| Florida                                                        | 59-2291344                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) |
|                                                           |                                 |
| 700 – 1 Toronto St., Toronto, Ontario, Canada            | M5C 2V6                              |
| (Address of Principal Executive Offices)                       | (Zip Code)                           |

| Large Accelerated Filer £ | Accelerated Filer £ | Non-Accelerated Filer R | Smaller Reporting Company £ |
|--------------------------------|--------------------------|-------------------------|----------------------------------|

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|     | PAGE                                        |
|----------|---------------------------------------------|
|     |                                        |
| PART IV  |
| Item 15. | Exhibits and Financial Statement Schedules. | 4 |

----

|   | (a) | The following financial statements and those financial statement schedules required by Item 8 hereof are filed as part of this Report: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Financial Statements: (18) |
|--------|----|----------------------------|

|   | 2. | Financial Statement Schedule: (18) |
|--------|----|------------------------------------|

|   | (b) | The following exhibits are filed as part of this Report: |
|--------|-----|----------------------------------------------------------|

| Exhibit Number |   | Title of Exhibit                                                                                                                            |
|---------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|
|                |   |                                                                                                                                        |
| 3.1(i)              |   | Amended and Restated Articles of Incorporation. (1)                                                                                         |
|                |   |                                                                                                                                        |
| 3.2(ii)             |   | Bylaws as amended (2)                                                                                                                       |
|                |   |                                                                                                                                        |
| 3.2(iii)            |   | Articles of Amendment to the Amended and Restated Articles of Incorporation (11)                                                            |
|                |   |                                                                                                                                        |
| 10.1*               |   | 1997 Recruitment Stock Option Plan. (3)                                                                                                     |
|                |   |                                                                                                                                        |
| 10.2*               |   | 2001 Stock Option and Appreciation Rights Plan. (4)                                                                                         |
|                |   |                                                                                                                                        |
| 10.2.1*             |   | 2003 Stock Option and Appreciation Rights Plan. (5)                                                                                         |
|                |   |                                                                                                                                        |
| 10.3*               |   | 2010 Non-Qualified Stock Option Plan (12)                                                                                                   |
|                |   |                                                                                                                                        |
| 10.4*               |   | Counsel Management Agreement. (7)                                                                                                           |
|                |   |                                                                                                                                        |
| 10.5                |   | Stipulation of Dismissal with Prejudice dated as of March 12, 2009. (8)                                                                     |
|                |   |                                                                                                                                        |
| 10.6                |   | LLC Membership Interest Purchase Agreement among Greystone & Co. Holdings LLC and Counsel RB Capital LLC, dated as of May 28, 2009. (9) |
|                |   |                                                                                                                                        |
| 10.7                |   | Promissory Note between Counsel RB Capital LLC and Greystone & Co. Holdings LLC, dated as of May 28, 2009. (9)                          |
|                |   |                                                                                                                                        |
| 10.8                |   | Loan and Security Agreement between Israel Discount Bank of New York (as Agent) and Counsel RB Capital LLC, dated as of June 2, 2009. (9)   |

----

| Exhibit Number |   | Title of Exhibit                                                                                                                                   |
|---------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|
|                |   |                                                                                                                                               |
| 10.9                |   | Sixth Amendment to Loan Agreement between C2 Global Technologies Inc. and Counsel Corporation dated January 26, 2004, dated as of May 5, 2009. (9) |
|                |   |                                                                                                                                               |
| 10.10               |   | Promissory Note for $2,590,989.63 dated May 5, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (9)                               |
|                |   |                                                                                                                                               |
| 10.11               |   | Promissory Note for $90,000.00 dated June 30, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (9)                                |
|                |   |                                                                                                                                               |
| 10.12               |   | Promissory Note for $128,712.86 dated June 30, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (9)                               |
|                |   |                                                                                                                                               |
| 10.13               |   | Promissory Note for $200,000.00 dated September 30, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (10)                         |
|                |   |                                                                                                                                               |
| 10.14               |   | Promissory Note for $90,000.00 dated September 30, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (10)                          |
|                |   |                                                                                                                                               |
| 10.15               |   | Promissory Note for $87,806.64 dated September 30, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (10)                          |
|                |   |                                                                                                                                               |
| 10.16               |   | Promissory Note for $320,000.00 dated December 31, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (13)                          |
|                |   |                                                                                                                                               |
| 10.17               |   | Promissory Note for $90,000.00 dated December 31, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (13)                           |
|                |   |                                                                                                                                               |
| 10.18               |   | Promissory Note for $129,950.17 dated December 31, 2009 between C2 Global Technologies Inc. and Counsel Corporation. (13)                          |
|                |   |                                                                                                                                               |
| 10.19               |   | Promissory Note for $620,540.88 dated March 31, 2010 between C2 Global Technologies Inc. and Counsel Corporation. (14)                             |
|                |   |                                                                                                                                               |
| 10.20               |   | Promissory Note for $90,000.00 dated March 31, 2010 between C2 Global Technologies Inc. and Counsel Corporation. (14)                              |
|                |   |                                                                                                                                               |
| 10.21               |   | Promissory Note for $207,036.21 dated March 31, 2010 between C2 Global Technologies Inc. and Counsel Corporation. (14)                             |
|                |   |                                                                                                                                               |
| 10.22               |   | Promissory Note for $341,978.44 dated June 30, 2010 between C2 Global Technologies Inc. and Counsel Corporation. (15)                              |
|                |   |                                                                                                                                               |
| 10.23               |   | Promissory Note for $90,000.00 dated June 30, 2010 between C2 Global Technologies Inc. and Counsel Corporation. (15)                               |
|                |   |                                                                                                                                               |
| 10.24               |   | Promissory Note for $26,781.64 dated June 30, 2010 between C2 Global Technologies Inc. and Counsel Corporation. (15)                               |
|                |   |                                                                                                                                               |
| 10.25               |   | LLC Interest Purchase Agreement between C2 Global Technologies Inc. and Kind Chin Associates, LLC, dated as of December 10, 2010. (16)             |
|                |   |                                                                                                                                               |
| 10.26               |   | LLC Interest Purchase Agreement between C2 Global Technologies Inc. and Forsons Equity, LLC, dated as of December 10, 2010. (16)                   |
|                |   |                                                                                                                                               |
| 10.27*              |   | Employment Agreement between C2 Global Technologies Inc. and Jonathan Reich, dated as of January 19, 2011. (12)                                    |

----

| Exhibit Number |   | Title of Exhibit                                                                                                                                                                     |
|----------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|           |   |                                                                                                                                                                                 |
| 10.28*         |   | Employment Agreement between C2 Global Technologies Inc. and Adam Reich, dated as of January 19, 2011. (12)                                                                     |
| 10.29*         |   | Form of Option Grant for Options Granted Under 2010 Non-Qualified Stock Option Plan. (18)                                                                                            |
|           |   |                                                                                                                                                                                 |
| 10.30          |   | Share Purchase Agreement between Counsel RB Capital Inc. and Werklund Capital Corporation, dated as of March 15, 2011. (17)                                                          |
|           |   |                                                                                                                                                                                 |
| 14             |   | C2 Global Technologies Inc. Code of Conduct. (6)                                                                                                                                     |
|           |   |                                                                                                                                                                                 |
| 21             |   | List of subsidiaries. (18)                                                                                                                                                           |
|           |   |                                                                                                                                                                                 |
| 31.1           |   | Certification of the CEO pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith) |
|           |   |                                                                                                                                                                                 |
| 31.2           |   | Certification of the CFO pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith) |
|           |   |                                                                                                                                                                                 |
| 32.1           |   | Certification pursuant to 18 U.S.C. 1350 as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002 (filed herewith)                                                       |
|           |   |                                                                                                                                                                                 |
| 32.2           |   | Certification pursuant to 18 U.S. C. 1350 as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002 (filed herewith)                                                      |

|   | (1) | Incorporated by reference to our Quarterly Report on Form 10-QSB for the quarter ended June 30, 1996, file number 0-17973. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Incorporated by reference to our Quarterly Report on Form 10-Q for the period ended September 30, 1998, file number 0-17973. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Incorporated by reference to our Definitive Proxy Statement for the October 7, 1997 annual stockholder meeting. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (4) | Incorporated by reference to our Definitive Proxy Statement for the September 7, 2001 annual stockholder meeting. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (5) | Incorporated by reference to our Definitive Proxy Statement for the November 26, 2003 annual stockholder meeting. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (6) | Incorporated by reference to our Annual Report on Form 10-K for the year ended December 31, 2003. |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (7) | Incorporated by reference to our Current Report on Form 8-K filed on January 6, 2005. |
|--------|-----|---------------------------------------------------------------------------------------|

|   | (8) | Incorporated by reference to our Annual Report on Form 10-K for the year ended December 31, 2008. |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (9) | Incorporated by reference to our Quarterly Report on Form 10-Q for the period ended June 30, 2009. |
|--------|-----|----------------------------------------------------------------------------------------------------|

|   | (10) | Incorporated by reference to our Quarterly Report on Form 10-Q for the period ended September 30, 2009. |
|--------|------|---------------------------------------------------------------------------------------------------------|

|   | (11) | Incorporated by reference to our Definitive Schedule 14C Information Statement filed on December 23, 2010. |
|--------|------|------------------------------------------------------------------------------------------------------------|

|   | (12) | Incorporated by reference to our Current Report on Form 8-K filed on January 24, 2011. |
|--------|------|----------------------------------------------------------------------------------------|

|   | (13) | Incorporated by reference to our Annual Report on Form 10-K for the year ended December 31, 2009. |
|--------|------|---------------------------------------------------------------------------------------------------|

|   | (14) | Incorporated by reference to our Quarterly Report on Form 10-Q for the period ended March 31, 2010. |
|--------|------|-----------------------------------------------------------------------------------------------------|

----

|   | (15) | Incorporated by reference to our Quarterly Report on Form 10-Q for the period ended June 30, 2010. |
|--------|------|----------------------------------------------------------------------------------------------------|

|   | (16) | Incorporated by reference to our Current Report on Form 8-K filed on December 14, 2010. |
|--------|------|-----------------------------------------------------------------------------------------|

|   | (17) | Incorporated by reference to our Current Report on Form 8-K filed on March 18, 2011. |
|--------|------|--------------------------------------------------------------------------------------|

|   | (18) | Incorporated by reference to our Annual Report on Form 10-K for the year ended December 31, 2010 filed on March 31, 2011. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------|

----

|                   | COUNSEL RB CAPITAL INC.                              |
|------------------------|------------------------------------------------------|
|                   | (Registrant)                                         |
|                   |                                                 |   |
| Dated: August 31, 2011 | By:                                             | /s/ Allan C. Silber |
|                   | Allan C. Silber, Chairman of the Board and President |
|                   | Principal Executive Officer                          |

| Signature               |   | Title                                                                     |   | Date            |
|-------------------------|--------|---------------------------------------------------------------------------|--------|-----------------|
|                    |   |                                                                      |   |            |
| /s/ Allan C. Silber     |   | Chairman of the Board of Directors and President                          |   | August 31, 2011 |
| Allan C. Silber         |   | Principal Executive Officer                                               |   |            |
|                    |   |                                                                      |   |            |
| /s/Jonathan S. Reich    |   | Co-Chief Executive Officer                                                |   | August 31, 2011 |
| Jonathan S. Reich       |   |                                                                      |   |            |
|                    |   |                                                                      |   |            |
| /s/Adam M. Reich        |   | Co-Chief Executive Officer                                                |   | August 31, 2011 |
| Adam M. Reich           |   |                                                                      |   |            |
|                    |   |                                                                      |   |            |
| /s/Stephen A. Weintraub |   | Executive Vice President, Chief Financial Officer and Corporate Secretary |   | August 31, 2011 |
| Stephen A. Weintraub    |   | Principal Financial Officer                                               |   |            |
|                    |   |                                                                      |   |            |
| /s/ Hal B. Heaton       |   | Director                                                                  |   | August 31, 2011 |
| Hal B. Heaton           |   |                                                                      |   |            |
|                    |   |                                                                      |   |            |
| /s/ J. Brendan Ryan     |   | Director                                                                  |   | August 31, 2011 |
| J. Brendan Ryan         |   |                                                                      |   |            |
|                    |   |                                                                      |   |            |
| /s/ Samuel L. Shimer    |   | Director                                                                  |   | August 31, 2011 |
| Samuel L. Shimer        |   |                                                                      |   |            |
|                    |   |                                                                      |   |            |
| /s/ Henry Y. L. Toh     |   | Director                                                                  |   | August 31, 2011 |
| Henry Y.L. Toh          |   |                                                                      |   |            |
|                    |   |                                                                      |   |            |
| /s/ David L. Turock     |   | Director                                                                  |   | August 31, 2011 |
| David L. Turock         |   |                                                                      |   |            |

----

|                                                              | Page |
|-------------------------------------------------------------------|------|
| Separate Financial Statements of 50 Percent-or-Less-Owned Persons | S-1  |

----

|                                                    | Index     |
|---------------------------------------------------------|-----------|
|                                                    |      |
| Report of Independent Registered Public Accounting Firm | S–2 |
|                                                    |      |
| Balance Sheet                                           | S–3 |
|                                                    |      |
| Statement of Operations                                 | S–4 |
|                                                    |      |
| Statement of Cash Flows                                 | S–5 |
|                                                    |      |
| Statement of Partners’ Equity                     | S–6 |
|                                                    |      |
| Notes to the Financial Statements                       | S–7 |

----

----

|                                              |   | December 31,2010$ |      |
|---------------------------------------------------|--------|-------------------|-----------|
|                                              |   |              |      |
| ASSETS                                            |   |              |      |
|                                              |   |              |      |
| Current Assets                                    |   |              |      |
| Due from joint venture partner (Note 3)           |   |              | 951,937   |   |
| Accounts receivable                               |   |              | 2,816,174 |   |
| Inventory                                         |   |              | 2,246,045 |   |
|                                              |   |              |      |   |
| Total Assets                                      |   |              | 6,014,156 |   |
|                                              |   |              |      |   |
| LIABILITIES AND PARTNERS’ EQUITY            |   |              |      |   |
|                                              |   |              |      |   |
| Current Liabilities                               |   |              |      |   |
| Accounts payable and accrued liabilities (Note 4) |   |              | 2,746,972 |   |
|                                              |   |              |      |   |
| Total Liabilities                                 |   |              | 2,746,972 |   |
|                                              |   |              |      |   |
| Commitments and Contingencies (Notes 1 and 6)     |   |              |      |   |
| Subsequent Events (Note 7)                        |   |              |      |   |
|                                              |   |              |      |   |
| Partners’ Equity                            |   |              | 3,267,184 |   |
|                                              |   |              |      |   |
| Total Liabilities and Partners’ Equity      |   |              | 6,014,156 |   |

----

|                                |   | For the Period              |       |
|-------------------------------------|--------|-----------------------------|------------|
|                                |   | From March 18,2010 (Date of |       |
|                                |   | Inception) to               |       |
|                                |   | December 31,                |       |
|                                |   | 2010                        |       |
|                                |   | $                           |       |
|                                |   |                        |       |
| Revenue (Note 5)                    |   |                        | 53,634,042 |   |
|                                |   |                        |       |   |
| Operating Costs and Expenses        |   |                        |       |   |
| Costs of sales                      |   |                        | 37,352,872 |   |
| General and administrative          |   |                        | 219,752    |   |
| Selling and distribution            |   |                        | 4,093,349  |   |
|                                |   |                        |       |   |
| Total Operating Costs and Expenses  |   |                        | 41,665,973 |   |
|                                |   |                        |       |   |
| Net Income and Comprehensive Income |   |                        | 11,968,069 |   |

----

|                                         |   | For the Period             |        |
|----------------------------------------------|--------|----------------------------|-------------|
|                                         |   | From March18, 2010(Date of |        |
|                                         |   | Inception) to              |        |
|                                         |   | December 31,               |        |
|                                         |   | 2010                       |        |
|                                         |   | $                          |        |
|                                         |   |                       |        |
| Operating Activities                         |   |                       |        |
|                                         |   |                       |        |
| Net income for the period                    |   |                       | 11,968,069  |   |
|                                         |   |                       |        |   |
| Changes in operating assets and liabilities: |   |                       |        |   |
| Due from joint venture partner               |   |                       | (951,937    | ) |
| Accounts receivable                          |   |                       | (2,816,174  | ) |
| Inventory                                    |   |                       | (2,246,045  | ) |
| Accounts payable and accrued liabilities     |   |                       | 2,746,972   |   |
|                                         |   |                       |        |   |
| Net Cash Provided by Operating Activities    |   |                       | 8,700,885   |   |
|                                         |   |                       |        |   |
| Financing Activities                         |   |                       |        |   |
|                                         |   |                       |        |   |
| Partners’ capital contributions        |   |                       | 39,598,917  |   |
| Partners’ capital distributions        |   |                       | (48,299,802 | ) |
|                                         |   |                       |        |   |
| Net Cash Used in Financing Activities        |   |                       | (8,700,885  | ) |
|                                         |   |                       |        |   |
| Increase (decrease) in Cash                  |   |                       | -           |   |
|                                         |   |                       |        |   |
| Cash - Beginning of Period                   |   |                       | -           |   |
|                                         |   |                       |        |   |
| Cash - End of Period                         |   |                       | -           |   |

----

|                                        |   | For the Period              |        |
|---------------------------------------------|--------|-----------------------------|-------------|
|                                        |   | From March 18,2010 (Date of |        |
|                                        |   | Inception) to               |        |
|                                        |   | December 31,                |        |
|                                        |   | 2010                        |        |
|                                        |   | $                           |        |
|                                        |   |                        |        |
| Balance, March 18, 2010 (date of inception) |   |                        | –     |   |
| Partners’ contributions               |   |                        | 39,598,917  |   |
| Net income for the period                   |   |                        | 11,968,069  |   |
| Partners’ distributions               |   |                        | (48,299,802 | ) |
|                                        |   |                        |        |   |
| Balance, December 31, 2010                  |   |                        | 3,267,184   |   |

----

----

|                                                           |   | December 31,2010$ |      |
|----------------------------------------------------------------|--------|-------------------|-----------|
|                                                           |   |              |      |
| Trade accounts payable                                         |   |              | 730,627   |   |
| Accrued costs for security and utilities to maintain inventory |   |              | 2,016,345 |   |
|                                                           |   |              |      |   |
|                                                           |   |              | 2,746,972 |   |

----

|       |   | Period fromMarch 18, 2010(Date ofInception) toDecember 31,2010$ |       |
|------------|--------|-----------------------------------------------------------------------------------------------|------------|
|       |   |                                                                                          |       |
| Customer 1 |   |                                                                                          | 34,160,000 |   |
| Customer 2 |   |                                                                                          | 11,000,000 |   |
|       |   |                                                                                          |       |   |
| Total      |   |                                                                                          | 45,160,000 |   |

----

----

----

| Management's Responsibility       |   |
|-----------------------------------|--------|
|                              |   |
| Independent Auditors' Report      |   |
|                              |   |
| Financial Statements              |   |
|                              |   |
| Balance Sheet                     | S-14   |
|                              |   |
| Statement of Operations           | S-15   |
|                              |   |
| Statement of Partners' Capital    | S-16   |
|                              |   |
| Statement of Cash Flows           | S-17   |
|                              |   |
| Notes to the Financial Statements | S-18   |

----

----

|        |   |
|------------------|--------|
| Managing Partner |   |

----

| Montréal, Québec  |                       |
|----------------------------------|-----------------------|
| August 23, 2011                  | Chartered Accountants |
| 1 CA auditor permit No. 10564    |                  |

|  | COMPTABILITÉ  ›  CONSULTATION  ›  FISCALITÉ    ACCOUNTING  ›  CONSULTING  ›  TAX1155, BOUL. RENÉ-LÉVESQUE O., BUREAU 2010, MONTRÉAL QC  H3B 2J8TÉL: 514.861.9724  TÉLÉC: 514.861.9446  mnp.ca |
|--|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                     |   | January 31,2011 |    |   | January 312010(Unaudited |   |
|------------------------------------------|--------|-----------------|---------|--------|--------------------------|--------|
|                                     |   |            |    |   |                     |   |
| Asset                                    |   |            |    |   |                     |   |
| Cash                                     |   |            | 111,612 |   |                     |   | 381,222 |   |
| Goods and services tax recoverable       |   |            | 22,748  |   |                     |   | 1,413,354 |   |
| Deposits                                 |   |            | -       |   |                     |   | 82,370 |   |
| Assets held for sale                     |   |            | -       |   |                     |   | 10,500,000 |   |
|                                     |   |            |    |   |                     |   |   |   |
|                                     |   |            | 134,360 |   |                     |   | 12,376,946 |   |
|                                     |   |            |    |   |                     |   |   |   |
| Liabilities                              |   |            |    |   |                     |   |   |   |
| Accounts payable and accrued liabilities |   |            | 80,057  |   |                     |   | 148,373 |   |
|                                     |   |            |    |   |                     |   |   |   |
| Contingencies (Note 3)                   |   |            |    |   |                     |   |   |   |
|                                     |   |            |    |   |                     |   |   |   |
| Partners' Capital                        |   |            | 54,303  |   |                     |   | 12,228,573 |   |
|                                     |   |            |    |   |                     |   |   |   |
|                                     |   |            | 134,360 |   |                     |   | 12,376,946 |   |

|    |   |    | Director |
|---------|--------|---------|----------|
| Partner |   | Partner |

----

----

|                            |   | 12 MonthsEndedJanuary 31,2011 |       |   | 6 MonthsEndedJanuary 312010(Unaudited) |   |
|---------------------------------|--------|-----------------------------------------|------------|--------|--------------------------------------------------|--------|
|                            |   |                                    |       |   |                                             |   |
| Revenue from auction            |   |                                    | 25,699,640 |   |                                             |   | 30,000 |   |
|                            |   |                                    |       |   |                                             |   |   |   |
| Expenses                        |   |                                    |       |   |                                             |   |   |   |
| Equipment purchased for auction |   |                                    | 10,704,600 |   |                                             |   | - |   |
| Advertising and promotion       |   |                                    | 193,621    |   |                                             |   | 11,547 |   |
| Commissions                     |   |                                    | 2,900,205  |   |                                             |   | 100,000 |   |
| Office                          |   |                                    | 490,922    |   |                                             |   | 115,882 |   |
| Professional fees               |   |                                    | 242,472    |   |                                             |   | 29,635 |   |
| Salaries, wages and benefits    |   |                                    | 203,607    |   |                                             |   | 97,366 |   |
| Utilities                       |   |                                    | 609,731    |   |                                             |   | 196,318 |   |
|                            |   |                                    |       |   |                                             |   |   |   |
|                            |   |                                    | 15,345,158 |   |                                             |   | 550,748 |   |
|                            |   |                                    |       |   |                                             |   |   |   |
| Net income (loss)               |   |                                    | 10,354,482 |   |                                             |   | (520,748 | ) |

----

----

|                         |   | 12 MonthsEndedJanuary 31,2011 |        |   | 6 MonthsEndedJanuary 312010(Unaudited) |   |
|------------------------------|--------|-----------------------------------------|-------------|--------|--------------------------------------------------|--------|
|                         |   |                                    |        |   |                                             |   |
| Balance, beginning of period |   |                                    |        |   |                                             |   |
|                         |   |                                    | 12,228,573  |   |                                             |   | - |   |
| Contributions                |   |                                    | 248,561     |   |                                             |   | 12,749,321 |   |
| Withdrawals                  |   |                                    | (22,777,313 | )      |                                             |   | - |   |
| Net income (loss)            |   |                                    | 10,354,482  |   |                                             |   | (520,748 | ) |
|                         |   |                                    |        |   |                                             |   |   |   |
| Balance, end of period       |   |                                    | 54,303      |   |                                             |   | 12,228,573 |   |

----

----

|                                                  |   | 12 MonthsEndedJanuary 31,2011 |        |   | 6 MonthsEndedJanuary 312010(Unaudited) |   |
|-------------------------------------------------------|--------|-----------------------------------------|-------------|--------|--------------------------------------------------|--------|
|                                                  |   |                                    |        |   |                                             |   |
| Cash provided by (used for) the following activities: |   |                                    |        |   |                                             |   |
| Operating activities                                  |   |                                    |        |   |                                             |   |
| Net income (loss)                                     |   |                                    | 10,354,482  |   |                                             |   | (520,748 | ) |
| Changes in working capital accounts                   |   |                                    |        |   |                                             |   |   |   |
| Goods and services tax                                |   |                                    | 1,390,606   |   |                                             |   | (1,413,354 | ) |
| Deposits                                              |   |                                    | 82,370      |   |                                             |   | (82,370 | ) |
| Accounts payable and accrued liabilities              |   |                                    | (68,316     | )      |                                             |   | 148,373 |   |
| Assets held for sale                                  |   |                                    | 10,500,000  |   |                                             |   | (10,500,000 | ) |
|                                                  |   |                                    |        |   |                                             |   |   |   |
|                                                  |   |                                    | 22,259,142  |   |                                             |   | (12,368,099 | ) |
|                                                  |   |                                    |        |   |                                             |   |   |   |
| Financing                                             |   |                                    |        |   |                                             |   |   |   |
| Contributions by partners                             |   |                                    | 248,561     |   |                                             |   | 12,749,321 |   |
| Withdrawals by partners                               |   |                                    | (22,777,313 | )      |                                             |   | - |   |
|                                                  |   |                                    |        |   |                                             |   |   |   |
|                                                  |   |                                    | (22,528,752 | )      |                                             |   | 12,749,321 |   |
|                                                  |   |                                    |        |   |                                             |   |   |   |
| Increase (decrease) in cash                           |   |                                    | (269,610    | )      |                                             |   | 381,222 |   |
|                                                  |   |                                    |        |   |                                             |   |   |   |
| Cash, beginning of year                               |   |                                    | 381,222     |   |                                             |   | - |   |
|                                                  |   |                                    |        |   |                                             |   |   |   |
| Cash, end of year                                     |   |                                    | 111,612     |   |                                             |   | 381,222 |   |

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| 1. | Incorporation and operations |
|----|------------------------------|

|   | 9214-6463 Limited Partnership (the "Partnership"), was formed under the laws of the province of Quebec on July 10, 2009 for the purpose of  purchasing a specific set of assets out of a bankruptcy and to resell them at auction.  The revenue from auction was derived almost entirely from one customer and was collected prior to January 31, 2011. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Significant accounting policies |
|----|---------------------------------|

|   | The financial statements have been prepared in accordance with Canadian generally accepted accounting principles ("Canadian GAAP").  Note 5 describes the differences between Canadian GAAP and accounting principles generally accepted in the United States of America ("US GAAP") affecting the financial statements.  A summary of significant accounting policies are set out below. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Basis of presentation |
|--------|-----------------------|

|   | These financial statements reflect only the assets, liabilities, revenues and expenses of the Partnership and therefore do not include the assets, liabilities, revenues or expenses of the Partners or the liability of the Partners for income taxes on earnings of the Partnership. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Use of estimates |
|--------|------------------|

|   | The preparation of financial statements in conformity with Canadian GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | These estimates and assumptions are reviewed periodically and, as adjustments become necessary, they are reported in income in the period in which they become known. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Foreign currency translation |
|--------|------------------------------|

|   | Transaction amounts denominated in foreign currencies are translated into their Canadian dollar equivalents at exchange rates prevailing at the transaction dates.  Carrying values of monetary assets and liabilities reflect the exchange rates at the balance sheet date.  Gains and losses on translation or settlement are included in the determination of net income for the current period. At year end, the partnership had no financial assets or liabilities denominated in a foreign currency. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Revenue recognition |
|--------|---------------------|

|   | Revenue is recognized when persuasive evidence of an arrangement exists, the amount of the proceeds is fixed, delivery terms are arranged and collectability is reasonably assured. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Cash and cash equivalents |
|--------|---------------------------|

|   | Cash and cash equivalents include balances with banks and short-term investments with maturities of three months or less. |
|--------|---------------------------------------------------------------------------------------------------------------------------|

| 3. | Contingencies |
|----|---------------|

|   | The Partnership, each of the limited partners and others have been named as defendants in a legal action claiming $16,490,000 plus interest and juridical costs from each of the defendants. The action alleges that the defendants breached contractual obligations and acted in bad faith in connection with the acquisition and sale of assets, as described in Note 1 above. It is management’s opinion that the action is without merit and, as such, no amount has been provided for in the accompanying financial statements. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 4. | Comparative figures |
|----|---------------------|

|   | Certain comparative figures have been reclassified to conform with current year presentation. |
|--------|-----------------------------------------------------------------------------------------------|

| 5. | Financial instruments |
|----|-----------------------|

|   | Fair value of financial instruments |
|--------|-------------------------------------|

|   | The fair value of cash, goods and services tax recoverable and accounts payable and accrued liabilities is approximately equal to their carrying value given their short-term maturity date. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | US GAAP reconciliation |
|----|------------------------|

|   | a) | In 2011 and 2010, there were no significant differences reported in the financial statements between Canadian GAAP and US GAAP. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------|

|   | b) | Future accounting pronouncements |
|--------|----|----------------------------------|

|   | The FASB, the Emerging Issues Task Force and the Securities Exchange Commission have issued certain accounting pronouncements and regulations during 2010 that will become effective in subsequent months. The Partnership's management does not believe that these pronouncements and regulations will have a significant impact on the Partnership's financial statements at the time they become effective. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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