULD HAVE A MATERIAL ADVERSE EFFECT ON THE COSTS OR THE VIABILITY OF OUR PROJECTS. THE HISTORICAL TREND TOWARD STRICTER ENVIRONMENTAL REGULATION MAY CONTINUE, AND, AS SUCH, REPRESENTS AN UNKNOWN FACTOR IN OUR PLANNING PROCESSES.

Our exploration activities are subject to the extensive regulation of the Mining Act of British Columbia, which is administered by the Ministry of Energy and Mines of the Provincial Government of British Columbia. Compliance with such regulation has a material effect on the economics of our operations. Our primary regulatory costs have been related to obtaining licenses and permits from government agencies before the commencement of mining activities. An environmental impact study that must be obtained on each property in order to obtain governmental approval to mine on the properties is also a part of the overall operating costs of a mining company.

The possibility of more stringent regulations exists in the areas of worker health and safety, the dispositions of wastes, the decommissioning and reclamation of mining and milling sites and other environmental matters, each of which could have an adverse material effect on the costs or the viability of a particular project.

We have not yet applied to the Ministry of Energy and Mines of the Province of British Columbia for permits for the initial exploration work on the Eclipse Gold Property.

OUR EXPLORATION ACTIVITIES ARE SUBJECT TO EXTENSIVE REGULATION BY THE PROVINCIAL GOVERNMENT OF BRITISH COLUMBIA. FUTURE CHANGES IN GOVERNMENTS, REGULATIONS AND POLICIES, COULD ADVERSELY AFFECT THE COMPANY'S EXPLORATION ACTIVITIES, RESULTS OF OPERATIONS AND THE COMPANY’S LONG-TERM BUSINESS PROSPECTS.

Our exploration activities are subject to extensive regulation by the Ministry of Energy and Mines of the Provincial Government of British Columbia. We will be subject to the Mining Act of British Columbia as we carry out our planned exploration programs. The Mining Act of British Columbia relates to exploration, development, production, exports, taxes and royalties, labor standards, occupational health, waste disposal, protection and remediation of the environment, mine and mill reclamation, mine and mill safety, toxic substances and other matters. Compliance with such laws and regulations has increased the costs of exploring, drilling, developing, constructing, operating mines and other facilities. Accordingly, we may be required to obtain work permits, post bonds and perform remediation work for any physical disturbance to the land in order to comply with these regulations. There is a risk that new regulations could increase our costs of doing business and prevent us from carrying out our exploration program. Compliance with and future changes in governments, regulations and policies, could adversely affect the Company's results of operations in a particular period and its long-term business prospects.

Risks Related To Our Financial Condition and Business Model

THE COMPANY HAS NOT PAID ANY CASH DIVIDENDS ON ITS SHARES OF COMMON STOCK AND DOES NOT ANTICIPATE PAYING ANY SUCH DIVIDENDS IN THE FORESEEABLE FUTURE.

Payment of future dividends, if any, will depend on earnings and capital requirements of the Company, the Company’s debt facilities and other factors considered appropriate by the Company’s Board of Directors. To date, the Company has not paid any cash dividends on the Company’s Common Stock and does not anticipate paying any such dividends in the foreseeable future.

IF WE DO NOT OBTAIN ADDITIONAL FINANCING, OUR BUSINESS WILL FAIL.

We will need to obtain additional financing in order to complete our business plan. We currently do not have any operations and we have no income. We do not have any arrangements for financing and we may not be able to find such financing if required. Obtaining additional financing would be subject to a number of factors, including investor acceptance of mineral claims and investor sentiment. These factors may adversely affect the timing, amount, terms, or conditions of any financing that we may obtain or make any additional financing unavailable to us.

IF WE DO NOT CONDUCT MINERAL EXPLORATION ON OUR MINERAL CLAIMS AND KEEP THE CLAIMS IN GOOD STANDING, THEN OUR RIGHT TO THE MINERAL CLAIMS WILL LAPSE AND WE WILL LOSE EVERYTHING THAT WE HAVE INVESTED AND EXPENDED TOWARDS THESE CLAIMS.

We must complete mineral exploration work on our mineral claims and keep the claims in good standing. If we do not fulfill our work commitment requirements on our claims or keep the claims in good standing, then our right to the claims will lapse and we will lose all interest that we have in these mineral claims. We are obligated to pay $875 to pay to the British Columbia Provincial government on an annual to keep our claims valid.

BECAUSE OF OUR LIMITED RESOURCES AND THE SPECULATIVE NATURE OF OUR BUSINESS, THERE IS A SUBSTANTIAL DOUBT AS TO OUR ABILITY TO CONTINUE AS A GOING CONCERN.IF WE ARE NOT ABLE TO CONTINUE AS A GOING CONCERN, IT IS LIKELY INVESTORS WILL LOSE THEIR ENTIRE INVESTMENT.

There are a number of factors that raise substantial doubt about our ability to continue as a going concern. Our continued operations are dependent on our ability to obtain financing and upon our ability to discover a body of mineralization that is deemed to be economically viable. If we are not able to continue as a going concern, it is likely investors will lose their entire investment.

IF WE COMPLETE A FINANCING THROUGH THE SALE OF ADDITIONAL SHARES OF OUR COMMON STOCK IN THE FUTURE, THEN SHAREHOLDERS WILL EXPERIENCE DILUTION.

The most likely source of future financing presently available to us is through the sale of shares of our common stock. Any sale of common stock will result in dilution of equity ownership to existing shareholders. This means that if we sell shares of our common stock, more shares will be outstanding and each existing shareholder will own a smaller percentage of the shares then outstanding. To raise additional capital we may have to issue additional shares, which may substantially dilute the interests of existing shareholders. Alternatively, we may have to borrow large sums, and assume debt obligations that require us to make substantial interest and capital payments.

THERE IS NO MARKET FOR OUR COMMON STOCK, WHICH LIMITS OUR SHAREHOLDERS' ABILITY TO RESELL THEIR SHARES OR PLEDGE THEM AS COLLATERAL.

There is currently no public market for our shares, and we cannot assure you that a market for our stock will develop. Consequently, investors may not be able to use their shares for collateral or loans and may not be able to liquidate at a suitable price in the event of an emergency. In addition, investors may not be able to resell their shares at or above the price they paid for them or may not be able to sell their shares at all.

IF A PUBLIC MARKET FOR OUR STOCK IS DEVELOPED, FUTURE SALES OF SHARES COULD NEGATIVELY AFFECT THE MARKET PRICE OF OUR COMMON STOCK.

If a public market for our stock is developed, then sales of Common Stock in the public market could adversely affect the market price of our Common Stock. There are at present 5,000,000 shares of Common Stock issued and outstanding.

OUR STOCK IS A PENNY STOCK. TRADING OF OUR STOCK MAY BE RESTRICTED BY THE SEC'S PENNY STOCK REGULATIONS AND THE NASD’S SALES PRACTICE REQUIREMENTS, WHICH MAY LIMIT A STOCKHOLDER'S ABILITY TO BUY AND SELL OUR STOCK.

The Company’s common shares may be deemed to be “penny stock” as that term is defined in Regulation Section “240.3a51-1” of the Securities and Exchange Commission (the “SEC”). Penny stocks are stocks: (a) with a price of less than U.S. $5.00 per share; (b) that are not traded on a “recognized” national exchange; (c) whose prices are not quoted on the NASDAQ automated quotation system (NASDAQ - where listed stocks must still meet requirement (a) above); or (d) in issuers with net tangible assets of less than U.S. $2,000,000 (if the issuer has been in continuous operation for at least three years) or U.S. $5,000,000 (if in continuous operation for less than three years), or with average revenues of less than U.S. $6,000,000 for the last three years.

Section “15(g)” of the United States Securities Exchange Act of 1934, as amended, and Regulation Section “240.15g(c)2” of the SEC require broker dealers dealing in penny stocks to provide potential investors with a document disclosing the risks of penny stocks and to obtain a manually signed and dated written receipt of the document before effecting any transaction in a penny stock for the investor’s account. Potential investors in the Company’s common shares are urged to obtain and read such disclosure carefully before purchasing any common shares that are deemed to be “penny stock”.

Moreover, Regulation Section “240.15g-9” of the SEC requires broker dealers in penny stocks to approve the account of any investor for transactions in such stocks before selling any penny stock to that investor. This procedure requires the broker dealer to: (a) obtain from the investor information concerning his or her financial situation, investment experience and investment objectives; (b) reasonably determine, based on that information, that transactions in penny stocks are suitable for the investor and that the investor has sufficient knowledge and experience as to be reasonably capable of evaluating the risks of penny stock transactions; (c) provide the investor with a written statement setting forth the basis on which the broker dealer made the determination in (ii) above; and (d) receive a signed and dated copy of such statement from the investor confirming that it accurately reflects the investor’s financial situation, investment experience and investment objectives. Compliance with these requirements may make it more difficult for investors in the Company’s common shares to resell their common shares to third parties or to otherwise dispose of them. Stockholders should be aware that, according to Securities and Exchange Commission Release No. 34-29093, dated April 17, 1991, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. Such patterns include:

(i)

control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer

(ii)

manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases

(iii)

boiler room practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons

(iv)

excessive and undisclosed bid-ask differential and markups by selling broker-dealers

(v)

the wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a desired level, along with the resulting inevitable collapse of those prices and with consequent investor losses

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

None.

ITEM 5. OTHER INFORMATION

On October 1, 2014, at a special meeting of its shareholders, the Company appointed Mr. Andrew Munro to act as its sole officer and director.

Andrew V. Munro, age 47, sole director and sole officer. Mr. Munro spent the last 20 years working for Jeld-Wen, the world's largest window and door manufacturer. He started as an office manager and continued in progressively responsible leadership roles until becoming General Manager in 2000. As a General Manager, he was responsible for all facets of the daily operation of the business and supervised over 40 individuals. Immediately prior to 2000, Mr. Munro was the assistant General Manager for Jeld-Wen's operations in San Antonio, Texas. Mr. Munro holds a Diploma in Business Administration (Computer Systems) that he earned in 1989 from the BC Institute of Technology.

ITEM 6. EXHIBITS

Exhibit Number		Description
(3)		(i) Articles of Incorporation; (ii) Corporate Charter; and (iii)Bylaws
3.1		Articles of Incorporation**
3.2		Corporate Charter**
3.3		Bylaws **
(31)		Rule 13a-14(a)/15d-14(a) Certifications
31.1*		Section 302 Certification under Sarbanes-Oxley Act of 2002
(32)		Section 1350 Certifications
32.1*		Section 906 Certification under Sarbanes-Oxley Act of 2002

* Filed herewith.

** Previously filed as an exhibit to our Registration Statement on Form SB-1 originally filed with the SEC on February 13, 2007, as amended March 7, 2007 and declared effective March 14, 2007.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

MUNRO DEVELOPMENTS INC.

By: /s/ Andrew Munro

(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

December 18, 2014

Filing Compare · Munro Developments, Inc.