----

----

|  X   | Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934. For the quarterly period ended March 31, 2011 or |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------|

|        | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the transition period from _________ to _________. |
|--------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

|  Delaware                               |  94-1069729                  |
|----------------------------------------------|-----------------------------------|
| (State of incorporation)                     | (IRS Employer Identification No.) |
|  2064 Highway 116 North, Sebastopol, CA |  95472-2662                  |
| (Address of principal executive offices)     | (Zip Code)                        |

----

| PART I. FINANCIAL INFORMATION                                                                                                                                                                  |                                                                                                                                                                            |      |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------|--------|
|                                                                                                                                                                                           |                                                                                                                                                                            |      |   |   |
| Item 1.                                                                                                                                                                                        | Condensed Financial Statements                                                                                                                                                  |      |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
|                                                                                                                                                                                 | Condensed Balance Sheets as of March 31, 2011 (unaudited) and                                                                                                                   |      |
|                                                                                                                                                                                           |    June 30, 2010   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |  3   |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
|                                                                                                                                                                                           | Condensed Statements of Income - For The Nine and Three months ended                                                                                                            |      |
|                                                                                                                                                                                           |     March 31, 2011 and 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 |   4  |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
|                                                                                                                                                                                           | Condensed Statements of Cash Flows - For The Nine months ended                                                                                                                  |      |
|                                                                                                                                                                                           |    June 30, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .           |  5   |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
|                                                                                                                                                                                           | Notes to Condensed Financial Statements (unaudited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                                        |  6   |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 2.                                                                                                                                                                                        | Management's Discussion and Analysis of Financial Condition                                                                                                                     |      |
|                                                                                                                                                                                           |  and Results of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                            |  12  |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 4.                                                                                                                                                                                        | Controls and Procedures  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                 |  16  |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| PART II. OTHER INFORMATION    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                         |  17                                                                                                                                                                        |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 1.                                                                                                                                                                                        | Legal Proceedings   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       |   17 |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 1A.                                                                                                                                                                                       | Risk Factors    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            | 17        |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 2.                                                                                                                                                                                        | Unregistered Sales of Equity Securities and Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . .                                                            |  17  |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 3.                                                                                                                                                                                        | Defaults Upon Senior Securities   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                 |  17  |
|                                                                                                                                                                                           |                                                                                                                                                                       |      |
| Item 4.                                                                                                                                                                                        | (Removed and Reserved)   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                              | 17        |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 5.                                                                                                                                                                                        | Other Information    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 |  17  |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
| Item 6.                                                                                                                                                                                        | Exhibits    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .        |  18  |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |   |
|  SIGNATURES    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |         19                                                                                                                                   |      |
|                                                                                                                                                                                           |                                                                                                                                                                            |      |
|  EXHIBIT INDEX    . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  |         20                                                                                                                              |      |

----

|                                                                                                                                                        |   | March 31, 2011 (unaudited) |   |   | June 30, 2010 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|--------|---------------|--------|
| ASSETS                                                                                                                                                      |   |                       |   |   |          |   |
| CURRENT ASSETS:                                                                                                                                             |   |                       |   |   |          |   |
| Cash and cash equivalents                                                                                                                                   |   | $                          | 2,704  |   |          | $      | 2,243 |   |
| Accounts receivable, net of allowance for doubtful accounts of $8 and $25                                                                                   |   |                       | 17     |   |          |   | 41 |   |
| Other receivables                                                                                                                                           |   |                       | -      |   |          |   | 7 |   |
| Dividend claims receivable                                                                                                                                  |   |                       | -      |   |          |   | 33 |   |
| Prepaid income taxes                                                                                                                                        |   |                       | 50     |   |          |   | 26 |   |
| Prepaid expenses and other assets                                                                                                                           |   |                       | 39     |   |          |   | 153 |   |
| Deferred income taxes, net                                                                                                                                  |   |                       | 40     |   |          |   | 47 |   |
| Total current assets                                                                                                                                        |   |                       | 2,850  |   |          |   | 2,550 |   |
|    RENTAL PROPERTY, net                                                                                                                      |   |                       | 806    |   |          |   | 906 |   |
|    DEFERRED INCOME TAXES, net                                                                                                                |   |                       | 292    |   |          |   | 268 |   |
|    PREPAID COMMISSIONS AND OTHER ASSETS                                                                                                      |   |                       | 91     |   |          |   | 129 |   |
| Total assets                                                                                                                                                |   | $                          | 4,039  |   |          | $      | 3,853 |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                  |   |                       |   |   |          |   |   |   |
| CURRENT LIABILITIES:                                                                                                                                        |   |                       |   |   |          |   |   |   |
| Accounts payable                                                                                                                                            |   | $                          | 175    |   |          | $      | 50 |   |
| Accrued payroll and related liabilities                                                                                                                     |   |                       | 32     |   |          |   | 109 |   |
| Current note payable                                                                                                                                        |   |                       | 250    |   |          |   | 2,500 |   |
| Accrued expenses                                                                                                                                            |   |                       | 10     |   |          |   | 13 |   |
| Unearned rents                                                                                                                                              |   |                       | 71     |   |          |   | 46 |   |
| Accrued dividends payable                                                                                                                                   |   |                       | -      |   |          |   | 33 |   |
| Total current liabilities                                                                                                                                   |   |                       | 538    |   |          |   | 2,751 |   |
|                                                                                                                                                        |   |                       |   |   |          |   |   |   |
| LONG TERM LIABILITIES:                                                                                                                                      |   |                       |   |   |          |   |   |   |
| Tenant deposits                                                                                                                                             |   |                       | 326    |   |          |   | 329 |   |
| Note payable                                                                                                                                                |   |                       | 2,188  |   |          |   | - |   |
|                Total long term liabilities                                       |   |                       | 2,514  |   |          |   | 329 |   |
|                        Total liabilities |   |                       | 3,052  |   |          |   | 3,080 |   |
|                                                                                                                                                        |   |                       |   |   |          |   |   |   |
| SHAREHOLDERS’ EQUITY:                                                                                                                                 |   |                       |   |   |          |   |   |   |
| Preferred stock: 2,500 shares authorized; no shares issued and outstanding                                                                                  |   |                       | -      |   |          |   | - |   |
| Common stock: 5,000 shares authorized, par value $0.0001; 1,251 shares issued and outstanding at March 31, 2011 and June 30, 2010                      |   |                       | -      |   |          |   | - |   |
| Retained earnings                                                                                                                                           |   |                       | 987    |   |          |   | 773 |   |
| Total shareholders’ equity                                                                                                                            |   |                       | 987    |   |          |   | 773 |   |
| Total liabilities and shareholders’ equity                                                                                                            |   | $                          | 4,039  |   |          | $      | 3,853 |   |

----

|                                                                                    |   | Nine Months    |   |   | Three Months   |   |
|-----------------------------------------------------------------------------------------|--------|----------------|--------|--------|----------------|--------|
|                                                                                    |   | Ended March 31 |   |   | Ended March 31 |   |
|                                                                                    |   | 2011           |   |   | 2010           |   |   | 2011 |   |   | 2010 |   |
| RENTAL REVENUE -NET                                                                |   | $              | 1,873  |   |           | $      | 2,061 |   |   | $ | 613 |   |   | $ | 602 |   |
| RENTAL SETTLEMENT INCOME                                                                |   |           | 18     |   |           |   | - |   |   |   | 6 |   |   |   | - |   |
| TENANT REIMBURSEMENTS                                                                   |   |           | 468    |   |           |   | 506 |   |   |   | 102 |   |   |   | 125 |   |
| TOTAL REVENUE                                                                           |   |           | 2,359  |   |           |   | 2,567 |   |   |   | 721 |   |   |   | 727 |   |
|                                                                                    |   |           |   |   |           |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING COSTS                                                                         |   |           | 1,925  |   |           |   | 1,822 |   |   |   | 642 |   |   |   | 550 |   |
| OPERATING COSTS – RELATED       PARTY EXPENSES |   |           | 38     |   |           |   | 4 |   |   |   | 35 |   |   |   | 2 |   |
| TOTAL OPERATING COSTS                                                                   |   |           | 1,963  |   |           |   | 1,826 |   |   |   | 677 |   |   |   | 552 |   |
| OPERATING INCOME                                                                        |   |           | 396    |   |           |   | 741 |   |   |   | 44 |   |   |   | 175 |   |
|                                                                                    |   |           |   |   |           |   |   |   |   |   |   |   |   |   |   |   |
| INTEREST EXPENSE                                                                        |   |           | (51    | )      |           |   | (48 | ) |   |   | (19 | ) |   |   | (17 | ) |
| INTEREST INCOME                                                                         |   |           | 9      |   |           |   | 2 |   |   |   | 1 |   |   |   | 1 |   |
| OTHER INCOME AND (EXPENSE)                                                              |   |           | -      |   |           |   | (1 | ) |   |   | - |   |   |   | - |   |
| INCOME BEFORE TAXES                                                                     |   |           | 354    |   |           |   | 694 |   |   |   | 26 |   |   |   | 159 |   |
| INCOME TAX PROVISION                                                                    |   |           | 140    |   |           |   | 277 |   |   |   | 10 |   |   |   | 63 |   |
| NET INCOME                                                                              |   | $              | 214    |   |           | $      | 417 |   |   | $ | 16 |   |   | $ | 96 |   |
|                                                                                    |   |           |   |   |           |   |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE COMMON SHARES AND EQUIVALENTS:                                         |   |           |   |   |           |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                   |   |           | 1,251  |   |           |   | 1,251 |   |   |   | 1,251 |   |   |   | 1,251 |   |
| Diluted                                                                                 |   |           | 1,252  |   |           |   | 1,253 |   |   |   | 1,253 |   |   |   | 1,253 |   |
|                                                                                    |   |           |   |   |           |   |   |   |   |   |   |   |   |   |   |   |
| INCOME PER COMMON SHARE:                                                                |
| Basic                                                                                   |   | $              | 0.17   |   |           | $      | 0.33 |   |   | $ | 0.01 |   |   | $ | 0.08 |   |
| Diluted                                                                                 |   | $              | 0.17   |   |           | $      | 0.33 |   |   | $ | 0.01 |   |   | $ | 0.08 |   |

----

|                                                                              |   | Nine Months Ended March 31, |   |
|-----------------------------------------------------------------------------------|--------|-----------------------------|--------|
|                                                                              |   | 2011                        |   |   | 2010 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                             |   |                        |   |   |   |   |
| Net income                                                                        |   | $                           | 214    |   |   | $ | 417 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                        |   |   |   |   |   |   |
| Depreciation and amortization expense                                             |   |                        | 117    |   |   |   | 124 |   |
| Deferred income tax (benefit) expense                                             |   |                        | (17    | ) |   |   | 40 |   |
| Changes in assets and liabilities:                                                |   |                        |   |   |   |   |   |   |
| Net change in accounts receivable                                                 |   |                        | 24     |   |   |   | (83 | ) |
| Other receivables                                                                 |   |                        | 7      |   |   |   | 6 |   |
| Prepaid income taxes                                                              |   |                        | (24    | ) |   |   | (11 | ) |
| Prepaid expenses and other assets                                                 |   |                        | 114    |   |   |   | 112 |   |
| Prepaid commissions and other assets                                              |   |                        | 54     |   |   |   | 46 |   |
| Accounts payable                                                                  |   |                        | 125    |   |   |   | 79 |   |
| Accrued payroll and related liabilities                                           |   |                        | (77    | ) |   |   | (280 | ) |
| Accrued expenses                                                             |   |                        | (3     | ) |   |   | (1 | ) |
| Unearned rents                                                                    |   |                        | 25     |   |   |   | (19 | ) |
| Tenant deposits                                                                   |   |                        | (3     | ) |   |   | 3 |   |
| Net cash provided by operating activities                                         |   |                        | 556    |   |   |   | 433 |   |
|                                                                              |   |                        |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                             |   |                        |   |   |   |   |   |   |
| Capital expenditures                                                              |   |                        | (16    | ) |   |   | - |   |
| Net cash used for investing activities                                            |   |                        | (16    | ) |   |   | - |   |
| CASH FLOWS FROM FINANCING ACTIVITES                                               |   |                        |   |   |   |   |   |   |
| Principal payments on debt                                                        |   |                        | (62    | ) |   |   | - |   |
| Loan fees paid                                                                    |   |                        | (17    | ) |   |   | - |   |
| Net cash used for financing activities                                            |   |                        | (79    | ) |   |   | - |   |
|  NET INCREASE  IN CASH AND CASH EQUIVALENTS                        |   |                        | 461    |   |   |   | 433 |   |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                  |   |                        | 2,243  |   |   |   | 1,830 |   |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD                                        |   | $                           | 2,704  |   |   | $ | 2,263 |   |

| Supplemental Cash Flow Information        |   |
|-------------------------------------------|--------|
|                                      |   | Nine Months Ended March 31, |   |
|                                      |   | 2011 |   |   | 2010 |   |
| Interest paid                             |   | $ | 50 |   |   | $ | 48 |   |
| Taxes paid                                |   | $ | 182 |   |   | $ | 250 |   |
| Non-cash transactions                     |   |
| Termination of dividend claims receivable |   | $ | 33 |   |   |   |   |   |
| Termination of accrued dividends payable  |   | $ | (33) |   |   |   |   |   |

----

| (1) | Persuasive evidence of contractual arrangement exists (i.e. signed contract by both parties);                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Delivery has occurred or services have been rendered (i.e. tenant’s contractual commencement date has occurred);                |
| (3) | The seller’s price to the buyer is fixed or determinable (i.e. lease terms and rates are specified in the signed contract); and |
| (4) | Collectability is reasonably assured (i.e. if collectible is considered unlikely, the Company does not recognize revenue).            |

----

| Valuation allowance for uncollectible accounts (amounts in thousands) |   |
|-----------------------------------------------------------------------|--------|
|                                                                  |   | March 31, 2011 |   |   | June 30, 2010 |   |
| Balance at beginning of period                                        |   | $ | 25 |   |   | $ | 19 |   |
| Charged to costs and expenses                                         |   |   | - |   |   |   | 57 |   |
| Deductions                                                            |   |   | (17 | ) |   |   | (51 | ) |
| Balance at end of period                                              |   | $ | 8 |   |   | $ | 25 |   |

----

| ·   | Level 1: Defined as observable inputs, such as quoted prices in active markets for identical assets. |
|--------------------|------------------------------------------------------------------------------------------------------|

| ·   | Level 2: Defined as observable inputs other than Level 1 prices. This includes quoted prices for similar assets or liabilities in an active market, quoted prices for identical assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Level 3: Defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| Ended          | Description      |   | Level 1 |      |   | Assets at Fair Value |   |
|----------------|------------------|--------|---------|-----------|--------|----------------------|--------|
| March 31, 2011 | Cash equivalents |   | $       | 1,892,000 |   |                 | $      | 1,892,000 |   |
| June 30, 2010  | Cash equivalents |   | $       | 1,692,000 |   |                 | $      | 1,692,000 |   |

----

|          |   | Scheduled principal payments, year ending June 30 |   |
|---------------|--------|---------------------------------------------------|--------|
|          |   | 2011                                              |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |
|          |   |                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Note payable: |   | $                                                 | 63,000 |   |   | $ | 250,000 |   |   | $ | 250,000 |   |   | $ | 250,000 |   |   | $ | 1,625,000 |   |

----

|                        |   | Options |   |   | Weighted Average Exercise Price |   |   | Weighted Average Remaining Contractual Years |   |   | Aggregate Intrinsic Value(in thousands) |   |
|-----------------------------|--------|---------|--------|--------|---------------------------------|--------|--------|----------------------------------------------|--------|--------|-----------------------------------------|--------|
| Balance, June 30, 2010      |   |    | 21,000 |   |                            | $      | 8.02   |                                         |   |   |                                    |   |   |   |
| Granted                     |   |    | -      |   |                            |   | -      |                                         |   |   |                                    |   |   |   |
| Exercised                   |   |    | -      |   |                            |   | -      |                                         |   |   |                                    |   |   |   |
| Cancelled                   |   |    | -      |   |                            |   | -      |                                         |   |   |                                    |   |   |   |
| Balance, March 31, 2011     |   |    | 21,000 |   |                            | $      | 8.02   |                                         |   |   | 6.67                                    |   |   | $ | 6 |   |
| Exercisable, March 31, 2011 |   |    | 21,000 |   |                            | $      | 8.02   |                                         |   |   | 6.67                                    |   |   | $ | 6 |   |

|           |       |   | Options outstanding |   |   | Options exercisable |   |
|----------------|------------|--------|---------------------|--------|--------|---------------------|--------|
|           |       |   |                |   |   | Weighted-           |   |   |   |   |   |   |   |   |   |   |
|           |       |   |                |   |   | Average             |   |   | Weighted- |   |   |   |   |   | Weighted- |   |
|           |       |   |                |   |   | Remaining           |   |   | Average |   |   |   |   |   | Average |   |
|           |       |   | Number of      |   |   | Contractual         |   |   | Exercise |   |   | Number of |   |   | Exercise |   |
| Exercise Price |       |   | Shares              |   |   | Life (years)        |   |   | Price |   |   | Shares |   |   | Price |   |
| $              | 5.00-$7.00 |   |                |   | 16,000 |                |   |   | 7.15 |   |   | $ | 6.10 |   |   |   | 16,000 |   |   | $ | 6.10 |   |
| Over $10.00    |       |   |                | 5,000  |   |                |   | 5.71 |   |   | $ | 13.05 |   |   |   | 5,000 |   |   | $ | 13.05 |   |
| Total          |       |   |                | 21,000 |   |                |   | 6.67 |   |   | $ | 8.02 |   |   |   | 21,000 |   |   | $ | 8.02 |   |

| Year EndingJune 30,     |   | Amount  |       |
|-------------------------|--------|---------|------------|
| 2011                    |   |  $ | 637,000    |   |
| 2012                    |   |    | 2,222,000  |   |
| 2013                    |   |    | 1,499,000  |   |
| 2014                    |   |    | 842,000    |   |
| 2015                    |   |    | 753,000    |   |
| Thereafter through 2028 |   |    | 5,805,000  |   |
| Total                   |   | $       | 11,758,000 |   |

----

----

| •   | statements regarding the expected completion of the acquisition by Stapleton Acquisition Company, including the Merger (as defined below) and the Merger Agreement (as defined below); |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | volatility of rental markets, including reductions in prices received for our rental properties; |
|---------------------|--------------------------------------------------------------------------------------------------|

| •   | our ability to fill vacant leasable space; |
|---------------------|--------------------------------------------|

| •   | our future cash flow, liquidity and financial position; |
|---------------------|---------------------------------------------------------|

| •   | the ability of our tenants to make rental payments; |
|---------------------|-----------------------------------------------------|

| •   | the amount, nature and timing of our capital expenditures; |
|---------------------|------------------------------------------------------------|

| •   | the cost of completing the Phase I Creek Study and other assessments for the wastewater permitting; |
|---------------------|-----------------------------------------------------------------------------------------------------|

| •   | a lack of available capital and financing; |
|---------------------|--------------------------------------------|

| •   | our operating costs and other expenses; |
|---------------------|-----------------------------------------|

| •   | the impact and costs related to compliance with or changes in laws or regulations governing our operations; |
|---------------------|-------------------------------------------------------------------------------------------------------------|

| •   | environmental liabilities and compliance with laws regulating such liabilities; |
|---------------------|---------------------------------------------------------------------------------|

| •   | risks related to our level of indebtedness; and |
|---------------------|-------------------------------------------------|

| •   | other factors, many of which are beyond our control. |
|---------------------|------------------------------------------------------|

----

----

----

----

| ·   | our disclosure controls and procedures were effective as of the end of the period covered by this report to ensure that information required to be disclosed by us in the reports we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | our disclosure controls and procedures were effective as of the end of the period covered by this report to ensure that information required to be disclosed by us in the reports we file or submit under the Securities Exchange Act of 1934, as amended, was accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| 10.6(6) | Consulting Agreement effective as of January 1, 2011 between SonomaWest Holdings, Inc. and Rocky Mountain LLC. |
|---------|----------------------------------------------------------------------------------------------------------------|

| 31.1 | Chief Executive Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* |
|------|-------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Chief Financial Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* |
|------|-------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Chief Executive Officer and Chief Financial Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 + |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                                                                                                                                                |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)    |           Incorporated by reference to Exhibit 10.5 to the registrant’s Schedule 14D-9, filed on April 15, 2011. |

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| Exhibit No.  | Document Description |
|-------------------|----------------------|

| 10.6(6) | Consulting Agreement effective as of January 1, 2011 between SonomaWest Holdings, Inc. and Rocky Mountain LLC. |
|---------|----------------------------------------------------------------------------------------------------------------|

| 31.1 | Chief Executive Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* |
|------|-------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Chief Financial Officer Certification of Periodic Financial Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002* |
|------|-------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Chief Executive Officer and Chief Financial Officer Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 + |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |                                                                                                                                                                |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (6)    |           Incorporated by reference to Exhibit 10.5 to the registrant’s Schedule 14D-9, filed on April 15, 2011. |

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