| Colorado                                             | 84-15070556                                |
|------------------------------------------------------|--------------------------------------------|
| (State or other jurisdiction of incorporation)  | (I.R.S. Employer Identification No.)  |
|                                                 |
| 601 Union Street, Suite 4500 Seattle, WA             | 98101                                      |
| (Address of principal executive offices)        | (Zip Code)                            |
|                                                 |                                       |

| Large accelerated filer | o | Accelerated filer         | o |
|-------------------------|---|---------------------------|---|
| Non-accelerated filer   | o | Smaller reporting company | T |

----

|     |     |                                                                                      | Page    |
|----------|----------|-------------------------------------------------------------------------------------------|---------|
|     |     |                                                                                      |    |
| PART I.  |     | FINANCIAL INFORMATION                                                                     |    |
|     |     |                                                                                      |    |
|     | Item 1.  | Financial Statements (unaudited)                                                          | 3       |
|     |     |                                                                                      |    |
|     |     | Consolidated Balance Sheets as of September 30, 2010 (unaudited) and December 31, 2009    | 3       |
|     |     |                                                                                      |    |
|     |     | Consolidated Statements of Operations (unaudited)                                         | 4       |
|     |     |                                                                                      |    |
|     |     |  Consolidated Statements of Stockholder's Equity       |  5 |
|     |     |                                                                                      |    |
|     |     | Consolidated Statements of Cash Flows (unaudited)                                         | 6       |
|     |     |                                                                                      |    |
|     |     | Notes to Financial Statements                                                             | 7       |
|     |     |                                                                                      |    |
|     | Item 2.  | Management’s Discussion and Analysis of Financial Condition                         | 14      |
|     |     |                                                                                      |    |
|     | Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                | 18      |
|     |     |                                                                                      |    |
|     | Item 4.  | Controls and Procedures                                                                   | 18      |
|     |     |                                                                                      |    |
| PART II. |     | OTHER INFORMATION                                                                         |    |
|     |     |                                                                                      |    |
|     | Item 1.  | Legal Proceedings                                                                         | 19      |
|     |     |                                                                                      |    |
|     | Item 1A. | Risk Factors                                                                              | 19      |
|     |     |                                                                                      |    |
|     | Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                               | 19      |
|     |     |                                                                                      |    |
|     | Item 3.  | Defaults Upon Senior Securities                                                           | 19      |
|     |     |                                                                                      |    |
|     | Item 4.  | Submission of Matters to a Vote of Security Holders                                       | 19      |
|     |     |                                                                                      |    |
|     | Item 5.  | Other Information                                                                         | 19      |
|     |     |                                                                                      |    |
|     | Item 6.  | Exhibits                                                                                  | 19      |
|     |     |                                                                                      |    |
|     |     | Signatures                                                                                | 20      |

----

| LEGEND OIL AND GAS LTD.                                                                                                       |   |
|-------------------------------------------------------------------------------------------------------------------------------|--------|
| (Formerly SIN Holdings, Inc. )                                                                                                |   |
| (A Development Stage Company)                                                                                                 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |
| CONSOLIDATED BALANCE SHEETS                                                                                                   |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |
|                                                                                                                          |   |   | (Unaudited) |   |   |   |   |   |
|                                                                                                                          |   |   |   September 30, |   |   |   | December 31, |   |
|                                                                                                                          |   |   | 2010 |   |   |   |   2009 |   |
| ASSETS                                                                                                                        |   |   |   |   |   |   |   |   |
| Current Assets                                                                                                                |   |   |   |   |   |   |   |   |
|      Cash and cash equivalents                                                                       |   |   | $ | 182,399 |   |   |   | $ | 489 |   |
|      Prepaid expenses                                                                                |   |   |   | 13,419 |   |   |   |   | - |   |
| Total Current Assets                                                                                                          |   |   |   | 195,818 |   |   |   |   | 489 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| Other Assets                                                                                                                  |   |   |   |   |   |   |   |   |   |   |
|      Assets of discontinued operations  (Note C)                                           |   |   |   | - |   |   |   |   | 5,071 |   |
| Total Other Assets                                                                                                            |   |   |   | - |   |   |   |   | 5,071 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| TOTAL ASSETS                                                                                                                  |   |   | $ | 195,818 |   |   |   | $ | 5,560 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)                                                                                |   |   |   |   |   |   |   |   |   |   |
| Current Liabilities                                                                                                           |   |   |   |   |   |   |   |   |   |   |
|      Accounts payable                                                                                |   |   | $ | 10,431 |   |   |   | $ | 1,625 |   |
|      Deposit                                                                                         |   |   |   | 250,000 |   |   |   |   |   |   |
|      Accrued interest - offering notes                                                               |   |   |   | - |   |   |   |   | 1,515 |   |
|      Currentl liabilities of discontinued operations                                                 |   |   |   | - |   |   |   |   | 485 |   |
| Total Current Liabilities                                                                                                     |   |   |   | 260,431 |   |   |   |   | 3,625 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| Long Term Liabilities                                                                                                         |   |   |   |   |   |   |   |   |   |   |
|      Loan from shareholder (Note G)                                                                  |   |   |   | - |   |   |   |   | 85,000 |   |
|      Accrued interest - shareholder loan                                                             |   |   |   | - |   |   |   |   | 11,058 |   |
|      Notes payable - offering  (Note - E)                                                  |   |   |   | - |   |   |   |   | 17,300 |   |
|      Notes payable of discontinued operations                                                        |   |   |   | - |   |   |   |   | 1,500 |   |
| Total Liabilities                                                                                                             |   |   |   | 260,431 |   |   |   |   | 118,483 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| Stockholders' Equity (Deficit)  (Note-  F)                                                                |   |   |   |   |   |   |   |   |   |   |
|      Preferred stock, $0.001 par value, 100,000,000 shares                                           |   |   |   |   |   |   |   |   |   |   |
|           authorized; issued and oustanding: nil (2009: 100,000)            |   |   |   | - |   |   |   |   | 100 |   |
|      Common stock, $0.001 par value;  400,000,000 share                                    |   |   |   |   |   |   |   |   |   |   |
|           authorized; issued and oustanding: 60,560,000 (2009: 145,560,000) |   |   |   | 60,560 |   |   |   |   | 145,560 |   |
|      Additional paid In capital                                                                      |   |   |   | 82,272 |   |   |   |   | (123,096 | ) |
|      Accumulated deficit                                                                             |   |   |   | (207,445 | ) |   |   |   | (135,487 | ) |
| Total Stockholders' Equity (Deficit)                                                                                          |   |   |   | (64,613 | ) |   |   |   | (112,923 | ) |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT )                                                                         |   |   | $ | 195,818 |   |   |   | $ | 5,560 |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| (The accompanying notes are an integral part of these financial statements)                                                   |   |

----

| LEGEND OIL AND GAS LTD.                                                                  |                       |
|------------------------------------------------------------------------------------------|----------------------------|
| (Formerly SIN Holdings, Inc.)                                                            |                       |
| (A Development Stage Company)                                                            |                       |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CONSOLIDATED STATEMENT OF OPERATIONS                                                     |                       |
| (Unaudited)                                                                              |                       |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Cumulative |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | since inception of |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Development Stage |   |
|                                                                                     | For the Three Months Ended |   | For the Nine Months Ended |   |   | June 1, 2010 |   |
|                                                                                     | September 30,              |   | September 30, |   | September 30, |   | September 30, |   |   | through |   |
|                                                                                     |                       |   | 2010 |   |   |   | 2009 |   |   |   | 2010 |   |   |   |  2009 |   |   | September 30, 2010 |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                                                                 |                       |   | $ | - |   |   |   | $ | - |   |   |   | $ | - |   |   |   | $ | - |   |   | $ | - |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| EXPENSES                                                                                 |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Bank service charges                                       |                       |   |   | 53 |   |   |   |   | 3 |   |   |   |   | 58 |   |   |   |   | 9 |   |   |   | 53 |   |
|      Professional fees                                          |                       |   |   | 17,254 |   |   |   |   | 750 |   |   |   |   | 27,999 |   |   |   |   | 7,563 |   |   |   | 27,999 |   |
|      Managemet fees                                             |                       |   |   | 21,300 |   |   |   |   | - |   |   |   |   | 28,800 |   |   |   |   | - |   |   |   | 28,800 |   |
|      Travel fees                                                |                       |   |   | 3,314 |   |   |   |   | - |   |   |   |   | 3,314 |   |   |   |   | - |   |   |   | 3,314 |   |
|      Office and administration fees                             |                       |   |   | 533 |   |   |   |   | - |   |   |   |   | 1,095 |   |   |   |   | 13 |   |   |   | 1,077 |   |
|      Rent                                                       |                       |   |   | 1,300 |   |   |   |   | 225 |   |   |   |   | 2,475 |   |   |   |   | 675 |   |   |   | 2,250 |   |
|      Transfer fees                                              |                       |   |   | 845 |   |   |   |   | 225 |   |   |   |   | 1,614 |   |   |   |   | 1,162 |   |   |   | 1,314 |   |
|           Operating expenses           |                       |   |   | 44,599 |   |   |   |   | 1,203 |   |   |   |   | 65,355 |   |   |   |   | 9,422 |   |   |   | 64,807 |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                                                                     |                       |   |   | (44,599 | ) |   |   |   | (1,203 | ) |   |   |   | (65,355 | ) |   |   |   | (9,422 | ) |   |   | (64,807 | ) |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                                   |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Finance charges                                            |                       |   |   | - |   |   |   |   | - |   |   |   |   | - |   |   |   |   | (2 | ) |   |   | - |   |
|      Interest income                                            |                       |   |   | 269 |   |   |   |   | - |   |   |   |   | 269 |   |   |   |   | - |   |   |   | 269 |   |
|      Loan interest                                              |                       |   |   | - |   |   |   |   | (1,326 | ) |   |   |   | (1,345 | ) |   |   |   | (3,837 | ) |   |   | - |   |
|           Total other income (expense) |                       |   |   | 269 |   |   |   |   | (1,326 | ) |   |   |   | (1,076 | ) |   |   |   | (3,839 | ) |   |   | 269 |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS FROM CONTINUING OPERATIONS                                                      |                       |   |   | (44,330 | ) |   |   |   | (2,529 | ) |   |   |   | (66,431 | ) |   |   |   | (13,261 | ) |   |   | (64,538 | ) |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from operations of discontinued operations                                          |                       |   |   | - |   |   |   |   | (315 | ) |   |   |   | (5,527 | ) |   |   |   | (950 | ) |   |   | - |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss attributable to common stockholders                                             |                       |   | $ | (44,330 | ) |   |   | $ | (2,844 | ) |   |   | $ | (71,958 | ) |   |   | $ | (14,211 | ) |   | $ | (64,538 | ) |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted Earnings (Loss) Per Share                                              |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Continuing opertions                                             |                       |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   |   |   |
|     Discontinued operations                                          |                       |   | $ | - |   |   |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   |   |   |
|     Net loss                                                         |                       |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   | $ | (0.00 | ) |   |   |   |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of shares - basic and diluted                                    |                       |   |   | 60,560,000 |   |   |   |   | 145,560,000 |   |   |   |   | 103,527,033 |   |   |   |   | 145,560,000 |   |   |   |   |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                     |                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (The accompanying notes are an integral part of these financial statements)              |                       |

----

| LEGEND OIL AND GAS LTD.                                                     |   |
|-----------------------------------------------------------------------------|--------|
| (Formerly SIN Holdings, Inc.)                                               |   |
| (A Development Stage Company)                                               |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)                   |   |
| (Unaudited)                                                                 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Total |   |
|                                                                        |   | Common Stock |   |   | Preferred Stock |   |   | Additional |   |   | Accumulated |   |   | Stockholders' |   |
|                                                                        |   | Shares |   |   | Amount |   |   | Shares |   |   | Amount |   |   | paid-in capital |   |   | (deficit) |   |   | Equity |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31,  2008                                       |   |   | 145,560,000 |   |   | $ | 145,560 |   |   |   | 100,000 |   |   | $ | 100 |   |   | $ | (123,996 | ) |   | $ | (117,627 | ) |   | $ | (95,963 | ) |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholder contribution, rent                                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 900 |   |   |   | - |   |   |   | 900 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income, year ended December 31, 2009                                    |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (17,860 | ) |   |   | (17,860 | ) |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, December 31, 2009                                                  |   |   | 145,560,000 |   |   |   | 145,560 |   |   |   | 100,000 |   |   |   | 100 |   |   |   | (123,096 | ) |   |   | (135,487 | ) |   |   | (112,923 | ) |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholder contribution, rent                                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 225 |   |   |   | - |   |   |   | 225 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Wrtie-off of loans and interests from shareholder                           |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 120,043 |   |   |   | - |   |   |   | 120,043 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cancellation of stock by a shareholder                                      |   |   | (85,000,000 | ) |   |   | (85,000 | ) |   |   | (100,000 | ) |   |   | (100 | ) |   |   | 85,100 |   |   |   | - |   |   |   | - |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss, nine months ended September 30, 2010                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (71,958 | ) |   |   | (71,958 | ) |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance, September 30, 2010                                                 |   |   | 60,560,000 |   |   | $ | 60,560 |   |   |   | - |   |   | $ | - |   |   | $ | 82,272 |   |   | $ | (207,445 | ) |   | $ | (64,613 | ) |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (The accompanying notes are an integral part of these financial statements) |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

| LEGEND OIL AND GAS LTD.                                                                                                               |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|
| (Formerly SIN Holdings, Inc.)                                                                                                         |   |
| (A Development Stage Company)                                                                                                         |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                 |   |
| (Unaudited)                                                                                                                           |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   | Cumulative |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   | since inception of |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   | Development Stage |   |
|                                                                                                                                  |   |   |   For the nine-months ended |   |    June 1, 2010 |   |
|                                                                                                                                  |   |   |   September 30, |   |   |   | September 30, |   | through |   |
|                                                                                                                                  |   |   | 2010 |   |   |   | 2009 |   |  September 30, 2010 |   |
|  CASH FLOWS FROM OPERATING ACTIVITIES                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|       Net loss                                                                                          |   |   | $ | (71,958 | ) |   |   | $ | (14,211 | ) |   |   | $ | (64,538 | ) |
|       Net loss from discontinued operations                                                             |   |   |   | 5,527 |   |   |   |   | 950 |   |   |   |   | - |   |
|       Adjustments to reconcile net loss to net cash                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|            Rent                                                                |   |   |   | 225 |   |   |   |   | 675 |   |   |   |   | - |   |
|    Changes in operating assets and liabilities:                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|            (Increase) decrease in prepaid expenses                             |   |   |   | (13,419 | ) |   |   |   | - |   |   |   |   | (13,419 | ) |
|            Increase (decrease) in accounts payable                             |   |   |   | 8,806 |   |   |   |   | 750 |   |   |   |   | 10,356 |   |
|            Increase in deposits                                                |   |   |   | 250,000 |   |   |   |   | - |   |   |   |   | 250,000 |   |
|            Increase (decrease) in accrued interest on notes payable - offering |   |   |   | (1,518 | ) |   |   |   | 1,821 |   |   |   |   | - |   |
|            Increase (decrease) in accrued interest - shareholder notes         |   |   |   | 866 |   |   |   |   | - |   |   |   |   | - |   |
|       Net cash provided by (used in) continuing operations                                              |   |   |   | 178,529 |   |   |   |   | (10,015 | ) |   |   |   | 182,399 |   |
|       Net cash used in discontinued operations                                                          |   |   |   | (454 | ) |   |   |   | (950 | ) |   |   |   | - |   |
|       Net cash provided by (used in) operating activities                                               |   |   |   | 178,075 |   |   |   |   | (10,965 | ) |   |   |   | 182,399 |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  CASH FLOWS FROM FINANCING ACTIVITIES                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|       Repayment notes payable                                                                           |   |   |   | - |   |   |   |   | (376 | ) |   |   |   | - |   |
|       Loan from shareholder                                                                             |   |   |   | 3,835 |   |   |   |   | 11,000 |   |   |   |   | - |   |
|       Net cash flows from financing activities                                                          |   |   |   | 3,835 |   |   |   |   | 10,624 |   |   |   |   | - |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  NET DECREASE IN CASH AND CASH EQUIVALENTS                                                                                       |   |   |   | 181,910 |   |   |   |   | (341 | ) |   |   |   | 182,399 |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  CASH AND CASH EQUIVALENTS,                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|       BEGINNING OF PERIOD                                                                               |   |   |   | 489 |   |   |   |   | 859 |   |   |   |   | - |   |
|       END OF PERIOD                                                                                     |   |   | $ | 182,399 |   |   |   | $ | 518 |   |   |   |   | 182,399 |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|       Cash paid for interest                                                                            |   |   | $ | 2,000 |   |   |   | $ | 2,066 |   |   |   | $ | - |   |
|       Income Taxes                                                                                      |   |   | $ | - |   |   |   | $ | - |   |   |   | $ | - |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  SUPPLEMENTAL DISCOUSRE OF NON-CASH INVESTING AND                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|       FINANCING ACTIVITIES :                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|           Write-off shareholders loan and accrued interest                          |   |   |   | 100,925 |   |   |   |   | - |   |   |   | $ | - |   |
|           Write-off of notes payable and accrued interest                           |   |   |   | 19,293 |   |   |   |   | - |   |   |   | $ | - |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of the consolidated financial statements                                                  |   |

----

----

----

----

|                  |                             |   | September 30, 2010 |    |   | December 31, 2009 |   |
|-----------------------|----------------------------------|--------|--------------------|---------|--------|-------------------|--------|
| ASSETTS               |                             |   |               |    |   |              |
|                  | Goodwill                         |   | $                  | -       |   |              | $      | 5,071 |   |
| CURRENT LIABILITIES   |                             |   |               |    |   |              |   |   |
|                  | Accrued interest – current |   | $                  | -       |   |              | $      | 485 |   |
| LONG-TERM LIABILITIES |                             |   |               |    |   |              |   |   |
|                  | Notes payable                    |   | $             |  - |   |              | $      | 1,500 |   |

|                                                                           |   | Three month periods ended |   |   | Nine month periods ended |   |
|--------------------------------------------------------------------------------|--------|---------------------------|--------|--------|--------------------------|--------|
|                                                                           |   | September 30, 2010        |   |   | September 30, 2009       |   |   | September 30, 2010 |   |   | September 30, 2009 |   |
| REVENUES                                                                       |   | $                         | -      |   |                     |   |   |   | $ | - |   |   |   |   |
|                                                                           |   |                      |   |   |                     |   |   |   |   |   |   |   |   |   |
| EXPENSES                                                                       |   |                      |   |   |                     |   |   |   |   |   |   |   |   |   |
|      ISP                                              |   |                      | -      |   |                     |   | 300 |   |   |   | 300 |   |   |   | 900 |   |
|      Miscellaneous                                    |   |                      | -      |   |                     |   | - |   |   |   | 141 |   |   |   | - |   |
|      Impairment on disposal of subsidiary             |   |                      | -      |   |                     |   | - |   |   |   | 5,071 |   |   |   | - |   |
|           Operating expenses |   |                      | -      |   |                     |   | 300 |   |   |   | 5,512 |   |   |   | 900 |   |
| LOSS FROM OPERATIONS                                                           |   |                      | -      |   |                     |   | (300 | ) |   |   | (5,512 | ) |   |   | (900 | ) |
|                                                                           |   |                      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                         |   |                      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
|      Loan Interest                                    |   |                      | -      |   |                     |   | (15 | ) |   |   | (15 | ) |   |   | (50 | ) |
| TOTAL OTHER INCOME (EXPENSE)                                                   |   |                      | -      |   |                     |   | (15 | ) |   |   | (15 | ) |   |   | (50 | ) |
|                                                                           |   |                      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS BEFORE TAXES                                                          |   | $                         | -      |   |                     | $      | (315 | ) |   | $ | (5,527 | ) |   | $ | (950 | ) |

----

----

----

----

----

----

|                                                                                     | Three Months Ended |   |     |   |   |   |
|------------------------------------------------------------------------------------------|--------------------|--------|----------|--------|--------|--------|
|                                                                                     | September 30,      |   | Increase |   |
|                                                                                     |               |   | 2010     |   |   |   |   | 2009  |   | (Decrease) |   |
|                                                                                     |               |   |     |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                                                                 |               | $      | -        |   |   |   | $ | - |   |   | $ | - |   |
|                                                                                     |               |   |     |   |   |   |   |   |   |   |   |   |   |
| EXPENSES                                                                                 |               |   |     |   |   |   |   |   |   |   |   |   |   |
|      Bank service charges                                       |               |   | 53       |   |   |   |   | 3 |   |   |   | 50 |   |
|      Professional fees                                          |               |   | 17,254   |   |   |   |   | 750 |   |   |   | 16,504 |   |
|      Managemet fees                                             |               |   | 21,300   |   |   |   |   | - |   |   |   | 21,300 |   |
|      Travel fees                                                |               |   | 3,314    |   |   |   |   | - |   |   |   | 3,314 |   |
|      Office and administration fees                             |               |   | 533      |   |   |   |   | - |   |   |   | 533 |   |
|      Rent                                                       |               |   | 1,300    |   |   |   |   | 225 |   |   |   | 1,075 |   |
|      Transfer fees                                              |               |   | 845      |   |   |   |   | 225 |   |   |   | 620 |   |
|           Operating expenses           |               |   | 44,599   |   |   |   |   | 1,203 |   |   |   | 43,396 |   |
|                                                                                     |               |   |     |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                                                                     |               |   | (44,599  | )      |   |   |   | (1,203 | ) |   |   | (43,396 | ) |
|                                                                                     |               |   |     |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                                   |               |   |     |   |   |   |   |   |   |   |   |   |   |
|      Interest income                                            |               |   | 269      |   |   |   |   | - |   |   |   | 269 |   |
|      Loan interest                                              |               |   | -        |   |   |   |   | (1,326 | ) |   |   | 1,326 |   |
|           Total other income (expense) |               |   | 269      |   |   |   |   | (1,326 | ) |   |   | 1,595 |   |
|                                                                                     |               |   |     |   |   |   |   |   |   |   |   |   |   |
| NET LOSS FROM CONTINUING OPERATIONS                                                      |               | $      | (44,330  | )      |   |   | $ | (2,529 | ) |   | $ | (41,801 | ) |

----

|                                                                                     |   |   | Nine Months Ended   |    |           |   |   |
|------------------------------------------------------------------------------------------|--------|--------|---------------------|---------|----------------|--------|--------|
|                                                                                     |   |   |  September 30, |    |  Increase |   |
|                                                                                     |   |   | 2010                |    |           | 2009   |   | (Decrease) |   |
| REVENUES                                                                                 |   |   | $                   | -       |           |   | $      | - |   |   | $ | - |   |
|                                                                                     |   |   |                |    |           |   |   |   |   |   |   |   |   |
| EXPENSES                                                                                 |   |   |                |    |           |   |   |   |   |   |   |   |   |
|      Bank service charges                                       |   |   |                | 58      |           |   |   | 9 |   |   |   | 49 |   |
|      Professional fees                                          |   |   |                | 27,999  |           |   |   | 7,563 |   |   |   | 20,436 |   |
|      Managemet fees                                             |   |   |                | 28,800  |           |   |   | - |   |   |   | 28,800 |   |
|      Travel fees                                                |   |   |                | 3,314   |           |   |   | - |   |   |   | 3,314 |   |
|      Office and administration fees                             |   |   |                | 1,095   |           |   |   | 13 |   |   |   | 1,082 |   |
|      Rent                                                       |   |   |                | 2,475   |           |   |   | 675 |   |   |   | 1,800 |   |
|      Transfer fees                                              |   |   |                | 1,614   |           |   |   | 1,162 |   |   |   | 452 |   |
|           Operating expenses           |   |   |                | 65,355  |           |   |   | 9,422 |   |   |   | 55,933 |   |
|                                                                                     |   |   |                |    |           |   |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                                                                     |   |   |                | (65,355 | )              |   |   | (9,422 | ) |   |   | (55,933 | ) |
|                                                                                     |   |   |                |    |           |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                                   |   |   |                |    |           |   |   |   |   |   |   |   |   |
|      Finance charges                                            |   |   |                | -       |           |   |   | (2 | ) |   |   | 2 |   |
|      Interest income                                            |   |   |                | 269     |           |   |   | - |   |   |   | 269 |   |
|      Loan interest                                              |   |   |                | (1,345  | )              |   |   | (3,837 | ) |   |   | 2,492 |   |
|           Total other income (expense) |   |   |                | (1,076  | )              |   |   | (3,839 | ) |   |   | 2,763 |   |
|                                                                                     |   |   |                |    |           |   |   |   |   |   |   |   |   |
| NET LOSS FROM CONTINUING OPERATIONS                                                      |   |   | $                   | (66,431 | )              |   | $      | (13,261 | ) |   | $ | (53,170 | ) |
|                                                                                     |   |   |                |    |           |   |   |   |   |   |   |   |   |

----

----

|   | 3.1   | Articles of Incorporation (Exhibit 3.1).  Form 10-SB filing date April 25, 2002                                                                            |
|--------|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 3.2   | Amended By-laws (Exhibit 3.1).  Form 8-K filing date January 30, 2007.                                                                                     |
|   | 3.3   | Amended Articles of Incorporation.  Form 8-K filing date October 6, 2010                                                                                   |
|   | 10.1  | Exploration and Option to Enter joint Venture Agreement Redlich Project (Exhibit 10.2).  Form 8-K filing date of June 18, 2010.                       |
|   | 10.2  | Agreement for Purchase and Sale (Exhibit 10.3).  Form 8-K filing date of November 4, 2010.                                                                 |
|   | 31.1* | Certification by the President Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                                            |
|   | 31.2* | Certification by Chief Financial Officer and Secretary Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                                    |
|   | 32.1* | Certification by the President Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                             |
|   | 32.2* | Certification by the Chief Financial Officer and Secretary Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

----

| Dated: November 15, 2010 | LEGEND OIL AND GAS, LTD. |
|--------------------------|--------------------------|
|                     |                     |  /s/ Marshall Renny Diamond Goldberg |
|                     | By:                      |   |
|                     |                     | Marshall Renny Diamond Goldberg President and Director |

| Dated: November 15, 2010 | LEGEND OIL AND GAS, LTD. |
|--------------------------|--------------------------|
|                     |                     |  /s/ James Vandeberg |
|                     | By:                      |   |
|                     |                     | James Vandeberg Vice President, Chief Financial Officer, Secretary and Director |

----