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Note 1. Basis of Presentation
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3 Months Ended | ||
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Jun. 30, 2011
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| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
The
accompanying unaudited consolidated financial statements
as of June 30, 2011 included herein have been prepared
without an audit pursuant to the rules and regulations of
the Securities and Exchange
Commission. Certain information and footnote
disclosures normally included in financial statements
prepared in accordance with United States generally
accepted accounting principles have been condensed or
omitted pursuant to such rules and
regulations. In the opinion of the management
of Blackwater Midstream Corp. (the "Company", "us",
"our", or "we"), all adjustments (consisting of normal
recurring accruals) considered necessary for a fair
presentation have been included. These
financial statements should be read in conjunction with
the March 31, 2011 audited financial statements and notes
thereto. The balance sheet at March 31, 2011
has been derived from the audited financial statements at
that date, but does not include all of the information
and footnotes required by accepted accounting principles
for complete financial statements. Certain
items in 2010 have been reclassified to conform to the
2011 financial statement presentation generally accepted
in the United States of America. For further
information, refer to the consolidated financial
statements and footnotes thereto included in the
Company’s Annual Report on Form 10-K for the year
ended March 31, 2011. The results of
operations for the three-month period ended June 30, 2011
are not necessarily indicative of the results that may be
expected for the year.
RECLASSIFICATIONS
We
have reclassified certain prior-year amounts to conform
to the current year’s presentation.
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