This is the first understandable theory about BLACK HOLES. The "New Theory" in Physics has been based on the Perfect Equilibrium in our Universe. A perfect Equilibrium which unifies Newtonian Physics with Electrodynamic, Quantum Physics and General Relativity. The "New Theory" unifies the famous fundamental theories in Physics of Isaac Newton, James Clerk Maxwell, Erwin Schrődinger and Albert Einstein. To understand the physics of Black Holes, it is important to understand the first law in Physics which controls our entire universe. This is the law of “Perfect Equilibrium”. Within the entire universe there is always a prefect equilibrium between all the physical forces like gravity, forces of inertia, radiation pressure and Electro-Magnetic Interaction forces at any time, in any direction and at any space coordinate. This is the fundamental law in physics on which the "New Theory" has been grounded.The "New Theory" explains in an easy and understandable way the existance of Space-Time curvatures, Black Holes, Electrodynamics and Quantum Dynamics. The "New Theory" will explain the forces within a beam of light interacting with gravity.