(X )	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITES EXCHANGE ACT OF 1934

For the quarterly period ended                                                      February 28, 2010

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

	For the transaction period from                                                                 to
	Commission File number                                                      0-24707

STANDARD CAPITAL CORPORTION

(Exact name of registrant as specified in charter)

Delaware	91-1949078
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employee I.D. No.)

557 M. Almeda Street
Metro Manila, Philippines
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code  011-632 724-5517

Not Applicable

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

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)   Yes [  ]   No   [X]

 

 

 

 

		Page Number
PART 1.	FINANCIAL INFORMATION
ITEM 1.	Financial Statements (unaudited)	3
	Balance Sheets as at February 28, 2010 and August 31, 2009	4
	Statement of Operations For the three and six months ended February 28, 2010 and 2009 and for the period September 24, 1998 (Date of Inception) to February 28, 2010	5
	Statement of Cash Flows For the six months ended February 28, 2010 and 2009 and for the period September 24, 1998 (Date of  Inception) to February 28, 2010	6
	Notes to the Financial Statements.	7
ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
ITEM 3.	Quantitative and Qualitative Disclosure about Market Risk	11
ITEM 4.	Controls and Procedures	11
ITEM 4T.	Controls and Procedures	13
PART 11.	OTHER INFORMATION	13
ITEM 1.	Legal Proceedings	13
ITEM 1A.	Risk Factors	13
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	15
ITEM 3.	Defaults Upon Senior Securities	15
ITEM 4.	Submission of Matters to a Vote of Security Holders	15
ITEM 5.	Other Information	15
ITEM 6.	Exhibits	15
	SIGNATURES.	16

 

 

 

	Feb 28, 2010	August 31, 2009
ASSETS
CURRENT ASSETS
Cash	$          725	$      3,441
Total Current Assets	$          725	$      3,441
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
CURRENT LIABILITIES
Accounts payable	$      96,723	$    95,626
Accounts payable – related parties	15,948	15,355
Total Current Liabilities	112,671	110,981
STOCKHOLDERS’ DEFICIENCY
Common Stock
200,000,000 shares authorized, at $0.001 par value          2,285,000 shares issued and outstanding	2,285	2,285
Capital in excess of par value	98,565	96,465
Deficit accumulated during the Development stage	(212,796)	(206,290)
Total Stockholders’ Deficiency	(111,946)	(107,540)
	$           725	$     3,441

 

	Three months ended Feb. 28, 2010	Three months ended Feb. 28,  2009	Six Months Ended Feb.28, 2010	Six Months Ended Feb. 28, 2009	Date of Inception to Feb. 28,  2010
SALES	$           -	$          -	$            -	$              -	$             -
GENERAL AND ADMINISTRATIVE   EXPENSES:
Accounting and audit	1,750	1,750	3,500	3,500	76,130
Annual general meeting	-	-	-	-	2,250
Bank charges and interest	21	22	66	41	2,149
Consulting fees	-	-	-	-	17,500
Edgar filing fees	250	250	500	500	11,529
Filing fees	-	-	-	-	1,895
Geological report	-	-	-	-	2,780
Incorporation costs	-	-	-	-	255
Legal fees	-	-	-	-	6,987
Management fees	600	600	1,200	1,200	27,600
Miscellaneous	-	-	-	-	1,600
Office expenses	39	34	190	100	6,931
Rent	300	300	600	600	13,800
Staking and explorationcosts	-	-	-	-	17,617
Telephone	150	150	300	300	6,900
Transfer agent’s fees	100	200	150	250	11,850
Travel and entertainment	-	-	-	-	5,023
NET LOSS	$ (3,210)	$ ( 3,306)	$ (6,506)	$   (6,491)	$  (212,796)
NET LOSS PER COMMON SHARE
Basic	$   (0.00)	$    (0.00)	$ (0.00)	$  (0.00)
AVERAGE OUTSTANDING SHARES
Basic	2,285,000	2,285,000	2,285,000	2,285,000

 

 

 

	For the six months ended Feb. 28, 2010	For the Six months ended Feb. 28, 2009	Sept 24, 1998 to Feb. 28, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$   (6,506)	$    (6,491)	$   (212,796)
Adjustments to reconcile net loss to net cashprovided by operating activities:
Change in accounts payable	1,097	53	96,723
Capital contributions – expenses	2,100	2,100	48,300
Net Change in Cash from Operations	(3,309)	(4,338)	(67,773)
CASH FLOWS FROM INVESTING ACTIVITIES	-	-	-
CASH FLOWS FROM FINANCING ACTIVITIES:
Advances from related parties	593	2,101	15,948
Proceeds from issuance of common stock	-	-	52,550
Cash flows from financing activities	593	2,101	68,498
Net (Decrease) Increase in Cash	(2,716)	(2,237)	725
Cash at Beginning of Period	3,441	3,318	-
CASH AT END OF PERIOD	$        725	$    1,081	$          725

 
 

The shareholders, at the Annual General Meeting held on February 20, 2004, approved an amendment to the Certificate of Incorporation whereby the authorized share capital of the Company would be increased from 25,000,000 common shares with a par value of $0.001 per share to 200,000,000 common shares with a par value of $0.001 per share.

The Company utilizes the liability method of accounting for income taxes.  Under the liability method deferred tax assets and liabilities are determined based on differences between financial reporting and the tax bases of the assets and liabilities and are measured using the enacted tax rates and laws that will be in effect, when the differences are expected to be reversed.   An allowance against deferred tax assets is recorded, when it is more likely than not, that such tax benefits will not be realized.

 

Statement of Cash Flows

For the purposes of the statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents.

Basic and Diluted Net Income (loss) Per Share

Basic net income (loss) per share amounts are computed based on the weighted average number of shares actually outstanding.   Diluted net income (loss) per share amounts are computed using the weighted average number of common and common equivalent shares outstanding as if shares had been issued on the exercise of any common share rights unless the exercise becomes antidilutive and then only the basic per share amounts are shown in the report.

Environmental Requirements

At the report date environmental requirements related to the mineral claim acquired are unknown and therefore an estimate of any future cost cannot be made.

 

 

4.	STOCK OPTION PLAN

At the Annual General Meeting held on February 20, 2004, the shareholders approved a Stock Option Plan (the “Plan”) whereby a maximum of 5,000,000 common shares were authorized but unissued to be granted to directors, officers, consultants and non-employees who assisted in the development of the Company.   The value of the stock options to be granted under the Plan will be determined on the fair market value of the Company’s shares when they are listed on any established stock exchange or a national market system at the closing price as at the date of granting the option.   No stock options have been granted under this Plan.

5.	CAPITAL STOCK

The Company has completed one Regulation D offering of 1,295,000 shares of its capital stock for $3,050.  In addition, the Company has completed an Offering Memorandum whereby 990,000 common shares were issued for at a price of $0.05 per share for $49,500.

6.	GOING CONCERN

The Company will need additional working capital to service its debt and for its intended purpose of acquiring another mineral claim, which raises substantial doubt about its ability to continue as a going concern.   Continuation of the Company as a going concern is dependent upon obtaining additional working capital and the management of the Company has developed a strategy, which it believes will accomplish this objective through additional equity funding, and long term financing, which will enable the Company to operate for the coming year.

 

 

 

 

 

 

 

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

 
 

●	our variations in our operations results, either quarterly or annually;
●	trading patterns and share prices in other exploration companies which our shareholders consider similar to ours;
●	the merits of a new mineral claim, and
●	other events which we have no control over.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.	Because Standard’s auditors have issued a going concern opinion and because its officers and directors will not loan any money to it, Standard may not be able to achieve its objectives and may have to suspend or cease exploration activity.

 

 

2.	With the expiry of the Standard mineral claim, the Company has no assets to build a future thereon.

 

 

 

 

 

3.	Standard lacks an operating history and has losses which it expects to continue into the future. As a result, Standard may have to suspend or cease exploration activity or cease operations.

 

 

	*	Its ability to locate a profitable mineral property
	*	Its ability to locate an economic ore reserve
	*	Its ability to generate revenues
	*	Its ability to reduce exploration costs.

 

 

4.

Because Standard’s officers and directors do not have technical training or experience in managing a public company, it will have to hire qualified personnel to fulfill these functions. If Standard lacks funds to retain such personnel, or cannot locate qualified personnel, it may have to suspend or cease exploration activity or cease operations which will result in the loss of its shareholders’ investment.

 

 

 

5.	Because Standard’s officers and directors have other outside business activities and may not be in a position to devote a majority of their time to Standard’s exploration activity, its exploration activity may be sporadic which may result in periodic interruptions or suspensions of exploration.

 

 

6.  Standard anticipates the need to sell additional treasury shares in the future meaning that there will be a dilution to its existing shareholders resulting in their percentage ownership in Standard being reduced accordingly.

 

7.  Because Standard’s securities are subject to penny stock rules, its shareholders may have difficulty reselling their shares.

 

1.1	Certificate of Incorporation (incorporated by reference from Standard’s Registration Statement on Form 10-SB filed on December 6, 1999)

1.2	Articles of Incorporation (incorporated by reference from Standard’s Registration Statement on Form 10-SB filed on December 6, 1999)

1.3	By-laws (incorporated by reference from Standard’s Registration Statement on Form 10-SB filed on December 6, 1999)