UNITED STATES 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 June 30, 2009

or

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the transition period from            to            

Commission File number: 333-148664

ECOLOGIX RESOURCE GROUP INC.
 (Exact name of small business issuer as specified in its charter)

Delaware
(State or other jurisdiction of Incorporation or organization)

98-0533882
(IRS Employee Identification No.)

9903 Santa Monica Blvd.
Suite 918
Beverly Hills, CA. 90212 
Phone number: 888-LOGIXRG
 (Address of principal executive offices)

(Former name, former address and former fiscal year, if changed since last report)
20 a Sharei Torah Sreet
Jerusalem Israel

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 o No o

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 (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).   Yes o No o

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 definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
 
Large accelerated filer
o  
 Accelerated Filer
o  
Non-accelerated filer
o  
 Smaller reporting company
x  
(Do not check if a smaller reporting company)
     

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:
 
Class
 
Shares outstanding
 
Date
Common, $.0001 par value
   
50,000,000
 
August 12  2009


ECOLOGIX RESOURCE GROUP INC.
Form 10-Q

Index

   
Page
Part I – FINANCIAL INFORMATION
   
     
Item 1.  Financial Statements (Unaudited)
 
F-1
     
Condensed Balance Sheet
 
F-2
     
Condensed Statements of Operations
 
F-3
     
Condensed Statements of Cash Flows
 
F-5
     
Notes on Condensed Financial Information
 
F-6
     
Item 2 Management’s Discussion and Analysis or Plan of Operation
 
3
     
Item 3 Control and Procedures
 
7
     
Part II. OTHER INFORMATION
   
     
Item 1.  Legal Proceedings
 
7
     
Item 2.  Changes in Securities
 
7
     
Item 3.  Defaults Upon Senior Securities
 
7
     
Item 4.  Submission Of Matters To A Vote of Security Holders
 
7
     
Item 5.  Other Information
 
8
     
Item 6.  Exhibits and Reports on Form 8 -K
 
8
     
Signatures
 
9
     
Certifications
 
 
Part I: Financial Information

Item 1.  Financial Statements

ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
 
INDEX TO FINANCIAL STATEMENTS
JUNE 30, 2009
 
Financial Statements-
   
     
Balance Sheets as of June 30, 2009 and December 31, 2008
 
F-2
     
Statements of Operations for the Three Months and Six Months Ended
   
June 30, 2009 and 2008, and Cumulative from Inception
 
F-3
     
Statement of Changes in Stockholders’ Equity for the Period from Inception
   
Through June 30, 2009
 
F-4
     
Statements of Cash Flows for the Six Months Ended June 30, 2009 and 2008,
   
and Cumulative from Inception
 
F-5
     
Notes to Financial Statements
 
F-6

 
 ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
AS OF JUNE 30, 2009 AND DECEMBER 31, 2008

ASSETS
           
   
As of
   
As of
 
   
June 30,
   
December 31,
 
   
2009
   
2008
 
   
(Unaudited)
   
(Audited)
 
Current Assets:
           
Cash
  $ 755,558     $ 1,381  
                 
   Total current assets
    755,558       1,381  
                 
Other Assets:
               
Patent, net of amortization of $912 and $456, respectively
    14,588       15,044  
                 
   Total other assets
    14,588       15,044  
                 
Total Assets
  $ 770,146     $ 16,425  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
                 
Current Liabilities:
               
Accounts payable and accrued liabilities
  $ 132,446     $ 8,548  
Note payable
    824,500          
Loans payable
    29,760       -  
Loans from related parties - Directors and stockholders  
    35,463       40,463  
                 
   Total current liabilities
    1,022,169       49,011  
                 
   Total liabilities
    1,022,169       49,011  
                 
Commitments and Contingencies
               
                 
Stockholders' (Deficit)
               
Preferred stock, par value $.0001 per share, 50,000,000 shares
               
authorized; no shares issued and outstanding
    -       -  
Common stock, par value $.0001 per share, 200,000,000 shares
               
authorized; 50,000,000 shares issued and outstanding
    5,000       5,000  
Additional paid-in capital
    84,966       50,966  
Discount on common stock
    (2,700 )     (2,700 )
(Deficit) accumulated during the development stage
    (339,289 )     (85,852 )
                 
   Total stockholders' (deficit)
    (252,023 )     (32,586 )
                 
Total Liabilities and Stockholders' (Deficit)
  $ 770,146     $ 16,425  
 
The accompanying notes to financial statements
are an integral part of these financial statements.
 
F-2
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2009 AND 2008,
AND CUMULATIVE FROM INCEPTION (NOVEMBER 7, 2007)
THROUGH JUNE 30, 2009
(Unaudited)
 
   
Three Months Ended
June 30,
   
Six Months Ended
June 30,
   
Cumulative
From
 
   
2009
   
2008
   
2009
   
2008
   
Inception
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
 
Revenues
  $ -     $ -     $ -     $ -     $ -  
                                         
Expenses:
                                       
General and administrative-
                                       
Professional fees
    24,727       16,020       32,965       22,058       88,152  
Legal - incorporation
    -       -       -       -       2,200  
Consulting - related parties
    43,500       -       43,500       -       62,000  
Consulting
    115,000       18,500       115,000       21,500       123,000  
Amortization
    228       -       456       -       912  
Travel
    46,946               46,946               46,946  
Other
    6,021       284       6,070       802       7,579  
                                         
Total general and administrative expenses
    236,422       34,804       244,937       44,360       330,789  
                                         
(Loss) from Operations
    (236,422 )     (34,804 )     (244,937 )     (44,360 )     (330,789 )
                                         
Other Income (Expense)
                                       
Interest expense
    (8,500 )     -       (8,500 )     -       (8,500 )
                                         
Provision for income taxes
    -       -       -       -       -  
                                         
Net (Loss)
  $ (244,922 )   $ (34,804 )   $ (253,437 )   $ (44,360 )   $ (339,289 )
                                         
(Loss) Per Common Share:
                                       
(Loss) per common share - Basic and Diluted
  $ (0.00 )   $ (0.00 )   $ (0.01 )   $ (0.00 )        
                                         
Weighted Average Number of Common Shares
                                       
Outstanding - Basic and Diluted
    50,000,000       35,934,070       50,000,000       32,967,030          
 
The accompanying notes to financial statements are
an integral part of these statements.

F-3
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FOR THE PERIOD FROM INCEPTION (NOVEMBER 7, 2007)
THROUGH JUNE 30, 2009
(Unaudited)

                           
(Deficit)
             
                           
Accumulated
             
               
Additional
   
Discount
   
During the
   
Stock
       
    Common stock     Paid-in     on Common     Development    
Subscriptions
       
   
Shares
   
Amount
   
Capital
   
Stock
   
Stage
   
Receivable
   
Totals
 
Balance - November 7, 2007
    -     $ -     $ -     $ -     $ -     $ -     $ -  
                                                         
Common stock issued for cash
    30,000,000       3,000       -       (2,700 )     -       (300 )     -  
                                                         
Net (loss) for the year
    -       -       -       -       (4,950 )     -       (4,950 )
                                                         
Balance - December 31, 2007
    30,000,000     $ 3,000     $ -     $ (2,700 )   $ (4,950 )   $ (300 )   $ (4,950 )
                                                         
Stock subscription payment received
    -       -       -       -       -       300       300  
                                                         
Common stock issued
    20,000,000       2,000       50,966       -       -       -       52,966  
                                                         
Net (loss) for the year
    -       -       -       -       (80,902 )     -       (80,902 )
                                                         
Balance - December 31, 2008
    50,000,000     $ 5,000     $ 50,966     $ (2,700 )   $ (85,852 )   $ -     $ (32,586 )
                                                         
Warrants
    -       -       34,000       -       -       -       34,000  
                                                         
Net (loss) for the period
    -       -       -       -       (253,437 )     -       (253,437 )
                                                         
Balance - June 30, 2009
    50,000,000     $ 5,000     $ 84,966     $ (2,700 )   $ (339,289 )   $ -     $ (252,023 )
 
The accompanying notes to financial statements are
an integral part of these statements.
 
F-4
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND 2008,
AND CUMULATIVE FROM INCEPTION (NOVEMBER 7, 2007)
THROUGH JUNE 30, 2009
(Unaudited)
 
   
Six Months Ended
June 30,
   
Cumulative
From
 
   
2009
   
2008
   
Inception
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
 
Operating Activities:
                 
Net (loss)
  $ (253,437 )   $ (44,360 )   $ (339,289 )
Adjustments to reconcile net (loss) to net cash
                       
(used in) operating activities:
                       
Deferred offering costs
    -       20,000       -  
Amortization of discount on note payable
    8,500       -       8,500  
Amortization
    456       -       912  
Changes in net liabilities-
                       
Accrued liabilities
    123,898       (9,200 )     132,446  
                         
Net Cash Used in Operating Activities
    (120,583 )     (33,560 )     (197,431 )
                         
Investing Activities:
                       
Acquisition and costs of patent pending
    -       -       (15,500 )
                         
Net Cash Used in Investing Activities
    -       -       (15,500 )
                         
Financing Activities:
                       
Issuance of common stock
    -       53,266       87,266  
Proceeds from loans
    879,760       -       879,760  
Loans from related parties - Directors and stockholders
    (5,000 )     255       35,463  
                         
Net Cash Provided by Financing Activities
    874,760       53,521       1,002,489  
                         
Net (Decrease) Increase in Cash
    754,177       19,961       789,558  
                         
Cash - Beginning of Period
    1,381       -       -  
                         
Cash - End of Period
  $ 755,558     $ 19,961     $ 789,558  
                         
Supplemental Disclosure of Cash Flow Information:
                       
Cash paid during the period for:
                       
Interest
  $ -     $ -     $ -  
Income taxes
  $ -     $ -     $ -  
                         
Supplemental schedule of noncash investing and financing activities:
         
Warrants issued to promissory note holder
  $ 34,000     $ -          

The accompanying notes to financial statements are
an integral part of these statements.
 
F-5

ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
 
(1)   Summary of Significant Accounting Policies

Basis of Presentation and Organization

Ecologix Resource Group, Inc. (formerly Battery Control Corp.) (“Ecologix” or the “Company”) is a Delaware corporation in the development stage and has not commenced operations. The Company was incorporated under the laws of the State of Delaware on November 7, 2007.

The Company has revised its overall business strategy, the Company entered into an agreement to acquire long-term rights to 20,000 hectares (approximately 50,000 acres) of land rich in tropical hardwoods and other natural resources in Central Africa in consideration for a newly authorized convertible preferred stock issuance.  This acquisition augments the Company’s energy related business strategy.  The Company intends to harvest the high quality timber growing in the land parcel, consistent with the highest environmental standards.  The Company also intends to pursue its alternative energy projects for the country and its citizens which shall include growing biomass to be used in fuel and solar installations as desired by the local inhabitants and national governmental policy where the land is located.

The accompanying financial statements were prepared from the accounts of the Company under the accrual basis of accounting.

Unaudited Interim Financial Statements

The interim financial statements of the Company as of June 30, 2009, and for the periods ended, and cumulative from inception, are unaudited. However, in the opinion of management, the interim financial statements include all adjustments, consisting of only normal recurring adjustments, necessary to present fairly the Company’s financial position as of June 30, 2009, and the results of its operations and its cash flows for the periods ended June 30, 2009, and cumulative from inception. These results are not necessarily indicative of the results expected for the calendar year ending December 31, 2009. The accompanying financial statements and notes thereto do not reflect all disclosures required under accounting principles generally accepted in the United States. Refer to the Company’s audited financial statements as of December 31, 2008, filed with the SEC, for additional information, including significant accounting policies.

Cash and Cash Equivalents  

For purposes of reporting within the statement of cash flows, the Company considers all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.
 
Revenue Recognition

The Company is in the development stage and has yet to realize revenues from operations. Once the Company has commenced operations, it will recognize revenues when delivery of goods or completion of services has occurred provided there is persuasive evidence of an agreement, acceptance has been approved by its customers, the fee is fixed or determinable based on the completion of stated terms and conditions, and collection of any related receivable is probable.

F-6
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
 
Loss per Common Share

Basic loss per share is computed by dividing the net loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted loss per share is computed similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. The warrants and convertible promissory note have been excluded from the calculation of net loss per share, as their effect would be antidilutive.

Income Taxes

The Company accounts for income taxes pursuant to SFAS No. 109, Accounting for Income Taxes (“SFAS 109”). Under SFAS 109, deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The deferred tax assets and liabilities are classified according to the financial statement classification of the assets and liabilities generating the differences.

The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carryforward period under the federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimate.

Fair Value of Financial Instruments

The Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts the Company could realize in a current market exchange. As of June 30, 2009, the carrying value of accrued liabilities, and loans from directors and stockholders approximated fair value due to the short-term nature and maturity of these instruments.
 
Patent and Intellectual Property

The Company capitalizes the costs associated with obtaining a patent or other intellectual property associated with its intended business plan. Such costs are amortized over the estimated useful lives of the related assets.
 
Deferred Offering Costs

The Company defers as other assets the direct incremental costs of raising capital until such time as the offering is completed. At the time of the completion of the offering, the costs are charged against the capital raised. Should the offering be terminated, deferred offering costs are charged to operations during the period in which the offering is terminated.

F-7
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS
 
Impairment of Long-Lived Assets

The Company evaluates the recoverability of long-lived assets and the related estimated remaining lives when events or circumstances lead management to believe that the carrying value of an asset may not be recoverable. For the period ended June 30, 2009, no events or circumstances occurred for which an evaluation of the recoverability of long-lived assets was required.
 
Common Stock Registration Expenses

The Company considers incremental costs and expenses related to the registration of equity securities with the SEC, whether by contractual arrangement as of a certain date or by demand, to be unrelated to original issuance transactions. As such, subsequent registration costs and expenses are expensed as incurred.
 
Estimates

The financial statements are prepared on the basis of accounting principles generally accepted in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of June 30, 2009, and expenses for the period ended June 30, 2009, and cumulative from inception. Actual results could differ from those estimates made by management.
 
Recent Accounting Pronouncements
 
In April 2009, the FASB issued FSP No. FAS 157-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (“FSP FAS 157-4”).  FSP FAS 157-4 provides guidance on estimating fair value when market activity has decreased and on identifying transactions that are not orderly. Additionally, entities are required to disclose in interim and annual periods the inputs and valuation techniques used to measure fair value.  This FSP is effective for interim and annual periods ending after June 15, 2009.  The Company does not expect that the adoption of FSP FAS 157-4 will have a material impact on its financial condition or results of operations.

In October 2008, the FASB issued FSP No. FAS 157-3, “Determining the Fair Value of a Financial Asset When the Market for That Asset is Not Active,” (“FSP FAS 157-3”), which clarifies application of SFAS 157 in a market that is not active.  FSP FAS 157-3 was effective upon issuance, including prior periods for which financial statements have not been issued.  The adoption of FSP FAS 157-3 had no impact on the Company’s results of operations, financial condition or cash flows.

In December 2008, the FASB issued FSP No. FAS 140-4 and FIN 46(R)-8, “Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities.”  This disclosure-only FSP improves the transparency of transfers of financial assets and an enterprise’s involvement with variable interest entities, including qualifying special-purpose entities.  This FSP is effective beginning with the first reporting period (interim or annual) ending after December 15, 2008, with earlier application encouraged.  The Company adopted this FSP effective January 1, 2009.  The adoption of the FSP had no impact on the Company’s results of operations, financial condition or cash flows.

F-8
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

In December 2008, the FASB issued FSP No. FAS 132(R)-1, “Employers’ Disclosures about Postretirement Benefit Plan Assets” (“FSP FAS 132(R)-1”).  FSP FAS 132(R)-1 requires additional fair value disclosures about employers’ pension and postretirement benefit plan assets consistent with guidance contained in SFAS 157.  Specifically, employers will be required to disclose information about how investment allocation decisions are made, the fair value of each major category of plan assets and information about the inputs and valuation techniques used to develop the fair value measurements of plan assets. This FSP is effective for fiscal years ending after December 15, 2009.  The Company does not expect that the adoption of FSP FAS 132(R)-1 will have a material impact on its financial condition or results of operations.

In September 2008, the FASB issued exposure drafts that eliminate qualifying special purpose entities from the guidance of SFAS No. 140, “Accounting for Transfers and Servicing of Financial  Assets and  Extinguishments of Liabilities,” and  FASB  Interpretation 46 (revised December 2003), “Consolidation of  Variable  Interest Entities − an interpretation of ARB  No. 51,” as well as other modifications.  While the proposed revised pronouncements have not been finalized and the proposals are subject to further public comment, the Company anticipates the changes will not have a significant impact on the Company’s financial statements.  The changes would be effective March 1, 2010, on a prospective basis.

In June 2008, the FASB issued FASB Staff Position EITF 03-6-1, Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities, (“FSP EITF 03-6-1”). FSP EITF 03-6-1 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting, and therefore need to be included in the computation of earnings per share under the two-class method as described in FASB Statement of Financial Accounting Standards No. 128, “Earnings per Share.” FSP EITF 03-6-1 is effective for financial statements issued for fiscal years beginning on or after December 15, 2008 and earlier adoption is prohibited. The Company is not required to adopt FSP EITF 03-6-1; nor does the Company believe that FSP EITF 03-6-1 would have material effect on its financial position   and results of operations if adopted.

In May 2008, the FASB issued SFAS No. 163, “Accounting for Financial Guarantee Insurance Contracts-and interpretation of FASB Statement No. 60”.  SFAS No. 163 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement of premium revenue and claims liabilities. This statement also requires expanded disclosures about financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal years beginning on or after December 15, 2008, and interim periods within those years. SFAS No. 163 has no effect on the Company’s financial position, statements of operations, or cash flows at this time.

In May 2008, the FASB issued SFAS No. 162, “The Hierarchy of Generally Accepted Accounting Principles”.  SFAS No. 162 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. SFAS No. 162 will become effective 60 days after the SEC approves the PCAOB’s amendments to AU Section 411 of the AICPA Professional Standards. SFAS No. 162 has no effect on the Company’s financial position, statements of operations, or cash flows at this time.

In March 2008, the FASB issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activities—an amendment of FASB Statement No. 133.  This standard requires companies to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008, with early application encouraged. SFAS No. 161 has no effect on the Company’s financial position, statements of operations, or cash flows at this time.
 
F-9
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

In December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding the use of a "simplified" method, as discussed in SAB No. 107 (SAB 107), in developing an estimate of expected term of "plain vanilla" share options in accordance with SFAS No. 123 (R), Share-Based Payment.  In particular, the staff indicated in SAB 107 that it will accept a company's election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007. It is not believed that this will have an impact on the Company’s financial position, results of operations or cash flows.

In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statements—an amendment of ARB No. 51.  This statement amends ARB 51 to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Before this statement was issued, limited guidance existed for reporting noncontrolling interests. As a result, considerable diversity in practice existed. So-called minority interests were reported in the consolidated statement of financial position as liabilities or in the mezzanine section between liabilities and equity. This statement improves comparability by eliminating that diversity. This statement is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier adoption is prohibited. The effective date of this statement is the same as that of the related Statement 141 (revised 2007). It is not believed that this will have an impact on the Company’s financial position, results of operations or cash flows.

In December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations.  This Statement replaces FASB Statement No. 141, Business Combinations, but retains the fundamental requirements in Statement 141.  This Statement establishes principles and requirements for how the acquirer: (a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree; (b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and (c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. This statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. An entity may not apply it before that date. The effective date of this statement is the same as that of the related FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements.  It is not believed that this will have an impact on the Company’s financial position, results of operations or cash flows.

(2)   Development Stage Activities and Going Concern

The Company is currently in the development stage, and has no operations. The Company has revised its overall business strategy, the Company entered into an agreement to acquire long-term rights to 20,000 hectares (approximately 50,000 acres) of land rich in tropical hardwoods and other natural resources in Central Africa in consideration for a newly authorized convertible preferred stock issuance.  This acquisition augments the Company’s energy related business strategy.  The Company intends to harvest the high quality timber growing in the land parcel, consistent with the highest environmental standards.  The Company also intends to pursue its alternative energy projects for the country and its citizens which shall include growing biomass to be used in fuel and solar installations as desired by the local inhabitants and national governmental policy where the land is located.

F-10
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

The Company commenced a capital formation activity to submit a Registration Statement on Form SB-2 to the Securities and Exchange Commission (“SEC”) to register and sell in a self-directed offering 20,000,000 (post forward stock split) shares of newly issued common stock at an offering price of $0.04 for proceeds of up to $80,000. The Registration Statement on Form SB-2 was filed with the SEC on January 15, 2008 and declared effective on March 10, 2008. As of June 30, 2008, the Company received stock subscriptions for 20,000,000 (post forward stock split) shares of common stock, par value $0.0001 per share, at an offering price of $0.04 per share, and deposited proceeds of $80,000.

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has not established any source of revenue to cover its operating costs, and as such, has incurred an operating loss since inception. Further, as of June 30, 2009, the cash resources of the Company were insufficient to meet its current business plan, and the Company had negative working capital. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

(3)   Patent Pending

In November 2007, the Company entered into an Invention Assignment Agreement with Moshe Averbuch, the inventor, whereby the Company acquired from Moshe Averbuch all of the right, title and interest in the Invention known as the “Method and apparatus for battery testing and measuring” for consideration of $12,000. Under the terms of the Assignment Agreement, the Company was assigned rights to the Invention free of any liens, claims, royalties, licenses, security interests or other encumbrances. The inventor of the Invention is not an officer or director of the Company, nor an investor or promoter of such. The Invention is the subject of United States Patent Application 10/707,521 which was filed with the United States Patent and Trademark Office on December 19, 2003. The patent was approved on April 2, 2008. The historical cost of obtaining the Invention of $12,000 and legal fees of $3,500 for the patent have been capitalized by the Company. The historical cost of the Patent will be amortized over its useful life, which is estimated to be 17 years.

(4)   Loans from Related Parties - Directors and Stockholders

As of June 30, 2009, loans from related parties amounted to $35,463, and represented working capital advances from directors who are also stockholders of the Company. The loans are unsecured, non-interest bearing, and due on demand.

(5)   Note Payable

On March 13, 2009, the Company entered into an 18% Senior Convertible Promissory Note to finance the Company's business strategy. The note bears 18% interest and is due and payable with accrued interest on March 13, 2010. The note is convertible in whole or in part at the Company's option into shares of the Company's common stock at $1 per share. In addition to the payment of principal and interest, the holder of the note is entitled to receive cashless warrants exercisable into 850,000 shares of common stock. The warrants expire on March 13, 2012.

F-11
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

(6)  Loans payable

Loans payable are unsecured, non-interest bearing, and due on demand.

(7)   Common Stock

On November 20, 2007, the Company issued 30,000,000 (post forward stock split) shares of its common stock to two individuals who are Directors and officers for proceeds of $300.
 
The Company commenced a capital formation activity to submit a Registration Statement on Form SB-2 to the Securities and Exchange Commission (“SEC”) to register and sell in a self-directed offering 20,000,000 (post forward stock split) shares of newly issued common stock at an offering price of $0.04 for proceeds of up to $80,000. The Registration Statement on Form SB-2 was filed with the SEC on January 15, 2008 and declared effective on March 10, 2008. As of June 30, 2008, the Company received stock subscriptions for 20,000,000 (post forward stock split) shares of common stock, par value $0.0001 per share, at an offering price of $0.04 per share, and deposited proceeds of $80,000. Related offering costs amounted to $27,400.

On December 1, 2008, the Company implemented a 5 for 1 forward stock split on its issued and outstanding shares of common stock to the holders of record as of December 1, 2008. As a result of the split, each holder of record on the record date automatically received four additional shares of the Company's common stock. After the split, the number of shares of common stock issued and outstanding are 25,000,000 shares. The accompanying financial statements and related notes thereto have been adjusted accordingly to reflect this forward stock split.

On March 24, 2009, the Company implemented a 2 for 1 forward stock split on its issued and outstanding shares of common stock to the holders of record as of March 24, 2009. As a result of the split, each holder of record on the record date automatically received one additional share of the Company's common stock. After the split, the number of shares of common stock issued and outstanding are 50,000,000 shares. The accompanying financial statements and related notes thereto have been adjusted accordingly to reflect this forward stock split.

(8)   Income Taxes

The provision (benefit) for income taxes for the nine months ended June 30, 2009 and 2008, was as follows (assuming a 23% effective tax rate):  
 
   
2009
   
2008
 
Current Tax Provision:
           
Federal-
           
Taxable income
  $ -     $ -  
                 
Total current tax provision
  $ -     $ -  
                 
Deferred Tax Provision:
               
Federal-
               
Loss carryforwards
  $ 58,291     $ 10,203  
Change in valuation allowance
    (58,291 )     (10,203 )
                 
Total deferred tax provision
  $ -     $ -  
 
F-12
 
ECOLOGIX RESOURCE GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO FINANCIAL STATEMENTS

The Company had deferred income tax assets as of June 30, 2009 and December 31, 2008, as follows:
 
   
2009
   
2008
 
Loss carryforwards
  $ 78,036     $ 19,746  
Less - Valuation allowance
    (78,036 )     (19,746 )
                 
Total net deferred tax assets
  $ -     $ -  
 
The Company provided a valuation allowance equal to the deferred income tax assets for the period ended June 30, 2009, because it is not known currently whether future taxable income will be sufficient to utilize the loss carryforwards.

As of June 30, 2009, the Company had approximately $94,368 in tax loss carryforwards that can be utilized in future periods to reduce taxable income, and which expire by the year 2029.

(9)   Related Party Transactions

As described in Note 4, as of June 30, 2009, the Company owed $35,463 to directors, officers, and principal stockholders of the Company for working capital loans.

From November 7, 2007 (inception) through June 30, 2009, the company paid $62,000 to officers of the Company for executive services.

(10)   Concentration of Credit Risk
 
The Company’s cash and cash equivalents are invested in a major bank in Israel and are not insured. Management believes that the financial institution that holds the Company’s investments is financially sound and accordingly, minimal credit risk exists with respect to these investments.

(11)   Commitments
 
On February 4, 2009, the Company entered into an agreement to acquire long-term rights to 20,000 hectares (approximately 50,000 acres) of land rich in tropical hardwoods and other natural resources in Central Africa in consideration for a newly authorized convertible preferred stock issuance.  The Agreement provides that the Company will issue a total of 10,000 convertible preferred shares. Convertibility will be subject, among other things, to achievement of agreed benchmarks over a 36-month period.

F-13
 
Item 2. Management’s Discussion and Analysis and Plan of Operations.

USE OF NAMES

In this annual report, the terms “ECOLOGIX RESOURCE GROUP INC.”, “Company”, “we”, or “our”, unless the context otherwise requires, mean ECOLOGIX RESOURCE GROUP INC. and its subsidiaries.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
 
This annual report on Form 10-KSB and other reports that we file with the SEC contain statements that are considered forward-looking statements.  Forward-looking statements give the Company’s current expectations, plans, objectives, assumptions or forecasts of future events. All statements other than statements of current or historical fact contained in this annual report, including statements regarding the Company’s future financial position, business strategy, budgets, projected costs and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plans,” “potential,” “projects,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend,” and similar expressions. These statements are based on the Company’s current plans and are subject to risks and uncertainties, and as such the Company’s actual future activities and results of operations may be materially different from those set forth in the forward looking statements. Any or all of the forward-looking statements in this annual report may turn out to be inaccurate and as such, you should not place undue reliance on these forward-looking statements.  The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. The forward-looking statements can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and assumptions due to a number of factors, including:
 
·            dependence on key personnel;
 
·            competitive factors;
 
·            degree of success of research and development programs
 
·            the operation of our business; and
 
·            general economic conditions in the United States, Israel and China
 
These forward-looking statements speak only as of the date on which they are made, and except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained in this annual report.

3
ABOUT OUR COMPANY
 
We were incorporated in Delaware on November 7, 2007 and are a development stage company. On November 19, 2007, we entered into an exclusive worldwide patent sale agreement (the "Patent Transfer and Sale Agreement ") with Mr. Moshe Averbuch, the original inventor, in relation to a patent-pending technology (Patent Application Number: 10/707,521). We plan to use said technology to create a method and supporting apparatus for measuring and checking standard battery parameters such as voltage, cold cranking amperage (CCA), state of charge (SOC), and state of health (SOH) in exchange for a commitment to pay Mr. Averbuch US$12,000 (Twelve thousand United States Dollars), according to the condition specified in the Patent Transfer and Sale Agreement related to the Patent Application Number 10/707,521.
 
In furtherance of its overall business strategy, on February 4, 2009, the Company entered into an agreement for the acquisition of long-term rights to 20,000 hectares (approximately 50,000 acres) of land rich in tropical hardwoods and other natural resources in Central Africa in consideration for a newly authorized convertible preferred stock issuance.  This acquisition augments the Company’s energy related business strategy.  The Company intends to harvest the high quality timber growing in the land parcel, consistent with the highest environmental standards.  The Company also intends to pursue its alternative energy projects for the country and its citizens which shall include growing biomass to be used in fuel and solar installations as desired by the local inhabitants and national governmental policy where the land is located.

The Agreement, which is dated as of February 4, 2009, provides the Company will issue a total of 10,000,000 convertible preferred shares.  Convertibility will be subject, among other things, to achievement of agreed benchmarks over a 36-month period.

Our principal offices are located at:
9903 Santa Monica Blvd.
Suite 918
Beverly Hills, CA. 90212 
888-LOGIXRG
 
In addition to the Agreement mentioned above, we still maintain our original business in relation to the patented  technology comprising  the test method and the battery testing device
 
 
PLAN OF OPERATIONS
 
Liquidity, Capital Resources and Operations:
 
During the fiscal quarter ended June 30, 2009 , net cash used by operating activities was $120,583 and  the Company incurred net losses of $253,437..


General Working Capital
 
During the three months ended June 30 2009  the Company raised $850,000 thru the issuance of convertible debt securities . The Company believes it has sufficient funds to meet its working capital obligations for the next twelve months ahead.
  
Results of Operations:
 
For the Six Months Ended June 30, 2009

Our balance sheet as of June 30, 2009 reflects cash in the amount of $755,558. Cash and cash equivalents from inception to date have been sufficient to provide the operating capital necessary to operate to date. The operating expenses and net loss for the Six Months ended June 30, 2009 amounted to $244,937 , and 253,437 accordingly .

We have, in our history, generated limited income from operations, have incurred substantial expenses and have sustained losses. In addition, we expect to continue to incur significant operating expenses. As a result, we will need to generate significant revenues to achieve profitability, which may not occur. We expect our operating expenses to increase as a result of our planned expansion. Even if we do achieve profitability, we may be unable to sustain or increase profitability on a quarterly or annual basis in the future.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

Item 3. Controls and Procedures

(a) Evaluation of disclosure controls and procedures. Our Chief Executive Officer and Principal Financial Officer, after evaluating the effectiveness of our “disclosure controls and procedures” (as defined in the Securities Exchange Act of 1934 Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this Report on Form 10-QSB (the “Evaluation Date”), has concluded that as of the Evaluation Date, our disclosure controls and procedures are effective to provide reasonable assurance that information we are required to disclose in 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 rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Accounting Officer, as appropriate, to allow timely decisions regarding required disclosure.

(b) Changes in internal control over financial reporting. There were no changes in our internal control over financial reporting during our most recent fiscal quarter that materially affected, or were reasonably likely to materially affect, our internal control over financial reporting.

Part II.  Other Information

Item 1. Legal Proceedings .

 None

Item 2. Changes In Securities

 None

Item 3. Defaults Upon Senior Securities

 None

Item 4. Submission of Matters To A Vote Of Security Holders

The Company filed with the Secretary of the State of Delaware on or about May 1, 2009, to amend Article 1 of its Certificate of Incorporation to change its name from “Battery Control Corp.” to “ Ecologix Resource Group, Inc. ;” as well as to amend Article 4 of its Certificate of Incorporation to authorize the issuance of convertible preferred stock in the amount of 50,000,000 shares. The name change became effective June 15 2009 .
 
The Company declared a forward split of the shares of common stock at a rate of two (2) new shares for each one (1) old share of common stock.  The record date fixed by the Company is February 20, 2009, and was effective March 24, 2009.

Item 5. Other Information

 None
 
Item 6. Exhibits
 
a.
 
Exhibits:
3.1*
 
Articles of Incorporation of the Company
     
3.2*
 
By-Laws of the Company
     
3.3*
 
Form of Common Stock Certificate of the Company
     
10.1*
 
Patent and Technology Licensing Agreement dated November 19, 2007, between the Company and the Licensor
     
10.2*
 
United States Patent Assignment
     
31.1
 
Certification of Principal Executive Officer Pursuant to Exchange Act Rule 13A-14(A)/15D-14(A) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
     
31.2
 
Certification of Principal Financial Officer Pursuant to Exchange Act Rule 13A-14(A)/15D-14(A) as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
     
32.1
 
Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
     
32.2
 
Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

*      Previously filed as an exhibit to the Company’s Form SB-2 filed on January 15, 2008, and subsequent filings
 
8

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, Ecologix Resource Group Inc. has duly caused this Report to be signed on behalf of the undersigned thereunto duly authorized on August 12, 2009.
 
 
Ecologix Resource Group Inc.
 
       
By: 
/s/  Jason Fine
 
   
Jason Fine, President and CEO
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed by the following persons in the capacities indicated and on August 12, 2009.

Signature
 
Title
 
Date
 
 
       
/s/  Jason Fine
 
President and CEO
 
August 12, 2009
Jason Fine
 
and Director
   
 
 
       
/s/ Asher Zwebner
 
Chief Financial Officer
 
August 12 , 2009
Asher Zwebner
       
 
9
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