UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
 
 FORM
10-Q
 
 (Mark
      One)[X]  QUARTERLY REPORT PURSUANT TO
      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934For
      the quarterly period ended November 30, 2009[  ]  TRANSITION REPORT PURSUANT TO
      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934For
      the transition period from __________ to
  ______________
 
 000-52141
 (Commission
File Number)
  CASCADE
TECHNOLOGIES CORP.
 (Exact name of
registrant as specified in its charter)
 
 Wyoming
              98-0440633(State
      or other jurisdiction of incorporation or organization)
              (I.R.S.
      Employer Identification No.)1530 9thAve SE, Calgary, Alberta
              T2G 0T7(Address
      of principal executive offices)
              (Zip
      Code)(403) 693-8000(Registrant’s
      telephone number, including area code)(Former
      name, former address and former fiscal year, if changed since last
      report)
 
 Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.
 
 Yes
      [X]  No [  ]Yes
      [X]  No [  ]
 
 Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this
chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).
 
 Yes
      [  ]  No
[  ]
 
 Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.  See the definitions of “large accelerated filer,”
“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the
Exchange Act.
 
 Large
      accelerated filer
              [  ]
              Accelerated
      filer
              [  ]Non-accelerated
      filer
              [  ]
              Smaller
      reporting company
              [X](Do
      not check if a smaller reporting company)
 
 
  Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).
 
 Yes
      [  ]  No [X]
 
 APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
 PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:
 
 Indicate
by check mark whether the registrant filed all documents and reports required to
be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934
subsequent to the distribution of securities under a plan confirmed by a
court.
 
 Yes
      [  ]  No
[  ]
 
 APPLICABLE
ONLY TO CORPORATE ISSUERS
 
 163,950,000 common shares outstanding as of
      December 31, 2009(Indicate
      the number of shares outstanding of each of the issuer’s classes of common
      stock, as of the latest practicable
date.)
  2
  CASCADE
TECHNOLOGIES CORP.
 TABLE
OF CONTENTS
 
 
 PagePART
      I – FINANCIAL INFORMATIONItem
      1.
              Financial
      Statements
              3Item
      2.
              Management’s
      Discussion and Analysis of Financial Condition and Results of
      Operations
              4Item
      3.
              Quantitative
      and Qualitative Disclosures About Market Risk
              6Item
      4T.
              Controls
      and Procedures
              6PART
      II – OTHER INFORMATIONItem
      1.
              Legal
      Proceedings
              6Item
      1A.
              Risk
      Factors
              7Item
      2.
              Unregistered
      Sales of Equity Securities and Use of Proceeds
              7Item
      3.
              Defaults
      Upon Senior Securities
              7Item
      4.
              Submission
      of Matters to a Vote of Security Holders
              7Item
      5.
              Other
      Information
              7Item
      6.
              Exhibits
              7SIGNATURES
              8
 
  i
  PART
I
 
 ITEM
1.                                FINANCIAL
STATEMENTS
 
 The
accompanying unaudited financial statements have been prepared in accordance
with generally accepted accounting principles for interim financial information
and with the instructions for Form 10-Q and Article 210 8-03 of Regulation
S-X.  Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements.  In the opinion of management, all adjustments
considered necessary for a fair presentation have been included.  All
such adjustments are of a normal recurring nature.  Operating results
for the three month period ended November 30, 2009, are not necessarily
indicative of the results that may be expected for the fiscal year ending August
31, 2010.  For further information refer to the financial statements
and footnotes thereto included in the Company’s Annual Report on Form 10-K for
the fiscal year ended August 31, 2009.
 
 
 PageFinancial
      StatementsConsolidated
      Balance Sheets
              F-1Consolidated
      Statements of Operations
              F-2Consolidated
      Statements of Cash Flows
              F-3Notes
      to Unaudited Consolidated Financial Statements
              F-4 to F-7
  3
  
 CASCADE
      TECHNOLOGIES CORP.
                (A
      DEVELOPMENT STAGE COMPANY)
                CONSOLIDATED
      BALANCE SHEETSNovember
      30,
                2009
              
              
              August
      31,
                2009(Unaudited)
              
              
              (Audited)Current
      assetsCash
              
              $
              690
              
              
              $
              715Total
      current assets
              
              
              690
              
              
              
              715Total
      assets
              
              $
              690
              
              
              $
              715LIABILITIES
      AND STOCKHOLDERS’ DEFICITCurrent
      liabilitiesAccounts
      payable and accrued expenses
              
              $
              21,351
              
              
              $
              15,193Accrued
      interest
              
              
              3,484
              
              
              
              2,754Short-term
      loan
              
              
              37,590
              
              
              
              36,168Total
      current liabilities
              
              
              62,425
              
              
              
              54,115Total
      liabilities
              
              
              62,425
              
              
              
              54,115Stockholders'
      deficitCommon
      stock; no par value, 750,000,000 shares authorized, 163,950,000 shares
      issued and outstanding
              
              
              94,000
              
              
              
              94,000Accumulated
      deficit during development stage
              
              
              (155,735
              )
              
              
              (147,400
              )Total
      stockholders' deficit
              
              
              (61,735
              )
              
              
              (53,400
              )Total
      liabilities and stockholders' deficit
              
              $
              690
              
              
              $
              715
 
 SEE
ACCOMPANYING NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
 
  F-1
  CASCADE
      TECHNOLOGIES CORP.
                (A
      DEVELOPMENT STAGE COMPANY)
                CONSOLIDATED
      STATEMENTS OF OPERATIONS
                (Unaudited)Three
      months ended
                November
      30,
              
              
              January
      16, 2004 (Inception) to November 30, 20092009
              
              
              2008Revenues
              
              $
              -
              
              
              $
              -
              
              
              $
              6,672Cost
      of revenues
              
              
              -
              
              
              
              -
              
              
              
              6,221Gross
      profit
              
              
              -
              
              
              
              -
              
              
              
              451Operating
      expensesProfessional
      services
              
              
              7,165
              
              
              
              9,345
              
              
              
              93,394Foreign
      exchange
              
              
              84
              
              
              
              -
              
              
              
              2,206Selling,
      general and administrative fees
              
              
              356
              
              
              
              1,676
              
              
              
              119,261Total
      operating expenses
              
              
              (7,605
              )
              
              
              (11,021
              )
              
              
              (214,861
              )Other
      expenseInterest
      expense
              
              
              (730
              )
              
              
              (470
              )
              
              
              (3,709
              )Debt
      forgiveness
              
              
              -
              
              
              
              -
              
              
              
              58,763Total
      other expense
              
              
              (730
              )
              
              
              (470
              )
              
              
              55,054Loss
      from continuing operations
              
              
              (8,335
              )
              
              
              (11,491
              )
              
              
              (159,356
              )Income
      from discontinued operations
              
              
              -
              
              
              
              -
              
              
              
              3,621Net
      loss
              
              $
              (8,335
              )
              
              $
              (11,491
              )
              
              $
              (155,735
              )Basic
      loss per common share
              
              $
              (0.00
              )
              
              $
              (0.00
              )Basic
      weighted average common shares outstanding
              
              
              163,950,000
              
              
              
              163,950,000
 
 SEE
ACCOMPANYING NOTES TO THE INTERIM CONSOLIDATED FINANCIAL
STATEMENTS
  F-2
  
 CASCADE
      TECHNOLOGIES CORP.
                (A
      DEVELOPMENT STAGE COMPANY)
                CONSOLIDATED
      STATEMENTS OF CASH FLOWS
                (Unaudited)Three
      months ended November 30,
              
              
              January
      16, 2004 (Inception) to November 30, 20092009
              
              
              2008Cash
      flow from operating activities:Net
      loss
              
              $
              (8,335
              )
              
              $
              (11,491
              )
              
              $
              (155,735
              )Adjustments
      to reconcile net loss to net cash used by operating
      activities:Stock
      based compensation
              
              
              -
              
              
              
              -
              
              
              
              1,000Changes
      in operating assets and liabilities:Decrease
      (increase) to prepaid expense
              
              
              -
              
              
              
              600
              
              
              
              -Increase
      in accounts payable
              
              
              6,158
              
              
              
              9,050
              
              
              
              21,351Increase
      in accrued interest
              
              
              730
              
              
              
              470
              
              
              
              3,484Net
      cash used by operating activities
              
              
              (1,447
              )
              
              
              (1,371
              )
              
              
              (129,900
              )Cash
      flows from financing activities:Short-term
      loan
              
              
              1,422
              
              
              
              81
              
              
              
              37,590Proceeds
      from issuance of common stock
              
              
              
              
              
              
              
              
              
              
              93,000Net
      cash provided by financing activities
              
              
              1,422
              
              
              
              81
              
              
              
              130,590Net
      change in cash
              
              
              (25
              )
              
              
              (1,290
              )
              
              
              690Cash,
      beginning of period
              
              
              715
              
              
              
              1,435
              
              
              
              -Cash,
      end of period
              
              $
              690
              
              
              $
              145
              
              
              $
              690
 
 SEE ACCOMPANYING NOTES TO THE INTERIM
CONSOLIDATED FINANCIAL STATEMENTS.
 
  F-3
  CASCADE
TECHNOLOGIES CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
 NOVEMBER
30, 2009
 (UNAUDITED)
 
 NOTE 1 - ORGANIZATION AND SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES
 
 (a)
              Basis
      of Presentation
 
 The
accompanying financial statements of Cascade Technologies Corp. (the “Company”)
should be read in conjunction with the Company’s most recent filing of the Form
10-K which included the financial statements as of August 31, 2009. Significant
accounting policies disclosed therein have not changed except as noted
below.  Certain items in previous periods have been reclassified on
the statements of operations to conform to the current period
presentation.
 
 On
January 20, 2009, the Company completed a fifteen-for-one common stock split in
the form of special stock distribution to stockholders of record as at December
15, 2008. The effect of the stock split has been recognized retroactively in the
stockholders’ deficit accounts as of January 16, 2004, and in all shares and per
share data in the consolidated financial statements.
 
 The
Company incorporated Cascade Solar Corp. (“Cascade Solar”) on March 23, 2009 in
the State of Nevada, as a wholly-owned subsidiary.
 
 In the
opinion of management, the accompanying unaudited consolidated condensed
financial statements of Cascade Technologies Corp. and its wholly owned
subsidiary, Cascade Solar Corp. contain all adjustments necessary to present
fairly the financial position as of November 30, 2009 and the results of
operations and cash flows. All intercompany transactions have been
eliminated.
 
 August 31
is our fiscal year end.
 
 (b)
              Organization
      and Business:
 
 Cascade
Technologies Corp. (“Cascade”, “the Company”, “we”, or “our Company”) was
incorporated on January 16, 2004 in the State of Wyoming as Akron Technologies,
Inc. We changed our name to Cascade Technologies Corp. on March 9,
2004.
 
 On
September 10, 2008, Crest Capital Corp., a private Belize company, purchased a
total of 150,000,000 of the 163,950,000 post split issued and outstanding shares
of common stock of Cascade Technologies Corp. (the "Company") from the directors
and officers of the Company, for cash totaling $1,000.  The total of
150,000,000 shares represented 91.5% of the shares of outstanding common stock
of the Company at the time of transfer and effected a change in control of the
Company.
 
 Going
Concern
 
 The
accompanying financial statements have been prepared in conformity with
generally accepted accounting principles, which contemplate continuation of the
Company as a going concern.  The Company has determined to undertake a
change of business, is not currently generating revenue, is considered a
development stage company, has experienced recurring net operating losses, had
an accumulated deficit of $155,735 and had a working capital deficiency of
$61,735 as of November 30, 2009. These factors raise substantial doubt about the
Company’s ability to continue as a going concern. Management plans to issue more
shares of common stock in order to raise funds. These financial statements do
not include any adjustments relating to the recoverability and classification of
recorded asset amounts, or amounts and classification of liabilities that might
result from this uncertainty.
  F-4
  CASCADE
TECHNOLOGIES CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
 NOVEMBER
30, 2009
 (UNAUDITED)
 
 NOTE 1 -ORGANIZATION AND SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES (Cont’d)
 
 (c)
              Loss
      per common share:
 
 Basic
      loss per share is calculated using the weighted-average number of common
      shares outstanding during each reporting period. Diluted loss per share
      includes potentially dilutive securities such as outstanding options and
      warrants, using various methods such as the treasury stock or modified
      treasury stock method in the determination of dilutive shares outstanding
      during each reporting period. The Company does not have any potentially
      dilutive instruments.
 
 (d)
              Fair
      value of financial instruments:
 
 The
      carrying value of cash equivalents and accrued expenses approximates fair
      value due to the short period of time to
  maturity.
 
 (e)
              Revenue
      recognition:
 
 The
      Company determined to change its business from an online stocking
      distributor, buying and selling semiconductors, electro-mechanical and
      passive components to a company seeking projects in the renewable energy
      sector and has recently also reviewed and entertained other potential
      business acquisitions outside of the renewable energy
    sector.
 
 Formerly,
      revenue from the sale of products has been recognized when title to the
      products was transferred to the customer (upon shipment) and only when no
      further contingencies or material performance obligations were warranted,
      and thereby having earned the right to receive and retain reasonably
      assured payments for products sold and delivered. The Company has now
      ceased operations as a stocking distributor and is presently in the
      process of formulating a business plan for its anticipated operations in
      the renewable energy sector as well as reviewing other acquisition
      opportunities. Dependent on the acquisitions completed by the Company in
      various business sectors, a new policy of revenue recognition will be
      adopted upon approval of the 2010 strategic
  plan.
 
 (f)
              Use
      of estimates and assumptions:
  Preparation
      of the financial statements in conformity with accounting principles
      generally accepted in the United States requires management to make
      estimates and assumptions that affect certain reported amounts and
      disclosures.  Accordingly, actual results could differ from
      those estimates.
 
 (g)
              New
      accounting pronouncements:
 
 In
      June 2009 the FASB established the Accounting Standards Codification
      ("Codification" or "ASC") as the source of authoritative accounting
      principles recognized by the FASB to be applied by governmental entities
      in the preparation of financial statements in accordance with generally
      accepted accounting principles in the United States ("GAAP"). Rules and
      interpretive releases of the Securities and Exchange Commission ("SEC")
      issued under authority of federal securities laws are also sources of GAAP
      for SEC registrants. Existing GAAP was not intended to be changed as a
      result of the Codification, and accordingly the change did not impact our
      financial statements. The ASC does change the way the guidance is
      organized and presented.
 
  F-5
  CASCADE
TECHNOLOGIES CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
 NOVEMBER
30, 2009
 (UNAUDITED)
 
 NOTE 1 - ORGANIZATION AND SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES (Cont’d)
  (g)
                New
      accounting pronouncements
(Continued):
 
 Statement
of Financial Accounting Standards ("SFAS") SFAS No. 165 (ASC Topic 855),
"Subsequent Events", SFAS No. 166 (ASC Topic 810), "Accounting for Transfers of
Financial Assets-an Amendment of FASB Statement No. 140", SFAS No. 167 (ASC
Topic 810), "Amendments to FASB Interpretation No. 46(R)", and SFAS No. 168 (ASC
Topic 105), "The FASB Accounting Standards Codification and the Hierarchy of
Generally Accepted Accounting Principles-a replacement of FASB Statement No.
162" were recently issued. SFAS No. 165, 166, 167, and 168 have no current
applicability to the Company or their effect on the financial statements would
not have been significant.
 
 Accounting
Standards Update ("ASU") ASU No. 2009-05 (ASC Topic 820), which amends Fair
Value Measurements and Disclosures - Overall, ASU No. 2009-13 (ASC Topic 605),
Multiple-Deliverable Revenue Arrangements, ASU No. 2009-14 ASC Topic 985),
Certain Revenue Arrangements that include Software Elements, and various other
ASU's No. 2009-2 through ASU No. 2009-15 which contain technical corrections to
existing guidance or affect guidance to specialized industries or entities were
recently issued.
 
 These
updates have no current applicability to the Company or their effect on the
financial statements would not have been significant.
 
 (h)
              Development
      stage company:
 
 The
accompanying financial statements have been prepared in accordance with the
Statement of Financial Accounting Standards No. 7 (ASC Topic 915) "Accounting
and Reporting by Development Stage Enterprises". A development stage enterprise
is one in which planned principal operations have not commenced or if its
operations have commenced, there has been no significant revenue there from.
Development-stage companies report cumulative costs from the enterprise's
inception.
  NOTE 2 - SHORT-TERM LOAN
 
 As of November 30, 2009, the Company had two unsecured due on demand notes
bearing interest at 8%, due to two former shareholders of the Company in
the amount of $37,590.
  F-6
  CASCADE
TECHNOLOGIES CORP.
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
 NOVEMBER
30, 2009
 (UNAUDITED)
 
 NOTE
3 – SUBSEQUENT EVENTS:
 
 On
November 30, 2009, the Board of Directors approved the issuance of a dividend to
shareholders of record as at December 18, 2009, whereby shareholders will
receive 2.64 dividend shares for each one share currently held. The proposed
date for the dividend distribution was December 21, 2009. The dividend was
subject to the cancellation of the 142,110,816 shares of the Company. On
December 17, 2009, the Company’s Board of Directors entered into an amendment to
the memorandum of agreement whereby the Company established a new record date of
December 30, 2009 and a payment date of January 2, 2010 for the dividend
distribution.  As well, the amendment provided for the cancellation of
the 142,110,816 shares (plus any dividends paid on the shares) at the discretion
of the Board of Directors. The dividend will not be effected as of January 2,
2010 as the Company is currently reviewing amending documentation to the
potential acquisition described below which may impact on the number of shares
to be cancelled. Therefore the Board of Directors has determined not to finalize
the submission to the requisite regulatory authorities until such time as the
final agreements can be reached. The record date will remain as December 30,
2009 as at the time of this filing.
 
 In early
November 2009, the Company was contacted in regard to a potential business
acquisition outside of the renewable energy sector. The Company reviewed the
acquisition opportunity and entered into a confidential non-binding memorandum
of understanding, with Spectral Molecular Imaging, Inc. (“SMI”) in regard to
this business opportunity. Subsequently, on December 11, 2009, the Company and
SMI entered into a binding memorandum of agreement regarding the proposed
acquisition. SMI is in the business of developing optical molecular imaging
devices for early detection of certain medical conditions. The memorandum of
agreement calls for the Company to acquire all of the outstanding shares of SMI
through the issuance of a combination of common stock and preferred stock of the
Company.  A copy of the memorandum of agreement was filed with the SEC
as an exhibit to the Company’s annual report on Form 10-K. Consummation of the
acquisition contemplated in the memorandum of agreement is subject to a number
of conditions, including the Company obtaining at least $1million in financing
through a private placement, negotiation and execution of definitive agreements,
and other conditions that are customary for transactions of this
type.  Prior to signing the memorandum of agreement, the Company
arranged with Crest Capital Corp., our principal shareholder holding 150 million
shares, to surrender for cancelation 142,110,816 shares of common
stock.  The definitive agreement is currently under amendment and
therefore we cannot at the time of this filing confirm the number of shares to
be surrendered for cancelation.
 
 On
December 8, 2009, the Company received the resignation of Mr. Dwayne Flett as
President and a director. On December 8, 2009, the Company appointed Mr. Erik
Lindsley, President and a director of the Company.
 
 On
December 11, 2009, the Company received notification from SMI of negotiations in
regard to a private placement of shares of the Company, whereby the Company
would offer up to $2 million in principal amount of notes (the “Notes”),
initially convertible into up to 4,000,000 shares of Series B Convertible
Preferred Stock (“Series B Preferred”) of the Company, with each share of Series
B Preferred being initially convertible into ten (10) shares of Common Stock of
the Company and the Board of Directors of the Company determined that it is in
the best interest of the Corporation and its shareholders for the Corporation to
conduct the Offering to raise the necessary financing to consummate the
Acquisition and therefore to offer and sell in a private placement up to $2
million in principal amount of Notes on the terms negotiated by SMI management.
As of the date of this report on Form 10-Q no subscriptions have yet been
accepted by the Company.
 
 The
Company has evaluated subsequent events from the balance sheet date through
January 4, 2009 and determined that there are no other items that require
disclosure.
  F-7
  ITEM
2.                               
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS
 
 FORWARD-LOOKING
STATEMENTS
 This
quarterly report contains forward-looking statements relating to future events
or our future financial performance.  In some cases, you can identify
forward-looking statements by terminology such as "may", "should", "intends",
"expects", "plans", "anticipates", "believes", "estimates", "predicts",
"potential", or "continue" or the negative of these terms or other comparable
terminology.  These statements are only predictions and involve known
and unknown risks, uncertainties and other factors which may cause our or our
industry's actual results, levels of activity or performance to be materially
different from any future results, levels of activity or performance expressed
or implied by these forward-looking statements.
 
 Such
factors include, among others, the following:  international, national
and local general economic and market
conditions:  demographic  changes; the ability of the
Company to sustain,  manage or  forecast  its
growth;  the ability of the Company to successfully make and integrate
acquisitions; raw material costs and availability;  new
product  development
and  introduction;  existing  government
regulations  and  changes  in,  or  the  failure  to  comply  with,   government
regulations;  adverse publicity; competition; the loss of significant
customers or
suppliers;  fluctuations  and  difficulty in
forecasting  operating  results; changes in business
strategy or development  plans; business  disruptions; the
ability  to
attract  and  retain  qualified  personnel;
the  ability to protect technology; and other factors referenced in
this and previous filings.
 
 Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity or
performance. Except as required by applicable laws, including the securities
laws of the United States, we do not intend to update any of the forward-looking
statements to conform these statements to actual results.
 
 Given
these uncertainties, readers of this Form 10-Q and investors are cautioned not
to place undue reliance on such forward-looking statements.  The
Company disclaims any obligation to update any such factors or to publicly
announce the result of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.
 
 All
dollar amounts stated herein are in US dollars unless otherwise
indicated.
 
 The management’s
discussion and analysis of our financial condition and results of operations are
based upon our financial statements, which have been prepared in accordance with
accounting principles generally accepted in the United States of America
("GAAP").  The following discussion of our financial condition and
results of operations should be read in conjunction with our audited financial
statements for the years ended August 31, 2009, and 2008, together with notes
thereto.  As used in this quarterly report, the terms "we", "us",
"our", and the "Company" mean Cascade Technologies Corp., unless the context
clearly requires otherwise.
 
 Business
Development
 
 Since
incorporation until early February 2009, our core business was the purchase and
sale of semi-conductors. The Company was unsuccessful in implementing its
business plan and therefore management determined to review other business
opportunities which would bring value to the Company.  In early
February 2009, the Company appointed a new directors and officers and with these
appointments it was determined to pursue business opportunities in the field of
renewable energy based power producing assets.
 
 The
Company then commenced collaboration discussions with Genalta Power Corp., a
Canadian renewable energy company, with a view to entering into an agreement
that it had anticipated would result in Cascade’s first commercial-scale
Renewable Energy power installation to a local electric utility under a 20-year
PPA.  The Company was not able to conclude any agreements with Genalta
Power Corp. and has determined that it will not pursue any opportunities in
Canada at this time and determined to focus on the U.S. for opportunities in
renewable energy.
 
 In early
November 2009, the Company was contacted in regard to a potential business
acquisition outside of the renewable energy sector.  The Company
reviewed the acquisition opportunity and entered into a confidential non-binding
memorandum of understanding, with Spectral Molecular Imaging, Inc. (“SMI”) in
regard to this business opportunity.
  4
  
 On
November 30, 2009, the Board of Directors approved the issuance of a dividend to
shareholders of record as at December 18, 2009, whereby shareholders will
receive 2.64 dividend shares for each one share currently held. The proposed
date for the dividend distribution was December 21, 2009. The dividend was
subject to the cancellation of the 142,110,816 shares of the Company. On
December 17, 2009, the Company’s Board of Directors entered into an amendment to
the memorandum of agreement whereby the Company established a new record date of
December 30, 2009 and a payment date of January 2, 2010 for the dividend
distribution.  As well, the amendment provided for the cancellation of
the 142,110,816 shares (plus any dividends paid on the shares) at the discretion
of the Board of Directors. The dividend will not be effected as of January 2,
2010 as the Company is currently reviewing amending documentation to the
potential acquisition described below which may impact on the number of shares
to be cancelled. Therefore the Board of Directors has determined not to finalize
the submission to the requisite regulatory authorities until such time as the
final agreements can be reached. The record date will remain as December 30,
2009 as at the time of this filing.
 
 Subsequent
to the end of the current quarter, on December 11, 2009, the Company and SMI
entered into a binding memorandum of agreement regarding the proposed
acquisition.  SMI is in the business of developing optical molecular
imaging devices for early detection of certain medical
conditions.  The memorandum of agreement calls for the Company to
acquire all of the outstanding shares of SMI through the issuance of a
combination of common stock and preferred stock of the
Company.  Consummation of the acquisition contemplated in the
memorandum of agreement is subject to a number of conditions, including the
Company obtaining at least $1million and up to $2million in financing through a
private placement, negotiation and execution of definitive agreements, and other
conditions that are customary for transactions of this type.  Prior to
signing the memorandum of agreement, the Company arranged with Crest Capital
Corp., our principal shareholder holding 150 million shares, to surrender for
cancelation 142,110,816 shares of common stock.  The definitive
agreement is currently under amendment and therefore we cannot at the time of
this filing confirm the number of shares to be surrendered for
cancelation.
 
 On
December 8, 2009, the Company received the resignation of Mr. Dwayne Flett as
President and a director. On December 8, 2009, the Company appointed Mr. Erik
Lindsley, President and a director of the Company.
 
 Current
Operations
 
 The
Company, has retained its U.S. subsidiary, Cascade Solar Corp. so that it may
review opportunities in the renewable energy sector in the U.S. The Company is
also pursuing the acquisition of SMI. Our disclosure in this report relates to
our operations in the sector of renewable energy as we have not yet concluded
any transaction regarding SMI, and it cannot be known at this time if an
acquisition will be concluded.
 
 Liquidity
& Capital Resources
 
 As of
November 30, 2009, our cash balance was $690, and we had no revenues as compared
to $715 for the fiscal year ended August 31, 2009 with no revenues. Our accounts
payable and accrued expenses increased from $15,193 at fiscal year ended August
31, 2009, to $21,351 at our three month quarter ended November 30, 2009. This
increase was primarily due to amounts incurred for professional and consulting
expenses due to increased business activities.  We do not have
sufficient funds to undertake any operations or to pay our expenses as they come
due.  We will therefore be required to raise capital to fund our
ongoing operations by way of equity or loans.  Further, should we
conclude the acquisition of SMI described above, we will be required to raise at
least $1million in financing through a private placement.   Under
the terms of the agreement with SMI, SMI will raise the required funds on behalf
of the Company.  Currently a private placement to raise the funds is
being conducted whereby the Company would offer up to $2 million in principal
amount of notes (the “Notes”), initially convertible into up to 4,000,000 shares
of Series B Convertible Preferred Stock (“Series B Preferred”) of the Company,
with each share of Series B Preferred being initially convertible into ten (10)
shares of Common Stock of the Company. As of the date of this report on Form
10-Q no subscriptions have yet been accepted by the Company and it is not known
whether the Company will be able to raise the required funds for the proposed
acquisition of SMI.
 
 Further,
there are no assurances that we will be able to obtain funds required for our
continued operations. There can be no assurance that additional financing will
be available to us when needed or, if available, that it can be obtained on
commercially reasonable terms. If we are not able to obtain the additional
financing on a timely basis, we will not be able to meet our other obligations
as they become due and we will be forced to scale down or perhaps even cease
operations.
  5
  There is
substantial doubt about our ability to continue as a going concern as we do not
have sufficient capital to continue operations without raising additional funds.
The issuance of additional equity securities by us could result in a significant
dilution in the equity interests of our current stockholders. Obtaining
commercial loans, assuming those loans would be available, will increase our
liabilities and future cash commitments.
 
 Results
of Operations
 
 For the
three month period ended November 30, 2009, operating expenses were $7,605 as
compared to $11,021 for the corresponding three month period ending November 30,
2008.  This decrease was due primarily to professional service fees,
which amounted to $7,165 at the three month period ended November 30, 2009 as
compared to $9,345 for the corresponding three month period ended November 30,
2008, and, the decrease in general and administrative expenses which amounted to
$356 at the three month period ended November 30, 2009 as compared to $1,676 for
the corresponding three month period ended November 30, 2008.  The
decrease in operating expenses was a result of a decrease in operations of the
Company while it undertook a review of potential activities.  Interest
expenses increased to $730 from $470 due to increased loans.
 
 During
the three month period ended November 30, 2009, the Company incurred a net loss
of $8,335, as compared to a net loss of $11,491 in the three month period ended
November 30, 2008.  This decrease in the amount of loss was due
primarily to a decrease in professional service fees and G&A expenses,
offset in part by a slight increase in interest expense on our short term
loan.
 
 Off-Balance
Sheet Arrangements
 
 We have
no off-balance sheet arrangements that have or are reasonably likely to have a
current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that are material to
stockholders.
 
 ITEM
3.                               
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
  The
Company is a smaller reporting company and is not required to provide this
information.
  ITEM
4T.                             CONTROLS
AND PROCEDURES
 
 Evaluation
of Disclosure Controls and Procedures
 
 Under the
supervision and with the participation of our management, including our
principal executive officer and principal financial officer, we conducted an
evaluation of our disclosure controls and procedures, as such term is defined
under Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as
amended (Exchange Act), as of November 30, 2009.  Based on this
evaluation, our principal executive officer and principal financial officer
concluded that our disclosure controls and procedures are effective in alerting
them on a timely basis to material information relating to our Company required
to be included in our reports filed or submitted under the Exchange
Act.
 
 Changes
in Internal Controls
 
 There
were no significant changes (including corrective actions with regard to
significant deficiencies or material weaknesses) in our internal controls over
financial reporting that occurred during the quarter ended November 30, 2009,
that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.
 
 PART
II – OTHER INFORMATION
  ITEM
1.                               
LEGAL PROCEEDINGS
 
 The
Company is not a party to any legal proceedings and is not aware of any pending
legal proceedings as of the date of this Form 10-Q.
  6
  ITEM
1A.                            
RISK FACTORS
 
 The
Company is a smaller reporting company and is not required to provide this
information.
 
 ITEM
2.                               
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
 
 There
were no unregistered sales of equity securities during the three month period
ending November 30, 2009.
 
 ITEM
3.                               
DEFAULTS UPON SENIOR SECURITIES
 
 The
Company does not have any senior securities as of the date of this Form
10-Q.
 
 ITEM
4.                               
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
 No
matters were submitted to the Company’s security holders for a vote during the
three month period ended November 30, 2009 covered by this report.
 
 ITEM
5.                               
OTHER INFORMATION
 
 Not
Applicable
 
 ITEM
6. EXHIBITS
 
 Number
              Description3.1
              Articles
      of Incorporation
              Incorporated
      by reference to the Exhibits filed with the Form SB-2 filed under SEC file
      number 333-1242843.1(i)
              Amended
      Articles of Incorporation
              Incorporated
      by reference to the Form 8-K filed with the SEC on July 28,
      20083.1(ii)
              Amended
      Articles of Incorporation
              Incorporated
      by reference to the Form 8-K filed with the SEC on January 2,
      20093.2
              Bylaws
              Incorporated
      by reference to the Exhibits filed with the Form SB-2 filed under SEC file
      number 333-1242843.2
      (i)
              Amended
      Bylaws
              Incorporated
      by reference to our Schedule 14C filed with the SEC on March 20,
      200710.1
              Memorandum
      of Understanding between Cascade Technologies Corp and Brisk Solar Inc.
      dated April 30, 2009
              Incorporated
      by reference to our Form 8-K filed with the SEC on May 5,
    200910.2
              Memorandum
      of Agreement between Cascade Technologies Corp. and Spectral Molecular
      Imaging, Inc.
              Incorporated
      by reference to our Form 10-K filed with the SEC on December 15,
      200910.3
              Amendment
      No. 1 to the Memorandum of Agreement between Cascade Technologies Corp.
      and Spectral Molecular Imaging Inc.
              Filed
      herewith31.1
              Section
      302 Certification - Principal Executive Officer
              Filed
      herewith31.2
              Section
      302 Certification - Principal Financial Officer
              Filed
      herewith32.1
              Certification
      Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of
      the Sarbanes-Oxley Act of 2002
              Filed
      herewith32.2
              Certification Pursuant to 18
      U.S.C.Section 1350 as adopted pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002
              Filed
      herewith
  7
 
 SIGNATURES
 
 Pursuant
to the requirements 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.
 
 
 CASCADE
      TECHNOLOGIES CORP.Date:
              January
      8, 2010
              By:
              /s/Erik
      LindsleyName:
              Erik
      LindsleyTitle:
              President/CEO,
      Principal Executive Officer
 
 Date:
              January
      8, 2010
              By:
              /s/Jacqueline
      DanforthName:
              Jacqueline
      DanforthTitle:
              Chief
      Financial Officer, Principal Financial
Officer
 
  8