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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

Form 10-Q

(Mark One)

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

For the quarterly period ended April 30, 2011

or

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

For the transition period from _________  to _________

Commission File Number 333-169770

DEGARO INNOVATIONS
CORP.(Exact name of registrant as specified in its
charter)

|Nevada                                                               | N/A                              
|-------------------------------------------------------------------- | ---------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (IRS Employer Identification No.)
|                                                                     |                                  
|Lot 107, Roaring River, Steer Town PO, St. Ann,
      Jamaica        | N/A                              
|(Address of principal executive offices)                             | (Zip Code)                       

(876) 347-9493(Registrants telephone number,
including area code)

N/A(Former name, former address and former
fiscal year, if changed since last report)

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.[X] YES [   ] 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

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a small
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
(as defined in Rule 12b-2 of the Exchange Act 
[   ] YES [X] NO

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

Check whether the registrant has filed all documents and reports
required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.[   ] YES [   ]
NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the
issuers classes of common stock, as of the latest practicable date.51,155,000
  common shares issued and outstanding as of July 19, 2011

1

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TABLE OF CONTENTS

|PART I - FINANCIAL
      INFORMATION | 3      
|------------------------------------ | -------
|                                     | Item 1.
|                                     | Item 2.
|                                     | Item 3.
|                                     | Item 4.
|PART II - OTHER INFORMATION          | 11     
|                                     | Item 1.
|                                     | Item 2.
|                                     | Item 3.
|                                     | Item 4.
|                                     | Item 5.
|                                     | Item 6.
|SIGNATURES                           | 13     

2

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PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

These unaudited financial statements have been prepared in
accordance with accounting principles generally accepted in the United States of
America for interim financial information and the Securities and Exchange
Commission instructions to Form 10-Q. In the opinion of management, all
adjustments considered necessary for a fair presentation have been included.
Operating results for the interim period ended April 30, 2011 are not
necessarily indicative of the results that can be expected for the full
year.

3

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Degaro Innovations Corp.

(A Development Stage Company)

April 30, 2011

|(unaudited)                                          | Page
|---------------------------------------------------- | ----
|                                                     |     
|Consolidated Balance Sheets                          | F1 
|                                                     |     
|Consolidated Statements
      of Operations          | F2 
|                                                     |     
|Consolidated Statements
      of Cash Flows          | F3 
|                                                     |     
|Notes to the Consolidated
      Financial Statements | F4 

4

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|Degaro Innovations Corp.     
|-----------------------------
|(A Development Stage Company)
|Consolidated Balance Sheets  
|As of April 30, 2011         
|(unaudited)                  

|                                                                                                                          |   | April 30, |   |   | July 31, |  
|------------------------------------------------------------------------------------------------------------------------- | - | --------- | - | - | -------- | -
|                                                                                                                          |   | 2011      |   |   | 2010     |  
|                                                                                                                          |   |           |   |   |          |  
|ASSETS                                                                                                                    |   |           |   |   |          |  
|Current Assets                                                                                                            |   |           |   |   |          |  
|Cash                                                                                                                      | $ | 1,347     |   | $ | 43,344   |  
|Total Current Assets                                                                                                      |   | 1,347     |   |   | 43,344   |  
|Property and equipment, net (Note 3)                                                                                      |   | 11,906    |   |   |         |  
|Total Assets                                                                                                              | $ | 13,253    |   | $ | 43,344   |  
|                                                                                                                          |   |           |   |   |          |  
|LIABILITIES AND STOCKHOLDERS (DEFICIT) EQUITY                                                                            |   |           |   |   |          |  
|Current Liabilities                                                                                                       |   |           |   |   |          |  
|Accounts payable and accrued liabilities                                                                                  | $ | 2,233     |   | $ |         |  
|Related party advances (Note
      4)                                                                                     |   | 7,711     |   |   | 850      |  
|Loan payable (Note 5)                                                                                                     |   | 6,563     |   |   |         |  
|Total Current Liabilities                                                                                                 |   | 16,507    |   |   | 850      |  
|Contingencies and Commitments (Note 6)                                                                                    |   |           |   |   |          |  
|Stockholders (Deficit) Equity                                                                                            |   |           |   |   |          |  
|Preferred Stock, 100,000,000 shares authorized, $0.001 par
      value;      no shares issued and outstanding             |   |          |   |   |         |  
|Common stock, 100,000,000 shares
      authorized, $0.0001 par value;      51,155,000
      shares issued and outstanding |   | 5,116     |   |   | 5,116    |  
|Additional paid-in capital                                                                                                |   | 43,194    |   |   | 43,194   |  
|Deficit accumulated during the development
      stage                                                                    |   | (51,564   | ) |   | (5,816   | )
|Total Stockholders (Deficit) Equity                                                                                      |   | (3,254    | ) |   | 42,494   |  
|Total Liabilities and Stockholders
      (Deficit) Equity                                                                | $ | 13,253    |   | $ | 43,344   |  

See notes to consolidated financial statements.

F-1

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|Degaro Innovations Corp.             
|-------------------------------------
|(A Development Stage Company)        
|Consolidated Statements of Operations
|(Unaudited)                          

|                                       |   |                |   |   |                |   |   |                |   |   | For the                |   |   | For the                |  
|-------------------------------------- | - | -------------- | - | - | -------------- | - | - | -------------- | - | - | ---------------------- | - | - | ---------------------- | -
|                                       |   | For the        |   |   | For the        |   |   | For the        |   |   | Period From            |   |   | Period From            |  
|                                       |   | Three Months   |   |   | Three Months   |   |   | Nine Months    |   |   | December 8, 2009       |   |   | December 8, 2009       |  
|                                       |   | Ended          |   |   | Ended          |   |   | Ended          |   |   | (Date of Inception) to |   |   | (Date of Inception) to |  
|                                       |   | April 30, 2011 |   |   | April 30, 2010 |   |   | April 30, 2011 |   |   | April 30, 2010         |   |   | April 30, 2011         |  
|                                       |   |                |   |   |                |   |   |                |   |   |                        |   |   |                        |  
|Expenses                               |   |                |   |   |                |   |   |                |   |   |                        |   |   |                        |  
|General and administrative             | $ | 6,924          |   | $ | 641            |   | $ | 8,963          |   | $ | 1,491                  |   | $ | 11,809                 |  
|Depreciation and
      amortization    |   | 309            |   |   |               |   |   | 464            |   |   |                       |   |   | 464                    |  
|Professional fees                      |   | 3,746          |   |   | 1,802          |   |   | 36,321         |   |   | 1,802                  |   |   | 39,291                 |  
|Total Expenses                         |   | 10,979         |   |   | 2,443          |   |   | 45,748         |   |   | 3,293                  |   |   | 51,564                 |  
|Net Loss                               | $ | (10,979        | ) | $ | (2,443         | ) | $ | (45,748        | ) | $ | (3,293                 | ) | $ | (51,564                | )
|Net Loss Per Share  Basic and Diluted | $ | (0.00          | ) | $ | (0.00          | ) | $ | (0.00          | ) | $ | (0.00                  | ) |   |                        |  
|Weighted Average Shares Outstanding    |   | 51,155,000     |   |   | 30,000,000     |   |   | 51,155,000     |   |   | 19,091,000             |   |   |                        |  

See notes to consolidated financial statements.

F-2

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|Degaro Innovations Corp.             
|-------------------------------------
|(A Development Stage Company)        
|Consolidated Statements of Cash Flows
|(Unaudited)                          

|                                                                                  |   |                |   |   | For the                |   |   | For the                |  
|--------------------------------------------------------------------------------- | - | -------------- | - | - | ---------------------- | - | - | ---------------------- | -
|                                                                                  |   | For the        |   |   | Period From            |   |   | Period From            |  
|                                                                                  |   | Nine Months    |   |   | December 8, 2009       |   |   | December 8, 2009       |  
|                                                                                  |   | Ended          |   |   | (Date of Inception) to |   |   | (Date of Inception) to |  
|                                                                                  |   | April 30, 2011 |   |   | April 30, 2010         |   |   | April 30, 2011         |  
|Cash Flows from Operating Activities                                              |   |                |   |   |                        |   |   |                        |  
|Net loss                                                                          | $ | (45,748        | ) | $ | (3,293                 | ) | $ | (51,564                | )
|Adjustments to reconcile net
      loss to net cash used in operating activities: |   |                |   |   |                        |   |   |                        |  
|Depreciation
      and amortization                                               |   | 464            |   |   |                       |   |   | 464                    |  
|Changes in operating assets and liabilities:                                      |   |                |   |   |                        |   |   |                        |  
|Accounts payable and accrued liabilities                                          |   | 2,233          |   |   |                       |   |   | 2,233                  |  
|Net Cash Used In Operating Activities                                             |   | (43,051        | ) |   | (3,293                 | ) |   | (48,867                | )
|Cash Flows from Investing Activities                                              |   |                |   |   |                        |   |   |                        |  
|Purchase of property and
      equipment                                          |   | (12,370        | ) |   |                       |   |   | (12,370                | )
|Net Cash Used in Investing Activities                                             |   | (12,370        | ) |   |                       |   |   | (12,370                | )
|Cash Flows from Financing Activities                                              |   |                |   |   |                        |   |   |                        |  
|Related party advances                                                            |   | 6,861          |   |   |                       |   |   | 7,711                  |  
|Proceeds from issuance of
      common stock                                      |   |               |   |   | 6,000                  |   |   | 48,310                 |  
|Proceeds from loan payable                                                        |   | 6,563          |   |   |                       |   |   | 6,563                  |  
|Net Cash Provided by Financing Activities                                         |   | 13,424         |   |   | 6,000                  |   |   | 62,584                 |  
|(Decrease) Increase in Cash                                                       |   | (41,997        | ) |   | 2,707                  |   |   | 1,347                  |  
|Cash - Beginning of Period                                                        |   | 43,344         |   |   |                       |   |   |                       |  
|Cash - End of Period                                                              | $ | 1,347          |   | $ | 2,707                  |   | $ | 1,347                  |  
|Supplementary Information:                                                        |   |                |   |   |                        |   |   |                        |  
|Interest paid                                                                     | $ |               |   | $ |                       |   | $ |                       |  
|Income
      taxes paid                                                           | $ |               |   | $ |                       |   | $ |                       |  

See notes to consolidated financial statements.

F-3

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|Degaro Innovations Corp.                      
|----------------------------------------------
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|(Unaudited)                                   

|1. | Nature of Business and Continuance of
Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | Degaro Innovations, Corp. (the Company) was
      incorporated in the State of Nevada on December 8, 2009. The Companys
      principal business is to initiate, market, and distribute residential
      solar panel systems to the Jamaican and Caribbean market. On July 26,
      2010, the Company incorporated Degaro Limited, a wholly-owned subsidiary
      in Jamaica.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | These consolidated financial statements have been
      prepared on a going concern basis, which assumes the Company will continue
      to realize its assets and discharge its liabilities in the normal course
      of business. The continuation of the Company as a going concern is
      dependent upon the continued financial support from its shareholders, the
      ability of the Company to obtain necessary equity financing to continue
      operations, and the attainment of profitable operations. As of April 30,
      2011, the Company has incurred losses totalling $51,564 since inception,
      and has not yet generated any revenue from operations. These factors raise
      substantial doubt regarding the Companys ability to continue as a going
      concern. These consolidated financial statements do not include any
      adjustments to the recoverability and classification of recorded asset
      amounts and classification of liabilities that might be necessary should
      the Company be unable to continue as a going concern.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|2. | Summary of Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
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|   | c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
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|   | d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
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|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | e)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
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F-4

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|Degaro Innovations Corp.                      
|----------------------------------------------
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|(Unaudited)                                   

|2. | Summary of Significant Accounting Policies
    (continued)
|-- | ----------------------------------------------------------

| | f) | Financial Instruments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | The Companys financial instruments consist principally
      of cash and related party payables. Pursuant to ASC 820,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | Fair Value Measurements and Disclosuresand ASC
      825, Financial Instrumentsthe fair value of the Companys cash
      equivalents is determined based on Level 1 inputs, which consist of
      quoted prices in active markets for identical assets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | g) | Earnings (Loss) Per Share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | The Company computes net income (loss) per share in
      accordance with ASC 260, Earnings per Share. ASC 260 requires
      presentation of both basic and diluted earnings per share (EPS) on the
      face of the income statement. Basic EPS is computed by dividing net income
      (loss) available to common shareholders (numerator) by the weighted
      average number of shares outstanding (denominator) during the period.
      Diluted EPS gives effect to all dilutive potential common shares
      outstanding during the period using the treasury stock method and
      convertible preferred stock using the if-converted method. In computing
      Diluted EPS, the average stock price for the period is used in determining
      the number of shares assumed to be purchased from the exercise of stock
      options or warrants. Diluted EPS excludes all dilutive potential shares if
      their effect is anti dilutive. At April 30, 2011, the Company has no
      potentially dilutive securities outstanding.                                                                                          
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | h) | Foreign Currency Translation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | The Companys planned operations will be in Jamaica and
      the Caribbean, which results in exposure to market risks from changes in
      foreign currency exchange rates. The financial risk is the risk to the
      Companys operations that arise from fluctuations in foreign exchange
      rates and the degree of volatility of these rates. Currently, the Company
      does not use derivative instruments to reduce its exposure to foreign
      currency risk. The Company's functional currency for all operations
      worldwide is the U.S. dollar. Nonmonetary assets and liabilities are
      translated at historical rates and monetary assets and liabilities are
      translated at exchange rates in effect at the end of the year. Revenues
      and expenses are translated at average rates for the year. Gains and
      losses from translation of foreign currency financial statements into U.S.
      dollars are included in current results of operations. Aggregate foreign
      currency translation and transaction losses were insignificant for the six
      month period ended April 30, 2011.
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | i) | Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | The Company accounts for income taxes using the asset and
      liability method in accordance with ASC 740, Income Taxes. The
      asset and liability method provides that deferred tax assets and
      liabilities are recognized for the expected future tax consequences of
      temporary differences between the financial reporting and tax bases of
      assets and liabilities, and for operating loss and tax credit
      carryforwards. Deferred tax assets and liabilities are measured using the
      currently enacted tax rates and laws that will be in effect when the
      differences are expected to reverse. The Company records a valuation
      allowance to reduce deferred tax assets to the amount that is believed
      more likely than not to be realized.                                                                                                                                                                                                                                                                                                                                               
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | j) | Subsequent Events                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | The Company evaluated subsequent events through the date
      these financial statements were available to be issued.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| | k) | Recent Accounting Pronouncements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
| |    | The Company has implemented all new accounting
      pronouncements that are in effect and that may impact its consolidated
      financial statements and does not believe that there are any other new
      accounting pronouncements that have been issued that might have a material
      impact on its financial position or results of
  operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

F-5

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|Degaro Innovations Corp.                      
|----------------------------------------------
|(A Development Stage Company)                 
|Notes to the Consolidated Financial Statements
|(Unaudited)                                   

|3. | Property and Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   | Property and equipment are recorded at cost. Depreciation
      is provided over the estimated useful lives of the related assets using
      the straight-line method for financial statement purposes. The Company
      uses other depreciation methods (generally, accelerated depreciation
      methods) for tax purposes where appropriate. Repairs and maintenance are
      expensed as incurred. Expenditures that increase the value or productive
      capacity of assets are capitalized. When property and equipment are
      retired, sold, or otherwise disposed of, the assets carrying amount and
      related accumulated depreciation are removed from the accounts and any
      gain or loss is included in operations. The Company reviews the carrying
      value of property, plant, and equipment for impairment whenever events and
      circumstances indicate that the carrying value of an asset may not be
      recoverable from the estimated future cash flows expected to result from
      its use and eventual disposition. In cases where undiscounted expected
      future cash flows are less than the carrying value, an impairment loss is
      recognized equal to an amount by which the carrying value exceeds the fair
      value of assets. The factors considered by management in performing this
      assessment include current operating results, trends, and prospects, as
      well as the effects of obsolescence, demand, competition, and other
      economic factors.

| |           |   |        |  |   |              |  |   | April 30, 2011 |  |   | July 31, 2010 | 
| | --------- | - | ------ |  | - | ------------ |  | - | -------------- |  | - | ------------- | 
| |           |   |        |  |   | Accumulated  |  |   | Net Carrying   |  |   | Net Carrying  | 
| |           |   | Cost   |  |   | Depreciation |  |   | Value          |  |   | Value         | 
| |           |   |        |  |   |              |  |   |                |  |   |               | 
| | Equipment | $ | 12,370 |  | $ | 464          |  | $ | 11,906         |  | $ |              | 

The estimated service lives of property
and equipment are principally as follows:

Equipment
  10 years


|4. | Related Party Transactions                                                                                                                                 
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                            
|   | a)                                                                                                                                                         
|   |                                                                                                                                                            
|   | b)                                                                                                                                                         
|   |                                                                                                                                                            
|5. | Loan Payable                                                                                                                                               
|   |                                                                                                                                                            
|   | At April 30, 2011, the Company is indebted to an
      unrelated third party for $6,563. This loan is non-interest bearing and is
      due on demand.     
|   |                                                                                                                                                            
|6. | Commitments                                                                                                                                                
|   |                                                                                                                                                            
|   | a)                                                                                                                                                         
|   |                                                                                                                                                            
|   | b)                                                                                                                                                         
|   |                                                                                                                                                            
|7. | Subsequent Event                                                                                                                                           
|   |                                                                                                                                                            
|   | On May 20, 2011, the Company received 10% of the purchase
      price from N.A.T. pursuant to the purchase and sale agreement described in
      Note 6(b).

F-6

---

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

FORWARD-LOOKING STATEMENTS

This quarterly report contains forward-looking statements.
These statements relate to future events or our future financial performance. In
some cases, you can identify forward-looking statements by terminology such as
"may", "should", "expects", "plans", "anticipates", "believes", "estimates",
"predicts", "potential" or "continue" or the negative of these terms or other
comparable terminology. These statements are only predictions and involve known
and unknown risks, uncertainties and other factors, that may cause our or our
industry's actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. Although
we believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of the United States, we do not intend to update any of the forward-looking
statements to conform these statements to actual results.

Our unaudited financial statements are stated in United States
Dollars (US$) and are prepared in accordance with United States Generally
Accepted Accounting Principles. The following discussion should be read in
conjunction with our financial statements and the related notes that appear
elsewhere in this quarterly report. The following discussion contains
forward-looking statements that reflect our plans, estimates and beliefs. Our
actual results could differ materially from those discussed in the forward
looking statements. Factors that could cause or contribute to such differences
include, but are not limited to, those discussed below and elsewhere in this
quarterly report.

In this quarterly report, unless otherwise specified, all
dollar amounts are expressed in United States dollars. All references to "US$"
refer to United States dollars and all references to "common stock" refer to the
common shares in our capital stock.

As used in this quarterly report, the terms "we", "us", "our"
and "our company" mean Degaro Innovations Corp. and our wholly-owned subsidiary,
Degaro Limited, a Jamaican corporation, unless otherwise indicated.

Overview

We were incorporated on December 8, 2009 under the laws of the
State of Nevada. At incorporation, our authorized capital consisted of
100,000,000 shares of common stock with a par value of $0.001 and 100,000,000
shares of preferred stock with a par value of $0.001 per share. Effective
January 29, 2010, we amended our articles of incorporation to change the par
value of shares of our common stock to $0.0001 per share. As a result, effective
January 29, 2010, our authorized capital consisted of 100,000,000 shares of
common stock with a par value of $0.0001 per share and 100,000,000 shares of
preferred stock with a par value of $0.001 per share.

We have a wholly-owned subsidiary, Degaro Limited, incorporated
under the laws of Jamaica on July 26, 2010. Our principal executive offices are
located at Lot 107, Roaring River, Steer Town PO, St. Ann, Jamaica. Our
telephone number is (876) 347-9493. Our fiscal year end is July 31.

We are a start up, development stage company. We have only
recently begun operations, have limited sales and limited revenues, and
therefore rely upon the sale of our securities to fund our operations. We have a
going concern uncertainty as of the date of our most recent financial
statements.

We are not a blank check company. Rule 419 of Regulation C
under the Securities Act of 1933 defines a blank check company as a (i)
development stage company that has no specific business plan or purpose or has
indicated that its business plan is to engage in a merger or acquisition with an
unidentified company or companies, or other entity or person, and (ii) is
issuing a penny stock. Accordingly, we do not believe that our Company may be
classified as a blank check company because we intend to engage in a specific
business plan and do not intend to engage in any merger or acquisition with an
unidentified company or other entity.

5

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We are not a shell company as described under Rule 405 of
Regulation C under the Securities Act of 1933, as amended. Rule 405 of
Regulation C defines a shell company as a registrant that has: (1) no or
nominal operations; and (2) either (i) no or nominal assets; assets consisting
solely of cash and cash equivalents; or (iii) assets consisting of any amount of
cash and cash equivalents and nominal other assets.

From inception, our management has devoted a significant amount
of time to the development of our business. In furtherance of our planned
business, our management investigated the market demand for solar power in the
Jamaican and Caribbean markets, raised seed capital, investigated various
suppliers of solar power equipment, decided on a supplier of solar power
equipment, recently purchased a complete 1.5KW solar system for demonstration
purposes, and most recently has a purchase order for an additional 4 solar power
units.

We intend to market, and distribute solar panel power
generation systems for household application in the Jamaican and Caribbean
market. We anticipate that our products will be designed and assembled in
Pingshan District in Shenzhen, Guangdong Province, China by Shenzhen
Commonpraise Solar Co., Ltd. where various types of solar products, including
solar water heaters, residential and commercial powered-systems, LED products,
and solar powered streetlights are manufactured.

On January 6, 2011 we entered into an exclusive distribution
agreement with Shenzhen Commonpraise Solar Co., Ltd. for the distribution of
Shenzhen Commonpraise products in Jamaica. Pursuant to the agreement, we have
undertaken to purchase not less than 10 industrial or commercial solar energy
systems from Shenzhen Commonpraise within a 6 month period following the date of
the agreement. Exclusivity under the agreement will be effective for the initial
6 months period following our purchase of a solar energy system of not less than
2 kilowatts. As of the date of this report, a purchase order has been provided
to Shenzhen Commonpraise by N.A. T. Enterprise for the purchase of one 2
kilowatt system and three 750 watt solar systems. If we are successful in
meeting the 10 system quota, the exclusive distribution arrangement will be
extended for an additional 12 month period. If we are not successful, we will
revert back to a non-exclusive distribution arrangement with Shenzhen
Commonpraise.

Prior to the distribution agreement we purchased a 1.5KW system
from Shenzhen Commonpraise for testing, marketing and display purposes.

Once this unit is installed and fully functioning, we
anticipate that we will engage two sales staff to aid with establishing
relationships with retailers and distributors. We hope to finish the
installation process and hire the required staff by July of 2011, but this is
dependent on financial resources available to us. There can be no assurance that
we will be able to raise sufficient capital to be able to hire any employees. We
anticipate that these individuals will be trained to target and market solar
systems to developers of industrial, commercial and residential developments.

In connection with our proposed installation business, we
intend to concentrate on serving the solar power needs of residential and small
commercial customers who may or may not desire to be tied to the electric power
grid. We believe the solar power industry is at an early stage of its growth and
is highly fragmented with many smaller companies. The prospects for long-term
worldwide demand for solar power have attracted a multitude of
design/integration companies in our market segment. We expect consolidation in
the design/integration segment of the industry based mostly on branding,
development of new technology and business process improvements. Our principal
objective is to be among the leaders in the marketing, sales, and distribution
of solar panels.

Accordingly, we anticipate that our growth strategy will
primarily include:

- Providing solutions for solar rooftop installations of solar panels for
  residential facilities;
- Commercializing solar module installation technology optimized for
  residential markets;
- Reducing installation costs and improving the aesthetics of solar systems
  compared to standard commercially available solar equipment;
- Promoting and enhancing brand name and reputation;
- Developing and utilizing a process-driven approach to sell and install
  solar power systems in the Jamaican market; and

6

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- Capitalizing on the fact we are not a manufacturer, but rather a supplier
  of solutions using the best technology available given our finances. By
  consistently reappraising the markets and supplying state of the art solar
  cell technology, we expect that we will be able to select the best solution
  for any particular project.

On March 18, 2011 we entered into a purchase and sale agreement
with N.A.T. Enterprise whereby N.A.T. Enterprise has agreed to acquire three of
our 750W and one of our 2.0KW solar power systems for a total purchase price of
$36,238.50. Pursuant to the agreement, N.A.T. will pay 10% of the purchase price
within 45 days of the execution of the agreement (already paid) and the
remaining 90% within 30 days after delivery of the ordered equipment. As of June
30, 2011 this equipment has not yet been delivered. We have sourced the products
we are selling to N.A.T. from Shenzhen Commonpraise Solar Co. On May 20, 2011,
we received 10% of the purchase price from N.A.T. pursuant to the purchase and
sale agreement.

Products and Services

Initially we intend to market and distribute solar home systems
within the range of 750 watts to 4 kilowatts. These products have a wide range
of power and can be used to power all electrical products in the home, depending
on the devices used and amount of time the devices are used.

We expect that all of our systems will include all parts for
installation, including solar panels, batteries, controller, inverter, and
cables.

We anticipate that each of our proposed systems can be
independent systems (off-grid) or can be hybrid systems. Our proposed hybrid
systems would allow for the solar panel to connect to a grid, but still use the
power from the solar panels. When the battery runs dry from the energy from the
solar cells, the residence can tap into grid system for alternative power. This
way, the home will always have the use of electricity even when there may be no
sun for longs periods of time. The cost of converting an independent system into
a hybrid system is minimal.

Results of Operations for the Three Months Ended April 30,
2011 and 2010 and Nine Months Ended April 30, 2011 and the period from Inception
(December 8, 2009) to April 30, 2010 and April 30, 2011

We have not earned any revenues from inception through the
period ending April 30, 2011.

December 8,
    
    
    December 8,Three
    
    
    Three
    
    
    
    
    
    2009
    
    
    2009Months
    
    
    Months
    
    
    Nine Months
    
    
    (Inception)
    
    
    (Inception)Ended
    
    
    Ended
    
    
    Ended
    
    
    through
    
    
    throughApril 30,
    
    
    April 30,
    
    
    April 30,
    
    
    April 30,
    
    
    April 30,2011
    
    
    2010
    
    
    2011
    
    
    2010
    
    
    2011Revenues
    $
    Nil
    
    $
    Nil
    
    $
    Nil
    
    $
    Nil
    
    $
    NilExpenses
    $
    10,979
    
    $
    2,443
    
    $
    45,748
    
    $
    3,293
    
    $
    51,564Net Loss
    $
    (10,979
    )
    $
    (2,443
    )
    $
    (45,748
    )
    $
    (3,293
    )
    $
    (51,564
    )


We incurred a net loss in the amount of $10,979for the three
months ended April 30, 2011 compared to $2,443 for the three months ended April
30, 2010 and a net loss in the amount of $45,748 for the nine months ended April
30, 2011 compared to $3,293 from inception on December 8, 2009 to April 30,
2010. We incurred a net loss of $51,564 from our inception on December 8, 2009
to April 30, 2011.

7

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|                              |   |           |  |   |           |  |   |             |  |   | December 8, |  |   | December 8, | 
|----------------------------- | - | --------- |  | - | --------- |  | - | ----------- |  | - | ----------- |  | - | ----------- | 
|                              |   | Three     |  |   | Three     |  |   |             |  |   | 2009        |  |   | 2009        | 
|                              |   | Months    |  |   | Months    |  |   | Nine Months |  |   | (Inception) |  |   | (Inception) | 
|                              |   | Ended     |  |   | Ended     |  |   | Ended       |  |   | through     |  |   | through     | 
|                              |   | April 30, |  |   | April 30, |  |   | April 30,   |  |   | April 30,   |  |   | April 30,   | 
|                              |   | 2011      |  |   | 2010      |  |   | 2011        |  |   | 2010        |  |   | 2011        | 
|General and administrative    | $ | 6,924     |  | $ | 641       |  | $ | 8,963       |  | $ | 1,491       |  | $ | 11,809      | 
|Depreciation and amortization | $ | 309       |  | $ | Nil       |  | $ | 464         |  | $ | Nil         |  | $ | 464         | 
|Professional fees             | $ | 3,746     |  | $ | 1,802     |  | $ | 36,321      |  | $ | 1,802       |  | $ | 39,291      | 

Our operating expenses incurred for the three months ended
April 30, 2011 included $6,924 for general and administrative expenses, $309 in
depreciation and amortization and $3,746 in professional fees compared to the
three months ended April 30, 2010 of $641 for general and administrative
expenses, $Nil in depreciation and amortization and $1,802 in professional fees.
Our operating expenses for the nine month period ended April 30, 2011 included
$8,963 for general and administrative expenses, $464 in depreciation and
amortization and $36,321 in professional fees compared to the period from
inception on December 8, 2009 to April 30, 2010 of $1,491 for general and
administrative expenses, $Nil in depreciation and amortization and $1,802 in
professional fees.

Our operating expenses incurred for the period from inception
on December 8, 2009 to April 30, 2011 included $11,809 for general and
administrative expenses, $464 in depreciation and amortization and $39,291 in
professional fees.

Liquidity and Capital Resources

Working CapitalApril 30,
    
    
    July 31,2011
    
    
    2010Current Assets
    $
    1,347
    
    $
    43,344Current Liabilities
    $
    16,507
    
    $
    850Working Capital
    $
    (15,160
    )
    $
    42,494


|Cash Flows                                                |   |             |   |   | December 8,    |   |   | December 8,    |  
|--------------------------------------------------------- | - | ----------- | - | - | -------------- | - | - | -------------- | -
|                                                          |   | Nine Months |   |   | 2009           |   |   | 2009           |  
|                                                          |   | Ended       |   |   | (Inception) to |   |   | (Inception) to |  
|                                                          |   | April 30,   |   |   | April 30,      |   |   | April 30,      |  
|                                                          |   | 2011        |   |   | 2010           |   |   | 2011           |  
|Net Cash Provided by (Used in) Operating
      Activities | $ | (43,051     | ) | $ | (3,293         | ) | $ | (48,867        | )
|Net Cash Provided by (Used In) Investing Activities       | $ | (12,370     | ) | $ | Nil            |   | $ | (12,370        | )
|Net Cash Provided by Financing Activities                 | $ | 13,424      |   | $ | 6,000          |   | $ | 62,584         |  
|Net Increase (Decrease) In Cash During The Period         | $ | (41,997     | ) | $ | 2,707          |   | $ | 1,347          |  

As of April 30, 2011, our company had a working capital deficit
of $15,160.

As of April 30, 2011, we had current assets in the amount of
$1,347, consisting of cash. Our current liabilities as of April 30, 2011 were
$16,507. We had a working capital deficit of $15,160 on April 30, 2011.

Our cash used in operating activities was $43,051 for the nine
months ended April 30, 2011. Our cash used in operating activities was $3,293
for the period from inception on December 8, 2009 to April 30, 2010, compared to
$48,867 for the period from inception on December 8, 2009 to April 30, 2011.

Our cash used in investing activities was $12,379 for the nine
months ended April 30, 2011. Our cash used in investing activities was $Nil for
the period from inception on December 8, 2009 to April 30, 2010, compared to
$12,370 for the period from inception on December 8, 2009 to April 30, 2011.

8

---

Our cash used in financing activities was $13,424 for the nine
months ended April 30, 2011. Our cash used in financing activities was $6,000
for the period from inception on December 8, 2009 to April 30, 2010, compared to
$62,584 for the period from inception on December 8, 2009 to April 30, 2011.

We have not attained profitable operations and are dependent
upon obtaining financing to pursue our business plan over the next twelve
months. If we do not generate revenue sufficient to sustain operations, we may
not be able to continue as a going concern.

Off Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on our financial condition,
changes in financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that is material to
stockholders.

Going Concern

The accompanying financial statements have been prepared
assuming that our company will continue as a going concern. As discussed in the
notes to the financial statements, we have no established source of revenue. Our
auditors have expressed substantial doubt about our ability to continue as a
going concern. Without realization of additional capital, it would be unlikely
for us to continue as a going concern. The financial statements do not include
any adjustments that might result from this uncertainty.

Our activities to date have been supported by equity financing.
We have sustained losses in all previous reporting periods with an inception to
date loss of $51,564 as of April 30, 2011. Management continues to seek funding
from our shareholders and other qualified investors to pursue our business plan.
In the alternative, we may be amenable to a sale, merger or other acquisition in
the event such transaction is deemed by management to be in the best interests
of the shareholders.

Critical Accounting Policies

In December 2001, the SEC requested that all registrants list
their most "critical accounting polices" in the Management Discussion and
Analysis. The SEC indicated that a "critical accounting policy" is one which is
both important to the portrayal of a company's financial condition and results,
and requires management's most difficult, subjective or complex judgments, often
as a result of the need to make estimates about the effect of matters that are
inherently uncertain. We believe that the following accounting policies fit this
definition.

Use of Estimates

The preparation of consolidated financial statements in
conformity with United States generally accepted accounting principles 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 consolidated financial statements and the reported amounts of
revenues and expenses during the reporting period. Our company regularly
evaluates estimates and assumptions related to useful life of long-lived assets
and deferred income tax asset valuation allowances. Our company bases its
estimates and assumptions on current facts, historical experience and various
other factors that it believes to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying values
of assets and liabilities and the accrual of costs and expenses that are not
readily apparent from other sources. The actual results experienced by our
company may differ materially and adversely from our companys estimates. To the
extent there are material differences between the estimates and the actual
results, future results of operations will be affected.

9

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Foreign Currency Translation

Our companys planned operations will be in Jamaica and the
Caribbean, which results in exposure to market risks from changes in foreign
currency exchange rates. The financial risk is the risk to our companys
operations that arise from fluctuations in foreign exchange rates and the degree
of volatility of these rates. Currently, our company does not use derivative
instruments to reduce its exposure to foreign currency risk. Our company's
functional currency for all operations worldwide is the U.S. dollar. Nonmonetary
assets and liabilities are translated at historical rates and monetary assets
and liabilities are translated at exchange rates in effect at the end of the
year. Revenues and expenses are translated at average rates for the year. Gains
and losses from translation of foreign currency financial statements into U.S.
dollars are included in current results of operations. Aggregate foreign
currency translation and transaction losses were insignificant for the
nine-month period ended April 30, 2011.

Item 3. Quantitative and Qualitative Disclosures About
Market Risk

As a "smaller reporting company", we are not required to
provide the information required by this Item.

Item 4. Controls and Procedures

Management's Report on Disclosure Controls and
Procedures

We carried out an evaluation, under the supervision and with
the participation of our management, including our president (our principal
executive officer, principal financial officer and principal accounting
officer), of the effectiveness of our disclosure controls and procedures. Based
upon that evaluation, our president (our principal executive officer, principal
financial officer and principal accounting officer) concluded that, as of the
end of the period covered in this report, our disclosure controls and procedures
were effective at ensuring that information required to be disclosed in reports
filed under the Securities and Exchange Act of 1934 is recorded, processed,
summarized and reported within the required time periods and is accumulated and
communicated to our management, including our president (our principal executive
officer, principal financial officer and principal accounting officer), as
appropriate to allow timely decisions regarding required disclosure.

Our management, including our president (our principal
executive officer, principal financial officer and principal accounting
officer), does not expect that our disclosure controls and procedures or our
internal controls will prevent all error or fraud. A control system, no matter
how well conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of the control system are met. Further, the design
of a control system must reflect the fact that there are resource constraints
and the benefits of controls must be considered relative to their costs. Due to
the inherent limitations in all control systems, no evaluation of controls can
provide absolute assurance that all control issues and instances of fraud, if
any, have been detected. We performed additional analysis and other post-closing
procedures in an effort to ensure our consolidated financial statements included
in this quarterly report have been prepared in accordance with generally
accepted accounting principles. Accordingly, management believes that the
financial statements included in this report fairly present in all material
respects our financial condition, results of operations and cash flows for the
periods presented.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial
reporting during the quarterly period covered by this report that have
materially affected, or are reasonably likely to materially affect, our internal
control over financial reporting.

10

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We know of no material, existing or pending legal proceedings
against our company, nor are we involved as a plaintiff in any material
proceeding or pending litigation. There are no proceedings in which any of our
directors, officers or affiliates, or any registered or beneficial shareholder,
is an adverse party or has a material interest adverse to our interest.

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

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. [Removed and Reserved]

Item 5. Other Information

None.

11

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Item 6. Exhibits

|Exhibit No. | Description                                                                                                                                                                                                                                         
|----------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(3)         | (i) Articles
        of Incorporation; (ii) By-laws                                                                                                                                                                                                 
|3.1         | Articles of Incorporation of
        Degaro Innovations Corp. (Incorporated by reference to our Registration
        Statement on Form S-1 filed on October 5, 2010).                                                                               
|3.2         | Certificate of
        Amendment filed with the Nevada Secretary of State on January 29, 2010.
        (Incorporated by reference to our Registration Statement on Form S-1 filed
        on October 5, 2010).                                      
|3.3         | Bylaws of Degaro Innovations
        Corp. (Incorporated by reference to our Registration Statement on Form
        S-1 filed on October 5, 2010).                                                                                                  
|3.4         | Certificate of
        Incorporation of Degaro Limited (Incorporated by reference to our Registration
        Statement on Form S-1 filed on October 5, 2010).                                                                                      
|(4)         | Instruments defining the rights
        of security holders, including indentures                                                                                                                                                                   
|4.1         | Form of Share
        Certificate (Incorporated by reference to our Registration Statement on
        Form S-1 filed on October 5, 2010).                                                                                                           
|(10)        | Material Contracts                                                                                                                                                                                                                                  
|10.1        | Exclusive Distribution
        Agreement between Degaro Innovations Corp. and Shenzhen Commonpraise Co.,
        Ltd dated January 6, 2011. (Incorporated by reference to our Registration
        Statement on Form S-1 filed on January 25, 2011).
|10.2        | Purchase and Sale Agreement with
        N.A.T. Enterprise (Incorporated by reference to our Registration Statement
        on Form S-1 filed on May 24, 2011).                                                                                     
|(21)        | Subsidiaries
        of the Registrant                                                                                                                                                                                                              
|21.1        | Degaro Limited                                                                                                                                                                                                                                      
|(31)        | Rule 13a-14(a)
        / 15d-14(a) Certifications                                                                                                                                                                                                   
|31.1*       | Certification
        pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of the Principal
        Executive Officer, Principal Financial Officer and Principal Accounting
        Officer.                                                   
|(32)        | Section 1350
        Certifications                                                                                                                                                                                                                 
|32.1*       | Certification
        pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of the Principal
        Executive Officer, Principal Financial Officer and Principal Accounting
        Officer.                                                   

* Filed herewith.

12

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SIGNATURES

In accordance with the requirements of the Securities and
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

|                    | DEGARO INNOVATIONS CORP.                                       
|------------------- | ---------------------------------------------------------------
|                    | (Registrant)                                                   
|                    |                                                                
|Date: July 28, 2011 | /s/
      Sheryl Briscoe                                       
|                    | Sheryl Briscoe                                                 
|                    | President, Secretary, Treasurer and Director                   
|                    | (Principal Executive Officer, Principal
      Financial Officer
|                    | and Principal Accounting Officer)                              

13

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