UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                  For the quarterly period ended June 30, 2010
                                       or

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

              FOR THE TRANSITION FROM ____________ TO ____________

                         Commission File Number: 0-32323


                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
             (Exact name of registrant as specified in its charter)

               Nevada                                             20-1217659
    (State or other Jurisdiction of                           (I.R.S. Employer
     Incorporation or Organization)                          Identification No.)

   17800 Castleton Street, Suite 638
          City of Industry, CA                                      91748
(Address of principal executive offices)                         (Zip code)

                  Registrant's telephone number: (626) 581-8500

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted  electronically  and
posted on its  Website,  if any,  every  Interactive  Data File  required  to be
submitted and posted pursuant to Rule 405 of Regulation S-T (Sec.232.405 of this
chapter)  during the  preceding 12 months (or for such  shorter  period that the
registrant was required to submit and post such files). Yes [ ] No [ ]

Indicate by check mark whether the registrant is a large  accelerated  filer, an
accelerated filer, a non-accelerated  filer, or a smaller reporting company. See
the definitions of "large accelerated  filer,"  "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]                        Accelerated filer [ ]
Non-accelerated filer [ ]                          Smaller reporting company [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                         DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether the  registrant  filed all  documents and reports
required  to be filed by Section 12, 13 or 15(d) of the  Exchange  Act after the
distribution of securities under a plan confirmed by a court. Yes [ ] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable  date:  As of August 9, 2010,  there were
3,641,902,942  outstanding shares of the Registrant's Common Stock, $0.00001 par
value.
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                               REPORT ON FORM 10-Q

                       FOR THE QUARTER ENDED JUNE 30, 2010

                                      INDEX

                                                                            Page
                                                                            ----
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements..............................................    3

         Condensed Consolidated Balance Sheets.............................    3

         Condensed Consolidated Statements of Operations...................    5

         Condensed Consolidated Statements of Cash Flows...................    7

         Notes.............................................................    9

Item 2.  Management's Discussion and Analysis of Financial Condition and
         Results of Operations.............................................   17

Item 3.  Quantitative and Qualitative Disclosures about Market Risk........   20

Item 4.  Controls and Procedures...........................................   21

PART II - OTHER INFORMATION

Item 1.  Legal Proceedings.................................................   24

Item 1A. Risk Factors......................................................   24

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds.......   24

Item 3.  Defaults Upon Senior Securities...................................   24

Item 4.  (Removed and Reserved)............................................   24

Item 5.  Other Information.................................................   24

Item 6.  Exhibits..........................................................   25

SIGNATURES.................................................................   28

                                       2
<PAGE>
                         PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONDENSED CONSOLIDATED BALANCE SHEETS


                                                  June 30,          December 31,
                                                    2010               2009
                                                  --------           --------
                                                 (unaudited)
                       ASSETS
Cash                                              $ 53,725           $ 12,514
Other current assets                                 1,011              1,011
                                                  --------           --------
     Total current assets                           54,736             13,525
                                                  --------           --------

Other assets                                         2,000              2,000
                                                  --------           --------

      Total assets                                $ 56,736           $ 15,525
                                                  ========           ========


     See accompanying notes to condensed consolidated financial statements


                                       3
<PAGE>
                INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (CONTINUED)

<TABLE>
<CAPTION>
                                                                                June 30,             December 31,
                                                                                  2010                   2009
                                                                              ------------           ------------
                                                                               (unaudited)
<S>                                                                           <C>                    <C>
                  LIABILITIES & STOCKHOLDERS' (DEFICIT) EQUITY

LIABILITIES
  Accounts payable and accrued expenses                                       $    311,407           $    305,897
  Accrued expenses - related parties                                               283,548                207,321
  Accrued pension                                                                    1,708                     --
  Derivative liability                                                           1,294,781              2,105,829
  Investor deposit                                                                 230,000                     --
  Notes payable                                                                    145,500                145,175
  Notes payable to shareholders                                                    588,314                668,411
                                                                              ------------           ------------
      Total current liabilities                                                  2,855,258              3,432,633
                                                                              ------------           ------------

COMMITMENTS & CONTINGENCIES                                                             --                     --

STOCKHOLDERS' (DEFICIT) EQUITY
  Preferred A stock, $250 par value, 10,000 shares authorized;
   96 shares issued and outstanding                                                 24,000                 24,000
  Preferred C stock, $.001 par value, 3,000,000 shares authorized;
   2,000,000 and 1,000,000 shares issued and outstanding                             2,000                  2,000
  Preferred D stock,  $.001 par value, 10,000,000 shares authorized;
   162,860 and 207,500 shares issued and outstanding                                   163                    208
  Preferred E stock, $.001 par value, 50,000,000 shares authorized;
   30,800 shares issued and outstanding                                                 25                     25
  Preferred F stock, $.001 par value, 3,000,000 shares authorized;
   20,000 and 0 shares issued and outstanding                                           20                     20
  Common stock; $.00001 par value, 3,950,000,000 shares authorized;
   3,410,817,981 and 2,307,177,093 issued and outstanding                           34,108                 23,072
  Additional paid-in capital                                                     9,971,634              9,882,383
  Accumulated deficit - Prior to reentering development stage                   (5,534,336)            (5,534,336)
  Accumulated deficit - From inception of reentering development
   stage on 4/1/2007                                                            (7,293,281)            (7,813,920)
  Other comprehensive income / (loss)                                               (2,855)                  (560)
  Noncontrolling interest                                                               --                     --
                                                                              ------------           ------------
Total stockholders' (deficit) equity                                            (2,798,522)            (3,417,108)
                                                                              ------------           ------------

Total liabilities and stockholders' (deficit) equity                          $     56,736           $     15,525
                                                                              ============           ============
</TABLE>


      See accompanying notes to condensed consolidated financial statements

                                       4
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
         (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                                Cumulative Since
                                                                                                                  Re-entering
                                                                                                                  Development
                                                 Three Months Ended June 30,       Six Months Ended June 30,         Stage
                                                ----------------------------     ----------------------------      4/01/2007 -
                                                    2010            2009             2010             2009         6/30/2010
                                                ------------    ------------     ------------     ------------    ------------
<S>                                            <C>              <C>            <C>              <C>             <C>
Revenues                                        $         --    $         --     $         --     $         --    $         --
                                                ------------    ------------     ------------     ------------    ------------
Operating expenses:
  Selling, general and administrative                123,508         128,956          242,078          223,955       1,990,548
  Depreciation and amortization                           --              --               --               --       1,306,935
                                                ------------    ------------     ------------     ------------    ------------
Total operating expenses                             123,508         128,956          242,078          223,955       3,297,483
                                                ------------    ------------     ------------     ------------    ------------

Operating loss                                      (123,508)       (128,956)        (242,078)        (223,955)     (3,297,483)
                                                ------------    ------------     ------------     ------------    ------------
Other income (expense):
  Interest income                                         --              --               --               --             374
  Interest expense                                   (19,352)       (363,467)         (48,377)        (561,929)     (2,546,700)
  Loss on settlement                                      --              --               --               --         (23,500)
  Loss on investment                                      --              --               --               --        (115,750)
  Gain/(Loss) on extinguishment of debt                   --         (26,275)              --          (56,275)         11,297
  Gain on disposal of assets                              --              --               --               --           2,565
  Change in fair value of derivative liability        74,055       1,329,177          811,049        1,409,932      (1,294,780)
  Minority interest in net loss of subsidiary             --              --               --               --          15,000
  Other income (expense)                                  --              --               45               --           3,855
                                                ------------    ------------     ------------     ------------    ------------
Total other income (expense)                          54,703         939,435          762,717          791,728      (3,947,639)
                                                ------------    ------------     ------------     ------------    ------------

Income/(Loss) from continuing operations        $    (68,805)   $    810,479     $    520,639     $    567,773    $ (7,245,122)
                                                ------------    ------------     ------------     ------------    ------------
</TABLE>


      See accompanying notes to condensed consolidated financial statements

                                       5
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                                   (CONTINUED)

<TABLE>
<CAPTION>
                                                                                                                  Cumulative Since
                                                                                                                    Re-entering
                                                                                                                    Development
                                                Three Months Ended June 30,         Six Months Ended June 30,          Stage
                                             --------------------------------   -------------------------------      4/01/2007 -
                                                  2010              2009             2010             2009           6/30/2010
                                             --------------    --------------   --------------   --------------   --------------
<S>                                         <C>                <C>              <C>              <C>              <C>
Income/(Loss) from continuing operations     $      (68,805)   $      810,479   $      520,639   $      567,773   $   (7,245,122)
                                             --------------    --------------   --------------   --------------   --------------
Discontinued operations:
  Income (loss) from operations of
   discontinued business                                 --                --               --               --          (20,063)
  Income (loss) on disposal of assets                    --                --               --               --           61,058
                                             --------------    --------------   --------------   --------------   --------------
Income (loss) on discontinued operations                 --                --               --               --           40,995
                                             --------------    --------------   --------------   --------------   --------------
Net Income/(loss)                                   (68,805)          810,479          520,639          567,773       (7,204,127)

Preferred dividend                                       --                --               --               --          (89,154)
                                             --------------    --------------   --------------   --------------   --------------
Net Income/(loss) attributable to common
 shareholders                                       (68,805)          810,479          520,639          567,773       (7,293,281)
                                             --------------    --------------   --------------   --------------   --------------
Other comprehensive income
  Foreign currency translation                       (2,306)               (6)          (2,295)             (67)          (2,855)
                                             --------------    --------------   --------------   --------------   --------------
Comprehensive income/(loss)                  $      (71,111)   $      810,473   $      518,344   $      567,706   $   (7,296,136)
                                             ==============    ==============   ==============   ==============   ==============

Net income/(loss) per common share -
 basic and diluted
   Continuing operations                     $        (0.00)   $         0.00   $         0.00   $         0.00
                                             ==============    ==============   ==============   ==============
   Discontinued operations                   $           --    $           --   $           --   $           --
                                             ==============    ==============   ==============   ==============
   Net Income (loss) per common share        $        (0.00)   $         0.00   $         0.00   $         0.00
                                             ==============    ==============   ==============   ==============
Weighted average common shares outstanding:
   Basic                                        340,829,865       179,188,651      340,829,865    1,066,138,627
                                             ==============    ==============   ==============   ==============
   Diluted                                    3,950,000,000     1,950,000,000    3,950,000,000    1,950,000,000
                                             ==============    ==============   ==============   ==============
</TABLE>


      See accompanying notes to condensed consolidated financial statements

                                       6
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                    Cumulative Since
                                                                                                      Re-entering
                                                                                                      Development
                                                                      Six Months Ended June 30,          Stage
                                                                    ----------------------------       4/01/2007 -
                                                                        2010            2009           6/30/2010
                                                                    ------------    ------------     ------------
<S>                                                                 <C>             <C>              <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income/(loss) from continuing operations                      $    520,639    $    567,773     $ (7,293,283)
  Adjustments to reconcile net income (loss) to net
   cash used by operating activities:
     Depreciation                                                             --              --            3,660
     Impairment of goodwill                                                   --              --        1,303,277
     Amortization of debt discounts                                           --              --          128,933
     Loss/(Gain) on extinguishment of debt                                    --          56,275          (70,843)
     Loss on Investments                                                      --              --          115,750
     Interest expense associated with beneficial
      conversion feature                                                   2,788         512,693        2,165,375
     Change in fair value of derivative liability                       (811,049)     (1,409,932)       1,294,780
     Director stock based compensation                                        --              --          100,000
     Common stock issued for services                                         --              --          394,519
     Common stock issued for settlement                                       --              --           13,500
     Gain on disposal of equipment                                            --              --           (2,565)
     Minority interest in net loss of subsidiary                              --              --          (15,000)
  Changes in assets and liabilities:
     Prepaid expenses and other assets                                        --           1,863              529
     Accounts payable and accrued expenses                               101,128         167,321          740,847
                                                                    ------------    ------------     ------------
          Net cash used in continuing operations                        (188,789)       (104,007)      (1,120,521)
          Net income (loss) from discontinued operations                      --              --           40,995
          Net cash used in discontinued operations                            --              --          (83,796)
                                                                    ------------    ------------     ------------
          Net cash used in operating activities                         (188,789)       (104,007)      (1,163,322)
                                                                    ------------    ------------     ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Deposit on investment                                                       --              --          (80,750)
                                                                    ------------    ------------     ------------
          Net cash used in continuing operations                              --              --          (80,750)
                                                                    ------------    ------------     ------------
          Net cash used in investing activities                     $         --    $         --     $    (80,750)
                                                                    ------------    ------------     ------------
</TABLE>


      See accompanying notes to condensed consolidated financial statements

                                       7
<PAGE>
                INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
           CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                                   (CONTINUED)

<TABLE>
<CAPTION>
                                                                                                    Cumulative Since
                                                                                                      Re-entering
                                                                                                      Development
                                                                      Six Months Ended June 30,          Stage
                                                                    ----------------------------       4/01/2007 -
                                                                        2010            2009           6/30/2010
                                                                    ------------    ------------     ------------
<S>                                                                 <C>             <C>              <C>
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from related party notes payable                         $       --      $       --       $   30,000
  Proceeds from notes payable                                               --              --          628,876
  Proceeds from line of credit                                           2,802              --
  Proceeds from investor deposit                                       230,000          50,000          280,000
  Repayments of notes payable                                               --              --          (34,448)
  Proceeds from issuance of preferred stock                                 --          50,000          144,301
  Proceeds from issuance of common stock                                    --              --          180,464
  Proceeds from issuance of common stock for asset purchase                 --              --            6,206
  Proceeds from exercise of stock options                                   --              --            4,375
                                                                    ----------      ----------       ----------
          Net cash provided by financing activities                    230,000         102,802        1,239,774
                                                                    ----------      ----------       ----------

Effect of exchange rate changes on cash                                 (2,295)            (67)          (2,855)

CASH AND CASH EQUIVALENTS:
  Increase (decrease) in cash                                           41,211          (1,272)          (7,153)
  CASH, beginning of period                                             12,514           1,567           60,878
                                                                    ----------      ----------       ----------
CASH, end of period                                                 $   53,725      $      295       $   53,725
                                                                    ==========      ==========       ==========

SUPPLEMENTAL DISCLOSURES:
  Tax paid                                                          $       --      $       --       $    4,800
                                                                    ==========      ==========       ==========
  Cash paid for interest                                            $      235      $       57       $    1,266
                                                                    ==========      ==========       ==========

NON-CASH DISCONTINUED OPERATION ACTIVITIES:
  Employee stock based compensation                                 $       --      $       --       $   30,698
  Issuance of common stock for debt                                 $       --      $   38,668       $  389,360

NON-CASH FINANCING AND INVESTING ACTIVITIES:
  Issuance of note for accrued expenses                             $       --      $       --       $  201,026
  Issuance of common stock by conversion of preferred stock D       $   44,640      $       --       $  120,990
  Issuance of common stock for payment of debt                      $  100,243      $   76,876       $  749,381
  Issuance of common stock for settlement                           $       --      $       --       $   13,500
  Issuance of Preferred Stock for director fees                     $       --      $       --       $  400,000
  Cancelation of Rosetop project and related Preferred E Stock      $       --      $       --       $ (315,000)
  Issuance of common stock for Purchase of Company                  $       --      $       --       $1,300,000
</TABLE>


      See accompanying notes to condensed consolidated financial statements

                                       8
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2010


NOTE 1: ORGANIZATION, BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Organization

International  Building  Technologies Group, Inc. (OTCBB:  INBG) (the "Company")
has  four  total   subsidiaries,   two  active   subsidiaries  and  two  dormant
subsidiaries.

Active Subsidiaries:

     *    International  Building  Technologies  Co., Ltd. ("IBT Hong Kong") - a
          Hong Kong Corporation with equity interest of 100%

Dormant Subsidiaries:

     *    Scottsdale  Diecast,  Inc. - a Nevada Corporation with equity interest
          of 100%
     *    Quadriga Motorsports, Inc. - a Nevada Corporation with equity interest
          of 100%
     *    International   Building   Technologies,   Inc.  ("IBT")  -  a  Nevada
          Corporation with equity interest of 80%

Currently  the Company or its  subsidiary  is focusing its  attention on several
viable  businesses that could be well suited to possibly merge into the company.
Currently the Company has signed a letter of intent (LOI) with a Chinese company
and entered into the process of merge.  The company believes it is in a position
of strength and is going to explore  every  opportunity  to bring value  assets,
revenue and profit back to its stockholders and investors.

The Company has engaged a Chinese law firm to conduct the due diligence, as well
an audit  firm to  conduct  the audit as  required  for the  merge.  Result  and
progress  of such  Due  Diligent  and  audit  will be  announced  once  they are
completed.

On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with
FHH Sino New Energies  CO.,  Ltd.,  a Chinese  company  ("FHH Sino")  located in
Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that
offers  petroleum  storage  tanks and  facilities  for  rental to the  petroleum
importers/exporters  in Weihai, a coastal city in Shandong  Province of Northern
China.  Upon signing of the Letter of Intent on May 27, 2010  (effective  date),
FHH Sino made a U.S. $230,000 deposit with the Company.

The Company  intends to merge with FHH Sino by exchanging  the Company's  common
stock with FHH Sino's holding or subsidiary  company.  This merger will give the
Company the opportunity to switch its nature of business into the energy sector,
the ability to  generate  revenue  and profit  once the FHH Sino  commences  its
operation in early 2011, thus benefits our shareholders in the near future.

The  Company  had  offices in  Alameda,  CA,  and  Shanghai,  China in 2007.  In
December,  2008, the Company closed the office in Shanghai,  China.  In January,
2009,  the  Company  closed  the  office  in  Alameda,  CA and  moved to City of
Industry, CA.

BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared by the Company  pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  have been  condensed or omitted in accordance  with such
rules and  regulations.  The  information  furnished  in the  interim  condensed
consolidated  financial  statements  includes normal  recurring  adjustments and

                                       9
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2010


reflects all adjustments, which, in the opinion of management, are necessary for
a fair presentation of such financial  statements.  Although management believes
the disclosures  and information  presented are adequate to make the information
not misleading, these interim condensed consolidated financial statements should
be  read in  conjunction  with  the  Company's  most  recent  audited  financial
statements and notes thereto  included in its December 31, 2009 Annual Report on
Form  10-K.  Operating  results  for the  period  ended  June  30,  2010 are not
necessarily  indicative  of the results that may be expected for the year ending
December 31, 2010.

PRINCIPLES OF CONSOLIDATION

The accompanying  consolidated  financial statements include the accounts of the
Company and its  subsidiaries.  All intercompany  accounts and transactions have
been eliminated.

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America 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 reporting  period.  Actual results could differ from those  estimates
and assumptions.

RECLASSIFICATION

Certain reclassifications,  which have no effect on net income (loss), have been
made  in the  prior  period  financial  statements  to  conform  to the  current
presentation.

INTANGIBLE ASSETS

The  license   agreement  was  abandoned  in  accordance  with  FASB  Accounting
Codification  Standards 360-10-20 (previous guidance Statement of Accounting No.
144,  "Accounting  for the  Impairment  or Disposal of Long Lived  Assets")  and
consequently the remaining value of the asset was fully amortized as of June 30,
2010 and 2009.

IMPAIRMENT OF LONG-LIVED ASSETS

The Company  evaluates its long-lived  assets in accordance with FASB Accounting
Codification  Standards  360-10-20 by measuring  the carrying  amounts of assets
against the estimated  undiscounted  future cash flows  associated with them. At
the time  the  carrying  value of such  assets  exceeds  the fair  value of such
assets, impairment is recognized.

INCOMES TAXES

The Company  accounts for income taxes under the liability  method of accounting
for  income  taxes  in  accordance   with  the  provisions  of  FASB  Accounting
Codification  Standards 740 - "Income Taxes"  (previous  guidance  Statements of
Financial  Accounting  Standards No. 109,  "Accounting  for Income Taxes," ("FAS
109") and related interpretations and guidance including FASB Interpretation No.
48,  "Accounting  for  Uncertainty  in Income  Taxes-an  interpretation  of FASB
Statement  No. 109" ("FIN 48")).  Deferred  income taxes are provided  using the
liability  method  whereby  deferred tax assets are  recognized  for  deductible
temporary  differences  and  operating  loss and tax credit  carry-forwards  and
deferred tax  liabilities  are  recognized  for taxable  temporary  differences.
Temporary differences are the differences between the reported amounts of assets
and  liabilities  and their tax bases.  Deferred  tax  assets  are  reduced by a
valuation  allowance when, in the opinion of management,  it is more likely than

                                       10
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2010


not that some  portion or all of the  deferred  tax assets will not be realized.
Deferred tax assets and  liabilities are adjusted for the effects of the changes
in tax laws and rates of the date of enactment.

When tax returns are filed, it is highly certain that some positions taken would
be  sustained  upon  examination  by the taxing  authorities,  while  others are
subject to  uncertainty  about the merits of the position taken or the amount of
the position that would be ultimately  sustained.  The benefit of a tax position
is recognized in the financial  statements in the period during which,  based on
all available evidence,  management believes it is more likely than not that the
position will be sustained upon examination, including the resolution of appeals
or  litigation  processes,  if  any.  Tax  positions  taken  are not  offset  or
aggregated    with   other    positions.    Tax   positions    that   meet   the
more-likely-than-not recognition threshold are measured as the largest amount of
tax  benefit  that is  more  than 50  percent  likely  of  being  realized  upon
settlement  with the applicable  taxing  authority.  The portion of the benefits
associated  with tax  positions  taken  that  exceeds  the  amount  measured  as
described above is reflected as a liability for unrecognized tax benefits in the
accompanying balance sheet along with any associated interest and penalties that
would be payable to the taxing authorities upon examination.

Interest and penalties  associated with unrecognized tax benefits are classified
as additional income taxes in the statement of income.

TRANSLATION OF NON-U.S. CURRENCY AMOUNTS

Assets and liabilities of non-U.S. subsidiaries that operate in a local currency
environment are translated to U.S.  dollars at year-end  exchange rates.  Income
and  expense  items  are  translated  at  weighted-average   rates  of  exchange
prevailing  during  the year.  Translation  adjustments  are  recorded  in Other
Comprehensive  Income  not  affecting  retained  earnings  within  Stockholders'
equity.

Inventories,   plant,  rental  machines  and  other   property-net,   and  other
non-monetary  assets and liabilities of non-U.S.  subsidiaries and branches that
operate in U.S. dollars, or whose economic  environment is highly  inflationary,
are  translated  at  approximate  exchange  rates  prevailing  when the  company
acquired  the  assets or  liabilities.  All other  assets  and  liabilities  are
translated  at  year-end  exchange  rates.  Cost of sales and  depreciation  are
translated at historical  exchange rates. All other income and expense items are
translated at the weighted-average rates of exchange prevailing during the year.

Current and historical exchange rates are not indicative of what future exchange
rates will be and should not be construed as such.

Relevant  exchange rates used in the preparation of the financial  statements of
the  subsidiary  are as follows  for the  quarters  ended June 30, 2010 and 2009
(denoted in Hong Kong dollars per one U.S. dollar):

                                                   2010           2009
                                                  ------         ------
     Current exchange rate at June 30, HKD        7.7847         7.7504
     Weighted average exchange rate               7.7794         7.7513

FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying amounts of cash, accounts payable, and accrued expenses approximate
fair value because of the short maturity of these items.

                                       11
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2010


LOSS PER COMMON SHARE

Basic  net loss per  share is  computed  by  dividing  net loss by the  weighted
average number of shares of common stock outstanding during the period.  Diluted
net loss per share is  computed  by dividing  net loss by the  weighted  average
number of shares of common stock and common stock equivalents outstanding during
the period.  As the Company  incurred net losses for the quarter  ended June 30,
2010 and 2009,  common stock equivalents were excluded from diluted net loss per
share as their  effect  would be  anti-dilutive.  As a result,  for all  periods
presented, the Company's basic and diluted net loss per share is the same.

STOCK-BASED COMPENSATION

FASB Accounting  Codification  Standards (ACS) Topic 825,  "Compensation - Stock
Compensation"  (previous  guidance  Statement of Accounting  Standards  SFAS No.
123R,  "Share-Based  Payment")  requires all share-based  payments to employees,
including  grants of employee  stock options to be  recognized  as  compensation
expense in the financial  statements based on their fair values. That expense is
recognized  over the period  during  which an  employee  is  required to provide
services  in  exchange  for the award,  known as the  requisite  service  period
(usually the vesting  period).  During the quarter ended June 30, 2010 and 2009,
the  Company did not  recognize  any of  compensation  expense  associated  with
stock-based compensation.  Under FASB ACS Topic 825, the expense recognition for
variable  awards  is the same  under  the  intrinsic  value  and the fair  value
methods.

RECENT ACCOUNTING PRONOUNCEMENTS

On July 1,  2009,  Financial  Accounting  Standards  Board  ("FASB")  Accounting
Standards  Codification(TM)  ("ASC")  became  the sole  source of  authoritative
Generally Accepted Accounting  Principles ("GAAP") literature  recognized by the
Financial Accounting Standards Board for financial statements issued for interim
and annual  periods  ending after  September  15, 2009.  Rules and  interpretive
releases of the Security Exchange  Commission ("SEC") under authority of federal
securities  laws are also  sources of  authoritative  GAAP for SEC  registrants.
Except  for  applicable  SEC  rules  and  regulations  and a  limited  number of
grandfathered  standards, all other sources of GAAP for nongovernmental entities
were  superseded  by the issuance of ASC.  ASC did not change  GAAP,  but rather
combined the sources of GAAP and the framework for selecting among those sources
into a single  source.  Accordingly,  the  adoption  of ASC had no impact on the
financial results of the Company.

NOTE 2: MATERIAL EVENTS

On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with
FHH Sino New Energies  CO.,  Ltd.,  a Chinese  company  ("FHH Sino")  located in
Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that
offers  petroleum  storage  tanks and  facilities  for  rental to the  petroleum
importers/exporters  in Weihai, a coastal city in Shandong  Province of Northern
China.  Upon signing of the Letter of Intent on May 27, 2010  (effective  date),
FHH Sino made a U.S. $230,000 deposit with the Company.

The Company  intends to merge with FHH Sino by exchanging  the Company's  common
stock with FHH Sino's holding or subsidiary  company.  This merger will give the
Company the opportunity to switch its nature of business into the energy sector,
the ability to  generate  revenue  and profit  once the FHH Sino  commences  its
operation in early 2011, thus benefits our shareholders in the near future

NOTE 3: GOING CONCERN

The Company's  financial  statements  are prepared using  accounting  principles
generally  accepted  in the  United  States  of  America  applicable  to a going
concern,  which  contemplates  the  realization  of assets and  satisfaction  of

                                       12
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                  JUNE 30, 2010


liabilities in the normal course of business.  The Company's  continuation  as a
going  concern is dependent  upon its ability to generate  sufficient  cash flow
from  operations  to meet  its  obligations  on a  timely  basis  and/or  obtain
financing as may be required.  As of June 30, 2010, the Company has incurred net
losses from  operations  prior to  reentering  the  development  stage and has a
stockholders'  deficit of  $5,534,336.  Since the  inception of  reentering  the
development  stage on April 1, 2007, the Company has a stockholders'  deficit of
$7,293,281  as of June 30, 2010.  The Company has a working  capital  deficit of
$2,800,523 as of June 30, 2010. These factors raise  substantial doubt about the
Company's ability to continue as a going concern.

During the next 12 months,  the Company's  foreseeable  cash  requirements  will
relate to continual  development of the operations of its business,  maintaining
its good  standing  and making the  requisite  filings with the  Securities  and
Exchange  Commission,  and the payment of expenses  associated with reviewing or
investigating any potential business ventures. The Company may experience a cash
shortfall  and be required to raise  additional  capital.  Historically,  it has
relied  upon  internally  generated  funds and funds  from the sale of shares of
stock and loans from its  shareholders  and  private  investors  to finance  its
operations and growth.  Management may raise  additional  capital through future
public or private offerings of the Company's stock or through loans from private
investors,  although  there can be no  assurance  that it will be able to obtain
such financing. The Company's failure to do so could have a material and adverse
affect upon it and its shareholders.

The Company has entered into  negotiation  with a private owned company in China
for a  possible  merger  and  joint  venture  and will  announce  the  terms and
condition of such merger or joint venture if the  transaction  proceeds and when
there is a signed LOI, MOU or a binding agreement.

In the past 3 months, the Company funded operations through investor's  deposit.
For the coming 12 months,  the  Company  plans to  continue  to fund the Company
through  debt and  securities  sales and  issuances,  focus on a possible  joint
venture or merger until the company generates revenues through the operations of
such merged company or joint venture as stated above.

Note 4:  Notes Payable & Debt Discounts

The chart below  summarizes the Notes Payable & Debt Discounts of the Company as
of June 30, 2010. The Company is technically in default of its promissory  notes
to the above  persons or entities,  most of which notes  matured on December 31,
2009. The Company is currently  working with the note holders to restructure the
terms of such notes and extend the maturity  dates.  The interest rate for these
loans will be at 12% in 2010 since they were default at the year end.

Terms                                                                     Amount
-----                                                                     ------
Short Term Notes Payable to Shareholders:
  12% Interest;  principal of $6,597;  convertible to common stock
  based  on  75%  of  average  price;  due  on  9/3/2009,  net  of
  unamortized discount related to the debt discount of $0               $  6,597
  12% Interest;  principal of $55,180; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               55,180
  12% Interest;  principal of $11,000; convertible to common stock
  based  on  75%  of  average  price;  due  on  10/9/2009,  net of
  unamortized discount related to the debt discount of $0                 11,000
  12% Interest;  principal of $31,925; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               31,925
  12% Interest;  principal of $10,269; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               10,269

                                       13
<PAGE>
  12% Interest;  principal of $12,500; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 12,500
  12% Interest;  principal of $15,000; convertible to common stock
  based  on  75%  of  average  price;  due  on  8/1/2009,  net  of
  unamortized discount related to the debt discount of $0                 15,000
  12% Interest;  principal of $23,439; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 23,439
  12% Interest;  principal of $3,920;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                3,920
  12% Interest;  principal of $10,642; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 10,642
  12% Interest;  principal of $9,458;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                9,458
  12% Interest;  principal of $37,133; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               37,133
  12% Interest;  principal of $5,000;  convertible to common stock
  based  on 75%  of  average  price;  due  on  10/28/2009,  net of
  unamortized discount related to the debt discount of $0                  5,000
  12% Interest;  principal of $10,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized  discount  related  to the debt  discount  of $3,271        10,000
  12% Interest;  principal of $13,000; convertible to common stock
  based  on  75%  of  average  price;  due  on  8/1/2009,  net  of
  unamortized discount related to the debt discount of $0                 13,000
  12% Interest;  principal of $7,209;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                7,209
  12% Interest;  principal of $23,847; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               23,847
  12% Interest;  principal of $20,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 20,000
  12% Interest;  principal of $25,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 25,000
  12% Interest;  principal of $70,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 70,000
  12% Interest;  principal of $36,867; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               36,867
  12% Interest;  principal of $73,975; convertible to common stock
  based  on  75%  of  average  price;  due  on  7/1/2009,  net  of
  unamortized discount related to the debt discount of $0                 73,975

                                       14
<PAGE>
  12% Interest;  principal of $1,112;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                1,112
  12% Interest;  principal of $10,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 10,000
  12% Interest;  principal of $15,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  10/29/2009,  net of
  unamortized discount related to the debt discount of $0                 15,000
  12% Interest;  principal of $50,240; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 50,241
                                                                        --------
Total Short Term Notes Payable to Shareholders                          $588,314
                                                                        ========
Short Term Notes Payable:
  12% Interest;  principal of $50,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 50,000
  12% Interest;  principal of $50,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 50,000
  12% Interest;  principal of $15,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 15,000
  12% Interest;  principal of $10,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 10,000
  12% Interest;  principal of $20,500; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 20,500
                                                                        --------
Total Short Term Notes Payable                                          $145,500
                                                                        ========

NOTE 5: STOCKHOLDERS' EQUITY

PREFERRED STOCK

On April 23, 2010, CEPA Group Pacific  Holdings Ltd.  exchanged 12,320 shares of
Preferred  D  Stock  into  88,000,000  shares  of  Common  Stock  at a  $0.00014
conversion price as of April 15, 2010.

On June 7, 2010,  Jade C. Uno exchanged  20,000 shares of Preferred D Stock into
105,263,157 shares of Common Stock at a $0.00019 conversion price based upon the
20-day trading average of the Company.

COMMON STOCK

During  the  quarter  ended  June  30,  2010,  the  Company  issued  a total  of
895,640,888  shares of common  stock  valued at $25,400  for  repayment  of debt
detailed in the following chart:

                                       15
<PAGE>
                  Number of       Aggregate
Date of Issue   Shares Issued    Sales Price         Nature of Transaction
-------------   -------------    -----------         ---------------------
 4/23/2010       88,000,000       $ 12,320      In exchange of Preferred D Stock
 5/4/2010       130,000,000       $ 12,220      In exchange for debt repayment
 5/17/2010      132,490,203       $ 10,930      In exchange for debt repayment
 5/28/2010      139,101,464       $ 11,998      In exchange for debt repayment
 6/7/2010       105,263,157       $ 20,000      In exchange of Preferred D Stock
 6/9/2010       154,000,000       $ 16,786      In exchange for debt repayment
 6/22/2010      146,786,064       $ 35,229      In exchange for debt repayment
                -----------       --------
Total           895,640,888       $119,483
                ===========       ========

NOTE 6: DERIVATIVE LIABILITY

As of June  30,  2010,  the  common  stock  equivalents  of the  Company  on all
convertible  debentures  and  preferred  stock  exceeded  the total common stock
available for issuance by approximately by 18,083,573,516  shares. The Company's
Chief  Executive  Officer,  Kenneth Yeung,  holds  2,000,000  shares of Series C
Preferred Stock that are convertible  into  14,842,300,557  common shares of the
Company.

Unless and until there is enough  authorized common stock available to cover all
common  stock  equivalents,  Mr.  Yeung will not  convert  any of his  preferred
shares. Furthermore, the stock is only convertible upon management's discretion.
Management  currently does not intend on converting  such stock.  Also,  warrant
options are not included in common stock equivalents since the exercise price of
$0.25 for the warrant is more than the fair value of common stock of $0.0004 per
share on June 30, 2010. The remaining  common stock  equivalent of 3,241,212,959
shares has been accounted for as a derivative liability. Accordingly, the excess
common stock equivalents exceeding the total common stock available for issue is
marked to market through earnings at the end of each reporting period. Utilizing
the  Black-Scholes  valuation  model and the  following  assumptions:  estimated
volatility  of 633.69%,  a  contractual  life of  approximately  a year,  a zero
dividend rate, 0.32% risk free interest rate,  exercise price of $0.00028307 and
the fair value of common  stock of $0.0004  per share as of June 30,  2010,  the
Company  determined the allocated fair value of the  derivative  liability.  The
Company  reflected  an income of $74,054 in the  quarter  ended June 30, 2010 to
adjust the derivative liability to $1,294,781 as of June 30, 2010,  representing
the initial fair value of excess  common stock  equivalents  exceeding the total
common stock available for issuance.

NOTE 7: SUBSEQUENT EVENTS

STOCK ISSUANCES

     The Company issued the following Common Stocks in subsequent of the quarter
ended June 30, 2010 and prior to the filing of these financial statements.

     *    The Company issued 90,427,769 shares of common stock valued at $22,697
          for repayment of debt on July 21, 2010.
     *    12,680 shares of Preferred Series "D" Convertible Stock were converted
          into 50,720,000 shares of common stock on July 28, 2010.
     *    22,500 shares of Preferred Series "D" Convertible Stock were converted
          into 90,000,000 shares of common stock on July 28, 2010.

Management has reviewed material subsequent events in accordance with FASB ASC
855 "Subsequent Events". No additional disclosures are required.

                                       16
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS.

                     CAUTIONARY FORWARD - LOOKING STATEMENT

     The following  discussion  should be read in conjunction with our financial
statements and related notes.

     Certain matters  discussed  herein may contain  forward-looking  statements
that are  subject  to risks and  uncertainties.  Such  risks  and  uncertainties
include, but are not limited to, the following:

     *    the volatile and competitive nature of our industry,
     *    the uncertainties surrounding the rapidly evolving markets in which we
          compete,
     *    the uncertainties surrounding technological change of the industry,
     *    our dependence on its intellectual property rights,
     *    the success of marketing efforts by third parties,
     *    the changing demands of customers and
     *    the arrangements with present and future customers and third parties.

     Should one or more of these risks or  uncertainties  materialize  or should
any of the underlying assumptions prove incorrect, actual results of current and
future operations may vary materially from those anticipated.

RESULTS OF  OPERATIONS  - THREE  MONTHS  ENDED JUNE 30,  2010  COMPARED TO THREE
MONTHS ENDED JUNE 30, 2009

     Since  discontinuing  the prior business and  re-entering  the  development
stage as of April 1, 2007 the Company's results of operations has changed. There
are no revenues during the current development stage as we are in the process of
starting our manufacturing process.

     For the  quarter  ended  June 30,  2010,  Operating  Expenses  for  current
operations  totaled  $123,508  is less than the  quarter  ended June 30,  2009's
Operating  Expenses  of  $128,956.  The minor  decrease  of $5,448 in  Operating
Expenses  between  quarters  ended  2010 and 2009 was mostly  attributed  to the
decrease in accounting fees.

     One of the  significant  changes in our results of  operations  is interest
Expense  which  was  $19,352  and as of June  30,  2009,  Interest  Expense  was
$363,467.  The  $344,115  drop in  Interest  Expense  was due to the  change  in
beneficial  conversion  feature of the notes. There is also a significant change
in the fair value of  derivative.  As of June 30, 2010,  change in fair value of
derivative resulting in a decrement from $1,329,177 to $74,055. This decrease in
the fair value of derivative  is resulted from the liability of derivative  that
was less than that at June 30, 2010.  The change in the fair value of derivative
is resulted from the common stock  equivalents of the Company on all convertible
debentures  and preferred  stock  exceeded the total common stock  available for
issuance  by  approximately  by  18,083,513,516   shares.  The  Company's  Chief
Executive  Officer,  Kenneth Yeung, holds 2,000,000 shares of Series C Preferred
Stock that are  convertible  into  14,842,300,557  common shares of the Company.
Unless and until there is enough  authorized common stock available to cover all
common  stock  equivalents,  Mr.  Yeung will not  convert  any of his  preferred
shares. Furthermore, the stock is only convertible upon management's discretion.
Management  currently does not intend on converting  such stock.  Also,  warrant
options are not included in common stock equivalents since the exercise price of
$0.25 for the  warrant  exceeds  the fair value of common  stock of $0.0004  per
share on June 30, 2010. The remaining  common stock  equivalent of 3,241,212,959
shares has been accounted for as a derivative  liability.  The fair value of the
derivative of $1,294,781 was determined by utilizing the Black-Scholes valuation
model.

LIQUIDITY AND CAPITAL RESOURCES

     Our future success and viability is primarily dependent upon our ability to
increase operating cash flows and develop new business opportunities.

                                       17
<PAGE>
     During the next 12 months, the Company's foreseeable cash requirements will
relate to continual  development of the operations of its business,  maintaining
its good  standing  and making the  requisite  filings with the  Securities  and
Exchange  Commission,  and the payment of expenses  associated with reviewing or
investigating any potential business ventures.

     Additionally,  we may  experience a cash shortfall and be required to raise
additional  capital.  In the three months ended June 30, 2010 we relied on funds
from the investor  deposit.  Management  may raise  additional  capital  through
future  public or private  offerings of our stock or through  loans from private
investors,  although  there can be no  assurance  that we will be able to obtain
such  financing.  Our failure to do so could have a material and adverse  affect
upon us and our shareholders.

     The Company has entered into  negotiation  with a private  owned company in
China for a possible  merger and joint  venture and will  announce the terms and
condition of such merger or joint venture if the  transaction  proceeds and when
there is a signed LOI, MOU or a binding agreement.

     The chart  below  summarizes  our debt  (see Note 4 - Notes  Payable & Debt
Discounts  of  the  Consolidated   Financial  Statements  -  Notes  Payable  and
Beneficial Conversions):

Terms                                                                     Amount
-----                                                                     ------
Short Term Notes Payable to Shareholders:
  12% Interest;  principal of $6,597;  convertible to common stock
  based  on  75%  of  average  price;  due  on  9/3/2009,  net  of
  unamortized discount related to the debt discount of $0               $  6,597
  12% Interest;  principal of $55,180; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               55,180
  12% Interest;  principal of $11,000; convertible to common stock
  based  on  75%  of  average  price;  due  on  10/9/2009,  net of
  unamortized discount related to the debt discount of $0                 11,000
  12% Interest;  principal of $31,925; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               31,925
  12% Interest;  principal of $10,269; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               10,269
  12% Interest;  principal of $12,500; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 12,500
  12% Interest;  principal of $15,000; convertible to common stock
  based  on  75%  of  average  price;  due  on  8/1/2009,  net  of
  unamortized discount related to the debt discount of $0                 15,000
  12% Interest;  principal of $23,439; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 23,439
  12% Interest;  principal of $3,920;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                3,920
  12% Interest;  principal of $10,642; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 10,642
  12% Interest;  principal of $9,458;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                9,458
  12% Interest;  principal of $37,133; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               37,133

                                       18
<PAGE>
  12% Interest;  principal of $5,000;  convertible to common stock
  based  on 75%  of  average  price;  due  on  10/28/2009,  net of
  unamortized discount related to the debt discount of $0                  5,000
  12% Interest;  principal of $10,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized  discount  related  to the debt  discount  of $3,271        10,000
  12% Interest;  principal of $13,000; convertible to common stock
  based  on  75%  of  average  price;  due  on  8/1/2009,  net  of
  unamortized discount related to the debt discount of $0                 13,000
  12% Interest;  principal of $7,209;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                7,209
  12% Interest;  principal of $23,847; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               23,847
  12% Interest;  principal of $20,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 20,000
  12% Interest;  principal of $25,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 25,000
  12% Interest;  principal of $70,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 70,000
  12% Interest;  principal of $36,867; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0               36,867
  12% Interest;  principal of $73,975; convertible to common stock
  based  on  75%  of  average  price;  due  on  7/1/2009,  net  of
  unamortized discount related to the debt discount of $0                 73,975
  12% Interest;  principal of $1,112;  convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discounted related to the debt discount of $0                1,112
  12% Interest;  principal of $10,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 10,000
  12% Interest;  principal of $15,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  10/29/2009,  net of
  unamortized discount related to the debt discount of $0                 15,000
  12% Interest;  principal of $50,240; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 50,241
                                                                        --------
Total Short Term Notes Payable to Shareholders                          $588,314
                                                                        ========
Short Term Notes Payable:
  12% Interest;  principal of $50,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 50,000
  12% Interest;  principal of $50,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 50,000
  12% Interest;  principal of $15,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 15,000

                                       19
<PAGE>
  12% Interest;  principal of $10,000; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 10,000
  12% Interest;  principal of $20,500; convertible to common stock
  based  on 75%  of  average  price;  due  on  12/31/2009,  net of
  unamortized discount related to the debt discount of $0                 20,500
                                                                        --------
Total Short Term Notes Payable                                          $145,500
                                                                        ========

SIX MONTHS ENDED JUNE 30, 2010

     As of June 30,  2010,  the  Company's  current  assets were $54,736 and its
current  liabilities were $2,855,258,  resulting in a working capital deficit of
$2,800,522. As of June 30, 2010, current assets were comprised of (i) $53,725 in
cash; (ii) $1,011 in other current assets.

     As of June 30, 2010,  current  liabilities were comprised of (i) $1,294,781
in derivative  liability;  (ii) $588,314 in notes  payable to  stockholders  and
$145,500  in notes  payable;  (ii)  $311,407  in  accounts  payable  and accrued
expenses and $283,548 of other amounts due to shareholders.

     As of June 30, 2010, the Company's  total assets were $56,736 and its total
liabilities were $2,855,258, with a net stockholder's deficit of $2,798,522.

     For the six months  ended June 30,  2010,  net cash flows used in operating
activities were $188,789 compared to net cash flows used in operating activities
of  $104,007,  before  the  net  cash  used  in  and  provided  by  discontinued
operations,  for the quarter ended June 30, 2009. The increase of $82,487 during
the  twelve-month  period ended June 30, 2010 was primarily due to the change in
fair value of derivative liability.

     For the six months  ended June 30, 2010 and June 30,  2009,  net cash flows
used in investing activities were both $0.

     For the six  months  ended  June 30,  2010,  net  cash  flows  provided  by
financing  activities  was  $230,000  compared  to net cash  flows  provided  by
financing  activities of $102,802 for the six months period ended June 30, 2009.
Cash inflow for in 2010 consisted of the investor deposit of $230,000 while cash
inflows in 2009 consisted of the sale of preferred stock.

     Our financial  statements have been prepared assuming that we will continue
as a going concern and, accordingly,  do not include adjustments relating to the
recoverability and realization of assets and classifications of liabilities that
might be necessary should we be unable to continue our operations.

     As of the date of this Annual Report, the Company has generated no revenues
from  operations  since it  entered  the  development  stage  on April 1,  2007.
Therefore,  the Company's  auditors have expressed  substantial  doubt about the
Company's  ability to continue as a going concern.  Management  believes that it
can maintain its status as a going  concern  based on its ability to raise funds
pursuant  to future  public and private  offerings  and to obtain  advances  and
minimize operating expenses by not duplicating or incurring needless expenses.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK.

     Not applicable.

                                       20
<PAGE>
ITEM 4. CONTROLS AND PROCEDURES.

(a) Evaluation of Disclosure Controls and Procedures

     We conducted an evaluation under the supervision and with the participation
of our management,  including  Kenneth Yeung,  our Chief  Executive  Officer and
Chief Financial Officer, of the effectiveness of the design and operation of our
disclosure   controls  and  procedures.   The  term  "disclosure   controls  and
procedures,"  as defined in Rules  13a-15(e) and 15d-15(e)  under the Securities
and Exchange Act of 1934, as amended  ("Exchange Act"), means controls and other
procedures of a company that are designed to ensure that information required to
be  disclosed  by the  company  in the  reports  it files or  submits  under the
Exchange Act is recorded,  processed,  summarized and reported,  within the time
periods specified in the Securities and Exchange  Commission's  rules and forms.
Disclosure controls and procedures also include,  without  limitation,  controls
and procedures designed to ensure that information required to be disclosed by a
company  in the  reports  that it files or  submits  under the  Exchange  Act is
accumulated  and  communicated  to  the  company's  management,   including  its
principal  executive and principal  financial  officers,  or persons  performing
similar functions, as appropriate,  to allow timely decisions regarding required
disclosure.  Based on this  evaluation,  our Chief  Executive  Officer and Chief
Financial  Officer  concluded as of December 31, 2009,  and again as of June 30,
2010,  that our disclosure  controls and procedures  have been improved and were
maintained  effectively  at the  reasonable  assurance  level  in  our  internal
controls over financial reporting discussed immediately below.

MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

     Our management is responsible for  establishing  and  maintaining  adequate
internal  control over  financial  reporting as defined in Rules  13a-15(f)  and
15d-15(f) under the Exchange Act. Our internal control over financial  reporting
is  designed  to provide  reasonable  assurance  regarding  the  reliability  of
financial  reporting and the  preparation  of financial  statements for external
purposes in  accordance  with  generally  accepted  accounting  principles.  Our
internal control over financial reporting includes those policies and procedures
that:

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

     (2)  provide  reasonable   assurance  that  transactions  are  recorded  as
          necessary to permit preparation of financial  statements in accordance
          with U.S. GAAP, and that our receipts and  expenditures are being made
          only in  accordance  with  the  authorization  of our  management  and
          directors; and

     (3)  provide reasonable  assurance regarding prevention or timely detection
          of  unauthorized  acquisition,  use or  disposition of our assets that
          could have a material effect on the financial statements.

     Because  of its  inherent  limitations,  internal  control  over  financial
reporting  may not prevent or detect  misstatements.  Also,  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.

                                       21
<PAGE>
     Management   assessed  the  effectiveness  of  our  internal  control  over
financial  reporting  as of December 31,  2009,  and again at June 30, 2010.  In
making this  assessment,  management  used the framework set forth in the report
entitled  Internal  Control--Integrated  Framework  issued by the  Committee  of
Sponsoring Organizations of the Treadway Commission, or COSO. The COSO framework
summarizes  each of the  components  of a  company's  internal  control  system,
including  (i) the control  environment,  (ii) risk  assessment,  (iii)  control
activities, (iv) information and communication,  and (v) monitoring. This annual
report  does  not  include  an  attestation  report  of  our  registered  public
accounting   firm  regarding   internal   control  over   financial   reporting.
Management's  report was not subject to  attestation  by our  registered  public
accounting  firm  pursuant to  temporary  rules of the  Securities  and Exchange
Commission  that permits us to provide only  management's  report in this annual
report.

IDENTIFIED MATERIAL WEAKNESSES AND SIGNIFICANT DEFICIENCIES

     A material  weakness is a control  deficiency,  or  combination  of control
deficiencies,  that  results  in more than a remote  likelihood  that a material
misstatement  of the  financial  statements  will not be  prevented or detected.
Management  identified the following  internal  control  deficiency which we had
assessed as a material weakness as of June 30, 2010,  December 31, 2009 and 2008
during its  assessment  of our  internal  control  over  financial  reporting as
follows:

     1.   We did not have adequate  segregation  of duties over certain areas of
          our financial reporting process.

     2.   We had a substantial number of journal entries.

     The internal  control  deficiency  identified above will only be completely
corrected if the company  expands and has the capacity to  adequately  segregate
the duties to mitigate risk in financial reporting. Expansion will depend mostly
on the ability of management to begin  operations and generate  enough income to
warrant growth in personnel.

     We did not have  effective  comprehensive  entity-level  internal  controls
specific to the structure of our board of directors and organization of critical
committees.  Due to our  expected  expansion,  as  disclosed  in this Form 10-Q,
without  correcting this  significant  deficiency and ensuring that our board of
directors has the proper oversight and committees are properly established,  the
control environment in subsequent years may not be effective.

     We had engaged a regionally-recognized independent consulting firm assisted
management with its assessment of the effectiveness of our internal control over
financial  reporting,   including  scope  determination,   planning,   staffing,
documentation, testing, remediation and retesting and overall program management
of the assessment project. In conclusion,  our Chief Executive Officer and Chief
Financial Officer surmised that the Company has improved the effective  internal
control over  financial  reporting as of December 31, 2009, and again as of June
30, 2010.

MANAGEMENT'S REMEDIATION INITIATIVES

     We are in the further  process of evaluating  our material and  significant
deficiencies.  We have  already  begun to  remediate  many of the  deficiencies.
However, others will require additional people, including adding to our board of
directors, which will take longer to remediate.

                                       22
<PAGE>
     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:

     1.   Identify  and  retain  one or two  new  directors  for  our  board  of
          directors  including a member who is  appropriately  credentialed as a
          financial expert with a goal of having sufficient independent board of
          directors oversight;

     2.   Ensure  all entity  level  controls  are  applied at all levels of the
          organization and are scalable for acquisition or merge targets;

     3.   Establish   comprehensive   formal  general  accounting  policies  and
          procedures  and  require  directors  or  employees  to sign  off  such
          policies and procedures as documentation of their understanding of and
          compliance with company policies;

     4.   Make  all  directors  or  employees  subject  to our  Code  of  Ethics
          (including  those  employees in  acquisition  targets) and require all
          employees  and directors to sign our Code of Ethics on an annual basis
          and retain the related documentation; and,

     5.   Implement better segregation of duties given the size of our company.

     We believe that the above five initiatives had been at least partially,  if
not fully,  implemented  by the end of 2009.  Additionally,  we plan to test our
updated controls and remediate our deficiencies by December 31, 2010.

CONCLUSION

     The above identified  improvement,  material  weaknesses and deficiency did
not result in  material  audit  adjustments  to our 2009  financial  statements.
However, it is reasonably possible that, if not re-mediated,  one or more of the
identified   material   weaknesses  noted  above  could  result  in  a  material
misstatement  in our  reported  financial  statements  that  might  result  in a
material misstatement in a future annual or interim period.

     In light of the identified material weaknesses,  management,  performed (1)
significant  additional  substantive  review of those areas described above, and
(2)  performed  additional  analyses,  including  but not  limited to a detailed
balance  sheet and  statement  of  operations  analytical  review that  compared
changes  from  the  prior  period's   financial   statements  and  analyzed  all
significant  differences.  These  procedures were completed so management  could
gain assurance that the financial statements and schedules included in this Form
10-Q fairly present in all material respects the Company's  financial  position,
results of operations and cash flows for the periods presented.

     The changes  noted  above,  are the only changes  during our most  recently
completed fiscal quarter that have materially  affected or are reasonably likely
to materially affect, our internal control over financial reporting,  as defined
in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.

     Our  Annual  Report on Form 10-K for 2009 did 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

                                       23
<PAGE>
temporary  rules of the  Securities  and  Exchange  Commission  that  permit the
Company to provide only management's report in its Annual Report.

(b) Changes in Internal Control over Financial Reporting

     During the  quarter  ended June 30,  2010,  we did not make any  changes in
Internal Control over Financial Reporting.

                           PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

     The Company is not aware of any  threatened or pending  litigation  against
the Company.

ITEM 1A. RISK FACTORS.

     Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

     Since  March 31,  2010,  the Company  has issued the  following  securities
without registration under the Securities Act of 1933:

                    Number of      Aggregate
Date of Issue    Shares Issued    Sales Price        Nature of Transaction
-------------    -------------    -----------        ---------------------
4/28/2010         88,000,000      $25,000.00   Conversion of Series D Preferred
                                                Stock
5/5/2010         130,000,000      $12,220.00   Debt Conversion
5/17/2010        132,490,203      $10,930.44   Debt Conversion
6/1/2010         139,101,464      $11,987.50   Debt Conversion
6/10/2010        105,263,157      $20,000.00   Conversion of Series D Preferred
                                                Stock
6/15/2019        154,000,000      $16,786.00   Debt Conversion
6/23/2010        146,786,064      $35,228.66   Debt Conversion
7/21/2010         90,427,769      $22,697.37   Debt Conversion
7/28/2010         50,720,000      $12,680.00   Conversion of Series D Preferred
                                                Stock
7/28/2010         90,000,000      $22,500.00   Conversion of Series D Preferred
                                                Stock

     Management  believes the above shares of common stock were issued  pursuant
to the exemption from  registration  under Section 4(2) of the Securities Act of
1933, as amended.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

     None.

ITEM 4. (REMOVED AND RESERVED).

ITEM 5. OTHER INFORMATION.

     None.

                                       24
<PAGE>
ITEM 6. EXHIBITS.

     See Exhibit  Index below for  exhibits  required by Item 601 of  regulation
S-K.

                                  EXHIBIT INDEX

     List of Exhibits attached or incorporated by reference pursuant to Item 601
of Regulation S-K:

Exhibit                              Description
-------                              -----------

2(i)*     Agreement and Plan of Merger  (Appendix D of the Company's  Definitive
          Proxy  Statement on Form DEF 14A filed with the Commission on June 25,
          2004).

3(i)(1)*  Restated  Articles of Incorporation  filed with the Secretary of State
          of Colorado on August 10, 2004 (Appendix A of the Company's Definitive
          Proxy  Statement on Form DEF 14A filed with the Commission on June 25,
          2004).

3(i)(2)*  Articles of  Incorporation  of Ten Stix, Inc. filed with the Secretary
          of  State of  Nevada  on May 28,  2004  (Appendix  F of the  Company's
          Definitive  Proxy  Statement on Form DEF 14A filed with the Commission
          on June 25, 2004).

3(i)(3)*  Certificate  of  Amendment to Articles of  Incorporation  of Ten Stix,
          Inc.  filed with the  Secretary of State of Nevada on December 1, 2004
          (Exhibit 3.1 to the  Company's  Current  Report on Form 8-K filed with
          the Commission on December 6, 2004).

3(i)(4)*  Certificate  of  Amendment  to the  Articles of  Incorporation  of the
          Company  filed with the  Secretary  of State of Nevada on October  12,
          2006 (Exhibit 3 (1) to the Company's  Quarterly  report on Form 10-QSB
          filed with the Commission on November 14, 2006).

3(i)(5)*  Certificate  of  Amendment  to the  Articles of  Incorporation  of the
          Company  filed with the  Secretary of State of Nevada on July 17, 2007
          (Exhibit 3 (i) (5) to the Company's  form 10-KSB Annual Report for the
          Fiscal Year Ended  December 31,  2007,  filed with the  Commission  on
          April 3, 2008).

3(i)(6)*  Certificate  of  Amendment  to the  Articles of  Incorporation  of the
          Company  filed with the  Secretary of State of Nevada on May 22, 2008,
          changing  par value of common  stock to  $.00001  (Exhibit  3.1 to the
          Company's  Quarterly  Report for the Period Ended June 30, 2008, filed
          with the Commission on August 13, 2008).

3(i)(7)*  Certificate  of Amendment to Articles of  Incorporation  to change the
          total authorized shares and conversion terms of the Company's Series E
          Preferred  Stock filed with the  Secretary  of State of Nevada on July
          28, 2008 (Exhibit 4.2 to the Company's  Quarterly  Report on Form 10-Q
          for the Period  Ended June 30,  2008,  filed  with the  Commission  on
          August 13, 2008).

3(i)(8)*  Certificate  of Amendment to Articles of  Incorporation  to change the
          total authorized capital stock of the Company filed with the Secretary
          of State of Nevada on August 11, 2008  (Exhibit  4.3 to the  Company's
          Quarterly  Report on Form 10-Q for the  Period  Ended  June 30,  2008,
          filed with the Commission on August 13, 2008).

                                       25
<PAGE>
3(i)(9)*  Certificate  of Amendment to Articles of  Incorporation  to change the
          total authorized capital stock of the Company filed with the Secretary
          of State of Nevada on October 13, 2009.

3(ii)*    By-laws of the Company  (Exhibit 3. II to the  Company's  Registration
          Statement on Form 10SB filed with the Commission on February 8, 2001).

4(i)*     Certificate of  Designation  of Series A Preferred  Stock of Ten Stix,
          Inc.  (Appendix G of the Company's  Definitive Proxy Statement on Form
          DEF 14A filed with the Commission on June 25, 2004).

4(ii)*    Certificate of Designation of Series C Preferred  Stock of the Company
          (Exhibit 99.1 to the Company's  Current  report on Form 8-K filed with
          the Commission on September 14, 2006).

4(iii)*   Certificate  of Amendment to  Certificate  of  Designation of Series B
          Preferred  Stock of the Company  filed with the  Secretary of State of
          Nevada on May 30, 2007 (Exhibit 4 (iii) to the Company's Annual Report
          on Form 10-KSB for the Fiscal Year Ended December 31, 2007, filed with
          the Commission on April 3, 2008).

4(iv)*    Certificate  of Amendment to  Certificate  of  Designation of Series C
          Preferred Stock of Company filed with the Secretary of State of Nevada
          on May 30, 2007 (Exhibit 4 (iv) to the Company's Annual Report on Form
          10-KSB for the Fiscal Year Ended  December  31,  2007,  filed with the
          Commission on April 3, 2008).

4(v)*     Certificate  of Amendment to  Certificate  of  Designation of Series D
          Preferred  Stock of the Company  filed with the  Secretary of State of
          Nevada on December  10, 2007  (Exhibit 4 (v) to the  Company's  Annual
          Report on Form 10-KSB for the Fiscal  Year Ended  December  31,  2007,
          filed with the Commission on April 3, 2008).

4(vi)*    Certificate of Designation of Series E Preferred  Stock of the Company
          filed  with the  Secretary  of State of Nevada on  December  10,  2007
          (Exhibit 4 (vi) to the Company's  Annual Report on Form 10-KSB for the
          Fiscal Year Ended  December 31,  2007,  filed with the  Commission  on
          April 3, 2008).

4(vii)*   Certificate of Designation of Series F Preferred  Stock of the Company
          filed with the Secretary of State of Nevada on April 23, 2008 (Exhibit
          4.1 to the  Company's  Quarterly  Report on Form  10-Q for the  Period
          Ended June 30, 2008, filed with the Commission on August 13, 2008).

4(viii)*  Amendment to  Certificate  of  Designation  After Issuance of Class or
          Series to change the total  authorized  shares and conversion terms of
          the  Company's  Series E Preferred  Stock filed with the  Secretary of
          State of Nevada on  August  28,  2008  (Exhibit  4.4 to the  Company's
          Quarterly  Report on Form 10-Q for the  Period  Ended  June 30,  2008,
          filed with the Commission on August 13, 2008).

                                       26
<PAGE>
10.1*     Stock Sale and Purchase  Agreement  dated March 14, 2007,  by, between
          David  Keaveney,  Kenneth  Yeung and the Company  (Exhibit 10.1 to the
          Company's  Current  Report on Form 8-K filed  with the  Commission  on
          March 27, 2007).

10.2*     Asset Sale and Purchase  Agreement  dated July 8, 2007, by and between
          International  Building  Technologies  Co.,  Ltd.  and  Suining  Yinfa
          Construction  & Engineering  Co., Ltd.  (Exhibit 10.1 to the Company's
          Current  Report  on Form 8-K  filed  with the  Commission  on July 23,
          2007).

10.3*     Amendment  to Asset Sale and  Purchase  Agreement  by and  between the
          Company and Suining Yinfa Construction and Engineering, Ltd., executed
          on December 5, 2007 (Exhibit 10.2 to the Company's  Current  Report on
          Form 8-K, filed with the Commission on April 29, 2008).

10.4*     Rescission to the Asset Sale and Purchase Agreement by and between the
          Company and Suining Yinfa Construction and Engineering, Ltd., executed
          on April 23, 2008  (Exhibit 10.1 to the  Company's  Current  Report on
          Form 8-K, filed with the Commission on April 29, 2008).

10.5*     Twelve Month  Convertible Note Amendment dated March 14, 2007 (Exhibit
          10.2 to the  Company's  Current  Report  on Form  8-K  filed  with the
          Commission on March 27, 2007).

10.6*     Employment  Agreement  between the Company and Kenneth Yeung dated May
          21, 2007,  effective May 1, 2007 (Exhibit 10.8 to the Company's Annual
          Report on Form 10-KSB for the Fiscal  Year Ended  December  31,  2007,
          filed with the Commission on April 3, 2008).

10.7*     Employment  Agreement  between the  Company  and  Kenneth  Yeung dated
          February 1, 2010, effective May 1, 2010 (Exhibit 10.7 to the Company's
          Annual  Report on Form 10-K for the  Fiscal  Year Ended  December  31,
          2009, filed with the Commission on March 31, 2010).

10.8*     Stock Sale and Purchase Agreement by and between the Company and Wuhan
          Intepower Co.,  Ltd.,  executed on April 17, 2008 (Exhibit 10.1 to the
          Company's  Current  Report on Form 8-K,  filed with the  Commission on
          April 21, 2008)

10.9*     Compensation  Agreement  between  the  Company  and Peter  Chin  dated
          September 30, 2009  (Exhibit  10.9 to the  Company's  Annual Report on
          Form 10-K for the Fiscal Year Ended December 31, 2009,  filed with the
          Commission on March 31, 2010).

14*       Code of Ethics  (Exhibit  14 to the  Company's  Annual  Report on Form
          10-KSB for the Fiscal Year Ended  December  31,  2007,  filed with the
          Commission on April 3, 2008).

31.1**    Certification under Section 302 of Sarbanes-Oxley Act of 2002.

32.1**    Certification under Section 906 of Sarbanes-Oxley Act of 2002.

----------
*  Exhibits incorporated herein by reference. File No. 0-32323.
** Filed herewith

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<PAGE>
                                   SIGNATURES

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

                                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.


Date: August 11, 2010            /s/ Kenneth Yeung
                                 -----------------------------------------------
                                 Kenneth Yeung
                                 President, Chief Executive Officer and
                                 Chief Financial Officer (Principal
                                 Accounting, Executive and Financial Officer)


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