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Note 1. Basis of Presentation
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9 Months Ended |
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Dec. 31, 2011
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| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
1.
BASIS
OF PRESENTATION.
The
accompanying unaudited consolidated financial statements as
of December 31, 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 nine-month period ended December 31, 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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