----

----

| x      | QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934     |
|--------|------------------------------------------------------------------------------------------|
|   | FOR THE QUARTERLY PERIOD ENDED MAY 31, 2010                                              |
|   |                                                                                     |
| OR     |                                                                                     |
|   |                                                                                     |
| o      | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|  Non-accelerated Filer     o   |  Accelerated Filer       o |
|------------------------------------------------------------------------|--------------------------------------------------------------------|
|  Smaller Reporting Company x                                      |  Large Accelerated Filer  o                         |

----

|                                                                                                           | Page   |
|----------------------------------------------------------------------------------------------------------------|--------|
| PART I                                                                                                         |   |
| Item 1.  Financial Statements                                                                        | 1-20   |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations | 21     |
| Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                  | 27     |
| Item 4. Controls and Procedures                                                                                | 27     |
|                                                                                                           |   |
| PART II                                                                                                        |   |
| Item 1. Legal Proceedings                                                                                      | 27     |
| Item 1A. Risk Factors                                                                                          | 28     |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                            | 28     |
| Item 3. Defaults Upon Senior Securities                                                                        | 28     |
| Item 4. Removed and Reserved                                                                                   | 28     |
| Item 5. Other Information                                                                                      | 29     |
| Item 6. Exhibits                                                                                               | 29     |

----

| ITEM 1. | FINANCIAL STATEMENTS |
|---------|----------------------|

| GreenChek Technology Inc.                                        |   |        |       |   |         |   |
|------------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|
| (A Development Stage Company)                                    |   |        |       |   |         |   |
| Balance Sheets                                                   |   |        |       |   |         |   |
| (Expressed in US Dollars)                                        |   |        |       |   |         |   |
|                                                             |   |        |       |   |         |   |
|                                                             |   | May 31,     |       |   | February, 28 |   |
|                                                             |   | 2010        |       |   | 2010         |   |
|                                                             |   | (Unaudited) |       |   |         |   |
|                                                             |   |        |       |   |         |   |
|   ASSETS                                                    |   |        |       |   |         |   |
| Current Assets                                                   |   |        |       |   |         |   |
| Cash                                                             |   | $           | 2,438      |   |         | $      | 2,048 |   |
| Inventory (Note 3)                                               |   |        | 64,640     |   |         |   | 51,660 |   |
| Prepaid expenses and other current assets                        |   |        | 120,995    |   |         |   | 33,217 |   |
| Total current assets                                             |   |        | 188,073    |   |         |   | 86,925 |   |
| License agreement costs, net of accumulated                      |   |        |       |   |         |   |   |   |
| amortization and allowance for impairment (Note 4)               |   |        | -          |   |         |   | - |   |
| Equipment, net (Note 5)                                          |   |        | 2,717      |   |         |   | 2,938 |   |
| Total Assets                                                     |   | $           | 190,790    |   |         | $      | 89,863 |   |
|                                                             |   |        |       |   |         |   |   |   |
|                                                             |   |        |       |   |         |   |   |   |
|   LIABILITIES AND STOCKHOLDERS' DEFICIENCY                  |   |        |       |   |         |   |   |   |
| Current Liabilities                                              |   |        |       |   |         |   |   |   |
| Accounts payable and accrued liabilities                         |   | $           | 85,980     |   |         | $      | 53,796 |   |
| Notes and loans payable - current portion (Note 6)               |   |        | 54,000     |   |         |   | 79,423 |   |
| Deferred revenue                                                 |   |        | -          |   |         |   | 5,067 |   |
| Due to related parties (Note 7)                                  |   |        | 322,974    |   |         |   | 268,703 |   |
| Amount due to licensor of license agreement (Note 8)             |   |        | 2,500,000  |   |         |   | 2,500,000 |   |
| Total Current Liabilities                                        |   |        | 2,962,954  |   |         |   | 2,906,989 |   |
| Notes and loans payable - non-current portion (Note 6)           |   |        | 208,497    |   |         |   | 160,692 |   |
| Total liabilities                                                |   |        | 3,171,451  |   |         |   | 3,067,681 |   |
|                                                             |   |        |       |   |         |   |   |   |
|                                                             |   |        |       |   |         |   |   |   |
| Stockholders' Deficiency                                         |   |        |       |   |         |   |   |   |
| Preferred Stock, $0.00001 par value;                             |   |        |       |   |         |   |   |   |
| authorized 100,000,000 shares, none issued and outstanding       |   |        | -          |   |         |   | - |   |
| Common Stock, $0.00001 par value; authorized 100,000,000 shares, |   |        |       |   |         |   |   |   |
| issued 64,381,333 and 88,631,333 shares, respectively            |   |        | 644        |   |         |   | 886 |   |
| Additional paid-in capital                                       |   |        | 1,605,120  |   |         |   | 1,492,378 |   |
| Treasury Stock, 35,000,000 shares held at February 28, 2010      |   |        | -          |   |         |   | (100,000 | ) |
| Deficit accumulated during the development stage                 |   |        | (4,586,425 | )      |         |   | (4,371,082 | ) |
| Total Stockholders' Deficiency                                   |   |        | (2,980,661 | )      |         |   | (2,977,818 | ) |
| Total Liabilities and Stockholders' Deficiency                   |   | $           | 190,790    |   |         | $      | 89,863 |   |
|                                                             |   |        |       |   |         |   |   |   |
| See notes to financial statements.                               |   |        |

----

| GreenChek Technology Inc.                                                              |   |                                          |       |   |                                          |   |       |                                                               |   |
|----------------------------------------------------------------------------------------|--------|-----------------------------------------------|------------|--------|-----------------------------------------------|--------|------------|--------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                          |   |                                          |       |   |                                          |   |       |                                                               |   |
| Statements of Operations                                                               |   |                                          |       |   |                                          |   |       |                                                               |   |
| (Expressed in US Dollars)                                                              |   |                                          |       |   |                                          |   |       |                                                               |   |
| (Unaudited)                                                                            |   |                                          |       |   |                                          |   |       |                                                               |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |
|                                                                                   |   | For the three month period ended May 31, 2010 |       |   | For the three month period ended May 31, 2009 |   |       | Period from September 12, 2006 (Date of Inception) To May 31, 2010 |   |
|                                                                                   |   |                                          |       |   | (As reclassified)                             |   |       | (As reclassified)                                                  |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |
| Sales                                                                                  |   | $                                             | 5,067      |   |                                          | $      | -          |                                                               |   | $ | 5,067 |   |
| Cost of sales                                                                          |   |                                          | 7,000      |   |                                          |   | -          |                                                               |   |   | 7,000 |   |
| Gross profit (loss)                                                                    |   |                                          | (1,933     | )      |                                          |   | -          |                                                               |   |   | (1,933 | ) |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Costs and expenses                                                                     |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| General and administrative expenses                                                    |   |                                          | 63,957     |   |                                          |   | 41,187     |                                                               |   |   | 336,835 |   |
| Consulting fees and services                                                           |   |                                          | 99,731     |   |                                          |   | 15,000     |                                                               |   |   | 319,647 |   |
| Research and development                                                               |   |                                          | 2,150      |   |                                          |   | 21,984     |                                                               |   |   | 160,979 |   |
| Amortization of license agreement costs                                                |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | 20,394 |   |
| Provision for impairment of license agreement costs                                    |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | 3,081,184 |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Total costs and expenses                                                               |   |                                          | 165,838    |   |                                          |   | 78,171     |                                                               |   |   | 3,919,039 |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Loss From Operations                                                                   |   |                                          | (167,771   | )      |                                          |   | (78,171    | )                                                                  |   |   | (3,920,972 | ) |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Other Income (Expense)                                                                 |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Imputed interest expense on amount due licensor of license agreement                   |   |                                          | -          |   |                                          |   | (59,950    | )                                                                  |   |   | (398,422 | ) |
| Interest expense on notes and loans payable                                            |   |                                          | (47,572    | )      |                                          |   | -          |                                                               |   |   | (170,046 | ) |
| Interest expense in connection with amendment to License Agreement (Note 4)            |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | (800,000 | ) |
| Debt financing fees                                                                    |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | (180,000 | ) |
| Reduction in amount due licensor of license agreement pursuant to amendment 2 (Note 4) |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | 950,000 |   |
| Loss on  change in fair value of derivative liability (Note 4)               |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | (10,693 | ) |
| Total other expenses                                                                   |   |                                          | (47,572    | )      |                                          |   | (59,950    | )                                                                  |   |   | (609,161 | ) |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Net Loss From Continuing Operations                                                    |   |                                          | (215,343   | )      |                                          |   | (138,121   | )                                                                  |   |   | (4,530,133 | ) |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Discontinued operations (Note11)                                                       |   |                                          | -          |   |                                          |   | -          |                                                               |   |   | (56,292 | ) |
| Net Loss                                                                               |   | $                                             | (215,343   | )      |                                          | $      | (138,121   | )                                                                  |   | $ | (4,586,425 | ) |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Net loss per share - basic and diluted                                                 |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Continuing Operations                                                                  |   | $                                             | (0.00      | )      |                                          | $      | (0.00      | )                                                                  |   |   |   |   |
| Discontinued Operations                                                                |   |                                          | -          |   |                                          |   | -          |                                                               |   |   |   |   |
| Total                                                                                  |   | $                                             | (0.00      | )      |                                          | $      | (0.00      | )                                                                  |   |   |   |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Weighted Average Shares Outstanding                                                    |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| Basic and Diluted                                                                      |   |                                          | 61,448,000 |   |                                          |   | 64,295,000 |                                                               |   |   |   |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
|                                                                                   |   |                                          |       |   |                                          |   |       |                                                               |   |   |   |   |
| See notes to financial statements.                                                     |   |                                          |

----

| GreenChek Technology Inc.                                                           |   |
|-------------------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                       |   |
| Statements of Stockholders' Equity (Deficiency)                                     |
| For the Period September 12, 2006 (Inception) to May 31, 2010                       |
| (Expressed in US Dollars)                                                           |
| (Unaudited)                                                                         |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Deficit |   |   | Total Stockholders' Equity |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Accumulated |   |
|                                                                                |   | Common Stock, $0.00001 par value |   |   | Additional |   |   |   |   |   |   |   |   | During the |   |
|                                                                                |   | Paid-in |   |   | Treasury Stock |   |   | Development |   |
|                                                                                |   | Shares |   |   | Amount |   |   | Capital |   |   | Shares |   |   | Amount |   |   | Stage |   |   | (Deficiency) |   |
|                                                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common shares sold for cash at $0.00014 per share                                   |   |   | 35,000,000 |   |   | $ | 350 |   |   | $ | 4,650 |   |   |   | - |   |   | $ | - |   |   | $ | - |   |   | $ | 5,000 |   |
| Common shares sold for cash at $0.00143 per share,                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| less offering costs of $12,500                                                      |   |   | 27,090,000 |   |   |   | 271 |   |   |   | 25,929 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 26,200 |   |
| Donated services and expenses                                                       |   |   | - |   |   |   | - |   |   |   | 4,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,500 |   |
| Net Loss                                                                            |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (11,777 | ) |   |   | (11,777 | ) |
| Balance - February 28, 2007                                                         |   |   | 62,090,000 |   |   |   | 621 |   |   |   | 35,079 |   |   |   | - |   |   |   | - |   |   |   | (11,777 | ) |   |   | 23,923 |   |
| Common stock sold for cash at 0.00143 per share                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| less offering costs of $10,000                                                      |   |   | 1,890,000 |   |   |   | 19 |   |   |   | (7,319 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (7,300 | ) |
| Donated services and expenses                                                       |   |   | - |   |   |   | - |   |   |   | 9,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 9,000 |   |
| Net Loss                                                                            |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (37,608 | ) |   |   | (37,608 | ) |
| Balance - February 29, 2008                                                         |   |   | 63,980,000 |   |   |   | 640 |   |   |   | 36,760 |   |   |   | - |   |   |   | - |   |   |   | (49,385 | ) |   |   | (11,985 | ) |
| Units sold for cash at $0.75 per Unit                                               |   |   | 308,000 |   |   |   | 3 |   |   |   | 230,997 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 231,000 |   |
| Finders' fee                                                                        |   |   | - |   |   |   | - |   |   |   | (23,100 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (23,100 | ) |
| Donated services and expenses                                                       |   |   | - |   |   |   | - |   |   |   | 7,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 7,500 |   |
| Purchase of treasury stock                                                          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (35,000,000 | ) |   |   | (100,000 | ) |   |   | - |   |   |   | (100,000 | ) |
| Net Loss                                                                            |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,627,489 | ) |   |   | (3,627,489 | ) |
| Balance - February 28, 2009                                                         |   |   | 64,288,000 |   |   |   | 643 |   |   |   | 252,157 |   |   |   | (35,000,000 | ) |   |   | (100,000 | ) |   |   | (3,676,874 | ) |   |   | (3,524,074 | ) |
| Units sold for cash at $0.75 per Unit                                               |   |   | 26,667 |   |   |   | - |   |   |   | 20,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 20,000 |   |
| Finders' fee                                                                        |   |   | - |   |   |   | - |   |   |   | (2,950 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,950 | ) |
| Debt financing fees                                                                 |   |   | 6,000,000 |   |   |   | 60 |   |   |   | 179,940 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 180,000 |   |
| Stock-based compensation                                                            |   |   | 8,316,666 |   |   |   | 83 |   |   |   | 221,217 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 221,300 |   |
| Fair value of warrants authorized in connection with $50,000 loan payable           |   |   | - |   |   |   | - |   |   |   | 8,431 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 8,431 |   |
| Conversion of $300,000 due to Chief Executive Officer of Company at $0.03 per share |   |   | 10,000,000 |   |   |   | 100 |   |   |   | 399,900 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 400,000 |   |
| Conversion feature of $550,000, 5% convertible note payable                         |   |   | - |   |   |   | - |   |   |   | 413,683 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 413,683 |   |
| Net Loss                                                                            |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (694,208 | ) |   |   | (694,208 | ) |
| Balance - February 28, 2010                                                         |   |   | 88,631,333 |   |   |   | 886 |   |   |   | 1,492,378 |   |   |   | (35,000,000 | ) |   |   | (100,000 | ) |   |   | (4,371,082 | ) |   |   | (2,977,818 | ) |
| Stock based compensation                                                            |   |   | 9,125,000 |   |   |   | 92 |   |   |   | 179,908 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 180,000 |   |
| Settlement of loan via issuance of common stock                                     |   |   | 1,625,000 |   |   |   | 16 |   |   |   | 32,484 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 32,500 |   |
| Cancellation of treasury shares                                                     |   |   | (35,000,000 | ) |   |   | (350 | ) |   |   | (99,650 | ) |   |   | 35,000,000 |   |   |   | 100,000 |   |   |   | - |   |   |   | - |   |
| Net Loss                                                                            |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (215,343 | ) |   |   | (215,343 | ) |
| Balance - May 31, 2010                                                              |   |   | 64,381,333 |   |   | $ | 644 |   |   | $ | 1,605,120 |   |   |   | - |   |   | $ | - |   |   | $ | (4,586,425 | ) |   | $ | (2,980,661 | ) |

----

| GreenChek Technology Inc.                                                                                                          |   |                                          |     |   |                                          |   |     |                                                               |   |
|------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|----------|--------|-----------------------------------------------|--------|----------|--------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                                                                      |   |                                          |     |   |                                          |   |     |                                                               |   |
| Statements of Cash Flows                                                                                                           |   |                                          |     |   |                                          |   |     |                                                               |   |
| (Expressed in US Dollars)                                                                                                          |   |                                          |     |   |                                          |   |     |                                                               |   |
| (Unaudited)                                                                                                                        |   |                                          |     |   |                                          |   |     |                                                               |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |
|                                                                                                                               |   | For the three month period ended May 31, 2010 |     |   | For the three month period ended May 31, 2009 |   |     | Period from September 12, 2006 (Date of Inception) To May 31, 2010 |   |
|                                                                                                                               |
|                                                                                                                               |
| Cash Flows from Operating Activities                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |
| Net loss                                                                                                                           |   | $                                             | (215,343 | )      |                                          | $      | (138,121 | )                                                                  |   | $ | (4,586,425 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities:                                                        |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Amortization of license agreement costs                                                                                            |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 20,394 |   |
| Depreciation of equipment                                                                                                          |   |                                          | 221      |   |                                          |   | 216      |                                                               |   |   | 1,210 |   |
| Provision for impairment of license agreement costs                                                                                |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 3,081,184 |   |
| Imputed interest expense accreted on amount due to licensor of license agreement                                                   |   |                                          | -        |   |                                          |   | 59,950   |                                                               |   |   | 398,422 |   |
| Interest accreted from unamortized debt discounts                                                                                  |   |                                          | 50,882   |   |                                          |   | -        |                                                               |   |   | 169,918 |   |
| Donated services and expenses                                                                                                      |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 21,000 |   |
| Impairment of mineral property costs                                                                                               |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 3,300 |   |
| Interest expense added to amount due licensor in connection with amendment to license agreement                                    |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 800,000 |   |
| Stock based compensation - consulting fees and services                                                                            |   |                                          | 92,833   |   |                                          |   | -        |                                                               |   |   | 291,883 |   |
| Settlement of loan via issuance of Company common stock                                                                            |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 180,000 |   |
| Loss on re-valuation of derivative liability                                                                                       |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | 10,693 |   |
| Reduction in amount due licensor of license agreement pursuant to amendment 2                                                      |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | (950,000 | ) |
| Changes in operating assets and liabilities:                                                                                       |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Inventory                                                                                                                          |   |                                          | (12,980  | )      |                                          |   | (17,500  | )                                                                  |   |   | (64,640 | ) |
| Prepaid expenses and other current assets                                                                                          |   |                                          | (611     | )      |                                          |   | (896     | )                                                                  |   |   | (11,578 | ) |
| Accounts payable and accrued liabilities                                                                                           |   |                                          | 32,184   |   |                                          |   | 40,855   |                                                               |   |   | 85,980 |   |
| Deferred revenue                                                                                                                   |   |                                          | (5,067   | )      |                                          |   | -        |                                                               |   |   | - |   |
| Net cash used in operating activities                                                                                              |   |                                          | (57,881  | )      |                                          |   | (55,496  | )                                                                  |   |   | (548,659 | ) |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Cash Flows from Investing Activities                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Mineral property acquisition costs                                                                                                 |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | (3,300 | ) |
| Purchase of equipment                                                                                                              |   |                                          | -        |   |                                          |   | (3,927   | )                                                                  |   |   | (3,927 | ) |
| Net cash used in investing activities                                                                                              |   |                                          | -        |   |                                          |   | (3,927   | )                                                                  |   |   | (7,227 | ) |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Cash Flows from Financing Activities                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Proceeds from sales of common stock                                                                                                |   |                                          | -        |   |                                          |   | 17,050   |                                                               |   |   | 297,400 |   |
| Purchase of treasuary stock                                                                                                        |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | (100,000 | ) |
| Offering costs incurred                                                                                                            |   |                                          | -        |   |                                          |   | -        |                                                               |   |   | (48,550 | ) |
| Proceeds from notes and loans payable                                                                                              |   |                                          | 4,000    |   |                                          |   | -        |                                                               |   |   | 86,500 |   |
| Due to related parties                                                                                                             |   |                                          | 54,271   |   |                                          |   | 48,192   |                                                               |   |   | 322,974 |   |
| Net cash provided by financing activities                                                                                          |   |                                          | 58,271   |   |                                          |   | 65,242   |                                                               |   |   | 558,324 |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Increase  (decrease)  in cash                                                                                  |   |                                          | 390      |   |                                          |   | 5,819    |                                                               |   |   | 2,438 |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Cash - beginning of period                                                                                                         |   |                                          | 2,048    |   |                                          |   | 391      |                                                               |   |   | - |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Cash - end of period                                                                                                               |   | $                                             | 2,438    |   |                                          | $      | 6,210    |                                                               |   | $ | 2,438 |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Supplemental disclosures of cash flow information:                                                                                 |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Interest paid                                                                                                                      |   | $                                             | -        |   |                                          | $      | -        |                                                               |   | $ | - |   |
| Income taxes paid                                                                                                                  |   | $                                             | -        |   |                                          | $      | -        |                                                               |   | $ | - |   |
|                                                                                                                               |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Non-cash investing activity:                                                                                                       |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Acquisition of license agreement in exchange for debt due seller, less imputed interest                                            |   | $                                             | -        |   |                                          | $      | -        |                                                               |   | $ | 3,101,578 |   |
| Non-cash financing activity:                                                                                                       |   |                                          |     |   |                                          |   |     |                                                               |   |   |   |   |
| Payment by third party to licensor of license agreement in exchange for 5% convertible note payable                                |   | $                                             | -        |   |                                          | $      | -        |                                                               |   | $ | 550,000 |   |
| Conversion of $300,000 amount due to Chief Executive Officer of Company into 10,000,000 shares of common stock                     |   | $                                             | -        |   |                                          | $      | -        |                                                               |   | $ | 300,000 |   |
| Repayment of amount due licensor of license agreement in exchange for increase in amount due to Chief Executive Officer of Company |   | $                                             | -        |   |                                          | $      | -        |                                                               |   | $ | 300,000 |   |
| Issuance of common stock to settle loan payable                                                                                    |   | $                                             | 32,500   |   |                                          | $      | -        |                                                               |   | $ | 32,500 |   |

----

----

|                                                                     |   |   | May 31, 2010  |   |   |   | February 28, 2010 |   |
|--------------------------------------------------------------------------|--------|--------|--------------------|--------|--------|--------|------------------------|--------|
|                                                                     |   |   |               |   |   |   |                   |   |
| Raw materials and work in progress held at manufacturer’s premises |   | $      | 40,140             |   |   | $      | 20,160                 |   |
| Finished goods                                                           |   |   | 24,500             |   |   |   | 31,500                 |   |
| Total                                                                    |   | $      | 64,640             |   |   | $      | 51,660                 |   |

| License price, less $398,422 discount for imputed interest |   | $      | 3,101,578  |   |
|------------------------------------------------------------|--------|--------|------------|--------|
| Less accumulated amortization                              |   |   | (20,394    | )      |
| Less allowance for impairment                              |   |   | (3,081,184 | )      |
|     License agreement costs, net       |   | $      | -          |   |

| 1.   | Payment of $1,000,000 due on December 31, 2008 extended to December 31, 2009, |
|----------------|-------------------------------------------------------------------------------|

| 2.   | Payment of $1,000,000 due on March 31, 2009 extended to March 31, 2010, |
|----------------|-------------------------------------------------------------------------|

| 3.   | Payment of $1,200,000 due on August 31, 2009 extended to August 31, 2010. |
|----------------|---------------------------------------------------------------------------|

| 1.   | $500,000 payable on August 9, 2009,; and |
|----------------|------------------------------------------|

| 2.   | $300,000 payable on August 31, 2010. |
|----------------|--------------------------------------|

----

|                          |   |   | May 31, 2010  |   |   |   | February 28, 2010 |   |
|-------------------------------|--------|--------|--------------------|--------|--------|--------|-------------------|--------|
|                          |   |   |               |   |   |   |              |   |
| Equipment                     |   | $      | 3,927              |   |   | $      | 3,927             |   |
| Less accumulated depreciation |   |   | (1,210             | )      |   |   | (989              | )      |
| Total                         |   | $      | 2,717              |   |   | $      | 2,938             |   |

----

|                                                                                                                                                                                                                                                                                                          |   |   | May 31, 2010  |   |   |   | February 28, 2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------------|--------|--------|--------|-------------------|--------|
|                                                                                                                                                                                                                                                                                                          |   |   |               |   |   |   |              |   |
| Unsecured convertible note payable to Gold Spread Trading Limited (“Gold Spread”), and two other corporations (See Notes 9(e) and 12(d)) with face value of $550,000, interest at 5% payable quarterly, due June 30, 2011 (less unamortized debt discount of $341,503 and $389,308, respectively) |   | $      | 208,497            |   |   | $      | 160,692           |   |
|                                                                                                                                                                                                                                                                                                          |   |   |               |   |   |   |              |   |
| Loan payable to Gold Spread with face value of $50,000, interest at 0%, due April 30, 2010 (less unamortized debt discount of $0 and $3,077, respectively)                                                                                                                                                    |   |   | 50,000             |   |   |   | 46,923            |   |
|                                                                                                                                                                                                                                                                                                          |   |   |               |   |   |   |              |   |
| Loan payable to Gold Spread with face value of $32,500, interest at 0%, to be repaid by the issuance of 1,625,000 shares of Company common stock (which occurred March 15, 2010)                                                                                                                              |   |   | -                  |   |   |   | 32,500            |   |
|                                                                                                                                                                                                                                                                                                          |   |   |               |   |   |   |              |   |
| Loan payable to Gold Spread, interest at 0%, due on demand                                                                                                                                                                                                                                                    |   |   | 4,000         |   |   |   | -                 |   |
|                                                                                                                                                                                                                                                                                                          |   |   |               |   |   |   |              |   |
| Total                                                                                                                                                                                                                                                                                                         |   |   | 262,497            |   |   |   | 240,115           |   |
| Current portion                                                                                                                                                                                                                                                                                               |   |   | (54,000            | )      |   |   | (79,423           | )      |
|                                                                                                                                                                                                                                                                                                          |   |   |               |   |   |   |              |   |
| Non-current portion                                                                                                                                                                                                                                                                                           |   | $      | 208,497            |   |   | $      | 160,692           |   |

----

|                                                                                                                                                         |   | May 31,2010 |    |   | February 28, 2010 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|---------|--------|-------------------|--------|
| Due to chief executive officer:                                                                                                                              |   |        |    |   |              |   |
|     Accrued management fees                                                                                                              |   | $           | 76,060  |   |              | $      | 61,801 |   |
|     Other, non-interest bearing, no repayment terms                                                                                      |   |        | 103,723 |   |              |   | 103,802 |   |
| Due to former majority stockholder and chief executive officer:                                                                                              |   |        |    |   |              |   |   |   |
| Amount due relating to the Company's purchase of treasury   stock which was formalized into a promissory note on May 14, 2010 (see Note 9(b)) |   |        | 25,000  |   |              |   | 25,000 |   |
|     Other, non-interest bearing, no repayment terms                                                                                      |   |        | 16,797  |   |              |   | 16,675 |   |
| Due to former director and chief strategy officer for consulting             services       |   |        | 4,792   |   |              |   | 4,800 |   |
| Due to former director and chief financial officer, non-interest bearing, no repayment terms                                                                 |   |        | 96,602  |   |              |   | 56,625 |   |
| Total                                                                                                                                                        |   | $           | 322,974 |   |              | $      | 268,703 |   |

----

|                                       |   | May 31, 2010 |      |   | February 28, 2010 |   |
|--------------------------------------------|--------|--------------|-----------|--------|-------------------|--------|
| Amount due March 31, 2010                  |   | $            | 1,000,000 |   |              | $      | 1,000,000 |   |
| Amount due August 31, 2010                 |   |         | 1,200,000 |   |              |   | 1,200,000 |   |
| Amount due under Amendment to License      |   |         |      |   |              |   |   |   |
|   Agreement dated July 10, 2009: |   |         |      |   |              |   |   |   |
|   Amount due August 31, 2010     |   |         | 300,000   |   |              |   | 300,000 |   |
| Net                                        |   | $            | 2,500,000 |   |              | $      | 2,500,000 |   |

----

| a)   | On May 28, 2007, the Company effected a 7 to 1 forward stock split of the issued and outstanding common stock. As a result, the issued and outstanding shares at that time increased from 9,140,000 shares of common stock to 63,980,000 shares of common stock. All share amounts have been retroactively adjusted for all periods presented. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | On October 21, 2008, the Company entered into a Return to Treasury Agreement with Pardeep Sarai, former majority stockholder and chief executive officer of the Company (“Sarai”), whereby the Company agreed to purchase 35,000,000 shares of the Company's common stock owned by Sarai for $100,000. Pursuant to this agreement, the Company paid $75,000 to Sarai on October 21, 2008. The agreement provided that the 35,000,000 shares were to be returned to Sarai if the Company failed to pay the remaining $25,000 to Sarai by March 1, 2009 (which date was extended to June 30, 2009 under an Amendment to Agreement dated May 19, 2009 between the Company and Sarai and further extended under a verbal agreement) or if certain transactions contemplated by the License Agreement did not occur. On May 14, 2010, pursuant to another Amendment to Agreement dated October 21, 2008, the Company issued a $25,000 promissory note (interest at 11% and due May 13, 2011) to Sarai who surrendered 35,000,000 shares to the Company upon the issuance of the May 14, 2010 promissory note and the Company cancelled the 35,000,000 treasury shares.  See Note 7. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c)   | In October and December 2008, pursuant to a Subscription Agreement dated September 17, 2008, the Company sold a total of 308,000 units to Noyz Management Corp. at $0.75 per unit for gross proceeds of $231,000. After deducting $23,100 in finder’s fees, the net proceeds to the Company were $207,900. On May 8, 2009, pursuant to the Subscription Agreement dated September 17, 2008, the Company sold 26,667 Units to Noyz Management Corp. at $0.75 per unit for gross proceeds of $20,000. After deducting $2,950 in finder’s fees, the net proceeds to the Company were $17,050. Each Unit consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of 0.75 per share to September 17, 2009. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d)   | On July 30, 2009, the Company issued 1,866,666 restricted shares of common stock with a fair value of $68,500 to DC Consulting LLC (DC Consulting) pursuant to the consulting agreements described in Notes 12 (b) and (c). |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| e)   | On August 19, 2009, the Company issued 3,000,000 restricted shares of common stock with a fair value of $90,000 to Gold Spread Trading Ltd. pursuant to the loan initiation agreement described in Note 12 (d). |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| f)   | On August 27, 2009, the Company issued 3,000,000 restricted shares of common stock with a fair value of $90,000 to Bodie Investment Group Inc. pursuant to the common stock purchase agreement described in Note 12 (e). |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| g)   | On September 1, 2009, the Company issued 2,000,000 restricted shares of common stock with a fair value of $60,000 to Global Eye Professional Advisors Ltd. pursuant to the consulting agreement described in Note 12 (f). |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| h)   | On February 2, 1010, the Company issued 1,000,000 restricted shares of common stock with a fair value of $10,000 to a former director of the Company as remuneration for services performed.  During the year ended February 28, 2010, $10,000 has been charges as “Management fees” within “General and administrative expenses” related to the shares issued pursuant to this paragraph. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| i)   | On February 8, 2010, the Company issued 200,000 restricted shares of common stock with a fair value of $3,000 to a Consultant pursuant to the consulting agreement described in Note 12 (i). |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| j)   | On February 10, 2010, the Company issued 1,250,000 restricted shares of common stock with a fair value of $25,000 to DC Consulting pursuant to the consulting agreement described in Note 12(c). |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| k)   | Effective February 23, 2010, the Company issued 10,000,000 restricted shares of common stock with a fair value of $300,000 upon conversion of the loan described in Note 7. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| l)   | On February 24, 2010, the Company issued 2,000,000 restricted shares of common stock with a fair value of $20,000 pursuant to the consulting agreements described in Note 12(h). |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| m)   | On March 1, 2010, the Company issued 3,500,000 restricted shares of common stock with a fair value of $70,000 pursuant to the consulting agreement described in Note 12(j). |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| n)   | On March 15, 2010, 1,625,000 restricted shares were issued as payment in full of the $32,500 loan from Gold Spread, according to the terms of the loan agreement signed on January 1, 2010. Refer to Note 6. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o)   | On March 15, 2010, the Company issued 2,000,000 restricted shares of common stock to a technician with a fair value of $40,000 pursuant to a technical consulting agreement. Refer to Note 12(l). |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| p)   | On March 31, 2010, the Company issued 3,000,000 restricted shares of common stock with a fair value of $45,000 pursuant to the consulting agreement described in Note 12(k). |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| q)   | On May 3, 2010, the Company issued 625,000 restricted shares of common stock with a fair value of $25,000 to DC Consulting pursuant to the consulting agreement described in Note 12(c). |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                              |   |                             |    |   |                             |   |    | Period from                                    |   |
|-------------------------------------------------------------------|--------|----------------------------------|---------|--------|----------------------------------|--------|---------|------------------------------------------------|--------|
|                                                              |   | For the three month period Ended |    |   | For the three month period Ended |   |    | September 12, 2006 (Date of Inception) to |   |
|                                                              |   | May 31,                          |    |   | May 31,                          |   |    | May 31,                                        |   |
|                                                              |   | 2010                             |    |   | 2009                             |   |    | 2010                                           |   |
| Revenues                                                          |   | $                                | – |   |                             | $      | – |                                           |   | $ | – |   |
|  Cost and expenses                                           |   |                             |    |   |                             |   |    |                                           |   |   |   |   |
|    General and administrative expenses             |   |                             | – |   |                             |   | – |                                           |   |   | 51,925 |   |
|    Impairment of mineral property costs            |   |                             | – |   |                             |   | – |                                           |   |   | 3,300 |   |
|    Mineral property exploration and carrying costs |   |                             | – |   |                             |   | – |                                           |   |   | 1,067 |   |
|  Total costs and expenses                                    |   |                             | – |   |                             |   | – |                                           |   |   | 56,292 |   |
|  Net Loss                                                    |   | $                                | – |   |                             | $      | – |                                           |   | $ | (56,292 | ) |
|                                                              |   |                             |    |   |                             |   |    |                                           |   |   |   |   |

----

| a)   | On August 1, 2008, the Company entered into a Management Contract with Lincoln Parke (“Parke”), the Company’s chief executive officer. Under the agreement, Parke is to perform certain services for the Company and the Company is to pay monthly management fees of Cdn $5,000 (approximately $4,792 translated at the May 31, 2010 exchange rate) to Parke. Either party can terminate the agreement with 30 days written notice.  During the three month periods ended May 31, 2010 and 2009, "Management fees" included within "General and administrative expenses" totaled $14,375 and $13,740, respectively. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | On July 22, 2009, the Company entered into an agreement with DC Consulting LLC (DC Consulting) for consulting services for a period of one year in consideration for the issue of 500,000 restricted shares of the Company’s common stock. The Company issued 500,000 restricted shares of common stock with a fair value of $15,000 on July 30, 2009 and at May 31, 2010, $1,250 was included in prepaid expenses. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c)   | On July 22, 2009, the Company entered into an agreement with DC Consulting for investor relation services for an initial period of 90 days (following the initial 90 days, each party has the right to cancel the contract with 30 days written notice) in consideration for the following: |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| i)   | A monthly retainer fee of $9,500 in cash or quarterly retainer fee of $25,000 payable in cash or stock with the first payment due upon the execution of the contract. For the quarterly period ended October 31, 2009, the Company issued 416,666 restricted shares of common stock with a fair value of $25,000 on July 30, 2009. For the quarterly period ended January 31, 2009, the Company issued 1,250,000 restricted shares of common stock with a fair value of $25,000 on February 10, 2010. For the quarterly period ended April 30, 2010, the Company issued 625,000 restricted shares of common stock with a fair value of $25,000 on May 3, 2010. During the period ended May 31, 2010, $25,000 has been charged as "Consulting fees and services" related to the shares issued pursuant to this paragraph. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ii)   | 950,000 restricted shares of the Company’s common stock due within 30 days of the execution of the contract. The Company issued 950,000 restricted shares of common stock with a fair value of $28,500 on July 30, 2009. During the year ended February 28, 2010, $28,500 has been charged as "Consulting fees and services" related to the warrants to be issued pursuant to this paragraph. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| iii)   | Warrants to purchase 750,000 shares of the Company’s common stock at an exercise price of $0.40 per share. The warrants have not been delivered to DC Consulting as at May 31, 2010. During the year ended February 28, 2010, $20,700 has been charged as "Consulting fees and services" related to the warrants to be issued pursuant to this paragraph, since the Company is committed per the agreement to issue the warrants (estimated using the Black-Scholes option pricing model and the following assumptions: stock price of $0.06 per share, exercise price of $0.40 per share, term of 5 years, expected volatility of 100%, and risk free interest rate of 2.43%). |
|------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| iv)   | Warrants to purchase 750,000 shares of the Company’s common stock at an exercise price of $1.00 per share. The warrants have not been delivered to DC Consulting as at May 31, 2010. During the year ended February 28, 2010, $14,100 has been charged as "Consulting fees and services" related to the warrants to be issued pursuant to this paragraph, since the Company is committed per the agreement to issue the warrants (estimated using the Black-Scholes option pricing model and the following assumptions: stock price of $0.06 per share, exercise price of $1.00 per share, term of 5 years, expected volatility of 100%, and risk free interest rate of 2.43%). |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| v)   | An advisory fee of 7% of the gross proceeds of any financing transaction arranged by DC Consulting. |
|----------------|-----------------------------------------------------------------------------------------------------|

| d)   | On August 19, 2009, the Company entered into a Loan Initiation Agreement with Gold Spread Trading Ltd. (“Gold Spread”).  Pursuant to the agreement, the Company may borrow up to $100,000 from Gold Spread until November 27, 2010.  As a one-time loan initiation fee, the Company issued 3,000,000 restricted shares of the Company’s common stock with a fair value of $90,000 to Gold Spread and recorded financing fees of $90,000 in the Statement of Operations for the year ended February 28, 2010 upon execution of the contract.  Refer to Note 9 (e). |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| e)   | On August 27, 2009, the Company entered into a Common Stock Purchase Agreement, a Registration Rights Agreement, a Warrant Purchase Agreement, a Subscription Agreement and a Convertible Note Agreement (collectively the “Agreements”) with Bodie Investment Group Inc. (“Bodie”). Pursuant to the agreement, subject to volume limitations, the Company has the right to sell Bodie over a two year period up to $6,000,000 of the Company’s common stock at a price per share equal to 90% of the average of the three lowest closing bids during the twenty days prior to the put date.  The Company also has the right to sell $100,000 of convertible notes to Bodie.  The closing date of the agreement is the date Bodie advances the $100,000 to the Company.  In consideration for entering into the agreement, the Company issued to Bodie 3,000,000 restricted shares of the Company’s common stock with a fair value of $90,000 and recorded financing fees of $90,000 upon execution of the contract. The Company is also to issue on or before the closing date, Class A warrants to purchase 3,000,000 shares of the Company’s common stock at an exercise price of $0.0001 for five years after issuance and Class B Warrants to purchase 6,000,000 shares of common stock at an exercise price of $0.01 for five years after issuance.  Prior to Bodie’s obligation to purchase any shares, the shares are to be registered in an effective registration statement filed with the SEC.  Refer to Note 9 (f). |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| f)   | On September 1, 2009, the Company entered into a consulting agreement with Global Eye Professional Advisors Ltd. (“Global Eye”) for a period of twelve months expiring on August 31, 2010.  Pursuant to the terms of the agreement, Global Eye will continue to provide consulting services to facilitate long range strategic planning, and to advise the Company in business and/or financial matters.  In consideration for services performed to date and for entering into the agreement the Company issued Global Eye 2,000,000 restricted shares of the Company’s common stock with a fair value of $60,000 on the closing date that has been charged to "Consulting fees and services" during the year ended February 28, 2010.  Refer to Note 9 (g). |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| g)   | On October 14, 2009, the Company entered into a lease agreement for space in Ontario Canada. The lease commenced on November 1, 2009 for a term of three years ending on October 31, 2012. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Year Ending February 28 |   | Amount |    |
|-------------------------|--------|--------|---------|
| 2011 - remainder        |   | $      | 38,695  |   |
| 2012                    |   |   | 53,268  |   |
| 2013                    |   |   | 36,360  |   |
| Total                   |   | $      | 128,323 |   |

| h)   | On December 1, 2009, the Company entered into two consulting agreements.  Under the agreements, the consultants shall provide maintenance and installation services in consideration for the issuance of a total of 2,000,000 common shares of the Company and reimbursement for reasonable travel and other related expenses.  The Company issued a total of 2,000,000 restricted shares of common stock with a fair value of $20,000 on February 24, 2010 and at May 31, 2010, $10,000 was included in prepaid expenses and $5,000 has been reflected in “Consulting fees and services” for the three months then ended.  The agreements will be in effect for a period of 12 months and may be terminated at any time. Refer to Note 9 (l). |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| i)   | On December 8, 2009, the Company entered into a consulting agreement.  Under the terms of the agreement, the consultant shall provide advice and consulting services in consideration for the issuance of 200,000 common shares of the Company within 60 days after the execution of this agreement.  The Company issued 200,000 restricted shares of common stock with a fair value of $3,000 on February 8, 2010 and at May 31, 2010, $1,500 was included in prepaid expenses and $750 has been reflected in "Consulting fees and services" for the three month period then ended. In addition, upon the implementation of an incentive stock option plan by the Company, the consultant will be eligible to receive stock options, the number to be determined by March 31, 2010.  This agreement will be in effect for a period of 12 months and is renewable upon reasonable terms and conditions agreed to by the Company and the consultant. Refer to Note 9 (i). As of the date of issuance of these financial statements, the Company has not yet finalized the incentive stock option plan. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| j)   | On March 1, 2010, the Company entered into a consulting agreement with a former director and chief financial officer (to June 15, 2009). The consultant will provide business consulting services. If the consultant is materially involved in a completed transaction with a company introduced by the Company, the consultant will receive 5% of the total value of the transaction in the same ratio of cash and/or stock as the transaction.  If the company is introduced by the consultant, the consultant will receive 8% of the total value of the transaction in the same ratio of cash and/or stock as the transaction. The agreement is for a term of six months. On March 15, 2010, the Company issued the consultant 3,500,000 restricted shares of common stock with a fair value of $70,000 as a fee upon execution of the agreement.  At May 31, 2010, $35,000 was included in prepaid expenses.  Refer to Note 9 (m). |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| k)   | On March 31, 2010, the Company entered into a public relations and corporate communications agreement with a consulting firm. Either party may terminate the agreement on 30 days written notice to the other party. The agreement is for a term of six months.  On March 31, 2010, the Company issued 3,000,000 restricted shares of common stock with a fair value of $45,000.  At May 31, 2010, $30,000 was included in prepaid expenses. Refer to 9 (p). |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| l)   | On March 15, 2010, the Company entered into a technical agreement with a firm to retain qualified technicians to perform maintenance and installation services for the Company. The agreement is for a term of twelve months.  On March 15, 2010, the Company issued 2,000,000 restricted shares of common stock to the technician with a fair value of $40,000. At May 31, 2010, $31,667 was included in prepaid expenses. Refer to 9 (o). |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Outstanding at February 28, 2009 |   |   | 308,000   |   |
|----------------------------------|--------|--------|-----------|--------|
| Granted and issued               |   |   | 2,026,667 |   |
| Exercised                        |   |   | –   |   |
| Forfeited/cancelled/expired      |   |   | (334,667  | )      |
| Outstanding at February 28, 2010 |   |   | 2,000,000 |   |
| Granted and issued               |   |   | –   |   |
| Exercised                        |   |   | –   |   |
| Forfeited/cancelled/expired      |   |   | –   |   |
| Outstanding at May 1, 2010       |   |   | 2,000,000 |   |

----

| Date Granted     |   | Number Outstanding |      |   | Number Exercisable |   |      | Exercise Price |   | Expiration Date |
|------------------|--------|--------------------|-----------|--------|--------------------|--------|-----------|----------------|--------|-----------------|
|             |   |               |      |   |               |   |      |           |   |            |
| November 1, 2009 |   |               | 500,000   |   |               |   | 500,000   |           |   | $               | 0.05 |   | November 1, 2010 (exercise price is $0.10 per share after November 1, 2010) |
| July 22, 2009    |   |               | 750,000   |   |               |   | 750,000   |           |   | $               | 0.40 |   | July 22, 2014 |
| July 22, 2009    |   |               | 750,000   |   |               |   | 750,000   |           |   | $               | 1.00 |   | July 22, 2014 |
| Total            |   |               | 2,000,000 |   |               |   | 2,000,000 |           |   |            |   |   |   |

----

| a)   | On June 2, 2010, the Company issued a total of 7,500,000 restricted shares of common stock to the three holders of the $550,000 convertible note in satisfaction of a total of $300,000 of the note payable representing a conversion price of $0.04 per share on the conversion date. Subsequent to May 31, 2010, the Company re-negotiated the payment terms with the lenders.  The parties have agreed to defer the quarterly interest payments due at the end of March, June, September, and December 2010 to December 31, 2010 and increase the interest rate from 5% per annum to 8% per annum.  Refer to Note 6. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b)   | On July 2, 2010, the Company issued a total of 1,666,667 restricted shares of common stock to Gold Spread Trading Ltd. in exchange for the cancellation of the $50,000 loan. Refer to Note 6. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| c)   | On July 6, 2010, the Company issued a total of 500,000 restricted shares of common stock to three individuals pursuant to a consulting agreement dated July 1, 2010. The consulting agreement has a term of 60 days and provides for the provision of investor relations and public relations services to the Company for compensation, in addition to the 500,000 restricted shares, of $7,000 per month payable in cash or common stock (based on the closing price of the stock on the dates that the payments are due). |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ITEM 2. | MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. |
|---------|------------------------------------------------------------|

----

| 1.   | Payment of $1,000,000 due on December 31, 2008 extended to December 31, 2009, |
|----------------|-------------------------------------------------------------------------------|

| 2.   | Payment of $1,000,000 due on March 31, 2009 extended to March 31, 2010, |
|----------------|-------------------------------------------------------------------------|

| 3.   | Payment of $1,200,000 due on August 31, 2009 extended to August 31, 2010. |
|----------------|---------------------------------------------------------------------------|

| 1.   | $500,000 payable on August 9, 2009,; and |
|----------------|------------------------------------------|

| 2.   | $300,000 payable on August 31, 2010. |
|----------------|--------------------------------------|

----

----

----

----

----

| ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. |
|---------|-------------------------------------------------------------|

| ITEM 4. | CONTROLS AND PROCEDURES. |
|---------|--------------------------|

----

----

| ITEM 5. | OTHER INFORMATION |
|---------|-------------------|

| ITEM 6. | EXHIBITS. |
|---------|-----------|

| Exhibit No. | Document Description                                                |
|-------------|--------------------------------------------------------------------------|
| 31.1        | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|        |                                                                     |
| 31.2        | Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|        |                                                                     |

----

|   | GREENCHEK TECHNOLOGY, INC. |
|--------|----------------------------|
|   | (Registrant)               |
|   |                       |   |
|   | BY:                        | /s/  Lincoln Parke |
|   |                       | Lincoln Parke |
|   |                       | President, Secretary, Treasurer, Principal executive and financial officer  |

| Signature         |   | Title    |   | Date          |
|-------------------|--------|----------|--------|---------------|
|              |   |     |   |          |
| /s/ Lincoln Parke |   | Director |   | July 20, 2010 |
| Lincoln Parke     |   |     |   |          |
|              |   |     |   |          |
| /s/Andrew Chen    |   | Director |   | July 20, 2010 |
| Andrew Chen       |   |     |   |          |
|              |   |     |   |          |
| /s/ Xin Wang      |   | Director |   | July 20, 2010 |
| Xin Wang          |   |     |   |          |

----

| Exhibit No. | Document Description                                                     |
|-------------|--------------------------------------------------------------------------|
| 31.1        | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|        |                                                                     |
| 31.2        | Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|        |                                                                     |