UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-K  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the fiscal year ended May 31, 2009  Commission file number:333-151909  PASHMINADEPOT.COM, INC. (Exact name of registrant as specified in its charter)  Florida
        26-1703723(State of incorporation)
        (I.R.S. Employer Identification No.)
  9694 Royal Palm Blvd., Coral Springs, Fl 33065 (Address of principal executive offices)  (954) 856-5718 (Registrants telephone number, including area code)  Securities registered pursuant to Section 12(b) of the Exchange Act: None  Securities registered pursuant to Section 12(g) of the Exchange Act: Common Stock, $0.0001 par value  Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  YesoNox  Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  YesoNox  Check whether the issuer (1) filed all reports
required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 YesxNoo  Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.o  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act. (Check one):  Large accelerated filero
        Accelerated fileroNon-accelerated filero
        Smaller reporting companyx(Do not check if a smaller reporting company)
    Indicate by check mark whether the registrant is a
shell company (as defined in Rule 12b-2 of the Act). YesxNoo



State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrants most recently computed second fiscal quarter. $850,000 based upon $0.01 per share which was the last price at which the common equity purchased by non-affiliates was last sold, since there is no public bid or ask price.



The number of shares of the issuers common stock issued and outstanding as of July 17, 2009 was 85,000,000 shares.



Documents Incorporated By Reference:  None



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TABLE OF CONTENTS




PagePART IItem 1
        Business
        1Item 1A
        Risk Factors
        3Item 1B
        Unresolved Staff Comments
        3Item 2
        Properties
        3Item 3
        Legal Proceedings
        4Item 4
        Submission of Matters to a Vote of Security Holders
        4PART IIItem 5
        Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
        4Item 6
        Selected Financial Data
        4Item 7
        Managements Discussion and Analysis of Financial Condition and Results of Operation
        5Item 7A
        Quantitative and Qualitative Disclosures About Market Risk.
        12Item 8
        Financial Statements.
        F-1Item 9
        Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
        13Item 9A(T)
        Controls and Procedures
        13Item 9B
        Other Information
        14PART IIIItem 10
        Directors, Executive Officers and Corporate Governance
        14Item 11
        Executive Compensation
        16Item 12
        Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
        16Item 13
        Certain Relationships and Related Transactions, and Director Independence
        17Item 14
        Principal Accountant Fees and Services
        17PART IVItem 15
        Exhibits, Financial Statement Schedules
        18SIGNATURES
        
        19



PART I



Item 1.
        Business.



As used in this Annual Report on Form 10-K (this Report), references to the Company, the Registrant, we, our or us refer to Pashminadepot.com, Inc., unless the context otherwise indicates.



Forward-Looking Statements



This Report contains forward-looking statements. For this purpose, any statements contained in this Report that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information includes statements relating to future actions, prospective products, future performance or results of current or anticipated products, sales and marketing efforts, costs and expenses, interest rates, outcome of contingencies, financial condition, results of operations, liquidity, business strategies, cost savings, objectives of management, and other matters. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as may, will, should, expects, anticipates, contemplates, estimates, believes, plans,
projected, predicts, potential, or continue or the negative of these similar terms. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information to encourage companies to provide prospective information about themselves without fear of litigation so long as that information is identified as forward-looking and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in the information.



These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that we cannot predict. In evaluating these forward-looking statements, you should consider various factors, including the following: (a) those risks and uncertainties related to general economic conditions, (b) whether we are able to manage our planned growth efficiently and operate profitable operations, (c) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations, (d) whether we are able to successfully fulfill our primary requirements for cash, which are explained below under Liquidity and Capital Resources. We assume no obligation to update forward-looking statements, except as otherwise required under the applicable federal securities laws.



Corporate Background



Pashminadepot.com, Inc. is a development stage company, which was incorporated in the State of Florida on November 13, 2007. We were initially focused on the business of developing a website to sell pashmina and other accessories. We intended purchase products from Jenlis, Inc., a respected seller of pashmina. The initial advantage to purchasing from Jenlis, Inc. was the availability of quality product without a need to carry extensive inventory. Jenlis, Inc. is a direct importer maintaining a substantial inventory in South Florida., which was established as an internet retail and wholesale business. There is already an extensive market for pashmina for casual wear as well as for bridal parties, corporate events, and holiday gifts. The internet provides the lowest cost marketing arena with the broadest audience for these type products and Jenlis, Inc. would benefit by expanding its wholesale business presence.



On November 13, 2007, a total of 6,000,000 shares of common stock were issued to our sole officer and director, all of which are restricted securities, as defined in Rule 144 of the Rules and Regulations of the SEC promulgated under the Securities Act.



From September 24, 2008 to November 17, 2008, the Company sold 2,500,000 shares of common stock to 40 shareholders pursuant to a Registration Statement filed with the U.S. Securities and Exchange Commission (the SEC) on June 25, 2008 (file no.333-151909), as amended by Registration Statement on Form S-1/A on July 30, 2008 and declared effective on August 13, 2008.



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On March 10, 2009 the Board of Directors and holder of a majority of the issued and outstanding common stock adopted a resolution effecting an 10 for one forward stock split of the Companys issued and outstanding common stock. In conjunction therewith, on March 11, 2009, the Company filed Articles of Amendment to its Articles of Incorporation with the Secretary of State of Florida. As a result of the 10 for 1 forward stock split, the Company has 85,000,000 shares of common stock issued and outstanding.



On April 20, 2009, Edward Sanders, the principal shareholder, president and a director of the Company, entered into a Common Stock Purchase Agreement which provided for the sale of 60,000,000 shares of common stock of the Company (the Purchased Shares) to Albury Investments Limited (the Purchaser). The consideration paid for the Purchased Shares, which represent 71% of the issued and outstanding share capital of the Company on a fully-diluted basis, was $175,000. The Purchaser, which is a Hong Kong limited company involved in making investments, used its working capital to purchase the Purchased Shares.



The address of our principal executive office is c/o Edward Sanders, 9694 Royal Palm Blvd., Coral Springs, Florida 33065. Our telephone number is (954) 856-5718. We do not have a functioning website at this time but we have reserved the domain name http://www.pashminadepot.com.



Business Overview



Due to the state of the economy, the Company has conducted virtually no business other than organizational matters, filing its Registration Statement and filings of periodic reports with the SEC. The Company has since abandoned its business plan and is now seeking an operating company with which to merge or to acquire.



We are now considered a blank check company. The SEC defines those companies as any development stage company that is issuing a penny stock, within the meaning of Section 3 (a)(51) of the Securities Exchange Act of 1934, as amended (the Exchange Act), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies. Under SEC Rule 12b-2 under the Securities Act of 1933, as amended (the Securities Act), we also qualify as a shell company, because we have no or nominal assets (other than cash) and no or nominal operations. Many states have enacted statutes, rules and regulations limiting the sale of securities of blank check companies in their respective jurisdictions. Management does not intend to undertake any efforts to cause a market to develop in our securities,
either debt or equity, until we have successfully concluded a business combination. We intend to comply with the periodic reporting requirements of the Exchange Act for so long as we are subject to those requirements.



The Companys current business plan is to attempt to identify and negotiate with a business target for the merger of that entity with and into the Company. In certain instances, a target company may wish to become a subsidiary of ours or may wish to contribute or sell assets to the Company rather than to merge. No assurances can be given that we will be successful in identifying or negotiating with any target company, or, if we do enter into such a business combination, no assurances can be given as to the terms of a business combination, or as to the nature of the target company. We seek to provide a method for a foreign or domestic private company to become a reporting or public company whose securities are qualified for trading in the United States secondary markets.



Competition



The Company is an insignificant participant among firms which engage in business combinations with, or financing of, development stage enterprises. There are many established management and financial consulting companies and venture capital firms which have significantly greater financial and personnel resources, technical expertise and experience than the Company. In view of the Companys limited financial resources and management availability, the Company will continue to be at a significant competitive disadvantage vis-a-vis the Companys competitors.



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Regulation and Taxation



The Investment Company Act of 1940 defines an investment company as an issuer which is or holds itself out as being engaged primarily in the business of investing, reinvesting or trading of securities. While the Company does not intend to engage in such activities, the Company could become subject to regulation under the Investment Company Act of 1940 in the event the Company obtains or continues to hold a minority interest in a number of development stage enterprises. The Company could be expected to incur significant registration and compliance costs if required to register under the Investment Company Act of 1940. Accordingly, management will continue to review the Companys activities from time to time with a view toward reducing the likelihood the Company could be classified as an investment company.



The Company intends to structure a merger or acquisition in such manner as to minimize Federal and state tax consequences to the Company and to any target company.



Staffing



As of May 31, 2009, Pashminadepot.com, Inc. has no permanent staff other than its sole officer and director, Edward Sanders, who is the President and Chairman of the company. Mr. Sanders has the flexibility to work on Pashminadepot.com, Inc. up to 10 to 25 hours per week. He is prepared to devote more time to our operations as may be required. He is not being paid at present.



Employees and Employment Agreements



At present, we have no employees other than our sole officer and director, Mr. Sanders, who has not been compensated. There are no employment agreements in existence. The company presently does not have, pension, health, annuity, insurance, stock options, profit sharing, or similar benefit plans; however, the company may adopt plans in the future. There are presently no personal benefits available to the companys director.



During the initial implementation of our marketing strategy, the company intends to hire independent consultants to develop its website, rather than hire full time website development/maintenance employees.




Item 1A.
        Risk Factors.



A smaller reporting company, as defined in Item 10 of Regulation S-K, is not required to provide the information required by this item.




Item 1B.
        Unresolved Staff Comments.



None




Item 2.
        Properties.



The company does not own any real estate or other properties. The companys office is located at 9694 Royal Palm Blvd., Coral Springs, FL 33065 and our telephone number is 954-856-5718. Our fax number is 954-755-5115. Our domain name is www.pashminadepot.com. Our business office is located at the home of our President, Edward Sanders and such space is made available to us at no charge. We believe that this space will be sufficient until we start generating revenues and need to hire employees.



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Item 3.
        Legal Proceedings.



There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company. The Companys property is not the subject of any pending legal proceedings.




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



During the period ending May 31, 2009, there has not been any matter which was submitted to a vote of the Companys shareholders through the solicitation of proxies or otherwise.



PART II



Item 5.Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.



Market Information



Our common stock is eligible to be traded on the Over-The-Counter Bulletin Board under the ticker symbol PASH. There has been no active trading in the Companys securities, and there has been no bid or ask prices quoted.



Holders



As of July 17, 2009, there were 85,000,000 common shares issued and outstanding, which were held by 41 stockholders of record.



Dividends



We have never declared or paid any cash dividends on our common stock nor do we anticipate paying any in the foreseeable future. Furthermore, we expect to retain any future earnings to finance our operations and expansion. The payment of cash dividends in the future will be at the discretion of our Board of Directors and will depend upon our earnings levels, capital requirements, any restrictive loan covenants and other factors the Board considers relevant.



Equity Compensation Plans



We do not have any equity compensation plans.



Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities



None



Purchases of Equity Securities by the Small Business Issuer and Affiliated Purchasers



We have not repurchased any shares of our common stock during the fiscal year ended May 31, 2009.




Item 6.
        Selected Financial Data.



A smaller reporting company, as defined in Item 10 of Regulation S-K, is not required to provide the information required by this item.



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Item 7.
        Managements Discussion and Analysis of Financial Condition and Results of Operations.



Certain statements contained in this prospectus,
including statements regarding the anticipated development and expansion of our business, our intent, belief or current
expectations, primarily with respect to the future operating performance of Pashminadepot.com, Inc. All forward-looking statements
speak only as of the date on which they are made. We undertake no obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they are made.



Plan of Operation - General



During the next 12 months, the Company intends to seek, investigate and, if such investigation warrants, acquire an interest in one or more business opportunities presented to it by persons or firms who or which desire to seek the perceived advantages of a publicly held corporation. At this time, the Company has no plan, proposal, agreement, understanding or arrangement to acquire or merge with any specific business or company, and the Company has not identified any specific business or company for investigation and evaluation. No member of management has had any material discussions with any other company with respect to any acquisition of that company.



The Company will not restrict its search to any specific business, industry or geographical location, and the Company may participate in a business venture of virtually any kind or nature. The discussion of the proposed plan of operation under this caption and throughout this Annual Report is purposefully general and is not meant to be restrictive of the Companys virtually unlimited discretion to search for and enter into potential business opportunities.



The Company will have to obtain funds in one or more private placements to finance the operation of any acquired business. Persons purchasing securities in these placements and other shareholders will likely not have the opportunity to participate in the decision relating to any acquisition. The Companys proposed business is sometimes referred to as a blind pool because any investors will entrust their investment monies to the Companys management before they have a chance to analyze any ultimate use to which their money may be put. Consequently, the Companys potential success is heavily dependent on the Companys management, which will have virtually unlimited discretion in searching for and entering into a business opportunity. None of the officers and directors of the Company has had any experience in the proposed business of the Company. There can be no assurance that
the Company will be able to raise any funds in private placements. In any private placement, management may purchase shares on the same terms as offered in the private placement.



Management anticipates that it will only participate in one potential business venture. This lack of diversification should be considered a substantial risk in investing in the Company because it will not permit the Company to offset potential losses from one venture against gains from another. The Company may seek a business opportunity with a firm which only recently commenced operations, or a developing company in need of additional funds for expansion into new products or markets, or seeking to develop a new product or service, or an established business which may be experiencing financial or operating difficulties and is in the need for additional capital which is perceived to be easier to raise by a public company. In some instances, a business opportunity may involve the acquisition or merger with a corporation which does not need substantial additional cash but which desires to establish a public
trading market for its common stock. The Company may purchase assets and establish wholly owned subsidiaries in various businesses or purchase existing businesses as subsidiaries.



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The Company anticipates that the selection of a business opportunity in which to participate will be complex and extremely risky. Because of general economic conditions, rapid technological advances being made in some industries, and shortages of available capital, management believes that there are numerous firms seeking the benefits of a publicly traded corporation. Such perceived benefits of a publicly traded corporation may include facilitating or improving the terms on which additional equity financing may be sought, providing liquidity for the principals of a business, creating a means for providing incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all shareholders, and other factors. Potentially available business opportunities may occur in many different industries and at various stages of development, all of which
will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.



As part of any transaction, the acquired company may require that management or other stockholders of the Company sell all or a portion of their shares to the acquired company, or to the principals of the acquired company. It is anticipated that the sales price of such shares will be lower than the current market price or anticipated market price of the Companys Common Stock. The Companys funds are not expected to be used for purposes of any stock purchase from insiders. The Company shareholders will not be provided the opportunity to approve or consent to such sale. The opportunity to sell all or a portion of their shares in connection with an acquisition may influence managements decision to enter into a specific transaction. However, management believes that since the anticipated sales price will be less than market value, that the potential of a stock sale by management will be a
material factor on their decision to enter a specific transaction.



The above description of potential sales of management stock is not based upon any corporate bylaw, shareholder or board resolution, or contract or agreement. No other payments of cash or property are expected to be received by management in connection with any acquisition.



The Company has not formulated any policy regarding the use of consultants or outside advisors, but does not anticipate that it will use the services of such persons.



The Company has, and will continue to have, insufficient capital with which to provide the owners of business opportunities with any significant cash or other assets. However, management believes the Company will offer owners of business opportunities the opportunity to acquire a controlling ownership interest in a public company at substantially less cost than is required to conduct an initial public offering. The owners of the business opportunities will, however, incur significant post-merger or acquisition registration costs in the event they wish to register a portion of their shares for subsequent sale. The Company will also incur significant legal and accounting costs in connection with the acquisition of a business opportunity including the costs of preparing post-effective amendments, Forms 8-K, agreements and related reports and documents nevertheless, the officers and directors of the Company
have not conducted market research and are not aware of statistical data which would support the perceived benefits of a merger or acquisition transaction for the owners of a business opportunity.



The Company does not intend to make any loans to any prospective merger or acquisition candidates or to unaffiliated third parties.



Sources of Opportunities



The Company anticipates that business opportunities for possible acquisition will be referred by various sources, including its officers and directors, professional advisers, securities broker-dealers, venture capitalists, members of the financial community, and others who may present unsolicited proposals.



The Company will seek a potential business opportunity from all known sources, but will rely principally on personal contacts of its officers and directors as well as indirect associations between them and other business and professional people. It is not presently anticipated that the Company will engage professional firms specializing in business acquisitions or reorganizations.



6

The officers and directors of the Company are currently employed in other positions and will devote only a portion of their time to the business affairs of the Company, until such time as an acquisition has been determined to be highly favorable. In addition, in the face of competing demands for their time, the officers and directors may grant priority to their full-time positions rather than to the Company.



Evaluation of Opportunities



The analysis of new business opportunities will be undertaken by or under the supervision of the officers and directors of the Company. Management intends to concentrate on identifying prospective business opportunities which may be brought to its attention through present associations with management. In analyzing prospective business opportunities, management will consider such matters as the available technical, financial and managerial resources; working capital and other financial requirements; history of operation, if any; prospects for the future; present and expected competition; the quality and experience of management services which may be available and the depth of that management; the potential for further research, development or exploration; specific risk factors not now foreseeable but which then may be anticipated to impact the proposed activities of the Company; the potential for growth or
expansion; the potential for profit; the perceived public recognition or acceptance of products, services or trades; name identification; and other relevant factors. Officers and directors of each Company will meet personally with management and key personnel of the firm sponsoring the business opportunity as part of their investigation. To the extent possible, the Company intends to utilize written reports and personal investigation to evaluate the above factors. The Company will not acquire or merge with any company for which audited financial statements cannot be obtained.



It may be anticipated that any opportunity in which the Company participates will present certain risks. Many of these risks cannot be adequately identified prior to selection of the specific opportunity, and the Companys shareholders must, therefore, depend on the ability of management to identify and evaluate such risk. In the case of some of the opportunities available to the Company, it may be anticipated that the promoters thereof have been unable to develop a going concern or that such business is in its development stage in that it has not generated significant revenues from its principal business activities prior to the Companys anticipation. There is a risk, even after the Companys participation in the activity and the related expenditure of the Companys funds, that the combined enterprises will still be unable to become a going concern or advance beyond the development
stage. Many of the opportunities may involve new and untested products, processes, or market strategies which may not succeed. Such risks will be assumed by the Company and, therefore, its shareholders.



The Company will not restrict its search for any specific kind of business, but may acquire a venture which is in its preliminary or development stage, which is already in operation, or in essentially any stage of its corporate life. It is currently impossible to predict the status of any business in which the Company may become engaged, in that such business may need additional capital, may merely desire to have its shares publicly traded, or may seek other perceived advantages which the Company may offer.



Acquisition of Opportunities



In implementing a structure for a particular business acquisition, the Company may become a party to a merger, consolidation, reorganization, joint venture, franchise or licensing agreement with another corporation or entity. It may also purchase stock or assets of an existing business. On the consummation of a transaction, it is possible that the present management and shareholders of the Company will not be in control of the Company. In addition, a majority or all of the Companys officers and directors may, as part of the terms of the acquisition transaction, resign and be replaced by new officers and directors without a vote of the Companys shareholders.



7

It is anticipated that any securities issued in any such reorganization would be issued in reliance on exemptions from registration under applicable Federal and state securities laws. In some circumstances, however, as a negotiated element of this transaction, the Company may agree to register such securities either at the time the transaction is consummated, under certain conditions, or at specified time thereafter. The issuance of substantial additional securities and their potential sale into any trading market which may develop in the Companys Common Stock may have a depressive effect on such market. While the actual terms of a transaction to which the Company may be a party cannot be predicted, it may be expected that the parties to the business transaction will find it desirable to avoid the creation of a taxable event and thereby structure the acquisition in a so called tax free
reorganization under Sections 368(a)(1) or 351 of the Internal Revenue Code of 1986, as amended (the Code). In order to obtain tax free treatment under the Code, it may be necessary for the owners of the acquired business to own 80% or more of the voting stock of the surviving entity. In such event, the shareholders of the Company, including investors in this offering, would retain less than 20% of the issued and outstanding shares of the surviving entity, which could result in significant dilution in the equity of such shareholders.



As part of the Companys investigation, officers and directors of the Company will meet personally with management and key personnel, may visit and inspect material facilities, obtain independent analysis or verification of certain information provided, check references of management and key personnel, and take other reasonable investigative measures, to the extent of the Companys limited financial resources and management expertise.



The manner in which each company participates in an opportunity will depend on the nature of the opportunity, the respective needs and desires of the company and other parties, and the relative negotiating strength of the company and its management.



With respect to any mergers or acquisitions, negotiations with target company management will be expected to focus on the percentage of the Company which target company shareholders would acquire in exchange for their shareholdings in the target company. Depending upon, among other things, the target companys assets and liabilities, the Companys shareholders will in all likelihood hold a lesser percentage ownership interest in the Company following any merger or acquisition. The percentage ownership may be subject to significant reduction in the event the Company acquires a target company with substantial assets. Any merger or acquisition effected by the Company can be expected to have a significant dilutive effect on the percentage of shares held by the Companys shareholders.



The Company will not have sufficient funds (unless it is able to raise funds in a private placement) to undertake any significant development, marketing and manufacturing of any products which may be acquired.



Accordingly, following the acquisition of any such product, the Company will, in all likelihood, be required to either seek debt or equity financing or obtain funding from third parties, in exchange for which the Company would probably be required to give up a substantial portion of its interest in any acquired product. There is no assurance that the Company will be able either to obtain additional financing or interest third parties in providing funding for the further development, marketing and manufacturing of any products acquired.



It is anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants, attorneys and others. If a decision is made not to participate in a specific business opportunity the costs therefore incurred in the related investigation would not be recoverable.



Furthermore, even if an agreement is reached for the participation in a specific business opportunity, the failure to consummate that transaction may result in the loss of the Company of the related costs incurred.



8

Management believes that the Company may be able to benefit from the use of leverage in the acquisition of a business opportunity. Leveraging a transaction involves the acquisition of a business through incurring significant indebtedness for a large percentage of the purchase price for that business.



Through a leveraged transaction, the Company would be required to use less of its available funds for acquiring the business opportunity and, therefore, could commit those funds to the operations of the business opportunity, to acquisition of other business opportunities or to other activities. The borrowing involved in a leveraged transaction will ordinarily be secured by the assets of the business opportunity to be acquired. If the business opportunity acquired is not able to generate sufficient revenues to make payments on the debt incurred by the Company to acquire that business opportunity, the lender would be able to exercise the remedies provided by law or by contract. These leveraging techniques, while reducing the amount of funds that the Company must commit to acquiring a business opportunity, may correspondingly increase the risk of loss to the Company. No assurance can be given as to the terms
or the availability of financing for any acquisition by the Company. No assurance can be given as to the terms or the availability of financing for any acquisition by the Company. During periods when interest rates are relatively high, the benefits of leveraging are not as great as during periods of lower interest rates because the investment in the business opportunity held on a leveraged basis will only be profitable if it generates sufficient revenues to cover the related debt and other costs of the financing. Lenders from which the Company may obtain funds for purposes of a leveraged buy-out may impose restrictions on the future borrowing, distribution, and operating policies of the Company. It is not possible at this time to predict the restrictions, if any, which lenders may impose or the impact thereof on the Company.



Liquidity and Capital Resources



Our balance sheet as of May 31, 2009 reflects cash assets in the amount of $4,796, as compared to $5,828 in cash for the period from November 13, 2007 (inception) to May 31, 2008. Cash and cash equivalents from inception to date have been sufficient to provide the operating capital necessary to operate to date. The Company had no revenues and incurred a net loss of $26,007 for the year ended May 31, 2009 as compared to net loss of $172 for the period from November 13, 2007 (inception) to May 31, 2008. During the period from November 13, 2007 (inception) to May 31, 2009, the Companys balance sheet reflected an accumulated deficit of $26,179.



The Company does not believe that it has sufficient capital to fund its expenses over the next twelve months. The Company raised $25,000 in a public offering. There can be no assurance that additional capital will be available to the Company. The Company currently has no agreements, arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources. Since the Company has no such arrangements or plans currently in effect, its inability to raise funds for the above purposes will have a severe negative impact on its ability to remain a viable company.



Going Concern Consideration



The accompanying financial statements have been prepared assuming that the company will continue as a going concern. As discussed in the notes to the financial statements, the Company has no established source of revenue. This raises substantial doubt about the Companys ability to continue as a going concern. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern. The financial statements do not include any adjustments that might result from this uncertainty.



The Companys activities to date have been supported by equity financing. It has sustained losses in all previous reporting periods with an accumulated deficit of $26,179 as of May 31, 2009. Management continues to seek funding from its shareholders and other qualified investors to pursue its business plan. In the alternative, the Company may be amenable to a sale, merger or other acquisition in the event such transaction is deemed by management to be in the best interests of the shareholders.



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Recently Issued Accounting Pronouncements



Below is a listing of the most recent accounting standards and their effect on the Company.



In April 2009, the FASB issued FSP No. FAS 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly (FSP FAS 157-4). FSP FAS 157-4 provides guidance on estimating fair value when market activity has decreased and on identifying transactions that are not orderly. Additionally, entities are required to disclose in interim and annual periods the inputs and valuation techniques used to measure fair value. This FSP is effective for interim and annual periods ending after June 15, 2009. The Company does not expect the adoption of FSP FAS 157-4 will have a material impact on its financial condition or results of operation.



In December 2008, the FASB issued FSP No. FAS 140-4 and FIN 46(R)-8, Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities. This disclosure-only FSP improves the transparency of transfers of financial assets and an enterprises involvement with variable interest entities, including qualifying special-purpose entities. This FSP is effective for the first reporting period (interim or annual) ending after December 15, 2008, with earlier application encouraged. The Company adopted this FSP effective January 1, 2009. The adoption of the FSP had no impact on the Companys results of operations, financial condition or cash flows.



In December 2008, the FASB issued FSP No. FAS 132(R)-1, Employers Disclosures about Postretirement Benefit Plan Assets (FSP FAS 132(R)-1). FSP FAS 132(R)-1 requires additional fair value disclosures about employers pension and postretirement benefit plan assets consistent with guidance contained in SFAS 157. Specifically, employers will be required to disclose information about how investment allocation decisions are made, the fair value of each major category of plan assets and information about the inputs and valuation techniques used to develop the fair value measurements of plan assets. This FSP is effective for fiscal years ending after December 15, 2009. The Company does not expect the adoption of FSP FAS 132(R)-1 will have a material impact on its financial condition or results of operation.



In October 2008, the FASB issued FSP No. FAS 157-3, Determining the Fair Value of a Financial Asset When the Market for That Asset is Not Active, (FSP FAS 157-3), which clarifies application of SFAS 157 in a market that is not active. FSP FAS 157-3 was effective upon issuance, including prior periods for which financial statements have not been issued. The adoption of FSP FAS 157-3 had no impact on the Companys results of operations, financial condition or cash flows.



In September 2008, the FASB issued exposure drafts that eliminate qualifying special purpose entities from the guidance of SFAS No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, and FASB Interpretation 46 (revised December 2003), Consolidation of Variable Interest Entities  an interpretation of ARB No. 51, as well as other modifications. While the proposed revised pronouncements have not been finalized and the proposals are subject to further public comment, the Company anticipates the changes will not have a significant impact on the Companys financial statements. The changes would be effective March 1, 2010, on a prospective basis.



In June 2008, the FASB issued FASB Staff Position EITF 03-6-1,Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities,(FSP EITF 03-6-1). FSP EITF 03-6-1 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting, and therefore need to be included in the computation of earnings per share under the two-class method as described in FASB Statement of Financial Accounting Standards No. 128, Earnings per Share. FSP EITF 03-6-1 is effective for financial statements issued for fiscal years beginning on or after December 15, 2008 and earlier adoption is prohibited. We are not required to adopt FSP EITF 03-6-1; neither do we believe that FSP EITF 03-6-1 would have material effect on our consolidated financial positionand results of operations if adopted.



10

In May 2008, the Financial Accounting Standards Board (FASB) issued SFAS No. 163, Accounting for Financial Guarantee Insurance Contracts-and interpretation of FASB Statement No. 60. SFAS No. 163 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement of premium revenue and claims liabilities. This statement also requires expanded disclosures about financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal years beginning on or after December 15, 2008, and interim periods within those years. SFAS No. 163 has no effect on the Companys financial position, statements of operations, or cash flows at this time.



In May 2008, the Financial Accounting Standards Board (FASB) issued SFAS No. 162, The Hierarchy of Generally Accepted Accounting Principles. SFAS No. 162 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. SFAS No. 162 will become effective 60 days after the SEC approves the PCAOBs amendments to AU Section 411 of the AICPA Professional Standards. SFAS No. 162 has no effect on the Companys financial position, statements of operations, or cash flows at this time.



In March 2008, the Financial Accounting Standards Board, or FASB, issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activitiesan amendment of FASB Statement No. 133. This standard requires companies to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entitys financial position, financial performance, and cash flows. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008, with early application encouraged. The Company has not yet adopted the provisions of SFAS No. 161, but does not expect it to have a material impact on its consolidated financial position, results
of operations or cash flows.



In December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding the use of a simplified method, as discussed in SAB No. 107 (SAB 107), in developing an estimate of expected term of plain vanilla share options in accordance with SFAS No. 123 (R), Share-Based Payment. In particular, the staff indicated in SAB 107 that it will accept a companys election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share
option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007. The Company currently uses the simplified method for plain vanilla share options and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.



In December 2007, the FASB issued SFAS No. 160, Non-controlling Interests in Consolidated Financial Statementsan amendment of ARB No. 51. This statement amends ARB 51 to establish accounting and reporting standards for the non-controlling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a non-controlling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Before this statement was issued, limited guidance existed for reporting non-controlling interests. As a result, considerable diversity in practice existed. So-called minority interests were reported in the consolidated statement of financial position as liabilities or in the mezzanine section between liabilities and equity. This statement improves comparability by eliminating that diversity. This statement is
effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier adoption is prohibited. The effective date of this statement is the same as that of the related Statement 141 (revised 2007). The Company will adopt this Statement beginning March 1, 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.



11

In December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations. This Statement replaces FASB Statement No. 141, Business Combinations, but retains the fundamental requirements in Statement 141. This Statement establishes principles and requirements for how the acquirer: (a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any non-controlling interest in the acquiree; (b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and (c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. This statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or
after December 15, 2008. An entity may not apply it before that date. The effective date of this statement is the same as that of the related FASB Statement No. 160, Non-controlling Interests in Consolidated Financial Statements. The Company will adopt this statement beginning March 1, 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.



In February 2007, the FASB, issued SFAS No. 159, The Fair Value Option for Financial Assets and LiabilitiesIncluding an Amendment of FASB Statement No. 115. This standard permits an entity to choose to measure many financial instruments and certain other items at fair value. This option is available to all entities. Most of the provisions in FAS 159 are elective; however, an amendment to FAS 115 Accounting for Certain Investments in Debt and Equity Securities applies to all entities with available for sale or trading securities. Some requirements apply differently to entities that do not report net income. SFAS No. 159 is effective as of the beginning of an entitys first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of the previous fiscal year provided that the entity makes that choice in the first 120 days of that fiscal year and also elects to
apply the provisions of SFAS No. 157 Fair Value Measurements. The Company will adopt SFAS No. 159 beginning March 1, 2008 and is currently evaluating the potential impact the adoption of this pronouncement will have on its consolidated financial statements.



Off-Balance Sheet Arrangements



We have no off-balance sheet arrangements.




Item 7A.
        Quantitative and Qualitative Disclosures About Market Risk.



A smaller reporting company, as defined by Item 10 of Regulation S-K, is not required to provide the information required by this item.



12

Item 8.
        Financial Statements.



MOORE & ASSOCIATES, CHARTEREDACCOUNTANTS AND ADVISORSPCAOB REGISTERED





REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To the Board of Directors

PashminaDepot.com

(A Development Stage Company)



We have audited the accompanying balance sheets of PashminaDepot.com (A Development Stage Company) as of May 31, 2009 and 2008, and the related statements of operations, stockholders equity (deficit) and cash flows for the year ended May 31, 2009, and the periods from inception on November 13, 2007 through May 31, 2008 and 2009. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audits.



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



In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of PashminaDepot.com (A Development Stage Company) as of May 31, 2009 and 2008, and the related statements of operations, stockholders equity and cash flows for the year ended May 31, 2009, and the periods from inception on November 13, 2007 through May 31, 2008 and 2009, in conformity with accounting principles generally accepted in the United States of America.



The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has an accumulated deficit of $26,179, which raises substantial doubt about its ability to continue as a going concern. Managements plans concerning these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.



/s/ Moore & Associates, Chartered



Moore & Associates, Chartered

Las Vegas, Nevada

July 13, 2009



6490 West Desert Inn Rd, Las Vegas, NV 89146 (702) 253-7499 Fax (702) 253-7501



F-1

PASHMINADEPOT.COM, INC.

(A Development Stage Company)

Balance Sheets



ASSETSAs of
        
        As ofMay 31 2009
        
        May 31 2008CURRENT ASSETSCash
        
        $
        4,796
        
        $
        5,828Total Current Assets
        
        
        4,796
        
        
        5,828TOTAL ASSETS
        
        $
        4,796
        
        $
        5,828LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)CURRENT LIABILITIESAccounts payable
        
        $
        
        
        $
        Note payable - related party
        
        
        
        
        
        Total Current Liabilities
        
        
        
        
        
        STOCKHOLDERS' EQUITY (DEFICIT)Capital Stock (Note 3)Authorized:10,000,000 preferred shares, $0.0001 par valueIssued and outstanding shares:Zero
        
        
        
        
        
        Authorized:100,000,000 common shares, $0.0001 par valueIssued and outstanding shares:85,000,000 (60,000,000 at May 31, 2008)
        
        
        8,500
        
        
        6,000Additional paid-in capital
        
        
        22,475
        
        
        Deficit accumulated during the development stage
        
        
        (26,179
        )
        
        (172
        )Total Stockholders' Equity (Deficit)
        
        
        4,796
        
        
        5,828TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
        
        $
        4,796
        
        $
        5,828



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



F-2

PASHMINADEPOT.COM, INC.

(A Development Stage Company)

Statements of Operations




From
        
        FromInception on
        
        Inception onFor the Year
        
        November 13
        
        November 13Ended
        
        2007 Through
        
        2007 ThroughMay 31 2009
        
        May 31 2008
        
        May 31 2009REVENUES
        
        $
        
        
        $
        
        
        $
        EXPENSESCorporate Fees
        
        
        9,754
        
        
        
        
        
        9,754Professional Fees
        
        
        16,253
        
        
        172
        
        
        16,425Total Expenses
        
        
        26,007
        
        
        172
        
        
        26,179LOSS before Income Tax
        
        
        (26,007
        )
        
        (172
        )
        
        (26,179
        )Provision for Income Tax
        
        
        
        
        
        
        
        
        NET LOSS
        
        $
        (26,007
        )
        $
        (172
        )
        $
        (26,179
        )BASIC AND DILUTED LOSS PER COMMON SHARE
        
        $
        (0.00
        )
        $
        (0.00
        )AVERAGE COMMON SHARES OUTSTANDING
        
        
        73,356,164
        
        
        60,000,000



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



F-3

PASHMINADEPOT.COM, INC.

(A Development Stage Company)

Statements of Stockholders' Equity (Deficit)



DeficitAccumulated
        
        TotalAdditional
        
        During the
        
        Stockholders'Common Stock
        
        Paid-In
        
        Development
        
        EquityShares
        
        Amount
        
        Capital
        
        Stage
        
        (Deficit)Inception - November 13, 2007
        
        
        
        $
        
        
        $
        
        
        $
        
        
        $
        Common stock issued November 13, 2007 for cash at $0.0001 per share (par value $0.0001)
        
        60,000,000
        
        
        6,000
        
        
        
        
        
        
        
        
        6,000Net (loss) from inception on November 13, 2007 to May 31, 2008
        
        
        
        
        
        
        
        
        
        
        (172
        )
        
        (172
        )Balance - May 31, 2008
        
        60,000,000
        
        
        6,000
        
        
        
        
        
        (172
        )
        
        5,828Common Stock issued pursuant to offering for cash at$0.0036per share (par value $0.0001) on November 17, 2008
        
        25,000,000
        
        
        2,500
        
        
        22,475
        
        
        
        
        
        24,975Net (loss) for the year ended from May 31, 2009
        
        
        
        
        
        
        
        
        
        
        (26,007
        )
        
        (26,007
        )Balance, May 31, 2009
        
        85,000,000
        
        $
        8,500
        
        $
        22,475
        
        $
        (26,179
        )
        $
        4,796



Retroactively Stated due to 10 to 1 Forward Split effective on March 26, 2009



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



F-4

PASHMINADEPOT.COM, INC.

(A Development Stage Company)

Statements of Cash Flows



From
        
        FromInception on
        
        Inception onFor the Year
        
        November 13
        
        November 13Ended
        
        2007 Through
        
        2007 ThroughMay 31 2009
        
        May 31 2008
        
        May 31 2009OPERATING ACTIVITIESLOSS FOR THE PERIOD
        
        $
        (26,007
        )
        $
        (172
        )
        $
        (26,179
        )Changes in Operating Assets and Liabilities:(Increase) decrease in prepaid expenses
        
        
        
        
        
        
        
        
        Increase (decrease) in accounts payable
        
        
        
        
        
        
        
        
        Increase (decrease) in accrued liabilities
        
        
        
        
        
        
        
        
        Increase in short-term note payable (leasehold)
        
        
        
        
        
        
        
        
        Net Cash used in Operating Activities
        
        
        (26,007
        )
        
        (172
        )
        
        (26,179
        )INVESTING ACTIVITIESNet cash provided by financing activities
        
        
        
        
        
        
        
        
        FINANCING ACTIVITIESCommon stock issued for cash
        
        
        24,975
        
        
        6,000
        
        
        30,975Net Cash Provided by Financing Activities
        
        
        24,975
        
        
        6,000
        
        
        30,975Increase in Cash and Cash Equivalents
        
        
        (1,032
        )
        
        5,828
        
        
        4,796CASH AT BEGINNING OF PERIOD
        
        
        5,828
        
        
        
        
        
        5,828CASH AT END OF PERIOD
        
        $
        4,796
        
        $
        5,828
        
        $
        10,624SUPPLEMENTAL DISCLOSURES OFCASH FLOW INFORMATIONCASH PAID FOR:Interest
        
        $
        
        
        $
        
        
        $
        Income Taxes
        
        $
        
        
        $
        
        
        $
        




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



F-5

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 1  Nature of Operations



Pashminadepot.com, Inc. (A Development Stage Company) was incorporated in the state of Florida on November 13, 2007 under the laws of the State of Florida initially to focus on the business of developing a website to sell pashmina and other accessories. Due to the state of the economy, the Company has conducted virtually no business other than organizational matters, filing its Registration Statement and filings of periodic reports with the SEC. The Company has since abandoned its business plan and is now seeking an operating company with which to merge or to acquire. The Companys current business plan is to attempt to identify and negotiate with a business target for the merger of that entity with and into the Company. It has no operations and accordance with SFAS#7 is considered to be in the development stage.



Note 2  Going Concern



The accompanying financial statements have been prepared assuming that the company will continue as a going concern. As discussed in the notes to the financial statements, the Company has no established source of revenue. This raises substantial doubt about the Companys ability to continue as a going concern. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern. The financial statements do not include any adjustments that might result from this uncertainty.



The Companys activities to date have been supported by equity financing. It has sustained losses in all previous reporting periods with an accumulated deficit of $26,179 as of May 31, 2009. Management continues to seek funding from its shareholders and other qualified investors to pursue its business plan. In the alternative, the Company may be amenable to a sale, merger or other acquisition in the event such transaction is deemed by

management to be in the best interests of the shareholders.



Note 3  Significant Accounting Policies



Accounting Basis



These financial statements are prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.



Financial Instrument



The Companys financial instrument consists of amount due to stockholder.



The amount due to stockholder is non interest-bearing. It is managements opinion that the Company is not exposed to significant interest, currency or credit risks arising from its other financial instruments and that their fair values approximate their carrying values except where separately disclosed.



Property



The Company does not own any property, the business office is located at the home of our President and such space is made available at no charge.



F-6

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 3  Significant Accounting Policies (continued)



Use of Estimates



The preparation of financial statements in conformity with generally accepted accounting principles of the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The more significant areas requiring the use of estimates include asset impairment, stock-based compensation, and future income tax amounts. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates.



Advertising



The Company expenses advertising costs as incurred. The Company has had no advertising activity since inception.



Loss Per Share



Basic loss per share is calculated using the weighted average number of common shares outstanding and the treasury stock method is used to calculate diluted earnings per share. For the years presented, this calculation proved to be anti-dilutive.



Dividends



The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during the period shown.



Income Taxes



The Company provides for income taxes under Statement of Financial Accounting Standards NO. 109, Accounting for Income Taxes. SFAS No. 109 requires the use of an asset and liability approach in accounting for income taxes.



SFAS No. 109 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. No provision for income taxes is included in the statement due to its immaterial amount, net of the allowance account, based on the likelihood of the Company to utilize the loss carry-forward.



Net Income Per Common Share



Net income (loss) per common share is computed based on the weighted average number of common shares outstanding and common stock equivalents, if not anti-dilutive. The Company has not issued any potentially dilutive common shares.



Note 4  Due to Stockholder



The amount owing to stockholder is unsecured, non-interest bearing and has no specific terms of repayment.



F-7

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 5  Capital stock



Preferred Shares  Authorized



Zero preferred shares issued and outstanding as of May 31, 2009.



The company has 10,000,000 preferred shares authorized at a par value of $0.0001 per share.



Common Shares  Authorized



The company has 100,000,000 common shares authorized at a par value of $0.0001 per share.



Common Shares  Issued and Outstanding



During the year ended May 31, 2009, the company issued 25,000,000 common shares for total proceeds of $2500.



As at May 31, 2009 the Company had 85,000,000 common shares issued and outstanding.



As at May 31, 2009 the Company has no warrants or options outstanding.



Note 6  Income Taxes



The Company provides for income taxes under Statement of Financial Accounting Standards No. 109,Accounting for Income Taxes. SFAS No. 109 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect currently.



SFAS No. 109 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In the Companys opinion, it is uncertain whether they will generate sufficient taxable income in the future to fully utilize the net deferred tax asset. No provision for income taxes is included in the statement due to its immaterial amount, net of the allowance account, based on the likelihood of the Company to utilize the loss carry-forward.

Details for the last three years follow:




Year Ended
        
        May 31, 2009Deferred Tax AssetValuation AllowanceCurrent Taxes Payable
        
        0.00Income Tax Expense
        
        $ 0.00



The Company has filed no income tax returns since inception.



The company has non-capital losses of $26,179.



F-8

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 7  Related Party Transactions



As at May 31, 2009 there is a balance owing to a stockholder of the Company in the amount of $0.



The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities that become available. They may face a conflict in selecting between the Company and other business interests. The Company has not formulated a policy for the resolution of such conflicts.



Note 8  Concentrations of Risks



Cash Balances



The Company maintains its cash in institutions insured by the Federal Deposit Insurance Corporation (FDIC). This government corporation insured balances up to $100,000 through October 13, 2008. As of October 14, 2008 all non-interest bearing transaction deposit accounts at an FDIC-insured institution, including all personal and business checking deposit accounts that do not earn interest, are fully insured for the entire amount in the deposit account. This unlimited insurance coverage is temporary and will remain in effect for participating institutions until December 31, 2009.



All other deposit accounts at FDIC-insured institutions are insured up to at least $250,000 per depositor until December 31, 2009. On January 1, 2010, FDIC deposit insurance for all deposit accounts, except for certain retirement accounts, will return to at least $100,000 per depositor. Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, will remain at $250,000 per depositor.



Note 9  Recent Accounting Pronouncements



Below is a listing of the most recent accounting standards and their effect on the Company.



In April 2009, the FASB issued FSP No. FAS 157-4, Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly (FSP FAS 157-4). FSP FAS 157-4 provides guidance on estimating fair value when market activity has decreased and on identifying transactions that are not orderly. Additionally, entities are required to disclose in interim and annual periods the inputs and valuation techniques used to measure fair value. This FSP is effective for interim and annual periods ending after June 15, 2009. The Company does not expect the adoption of FSP FAS 157-4 will have a material impact on its financial condition or results of operation.



In December 2008, the FASB issued FSP No. FAS 140-4 and FIN 46(R)-8, Disclosures by Public Entities (Enterprises) about Transfers of Financial Assets and Interests in Variable Interest Entities. This disclosure-only FSP improves the transparency of transfers of financial assets and an enterprises involvement with variable interest entities, including qualifying special-purpose entities. This FSP is effective for the first reporting period (interim or annual) ending after December 15, 2008, with earlier application encouraged. The Company adopted this FSP effective January 1, 2009. The adoption of the FSP had no impact on the Companys results of operations, financial condition or cash flows.



F-9

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 9  Recent Accounting Pronouncements (continued)



In December 2008, the FASB issued FSP No. FAS 132(R)-1, Employers Disclosures about Postretirement Benefit Plan Assets (FSP FAS 132(R)-1). FSP FAS 132(R)-1 requires additional fair value disclosures about employers pension and postretirement benefit plan assets consistent with guidance contained in SFAS 157. Specifically, employers will be required to disclose information about how investment allocation decisions are made, the fair value of each major category of plan assets and information about the inputs and valuation techniques used to develop the fair value measurements of plan assets. This FSP is effective for fiscal years ending after December 15, 2009. The Company does not expect the adoption of FSP FAS 132(R)-1 will have a material impact on its financial condition or results of operation.



In October 2008, the FASB issued FSP No. FAS 157-3, Determining the Fair Value of a Financial Asset When the Market for That Asset is Not Active, (FSP FAS 157-3), which clarifies application of SFAS 157 in a market that is not active. FSP FAS 157-3 was effective upon issuance, including prior periods for which financial statements have not been issued. The adoption of FSP FAS 157-3 had no impact on the Companys results of operations, financial condition or cash flows.



In September 2008, the FASB issued exposure drafts that eliminate qualifying special purpose entities from the guidance of SFAS No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities, and FASB Interpretation 46 (revised December 2003), Consolidation of Variable Interest Entities  an interpretation of ARB No. 51, as well as other modifications. While the proposed revised pronouncements have not been finalized and the proposals are subject to further public comment, the Company anticipates the changes will not have a significant impact on the Companys financial statements. The changes would be effective March 1, 2010, on a prospective basis.



In June 2008, the FASB issued FASB Staff Position EITF 03-6-1,Determining Whether Instruments Granted in Share-Based Payment Transactions Are Participating Securities,(FSP EITF 03-6-1). FSP EITF 03-6-1 addresses whether instruments granted in share-based payment transactions are participating securities prior to vesting, and therefore need to be included in the computation of earnings per share under the two-class method as described in FASB Statement of Financial Accounting Standards No. 128, Earnings per Share. FSP EITF 03-6-1 is effective for financial statements issued for fiscal years beginning on or after December 15, 2008 and earlier adoption is prohibited. We are not required to adopt FSP EITF 03-6-1; neither do we believe that FSP EITF 03-6-1 would have material effect on our consolidated financial positionand results of operations if adopted.



In May 2008, the Financial Accounting Standards Board (FASB) issued SFAS No. 163, Accounting for Financial Guarantee Insurance Contracts-and interpretation of FASB Statement No. 60. SFAS No. 163 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement of premium revenue and claims liabilities. This statement also requires expanded disclosures about financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal years beginning on or after December 15, 2008, and interim periods within those years. SFAS No. 163 has no effect on the Companys financial position, statements of operations, or cash flows at this time.



In May 2008, the Financial Accounting Standards Board (FASB) issued SFAS No. 162, The Hierarchy of Generally Accepted Accounting Principles. SFAS No. 162 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. SFAS No. 162 will become effective 60 days after the SEC approves the PCAOBs amendments to AU Section 411 of the AICPA Professional Standards. SFAS No. 162 has no effect on the Companys financial position, statements of operations, or cash flows at this time.



F-10

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 9  Recent Accounting Pronouncements (continued)



In March 2008, the Financial Accounting Standards Board, or FASB, issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activitiesan amendment of FASB Statement No. 133. This standard requires companies to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entitys financial position, financial performance, and cash flows. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008, with early application encouraged. The Company has not yet adopted the provisions of SFAS No. 161, but does not expect it to have a material impact on its consolidated financial position, results
of operations or cash flows.



In December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding the use of a simplified method, as discussed in SAB No. 107 (SAB 107), in developing an estimate of expected term of plain vanilla share options in accordance with SFAS No. 123 (R), Share-Based Payment. In particular, the staff indicated in SAB 107 that it will accept a companys election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share
option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007. The Company currently uses the simplified method for plain vanilla share options and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.



In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statementsan amendment of ARB No. 51. This statement amends ARB 51 to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Before this statement was issued, limited guidance existed for reporting noncontrolling interests. As a result, considerable diversity in practice existed. So-called minority interests were reported in the consolidated statement of financial position as liabilities or in the mezzanine section between liabilities and equity. This statement improves comparability by eliminating that diversity. This statement is
effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier adoption is prohibited. The effective date of this statement is the same as that of the related Statement 141 (revised 2007). The Company will adopt this Statement beginning March 1, 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.



F-11

PashminaDepot.com, Inc.

(A Development Stage Company)

Notes to Financial Statements

May 31, 2009



Note 9  Recent Accounting Pronouncements (continued)



In December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations. This Statement replaces FASB Statement No. 141, Business Combinations, but retains the fundamental requirements in Statement 141. This Statement establishes principles and requirements for how the acquirer: (a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree; (b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and (c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. This statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or
after December 15, 2008. An entity may not apply it before that date. The effective date of this statement is the same as that of the related FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements. The Company will adopt this statement beginning March 1, 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.



In February 2007, the FASB, issued SFAS No. 159, The Fair Value Option for Financial Assets and LiabilitiesIncluding an Amendment of FASB Statement No. 115. This standard permits an entity to choose to measure many financial instruments and certain other items at fair value. This option is available to all entities. Most of the provisions in FAS 159 are elective; however, an amendment to FAS 115 Accounting for Certain Investments in



Debt and Equity Securities applies to all entities with available for sale or trading securities. Some requirements apply differently to entities that do not report net income. SFAS No. 159 is effective as of the beginning of an entitys first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of the previous fiscal year provided that the entity makes that choice in the first 120 days of that fiscal year and also elects to apply the provisions of SFAS No. 157 Fair Value Measurements. The Company will adopt SFAS No. 159 beginning March 1, 2008 and is currently evaluating the potential impact the adoption of this pronouncement will have on its consolidated financial statements.



F-12

Item 9.
        Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.



None.




Item 9A(T).
        Controls and Procedures.



Managements annual report on internal control over financial reporting



Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 as a process designed by, or under the supervision of, the companys principal executive and principal financial officers and effected by the companys board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that:




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






        Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States of America and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and






        Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the companys assets that could have a material effect on the financial statements.




Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process. Therefore, it is
possible to design into the process safeguards to reduce, though not eliminate, this risk.



As of May 31, 2009 management assessed the effectiveness of our internal control over financial reporting based on the criteria for effective internal control over financial reporting established in Internal ControlIntegrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and SEC guidance on conducting such assessments. Based on that evaluation, they concluded that, during the period covered by this report, such internal controls and procedures were not effective to detect the inappropriate application of US GAAP rules as more fully described below. This was due to deficiencies that existed in the design or operation of our internal controls over financial reporting that adversely affected our internal controls and that may be considered to be material weaknesses. The matters involving internal controls and procedures that our management
considered to be material weaknesses under the standards of the Public Company Accounting Oversight Board were: (1) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of a majority of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (2) inadequate segregation of duties consistent with control objectives; and (3) ineffective controls over period end financial disclosure and reporting processes. The aforementioned material weaknesses were identified by our Principal Executive Officer in connection with the review of our financial statements as of May 31, 2009.



13

Management believes that the material weaknesses set forth in items (2) and (3) above did not have an effect on our financial results. However, management believes that the lack of an audit committee and the lack of a majority of outside directors on our board of directors results in ineffective oversight in the establishment and monitoring of required internal controls and procedures, which could result in a material misstatement in our financial statements in future periods.



Managements Remediation Initiatives



In an effort to remediate the identified material weaknesses and other deficiencies and enhance our internal controls, we have initiated, or plan to initiate, the following series of measures:



We will create a position to segregate duties consistent with control objectives and will increase our personnel resources and technical accounting expertise within the accounting function when funds are available to us. And, we plan to appoint one or more outside directors to our board of directors who shall be appointed to an audit committee resulting in a fully functioning audit committee who will undertake the oversight in the establishment and monitoring of required internal controls and procedures such as reviewing and approving estimates and assumptions made by management when funds are available to us.



Management believes that the appointment of one or more outside directors, who shall be appointed to a fully functioning audit committee, will remedy the lack of a functioning audit committee and a lack of a majority of outside directors on our Board.



We anticipate that these initiatives will be at least partially, if not fully, implemented by December 31, 2009. Additionally, we plan to test our updated controls and remediate our deficiencies by December 31, 2009.



Attestation report of the registered public accounting firm



This annual report does not include an attestation report of the Companys registered public accounting firm regarding internal control over financial reporting. Managements report was not subject to attestation by the Companys registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the company to provide only managements report in this annual report.



Changes in internal controls over financial reporting



There was no change in our internal controls over financial reporting that occurred during the period covered by this report, which has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.




Item 9B.
        Other Information.



None.



PART III




Item 10.
        Directors, Executive Officers and Corporate Governance.



Directors and Executive Officers



The following table sets forth certain information regarding the members of our board of directors and our executive officers:



14

Name
        
        Age
        
        Positions and Offices HeldEdward Sanders
            9694 Royal Palm Blvd.
            Coral Springs, FL 33065
        
        63
        
        President, Secretary, Treasurer,
            Principal Executive Officer,
            Principal Financial Officer and sole
            member of the Board of Directors



Edward Sandershas been our sole officer and director since our inception on November 13, 2007 and has been the Vice president of Jenlis, Inc., an internet sales company with several websites, from 2005 to present. Also, from 1990 to present, Mr. Sanders has been an employee of Corporate Express Imaging, which is the largest computer supply dealer in the US. During the first 6 years at Corporate Express Imaging, Mr. Sanders worked exclusively in the sales division and thereafter has been the director of the bid department. Corporate Express Imaging is a wholly owned division of Corporate Express Inc., a NYSE company. Corporate Express Imaging has sales in excess of $450 million annually. Corporate Express, Inc has Revenues in excess of $9 billion. From 1983 to 1990 Mr. Sanders was a partner in Silky Button Company, a manufacturer of covered buttons and belts to the garment industry.



Mr. Sanders is not a director or officer in any other U.S. reporting companies and he has not been affiliated with any company that has filed for bankruptcy within the last five years. The Company is not aware of any proceedings to which Mr. Sanders, or any of his associates, is a party adverse to the Company or any of the Companys subsidiaries or has a material interest adverse to it or any of its subsidiaries.



Each director of the Company serves for a term of one year or until the successor is elected at the Companys annual shareholders meeting and is qualified, subject to removal by the Companys shareholders. Each officer serves, at the pleasure of the board of directors, for a term of one year and until the successor is elected at the annual meeting of the board of directors and is qualified.



Section 16(a) Beneficial Ownership Reporting Compliance



Section 16(a) of the Securities Exchange Act of 1934 requires officers and directors of the Company and persons who own more than ten percent of a registered class of the Companys equity securities to file reports of ownership and changes in their ownership with the Securities and Exchange Commission, and forward copies of such filings to the Company. We believe, based solely on our review of the copies of such forms, that during the fiscal year ended May 31, 2009, all reporting persons complied with all applicable Section 16(a) filing requirements.



Auditors



Moore & Associates, Chartered Accountants and Advisors, an independent registered public accounting firm, is our auditor.



We do not currently have a Code of Ethics applicable to our principal executive, financial and accounting officers. We do not have a financial expert on the board or an audit committee or nominating committee.



Potential Conflicts of Interest



Since we do not have an audit or compensation committee comprised of independent directors, the functions that would have been performed by such committees are performed by our directors. The Board of Directors has not established an audit committee and does not have an audit committee financial expert, nor has the Board established a nominating committee. The Board is of the opinion that such committees are not necessary since the Company has only one director, and to date, such director has been performing the functions of such committees. Thus, there is a potential conflict of interest in that our sole director and officer has the authority to determine issues concerning management compensation, nominations, and audit issues that may affect management decisions. We are not aware of any other conflicts of interest with any of our executive officers or directors.



15

Involvement in Certain Legal Proceedings



There are no legal proceedings that have occurred within the past five years concerning our directors, or control persons which involved a criminal conviction, a criminal proceeding, an administrative or civil proceeding limiting ones participation in the securities or banking industries, or a finding of securities or commodities law violations.



Item 11.
        Executive Compensation.



Summary Compensation



Since our incorporation on November 13, 2007, we have not paid any compensation to our director or officer in consideration for his services rendered to our Company in his capacity as such. We have no employment agreements with any of our director or executive officer. We have no pension, health, annuity, bonus, insurance, stock options, profit sharing or similar benefit plans.



Since our incorporation on November 13, 2007, no stock options or stock appreciation rights were granted to any of our director or executive officer. We have no equity incentive plans.



Outstanding Equity Awards



Our sole director or executive officer does not hold any unexercised options, stock that had not vested, or equity incentive plan awards.



Compensation of Directors



Since our incorporation on November 13, 2007, no compensation has been paid to any of our director in consideration for his services rendered in his capacity as director.



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



The following table lists, as of July 17, 2009, the number of shares of common stock of our Company that are beneficially owned by (i) each person or entity known to our Company to be the beneficial owner of more than 5% of the outstanding common stock; (ii) each officer and director of our Company; and (iii) all officers and directors as a group. Information relating to beneficial ownership of common stock by our principal shareholders and management is based upon information furnished by each person using beneficial ownership concepts under the rules of the Securities and Exchange Commission. Under these rules, a person is deemed to be a beneficial owner of a security if that person has or shares voting power, which includes the power to vote or direct the voting of the security, or investment power, which includes the power to vote or direct the voting of the security. The person is also
deemed to be a beneficial owner of any security of which that person has a right to acquire beneficial ownership within 60 days. Under the Securities and Exchange Commission rules, more than one person may be deemed to be a beneficial owner of the same securities, and a person may be deemed to be a beneficial owner of securities as to which he or she may not have any pecuniary beneficial interest. Except as noted below, each person has sole voting and investment power.



The percentages below are calculated based on 85,000,000 shares of our common stock issued and outstanding as of July 17, 2009. We do not have any outstanding options, warrants or other securities exercisable for or convertible into shares of our common stock. Unless otherwise indicated, the address of each person listed is c/o Pashminadepot.com, Inc., 9694 Royal Palm Blvd, Coral Springs, Florida 33605.



16

Name of Beneficial Owner
        
        Number of Shares
of Common Stock
Beneficially Owned
        
        Percent of
Common Stock
Beneficially OwnedAlbury Investments Ltd
        
        60,000,000
        
        71%All directors and executive officers
as a group (0) person)
        
        0
        
        0%



(1) The person named above may be deemed to be a parent and promoter of our company, within the meaning of such terms under the Securities Act of 1933, as amended, by virtue of his direct and indirect stock holdings. Mr. Sanders is the only promoter of our company.




Item 13.
        Certain Relationships and Related Transactions, and Director Independence.



On November 13, 2007, a total of 6,000,000 shares of common stock were issued to our sole officer and director, all of which are restricted securities, as defined in Rule 144 of the Rules and Regulations of the SEC promulgated under the Securities Act. On March 10, 2009, such shares of common stock were subject to a 10 for 1 forward stock split, resulting in Mr. Sanders owning approximately 60,000,000 shares of common stock. Under Rule 144, the shares can be publicly sold, subject to volume restrictions and restrictions on the manner of sale, commencing one year after their acquisition. Under Rule 144, a shareholder can sell up to 1% of total outstanding shares every three months in brokers transactions. Shares purchased in this offering, which will be immediately resalable, and sales of all of our other shares after applicable restrictions expire, could have a depressive effect on the market price,
if any, of our common stock and the shares we are offering.



Director Independence



We are not subject to listing requirements of any national securities exchange or national securities association and, as a result, we are not at this time required to have our board comprised of a majority of independent directors. We do not believe that any of our directors currently meet the definition of independent as promulgated by the rules and regulations of the American Stock Exchange.




Item 14.
        Principal Accounting Fees and Services.



Our principal independent accountant is Moore & Associates, Chartered Accountants and Advisors. Their pre-approved fees billed to the Company are set forth below:




Fiscal Year Ended
May 31, 2009
        
        Period From
November 13, 2007
(Inception) to
May 31, 2008Audit Fees
        
        $3,500
        
        $3,000Audit Related Fees
        
        $4,500
        
        $0Tax Fees
        
        $0
        
        $0All Other Fees
        
        $0
        
        $0



As of May 31, 2009, the Company did not have a formal documented pre-approval policy for the fees of the principal accountant. The Company does not have an audit committee. The percentage of hours expended on the principal accountants engagement to audit our financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountants full-time, permanent employees was 0%.



17

PART IV




Item 15.
        Exhibits, Financial Statement Schedules.




Exhibit
        
        Description3.1
        
        Certificate of Incorporation of Registrant (filed as Exhibit 3.1 to Registration Statement, filed with the Securities and Exchange Commission on July 30, 2008, file no. 333-151909)3.2
        
        By-Laws of Registrant (filed as Exhibit 3.2 to Registration Statement, filed with the Securities and Exchange Commission on July 30, 2008, file no. 333-151909)4.1
        
        Form of Stock Certificate (filed as Exhibit 4.1 to Registration Statement, filed with the Securities and Exchange Commission on July 30, 2008, file no. 333-151909)10.1
        
        Subscription Agreement (filed as Exhibit 99.1 to Registration Statement, filed with the Securities and Exchange Commission on July 30, 2008, file no. 333-151909)23.1
        
        Consent of Moore & Associates, Chartered Accountants and Advisors (filed herewith).31.1
        
        Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 (filed herewith).32.1
        
        Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley (filed herewith).



18

SIGNATURES



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



PASHMINADEPOT.COM, INC.



Date:  July 22, 2009


By:
        /s/ Edward Sanders



Name:
        Edward Sanders



Title:
        President, Chairman, and Director


(Principal Executive, Financial and Accounting Officer)



In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



Date:  July 22, 2009


By:
        /s/ Edward Sanders



Name:
        Edward Sanders



Title:
        President and Director


(Principal Executive, Financial and Accounting Officer)



19