SENSE TECHNOLOGIES
INC. INTERIM FINANCIAL STATEMENTS November 30, 2008 (Stated in US Dollars) ( Unaudited)                            SENSE TECHNOLOGIES INC.BALANCE SHEETSAs of
November 30, 2008 and February 29, 2008(Stated in US Dollars) (
Unaudited) November 30,


February 292008


2008ASSETSCurrentCash
$
890

$
988Accounts Receivable

1,353


-Inventory

123,839


41,235Prepaids

25,225


30,466Total Current Assets

151,307


72,689Deposit

15,699


15,699Equipment  Net of accumulated depreciation
of $77,983 and $66,802 at
November 30, 2008
and February 29, 2008,
respectively

64,724


75,904Intangible assets

2


2Total
Assets
$
231,732

$
164,294LIABILITIESCurrentChecks in excess of
cash
$
44,785

$
9,575Accounts payable and
accrued liabilities

1,608,744


1,518,123Notes payable

814,169


450,852Advances payable 
related entity

8,625


40,050Dividends payable

195,243


171,550Convertible
promissory notes payable

584,447


584,447Total Current Liabilities

3,256,013


2,774,597STOCKHOLDERS'
DEFICIENCYClass A preferred shares, without par value,
redeemable at $1 per share     20,000,000
shares authorized, 315,914 shares issued at

315,914


315,914November 30, 2008
(February 29, 2008: 315,914)Common stock, without par value
100,000,000
shares authorized, 58,604,651 shares issued atNovember 30, 2008
(February 29, 2008: 45,575,551)

12,545,710


12,362,142Common stock subscribed  Note 2

102,500


650,500Subscriptions receivable

-


(891,432Common stock to be issued

88,889


288,889Additional paid-in capital

137,329


137,329Accumulated Deficit

(16,214,623
)

(15,473,645
)Total Stockholders Deficiency

(  3,024,281
)

(  2,610,303
)Total Liabilities and Stockholders
Deficiency
$
231,732

$
164,294   SEE ACCOMPANYING NOTES     ________________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
1________________________________________________________________________________________________________________________________________________________  SENSE TECHNOLOGIES INC.INTERIM STATEMENTS OF LOSS
for the three and nine months ended November 30, 2008 and 2007 (Stated
in US Dollars) ( Unaudited) Three months ended


Nine months endedNovember 30,


November 30,2008


2007


2008


2007Restated

Note
7





Restated-
Note
7Sales
$
4,871

$
29,439

$
118,538

$
59,611Direct costsCost
of sales

33


-


31,018


7,091Manufacturing
expenses

-


8,874


3,572


10,068Research
and development

7,856


643


11,156


15,944Commissions

5,100


-


15,300


-Royalties

30,000


30,000


90,000


90,000Write-off
of inventory

-


-


-


76,89142,989


39,517


151,046


199,994(38,118
)

(10,078
)

(32,508
)

(140,383
)Advertising
and marketing

59,015


62,450


179,385


184,238Consulting
fees

101,200


101,200


126,100


108,260Contract
labor

1,000


948


6,000


8,222Depreciation

5,076


2,686


11,181


8,059Filing
fees

2,735


1,035


4,485


2,283Financing
fees  Note 3

-


6,101


36,354


14,805Insurance

8,599


8,404


25,874


28,585Interest
and bank charges  Note 3

50,165


32,259


121,872


70,780Legal
and accounting  Note 3

37,639


28,336


37,690


59,558Office
and miscellaneous

48,306


8,656


60,878


17,252Rent

16,846


16,419


49,715


49,258Shareholder
information and printing

-


2,489


-


2,571Telephone
and utilities

1,140


1,690


3,480


4,793Transfer
agent fees

780


4,586


6,352


6,758Travel
and automotive

4,087


4,161


15,414


12,236336,588


281,420


684,780


577,658Net loss for the
period
$
(374,706
)
$
(291,498
)
$
(717,288
)
$
(718,041
)Basic and
diluted loss per share
$
(0.01
)
$
(0.01
)
$
(0.01
)
$
(0.01
)Weighted average
number of shares outstanding

55,520,207


39,605,361


50,456,333


39,605,361  SEE
ACCOMPANYING NOTES       ________________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
2________________________________________________________________________________________________________________________________________________________  SENSE TECHNOLOGIES INC.INTERIM STATEMENTS OF CASH FLOWS
for the nine months ended November 30, 2008 and 2007 (Stated in US
Dollars) ( Unaudited) 2008


2007
Restated 
Note 7Operating ActivitiesNet loss for the
period
$
(717,288
)
$
(718,041
)Adjustments to
reconcile net loss to net cash used in
Operating
activities:Depreciation

11,181


8,059Common
shares issued for services

122,000Impairment
of inventory

-


76,891Changes in non-cash
working capital balances related to operations:Accounts
receivable

(1,353
)

-Inventory

(82,605
)

(41,236
)Prepaids

5,241


(7,115
)Accounts
payable

235,834


230,107Advances
payable

(31,425
)

(30,650
)Net cash used in operating activities

(458,415
)

(481,985
)Investing ActivitiesPatent cost

-


(500
)Purchase of equipment

-


(42,225
)Net cash used in investing activities

-


(42,725
)Financing ActivitiesBorrowing on notes payable

441,273


377,036Repayments on notes
payable

(77,956
)

-Borrowings from bank
indebtedness

-


(8,965
)Proceeds from common
share subscriptions

95,000


160,500Net cash provided by financing activities

458,317


528,071Decrease in cash during the period

(98
)

3,361Cash, beginning of period

988


-Cash, end of period
$
890

$
3,361    SEE ACCOMPANYING
NOTES      ________________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
3________________________________________________________________________________________________________________________________________________________  SENSE TECHNOLOGIES INC.STATEMENT OF STOCKHOLDERS
DEFICIENCY for the period ended November 30, 2008 (Stated in US Dollars)
(Unaudited ) Common Stock


Preferred Stock





Promissory


Common



CommonIssued





Issued





Paid-in


Note


Stock


Subscriptions
Stock to


AccumulatedShares


Amount


Shares


Amount


Capital


Receivable


Subscribed


Receivable
Be
Issued


Deficit


TotalBalance,
February 28, 2007
45,575,551

$
12,362,142


315,914

$
315,914

$
62,529

$
(585,000
)
$
440,500

$
(891,432
)

$
(13,400,353
)
$
(1,695,700
)Common share
subscriptions



-





-


-


-


210,000


-



-


210,000Write-off of
promissory note  receivable



-


-


-


-


585,000


-


-



-


585,000Consulting
fees



-


-


-


-


-


-


-
88,889


-


88,889Management
Fees



-


-


-


74,800


-


-


-
200,000


-


200,000Dividends
-


-


-


-


-


-


-


-
-


(31,588
)

(31,588
)Net Loss for the
year



-


-


-


-


-


-


-
-


(2,041,704
)

(2,041,704
)Balance,
February 29, 2008
45,575,551


12,362,142


315,914


315,914


137,329


-


650,500


(891,432)
288,889


(15,473,645
)

(2,610,303
)Common share
subscriptions



( 524,016
)

-


-


-


-


95,000


524,016
-


-


95,000Common Stock
issued
5,329,100


275,584














(643,000
)

367,416






-Management fee
shares issued
2,500,000


200,000


-


-


-


-


-


-
(200,000
)

-


-Consulting
fees
3,000,000


100,000














-


-



-


100,000Royalties
Payable
2,200,000


132,000


-


-


-


-


-


-
-


-


132,000Dividends
-


-


-


-


-


-


-


-
-


(23,690
)

(23,690
)Net loss for the
period



-


-


-


-


-


-


-
-


(717,288
)

(717,288
)Balance,
November 30, 2008
58,604,651

$
12,545,710


315,914

$
315,914

$
137,329


-

$
102,500

$
-
$
88,889

$
(16,214,623
)
$
(3,024,281)    SEE ACCOMPANYING
NOTES          _______________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
4________________________________________________________________________________________________________________________________________________________  SENSE TECHNOLOGIES INC.NOTES TO THE INTERIM FINANCIAL
STATEMENTS November 30, 2008 (Stated in US Dollars) ( Unaudited) Note 1
Interim Reporting and Ability to Continue as a
Going ConcernThese financial statements have been prepared in accordance
with generally accepted accounting principles in the United States of
America on a going concern basis, which assumes that the Company will
continue to realize its assets and discharge its obligations and
commitments in the normal course of operations. Realization values may be
substantially different from carrying values as shown and these financial
statements do not give effect to adjustments that would be necessary to
the carrying values and classification of assets and liabilities should
the Company be unable to continue as a going concern.Our independent auditor included an
explanatory paragraph to highlight our uncertainly to continue as a going
concern in their February 28, 2008 audit opinion. Our auditor believes
such uncertainties still exist as of November 30, 2008.
While the
information presented in the accompanying nine months to November 30, 2008
financial statements is unaudited, it includes all adjustments which are,
in the opinion of management, necessary to present fairly the financial
position, results of operations and cash flows for the interim period
presented in accordance with accounting principles generally accepted in
the United States of America. In the opinion of management, all
adjustments considered necessary for a fair presentation of the results of
operations and financial position have been included and all such
adjustments are of a normal recurring nature. It is suggested that these
interim unaudited financial statements be read in conjunction with the
Companys audited financial statements for the year ended February 28,
2009.Operating
results for the nine months ended November 30, 2008, are not necessarily
indicative of the results that can be expected for the year ending
February 28, 2009.Note 2
Common Stocka)
Escrow:At November
30, 2008, there are 5,970,190 performance shares held in escrow by the
Companys transfer agent. Included in this amount are 3,250,000 escrow
shares to be earned out on the basis of one share for each $0.50 of cash
flow generated by the Company. Once these shares are earned out, the
remaining 2,720,190 escrow shares are to be earned out for each $5.00 of
cash flow generated by the Company. The release of these shares is subject
to the direction or determination of the relevant regulatory authorities.b)
Commitments:Stock-based Compensation
PlanThe Company
has granted employees and directors common share purchase options. These
options were granted with an exercise price equal to the market price of
the Companys stock on the date of the grant.November 30,


November 30,2008


2007Weighted





WeightedAverage





AverageExercise





ExerciseShares


Price


Shares


PriceOutstanding and
exercisable atbeginning of
period

1,025,000


$0.07


275,000


$0.91Expired

(25,000
)

(1.00
)

-


-Outstanding and
exercisable atend of the
period

1,000,000


$0.05


275,000


$0.91   ________________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
5________________________________________________________________________________________________________________________________________________________  At November 30, 2008, the following employee and director common
share purchase options were outstanding entitling the holders thereof the right
to purchase one common share for each share purchase option held:  Number
Exercise Price
Expiry Date1,000,000
$0.05
December 31, 2012 Common Stock
Subscribed For the nine months ended November 30, 2008, the Company has
received $95,000 in respect of private placements of 1,600,000 common share. As
at November 30, 2008, these shares had not been issued. c) Subscriptions Receivable: The Company had
recorded a subscription receivable. $367,416 is due from a shareholder from whom
one-half of the shares originally issued have already been recovered due to
non-payment of the subscription. Collection of these dollars is doubtful and has
been reclassified as a result. Another subscription receivable for $156,600 has
been written off during the quarter to settle a dispute with the shareholder.
 These shares were ultimately issued at above present market value and , in
addition, significant valuable services were obtained from the shareholder. d) Common Stock Issued: The company issued
3,000,000 shares to consultants valued at $100,000; 2,500,000 shares for
management fees valued at $200,000 and 2,200,000 shares for royalties valued at
$ 132,000. These values were based upon the closing price of the Companys stock
at the grant date.   Note 3
Related Party TransactionsThe Company incurred the
following items with directors and companies with common directors and
shareholders:Three months ended


Nine months endedNovember 30,


November 30,2008


2007


2008


2007Financing fee
$
-

$
-

$
36,354

$
-Royalties
$
30,000

$
30,000

$
90,000

$
90,000Interest expense
$
10,882

$
10,422

$
30,988

$
20,171  As of November 30, 2008, included in accounts payable is $33,774
(February 29, 2008: $33,495) owing to an accounting firm in which a director of
the Company is a partner and a shareholder with respect to unpaid fees and
interest on promissory notes,  $480,000 (February 29, 2008: $480,000) owing
to shareholders of the Company in respect of royalties payable with no interest
accruing, $213,500 (February 29, 2008: $233,500) owing to a director of the
Company in respect of royalties payable and $50,992 (February 29, 2008: $50,992)
owing to the former president of the Company in respect of unpaid wages.  As of November 30, 2008, included in advances payable is $8,625
(February 29, 2008: $40,050) owed to a company controlled by a director.  As of November 30, 2008, promissory notes payable of $407,500
(February 29, 2008: $345,000) is due to a profit-sharing and retirement plan
administeredby a director of the Company.
 Terms are: Due: June,
2009 $
   20,000 May,
2009 150,000 August,
2009 90,000 September,
2009 50,000 October,
2009 75,000 November,
2009 22,500 Total $
407,500 All bear
interest at 12% per annum.  _________________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
6_________________________________________________________________________________________________________________________________________________________  Note
4 Accounts Payable  and Accrued
Liabilities November 30, 2008
February 28, 2008Trade payables
$    311,046
$    304,372Accrued fees
130,000
130,000Accrued payroll
55,892
55,804Accrued interest payable
289,267
185,348Accrued non resident withholding taxes, including
accrued interest
109,960
109,960Accrued royalties payable
693,500
713,500Accrued taxes payable
19,079
19,139$ 
1,608,744
$  
1,518,123  Note 5 Additional Indebtedness  During the nine months ended November 30, 2008 we
incurred the following new loans:  Five Points
Bank 135,062 Wells Fargo
Bank 15,711 Business
Entity 218,000 Related
Party Profit Sharing 62,500 Personal
Advance 10,000 441,273  All of the loans are payable either on
demand or within the next year and bear interest at rates ranging from 7.5% to
10%. The notes are not convertible and did not include attached warrants.  Note 6 Non-Cash Transactions  Investing and financing activities that do
not have a direct impact on current cash flows are excluded from the statements
of cash flows.  The following transactions were excluded from the
statements of cash flows:  During the year ended February 29, 2008,
the Company granted 2,500,000 common shares to a director and an officer of the
Company.  The fair value of the services provided ($200,000) was recorded
as management fees.   In connection with a consulting services
agreement, the Company also granted 1,111,110 common shares with fair value of
$88,889, being $0.08 per share based on quoted market price of the common shares
as of February 29, 2008. In connection with royalties payable, the Company
granted 2,200,000 shares with a fair value of $132,000.  In connection with
consulting services agreement, the Company granted 2,000,000 shares with a fair
value of $40,000.  Note 7 Restatement of the
November 30, 2007 Interim Financial Statements  Pursuant to the Scope Out Mirror License
agreement, the Company is obligated to pay a royalty of 10% of the wholesale
price for each Scope Out Mirror sold which, in any event, shall not be less than
$2.00 per unit.  In order to retain the exclusive right to
manufacture, sell, deliver and install the Scope Out Mirror, the Company, in
accordance with the license agreement, is required to pay the royalty due on a
certain minimum quantity of units each year.  Prior to March 1, 2008, the Company had
been accruing the minimum royalty payable on an annual basis whereas the Company
should have been accruing the required minimum royalty every quarter. As a
result, the Company has restated its financial statements for the three and nine
months ended November 30, 2007 to reflect the minimum royalty payable of $30,000
due for the three months and $90,000 for the nine months then ended.  ________________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
7________________________________________________________________________________________________________________________________________________________   The following represents the Companys net loss as
previously reported and after giving effect to the restatement adjustments for
the three and nine months ended November 30, 2007:  Three
Months Ended Nine
Months Ended November
30,
                     November
30, 2007 2007  Net Loss for
the period as previously recorded $
(261,498) $ (628,041)  Royalties (30,000) (90,000)  As
restated $
(291,498) $ (718,041)  This restatement had no effect on the Statement of Cash
Flows or on the previously reported basic and diluted loss per share of $(0.00)
for the three and nine months ended November 30, 2007.  Note 8 Concentrations  The Company operates in one industry
segment being the production, marketing and distribution of safety awareness
products in the automotive industry. Substantially, all of the Companys
operations, and assets are located in the United States. During the nine months
ended November 30, 2008, there were three customers that accounted for $103,547
(87%) of sales revenue.  During the nine months ended November 30, 2007,
there were no significant customers that accounted for greater than 10% of the
sales revenue.  During the year ended February 29, 2008, there were two
customers that accounted for $32,485 (43%)  of sales revenue.         _______________________________________________________________________________________________________________________________________________________Sense
Technologies Inc. Form 10Q_30Nov2008_Q3 Page
8________________________________________________________________________________________________________________________________________________________