| x | ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------|

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

| Nevada                                   | 71-1026782          |
|------------------------------------------|---------------------|
| (State or other jurisdiction of          | (I.R.S. Employer    |
| incorporation or organization)           | Identification No.) |
|                                     |                |
| 66 Piscataqua Road                       |                |
| Dover, NH                                | 03820               |
| (Address of principal executive offices) |  (Zip Code)    |

| Title of each class |   | Name of each exchange on which registered |
|---------------------|--------|-------------------------------------------|
|                |   |                                      |
| None                |   | None                                      |

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

----

| PART I                                                                                                                            |
|-----------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                              |   |
| ITEM 1 – BUSINESS                                                                                                           | 1 |
| ITEM 1B – UNRESOLVED STAFF COMMENTS                                                                                         | 11 |
| ITEM 2 - PROPERTIES                                                                                                               | 11 |
| ITEM 3 - LEGAL PROCEEDINGS                                                                                                        | 11 |
| ITEM 4 – (REMOVED AND RESERVED)                                                                                             | 11 |
|                                                                                                                              |   |
| PART II                                                                                                                           |
|                                                                                                                              |   |
| ITEM 5 – MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES | 12 |
| ITEM 6 – SELECTED FINANCIAL DATA                                                                                            | 14 |
| ITEM 7 – MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION                         | 14 |
| ITEM 7A – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                                        | 19 |
| ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                                                                        | 19 |
| ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE                               | 20 |
| ITEM 9A – CONTROLS AND PROCEDURES                                                                                           | 20 |
|                                                                                                                              |   |
| ITEM 9B – OTHER INFORMATION                                                                                                 | 22 |
|                                                                                                                              |   |
| PART III                                                                                                                          |
|                                                                                                                              |   |
| ITEM 10 – DIRECTORS,  EXECUTIVE OFFICERS AND CORPORATE GOVERNACE                                                  | 23 |
| ITEM 11 – EXECUTIVE COMPENSATION                                                                                            | 25 |
| ITEM 12 – SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS                    | 28 |
| ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE                                               | 28 |
| ITEM 14 – PRINCIPAL ACCOUNTING FEES AND SERVICES                                                                            | 29 |
|                                                                                                                              |   |
| PART IV                                                                                                                           |
|                                                                                                                              |   |
| ITEM 15 - EXHIBITS, FINANCIAL STATEMENT SCHEDULES                                                                                 | 30 |

----

----

----

|   | - | Allpyn Sane Rabbit:  This vinyl toy is a rabbit and is expected to be our top selling toy for the near future and is the toy we received the most orders for in fiscal year ended July 31, 2011, although none were shipped or paid for in fiscal year ended July 31, 2011.  We sell this toy both online and through retail stores and it was developed through our agreement with Jermaine Rogers. |
|--------|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | Julius the Monkey:  This toy is also a vinyl toy and is based on a license agreement Super Rad has with Paul Frank that allows us to develop vinyl toys based on Paul Frank’s Julius the Monkey character.  Currently, this toy is for sale both retail and online. |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | B-bot: This is a toy designed by well-known toy designer Tristan Easton and it features the ability to make many characters out of one toy.  There is an application that can be downloaded on Apple and Droid products.  Currently, we sell this product to wholesale accounts, retail stores and on-line. |
|--------|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

|   | ▪ | Mattel (MAT) has the largest market share for both action figures and dolls and is the world’s largest manufacturer of traditional toys, with a 2007 revenue of $5.97 billion. Mattel sells products under a host of well-known brand names such as Barbie,Matchbox,Fischer Price, and Hot Wheels. However, because Mattel focuses so much on traditional toys, its business faces pressure from the fast-growing video game industry, an industry it entered in 2006. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Hasbro (HAS) is the United States' second largest toy company, with a 2007, 2008, 2009 revenue of $3.84B, $4.022B and $4.068B respectively. Hasbro owns the largest market share in the board game industry as of 2007, producing popular board games such as Clue, Monopoly, and Scrabble. Its other products include the Transformers, Mr. Potato Head, Play Doh, Milton Bradley, and Parker Brothers brands, as well as licensing agreements with brands such as Star Wars and Marvel. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | JAKKS Pacific (JAKK) is the United States' third largest toy manufacturer, obtaining $857 million in 2007 revenue.  JAKKS Pacific produces traditional toys under licenses for brands such as Cabbage Patch Kids,Care Bears, and Hannah Montana, a particularly big earner for JAKKS in 2007. Furthermore, JAKKS Pacific produces video games under the World Wrestling Entertainment (WWE) name through a joint venture with THQ. |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Russ Berrie and Company (RUS) designs and distributes gift consumer products for the infant and juvenile demographic. Russ Berrie's products include infant bedding, bath toys, feeding items, baby comforting products, and stuffed animals, under brands such as Sassy, KidsLine, and CoCaLo, Inc.. In 2006, its revenue was $294.8 million, which increased by 11% to $331.2 million in 2007. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | RC2 (RCRC) has grown significantly during the new millennium through a host of important acquisitions, and has, as a result, become an influential company in the toy industry. It is perhaps best known for its products under licenses with the Thomas & Friends,Bob The Builder, and John Deere brands. In 2007, RC2's revenue was approximately $489 million. |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Action Products International (APII) designs, manufactures and distributes educational and non-violent toys, children's books, stationery, and souvenirs. Its products include names under brand names such as Space Voyagers, Play and Store, and Kidz Workshop. In 2007, Action Products' revenue was $6.1 million, down from the $7.4 million it made in 2006. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Corgi International (CRGI) is a manufacturer of die-cast model vehicles whose 2007 revenue was $35.5 million, a 53.5% decrease from the $76.4 million it obtained from 2006 revenue. In May of 2008, British toymaker Hornby acquired Corgi for 7.5 million pounds. |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | ▪ | Activision (ATVI) publishes and distributes video games, and produced three of 2007's top ten games: Call of Duty 4: Modern Warfare,Guitar Hero III: Legends of Rock, and Guitar Hero II. In December 2007, Activision acquired Blizzard, Vivendi's video game division. Blizzard is the developer behind the popular World of Warcraft game, thus letting Activision become a key player in both the console gaming and online gaming industries, as well as the largest video game company in the world (surpassing Electronic Arts). |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Ubisoft Entertainment SA is a French video game and software developer, and the name behind popular games such as the Rayman franchise, the Splinter Cell franchise, and Assassin's Creed, its best-selling title in fiscal 2007. Ubisoft's 2007 revenue was €608 million (approximately $868 million), a 24.35% increase from the year before. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Take-Two Interactive Software (TTWO) publishes games for the Nintendo Wii, Xbox 360, and Playstation 3 game consoles, as well as PC. Take-Two is perhaps best known as the name behind the highly popular Grand Theft Auto franchise. Its newest title, Grand Theft Auto 4, made approximately $500 million in sales in its first week of release in Q2 2008, making it one of the most successful video games of all time. However, Take-Two's revenue decreased by 5.4% in 2007, to approximately $982 million. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Leapfrog Enterprises (LF) produces technology-based educational products under the LeapFrog, LeapPad, Leapster, and Quantum Leap brands. Although Leapfrog had a somewhat weak 2007 fiscal year, its 2008 revenue figures to increase substantially following the launch of acclaimed products such as the Leapster 2 and Didj educational gaming systems. Its 2007 revenue was $442.3 million, compared to $502.3 million in 2006. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | Mad Catz Interactive (MCZ) manufactures and distributes accessories for the interactive entertainment industry. Their product lines include extension cables, television connectors, memory cards, and controllers for PC, game consoles, and portable gaming systems. In 2007, Mad Catz Interactive's revenue fell from $99.7 million in 2006 to $87.6 million. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | International Game Technology (IGT) manufactures electronic casino games, and, with a 70% share, commands the largest market share in the North American slot machine industry. The largest producer of electronic casino games in the United States, IGT obtained $2.62 billion in 2007 revenue. In addition to simple slot machines, IGT manufactures video poker games, electronic traditional casino games, and related network systems for operating casinos. |
|--------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | GameTech International (GMTC) is primarily a manufacturer and distributor of electronic bingo machines. In 2007, however, it also introduced its video lottery terminals (VLTs) segment, which consists of electronic games such as slot machines and video poker. The VLTs segment figures to let GameTech become a player in the Class III gaming market, where it had previously only been a player in the Class II gaming market. GameTech International's revenue in 2007 was $59 million. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ▪ | FortuNet (FNET) manufactures and distributes electronic video games and related servers. Its primary focus is on electronic bingo games, which it helped pioneer in the 1980s. Its BingoStar platform is its primary product, and the company obtains most of its business from casinos and bingo halls. FortuNet obtained $16.49 million in 2007 revenue, 34% of which came from Texas and 98% of which was domestic. |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | ▪ | Gaming Partners International (GPIC) manufacturers casino equipment such as gambling chips, dice, wheels, playing cards, table layouts, and furniture.[32] Because consumer preferences have been shifting away from traditional table games and towards electronic casino games such as slot machines and video poker, GPIC's business suffered in 2007. Its 2007 revenue fell to $58.8 million in 2007, from $74 million in 2006. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Industry         |   | 2007   |   |   | 2006   |   |   | 2005   |   |   | 2004 |   |
|------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|------|--------|
| Traditional Toys |   |   | 21.2   |   |   |   | 22.3   |   |   |   | 22.2 |   |   |   | 22.4 |   |
| Video Games      |   |   | 18.9   |   |   |   | 12.5   |   |   |   | 10.5 |   |   |   | 9.9 |   |

----

----

----

----

| Fiscal Year |   |           |   |       |   |
|-------------|--------|----------------|--------|------------|--------|
| Ended       |   |           |   | Bid Prices |   |
| July 31,    |   | Period         |   | High       |   |   | Low |   |
|        |   |           |   |       |   |   |   |   |
| 2010        |   | First Quarter  |   | $          | 0.30   |   |   | $ | 0.10 |   |
|        |   | Second Quarter |   | $          | 0.40   |   |   | $ | 0.30 |   |
|        |   | Third Quarter  |   | $          | 1.40   |   |   | $ | 0.05 |   |
|        |   | Fourth Quarter |   | $          | 0.09   |   |   | $ | 0.09 |   |
|        |   |           |   |       |   |   |   |   |   |   |
| 2011        |   | First Quarter  |   | $          | 0.10   |   |   | $ | 0.05 |   |
|        |   | Second Quarter |   | $          | 0.10   |   |   | $ | 0.02 |   |
|        |   | Third Quarter  |   | $          | 0.02   |   |   | $ | 0.01 |   |
|        |   | Fourth Quarter |   | $          | 0.07   |   |   | $ | 0.01 |   |
|        |   |           |   |       |   |   |   |   |   |   |
| 2012        |   | First Quarter  |   | $          | 0.01   |   |   | $ | 0.01 |   |

----

| Plan Category                                         |   | Number of Securities tobe issued upon exerciseof outstanding options,warrants and rights |   |   | Weighted-averageexercise price ofoutstanding options,warrants and rights |   |   | Number of securitiesremaining available forfuture issuance underequity compensationplans (excludingsecurities reflected incolumn (a)) |   |
|------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                       |   | (a)                                                                                                                                        |   |   | (b)                                                                                               |   |   | (c)                                                                                                                                                                                          |   |
| Equity compensation plans approved by security holders     |   |                                                                                                                                       | - 0 -  |   |                                                                                              |   | - 0 -  |                                                                                                                                                                                         |   |   | - 0 - |   |
| Equity compensation plans not approved by security holders |   |                                                                                                                                       | - 0 -  |   |                                                                                              |   | - 0 -  |                                                                                                                                                                                         |   |   | - 0 - |   |
|                                                       |   |                                                                                                                                       |   |   |                                                                                              |   |   |                                                                                                                                                                                         |   |   |   |   |
| Total                                                      |   |                                                                                                                                       | - 0 -  |   |                                                                                              |   | - 0 -  |                                                                                                                                                                                         |   |   | - 0 - |   |

----

----

----

|                                    |   | Year ended     |       |   | Year ended     |   |
|----------------------------------------------|--------|---------------------|------------|--------|---------------------|--------|
|                                         |   | July 31,  |       |   | July 31,  |   |
|                                         |   | 2011                |       |   | 2010                |   |
| Revenues                                     |   | $                   | -          |   |                | $      | - |   |
| Cost of Sales                                |   |                | -          |   |                |   | - |   |
| Selling, General and Administrative Expenses |   |                | 122,091    |   |                |   | 88,818 |   |
| Conversion Fee                               |   |                | 1,631,500  |   |                |   | - |   |
| Non-Cash Compensation                        |   |                | 3,737,414  |   |                |   | 6,989,267 |   |
| Impairment of Goodwill                       |   |                | 1,250,000  |   |                |   | - |   |
| Operating Income (loss)                      |   |                | (6,741,005 | )      |                |   | (7,079,071 | ) |
| Interest Expense                             |   |                | (9,912     | )      |                |   | (36,498 | ) |
| Amortization of Debt Discount                |   |                | -          |   |                |   | (168,403 | ) |
| Net Income (Loss)                            |   | $                   | (6,750,917 | )      |                | $      | (7,283,972 | ) |

----

|                                   |   | 2011   |     |   | 2010   |   |
|----------------------------------------|--------|--------|----------|--------|--------|--------|
| Provided by (used in):                 |   |   |     |   |   |   |
| Operating activities                   |   | $      | (235,158 | )      |   | $      | (92,525 | ) |
| Investing activities                   |   |   | -        |   |   |   | - |   |
| Financing activities                   |   |   | 244,596  |   |   |   | - |   |
| Net Cash Used in Continuing Operations |   | $      | 9,438    |   |   | $      | (92,525 | ) |

----

----

|             |   | 2012   |      |   | 2013   |   |   | 2014   |   |   | 2015   |   |   | 2016   |   |   | Total  |   |
|------------------|--------|--------|-----------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt obligations |   | $      | 1,714,400 |   |   | $      | 0      |   |   | $      | 0      |   |   | $      | 0      |   |   | $      | 0 |   |   | $ | 1,714,400 |   |
| Capital leases   |   |   | 0         |   |   |   | 0      |   |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |   |   | 0 |   |
| Operating leases |   |   | 0         |   |   |   | 0      |   |   |   | 0      |   |   |   | 0      |   |   |   | 0 |   |   |   | 0 |   |
|             |   | $      | 1,714,400 |   |   | $      | 0      |   |   | $      | 0      |   |   | $      | 0      |   |   | $      | 0 |   |   | $ | 1,714,400 |   |

| Reports of Registered Public Accounting Firms                                                    | F-2    |
|--------------------------------------------------------------------------------------------------|--------|
|                                                                                             |   |
| Consolidated Balance Sheets as of July 31, 2011 and 2010                                         | F-3    |
|                                                                                             |   |
| Consolidated Statements of Operations for the years ended July 31, 2011 and 2010                 | F-4    |
|                                                                                             |   |
| Consolidated Statements of Shareholders’ Equity for the years ended July 31, 2011 and 2010 | F-5    |
|                                                                                             |   |
| Consolidated Statements of Cash Flows for the years ended July 31, 2011 and 2010                 | F-6    |
|                                                                                             |   |
| Notes to Consolidated Financial Statements                                                       | F-7    |

----

|  | Peter MessineoCertified Public Accountant1982 Otter Way Palm Harbor FL 34685peter@pm-cpa.comT   727.421.6268   F   727.674.0511 |
|--|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                                         |   | July 31, 2011 |        |   | July 31, 2010 |   |
|------------------------------------------------------------------------------|--------|-------------------------|-------------|--------|--------------------|--------|
|                                                                         |   |                    |        |   |               |   |
| ASSETS                                                                       |   |                    |        |   |               |   |
| Current Assets                                                               |   |                    |        |   |               |   |
| Cash                                                                         |   | $                       | 9,438       |   |               |   |   |
| Deferred Financing Expense                                                   |   |                    | 108,500     |   |               |   |   |
|                                                                         |   |                    |        |   |               |   |   |
| Total Current Assets                                                         |   |                    | 117,938     |   |               |   | - |   |
|                                                                         |   |                    |        |   |               |   |   |   |
| Total Assets                                                                 |   | $                       | 117,938     |   |               | $      | - |   |
|                                                                         |   |                    |        |   |               |   |   |   |
| LIABILITIES AND STOCKHOLDERS EQUITY                                          |   |                    |        |   |               |   |   |   |
|                                                                         |   |                    |        |   |               |   |   |   |
| Current Liabilities                                                          |   |                    |        |   |               |   |   |   |
| Accounts Payable                                                             |   |                    | 5,085       |   |               |   | 6,348 |   |
| Accrued Interest                                                             |   |                    | 338,614     |   |               |   | 332,006 |   |
| Equity Obligations - current                                                 |   |                    | 1,249,500   |   |               |   | 1,249,500 |   |
| Current Portion of Notes Payable                                             |   |                    | 464,900     |   |               |   | 1,897,500 |   |
| Total Current Liabilities                                                    |   |                    | 2,058,099   |   |               |   | 3,485,354 |   |
|                                                                         |   |                    |        |   |               |   |   |   |
| Total Liabilities                                                            |   |                    | 2,058,099   |   |               |   | 3,485,354 |   |
|                                                                         |   |                    |        |   |               |   |   |   |
| Stockholders Deficit                                                         |   |                    |        |   |               |   |   |   |
| Preferred Stock .001 Par Value                                               |   |                    |        |   |               |   |   |   |
| 5,000,000 shares authorized, 2,500,000 (July 31, 2011) and 0 (July 31, 2011) |   |                    |        |   |               |   |   |   |
| issued and outstanding, Series A preferred                                   |   |                    | 2,500       |   |               |   | - |   |
| Common Stock .001 Par Value;                                                 |   |                    |        |   |               |   |   |   |
| 150,000,000 shares authorized;                                               |   |                    |        |   |               |   |   |   |
| 128,178,304 (July 31, 2011) and 22,810,262 (July 2010) shares                |   |                    |        |   |               |   |   |   |
| issued and outstanding                                                       |   |                    | 128,178     |   |               |   | 22,810 |   |
| Additional paid in capital                                                   |   |                    | 18,612,998  |   |               |   | 10,424,756 |   |
| Defitcit accumlated during the development stage                             |   |                    | (20,683,837 | )      |               |   | (13,932,920 | ) |
| Total Stockholders' Deficit                                                  |   |                    | (1,940,161  | )      |               |   | (3,485,354 | ) |
|                                                                         |   |                    |        |   |               |   |   |   |
| Total Liabilities and Stockholders' Equity                                   |   | $                       | 117,938     |   |               | $      | - |   |

----

|                                                                                                                                      |   | Year                    |        |   | Year                    |   |       | May 30, 2006   |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|-------------|--------|-------------------------|--------|------------|--------------------------|--------|
|                                                                                                                                      |   | Ended                   |        |   | Ended                   |   |       | (Inception) through |   |
|                                                                                                                                      |   | July 31, 2011 |        |   | July 31, 2010 |   |       | July 31, 2011  |   |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |
| Revenue                                                                                                                                   |   | $                       | -           |   |                    | $      | -          |                     |   | $ | - |   |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Expenses                                                                                                                                  |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| General Selling and Adminstrative                                                                                                         |   |                    | 122,091     |   |                    |   | 88,818     |                     |   |   | 1,688,728 |   |
| Depreciation                                                                                                                              |   |                    | -           |   |                    |   | -          |                     |   |   | 1,889 |   |
| Warrant Expense                                                                                                                           |   |                    | -           |   |                    |   |       |                     |   |   | 861,694 |   |
| Conversion Fee                                                                                                                            |   |                    | 1,631,500   |   |                    |   |       |                     |   |   | 1,631,500 |   |
| Bank Charges                                                                                                                              |   |                    | -           |   |                    |   | 986        |                     |   |   | 2,094 |   |
| Land Claim Fees                                                                                                                           |   |                    | -           |   |                    |   | -          |                     |   |   | 597,957 |   |
| Non Cash Compensation                                                                                                                     |   |                    | 3,737,414   |   |                    |   | 6,989,267  |                     |   |   | 11,546,737 |   |
| Amortization of Deferred Finance Charges                                                                                                  |   |                    | -           |   |                    |   | -          |                     |   |   | 141,861 |   |
| Impairment of Goodwill                                                                                                                    |   |                    | 1,250,000   |   |                    |   | -          |                     |   |   | 2,236,667 |   |
| Other Expenses                                                                                                                            |   |                    |        |   |                    |   |       |                     |   |   | 187 |   |
|                                                                                                                                      |   |                    | 6,741,005   |   |                    |   | 7,079,071  |                     |   |   | 18,709,314 |   |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Gain(Loss) on Operations                                                                                                                  |   |                    | (6,741,005  | )      |                    |   | (7,079,071 | )                        |   |   | (18,709,314 | ) |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Other Income (expense)                                                                                                                    |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Amortization of Debt Discount                                                                                                             |   |                    | -           |   |                    |   | (168,403   | )                        |   |   | (1,648,198 | ) |
| Interest Expense                                                                                                                          |   |                    | (9,912      | )      |                    |   | (36,498    | )                        |   |   | (341,918 | ) |
|                                                                                                                                      |   |                    | (9,912      | )      |                    |   | (204,901   | )                        |   |   | (1,990,116 | ) |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Net Income (Loss) before provision for income tax                                                                                         |   |                    | (6,750,917  | )      |                    |   | (7,283,972 | )                        |   |   | (20,699,430 | ) |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Provision for income tax                                                                                                                  |   |                    | -           |   |                    |   | -          |                     |   |   | - |   |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Net Income(Loss) from Continuing Operations                                                                                               |   |                    | (6,750,917  | )      |                    |   | (7,283,972 | )                        |   |   | (20,699,430 | ) |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Discontinued Operations: Gain (Loss) from discontinued operations (including gain on disposal in 2007 of $28,553)  - net of tax |   |                    | -           |   |                    |   | -          |                     |   |   | 15,593 |   |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Net Income (Loss)                                                                                                                         |   | $                       | (6,750,917  | )      |                    | $      | (7,283,972 | )                        |   | $ | (20,683,837 | ) |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Net Income(Loss) per share                                                                                                                |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Basic and Fully Diluted, From:                                                                                                            |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Continuing operations                                                                                                                     |   | $                       | (0.07       | )      |                    | $      | (0.82      | )                        |   |   |   |   |
| Discontinuted operations                                                                                                                  |   |                    | -           |   |                    |   | -          |                     |   |   |   |   |
| Combined                                                                                                                                  |   | $                       | (0.07       | )      |                    | $      | (0.82      | )                        |   |   |   |   |
|                                                                                                                                      |   |                    |        |   |                    |   |       |                     |   |   |   |   |
| Weighted Average Number of Common Shares                                                                                                  |   |                    | 100,910,281 |   |                    |   | 8,877,362  |                     |   |   |   |   |

----

|                                                                                                                      |   | Year                    |       |   | Year                    |   |       | May 30, 2006  |   |
|---------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|------------|--------|-------------------------|--------|------------|-------------------------|--------|
|                                                                                                                      |   | Ended                   |       |   | Ended                   |   |       | Inception through  |   |
|                                                                                                                      |   | July 31, 2011 |       |   | July 31, 2010 |   |       | July 31, 2011 |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |
| Cash flow from operating Activity:                                                                                        |   |                    |       |   |                    |   |       |                    |   |
| Operating activity from continuing operations                                                                             |   |                    |       |   |                    |   |       |                    |   |
| Net Loss                                                                                                                  |   | $                       | (6,750,917 | )      |                    | $      | (7,283,972 | )                       |   | $ | (20,683,837 | ) |
| Less: (Income) loss from discontinued Operations                                                                          |   |                    | -          |   |                    |   | -          |                    |   |   | (15,657 | ) |
| Net loss from continuing operations                                                                                       |   |                    | (6,750,917 | )      |                    |   | (7,283,972 | )                       |   |   | (20,699,494 | ) |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Adustments:                                                                                                               |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Stock issued for services                                                                                                 |   |                    | 3,737,414  |   |                    |   | 6,989,267  |                    |   |   | 12,789,296 |   |
| Impairment of goodwill                                                                                                    |   |                    | 1,250,000  |   |                    |   | -          |                    |   |   | 1,998,131 |   |
| Conversion Fee                                                                                                            |   |                    | 1,631,500  |   |                    |   |       |                    |   |   | 1,703,665 |   |
| Amortization - debt discount                                                                                              |   |                    |       |   |                    |   | 168,403    |                    |   |   | 168,403 |   |
| Depreciation                                                                                                              |   |                    |       |   |                    |   | -          |                    |   |   | 1,062 |   |
| Deferred Financing Fees                                                                                                   |   |                    |       |   |                    |   | -          |                    |   |   |   |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Changes in assets & liabilities from continuing operations                                                            |   |                    |       |   |                    |   |       |                    |   |   |   |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Deposits                                                                                                                  |   |                    | -          |   |                    |   |       |                    |   |   |   |   |
| Prepaids                                                                                                                  |   |                    | (108,500   | )      |                    |   | -          |                    |   |   |   |   |
| Accounts Payable                                                                                                          |   |                    | (1,263     | )      |                    |   | (3,984     | )                       |   |   | (3,984 | ) |
| Accrued Expenses                                                                                                          |   |                    | 6,608      |   |                    |   | 36,498     |                    |   |   | 335,310 |   |
| Other                                                                                                                     |   |                    |       |   |                    |   | 1,263      |                    |   |   |   |   |
| Due Related Parties                                                                                                       |   |                    |       |   |                    |   | -          |                    |   |   | - |   |
| Cash flow from operating activities by continuing operations                                                              |   |                    | (235,158   | )      |                    |   | (92,525    | )                       |   |   | (3,707,611 | ) |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Cash Flow from investing activities                                                                                       |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Purchase of fixed assets                                                                                                  |   |                    | -          |   |                    |   |       |                    |   |   | (2,259 | ) |
| Net cash provided by (used for)  from investing activities                                                      |   |                    | -          |   |                    |   | -          |                    |   |   | (2,259 | ) |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Cash Flow from Financing activities                                                                                       |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Notes payable - borrowings                                                                                                |   |                    | 207,596    |   |                    |   | -          |                    |   |   | 2,025,500 |   |
| Notes payable - payments                                                                                                  |   |                    |       |   |                    |   | -          |                    |   |   | (8,847 | ) |
| Issuance of stock                                                                                                         |   |                    | 37,000     |   |                    |   | -          |                    |   |   | 918,692 |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Net cash provided by (used for)  from financing activities                                                      |   |                    | 244,596    |   |                    |   | -          |                    |   |   | 2,935,345 |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Net cash used in continuing operations                                                                                    |   |                    | 9,438      |   |                    |   | (92,525    | )                       |   |   | (774,525 | ) |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Cash Flow from discontinued operations                                                                                    |   |                    | -          |   |                    |   | -          |                    |   |   | - |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Net change in cash                                                                                                        |   |                    | 9,438      |   |                    |   | (92,525    | )                       |   |   | - |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Beginning cash                                                                                                            |   |                    | -          |   |                    |   | 92,525     |                    |   |   |   |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Ending cash                                                                                                               |   | $                       | 9,438      |   |                    | $      | -          |                    |   | $ | - |   |
|                                                                                                                      |   |                    | -          |   |                    |   |       |                    |   |   |   |   |
| Schedule of Non-Cash Investing and Financing Activities                                                                   |   |                    |       |   |                    |   |       |                    |   |   |   |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Supplemental Disclosures                                                                                                  |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Cash Paid For:                                                                                                            |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Interest                                                                                                                  |   | $                       | 3,304      |   |                    | $      | -          |                    |   |   |   |   |
| Income Taxes                                                                                                              |   | $                       | -          |   |                    | $      | -          |                    |   |   |   |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| During the year ended July 31, 2011, the Company issued 2,500,000 preferred shares for debt                               |   | $                       | 1,612,062  |   |                    |   |       |                    |   |   |   |   |
|                                                                                                                      |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| During the year ended July 31, 2011, the Company issued 25,000,000 shares of common stock for acquired assets as follows: |   |                    |       |   |                    |   |       |                    |   |   |   |   |
| Assets acquired                                                                                                           |   | $                       | 1,278,131  |   |                    |   |       |                    |   |   |   |   |
| Impairment of goodwill                                                                                                    |   |                    | (1,250,000 | )      |                    |   |       |                    |   |   |   |   |
| Expenses of acquisition                                                                                                   |   |                    | (28,131    | )      |                    |   |       |                    |   |   |   |   |
| Assets reported July 31, 2011                                                                                             |   | $                       | -          |   |                    |   |       |                    |   |   |   |   |

----

|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   | Deficit     |    |       |          |   |   |        |   |
|----------------------------------------------------------|--------|----------------------|-----------|--------|-------------------|--------|--------|-----------------|--------|-----------|-----------------|--------|--------|--------------|---------|--------|-------------|---------|------------|---------------|--------|--------|-------------|--------|
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   | Accum.      |    |       | Accum.        |   |   |        |   |
|                                                     |   | Preferred Stock |      |   | Common Stock |   |   |            |   |      | During the |   |   | Other        |    |   | Stock-      |    |
|                                                     |   |                 |      |   | Amount            |   |   |            |   |      | Amount          |   |   | Paid In |    |   | Development |    |       | Compre.       |   |   | holders'    |   |
|                                                     |   | Shares               |      |   | ($.001Par)        |   |   | Shares (1) |   |      | ($.001Par)      |   |   | Capital      |    |   | Stage       |    |       | Income/(Loss) |   |   | Equity      |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |
| Balance at May 30, 2006                                  |   |                 | -         |   |              | $      | -      |            |   |      | -               |   |   | $            | -       |   |        | $       | -          |          |   | $      | -           |   |   | $ | - |   |   | $ | - |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Issuance of stock for cash                               |   |                 |      |   |              |   |   |            |   |      | 250,000         |   |   |         | 250     |   |        |    | 4,750      |          |   |   |        |   |   |   |   |   |   |   | 5,000 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Foreign currency Gain(Loss)                              |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   | (64 | ) |   |   | (64 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Net Gain (Loss) for period ending July 31st, 2006        |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   | (9,881      | )      |   |   |   |   |   |   | (9,881 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2006                                 |   |                 | -         |   |              | $      | -      |            |   |      | 250,000         |   |   | $            | 250     |   |        | $       | 4,750      |          |   | $      | (9,881      | )      |   | $ | (64 | ) |   | $ | (4,945 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Issuance of stock for cash                               |   |                 |      |   |              |   |   |            |   |      | 100,400         |   |   |         | 100     |   |        |    | 50,100     |          |   |   |        |   |   |   |   |   |   |   | 50,200 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Issuance of shares for                                   |   |                 |      |   |              |   |   |            |   |      | 133,333         |   |   |         | 133     |   |        |    | 266,534    |          |   |   |        |   |   |   |   |   |   |   | 266,667 |   |
|   acquisition                                  |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Discontinued Operations                                  |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   | 64 |   |   |   | 64 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Net loss for the year                                    |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   | (310,032    | )      |   |   |   |   |   |   | (310,032 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
|  Balance at July 31, 2007                           |   |                 | -         |   |              | $      | -      |            |   |      | 483,733         |   |   | $            | 483     |   |        | $       | 321,384    |          |   | $      | (319,913    | )      |   | $ | - |   |   | $ | 1,954 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Share Cancellation                                       |   |                 |      |   |              |   |   |            |   |      | (250,000        | )      |   |         | (250    | )      |        |    | 250        |          |   |   |        |   |   |   |   |   |   |   | - |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares Issued for cash, net of offering costs of $64,315 |   |                 |      |   |              |   |   |            |   |      | 3,047           |   |   |         | 3       |   |        |    | 255,582    |          |   |   |        |   |   |   |   |   |   |   | 255,585 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares Issued for Services                               |   |                 |      |   |              |   |   |            |   |      | 9,500           |   |   |         | 10      |   |        |    | 854,990    |          |   |   |        |   |   |   |   |   |   |   | 855,000 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Conversion of Debt                                       |   |                 |      |   |              |   |   |            |   |      | 3,563           |   |   |         | 4       |   |        |    | 386,649    |          |   |   |        |   |   |   |   |   |   |   | 386,653 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares Issued for Land Claims                            |   |                 |      |   |              |   |   |            |   |      | 284             |   |   |         |    |   |        |    | 42,500     |          |   |   |        |   |   |   |   |   |   |   | 42,500 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Issuance of Warrants                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    | 861,694    |          |   |   |        |   |   |   |   |   |   |   | 861,694 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Net loss for the year                                    |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   | (3,980,287  | )      |   |   |   |   |   |   | (3,980,287 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
|  Balance at July 31, 2008                           |   |                 | -         |   |              | $      | -      |            |   |      | 250,127         |   |   | $            | 250     |   |        | $       | 2,723,049  |          |   | $      | (4,300,200  | )      |   | $ | - |   |   | $ | (1,576,901 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares Issued for services                               |   |                 |      |   |              |   |   |            |   |      | 10,000          |   |   |         | 10      |   |        |    | 14,990     |          |   |   |        |   |   |   |   |   |   |   | 15,000 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Fractional Shares - Reverse Stock Split                  |   |                 |      |   |              |   |   |            |   |      | 135             |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Net loss for the year                                    |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   | (2,348,748  | )      |   |   |   |   |   |   | (2,348,748 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2009                                 |   |                 | -         |   |              | $      | -      |            |   |      | 260,262         |   |   | $            | 260     |   |        | $       | 2,738,039  |          |   | $      | (6,648,948  | )      |   | $ | - |   |   | $ | (3,910,649 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares Issued for services                               |   |                 |      |   |              |   |   |            |   |      | 14,550,000      |   |   |         | 14,550  |   |        |    | 6,974,717  |          |   |   |        |   |   |   |   |   |   |   | 6,989,267 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares issued for stock subscription payable             |   |                 |      |   |              |   |   |            |   | 8,000,000 |            |   |   | 8,000        |    |   |        | 712,000 |       |          |   |   |        |   |   |   |   |   |   | 720,000 |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Net loss for the year                                    |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   | (7,283,972  | )      |   |   |   |   |   |   | (7,283,972 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Balance at July, 31 2010                                 |   |                 | -         |   |              | $      | -      |            |   |      | 22,810,262      |   |   | $            | 22,810  |   |        | $       | 10,424,756 |          |   | $      | (13,932,920 | )      |   | $ | - |   |   | $ | (3,485,354 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Shares issued for services                               |   |                 |      |   |              |   |   |            |   |      | 104,051,375     |   |   |         | 104,051 |   |        |    | 5,264,863  |          |   |   |        |   |   |   |   |   |   |   | 5,368,914 |   |
| Shares issued for assets                                 |   |                 |      |   |              |   |   |            |   |      | 25,000,000      |   |   |         | 25,000  |   |        |    | 1,253,131  |          |   |   |        |   |   |   |   |   |   |   | 1,278,131 |   |
| Shares issued for Subscriptions                          |   |                 |      |   |              |   |   |            |   |      | 316,667         |   |   |         | 317     |   |        |    | 36,683     |          |   |   |        |   |   |   |   |   |   |   | 37,000 |   |
| Preferred Stock                                          |   |                 | 2,500,000 |   |              |   | 2,500  |            |   |      | -               |   |   |         | -       |   |        |    | 1,609,565  |          |   |   |        |   |   |   |   |   |   |   | 1,612,065 |   |
| Shares Cancelled                                         |   |                 |      |   |              |   |   |            |   |      | (24,000,000     | )      |   |         | (24,000 | )      |        |    | 24,000     |          |   |   |        |   |   |   |   |   |   |   | - |   |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   | - |   |
| Net Loss For Year                                        |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   | (6,750,917  | )      |   |   |   |   |   |   | (6,750,917 | ) |
|                                                     |   |                 |      |   |              |   |   |            |   |      |            |   |   |         |    |   |        |    |       |          |   |   |        |   |   |   |   |   |   |   |   |   |
| Balance at 7/31 2011                                     |   |                 | 2,500,000 |   |              | $      | 2,500  |            |   |      | 128,178,304     |   |   | $            | 128,178 |   |        | $       | 18,612,998 |          |   | $      | (20,683,837 | )      |   | $ | - |   |   | $ | (1,940,161 | ) |

----

----

----

----

----

----

----

----

| • | Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect our transactions and any disposition of our assets;                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and |

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

----

----

| Name                |   | Age    |   | Position(s)                                                                                                         |
|---------------------|--------|--------|--------|---------------------------------------------------------------------------------------------------------------------|
|                |   |   |   |                                                                                                                |
| Christopher LeClerc |   | 38     |   | Sole Director (12/07), President and Chief Executive Officer (03/09), Chief Financial Officer and Treasurer (06/07) |
|                |   |   |   |                                                                                                                |
| Brian Lehman        |   | 42     |   | Secretary (7/10)                                                                                                    |

----

| Name                  |   | No. of LateReports |   |   | No. ofTransactionsReported Late |   |   | No. ofFailures toFile |   |
|-----------------------|--------|------------------------------|--------|--------|-------------------------------------------|--------|--------|---------------------------------|--------|
| Christopher LeClerc   |   |                         | 0      |   |                                      |   | 0      |                            |   |   | 2 |   |
| Super Rad Corporation |   |                         | 0      |   |                                      |   | 0      |                            |   |   | 2 |   |
| Brian Lehman          |   |                         | 0      |   |                                      |   | 0      |                            |   |   | 0 |   |

----

| Name and PrincipalPosition |   | Year   |   | Salary($) |   |   | Bonus($) |   |   | StockAwards($) * |   |   | OptionAwards($) * |   |   | Non-EquityIncentive PlanCompensation($) |   |   | NonqualifiedDeferredCompensation($) |   |   | All OtherCompensation($) |   |   | Total($) |   |
|--------------------------------------|--------|--------|--------|-----------|--------|--------|----------|--------|--------|-----------------------|--------|--------|------------------------|--------|--------|----------------------------------------------|--------|--------|-------------------------------------|--------|--------|-------------------------------|--------|--------|----------|--------|
|                                 |   |   |   |      |   |   |     |   |   |                  |   |   |                   |   |   |                                         |   |   |                                |   |   |                          |   |   |     |   |
| Christopher LeClerc (1)              |   | 2011   |   |      | 0      |   |     |   | 0      |                  |   |   | 0                      |   |   |                                         | 0      |   |                                |   | 0      |                          |   |   | 0        |   |   |   | 0 |   |   |   | 0 |   |
| CEO, CFO                             |   | 2010   |   |      | 0      |   |     |   | 0      |                  |   |   | 0                      |   |   |                                         | 0      |   |                                |   | 0      |                          |   |   | 0        |   |   |   | 0 |   |   |   | 0 |   |
| Treasurer                            |   |   |   |      |   |   |     |   |   |                  |   |   |                   |   |   |                                         |   |   |                                |   |   |                          |   |   |     |   |   |   |   |   |   |   |   |   |
|                                 |   | 2009   |   |      | 0      |   |     |   | 0      |                  |   |   | 450,000                |   |   |                                         | 0      |   |                                |   | 0      |                          |   |   | 0        |   |   |   | 0 |   |   |   | 450,000 |   |
|                                 |   |   |   |      |   |   |     |   |   |                  |   |   |                   |   |   |                                         |   |   |                                |   |   |                          |   |   |     |   |   |   |   |   |   |   |   |   |
| Brian Lehman (2)                     |   | 2011   |   |      | 0      |   |     |   | 0      |                  |   |   | 0                      |   |   |                                         | 0      |   |                                |   | 0      |                          |   |   | 0        |   |   |   | 0 |   |   |   | 0 |   |
| Secretary                            |   | 2010   |   |      | 0      |   |     |   | 0      |                  |   |   | 0                      |   |   |                                         | 0      |   |                                |   | 0      |                          |   |   | 0        |   |   |   | 0 |   |   |   | 0 |   |
|                                 |   |   |   |      |   |   |     |   |   |                  |   |   |                   |   |   |                                         |   |   |                                |   |   |                          |   |   |     |   |   |   |   |   |   |   |   |   |
| Cady Johnson                         |   | 2011   |   |      | N/A    |   |     |   | N/A    |                  |   |   | N/A                    |   |   |                                         | N/A    |   |                                |   | N/A    |                          |   |   | N/A      |   |   |   | N/A |   |   |   | N/A |   |
| (3)                             |   | 2010   |   |      | N/A    |   |     |   | N/A    |                  |   |   | N/A                    |   |   |                                         | N/A    |   |                                |   | N/A    |                          |   |   | N/A      |   |   |   | N/A |   |   |   | N/A |   |
| Former President and CFO             |   | 2009   |   |      | 45,000 |   |     |   | 0      |                  |   |   | 300,000                |   |   |                                         | 0      |   |                                |   | 0      |                          |   |   | 0        |   |   |   | 0 |   |   |   | 345,000 |   |

|   | * | Based upon the aggregate grant date fair value calculated in accordance with the Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standard (“FAS”) No. 123R, Share Based Payment.  Our policy and assumptions made in valuation of share based payments are contained in the Notes to our July 31, 2011 financial statements. |
|--------|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | Christopher LeClerc has been a director since December 2007 and our Chief Financial Officer and Treasurer since June 2007. He was appointed President and Chief Executive Officer on March 20, 2009. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Brian Lehman was appointed our Secretary on July 22, 2010. |
|--------|-----|------------------------------------------------------------|

|   | (3) | Cady Johnson was our President and Chief Financial Officer from June 2007 until March 19, 2009.. |
|--------|-----|--------------------------------------------------------------------------------------------------|

----

| Name                    |   | Fees Earnedor Paid inCash($) |   |   | Stock Awards($) * |   |   | Option Awards($) * |   |   | Non-EquityIncentive PlanCompensation($) |   |   | NonqualifiedDeferredCompensationEarnings($) |   |   | All OtherCompensation($) |   |   | Total($) |   |
|-------------------------|--------|---------------------------------------------|--------|--------|-----------------------------|--------|--------|------------------------------|--------|--------|----------------------------------------------|--------|--------|---------------------------------------------|--------|--------|-------------------------------|--------|--------|----------|--------|
|                    |   |                                        |   |   |                        |   |   |                         |   |   |                                         |   |   |                                        |   |   |                          |   |   |     |   |
| Christopher LeClerc (1) |   |                                        | -0-    |   |                        |   | -0-    |                         |   |   | -0-                                          |   |   |                                        | -0-    |   |                          |   | -0-    |     |   |   | -0- |   |   |   | -0- |   |

|   | * | Based upon the aggregate grant date fair value calculated in accordance with the Financial Accounting Standards Board (“FASB”) Statement of Financial Accounting Standard (“FAS”) No. 123R, Share Based Payment. Our policy and assumptions made in valuation of share based payments are contained in the notes to our financial statements. The monies shown in the “option awards” column is the total calculated value for each individual. |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | Christopher LeClerc was appointed to our Board of Directors in December 2007. |
|--------|-----|-------------------------------------------------------------------------------|

----

|           |   | Option Awards                                                       |   |   | Stock Awards                                                    |   |
|---------------------|--------|--------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------|--------|
| Name                |   | Number of SecuritiesUnderlyingUnexercisedOptions(#)Exercisable |   |   | Number ofSecuritiesUnderlyingUnexercisedOptions(#)Unexercisable |   |   | EquityIncentivePlanAwards:Number ofSecuritiesUnderlyingUnexercisedUnearnedOptions(#) |   |   | OptionExercisePrice($) |   |   | OptionExpirationDate |   |   | Number ofShares orUnits ofStock ThatHave NotVested(#) |   |   | MarketValue ofShares orUnits ofStock ThatHave NotVested($) |   |   | EquityIncentivePlanAwards:Number ofUnearnedShares,Units orOtherRightsThat HaveNot Vested(#) |   |   | EquityIncentivePlanAwards:Market orPayoutValue ofUnearnedShares,Units orOtherRightsThat HaveNot Vested($) |   |
|                |   |                                                                     |   |   |                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Christopher LeClerc |   |                                                                     | -      |   |                                                                 |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                |   |                                                                     |   |   |                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Brian Lehman        |   |                                                                     | -      |   |                                                                 |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |

----

| Title of Class |   | Name and Addressof Beneficial Owner (3)     |   | Amount and Nature ofBeneficial Ownership |       |   | Percentof Class (1) |   |
|--------------------------|--------|----------------------------------------------------------------------|--------|--------------------------------------------------------------|------------|--------|-------------------------------|--------|
|                     |   |                                                                 |   |                                                         |       |   |                          |   |
| Common Stock             |   | Christopher LeClerc (2)                                              |   |                                                         | 5,000      |   |                          | <1  | %  |
|                     |   |                                                                 |   |                                                         |       |   |                          |   |   |
| Common Stock             |   | Brian Lehman (2)                                                     |   |                                                         | -0-        |   |                          |   | 0 | % |
|                     |   |                                                                 |   |                                                         |       |   |                          |   |   |   |
| Common Stock             |   | Super Rad Corporation (4)269 S. Beverly DriveBeverly Hills, CA 90212 |   |                                                         | 25,000,000 |   |                          |   | 16.67 | % |
|                     |   |                                                                 |   |                                                         |       |   |                          |   |   |   |
| Common Stock             |   | All Directors and OfficersAs a Group (2 persons)                     |   |                                                         | 5,000      |   |                          | <1  | %  |

|   | (1) | Unless otherwise indicated, based on 149,974,002 shares of common stock issued and outstanding. Shares of common stock subject to options or warrants currently exercisable, or exercisable within 60 days, are deemed outstanding for purposes of computing the percentage of the person holding such options or warrants, but are not deemed outstanding for the purposes of computing the percentage of any other person. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Indicates one of our officers or directors. |
|--------|-----|---------------------------------------------|

|   | (3) | Unless indicated otherwise, the address of the shareholder is FBC Holding, Inc., 66 Piscataqua Road, Dover, NH 03820. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (4) | Super Rad Corporation is beneficially owned by Simone Richlin. |
|--------|-----|----------------------------------------------------------------|

----

----

|   | (a)(1) | Financial Statements |
|--------|--------|----------------------|

| Report of Registered Public Accounting Firm                                                                 | F-2    |
|-------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                        |   |
| Consolidated Balance Sheet as of July 31, 2011 and 2010                                                     | F-3    |
|                                                                                                        |   |
| Consolidated Statements of Operations for the years  ended July 31, 2011 and 2010                 | F-4    |
|                                                                                                        |   |
| Consolidated Statements of Shareholders’  Equity for the years ended July 31, 2011 and 2010 | F-5    |
|                                                                                                        |   |
| Consolidated Statements of Cash Flows for the years ended July 31, 2011 and 2010                            | F-6    |
|                                                                                                        |   |
| Notes to Consolidated Financial Statements                                                                  | F-7    |

|   | (a)(2) | Financial Statement Schedules |
|--------|--------|-------------------------------|

|   | (a)(3) | Exhibits |
|--------|--------|----------|

|   | (b) | Exhibits |
|--------|-----|----------|

| ExhibitNumber |   | ExhibitDescription                                                                                                               |
|---------------|--------|----------------------------------------------------------------------------------------------------------------------------------|
| 2.1           |   | Agreement and Plan of Reorganization between Wave Uranium and the Registrant.(2)                                                 |
| 2.2           |   | Agreement of Sale between the Registrant and Alexandre Routkovski (2)                                                            |
| 3.1           |   | Articles of Incorporation (1)                                                                                                    |
| 3.2           |   | Bylaws (1)                                                                                                                       |
| 3.3           |   | Certificate of Amendment to Articles of Incorporation changing name to Wave Uranium Holding (2)                                  |
| 3.4           |   | Certificate of Amendment to Articles of Incorporation increasing authorized stock (4)                                       |
| 10.1          |   | Software Development and Consulting Agreement (1)                                                                                |
| 10.2          |   | Employment Agreement with Dr. Johnson (2)                                                                                        |
| 10.3          |   | Employment Agreement with Mr. LeClerc(2)                                                                                         |
| 10.4          |   | Wilson Creek Agreement (3)                                                                                                       |
| 10.5          |   | Form of Debenture related to March 2008 financing (5)                                                                            |
| 10.6          |   | Form of Warrant related to March 2008 financing (5)                                                                              |
| 10.7          |   | Securities Purchase Agreement, dated March 20, 2008 by and between Wave Uranium Holding and the Purchasers signatory thereto (5) |
| 10.8          |   | Registration Right Agreement, dated March 20, 2008 by and between Wave Uranium Holding and the Purchasers signatory thereto (5)  |
| 10.9          |   | Security Agreement, dated March 20, 2008 by and between Wave Uranium Holding and the Purchasers signatory thereto (5)            |

----

| 10.10 |   | Pledge and Security Agreement, dated March 20, 2008 by and between Wave Uranium Holding and the Purchasers signatory thereto (5)                                                                                         |
|-------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.11 |   | Subsidiary Guarantee, dated March 20, 2008 of Wave Uranium (5)                                                                                                                                                           |
| 10.12 |   | Form of Lock-Up Agreement (5)                                                                                                                                                                                            |
| 10.13 |   | Asset Purchase Agreement with Super Rad Corporation dated August 11, 2010 (6)                                                                                                                                            |
| 10.14 |   | Securities Exchange Agreement dated March 31, 2011 (7)                                                                                                                                                                   |
| 10.15 |   | Second Addendum to Amended Stock Transfer Agreement by and among FBC Holdings, Inc. and Super Rad Corporation dated July 6, 2011 (8)                                                                                     |
| 31.1  |   | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14 of the Securities Exchange Act of 1934 as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2003 |
| 32.1  |   | Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2003                                         |

| (1) | Filed with the Registration Statement on Form SB-2 on September 27, 2006, file number 333-137,613 and incorporated by reference to this Annual Report.           |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Filed with the Current Report on Form 8-K dated June 18, 2007 and incorporated by reference to this Annual Report.                                               |
| (3) | Filed with the Current Report on Form 8-K dated October 9, 2007 and incorporated by reference to this Annual Report.                                             |
| (4) | Filed with our Annual Report on Form 10-K for the fiscal year ended July 31, 2007, filed November 13, 2007, and incorporated by reference to this Annual Report. |
| (5) | Filed with Current Report on Form 8-K dated March 20, 2008 and incorporated by reference to this Annual Report.                                                  |
| (6) | Filed with Current Report on Form 8-K/A dated August 11, 2010 and incorporated by reference to this Annual Report.                                               |
| (7) | Filed with Current Report on Form 8-K dated March 31, 2011 and incorporated by reference to the Annual Report.                                                   |
| (8) | Filed with Current Report on Form 8-K dated July 12, 2011 and incorporated by reference to this Annual Report.                                                   |

----

|                     | FBC Holding, Inc. |
|--------------------------|-------------------|
|                     |              |   |
| Dated: November 21, 2011 |              | /s/ Christopher LeClerc |
|                     | By:               | Christopher LeClerc |
|                     |              | President, Chief Executive Officer, Chief Financial Officer |
|                     |              | and Sole Director |
|                     |              |   |
| Dated: November 21, 2011 |              | /s/ Brian Lehman |
|                     | By:               | Brian Lehman |
|                     |              | Secretary |

| Dated: November 21, 2011 |   | /s/ Christopher LeClerc                                     |
|--------------------------|--------|-------------------------------------------------------------|
|                     | By:    | Christopher LeClerc                                         |
|                     |   | President, Chief Executive Officer, Chief Financial Officer |
|                     |   | and Sole Director                                           |
|                     |   |                                                        |
| Dated: November 21, 2011 |   | /s/ Brian Lehman                                            |
|                     | By:    | Brian Lehman                                                |
|                     |   | Secretary                                                   |

----