----

----

| MORTGAGEBROKERS.COM HOLDINGS, INC.                     |
|--------------------------------------------------------|
| (Exact name of registrant as specified in its charter) |

| DELAWARE                                                      |   | 05-0554486                          |
|---------------------------------------------------------------|--------|-------------------------------------|
| (State or other jurisdiction ofincorporation or organization) |   | (I.R.S. EmployerIdentification No.) |

| 260 Edgeley Boulevard, Suite 11, Concord, Ontario L4K 3Y4 |
|----------------------------------------------------------------|
| (Address of principal executive offices and zip code)          |

| Large accelerated filer    o           | Accelerated filer         | o |
|-------------------------------------------------------|---------------------------|---|
| Non-accelerated filer      o | Smaller reporting company | x |

| Class                          |      | Outstanding at May 17, 2010 |
|--------------------------------|--------------------------|-----------------------------|
| Common Stock, $.0001 par value |                     | 42,939,099                  |

----

----

----

| Item 1.  | Financial Statements                                              |   |   | 1      |   |
|----------|-------------------------------------------------------------------|--------|--------|--------|--------|
|     |                                                              |   |   |   |   |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition |   |   | 2      |   |
|     |                                                              |   |   |   |   |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk        |   |   | 5      |   |
|     |                                                              |   |   |   |   |
| Item 4T. | Control and Procedures                                            |   |   | 5      |   |

| Item 1    | Legal Proceedings                                           |   |   | 6      |   |
|-----------|-------------------------------------------------------------|--------|--------|--------|--------|
|      |                                                        |   |   |   |   |
| Item 1A   | Risk Factors                                                |   |   | 6      |   |
|      |                                                        |   |   |   |   |
| Item 2.   | Unregistered Sales of Equity Securities and Use of Proceeds |   |   | 6      |   |
|      |                                                        |   |   |   |   |
| Item 3.   | Defaults Upon Senior Securities                             |   |   | 6      |   |
|      |                                                        |   |   |   |   |
| Item 4.   | (Removed and Reserved)                                      |   |   | 6      |   |
|      |                                                        |   |   |   |   |
| Item 5.   | Other Information                                           |   |   | 6      |   |
|      |                                                        |   |   |   |   |
| Item 6.   | Exhibits and Reports on Form 8-K                            |   |   | 6      |   |
|      |                                                        |   |   |   |   |
| SIGNATURE |                                                        |   |   | 7      |   |

----

----

|   | 1. | MortgageBrokers.com Inc. - an Ontario Canada provincially incorporated company that currently holds our licensure for operating as a mortgage broker in the Province of Ontario; |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | MortgageBrokers.com Financial Group of Companies Inc. - a Canadian federally incorporated company, which currently holds our licensure for operating as a mortgage broker in the Provinces of Newfoundland, Nova Scotia, New Brunswick, Prince Edward Island and Alberta; and, |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | MBKR Holdings Inc., - a Canadian federally incorporated company, incorporated on November 24, 2008 for the intended centralization of back office services in Canada. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | MBKR Franchising Inc., - a Canadian federally incorporated company, incorporated on January 30, 2009 through which it is the Company’s intent to become a mortgage brokerage franchisor in Canada. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·       | Due in part to a 8 % increase in our stock price between the closings of reporting periods, the Company reported an increase of $143,350 from the same period in 2009 in stock-based compensation accruals for services associated with our agents, strategic alliances and consultants to $84,612.  These accruals are valued based on stock prices at the end of the period, for which the Company has no direct influence; therefore it is difficult to analyze related trends.  In aggregate, these charges were approximately 2.6% of the reported total operating expenses and the net sum decreased our reported net income accordingly.  It is the intent of management to continue using our stock-based compensation programs to maximize working capital and align the interests of our mortgage agents with those of our shareholders.  Management cancelled the employee stock-based compensation program in the fourth quarter 2009 and there were no employee stock-based compensation expenses accrued for in the first quarter of 2010. |
|--------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | 73% of the operating expenses in the reporting period were associated with agent commissions.  Reported agent commission fees as a percent of revenue decreased by 7% from the first quarter 2009 as compared to that of 2010.  In consideration of the increase in the foreign exchange rate between the periods of approximately 20% (all of our operations are in Canada while we report in USD), actual commission fee expenses in Canadian dollars decreased 6% from the same period in 2009 to 2010, likely associated with the loss of a mortgage agent team in the first quarter of 2010. |
|--------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | 11.6% of the operating expenses in the reporting period were associated with salaries and benefits.  Salaries and benefits have not appreciably changed from the first quarter 2009 as compared to that of 2010. |
|--------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | 11.4% of our operating expenses in the reporting period were associated with general and administrative expenses.  General and administrative expenses increased 134% to $364,945 in 2010 as compared to that of 2009.  This increase was likely associated with our incurring additional trade mark legal, computer repairs and promotions expenses during the first quarter of 2010. |
|--------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | Occupancy costs this period were relatively flat compared to 2009. |
|--------------------------------------------|--------------------------------------------------------------------|

| ·       | All reported relative expense trends were affected by a material foreign exchange increase in the average Canadian dollar of approximately 20% in 2010 from that of 2009 that the Company was exposed to as all of our operations are currently in Canada while we report in USD on a consolidated basis. |
|--------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | Cash and cash equivalents did not appreciably change over the reporting period. |
|--------------------------------------------|---------------------------------------------------------------------------------|

| ·       | Accounts payable did not appreciably change over the reporting period.  The bulk of this payable amount is work in progress payable following completion of mortgage agent origination compliance procedures.  work in progress mortgage agent commissions payable typically have an average days payable of 10 business days. |
|--------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | The Company is in arrears on the tax withholdings due to Canada Revenue Agency (“CRA”) related to employee salaries.  As at the end of the reporting period, the company had a tax liability with CRA of $258,432.  The Company has negotiated an agreement with CRA which, if certain conditions are met (remaining current with existing payroll tax submissions and regular reporting), allows the Company to pay down the balance in monthly instalments, which are currently $5,000 per month through to October, 2009 and then to continue to pay monthly instalments of $10,000 until such time as the company is able to pay the balance to CRA in a lump sum payment.  In the event that the Company secures further investment capital, the balance is to be paid off in full shortly after receipt of the funds.  In addition, CRA has registered a Certificate in the Canadian Federal Court and the Property Register of Ontario for the amount owing to CRA.  The liability currently bears interest at 9% annually. |
|--------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·       | Bank indebtedness decreased by 15% as the Company continues to pay down our loan facility with a lender. |
|--------------------------------------------|----------------------------------------------------------------------------------------------------------|

----

----

|       • | Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the company; |
|---------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

|       • | Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and the receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the Company; and |
|---------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|       • | Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisitions, use or disposition of the company's assets that could have a material effect on the financial statements. |
|---------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | Not Applicable. |
|--------|-----------------|

----

|   |
|--------|

| MORTGAGEBROKERS.COM HOLDINGS, INC. |                                                                                                                                                                                             |
|------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                               |                                                                                                                                                                                             |   |
| By:                           |  /s/ Alex Haditaghi                             |   |
|                               |            Alex Haditaghi                                                                                                                      |   |
|                               |            Principal Executive Officer,                                                                                                        |   |
|                               |            Principal Accounting Officer,                                                                                                       |   |
|                               |            President, Secretary and Director                                                                                                   |   |
| Dated: May 17, 2010                |                                                                                                                                                                                             |

| NAME                     |   |         TITLE                             | DATE         |
|--------------------------|--------|-----------------------------------------------------------------------------------|--------------|
|                     |   |                                                                              |         |
|  /s/ Alex Haditaghi |   |         President, Secretary and Director | May 17, 2010 |
| Alex Haditaghi           |   |                                                                              |         |

----

|        MORTGAGEBROKERS.COM HOLDINGS, INC. AND SUBSIDIARIES  CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS  MARCH  31, 2010 AND 2009  UNAUDITED        |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                   |   |
|----------------------------------------------------------------------------------------|--------|
|                                                                                   |   |
| Condensed Consolidated Balance Sheets                                                  | F2     |
|                                                                                   |   |
| Condensed Consolidated Statements of Operations and Comprehensive (Loss) ((Incom(Loss) | F3     |
|                                                                                   |   |
| Condensed Consolidated Statements of Cash Flows                                        | F4     |
|                                                                                   |   |
| Notes to Condensed Consolidated Financial Statements                                   | F5-16  |

----

|                                                                                                                                             | March 31, 2010 (Unaudited) |   | December 31, 2009 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------|--------|-------------------|--------|
| ASSETS                                                                                                                                           |                       |
| Current Assets                                                                                                                                   |                       |   |              |   |
| Cash and cash equivalents                                                                                                                        |                       | $      | 1,975,718         |   |   | $ | 2,012,964 |   |
| Referral fees held in trust – restricted(note 3)                                                                                           |                       |   | -                 |   |   |   | 2,767 |   |
| Prepaid expenses                                                                                                                                 |                       |   | 19,955            |   |   |   | 19,236 |   |
| Total Current Assets                                                                                                                             |                       |   | 1,995,673         |   |   |   | 2,034,967 |   |
| Equipment, net (note 4)                                                                                                                          |                       |   | 103,101           |   |   |   | 106,935 |   |
| Equipment Under Capital Leases (note 5)                                                                                                          |                       |   | 1,894             |   |   |   | 1,968 |   |
| Total Assets                                                                                                                                     |                       | $      | 2,100,668         |   |   | $ | 2,143,870 |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                            |                       |
| Current Liabilities                                                                                                                              |                       |   |              |   |   |   |   |   |
| Bank indebtedness – current portion (note 6)                                                                                               |                       | $      | 55,419            |   |   | $ | 65,104 |   |
| Accounts payable and accrued liabilities                                                                                                         |                       |   | 1,991,288         |   |   |   | 1,987,786 |   |
| Advances from related party – current portion (note 7)                                                                                     |                       |   | 297,183           |   |   |   | 359,138 |   |
| Trust liability  (note 3)                                                                                                              |                       |   | -                 |   |   |   | 2,767 |   |
|                 Employee tax deductions payable (note 8)         |                       |   | 258,432           |   |   |   | 219,759 |   |
| Stock-based compensation accrual - current portion (note 9a)                                                                                     |                       |   | 34,510            |   |   |   | 19,720 |   |
| Employee stock-based compensation accrual (note 9b)                                                                                              |                       |   | 1,650             |   |   |   | 1,650 |   |
| Total Current Liabilities                                                                                                                        |                       |   | 2,638,482         |   |   |   | 2,655,924 |   |
|                                                                                                                                             |                       |   |              |   |   |   |   |   |
|                                                                                                                                             |                       |   |              |   |   |   |   |   |
| Stock-based Compensation Accrual (note 9c)                                                                                                  |                       |   | 146,651           |   |   |   | 76,829 |   |
|                                                                                                                                             |                       |   |              |   |   |   |   |   |
| Total Liabilities                                                                                                                                |                       |   | 2,785,133         |   |   |   | 2,732,753 |   |
| Commitments and Contingencies (notes 1 and 14)                                                                                                   |                       |   |              |   |   |   |   |   |
| STOCKHOLDERS' DEFICIT                                                                                                                            |                       |
| Capital Stock                                                                                                                                    |                       |   |              |   |   |   |   |   |
| Preferred stock, $0.0001 par value; 5,000,000 shares  authorized, none issued                                                               |                       |   | -                 |   |   |   | - |   |
| Capital stock, $0.0001 par value; 100,000,000 shares  authorized; 42,976,548 (2009: 42,976,548) issued and  outstanding (note 10) |                       |   | 4,298             |   |   |   | 4,298 |   |
| Additional Paid-in Capital                                                                                                                       |                       |   | 5,858,352         |   |   |   | 5,858,352 |   |
| Additional Paid-in Capital - Warrants (note 11)                                                                                                  |                       |   | 335,183           |   |   |   | 335,183 |   |
| Subscription (Cancellation) of Stock                                                                                                             |                       |   | (220              | )      |   |   | (220 | ) |
| Treasury Stock (note 12)                                                                                                                    |                       |   | (27,285           |   |   |   | (25,234 |   |
| Accumulated Other Comprehensive Income                                                                                                           |                       |   | 130,750           |   |   |   | 142,605 |   |
| Accumulated Deficit                                                                                                                              |                       |   | (6,985,543        |   |   |   | (6,903,867 |   |
| Total Stockholders' Deficit                                                                                                                      |                       |   | (684,465          | )      |   |   | (588,883 | ) |
| Total Liabilities and Stockholders' Deficit                                                                                                      |                       | $      | 2,100,668         |   |   | $ | 2,143,870 |   |
|                                                                                                                                             |                       |   |              |   |   |   |   |   |

----

|                                                                    |   | 2010   |       |   | 2009      |   |
|-------------------------------------------------------------------------|--------|--------|------------|--------|-----------|--------|
|                                                                    |   |   |       |   | Restated  |   |
|                                                                    |   |   |       |   | (Note 18) |   |
|                                                                    |   |   |       |   |      |   |
| Revenue                                                                 |   | $      | 3,117,297  |   |      | $      | 2,581,556 |   |
|                                                                    |   |   |       |   |      |   |   |   |
| Expenses                                                                |   |   |       |   |      |   |   |   |
| Commission and agent fees                                               |   |   | 2,332,434  |   |      |   | 2,069,992 |   |
| Salaries and benefits                                                   |   |   | 369,658    |   |      |   | 352,618 |   |
| General and administrative expenses                                     |   |   | 364,945    |   |      |   | 155,707 |   |
| Employee stock-based compensation (note 9b)                             |   |   | -          |   |      |   | 155,370 |   |
| Stock-based compensation (note 14a, 14b, and 14c(i))                    |   |   | 69,822     |   |      |   | (47,768 | )  |
| Stock-based compensation (note 14c(ii))                                 |   |   | 14,790     |   |      |   | (10,970 | )  |
| Occupancy costs (note 13)                                               |   |   | 38,803     |   |      |   | 37,283 |   |
| Depreciation expense                                                    |   |   | 8,521      |   |      |   | 6,306 |   |
|                                                                    |   |   |       |   |      |   |   |   |
| Total Operating Expenses                                                |   |   | 3,198,973  |   |      |   | 2,718,538 |   |
|                                                                    |   |   |       |   |      |   |   |   |
| (Loss) from Operations                                                  |   |   | (81,676    | )      |      |   | (136,982 | ) |
|                                                                    |   |   |       |   |      |   |   |   |
| Other Expenses                                                          |   |   |       |   |      |   |   |   |
| Interest, Finance and Other Expenses                                    |   |   | -          |   |      |   | (4,710 | ) |
|                                                                    |   |   |       |   |      |   |   |   |
|                                                                    |   |   |       |   |      |   |   |   |
| (Loss) Before Income Taxes                                              |   |   | (81,676    | )      |      |   | (141,692 | ) |
|                                                                    |   |   |       |   |      |   |   |   |
| Provision for income taxes                                              |   |   | -          |   |      |   | - |   |
|                                                                    |   |   |       |   |      |   |   |   |
| Net (Loss)                                                              |   |   | (81,676    | )      |      |   | (141,692 | ) |
|                                                                    |   |   |       |   |      |   |   |   |
|                                                                    |   |   |       |   |      |   |   |   |
| Foreign Currency Translation Adjustment                                 |   |   | 11,855     |   |      |   | 23,190 |   |
|                                                                    |   |   |       |   |      |   |   |   |
| Total Comprehensive (Loss)                                              |   |   | (69,821    | )      |      |   | (118,502 | ) |
|                                                                    |   |   |       |   |      |   |   |   |
| Net (Loss) per Share – Basic (note 15)                            |   |   | (0.00      | )      |      |   | (0.00 | ) |
| Net (Loss) per Share -  Diluted (note 15)                     |   |   | (0.00      | )      |      |   | (0.00 | ) |
|                                                                    |   |   |       |   |      |   |   |   |
| Weighted Average Number of Shares Outstanding - Basic During the Year   |   |   | 42,976,548 |   |      |   | 42,976,548 |   |
|                                                                    |   |   |       |   |      |   |   |   |
| Weighted Average Number of Shares Outstanding - Diluted During the Year |   |   | 42,976,548 |   |      |   | 42,976,548 |   |

----

|                                                                                                            |   | 2010   |      |   | 2009      |   |
|-----------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|-----------|--------|
|                                                                                                            |   |   |      |   | Restated  |   |
|                                                                                                            |   |   |      |   | (Note 18) |   |
|               Net income(Loss)       |   | $      | (81,676   | )      |      | $      | (141,692 | ) |
| Adjustments to reconcile net income (loss) to net cash from operating activities:                               |   |   |      |   |      |   |   |   |
|  Depreciation                                                                                              |   |   | 8,521     |   |      |   | 6,306 |   |
|  Employee stock-based compensation                                                                         |   |   | -         |   |      |   | 155,370 |   |
|               Stock-based compensation accrual |   |   | 84,612    |   |      |   | (58,738 | ) |
| (Increase) decrease in net assets:                                                                              |   |   |      |   |      |   |   |   |
|  Referral fees held in trust                                                                               |   |   | (2,810    | )      |      |   | 3,022 |   |
|  Prepaid expenses                                                                                          |   |   | -         |   |      |   | 75,436 |   |
|  Accounts payable and Employee tax deductions payable                                                      |   |   | (72,333   | )      |      |   | (188,212 | ) |
|  Trust liability                                                                                           |   |   | 2,810     |   |      |   | (3,022 | ) |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Net Cash provided by Operating Activities                                                                       |   |   | (60,876   | )      |      |   | (151,530 | ) |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Cash Flows from Investing Activities                                                                            |   |   |      |   |      |   |   |   |
| (Purchase) of equipment, net                                                                                    |   |   | (413      | )      |      |   | (1,986 | ) |
| Net Cash used in Investing Activities                                                                           |   |   | (413      | )      |      |   | (1,986 | ) |
| Cash Flows from  Financing Activities                                                                 |   |   |      |   |      |   |   |   |
| (Repayments of) obligations under capital leases                                                                |   |   | -         |   |      |   | (653 | )  |
| Repayment of advances from related party                                                                        |   |   | (66,763   | )      |      |   | 70,943 |   |
| Purchase of treasury shares                                                                                     |   |   | (2,051    | )      |      |   | - |   |
| Subscription for stock                                                                                          |   |   | -         |   |      |   | - |   |
| (Decrease)  in bank indebtedness                                                                      |   |   | (12,019   | )      |      |   | (14,879 | )  |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Net Cash provided by (used in) Financing Activities                                                             |   |   | (80,833   | )      |      |   | 55,411 |   |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Net decrease in Cash and Cash Equivalents                                                                       |   |   | (142,122  | )      |      |   | (98,105 | ) |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Effect of exchange rates on cash and cash equivalents                                                           |   |   | 104,876   |   |      |   | 23,053 |   |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Cash and Cash Equivalents - Beginning of period                                                                 |   |   | 2,012,964 |   |      |   | 1,262,321 |   |
|                                                                                                            |   |   |      |   |      |   |   |   |
| Cash and Cash Equivalents - End of period                                                                       |   | $      | 1,975,718 |   |      | $      | 1,187,269 |   |
| Supplemental Cash Flow Information                                                                              |   |   |      |   |      |   |   |   |
| Interest paid                                                                                                   |   | $      | 4,928     |   |      |   | 4,710 |   |
| Income taxes paid                                                                                               |   | $      | -         |   |      |   | - |   |

----

| 1.          | Nature of Business and Going Concern |
|----------------------------------------------------------|--------------------------------------|

| 2.          | Summary of Significant Accounting Policies |
|----------------------------------------------------------|--------------------------------------------|

----

|  2.          | Summary of Significant Accounting Policies(Continued) |
|----------------------------------------------------------------|-------------------------------------------------------|

|   | a)      Interim Financial Statements |
|--------|--------------------------------------------------------------------|

|   | b)    Basis of Consolidation and Presentation |
|--------|-------------------------------------------------------------------|

----

| 3.  | Referral Fees Held in Trust and Trust Liability |
|----------|------------------------------------------------------|

| 4.          | Equipment, net |
|----------------------------------------------------------|----------------|

|                    |   |   |         |   | Net Book Value |   | Net Book Value |   |
|-------------------------|--------|--------|--------------|--------|----------------|--------|----------------|--------|
|                    |   |   | Accumulated  |   | March 31, |   | December 31,   |   |
|                    | Cost   |   | Depreciation |   | 2010           |   | 2009           |   |
|                    |   |   |         |   |           |   |           |   |
| Furniture and equipment |   | $      | 182,423      |   |           | $      | 102,429        |   |   | $ | 79,994 |   |   | $ | 83,121 |   |
| Computer equipment      |   |   | 35,460       |   |           |   | 21,385         |   |   |   | 14,075 |   |   |   | 14,202 |   |
| Leasehold improvements  |   |   | 20,322       |   |           |   | 11,290         |   |   |   | 9,032 |   |   |   | 9,612 |   |
|                    |   |   |         |   |           |   |           |   |   |   |   |   |   |   |   |   |
|                    |   | $      | 238,205      |   |           | $      | 135,104        |   |   | $ | 103,101 |   |   | $ | 106,935 |   |
|                    |   |   |         |   |           |   |           |   |   |   |   |   |   |   |   |   |

|                           |   | 2010   |   |   | 2009   |   |
|--------------------------------|--------|--------|--------|--------|--------|--------|
| Computer equipment             |   | $      | 7,021  |   |   | $      | 6,748 |   |
| less: accumulated depreciation |   |   | (5,127 | )      |   |   | (4,780 | ) |
|                           |   |   |   |   |   |   |   |   |
|                           |   | $      | 1,894  |   |   | $      | 1,968 |   |

| 6.          | Bank Indebtedness |
|----------------------------------------------------------|-------------------|

| 7.          | Advances from Related Party |
|----------------------------------------------------------|-----------------------------|

----

| 8.          | Employee Tax Deductions Payable |
|----------------------------------------------------------|---------------------------------|

|   9.          |  Stock-based Compensation Accrual |
|----------------------------------------------------------------------|----------------------------------------|

| a.   | As of March 31, 2010, the Company has accrued, as stock-based compensation payable, 493,000 (As of December 31, 2009 – 493,000) common shares at a price of $0.07(As of December 31, 2009 $0.04) per share for a total of $34,510 (As of December 31, 2009 $19,720) payable to the parties referred to in note 14c( ii). |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b.   | As of March 31, 2010, the Company has accrued employee stock-based compensation of 15,000 (As of December 31, 2009 -15,000) common shares for a total of $1,650 (2009 - $1,650) under its Equity Compensation Plan referred to in note 10.  In December 2009, employees agreed to return and cancel all previously issued stock  and cancel all 2009 Employee stock based compensation in regards to employee stock based compensation. Employee stock based compensation is valued at the fair market value at the date of grant. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c.   | As of March 31, 2010, the Company has accrued, as stock-based compensation 2,095,019 (December 31, 2009 – 1,970,729) common shares at a price of $0.07 (December 31, 2009 - $0.04) per share for a total of $146,651 (2008 - $76,829) payable to the parties referred to in note 14a, 14b and 14c. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| i.   | the purchaser received a warrant (1 warrant = 1 share) to further purchase up to the total number shares of common stock purchased through the private placement exercisable at a rate of 20% each year following the anniversary date of the private placement closure. The warrants are exercisable at a price 30% below the 30 day fair market price preceding the date such warrants are exercised. Warrants expire if not exercised within 30 days of such anniversary date; |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 10.        | Capital Stock(cont’d) |
|-----------------------------------------------|-----------------------------|

|                                                        |   | 2010   |    |   | 2009   |   |
|-------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                        |   |   |    |   |   |   |
| Number of Warrants Outstanding at Beginning of Period:      |   |   | 844,988 |   |   |   | 1,267,482 |   |
| Number of Warrants Exercised:                               |   |   | -       |   |   |   | - |   |
| Warrants Expired:                                           |   |   | -       |   |   |   | 422,494 |   |
| Number of Warrants Outstanding  at End of Period: |   |   | 844,988 |   |   |   | 844,988 |   |

| ii.   | further, pursuant to the execution of a service level agreement, on the anniversary date of the private placement closure, the Company has agreed to issue a number of shares of common stock equal to 25% of the number of common shares purchased in the private placement for ten consecutive anniversary dates. The receipt of such shares is dependent on the execution and maintenance in good standing of the terms of a service level agreement for each of the ten years. The service level agreement included the provisions of marketing, servicing and promotional services. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| YEAR     |   | Date of Issue      |   | Anniversary Stock Issued |    |   | Price  |   |   | Value  |   |
|----------|--------|--------------------|--------|--------------------------|---------|--------|--------|--------|--------|--------|--------|
| 2007     |   | July 7, 2007       |   |                     | 478,000 |   |   | $      | 0.42   |   |   | $ | 200,760 |   |
| 2008     |   | September 11, 2008 |   |                     | 490,000 |   |   | $      | 0.11   |   |   | $ | 53,955 |   |
| Subtotal |   |               |   |                     | 968,000 |   |   |   |   |   |   |   |   |   |

----

| 10.        | Capital Stock(cont’d) |
|-----------------------------------------------|-----------------------------|

| 11.          | Additional Paid-in Capital - Warrants |
|-----------------------------------------------------------|---------------------------------------|

----

| 11.          | Additional Paid-in Capital – Warrants(cont’d) |
|-----------------------------------------------------------|-----------------------------------------------------------|

| 12.          | Treasury Stock |
|-----------------------------------------------------------|----------------|

| 13.          | Occupancy Costs - Related Party |
|-----------------------------------------------------------|---------------------------------|

|  14.          | Commitments and Contingencies |
|-----------------------------------------------------------------|-------------------------------|

----

|  14.          | Commitments and Contingencies(cont’d) |
|-----------------------------------------------------------------|---------------------------------------------|

|   | “Average Volume”: | defined as the average best three out of five years in funded mortgage origination volume |
|--------|-------------------------------|-------------------------------------------------------------------------------------------|

|   | Number of Warrants: | $8,257 worth of warrants divided by the Strike Price, per CDN $10 million in Average Volume, adjusted on a pro rata basis, no minimum or maximum thresholds. The warrants are convertible in common shares on a 1:1 basis. |
|--------|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Earnings Period: | Series I warrants are earned in the first 5 years following the Effective Date; |
|--------|------------------|---------------------------------------------------------------------------------|

|   | Additional Vestment:      | all SERIES I warrants are fully vested on the 5th anniversary of the Effective Date |
|--------|---------------------------|-------------------------------------------------------------------------------------|
|   |                      |                                                                                |
|   | Determination Date:  | 5 year anniversary of Effective Date                                           |   |

|   | “Annual Volume”: | defined as the total mortgage origination volume executed per 12 month period following the Effective Date and subsequent 12 month periods following the anniversary dates of the Effective Date |
|--------|------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Number of Warrants: | $1,651 worth of warrants divided by the Strike Price per CDN $10 million in Annual Volume, adjusted on a pro rata basis, no minimum or maximum thresholds. The warrants are convertible in common shares on a 1:1 basis. |
|--------|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Earnings Period: | Series II warrants are earned in the first 5 years following the Effective Date |
|--------|------------------|---------------------------------------------------------------------------------|

| Additional Vestment:      |  All SERIES II Warrants fully vest 3 years following the Determination Date |
|---------------------------|----------------------------------------------------------------------------------|
| Determination Date:  | 5 year anniversary of Effective Date                                        |   |

----

|  14.          | Commitments and Contingencies (Cont’d) |
|-----------------------------------------------------------------|----------------------------------------------|

|   | Annual Volume: | defined as the total funded mortgage origination volume from Maxwell lead referral executed per 12 month period following the Effective Date and subsequent 12 month periods following the anniversary dates of the Effective Date |
|--------|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Number of Warrants: | $3,000 worth of warrants divided by the Strike Price per CDN $10 million in Annual Volume, adjusted on a pro rata basis, no minimum or maximum thresholds. The warrants are convertible in common shares on a 1:1 basis. |
|--------|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Earnings Period: | Series III warrants are earned in the first 5 years following the Effective Date |   |
|--------|------------------|----------------------------------------------------------------------------------|--------|

|   | Additional Vestment: | SERIES III warrants are fully vested on the fifth anniversary of the Effective Date |
|--------|----------------------|-------------------------------------------------------------------------------------|

| i)   | Pursuant to a ten year licensing agreement dated January 30, 2006 and amended May 25, 2006, and pursuant to the execution of a one year renewable service level agreement by the RE/MAX Franchisee, the Company is committed to issuing to RE/MAX at no cost, warrants for common stock of the Company based on referrals leading to funded mortgage origination volume. The RE/MAX Warrant-Based Compensation Program issues warrants (“SERIES IV Warrants”) as follows based on current formulae: |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|         | Annual Volume:       | defined as the total funded mortgage origination volume from RE/MAX lead referral executed per 12 month period following the Effective Date and subsequent 12 month periods following the anniversary dates of the Effective Date  |
|--------------|----------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    | Number of Warrants:  | $3,000 worth of warrants divided by the Strike Price per $10 million dollars CDN in Annual Volume, adjusted on a pro rata basis, no minimum or maximum thresholds. The warrants are convertible in common shares on a 1:1 basis.        |
|         | Additional Vestment: | SERIES IV warrants are fully vested on the 5th anniversary of the Effective Date                                                                                                                                                        |   |

----

|  14.          | Commitments and Contingencies (Cont’d) |
|-----------------------------------------------------------------|----------------------------------------------|

|   | Earnings Period: | Series IV warrants are earned in the first 3 years following the Effective Date |
|--------|------------------|---------------------------------------------------------------------------------|

| ii)   |  Pursuant to the ten year licensing agreement dated January 30, 2006 and amended May 25, 2006, the Company has committed to issuing, at no cost, an aggregate of 528,118 common shares of the Company on each of the 10 year anniversary dates of the licensing agreement to those RE/MAX executives and franchisees that participated in the company’s private placement which closed on June 9, 2006. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2010   |   | $      | 4,294  |   |
|--------|--------|--------|--------|--------|
| 2011   |   | $      | 4,075  |   |
| 2012   |   | $      | 3,605  |   |
|   |   |   |   |   |

| 2010 |   | $ | 6,504  |   |
|------|--------|---|--------|--------|
| 2011 |   | $ | 10,407 |   |
| 2012 |   | $ | 3,605  |   |

| 2010   |   | $      | 78,214  |   |
|--------|--------|--------|---------|--------|
| 2011   |   | $      | 104,285 |   |
| 2012   |   | $      | 60,833  |   |
|   |   |   |    |   |

----

|  14.          | Commitments and Contingencies (Cont’d) |
|-----------------------------------------------------------------|----------------------------------------------|

| 15.  | Earnings or Loss Per Share |
|-----------|----------------------------|

|                                                          |   | March 31, 2010 |       |   | December 31, 2009 |   |
|--------------------------------------------------------------------|--------|----------------|------------|--------|-------------------|--------|
| Weighted average number of common shares outstanding               |   |           | 42,976,548 |   |              |   | 42,976,548 |   |
| Warrants                                                           |   |           | 844,988    |   |              |   | 844,988 |   |
| Stock Based Compensation payable (RE/MAX)                          |   |           | 493,000    |   |              |   | 493,000 |   |
| Stock Based Compensation payable (Other)                           |   |           | 2,097,017  |   |              |   | 1,970,729 |   |
| Stock Based Compensation payable (Employee)                        |   |           | 15,000     |   |              |   | 15,000 |   |
|  Weighted-average number of diluted common shares outstanding |   |           | 46,426,553 |   |              |   | 46,300,265 |   |

| 16.          | Comparative Figures |
|-----------------------------------------------------------|---------------------|

| 17.          | Subsequent Events |
|-----------------------------------------------------------|-------------------|

----

| 18.          | Restatement of Previously Issued Consolidated Financial Statements |
|-----------------------------------------------------------|--------------------------------------------------------------------|

|                                                          |   | As reported |      |   | As restated |    |      | Adjustment |   |
|---------------------------------------------------------------|--------|-------------|-----------|--------|-------------|---------|-----------|------------|--------|
| Consolidated Statement of Operations and Comprehensive (Loss) |   |        |      |   |        |    |      |       |   |   |   |   |
| Employee stock based compensation expense                     |   | $           | (26,179   | )      |        |  $ | 155,370   |       |   | $ | 181,549 |   |
| Salaries and benefits                                         |   |        | 395,507   |   |        |    | 352,618   |       |   |   | (42,889) |   |
| Net (Loss)                                                    |   |        | (3,032)   |   |        |    | (141,692) |       |   |   | (138,660) |   |
|                                                          |   |        |      |   |        |    |      |       |   |   |   |   |
| Consolidated Statement of Cash Flows                          |   |        |      |   |        |    |      |       |   |   |   |   |
| Net (Loss)                                                    |   |        | (3,032)   |   |        |    | (141,692  | )          |   |   | (138,660) |   |
| Employee stock based compensation                             |   |        | (26,179   | )      |        |    | 155,370   |       |   |   | 181,549 |   |
| Accounts Payable and Employee tax deductions payable          |   |  $     | (145,323) |   |        |  $ | (188,212) |       |   | $ | ( 42,889) |   |

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