UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

AMENDMENT 1 to

FORM 10-K

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

  For the fiscal year ended December 31, 2011

Or

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

  For the transition period from _________ to _____________

Commission file number: 000-53835

FAIRWAY PROPERTIES, INC.

 (Exact name of registrant as specified in its charter)
| Nevada

41-2251802

State or other jurisdiction of incorporation or organization

I.R.S. Employer Identification No.

340 S Lemon Ave #5353, Walnut, CA 91789

 (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code:

(866-532-4792)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class registered

Name of each exchange on which registered

Not Applicable

Not Applicable

Securities registered pursuant to Section 12(g) of the Act:

Common Stock

(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes |_| No |X|

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. |_|

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 |_| No |X|

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data file required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 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 if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (ss. 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. |X|

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

Large accelerated 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|

On May 4, 2012, the 348,750 shares of common stock were held by non-affiliates and had a value of $69,750 based on the average closing bid and ask of $0.20 per share.

There were 1,404,000 shares issued and outstanding of the registrant's Common Stock as of May 4, 2012.

EXPLANATORY NOTE - AMENDMENT

The sole purpose of this Amendment to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2011 is to revise the Controls and Procedures in accordance with Item 307 and 308 of Regulation S-K.

No other changes have been made to the 10-K, and this Amendment has not been updated to reflect events occurring subsequent to the filing of the 10-K.

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TABLE OF CONTENTS

PART I

ITEM 1 Business

4

ITEM 1A Risk Factors

13

ITEM 1B Unresolved Staff Comments

22

ITEM 2 Properties

22

ITEM 3 Legal Proceedings

22

ITEM 4 Mine Safety Disclosure

23

PART II

ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

23

ITEM 6 Selected Financial Data

24

ITEM 7 Management's Discussion and Analysis of Financial Condition and Results of Operations

24

ITEM 7A Quantitative and Qualitative Disclosures about Market Risk

28

ITEM 8 Financial Statements and Supplementary Data

28

ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

28

ITEM 9A Controls and Procedures

28

ITEM 9B Other Information

30

PART III

ITEM 10 Directors, Executive Officers, and Corporate Governance

30

ITEM 11 Executive Compensation

34

ITEM 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

37

ITEM 13 Certain Relationships and Related Transactions, and Director Independence

39

ITEM 14 Principal Accounting Fees and Services

40

PART IV

ITEM 15 Exhibits, Financial Statement Schedules

41

SIGNATURES

52

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FORWARD LOOKING STATEMENTS

This document includes forward-looking statements, including, without limitation, statements relating to Fairway Properties, Inc. ("Fairway") plans, strategies, objectives, expectations, intentions and adequacy of resources. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Fairway's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These factors include, among others, the following: ability of Fairway's to implement its business strategy; ability to obtain additional financing; Fairway's limited operating history; unknown liabilities associated with future acquisitions; ability to manage growth; significant competition; ability to attract and retain talented employees; and future government regulations; and other factors described in this document or in other of Fairway's filings with the Securities and Exchange Commission. Fairway is under no obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information about these and other risks, uncertainties and factors, please review the disclosure included in this report under Item 1A "Risk Factors."

PART I

ITEM 1. BUSINESS

General

The following is a summary of some of the information contained in this document. Unless the context requires otherwise, references in this document to "We," Us," or the "Company" are to Fairway Properties, Inc.

About Fairway Properties, Inc.

Fairway Properties, Inc. ("We," "Us," "Our," or "Fairway") was incorporated under the laws of the State of Nevada on September 10, 2007. It is a Nevada corporation organized for the purpose of offering real estate professionals and advertisers a reliable, high quality, niche marketing tool, www.FairwayProperties.com (the "Website"). Our website is not incorporated as part of this document.

We completed development and begun operation of our website in 2010. Through the website, we capitalize on the unique features of e-business technology. It enables professionals and advertisers to deliver information about golf properties and related real estate matters to prospective buyers. Buyers can quickly locate, view, and evaluate properties anywhere and anytime they have internet access. We provide an efficient and 

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mutually beneficial means for real estate professionals and advertisers to conduct business with prospective real estate buyers and sellers.

We have begun initial operations. We have no employees at the present time. We outsource website and customer support through Niche Technologies Inc. (formerly known as Niche Properties) ("Niche Technologies"), a majority shareholder of the Company. Currently, the executive officers of the Company contribute their services and are not receiving salaries at this time.

From incorporation through July 31, 2009, we worked with Niche Technologies to develop and refine a website that we could use to advertise golf course real estate listings. After several iterations of the website, Niche Technologies delivered a functioning system in late July 2009 that could perform all the necessary functionality.

Fairway's Core Services

 o Online marketing of property listings for paying listors

 o Property search capabilities for buyers (and connecting them with listors)

 o Advertising (banners/rich media)

 o Affiliation marketing offering links and advertising to affiliates within the FairwayProperties.com community

Niche Technologies, Inc. License

On October 26, 2007, we entered into a Technology License Agreement ("License") with Niche Technologies, Inc., our majority shareholder. Niche Technologies operates our Website. Niche Technologies is a Colorado company that is owned and operated by Michael D. Murphy, Sean Murphy, and Darren Murphy, officers, directors and shareholders of the Company.

The Licensed products and services include:

 (a) Domain Names: FairwayProperties.com, FairwayProperty.com, Fairway-Properties.com, and Fairway-Property.com

 (b) FairwayProperties.com Website: Includes initial site production, general site maintenance, and use of the web application and database.

The License has a term of ten years and is from the effective date, and thereafter, shall be automatically renewable for successive 1 year periods, unless 60 days prior to the termination any party hereto gives written notice to the other party of its election not to renew this Agreement for an additional 1 year period, in which event the License shall terminate at the end of the period in which such notice was given. The Royalty Rate is 

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25% of all membership and advertising revenues. On March 5, 2010, we agreed to amend the License Agreement with Niche Technologies to:

 (a) Waive all prior owing Guaranteed Minimum Royalties;

 (b) Eliminate the $10,000.00 annual Guaranteed Minimum Royalty;

 (c) Pay a new Guaranteed Minimum Royalty of $500 per month beginning with March 2010; and

 (d) Provide us the ability to resell services provided by Niche Properties, for which we will submit 75% of the revenues from these services to Niche Properties.

Our financial strategy has been to maintain a low overhead and to cross promote to existing client management relationships. We will pay 25% of all our core revenues on a monthly basis as a license fee to Niche Technologies and 75% of our affiliate revenues on a monthly basis as an affiliate fee to Niche Technologies.

STRATEGY AND SALES SUMMARY

Services Competitive Advantage

Vertical Search - The recent trend of vertical search (a methodology allowing users to search across specialized and targeted fields) is changing the online real estate market. It saves users time and effort, and delivers more meaningful search results.

Site Design and Usability - Our website includes professional programming, code, and design. Most competitors in this niche market use websites that lack the usability of our website. Visitors to websites choose to leave or stay in a matter of moments. By showcasing our site, we plan to retain visitors to our site, which we believe will increase page views and traffic.

SALES STRATEGY

Salesforce - The majority of the sales cycle will be processed through the Customer Relationship Management (CRM) application Salesforce.com. We will track leads, create accounts, run reports, and pursue sales campaigns through this application. Leads will be generated through golf course community networks, viral marketing, cold calling, and email campaigns. All information for these processes will be tracked through Salesforce. The use of Salesforce.com is provided by Niche Technologies.

Search Engine Optimization - We use search engine optimization techniques to improve search rankings and drive traffic to the Website. These will include providing rich content 

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on the site, using appropriate descriptions, titles, keywords, and meta data in the page source code, and generating links from external sites with appropriate anchor text.

Search Engine Marketing - Through our website Licensor, Niche Technologies, we use highly scalable and efficient pay-per-click techniques. These consist of targeting keywords that buyers and sellers of real estate often use on search engines, and then creating advertisements that will appear when someone searches for those keywords across all major search engines, including Google, Bing, and Yahoo.

Niche Properties Network Reselling - FairwayProperties.com is a member of the Niche Properties Network, a collection of real estate websites focused on lifestyle real estate. Several members of the network offer packages that include listing syndication to FairwayProperties.com. When a listing syndication deal is done by a member website, we receive a percentage of the revenue for placing the listings on FairwayProperties.com.

Listing Packages

We offer two types of listing packages for individual property listors. The first, our pay-per-listing package, is geared towards those wishing to list a finite amount of properties for a finite period of time. The second, our subscription package, caters to those wishing to list unlimited properties for as long as they want. Listings purchased under both packages receive the same benefits on FairwayProperties.com, which include:

 (1) Property listing page with photos and information about the property

 (2) Link to the property listor's website

 (3) Property listor contact information displayed with property listing

 (4) Custom FairwayProperties.com url that is indexed by search engines

We also offer two programs geared toward real estate brokerages: our Company Listing Plan and our Company Partnership Plan.

Company Listing Plans:

These plans are designed for companies wishing to display all of their properties on one or more sites within the Niche Properties Network. Listing Plans include the following: (1) data feed of unlimited listings displayed on the FairwayProperties.com, (2) company profile page with contact information and logo, and (3) syndication to two additional sites within the Niche Properties Network.

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Company Partnership Plans:

These plans are designed for companies wishing to promote FairwayProperties.com to its agents in exchange for the following:

 (1) a referral fee for each agent that registers on the website

 (2) Co-branded welcome page which describes the agent listing packages

 (3) All Company agents receive 20% off regular listing package prices;

  and

 (4) No monetary fees for Companies.

Companies participating in the Partnership Plan must (1) place a link to FairwayProperties.com on its website homepage or partner page and (2) send at least one email to its agents promoting the partnership.

COMPETITION, MARKETS AND REGULATION

Competition.

We compete through the use of our website, an easy to use web application that provides real estate professionals and advertisers a reliable, high quality alternative to traditional offline real estate marketing. The Company is a B2B business. We sell online marketing and advertising to real estate companies and businesses. Further, the website can also be considered a B2C2C business. This term means we (a business) sell listings to individual real estate professionals (consumers) who can then use the website to market and advertise to their customers (consumers). We use the term B2C2C to show how our model helps individual real estate professionals target their potential clients. However, by strict definition we are a B2B business since we sell marketing and advertising services to business and real estate professionals acting on behalf of their business.

While our management team has significant business experience, we, as a company, have no proven track record in the internet based real estate marketing industry. We can provide no assurance that we will be able to successfully market a commercially viable product or compete in this industry.

We will potentially compete with numerous providers of real estate software and real estate services companies such as, GolfCourseHome.net, GolfCourseRealty.com, GolfHomeConnect.com, and GolfHomes.com. Recently, two of our top competitors shifted their business model from a free listing service to a pay-for listing service. We believe this shift validates our model but may pose a competitive threat if we are not able to execute our marketing and advertising campaigns.

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Markets.

Our target market consists of real estate agents, for-sale-by-owner sellers, brokerages, and golf communities that may require marketing and advertising services for properties on or near golf courses worldwide.

  Brokerages

A brokerage that signs up on the site can display any of its niche related properties on the website. Some brokerages have numerous fairway properties while others have only a few. The website will initially target those brokerages with a significant amount of listings.

  Agents

If a brokerage does not sign up, an individual broker or agent may want an account and/or profile to market his listings and/or himself. We will create a brokerage company account (as a placeholder) to associate that agent in system. This will create an additional brokerage lead for us. If the agent chooses the standard account, only his listings will appear on the site. If he upgrades to a premium account, then the agent will get a profile on the site. Since most agents only have a few niche listings it will be very easy for them to personally upload their information to the site.

  Golf Communities

These are companies that build, operate, and/or manage exclusive gated golf course communities. These communities are a major market segment. It will be much easier to market our services to a community built around the same niche as we promote. We intend to provide these companies value by marketing to their target audience.

  Owners

"For-sale-by-owner" listors are typically private sellers who have undertaken the marketing of their properties without the assistance of a real estate professional to save on commission costs. Any for-sale-by-owner listor will be able to list his property on the site for a fee.

CURRENT OPERATIONAL STATUS

Our business plan has been to earn revenue from the sale of property and agent listings on our web site, as well as reselling services offered through the Niche Properties Network, such as property and agent listings on other niche websites and Luxury Property Blog advertising.

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With the completion of our website, we have only generated minimal revenues of the last two years, not enough to support the ongoing operations of the Company or to support growth activities. Given the current state of the real estate industry, management believes that the Company's ability to generate revenue solely through its current operational activities is limited until the real estate industry for such properties begins to improve. In that regard, management has expanded is business plan as discussed below.

We intend to obtain debt and, or, equity finance to meet our ongoing operating expenses and attempt to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There is and can be no assurance that these events can be successfully completed. In particular there is no assurance that any such business will be located or that any stockholder will realize any return on their shares after such a transaction. Any merger or acquisition completed by us can be expected to have a significant dilutive effect on the percentage of shares held by our current stockholders.

We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors. 

We intend to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to us by persons or firms which desire to seek the advantages of an issuer who has complied with the Securities Act of 1934 (the "1934 Act"). We will not restrict our search to any specific business, industry or geographical location, and we may participate in business ventures of virtually any nature. This discussion of our proposed business is purposefully general and is not meant to be restrictive of our unlimited discretion to search for and enter into potential business opportunities. We anticipate that we may be able to participate in only one potential business venture because of our lack of financial resources.

We may seek a business opportunity with entities which have recently commenced operations, or that desire to utilize the public marketplace in order to raise additional capital in order to expand into new products or markets, to develop a new product or service, or for other corporate purposes. We may acquire assets and establish wholly owned subsidiaries in various businesses or acquire existing businesses as subsidiaries.

We expect that the selection of a business opportunity will be complex. Due to general economic conditions, rapid technological advances being made in some industries and shortages of available capital, we believe that there are numerous firms seeking the benefits of an issuer who has complied with the 1934 Act. Such benefits may include 

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facilitating or improving the terms on which additional equity financing may be sought, providing liquidity for incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all stockholders and other factors.  Potentially, available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. We have, and will continue to have, essentially no assets to provide the owners of business opportunities. However, we will be able to offer owners of acquisition candidates the opportunity to acquire a controlling ownership interest in an issuer who has complied with the 1934 Act without incurring the cost and time required to conduct an initial public offering.

The analysis of new business opportunities will be undertaken by, or under the supervision of, our Board of Directors. We intend to concentrate on identifying preliminary prospective business opportunities which may be brought to our attention through present associations of our director, professional advisors or by our stockholders. In analyzing prospective business opportunities, we will consider such matters as (i) available technical, financial and managerial resources; (ii) working capital and other financial requirements; (iii) history of operations, if any, and prospects for the future; (iv) nature of present and expected competition; (v) quality, experience and depth of management services; (vi) potential for further research, development or exploration; (vii) specific risk factors not now foreseeable but that may be anticipated to impact the proposed activities of the company; (viii) potential for growth or expansion; (ix) potential for profit; (x) public recognition and acceptance of products, services or trades; (xi) name identification; and (xii) other factors that we consider relevant. As part of our investigation of the business opportunity, we expect to meet personally with management and key personnel. To the extent possible, we intend to utilize written reports and personal investigation to evaluate the above factors.

We will not acquire or merge with any company for which audited financial statements cannot be obtained within a reasonable period of time after closing of the proposed transaction.

Acquisition Opportunities

In implementing a structure for a particular business acquisition, we may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another company or entity. We may also acquire stock or assets of an existing business. Upon consummation of a transaction, it is probable that our present management and stockholders will no longer be in control of us. In addition, our current directors may, as part of the terms of the acquisition transaction, resign and be replaced by new directors without a vote of our stockholders, or our controlling shareholder may sell his stock in us. 

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Any such sale will only be made in compliance with the securities laws of the United States and any applicable state.

It is anticipated that any securities issued in any such reorganization would be issued in reliance upon exemption from registration under application federal and state securities laws. In some circumstances, as a negotiated element of the transaction, we may agree to register all or a part of such securities immediately after the transaction is consummated or at specified times thereafter. If such registration occurs, it will be undertaken by the surviving entity after it has successfully consummated a merger or acquisition and is no longer considered a shell company. The issuance of substantial additional securities and their potential sale into any trading market which may develop in our securities may have a depressive effect on the value of our securities in the future. There is no assurance that such a trading market will develop.

While the actual terms of a transaction cannot be predicted, it is expected that the parties to any business transaction will find it desirable to avoid the creation of a taxable event and thereby structure the business transaction in a so-called "tax-free" reorganization under Sections 368(a)(1) or 351 of the Internal Revenue Code (the "Code"). In order to obtain tax-free treatment under the Code, it may be necessary for the owner of the acquired business to own 80% or more of the voting stock of the surviving entity. In such event, our stockholders would retain less than 20% of the issued and outstanding shares of the surviving entity. This would result in significant dilution in the equity of our stockholders.

Investment Company Act 1940

Although we will be subject to regulation under the Securities Act of 1933, as amended, and the 1934 Act, we believe we will not be subject to regulation under the Investment Company Act of 1940 (the "1940 Act") insofar as we will not be engaged in the business of investing or trading in securities. In the event we engage in business combinations that result in us holding passive investment interests in a number of entities, we could be subject to regulation under the 1940 Act. In such event, we would be required to register as an investment company and incur significant registration and compliance costs. We have obtained no formal determination from the SEC as to our status under the 1940 Act and, consequently, any violation of the 1940 Act would subject us to material adverse consequences. We believe that, currently, we are exempt under Regulation 3a-2 of the 1940 Act.

Governmental Regulation.

Due to the increasing popularity and use of the Internet, it is possible that a number of laws and regulations may be adopted with respect to the Internet generally, covering issues such as user privacy, pricing, and characteristics and quality of products and 

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services. Similarly, the growth and development of the market for Internet commerce may prompt calls for more stringent consumer protection laws that may impose additional burdens on those companies conducting business over the Internet. The adoption of any such laws or regulations may decrease the growth of commerce over the Internet, increase our cost of doing business or otherwise have a harmful effect on our business.

Currently, governmental regulations have not materially restricted the use or expansion of the Internet. However, the legal and regulatory environment that pertains to the Internet is uncertain and may change. New and existing laws may cover issues that include:

 * Sales and other taxes;

 * User privacy;

 * Pricing controls;

 * Characteristics and quality of products and services;

 * Consumer protection;

 * Cross-border commerce;

 * Libel and defamation;

 * Copyright, trademark and patent infringement; and

 * Other claims based on the nature and content of Internet materials.

These new laws may impact Niche Technologies ability to develop and our ability to market the website application in accordance with our business plan.

ITEM 1A. RISK FACTORS

FORWARD LOOKING STATEMENTS

This document includes forward-looking statements, including, without limitation, statements relating to Fairway's plans, strategies, objectives, expectations, intentions and adequacy of resources. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Fairway actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These factors include, among others, the following: ability of Fairway to implement its business strategy; ability to obtain additional financing; Fairway's limited operating history; unknown liabilities associated with future acquisitions; ability to manage growth; significant competition; ability to attract and retain talented employees; and future government regulations; and other factors described in this document or in other of Fairway filings with the Securities and Exchange Commission. Fairway is under no obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Risk Factors

GENERAL BUSINESS RISK FACTORS

OUR COMPANY RISK FACTORS

Each prospective investor should carefully consider the following risk factors, as well as all other information set forth elsewhere in this prospectus, before purchasing any of the shares of our common stock.

1.  We incorporated and now operate the Company during a severe real estate downturn, amidst poor general economic conditions.

After boom years during the mid 2000's, the real estate industry has suffered difficult times the past several years. Fewer houses have sold, times on market have increased, overall price levels have dropped, and the number of real estate agents has declined as many professionals have moved to different industries to find enough work to make ends meet. Further, less people are looking to buy real estate given the uncertain economic outlook and general condition of the economy.

2.  We have a lack of revenue history and have a limited performance history since we are a start-up development stage company.

We were incorporated on September 10, 2007 for the purpose of engaging in any lawful business and have adopted a plan to offer real estate professionals and advertisers a reliable, high quality, niche marketing tool, FairwayProperties.com that enables professionals and advertisers to deliver information about golf properties and related real estate matters to prospective buyers. We have had only nominal revenues since incorporation and only subsequent to December 31, 2009. During the year ended December 31, 2010, revenues decreased from $1,136 in 2010 to $500 for the year ended December 31, 2011.

Such revenue has not been enough to support operations and we have only seen insignificant increases or growth in revenue over prior year. We are not profitable and the business effort is considered to be in an early development stage. We must be regarded as a new or development venture with all of the unforeseen costs, expenses, problems, risks and difficulties to which such ventures are subject.

3.  We can give no assurance of success or profitability.

There is no assurance that we will ever operate profitably. There is no assurance that we will generate profits or that the market price of our common stock will be increased thereby.

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4.  We may have a shortage of working capital in the future which could jeopardize our ability to carry out our business plan.

Our capital needs consist primarily of expenses related to development and marketing costs for an on-line golf course real estate sales tool, licensing fees from Niche Technologies for a website and domain names, and to fund the costs and fees associated with being a smaller reporting company and could exceed $75,000 in the next twelve months. We have cash as of the date of this filing of approximately $814.

Our ultimate success depends upon our ability to generate revenue. If we are unable to generate sufficient revenues, we may need to raise additional capital. We have not investigated the availability, source, or terms that might govern the acquisition of additional capital and will not do so until we determine a need for additional financing. If we need additional capital, we have no assurance that funds will be available from any source or, if available, that they can be obtained on terms acceptable to us. If not available, our operations will be limited to those that can be financed with our modest capital.

5.  We intend to pursue the acquisition of an operating business.

Part of our operational plan is to acquire an operating business. Successful implementation of this strategy depends on our ability to identify a suitable acquisition candidate, acquire such company on acceptable terms and integrate its operations. In pursuing acquisition opportunities, we compete with other companies with similar strategies. Competition for acquisition targets may result in increased prices of acquisition targets and a diminished pool of companies available for acquisition. Acquisitions involve a number of other risks, including risks of acquiring undisclosed or undesired liabilities, acquired in-process technology, stock compensation expense, diversion of management attention, potential disputes with the seller of one or more acquired entities and possible failure to retain key acquired personnel. Any acquired entity or assets may not perform relative to our expectations. Our ability to meet these challenges has not been established.

At the time of this filing, we have not executed any formal arrangement, agreement or understanding with respect to engaging in a merger with, joint venture with or acquisition of a private or public entity. There can be no assurance that we will be successful in identifying and evaluating suitable business opportunities or in concluding a business combination. We have not identified any particular industry or specific business within an industry for evaluation. There is no assurance we will be able to negotiate a business combination on terms favorable, if at all.

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We have not established a specific length of operating history or specified level of earnings, assets, net worth or other criteria which we will require a target business opportunity to have achieved, and without which we would not consider a business combination. Accordingly, we may enter into a business combination with a business opportunity having no significant operating history, losses, limited or no potential for earnings, limited assets, negative net worth or other negative characteristics.

6.  Scarcity of, and competition for, business opportunities and combinations

We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. Nearly all such entities have significantly greater financial resources, technical expertise and managerial capabilities than us and, consequently, we will be at a competitive disadvantage in identifying possible business opportunities and successfully completing a business combination. Moreover, we will also compete in seeking merger or acquisition candidates with numerous other small public companies. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors.

7.  We may in the future issue more shares which could cause a loss of control by our present management and current stockholders.

We may issue further shares as consideration for the cash or assets or services out of our authorized, but unissued, common stock that would, upon issuance, represent a majority of the voting power and equity of our Company. The result of such an issuance would be those new stockholders and management would control our Company, and persons unknown could replace our management at this time. Such an occurrence would result in a greatly reduced percentage of ownership of our Company by our current shareholders, which could present significant risks to investors.

8.  Our Officers and Directors are related to one another and are the majority shareholders of the Company. As such there is a possibility of them controlling the Company to the detriment of outsiders.

Messrs. Michael D. Murphy, Sean Murphy and Darren Murphy are brothers. They are officers, directors and shareholders of the Company. In addition, they are the majority shareholders of Niche Technologies, the majority shareholder of our Company. As such they will be able to control the operations and the direction of the Company with very little outside influence.

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9.  Our officers and directors may have conflicts of interest which may not be resolved favorably to us.

Certain conflicts of interest may exist between us and our officers and directors. Our Officers and Directors have other business interests to which they devote their attention and may be expected to continue to do so although management time should be devoted to our business. As a result, conflicts of interest may arise that can be resolved only through exercise of such judgment as is consistent with fiduciary duties to us. Our officers are spending part-time in this business - up to 10 hours per week.

10.  Our officers and directors are not employed full-time by us which could be detrimental to the business.

Our directors and officers are, or may become, in their individual capacities, officers, directors, controlling shareholder and/or partners of other entities engaged in a variety of businesses. Thus, our officers and directors may have potential conflicts including their time and efforts involved in participation with other business entities. Each officer and director of our business is engaged in business activities outside of our business, and the amount of time they devote as Officers and Directors to our business will be up to 10 hours per week.

We do not know of any reason other than outside business interests that would prevent them from devoting full-time to our Company, when the business may demand such full-time participation.

11.  Our officers and directors may have conflicts of interests as to corporate opportunities which we may not be able or allowed to participate in.

Presently there is no requirement contained in our Articles of Incorporation, Bylaws, or minutes which requires officers and directors of our business to disclose to us business opportunities which come to their attention. Our officers and directors do, however, have a fiduciary duty of loyalty to us to disclose to us any business opportunities which come to their attention, in their capacity as an officer and/or director or otherwise. Excluded from this duty would be opportunities which the person learns about through his involvement as an officer and director of another company. We have no intention of merging with or acquiring business opportunity from any affiliate or officer or director.

12.  We have agreed to indemnification of officers and directors as is provided by Nevada Statute.

Nevada Statutes provide for the indemnification of our directors, officers, employees, and agents, under certain circumstances, against attorney’s fees and other expenses incurred by them in any litigation to which they become a party arising from their association with 

17

or activities our behalf. We will also bear the expenses of such litigation for any of our directors, officers, employees, or agents, upon such person's promise to repay us therefore if it is ultimately determined that any such person shall not have been entitled to indemnification. This indemnification policy could result in substantial expenditures by us that we will be unable to recoup.

13.  Our directors' liability to us and shareholders is limited.

Nevada Revised Statutes exclude personal liability of our directors and our stockholders for monetary damages for breach of fiduciary duty except in certain specified circumstances. Accordingly, we will have a much more limited right of action against our directors than otherwise would be the case. This provision does not affect the liability of any director under federal or applicable state securities laws.

RISK FACTORS RELATING TO OUR BUSINESS

14.  We are dependent on the web application provided by Niche Technologies to provide the functionality for our website. If the Niche Technologies web application contains programming errors or defects, it would adversely affect our reputation and cause us to lose customers.

The development and operation of our website requires that we be integrated with the Niche Technologies web application. There is a risk that the system integration and software programming that we receive from Niche Technologies will contain errors and defects including errors and defects in the system's security subsystem that we will not be able to discover until we commence operations with a particular version of the system software. The website may develop system errors or defects or security failures that cause harm to our users' data. Problems experienced by users and loss of users data and business processes will adversely impact our reputation and ability to earn revenues, to retain existing customers or to develop new customers.

15.  If we are not able to adapt to rapid technology changes affecting our website and continually upgrade the services and offerings of our website to outperform our competition, we may not be able to attract or retain customers and our business will fail.

We will rely on Niche Technologies, to continually update the website's technology once we emerge from the beta stage in order to address technological changes. The market for websites such as ours is subject to rapid technological changes; frequent new service offerings and changes in customer requirements. We may be unable to respond quickly or effectively to these changes, as we rely on Niche Technologies for our website. If Niche 

18

Technologies is unable to update and refine our website and services once the beta stage is complete in response to technological changes, we may then not be able to attract or retain customers and our business will fail.

16.  If Niche Technologies is unable to refine the FairwayProperties.com web site or we are unable to develop a market for our internet website, our ability to generate revenue would be limited.

Our website is currently in the beta development stage. Sales have commenced in this stage but we believe it best to complete testing of the website prior to commencing full commercial operations in order to ensure that the website is functioning properly and is capable of being marketed to the public. If we are unable to complete these final website developments, we will not be able to market our program or earn revenues to the level we desire.

17.  We will experience substantial competition for supplies in the business technology industry.

We will be required to compete with a large number of entities which are larger, have greater resources and more extensive operating histories than we do. Shortages of supplies may result from this competition and will lead to increased costs and delays in operations which will have a material adverse effect on us.

18.  We may depend upon outside advisors, who may not be available on reasonable terms and as needed.

To supplement the business experience of our officers and directors, we may be required to employ accountants, technical experts, appraisers, attorneys, or other consultants or advisors. Our Board without any input from stockholders will make the selection of any such advisors. Furthermore, we anticipate that such persons will be engaged on an "as needed" basis without a continuing fiduciary or other obligation to us. In the event we consider it necessary to hire outside advisors, we may elect to hire persons who are affiliates, if they are able to provide the required services.

RISK FACTORS RELATED TO OUR STOCK

19.  Because Michael D. Murphy, our CEO, and Sean Murphy, one of our directors, and Darren Murphy, our Secretary, control approximately 56% of our outstanding common stock, they will control and make corporate decisions and investors will have limited ability to affect corporate decisions.

At December 31, 2011, Michael, Sean and Darren Murphy control approximately 56% of our outstanding common stock.

19

Michael Murphy has control of approximately 43% of the outstanding shares of common stock beneficially through Niche Technologies our majority shareholder. This beneficial ownership, combined with his individual holdings in Fairway, gives him almost complete influence in determining the outcome of all corporate transactions and business decisions. The interests of Mr. Murphy may differ from the interests of the other stockholders, and since he has the ability to control most decisions through his control of our common stock, our investors will have limited ability to affect decisions made by management.

20.  The regulation of penny stocks by SEC and FINRA may discourage the tradability of our securities.

We are a "penny stock" company. Our common stock trades on the OTCQB Market and are subject to a Securities and Exchange Commission rule that imposes special sales practice requirements upon broker-dealers who sell such securities to persons other than established customers or accredited investors. For purposes of the rule, the phrase "accredited investors" means, in general terms, institutions with assets in excess of $5,000,000, or individuals having a net worth in excess of $1,000,000 or having an annual income that exceeds $200,000 (or that, when combined with a spouse's income, exceeds $300,000). For transactions covered by the rule, the broker-dealer must make a special suitability determination for the purchaser and receive the purchaser's written agreement to the transaction prior to the sale. Effectively, this discourages broker-dealers from executing trades in penny stocks. Consequently, the rule will affect the ability of purchasers in this offering to sell their securities in any market that might develop therefore because it imposes additional regulatory burdens on penny stock transactions.

In addition, the Securities and Exchange Commission has adopted a number of rules to regulate "penny stocks". Such rules include Rules 3a51-1, 15g-1, 15g-2, 15g-3, 15g-4, 15g-5, 15g-6, 15g-7, and 15g-9 under the Securities and Exchange Act of 1934, as amended. Because our securities constitute "penny stocks" within the meaning of the rules, the rules would apply to us and to our securities. The rules will further affect the ability of owners of shares to sell our securities in any market that might develop for them because it imposes additional regulatory burdens on penny stock transactions.

Shareholders should be aware that, according to Securities and Exchange Commission, the market for penny stocks has suffered in recent years from patterns of fraud and abuse. Such patterns include (i) control of the market for the security by one or a few broker-dealers that are often related to the promoter or issuer; (ii) manipulation of prices through prearranged matching of purchases and sales and false and misleading press releases; (iii) "boiler room" practices involving high-pressure sales tactics and unrealistic price projections by inexperienced sales persons; (iv) excessive and undisclosed bid-ask differentials and markups by selling broker-dealers; and (v) the wholesale dumping of the same securities by promoters and broker-dealers after prices have been manipulated to a 

20

desired consequent investor losses. Our management is aware of the abuses that have occurred historically in the penny stock market. Although we do not expect to be in a position to dictate the behavior of the market or of broker-dealers who participate in the market, management will strive within the confines of practical limitations to prevent the described patterns from being established with respect to our securities.

21.  We will pay no foreseeable dividends in the future.

We have not paid dividends on our common stock and do not ever anticipate paying such dividends in the foreseeable future.

22.  Our shareholders may suffer future dilution due to issuances of shares for various considerations in the future.

There may be substantial dilution to our shareholders as a result of future decisions of the Board to issue shares without shareholder approval for cash, services, or acquisitions.

23.  Fairway's stock will in all likelihood be thinly traded and as a result an investor may be unable to sell at or near ask prices or at all if the investor needs to liquidate shares.

The shares of Fairway's common stock is thinly-traded in the OTCQB, meaning that the number of persons interested in purchasing Fairway's common shares at or near ask prices at any given time may be relatively small or non-existent. This situation is attributable to a number of factors, including the fact that Fairway is a small company which is relatively unknown to stock analysts, stock brokers, institutional investors and others in the investment community that generate or influence sales volume, and that even if Fairway came to the attention of such persons, they tend to be risk-averse and would be reluctant to follow an unproven, early stage company such as Fairway or purchase or recommend the purchase of any of Fairway's securities until such time as Fairway becomes more seasoned and viable. As a consequence, there may be periods of several days or more when trading activity in Fairway's securities is minimal or non-existent, as compared to a seasoned issuer which has a large and steady volume of trading activity that will generally support continuous sales without an adverse effect on securities price. The Company cannot give you any assurance that a broader or more active public trading market for Fairway's common securities will develop or be sustained, or that any trading levels will be sustained. Due to these conditions, Fairway can give investors no assurance that they will be able to sell their shares at or near ask prices or at all if the investor needs money or otherwise desires to liquidate the securities of Fairway.

24.  Trading in our shares in the public market will most likely be volatile because of factors beyond our control.

21

There can be no assurance that our shares will continue to be quoted on the OTCQB or that if they are, there will be an active trading market for the shares. Accordingly, it could be difficult for holders of our common stock to liquidate their shares.

The market price of our common stock could be subject to significant fluctuations and the market price could be subject to any of the following factors:

 o our failure to achieve and maintain profitability;

 o changes in earnings estimates and recommendations by financial analysts;

 o actual or anticipated variations in our quarterly and annual results of operations;

 o changes in market valuations of similar companies;

 o announcements by us or our competitors of significant contracts, new services, acquisitions, commercial relationships, joint ventures or capital commitments;

 o loss of significant clients or customers;

 o loss of significant strategic relationships; and

 o general market, political and economic conditions.

In the past, following periods of extreme volatility in the market price of a company's securities, securities class action litigation has often been instituted. A securities class action suit against us could result in substantial costs and divert our management's time and attention, which would otherwise be used to benefit our business.

ITEM 1B. UNRESOLVED STAFF COMMENTS

Not applicable.

ITEM 2. PROPERTIES

Our executive offices are located at 340 S Lemon Ave #5353, Los Angeles, CA 91789 and the telephone number is (866) 532-4792; and the fax number is (866) 789-4653. At this time Niche Technologies allows Fairway to use its offices for its operations without charge.

ITEM 3. LEGAL PROCEEDINGS

Fairway anticipates that it (including any future subsidiaries) will from time to time become subject to claims and legal proceedings arising in the ordinary course of business. It is not feasible to predict the outcome of any such proceedings and Fairway cannot assure that their ultimate disposition will not have a materially adverse effect on Fairway's business, financial condition, cash flows or results of operations. As of the filing of this document, we are not a party to any pending legal proceedings, nor are we aware of any civil proceeding or government authority contemplating any legal proceeding.

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ITEM 4. MINING SAFETY DISCLOSURE

Not applicable.

PART II

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

There is a limited public trading market for the common stock. On March 18, 2011, the Company's common stock was accepted for trading by FINRA on the OTCQB and was assigned the symbol is "FRYP" on the OTC/QB.

The following table sets forth the range of high and low sales prices for the Company's common stock for each of the fiscal quarters for the past year as reported on the OTC Markets' OTCQB and the OTC Bulletin Board. These prices represent inter-dealer prices without adjustments for mark-up, mark-down, or commission and do not necessarily reflect actual transactions.

High

Low

Year Ended December 31, 2011

First quarter

$    -

$    -

Second quarter

0.20

0.20

Third quarter

0.20

0.20

Fourth quarter

0.20

0.20

Holders

As of December 31, 2011, we have approximately 43 shareholders of record of our common stock.

Sales under Rule 144 are also subject to manner of sale provisions and notice requirements and to the availability of current public information about us. Under Rule 144(k), a person who has not been one of our affiliates at any time during the three months preceding a sale, and who has beneficially owned the shares proposed to be sold for at least 6 months, is entitled to sell shares without complying with the manner of sale, volume limitation or notice provisions of Rule 144.

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Dividend Policy

As of the filing of this annual report, we have not paid any dividends to shareholders. There are no restrictions which would limit our ability to pay dividends on common equity or that are likely to do so in the future. The Nevada Revised Statutes, however, do prohibit us from declaring dividends where, after giving effect to the distribution of the dividend; we would not be able to pay our debts as they become due in the usual course of business; or our total assets would be less than the sum of the total liabilities plus the amount that would be needed to satisfy the rights of shareholders who have preferential rights superior to those receiving the distribution.

Recent Sales of Unregistered Securities

During the years ended December 31, 2011 and 2010, we made no sale or issuance of our unregistered securities.

Issuer Purchases of Equity Securities

Fairway did not repurchase any shares of its common stock during the year ended December 31, 2011.

ITEM 6. SELECTED FINANCIAL DATA

Not applicable.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS

OF OPERATIONS

MANAGEMENTS' DISCUSSION AND ANALYSIS

The following discussion should be read in conjunction with our audited financial statements and notes thereto included herein.

This discussion contains forward-looking statements, such as statements relating to our financial condition, results of operations, plans, objectives, future performance and business operations. These statements relate to expectations concerning matters that are not historical facts. These forward-looking statements reflect our current views and expectations based largely upon the information currently available to us and are subject to inherent risks and uncertainties. Although we believe our expectations are based on reasonable assumptions, they are not guarantees of future performance and there are a 

24

number of important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. By making these forward-looking statements, we do not undertake to update them in any manner except as may be required by our disclosure obligations in filings we make with the Securities and Exchange Commission under the Federal securities laws. Our actual results may differ materially from our forward-looking statements.

The independent registered public accounting firm's report on the Company's financial statements as of December 31, 2011 includes a "going concern" explanatory paragraph that describes substantial doubt about the Company's ability to continue as a going concern.

PLAN OF OPERATIONS

Plan of Operations

Fairway is a development stage company and has minimal revenue producing activities. Niche Properties delivered a website with the necessary functionality for us to generate revenue in late July 2009. We worked with Niche Properties throughout 2009 to refine the website and prepare it for operations.

Since the website launched, our business plan has been to earn revenue from the sale of property and agent listings on our web site, as well as reselling services offered through the Niche Properties Network, such as property and agent listings on other niche websites and Luxury Property Blog advertising.

With the completion of our website, we have only generated minimal revenues of the last two years, not enough to support the ongoing operations of the Company or to support growth activities. Given the current state of the real estate industry, management believes that the Company's ability to generate revenue solely through its current operational activities is limited until the real estate industry for such properties begins to improve. In that regard, management has expanded is business plan as discussed below.

We intend to obtain debt and, or, equity finance to meet our ongoing operating expenses and attempt to merge with another entity with experienced management and opportunities for growth in return for shares of our common stock to create value for our shareholders. There is can be no assurance that these events can be successfully completed. In particular there is no assurance that any such business will be located or that any stockholder will realize any return on their shares after such a transaction. Any merger or acquisition completed by us can be expected to have a significant dilutive effect on the percentage of shares held by our current stockholders.

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We believe we are an insignificant participant among the firms which engage in the acquisition of business opportunities. There are many established venture capital and financial concerns that have significantly greater financial and personnel resources and technical expertise than we have. In view of our limited financial resources and limited management availability, we will continue to be at a significant competitive disadvantage compared to our competitors.

We intend to seek, investigate and, if such investigation warrants, acquire an interest in business opportunities presented to us by persons or firms which desire to seek the advantages of an issuer who has complied with the Securities Act of 1934 (the "1934 Act"). We will not restrict our search to any specific business, industry or geographical location, and we may participate in business ventures of virtually any nature. This discussion of our proposed business is purposefully general and is not meant to be restrictive of our unlimited discretion to search for and enter into potential business opportunities. We anticipate that we may be able to participate in only one potential business venture because of our lack of financial resources.

The independent registered public accounting firm's report on the Company's financial statements as of December 31, 2011, and for each of the years in the two-year period then ended, includes a "going concern" explanatory paragraph, that describes substantial doubt about the Company's ability to continue as a going concern.

RESULTS OF OPERATIONS

For the Year Ended December 31, 2011 compared to the Year Ended December 31, 2010.

During the years ended December 31, 2011 we recognized revenues of $500 from our operational activities compared to $1,136 from our operational activities during the year ended December 31, 2010. The decrease of $636 in revenues is both a result of the Company's inability to fund and expand it marketing activities due to a lack of funding and the depressed real estate market.

During the year ended December 31, 2011, we incurred operational expenses of $35,006 compared to $53,188 during the year ended December 31, 2010. The decrease of $18,182 was a result the Company's decreased activities, significantly the $18,536 decrease in professional fees offset by $800 increase in licensing fees.

During the year ended December 31, 2011, we incurred a net loss of $34,506 compared to a net loss of $52,054 during the year ended December 31, 2010. The decrease of $17,548 was a result of the $18,182 decrease in operational expenses combined with the $636 decrease in revenues, discussed above.

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LIQUIDITY

At December 31, 2011, we had total current assets of $814, consisting solely of cash. At December 31, 2011, we had current liabilities of $49,312, consisting solely of accounts payable. At December 31, 2011, we had working capital deficit of $48,498.

During the year ended December 31, 2011, we used $10,508 in our operating activities. During the year ended December 31, 2011, net losses of $34,506 were not adjusted for any non-cash items. During the year ended December 31, 2011, accounts payable and accrued interest increased by $23,998.

During the year ended December 31, 2010, we used $27,453 in our operating activities. During the year ended December 31, 2010, net losses of $52,054 were not adjusted for any non-cash items. During the year ended December 31, 2010, accounts payable and accrued interest increased by $24,601.

During the years ended December 31, 2011 and 2010, we did not use or receive funds from any investing activities.

During the years ended December 31, 2011 and 2010, we did not use or receive funds from financing activities.

Going Concern

The independent registered public accounting firm's report on the Company's financial statements as of December 31, 2011, and for each of the years in the two-year period then ended, includes a "going concern" explanatory paragraph, that describes substantial doubt about the Company's ability to continue as a going concern.

Capital Resources

We have only common stock as our capital resource.

We have no material commitments for capital expenditures within the next year.

Need for Additional Financing

We do not have capital sufficient to meet our cash needs on a long-term basis. Based on our current cash reserves of $814 at December 31, 2011, we have an operational budget of less than one year. If this does not prove to be sufficient to cover our operational needs, we may have to seek loans or equity placements to cover such cash needs. We are 

27

dependent on our majority-shareholder Niche Technologies to provide the platform and the technical support for our website

No commitments to provide additional funds have been made by our management or other stockholders. Accordingly, there can be no assurance that any additional funds will be available to us to allow it to cover our expenses as they may be incurred or if needed.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Fairway's operations do not employ financial instruments or derivatives which are market sensitive. Short term funds are held in non-interest bearing accounts and funds held for longer periods are placed in interest bearing accounts. Large amounts of funds, if available, will be distributed among multiple financial institutions to reduce risk of loss. Our cash holdings do not generate any significant interest income.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The audited financial statements of Fairway Properties, Inc. for the years ended December 31, 2011 and 2010, period from September 10, 2007 (inception) through December 31, 2011 starts on page 42.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

Not applicable.

ITEM 9A. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures:

We maintain disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act that are designed to insure that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer, or the persons performing similar functions, to allow timely decisions regarding required disclosure.

Under the supervision and with the participation of our CEO and CFO, or the persons performing similar functions, our management has evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this annual 

28

report. Based on that evaluation, our CEO and CFO, or the persons performing similar functions, concluded that our disclosure controls and procedures were effective as of December 31, 2011.

Management’s Annual Report on Internal Control over Financial Reporting:

Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control over financial reporting is the process designed by and under the supervision of our CEO and CFO, or the persons performing similar functions, to provide reasonable assurance regarding the reliability of our financial reporting and the preparation of our financial statements for external reporting in accordance with accounting principles generally accepted in the United States of America.  Management has evaluated the effectiveness of our internal control over financial reporting using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control over Financial Reporting – Guidance for Smaller Public Companies.

Under the supervision and with the participation of our CEO and CFO, or the persons performing similar functions, our management has assessed the effectiveness of our internal control over financial reporting as of December 31, 2011, and concluded that it is effective.

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 the registrant’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the registrant to provide only management’s report in this annual report.

Evaluation of Changes in Internal Control over Financial Reporting:

Under the supervision and with the participation of our CEO and CFO, or those persons performing similar functions, our management has evaluated changes in our internal controls over financial reporting that occurred during the fourth quarter of 2011.  Based on that evaluation, our CEO and CFO, or those persons performing similar functions, did not identify any change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Important Considerations:

The effectiveness of our disclosure controls and procedures and our internal control over financial reporting is subject to various inherent limitations, including cost limitations, judgments used in decision making, assumptions about the likelihood of future events, the soundness of our systems, the possibility of human error, and the risk of fraud. 

29

Moreover, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions and the risk that the degree of compliance with policies or procedures may deteriorate over time. Because of these limitations, there can be no assurance that any system of disclosure controls and procedures or internal control over financial reporting will be successful in preventing all errors or fraud or in making all material information known in a timely manner to the appropriate levels of management.

ITEM 9B. OTHER INFORMATION

Not applicable.

PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The following table sets forth information as to persons who currently serve as Fairway's directors or executive officers, including their ages as of December 31, 2011.

Name

Age

Position

Term

Michael D. Murphy

30

Chief Executive Officer, Treasurer, and Director

Annual

Sean Murphy

27

President and Director

Annual

Darren Murphy

26

Secretary

Annual

Edward Sigmond

53

Director

Annual

Michael D. Murphy, Sean Murphy and Darren Murphy are brothers.

Presently, Messrs. Murphy, Murphy, and Murphy are employed by and involved in the management of and are owners of Niche Technologies. Additionally, Niche Technologies, is a majority shareholder of Fairway.

Fairway officers are elected by the board of directors at the first meeting after each annual meeting of Fairway shareholders and hold office until their successors are duly elected and qualified under Fairway bylaws.

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The directors named above will serve until the next annual meeting of Fairway's stockholders. Thereafter, directors will be elected for one-year terms at the annual stockholders' meeting. Officers will hold their positions at the pleasure of the board of directors absent any employment agreement. There is no arrangement or understanding between the directors and officers of Fairway and any other person pursuant to which any director or officer was or is to be selected as a director or officer.

The directors and officers of Fairway will devote part-time (up to 10 hours weekly) to Fairway's affairs.

Biographical Information

MICHAEL D. MURPHY, age 30, is Chief Executive Officer, Treasurer and a Director of Fairway Properties, Inc.

Mr. Murphy oversees all technology and management for Fairway Properties Inc. His experience includes co-founding and operating companies in the real estate, technology and luxury industries. He co-founded Luxurio Inc. in 2006. He is currently employed at Niche Technologies, Inc., which he co-founded in 2007. Michael began his entrepreneurial career as Chief Financial Officer at a Denver real estate start-up (2005-2006) and served a term at the Financial Accounting Standards Board (2005) as a postgraduate assistant. He is an active Certified Public Accountant and inactive licensed real estate broker. Mr. Murphy holds BBA and MS in Accountancy degrees from the University of Notre Dame's Mendoza College of Business, where he graduated as the valedictorian of both his respective classes (2004 & 2005)

SEAN MURPHY, age 27, is President and a Director of Fairway Properties, Inc.

Mr. Murphy oversees all business development, sales and marketing initiatives for Fairway Properties Inc. His experience includes working with technology and start-up companies in the real estate, video and luxury industries. He joined Michael and Robert Murphy at Niche Technologies Inc. in 2007. He is currently employed at Niche Technologies, Inc. Before joining Niche Technologies, Inc., Sean was a full-time student at the University of Notre Dame. As a student he has founded a personal finance consulting company. He holds a B.A. in Theology and Psychology from the University of Notre Dame. Mr. Murphy served as the Corporate Secretary from inception through July 1, 2008.

DARREN MURPHY, age 26, is Secretary of Fairway Properties, Inc.

Mr. Murphy was appointed Secretary of Fairway Properties, Inc. on July 1, 2008. He manages company training and human resource initiatives for Fairway Properties, Inc. 

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His experience includes administering websites in various industries, including online real estate, video distribution, and network marketing. Mr. Murphy joined Niche Technologies, Inc. in 2008. Mr. Murphy graduated from the University of Colorado at Boulder in 2008 with a BA in Psychology and minors in Neurological Sciences and Pre-Professional Studies. Before 2008, Mr. Murphy was a full-time student.

EDWARD SIGMOND, age 53, is a Director of Fairway Properties, Inc.

Mr. Sigmond is a partner in Sigmond and Johnson, Inc., a Dallas based investment banking firm specializing in working with public micro cap companies. He's been with Sigmond and Johnson, Inc since conception in 2006. He founded the Great American Food Chain, Inc. in 2003 and currently serves as President and Chairman of the Board. Mr. Sigmond also owns Kestrel Holdings, Inc., a real estate and equity investment company which he founded in 1999. His properties are typically concentrated in the retail, entertainment and restaurant/bar markets. He is a member of the Board of Directors of MultiCell Technology, Inc., a publicly held biotech company and has served in this capacity since 2000. He founded and served as president of American Machine and Bearing (1992-1996) and Specialty Food Products (1987-1990) both of Dallas, Texas. Other positions include Assistant to President of Alpha Aviation, Dallas, Texas (1990-1992) and VP/Regional Manager of Geodata Corporation, Houston, Texas (1981-1987). He has held executive sales, marketing and operations management positions for nearly 25 years. Our officers are spending up to 10 hours per week on our business at this time. At such time as the Company is financially capable of paying salaries, it is anticipated that management will assume full time roles in the Company's operations and be paid accordingly or find additional managers that will be accordingly.

Committees of the Board of Directors

Fairway is managed under the direction of its board of directors.

  Executive Committee

The members of the Board of Directors serve as its executive committee.

  Audit Committee

The members of the Board of Directors serve as its audit committee.

Previous "Blank Check" or "Shell" Company Involvement

Management of Fairway has not been involved in prior private "blank-check" or "shell" companies.

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Conflicts of Interest - Niche Technologies

Our Officers and Directors are related to one another and are the majority shareholders of the Company. As such there is a possibility of them controlling the Company to the detriment of outsiders.

Messrs. Michael D. Murphy, Sean Murphy and Darren Murphy are brothers. Together, Michael, Sean, and Darren Murphy are majority shareholders of Niche Technologies, Inc., the majority shareholder of our Company, As such they will be able to the control the operations and the direction of the Company with very little outside influence. Our third Director, Ed Sigmond, is not related to the Murphy family.

Presently, Messrs. Murphy, Murphy, and Murphy are employed by and involved in the management of and are owners of Niche Technologies, Inc.

Conflicts of Interest - General.

Our directors and officers are, or may become, in their individual capacities, officers, directors, controlling shareholder and/or partners of other entities engaged in a variety of businesses. Thus, there exist potential conflicts of interest including, among other things, time, efforts and corporate opportunities involved in participation with such other business entities. While each officer and director of our business is engaged in business activities outside of our business, the amount of time they devote to our business will be up to approximately 10 hours per week.

Conflicts of Interest - Corporate Opportunities

Presently no requirement contained in our Articles of Incorporation, Bylaws, or minutes which requires officers and directors of our business to disclose to us business opportunities which come to their attention. Our officers and directors do, however, have a fiduciary duty of loyalty to us to disclose to us any business opportunities which come to their attention, in their capacity as an officer and/or director or otherwise. Excluded from this duty would be opportunities which the person learns about through his involvement as an officer and director of another company. We have no intention of merging with or acquiring an affiliate, associate person or business opportunity from any affiliate or any client of any such person.

Annual Meeting

The annual meeting of Fairway stockholders is expected to be held at a future date as soon as practicable. This will be an annual meeting of stockholders for the election of 

33

directors. The annual meeting will be held at the Fairway's principal office or at such other place as permitted by the laws of the State of Nevada and on such date as may be fixed from time to time by resolution of Fairway board of directors.

ITEM 11. EXECUTIVE COMPENSATION

The following table sets forth the compensation paid to officers and board members during the fiscal years ended December 31, 2011, 2010 and 2009. The table sets forth this information for Fairway, including salary, bonus, and certain other compensation to the Board members and named executive officers for the past three fiscal years and includes all Board Members and Officers as of December 31, 2011.

The officers and directors of the Company do not intend to receive cash remuneration or salaries for their efforts unless and until the Company's business operations are profitable, at which time salaries and other remuneration will be established by the Board of Directors, as appropriate.

SUMMARY COMPENSATION TABLE

Name & Position

Year

Salary ($)

Bonus ($)

Stock awards ($)

Option awards ($)

Non-equity incentive plan compensation($)

Non-qualified deferred compensation earnings ($)

All other compensation ($)

Total ($)

Michael D. Murphy

2011

0

0

0

0

0

0

0

0

CEO and

2010

0

0

0

0

0

0

0

0

Treasurer (1)

2009

0

0

0

0

0

0

0

0

Sean Murphy

2011

0

0

0

0

0

0

0

0

President (2)

2010

0

0

0

0

0

0

0

0

2009

0

0

0

0

0

0

0

0

 (1) Michael and Sean Murphy are employees of Niche Technologies.

OPTION/SAR GRANTS IN THE LAST FISCAL YEAR

Fairway does not have a stock option plan as of the date of this filing. There was no grant of stock options to the Chief Executive Officer and other named executive officers during the fiscal years ended December 31, 2011 and 2010.

Employment Contracts and Termination of Employment and Change-in-Control Arrangements

34

There are no employment contracts, compensatory plans or arrangements, including payments to be received from us, with respect to any of our directors or executive officers which would in any way result in payments to any such person because of his or her resignation, retirement or other termination of employment with us, any change in control of us, or a change in the person's responsibilities following such a change in control.

Compensation Committee Interlocks and Insider Participation

The Fairway board of directors in its entirety acts as the compensation committee for Fairway.

Stock Option Plan

The Company does not have or intend to develop a stock option plan at this time.

    Director Compensation

The following table sets forth certain information concerning compensation paid to our directors for services as directors, but not including compensation for services as officers reported in the "Summary Compensation Table" during the year ended December 31, 2011:

Name

Fees earned or paid in cash ($)

Stock awards ($)

Option awards ($)

Non-equity incentive plan compensation ($)

Non-qualified deferred compensation earnings ($)

All other compensation ($)

Total ($)

Michael D. Murphy

$0

$0

$0

$0

$0

$0

$0

Sean Murphy

$0

$0

$0

$0

$0

$0

$0

Edward Sigmond

$0

$0

$0

$0

$0

$0

$0

All of our officers and/or directors will continue to be active in other companies. All officers and directors have retained the right to conduct their own independent business interests.

It is possible that situations may arise in the future where the personal interests of the officers and directors may conflict with our interests. Such conflicts could include determining what portion of their working time will be spent on our business and what portion on other business interest. To the best ability and in the best judgment of our officers and directors, any conflicts of interest between us and the personal interests of 

35

our officers and directors will be resolved in a fair manner which will protect our interests. Any transactions between us and entities affiliated with our officers and directors will be on terms which are fair and equitable to us. Our Board of Directors intends to continually review all corporate opportunities to further attempt to safeguard against conflicts of interest between their business interests and our interests.

We have no intention of merging with or acquiring an affiliate, associated person or business opportunity from any affiliate or any client of any such person.

At this time, our Directors do not receive compensation for serving on the Fairway Board of Directors. Our directors were issued shares of common stock upon their initial appointment to the Board of Directors in September 2007.

Limitation on Liability and Indemnification

Fairway is a Nevada corporation. The Nevada Revised Statutes (NRS) provides that the articles of incorporation of a Nevada corporation may contain a provision eliminating or limiting the personal liability of a director to the corporation or its shareholders for monetary damages for breach of fiduciary duty as a director, except that any such provision may not eliminate or limit the liability of a director (i) for any breach of the director's duty of loyalty to the corporation or its shareholders, (ii) acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) acts specified in Section 78 (concerning unlawful distributions), or (iv) any transaction from which a director directly or indirectly derived an improper personal benefit. Fairway articles of incorporation contain a provision eliminating the personal liability of directors to Fairway or Fairway shareholders for monetary damages to the fullest extent provided by the NRS.

The NRS provides that a Nevada corporation must indemnify a person who was wholly successful, on the merits or otherwise, in defense of any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and whether formal or informal (a "Proceeding"), in which he or she was a party because the person is or was a director, against reasonable expenses incurred by him or her in connection with the Proceeding, unless such indemnity is limited by the corporation's articles of incorporation. Fairway articles of incorporation do not contain any such limitation.

The NRS provides that a Nevada corporation may indemnify a person made a party to a Proceeding because the person is or was a director against any obligation incurred with respect to a Proceeding to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan) or reasonable expenses incurred in the Proceeding if the person conducted himself or herself in good faith and the person reasonably believed, in the case of conduct in an official capacity with the corporation, 

36

that the person's conduct was in the corporation's best interests and, in all other cases, his or her conduct was at least not opposed to the corporation's best interests and, with respect to any criminal proceedings, the person had no reasonable cause to believe that his or her conduct was unlawful. The Company's articles of incorporation and bylaws allow for such indemnification. A corporation may not indemnify a director in connection with any Proceeding by or in the right of the corporation in which the director was adjudged liable to the corporation or, in connection with any other Proceeding charging that the director derived an improper personal benefit, whether or not involving actions in an official capacity, in which Proceeding the director was judged liable on the basis that he or she derived an improper personal benefit. Any indemnification permitted in connection with a Proceeding by or in the right of the corporation is limited to reasonable expenses incurred in connection with such Proceeding.

The NRS, unless otherwise provided in the articles of incorporation, a Nevada corporation may indemnify an officer, employee, fiduciary, or agent of the corporation to the same extent as a director and may indemnify such a person who is not a director to a greater extent, if not inconsistent with public policy and if provided for by its bylaws, general or specific action of its board of directors or shareholders, or contract. Fairway articles of incorporation provide for indemnification of directors, officers, employees, fiduciaries and agents of Fairway to the full extent permitted by Nevada law.

Fairway articles of incorporation also provide that Fairway may purchase and maintain insurance on behalf of any person who is or was a director or officer of Fairway or who is or was serving at the request of Fairway as a director, officer or agent of another enterprise against any liability asserted against him or her and incurred by him or her in any such capacity or arising out of his or her status as such, whether or not Fairway would have the power to indemnify him or her against such liability.

EQUITY COMPENSATION PLAN INFORMATION

The Company has not established an equity compensation plan or Incentive Stock Option Plan.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table sets forth information with respect to the beneficial ownership of Fairway outstanding common stock by:

 o each person who is known by Fairway to be the beneficial owner of five percent (5%) or more of Fairway common stock;

37

 o Fairway chief executive officer, its other executive officers, and each director as identified in the "Management -- Executive Compensation" section; and

 o all of the Company's directors and executive officers as a group.

Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock and options, warrants and convertible securities that are currently exercisable or convertible within 60 days of the date of this document into shares of Fairway common stock are deemed to be outstanding and to be beneficially owned by the person holding the options, warrants or convertible securities for the purpose of computing the percentage ownership of the person, but are not treated as outstanding for the purpose of computing the percentage ownership of any other person.

The information below is based on the number of shares of Fairway common stock that Fairway believes was beneficially owned by each person or entity as of December 31, 2011.

There are currently 140,000,000 common shares authorized of which 1,404,000 are outstanding.

Title of Class

Name and Address of Beneficial Owner

Amount and Nature of Beneficial Owner*

Percent of Class

Common Shares

Niche Technologies, Inc. (beneficially Michael D. Murphy, Sean Murphy and Darren Murphy)

600,000

42.73%

340 S. Lemon Ave  #5353

Walnut, CA 91789

Common Shares

Darren Murphy, Secretary

72,000

5.12%

340 S. Lemon Ave #5353

Walnut, CA 91789

Common Shares

Michael D. Murphy, CEO/ Treasurer and Director

58,000

4.13%

340 S. Lemon Ave #5353

Walnut, CA 91789

38

Common Shares

Sean Murphy, President and Director

58,000

4.13%

340 S. Lemon Ave #5353

Walnut, CA 91789

Common Shares

Edward Sigmond, Director

81,250

5.79%

2808 Cole Avenue

Dallas, TX 75204

Common Shares

Kestrel Holdings, Inc. (beneficially Edward Sigmond)

186,000

13.24%

2808 Cole Avenue

Dallas, TX 75204

Officers and Directors (4 individuals)

1,055,250

75.16%

*Rule 13d-3 under the Securities Exchange Act of 1934 governs the determination of beneficial ownership of securities. That rule provides that a beneficial owner of a security includes any person who directly or indirectly has or shares voting power and/or investment power with respect to such security. Rule 13d-3 also provides that a beneficial owner of a security includes any person who has the right to acquire beneficial ownership of such security within sixty days, including through the exercise of any option, warrant or conversion of a security. Any securities not outstanding which are subject to such options, warrants or conversion privileges are deemed to be outstanding for the purpose of computing the percentage of outstanding securities of the class owned by such person. Those securities are not deemed to be outstanding for the purpose of computing the percentage of the class owned by any other person. The Company does not have an options or warrants outstanding at December 31, 2009.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Other than the stock transactions discussed below, we have not entered into any transaction nor are there any proposed transactions in which any of our founders, directors, executive officers, shareholders or any members of the immediate family of any of the foregoing had or is to have a direct or indirect material interest.

License Agreements

On October 26, 2007, we entered into a Technology License Agreement ("License") with Niche Technologies, Inc., our majority shareholder. Niche Technologies owns and operates our website. Niche Technologies is a Colorado company that is owned and operated by Michael D. Murphy, Sean Murphy, and Darren Murphy.

39

On March 5, 2010, we agreed to amend the License Agreement with Niche Technologies to:

 (a) Waive all prior owing Guaranteed Minimum Royalties;

 (b) Eliminate the $10,000.00 annual Guaranteed Minimum Royalty;

 (c) Pay a new Guaranteed Minimum Royalty of $500.00 per month beginning with March 2010; and

 (d) Provide us the ability to resell services provided by Niche Properties, for which we will submit 75% of the revenues from these services to Niche Properties.

Credit Line

The Company has a credit line with a $5,000 limit, extended by Niche Technologies, a majority shareholder of the Company, under common control. The credit line has an interest rate of 10% on principal and a due date of December 31, 2012. At December 31, 2012, the Company owes $1,000 on the credit line. The Company has paid Niche Technologies approximately $6,000 and $5,000 in 2011 and 2010 under a technology licensing agreement. At the year ended December 31, 2011 and 2010, the Company owed Niche Technologies $7,000 and $1,000 in accrued fees from the technology licensing agreement.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

GENERAL. Ronald R. Chadwick, P.C. ("Chadwick") is the Company's principal auditing accountant firm. The Company's Board of Directors has considered whether the provisions of audit services are compatible with maintaining Chadwick's independence.

The following table represents aggregate fees billed to the Company for the years ended December 31, 2011 and December 31, 2010 by Ronald R. Chadwick, P.C.

Year Ended December 31,

2011

2010

Audit Fees

$7,750

$7,750

Audit-related Fees

0

0

Tax Fees

0

0

All Other 

0

0

Total Fees

$7,750

$7,750

All audit work was performed by the auditors' full time employees.

40

PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

The following is a complete list of exhibits filed as part of this Form 10K. Exhibit number corresponds to the numbers in the Exhibit table of Item 601 of Regulation S-K.

(a)    Audited financial statements for years ended December 31, 2011 and 2010

(b) Exhibit No.     Description

         3.1  

Articles of Incorporation of Fairway Properties, Inc. (1)

         3.2  

Bylaws of Fairway Properties, Inc. (1)

       10.1  

Technology License Agreement (1)

       10.2  

Amended Technology License Agreement (2)

       31.1  

Certification of Chief Executive Officer pursuant to Section 302 of the

   Sarbanes-Oxley Act (3)

       32.1  

Certification of Principal Executive Officer pursuant to Section 906 of 

   the Sarbanes-Oxley Act (3)

  101.INS XBRL Instance Document

  101.SCH XBRL Taxonomy Extension Schema Document

  101.CAL XBRL Taxonomy Extension Calculation Linkbase Document

  101.DEF XBRL Taxonomy Extension Definition Linkbase Document

  101.LAB XBRL Taxonomy Extension Label Linkbase Document

  101.PRE XBRL Taxonomy Extension Presentation Linkbase Document

(1) Incorporated by reference from the exhibits included in the Company's Registration Statement on Form 10 filed with the Securities and Exchange Commission (www.sec.gov), dated November 18, 2009.

(2) Incorporated by reference from the exhibits included in the Company's Annual Report on Form 10-K for the year ended December 31, 2009, filed with the SEC on March 31, 2010.

(3) Filed herewith.

41

FAIRWAY PROPERTIES, INC.

FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010 AND FROM SEPTEMBER 10, 2007 (INCEPTION) THROUGH DECEMBER 31, 2011

42

RONALD R. CHADWICK, P.C.

Certified Public Accountant

2851 South Parker Road, Suite 720

Aurora, Colorado 80014

Telephone (303)306-1967   Fax (303)306-1944

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Board of Directors

Fairway Properties, Inc.

Denver, Colorado

I have audited the accompanying balance sheets of Fairway Properties, Inc. (a development stage company) as of December 31, 2011 and 2010, and the related statements of operations, stockholders' equity and cash flows for the years then ended and for the period from September 10, 2007 (inception) through December 31, 2011. These financial statements are the responsibility of the Company's management. My responsibility is to express an opinion on these financial statements based on my audit.

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

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Fairway Properties, Inc. as of December 31, 2011 and 2010, and the results of its operations and its cash flows for the years then ended and for the period from September 10, 2007 (inception) through December 31, 2011 in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements the Company has suffered losses from operations that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Aurora, Colorado     /s/ Ronald R. Chadwick, P.C.

May 2, 2012      RONALD R. CHADWICK, P.C.

43

FAIRWAY PROPERTIES, INC.

(A Development Stage Company)

BALANCE SHEETS

December 

December

31, 2011

31, 2010

Assets

  Current Assets:

    Cash

$814

$11,322

  Total Current Assets

814

11,322

Total Assets

814

11,322

Liabilities and Stockholders' (Deficit) Equity

  Current liabilities

    Accounts payable

$48,312

$25,314

    Credit Line

1,000

0

  Total Current Liabilities

49,312

25,314

Stockholders' (Deficit) Equity

  Common stock, $0.001 par value; 140,000,000 

    shares authorized, 1,404,000 and 1,404,000 

    shares issued and outstanding, respectively

1,404

1,404

  Additional paid-in capital

75,181

75,181

  Deficit accumulated during the development stage

(125,083)

(90,577)

    Total Stockholders' Equity

(48,498)

(13,992)

Total Liabilities and Stockholders' Equity

$814

$11,322

See the notes to these financial statements.

44

FAIRWAY PROPERTIES, INC.

(A Development Stage Company)

STATEMENTS OF OPERATIONS

Year Ended December 31, 2011

Year Ended December 31, 2010

September 10, 2007 (Inception) Through December 31, 2010

Revenue:

$500

$1,136

$1,636

Operational expenses:

  General and administrative expenses

778

1,224

12,686

  Licensing fees

6,000

5,200

11,200

  Professional fees

28,228

46,764

101,132

Total operational expenses

(35,006)

(53,188)

(125,018)

Other income (expense):

  Interest income (expense)

0

(2)

(1,701)

Net loss

$(34,506)

$(52,054)

$(125,083)

Per share information

Net loss per common share

  Basic and fully diluted

$(0.02)

$(0.04)

Weigted average number of common stock outstanding

1,404,000

1,404,000

See the notes to these financial statements.

45

FAIRWAY PROPERTIES, INC.

(A Development Stage Company)

STATEMENTS OF CASH FLOWS

Year Ended December 31, 2011

Year Ended December 31, 2010

September 30, 2007 (Inception) Through December 31, 2011

Cash Flows from Operating Activities:

  Net Loss

$(34,506)

$(52,054)

$(125,083)

  Adjustments to reconcile net loss to net cash used

    in operating activities:

    Common stock issued for services

-

-

6,835

  Increase in assets and liabilities:

    Increase (decrease) in accounts payable and other 

      current liabilities

23,998

24,601

49,312

Net Cash Used by Operating Activities

(10,508)

(27,453)

(68,936)

Cash Flows from Financing Activities:

  Proceeds from sale of common stock

-

-

69,750

  Proceeds from note payable, related party

-

-

25,000

  Payment of note payable, related party

-

-

(25,000)

Net Cash Provided by Financing Activities

-

-

69,750

Net Increase in Cash

(10,508)

(27,453)

814

Cash and Cash Equivalents - Beginning of Period

11,322

38,775

-

Cash and Cash Equivalents - End of Period

$      814

$11,322

$     814

Supplemental Disclosure

Cash paid for interest

$           -

$         2

$          -

Cash paid for income taxes

$           -

$          -

$          -

See the notes to these financial statements.

46

FAIRWAY PROPERTIES, INC.

(A Development Stage Company)

STATEMENT OF STOCKHOLDER'S EQUITY (DEFICIT)

FOR THE PERIOD OF SEPTEMBER 10, 2007 (INCEPTION) THROUGH DECEMBER 31, 2011

Common Stock Number of shares

Amount $.001 Par

Additional Paid-in Capital

Deficit Accum During Development Stage

Totals

Beginning Balance - September 10, 2007

-

$-

$-

$-

$-

  Common stock issued to directors for services

485,802

486

-

-

486

  Common stock issued for services

608,000

608

792

-

1,400

  Net loss

-

-

-

(19,250)

(19,250)

Balance - December 31, 2007

1,093,802

1,094

792

(19,250)

(17,364)

Common stock issued to directors

11,448

11

-

-

11

Common stock issued for services

19,750

20

4,918

-

4,938

Common stock issued for cash

279,000

279

69,471

-

69,750

Net loss

-

-

-

(16,640)

(16,640)

Balance - December 31, 2008

1,404,000

1,404

75,181

(35,890)

40,695

Net loss

-

-

-

(2,633)

(2,633)

Balance - December 31, 2009

1,404,000

1,404

75,181

(38,523)

38,062

Net loss

-

-

-

(52,054)

(52,054)

Balance - December 31, 2010

1,404,000

1,404

75,181

(90,577)

(13,992)

Net loss

-

-

-

(34,506)

(34,506)

Balance - December 31, 2011

1,404,000

$1,404

$75,181

$(125,083)

$(48,498)

See the notes to these financial statements.

47

FAIRWAY PROPERTIES, INC.

(A Development Stage Company)

Notes to the Financial Statements

For the Years Ended December 31, 2011 and 2010

NOTE 1 - BUSINESS, BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Business

Fairway Properties, Inc. ("the Company") was incorporated on September 10, 2007 in the state of Nevada. The Company's fiscal year end is December 31st.

The Company offers real estate professionals and advertisers a niche marketing tool, FairwayProperties.com (the "Website"), which enables professionals and advertisers to deliver information about golf properties and related real estate matters to prospective buyers.

Basis of Presentation

Development Stage Company

The Company has not earned significant revenues from planned operations. Accordingly, the Company's activities have been accounted for as those of a "Development Stage Company." Among the disclosures required, are that the Company's financial statements of operations, stockholders' equity and cash flows disclose activity since the date of the Company's inception.

Significant Accounting Policies

Use of Estimates

The preparation of the 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 periods. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less and money market instruments to be cash equivalents.

48

Revenue Recognition

The Company recognizes revenue when it is earned and expenses are recognized when they occur.

Loss Per Share

Earnings per Share, requires dual presentation of basic and diluted earnings or loss per share (EPS) with a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic EPS excludes dilution. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.

Income Taxes

Provision for income taxes represents actual or estimated amounts payable on tax return filings each year. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in the accompanying balance sheets, and for operating loss and tax credit carry forwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustment to the tax provision or benefit in the period of enactment.

Recent Accounting Pronouncements

There were various accounting standards and interpretations issued during the year ended December 31, 2011, none of which are expected to have a material impact on the Company's financial position, operations or cash flows.

NOTE 2 - GOING CONCERN

In the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011, the Report of the Independent Registered Public Accounting Firm includes an explanatory paragraph that describes substantial doubt about the Company's ability to continue as a going concern. The Company's financial statements for the years ended December 31, 2011 and 2010 have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company reported a net loss of $34,506 for the year ended December 31, 2011, and an accumulated deficit of $125,083 as of December 31, 2011. At December 31, 2011, the Company had a working capital deficit of $48,498.

49

The future success of the Company is likely dependent on its ability to attain additional capital and ultimately, upon its ability to attain future profitable operations. There can be no assurance that the Company will be successful in obtaining such financing, or that it will attain positive cash flow from operations. Management believes that actions presently being taken to revise the Company's operating and financial requirements provide the opportunity for the Company to continue as a going concern.

NOTE 3 - RELATED PARTY TRANSACTIONS

The Company has a credit line with a $5,000 limit, extended by a related party company under common control. The credit line has an interest rate of 10% on principal and a due date of December 31, 2012. At December 31, 2012, the Company owes $1,000 on the credit line. The paid the related party company approximately $6,000 and $5,000 in 2011 and 2010 under a technology licensing agreement. At end 2011 and 2010 the Company owed the related party company $7,000 and $1,000 in accrued fees from the technology licensing agreement.

NOTE 4 - STOCKHOLDERS' EQUITY (DEFICIT)

The authorized capital stock of the Company is 140,000,000 shares with a $0.001 par value. At December 31, 2011, the Company had 1,404,000 shares of its common stock issued and outstanding. The Company does not have any preferred shares issued or authorized.

During the years ended December 31, 2011 and 2010, the Company did not issue any shares of its common stock.

NOTE 5 - INCOME TAXES

Under the asset and liability method, deferred income taxes are recognized for the tax consequences of "temporary differences" by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities.

2011

2010

Deferred tax assets

  Net operating loss carryforwards

$25,017

$18,115

  Valuation allowance

(25,017)

(18,115)

Net deferred tax assets

$          -

$          -

At December 31, 2011 and at December 31, 2010, the Company had net operating loss carryforwards of approximately $125,083 and $90,577, respectively, for federal income 

50

tax purposes. These carryforwards, if not utilized to offset taxable income, will begin to expire in 2028.

NOTE 5 - SUBSEQUENT EVENTS

The Company has evaluated it activities subsequent to the year ended December 31, 2011 through May 4, 2012 and found no reportable subsequent events. 

51

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.

/s/ Manu Kumaran      

November 2, 2012

Manu Kumaran

Chief Executive Officer 

Chief Financial Officer 

Director

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/ Manu Kumaran       

November 2, 2012

Manu Kumaran

Chief Executive Officer

Chief Financial Officer

Director

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