U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark
One) [X] QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE
QUARTERLY PERIOD ENDED NOVEMBER 30, 2010 [
 ] TRANSITION
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____ TO ______. Commission
File Number: 333-167275 MOKITA, INC.(Exact name of Registrant as specified in
its charter)  Nevada
46-0525378(State or other jurisdiction of incorporation or
organization)
(IRS Employer Identification No.)  11420  142 Street
NWEdmonton, AB T5M  1V1 (Address
of principal executive offices) (780) 708-4962(Issuers Telephone Number) Indicate by check mark whether the issuer (1) filed all reports
required to be filed by Section 13 or 15(d) of the Exchange Act during the past
12 months (or for such shorter period that the registrant was required to file
such reports), Yes XX   No ___    and (2)
has been subject to such filing requirements for the past 90 days. Yes XX   No    ___ Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (§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  [x]  Not Required by smaller
reporting companies. Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, or a smaller reporting company.
 See the definitions of large accelerated filer, accelerated filer and
smaller reporting company in Rule 12b-2 of the Exchange Act. Large accelerated filer [
 ] Accelerated
filer [  ] Non-accelerated filer [  ]
(Do not check if a smaller reporting company) Smaller
reporting company [X] Indicate
by check mark whether the registrant is a shell company: [x]
Yes [
 ] No As of December 15, 2010, the issuer had 4,800,000 shares issued and
outstanding of its common stock.   PART I  FINANCIAL INFORMATION Item
1. Financial Statements               MOKITA, INC. (A DEVELOPMENT STAGE COMPANY) CONDENSED FINANCIAL STATEMENTS (UNAUDITED)  NOVEMBER 30, 2010                                MOKITA, INC. (A DEVELOPMENT STAGE COMPANY) INDEX
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)  Page(s)  Balance
Sheets 1   Condensed
Statements of Operations and Comprehensive Loss 2  Condensed
Statements of Cash Flows 3    Notes
to Condensed Financial Statements 4-8                                      MOKITA, INC. (A
DEVELOPMENT STAGE COMPANY) CONDENSED BALANCE SHEETS     ASSETSNovember 30,

February 28,2010

2010(Unaudited)Current
AssetsCash
and cash equivalents


$
       26,723

$
                  -Stock
subscription receivable


-

12,500Prepaid
expenses and deposits


1,000

-Total
Current Assets


27,723

12,500TOTAL
ASSETS


$
       27,723

$
          12,500LIABILITIES AND STOCKHOLDERS' EQUITYLIABILITIESCurrent
LiabilitiesAccounts
payable and accrued expenses


$
         2,560

$
               113Loans
from stockholder (NOTE 5)


4,500

-Total
Current Liabilities


7,060

113Total
Liabilities


7,060

113STOCKHOLDERS'
EQUITY (NOTE 4)Common
stock, par value $.001,100,000,000
shares authorized and 4,800,000and
1,500,000 shares, respectively, outstanding


4,800

1,500Additional
paid-in capital


43,200

13,500Deficit
accumulated during thedevelopment
stage


(27,337)

(2,613)Total
Stockholders' Equity


20,663

12,387TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY

$
       27,723

$
          12,500  See
accompanying notes to unaudited condensed financial statements. 1


MOKITA, INC. (A
DEVELOPMENT STAGE COMPANY) CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS -
UNAUDITED    Three
Months

Nine
Months

From April

Cumulative TotalsEnded

Ended

21, 2009

April 21, 2009(Inception) to

(Inception) toNovember
30,

November
30,

November
30,

November 30,2010

2009

2010

2009

2010INCOME

$
           -

$
           -

$
                    -

$
                    -

$
                           -OPERATING
EXPENSESOrganizational
expenses

-

-

-

1,500

1,500Accounting

2,800

-

10,800

-

10,800Legal
expenses

2,770

-

11,823

113

12,936Taxes and
licenses

550

-

550

-

550Administrative
expenses

1,551

-

1,551

-

1,551Total
Operating Expenses

7,671

-

24,724

1,613

27,337OTHER INCOME
(EXPENSE)Total
other income (expense)

-

-

-

-

-NET LOSS
APPLICABLE TO COMMON SHARES

$
  (7,671)

$
           -

$
         (24,724)

$
           (1,613)

$
                (27,337)NET LOSS PER
BASIC AND DILUTED SHARES

$
    (0.00)

$
           -

$
             (0.01)

$
             (0.00)WEIGHTED
AVERAGE NUMBER OFCOMMON
SHARES OUTSTANDING

3,675,824

1,500,000

2,220,000

1,500,000  See
accompanying notes to unaudited condensed financial statements. 2


MOKITA, INC. (A
DEVELOPMENT STAGE COMPANY) CONDENSED STATEMENTS OF CASH FLOWS  UNAUDITED    Nine Months

From April

Cumulative TotalsEnded

21, 2009

April 21, 2009(Inception) to

(Inception) toNovember 30,

November 30,

November 30,2010

2009

2010CASH FLOWS FROM OPERATING ACTIVITIESNet loss

$
        (24,724)

$
          (1,613)

$
              (27,337)Changes in operating assets and
liabilities(Increase) in prepaid
expenses

(1,000)

-

(1,000)Increase in accounts payable
andaccrued
expenses

2,447

113

2,560Total adjustments

1,447

113

1,560Net cash (used in)
operating activities

(23,277)

(1,500)

(25,777)CASH FLOWS FROM INVESTING ACTIVITIES
-

-

-Net cash provided
by (used in) investing activities
-

-

-CASH FLOWS FROM FINANCING ACTIVITIESPayments received on stock
subscription

12,500

1,500

-Sale of common stock

33,000

-

48,000Loans from stockholder

4,500

-

4,500Net
cash provided by financing activities

50,000

1,500

52,500CASH AND CASH EQUIVALENTS -BEGINNING OF
PERIOD

-

-

-CASH AND CASH EQUIVALENTS - ENDOF PERIOD

$
         26,723

$
                   -

$
               26,723SUPPLEMENTAL CASH FLOW INFORMATION:Cash paid for interest

$
                 -

$
                 -

$
                       -Cash paid for income taxes

$
                 -

$
                 -

$
                       -NON-CASH INVESTING AND FINANCING
ACTIVITIES:Common stock subscription

$
                 -

$
          15,000

$
                       -   See
accompanying notes to unaudited condensed financial statements. 3     **MOKITA, INC.** (A DEVELOPMENT STAGE COMPANY) NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOVEMBER 30, 2010  NOTE
1- ORGANIZATION
AND BASIS OF PRESENTATION  The condensed unaudited interim financial statements included
herein have been prepared pursuant to the rules and regulations of the
Securities and Exchange Commission (SEC).  The condensed consolidated
financial statements and notes are presented as permitted on Form 10-Q and do
not contain information included in the Companys annual statements and notes.
 Certain information and footnote disclosures normally included in
financial statements prepared in accordance with accounting principles generally
accepted in the United States of America have been condensed or omitted pursuant
to such rules and regulations, although the Company believes that the
disclosures are adequate to make the information presented not misleading.
 It is suggested that these condensed financial statements be read in
conjunction with the February 28, 2010 audited financial statements and the
accompanying notes thereto.  While management believes the procedures
followed in preparing these condensed financial statements are reasonable, the
accuracy of the amounts are in some respects dependent upon the facts that will
exist, and procedures that will be accomplished by the Company later in the
year.  These
condensed unaudited financial statements reflect all adjustments, including
normal recurring adjustments which, in the opinion of management, are necessary
to present fairly the operations and cash flows for the periods presented.  Mokita, Inc. (the Company) was incorporated on April 21, 2009 as
Mokita Exploration, Ltd. under the laws of the State of Nevada.  On
February 5, 2010 the Company changed its name to Mokita, Inc.  The business
purpose of the Company is to accept credit card payments from Canadian
customers, for a fee, for payment to Canadian organizations which do not accept
credit card payments due to card issuer fees.  The Company has selected
February 28 as its fiscal year end.  NOTE
2- SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES  Development
Stage Company  The
Company is considered to be in the development stage as defined in FASC
915-10-20, Development Stage Entity. The Company is
devoting substantially all of its efforts to the execution of its business
plan.  Use
of Estimates  The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from those
estimates. 4       **MOKITA, INC.** (A DEVELOPMENT STAGE COMPANY) NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOVEMBER 30, 2010  NOTE
2- SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  Cash
and Cash Equivalents  Cash and cash equivalents consists principally of currency on
hand, demand deposits at commercial banks, and liquid investment funds having a
maturity of three months or less at the time of purchase.  The Company had
cash and cash equivalents of $26,723 and $0, respectively, as of November 30,
2010 and February 28, 2010.  Start-up
Costs  In accordance with FASC 720-15-25, Start-up Activities,
the Company expenses all costs incurred in connection with the start-up and
organization of the Company.  Common
Stock Issued For Other Than Cash  Services purchased and other transactions settled in the Company's
common stock are recorded at the estimated fair value of the stock issued if
that value is more readily determinable than the fair value of the consideration
received.  Net
Income or (Loss) Per Share of Common Stock  The following table sets forth the computation of basic and
diluted earnings per share:   THREE
MONTHS

NINE
MONTHSENDED
NOVEMBER 30,

ENDED
NOVEMBER 30,2010
2009

2010
2009Net income
(loss)
$
    (7,671)
$
           -

$
  (24,724)
$
                    (1,613)Weighted
averagecommon
sharesoutstanding
(Basic)
3,675,824
1,500,000

2,220,000
1,500,000Options

-
-

-
-Warrants

-
-

-
-Weighted
averagecommon
sharesoutstanding
(Diluted)
3,675,824
1,500,000

2,220,000
1,500,000Net
loss per share(Basic
and diluted)
$
      (0.00)
$
           -

$
      (0.01)
$
                      (0.00)   As of November 30, 2010 and February 28, 2010, the Company had
4,800,000 and 1,500,000 shares, respectively, outstanding.  The Company has
no potentially dilutive securities, such as options or warrants, currently
issued and outstanding.  5       **MOKITA, INC.** (A DEVELOPMENT STAGE COMPANY) NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOVEMBER 30, 2010  NOTE
2- SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  Recently Enacted Accounting Standards  In June 2009 the FASB established the Accounting Standards
Codification (Codification or ASC) as the source of authoritative accounting
principles recognized by the FASB to be applied by nongovernmental entities in
the preparation of financial statements in accordance with generally accepted
accounting principles in the United States (GAAP).  Rules and
interpretive releases of the Securities and Exchange Commission (SEC) issued
under authority of federal securities laws are also sources of GAAP for SEC
registrants.  Existing GAAP was not intended to be changed as a result of
the Codification and, accordingly, the change did not impact our financial
statements.  The ASC does change the way the guidance is organized and
presented. Accounting Standards Update (ASU) ASU No. 2009-05 (ASC Topic
820, which amends Fair Value Measurements and Disclosures  Overall,
ASU No. 2009-13 (ASC Topic 605), Multiple-Deliverable Revenue Arrangements,ASU No. 2009-14 (ASC Topic 985), Certain Revenue Arrangements that
include Software Elements,and various other ASUs, No. 2009-2 through ASU
No. 2010-29, which contain technical corrections to existing guidance or affect
guidance to specialized industries or entities, were recently issued.
 These updates have no current applicability to the Company or their effect
on the financial statements would not have been significant.  NOTE
3- PROVISION
FOR INCOME TAXES  The Company recognizes the tax effects of transactions in the year
in which such transactions enter into the determination of net income regardless
of when reported for tax purposes.  Deferred taxes are provided in the
financial statements under FASC 740-10-25 to give effect to the temporary
differences which may arise from differences in the bases of fixed assets,
depreciation methods  and allowances based on the income taxes expected to
be payable in future years.  Minimal development stage deferred tax assets
arising as a result of net operating loss carry-forwards have been offset
completely by a valuation allowance due to the uncertainty of their utilization
in future periods.  Operating loss carry-forwards generated during the
period from April 21, 2009 (date of inception) through November 30, 2010 of
approximately $27,337 will begin to expire in 2029.  Accordingly, deferred
tax assets of approximately $9,568 were offset by the valuation allowance.  The Company has no tax positions at November 30, 2010 for which
the ultimate deductibility is highly certain but for which there is uncertainty
about the timing of such deductibility. 6        MOKITA, INC. (A DEVELOPMENT STAGE COMPANY) NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOVEMBER 30, 2010  NOTE
3- PROVISION
FOR INCOME TAXES (CONTINUED)  The Company recognizes interest accrued relative to unrecognized
tax benefits in interest expense and penalties in operating expense.
 During the period from April 21, 2009 (inception) to November 30, 2010 the
Company recognized no income tax related interest and penalties.  The
Company had no accruals for income tax related interest and penalties at
November 30, 2010.  NOTE
4 - STOCKHOLDERS
EQUITY  Common
Stock  As
of November 30, 2010 and February 28, 2010 the Company had 100,000,000 shares of
common stock authorized with a par value of $.001 per share and 4,800,000 and
1,500,000 shares, respectively, issued and outstanding.  The following details the stock transactions for the Company:  On April 22, 2009 the Company authorized the sale of 1,500,000
shares of its common stock to its founding President for $.01 per share for a
total of $15,000 cash to provide initial working capital.  The stock
subscription was fully paid as of March 18, 2010.  During September of 2010 the Company completed the sale of
3,300,000 shares of common stock pursuant to its offering at $.01 per share for
a total of $33,000.  The shares were issued on October 1, 2010.  NOTE 5 - LOANS FROM STOCKHOLDERS  The Companys President and sole Director has advanced funds for
organizational and administrative expenses.  The total of these advances as
of November 30, 2010 is $4,500.  The loans are reported as current
liabilities and will be repaid as cash flows allow.  Interest has not been
imputed due to its nominal impact on the financial statements.  NOTE 6 - FOREIGN CURRENCY TRANSLATION  Since the Company operates in Canada there is potential for
transactions in Canadian dollars, although none occurred as of November 30,
2010.  Assets and liabilities denominated in Canadian dollars are revalued
to the United States dollar equivalent as of the reporting date.  The
effect of change in exchange rates from the transaction dates to the reporting
date is reported as Currency Transactions Gain or Loss for the period.   7        MOKITA, INC. (A DEVELOPMENT STAGE COMPANY) NOTES
TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOVEMBER 30, 2010  NOTE
7 - STOCK
OFFERING  On September 3, 2010 the Company opened an offering for sale of
its common shares, terminating December 31, 2010.  The offering is for a
maximum of 10,000,000 shares at a price of $.01 USD or $.0105 CAD per share.
 A total of 3,300,000 shares were subscribed and paid as of September 16,
2010 and shares were issued on October 1, 2010, bringing the total shares
outstanding to 4,800,000.  The Company received $33,000 USD to be used for
administrative expenses and the execution of its business plan  NOTE
8 - GOING
CONCERN  The accompanying financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America, which contemplate continuation of the Company as a going concern.
 The Company  has incurred an operating deficit since its inception,
is in the development stage and has generated no operating revenue. These items
raise substantial doubt about the Companys ability to continue as a going
concern.  In view of these matters, realization of the assets of the
Company is dependent upon the Companys ability to meet its financial
requirements through equity financing and the success of future operations.
 These financial statements do not include adjustments relating to the
recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should the Company be unable to continue
in existence.  NOTE
9 - SUBSEQUENT
EVENTS  The Company has evaluated events from November 30, 2010 through
the date the financial statements were issued.  There are no events
required to be disclosed.              8          Item
2. Plan of Operation Our
plan of operation is to build a business as a provider of credit card payment
services to individuals who want to pay tuition and course fees to colleges,
schools and universities, as well as property taxes and utility payments to
municipalities and utility companies that do not accept credit card
payments.  Mokita
will provide website services for individuals to use credit cards to pay
tuition, course fees, taxes and utility bills.  We intend to begin with
developing the tuition and course fee part of the business first, and then to
move into utility fees and taxes.  Some of the utility companies in western
Canada already have agreements with companies providing the services we are in
the process of developing, and our research has led us to believe the market
involving universities and colleges would be a better market to pursue
initially.  This is not a market sector without competition.  There
are other businesses that provide this service and have ongoing relations with
both the businesses they deal with and a base of existing customers.  Customers will go to our secure website, select the service
provider they would like to pay, provide us with their particulars, the amount
they are paying and their credit card account information, as well as
authorization to charge their credit card account.  Mokita will then
complete the transaction by charging their credit card the agreed upon amount to
be paid to the selected service provider plus a transaction fee of between 5 and
10 percent.  In
preliminary discussions with credit card companies and financial institutions,
we have been advised that the funds from daily transactions will be
electronically deposited in our bank account the business day following the
transaction.  This will then allow us to make a further electronic transfer
of the necessary funds to the customers service provider to pay the invoice
amount on behalf of the customer.  This procedure will allow us to conduct
our business on a cash basis and require no additional financing or credit
facility.  The
actual amount of the transaction fee will be based on the merchant fees that we
will be required to pay to the various credit card companies.  We have not
yet begun negotiations with the credit card companies to determine merchant
fees.  They are typically between 1 and 5 percent and are based primarily
on monthly volume.  Item
4T. Controls and procedures  Evaluation of Disclosure Controls and
Procedures  Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting.  Internal control over financial
reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles.  Our
evaluation of internal control over financial reporting includes using the COSO
framework, an integrated framework for the evaluation of internal controls
issued by the Committee of Sponsoring Organizations of the Treadway Commission,
to identify the risks and control objectives related to the evaluation of our
control environment.  The internal controls for the Company are provided by
executive managements review and approval of all transactions.        Based
on the current internal controls employed by the Company, the Company concludes
that, as of November 30, 2010, a material weakness exists in the Companys
internal control procedures, in that one individual who, as an officer and
director of the Company, has sole access and authority to receive cash and make
cash disbursements.  Changes in Internal Control Over
Financial Reporting  There were no changes in
our internal control over financial reporting during the nine months ended
November 30, 2010, that have materially affected, or are reasonably likely to
materially affect, our internal controls over financial reporting.  Due to the material weaknesses and
significant deficiencies noted above, management and the Board of Directors are
currently working to remediate all noted weaknesses and deficiencies.  Part II  Other Information Item
6. Exhibits The following documents are attached as exhibits hereto. Exhibit
No.
Document
Location3.1
Articles of
Incorporation
Previously
Filed3.2
Bylaws
Previously
Filed31
Certification
of the Chief Financial Officer of the Company as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
Included32
Certification
of the Chief Executive Officer and Chief Financial Officer of the Company
pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
Included  SIGNATURES Pursuant
to the requirements 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. MOKITA,
INC. /s/
Brent Millward By: Brent
Millward Its: President Date: January
5, 2011