UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   Form 10-KSB

(Mark one)
[X] Annual Report Under Section 13 or 15(d) of The Securities Exchange Act
    of 1934

    For the fiscal year ended January 31, 2008

[ ] Transition Report Under Section 13 or 15(d) of The Securities Exchange Act
    of 1934

    For the transition period from ______________ to _____________

--------------------------------------------------------------------------------

                         Commission File Number: 0-30197


                       KIK Technology International, Inc.
        (Exact name of small business issuer as specified in its charter)

      California                                               91-2021602
(State of incorporation)                                (IRS Employer ID Number)

                      7393 18th Street, Burnaby, BC V3N 2Z4
                    (Address of principal executive offices)

                                 (403) 233-0468
                           (Issuer's telephone number)

--------------------------------------------------------------------------------

      Securities registered under Section 12 (b) of the Exchange Act: None

            Securities registered under Section 12(g) of the Exchange Act:
                          Common Stock $.001 par value

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

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure  will be contained,  to
the best of Company's knowledge,  in definitive proxy or information  statements
incorporated  by reference  in Part III of this Form 10-KSB or any  amendment to
this Form 10-KSB. [ ]

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

The issuer's revenues for the fiscal year ended January 31, 2008 were $953,236.

The aggregate market value of the voting common equity held by non-affiliates as
of April  25,  2008 was  approximately  $78,719  based  upon  25,321,865  shares
outstanding of which 7,871,865 are held by  non-affiliates  and a share price of
$0.01. No non-voting common equity is outstanding.

As of April 28, 2008,  there were  25,321,865  shares of Common Stock issued and
outstanding. There are no preferred shares outstanding.

Transitional Small Business Disclosure Format: Yes [ ] No [X]
<PAGE>
                       KIK TECHNOLOGY INTERNATIONAL, INC.

                                INDEX TO CONTENTS

                                                                           Page
                                                                          Number
                                                                          ------
PART I

Item 1   Description of Business                                             3

Item 2   Description of Property                                             5

Item 3   Legal Proceedings                                                   5

Item 4   Submission of Matters to a Vote of Security Holders                 5

PART II

Item 5   Market for Company's Common Equity, Related Stockholders Matters
          and Small Business Issuer Purchasers of Equity Securities          5

Item 6   Management's Discussion and Analysis or Plan of Operation           6

Item 7   Financial Statements                                                9

Item 8   Changes in and Disagreements with Accountants
          on Accounting and Financial Disclosure                             9

Item 8A  Controls and Procedures                                             9

PART III

Item 9   Directors, Executive Officers, Promoters and Control Persons;
          Compliance with Section 16(a) of the Exchange Act                 10

Item 10  Executive Compensation                                             11

Item 11  Security Ownership of Certain Beneficial Owners and Management
          and Related Stockholder Matters                                   12

Item 12  Certain Relationships and Related Transactions                     12

Item 13  Exhibits                                                           13

Item 14  Principal Accountant Fees and Services                             13

SIGNATURES                                                                  15

                                       2
<PAGE>
CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain  statements  contained  in  this  annual  filing,   including,   without
limitation, statements containing the words "believes", "anticipates", "expects"
and  words  of  similar  import,  constitute  forward-looking  statements.  Such
forward-looking  statements  involve known and unknown risks,  uncertainties and
other factors that may cause the actual results,  performance or achievements of
the Company,  or industry  results,  to be materially  different from any future
results,   performance   or   achievements   expressed   or   implied   by  such
forward-looking statements.

Such factors include, among others, the following:  international,  national and
local general economic and market conditions:  demographic  changes; the ability
of the Company to sustain,  manage or  forecast  its growth;  the ability of the
Company to successfully make and integrate acquisitions;  raw material costs and
availability;  new product  development and  introduction;  existing  government
regulations  and  changes  in,  or  the  failure  to  comply  with,   government
regulations;  adverse publicity;  competition; the loss of significant customers
or suppliers;  fluctuations  and  difficulty in forecasting  operating  results;
changes in business strategy or development  plans;  business  disruptions;  the
ability  to attract  and  retain  qualified  personnel;  the  ability to protect
technology; and other factors referenced in this and previous filings.

Given  these  uncertainties,  readers  of this Form  10-KSB  and  investors  are
cautioned not to place undue reliance on such  forward-looking  statements.  The
Company  disclaims  any  obligation  to update any such  factors or to  publicly
announce the result of any  revisions to any of the  forward-looking  statements
contained herein to reflect future events or developments.

                                     PART I

ITEM 1 - DESCRIPTION OF BUSINESS

BUSINESS DEVELOPMENT

KIK Technology  International,  Inc. (KTII) was incorporated on February 1, 2000
under   the  laws  of  the   State   of   California   as   Russian-Imports.com.
Russian-Imports.com  was  initially  founded to develop an  internet  e-commerce
website which would sell handmade  lacquer  boxes,  Matroshka  dolls and crystal
imported  from Russia.  This  business plan was  unsuccessful  and  subsequently
terminated.

On September 4, 2001, KTII (formerly Russian-Imports.com) issued 16,700,000
shares of restricted,  unregistered common stock to KIK Tire Technologies,  Inc.
(n/k/a KIK Polymers,  Inc.)(a  publicly-owned  Canadian  corporation) (KTTI) for
100.0%  of  the  issued  and  outstanding  stock  of  KIK  Technology,  Inc.  (a
wholly-owned subsidiary of KTTI). By virtue of this transaction, KIK Technology,
Inc.  became a  wholly-owned  subsidiary of KTII and KTTI became an  approximate
73.6%  shareholder  in  KTII  (subsequently  diluted  to  65.95%  by  reason  of
subsequent  issuances  of common  shares).  Concurrent  with  this  transaction,
Russian-Imports.com changed its name to KIK Technologies International, Inc.

Until 2008, KIK  Technology,  Inc.(KTI)  manufactured  and marketed an extensive
high  quality  line of  off-highway  micro-cellular  polyurethane  tires for the
healthcare, light industrial, lawn and garden and recreational industries from a
manufacturing plant and marketing offices located at Oceanside, California.

                                       3
<PAGE>
During  Fiscal 2006 and 2007,  the  Company  felt the full impact of a change in
it's  relationship  with ARNCO,  a Los  Angeles,  California  based  producer of
pneumatic  tire  sealants  and  foam-fill   compounds.   In  prior  years,   KIK
private-labeled  tires for ARNCO under ARNCO's  registered  trademark  "Carefree
Tire". This relationship  slowed  significantly  during Fiscal 2006 and ended in
Fiscal 2007;  it is reflected in the  Company's  results of  operations.  During
Fiscal  2007,  purchase  orders for  ARNCO-branded  tires  ceased and it was not
economically feasible to continue this line of business. In the third quarter of
Fiscal 2007, the Company terminated its manufacturing business and shut down its
plant and California marketing offices. As reflected in the financial statements
made part of this filing, the Company sold its manufacturing  assets,  inventory
and certain accounts receivable, recognizing financial gains and losses.

BUSINESS STRATEGY

The Company is pursuing and evaluating new business  opportunities and strategic
acquisitions or partnerships in a variety of fields.

PRODUCT

The Company no longer manufactures or markets any products.

THE COMPANY'S EQUIPMENT AND PRODUCTION LINE CAPABILITIES

PROPRIETARY TECHNOLOGY

The  Company had  operated  under  perpetual  licensing  agreements  with patent
holders  that cover  various  aspects of tire and  equipment  designs,  chemical
formulations and  manufacturing  processes.  These license  agreements have been
terminated.

MARKETING AND SALES DISTRIBUTION

The Company has no products and no marketing or distribution facilities.

ADVERTISING & PROMOTION

The Company does not advertise or promote  itself.  It's website is  operational
only to provide support for previous customers and consumers.

COMPETITION

The Company has no current business, and thus does not compete with anyone.

SOURCES AND AVAILABILITY OF RAW MATERIALS

The Company manufactures no products, so its sources and the availability of raw
materials are not material.

RESEARCH AND DEVELOPMENT

The Company manufactures no products and, at present, has no plans to do so; its
only  research  and  development   activities  relate  to  identifying  and,  if
appropriate, evaluating new business opportunities.

REGULATION AND ENVIRONMENTAL COMPLIANCE

The Company is subject to general local, state and federal regulations governing
environmental  concerns.  Management  believes  the  Company has always been and
continues to be in compliance  with all such laws.  Manufacture  of our products

                                       4
<PAGE>
was conducted in an environmentally  safe manner by design, and we anticipate no
sanction or exposure from the shuttering of our manufacturing facility.

EMPLOYEES

As of April 28, 2008, the Company had one full-time  employee,  its sole officer
and director, Donald Dean.

ITEM 2 - DESCRIPTION OF PROPERTY

The Company maintains its executive offices at 7393 18th Street, Burnaby, BC V3N
2Z4. Its telephone  number is (403) 233-0468.  The Company does not pay rent and
does not conduct substantive business activities from these offices.

ITEM 3 - LEGAL PROCEEDINGS

The Company may become  involved in various claims and legal actions  arising in
the ordinary  course of  business.  In the opinion of  management,  the ultimate
disposition  of these  matters will not have a material  adverse  impact  either
individually  or  in  the  aggregate  on  consolidated  results  of  operations,
financial position or cash flows of the Company.  As of the date of this filing,
the Company is not involved in any legal proceeding.

ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

The Company has not conducted any meetings of shareholders  during the preceding
quarter or periods subsequent thereto.

                                     PART II

ITEM 5 - MARKET FOR COMPANY'S COMMON EQUITY,  RELATED  STOCKHOLDERS  MATTERS AND
         SMALL BUSINESS ISSUER PURCHASERS OF EQUITY SECURITIES

As of April 28,  2008,  25,321,865  shares of $0.001 par value common stock (the
"Common  Stock")  of the  Company  outstanding  and  owned by  approximately  62
shareholders of record,  exclusive of shareholders holding their certificates in
street name.

Our Certificate of Incorporation  authorizes the issuance of 100,000,000  shares
of $0.001 par value common stock.  Our  Certificate  of  Incorporation  does not
allow for the  issuance of any class of  preferred  stock.  Holders of shares of
common  stock are entitled to one vote for each share on all matters to be voted
on by the  stockholders.  Holders of common stock have cumulative voting rights.
Holders of shares of common stock are entitled to share ratably in dividends, if
any,  as may be  declared,  from time to time by the Board of  Directors  in its
discretion,   from  funds  legally  available  therefor.   In  the  event  of  a
liquidation, dissolution, or winding up of the company, the holders of shares of
common stock are entitled to share pro rata all assets  remaining  after payment
in full of all liabilities.  Holders of common stock have no preemptive or other
subscription rights, and there are no conversion rights or redemption or sinking
fund provisions with respect to such shares.

During 2001,  the Company filed a request for clearance of quotations on the OTC
Bulletin Board under SEC Rule 15c2-11,  Subsection  (a)(5) with NASD  Regulation
Inc. A Clearance Letter was issued to the Company and was issued the trading
symbol  "KKTI".   Subsequently,   the  Company's   symbol  has  been  noted  for
non-compliance with the OTCBB Eligibility Rules, and received an "E" appended to
its symbol, on two occasions.

                                       5
<PAGE>
                                                               High        Low
                                                               ----        ---

FISCAL YEAR ENDED JANUARY 31, 2008
  First quarter 2008 (February 1, 2007 - April 30, 2007)      $0.015      $0.02
  Second quarter 2008 (May 1, 2007 - July 31, 2007)           $0.02       $0.01
  Third quarter 2008 (August 1, 2007 - October 31, 2007)      $0.015      $0.015
  Fourth quarter 2008 (November 1, 2007 - January 31, 2008)   $0.015      $0.01

FISCAL YEAR ENDED JANUARY 31, 2007
  First quarter 2007 (February 1, 2006 - April 30, 2006)      $0.03       $0.02
  Second quarter 2007 (May 1, 2006 - July 31, 2006)           $0.06       $0.016
  Third quarter 2007 (August 1, 2006 - October 31, 2006)      $0.022      $0.015
  Fourth quarter 2007 (November 1, 2006 - January 31, 2007)   $0.022      $0.015

DIVIDENDS

The Company has never paid or declared  any  dividends  on its common  stock and
does not anticipate paying cash dividends in the foreseeable future.

RECENT SALES OF UNREGISTERED SECURITIES

The Company did not issue any shares during the most recent fiscal year.

ITEM 6 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

OVERVIEW

During  Fiscal  2007 the  Company,  through  its  subsidiary,  had net  sales of
$953,236, slightly more than half of its Fiscal 2006 sales of $1,857,666.

Net  losses for the years  ended  January  31,  2008,  2007,  2006 and 2005 were
approximately $(785,960),  $(442,000),  $(381,000),  $(435,000),  $(199,000) and
($12,700),  respectively.  The net losses for Fiscal 2008,  2007,  2006 and 2005
each include a $120,000 charge for  administrative  services to the Company from
KIK  Polymers,Inc.   (formerly  KIK  Tire  Technologies   Inc.),  the  Company's
publicly-owned  Canadian majority shareholder.  The net loss per share of common
stock  outstanding  for  Fiscal  2008,  2007,  2006 and 2005 were  approximately
$(.04),  $(0.02),$(0.02)  and  $(0.02) per share,  respectively.  The losses for
Fiscal 2008 also include a $(663,417) charge for discontinued operations.

RESULTS OF OPERATIONS

The following  discussion and analysis of our financial condition and results of
operations  should  be read  in  conjunction  with  the  consolidated  financial
statements and notes.

YEAR ENDED JANUARY 31, 2008 AS COMPARED TO JANUARY 31, 2007

The Company  posted net sales of  approximately  $953,236 for the fiscal year
ended January 31, 2008,  and no revenues for sales in the year ended January 31,
2008.  This decrease  reflects the Company's  termination of its manufacture and
marketing  of  products.  The losses  incurred  during this  period  reflect the
administrative  and other costs associated with termination of its business,  as
well as  related  accounting  charges.  Absent an influx  of  capital  and a new
business, the Company does not foresee continuing operations of any manner.

                                       6
<PAGE>
RESTRUCTURED CONVERTIBLE NOTE

As noted in prior flings,  on February 16, 2004,  the Company  restructured  the
$50,000  convertible  note. Under the  restructured  terms, the Company paid all
accrued  interest and a $3,000  principal  reduction  on March 16,  2004,  as of
February  16,  2004.  The  Company is  obligated  to pay $2,000 per month,  plus
accrued interest, for the period from March 16, 2004 through August 16, 2004 and
$1,000 per month,  plus accrued  interest,  on the 16th of each month thereafter
until all  outstanding  amounts are paid in full.  The  restructured  note bears
interest  at 10.0% per annum.  The Company is making  interest-only  payments of
approximately  $314, which is less than the interest  accruing and is delinquent
in making the  required  principal  payments.  Accordingly,  the entire  debt is
classified as "current" in the accompanying consolidated financial statements.

The  $50,000  restructured  note is  convertible  into  shares of  unregistered,
restricted  common stock at the discretion of the Noteholder  with the Company's
consent,  provided that the daily average  (calculated  from the last sale price
daily) of the market price of the Company's common stock for any 30 calendar day
period equals or exceeds $1.00 per share,  with the conversion  being calculated
at a 50% discount of such 30 day average.

The $50,000  Noteholder  also has the  election to receive the monthly  interest
payments in  restricted,  unregistered  common stock of the Company at the daily
average  (calculated  from the last sale price daily) of the market price of the
Company's  common stock for the 30 calendar day period prior to the interest due
date,  with the number of shares to be issued  calculated  at a 50%  discount of
such 30 day average.

The  $25,000  convertible  note is in default and no demand for payment has been
made  to  the  Company.  The  Company  continues  to  accrue  interest  on  this
convertible note in accordance with the original terms and conditions.

The aggregate maturities of the notes are as follows:

     Balance as of January 31, 2008          $ 68,000
     Less current portion                     (68,000)
                                             --------

     Long-term portion                       $     --
                                             ========

CRITICAL ACCOUNTING POLICIES

Financial  Reporting  Release  No.  60,  of the U. S.  Securities  and  Exchange
Commission,   requires  all  companies  to  include  a  discussion  of  critical
accounting policies or methods used in the preparation of financial  statements.
Note D to the Company's  Consolidated Financial Statements includes a summary of
the significant  accounting  policies and methods used in the preparation of the
Company's Consolidated Financial Statements. The following is a brief discussion
of the more significant accounting policies and methods used by the Company.

REVENUE RECOGNITION

Our  revenue  recognition  policy is  significant  because  our revenue is a key
component of our results of operations.  The Company recognized revenue from the
sale of tires and  accessories.  Revenue was  recognized  upon  shipment  to, or
receipt by  customers,  depending  upon  contractual  terms and when there is no

                                       7
<PAGE>
significant  uncertainty  regarding  the  consideration  to be received  and the
associated  costs to be  incurred.  Additionally,  we  provide  a  reduction  of
recorded revenue for billing adjustments and billing corrections.

ACCOUNTS RECEIVABLE

The Company  continuously  monitors  collections and payments from its customers
and  maintains an allowance  for  estimated  uncollectible  accounts  based upon
historical  experience and specific customer  collections  issues that have been
identified.

Since accounts  receivable  are  concentrated  in a relatively few customers,  a
significant  change in the  liquidity or financial  position of any one of these
customers  could have a material  adverse  impact on the  collectibility  of the
Company's  accounts  receivable and future  operating  results.  In the event of
complete  non-performance by any customer or customers,  the maximum exposure to
the Company would be the recorded amount of trade accounts  receivable  shown on
the balance sheet at the date of non-performance.

INVENTORIES

We have liquidated our existing inventory, recognizing a charge against revenues
for the difference between cost of production and sales costs.

STOCK-BASED COMPENSATION

Statement of Financial  Accounting Standards No. 123, Accounting for Stock Based
Compensation,  defines a fair-value  based method of accounting for  stock-based
employee  compensation  plans and  transactions  in which an entity  issues  its
equity  instruments  to  acquire  goods and  services  from  non-employees,  and
encourages  but does not  require  companies  to  record  compensation  cost for
stock-based employee compensation plans at fair value.

For periods  prior to  November  1, 2002,  the Company has chosen to account for
employee stock-based compensation using the intrinsic value method prescribed in
Accounting  Principles  Board Opinion No. 25 (APB No. 25),  Accounting for Stock
Issued  to  Employees,  and  related  interpretations.   Accordingly,   employee
compensation  cost for stock options and warrants is measured as the excess,  if
any, of the market  price of the  Company's  stock at the date of the grant over
the amount an employee must pay to acquire the stock. This treatment was allowed
under Statement of Financial Accounting Standards No. 123, "Accounting for Stock
Based Compensation" (SFAS 123).

In December 2002, FASB issued  Statement of Financial  Accounting  Standards No.
148 "Accounting for Stock-Based  Compensation - Transition and Disclosure" (SFAS
148).  This  statement  amends  SFAS 123 and  provides  alternative  methods  of
transition  for a voluntary  change to the fair value based method of accounting
for stock-based employee compensation. This statement also amends the disclosure
requirements  of SFAS 123 to require more prominent and frequent  disclosures in
financial  statements  about  the  effects  of  stock-based  compensation.   The
transition  guidance and annual disclosure  provisions of SFAS 148 are effective
for financial statements issued for fiscal years ending after December 15, 2002.
Effective November 1, 2003, the first day of the reporting quarter including the
effective  date of SFAS 148, the Company's  Board of Directors,  in  conjunction
with public  opinion and SFAS 148,  elected to expense the imputed  compensation
cost  related to any stock  options  granted  during  Fiscal 2003 and for future
periods.  The Company did not issue any stock options during Fiscal 2003 and the
adoption of SFAS 148 did not have a material impact on our results of operations
or financial condition.

                                       8
<PAGE>
In December  2004,  the FASB issued SFAS  123(R),  "Share-Based  Payment."  SFAS
123(R)  amends SFAS 123,  "Accounting  for  Stock-Based  Compensation,"  and APB
Opinion 25,  "Accounting  for Stock Issued to Employees."  SFAS 123(R)  requires
that  the  cost  of  share-based  payment  transactions  (including  those  with
employees and  non-employees)  be recognized in the financial  statements.  SFAS
123(R)  applies  to all  share-based  payment  transactions  in which an  entity
acquires  goods or services by issuing (or offering to issue) its shares,  share
options,  or other equity  instruments  (except for those held by an ESOP) or by
incurring  liabilities  (1) in amounts  based (even in part) on the price of the
entity's  shares  or  other  equity  instruments,  or (2) that  require  (or may
require)  settlement  by the  issuance  of an  entity's  shares or other  equity
instruments.  This statement is effective (1) for public companies qualifying as
SEC small  business  issuers,  as of the  first  interim  period or fiscal  year
beginning after December 15, 2005, or (2) for all other public companies,  as of
the first interim  period or fiscal year  beginning  after June 15, 2005, or (3)
for all nonpublic entities, as of the first fiscal year beginning after December
15,  2005.  Management  anticipates  no  significant  impact  to  the  Company's
financial statements upon the adoption of SFAS No. 123(R).

NEW AND PENDING ACCOUNTING PRONOUNCEMENTS

The   Company  is  of  the  opinion   that  any  and  all   pending   accounting
pronouncements,  either in the adoption phase or not yet required to be adopted,
will not have a  significant  impact  on the  Company's  financial  position  or
results of operations.

ITEM 7 - FINANCIAL STATEMENTS

The  required  consolidated  financial  statements  begin  on  Page  F-1 of this
document.

ITEM 8 - CHANGES  IN AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
         FINANCIAL DISCLOSURE

Pursuant  to the  partner  rotation  rules  and  requirements  of both the U. S.
Securities and Exchange Commission and Sarbanes-Oxley Act of 2002, the certified
public accounting firm of S. W. Hatfield,  CPA will be unable to continue as the
Company's  auditors,  effective at the  conclusion of the audit of the financial
statements for the year ended January 31, 2008, and its required  review of this
Form  10-KSB.  As of the time of its  resignation,  S. W.  Hatfield,  CPA had no
material  disagreements  with the Company,  and has made the  necessary  reports
regarding its resignation to the Commission. The Company has not yet selected an
auditor to replace S. W. Hatfield, CPA.

ITEM 8A - CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures

The Company  maintains  disclosure  controls and procedures that are designed to
ensure that information  required to be disclosed in its Exchange Act reports is
recorded,  processed,  summarized and reported within the time periods specified
in the  Security  and  Exchange  Commission's  rules  and  forms,  and that such
information  is  accumulated  and  communicated  to  the  Company's  management,
including the Company's Chief Executive Officer and Chief Accounting Officer, as
appropriate, to allow timely decisions regarding required disclosure. Management
necessarily  applied its  judgment in  assessing  the costs and benefits of such
controls and  procedures,  which,  by their nature,  can provide only reasonable
assurance regarding management's control objectives.

                                       9
<PAGE>
The  Company  carried  out an  evaluation,  under the  supervision  and with the
participation of its management, including its Chief Executive Officer and Chief
Accounting  Officer,  on the  effectiveness  of the design and  operation of its
disclosure  controls  and  procedures  pursuant to Exchange Act Rules 13a-15 and
15d-15 as of the end of the  period  covered  by this  report.  Based  upon that
evaluation,  the Company's Chief Executive Officer and Chief Accounting  Officer
concluded that the Company's disclosure controls and procedures are effective in
timely  alerting  them to  information  relating to the  Company  required to be
included in the Company's Exchange Act reports.

While the Company believes that its existing  disclosure controls and procedures
have been  effective to  accomplish  their  objectives,  the Company  intends to
continue to examine,  refine and document its disclosure controls and procedures
and to monitor ongoing developments in this area.

(b)  Changes in Internal Controls

During the quarter  ended  January 31,  2008,  there were no changes  (including
corrective   actions  with  regard  to  significant   deficiencies  or  material
weaknesses) in the Company's internal control over financial reporting that have
materially  affected,  or  are  reasonably  likely  to  materially  affect,  the
Company's internal control over financial reporting.

ITEM 9 - DIRECTORS,   EXECUTIVE  OFFICERS,   PROMOTERS  AND  CONTROL  PERSONS;
         COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT

          Name                    Age             Position
          ----                    ---             --------
     Donald P. Dean               71      Chairman and Director

DONALD P. DEAN,  P. ENG.  Donald P. Dean  serves as  Secretary,  Chairman of the
Board and Director of KIK  Technology  International,  Inc. He has been with KIK
Technology  International,  Inc.  since  1987.  From 1984 to 1987,  he served as
President of Jade Marble Crafts Ltd., a  manufacturer  of polyester  resin-based
plastic  products and Twin Top Industries  Ltd. Twin Top was a  manufacturer  of
polyurethane foam insulated fiberglass well-head shelters and buildings.  During
the 1960's Mr. Dean worked as an  engineer,  distribution  supervisor  and plant
manager of the Toronto  Marketing and Chemical  Distribution  Terminal for Shell
Canada Limited. Subsequently, he was President of a subsidiary of Trimac Limited
providing  worldwide  transportation  and  logistics  planning,  and  management
consulting  services  to  government  and  industry.  Mr.  Dean is a  registered
professional  engineer.  He  received  a B.Sc.  in  civil  engineering  from the
University of Saskatchewan in 1960. Mr. Dean is also an executive officer of KIK
Polymers,   Inc.   (formerly  KIK  Tire   Technologies   Inc.),   the  Company's
publicly-owned Canadian majority shareholder.

COMPLIANCE WITH SECTION 16(A) OF THE SECURITIES EXCHANGE ACT OF 1934

No Director,  Officer,  Beneficial  Owner of more than ten percent  (10%) of any
class of  securities  of the Company  has filed any of the  reports  required by
Section  16(a) of the Exchange  Act during the most recent  fiscal year or prior
fiscal years.

INVOLVEMENT ON CERTAIN MATERIAL LEGAL PROCEEDINGS DURING THE PAST FIVE (5) YEARS

     (1)  No director,  officer,  significant  employee or  consultant  has been
          convicted in a criminal proceeding, exclusive of traffic violations or
          is subject to any pending criminal proceeding.

                                       10
<PAGE>
     (2)  No bankruptcy  petitions have been filed by or against any business or
          property of any director, officer,  significant employee or consultant
          of the Company nor has any  bankruptcy  petition  been filed against a
          partnership or business  association  where these persons were general
          partners or executive officers.
     (3)  No director,  officer,  significant  employee or  consultant  has been
          permanently or temporarily  enjoined,  barred,  suspended or otherwise
          limited  from  involvement  in any  type of  business,  securities  or
          banking activities.
     (4)  No director,  officer or  significant  employee has been  convicted of
          violating a federal or state securities or commodities law.

ITEM 10 - EXECUTIVE COMPENSATION

The  following  summary   compensation  table  sets  forth  the  aggregate  cash
compensation  paid or accrued by the Company to each of the Company's  executive
officers for services  rendered to the Company during the Company's fiscal years
ended  2008,  2007 and 2006and all plan and  non-plan  compensation  awarded to,
earned by or paid to certain designated executive officers.

                           SUMMARY COMPENSATION TABLE

<TABLE>
<CAPTION>
                                                                                      Changes in
                                                                                       Pension
                                                                                      Value and
                                                                                     Nonqualified
 Name and                                                             Non-Equity       Deferred
 Principal                                    Stock      Option     Incentive Plan   Compensation     All Other
 Position     Year  Salary ($)   Bonus($)   Awards($)   Awards($)   Compensation($)   Earnings($)   Compensation($)  Total($)
 --------     ----  ----------   --------   ---------   ---------   ---------------   -----------   ---------------  --------
<S>          <C>   <C>           <C>       <C>          <C>         <C>              <C>            <C>              <C>
Donald P.     2008   $     -0-   $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $    -0-      $     -0-
Dean,         2007   $     -0-   $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $    -0-      $     -0-
Chairman and  2006   $     -0-   $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $    -0-      $     -0-
Director

William P.    2008   $     -0-   $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $15,000       $158,000
Knooihuizen,  2007   $143,000    $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $15,000       $158,000
President     2006   $143,000    $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $15,000       $158,000

Kuldip C.     2008   $ 72,000    $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $    -0-      $ 72,000
Baid, Chief   2007   $ 72,000    $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $    -0-      $ 72,000
Financial     2006   $ 72,000    $  -0-      $  -0-      $  -0-        $  -0-           $  -0-         $    -0-      $ 72,000
Officer
</TABLE>

The Company has no other Executive  Compensation  issues which would require the
inclusion of other mandated table disclosures.

COMPENSATION OF DIRECTORS

The Company has no  standard  arrangements  for  compensating  directors  of the
Company for their attendance at meetings of the Board of Directors.

                                       11
<PAGE>
ITEM 11 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The  following  table shows,  as of April 28,  2008,  the shares of Common Stock
beneficially owned by all of the persons who served as the directors or officers
of the Company during Fiscal 2007 as well as the principal shareholders (greater
than 5%) of the Company individually and, as to the directors and officers, as a
group. The address of each person or entity,  unless otherwise noted, is c/o KIK
Technology International, Inc., 7393 18th Street, Burnaby, BC V3N 2Z4.

The number of shares  beneficially  owned by each person or entity is determined
under rules of the Securities and Exchange  Commission,  and the  information is
not necessarily  indicative of beneficial ownership for any other purpose. Under
such rules,  beneficial ownership includes any shares as to which the person has
the sole or shared  voting power or  investment  power and also any shares which
the  person  has the right to  acquire  as of a date  within  60 days  after the
relevant date through the exercise of any stock option or other right.

 % of Class
Name and address                   Number of Shares           Beneficially Owned
----------------                   ----------------           ------------------

KIK Polymers, Inc. (1)                16,700,000                    65.95%
Donald P. Dean                           250,000                     0.99%
William M. Knooihuizen                   250,000                     0.99%
Kuldip C. Baid                           250,000                     0.99%
All officers and directors            17,450,000                    68.91%
 as a group (1)

----------
(1)  Donald P. Dean is an Executive Officer of KIK Polymers,  Inc. (formerly KIK
     Tire Technologies  Inc.), and as such, may be deemed to have voting control
     over the above listed shares by attribution. Mr. Knooihuizen resigned as an
     officer and director of the Company in January  2008.  Mr. Baid was also an
     executive  Officer of KIK Polymers,  Inc. until his  resignation  from this
     position during Fiscal 2007.

ITEM 12 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

In May 2001, the Company advanced $53,400 to its President, William Knooihuizen,
to hold in trust as a  contingency  fund for the sole use of the  Company in the
event of a  unanticipated  cash  shortfall.  The advance bears  interest at 4.0%
annually and is unsecured. The original documentation required repayment of the
advance and accrued,  but unpaid,  interest in May 2003. In December  2007,  the
Company's  President,  with the approval of the  Company's  Board of  Directors,
utilized 100% of these funds to pay operational and personnel expenses.

During each of the years  ended  January 31,  2008,  2007 and 2006,  the Company
accrued  $120,000  payable  to its  majority  shareholder,  KIK  Polymers,  Inc.
(formerly KIK Tire Technologies  Inc.) (a publicly-owned  Canadian  corporation)
for administrative services.

                                       12
<PAGE>
ITEM 13 - EXHIBITS

Exhibits

  2.1     Acquisition agreement (3)
  3.1     Articles of Incorporation (1)
  3.2     Amendment to Articles of Incorporation (1)
  3.4     By-Laws (1)
  4.1     Form of Common Stock Certificate (2)
  4.2     Subscription Agreement of Rene Dervaes (3)
  5.1     Opinion of Kenneth G. Eade, Attorney at Law (including consent) (2)
  6.1     Specimen of Stock Certificate (2)
  10.1    Employee/Consultant Stock Compensation Plan (4)
  14.1    Code of Ethics (5)
  21.1    Subsidiaries of the Registrant
  23.1    Consent of Independent Accountant (2)
  23.2    Consent of Kenneth G. Eade (filed as part of Exhibit 5.1) (2)
  31.1    Certification  pursuant to Section 302 of Sarbanes-Oxley Act of 2002 -
          Chief Executive Officer
  31.2    Certification  pursuant to Section 302 of Sarbanes-Oxley Act of 2002 -
          Chief Financial Officer
  32.1    Certification pursuant to Section 906 of Sarbanes-Oxley Act of 2002
  98.1    Subscription Agreement of Rene Dervaes (3)

----------
(1)  Incorporated herein by reference to the Company's Registration Statement on
     Form 10-SB filed with the SEC on April 30, 2000.
(2)  Incorporated herein by reference to the Company's Registration Statement on
     Form SB-2 filed with the SEC on April 4, 2000.
(3)  Incorporated  herein by reference to the Company's 8-K current report filed
     with the SEC on December 18, 2000.
(4)  Incorporated herein by reference to the Company's Registration Statement on
     Form S-8 filed with the SEC on December 29, 2000.
(5)  Incorporated  herein by reference to the  Company's  Annual  Report on Form
     10-KSB for the year  ended  January  31,  2006 filed with the SEC on May 2,
     2006.

ITEM 14 - PRINCIPAL ACCOUNTANT FEES AND SERVICES

The Company paid or accrued the  following  fees in each of the prior two fiscal
years to it's principal accountant, S. W. Hatfield, CPA of Dallas, Texas:

                                 Year ended       Year ended
                                 January 31,      January 31,
                                    2008             2007
                                  -------          -------

    a)  Audit fees                $21,081          $21,119
    b)  Audit-related fees             --               --
    c)  Tax fees                       --               --
    d)  All other fees                 --               --
                                  -------          -------

        Totals                    $21,081          $21,119
                                  =======          =======

The Company has no formal audit committee. However, as defined in Sarbanes-Oxley
Act of 2002,  the entire  Board of  Directors  is the  Company's  defacto  audit
committee.

                                       13
<PAGE>
In discharging its oversight  responsibility as to the audit process,  the Board
obtained from the independent auditors a formal written statement describing all
relationships  between  the  auditors  and the  Company  that  might bear on the
auditors'  independence as required by Independence Standards Board Standard No.
1,  "Independence  Discussions with Audit  Committees." The Board discussed with
the  auditors  any   relationships   that  may  impact  their   objectivity  and
independence,  including fees for non-audit services, and satisfied itself as to
the  auditors'  independence.  The Board also  discussed  with  management,  the
internal  auditors and the independent  auditors the quality and adequacy of the
Company's  internal controls.  The Board reviewed with the independent  auditors
their management letter on internal controls, if one was issued by the Company's
auditors.

The Board  discussed  and  reviewed  with the  independent  auditors all matters
required to be discussed by auditing standards  generally accepted in the United
States of America,  including those described in Statement on Auditing Standards
No. 61, as amended, "Communication with Audit Committees".

The Board reviewed the audited consolidated  financial statements of the Company
as of and for the year ended January 31, 2007 and 2006,  with management and the
independent  auditors.  Management has the sole ultimate  responsibility for the
preparation of the Company's financial  statements and the independent  auditors
have the responsibility for their examination of those statements.

Based  on the  above-mentioned  review  and  discussions  with  the  independent
auditors and management,  the Board of Directors  approved the Company's audited
consolidated  financial  statements and recommended that they be included in its
Annual Report on Form 10-KSB for the year ended January 31, 2007 for filing with
the Securities and Exchange Commission.

The Company's principal accountant, S. W. Hatfield, CPA did not engage any other
persons or firms  other than the  principal  accountant's  full-time,  permanent
employees.


       (Financial statements start on the following page numbered " F-1")

                                       14
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY

                   INDEX TO CONSOLIDATED FINANCIAL STATEMENTS


                                                                            Page
                                                                            ----

Report of Registered Independent Certified Public Accounting Firm            F-2

Consolidated Financial Statements

   Consolidated Balance Sheets
      as of January 31, 2008 and 2007                                        F-3

   Consolidated Statements of Operations and Comprehensive Loss
      for the years ended January 31, 2008 and 2007                          F-4

   Consolidated Statement of Changes in Stockholders' Equity (Deficit)
      for the years ended January 31, 2008 and 2007                          F-5

   Consolidated Statements of Cash Flows
      for the years ended January 31, 2008 and 2007                          F-6

   Notes to Consolidated Financial Statements                                F-7


                                      F-1
<PAGE>
                        LETTERHEAD OF S. W. HATFIELD, CPA


        REPORT OF REGISTERED INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM

Board of Directors and Stockholders
KIK Technology International, Inc.

We have audited the  accompanying  consolidated  balance sheet of KIK Technology
International,  Inc. and Subsidiary (California  corporations) as of January 31,
2008  and  2007  and the  related  consolidated  statements  of  operations  and
comprehensive loss, changes in stockholders' equity (deficit) and cash flows for
each  of the  years  ended  January  31,  2008  and  2007,  respectively.  These
consolidated  financial  statements  are  the  responsibility  of the  Company's
management.  Our  responsibility is to express an opinion on these  consolidated
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  audit  to  obtain  reasonable  assurance  about  whether  the
consolidated 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 audits 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  consolidated  financial  statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall consolidated  financial statement
presentation.  We believe  that our audits  provide a  reasonable  basis for our
opinion.

The consolidated financial statements referred to above, in our opinion, present
fairly, in all material  respects,  the consolidated  financial  position of KIK
Technology  International,  Inc. and  Subsidiary as of January 31, 2008 and 2007
and the results of their consolidated  operations and cash flows for each of the
years  ended  January  31,  2008 and  2007,  respectively,  in  conformity  with
accounting principles generally accepted in the United States of America.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note C to the
financial  statements,  the Company  discontinued all operations within its sole
wholly-owned subsidiary as a direct effect of a lack of adequate working capital
and  the  absence  of  viable  sources  for  such.  This  circumstance   creates
substantial doubt about the Company's ability to continue as a going concern and
Management's  plans in regard to these matters are also described in Note C. The
financial  statements do not contain any adjustments  that might result from the
outcome of these uncertainties.


                                            /s/ S. W. Hatfield, CPA
                                            -------------------------------
                                            S. W. HATFIELD, CPA
Dallas, Texas
May 14, 2008

                                      F-2
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
                           CONSOLIDATED BALANCE SHEETS
                            January 31, 2008 and 2007

<TABLE>
<CAPTION>
                                                                     January 31,           January 31,
                                                                        2008                  2007
                                                                     -----------           -----------
<S>                                                                  <C>                   <C>
                                     ASSETS
CURRENT ASSETS
   Cash on hand and in bank                                          $        --           $        31
   Current assets of discontinued operations                                  --               368,702
                                                                     -----------           -----------
      TOTAL CURRENT ASSETS                                                    --               368,733
                                                                     -----------           -----------

OTHER ASSETS
   Property and equipment of discontinued operations,
    net of accumulated depreciation of approximately
    $563,796 and $564,846, respectively                                   53,566                81,875
   Other assets of discontinued operations                                    --                58,366
                                                                     -----------           -----------
      TOTAL OTHER ASSETS                                                  53,566               140,241
                                                                     -----------           -----------

TOTAL ASSETS                                                         $    53,566           $   508,974
                                                                     ===========           ===========

                 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
   Notes payable to investors                                        $    68,000           $    68,000
   Current liabilities of discontinued operations                        600,174               527,761
   Accounts payable - trade                                               23,472                 5,201
   Other accrued expenses                                                 16,198                10,970
   Management fee payable to majority stockholder                        600,000               480,000
   Advances from majority stockholder                                    330,640               216,000
                                                                     -----------           -----------
      TOTAL CURRENT LIABILITIES                                        1,638,484             1,307,932
                                                                     -----------           -----------

LONG-TERM DEBT                                                                --                    --
                                                                     -----------           -----------

     TOTAL LIABILITIES                                                 1,638,484             1,307,932
                                                                     -----------           -----------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY (DEFICIT)
   Common stock - $0.001 par value
    100,000,000 shares authorized
    25,321,865 shares issued and outstanding, respectively                25,322                25,322
   Additional paid-in capital                                          5,158,273             5,158,273
   Accumulated deficit                                                (6,768,513)           (5,982,553)
                                                                     -----------           -----------
      TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                            (1,584,918)             (798,958)
                                                                     -----------           -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                 $    53,566           $   508,974
                                                                     ===========           ===========
</TABLE>

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

                                      F-3
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
          CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
                      Years ended January 31, 2008 and 2007

<TABLE>
<CAPTION>
                                                          Year ended            Year ended
                                                          January 31,           January 31,
                                                             2008                  2007
                                                          -----------           -----------
<S>                                                       <C>                   <C>
REVENUES - net of returns and allowances                  $        --           $        --

COST OF SALES                                                      --                    --
                                                          -----------           -----------

GROSS PROFIT                                                       --                    --
                                                          -----------           -----------
OPERATING EXPENSES
   General and administrative expenses                         22,305                29,227
   Administrative service fee to majority stockholder         120,000               120,000
                                                          -----------           -----------
      TOTAL OPERATING EXPENSES                                142,305               149,227
                                                          -----------           -----------

LOSS FROM OPERATIONS                                         (142,305)             (149,227)

OTHER INCOME
   Interest expense                                           (10,238)               (6,800)
                                                          -----------           -----------

LOSS FROM CONTINUING OPERATIONS
 BEFORE PROVISION FOR INCOME TAXES                           (152,543)             (156,027)

PROVISION FOR INCOME TAXES                                         --                    --
                                                          -----------           -----------

LOSS FROM CONTINUING OPERATIONS                              (152,543)             (156,027)

DISCONTINUED OPERATIONS, NET OF INCOME TAXES
   Loss from discontinued operations,
    net of provision for income taxes of
    $-0- and $-0-,  respectively                             (328,244)             (286,021)
   Loss on disposition of discontinued operations,
    net of provision for income taxes of
    $-0- and $-0-, respectively                              (305,173)                   --
                                                          -----------           -----------

LOSS FROM DISCONTINUED OPERATIONS                            (633,417)             (286,021)
                                                          -----------           -----------

OTHER COMPREHENSIVE INCOME                                         --                    --
                                                          -----------           -----------

COMPREHENSIVE LOSS                                        $  (785,960)          $  (442,048)
                                                          ===========           ===========
Netloss per weighted-average share of
 common stock outstanding, calculated
 on Net Loss - basic and fully diluted
    From continuing operations                            $     (0.01)          $     (0.01)
    From discontinued operations                                (0.03)                (0.01)
                                                          -----------           -----------
      Total                                               $     (0.04)          $     (0.02)
                                                          ===========           ===========
Weighted-average number of shares
 of common stock outstanding                               25,321,865            25,247,892
                                                          ===========           ===========
</TABLE>

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

                                      F-4
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
       CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
                      Years ended January 31, 2008 and 2007

<TABLE>
<CAPTION>
                                         Common Stock           Additional
                                    ---------------------        paid-in       Accumulated
                                    Shares         Amount        capital         deficit             Total
                                    ------         ------        -------         -------             -----
<S>                               <C>             <C>          <C>             <C>               <C>
BALANCES AT FEBRUARY 1, 2006      25,171,865      $25,172      $5,152,423      $(5,540,505)      $  (362,910)

Issuance of common stock
 for consulting fees                 150,000          150           5,850               --             6,000

Net loss for the year                     --           --              --         (442,048)         (442,048)
                                  ----------      -------      ----------      -----------       -----------

BALANCES AT JANUARY 31, 2007      25,321,865       25,322       5,158,273       (5,982,553)         (798,958)

Net loss for the year                     --           --              --         (785,960)         (785,960)
                                  ----------      -------      ----------      -----------       -----------

BALANCES AT JANUARY 31, 2008      25,321,865      $25,322      $5,158,273      $(6,768,513)      $(1,584,918)
                                  ==========      =======      ==========      ===========       ===========
</TABLE>


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

                                      F-5
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                      Years ended January 31, 2008 and 2007

<TABLE>
<CAPTION>
                                                             Year ended          Year ended
                                                             January 31,         January 31,
                                                               2008                2007
                                                             ---------           ---------
<S>                                                          <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES
   Net loss for the year                                     $(785,960)          $(442,048)
   Adjustments to reconcile net loss to net cash
    provided by operating activities
      Depreciation and amortization                             29,118              30,366
      Provision for doubtful accounts receivable                18,415               1,989
      Loss on abandonment of operations                        305,173                  --
      Expenses paid with common stock                               --               6,000
   (Increase) Decrease in
      Accounts receivable - trade and other                    174,426             (33,902)
      Inventory                                                 10,149              53,985
      Prepaid expenses and other                                   226                (169)
   Increase (Decrease) in
      Accounts payable                                          44,669              85,710
   Other accrued expenses                                       (6,770)              7,901
      Accrued management fees to parent company                120,000             120,000
                                                             ---------           ---------
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES            (90,554)           (170,168)
                                                             ---------           ---------

CASH FLOWS FROM INVESTING ACTIVITIES
   Purchase of property and equipment                             (809)             (8,358)
                                                             ---------           ---------
NET CASH USED IN INVESTING ACTIVITIES                             (809)             (8,358)
                                                             ---------           ---------

CASH FLOWS FROM FINANCING ACTIVITIES
   Increase (Decrease) in cash overdraft                       (22,883)             22,883
   Cash received from parent company                           114,640             150,000
   Payments on long-term capital lease                            (425)             (4,517)
                                                             ---------           ---------
NET CASH USED IN FINANCING ACTIVITIES                           91,332             168,366
                                                             ---------           ---------

INCREASE (DECREASE) IN CASH                                        (31)            (10,160)

Cash at beginning of period                                         31              10,191
                                                             ---------           ---------

CASH AT END OF PERIOD                                        $      --           $      31
                                                             =========           =========
SUPPLEMENTAL DISCLOSURE OF
INTEREST AND INCOME TAXES PAID
   Interest paid for the period                              $      --           $   4,454
                                                             =========           =========
   Income taxes paid for the period                          $      --           $      --
                                                             =========           =========
</TABLE>


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

                                      F-6
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                            January 31, 2008 and 2007

NOTE A - ORGANIZATION AND DESCRIPTION OF BUSINESS

KIK Technology  International,  Inc. (KTII) was incorporated on February 1, 2000
under   the  laws  of  the   State   of   California   as   Russian-Imports.com.
Russian-Imports.com  was  initially  founded with a business  plan to develop an
internet  e-commerce  website  which proved  unsuccessful  and was  subsequently
terminated.

On September 4, 2001, KTII issued 16,700,000 shares of restricted,  unregistered
common stock to KIK Polymers,  Inc.  (formerly KIK Tire  Technologies,  Inc.) (a
publicly-owned Canadian corporation) (KIK Polymers) for 100.0% of the issued and
outstanding stock of KIK Technology,  Inc. (a wholly-owned  subsidiary of KTTI).
By  virtue of this  transaction,  KIK  Technology,  Inc.  became a  wholly-owned
subsidiary of KTII and KIK Polymers became the controlling stockholder in KTII.

On February 16, 2008, KIK Polymers sold 100% of its holdings in the Company,  or
the aforementioned  16,700,000 shares to AD Capital Industries Inc., of Burnaby,
BC,  Canada for a promissory  note in the amount of $230,000  and a  contingency
agreement for the collection of approximately $835,000 owed to the Seller by the
Company.

KIK  Technology,  Inc (KTI) was  incorporated in June 1988 under the laws of the
State of California.  KTI manufactures and markets an extensive and high quality
line of off-highway micro-cellular polyurethane tires for the healthcare,  light
industrial,  lawn and garden and  recreational  industries.  KTI operates from a
sole  manufacturing  plant and marketing  offices located in Oceanside,  CA. The
Company's  principal raw materials are produced from petroleum  feedstocks  and,
therefore,  are subject to disruption and price variances  related to the global
availability of crude oil.

On June 19,  2007,  the  Company  filed a Current  Report on Form 8-K  outlining
certain  negative  financial and  operational  trends.  In summary,  this filing
highlighted certain disclosures in our Annual Report on Form 10-KSB for the year
ended  January  31,  2007  (filed on or about  April 30,  2007)  related  to raw
material  price  increases  which we are not able to fully  pass  through to our
customers, the competitive pressures and difficulties in obtaining raw feedstock
materials and our decline in our gross profit margin. Further, through the third
quarter ended  October 31, 2007,  the Company  continued to experience  economic
pricing  pressures  caused by foreign  competition and increases in domestic raw
material  costs,  which are directly  related to the cost of crude oil from both
foreign and domestic markets.

The Company was unable to acquire  sufficient  additional  working  capital from
either outside  sources or its parent  company,  KIK Polymers,  Inc. of Calgary,
Alberta,  Canada and continued to experience  negative cash flows from operating
activities  which  negatively  impacted the Company's  ability to meet its daily
operational cash requirements.

In  the  third  quarter  of  Fiscal  2008,   the  landlord  of  the  office  and
manufacturing  facilities  of KIK  Technologies,  Inc.  evicted  the Company for
non-payment of contractually agreed-upon lease amounts. Accordingly, the Company
and its operating  subsidiary,  KIK Technology,  Inc., relocated into facilities
that were  available in the immediate  geographic  area to the former  location.
Unfortunately,  a single location of adequate size was unavailable and more than
one location had to be procured, causing a separation of the Company's warehouse
and shipping  location and the  Company's  production  equipment.  Additionally,
insufficient  space was  available to allow for the  placement of the  Company's
largest and most efficient production machine.  Accordingly,  all production was
attempted to be handled on smaller, less efficient equipment.

As of January 31, 2008,  the Company has ceased all  production  activities  and
began the liquidation of the operating assets of KIK Technology, Inc.

In conjunction with the aforementioned  change in control of the Company,  it is
anticipated  that a new  business  venture  will be placed  into the  Company in
future periods.

NOTE B - PREPARATION OF FINANCIAL STATEMENTS

The  Company  follows  the  accrual  basis  of  accounting  in  accordance  with
accounting principles generally accepted in the United States of America and has
adopted a year-end of January 31.

                                      F-7
<PAGE>
               KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                           January 31, 2008 and 2007

NOTE B - PREPARATION OF FINANCIAL STATEMENTS - CONTINUED

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America 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.

Management further acknowledges that it is solely responsible for adopting sound
accounting  practices,   establishing  and  maintaining  a  system  of  internal
accounting  control and preventing and detecting  fraud. The Company's system of
internal  accounting  control is designed to assure,  among other items, that 1)
recorded  transactions  are valid; 2) valid  transactions  are recorded;  and 3)
transactions  are  recorded in the proper  period in a timely  manner to produce
financial  statements which present fairly the financial  condition,  results of
operations  and cash  flows of the  Company  for the  respective  periods  being
presented

For  segment  reporting  purposes,  the Company  operated  in only one  industry
segment during the periods represented in the accompanying  financial statements
and makes all  operating  decisions and  allocates  resources  based on the best
benefit to the Company as a whole.

These  financial  statements  reflect  the books and  records of KIK  Technology
International,  Inc. (KTII) and KIK  Technology,  Inc. (KTI) as of and for years
ended  January 31, 2007 and 2006,  respectively.  All  significant  intercompany
transactions  have been eliminated in consolidation.  The consolidated  entities
are referred to as Company.

NOTE C - GOING CONCERN UNCERTAINTY

During  the  fourth  quarter  of Fiscal  2008,  as a direct  result of a lack of
working capital and difficulties in obtaining raw materials,  the Company ceased
all  operations  within its  wholly-owned  subsidiary,  KIK  Technologies,  Inc.
Accordingly, the Company has no revenue generating operations.

On February 16, 2008, the Company's controlling stockholder,  KIK Polymers, sold
100% of its  holdings in the Company,  approximately  16,700,000  shares,  to AD
Capital  Industries  Inc., of Burnaby,  BC, Canada for a promissory  note in the
amount  of  $230,000  and  a  contingency   agreement  for  the   collection  of
approximately $835,000 owed to the Seller by the Company.

As a result of the change in control  transaction,  the Company anticipates that
additional  working  capital  will be  necessary  to support  and  preserve  the
integrity of the  corporate  entity.  However,  there is no  assurance  that the
Company  will  be  able  to  obtain  additional   funding  through  either  bank
lines-of-credit  or the sale of  additional  equity  securities  or,  that  such
funding,  if available,  will be obtained on terms favorable to or affordable by
the Company.

If no additional  operating  capital is received  during the next twelve months,
the  Company  will be forced  to rely on  existing  cash in the  bank,  the cash
generated  from  operating  activities  and/or  additional  funds  loaned by the
Company's  majority parent to preserve the integrity of the corporate  entity at
this  time.  In the  event,  the  Company  is unable to  acquire  advances  from
management and/or  significant  stockholders,  the continued  maintenance of the
corporate entity may be ceased.

While the Company is of the opinion that good faith  estimates of the  Company's
ability to secure additional  capital in the future to reach our goals have been
made, there is no guarantee that the Company will receive  sufficient funding to
sustain operations or implement any future business plan steps.


                (Remainder of this page left blank intentionally)

                                      F-8
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. Cash and cash equivalents

     For  Statement of Cash Flows  purposes,  the Company  considers all cash on
     hand  and  in  banks,  certificates  of  deposit  and  other  highly-liquid
     investments with maturities of three months or less, when purchased,  to be
     cash and cash equivalents.

     Cash  overdraft  positions may occur from time to time due to the timing of
     making bank deposits and releasing checks, in accordance with the Company's
     cash management policies.

2. Accounts receivable and Revenue Recognition

     In the normal course of business,  the Company extended unsecured credit to
     virtually  all of its  customers  which are located  throughout  the United
     States  and are  principally  concentrated  in the  midwest  region  of the
     country.  Depending upon management's  assessment of  creditworthiness  and
     order  size,  certain  shipments  are  made on  "COD"  terms  using  common
     carriers.  Because of the credit risk involved,  management has provided an
     allowance for doubtful accounts which reflects its opinion of amounts which
     will   eventually   become   uncollectible.   In  the  event  of   complete
     non-performance, the maximum exposure to the Company is the recorded amount
     of trade  accounts  receivable  shown on the  balance  sheet at the date of
     non-performance.

     The Company  recognized revenue from the sale of tires and accessories upon
     shipment to, or receipt by customers,  depending upon contractual terms and
     when there is no significant  uncertainty regarding the consideration to be
     received and the associated costs to be incurred. Additionally, the Company
     recognizes   reductions  of  recorded  revenue  for  product  returns  from
     unsatisfied customers and other billing adjustments or corrections,  at the
     point that the  returned  products  are received by the Company or upon the
     completion of negotiations between the Company and it's customer.

3. Inventory

     Inventory consisted of raw materials,  principally chemical feedstocks, and
     finished  goods,  principally  tires and  accessories  manufactured  by the
     Company and other minor  miscellaneous  items  purchased  from  third-party
     vendors for resale as a component of the Company's products.

     Inventory  was  valued  at  the  lower  of  cost  or  market  value,  using
     principally the average cost method.

     In November 2004,  Financial  Accounting  Standards  Board ("FASB")  issued
     Statement  of  Financial  Accounting   Standards   ("STATEMENT")  No.  151,
     "INVENTORY  COSTS - AN AMENDMENT OF  ACCOUNTING  RESEARCH  BULLETIN NO. 43,
     CHAPTER 4."  Statement  No. 151 requires  that  abnormal  amounts of costs,
     including  idle facility  expense,  freight,  handling  costs and spoilage,
     should be  recognized as current  period  charges.  The  provisions of this
     Statement became effective for inventory costs incurred during fiscal years
     beginning after June 15, 2005. Statement No. 151 was adopted the Company on
     February 1, 2006.  There was no material impact resulting from the adoption
     of Statement No. 151 on the Company's financial statements.

4. Property and Equipment

     Property and  equipment are recorded at  historical  cost.  These costs are
     depreciated over the estimated useful lives, generally two (2) to seven (7)
     years, of the individual assets using the straight-line  method.  Gains and
     losses from the  disposition  of property  and  equipment  are  included in
     operations as incurred.

     In accordance  with  Statement of Financial  Accounting  Standards No. 144,
     "Accounting  for the  Impairment  or Disposal of  Long-Lived  Assets",  the
     Company  follows the policy of evaluating  all property and equipment as of
     the end of each reporting quarter.  For each of the years ended January 31,
     2008 and 2007, no charges to operations  were made for  impairments  in the
     future benefit or recoverability of property and equipment.

                                      F-9
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

5. Income Taxes

     The Company uses the asset and liability  method of  accounting  for income
     taxes.  At January 31, 2008 and 2007,  the  deferred tax asset and deferred
     tax  liability  accounts,  as  recorded  when  material  to  the  financial
     statements,  are entirely the result of  temporary  differences.  Temporary
     differences   represent  differences  in  the  recognition  of  assets  and
     liabilities for tax and financial reporting purposes, primarily accumulated
     depreciation and amortization, allowance for doubtful accounts and vacation
     accruals.

     As of January  31, 2008 and 2007,  the  deferred  tax asset  related to the
     Company's net operating loss carryforward is fully reserved.

6. Advertising costs

     The Company does not conduct any direct  response  advertising  activities.
     For non-direct response advertising, the Company charges the costs of these
     efforts  to  operations  at the  first  time  the  related  advertising  is
     published.

7. Earnings (loss) per share

     Basic  earnings  (loss) per share is computed  by  dividing  the net income
     (loss) available to common stockholders by the  weighted-average  number of
     common shares  outstanding  during the respective  period  presented in our
     accompanying financial statements.

     Fully diluted earnings (loss) per share is computed similar to basic income
     (loss) per share  except that the  denominator  is increased to include the
     number of common  stock  equivalents  (primarily  outstanding  options  and
     warrants).

     Common  stock  equivalents  represent  the  dilutive  effect of the assumed
     exercise of the outstanding stock options and warrants,  using the treasury
     stock method, at either the beginning of the respective period presented or
     the date of  issuance,  whichever  is later,  and only if the common  stock
     equivalents  are  considered  dilutive  based upon the Company's net income
     (loss) position at the calculation date.

     As of January  31,  2008 and 2007,  the  Company's  issued and  outstanding
     warrants,  options and convertible debt are considered  antidilutive due to
     the Company's net operating loss position.

8. Employee Stock Options

     For periods  prior to November  1, 2002,  the Company  chose to account for
     employee   stock-based   compensation  using  the  intrinsic  value  method
     prescribed  in  Accounting  Principles  Board  Opinion No. 25 (APB No. 25),
     Accounting  for Stock  Issued to  Employees,  and related  interpretations.
     Accordingly,  employee  compensation cost for stock options and warrants is
     measured as the excess,  if any, of the market price of the Company's stock
     at the date of the grant  over the amount an  employee  must pay to acquire
     the  stock.  This  treatment  was  allowed  under  Statement  of  Financial
     Accounting  Standards No. 123,  "Accounting  for Stock Based  Compensation"
     (SFAS 123).

     In December 2002, FASB issued Statement of Financial  Accounting  Standards
     No.  148  "Accounting   for  Stock-Based   Compensation  -  Transition  and
     Disclosure"  (SFAS  148).  This  statement  amends  SFAS  123 and  provides
     alternative  methods of transition for a voluntary change to the fair value
     based method of accounting  for  stock-based  employee  compensation.  This
     statement  also amends the disclosure  requirements  of SFAS 123 to require
     more prominent and frequent  disclosures in financial  statements about the
     effects of stock-based  compensation.  The  transition  guidance and annual
     disclosure  provisions of SFAS 148 are  effective for financial  statements
     issued for fiscal years ending after December 15, 2002.  Effective November
     1, 2003,  the first day of the  reporting  quarter  including the effective
     date of SFAS 148, the Company's  Board of Directors,  in  conjunction  with
     public  opinion and SFAS 148,  elected to expense the imputed  compensation
     cost related to any stock options granted during Fiscal 2003 and for future
     periods. The Company has not issued any stock options since the adoption of
     SFAS 148 and has not  experienced  a  material  impact  on our  results  of
     operations or financial condition.

                                      F-10
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE D - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

9. New and Pending Accounting Pronouncements

     The  Company  is of  the  opinion  that  any  and  all  pending  accounting
     pronouncements,  either in the  adoption  phase or not yet  required  to be
     adopted,  will not have a  significant  impact on the  Company's  financial
     position or results of operations.

NOTE E - DISCONTINUED OPERATIONS

On June 19,  2007,  the  Company  filed a Current  Report on Form 8-K  outlining
certain  negative  financial and  operational  trends.  In summary,  this filing
highlighted certain disclosures in our Annual Report on Form 10-KSB for the year
ended  January  31,  2007  (filed on or about  April 30,  2007)  related  to raw
material  price  increases  which we are not able to fully  pass  through to our
customers, the competitive pressures and difficulties in obtaining raw feedstock
materials and our decline in our gross profit margin. Further, through the third
quarter ended  October 31, 2007,  the Company  continued to experience  economic
pricing  pressures  caused by foreign  competition and increases in domestic raw
material  costs,  which are directly  related to the cost of crude oil from both
foreign and domestic markets.

The Company was unable to acquire  sufficient  additional  working  capital from
either outside  sources or its parent  company,  KIK Polymers,  Inc. of Calgary,
Alberta,  Canada and continued to experience  negative cash flows from operating
activities  which  negatively  impacted the Company's  ability to meet its daily
operational cash requirements.

In  the  third  quarter  of  Fiscal  2008,   the  landlord  of  the  office  and
manufacturing  facilities  of KIK  Technologies,  Inc.  evicted  the Company for
non-payment of contractually agreed-upon lease amounts. Accordingly, the Company
and its operating  subsidiary,  KIK Technology,  Inc., relocated into facilities
that were  available in the immediate  geographic  area to the former  location.
Unfortunately,  a single location of adequate size was unavailable and more than
one location had to be procured, causing a separation of the Company's warehouse
and shipping  location and the  Company's  production  equipment.  Additionally,
insufficient  space was  available to allow for the  placement of the  Company's
largest and most efficient production machine.  Accordingly,  all production was
attempted to be handled on smaller, less efficient equipment.

As of January 31, 2008,  the Company has ceased all  production  activities  and
began  the  liquidation  of  the  operating  assets  of  KIK  Technology,   Inc.
Accordingly,  the  operations  of KIK  Technology,  Inc.  are are  reflected  as
"Discontinued  Operations"  in the  accompanying  statements of  operations  and
comprehensive loss.

Summarized results of operations for the disposed operations for the years ended
January 31, 2008 and 2007, respectively, are as follows:

                                             January 31,          January 31,
                                                2008                 2007
                                             ----------           ----------
     Net sales                               $  953,236           $1,857,666
                                             ==========           ==========

     Operating income (loss)                 $ (329,714)          $ (282,526)
                                             ==========           ==========
     Loss from discontinued operations,
      net of income taxes                    $ (328,244)          $ (282,021)
                                             ==========           ==========

                (Remainder of this page left blank intentionally)

                                      F-11
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE F - FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amount of cash,  accounts  receivable,  accounts  payable and notes
payable, as applicable,  approximates fair value due to the short term nature of
these items  and/or the current  interest  rates  payable in relation to current
market conditions.

Interest  rate risk is the risk  that the  Company's  earnings  are  subject  to
fluctuations  in interest  rates on either  investments  or on debt and is fully
dependent  upon  the  volatility  of  these  rates.  The  Company  does  not use
derivative instruments to moderate its exposure to interest rate risk, if any.

Financial  risk  is  the  risk  that  the  Company's  earnings  are  subject  to
fluctuations in interest rates or foreign exchange rates and are fully dependent
upon the  volatility  of  these  rates.  The  company  does  not use  derivative
instruments to moderate its exposure to financial risk, if any.

NOTE G - CONCENTRATIONS OF CREDIT RISK

KTII and KTI maintain their  respective cash accounts in financial  institutions
subject  to  insurance   coverage  issued  by  the  Federal  Deposit   Insurance
Corporation  (FDIC).  Under  FDIC  rules,  both  KTII  and KTI are  entitled  to
aggregate  coverage of $100,000 per account  type per separate  legal entity per
financial  institution.  During the years ended  January 31, 2008 and 2007,  and
subsequent thereto,  respectively,  the various entities, from time-to-time, had
deposits in a financial  institution  with  credit risk  exposures  in excess of
statutory FDIC  coverage.  The Company has incurred no losses as a result of any
unsecured situations.

NOTE H - INVENTORIES

Inventories consist of the following at January 31, 2008 and 2007:

                                            January 31,           January 31,
                                               2008                  2007
                                             --------              --------
     Raw materials                           $     --              $ 22,363
     Finished goods                                --               139,081
                                             --------              --------
     Total                                   $     --              $161,444
                                             ========              ========

NOTE I - PROPERTY AND EQUIPMENT

Property and equipment consists of the following at January 31, 2008 and 2007:

                                      January 31,    January 31,
                                         2008           2007      Estimated life
                                       ---------      ---------   --------------
     Machinery and Equipment           $ 608,083      $ 607,275     7 years
     Office furniture and fixtures            --         12,138     5 years
     Leasehold improvements                   --         18,029     2 years
     Vehicles                              9,279          9,279     5 years
                                       ---------      ---------
                                         617,362        646,721
     Less accumulated depreciation      (563,796)      (564,846)
                                       ---------      ---------
     Net property and equipment        $  53,566      $  81,875
                                       =========      =========

Depreciation  expense  for the  years  ended  January  31,  2008 and  2007  were
approximately $29,188 and $30,366, respectively.

                                      F-12
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE I - PROPERTY AND EQUIPMENT - CONTINUED

Subsequent  to January 31,  2008,  in  connection  with the  liquidation  of the
operating  assets of KIK Technology,  Inc., the Company sold or exchanged all of
the  Company's  machinery  and  equipment for $100,000 cash and/or the offset of
certain trade accounts payable to a key vendor.

NOTE J - FUNDS HELD IN TRUST BY OFFICER

In May 2001, the Company advanced $53,400 to its President to hold in trust as a
contingency fund for the sole use of the Company in the event of a unanticipated
cash shortfall. The advance bore interest at 4.0% annually and is unsecured. The
original  documentation  required  repayment  of the  advance and  accrued,  but
unpaid,  interest in May 2003.  During  December 2007,  the Company's  President
utilized 100% of the funds held in trust on behalf of the Company to pay certain
operating and personnel expenses.

NOTE K - NOTES PAYABLE TO INVESTORS

Pursuant to the terms of a private placement agreement, the Company attempted to
raise up to $600,000  through the  placement of two-year  senior  notes  bearing
interest  at 10%  payable  quarterly.  This  Private  Placement  Memorandum  was
terminated by the Company during the fiscal quarter ended October 31, 2002.

In November  2001,  the Company  entered  into an agreement  with an  investment
banker whereby the investment  banker would act as exclusive  dealer-manager  in
this private  placement of  securities  to be issued by the Company  pursuant to
Regulation D of the Securities  Act of 1933, as amended.  As  compensation,  the
investment banker was paid $15,000 for professional fees,  received a commission
equal to 10% of the gross proceeds,  an unaccountable expense allowance equal to
4% of the gross proceeds,  and for every $500,000 raised,  150,000 shares of the
Company's restricted, unregistered common stock. Such shares will be issued upon
completion of the private  placement.  In addition,  the investment  banker will
have the option to nominate one person to the Company's Board of Directors if at
least  $2,000,000 is raised.  As of the  termination  of this Private  Placement
Memorandum, in prior years, only $75,000 was raised.

Note  holders can elect,  with the  consent of the  Company,  to accept  Company
common stock in lieu of cash interest payments.  Such payments in stock would be
calculated  at 50% of the daily  average of the market price of the common stock
for the 30-calendar  days preceding the interest due date. After six months from
the date of issue of the notes,  the  Company  can  convert  the notes to common
stock if the daily average  market price of the  Company's  common stock for any
30-calendar days after the initial six-month period equals or exceeds $1.00. The
conversion  of the notes to common stock would also be  calculated at 50% of the
daily average market price for the 30 days prior to the Company giving notice of
its plan to convert.

In  conjunction  with the offering of the notes,  each note holder was given one
warrant for each $1.00 invested.  Each warrant allows the holder to purchase one
share of the Company's  common stock at an initial  exercise  price of $0.60 per
share, and is exercisable for two years. In March 2002, the Company repriced the
outstanding warrants to an exercise price of $0.40 per share.

Pursuant to the private placement,  the Company sold a $50,000  convertible note
on November 12, 2001 and a $25,000  convertible note on December 26, 2001 to two
unrelated  investors.  Warrants to purchase a combined total of 75,000 shares of
the Company's common stock at $0.60 per share were also issued to the investors.
The  warrants  were  valued at $11,789  using the  Black-Scholes  option-pricing
model, and therefore $11,789 of the total debt proceeds of $75,000 was allocated
to the warrants, resulting in a discount on the notes, was amortized to interest
expense over the initial term of the underlying  debt. This calculated  discount
was  amortized  to  interest  expense  in  prior  years.  The  weighted  average
assumptions   utilized   to  value  the   warrants   using   the   Black-Scholes
option-pricing model were as follows:

Expected life of the option:    The  initial  life of the  corresponding option,
                                generally two (2) years
Expected volatility in
 the Company's stock price:     150.0%,  which was based on  fluctuations of the
                                Company's stock price over the past Fiscal year.

                                      F-13
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE K - NOTES PAYABLE TO INVESTORS - CONTINUED

Expected dividends:             Zero (0.00) based on past performance
Anticipated risk free
 interest rate:                 Estimated to be 2.80%.

The  convertible  notes  contained a beneficial  conversion  feature valued at a
combined  total  of  approximately  $63,000.  However,  because  the  conversion
features were fully contingent upon the occurrence of certain future events, the
Company  did not  record a discount  resulting  from the  beneficial  conversion
feature.

The notes  matured  on  November  12,  2003  ($50,000)  and  December  26,  2003
($25,000), respectively.

On February 16, 2004, the Company  restructured  the $50,000  convertible  note.
Under the restructured terms, the Company paid all accrued interest and a $3,000
principal  reduction on March 16, 2004, as of February 16, 2004.  The Company is
obligated to pay $2,000 per month,  plus accrued  interest,  for the period from
March 16,  2004  through  August 16,  2004 and $1,000  per month,  plus  accrued
interest, on the 16th of each month thereafter until all outstanding amounts are
paid in full.  The  restructured  note bears  interest  at 10.0% per annum.  The
Company is making  interest-only  payments of approximately  $314, which is less
than the interest  accruing and is delinquent  in making the required  principal
payments.  Accordingly,  the  entire  debt is  classified  as  "current"  in the
accompanying consolidated financial statements.

The  $50,000  restructured  note is  convertible  into  shares of  unregistered,
restricted  common stock at the discretion of the Noteholder  with the Company's
consent,  provided that the daily average  (calculated  from the last sale price
daily) of the market price of the Company's common stock for any 30 calendar day
period equals or exceeds $1.00 per share,  with the conversion  being calculated
at a 50% discount of such 30 day average.

The $50,000  Noteholder  also has the  election to receive the monthly  interest
payments in  restricted,  unregistered  common stock of the Company at the daily
average  (calculated  from the last sale price daily) of the market price of the
Company's  common stock for the 30 calendar day period prior to the interest due
date,  with the number of shares to be issued  calculated  at a 50%  discount of
such 30 day average.

The  $25,000  convertible  note is in default and no demand for payment has been
made  to  the  Company.  The  Company  continues  to  accrue  interest  on  this
convertible note in accordance with the original terms and conditions.

The aggregate maturities of the notes are as follows:

     Balance as of January 31, 2008 and 2007                      $ 68,000
     Less current portion                                          (68,000)
                                                                  --------
     Long-term portion                                            $     --
                                                                  ========


NOTE L - CAPITAL LEASE PAYABLE

Capital lease payable is as follows:

                                                       January 31,   January 31,
                                                          2008          2007
                                                        --------      --------
$21,080 capital lease payable to a finance corporation
 Interest at 8.60%.  Payable in monthly installments
 of approximately $432, including accrued interest
 Final maturity due in April 2007.  Collateralized by
 equipment. Paid in full in March 2007                  $     --      $    425

     Less current maturities                                  --          (425)
                                                        --------      --------
     Long-term portion                                  $     --      $    425
                                                        ========      ========

                                      F-14
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE M - INCOME TAXES

The  components  of income tax  (benefit)  expense  for each of the years  ended
January 31, 2008 and 2007, respectively, are as follows:

                                             Year Ended            Year Ended
                                             January 31,           January 31,
                                                2008                  2007
                                              -------               -------
      Federal:
       Current                                $    --               $    --
       Deferred                                    --                    --
                                              -------               -------
                                                   --                    --
                                              -------               -------
      State:
       Current                                     --                    --
       Deferred                                    --                    --
                                              -------               -------
                                                   --                    --
                                              -------               -------
       Total                                  $    --               $    --
                                              =======               =======

Although the Company has a cumulative net operating loss  carryforward in excess
of $5,000,000 to offset future taxable  income,  subject to current  regulations
and the change in control  transaction in February 2008, the future  utilization
of  this  net  operating  loss  carryforward  will be  significantly  negatively
impacted.  If eligible  components of the  cumulative net operating loss are not
utilized,  the  components  will expire at the end of each  fiscal year  through
2028. The amount and  availability of the net operating loss  carryforwards  are
subject to limitations set forth by the Internal  Revenue Code.  Factors such as
the number of shares  ultimately  issued within a three year  look-back  period;
whether there is a deemed more than 50 percent change in control; the applicable
long-term  tax  exempt  bond  rate;  continuity  of  historical  business;   and
subsequent  income of the  Company  all enter  into the  annual  computation  of
allowable annual utilization of the carryforwards.

The Company's income tax expense  (benefit) for the years ended January 31, 2008
and 2007,  respectively,  differed from the statutory federal rate of 34 percent
as follows:

                                                     Year ended      Year ended
                                                     January 31,     January 31,
                                                        2008            2007
                                                      ---------       ---------
Statutory rate applied to loss before income taxes    $(267,000)      $(150,000)
Increase (decrease) in income taxes resulting from:
  State income taxes                                         --              --
  Other, including reserve for deferred tax asset       267,000         150,000
                                                      ---------       ---------
      Income tax expense                              $      --       $      --
                                                      =========       =========

Temporary differences due to statutory requirements in the recognition of assets
and liabilities for tax and financial  reporting  purposes,  generally including
such items as organizational costs,  accumulated  depreciation and amortization,
allowance for doubtful accounts,  organizational and start-up costs and vacation
accruals.  These  differences  give  rise to the  financial  statement  carrying
amounts and tax bases of assets and  liabilities  causing  either  deferred  tax
assets  or  liabilities,  as  necessary,  as  of  January  31,  2008  and  2007,
respectively:

                                                   January 31,      January 31,
                                                      2008             2007
                                                   -----------      -----------
Deferred tax assets
  Net operating loss carryforwards                 $ 2,100,000      $ 1,797,000
  Less valuation allowance                          (2,100,000)      (1,797,000)
                                                   -----------      -----------
Net Deferred Tax Asset                             $        --      $        --
                                                   ===========      ===========

                                      F-15
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE M - INCOME TAXES - CONTINUED

During the year ended  January 31, 2008 and 2007,  respectively,  the  valuation
allowance  for the deferred tax asset  increased by  approximately  $303,000 and
$150,000.

NOTE N - COMMON STOCK TRANSACTIONS

In July 2006,  the Company  issued 150,000  restricted,  unregistered  shares of
common  stock  in  payment  of  a  contract  for  professional  services.   This
transaction was valued at approximately  $6,000, which was equal to or in excess
of the closing  price of the  Company's  common  stock on the NASDAQ  Electronic
Bulletin Board on the date of the  transaction.  The Company relied upon Section
4(2)  of  The  Securities  Act of  1933,  as  amended,  for  an  exemption  from
registration on these shares.

NOTE O - STOCK WARRANTS

All warrants issued with the aforementioned  convertible notes have expired. The
Company has no issued and outstanding warrants as of January 31, 2008 or 2007.

NOTE P - RELATED PARTY TRANSACTIONS

During each of the years ended  January 31, 2008 and 2007,  the Company  accrued
approximately  $120,000  annually  or  approximately  $30,000  per  quarter  for
administrative  service fees payable to KIK Polymers,  the Company's controlling
stockholder.

During Fiscal 2008 and 2007, KIK Polymers  advanced KTI  approximately  $115,000
and  $150,000,  respectively,  for working  capital  purposes.  This  advance is
non-interest bearing and has no scheduled repayment date.

NOTE Q - COMMITMENTS AND CONTINGENCIES

LEASED FACILITIES

The Company leased its facilities under a non-cancellable operating lease, which
was  scheduled to expire in May 2008.  The lease  required  monthly  payments as
follows:  $8,307  for the first 12  months;  $8,639  for the next 12 months  and
$8,984 for the next 12 months.

In  the  third  quarter  of  Fiscal  2008,   the  landlord  of  the  office  and
manufacturing  facilities  of KIK  Technologies,  Inc.  evicted  the Company for
non-payment  of  contractually  agreed-upon  lease amounts.  Upon eviction,  the
Company accrued all remaining obligations under this lease agreement pursuant to
a demand letter from the evicting landlord.

Rent  expense  paid or  accrued  incurred  under  this  lease was  approximately
$153,976  and  $110,680  for each of the years ended  January 31, 2008 and 2007,
respectively.

NOTE R - COMMITMENTS AND CONTINGENCIES

KIK entered  into an  employment  agreement  with  William M.  Knooihuizen,  the
Company's current President and Director.  The agreement started in May 2000 and
was for an initial period of five (5) years at an annual salary in the amount of
$143,000,  to be paid weekly.  Upon expiration in May 2005, the Company and it's
officer  agreed to continue this agreement in an unwritten form on an undefined,
indefinite  basis.  This  agreement  was  terminated  in  conjunction  with  the
cessation of operating activities in KIK Technology, Inc. However, the Company's
President continues on a month-to-month  basis to assist with the liquidation of
the Company's operating assets.

                                      F-16
<PAGE>
                KIK TECHNOLOGY INTERNATIONAL, INC. AND SUBSIDIARY
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                            January 31, 2008 and 2007

NOTE S - SIGNIFICANT CUSTOMERS

During the year ended January 31, 2007, the Company had four separate  customers
who were  responsible  for a significant  portion of the Company's net revenues,
accounts receivable and suppliers of various raw materials and components to the
Company's  manufacturing  process. The following table shows the significance of
these entities:

                                                  Accounts          Accounts
                                 Revenues         Receivable        Payable
                                 --------         ----------        -------
Year ended January 31, 2007
   Customer A                      46.42%           30.77%           45.35%
   Customer B                       9.12             0.00             0.00
   Customer C                       5.86            16.30             0.58
   Customer D                       3.94             0.00             0.00
   Others                          34.66            52.93            54.07
                                  ------           ------           ------
     Totals                       100.00%          100.00%          100.00%
                                  ======           ======           ======

Due to the  cessation of  operating  activities  for the year ended  January 31,
2008,  this  information is not meaningful to future analysis of the Company and
its operations.

NOTE T - SELECTED FINANCIAL DATA (UNAUDITED)

The  following is a summary of the quarterly  results of operations  for each of
the years ended January 31, 2008 and 2007, respectively.

<TABLE>
<CAPTION>
                                   Quarter ended      Quarter ended    Quarter ended     Quarter ended       Year ended
                                     April 30,          July 31,         October 31,       January 31,       January 31,
                                    -----------       -----------        -----------       -----------       -----------
<S>                                 <C>               <C>                <C>               <C>               <C>
YEAR ENDING JANUARY 31, 2008
   Sales                            $   312,923       $   364,105        $   276,208       $    15,591       $   953,236
   Gross profit                         (35,164)           14,337              1,065             5,312           (19,762)
   Net earnings after provision
    for income taxes                   (182,934)         (126,655)          (171,198)         (357,144)         (785,960)
   Basic and fully diluted
    earnings per share              $     (0.01)      $     (0.01)       $     (0.01)      $     (0.01)      $     (0.04)
   Weighted average
    number of shares
    issued and outstanding           25,321,865        25,321,865         25,321,865        25,321,865        25,321,865

YEAR ENDING JANUARY 31, 2007
   Sales                            $   596,844       $   578,076        $   277,577       $   405,169       $ 1,857,666
   Gross profit                         143,541            69,814            (50,969)          (37,068)          125,318
   Net earnings after provision
    for income taxes                     (8,429)          (86,327)          (182,480)         (164,812)         (442,048)
   Basic and fully diluted
    earnings per share                      nil               nil        $     (0.01)      $     (0.01)      $     (0.02)
   Weighted average
    number of shares
    issued and outstanding           25,171,865        25,173,495         25,323,495        25,321,865        25,247,892
</TABLE>

NOTE U - SUBSEQUENT EVENT

Subsequent  to January 31,  2008,  in  connection  with the  liquidation  of the
operating  assets of KIK Technology,  Inc., the Company sold or exchanged all of
the  Company's  machinery  and  equipment for $100,000 cash and/or the offset of
certain trade accounts payable to a key vendor.  The cash proceeds were utilized
to  satisfy  certain  debts of the  Company  incurred  in the  normal  course of
business.

                                      F-17
<PAGE>
                                   SIGNATURES

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

                                          KIK TECHNOLOGY INTERNATIONAL, INC.


Dated: May 15, 2008                       /s/ Donald Dean
       ------------                       --------------------------------------
                                                                     Donald Dean
                                                        Chief Accounting Officer
                                                                    and Director

In accordance with the Securities Exchange Act of 1934, as amended,  this report
has been signed below by the  following  persons on behalf of the Company and in
the capacities and on the date as indicated.


Dated: May 15, 2008                       by /s/ Donald P. Dean
       ------------                         ------------------------------------
                                                                  Donald P. Dean
                                                         Chief Executive Officer
                                                                   and Secretary

                                       15