----

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| Nevada                                                         |   | 98-0347883                          |
|----------------------------------------------------------------|--------|-------------------------------------|
| (State of other jurisdiction of incorporation or organization) |   | (I.R.S. Eployer Identification No.) |

| Title of each class |   | Name of each exchange on which registered |
|---------------------|--------|-------------------------------------------|
| COMMON STOCK        |   | OTC-BB                                    |

----

| Yes |   |   | No | X |
|-----|--------|--------|----|---|

| Yes |   |   | No | X |
|-----|--------|--------|----|---|

| Yes | X |   | No |   |
|-----|---|--------|----|--------|

| Yes |   |   | No | X |
|-----|--------|--------|----|---|

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

| Yes |   |   | No | X |
|-----|--------|--------|----|---|

----

| Yes |   |   | No |   |
|-----|--------|--------|----|--------|

| Reference | Section Name                                                                                                  | Page               |
|-----------|---------------------------------------------------------------------------------------------------------------|--------------------|
| PART I    | 1                                                                                                             |
| Item 1.   |                                                                                                          |  Business     | 1 |
| Item 1A.  |                                                                                                          |  Risk Factors | 3 |
| Item 1B.  | Unresolved Staff Comments                                                                                     | 5                  |
| Item 2.   | Properties                                                                                                    | 5                  |
| Item 3.   | Legal Proceedings                                                                                             | 5                  |
| Item 4.   | Submission of Matters to a Vote of Security Holders                                                           | 5                  |
|      |                                                                                                          |               |
| PART II   |                                                                                                          | 5                  |
| Item 5.   | Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities | 5                  |
| Item 6.   | Selected Financial Data                                                                                       | 6                  |
| Item 7.   | Management's Discussion and Analysis of Financial Condition and Results of Operations                         | 6                  |
| Item 7A.  | Quantitative and Qualitative Disclosures about Market Risk                                                    | 7                  |
| Item 8.   | Financial Statements and Supplementary Data                                                                   | 8                  |
|      | Accountant's Audit Report                                                                                     | 8                  |
|      | Consolidated Balance Sheets                                                                                   | 9                  |
|      | Consolidated Statements of Operations                                                                         | 10                 |
|      | Consolidated Statements of Changes in Stockholder's Equity                                                    | 11                 |
|      | Consolidated Statements of Cash Flows                                                                         | 12                 |
|      | Notes to Consolidated Financial Statements                                                                    | 13                 |
| Item 9.   | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                          | 20                 |
| Item 9A.  | Controls and Procedures                                                                                       | 20                 |
| Item 9B.  | Other Information                                                                                             | 20                 |
|      |                                                                                                          |
| PART III  |                                                                                                          |
| Item 10.  | Directors, Executive Officers and Corporate Governance                                                        | 21                 |
| Item 11.  | Executive Compensation                                                                                        | 21                 |
| Item 12.  | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                | 22                 |
| Item 13.  | Certain Relationships and Related Transactions, and Director Independence                                     | 23                 |
| Item 14.  | Principal Accounting Fees and Services                                                                        | 24                 |
|      |                                                                                                          |               |
| PART IV   |                                                                                                          |               |
| Item 15.  | Exhibits and Financial Statement Schedules                                                                    | 25                 |
|      | Signatures                                                                                                    | 25                 |

----

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----

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----

| Quarter Ended                 |   | Mar. 31 |   |   | Jun. 30 |   |   | Sep. 30 |   |   | Dec. 31 |   |   | Year   |   |
|-------------------------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|--------|--------|
| Fiscal Year 2010              |   |    |   |   |    |   |   |    |   |   |    |   |   |   |   |
| Common stock price per share: |   |    |   |   |    |   |   |    |   |   |    |   |   |   |   |
| High                          |   | $       | 0.20   |   |    | $      | 0.20   |    |   | $      | 0.19    |   |   | $      | 0.19   |   |   | $ | 0.20 |   |
| Low                           |   | $       | 0.20   |   |    | $      | 0.10   |    |   | $      | 0.18    |   |   | $      | 0.10   |   |   | $ | 0.10 |   |
| Fiscal Year 2009              |   |    |   |   |    |   |   |    |   |   |    |   |   |   |   |   |   |   |   |   |
| Common stock price per share  |   |    |   |   |    |   |   |    |   |   |    |   |   |   |   |   |   |   |   |   |
| High                          |   | $       | 0.34   |   |    | $      | 0.35   |    |   | $      | 0.30    |   |   | $      | 0.30   |   |   | $ | 0.35 |   |
| Low                           |   | $       | 0.25   |   |    | $      | 0.25   |    |   | $      | 0.25    |   |   | $      | 0.20   |   |   | $ | 0.20 |   |

| Equity Compensation Plan Information                      |
|----------------------------------------------------------------|
| Plan category                                                  | Number of securities to be issued upon exercise of outstanding options, warrants and rights(a) | Weighted-average exercise price of outstanding options, warrants and rights(b) | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))(c) |
| Equity compensation plans approved by security holders (1)     | -0- | -0- | -0- |
| Equity compensation plans not approved by security holders (2) | -0- | -0- | -0- |
| Total                                                          | -0- | -0- | -0- |

----

----

----

----

|                                          |   | 2010(Audited)(Restated) |    |   | 2009(Audited) |   |
|-----------------------------------------------|--------|-------------------------|---------|--------|---------------|--------|
| ASSETS                                        |   |                    |    |   |          |   |
| Current Assets:                               |   |                    |    |   |          |   |
| Cash                                          |   | $                       | 11,876  |   |          | $      | 8,467 |   |
| Certificates of deposit                       |   |                    | 267,000 |   |          |   | 536,000 |   |
| Prepaid expense                               |   |                    | -       |   |          |   | 2,100 |   |
|      Total current assets |   |                    | 278,876 |   |          |   | 546,567 |   |

|                                                        |   |   |       |   |   |   |
|-------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
| Fixed Assets:                                               |   |   |       |   |   |   |
| Automotive equipment                                        |   |   | 25,859     |   |   |   | 25,859 |   |
| Less, accumulated depreciation                              |   |   | 23,335     |   |   |   | 21,560 |   |
|      Net fixed assets                   |   |   | 2,524      |   |   |   | 4,299 |   |
|                                                        |   |   |       |   |   |   |   |   |
| Other Assets:                                               |   |   |       |   |   |   |   |   |
| Employee advances                                           |   |   | 5,000      |   |   |   | 50,000 |   |
| Due from affiliate                                          |   |   | 42,917     |   |   |   | 37,944 |   |
|      Total other assets                 |   |   | 47,917     |   |   |   | 87,944 |   |
|                                                        |   |   |       |   |   |   |   |   |
| Total Assets                                                |   | $      | 329,317    |   |   | $      | 638,810 |   |
|                                                        |   |   |       |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                  |   |   |       |   |   |   |   |   |
|                                                        |   |   |       |   |   |   |   |   |
| Current Liabilities:                                        |   |   |       |   |   |   |   |   |
| Accounts payable                                            |   | $      | 6,249      |   |   | $      | 5,524 |   |
| Accrued expenses                                            |   |   | 27,535     |   |   |   | 21,206 |   |
| Payroll and other taxes payable                             |   |   | 19,104     |   |   |   | 10,332 |   |
| Loans from affiliate                                        |   |   | 2,330      |   |   |   | 2,060 |   |
|      Total current liabilities          |   |   | 55,218     |   |   |   | 39,122 |   |
|                                                        |   |   |       |   |   |   |   |   |
|  Stockholders’ Equity:                           |   |   |       |   |   |   |   |   |
| Common stock: authorized 100,000,000 shares of .001 par     |   |   |       |   |   |   |   |   |
|     value; 44,000,816 issued and outstanding |   |   | 44,001     |   |   |   | 44,001 |   |
|                                                        |   |   |       |   |   |   |   |   |
| Additional paid in capital                                  |   |   | 4,693,652  |   |   |   | 4,693,652 |   |
| Deficit accumulated during development stage                |   |   | (588,599   | )      |   |   | (261,533 | ) |
| Deficit accumulated prior to development stage              |   |   | (3,879,122 | )      |   |   | (3,879,122 | ) |
| Other comprehensive income                                  |   |   | 1,755      |   |   |   | (348 | ) |
|                                                        |   |   |       |   |   |   |   |   |
| Total Amanasu Environment Corporation Stockholders' Equity  |   |   | 271,687    |   |   |   | 596,650 |   |
| Non controlling interest                               |   |   | 2,412      |   |   |   | 3,038 |   |
|                                                        |   |   |       |   |   |   |   |   |
|      Total Stockholders'equity          |   |   | 274,099    |   |   |   | 599,688 |   |
| Total Liabilities and Stockholders'Equity                   |   | $      | 329,317    |   |   | $      | 638,810 |   |

----

|                                                                                |   |   2010(Restated) |       |    |   2009 |   |       | January 1, 2009 (Date of Commencement of Development Stage) To December 31, 2010 Restated) |   |
|-------------------------------------------------------------------------------------|--------|----------------------------|------------|---------|------------------|--------|------------|--------------------------------------------------------------------------------------------|--------|
| Expenses                                                                            |   | $                          | 330,224    |    |             | $      | 280,509    |                                                                                       |   | $ | 610,733 |   |
|     Operating loss                                                   |   | $                          | (330,224   | )  |             |   | (280,509   | )                                                                                     |   |   | (610,733 | )  |
|                                                                                |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
| Other Income:                                                                       |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|     Interest income                                                  |   |                       | 2,532      |    |             |   | 10,120     |                                                                                       |   |   | 12,652 |   |
|     Total other income                                               |   |                       | 2,532      |    |             |   | 10,120     |                                                                                       |   |   | 12,652 |   |
|         Net loss                            |   | $                          | (327,692   | )       |             | $      | (270,389   | )                                                                                          |   |   | (598,081 | ) |
|                                                                                |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|         Net loss attributable to            |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|           noncontrolling interest |   |                       | 626        |    |             |   | 8,856      |                                                                                       |   |   | 9,482 |   |
|         Net loss attributable to            |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|           Amanasu Environment     |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|             Corporation |   |                       | (327,066   | )  |             |   | (261,533   | )                                                                                          |   |   | (588,599 | ) |
| Other Comprehensive Income -                                                        |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|     Gain on foreign exchange                                    |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|        conversion                                |   |                       | 2,103      |    |             |   | 6,232      |                                                                                       |   |   | 8,335 |   |
| Total comprehensive loss                                                            |   | $                          | (324,963   | )       |             | $      | (255,301   | )                                                                                          |   | $ | (580,264 | ) |
| Net loss per share – basic and                                                |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|        diluted                                        |   | $                          | (.01       | )       |             | $      | (.01       | )                                                                                          |   |   |   |   |
|  Average number of shares                                                 |   |                       |       |    |             |   |       |                                                                                       |   |   |   |   |
|        outstanding                                    |   |                       | 44,000,816 |    |             |   | 44,000,816 |                                                                                       |   |   |   |   |

----

|                             |   |         |       |   |    |   |   |        |   |   | Deficit     |   |   | Deficit       |     |   |           |   |       |     |   |   |   |   |
|----------------------------------|--------|--------------|------------|--------|---------|--------|--------|-------------|--------|--------|-------------|--------|--------|---------------|----------|--------|----------------|--------|------------|----------|--------|--------|--------|--------|
|                             |   |         |       |   |    |   |   |        |   |   | Accumulated |   |   | Accumulated   |     |   | Accumulated    |   |       |     |   |   |   |   |
|                             |   |         |       |   |    |   |   | Additional  |   |   | During      |   |   | Prior To      |     |   | Other          |   |       |     |   |   |   |   |
|                             |   | Common Stock |       |   | Paid In |   |   | Development |   |   | Development |   |   | Comprehensive |     |   | Noncontrolling |   |       |     |   |
|                             |   | Shares       |       |   | Amount  |   |   | Capital     |   |   | Stage       |   |   | Stage         |     |   | Income         |   |       | Interest |   |   | Total  |   |
|                             |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |
| Balance, December 31,2008        |   |         | 44,000,816 |   |    | $      | 44,001 |        |   | $      | 4,634,223   |   |   | $             | -        |   |           | $      | (3,879,122 | )        |   | $      | 1,130  |   |   | $ | 5,328 |   |   | $ | 805,560 |   |
| Net loss for year                |   |         |       |   |    |   |   |        |   |   |        |   |   |          | (261,533 | )      |           |   |       |     |   |   |   |   |   |   | (8,856 | ) |   |   | (270,389 | ) |
| Transfer on sale of              |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
|   Subsidiary           |   |         |       |   |    |   |   |        |   |   | 59,429      |   |   |          |     |   |           |   |       |     |   |   | 6,232  |   |   |   | 623 |   |   |   | 66,284 |   |
|                             |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive              |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
|     Income   |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   | (7,710 | )      |   |   | 5,943 |   |   |   | (1,767 | ) |
|                             |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
|                             |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
|  Balance, Devember 31, 2009 |   |         | 44,000,816 |   |    |   | 44,001 |        |   |   | 4,693,652   |   |   |          | (261,533 | )      |           |   | (3,879,122 | )        |   |   | (348   | )      |   |   | 3,038 |   |   |   | 599,688 |   |
|  Net loss for year          |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   | (626 | ) |   |   | (327,692 | ) |
| Other comprehensive              |   |         |       |   |    |   |   |        |   |   |        |   |   |          | (327,066 | )      |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
|     Income   |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   | 2,103  |   |   |   |   |   |   |   | 2,103 |   |
|                             |   |         |       |   |    |   |   |        |   |   |        |   |   |          |     |   |           |   |       |     |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31, 2010       |   |         | 44,000,816 |   |    | $      | 44,001 |        |   | $      | 4,693,652   |   |   | $             | (588,599 | )      |           | $      | (3,879,122 | )        |   | $      | 1,755  |   |   | $ | 2,412 |   |   | $ | 274,099 |   |

----

|                                                                                          |   |  2010(Restated) |     |    |   2009 |   |     | January 1, 2009 (Date of Commencement of Development Stage) To December 31, 2010 (Restated) |   |
|-----------------------------------------------------------------------------------------------|--------|----------------------|----------|---------|------------------|--------|----------|---------------------------------------------------------------------------------------------|--------|
| CASH FLOWS FROM OPERATIONS                                                                    |   |                 |     |    |             |   |     |                                                                                        |   |
| Net loss                                                                                      |   | $                    | (327,692 | )  |             | $      | (270,389 | )                                                                                      |   | $ | (598,081 | ) |
| Adjustments to reconcile net loss to net cash consumed by operating activities:               |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Charges and credits not involving use of cash:                                                |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
|     Depreciation and amortization                                              |   |                 | 1,775    |    |             |   | 1,775    |                                                                                        |   |   | 3,550 |   |
|     Write offs of bad debts                                                    |   |                 | 50,000   |    |             |   | 86,031   |                                                                                        |   |   | 136,031 |   |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Changes in current assets and liabilities:                                                    |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
|          Decrease (increase) in prepaid expenses |   |                 | 2,100    |    |             |   | (2,100   | )                                                                                           |   |   | - |   |
|      Increase in accounts payable                                    |   |                 | -        |    |             |   | 5,443    |                                                                                        |   |   | 5,443 |   |
|      Increases in payroll and other taxes payable                    |   |                 | 6,891    |    |             |   | 3,958    |                                                                                        |   |   | 10,849 |   |
|      Increases in accrued expenses                                   |   |                 | 6,328    |    |             |   | 14,408   |                                                                                        |   |   | 20,736 |   |
|                                                                                |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Net Cash Consumed By                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
|     Operating Activities                                                       |   |                 | (260,598 | )  |             |   | (160,874 | )                                                                                      |   |   | (421,472 | ) |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Redemptions of certificates of deposit                                                        |   |                 | 269,000  |    |             |   | 160,000  |                                                                                        |   |   | 429,000 |   |
| Cash transferred on sale of subsidiary                                                        |   |                 | -        |    |             |   | (270     | )                                                                                           |   |   | (270 | ) |
| Increase in employee loans                                                                    |   |                 | (5,000   | )       |             |   |     |                                                                                        |   |   | (5,000 | ) |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Net Cash Provided By Investing                                                                |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
|   Activities                                                                        |   |                 | 264,000  |    |             |   | 159,730  |                                                                                        |   |   | 423,730 |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Proceeds of shareholder loan                                                                  |   |                 | -        |    |             |   | 855      |                                                                                        |   |   | 855 |   |
| Advances from affiliate                                                                       |   |                 | -        |    |             |   | 1,175    |                                                                                        |   |   | 1,175 |   |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Net Cash Provided By Financing Activities                                                     |   |                 | -        |    |             |   | 2,030    |                                                                                        |   |   | 2,030 |   |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Exchange Rate Effect on Cash                                                                  |   |                 | 7        |    |             |   | (2       | )                                                                                           |   |   | 5 |   |
| Net Change in Cash Balances                                                                   |   |                 | 3,409    |    |             |   | 884      |                                                                                        |   |   | 4,293 |   |
| Balance, beginning of period                                                                  |   |                 | 8,467    |    |             |   | 7,583    |                                                                                        |   |   | 7,583 |   |
|                                                                                          |   |                 |     |    |             |   |     |                                                                                        |   |   |   |   |
| Balance, end of period                                                                        |   | $                    | 11,876   |    |             | $      | 8,467    |                                                                                        |   | $ | 11,876 |   |

----

----

----

----

----

----

| AMANASU ENVIRONMENT CORPORATIONBALANCE SHEETDECEMBER 31, 2010 |   |
|---------------------------------------------------------------|--------|
|                                                          |   | Previously Reported |   |   | Adjustments |   |   | As Restated |   |
|                                                          |   |   |   |   |   |   |   |   |   |
| Cash                                                          |   |   |   |   |   |   |   |   |   |
| Certificates of deposit                                       |   | $ | 8,467 |   |   | $ | 3,409 |   |   | $ | 11,876 |   |
| Prepaid expense                                               |   |   | 536,000 |   |   |   | (269,000 | ) |   |   | 267,000 |   |
| Accumulated depreciation                                      |   |   | 2,100 |   |   |   | (2,100 | ) |   |   | - |   |
| Employee advances                                             |   |   | (21,560 | ) |   |   | (1,775 | ) |   |   | (23,335 | ) |
| Due from affiliate                                            |   |   | 50,000 |   |   |   | (45,000 | ) |   |   | 5,000 |   |
|                                                          |   |   | 37,944 |   |   |   | 4,973 |   |   |   | 42,917 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                                  |   | $ | 638,810 |   |   | $ | (309,493 | ) |   | $ | 329,317 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts payable                                              |   |   | 5,524 |   |   |   | 725 |   |   |   | 6,249 |   |
| Accrued expenses                                              |   |   | 21,206 |   |   |   | 6,329 |   |   |   | 27,535 |   |
| Payroll and other taxes payable                               |   |   | 10,332 |   |   |   | 8,772 |   |   |   | 19,104 |   |
| Loans from affiliate                                          |   |   | 2,060 |   |   |   | 270 |   |   |   | 2,330 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Current liabilities                                           |   |   | 39,122 |   |   |   | 16,096 |   |   |   | 55,218 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Accumulated deficit                                           |   |   | (4,140,655 | ) |   |   | 4,140,655 |   |   |   | - |   |
| Deficit accumulated prior to development stage                |   |   | - |   |   |   | (3,879,122 | ) |   |   | (3,879,122 | ) |
| Deficit accumulated during development stage                  |   |   | - |   |   |   | (588,599 | ) |   |   | (588,599 | ) |
| Other comprehensive income                                    |   |   | (348 | ) |   |   | 2,103 |   |   |   | 1,755 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Amanasu Environment equity                                    |   |   | 596,650 |   |   |   | (324,963 | ) |   |   | 271,687 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Non controlling interest                                      |   |   | 3,038 |   |   |   | (626 | ) |   |   | 2,412 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|         Total equity  |   |   | 599,688 |   |   |   | (325,589 | ) |   |   | 274,099 |   |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities and equity                                  |   |   | 638,810 |   |   |   | (309,493 | ) |   |   | 329,317 |   |

----

| AMANASU ENVIRONMENT CORPORATIONSTATEMENT OF OPERATIONS AND ACCUMULATED DEFICITYEAR ENDED DECEMBER 31, 2010 |   |
|------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                       |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
|                                                                                                       |   |   |   |   |   |   |   |   |   |
| Expenses                                                                                                   |   | $ | (280,509 | ) |   | $ | (49,715 | ) |   | $ | (330,224 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating loss                                                                                             |   |   | (280,509 | ) |   |   | (49,715 | ) |   |   | (330,224 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                                                            |   |   | 10,120 |   |   |   | (7,588 | ) |   |   | 2,532 |   |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                                   |   |   | (270,389 | ) |   |   | (57,303 | ) |   |   | (327,692 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss attributable to noncontrolling interest                                                               |   |   | 8,856 |   |   |   | (8,230 | ) |   |   | 626 |   |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss attributable to Amasasu                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|     Environment                                                                        |   |   | (261,533 | ) |   |   | (65,533 | ) |   |   | (327,066 | ) |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive income - gain on                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
|     foreign exchange                                                                   |   |   | 6,232 |   |   |   | (4,129 | ) |   |   | 2,103 |   |
|                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Total comprehensive loss                                                                                   |   | $ | (255,301 | ) |   | $ | (69,662 | ) |   | $ | (324,963 | ) |

----

| AMANASU ENVIRONMENT CORPORATIONSTATEMENT OF CASH FLOWSYEAR ENDED DECEMBER 31, 2010                               |   |
|------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                             |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Net loss                                                                                                         |   | $ | (270,389 | ) |   | $ | (57,303 | ) |   | $ | (327,692 | ) |
|     Write-offs of bad debts                                                                  |   |   | 86,031 |   |   |   | (36,031 | ) |   |   | 50,000 |   |
|     Increase (decrease) in other paid expenses                                               |   |   | (2,100 | ) |   |   | 4,200 |   |   |   | 2,100 |   |
|     Increase in accounts payable                                                             |   |   | 5,443 |   |   |   | (5,443 | ) |   |   |   |   |
|     Increase in payroll taxes                                                                |   |   | 3,958 |   |   |   | 2,933 |   |   |   | 6,891 |   |
|     Increase in accrued expenses                                                             |   |   | 14,408 |   |   |   | (8,080 | ) |   |   | 6,328 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash Consumed by Operating Activities                                                                            |   |   | (160,874 | ) |   |   | (99,724 | ) |   |   | (260,598 | ) |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Redemptions of certificates of deposit                                                                           |   |   | 160,000 |   |   |   | 109,000 |   |   |   | 269,000 |   |
| Cash transferred on sale of subsidiary                                                                           |   |   | (270 | ) |   |   | 270 |   |   |   | - |   |
|     Increase in employee loans                                                               |   |   | - |   |   |   | (5,000 | ) |   |   | (5,000 | ) |
| Cash provided by investing activities                                                                            |   |   | 169,730 |   |   |   | 104,270 |   |   |   | 264,000 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Financing activities:                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds of shareholder loan                                                                                     |   |   | 855 |   |   |   | (855 | ) |   |   | - |   |
| Advances from affiliate                                                                                          |   |   | 1,175 |   |   |   | (1,175 | ) |   |   | - |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash provided by financing activities                                                                            |   |   | 2,030 |   |   |   | (2,030 | ) |   |   | - |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Exchange rate effect on cash                                                                                     |   |   | -2 |   |   |   | 9 |   |   |   | 7 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Net change in cash                                                                                               |   |   | 884 |   |   |   | 2,525 |   |   |   | 3,409 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash balance, beginning of period                                                                                |   |   | 7,583 |   |   |   | 884 |   |   |   | 8,467 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash balance, end of period                                                                                      |   | $ | 8,467 |   |   | $ | 3,409 |   |   | $ | 11,876 |   |
|                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |
| Explanation of changes - The Company erroneously used the financials for another year in place of the year 2010. |   |

----

| AMANASU ENVIRONMENT CORPORATIONSTATEMENT OF OPERATIONS AND ACCUMULATED DEFICITDATA SINCE INCEPTION OF DEVELOPMENT STAGE |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                    |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |
| Expenses                                                                                                                |   | $ | 280,509 |   |   | $ | 330,224 |   |   | $ | 610,733 |   |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating loss                                                                                                          |   |   | (280,509 | ) |   |   | (330,224 | ) |   |   | (610,733 | ) |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                                                                         |   |   | 10,120 |   |   |   | 2,532 |   |   |   | 12,652 |   |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                                                |   |   | (270,389 | ) |   |   | (327,692 | ) |   |   | (598,081 | ) |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss attributable to noncontrolling interest                                                                            |   |   | 8,856 |   |   |   | 626 |   |   |   | 9,482 |   |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss attributable to Amasasu Environment                                                                 |   |   | (261,533 | ) |   |   | (327,066 | ) |   |   | (588,599 | ) |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive income - gain on                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|     foreign exchange                                                                                |   |   | 6,232 |   |   |   | 2,103 |   |   |   | 8,335 |   |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Total comprehensive loss                                                                                                |   |   | (255,301 | ) |   |   | (324,963 | ) |   |   | (580,264 | ) |
|                                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                    |   |

----

| AMANASU ENVIRONMENT CORPORATIONSTATEMENT OF CASH FLOWSDATA FROM INCEPTION TO DECEMBER 31, 2010 |   |
|------------------------------------------------------------------------------------------------|--------|
|                                                                                           |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Net loss                                                                                       |   | $ | (270,389 | ) |   | $ | (327,692 | ) |   | $ | (598,081 | ) |
| Depreciation and amortization                                                                  |   |   | 1,775 |   |   |   | 1,775 |   |   |   | 3,550 |   |
| Write-offs of bad debts                                                                        |   |   | 86,031 |   |   |   | 50,000 |   |   |   | 136,031 |   |
| Increase (decrease) in other paid expenses                                                     |   |   | (2,100 | ) |   |   | 2,100 |   |   |   | - |   |
| Increase in accounts payable                                                                   |   |   | 5,443 |   |   |   | - |   |   |   | 5,443 |   |
| Increase in payroll taxes                                                                      |   |   | 3,958 |   |   |   | 6,891 |   |   |   | 10,849 |   |
|     Increase in accrued expenses                                           |   |   | 14,408 |   |   |   | 6,328 |   |   |   | 20,736 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash Consumed by Operating Activities                                                          |   |   | (160,874 | ) |   |   | (260,598 | ) |   |   | (421,472 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Redemptions of certificates of deposit                                                         |   |   | 160,000 |   |   |   | 269,000 |   |   |   | 429,000 |   |
| Cash transferred on sale of subsidiary                                                         |   |   | (270 | ) |   |   | - |   |   |   | (270 | ) |
|                                                                                           |   |   |   |   |   |   | (5,000 | ) |   |   | (5,000 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash provided by investing activities                                                          |   |   | 159,730 |   |   |   | 264,000 |   |   |   | 423,730 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Financing activities:                                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds of shareholder loan                                                                   |   |   | 855 |   |   |   | - |   |   |   | 855 |   |
| Advances from affiliate                                                                        |   |   | 1,175 |   |   |   | - |   |   |   | 1,175 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash provided by financing activities                                                          |   |   | 2,030 |   |   |   | - |   |   |   | 2,030 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Exchange rate effect on cash                                                                   |   |   | -2 |   |   |   | 7 |   |   |   | 5 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net change in cash                                                                             |   |   | 884 |   |   |   | 3,409 |   |   |   | 4,293 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash balance, beginning of period                                                              |   |   | 7,583 |   |   |   | - |   |   |   | 7,583 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash balance, end of period                                                                    |   | $ | 8,467 |   |   | $ | 3,409 |   |   | $ | 11,876 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |

----

| Changes in Stockholders' Equity        |   |
|----------------------------------------|--------|
| Year Ended December 31, 2009           |   |
|                                   |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Accumulated Deficit:                   |   |   |   |   |   |   |   |   |   |
|     Ending balance |   | $ | (3,879,122 | ) |   | $ | (261,533 | ) |   | $ | (4,140,655 | ) |

| Changes in Stockholders' Equity                          |   |
|----------------------------------------------------------|--------|
| Year Ended December 31, 2009                             |   |
|                                                     |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Comprehensive Income:                                    |   |   |   |   |   |   |   |   |   |
|     Opening balance                  |   | $ | 109 |   |   | $ | 1,021 |   |   | $ | 1,130 |   |
|     Provision of 2009                |   |   | 28,022 |   |   |   | (35,732 | ) |   |   | (7,710 | ) |
|     Transfer upon sale of subsidiary |   |   | (27,001 | ) |   |   | 33,233 |   |   |   | 6,232 |   |
|     Ending balance                   |   | $ | 1,130 |   |   | $ | (1,478 | ) |   | $ | (348 | ) |

| Changes in Stockholders' Equity  |   |
|----------------------------------|--------|
| Year Ended December 31, 2009     |   |
|                             |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Noncontrolling interest          |   |   |   |   |   |   |   |   |   |
| Opening balance                  |   | $ | 34,100 |   |   | $ | (28,772 | ) |   | $ | 5,328 |   |
| Share of losses for year         |   |   | (28,874 | ) |   |   | 20,018 |   |   |   | (8,856 | ) |
| Transfer upon sale of subsidiary |   |   | (2,700 | ) |   |   | 3,323 |   |   |   | 623 |   |
| Share of comprehensive income    |   |   | 2,802 |   |   |   | 3,141 |   |   |   | 5,943 |   |
| Ending balance                   |   | $ | 5,328 |   |   | $ | (2,290 | ) |   | $ | 3,038 |   |

----

| Changes in Stockholders' Equity           |   |
|-------------------------------------------|--------|
| Year Ended December 31, 2009              |   |
|                                      |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Additional Paid in Capital:               |   |   |   |   |   |   |   |   |   |
|     Opening balance   |   | $ | 4,634,223 |   |   | $ | - |   |   | $ | 4,634,223 |   |
|     Reported activity |   |   | - |   |   |   | 59,429 |   |   |   | 59,429 |   |
|     Ending balance    |   | $ | 4,634,223 |   |   | $ | 59,429 |   |   | $ | 4,693,652 |   |

| Changes in Stockholders' Equity             |   |
|---------------------------------------------|--------|
| Year Ended December 31, 2010                |   |
|                                        |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Accumulated Deficit:                        |   |   |   |   |   |   |   |   |   |
|     Opening balance     |   | $ | (3,879,122 | ) |   | $ | (261,533 | ) |   | $ | (4,140,655 | ) |
|     Net loss for period |   |   | (261,533 | ) |   |   | (65,535 | ) |   |   | (327,066 | ) |
|     Ending balance      |   | $ | (4,140,655 | ) |   | $ | (327,068 | ) |   | $ | (4,467,721 | ) |

| Changes in Stockholders' Equity                        |   |
|--------------------------------------------------------|--------|
| Year Ended December 31, 2010                           |   |
|                                                   |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Other Comprehensive Income:                            |   |   |   |   |   |   |   |   |   |
|     Opening balance                |   | $ | 1,130 |   |   | $ | (1,478 | ) |   | $ | (348 | ) |
|     Gain for the period            |   |   | (7,700 | ) |   |   | 9,813 |   |   |   | 2,103 |   |
|     Transfer on sale of subsidiary |   |   | 6,232 |   |   |   | (6,232 | ) |   |   | - |   |
|     Ending balance                 |   | $ | (348 | ) |   | $ | 2,103 |   |   | $ | 1,755 |   |

----

| Changes in Stockholders' Equity |   |
|---------------------------------|--------|
| Year Ended December 31, 2010    |   |
|                            |   | PreviouslyReported |   |   | Adjustments |   |   | AsRestated |   |
| Noncontrolling interest         |   |   |   |   |   |   |   |   |   |
| Opening balance                 |   | $ | 5,328 |   |   | $ | (2,290 | ) |   | $ | 3,038 |   |
| Share of losses for year        |   |   | (8,856 | ) |   |   | 8,230 |   |   |   | (626 | ) |
| Ending balance 12/31/10         |   | $ | (3,528 | ) |   | $ | 5,940 |   |   | $ | 2,412 |   |

----

|                |   | U.S.   |    |   | JAPAN  |   |
|---------------------|--------|--------|---------|--------|--------|--------|
| Deferred Tax Assets |   | $      | 542,605 |   |   | $      | 417,775 |   |
| Valuation Allowance |   |   | 542,605 |   |   |   | 417,775 |   |
| Balance Recognized  |   | $      | -       |   |   | $      | - |   |

----

|   |   | U.S.   |    |   | JAPAN  |   |
|--------|--------|--------|---------|--------|--------|--------|
| 2010   |   | $      | -       |   |   | $      | - |   |
| 2011   |   |   | -       |   |   |   | - |   |
| 2012   |   |   | -       |   |   |   | 302,911 |   |
| 2013   |   |   | -       |   |   |   | 454,366 |   |
| 2014   |   |   | -       |   |   |   | 240,805 |   |
| 2015   |   |   | -       |   |   |   | 290,197 |   |
| 2016   |   |   | -       |   |   |   | 97,415 |   |
| 2017   |   |   | -       |   |   |   | 6,888 |   |
| 2018   |   |   | -       |   |   |   | - |   |
| 2019   |   |   | 2,703   |   |   |   | - |   |
| 2020   |   |   | 51,086  |   |   |   | - |   |
| 2021   |   |   | 224,737 |   |   |   | - |   |
| 2022   |   |   | 73,550  |   |   |   | - |   |
| 2023   |   |   | 110,126 |   |   |   | - |   |
| 2024   |   |   | 107,443 |   |   |   | - |   |
| 2025   |   |   | 598,417 |   |   |   | - |   |
| 2026   |   |   | 332,988 |   |   |   | - |   |
| 2027   |   |   | 553,371 |   |   |   | - |   |
| 2028   |   |   | 363,595 |   |   |   | - |   |
| 2029   |   |   | 135,200 |   |   |   | - |   |
| 2030   |   |   | 320,802 |   |   |   | - |   |

----

|               |   | 2010   |    |   | 2009   |   |
|--------------------|--------|--------|---------|--------|--------|--------|
|               |   |   |    |   |   |   |
| Travel             |   | $      | 257,973 |   |   | $      | 46,781 |   |
| Bad debt           |   |   | 50,000  |   |   |   | 86,031 |   |
| Legal fees         |   |   | 50,000  |   |   |   | - |   |
| Relocation expense |   |   | 36,760  |   |   |   | - |   |
| Professional fees  |   |   | 7,435   |   |   |   | 51,673 |   |
| Consulting fees    |   |   | 55,200  |   |   |   | 45,200 |   |
| Rent               |   |   | 51,649  |   |   |   | 34,944 |   |
| Office expenses    |   |   | 9,791   |   |   |   | 4,279 |   |
| Depreciation       |   |   | 1,775   |   |   |   | 1,775 |   |
| Taxes and duties   |   |   | 6,888   |   |   |   | 7,219 |   |
| Other expenses     |   |   | 2,753   |   |   |   | 2,607 |   |
| Total expenses     |   | $      | 330,224 |   |   | $      | 280,509 |   |

----

----

----

| Directors / Officers |
|----------------------|
| Name                 | Age | Since | Position |
| Atsushi Maki         | 62 | 1999 | Chairman & Chief Executive Officert |
| Lina Lei             | 49 |   1999 |   Secretary |

| Compensation Summary               |
|------------------------------------|
|                               | Annual Compensation |
| Name and Principle Position        | Year | Salary ($) | Bonus ($) | Other ($) |
| Atsushi Maki (Chairman, President) | 2009 | -0- | -0- | -0- |
|                               | 2008 | -0- | -0- | -0- |
|                               | 2007 | -0- | -0- | -0- |
|                               | 2006 | -0- | -0- | -0- |
|                               |   |   |   |   |
| Lina Lei (Secretary, Treasurer)    | 2009 | -0- | -0- | -0- |
|                               | 2008 | -0- | -0- | -0- |
|                               | 2007 | -0- | -0- | -0- |
|                               | 2006 | -0- | -0- | 20,000 |

----

| Title of Security | Name and Address of Beneficial Owner                                          | Amount and Nature of Beneficial Ownership (1) |   |       | Percent of Class |
|-------------------|-------------------------------------------------------------------------------|-----------------------------------------------|--------|------------|------------------|
| Common Stock      | Amanasu Corporation (2) #902 Ark Towers 1-3-40 Roppongi Minato-ku Tokyo Japan |                                          |   | 33,000,000 |             |   |   | 72.6 | % |
| Common Stock      | Atsushi Maki (3) (4)                                                          |                                          |   | 35,858,500 |             |   |   | 78.80 | % |
| Common Stock      | Lina Lei (4)                                                                  |                                          |   | 35,858,500 |             |   |   | 78.80 | % |
| Common Stock      | Officers and Directors, as a group (2 persons)                                |                                          |   | 35,858,500 |             |   |   | 78.80 | % |

|   | 1. Audit Fees during 2010 and 2009 were nil and $25,000, respectively. |
|--------|------------------------------------------------------------------------|

|   | 2. Audit Related Fees during 2010 and 2009 were $6,930 and $7,020 respectively. |
|--------|---------------------------------------------------------------------------------|

|   | 3. Caption Tax Fees during 2010 and 2009 were $690 and $675 respectively. |
|--------|---------------------------------------------------------------------------|

|   | 4. All Other Fees during 2010 and 2009 were $-0- and $-0- respectively. |
|--------|-------------------------------------------------------------------------|

|   | 5. N/A |
|--------|--------|

|   | (i) Disclose the audit committee's pre-approval policies and procedures described in paragraph (c)(7)(i) of Rule 2-01 of Regulation S-X. (ii) Disclose the percentage of services described in each of Items 9(e)(2) through 9(e)(4) of Schedule 14A that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. Not greater than 50% for 2010 and 2009. |
|--------|--------------------------------------------|

|   | If greater than 50 percent, disclose the percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The financial statements are set forth under Item 8 of this Annual Report on Form 10-K. Financial statement schedules have been omitted since they are either not required, not applicable, or the information is otherwise included. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3(i)(a) Articles of Incorporation of the Company (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001). |
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|   | 3(i)(b) Certificate of Amendment to Articles of Incorporation(Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001). |
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|   | 3(i)(c) Certificate of Amendment to Articles of Incorporation (Incorporated by reference to the Company's Form 10-KSB filed on March 31, 2003). |
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|   | 3(ii)(a) Amended and Restated By - Laws of the Company (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001). |
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|   | 10(i) Agreement between Family Corporation and the Company dated December 15, 1999. (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001). |
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|   | 10(ii) License agreement between the Company and Masaichi Kikuchi dated June 8, 2000. (Incorporated by reference to the Company's Form 10-SB filed on June 20,2001). |
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|   | 10(iii) Technical Consulting Agreement the Company and Masaichi Kikuchi dated June 9, 2001. (Incorporated by reference to the Company's Form 10-SB filed on June 20, 2001). |
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|   | 10(iv) Amendment No. 1 to Licensing Agreement dated July 30, 2001, however, effective June 8, 2000 by and between the Company and Masaichi Kikuchi. (Incorporated by reference to the Company's Form 10-SB/A filed on August 9, 2001). |
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|   | 10(v) License Agreement made as of September 30, 2002 by and between the Company and Sanyo Kogyo Kabushiki Gaisha and Ever Green Planet Corporation. (Incorporated by reference to the Company's Form 10-KSB filed on March 31, 2003). |
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|   | 10(vi) Addendum to License Agreement made as of September 30, 2002 by and between the Company and Sanyo Kogyo Kabushiki Gaisha and Ever Green Planet Corporation. (Incorporated by reference to the Company's Form 10-KSB filed on March 31, 2003). |
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|   | 10(vii) Stock Purchase Agreement dated May 14, 2003 by and between the Company and Jipangu, Inc. |
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|   | 10(viii) Desalination License Agreement made as of May 30, 2003 by and between the Company Etsuro Sakagami. (Incorporated by reference to the Company's Form 10-QSB filed on August 13, 2003). |
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|   | 31 Certification under Section 906 of the Sarbanes-Oxley Act. |
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|   | 32 Certification under Section 906 of the Sarbanes-Oxley Act. |
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