UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

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

For the quarterly period ended: March 31, 2016

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

Commission file number 000-1572317

KORE RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

123 W. Nye Lane, Suite 129

Carson City, NV 89706

(Address of principal executive offices, including zip code)

(800) 208-1902

(Registrant’s telephone number, including area code)

1101 Brickell Ave.

South Tower 8^th Floor

Miami, FL 33131

(Former name, former address and former fiscal year, if changed since last report)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.

Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [ ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ]	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 [ ]

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 112,750,000 shares of common stock as of May 20, 2016.

Table of Contents

PART I – FINANCIAL INFORMATION	3
Item 1. Financial Statements.	3
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.	9
Forward Looking Statements	9
Plan of Operations	9
Results of Operations	10
Liquidity and Capital Resources	11
Off Balance Sheet Arrangements	13
Going Concern	13
Recent Accounting Pronouncements	13
Item 3. Quantitative and Qualitative Disclosures About Market Risk.	13
Item 4. Controls and Procedures.	14
Evaluation of Disclosure Controls and Procedures	14
Changes in Internal Control over Financial Reporting	14

PART II – OTHER INFORMATION	14
Item 1. Legal Proceedings.	14
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	14
Item 3. Defaults Upon Senior Securities.	14
Item 4. Mine Safety Disclosures.	14
Item 5. Other Information.	14
Change in Control	14
Subsequent Events	15
Item 6. Exhibits.	15

SIGNATURES	16

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

KORE RESOURCES. INC.

BALANCE SHEETS

(UNAUDITED)

	March 31, 2016			June 30, 2015

ASSETS

CURRENT ASSETS
Cash	$	25,032		$	-
Prepaid expenses		-			3,390

TOTAL CURRENT ASSETS		25,032			3,390

TOTAL ASSETS	$	25,032		$	3,390

LIABILITIES AND STOCKHOLDERS’ DEFICIT

CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	38,118		$	17,400
Accounts payable to related party		37,980			27,780
Note payable		100,000			15,000

TOTAL CURRENT LIABILITIES		176,098			60,180

COMMITMENTS AND CONTINGENCIES		-			-

STOCKHOLDERS’ DEFICIT

Common stock, $0.00001 par value, 150,000,000 shares authorized, 112,750,000 and 112,750,000 shares issued and outstanding		11,275			11,275
Additional paid in capital		247,776			247,776
Subscription receivable		(36,807	)		(36,807	)
Accumulated deficit		(373,310	)		(279,034	)
TOTAL STOCKHOLDERS’S DEFICIT		(151,066	)		(56,790	)

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	25,032		$	3,390

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

KORE RESOURCES, INC.

STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the Three Months			For the Three Months			For the Nine Months			For the Nine Months
	Ended			Ended			Ended			Ended
	March 31, 2016			March 31, 2015			March 31, 2016			March 31, 2015

Revenue
Service Revenue, net	$	-		$	-		$	-		$	-

OPERATING EXPENSES
Consulting		10,500			-			42,000			-
General and administrative		8,249			31,138			61,029			68,701
Gain on settlement of accounts payable		(12,500	)		-			(12,500	)		-
Total Operating Expenses		6,249			31,138			90,529			68,701

Other Expense
Interest Expense		1,758			-			3,747			-
		1,758			-			3,747			-

NET LOSS FROM OPERATIONS		(8,007	)		(31,138	)		(94,276	)		(68,701	)
NET LOSS FROM DISCONTINUED OPERATIONS		-			(12,728	)		-			(173,574	)
		(8,007	)		(43,866	)		(94,276	)		(242,275	)

NET LOSS BEFORE PROVISION FOR TAX		(8,007	)		(43,866	)		(94,276	)		(242,275	)

Provision for Income Taxes		-			-			-			-

NET LOSS	$	(8,007	)	$	(43,866	)	$	(94,276	)	$	(242,275	)

Net loss per share - basic and diluted
Continuing operations	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Discontinued operations	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Net loss per common share		(0.00	)		(0.00	)		(0.00	)		(0.00	)

Weighted average number of shares outstanding during the period - basic and diluted		112,750,000			112,750,000			112,750,000			112,750,000

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

KORE RESOURCES, INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Nine Months			For the Nine Months
	Ended			Ended
	March 31, 2016			March 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(94,276	)	$	(242,275	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		-			3,068
Gain in settlement of accounts payable		(12,500	)		-
Changes in operating assets and liabilities:
Prepaid expenses		3,390			2,192
Deposits		-			3,900
Accounts payable and accrued expense		33,218			28,018
Accounts payable related party		10,200			24,280
Due to related party		-			(54,997	)
Net Cash Used In Operating Activities		(59,968	)		(235,814	)

CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for purchase of fixed assets		-			(1,828	)
Net Cash Used In Investing Activities		-			(1,828	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from note payable		85,000			15,000
Proceeds from sale of common stock		-			205,000
Net Cash Provided By Financing Activities		85,000			220,000

NET INCREASE / (DECREASE) IN CASH		25,032			(17,642	)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		-			19,784

CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	25,032		$	2,142

Supplemental disclosure of non cash investing & financing activities:
Cash paid for income taxes	$	-		$	-
Cash paid for interest expense	$	-		$	-

Non Cash Transactions:
Common stock issued in reverse merger	$	-		$	12,500
Shares issued for stock subscription receivable	$	-		$	150,000

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

KORE RESOURCES, INC.

NOTES TO UNAUDITED FINANCIAL STATEMENTS

NOTE 1 – BASIS OF PRESENTATION

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information necessary for a comprehensive presentation of financial position and results of operations. The interim results for the period ended March 31, 2016 are not necessarily indicative of results for the full fiscal year. It is management’s opinion, however that all material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statements presentation. These financial statements and notes should be read in conjunction with the financial statements and notes for the year ended June 30, 2015 included in the Company’s Annual Report on Form 10-K. Certain prior period amounts have been reclassified to conform to current period presentation.

NOTE 2 – GOING CONCERN

The Company has sustained operating losses and cash used in operating activities since inception, and as of March 31, 2016, the Company has a working capital deficit of $151,066 These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

Management is working to begin principal revenue generating operations; however, it may not be able to do so within the next fiscal year. Management is also seeking to raise additional working capital through various financing sources, including the sale of the Company’s equity securities, which may not be available on commercially reasonable terms, if at all. If such financing is not available on satisfactory terms, we may be unable to continue our exploration stage business as desired and operating results will be adversely affected. In addition, any financing arrangement may have potentially adverse effects on us or our stockholders.

Debt financing (if available and undertaken) will increase expenses, must be repaid regardless of operating results and may involve restrictions limiting our operating flexibility. If we issue equity securities to raise additional funds, the percentage ownership of our existing stockholders will be reduced and the new equity securities may have rights, preferences or privileges senior to those of the holders of our common stock.

NOTE 3 – DISPOSAL OF WEEDWEB

Effective April 29, 2015, the Company entered into a Confidential Settlement and Mutual Release Agreement (the “Settlement Agreement”) with WeedWeb Inc, a privately held Delaware corporation (“WeedWeb”) and Weedweb’s controlling stockholder Mary Kay Tantum (“Tantum”). Pursuant to this agreement, we are to unwind the share exchange transactions which were made in connection with a share exchange agreement dated June 30, 2014, among the same parties. The decision to unwind and rescind the transaction was in large part as a result of lack or performance and lack of consideration required pursuant to the terms of the share exchange agreement. As a result, the parties mutually concluded that rescinding the transaction was warranted in the circumstances. 15,000,000 common shares of the Company were returned and cancelled in return for the disposal of WeedWeb.

The following table summarizes the loss from discontinued operations:

Income and Expenses of Discontinued Operations

	Three Months		Three Months
	Ended		Ended
	March 31, 2016		March 31, 2015

General and administrative expenses	$	—	$	12,728

Loss from discontinued operations	$	—	$	(12,728	)

	Nine Months		Nine Months
	Ended		Ended
	March 31, 2016		March 31, 2015

General and administrative expenses	$	—	$	173,574

Loss from discontinued operations	$	—	$	(173,574	)

As of the date of disposal, the assets and liabilities of WeedWeb consisted of the following:

Cash	$	2,142
Property and equipment, net		3,185
Intangible assets		14,208
Accounts payable to related party		(3,486	)
Net assets disposed	$	16,049

NOTE 4 – RELATED PARTY TRANSACTIONS

As of March 31, 2016 and June 30, 2015, our President and CEO was owed $37,980 and $27,780, respectively, for consulting services provided to the Company. On April 6, 2016, Matthew E. Killeen resigned from the Board and as the Company’s President, Chief Executive Officer, Secretary and Treasurer, effective immediately. Mr. Killen had been serving as the President, Chief Executive Officer, Secretary and Treasurer of the Company since June 18, 2014. The Company agreed to pay Mr. Killeen $16,365 in settlement of all amounts owed to him.

On April 6, 2016, the board of directors of the Company increased the size of the Board to two persons and appointed Mr. Greyling to fill the created vacancy. Directors serve for a period of one year until the next stockholders’ meeting and until their respective successors are elected and qualify.

NOTE 5 – NOTES PAYABLE

On November 14, 2014, the Company entered into a promissory note in the amount of $15,000. The note is unsecured, due on May 14, 2015 and is non interesting bearing. As of March 31, 2016, the note was past due and due on demand and the outstanding principal balance was $15,000.

On September 1, 2015, the Company issued a promissory note in the principal amount of $15,000, bearing interest at the rate of 8% per annum and maturing on the first anniversary of the date of issuance. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2016, the outstanding principal balance was $15,000.

On November 10, 2015, the Company issued a promissory note in the principal amount of $15,000, bearing interest at the rate of 8% per annum and maturing on the first anniversary of the date of issuance. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2016, the outstanding principal balance was $15,000.

On March 2, 2016, the Company entered into a promissory note in the amount of $30,000. The note is unsecured, due on March 2, 2017 and bears interest at a rate of 8% per annum. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2016, the outstanding principal balance was $30,000.

On March 30, 2016 the Company received $25,000. On April 6, 2016, the Company formalized the loan and entered into a promissory note in the amount of $25,000. The note is unsecured, due on April 6, 2017 and bears interest at a rate of 8% per annum. As of March 31, 2016, the outstanding principal balance was $25,000.

NOTE 6 – GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE

During the three months end March 31, 2016 a professional forgave fees of $12,500.

NOTE 7 – SUBSEQUENT EVENTS

On May 20, 2016, the Company entered into a promissory note in the amount of $10,000. The note is unsecured, due on May 20, 2017 and bears interest at a rate of 8% per annum.

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

Forward Looking Statements

This section of this report includes a number of forward- looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Plan of Operations

We are a “blank check” company currently in the process of seeking to acquire a target company or business seeking the perceived advantages of being a publicly held corporation. Our principal business objective for the next twelve (12) months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. We will not restrict our potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

We do not currently engage in any business activities that provide cash flow and the Company does not intend to engage in any types of business activities that may provide cash flow for investigating and analyzing business combinations.

During the next twelve (12) months we anticipate incurring costs related to:

	(i)	filing of Exchange Act reports, and

	(ii)	consummating an acquisition.

At this time, we are solely reliant on funding for cash flow and as such, have enough subscription receivable to maintain current operations until the end of the second quarter of fiscal year 2016, at which point in time the Company would need to obtain new funding agreements.

We are in the development stage and have negative working capital, negative stockholders’ equity and have not earned any revenues from operations to date. These conditions raise substantial doubt about our ability to continue as a going concern. The Company has not commenced our efforts to locate a merger candidate and will not do so until it clears all comments with the SEC and FINRA. Our ability to continue as a going concern is dependent upon our ability to develop additional sources of capital, locate and complete a merger with another company, and ultimately, achieve profitable operations.

We may consider a business which has recently commenced operations, is a developing company in need of additional funds for expansion into new products or markets, is seeking to develop a new product or service, or is an established business which may be experiencing financial or operating difficulties and is in need of additional capital. In the alternative, a business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding, among other things, the time delays, significant expense, and loss of voting control which may occur in a public offering.

Our sole officer and director has not had any preliminary contact or discussions with any representative of any other entity regarding a business combination with us. Any target business that is selected may be a financially unstable company or an entity in its early stages of development or growth, including entities without established records of sales or earnings. In that event, we will be subject to numerous risks inherent in the business and operations of financially unstable and early stage or potential emerging growth companies. In addition, we may effect a business combination with an entity in an industry characterized by a high level of risk, and, although our management will endeavor to evaluate the risks inherent in a particular target business, there can be no assurance that we will properly ascertain or assess all significant risks.

We anticipate that the selection of a business combination will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries and shortages of available capital, our management believes that there are numerous firms seeking companies with no capital and/or the perceived benefits of becoming a publicly traded corporation. Such perceived benefits of becoming a publicly traded corporation include, among other things, facilitating or improving the terms on which additional equity financing may be obtained, providing liquidity for the principals of and investors in a business, creating a means for providing incentive stock options or similar benefits to key employees, and offering greater flexibility in structuring acquisitions, joint ventures and the like through the issuance of stock. Potentially available business combinations may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.

Results of Operations

Three Months Ended March 31, 2016 compared to March 31, 2015

Revenues

We did not have any revenues for the three months ended March 31, 2016 and 2015, respectively.

Consulting Expenses

We recognized consulting expenses in the amount of $10,500 and $nil for the three months ended March 31, 2016 and 2015, respectively. The increase was a result of amounts owed to our executive officer for services provided to the Company.

General and Administrative Expenses

We recognized general and administrative expenses in the amount of $8,249 and $31,138 for the three months ended March 31, 2016 and 2015, respectively. The decrease is a result of reduced professional fees.

Gain on Settlement of Accounts Payable

During the three months end March 31, 2016 a professional forgave fees of $12,500.

Net Loss

We incurred a net loss of $8,007 for the three months ended March 31, 2016, as compared to $43,866 for the comparable period of 2015. The decrease in the net loss was primarily the result of the operations of WeedWeb, mainly employee cost in 2015.

Nine Months Ended March 31, 2016 compared to the Nine Months Ended March 31, 2015

Revenues

We did not have any revenues for the nine months ended March 31, 2016 and 2015, respectively.

Consulting Expenses

We recognized consulting expenses in the amount of $42,000 and $nil for the nine months ended March 31, 2016 and 2015, respectively. The increase was a result of amounts owed to our executive officer for services provided to the Company.

General and Administrative Expenses

We recognized general and administrative expenses in the amount of $61,029 and $68,701 for the nine months ended March 31, 2016 and 2015, respectively. The decrease for the nine months ended was due to reduced professional fees.

Gain on Settlement of Accounts Payable

During the three months end March 31, 2016 a professional forgave fees of $12,500.

Net Loss

We incurred a net loss of $94,276 for the nine months ended March 31, 2016, as compared to $242,275 for the comparable period of 2015. The decrease in the net loss was primarily the result of the operations of WeedWeb, being discontinued.

Liquidity and Capital Resources

As of March 31, 2016, we had $25,032 of cash on hand. We intend to rely upon the remaining balance of our subscription receivable, to fund administrative expenses pending acquisition of an operating company.

The Company has sustained operating losses and cash used in operating activities since inception, and as of March 31, 2016, the Company has a working capital deficit of $151,066. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its shareholders or other sources, as may be required.

On September 1, 2014, we entered into a Funding Agreement with Craigstone Ltd. (“Craigstone”), pursuant to which Craigstone agreed to purchase an aggregate of 2,500,000 shares of our common stock for $0.10 per share, for a total purchase price of $250,000, and a warrant to acquire 500,000 shares of our common stock for $0.20 per share. To date, the Company has received an aggregate of $213,193 under this agreement with Craigstone, of which $45,000 was provided in 2014 in the form of an advance payable on demand and recorded a stock subscription receivable of $36,807.

On September 8, 2014, we entered into a Funding Agreement with Gotama Capital, S.A. (“Gotama”) pursuant to which Gotama purchased an aggregate of 250,000 shares of our common stock for $0.10 per share, for a total purchase price of $25,000.

On November 14, 2014, the Company entered into a promissory note in the amount of $15,000. The note is unsecured, due on May 14, 2015 and is non interesting bearing. As of March 31, 2016, the note was past due and is due on demand and the outstanding principal balance was $15,000.

On September 1, 2015, the Company issued a promissory note to Craigstone in the principal amount of $15,000, bearing interest at the rate of 8% per annum and maturing on the first anniversary of the date of issuance. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2016, the outstanding principal balance was $15,000.

On November 10, 2015, the Company issued a promissory note to Craigstone in the principal amount of $15,000, bearing interest at the rate of 8% per annum and maturing on the first anniversary of the date of issuance. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2016, the outstanding principal balance was $15,000.

On March 2, 2016, the Company issued a promissory note to Craigstone in the amount of $30,000. The note is unsecured, due on March 2, 2017 and bears interest at a rate of 8% per annum. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2016, the outstanding principal balance was $30,000.

On March 30, 2016, the Company received $25,000 from Craigstone. On April 6, 2016, the Company formalized the loan and issued a promissory note to Craigstone in the amount of $25,000. The note is unsecured, due on April 6, 2017 and bears interest at a rate of 8% per annum. As of March 31, 2016, the outstanding principal balance was $25,000.

We will require additional capital to finance the growth of the Company’s current and expected future operations, as well as to achieve its strategic objectives. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for us to continue as a going concern.

Management anticipates seeking out a target company through solicitation. Such solicitation may include newspaper or magazine advertisements, mailings and other distributions to law firms, accounting firms, investment bankers, financial advisors and similar persons, the use of one or more internet sites and similar methods. No estimate can be made as to the number of persons who will be contacted or solicited. Management may engage in such solicitation directly or may employ one or more other entities to conduct or assist in such solicitation. Management and its affiliates will pay referral fees to consultants and others who refer target businesses for mergers into public companies in which management and its affiliates have an interest. Payments are made if a business combination occurs, and may consist of cash or a portion of the stock in the Company retained by management and its affiliates, or both.

The Company may enter into agreements with other consultants to assist in locating a target company and may share stock received by it or cash resulting from the sale of its securities with such other consultants.

	For the Nine Months Ended March 31,
	2016			2015
Net cash used in operating activities	$	(56,968	)	$	(235,814	)
Net cash used in investing activities	$	-		$	(1,828	)
Net cash provided by financing activities	$	85,000		$	220,000

Net cash used in operations was $56,968 for the nine months ended March 31, 2016 compared to $235,814 for the nine months ended March 31, 2015. This decrease was primarily attributable to operations of WeedWeb.

Net cash used in investing activities was $0 and $1,828 for the nine months ended March 31, 2016 and 2015, respectively. This decrease was primarily attributable to the no purchase of fixed assets.

New cash flows provided by financing activities for the nine months ended March 31, 2016 were $85,000, compared to $220,000 for the nine months ended March 31, 2015. This decrease was primarily attributable to the sale of common stock, from our two funding agreements in 2014.

Off Balance Sheet Arrangements

We have no off balance sheet arrangements.

Going Concern

We anticipate that additional funding will be required in the form of equity financing from the sale of our common stock. At this time, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock or through loans from our directors to meet our obligations over the next twelve months. We do not have any arrangements in place for any future debt or equity financing.

Recent Accounting Pronouncements

Recent accounting pronouncements issued by FASB (including the Emerging Issues Task Force), the AICPA and the SEC, did not or are not believed by the Company management, to have a material impact on the Company’s present or future financial statements.

In June 2014, the FASB issued ASU 2014-10, “Development Stage Entities”. The amendments in this update remove the definition of a development stage entity from the Master Glossary of the ASC thereby removing the financial reporting distinction between development stage entities and other reporting entities from U.S. GAAP. In addition, the amendments eliminate the requirements for development stage entities to (1) present inception-to-date information in the statements of income, cash flows, and shareholder equity, (2) label the financial statements as those of a development stage entity, (3) disclose a description of the development stage activities in which the entity is engaged, and (4) disclose in the first year in which the entity is no longer a development stage entity that in prior years it had been in the development stage. The amendments in this update are applied retrospectively. The Company elected early adoption of ASU 2014-10. The adoption of ASU 2014-10 removed the development stage entity financial reporting requirements from the Company. The company elected early adoption of ASU 2014-10.

No other accounting pronouncements issued by FASB (including the Emerging Issues Task Force), the AICPA and the SEC, did not or are not believed by the Company management, to have a material impact on the Company’s present or future financial statements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including the Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were not effective as of March 31, 2016.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the three-month period ended March 31, 2016 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

There are no pending legal proceedings to which we are a party or of which any of our properties is the subject. Also, our management is not aware of any legal proceedings contemplated by any governmental authority against us.

Item 1A. Risk Factors.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

Change in Control

As previously reported on a Form 8-K filed on April 8, 2016, on March 30, 2016, Mr. Barend “Chris” Greyling purchased an aggregate of 60,000,000 shares (the “Shares”) of common stock, par value $0.001 per share (the “Common Stock”), of the Company from Level Up Investments, LLC, a Michigan limited liability company (“Level Up”), pursuant to a stock purchase agreement, dated March 28, 2016 (the “Stock Purchase Agreement”), for $0.00025 per Share, or a total purchase price of $15,000. The Shares represented approximately 53.2% of the 112,750,000 outstanding shares of Common Stock of the Company, and the transaction constituted a change in control of the Company. The Company was not a party to the Stock Purchase Agreement. Greyling borrowed the funds from a third party lender for the transaction.

Subsequent Events

As previously reported on a Form 8-K filed on April 8, 2016, on April 6, 2016, the board of directors (the “Board”) of the Company increased the size of the Board to two persons and appointed Mr. Greyling to fill the created vacancy. Directors serve for a period of one year until the next stockholders’ meeting and until their respective successors are elected and qualify.

On April 6, 2016, Matthew E. Killeen resigned from the Board and as the Company’s President, Chief Executive Officer, Secretary and Treasurer, effective immediately. Mr. Killen had been serving as the President, Chief Executive Officer, Secretary and Treasurer of the Company since June 18, 2014. His departure was not related to any issues regarding financial disclosures or accounting or legal matters. After Mr. Killeen’s resignation, the Board reduced the size of the Board to one person.

Immediately upon Mr. Killeen’s resignation, the Board appointed Mr. Greyling as the President, Chief Executive Officer, Secretary and Treasurer of the Company, effective immediately.

Mr. Greyling, 59 years old, has been serving as Chief Executive Officer of Nativ Communication, a Digital Start-Up, since 2014. Mr. Greyling has held management and director positions at CBL Telecom (2009 to 2013), RS Software (2008 to 2009) and Supported Software, SA (1995 to 2005, exited successfully to Datacentrix JSE Listed). He was also the Founder of EDMS, SA (1993 to 1995), which managed the development of an EDI commerce platform enabling the online settlement of medical claims between medical practices and medical insurance companies, and negotiated the exit of the company to Q Data (JSE listed). In addition to Mr. Greyling’s extensive managerial and business acumen, he is involved in new technology developments around the Internet of Things (IoT), connecting business and services within smart cities of the future.

The Company has not entered into any transactions with Mr. Greyling that would require disclosure pursuant to Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.

On May 20, 2016, the Company entered into a promissory note in the amount of $10,000. The note is unsecured, due on May 20, 2017 and bears interest at a rate of 8% per annum.

Item 6. Exhibits.

The following documents are included herein:

Exhibit No.		Document Description

31.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant Section 302 of the Sarbanes-Oxley Act of 2002

32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized

	KORE RESOURCES, INC.

Date: May 23, 2016	By:	/s/ Barend C. Greyling
	Name:	Barend C. Greyling
	Title:	President, Chief Executive Officer, Secretary and
		Treasurer (Principal Executive Officer)
		(Principal Financial and Accounting Officer)

Kore Resources Inc. 10-Q