| DELAWARE                                 | 33-0824714                           |
|------------------------------------------|--------------------------------------|
| (State of Incorporation)                 | (I.R.S. Employer Identification No.) |
|                                     |                                 |
| 8885 Rehco Road, San Diego, California   | 92121                                |
| (Address of Principal Executive Offices) | (Zip Code)                           |

----

| BIO-MATRIX SCIENTIFIC GROUP, INC. AND SUBSIDIARIES                                                                                                                |           |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|
| (A Development Stage Company)                                                                                                                                     |           |
| Consolidated Balance Sheet                                                                                                                                        |           |
|                                                                                                                                                              |           |   |   |   |
|                                                                                                                                                              | March 31, 2010 |   | September 30, 2009 |   |
| (unaudited)                                                                                                                                                       |           |   |   |
|                                                                                                                                                              |           |   |   |   |
| ASSETS                                                                                                                                                            |           |
|                                                                                                                                                              |           |   |   |   |
| CURRENT ASSETS                                                                                                                                                    |           |   |   |   |
|    Cash                                                                                                                                            | $              | 750 |   | $ | 17,750 |   |
| Securities Available for sale                                                                                                                                     |           | - |   |   | - |   |
|    Pre-paid Expenses                                                                                                                               |           | 279,242 |   |   | 333,398 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|     Total Current Assets                                                                                                                      |           | 279,992 |   |   | 351,148 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| PROPERTY & EQUIPMENT (Net of Accumulated Depreciation)                                                                                                        |           | 538,868 |   |   | 538,868 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| Other Assets                                                                                                                                                      |           | 26,566 |   |   | 25,507 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| TOTAL ASSETS                                                                                                                                                      | $              | 845,426 |   | $ | 915,523 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                              |           |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| CURRENT LIABILITIES                                                                                                                                               |           |   |   |   |   |   |
|    Accounts payable                                                                                                                                | $              | 125,803 |   | $ | 227,377 |   |
| Bank Overdraft                                                                                                                                                    |           |   |   |   |   |   |
|    Notes Payable                                                                                                                                   |           | 42,486 |   |   | 397,322 |   |
|    Accrued Payroll                                                                                                                                 |           | 178,500 |   |   | 342,000 |   |
|    Accrued Payroll  taxes                                                                                                                |           | 25,909 |   |   | 24,044 |   |
|    Accrued Interest                                                                                                                                |           | 112,841 |   |   | 84,911 |   |
|    Accrued expenses                                                                                                                                |           | 5,000 |   |   | 5,000 |   |
| Current portion of Convertible Note                                                                                                                               |           | 333,400 |   |   | 503,400 |   |
| Current portion of Note to Affiliated Party                                                                                                                       |           | 1,000 |   |   | 1,000 |   |
|          Total Current Liabilities                                                                                   |           | 824,939 |   |   | 1,585,054 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| TOTAL LIABILITIES                                                                                                                                                 |           | 824,939 |   |   | 1,585,054 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| STOCKHOLDERS' EQUITY                                                                                                                                              |           |   |   |   |   |   |
| Preferred Stock ($.0001 par value                                                                                                                                 |           |   |   |   |   |   |
| 20,000,000 shares authorized;  2,975,478 and 2,865,743                                                                                                  |           | 286 |   |   | 300 |   |
| issued and outstanding as of September 30, 2009 and March 31, 2010                                                                                                |           |   |   |   |   |   |
| Series AA Preferred Stock ($0.0001 par value)                                                                                                                     |           |   |   |   |   |   |
| 100,000 shares authorized, 4852 issued and outstanding                                                                                                            |           |   |   |   |   |   |
| as of September 30, 2009 and March 31, 2010                                                                                                                       |           |   |   |   |   |   |
| Series B Preferred Shares ($0.0001 par value) 2,000,000 shares authorized,  725, 409 issued and outstanding as of September 30, 2009 and March 31, 2010 |           | 73 |   |   | 73 |   |
| Common Stock,  ($.0001  par value)                                                                                                            |           |   |   |   |   |   |
| 80,000,000 shares authorized;  69,202,111 and 43,728,375 shares issued and outstanding as of                                                            |           |   |   |   |   |   |
| March 31, 2010 and September 30, 2009                                                                                                                             |           | 6,920 |   |   | 4,371 |   |
| Additional paid in Capital                                                                                                                                        |           | 10,931,758 |   |   | 9,364,701 |   |
| Contributed capital                                                                                                                                               |           | 499,000 |   |   | 499,000 |   |
| Accumulated Other Comprehensive Income (Loss)                                                                                                                     |           |   |   |   |   |   |
| Deficit accumulated during the development stage                                                                                                                  |           | (11,229,508 | ) |   | (10,443,980 | ) |
| Deficit attributable to noncontrolling interest in subsidiary                                                                                                     |           | (188,042 | ) |   | (93,995 | ) |
|                                                                                                                                                              |           |   |   |   |   |   |
|      Total Stockholders' Equity (Deficit)                                                                                                |           | 20,487 |   |   | (669,530 | ) |
|                                                                                                                                                              |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| TOTAL LIABILITIES                                                                                                                                                 |           |   |   |   |   |   |
| & STOCKHOLDERS' EQUITY                                                                                                                                        | $              | 845,426 |   | $ | 915,523 |   |
|                                                                                                                                                              |           |   |   |   |   |   |
| The following Notes are an integral part of these Financial Statements                                                                                            |           |   |   |   |   |   |
|                                                                                                                                                              |           |   |   |   |   |   |

----

| BIO-MATRIX SCIENTIFIC GROUP, INC. AND SUBSIDIARIES                     |   |
|------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                          |   |
| Consolidated Statements of Operations                                  |   |
| (Unaudited)                                                            |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | Quarter Ended |   |   | Quarter Ended |   |   | Six Months ended |   |   | Six Months ended |   |   | From Inception |   |
|                                                                   |   | March 31, 2010 |   |   | March 31, 2009 |   |   | March 31, 2010 |   |   | March 31. 2009 |   |   | (August 2, 2005) |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   | through |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   | March 31, 2010 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Sales                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   | $      | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Revenues                                                         |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| COSTS AND EXPENSES                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Research and Development                                               |   |   | 128,254 |   |   |   | 36,147 |   |   |   | 172,749 |   |   |   | 79,775 |   |   |   | 959,806 |   |
| General and administrative                                             |   |   | 248,337 |   |   |   | 252,395 |   |   |   | 593,271 |   |   |   | 509,599 |   |   |   | 5,014,355 |   |
| Depreciation and amortization                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 2,668 |   |
| Consulting and professional fees                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | 27,656 |   |   |   | 403,289 |   |   |   | 55,385 |   |   |   | 465,589 |   |   |   | 4,685,775 |   |
| Impairment of goodwill & intangibles                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 34,688 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Costs and Expenses                                               |   |   | 404,247 |   |   |   | 691,831 |   |   |   | 821,405 |   |   |   | 1,054,963 |   |   |   | 10,697,292 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING LOSS                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | (404,247 | ) |   |   | (691,831 | ) |   |   | (821,405 | ) |   |   | (1,054,963 | ) |   |   | (10,697,292 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME & (EXPENSES)                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest Expense                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | (26,726 | ) |   |   | (30,457 | ) |   |   | (58,170 | ) |   |   | (56,047 | ) |   |   | (262,598 | ) |
| Interest Income                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 306 |   |
| Other income                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 30,100 |   |
| Loss on sale of Available for Sale Securities                          |   |   |   |   |   |   | (487,900 | ) |   |   |   |   |   |   | (487,900 | ) |   |   | (487,900 | ) |
| Other Expense                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (166 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Other Income & (Expenses)                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | (26,726 | ) |   |   | (518,357 | ) |   |   | (58,170 | ) |   |   | (543,947 | ) |   |   | (720,258 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  NET INCOME (LOSS)                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   | $      | (430,973 | ) |   | $ | (1,210,188 | ) |   | $ | (879,575 | ) |   | $ | (1,598,910 | ) |   | $ | (11,417,550 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (NET INCOME) LOSS attributable                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| to noncontrolling interest in                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Entest BioMedical, Inc.                                                |   |   | 41,293 |   |   |   |   |   |   |   | 94,047 |   |   |   |   |   |   |   | 188,042 |   |
| Net Loss attributable to common shareholders                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   | $      | (389,680 | ) |   | $ | (1,210,188 | ) |   | $ | (785,528 | ) |   | $ | (1,598,910 | ) |   | $ | (11,229,508 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| BASIC AND DILUTED EARNINGS (LOSS) PER SHARE                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   | $      | (0.0077 | ) |   | $ | (0.0380 | ) |   | $ | (0.0164 | ) |   | $ | (0.1430 | ) |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted Average Shares                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Outstanding                                          |   |   | 47,811,201 |   |   |   | 47,811,201 |   |   |   | 47,811,201 |   |   |   | 11,173,861 |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The Following Notes are an Integral Part of these Financial Statements |   |

----

|                                                                   |   |             |     |     |             |   |       | Inception           |   |
|------------------------------------------------------------------------|--------|------------------|----------|----------|------------------|--------|------------|---------------------|--------|
|                                                                   |   | Six Months Ended |     |     | Six Months Ended |   |       | (August 2, 2005) to |   |
|                                                                   |   | March 31, 2010   |     |     | March 31, 2009   |   |       | March 31, 2010      |   |
|                                                                   |   |             |     |     |             |   |       |                |   |
|                                                                   |   |             |     |     |             |   |       |                |   |
|                                                                   |   |             |     |     |             |   |       |                |   |
|                                                                   |   |             |     |     |             |   |       |                |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                   |   |             |     |     |             |   |       |
|                                                                   |   |             |     |     |             |   |       |                |   |
|                                                                   |   |             |     |     |             |   |       |                |   |
| Net Income (loss)                                                      |   | $                | (785,528 | )        |             | $      | (1,598,910 | )                   |   | $ | (11,229,508 | ) |
| Adjustments to reconcile net loss to net cash                          |   |             |     |     |             |   |       |                |   |   |   |   |
| (used in) provided by operating activities:                            |   |             |     |     |             |   |       |                |   |   |   |   |
| Depreciation expense                                                   |   |             |     |     |             |   |       |                |   |   | 2,667 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Stock issued for compensation to employees                             |   |             | 179,835  |     |             |   |       |                |   |   | 1,114,902 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Stock issued for services rendered by consultants                      |   |             | 47,000   |     |             |   | 313,210    |                |   |   | 4,020,734 |   |
| Stock issued for prepaid expenses                                      |   |             | 13,665   |     |             |   |       |                |   |   | 313,665 |   |
| Stock issued for interest                                              |   |             | 30,269   |     |             |   | 33,281     |                |   |   | 131,699 |   |
| Changes in operating assets and liabilities:                           |   |             |     |     |             |   |       |                |   |   |   |   |
| (Increase) decrease in receivables                                     |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| (Increase) decrease in prepaid expenses                                |   |             | 54,156   |     |             |   | 34,283     |                |   |   | (279,242 | ) |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Increase (Decrease) in Accounts Payable                                |   |             | (101,574 | )        |             |   | (26,667    | )                   |   |   | 125,803 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Increase (Decrease) in Accrued Expenses                                |   |             | (133,705 | )        |             |   | 175,231    |                |   |   | 352,197 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Increase (Decrease) in Other Comprehensive Income                      |   |             |     |     |             |   |       | (50,000             | )      |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Loss attributable to Non Controlling interest in                       |   |             |     |     |             |   |       |                |   |
|      subsidiary                               |   |             | (94,047  | )        |             |   |       |                |   |   | (188,042 | ) |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Net Cash Provided by (Used in) Operating Activities                    |   |             | (789,929 | )        |             |   | (1,069,572 | )                   |   |   | (5,685,125 | ) |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                   |   |             |     |     |             |   |       |                |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| ( Increase) Decrease in Deposits                                       |   |             | (1,059   | )        |             |   | (4,200     | )                   |   |   | (26,566 | ) |
| Purchases of fixed assets                                              |   |             |     |     |             |   |       |                |   |   | (541,536 | ) |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| (Additions) Decreases to Securities Available for Sale            |   |             |     | 500,000  |             |   |       | 50,000              |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Net Cash Provided by (Used in) Investing Activities                    |   |             | (1,059   | )        |             |   | 495,800    |                |   |   | (518,102 | ) |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                   |   |             |     |     |             |   |       |                |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Preferred Stock issued for cash                                        |   |             |     |     |             |   | 57         |                |   |   | 339 |   |
| Common stock issued for cash                                           |   |             |     |     |             |   | 158        |                |   |   | 1,630 |   |
| Common Stock issued for Debt                                           |   |             | 989,345  |     |             |   | 100,000    |                |   |   | 1,206,061 |   |
| Common Stock issued for Accrued Salaries                               |   |             | 304,500  |     |             |   |       |                |   |   | 424,500 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Additional paid in Capital                                             |   |             | 5,000    |     |             |   | 202,701    |                |   |   | 1,680,919 |   |
| Principal borrowings on notes and Convertible                          |   |             |     |     |             |   |       |                |   |
|     Debentures                                     |   |             | (354,836 | )        |             |   | 219,080    |                |   |   | 861,942 |   |
| Increase (Decrease) Due to Shareholder                                 |   |             |     |     |             |   | 50,000     |                |   |   |   |   |
| Convertible notes                                                      |   |             | (170,000 | )        |             |   |       |                |   |   | 333,400 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Contributed Capital                                                    |   |             |     |     |             |   | 499,000    |                |   |   | 499,000 |   |
| Increase (Decrease) in Bank Overdraft                                  |   |             | -        |     |             |   |       |                |   |   | - |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Net borrowings from related parties                                    |   |             |     |     |             |   |       |                |   |   | 1,195,196 |   |
| Increase (Decrease) in Notes from Affiliated party                     |   |             |     | (499,000 | )                |   |       | 1,000               |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Net Cash Provided by (Used in) Financing Activities                    |   |             | 774,009  |     |             |   | 571,996    |                |   |   | 6,203,987 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Net Increase (Decrease) in Cash                                        |   |             | (17,000  | )        |             |   | (1,776     | )                   |   |   | 750 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Cash at Beginning of Period                                            |   |             | 17,750   |     |             |   | 8,410      |                |   |   | - |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|  Cash at End of Period                                            |   | $                | 750      |     |             | $      | 6,621      |                |   | $ | 750 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| Supplemental  Cash Flow Disclosures:                         |   |             |     |     |             |   |       |                |   |   |   |   |
| Significant non-cash activities:                                       |   |             |     |     |             |   |       |                |   |   |   |   |
| Stock issued to cancel debt                                            |   |             |     |     |             |   |       |                |   |   | 2,044,592 |   |
| Preferred stock issued for stock dividend                              |   |             |     |     |             |   |       |                |   |   | 108 |   |
| Total                                                                  |   |             |     |     |             |   |       |                |   |   | 2,044,700 |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
|                                                                   |   |             |     |     |             |   |       |                |   |   |   |   |
| The Following Notes are an integral part of these Financial Statements |   |             |     |     |             |   |       |                |   |

----

| As of March 31 ,2010             |
|----------------------------------|
|                             |   |   |   |
| Deferred tax assets:             |   |   |   |
| Net operating tax carry forwards |   | $ | 4,009,656 |   |
| Other                            |   |   | -0- |   |
| Gross deferred tax assets        |   |   | 4,009,656 |   |
| Valuation allowance              |   |   | (4,009,656) |   |
|                             |   |   |   |   |
| Net deferred tax assets          |   | $ | -0- |   |

----

----

----

| Flow Cytometer (4 Color) (BD Facscanto)                          |
|------------------------------------------------------------------|
| Laboratory computer system/also for enrollments/storage tracking |
| Hematology Analyzer (celldyne 1800)(ABBOTT)                      |
| Laminar Flow Hood 4 ft ( Clean hood) (2)                         |
| Bench top centrifuges (2) refrigerated                           |
| Small equipment (lab set-up)                                     |
| Microscope                                                       |
| Tube heat sealers (2 ea)                                         |
| Barcode printer and labeling device                              |
|                                                             |

----

----

| (a)   | decreased .professional and consulting fees incurred by us |
|-----------------|------------------------------------------------------------|

| (b)   | loss on sale of available for sale securities partially offset by |
|-----------------|-------------------------------------------------------------------|

| (c)   | increased research  and development expenses, interest expense, and  losses attributable to noncontrolling interest in Entest BioMedical, Inc. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | decreased .professional and consulting fees incurred by us |
|-----------------|------------------------------------------------------------|

| (e)   | loss on sale of available for sale securities partially offset by |
|-----------------|-------------------------------------------------------------------|

| (f)   | increased research and development expenses, general and administrative expenses, interest expenses and losses attributable to noncontrolling interest in Entest BioMedical, Inc. |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

| 31.1   | Certification of Chief Executive Officer                                                             |
|--------|------------------------------------------------------------------------------------------------------|
|   |                                                                                                 |
| 31.2   | Certification of Acting Chief Financial Officer                                                      |
|   |                                                                                                 |
| 32.1   | Certification of Chief Executive Officer under Section 906 of the Sarbanes-Oxley Act of 2002.        |
|   |                                                                                                 |
| 32.2   | Certification of Acting Chief Financial Officer under Section 906 of the Sarbanes-Oxley Act of 2002. |

|       | Bio- Matrix Scientific Group, Inc. |
|------------|------------------------------------|
|       | a Delaware corporation             |
|       |                               |
| By:   | /s/ David R. Koos                  |
|       | David R. Koos                 |
|       | Chief Executive Officer            |
|       | Date: May 3, 2010                  |

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