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                     U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-KSB

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

                  For the fiscal year ended September 30, 2007

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

              For the transition period from__________to__________

                         Commission file number 0-32067


                           Big Sky Industries I, Inc.
 -------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


            Florida                                   59-3646899
 -------------------------------------       -----------------------------------
 (State or other jurisdiction of            (I.R.S. Employer Identification No.)
 incorporation or organization)


 7557 West Sand Lake Road, Suite 153, Orlando, FL                32819
 ---------------------------------------------------       ------------------
          (Address of principal executive offices)            (Zip Code)

                                 (407)-628-7033
                          -----------------------------
                           (Issuer's telephone number)

Securities registered under Section 12 (b) of the Exchange Act:

Title of Each Class                         Name of Exchange on Which Registered
------------------------                   -------------------------------------
       None                                             None
Securities registered under Section 12(g) of the Exchange Act:

                               Title of Each Class
                   -------------------------------------------
                         Common Stock, $0.001 Par Value


<PAGE>


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant  was required to file such report),  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 is not  contained  in  this  form,  and no  disclosure  will  be
contained,  to the  best of  registrant's  knowledge,  in  definitive  proxy  or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this Form 10-KSB. [ X ]

State  issuer's   revenues  for  the  fiscal  year  ended   September  30,  2007
were..................$0.00.

State the aggregate market value of the voting and non-voting common equity held
by non-affiliates  computed by reference to the price at which the common equity
was sold,  or the average bid and asked  price of such  common  equity,  as of a
specific  date within the past 60 days.  (See  definition  of  affiliate in Rule
12b-2 of the Exchange Act.)

As of December 31, 2007, there were 1,050,000 shares of common stock, $0.001 par
value, issued and outstanding.

Transitional Small Business Disclosure Format (check one):

     Yes [   ]                                       No [ X ]


                               TABLE OF CONTENTS

                                     Part 1

Item 1         Description of Business                                         1
Item 2          Description of Property                                        3
Item 3         Legal Proceedings                                               3
Item 4         Submission of Matters to a Voted of Security Holders            3

                                    Part II

Item 5         Market for Common  Equity and  Related  Stockholder  Matters  and
               Small Business Issuers Purchases of Equity Securities           4
Item 6         Management's Discussion and Analysis or Plan of Operation       5
Item 7         Financial Statements                                            6
Item 8         Changes in and  Disagreements  With  Accounts on  Accounting  and
               Financial Disclosures                                           6
Item 8A        Controls and Procedures                                         6
Item 8B        Other Information                                               7

                                    Part III

Item 9         Directors and Executive Officers of the Registrant              8
Item 10        Executive Compensation                                         10
Item 11        Security  Ownership of Certain  Beneficial  Owners and Management
               and Related Stockholder Matters                                11
Item 12        Certain Relationships and Related Transactions11
Item 13        Exhibits                                                       13
Item 14        Principal Accountant Fees and Services                         13
               Signatures                                                     14



<PAGE>


FORWARD LOOKING STATEMENTS

This report on Form 10-KSB  contains  statements that plan for or anticipate the
future.  Forward-looking  statements about the future of the blank check ("Blank
Check")  companies in general,  statements  about our future  business plans and
strategies, and most other statements that are not historical in nature. In this
report, the words anticipate, plan, believe, expect, estimate, may, could, will,
and similar  expressions  are intended to identify  forward-looking  statements.
Because forward-looking statements involve future risks and uncertainties, there
are factors  that could cause  actual  results to differ  materially  from those
expressed or implied.  For example, a few of the uncertainties that could affect
the accuracy of forward -looking statements include:

          1.Changes in general  economic and business  conditions,  which affect
            Blank Check companies;

          2.legal or  policy  developments  that  diminish  the  appeal  of  our
            company;

          3.the level of demand for Blank Check companies;  and 4.changes in our
            business strategies.

The Private  Securities  Litigation  Reform Act of 1995,  which provides a "safe
harbor" for similar  statements by existing public companies,  does not apply to
our company.

                                     PART I

ITEM 1.  DESCRIPTION OF BUSINESS

General Development of the Company

We were  organized as Big Sky  Industries I, Inc. under the laws of the State of
Florida on January  31,  2000,  as a shell  ("Shell")  company,  which  conducts
virtually   no  business   operation,   other  than  our  effort   investigating
opportunities to effect a merger,  exchange of capital stock, asset acquisition,
or other similar business combination ("Business Combination") with an operating
or development stage business ("Target  Business").  We registered our Company's
common stock,  par value $0.001  ("Common  Stock")  pursuant to  Securities  and
Exchange Commission ("SEC") registration statement Form 10-SB (filed December 6,
2000) on a voluntary  basis in order to create a  reporting  Shell  company.  On
December 14, 2000, the SEC approved our Form 10-SB registration statement,  with
an effective  date sixty days after the filing date. We have a shareholder  base
of two  shareholders and 1,050,000  shares of Common Stock  outstanding,  all of
which are  restricted  pursuant to Rule 144 of the  Securities  Act of 1933,  as
amended (the  "Securities  Act").  Unless the context  otherwise  requires,  all
references  to the  Company,  we,  our,  and other  similar  terms means Big Sky
Industries, I, Inc.

Our Present Business

We make reference to our entire Form 10-SB registration  statement,  as amended,
filed with the U.S.  Securities  and  Exchange  Commission  on December 6, 2000,
which contains information and more comprehensive discussion of our business and
our industry, information and discussion not required to included in this report
on Form 10-KSB.

We are in our early development and promotional  stages. We are a Shell company,
conducting virtually no business operation,  other than our effort investigating
opportunities  to associate  with a suitable  business  partner and  identifying
merger partners or acquisition  candidates.  We do not engage in any substantive
commercial  business or other  business  operations.  Our executive and business
offices are located at 7557 West Sand Lake Road, Suite 153, Orlando, FL 32819.



                                       1
<PAGE>

ITEM 1. DESCRIPTION OF BUSINESS (CONTINUED)

Our Company's former sole officer and director and current  director,  Mr. Ramon
Chimelis,  devoted  approximately  5% of his time to our business.  Mr. Chimelis
devoted  as much time as was  reasonably  necessary  to carry out our  Company's
business and affairs,  including the evaluation of potential  Target  Businesses
and the  negotiation  of a  Business  Combination,  which  has  resulted  in the
issuance of a Memorandum of Understanding  with Coffee Exchange of America's Inc
for the  purchase  of  900,000  shares,  approximately  85.7%  of the  Company's
outstanding  common shares.  Our new chairman,  president,  and chief  executive
officer,  Mr. Carl Olivieri,  will devote approximately 50% of his time to carry
out the Company's business affairs.

We have no full-time  employees.  We expect to use consultants,  attorneys,  and
accountants  as  necessary,  and  we do not  anticipate  a need  to  engage  any
full-time  employees  while we are  investigating  opportunities  and evaluating
Target Businesses. We will address the need for employees and their availability
at the time we make a decision to consummate a specific Business Combination.

We are a  corporate  vehicle  created  to effect a merger,  exchange  of capital
stock,  asset  acquisition,  or  other  similar  Business  Combination  with  an
operating or development stage business,  which desires to employ our Company to
become a reporting  corporation  under the Securities  Exchange Act of 1934 (the
"Exchange  Act"). On December 6, 2000, we registered our Common Stock, par value
$0.001  pursuant to Form 10-SB  registration  statement on a voluntary  basis in
order to create a reporting  Shell  company.  We have a shareholder  base of two
shareholders and 1,050,000 shares of Common Stock  outstanding,  all of which is
restricted  pursuant  to Rule 144 of the  Securities  Act of 1933,  as  amended.
Pursuant to resolution of our board of directors,  no Business  Combination  may
occur prior to our Company obtaining the requisite audited financial  statements
required pursuant to Form 8-K (or its equivalent) promulgated under the Exchange
Act.

As a Shell  corporation,  we face special risks  inherent in the  investigation,
acquisition, or involvement in a new business opportunity.  Further, as a new or
start-up company, we face all of the unforeseen costs,  expenses,  problems, and
difficulties related to new companies.

Since  inception,  we have  investigated  business  opportunities  to complete a
Business  Combination  transaction  with a Target  Business that has significant
growth  potential,  which, in the opinion of management,  could provide a profit
for our Company and our  shareholders.  We believe that such an opportunity  has
presented itself, and, in this regard, the Company and Mr. Chimelis entered into
a Memorandum  of  Understanding  with Coffee  Exchange of America's  Inc for the
purchase of 900,000  shares,  approximately  85.7% of the Company's  outstanding
common shares (See Note 5. Related Party Transaction).


















                                       2
<PAGE>

ITEM 1. DESCRIPTION OF BUSINESS (CONTINUED)

No  trading  market  in our  Common  Stock  presently  exists.  In  light of the
restrictions  concerning  Shell companies  contained in many state blue sky laws
and  regulations,  it is not likely that a trading market will be created in our
Common  Stock  until such time as the  Memorandum  of  Understanding  (discussed
above)  results in a signed  agreement  between the Company's  current  majority
shareholder and the Target Business,  Coffee Exchange of The America's,  Inc. We
cannot assure that a trading market in our Common Stock will develop,  after the
Business  Combination  occurs,  especially in light of the U.S.  Securities  and
Exchange   Commission's   view  that  Rule  144  is  not  available  for  resale
transactions for securities issued by Blank Check companies,  and that resale of
such securities cannot occur without registration under the Securities Act.

We cannot presently ascertain with any degree or certainty the costs required to
structure  and  consummate  the  identified  Business   Combination   (including
negotiating  relevant  agreements and preparing  requisite  documents for filing
pursuant to applicable securities laws and state blue sky and corporation laws).

ITEM 2. PROPERTIES

Our executive and business offices are currently  located at 7557 West Sank Lake
Road,  Suite  153,  Orlando,  FL  32819.  Pursuant  to an oral  arrangement,  we
sub-lease  our office  space on a  month-to-month  basis free of charge from Mr.
Chimelis,  our former sole officer and director and current director. We believe
this  office  space is  adequate  to serve  our  needs  until  such  time as the
identified  Business  Combination  with the Target  Business (See  Memorandum of
Understanding  discussed above) occurs.  Mr. Chimelis has agreed to continue the
current sub-lease  arrangement for office space, pursuant to the terms described
above,  until such time as the identified  Business  Combination with the Target
Business occurs. See "Certain Relationships and related Transactions."

ITEM 3. LEGAL PROCEEDINGS.

As of December 30, 2007, we are not a party to any material  legal  proceedings,
nor are we aware of any threatened litigation of a material nature.

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

No matter was  submitted  to a vote of our  security  holders  during the fourth
quarter of our fiscal year.



















                                       3
<PAGE>

                                     PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS.

Market Information

No public trading market presently  exists for the Company's Common Stock,  and,
other than the  execution of the  Memorandum of  Understanding  with Exchange of
America's,  Inc.  (See  discussion  above) there are no other plans,  proposals,
arrangements,  or understandings  with any person with regard to the development
of any trading  market in any of the Company's  securities.  No shares of Common
Stock have been  registered for resale under the federal  securities laws or the
blue sky laws of any state.  We cannot  guarantee  that any trading  market will
develop in our Common  Stock at any time in the future,  especially  in light of
the  U.S.  Securities  and  Exchange  Commission's  view  that  Rule  144 is not
available  for  resale   transactions  for  securities  issued  by  Blank  Check
companies,  and  that  the  resale  of  such  securities  cannot  occur  without
registration under the Securities Act. Further,  the holders of shares of Common
Stock and  persons  who may  desire to  purchase  shares of Common  Stock in any
trading market that might develop in the future,  should be aware that there may
be significant  state blue sky law restrictions upon the ability of shareholders
to sell their shares and of  purchasers  to purchase the shares of Common Stock.
Some  jurisdictions  may not allow the trading or resale of  blind-pool or Blank
Check  securities  under any  circumstances.  Accordingly,  shareholders  should
consider the secondary market for the Company's securities to be limited one.

We do not intend to develop any trading  market in the  Company's  Common  Stock
until such time as a  Business  Combination  is  effectuated  and the  requisite
audited financial  statements  required pursuant to Form 8-K (or its equivalent)
are filed with the SEC. No assurances are made,  however,  that a trading market
for the Company's Common Stock will ever develop.

Holders

As of December 30, 2007, two holders of record held our Common Stock.

Dividends

Since  inception,  the  Company  has not  declared  or paid cash  dividends.  No
restrictions  limit our  ability to pay  dividends  on our Common  Stock.  We do
expect to pay any dividends in the near future.

Recent Sales of Unregistered Securities

As of December  30, 2007,  we have issued an  aggregate  of 1,050,000  shares of
Common Stock as follows:

On January 31, 2000, we adopted and agreed to be bound by the items of an
organizational agreement. Mr. Chimelis, former sole officer and director and
current director, pursuant to which Mr. Chimelis agreed to provide cash in
return for the issuance to him of ouFr Company securities. Accordingly, on
January 31, 2000, we issued Mr. Chimelis a total of 1,000,000 shares of Common
Stock at $0.001 per share. The cash consideration provided by Mr. Chimelis
pursuant to the terms of the organizational agreement totaled $1,000.00.

In January 2000, the Company issued 50,000 shares valued at $50 as consideration
for services rendered by one of the two founding stockholders of the Company for
the formation of the Company.

The Company relied on Section 4(2) of the Securities  Act, since the transaction
did not involve any public offering.



                                       4
<PAGE>



ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS.
        (CONTINUED)

No underwriters  were utilized and no commissions or fees were paid with respect
to any of the above  transactions.  No other  shares of Common  Stock  have been
issued by our Company in any other transaction.

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

This Annual Report on Form 10-KSB should be read in conjunction with our audited
financial  statements  and notes,  which are attached  hereto  beginning on page
F-1and have been  incorporated  by reference  into Item 7 of this Report on Form
10-KSB.

This Annual Report on Form 10-KSB contains forward-looking  statements. For this
purpose,  any  statements  contained in it that are not statements of historical
fact should be regarded as forward-looking  statements.  For example,  the words
believe,   anticipates,   plans,   and   expects   are   intended   to  identify
forward-looking  statements.  There are a number of important factors that could
cause our Company's actual results to differ  materially from those indicated by
such forward-looking statements.

Plan of Operation

Big Sky  Industries  I, Inc.  is  presently a  development  stage  company  that
conducts   virtually   no   business   operations,   other  than   investigating
opportunities to effect a merger,  exchange of capital stock, asset acquisition,
or  other  similar  business  combination  (a  "Business  Combination")  with an
operating or development  stage business ("Target  Business"),  which desires to
employ  the  Company  to become a  reporting  corporation  under the  Securities
Exchange Act of 1934. To date, we have not engaged in any  operations,  nor have
we  generated  any  revenue;  it  has  not  received  cash  flow  from  business
operations.  The Company will carry out its plan of business as discussed above.
See "Description of Business." We do not have significant cash or other material
assets,  nor do we have an  established  source of  revenue  needed to cover the
costs of normal operations, which would allow us to continue as a going concern.
These  financial   statements  have  been  prepared  using  generally   accepted
accounting  principles  applicable to a going concern,  which  contemplates  the
realization  of assets and  liquidation  of  liabilities in the normal course of
business.  Our ability to meet those obligations and continue as a going concern
is  dependent  upon  us  raising  new  capital  through  advances  from  current
shareholders  and issuing equity  securities to complete a Business  Combination
transaction  with a Target  Business.  If it becomes  necessary  for us to raise
additional funds to support normal operations during the next twelve months, our
principal shareholder and former sole officer and director and current director,
Ramon Chimelis,  will advance funds as needed.  If we need to raise funds beyond
funds  needed for normal  operations,  we may choose to sell  additional  common
stock,  especially if we complete the identified  business  transaction with the
Target Business (See Memorandum of Understanding discussion above).

Since inception,  we have received a cash infusion of $1,165. With the exception
of certain other professional fees and costs related to a Business  Combination,
we expect that we will incur minimal  operating  costs and, as indicated  above,
our principal shareholder, former sole officer and director and current director
will advance funds,  as needed,  to meet our cash  requirements  during the next
twelve months. It is likely, however, that a Business Combination, including the
identified Business Combination discussed above, might not occur during the next
twelve months; and in the event that our principal  shareholder does not advance
adequate  funds to support  normal  operations  and we deplete our present  cash
reserves prior to completing a Business  Combination  transaction  with a Target
Business, we may cease operations and a Business Combination may not occur.



                                       5
<PAGE>


ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
        (CONTINUED)

Other than the identified Business  Combination  discussed above (See Memorandum
of  Understanding  entered  into  on  March  31,  2007;  Note 5,  Related  Party
Transaction)   we  have  not  yet  identified   another   Business   Combination
opportunity;   therefore,  we  are  unable  to  predict  our  cash  requirements
subsequent to a Business  Combination with an unidentified  Target Business.  As
indicated  above,  we may be  required to raise  capital  through the sale of or
issuance  of  additional  securities,  in order to  ensure  that we can meet our
operating  costs for the remainder of our fiscal year, if we complete a Business
Combination  transaction with a Target  Business.  In the event that we elect to
raise  additional  capital by selling  common stock,  prior to, or in connection
with, completing a Business Combination transaction,  we expect to do so through
the private placement of restricted securities.

There are no agreements or  understandings of any kind with respect to any loans
from  officers or directors of the Company on behalf of the Company,  other than
that describe above.

Our cash  reserves  have been minimal since  inception;  therefore,  we have not
compensated our officers or directors.  In the near term, we may compensate them
for their services by issuing them stock in lieu of cash.  Presently,  there are
no  arrangements  or  anticipated  arrangements  to pay any  type of  additional
compensation  to any officer or director.  Regardless of whether our cash assets
prove  to be  inadequate  to  meet  our  operational  needs,  we  might  seek to
compensate providers of services by the issuance of stock in lieu of cash.

ITEM 7.  FINANCIAL STATEMENTS

The Financial  Statements of the Company and the accompanying  notes thereto and
the  independent's  registered  public  accounting firm's report are included as
part of this Form 10-KSB and immediately  follow the signature page of this Form
10-KSB, beginning with page F-1.

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

Not applicable.

ITEM 8A. CONTROLS AND PROCEDURES

As required by the  Securities  Exchange Act of 1934 (the  "Exchange  Act"),  we
carried out an  evaluation of the  effectiveness  of the design and operation of
our disclosure  controls and procedures as of September 30, 2007, being the date
of our most recently  completed fiscal year end. This evaluation was carried out
under the supervision and with the participation of our chief executive officer.
Based upon that  evaluation,  our chief  executive  officer  concluded  that our
disclosure  controls and procedures are effective to ensure that the information
required to be  disclosed  by us in the reports that we file or submit under the
Exchange Act is recorded,  processed,  summarized  and reported  within the time
periods  specified  by the  rules  and  forms  of the  Securities  and  Exchange
Commission.

Disclosure  controls and procedures are controls and other  procedures  that are
designed to ensure that  information  required to be disclosed our reports filed
or  submitted  under the Exchange Act is  recorded,  processed,  summarized  and
reported,  within the time  periods  specified  in the  Securities  and Exchange
Commission's  rules and  forms.  Disclosure  controls  and  procedures  include,
without limitation, controls and





                                       6
<PAGE>

ITEM 8A. CONTROLS AND PROCEDURES (CONTINUED)

procedures  designed to ensure that information  required to be disclosed in our
reports  filed under the Exchange Act is  accumulated  and  communicated  by our
chief  executive   officer,   to  allow  timely  decisions   regarding  required
disclosure.  During our most recently  completed fiscal year ended September 30,
2007,  there were no changes in our internal  control over  financial  reporting
that have materially affected,  or are reasonably likely to affect, our internal
control over financial reporting.

The term  "internal  control over  financial  reporting" is defined as a process
designed by, or under the supervision of, the registrant's  principal  executive
and principal financial officers,  or persons performing similar functions,  and
effected by the registrant's board of directors, management and other personnel,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial  statements for external purposes in accordance
with generally  accepted  accounting  principles and includes those policies and
procedures that:

(1)  Pertain to the maintenance of records that in reasonable  detail accurately
     and fairly reflect the  transactions  and dispositions of the assets of the
     registrant;

(2)  Provide reasonable assurance that transactions are recorded as necessary to
     permit  preparation  of financial  statements in accordance  with generally
     accepted accounting  principles,  and that receipts and expenditures of the
     registrant  are  being  made  only in  accordance  with  authorizations  of
     management and directors of the registrant; and

(3)  Provide reasonable  assurance regarding of timely detection of unauthorized
     acquisition,  use or disposition of the registrant's assets that could have
     a material effect on the financial statements.

Our management,  including our chief executive officer, does not expect that our
disclosure  controls or our  internal  controls  will  prevent all error and all
fraud. A control system, no matter how well conceived and operated,  can provide
only  reasonable,  not absolute,  assurance  that the  objectives of the control
system are met.  Further,  the design of a control  system must reflect the fact
that there are  resource  constraints,  and the  benefits  of  controls  must be
considered relative to their costs.  Because of the inherent  limitations in all
control systems,  no evaluation of controls can provide absolute  assurance that
all control issues and instances of fraud,  if any, within our company have been
detected.  These  inherent  limitations  include the realities that judgments in
decision-making  can be faulty and that  breakdowns  can occur because of simple
errors or mistakes. Additionally, controls can be circumvented by the individual
acts of some  persons,  by  collusion  of two or more  people  or by  management
override of the control.  The design of any system of controls also is partially
based on certain  assumptions  about the  likelihood  of future  events,  and we
cannot  assure you hat any design will  succeed in  achieving  its stated  goals
under all potential future conditions. Over time, controls may become inadequate
because of changes in conditions,  or the degree of compliance with the policies
or  procedures  may  deteriorate.  Because  of  the  inherent  limitations  in a
cost-effective control system, misstatements due to error or fraud may occur and
not be detected.

ITEM 8B. OTHER INFORMATION.

Not Applicable.









                                       7
<PAGE>
<TABLE>
<CAPTION>

                                    PART III

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

Name                  Age                          Position
--------            ----------            ---------------------------
Carl Olivieri         45                  Chairman, CEO, President
Ramon Chimelis        41                  Director, Former President,
                                          Treasurer, Secretary

Mr. Olivieri,  is currently the chairman of the board,  chief executive  officer
and president of Big Sky Industries, I and has held that position since November
20, 2007.  Since  January 22, 2007,  he has held the position of chairman of the
board,  chief  executive  officer and president of Coffee Exchange of America's,
Inc. He previously served as chairman and CEO of Global Triad Inc. from February
2007 to  September  2007.  From October 2003 until  October  2006,  he served as
Executive Vice President and Director of Urban America Television network.

Mr.  Chimelis has served as our president,  treasurer,  and secretary  since our
inception in January 2000. Additionally, Mr. Chimelis is an officer and director
of other  Shell  companies  with  the same  business  plan as the  Company.  See
"Directors, Executive Officers, Promoters and Control Persons, Other Blank Check
Activities."  Since June 2003, Mr. Chimelis has been  self-employed,  engaged in
day trading.  Form January 2000 to June 2003, he was a shareholder,  officer and
director of Design Pallets, Inc., a manufacturer of corrugated pallets,  located
in Orlando,  Florida. From 1999 to January 2000, Mr. Chimelis was engaged in day
trading through  Gunslinger  Group,  Inc., a privately held investing firm. From
1998 to 1999 he served as a trader at the  broker-dealer  firm of JOQ Financial,
Inc.,  and from 1995 to 1998,  he was a stock  broker  at  Collner  Higgins  and
Higgins and Anderson. Mr. Chimelis studied business finance at Brevard Community
College from 1984 to 1989.

Other Blank Check Activities

Mr.  Chimelis  holds  identical  positions,   as  an  officer,   director,   and
shareholder,  for a total of nine other  Blank  Check  companies  plus serves as
shareholder and director Big Sky Industries,  I. The following table sets forth,
as of the date  hereof,  the  identities  of these  companies,  the  amount  and
percentage of beneficial  ownership held by Mr. Chimelis in such companies,  and
the percentage of time he intends to devote to the affairs of these companies.

                                                                                  Percent of Time
                                            Amount and Percentage of         Intended to Devote To the
           Name, Filing Type                 of Beneficial Ownership          Affairs of the Company
       ------------------------          ---------------------------        ---------------------------
<S>                                      <C>                                <C>

Big Sky Industries I, Inc.                  1,000,000 Shares (95.23%)                   5%
Form 10-SB/12G
SEC File No. 0-32067

Big Sky Industries II, Inc.                 1,000,000 Shares (95.23%)                   5%
Form 10-SB/12G
SEC File No. 0-32069

Big Sky Industries III, Inc.                1,000,000 Shares (95.23%)                   5%
Form 10-SB/12G
SEC File No. 0-32071





                                       8
<PAGE>



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



Big Sky Industries IV, Inc.              1,000,000 Shares (95.23%)                      5%
Form 10-SB/12G
SEC File No. 0-32073

Big Sky Industries V, Inc.               1,000,000 Shares (95.23%)                      5%
Form 10-SB/12G
SEC File No. 0-32097

Big Sky Industries VI, Inc.              1,000,000 Shares (95.23%)                      5%
Form 10-SB/12G
SEC File No. 0-32077

Big Sky Industries VII, Inc.
Form 10-SB/12G                           1,000,000 Shares (95.23%)                      5%
SEC File No. 0-3207
9
Big Sky Industries VIII, Inc.
Form  10-SB/12G                          1,000,000 Shares (95.23%)                      5%
SEC File No. 0-32075

Big Sky Industries IX, Inc.
Form  10-SB/12G                          1,000,000 Shares (95.23%)                      5%
SEC File No. 0-32083

Big Sky Industries X, Inc.
Form  10-SB/12G                          1,000,000 Shares (95.23%)                      5%
SEC File No. 0-32081

</TABLE>

The Company and each of these other  entities will be in  competition  with each
other for Target Businesses. Presently, no determination has been made as to the
priority  of these  companies,  with  respect  to the  order  with  which  these
companies  will  attempt to  effectuate  a Business  Combination,  once they are
prepared to effectuate a Business Combination.

As of the date hereof,  Mr.  Olivieri,  chairman of the board,  chief  executive
officer,  and president is the only persons who performs material  operations on
behalf of the Company, and he does not anticipate making any significant changes
in the  composition  of  Company  officers  or  directors,  until such time as a
Business  Combination  occurs.  Mr.  Olivieri  assumed his current  positions on
November 20, 2007. Mr. Chimelis,  former president,  treasurer,  secretary,  and
sole director and current  director was the only person who  performed  material
operations on behalf of the Company prior to November 20, 2007.

Each director is elected until the next Annual Meeting of shareholders and until
a successor is qualified. Ramon Chimelis is the initial promoter of the Company;
the Company had no other promoter.







                                       9
<PAGE>

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

COMMITTEES

Audit Committee Financial Expert

The Securities and Exchange  Commission has adopted rules  implementing  Section
407 of the  Sarbanes-Oxley  Act of 2002 requiring  public  companies to disclose
information  about "audit committee  financial  experts." As of the date of this
Annual report,  we do not have a standing Audit Committee.  The functions of the
Audit  Committee  are  currently   assumed  by  our  full  Board  of  Directors.
Additionally,  we do not have a member of our Board of Directors  that qualifies
as an "audit  committee  financial  expert." For that reason,  we do not have an
audit committee financial expert.

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

To the best of our  knowledge,  based  solely on a review of the  copies of such
reports  furnished to us and written  representation  that no other  reports are
required,   Section  16(a)  filing  requirements  applicable  to  our  officers,
directors,  and greater  than ten percent  beneficial  owners were filed  timely
during the most recent fiscal year.

ITEM 10. EXECUTIVE COMPENSATION

Compensation of Officers

During the period covered by this report, Mr.Chimelis, former president and sole
director  and  current  director  received  no  salary  or  any  other  type  of
compensation.  He had no  employment  agreement  with our  Company and we had no
other  executive  officers.  On November  20,  2007,  Mr.  Olivieri  assumed the
positions of chairman,  president,  and chief  executive  officer;  Mr. Chimelis
remains on the board of directors as a director.  Pursuant to  Instruction  5 to
Item 402 (a) (2) of Regulation  S-B, no table or column is provided in this Item
10 to this report on Form 10-KSB.

Mr. Chimelis was not bound by an employment agreement with the Company during
the period covered by this report. As a result, his relationship with the
Company could have been terminated at any time for any reason. On November 20,
2007, he resigned all positions he held with the Company, but remains as a
member of the board of directors.

Compensation of Directors

During the period covered by this report, Mr. Chimelis received no salary or any
other type of compensation  in his capacity as sole director of the Company.  As
of the date hereof,  we do not have in place a compensation  arrangement for our
directors for their  services as  directors,  for  committee  participation,  or
special assignments.

Employee Stock Option Plan

We have no stock option, retirement, pension, or profit-sharing programs for the
benefit  of  directors,  officers,  or other  employees;  however,  our board of
directors may recommend adoption of one or more such programs in the future.





                                       10
<PAGE>

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following  table sets forth,  as of the date hereof,  the names,  addresses,
amount and nature of beneficial  ownership and percent of such ownership of each
person or group  known to the  Company to be the  beneficial  owner of more than
five percent (5%) of the Company's Common Stock.


     Name and Address of           Amount and Nature
      Beneficial Owner          of Beneficial Ownership       Percent of Class
 ---------------------------   ------------------------       -----------------

Ramon Chimelis
7557 West Sand Lake Road
Suite 153
Orlando, Florida 32836                 1,000,000                   95.23%

The following table sets forth, as of the date hereof,  the names and addresses,
amount and nature of beneficial  ownership and percent of such  ownership of the
Company's Common Stock of each of the officers and directors of the Company, and
the officers and directors of the Company as a group.

     Name and Address of            Amount and Nature
       Beneficial Owner          of Beneficial Ownership       Percent of Class
 ---------------------------    ------------------------       ----------------
 Ramone Chimelis
 7557 West Sand Lake Road
 Suite 153
 Orlando, Florida 32836                1,000,000                   95.23%
 Carl Olivieri
 7557 West Sand lake Road
 Suite 153
 Orlando, Florida 32836                        0                       0%


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Although our  management has no current plans to cause the Company to do so, our
affiliates,  officers and directors (at September 30, 2007,  our Company had one
officer,  one  director,  and two  shareholders;  as of November 20,  2007,  the
Company had one  officer,  two  directors,  and two  shareholders)  may actively
negotiate for or otherwise  consent to the  disposition  of any portion of their
Common Stock as a condition  to or in  connection  with a Business  Combination.
Therefore,  it is  possible  that the  terms of any  Business  Combination  will
provide  for the sale of some  shares  of Common  Stock  held by  management  or
affiliates.  Thus,  it is likely  that none of our  other  shareholders  will be
afforded  the  right  to sell  pursuant  to the same  terms  that  such  selling
officers,  directors,  or affiliates will be provided.  Also, such  shareholders
will not be afforded an opportunity to approve or consent to such  management or
affiliate's  stock  purchase.  It is more  likely  than  not  that  any  sale of
securities by the Company's  current  stockholders  to an acquisition  candidate
would  be at a price  substantially  higher  than  the  originally  paid by such
stockholders.  Any payment to current  stockholders in context of an acquisition
involving  our Company would be  determined  entirely by the largely  unforeseen
terms of a future  agreement with an  unidentified  business entity or the terms
(not yet finalized) of the identified business entity (See Note 5, Related Party
Transaction).



                                       11
<PAGE>

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS (CONTINUED)

The  executive  and  business  offices of the  Company  consist of office  space
located at 7557 West Sand Lake Road, Suite 153, Orlando,  FL 32819.  Pursuant to
an oral  arrangement,  we sub-lease our office space on a  month-to-month  basis
free of charge from Mr.  Chimelis,  our former sole  officer  and  director  and
current  director.  We believe  this office space is adequate to serve our needs
until such time as a Business

Combination occurs, and we expect to be able to utilize these offices,  pursuant
to the terms described above, until such time as a Business Combination occurs.

Pursuant  to  Sections  607.0901(5)  and  607.0902(5)  of the  Florida  Business
Corporation Act, our Company has inserted  certain  provision in our articles of
incorporation,  which have the  effect of  removing  us from the  purview of the
control-share  acquisition and affiliated transaction statutes promulgated under
Sections  607.0901  and  607.0902 of the Florida  business  Corporation  Act and
hence, the protections afforded by such statues.

Section 607.0901 of the Florida Business  Corporation Act imposes limitations on
the exercise of corporate control, directly or indirectly, by a beneficial owner
of more than 10% of a  corporation's  outstanding  voting stock (an  "interested
shareholder").  The corporation's  "disinterested directors" as defined therein,
or a supermajority of the corporation's  shareholders (other than the interested
shareholder  and  related  parties)  are  required to approve  certain  business
combinations and corporate  transactions with the interested  shareholder or any
entity or  individual  controlled  by the  interested  shareholder  ("affiliated
transaction"), unless certain statutory exemptions apply, or the corporation has
opted out of the  affiliated  transactions  statue.  The  stated  purpose of the
affiliated  transactions  statute is to assure that Florida  shareholders who do
not tender their  shares in a hostile  takeover  offer  receive a fair price for
those shares in a second-step,  freeze-out transaction.  By removing the Company
from the purview of Florida's affiliated  transaction stature, the consideration
received by selling  shareholders in a "second-step"  transaction  could be less
than the  consideration  received  by the  selling  shareholders  in the initial
transaction.

Section  607.0902  of the  Florida  Business  Corporation  Act denies  corporate
control to an acquirer of control shares by  extinguishing  the voting rights of
shares of an "issuing public  corporation,"  as defined  therein,  acquired in a
"control share acquisition,"as  defined therein. Voting rights may be reinstated
to the extent provided in a shareholders'  resolution approved by (1) each class
or series entitled to vote separately on the proposal by a majority of all votes
entitled  to be cast by such  class  or  series  and (2) each  class  or  series
entitled to vote  separately on the proposal by a majority of all votes entitled
to be cast by  such  class  or  series,  excluding  all  "interested  shares"  (
generally  speaking,  those shares that may be voted by or at the direction of a
person who made a control-share  acquisition or an officer or  employee/director
of the subject "issuing public  corporation").  The acquisition of shares is not
directly  affected,  only the voting rights  attendant to control shares.  Other
shares of the same  corporation are owned or acquired by the same person are not
affected.

The  stated  purpose  of the  control  share  acquisition  statute is to protect
Florida shareholders by affording them an opportunity to decide whether a change
in corporate  control is desirable.  By removing the Company from the purview of
Florida's  control-share  acquisition  stature,  shares  of an  "issuing  public
corporation"  acquired  pursuant to a control  acquisition  are not deemed to be
"control-share  acquisitions," which, in the Company's case,  effectively denies
non-management/affiliate shareholders an opportunity to approve or consent to an
acquirer's  purchase  of such  management  or  affiliate's  stock  pursuant to a
Business Combination.

On November 30, 2007, the Company's board of directors  approved the movement of
its corporate charter from the state of Florida to the state of Nevada.





                                       12
<PAGE>


ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a)    Exhibits

31.1                Certification by Chief Executive Officer pursuant to Section
                    302 of the Sarbanes-Oxley Act of 2002.*

32.1                Certification  by Chief  Executive  Officer  pursuant  to 18
                    U.S.C Section  1350,  as adopted  pursuant to Section 906 of
                    the Sarbanes-Oxley Act of 2002.*

*Filed herewith

(b)  Reports on Form 8-K

          We filed one current report on Form 8-K, dated November 28, 2007, with
          the Securities Exchange  Commission,  pursuant to Item 5.02, reporting
          the resignation of Ramon Chimelis from the position of chief executive
          officer and president and the appointment of Carl Olivieri as chairman
          of the  board,  chief  executive  officer,  and  president  of Big Sky
          Industries I, Inc. We also reported pursuant to Item 5.03, "Amendments
          to Articles of Incorporation or By-Laws;  Change in Fiscal Year," that
          the board of directors  approved  the movement of Big Sky's  corporate
          charter from the state of Florida to the state of Nevada. No financial
          statements were filed with this current report.

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit Fees:

The Company incurred  aggregate fees and expenses from Patrick Rodgers,  CPA, PA
of $8,000 for the audit of fiscal years ended  September  30, 2007 and September
30, 2006, including review of the Company's financial statements included in its
Forms 10-QSB for the fiscal years ended  September  30, 2007 and  September  30,
2006, respectively.

Tax Fees:

The Company  did not incur any tax fees from  Patrick  Rodgers,  CPA, PA for the
fiscal years ended September 30, 2007 and 2006.

All Other Costs:

During  fiscal years ended  September  30, 2007 and 2006,  the Company  incurred
aggregate fees and expenses of $-0- from Patrick Rodgers,  CPA, PA for all other
services consisting of other fees and expenses.

Audit Committee:

All of the services  described  above for fiscal years ended  September 30, 2007
and 2006 were approved by Ramon Chimelis, the former president and sole director
and current director,  pursuant to the Company's policies and procedures. On May
22,  2007,  Patrick  Rodgers,  CPA,  PA was  appointed  as the  new  independent
registered  public  accounting firm, to provide  auditing and related  services,
including  review of the Company's  financial  statements  included in its Forms
10-QSB and Form 10-KSB,  beginning  with the quarter  ended June 30,  2003.  The
Company intends to continue using Patrick  Rodgers,  CPA, PA for audit and audit
related services, and as needed for due diligence in acquisitions.




                                       13
<PAGE>




                                   SIGNATURES

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

                                               BIG SKY INDUSTRIES I, INC.

Date:  January 7, 2008                         By: /s/ Carl Olivieri
                                               -------------------------------
                                               Carl Olivieri
                                               Chairman, President, and
                                               Chief Executive officer



Date: January 7, 2008                          By: /s/ Ramon Chimelis
                                               --------------------------------
                                               Ramon Chimelis
                                               Director























                                       14
<PAGE>

                           BIG SKY INDUSTRIES I, INC.
                              FINANCIAL STATEMENTS
                   FOR YEARS ENDED SEPTEMBER 30, 2007 AND 2006



                                TABLE OF CONTENTS



Balance Sheet as of September 30, 2007                                       F-3

Statements of Operations for the years ended
  September 30, 2007 and 2006                                                F-4

Statement of Stockholders' Equity (Deficit) for the
   Period January 31, 2000 (inception) to
   September 30, 2007                                                        F-5

Statement of Cash Flows for the years ended                                  F-6
   September 30, 2007 and 2006

Notes to Financial Statements                                        F-7 to F-12













                                       F-1





<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Board of Directors and Stockholders
Big Sky Industries I, Inc.
Orlando, Florida 32819

I have audited the  accompanying  balance  sheet of Big Sky  Industries  I, Inc.
("the Company"),  a development stage company, as of September 30, 2007, and the
related statements of operations, stockholders' equity (deficit), and cash flows
for the years ended September 30, 2007 and 2006. These financial  statements are
the responsibility of the Company's management.  My responsibility is to express
an opinion on these financial statements based on my audit.

I  conducted  my  audit in  accordance  with  standards  of the  Public  Company
Accounting Oversight Board (United States).  Those standards require that I plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial statement presentation.  I believe that my audit provides a reasonable
basis for my opinion.

In my opinion,  these  financial  statements  present  fairly,  in all  material
respects,  the financial  position of Big Sky Industries I, Inc. as of September
30,  2007 and the  results  of its  operations  and its cash flows for the years
ended  September  30, 2007 and 2006, in conformity  with  accounting  principles
generally accepted in the United States.

The  accompanying  financial  statements  have been  prepared  assuming that the
Company  will  continue  as a  going  concern.  As  discussed  in  Note 1 to the
financial  statements,  the Company has a continuing record of losses, a working
capital deficiency,  and negative  stockholders' equity which raises substantial
doubt about its ability to continue as a going  concern.  Management's  plans in
regard to these matters are also  described in Note 1. The financial  statements
do not  include  any  adjustments  that might  result  from the  outcome of this
uncertainty.



/s/ Patrick Rodgers, CPA, PA
Altamonte Springs, Florida
December 31, 2007











                                       F-2


<PAGE>


                            BIG SKY INDUSTIES I, INC.

                          (a Development Stage Company)

                                  BALANCE SHEET

                              AT SEPTEMBER 30, 2007


                                     ASSETS

  Cash                                                               $  --
                                                                     -------

TOTAL ASSETS                                                         $  --
                                                                     =======


                      LIABILITIES AND STOCKHOLDERS' DEFICIT

LIABILITIES

  Advances payable                                                     9,000
  Accrued expenses                                                   $ 3,568
                                                                     -------
TOTAL LIABILITIES                                                     12,568
                                                                     -------

STOCKHOLDERS' DEFICIT

  Preferred stock, no par value; 5,000,000 shares authorized,
  none outstanding

  Common stock, $.001 par value, 50,000 shares authorized
   1,050,000 shares issued and outstanding                             1,050
  Additional paid-in capital                                             187
  Deficit accumulated during the development stage                   (13,805)
                                                                     -------

TOTAL STOCKHOLDERS' DEFICIT                                          (12,568)
                                                                     -------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                          $  --
                                                                     =======















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


                                       F-3










<PAGE>
<TABLE>
<CAPTION>

                           BIG SKY INDUSTRIES I, INC.
                           (A Development Stage Company)
                             STATEMENT OF OPERATIONS



                                                                             Period From
                                                                              January 31,
                                                                                2000
                                           Year Ended        Year Ended     (Inception) to
                                          September 30,     September 30,    September 30,
                                              2007              2006             2007
                                           ----------        ----------       ----------
<S>                                        <C>               <C>              <C>



EXPENSES

General and administrative expenses        $    6,788        $     --          $   13,805
                                           ----------        ----------        ----------

NET LOSS BEFORE INCOME TAXES                    6,788              --              13,805

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

NET LOSS                                   $    6,788        $     --          $   13,805
                                           ==========        ==========        ==========

Basic and diluted loss per share           $     0.01        $     0.00        $     0.01
                                           ==========        ==========        ==========

Weighted average number of common
     shares outstanding
         (basic and diluted)                1,050,000         1,050,000         1,050,000
                                           ==========        ==========        ==========


</TABLE>


















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

                                       F-4









<PAGE>
<TABLE>
<CAPTION>


                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                   STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
        FOR THE PERIOD JANUARY 31, 2000 (INCEPTION) TO SEPTEMBER 30, 2007


                                                                           Deficit
                                                                         Accumulated
                                                              Additional During the
                                           Common Stock        Paid-in   Development
Description                            Shares       Amount     Capital      Stage        Total
                                      ---------   ---------   ---------   ---------    ---------
<S>                                   <C>         <C>         <C>         <C>          <C>




Issuance of common stock              1,000,000   $   1,000   $    --     $    --      $   1,000

Common stock exchanged for services      50,000          50        --          --             50

Capital contributed by stockholders        --          --           165         165

Net loss for the initial period
ended September 30, 2000                   --          --          --        (3,227)      (3,227)
                                      ---------   ---------   ---------   ---------    ---------

Balance, September 30, 2000           1,050,000       1,050         165      (3,227)      (2,012)

Net loss for the fiscal year
ended September 30, 2001                   --          --          --        (2,830)      (2,830)
                                      ---------   ---------   ---------   ---------    ---------

Balance, September 30, 2001           1,050,000       1,050         165      (6,057)      (4,842)

Net loss for the fiscal year
ended September 30, 2002                   --          --          --          (700)        (700)
                                      ---------   ---------   ---------   ---------    ---------

Balance, September 30, 2002           1,050,000       1,050         165      (6,757)      (5,542)

Capital Contibuted by stockholders         --          --            22        --             22

Net loss for the fiscal year
ended September 30, 2003                   --          --          --          (260)        (260)
                                      ---------   ---------   ---------   ---------    ---------

Balance, September 30, 2003           1,050,000       1,050         187      (7,017)      (5,780)

Net loss for the fiscal year
ended September 30, 2004                   --          --          --            --           --
                                      ---------   ---------   ---------   ---------    ---------

Balance, September 30, 2004           1,050,000       1,050         187      (7,017)      (5,780)


Net loss for the fiscal year
ended September 30, 2005                   --          --          --            --           --
                                      ---------   ---------   ---------   ---------    ---------
Balance, September 30, 2005           1,050,000       1,050         187      (7,017)      (5,780)

Net loss for the fiscal year
ended September 30, 2006                   --          --          --            --           --
                                      ---------   ---------   ---------   ---------    ---------
Balance, September 30, 2006           1,050,000    $  1,050     $   187    $ (7,017)    $ (5,780)

Net loss for the fiscal year
ended September 30, 2007                   --          --          --        (6,788)      (6,788)
                                      ---------   ---------   ---------   ---------    ---------
Balance, September 30, 2007           1,050,000    $  1,050     $   187    $(13,805)    $(12,568)
                                      =========   =========   =========   =========    =========

</TABLE>


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

                                       F-5


<PAGE>
<TABLE>
<CAPTION>

                            BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                             STATEMENT OF CASH FLOWS

                                                                                      Period From
                                                                                       January 31,
                                                                                          2000
                                                      Year Ended      Year Ended      (Inception) to
                                                     September 30,   September 30,     September 30,
                                                          2007            2006             2007
                                                        -------         -------          -------
<S>                                                     <C>             <C>              <C>

CASH FLOW FROM OPERATING ACTIVITIES:

 Net loss                                               $(6,788)         $  --         $(13,805)

 Adjustments to reconcile net loss to net
  cash used by operating activities:
 Common stock exchanged for services                        --              --               50
 Increase in accrued liabilities                          6,788             --           12,568
                                                        -------         -------         -------
NET CASH USED BY OPERATING ACTIVITIES                       --              --           (1,187)
                                                        -------         -------         -------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Sale of common stock                                   --              --            1,000
     Contribution of capital by stockholders                --              --              187
                                                        -------         -------         -------

NET CASH PROVIDED BY FINANCING
     ACTIVITIES                                             --              --            1,187
                                                        -------         -------         -------

NET DECREASE IN CASH                                        --              --              --

CASH AT BEGINNING OF PERIOD                                 --              --              --
                                                        -------         -------         -------

CASH AT END OF PERIOD                                    $  --           $  --           $  --
                                                        =======         =======         =======

SUPPLEMENTAL DISCLOSURES:

 Cash paid during the period for interest                $  --           $  --           $  --
                                                        =======         =======         =======

 Cash paid during the period for income taxes            $  --           $  --           $  --
                                                        =======         =======         =======

</TABLE>







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

                                       F-6







<PAGE>


                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2007 AND 2006



NOTE 1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business Activity and Organization
----------------------------------

Big Sky Industries I (the "Company") was  incorporated in Florida on January 31,
2000.  On November  20, 2007,  the  Company's  board of  directors  approved the
movement  of its  corporate  charter  from the state of  Florida to the state of
Nevada. The Company was organized as a "shell" company and conducts virtually no
business operation,  other than investigating  opportunities to associate with a
suitable  business  partner  and  identifying  merger  partners  or  acquisition
candidates.  The  Company  is a  development  stage  enterprise,  as  defined by
Financial  Accounting  Standards  ("FAS") No 7,  "Accounting  and  Reporting  by
Development Stage Enterprises."

Since  incorporation  in January 2000, the Company has been devoting its efforts
to activities such as raising capital,  establishing sources of information, and
developing  markets for its planned  operations.  As of September 30, 2007,  the
Company  has not  generated  any  revenue,  and,  as such,  it is  considered  a
development stage company.

Basis of presentation and going concern uncertainty
---------------------------------------------------

The financial  statements  of the Company have been  prepared  assuming that the
Company will continue as a going concern.  However,  since inception the Company
has incurred losses from operations of approximately  $14,000.  As a result, the
Company has a negative working capital and a negative  stockholders' equity. The
losses from  operations  are  primarily  attributable  to the overhead  expenses
deemed  necessary to support the  Company's  operations  during the  development
stage. In light of the Company's current financial  position and the uncertainty
of its ability to  consummate a business  Combination,  which would  involve the
acquisition,  a merger,  exchange of capital stock, asset acquisition,  or other
similar  business  combination (a "Business  Combination")  with an operating or
development stage business ("Target Business"), there is substantial doubt about
the Company's  ability to continue as a going concern.  The Company  anticipates
meeting its cash  requirements  through the financial  support of its management
and stockholders until it completes an acquisition or merger with a company

Use of Estimates
----------------

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect the  reported  amounts  of assets  and  liabilities  and  disclosures  of
contingent assets and liabilities at the date of these financial  statements and
the  reported  amounts of revenues and expenses  during the  reporting  periods.
Actual results could differ from those estimates.

Income Taxes
------------

The Company  computes  deferred income taxes under the provisions of FAS No.109,
which requires the use of an asset and liability method of accounting for income
taxes.  FAS No. 109 provides for the  recognition  and  measurement  of deferred
income tax  benefits  based on the  likelihood  of their  realization  in future
years. A valuation  allowance must be established to reduce  deferred income tax
benefits if it is more likely than not that a portion of the deferred income tax
benefits will not be realized.

                                       F-7

<PAGE>

                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2007 AND 2006

NOTE 1.  BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Earnings Per Common Share
-------------------------

The Company follows the provisions of the Financial Accounting Standards Board's
Statement of Financial  Accounting  Standards  ("SFAS")  No. 128  "Earnings  Per
Share." SFAS No. 128  requires  companies  to present  basic  earnings per share
("EPS")  and  diluted  EPS,  rather  than the  primary  and  fully  diluted  EPS
presentations  that were formerly  required by Accounting  Principles  Board No.
15,"Earnings Per Share." Basic EPS is computed by dividing net income or loss by
the  weighted  average  number of common  shares  outstanding  during  the year.
Diluted  EPS is  calculated  using the "if  converted"  method  for  convertible
securities  and the treasury stock method for options and warrants as previously
prescribed by Accounting Principles Board Opinion No. 15, "Earnings Per Share."

Cash and Cash Equivalents
-------------------------

The Company  considers all investments with original  maturities of three months
or less to be cash equivalents.

Fair value of financial instruments
-----------------------------------

In accordance with the reporting requirements of SFAS No. 107, Disclosures About
Fair Value of Financial  Instruments,  the Company  calculates the fair value of
its assets and  liabilities  which qualify as financial  instruments  under this
statement and includes this additional information in the notes to the financial
statements  when the fair value is different  than the  carrying  value of those
financial instruments.  The estimated fair value of the loans from related party
approximate   their  carrying  amounts  due  to  the  short  maturity  of  these
instruments. At September 30, 2007, the Company did not have any other financial
instruments.

Recent accounting pronouncements
--------------------------------

In July  2006,  the FASB  issued  FASB  Interpretation  No. 48,  Accounting  for
Uncertainty in Income Taxes (FIN 48). FIN 48 clarifies the accounting for income
taxes by  prescribing a minimum  probability  threshold that a tax position must
meet before a financial  statement benefit is recognized.  The minimum threshold
is  defined  in FIN 48 as a tax  position  that is more  likely  than  not to be
sustained  upon  examination  by  the  applicable  taxing  authority,  including
resolution  of  any  related  appeals  or  litigation  processes,  based  on the
technical  merits of the position.  The tax benefit to be recognized is measured
as the largest  amount of benefit that is greater than fifty  percent  likely of
being realized upon ultimate settlement.  FIN 48 must be applied to all existing
tax positions upon initial adoption. The cumulative effect of applying FIN 48 at
adoption,  if any,  is to be  reported  as an  adjustment  to  opening  retained
earnings for the year of adoption.  FIN 48 is effective for the  Company's  year
end 2007,  although  early  adoption is permitted.  The Company is assessing the
potential effect of FIN 48 on its financial statements.





                                       F-8

<PAGE>


                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2007 AND 2006


NOTE 1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

In  February  2006,  the FASB issued SFAS 155,  "Accounting  for Certain  Hybrid
Financial   Instruments."   This  Statement  amends  FASB  Statements  No.  133,
Accounting  for  Derivative  Instruments  and Hedging  Activities,  and No. 140,
Accounting for Transfers and Servicing of Financial  Assets and  extinguishments
of  Liabilities.  This  Statement  resolves  issues  addressed in Statement  133
Implementation  Issue  No.  Dl,  "Application  of  Statement  133 to  Beneficial
Interests in Securitized Financial Assets." This Statement:

a)   Permits fair value  re-measurement for any hybrid financial instrument that
     contains an embedded derivative that otherwise would require bifurcation.

b)   Clarifies  which  interest-only  strips and  principal-only  strips are not
     subject to the requirements of Statement 133.

c)   Establishes a requirement to evaluate  interests in  securitized  financial
     assets to identify interests that are freestanding  derivatives or that are
     hybrid financial  instruments that contain an embedded derivative requiring
     bifurcation.

d)   Clarifies that  concentrations  of credit risk in the form of subordination
     are not embedded derivatives.

Amends  Statement 140 to eliminate  the probation on qualifying  special-purpose
entity  from  holding a  derivative  financial  instrument  that  pertains  to a
beneficial interest other than another derivative financial instrument.

The fair value  election  provided for in paragraph  4(e) of this  Statement may
also be applied upon adoption of this Statement for hybrid financial instruments
that had been  bifurcated  under  paragraph  12 of  Statement  133  prior to the
adoption of this Statement. Earlier adoption is permitted as of the beginning of
our fiscal year, provided we have not yet issued financial statements, including
financial statements for any interim period, for that fiscal year. Provisions of
this  Statement  may be  applied  to  instruments  that we  hold at the  date of
adoption on an instrument-by-instrument basis.

Adoption of this  Statement is required as of the  beginning of the first fiscal
year that begins after September 15, 2005. The adoption of this statement is not
expected to have a material impact on the company's financial statements.

In March 2006, The FASB issued SEAS 156,  "Accounting for Servicing of Financial
Assets." This Statement amends FASB Statement No. 140,  Accounting for Transfers
and  Servicing of Financial  Assets and  Extinguishments  of  Liabilities,  with
respect  to the  accounting  for  separately  recognized  servicing  assets  and
servicing liabilities. This Statement:

a)   Requires an entity to recognize a servicing  asset or  servicing  liability
     each time it  undertakes  an  obligation  to service a  financial  asset by
     entering into a servicing contract in certain situations.

b)   Requires  all  separately   recognized   servicing   assets  and  servicing
     liabilities to be initially measured at fair value, if practicable.

                                       F-9



<PAGE>



                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2007 AND 2006


NOTE 1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

c)   Permits  an entity to choose  either  the  amortization  method or the fair
     value measurement method for each class of separately  recognized servicing
     assets and servicing liabilities.

d)   At  its  initial   adoption,   permits  a  one-time   reclassification   of
     available-for-sale  securities  to  trading  securities  by  entities  with
     recognized servicing rights, without calling into question the treatment of
     other available-for-sale  securities under Statement 115, provided that the
     available-for-sale  securities  are identified in some manner as offsetting
     the  entity's  exposure  to changes in fair  value of  servicing  assets or
     servicing  liabilities  that a servicer elects to  subsequently  measure at
     fair value.

e)   Requires   separate   presentation   of  servicing   assets  and  servicing
     liabilities  subsequently  measured  at  fair  value  in the  statement  of
     financial position and additional disclosures for all separately recognized
     servicing assets and servicing liabilities.

Adoption of this  Statement is required as of the  beginning of the first fiscal
year that begins after September 15, 2006. The adoption of this statement is not
expected to have a material impact on the company's financial statements.

In September 2006, the FASB issued Statement No. 157, "Fair Value Measurements."
This  Statement  defines fair value,  establishes a framework for measuring fair
value in generally accepted  accounting  principles and expands disclosure about
fair value  measurement.  The implementation of this guidance is not expected to
have any impact on the company's financial statements.

In September 2006, the FASB issued Statement of Financial  Accounting  Standards
No.  158,   "Employers'   Accounting  for  Defined  Benefit  Pension  and  Other
Postretirement  Plans,  an amendment of PASS Statements No. 87, 106, and 132(R)"
("SFAS No. 158").  SFAS No. 158 requires  companies to recognize a net liability
or asset and an offsetting  adjustment to accumulate other comprehensive  income
to report the funded status of defined benefit pension and other  postretirement
benefit plans. SFAS No. 158 requires  prospective  application,  recognition and
disclosure  requirements effective for the company's fiscal year ending December
31, 2007.  Additionally,  SFAS No. 158 requires companies to measure plan assets
and  obligations  at their  year-end  balance sheet date.  This  requirement  is
effective for the company's fiscal year ending December 31, 2009. The company is
currently  evaluating  the impact of the  adoption  of SFAS No. 258 and does not
expect that it will have a material impact on its financial statements.











                                      F-10



<PAGE>

                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2007 AND 2006


NOTE 1.  BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

In September 2006, the United States Securities and Exchange Commission ("SEC"),
adopted SAB No. 108,  "Considering the Effects of Prior Year  Misstatements when
Quantifying  Misstatements  in  Current  Year  Financial  Statements."  This SAB
provides   guidance  on  the   consideration   of  the  effects  to  prior  year
misstatements  in quantifying  current year  misstatements  for the purpose of a
materiality   assessment.   SAB  108   establishes  an  approach  that  requires
quantification of financial statement errors based on the effects of each of the
company's balance sheet and statement of operations financial statements and the
related  financial  statement  disclosures.  The  SAB  permits  existing  public
companies to record the cumulative effect of initially applying this approach in
the first year  ending  after  November  15,  2006 by  recording  the  necessary
correcting  adjustments to the carrying  values of assets and  liabilities as of
the  beginning  of that  year with the  offsetting  adjustment  recorded  to the
opening balance of retained  earnings.  Additionally,  the use of the cumulative
effect transition  method requires detailed  disclosure of the nature and amount
of each individual error being corrected  through the cumulative  adjustment and
how and when it arose. The company is currently  evaluating the impact,  if any,
that  SAB 108 may have on the  company's  results  of  operations  or  financial
position.

NOTE 2. ADVANCES PAYABLE

Advances payable represents  short-term advances to the Company by a third party
for the payment of certain operating expenses incurred during the fourth quarter
of the fiscal year ended  September 30, 2007.  These  advances are  non-interest
bearing and due on demand.

NOTE 3. LOSS PER COMMON SHARE

Net loss per common share  outstanding for the year ended September 30, 2007 and
2006, as shown on the Statement of Operations,  is based on the number of common
shares   outstanding  at  the  balance  sheet  date.   Weighted  average  shares
outstanding   was  not  computed  since  it  would  not  be  meaningful  in  the
circumstances, as all shares issued during the period from incorporation through
September  30,  2007  were  for  initial  capital  and were  issued  to just two
individuals.  Therefore,  the total shares  outstanding at the end of the period
were deemed to be the most relevant number of shares to use for purposes of this
disclosure.  For the year ended  September 30, 2007 and 2006,  basic and diluted
weighted  average  common shares include only common shares  outstanding,  since
there were no common share equivalents.

NOTE 4. CAPITAL STOCK

Common Stock
------------

The holders of the common  stock are  entitled to one vote per share;  they have
non-cumulative voting rights. The holders are also entitled to receive dividends
when, as, and if declared by the board of directors.  Additionally,  the holders
of the  common  stock do not have any  preemptive  right to  subscribe  for,  or
purchase any shares of any class of stock.


                                      F-11


<PAGE>

                           BIG SKY INDUSTRIES I, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE YEARS ENDED SEPTEMBER 30, 2007 AND 2006

NOTE 4. CAPITAL STOCK (CONTINUED)

In January  2000,  the Company  issued  1,000,000  shares of common stock at par
value per share,  for a total of $1,000.  A stock  subscription  receivable  was
recorded at the date of  issuance  for the same  amount,  which was paid in June
2000.

In January 2000, the Company issued 50,000 shares valued at $50 as consideration
for services rendered by one of the two founding stockholders of the Company for
the formation of the Company.

Preferred Stock

The board of directors of the Company is  authorized to provide for the issuance
of preferred stock in classes or series, and, by filing the appropriate articles
of amendment with the Secretary of State of Florida, is authorized

to establish the number of shares to be included in each class or series,  which
may include a conversion feature into common stock. As of September 30, 2007, no
shares of  preferred  stock have  issued  and no  preferences,  limitations,  or
relative rights have been assigned.

NOTE 5. RELATED PARTY TRANSACTION

In January 2000, the Company issued 50,000 shares valued at $50 as consideration
for services rendered by one of the two founding stockholders of the Company for
the formation of the Company.

On  March  31,  2007,  the  Company  and Mr.  Chimelis  signed a  Memorandum  of
Understanding  ("MOU") with Coffee Exchange of America's Inc.  ("CEOTA") for the
purchase  of 950,000 of Mr.  Chimelis'  shares,  or  approximately  85.7% of the
Company's issued and outstanding common shares. The MOU provides that CEOTA will
make  payments of $2,500 and $1,059 for unpaid audit fees and state  corporation
fees, respectively,  and $30,000 to the Company's shareholders before the common
shares are transferred to CEOTA. As of December 31, 2007, all payments, provided
for  under the terms of the MOU,  have not been  made by CEOTA;  therefore,  the
transaction has not been completed.

NOTE 6. INCOME TAXES

At September 30, 2007,  the Company had a net  operating  loss  carryforward  of
approximately $13,805. This loss may be carried forward to offset federal income
taxes in future years through the year 2027.  However, if subsequently there are
ownership  changes in the  Company,  as defined in Section  382 of the  Internal
Revenue Code, the Company's  ability to utilize net operating  losses  available
before the  ownership  change may be  restricted  to a percentage  of the market
value of the Company at the time of the ownership change.

Therefore, substantial net operating loss carryforwards could, in all
likelihood, be limited or eliminated in future years due to a change in
ownership as defined in the Code. The utilization of the remaining carryforwards
is dependent on the Company's ability to generate sufficient income during the
carryforward periods and no further significant changes in ownership.

It is management's opinion that the entire deferred tax benefit of approximately
$2,600, resulting from the net operating loss carryforward may not be recognized
in future  years.  Therefore,  a  valuation  allowance  of $2,600,  equal to the
deferred  tax  benefit,  has been  established,  resulting  in no  deferred  tax
benefits as of the balance sheet date.


                                      F-12

<PAGE>