10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q/A

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended August 31, 2015

or

[  ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________________ to ___________________

Commission File Number 000-54253

FALCONRIDGE OIL TECHNOLOGIES CORP.

(Exact name of registrant as specified in its charter)

Nevada	20-0266164
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)
17-120 West Beaver Creek Rd., Richmond Hill, Ontario, Canada	L4B 1L2
(Address of principal executive offices)	(Zip Code)

(905) 771-6551

(Registrant’s telephone number, including area code)

N/A

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

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. [X] YES [  ] NO

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). [X] YES [  ] NO

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company.  See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [  ]	Accelerated filer [  ]
Non-accelerated filer [  ]	Smaller reporting company [X]
(Do not check if a smaller reporting company)

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. [  ] YES [  ] NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

186,295,240 common shares issued and outstanding as of October 16, 2015.

EXPLANATORY NOTE

Our company is filing this Amendment No. 1 on Form 10-Q/A (the “Amendment”) to our quarterly report on Form 10-Q for the period ended August 31, 2015 (the “Form 10-Q”), filed with the Securities and Exchange Commission on October 20, 2015 (the “Original Filing Date”), to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from our Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language):

101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Schema
101.CAL	XBRL Taxonomy Calculation Linkbase
101.DEF	XBRL Taxonomy Definition Linkbase
101.LAB	XBRL Taxonomy Label Linkbase
101.PRE	XBRL Taxonomy Presentation Linkbase

This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date.

Pursuant to Rule 406T of Regulation S-T, the interactive data files attached as Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Pursuant to Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the certifications required pursuant to the rules promulgated under the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, which were included as exhibits to the Original Report, have been amended, restated and re-executed as of the date of this Amendment No. 1 and are included as Exhibits 31.1 and 32.1 hereto. 

2

FALCONRIDGE OIL TECHNOLOGIES CORP.

Form 10-Q

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
Item 1. Financial Statements	4
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	14
Item 3. Quantitative and Qualitative Disclosures About Market Risk	24
Item 4. Controls and Procedures	24
PART II - OTHER INFORMATION
Item 1. Legal Proceedings	24
Item 1A. Risk Factors	24
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	24
Item 3. Defaults Upon Senior Securities	25
Item 4. Mining Safety Disclosures	25
Item 5. Other Information	25
Item 6. Exhibits	26
SIGNATURES	28

3

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

Our unaudited interim consolidated financial statements for the three and six month periods ended August 31, 2015 form part of this quarterly report. They are stated in United States Dollars (US$) and are prepared in accordance with United States generally accepted accounting principles.

MANAGEMENT'S COMMENTS ON UNAUDITED INTERIM FINANCIAL STATEMENTS

The accompanying unaudited interim consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States of America and with the rules and regulations of the Securities and Exchange Commission to Form 10-Q and Article 8 of Regulation S-X. These unaudited interim consolidated financial statements should be read in conjunction with the financial statements of our company for the year ended February 28, 2015 and notes thereto contained in the information as part of our company’s Annual Report on Form 10-K filed with the SEC on June 15, 2015. Notes to the consolidated financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted. In the opinion of management, the unaudited interim consolidated financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are necessary to present fairly the financial position and the results of operations for the interim periods presented herein. Unaudited interim results are not necessarily indicative of the results for the full year.

4

Falconridge Oil Technologies Corp.

Consolidated Balance Sheets

As at August 31, 2015 and February 28, 2015

(Unaudited)

	August 31,			February 28,
	2015			2015
ASSETS
Current
Cash	$	201,947		$	233,551
Accounts receivable		7,797			2,714
Prepaid and other current assets		42,800			11,808
Deferred finance costs, net of accumulated amortization of $25,600 and $0 respectively		51,274			95,974
Total current assets		303,818			344,047
Property & equipment net of accumulated depreciation of $3,937 and $3,436 respectively		2,070			2,809
Oil and gas properties net of accumulated depletion of $30,799 and $30,712 respectively		66,872			72,322
Total assets	$	372,760		$	419,178
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current
Accounts payable	$	136,311		$	147,389
Accounts payable related parties		118,322			133,421
Accrued liabilities		41,646			52,948
Loans payable - related parties		1,109,589			1,170,275
Derivative liability		423,698			369,344
Loan payable		70,000			70,000
Convertible notes payable, net of debt discount of $359,656 and $335,076 respectively		106,594			38,674
Total current liabilities		2,006,160			1,982,051
Total liabilities		2,006,160			1,982,051
STOCKHOLDERS' DEFICIT
Preferred stock $0.001 par value, 450,000,000 shares authorized
0 shares issued and outstanding
Common stock, $.001 par value, 450,000,000 shares authorized;
57,213,569 and 49,130,616 shares issued and outstanding as of
August 31, 2015 and February 28, 2015		57,214			49,131
Additional paid in capital		466,855			320,969
Accumulated Deficit		(2,557,173	)		(2,166,283	)
Accumulated other comprehensive income		399,704			233,310
Total stockholders' deficit		(1,633,400	)		(1,562,873	)
Total liabilities and stockholders' deficit	$	372,760		$	419,178

The accompanying notes are an integral part of these consolidated financial statements.

5

Falconridge Oil Technologies Corp.

Consolidated Statements of Operations and Comprehensive Loss

For the Six Months Ended August 31, 2015 and  2014

(Unaudited)

	Three Months			Three Months			Six Months			Six Months
	Ended			Ended			Ended			Ended
	August 31,			August 31,			August 31,			August 31,
	2015			2014			2015			2014
Oil & gas revenue	$	3,460		$	1,497		$	5,211		$	7,820
Expenses
General and administrative		223,911			55,039			293,315			113,064
Depreciation, amortization and depletion		2,724			2,291			3,276			5,482
Total operating expense		226,635			57,330			296,591			118,546
Operating loss		(223,175	)		(55,833	)		(291,380	)		(110,726	)
Other income (expense)
Interest (expense) income		(53,977	)		(2,000	)		(100,800	)		(4,000	)
Amortization of deferred finance costs		(25,600	)		-			(51,200	)		-
Change in fair value of derivative liability		217,218			-			52,490			-
		137,641			(2,000	)		(99,510	)		(4,000	)
Net Loss	$	(85,534	)	$	(57,833	)	$	(390,890	)	$	(114,726	)
Loss per common share - Basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.01	)	$	(0.01	)
Weighted average number of common shares outstanding		53,327,358			49,016,667			53,327,358			49,016,667
Comprehensive income (loss)
Net Loss	$	(85,534	)	$	(57,833	)	$	(390,890	)	$	(114,726	)
Currency translation adjustment		71,996			-			119,195			-
Total comprehensive income (loss)	$	(13,538	)	$	(57,833	)	$	(271,695	)	$	(114,726	)

The accompanying notes are an integral part of these consolidated financial statements.

6

Falconridge Oil Technologies Corp.

Consolidated Statement of Stockholders' Deficit

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

										Accumulated
					Additional		Total			Comprehensive
	Common		Stock		Paid in		Accumulated			Income		Stockholders'
	Shares		Amount		Capital		Deficit			(loss)		Deficit
Balances, February 28, 2015		49,130,616	$	49,131	$	320,969	$	(2,166,283	)	$	280,509	$	(1,515,674	)
Common stock issued		8,082,953		8,083		145,886		-			-		153,969
Currency translation adjustment		-		-		-		-			119,195		119,195
Net loss		-		-		-		(390,890	)		-		(390,890	)
Balances, August 31, 2015		57,213,569	$	57,214	$	466,855	$	(2,557,173	)	$	399,704	$	(1,633,400	)

The accompanying notes are an integral part of these consolidated financial statements.

7

Falconridge Oil Technologies Corp.

Consolidated Statements of Cash Flows

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

	August 31,			August 31,
	2015			2014
Cash flows from operating activities
Net Loss	$	(390,890	)	$	(114,726	)
Adjustment to reconcile net loss to net cash used in operations
Non-cash interest		89,233			-
Depreciation, amortization and depletion		3,276			5,482
Stock based compensation		85,600			-
Amortization of deferred finance costs		51,200			-
Change in fair value of derivative liability		(52,490	)		-
Changes in working capital
Accounts receivable		(5,083	)		1,279
Accounts payable and accrued liabilities		10,416			82,147
Prepaid and other current assets		11,808			-
Accounts payable - related parties		(15,099	)		-
Net cash used in operating activities		(212,029	)		(25,818	)
Cash flows from financing activities
Proceeds from Convertible notes payable		100,000			-
Financing fees paid		(6,500	)		-
Net cash provided by financing activities		93,500			-
Effect of foreign currency on cash		86,925			-
Net decrease change in cash		(31,604	)		(25,818	)
Cash, beginning of period		233,551			26,797
Cash, end of period	$	201,947		$	979
Supplemental disclosure of cash flow information:
Cash paid during the year for income taxes	$	-		$	-
Cash paid during the year for interest	$	-		$	-
Non-cash investing and financing disclosures:
Consulting fees  via shares of common stock	$	128,400		$	-
Convertible debt repaid with common shares	$	7,500		$	-
Addition of derivative liability/debt discount	$	113,814		$	-

The accompanying notes are an integral part of these consolidated financial statements.

8

Falconridge Oil Technologies Corp.

Notes to Consolidated Financial Statements

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

1. Incorporation and nature of operations

Falconridge Oil Technologies Corp. (“the Company”) was incorporated on May 30, 2007 under the name Ameriwest Minerals Corp. on December 23, 2010, the Company changed its name to Ameriwest Petroleum Corp. by way of a merger with its wholly-owned subsidiary, Ameriwest Petroleum Corp., which was formed solely for the change of name.

Effective July 2, 2013, in accordance with approval from the Financial Industry Regulatory Authority ("FINRA"), the Company changed its name from "Ameriwest Petroleum Corp." to "Falconridge Oil Technologies Corp." by way of a merger with its wholly-owned subsidiary Falconridge Oil Technologies Corp., which was formed solely for the change of name.

The name change became effective with the OTCBB at the opening of trading on July 2, 2013 under the symbol "FROT".  On July 2, 2103, the Company's stock symbol changed from "AWSS" to "FROT" to better reflect the new name of the Company.

The Company is an oil and gas technology company that specializes in identifying and accessing additional petroleum reserves that are usually left in the ground.  The Company's value proposition is extracting new resources from wells that have been assessed as uneconomic.  Most of the Company's projects will evolve depleted or low producing assets.  Assets are stimulated utilizing Terra Slicing Technology ("TST") for maximum effectiveness and productivity, essentially revitalizing the pre-existing well and establishing a flow rate with a significant percentage of its initial production.  Alternatively, TST may be utilized as part of a workover project or procedure.

2. Summary of significant accounting policies

Basis of presentation

The accompanying unaudited consolidated financial statements and related notes have been prepared by management in accordance with accounting principles generally accepted in the United States of America and with the rules and regulations of the Securities and Exchange Commission to Form 10-Q and Article 8 of Regulation S-X.  These unaudited consolidated interim statements should be read in conjunction with the consolidated financial statements of the Company for the year ended February 28, 2015 and notes thereto contained in the information as part of the Company's Annual Report on Form 10-K filed with the SEC on June 15, 2015.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.   In the opinion of management, the unaudited consolidated interim financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are necessary to present fairly the financial position and the results of operations for the interim periods presented herein.  Unaudited interim results are not necessarily indicative of the results for the full year, or any other period.

Use of estimates

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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

9

Falconridge Oil Technologies Corp.

Notes to Consolidated Financial Statements

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

2. Summary of significant accounting policies (cont'd)

Fair value of financial instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below:

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data.

The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable, and accrued expenses, approximate their fair values because of the short maturity of these instruments.

The derivative liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical quoted market prices for the Company's common stock, and are classified within Level 3 of the valuation hierarchy.

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of August 31, 2015.

	Level 1		Level 2		Level 3
Derivative liabilities	$	-	$	-	$	423,698

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of February 28, 2015.

	Level 1		Level 2		Level 3
Derivatives liabilities	$	-	$	-	$	369,344

10

Falconridge Oil Technologies Corp.

Notes to Consolidated Financial Statements

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

3. Going concern

As shown in the accompanying financial statements, the Company has an accumulated deficit of $2,557,073 since inception, a stockholders' deficit of $1,633,400 at August 31, 2015 and a working capital deficit of $1,702,342.  These conditions among others, raise substantial doubt as to the Company's ability to continue as a going concern.  In response to these conditions, we may raise additional capital through the sale of equity securities, through an offering of debt securities or through borrowings from financial institutions or individuals.  The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

4. Loans Payable - related parties

First World Trade Corporation (“FWT”) is a company controlled by a shareholder of the Company.  As at August 31 2015 and February 28, 2015, FWT has advanced the Company $1,109,589 and $1,170,275 respectively) to fund operating costs and shared expenses, the loan is non-interest bearing and without specific terms of repayment.

As of August 31, 2015 and February 28, 2015, the Company owed accounts payables to related parties of $118,322 and $133,421l respectively.

5. Convertible notes payable

During the period ended August 31, 2015, the Company issued the following convertible note payable.

The Company has determined that it needs to account for the Convertible Note Payable issued as derivative liabilities and apply the provisions of ASC 815.

EMA Financial LLC $100,000 bearing interest at 12% per annum and matures April 15, 2016.  The note may be prepaid up to 180 days from the date of issue with a prepayment of 135% depending on date of prepayment and is Convertible into common shares at 60% of the lowest trading price for the 20 days prior to giving notice of conversion.  The Company received $100,000 on issuance.  The Company recorded  a debt discount related to the day 1 fair value of the derivative liability of $100,000.

The Company recorded amortization of debt discount expense of $75,420 during the period for these notes.

A summary of the activity of Convertible Notes payable is shown below.

Total convertible notes	$	466,250
Discount on notes		(359,656	)
Net convertible notes	$	106,594

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Falconridge Oil Technologies Corp.

Notes to Consolidated Financial Statements

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

6. Derivative liabilities

The Company has determined that it needs to account for the Convertible Notes Payable issued as derivative liabilities and apply the provisions of ASC 815.

The Company records the fair value of the of the conversion price of the convertible notes disclosed in Note 6 in accordance with ASC 815, Derivatives and Hedging. The fair value of the derivative was calculated using a multi-nominal lattice model performed by an independent qualified business valuator. The fair value of the derivative liability is revalued on each balance sheet date with corresponding changes in fair value recorded in the consolidated statement of operations. During the period ended August 31, 2015, the Company recorded a gain on the change in fair value of derivative liability of $52,490 (2014 - $0).  At August 31, 2015 the Company recorded a derivative liability of $423,698 (2014 - $0).

For the lattice options pricing model that values the compound embedded derivatives based on a probability weighted discounted cash flow model.  The Convertible Note derivative issued April 16, 2015 was valued as of inception and as of August 31, 2015.  The following assumptions were used for the valuation of the derivative liability related to the April 16, 2015 Note:

The stock price (decreasing from $1.15 to $0.018 in this period which significantly increased the liability) would fluctuate with the Company’s projected volatility;

An event of default for the Convertible Note would occur 0% of the time, increasing 1.00% per month to a maximum of 10%;

Alternative financing for the Convertible Note would be initially available to redeem the note 0% of the time and increase monthly by 2% to a maximum of 10%;

The monthly trading volume would average $5,399,150 to $599,618 and increase at 1% per month;

The variable conversion prices ranging from 60% to 65% of the trading prices over 20 trading days have effective discount rates of 57.15% to 52.70%;

The Note Holders would automatically convert the notes with variable conversion prices if the registration was effective and the company not in default;

The Company recorded the excess fair value of the derivative liability above the proceeds of $13,814 as interest expense.

12

Falconridge Oil Technologies Corp.

Notes to Consolidated Financial Statements

For the Six Months Ended August 31, 2015 and 2014

(Unaudited)

7. Stockholders' equity

Common stock

On March 16, 2015, the Company entered into a consulting agreement with Dominic Johnny Calabrigo (“Calabrigo”).  Calabrigo is to be compensated with 4,840,000 Common Shares of the Company.  The agreement expires on December 25, 2015  On April 10, 2015, the Company issued 2,440,000 common shares, with a fair value of $73,200 and on May 6. 2015 the Company issued 2,400,000 common shares with a fair value of $55,200  to Domenic Calabrigo pursuant to the consulting agreement.

As of February 28, 2015, the Company has entered into an agreement with Empire State Financial Inc. (“Empire”) whereupon the Company would compensate Empire for arranging financing for the Company with 27,500 common shares.  The fair value of the common shares of $11,000 has been recorded as a stock payable liability as of February 28, 2015.  The common shares were issued on March 22, 2015.

During the period, the holders of the convertible notes payable converted $7,500 of notes in exchange for 3,215,453 common shares.

8. Subsequent events

Management has evaluated subsequent events through the date these financial statements were available to be issued.  Based on this evaluation, no material events have occured that require recognition or disclosure to the financial statements.

In September 2015, the holders of the convertible notes payable converted $35,400 of notes in exchange for 26,540,005 common shares.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD LOOKING STATEMENTS

This quarterly report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

Our unaudited interim consolidated financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this quarterly report.

In this quarterly report, unless otherwise specified, all dollar amounts are expressed in United States dollars. All references to “US$” refer to United States dollars and all references to “common stock” refer to the common shares in our capital stock.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean Falconridge Oil Technologies Corp., and our wholly owned subsidiary, Falconridge Oil Ltd., an Ontario, Canada corporation, unless otherwise indicated.

Corporate Background

We were incorporated on May 30, 2007 under the name Ameriwest Minerals Corp. On December 23, 2010, we changed our name to Ameriwest Petroleum Corp. by way of a merger with our wholly-owned subsidiary Ameriwest Petroleum, which was formed solely for the change of name. We were an exploration stage corporation. Our company carried out the first phase of exploration on the Key 1-4 Mineral Claims, SW Goldfield Hills Area, Esmeralda County, Nevada, USA. The results of Phase I were not promising and management determined it was in the best interests of the shareholders to abandon the property and we allowed the claim to lapse in September 2009.

On November 4, 2009, our company signed a letter of intent with Suntech Energy of British Columbia to establish the basic terms to be used in a future asset purchase between our company and Suntech Energy. The agreement was to become effective on or before March 31, 2010. The letter of intent expired without having concluded the agreement.

On November 13, 2009, our company purchased a bioreactor pod to use in a test process. As of November 30, 2010, our company had not been able to take possession and implement the testing of the bioreactor pod due to legal problems the manufacturer was experiencing. Our company therefore felt it was appropriate to write off the asset during the period ended November 30, 2010.

14

On June 20, 2013, we entered into a letter of intent for a share exchange transaction and acquisition with Falconridge Oil Ltd., an Ontario, Canada corporation, and its shareholders. Pursuant to the terms of the agreement, we agreed to acquire all 100 issued and outstanding shares of Falconridge Ontario’s common stock in exchange for the issuance by our company of 29,250,000 shares of our common stock to the shareholders of Falconridge Ontario.

Effective July 2, 2013, in accordance with approval from the Financial Industry Regulatory Authority (“FINRA”), we changed our company’s name from “Ameriwest Petroleum Corp.” to “Falconridge Oil Technologies Corp.” by way of a merger with our wholly-owned subsidiary Falconridge Oil Technologies Corp., which was formed solely for the change of name.

The name change became effective with the OTCBB at the opening of trading on July 2, 2013 and our stock symbol changed from “AWSS” to “FROT” to better reflect the new name of our company.

On August 2, 2013, we entered into a share exchange agreement with Falconridge Ontario and its shareholders. Pursuant to the terms of the share exchange agreement, we agreed to acquire all 100 issued and outstanding shares of Falconridge Ontario’s common stock in exchange for the issuance by our company of 29,250,000 shares of our common stock to the shareholders of Falconridge Ontario.

Further, pursuant to the share exchange agreement, we are required to:

(a)   provide to Falconridge Ontario a financing of debt or equity for $1,100,000, which is to close no later than 150 days from the closing of the share exchange and on mutually agreeable terms (completed);

(b)   complete a private placement of an aggregate of $400,000 at $1.50 per share (for the purposes of furthering the business of Falconridge Ontario) (completed); and

(c)   complete an equity financing, using our commercially best efforts, of up to $6,000,000 for 4,000,000 units at a price of no less than $1.50 per unit. Each unit will consist of one common share in our capital stock and one-half of one whole warrant (each one whole warrant, a “Financing Warrant”). Each Financing Warrant shall be exercisable into one share of our common stock at a price of no less than $3.00 per share for a period of 24 months from the date of issuance of the Financing Warrants. As a term to the equity financing, any party, who is successful in raising funds, with respect to the equity financing, from a private investor shall earn a cash commission of 7% and a commission of 5% payable in warrants (each, a “Commission Warrant”). Each Commission Warrant shall have the same terms as the Financing Warrants. If we are unable to complete the equity financing, then we may offer to Falconridge Ontario to complete a financing of up to $6,000,000 that may include debt, preferred shares of our company or a combination of the foregoing.

We may be unable to secure any debt or equity financing on terms acceptable to us, or at all, at the time when we need such funding. Additionally, although we agreed to complete the above financings, where we are unable to complete any of the financings in the agreement, there will not be any real consequences on the parties of the agreement. The value of the agreement to provide such financings is the use of commercially best efforts to fulfill the financings and demonstrating the need for financings to occur for our business to be successful.

On August 2, 2013, we closed the share exchange by issuing the required 29,250,000 common shares to the shareholders of Falconridge Ontario. As a result of the share exchange, Falconridge Ontario is now the wholly-owned subsidiary of our company. Concurrently, and as a condition to closing the share exchange agreement, Mr. Muran cancelled 18,000,000 shares of our common stock. He received no consideration for the cancellation of his stock.

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In connection with the share exchange agreement, we adopted a stock option plan on August 2, 2013 to issue options to purchase up to 10% of the issued and outstanding of our capital stock when the share exchange closed, being 4,875,000 shares, to our board members and management, at an exercise price of $1.50 per share or higher. When the options are granted, they will vest quarterly over two years from the date of grant and shall expire 24 months from vesting.

Additionally, effective August 2, 2013, we changed our fiscal year end to February 28.

As a result of the closing of the share exchange agreement with Falconridge Ontario, Falconridge Ontario has become our wholly-owned subsidiary and we now carry on business in the Province of Ontario, Canada.Our company has generated only minimal revenue.

On February 20, 2015, we filed a Certificate of Amendment with the Nevada Secretary of State to create 450,000,000 shares of preferred stock, par value $0.001.  The Certificate of Amendment became effective with the Nevada Secretary of State on February 23, 2015.

On February 20, 2015, we filed a Certificate of Designation with the Nevada Secretary of State designating 10,000,000 shares of our preferred stock as Series A Preferred Stock, which series shall have certain designations and number thereof, powers, preferences, rights, qualifications, limitations and restrictions, in particular, it shall have the following voting rights:

Each share of Series A Preferred Stock shall entitle the holder to one (1) votes for each share of Series A Preferred Stock.  In any vote or action of the holders of the Series A Preferred Stock voting together as a separate class, each share of issued and outstanding Series A Preferred Stock shall entitle the holder thereof to one vote per share. The holders of Series A Preferred Stock shall vote together with the shares of Common Stock as one class. The holders of the Series A Preferred Stock shall share ratably, with the holders of common stock, in any dividends that may, from time to time may be declared by the board of directors.  The holders of the Series A Preferred Stock shall rank pari passu with the holders of common stock in respect of all rights in liquidation, dissolution or winding up with all of said assets being distributed among the holders of the Series A Preferred Stock and other classes of stock ranking pari passu with the Series A Preferred Stock.  The holders of the Series A Preferred Stock shall have the right to convert at any time all or any portion of the shares of Series A Preferred Stock held by such person into a number of fully paid and nonassessable shares of Common Stock equal to 1,000 (one thousand) shares of Common Stock for each 1 (one) share of Series A Preferred Stock being converted (the “Conversion Ratio”), provided that the Company has a sufficient number of authorized shares of Common Stock for such conversion.

Our administrative office is located at 17-120 West Beaver Creek Rd., Richmond Hill, Ontario, Canada L4B 1L2. Our fiscal year end is February 28.

Business Overview

We are an oil and gas technology company that specializes in identifying and accessing additional petroleum reserves that are usually left in the ground. Our value proposition is extracting new resources from wells that have been assessed as uneconomic. Most of our projects will involve depleted or low producing assets. Assets are stimulated utilizing Terra Slicing Technology (“TST”) for maximum effectiveness and productivity, essentially revitalizing the pre-existing well and establishing a flow rate with a significant percentage of its initial production. Alternatively, TST may be utilized as part of a workover project or procedure.

Using the TST, our company offers operators a lower-cost alternative to drilling a new well, by accessing hydrocarbons currently in the ground within existing low or non-producing wells.

Our goal is to shift the industry and social paradigm away from new drilling and towards increasing efficiency of current extraction in existing well-bores to increase recovery of oil and gas. Thus, when widely applied, TST can add significant reserves to the energy resources of the world.

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To date we have performed our TST services on only two wells. The Admiralty well continues to perform and is declining in production as expected. The SEG Well 6-21 Nipisi continues to have an extremely high water cut. The operator is continuing to pump the well aggressively on the hope that the water cut will decline and profitable oil production will result. We will revisit this situation at the end of the year.

We will finance projects involving the enhancement and stimulation of pre-existing oil and gas assets such as:

·   Producing well assets;

·   Dead wells;

·   Non-performing well assets; and

·   Low yield assets.

Most projects involve depleted or low producing assets. Assets are stimulated utilizing TST technology for maximum effectiveness and productivity, essentially revitalizing the per-existing well and establishing a flow rate with a significant percentage of its initial production. Alternatively, TST may be utilized as part of a workover project or procedure. We are the exclusive agents of TST in the United Arab Emirates and the exclusive marketing principal of TST globally, with non-exclusive rights to TST in any geographical region, country, or territory that does not infringe on the territorial rights of any other exclusive arrangement for TST that does not involve us. Further, we may only implement TST in certain areas around the world where we have a revenue interest in a property for which TST is applied (e.g. a gross over-riding royalty, override, working interest, revenue share, or share in some form of the hydrocarbon extraction from the property, contract, lease, or client).

Capital outlay and availability will be variable per project. Our intended business plan is to operate as an enhancement company and take a revenue interest in properties for which TST is applied as repayment as well as an interest in the form of a gross over-riding royalty on the producing asset. By applying TST, an operator will retrieve a significant portion of the well reserves still locked in the ground.

Our company assumes a financial risk in the process, with no capital outlay required by the asset holder or lease owner. Hence if there is no productivity, we bear the cost. To the well owner, this is a strong value proposition as we are taking an existing non-performing asset, and converting it to a cash flowing asset.

The financial risk we assume is part of our capital program to oil and gas well owner/operators. We understand that many operators cannot afford EORT (enhanced oil recovery techniques) despite the fact that they have assets that could perform at higher levels. Our program is made available to selected clients only after a detailed engineering and geological review of their asset. If it is confirmed that there will be a significant increase in production, then we enter into an agreement with the operator where in return for a GORR (gross overriding royalty) we will provide all the capital necessary to apply the TST technology to their asset. We assume all the financial risk. There will be significant covenants in our agreement with our client, such as the right to audit and the right to replace the operator should we ascertain a default in the agreement. Our program is designed to ensure capital repayment from the GORR within 12 months and then a cashflow uninhibited by operational costs of the well operator for the life of the well.

TST has been designed for deployment in virtually all environments and applications in the oil and gas industry. TST is designed to be applicable on land, or marine environments, and for both oil and gas well applications, in vertical or horizontal formats.

On February 17, 2011, Falconridge Ontario entered into an agreement with Meadowbank Asset Management Inc. Pursuant to this agreement, Meadowbank will attempt to source properties for the implementation of our technology. As a term to the agreement, Falconridge Ontario agreed to remunerate Meadowbank where:

1.   Falconridge Ontario is required to finance the technology implementation, then Meadowbank will be entitled to 10% of total gross revenue earned by Falconridge from the establishment of relationships and target from Meadowbank after initial expenses of enhancement or implementation are recovered from the property; or

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2.   Falconridge Ontario is not required to finance the technology implementation, then Meadowbank will be entitled to:

a.       20% of total gross revenue earned by Falconridge from the establishment of relationships and target from Meadowbank; and

b.       10% of any up-front fees charged for the implementation of the technology.

In October 2011, Falconridge Ontario contracted with a third party to perform a workover of a well using TST. As payment, we received a royalty interest upon completion in February 2012. The value of the royalty interest obtained was fair valued based on our reserve report, which was deemed to be $128,990. We accounted for this royalty interest received as service revenues and capitalized the amount as oil and gas property. Falconridge performed its services on a second well in December of 2013. Our technology again proved its ability to slice into the formation with significant success. However, despite the successful demonstration of the TST’s ability, the well, to date, has produced a significant amount of water.

On October 1, 2012, we entered into a licensing agreement with HydroSlotter Corporation of Canada (“HSC”). Pursuant to this agreement, we became the exclusive marketing agent for TST from HSC in the United Arab Emirates. Additionally, we are the exclusive marketing principal throughout the world of TST in any region that HSC does not already have exclusive arrangements for. In consideration of these rights, we paid a fee to HSC.

After a term of 14 months, this agreement was to terminate with 30 days of advance notice. As of December 1, 2013, this agreement was renewed by mutual consent and signature by both parties and continues on a year to year basis as neither party received notice of termination of this agreement. Pursuant to the agreement, HSC and our company signed a letter of renewal dated April 17, 2014 to evidence mutual consent to extend the license agreement until December 31, 2014 and has subsequently extended the agreement to December 31, 2015.

On October 15, 2014, we entered into an agreement with LiveCall Investor Relations Company. Pursuant to this agreement, LiveCall is to provide us with investor relation services for a term of three months. In exchange for the services provided by LiveCall, we are to compensate LiveCall with an initial non-refundable fee of $7,500 and $2,500 per month. The term of this agreement will be automatically extended on a monthly basis after the term of three months unless 30 days of written notice is given by either party.

Results of Operations

Three and Six Month Periods Ended August 31, 2015 Compared to the Three and Six Month Periods Ended August 31, 2014.

The following summary of our results of operations should be read in conjunction with our financial statements for the three and six months ended August 31, 2015 and 2014.

Expenses

Our operating expenses for the three and six months ended August 31, 2015 and 2014 are summarized as follows:

	Three Months Ended August 31,				Six Months Ended August 31,
	2015		2014		2015		2014
Oil & Gas Revenue	$	3,460	$	1,497	$	5,211	$	7,820
General and administrative expenses	$	223,911	$	55,038	$	293,315	$	113,064
Depreciation, Amortization and Depletion	$	2,724	$	2,291	$	3,276	$	5,482
Amortization of deferred finance costs	$	25,600	$	Nil	$	51,200	$	Nil
Change in fair value of derivative liability	$	217,218	$	Nil	$	52,490	$	Nil
Interest Expense	$	53,977	$	2,000	$	100,800	$	4,000
Net Loss	$	85,534	$	57,833	$	390,890	$	114,726

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Our net loss for the three months ended August 31, 2015 was $85,534 compared to a net loss of $57,833 during the three months ended August 31, 2014.

Our net loss for the six months ended August 31, 2015 was $390,890 compared to a net loss of $114,726 during the six months ended August 31, 2014.

During the three months ended August 31, 2015, we incurred operating expenses of $226,635 compared to operating expenses of $57,330 during the three months ended August 31, 2014.  The increases in operating expenses were generally related to increases in expenditures for general and administrative purposes.

During the six months ended August 31, 2015, we incurred operating expenses of $296,591 compared to operating expenses of $118,546 during the six months ended August 31, 2014. The increase in operating expenses were generally related to increased spending on general and administrative purposes.

Our net loss during the three months ended August 31, 2015 and 2014 was $0.01 per share and $0.01, respectively. The weighted average number of shares outstanding was 53,327,358 for the three month period ended August 31, 2015.

Our net loss during the six months ended August 31, 2015 and 2014 was $0.01 per share and $0.01, respectively. The weighted average number of shares outstanding was 53,327,358 for the six month period ended August 31, 2015.

Liquidity and Capital Resources

Working Capital

	August 31, 2015			February 28, 2015
Current Assets	$	303,818		$	344,047
Current Liabilities	$	2,006,160		$	1,982,051
Working Capital	$	(1,702,342	)	$	(1,638,004	)

As of August 31, 2015, our current assets were $303,818 and our current liabilities were $2,006,160 which resulted in a working capital deficit of $1,702,342. As of August 31, 2015, current assets were comprised of $201,947 in cash and $7,797 in accounts receivable compared to $233,551 in cash, $2,714 in accounts receivable and $11,808 in prepared and other current assets at February 28, 2015. As of August 31, 2015, current liabilities were comprised of $136,331 in accounts payable, $41,646 in accrued liabilities, $1,109,589 in loans from related parties and $70,000 in loans payable.

Cash Flows

	Six Months ended August 31, 2015			Six Months ended August 31, 2014
Cash Flows from (used in) Operating Activities	$	(212,029	)	$	(25,818	)
Cash Flows from (used in) Investing Activities	$	Nil		$	Nil
Cash Flows from (used in) Financing Activities	$	93,500		$	Nil
Net Increase (decrease) in Cash During Period	$	(31,704	)	$	(25,818	)

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Cash Flows from Operating Activities

We have not generated positive cash flows from operating activities. For the six month period ended August 31, 2015, net cash flows used in operating activities was $212,029 consisting of a net loss of $390,890 and was  offset by changes in operating assets and liabilities (depreciation, amortization and depletion, accounts receivable and accounts payable and accrued liabilities). For the six month period ended August 31, 2014, net cash flows used in operating activities was $25,818 consisting of a net loss of $114,726 and was  offset by changes in operating assets and liabilities (depreciation, amortization and depletion, accounts receivable and accounts payable and accrued liabilities).

Cash Flows from Investing Activities

For the six months ended August 31, 2015 and August 31, 2014 we did not have any investing activities.

Cash Flows from Financing Activities

We have financed our operations primarily from loans with related parties, the issuance of equity and debt instruments. For the six months ended August 31, 2015, we generated $93,500 from financing activities. For the six months ended August 31, 2014, we generated $Nil from financing activities.

We will require additional funds to fund our budgeted expenses over the next 12 months. These funds may be raised through, equity financing, debt financing, or other sources, which may result in further dilution in the equity ownership of our shares.

Plan of Operation

We are now investigating other properties on which exploration could be conducted and other business opportunities to enhance shareholder value. If we are unable to find another property or business opportunity, our shareholders will lose some or all of their investment and our business will likely fail.

Going Concern

There is significant doubt about our ability to continue as a going concern.

As shown in the accompanying financial statements, the Company has an accumulated deficit of $2,557,073 since inception, a stockholders' deficit of $1,633,400 at August 31, 2015 and a working capital deficit of $1,702,342.  These conditions among others raise substantial doubt as to the Company's ability to continue as a going concern.  In response to these conditions, we may raise additional capital through the sale of equity securities, through an offering of debt securities or through borrowings from financial institutions or individuals.  The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

Cash Requirements

We anticipate that our expenses over the next 12 months (beginning September 2015) will be approximately $2,744,000 as described in the table below. These estimates may change significantly depending on the nature of our business activities and our ability to raise capital from our shareholders or other sources.

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Over the next 12 months we intend to carry on business as an enhanced oil and gas technology company. We anticipate that we will incur the following operating expenses during this period:

Estimated Funding Required During the Next 12 Months

Expense	Amount ($)
Consulting Fees for Research and Development		Nil
Engineering		2,000,000
Fixed asset purchases		15,000
Management Consulting Fees		300,000
Professional fees		180,000
Rent		55,000
Sales, Travel and Marketing		120,000
Other general administrative expenses		74,000
Total		2,744,000

We will require funds of approximately $2,744,000 over the next twelve months to operate our business. These funds may be raised through equity financing, debt financing, or other sources, which may result in further dilution in the equity ownership of our shares. There is no assurance that we will be able to maintain operations at a level sufficient for an investor to obtain a return on their investment in our common stock. Further, we may continue to be unprofitable.

Purchase of Significant Equipment

We do not intend to purchase any significant equipment during the next twelve months.

Contractual Obligations

As a “smaller reporting company”, we are not required to provide tabular disclosure obligations.

Inflation

Inflation and changing prices have not had a material effect on our business and we do not expect that inflation or changing prices will materially affect our business in the foreseeable 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 or capital expenditures or capital resources that is material to an investor in our securities.

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Seasonality

Our operating results and operating cash flows historically have not been subject to seasonal variations. This pattern may change, however, in the event that we succeed in bringing our technology to market and acquire oil and gas assets.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are an exploration stage corporation and have not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of our properties, and possible cost overruns due to price and cost increases in services.

To become profitable and competitive, we must conduct the research and exploration of our properties before we start production of any minerals we may find. We sought equity financing to provide for the capital required to implement our research and exploration phases. We believe that the funds raised from our offering will allow us to operate for one year.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.

Critical Accounting Policies

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires our management to make assumptions, estimates and judgments that affect the amounts reported, including the notes thereto, and related disclosures of commitments and contingencies, if any. We have identified certain accounting policies that are significant to the preparation of our financial statements. These accounting policies are important for an understanding of our financial condition and results of operation. Critical accounting policies are those that are most important to the portrayal of our financial conditions and results of operations and require management’s difficult, subjective, or complex judgment, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Certain accounting estimates are particularly sensitive because of their significance to financial statements and because of the possibility that future events affecting the estimate may differ significantly from management’s current judgments. A complete summary of these policies is included in the notes to our quarterly report, included herein.

Basis of presentation

The accompanying unaudited consolidated financial statements and related notes have been prepared by management in accordance with accounting principles generally accepted in the United States of America and with the rules and regulations of the Securities and Exchange Commission to Form 10-Q and Article 8 of Regulation S-X.  These unaudited consolidated interim statements should be read in conjunction with the consolidated financial statements of the Company for the year ended February 28, 2015 and notes thereto contained in the information as part of the Company's Annual Report on Form 10-K filed with the SEC on June 15, 2015.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.   In the opinion of management, the unaudited consolidated interim financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are necessary to present fairly the financial position and the results of operations for the interim periods presented herein.  Unaudited interim results are not necessarily indicative of the results for the full year, or any other period.

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Use of estimates

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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair value of financial instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below:

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data.

The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable, and accrued expenses, approximate their fair values because of the short maturity of these instruments.

The derivative liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical quoted market prices for the Company's common stock, and are classified within Level 3 of the valuation hierarchy.

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of August 31, 2015.

	Level 1		Level 2		Level 3
Derivative liabilities	$	-	$	-	$	423,698

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of February 28, 2015.

	Level 1		Level 2		Level 3
Derivatives liabilities	$	-	$	-	$	369,344

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As of  August 31, 2015 and 2014 the Company had a derivative liability amount of $423,698 and $0 respectively which was classified  as a Level 3 financial instrument, and a gain on change in fair value of derivative liabilities of  $52,490 and  $0 for the six months ended August 31, 2015 and August 31, 2014 respectively.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Management’s Report on Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our president (our principal executive officer) and chief financial officer (our principal financial officer and principal accounting officer) to allow for timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with the participation of our president (our principal executive officer) and chief financial officer (our principal financial officer and principal accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our president (our principal executive officer) and chief financial officer (our principal financial officer and principal accounting officer) concluded that our disclosure controls and procedures were not effective in providing reasonable assurance in the reliability of our reports as of the end of the period covered by this quarterly report.

Changes in Internal Control over Financial Reporting

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

We know of no material, active or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

Item 1A. Risk Factors

As a “smaller reporting company”, we are not required to provide the information required by this Item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

In September 2015, the holders of the convertible notes payable converted $35,400 of notes in exchange for 26,540,005 common shares.

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On February 7, 2014, our company entered into a management agreement (the “Pelliance ManagementAgreement”) with Mark Pellicane (“Pellicane”), whereby Pellicane agreed to provide services customarily provided by his profession to our company in exchange for compensation in the aggregate amount of $7,500 per month (the “Pellicane Compensation”).

Concurrently, our company entered into a management agreement (the “MorraManagementAgreement”) with Alfred Morra (“Morra”), whereby Morra agreed to provide services customarily provided by his profession to our company in exchange for compensation in the aggregate amount of $7,500 per month (the “MorraCompensation”).

On August 6, 2015, we entered into amending agreement dated August 6, 2015 (the “Pellicane Amending Agreement”) with Pellicane, to amend the Pellicane Management Agreement whereby the parties agreed that all and any part of the accrued Pellicane Compensation may be converted into Series A Preferred Stock of our company at a deemed value of $0.0025 per preferred share in the sole discretion of Pellicane.

Concurrently, Pellicane notified our company of his election to convert an aggregate of $9,600 of debt owed to Pellicane from our company under the Pellicane Management Agreement into an aggregate of 3,840,000 Series A Preferred Stock (the “Pellicane Shares”) pursuant to the Pellicane Amending Agreement.

On August 6, 2015, we entered into amending agreement (the “MorraAmending Agreement”) with Morra, to amend the Morra Management Agreement whereby the parties agreed that all and any part of the accrued Morra Compensation may be converted into Series A Preferred Stock of our company at a deemed value of $0.0025 per preferred share in the sole discretion of Morra.

Concurrently, Morra notified our company of his election to convert an aggregate of $9,600 of debt owed to Morra from our companyof under the Morra Management Agreement into an aggregate of 3,840,000 Series A Preferred Stock (the “MorraShares”) pursuant to the Morra Amending Agreement.

As our company is indebted to First World Trade Corp. (“FWT”) for an aggregate of $1,383,842 (the “Debt”), FWT and our company have agreed to settle an aggregate of $4,800 of the Debt for exchange of 1,920,000 Series A Preferred Stock issued by our company.

On October 7, 2015, Pellicane notified us of his election to convert an aggregate of 42,500 Series A Preferred Stock into 42,500,000 common shares of our company.  Concurrently, Morra notified us of his election to convert an aggregate of 42,500 Series A Preferred Stock into 42,500,000 common shares of our company.

On October 7, 2015, pursuant to the above conversions, we issued an aggregate of 85,000,000 common shares to two (2) non-US persons (as that term is defined in Regulation S of the Securities Act of 1933), in an offshore transaction relying on Regulation S of the Securities Act of 1933, as amended.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mining Safety Disclosures

Not applicable.

Item 5. Other Information

None.

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Item 6. Exhibits

Exhibit Number	Exhibit Description
(3)	Articles of Incorporation; Bylaws
3.1	Articles of Incorporation of Falconridge Oil Technologies Corp. (incorporated by reference to our Registration Statement on Form S-1 filed on October 14, 2008)
3.2	Bylaws of Falconridge Oil Technologies Corp. (incorporated by reference to our Registration Statement on Form S-1 filed on October 14, 2008)
3.3	Certificate of Change (incorporated by reference to our Current Report on Form 8-K filed on December 29, 2010)
3.4	Articles of Merger (incorporated by reference to our Current Report on Form 8-K filed on December 29, 2010)
3.5	Articles of Merger (incorporated by reference to our Current Report on Form 8-K filed on June 28, 2013)
(4)	Instrument Defining the Right of Holders, Including Indentures
4.1	Form of Share Certificate (incorporated by reference to our Current Report on Form 8-K filed on August 21, 2013)
(10)	Material Contracts
10.1	Services and Gross Overriding Royalty Agreement dated October 7, 2011 (incorporated by reference to our Amended Registration Statement on Form S-1/A #5 filed on July 22, 2014) **
10.2	Agreement between Falconridge Ontario and Meadowbank Asset Management Inc. dated February 17, 2011 (incorporated by reference to our Amended Registration Statement on Form S-1/A #2 filed on December 16, 2013)
10.3	License Agreement with HydroSlotter Corporation of Canada dated October 1, 2012 (incorporated by reference to our Amended Registration Statement on Form S-1/A #5 filed on July 22, 2014) **
10.4	Share Exchange Agreement among Falconridge Oil Technologies Corp., Falconridge Oil Ltd. and the Shareholders of Falconridge Oil Ltd. dated August 2, 2013 (incorporated by reference to our Amended Registration Statement on Form S-1/A filed on October 23, 2013)
10.5	2013 Stock Option Plan (incorporated by reference to our Current Report on Form 8-K filed on August 21, 2013)
10.6	Management Agreement dated February 7, 2014 between our company and Mark Pellicane (incorporated by reference to our Current Report on Form 8-K filed on March 31, 2014)
10.7	Management Agreement dated February 7, 2014 between our company and Alfred Morra (incorporated by reference to our Current Report on Form 8-K filed on March 31 , 2014)
10.8	Investor Relations Agreement dated October 15, 2014 between our company and LiveCall Investor Relations Company (incorporated by reference to our Current Report on Form 8-K filed on October 21, 2014)
10.9	Promissory Note dated December 29, 2014 between our company and Quezon Group LLC (incorporated by reference to our Current Report on Form 8-K filed on January 12, 2015)
10.10	Amending Agreement dated as of August 6, 2015 between our company and Alfred Morra (incorporated by reference to our Current Report on Form 8-K filed on October 8, 2015)
10.11	Amending Agreement dated as of August 6, 2015 between our company and Alfred Morra (incorporated by reference to our Current Report on Form 8-K filed on October 8, 2015)

26

(14)	Code of Ethics
14.1	Code of Ethics and Business Conduct (incorporated by reference to our Amended Annual Report on Form 10-K/A filed on June 16, 2014)
(31)	Rule 13a-14(a) / 15d-14(a) Certifications
31.1*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
31.2*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer and Principal Accounting Officer
(32)	Section 1350 Certifications
32.1*	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer
32.2*	Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of the Principal Financial Officer and Principal Accounting Officer
101*	Interactive Data Files
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

* Filed herewith.

** Certain parts of this document have not been disclosed and have been filed separately with the Secretary, Securities and Exchange Commission, and are subject to a confidential treatment request pursuant to Rule 406 of the Securities Exchange Act of 1933.

27

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	FALCONRIDGE OIL TECHNOLOGIES CORP.
Date: October 22, 2015	/s/ Mark Pellicane
	Mark Pellicane
	President, Chief Executive Officer and Director
	(Principal Executive Officer)
Date: October 22, 2015	/s/ Alfred Morra
	Alfred Morra
	Chief Financial Officer, Treasurer and Director
	(Principal Financial Officer and Principal Accounting Officer)

28

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Pellicane, certify that:

1.         I have reviewed this quarterly report on Form 10-Q/A of Falconridge Oil Technologies Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: October 22, 2015

/s/ Mark Pellicane

Mark Pellicane

President, Chief Executive Officer and Director

(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO

18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Alfred Morra, certify that:

1.         I have reviewed this quarterly report on Form 10-Q/A of Falconridge Oil Technologies Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: October 22, 2015

/s/ Alfred Morra

Alfred Morra

Chief Financial Officer, Treasurer and Director

(Principal Financial Officer and Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Mark Pellicane, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Quarterly Report on Form 10-Q/A of Falconridge Oil Technologies Corp. for the period ended August 31, 2015 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Falconridge Oil Technologies Corp.

Dated: October 22, 2015
	/s/ Mark Pellicane
	Mark Pellicane
	President, Chief Executive Officer and Director (Principal Executive Officer)
	Falconridge Oil Technologies Corp.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Falconridge Oil Technologies Corp. and will be retained by Falconridge Oil Technologies Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Alfred Morra, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the Quarterly Report on Form 10-Q/A of Falconridge Oil Technologies Corp. for the period ended August 31, 2015 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Falconridge Oil Technologies Corp.

Dated: October 22, 2015
	/s/ Alfred Morra
	Alfred Morra
	Chief Financial Officer, Treasurer and Director (Principal Financial Officer and Principal Accounting Officer)
	Falconridge Oil Technologies Corp.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Falconridge Oil Technologies Corp. and will be retained by Falconridge Oil Technologies Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Subsequent Transactions (Details)	Sep. 30, 2015 shares
Subsequent Transactions
Convertible notes payable converted notes in exchange for common shares	26,540,005
Convertible notes payable converted notes in exchange for common shares value	35,400

XML

Summary of significant accounting policies

6 Months Ended

Aug. 31, 2015

Summary of significant accounting policies:

Summary of significant accounting policies

2. Summary of significant accounting policies

Basis of presentation

The accompanying unaudited consolidated financial statements and related notes have been prepared by management in accordance with accounting principles generally accepted in the United States of America and with the rules and regulations of the Securities and Exchange Commission to Form 10-Q and Article 8 of Regulation S-X.  These unaudited consolidated interim statements should be read in conjunction with the consolidated financial statements of the Company for the year ended February 28, 2015 and notes thereto contained in the information as part of the Company's Annual Report on Form 10-K filed with the SEC on June 15, 2015.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.   In the opinion of management, the unaudited consolidated interim financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are necessary to present fairly the financial position and the results of operations for the interim periods presented herein.  Unaudited interim results are not necessarily indicative of the results for the full year, or any other period.

Use of estimates

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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair value of financial instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below:

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data.

The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable, and accrued expenses, approximate their fair values because of the short maturity of these instruments.

The derivative liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical quoted market prices for the Company's common stock, and are classified within Level 3 of the valuation hierarchy.

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of August 31, 2015.

	Level 1		Level 2		Level 3
Derivative liabilities	$	-	$	-	$	423,698

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of February 28, 2015.

	Level 1		Level 2		Level 3
Derivatives liabilities	$	-	$	-	$	369,344

XML

Incorporation and nature of operations

6 Months Ended

Aug. 31, 2015

Incorporation and nature of operations

Incorporation and nature of operations

1. Incorporation and nature of operations

Falconridge Oil Technologies Corp. (“the Company”) was incorporated on May 30, 2007 under the name Ameriwest Minerals Corp. on December 23, 2010, the Company changed its name to Ameriwest Petroleum Corp. by way of a merger with its wholly-owned subsidiary, Ameriwest Petroleum Corp., which was formed solely for the change of name.

Effective July 2, 2013, in accordance with approval from the Financial Industry Regulatory Authority ("FINRA"), the Company changed its name from "Ameriwest Petroleum Corp." to "Falconridge Oil Technologies Corp." by way of a merger with its wholly-owned subsidiary Falconridge Oil Technologies Corp., which was formed solely for the change of name.

The name change became effective with the OTCBB at the opening of trading on July 2, 2013 under the symbol "FROT".  On July 2, 2103, the Company's stock symbol changed from "AWSS" to "FROT" to better reflect the new name of the Company.

The Company is an oil and gas technology company that specializes in identifying and accessing additional petroleum reserves that are usually left in the ground.  The Company's value proposition is extracting new resources from wells that have been assessed as uneconomic.  Most of the Company's projects will evolve depleted or low producing assets.  Assets are stimulated utilizing Terra Slicing Technology ("TST") for maximum effectiveness and productivity, essentially revitalizing the pre-existing well and establishing a flow rate with a significant percentage of its initial production.  Alternatively, TST may be utilized as part of a workover project or procedure.

XML

Consolidated Balance Sheets (Unaudited) - USD ($)	Aug. 31, 2015	Feb. 28, 2015
Current
Cash	$ 201,947	$ 233,551
Accounts receivable	7,797	2,714
Prepaid and other current assets	42,800	11,808
Deferred finance costs, net of accumulated amortization of $25,600 and $0 respectively	51,274	95,974
Total current assets	303,818	344,047
Property & equipment net of accumulated depreciation of $3,937 and $3,436 respectively	2,070	2,809
Oil and gas properties net of accumulated depletion of $30,799 and $30,712 respectively	66,872	72,322
Total assets	372,760	419,178
Current
Accounts payable	136,311	147,389
Accounts payable related parties	118,322	133,421
Accrued liabilities	41,646	52,948
Loans payable - related parties	1,109,589	1,170,275
Derivative liability	423,698	369,344
Loan payable	70,000	70,000
Convertible notes payable, net of debt discount of $359,656 and $335,076 respectively	106,594	38,674
Total current liabilities	2,006,160	1,982,051
Total liabilities	2,006,160	1,982,051
STOCKHOLDERS' DEFICIT
Preferred stock $0.001 par value, 450,000,000 shares authorized 0 shares issued and outstanding	0	0
Common stock, $.001 par value, 450,000,000 shares authorized;57,213,569 and 49,130,616 shares issued and outstanding as of August 31, 2015 and February 28, 2015	57,214	49,131
Additional paid in capital	466,855	320,969
Accumulated Deficit	(2,557,173)	(2,166,283)
Accumulated other comprehensive income	399,704	233,310
Total stockholders' deficit	(1,633,400)	(1,562,873)
Total liabilities and stockholders' deficit	$ 372,760	$ 419,178

XML

Consolidated Statement of Stockholders' Deficit - 6 months ended Aug. 31, 2015 - USD ($)	Common Shares	Stock Amount	Additional Paid in Capital	Total Accumulated Deficit	Accumulated Comprehensive Income (loss)	Stockholders' Deficit
Balances at Feb. 28, 2015	49,130,616	49,131	320,969	(2,166,283)	280,509	(1,515,674)
Common stock issued	8,082,953	8,083	145,886	0	0	153,969
Currency translation adjustment	$ 0	$ 0	$ 0	$ 0	$ 119,195	$ 119,195
Net loss	$ 0	$ 0	$ 0	$ (390,890)	$ 0	$ (390,890)
Balances at Aug. 31, 2015	57,213,569	57,214	466,855	(2,557,173)	399,704	(1,633,400)

XML

Summary of Convertible Notes payable (Details)	Aug. 31, 2015 USD ($)
Summary of Convertible Notes payable
Total convertible notes	$ 466,250
Discount on notes	(359,656)
Net convertible notes	$ 106,594

XML

Common stock (Details) - USD ($)	Aug. 31, 2015	May. 06, 2015	Apr. 10, 2015	Mar. 16, 2015	Feb. 28, 2015
Common stock Details
Consulting agreement with Dominic Johnny Calabrigo compensated with Common Shares				4,840,000
Issued common shares		2,400,000	2,440,000
Issued common shares fair value		$ 55,200	$ 73,200
Areement with Empire State Financial Inc. compensated with Common Shares					27,500
Stock payable liability					$ 11,000
Convertible notes payable converted notes in exchange for common shares	3,215,453
Convertible notes payable converted notes in exchange for common shares value	7,500

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014
Cash flows from operating activities
Net Loss	$ (390,890)	$ (114,726)
Adjustment to reconcile net loss to net cash used in operations
Non-cash interest	89,233	0
Depreciation, amortization and depletion	3,276	5,482
Stock based compensation	85,600	0
Amortization of deferred finance costs	51,200	0
Change in fair value of derivative liability	(52,490)	0
Changes in working capital
Accounts receivable	(5,083)	1,279
Accounts payable and accrued liabilities	10,416	82,147
Prepaid and other current assets	11,808	0
Accounts payable - related parties	(15,099)	0
Net cash used in operating activities	(212,029)	(25,818)
Cash flows from financing activities
Proceeds from Convertible notes payable	100,000	0
Financing fees paid	(6,500)	0
Net cash provided by financing activities	93,500	0
Effect of foreign currency on cash	86,925	0
Net decrease change in cash	(31,604)	(25,818)
Cash, beginning of period	233,551	26,797
Cash, end of period	201,947	979
Supplemental disclosure of cash flow information:
Cash paid during the year for income taxes	0	0
Cash paid during the year for interest	0	0
Non-cash investing and financing disclosures:
Consulting fees via shares of common stock	128,400	0
Convertible debt repaid with common shares	7,500	0
Addition of derivative liability/debt discount	$ 113,814	$ 0

XML

Assets and liabilities carried at fair value measured on a recurring basis (Details) - USD ($)	Aug. 31, 2015	Feb. 28, 2015
Level 1
Level 1 Derivative liabilities	$ 0	$ 0
Level 2
Level 2 Derivative liabilities	0	0
Level 3
Level 3 Derivative liability	$ 423,698	$ 369,344

XML

Fair value of financial instruments (Tables)

6 Months Ended

Aug. 31, 2015

Schedule of fair value measured on a recurring basis

Schedule of fair value measured on a recurring basis

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of August 31, 2015.

	Level 1		Level 2		Level 3
Derivative liabilities	$	-	$	-	$	423,698

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of February 28, 2015.

	Level 1		Level 2		Level 3
Derivatives liabilities	$	-	$	-	$	369,344

XML

Document and Entity Information - shares	6 Months Ended
	Aug. 31, 2015	Oct. 16, 2015
Document and Entity Information:
Entity Registrant Name	Falconridge Oil Technologies Corp.
Entity Trading Symbol	frot
Document Type	10-Q
Document Period End Date	Aug. 31, 2015
Amendment Flag	true
Entity Central Index Key	0001401859
Current Fiscal Year End Date	--02-28
Entity Common Stock, Shares Outstanding		186,295,240
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Amendment Description	Amendment No. 1

XML

Convertible Notes payable (Tables)

6 Months Ended

Aug. 31, 2015

Schedule of Convertible Notes Payable

Schedule of Convertible Notes Payable

A summary of the activity of Convertible Notes payable is shown below.

Total convertible notes	$	466,250
Discount on notes		(359,656	)
Net convertible notes	$	106,594

XML

Consolidated Balance Sheets Parentheticals - USD ($)	Aug. 31, 2015	Feb. 28, 2015
Parentheticals
Property & equipment accumulated depreciation	$ 3,937	$ 3,436
Oil and gas properties accumulated depreciation	30,799	30,712
Deferred finance costs, net of accumulated amortization	25,600	0
Convertible notes payable, net of debt discount	$ 359,656	$ 335,076
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	450,000,000	450,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	450,000,000	450,000,000
Common Stock, shares issued	57,213,569	49,130,616
Common Stock, shares outstanding	57,213,569	49,130,616

XML

Convertible notes payable

6 Months Ended

Aug. 31, 2015

Convertible notes payable

Convertible notes payable

5. Convertible notes payable

During the period ended August 31, 2015, the Company issued the following convertible note payable.

The Company has determined that it needs to account for the Convertible Note Payable issued as derivative liabilities and apply the provisions of ASC 815.

EMA Financial LLC $100,000 bearing interest at 12% per annum and matures April 15, 2016.  The note may be prepaid up to 180 days from the date of issue with a prepayment of 135% depending on date of prepayment and is Convertible into common shares at 60% of the lowest trading price for the 20 days prior to giving notice of conversion.  The Company received $100,000 on issuance.  The Company recorded  a debt discount related to the day 1 fair value of the derivative liability of $100,000.

The Company recorded amortization of debt discount expense of $75,420 during the period for these notes.

A summary of the activity of Convertible Notes payable is shown below.

Total convertible notes	$	466,250
Discount on notes		(359,656	)
Net convertible notes	$	106,594

XML

Loans Payable - related parties

6 Months Ended

Aug. 31, 2015

Loans Payable - related parties

Loans Payable - related parties

4. Loans Payable - related parties

First World Trade Corporation (“FWT”) is a company controlled by a shareholder of the Company.  As at August 31 2015 and February 28, 2015, FWT has advanced the Company $1,109,589 and $1,170,275 respectively) to fund operating costs and shared expenses, the loan is non-interest bearing and without specific terms of repayment.

As of August 31, 2015 and February 28, 2015, the Company owed accounts payables to related parties of $118,322 and $133,421l respectively.

XML

Derivative Liabilities (Details) - USD ($)	Aug. 31, 2015	Aug. 31, 2014
Derivative Liabilities Details
Change in fair value of derivative liability	$ 52,490	$ 0
Company recorded a derivative liability	$ 423,698	$ 0
Stock price decreasing from 1.15 to	$ 0.018
Convertible Note would occur of the time	0.00%
Convertible Note increasing 1.00% per month to a maximum	10.00%
Convertible Notes initially available to redeem note of the time	0.00%
Alternative financing for the Convertible Notes increase monthly by 2% to a maximum of	10.00%
Monthly trading volume average 5,399,150 to	$ 599,618
Trading volume increase per month	1.00%
Variable conversion prices ranging from 60% to over 20 trading days	65.00%
Effective discount rates 52.35% to	52.70%
Company recorded the excess fair value of the derivative liability above the proceeds as interest expense	$ 13,814

XML

Going concern (Details)	Aug. 31, 2015 USD ($)
Going concern Details
Accumulated deficit	$ 2,557,073
Stockholders' deficit	1,633,400
Working capital deficit	$ 1,702,342

XML

Subsequent Events

6 Months Ended

Aug. 31, 2015

Subsequent Events

Subsequent Events

8. Subsequent events

Management has evaluated subsequent events through the date these financial statements were available to be issued.  Based on this evaluation, no material events have occured that require recognition or disclosure to the financial statements.

In September 2015, the holders of the convertible notes payable converted $35,400 of notes in exchange for 26,540,005 common shares.

XML

Derivative liabilities

6 Months Ended

Aug. 31, 2015

Derivative liabilities

Derivative liabilities

6. Derivative liabilities

The Company has determined that it needs to account for the Convertible Notes Payable issued as derivative liabilities and apply the provisions of ASC 815.

The Company records the fair value of the of the conversion price of the convertible notes disclosed in Note 6 in accordance with ASC 815, Derivatives and Hedging. The fair value of the derivative was calculated using a multi-nominal lattice model performed by an independent qualified business valuator. The fair value of the derivative liability is revalued on each balance sheet date with corresponding changes in fair value recorded in the consolidated statement of operations. During the period ended August 31, 2015, the Company recorded a gain on the change in fair value of derivative liability of $52,490 (2014 - $0).  At August 31, 2015 the Company recorded a derivative liability of $423,698 (2014 - $0).

For the lattice options pricing model that values the compound embedded derivatives based on a probability weighted discounted cash flow model.  The Convertible Note derivative issued April 16, 2015 was valued as of inception and as of August 31, 2015.  The following assumptions were used for the valuation of the derivative liability related to the April 16, 2015 Note:

The stock price (decreasing from $1.15 to $0.018 in this period which significantly increased the liability) would fluctuate with the Company’s projected volatility;

An event of default for the Convertible Note would occur 0% of the time, increasing 1.00% per month to a maximum of 10%;

Alternative financing for the Convertible Note would be initially available to redeem the note 0% of the time and increase monthly by 2% to a maximum of 10%;

The monthly trading volume would average $5,399,150 to $599,618 and increase at 1% per month;

The variable conversion prices ranging from 60% to 65% of the trading prices over 20 trading days have effective discount rates of 57.15% to 52.70%;

The Note Holders would automatically convert the notes with variable conversion prices if the registration was effective and the company not in default;

The Company recorded the excess fair value of the derivative liability above the proceeds of $13,814 as interest expense

XML

Stockholders' equity

6 Months Ended

Aug. 31, 2015

Stockholders' equity

Stockholders' equity

7. Stockholders' equity

Common stock

On March 16, 2015, the Company entered into a consulting agreement with Dominic Johnny Calabrigo (“Calabrigo”).  Calabrigo is to be compensated with 4,840,000 Common Shares of the Company.  The agreement expires on December 25, 2015  On April 10, 2015, the Company issued 2,440,000 common shares, with a fair value of $73,200 and on May 6. 2015 the Company issued 2,400,000 common shares with a fair value of $55,200  to Domenic Calabrigo pursuant to the consulting agreement.

As of February 28, 2015, the Company has entered into an agreement with Empire State Financial Inc. (“Empire”) whereupon the Company would compensate Empire for arranging financing for the Company with 27,500 common shares.  The fair value of the common shares of $11,000 has been recorded as a stock payable liability as of February 28, 2015.  The common shares were issued on March 22, 2015.

During the period, the holders of the convertible notes payable converted $7,500 of notes in exchange for 3,215,453 common shares.

XML

Accounting Policies (Policies)

6 Months Ended

Aug. 31, 2015

Accounting Policies:

Basis of presentation

Basis of presentation

The accompanying unaudited consolidated financial statements and related notes have been prepared by management in accordance with accounting principles generally accepted in the United States of America and with the rules and regulations of the Securities and Exchange Commission to Form 10-Q and Article 8 of Regulation S-X.  These unaudited consolidated interim statements should be read in conjunction with the consolidated financial statements of the Company for the year ended February 28, 2015 and notes thereto contained in the information as part of the Company's Annual Report on Form 10-K filed with the SEC on June 15, 2015.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.   In the opinion of management, the unaudited consolidated interim financial statements furnished reflect all adjustments (consisting of normal recurring adjustments) which are necessary to present fairly the financial position and the results of operations for the interim periods presented herein.  Unaudited interim results are not necessarily indicative of the results for the full year, or any other period.

Use of estimates

Use of estimates

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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair value of financial instruments

Fair value of financial instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below:

Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.

Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.

Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data.

The carrying amounts of financial assets and liabilities, such as cash, accounts receivable, accounts payable, and accrued expenses, approximate their fair values because of the short maturity of these instruments.

The derivative liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical quoted market prices for the Company's common stock, and are classified within Level 3 of the valuation hierarchy.

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of August 31, 2015.

	Level 1		Level 2		Level 3
Derivative liabilities	$	-	$	-	$	423,698

The following table provides the assets and liabilities carried at fair value measured on a recurring basis as of February 28, 2015.

	Level 1		Level 2		Level 3
Derivatives liabilities	$	-	$	-	$	369,344

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Convertible Notes Payable (Details)	Aug. 31, 2015 USD ($)
Convertible Notes Payable Details
EMA Financial LLC	$ 100,000
EMA Financial LLC bearing interest per annum	12.00%
Note prepaid up to 180 days with a prepayment penalty	135.00%
Note Convertible into common shares of average of the lowest trading prices for 20 days	60.00%
Company received on issuance	$ 100,000
Company recorded a debt discount related to the day 1 fair value of the derivative liability	100,000
Company recorded amortization of debt discount expense	$ 75,420

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Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2015	Aug. 31, 2014	Aug. 31, 2015	Aug. 31, 2014
Revenue
Oil & gas revenue	$ 3,460	$ 1,497	$ 5,211	$ 7,820
Expenses
General and administrative	223,911	55,039	293,315	113,064
Depreciation, amortization and depletion	2,724	2,291	3,276	5,482
Total operating expense	226,635	57,330	296,591	118,546
Operating loss	(223,175)	(55,833)	(291,380)	(110,726)
Other income (expense)
Interest (expense) income	(53,977)	(2,000)	(100,800)	(4,000)
Amortization of deferred finance costs	(25,600)	0	(51,200)	0
Change in fair value of derivative liability	217,218	0	52,490	0
Total nonoperating income	137,641	(2,000)	(99,510)	(4,000)
Net Loss	$ (85,534)	$ (57,833)	$ (390,890)	$ (114,726)
Loss per common share - Basic and diluted	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding	53,327,358	49,016,667	53,327,358	49,016,667
Comprehensive income (loss)
Net Loss	$ (85,534)	$ (57,833)	$ (390,890)	$ (114,726)
Currency translation adjustment	71,996	0	119,195	0
Total comprehensive income (loss)	$ (13,538)	$ (57,833)	$ (271,695)	$ (114,726)

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Going concern

6 Months Ended

Aug. 31, 2015

Going concern:

Going concern

3. Going concern

As shown in the accompanying financial statements, the Company has an accumulated deficit of $2,557,073 since inception, a stockholders' deficit of $1,633,400 at August 31, 2015 and a working capital deficit of $1,702,342.  These conditions among others, raise substantial doubt as to the Company's ability to continue as a going concern.  In response to these conditions, we may raise additional capital through the sale of equity securities, through an offering of debt securities or through borrowings from financial institutions or individuals.  The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

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Loans Payable - related parties (Details) - USD ($)	Aug. 31, 2015	Feb. 28, 2015
Loans Payable - related parties Details
FWT has advanced	$ 1,109,589	$ 1,170,275
Accounts payable related parties	$ 118,322	$ 1,334,211