UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 10-K



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



For the fiscal year ended April 30, 2014



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



For the transition period from ___________ to
___________



Commission file number 333-183797



GILAX, CORP.

(Exact name of registrant as specified in its
charter)



Nevada

(State or Other Jurisdiction
of Incorporation or Organization)

|                                                        |                                                                              
|------------------------------------------------------- | -----------------------------------------------------------------------------
|68-0682040
        (IRS Employer Identification Number) | 1044
        (Primary Standard Industrial Classification
        Code Number)



6955 N Durango Drive Suite 1115-240

Las Vegas, NV 89149

(702) 843-0442

____________________________

(Address and telephone
number of principal executive offices)



Securities registered pursuant to Section 12(b)
of the Act: None



Securities registered pursuant to Section 12(g)
of the Act: None

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes
[  ] No [X]



Indicate by check mark if the  registrant
is not  required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [  ] No [X]



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 shorter period that the registrant as 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 if disclosure of delinquent
filers pursuant to Item 405 of Regulation S-K  is not contained herein, and will not be contained, to the best of registrant's
knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment
to this Form 10-K. Yes [  ] No [X]



Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of "accelerated filer and large
accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one):



|Large accelerated filer [  ] | Accelerated filer [  ]       
|---------------------------- | -----------------------------
|Non-accelerated filer [  ]   | Smaller reporting company [X]



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



As of July 29, 2014, the registrant had 3,230,000
shares of common stock issued and outstanding. No market value has been computed based upon the fact that no active trading market
has been established as of July 29, 2014.














TABLE OF CONTENTS





|           |                                                                                                |   
|---------- | ---------------------------------------------------------------------------------------------- | --
|PART
    I
|ITEM 1     | Description of Business                                                                        | 3 
|ITEM 1A    | Risk Factors                                                                                   | 3 
|ITEM 2     | Description of Property                                                                        | 3 
|ITEM 3     | Legal Proceedings                                                                              | 3 
|ITEM 4     | Mine Safety Disclosures                                                                        | 3 
|PART II   
|ITEM 5     | Market for Common Equity and Related
Stockholder Matters                                       | 4 
|ITEM 6     | Selected Financial Data                                                                        | 4 
|ITEM 7     | Management's Discussion and Analysis of Financial Condition and Results of Operations          | 4 
|ITEM 7A    | Quantitative and Qualitative Disclosures
about Market Risk                                     | 6 
|ITEM 8     | Financial Statements and Supplementary
Data                                                    | 7 
|ITEM 9     | Changes In and Disagreements with Accountants on Accounting and Financial Disclosure           | 8 
|ITEM 9A    | Controls and Procedures                                                                        | 8 
|PART III  
|ITEM 10    | Directors, Executive Officers, Promoters and Control Persons of the Company                    | 9 
|ITEM 11    | Executive Compensation                                                                         | 10
|ITEM 12    | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 11
|ITEM 13    | Certain Relationships and Related Transactions                                                 | 11
|ITEM 14    | Principal Accountant Fees and Services                                                         | 11
|PART IV   
|ITEM 15    | Exhibits                                                                                       | 12









2







PART I



Item 1. Description of Business



FORWARD-LOOKING STATEMENTS



This annual report contains forward-looking
statements. These statements relate to future events or our future financial performance. These statements often can be identified
by the use of terms such as "may," "will," "expect," "believe," "anticipate,"
"estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking
statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment
as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors
beyond our control that could cause actual results and events to differ materially from historical results of operations and events
and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements
to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated
events.



General



Gilax, Corp. was incorporated in the State
of Nevada on May 17, 2011 and established a fiscal year end of April 30.



Our business is the distribution of railway
ties, both new and reclaimed, in North America. To date, our business operations have been limited to primarily, the development
of a business plan, discussing the supply of railway ties with potential customers, and the signing of a Sales and Marketing Distribution
Agreement with DalLes Ltd. DalLes Ltd. is an established distributor of railway ties and is based in Russia.



Our services will include:





| | · | To find reliable Russian railway ties manufacturers and suppliers;
| | - | ------------------------------------------------------------------



| | · | To contact such manufacturers and suppliers to make sure that products
offered are high-quality and priced reasonably;
| | - | ----------------------------------------------------------------------------------------------------------------------



| | · | To negotiate shipping and insurance discounts as well as volume discounts
for high volume orders (Russian language barrier, time difference and finally time and effort involved should be taken into consideration);
and
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | · | To contact suppliers to rectify the problems in case low-quality,
damaged or misrepresented product was supplied.
| | - | -----------------------------------------------------------------------------------------------------------------





Item 1A. Risk Factors



Not applicable to smaller reporting companies.



Item 2. Description of Property



We do not own any real estate or other properties.



Item 3. Legal
Proceedings



We are not currently involved in any legal proceedings and we are
not aware of any pending or potential legal actions.



Item 4. Mine Safety Disclosures



None.





3





PART II



Item 5. Market for Common Equity and Related
Stockholder Matters



Market Information



There is a limited public market for our
common shares. Our common shares are quoted on the OTC Bulletin Board under the symbol “GLXC”. Trading
in stocks quoted on the OTC Bulletin Board is often thin and is characterized by wide fluctuations in trading prices due to
many factors that may be unrelated to a company’s operations or business prospects. We cannot assure you that there
will be a market in the future for our common stock.



OTC Bulletin Board securities are not
listed or traded on the floor of an organized national or regional stock exchange. Instead, OTC Bulletin Board securities
transactions are conducted through a telephone and computer network connecting dealers in stocks. OTC Bulletin Board
issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or
national stock exchange.



Number of Holders



As of July 29, 2014, the 3,230,000 issued and
outstanding shares of common stock were held by a total of 25 shareholders of record.



Dividends



No cash dividends were paid on our shares of
common stock during the fiscal years ended April 30, 2014. We have not paid any cash dividends since our inception and do
not foresee declaring any cash dividends on our common stock in the foreseeable future.



Recent Sales of Unregistered Securities



None.



Purchase of our Equity Securities by Officers and Directors



None.



Other Stockholder Matters



None.



Item 6. Selected Financial Data



Not applicable.



Item 7. Management's Discussion and Analysis
of Financial Condition and Results of Operations



The following discussion should be read
in conjunction with our financial statements, including the notes thereto, appearing elsewhere in this annual 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. Our audited financial statements
are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting
Principles.





4







RESULTS OF OPERATIONS



We have incurred recurring losses to
date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not
include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be
necessary should we be unable to continue in operation.



We expect we will require additional capital
to meet our long term operating requirements. We expect to raise additional capital through, among other things, the sale of equity
or debt securities.



FISCAL YEAR ENDED APRIL 30, 2014 COMPARED TO FISCAL YEAR ENDED APRIL
30, 2013.



Our net loss for the fiscal year ended April
30, 2014 was $108,101 compared to a net loss of $28,750 for the fiscal year ended April 30, 2013. During fiscal year ended April
30, 2014, the Company did not generate any revenue.



During the fiscal year ended April 30, 2014,
we incurred general and administrative expenses of $108,101 compared to $28,750 in general and administrative expenses incurred
during the fiscal year ending April 30, 2013.



Expenses incurred during fiscal year
ended April 30, 2014 compared to the fiscal year ended April 30, 2013 increased primarily due to the increased scale and
scope of business operations. General and administrative expenses generally include corporate
overhead, financial and administrative contracted services, marketing, and consulting costs.



The weighted average number of shares outstanding
was 3,230,000 for the fiscal year ended April 30, 2014 compared to 2,785,616 for the fiscal year ended April 30, 2013.



LIQUIDITY AND CAPITAL RESOURCES



FISCAL YEAR ENDED APRIL 30, 2014



As of April 30, 2014, our current assets were
$276 and our total liabilities were $113,069. As of April 30, 2014, current assets were entirely of $276 in cash. As of April 30,
2014, total liabilities were comprised of $17,871 from an advance from a former director, $81,840 in a loan from a shareholder,
$2,000 in accounts payable related party, and $11,358 in accounts payable. Stockholders’ deficit was $112,793 as of April
30, 2014.



Cash Flows from Operating Activities



We have not generated positive cash flows from
operating activities. For the fiscal year ended April 30, 2014, net cash flows used in operating activities was $88,943 consisting
of a net loss of $108,101, decrease in prepaid expenses of $6,000, increase in accounts payable related party of $2,000, and accounts
increase in accounts payable of $11,158. Net cash flows used in operating activities was $123,835 for the period from inception
to ended April 30, 2014.



Cash Flows from Financing Activities



We have financed our operations primarily from
either advancements or the issuance of equity and debt instruments. For the fiscal year ended April 30, 2014 net cash provided
by financing activities was $88,937, received from proceeds from shareholder loan and proceeds from advances from a former director.
 For the year ended April 30, 2013, net cash provided by financing activities was $32,100 received from proceeds from issuance
of common stock and proceeds from related party.





5







PLAN OF OPERATION AND FUNDING



We expect that working capital requirements
will continue to be funded through a combination of our existing funds and further issuances of securities. Our working capital
requirements are expected to increase in line with the growth of our business.



Existing working capital, further advances
and debt instruments, and anticipated cash flow are expected to be adequate to fund our operations over the next six months. We
have no lines of credit or other bank financing arrangements. Generally, we have financed operations to date through the proceeds
of the private placement of equity and debt instruments. In connection with our business plan, management anticipates additional
increases in operating expenses and capital expenditures relating to: (i) acquisition of inventory; (ii) developmental expenses
associated with a start-up business; and (iii) marketing expenses. We intend to finance these expenses with further issuances of
securities, and debt issuances. Thereafter, we expect we will need to raise additional capital and generate revenues to meet long-term
operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to our current shareholders.
Further, such securities might have rights, preferences or privileges senior to our common stock. Additional financing may not
be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, we
may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially
restrict our business operations.



MATERIAL COMMITMENTS



As of the date of this Annual Report, we do not have any material
commitments.



PURCHASE OF SIGNIFICANT EQUIPMENT



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



OFF-BALANCE SHEET ARRANGEMENTS



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



GOING CONCERN



The independent auditors' report accompanying
our April 30, 2014 and April 30, 2013 financial statements contains an explanatory paragraph expressing substantial doubt about
our ability to continue as a going concern. The financial statements have been prepared "assuming that we will continue as
a going concern," which contemplates that we will realize our assets and satisfy our liabilities and commitments in the ordinary
course of business.



Item 7A. Quantitative and Qualitative Disclosures
about Market Risk



Not applicable to smaller reporting companies.





6







Item 8. Financial Statements and Supplementary
Data



GILAX, CORP.



TABLE OF CONTENTS



|                                                                                                                                        |          
|--------------------------------------------------------------------------------------------------------------------------------------- | ---------
|Report of Independent Registered Public Accounting Firm                                                                                 | F-1      
|                                                                                                                                        |          
|Balance Sheets as of April 30, 2014 and
April 30, 2013                                                                                  | F-2      
|                                                                                                                                        |          
|Statements of Operations for the years
ended April 30, 2014 and 2013 and for the period from inception (May 17, 2011) to April 30, 2014 | F-3      
|                                                                                                                                        |          
|Statement of Stockholders’ Equity
(Deficit) for the period from inception (May 17, 2011) to April 30, 2014                              | F-4      
|                                                                                                                                        |          
|Statements of Cash Flows for the years
ended April 30, 2014 and 2013 and for the period from inception (May 17, 2011) to April 30, 2014 | F-5      
|                                                                                                                                        |          
|Notes to the Financial Statements                                                                                                       | F-6 – F-8





































7







LBB & ASSOCIATES LTD., LLP

10260 Westheimer Road, Suite 310

Houston, TX 77042

Phone: (713) 800-4343 Fax: (713) 456-2408



Report of Independent Registered Public
Accounting Firm



To the Board of Directors of

Gilax, Corp

(A Development Stage Company)

Las Vegas, Nevada



We have audited the accompanying balance sheets
of Gilax, Corp (the “Company”) as of April 30, 2014 and 2013, and the related statements of operations, stockholders'
equity (deficit), and cash flows for each of the years then ended and for the period from May 17, 2011 (inception) through April
30, 2014. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion
on these financial statements based on our audits.



We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and
perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement.  The
Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.  Our
audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate
in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control
over financial reporting.  Accordingly, we express no such opinion.  An audit also includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide
a reasonable basis for our opinion.



In our opinion, the financial statements referred
to above present fairly, in all material respects, the financial position of Gilax, Corp as of April 30, 2014 and 2013, and the
results of its operations and its cash flows for each of the years then ended and for the period from May 17, 2011 (inception)
through April 30, 2014 in conformity with accounting principles generally accepted in the United States of America.



As discussed in Note 1 to the financial statements,
the Company's absence of significant revenues, recurring losses from operations, and its need for additional financing in order
to fund its projected loss in 2015 raise substantial doubt about its ability to continue as a going concern. The 2014 financial
statements do not include any adjustments that might result from the outcome of this uncertainty.





/s/ LBB & Associates Ltd., LLP

LBB & Associates Ltd., LLP



Houston, Texas

July 29, 2014





F-1







GILAX, CORP.

(A DEVELOPMENT STAGE COMPANY)

BALANCE SHEETS



|                                                                                                                                        |  | APRIL 30, 2014 |          |   | APRIL 30, 2013 |  
|--------------------------------------------------------------------------------------------------------------------------------------- |  | -------------- | -------- | - | -------------- | -
|ASSETS                                                                                                                                  |  |                |          |   |                |  
|Current Assets                                                                                                                          |  |                |          |   |                |  
|Cash                                                                                                                                    |  | $              | 276      |   |                | $
|Prepaid expenses                                                                                                                        |  |                | –        |   |                |  
|Total current assets                                                                                                                    |  |                | 276      |   |                |  
|Total assets                                                                                                                            |  | $              | 276      |   |                | $
|                                                                                                                                       
|LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                          |  |                |          |   |                |  
|Current Liabilities                                                                                                                     |  |                |          |   |                |  
|Accounts payable                                                                                                                        |  | $              | 11,358   |   |                | $
|Accounts payable – related party                                                                                                        |  |                | 2,000    |   |                |  
|Loan from shareholder                                                                                                                   |  |                | 81,840   |   |                |  
|Advances                                                                                                                                |  |                | 17,871   |   |                |  
|Total current liabilities                                                                                                               |  |                | 113,069  |   |                |  
|Total liabilities                                                                                                                       |  |                | 113,069  |   |                |  
|                                                                                                                                       
|                                                                                                                                       
|Stockholders’ Equity (Deficit)                                                                                                         
|Common stock, $0.001 par value, 75,000,000 shares authorized; 3,230,000 shares issued and
    outstanding as of April 30, 2014 and 2013 |  |                | 3,230    |   |                |  
|Additional paid-in-capital                                                                                                              |  |                | 21,170   |   |                |  
|Deficit accumulated during the development stage                                                                                        |  |                | (137,193 | ) |                |  
|Total stockholders’ equity (deficit)                                                                                                    |  |                | (112,793 | ) |                |  
|Total liabilities and stockholders’ equity (deficit)                                                                                    |  | $              | 276      |   |                | $



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





F-2







GILAX, CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF OPERATIONS



|                                                                       |  | Year ended
                                                                                April 30, 2014 |           |   | Year ended
                                                                                April 30, 2013 |   |           | For the period from inception
                                                                                (May 17, 2011) to
                                                                                April 30, 2014 | 
|---------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------- | --------- | - | --------------------------------------------------------------------------------------------------------- | - | --------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | 
|Revenues                                                               |  | $                                                                                                         |           |   |                                                                                                           | $ | –         |                                                                                                                                                                                                                                | 
|Expenses                                                               |  |                                                                                                           |           |   |                                                                                                           |   |           |                                                                                                                                                                                                                                | 
|General and administrative expenses                                    |  |                                                                                                           | 108,101   |   |                                                                                                           |   | 28,750    |                                                                                                                                                                                                                                | 
|Net loss from operations                                               |  |                                                                                                           | (108,101  | ) |                                                                                                           |   | (28,750   | )                                                                                                                                                                                                                              | 
|Net loss                                                               |  | $                                                                                                         | (108,101  | ) |                                                                                                           | $ | (28,750   | )                                                                                                                                                                                                                              | 
|Loss per common share – Basic and Diluted                              |  | $                                                                                                         | (0.03     | ) |                                                                                                           | $ | (0.01     | )                                                                                                                                                                                                                              | 
|Weighted Average Number of Common Shares Outstanding-Basic and Diluted |  |                                                                                                           | 3,230,000 |   |                                                                                                           |   | 2,785,616 |                                                                                                                                                                                                                                | 
|                                                                       |  |                                                                                                           |           |   |                                                                                                           |   |           |                                                                                                                                                                                                                                | 

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





F-3







GILAX, CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENT OF STOCKHOLDERS’ EQUITY
(DEFICIT)

For the period from inception (MAY 17, 2011) to APRIL 30, 2014



|                                        |  | Number of Common Shares |           |  | Amount |   |       | Additional Paid-in- Capital |  |   | Deficit accumulated during  development stage |  |  | Total |         
|--------------------------------------- |  | ----------------------- | --------- |  | ------ | - | ----- | --------------------------- |  | - | --------------------------------------------- |  |  | ----- | --------
|Balance at inception                    |  |                         | –         |  |        | $ | –     |                             |  | $ | –                                             |  |  | $     | –       
|Common shares issued for cash at $0.001 |  |                         | 2,500,000 |  |        |   | 2,500 |                             |  |   | –                                             |  |  |       | –       
|Net loss                                |  |                         | –         |  |        |   | –     |                             |  |   | –                                             |  |  |       | (342    
|Balance as of April 30, 2012            |  |                         | 2,500,000 |  |        |   | 2,500 |                             |  |   | –                                             |  |  |       | (342    
|Common shares issued for cash  at $0.03 |  |                         | 730,000   |  |        |   | 730   |                             |  |   | 21,170                                        |  |  |       | –       
|Net loss                                |  |                         | –         |  |        |   | –     |                             |  |   | –                                             |  |  |       | (28,750 
|Balance as of April 30, 2013            |  |                         | 3,230,000 |  |        |   | 3,230 |                             |  |   | 21,170                                        |  |  |       | (29,092 
|Net loss                                |  |                         | –         |  |        |   | –     |                             |  |   | –                                             |  |  |       | (108,101
|Balance as of April 30, 2014            |  |                         | 3,230,000 |  |        | $ | 3,230 |                             |  | $ | 21,170                                        |  |  | $     | (137,193



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





F-4







GILAX, CORP.

(A DEVELOPMENT STAGE COMPANY)

STATEMENTS OF CASH FLOWS



|                                                |  | Year endedApril 30, 2014 |          |   | Year endedApril 30, 2013 |   |         | For the period from inception(May 17, 2011) toApril 30, 2014 | 
|----------------------------------------------- |  | ------------------------ | -------- | - | ------------------------ | - | ------- | ------------------------------------------------------------ | 
|Operating Activities                            |  |                          |          |   |                          |   |         |                                                              | 
|Net loss                                        |  | $                        | (108,101 | ) |                          | $ | (28,750 | )                                                            | 
|Decrease (Increase) in Operating Assets:        |  |                          |          |   |                          |   |         |                                                              | 
|Prepaid Expenses                                |  |                          | 6,000    |   |                          |   | (6,000  | )                                                            | 
|Increase (Decrease) in Operating Liabilities:   |  |                          |          |   |                          |   |         |                                                              | 
|Accounts Payable                                |  |                          | 11,158   |   |                          |   | 200     |                                                              | 
|Accounts Payable – related party                |  |                          | 2,000    |   |                          |   | –       |                                                              | 
|Net cash used in operating activities           |  |                          | (88,943  | ) |                          |   | (34,550 | )                                                            | 
|                                                |  |                          |          |   |                          |   |         |                                                              | 
|Financing
Activities                            |  |                          |          |   |                          |   |         |                                                              | 
|Proceeds from sale of common stock              |  |                          | –        |   |                          |   | 21,900  |                                                              | 
|Proceeds from shareholder loan                  |  |                          | 81,840   |   |                          |   | –       |                                                              | 
|Proceeds from advances                          |  |                          | 7,097    |   |                          |   | 10,200  |                                                              | 
|Net cash provided by financing activities       |  |                          | 88,937   |   |                          |   | 32,100  |                                                              | 
|                                                |  |                          |          |   |                          |   |         |                                                              | 
|Net change in cash and equivalents              |  |                          | (6       | ) |                          |   | (2,450  | )                                                            | 
|Cash and equivalents at beginning of the period |  |                          | 282      |   |                          |   | 2,732   |                                                              | 
|Cash and equivalents at end of the period       |  | $                        | 276      |   |                          | $ | 282     |                                                              | 
|                                                |  |                          |          |   |                          |   |         |                                                              | 
|Supplemental cash flow information:             |  |                          |          |   |                          |   |         |                                                              | 
|Cash paid for:                                  |  |                          |          |   |                          |   |         |                                                              | 
|Interest                                        |  | $                        | –        |   |                          | $ | –       |                                                              | 
|Taxes                                           |  | $                        | –        |   |                          | $ | –       |                                                              | 



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





F-5







GILAX, CORP.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO THE FINANCIAL STATEMENTS

APRIL 30, 2014



NOTE 1 – ORGANIZATION AND
BUSINESS OPERATIONS



GILAX, CORP. (the “Company”)
was incorporated under the laws of the State of Nevada on May 17, 2011 and intended to commence operations in the
distribution of railway ties in North America. On October 25, 2013 Seidenschnur Verwaltungs AG purchased 2,500,000 shares of
restricted stock of Gilax Corp., representing 77% of the shares in the Company from Aleksandr Gilev, its Director, for
$150,000.00 in cash. On October 25, 2013 Aleksandr Gilev resigned his official position as Director of the Corporation. New
Directors of the Corporation, changed business direction into acquiring various mineral properties that have the
potential to yield high returns. The Company is in the development stage as defined under Financial Accounting Standards
Board (“FASB”) Accounting Standards Codification (“ASC”) 915-205 "Development-Stage
Entities.” Since inception through April 30, 2014 the Company has not generated any revenue and has accumulated losses
of $137,193.



NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES



Basis of Presentation

The financial statements of the Company have been prepared
in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars.



Going Concern



The financial statements have been prepared
on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal
course of business for the foreseeable future. The Company has incurred a loss since inception resulting in an accumulated
deficit of $137,193 as of April 30, 2014 and further losses are anticipated in the development of its business.  Accordingly,
there is substantial doubt about the Company’s ability to continue as a going concern.



The ability to continue as a going concern
is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its
obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance
operating costs over the next twelve months with existing cash on hand and advances and loans from directors and/or private placement
of common stock.



Cash and Cash Equivalents



The Company considers all highly liquid instruments with
an original maturity of three months or less at the time of issuance to be cash equivalents.

Use of Estimates and Assumptions



The preparation of
financial statements in conformity with accounting principles generally accepted in the United
States 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. In management’s opinion, all adjustments
necessary for a fair statement of the results for the period have been made, and all adjustments are of a normal recurring nature.

Basic Loss per Share



Basic loss per share has been calculated based
on the weighted average number of shares of common stock outstanding during the period.



Financial Instruments



The Company's financial instruments consist
of cash, accounts payable, advances and loan from shareholder. Unless otherwise noted, it is management's opinion that the Company
is not exposed to significant interest, currency or credit risks arising from these financial instruments. Because of the short
maturity of such assets and liabilities the fair value of these financial instruments approximate their carrying values, unless
otherwise noted.



Recent accounting pronouncements

We have reviewed all the
recent and not yet effective accounting pronouncements issued through the date of these financial statements, and we do not believe
any of these pronouncements will have a material impact on the Company.





F-6







NOTE 3 – COMMON STOCK



The Company has 75,000,000 common shares authorized with a par value
of $0.001 per share. On February 21, 2012, the Company issued 2,500,000 shares of its common stock at $0.001 per share for total
proceeds of $2,500. For the year ended April 30, 2013, the Company issued 730,000 shares of common stock at a price of $0.03 per
share for total cash proceeds of $21,900. As of April 30, 2014 the Company had 3,230,000 shares of its common stock outstanding.



NOTE 4 – RELATED PARTY TRANSACTIONS



For the period from inception on May 17, 2011
to April 30, 2014, a former shareholder advanced the Company $17,871. As of April 30, 2014, the total amount was $17,871.
The advance is non-interest bearing, due upon demand and unsecured.

During the year ended April 30, 2014 a shareholder loaned
the company $81,840. The loan bears interest at 3% annum, due on September 15, 2014, and unsecured. At the holder’s option
the holder may convert all or part of the outstanding principal balance and accrued interest into common stock of the Company at
a conversion price equal to $0.003 per share at any time.



In addition, in the event of a merger or acquisition
and there remains an outstanding balance on the principal and accrued interest, the holder is entitled to an additional maximum
of 20,460,000 common shares.



NOTE 5 – INCOME TAXES



As of April 30, 2014 the Company had net operating
loss carry forwards of approximately $137,000 that may be available to reduce future years’ taxable income through 2033.
Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their
realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred
tax asset relating to these tax loss carry-forwards.





F-7







Components of net deferred tax assets,
including a valuation allowance, are as follows at April 30, 2013 and 2014.



|                                 |  | 2014 |         |   | 2013 |  
|-------------------------------- |  | ---- | ------- | - | ---- | -
|Deferred tax assets:             |  |      |         |   |      |  
|Net operating loss carry forward |  | $    | 47,000  |   |      | $
|Total deferred tax assets        |  |      | 47,000  |   |      |  
|Less: valuation allowance        |  |      | (47,000 | ) |      |  
|Net deferred tax assets          |  | $    | –       |   |      | $



The valuation allowance for deferred tax assets
as of April 30, 2014 was approximately $137,000. In assessing the recovery of the deferred tax assets, management considers whether
it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of
deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences
become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income,
and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred
tax assets would not be realized as of April 30, 2013.



Reconciliation between the statutory rate and the effective tax
rate is as follows at April 30, 2013 and 2014:



|                              |  | 2014 |       |    | 2013 | 
|----------------------------- |  | ---- | ----- | -- | ---- | 
|Federal statutory tax rate    |  |      | (34.0 | )% |      | 
|Change in valuation allowance |  |      | 34.0  | %  |      | 
|Effective tax rate            |  |      | –     | %  |      | 



NOTE 6 – SUBSEQUENT EVENTS



Subsequent to year end the Company received
shareholder advances of $4,997. The advances are non-interest bearing, due on demand, and unsecured.





F-8







Item 9. Changes In and Disagreements with
Accountants on Accounting and Financial Disclosure



None.



Item 9A(T). Controls and Procedures



Management’s Report on Disclosure Controls and
Procedures



Our management is responsible for establishing
and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act)
that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange
Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms.
Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required
to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to
the issuer’s management, including its principal executive officer or officers and principal financial officer or officers,
or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.



An evaluation was conducted under the supervision
and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures
as of April 30, 2014. Based on that evaluation, our management concluded that our disclosure controls and procedures were effective
as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act,
is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms. Such officer also confirmed
that there was no change in our internal control over financial reporting during the fiscal year ended April 30, 2014 that has
materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.





8







PART III



Item 10. Directors, Executive Officers,
Promoters and Control Persons of the Company



DIRECTORS AND EXECUTIVE OFFICERS



The name, address and position
of our present officers and directors are set forth below:



|Name and Address
        of
        Executive Officer and/or Director |  | Age |  | Position                 
|--------------------------------------------------------------------- |  | --- |  | -------------------------
|Maria Tzetzangari Ibarra Junquera,                                    |  | 46  |  | President, CEO & Director
|                                                                      |  |     |  |                          

Maria Tzetzangari Ibarra Junquera, has
acted as our President & CEO and Director since October 25, 2013. She graduated with a Degree in Journalism and Communication
Sciences, from Universidad Nacional Autonoma de Mexico (UNAM),Mexico
City, Mexico. Her professional experience includes beingGeneral
Manager,Invest Manzanillo, Buffette de Inversiones,Agent, Notaria Publica No. 4 and General Manager, T- ANNA, S.A.
DE C.V. (Korean owned) all located in Mexico.



During the past
ten years, Maria Tzetzangari Ibarra Junquera, has not been the subject to any of the following events:



1. Any bankruptcy
petition filed by or against any business of which Maria Tzetzangari Ibarra Junquera, was a general partner or executive officer
either at the time of the bankruptcy or within two years prior to that time.



2. Any conviction
in a criminal proceeding or being subject to a pending criminal proceeding.



3. An order, judgment,
or decree, not subsequently reversed, suspended or vacated, or any court of competent jurisdiction, permanently or temporarily
enjoining, barring, suspending or otherwise limiting Maria Tzetzangari Ibarra Junquera, involvement in any type of business, securities
or banking activities.



4. Found by a
court of competent jurisdiction (in a civil action), the Securities and Exchange Commission or the Commodity Future Trading Commission
to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.



5. Was the
subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring,
suspending or otherwise limiting for more than 60 days the right to engage in any activity described in paragraph (f)(3)(i) of
this section, or to be associated with persons engaged in any such activity;



6. Was found
by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law,
and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;



7. Was the subject
of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
suspended or vacated, relating to an alleged violation of:



i. Any Federal
or State securities or commodities law or regulation; or



ii. Any law or
regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction,
order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition
order; or



iii. Any law
or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or



8. Was the subject
of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization
(as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29)
of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary
authority over its members or persons associated with a member.





9





AUDIT
COMMITTEE



We do not have an audit committee
financial expert. We do not have an audit committee financial expert because we believe the cost related to retaining a financial
expert at this time is prohibitive. Further, because we have no operations, at the present time, we believe the services of a financial
expert are not warranted.



Item 11. Executive Compensation



The table below summarizes all compensation awarded to,
earned by, or paid to our executive officers by any person for all services rendered in all capacities to us for the fiscal period
from our incorporation on May 17, 2011 to April 30, 2014.



SUMMARY COMPENSATION TABLE



Summary Compensation Table

|                                                                |                            |                    |                   |                                  |                                   |                                                                            |                                            |                                            |                  
|--------------------------------------------------------------- | -------------------------- | ------------------ | ----------------- | -------------------------------- | --------------------------------- | -------------------------------------------------------------------------- | ------------------------------------------ | ------------------------------------------ | -----------------
|Name and
        Principal
        Position                     | Year                       | Salary
        ($) | Bonus
        ($) | Stock
        Awards
        ($) | Option
        Awards
        ($) | Non-Equity
        Incentive
        Plan
        Compensation
        ($) | All Other
        Compensation
        ($) | All Other
        Compensation
        ($) | Total
        ($)
|Maria
    Tzetzangari Ibarra Junquera President, CEO & Director | 2013
        
        2014 | -0-                | -0-               | -0-                              | -0-                               | -0-                                                                        | -0-                                        | -0-                                        | -0-              



There are no current employment agreements
between the company and its sole officer. The compensation discussed herein addresses all compensation awarded to, earned by, or
paid to our named executive officer. There are no other stock option plans, retirement, pension, or profit sharing plans for the
benefit of our officers and directors other than as described herein.



CHANGE OF CONTROL



As of April 30, 2014, we had no pension plans
or compensatory plans or other arrangements which provide compensation in the event of a termination of employment or a change
in our control.





10







Item 12. Security
Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters



The following table provides certain information regarding the ownership
of our common stock, as of July 29, 2014 and as of the date of the filing of this annual report by:



| | · | each of our executive officers;
| | - | -------------------------------

| | · | each director;
| | - | --------------

| | · | each person known to us to own more than 5% of our outstanding common
stock; and
| | - | --------------------------------------------------------------------------------

| | · | all of our executive officers and directors and as a group.
| | - | -----------------------------------------------------------



|Title
    of Class                    |  | Name
        and Address of
        Beneficial Owner |  | Amount and Nature of
        Beneficial Ownership |  | Percentage | 
|------------------------------------- |  | ---------------------------------------------------- |  | ------------------------------------------------- |  | ---------- | 
|                                      |  |                                                      |  |                                                   |  |            | 
|Common Stock                          |  | N/A                                                  |  | shares of common stock (direct)                   |  | N/A        | 
|All officers and directors (1 person) |  | N/A                                                  |  | shares of common stock                            |  | N/A        | 



The percent of class is based on 3,230,000
shares of common stock issued and outstanding as of the date of this annual report.



Item 13. Certain Relationships and Related
Transactions



During the year ended April 30, 2014, we had
not entered into any transactions with our sole officer or director, or persons nominated for these positions, beneficial owners
of 5% or more of our common stock, or family members of these persons wherein the amount involved in the transaction or a series
of similar transactions exceeded the lesser of $120,000 or 1% of the average of our total assets for the last three fiscal years.



Item 14. Principal Accountant Fees and Services



During fiscal year ended April 30, 2014,
we incurred approximately $9,600 in fees to our principal independent accountants for professional services rendered
in connection with the audit of our financial statements and for the quarterly reviews of our financial statements.





11







Item 15. Exhibits



The following exhibits are filed as part of
this Annual Report.



Exhibits:



|31.1    |  | Certification of Chief Executive Officer and Chief Financial Officer pursuant
to Section 302(a) of the Sarbanes-Oxley Act                                                                                                                                                                                                     
|------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|32.1    |  | Certification of Chief Executive Officer and
                                                                                      Chief Financial Officer Under Section 1350 as Adopted Pursuant Section 906 of the
                                                                                      Sarbanes-Oxley Act.
|99.1    |  | Temporary Hardship Exemption                                                                                                                                                                                                                                                                                                  
|101.INS |  | XBRL Instance Document*                                                                                                                                                                                                                                                                                                       
|101.SCH |  | XBRL Schema Document*                                                                                                                                                                                                                                                                                                         
|101.CAL |  | XBRL Calculation Linkbase Document*                                                                                                                                                                                                                                                                                           
|101.DEF |  | XBRL Definition Linkbase Document*                                                                                                                                                                                                                                                                                            
|101.LAB |  | XBRL Label Linkbase Document*                                                                                                                                                                                                                                                                                                 
|101.PRE |  | XBRL Presentation Linkbase Document*                                                                                                                                                                                                                                                                                          

_______________________

|* | To be furnished by amendment per Temporary Hardship Exemption under Regulation S-T.
|- | -----------------------------------------------------------------------------------









































12







SIGNATURES



In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



|                     |                                                 
|-------------------- | ------------------------------------------------
|                     | GILAX, CORP.                                    
|                     |                                                 
|Dated: July 29, 2014 | By: /s/ Maria Tzetzangari Ibarra Junquera       
|                     | Maria Tzetzangari Ibarra Junquera, Director, CEO















































13