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10-K - DEGARO INNOVATIONS CORP FORM 10-K FOR 2012 - Blue Water Petroleum Corp.degaro-form10k2012.htm
EXCEL - IDEA: XBRL DOCUMENT - Blue Water Petroleum Corp.Financial_Report.xls
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EX-32 - SOX SECTION 906 CERTIFICATION OF THE CEO - Blue Water Petroleum Corp.degaro-section906certificati.htm
EX-31 - SOX SECTION 302(A) CERTIFICATION OF THE CEO - Blue Water Petroleum Corp.degaro-section302certificati.htm
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1. Nature of Business and Continuance of Operations
12 Months Ended
Jul. 31, 2012
Nature of Operations [Text Block]

1.        Nature of Business and Continuance of Operations


Degaro Innovations, Corp. (the “Company”) was incorporated in the State of Nevada on December 8, 2009.  The Company’s principal business is to initiate, market, and distribute residential solar panel systems to the Jamaican and Caribbean market. On July 26, 2010, the Company incorporated Degaro Limited, a wholly-owned subsidiary in Jamaica.


These consolidated financial statements have been prepared on a going concern basis, which assumes the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. At July 31, 2012, the Company has incurred losses totaling $112,434 since inception, and has not yet generated any revenue from operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.