UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-QSB

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

For the quarterly period ended: September 30, 2007

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

For the transition period from                           to                         

Commission File number           0-11695

APEX RESOURCES GROUP, INC.
(Exact name of registrant as specified in charter)

UTAH
87-0403828
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
   
299 S. Main Street, Suite 1300, Salt Lake City, Utah
84111
(Address of principal executive offices)
(Zip Code)

(801) 534-4450
Registrant’s telephone number, including area code

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 
Yes [X]  No [   ]

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

As of November 9, 2007, the Company had 120,681,870 shares of its $.001 par value, common stock outstanding.

Transitional Small Business Disclosure Format:
Yes [   ]  No [X]
 


INDEX

   
Page
Number
PART I.
    
     
ITEM 1.
Financial Statements (unaudited)
3
     
 
Balance Sheet
As of September 30, 2007 and June 30, 2007
3
     
 
Statements of Operations
Three months ended September 30, 2007 and 2006 and the period from inception (January 27, 1984) to September 30, 2007
4
     
 
Statement of Cash Flows
Three months ended September 30, 2007 and 2006 and the period from inception (January 27, 1984) to September 30, 2007
5
     
 
Notes to Financial Statements
6
     
ITEM 2.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
12
     
ITEM 3.
Controls and Procedures
17
     
PART II
    
     
ITEM 2.
Unregistered Sales of Equity Securities and Use of Proceeds
18
     
ITEM 6.
Exhibits
18
     
 
Signatures
19






2

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS
 
APEX RESOURCES GROUP, INC.
(Development Stage Company)
BALANCE SHEET
September 30, 2007

   
Sept. 30, 2007
    
June 30, 2007
  
CURRENT ASSETS
            
Cash
    
62,783
      
33,048
  
Total Current Assets
    
62,783
      
33,048
  
                 
PROPERTY AND EQUIPMENT
                
- net of accumulated depreciation
    
97,691
      
99,023
  
                 
OTHER ASSETS
                
Accounts receivable
    
36,750
          
Oil leases
    
67,913
      
67,913
  
Available for sale securities
    
61,351
      
61,351
  
Land - Canada
            
34,352
  
     
166,014
      
163,616
  
                 
Total Assets
    
326,488
      
295,687
  
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
                
                 
CURRENT LIABILITIES
                
Accounts payable
    
77,172
      
59,199
  
Accrued Rent
    
3,300
          
Accounts payable - related parties
    
50,000
      
60,000
  
Total Current Liabilities
    
130,472
      
119,199
  
                 
STOCKHOLDERS' EQUITY
                
Common stock 400,000,000 shares authorized, at $.001 par value; 120,681,870 issued and outstanding
    
120,682
      
120,682
  
Capital in excess of par value
    
9,752,801
      
9,505,281
  
Less stock subscriptions receivable
     (54,209 )     (54,209 )
Deficit accumulated during the development stage
     (9,623,258 )     (9,395,266 )
Total Stockholders' Equity
    
196,016
      
176,488
  
                 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
    
326,488
      
295,687
  

See the accompanying notes to the interim financial statements.

3

APEX RESOURCES GROUP, INC.
(Development Stage Company)
STATEMENT OF OPERATIONS

   
3 months ended Sept. 30,
    
Jan. 27, 1984
(date of inception of development stage) to
Sept. 30,
  
   
2007
    
2006
    
2007
  
                   
REVENUES
                  
Other non-operating income
   $
-
     $
650
     $
369,232
  
                         
EXPENSES
                        
Exploration, development and administrative - Note 7
    
78,596
      
71,313
      
11,131,251
  
Stock Based Compensation
    
247,520
       -      
247,520
  
Depreciation
    
1,332
      
5,328
      
195,594
  
                         
Total operating expenses
    
327,448
      
76,641
      
11,574,365
  
                         
NET (LOSS) - before other income
                        
(expense)
     (327,448 )     (75,991 )     (11,205,133 )
                         
Gain on sale of assets
    
99,457
      
50,028