| UNITED      STATESSECURITIES      AND EXCHANGE COMMISSIONWASHINGTON,      D.C. 20549                                                                                                                                                                                                                                                                                                                              |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| FORM      10-Q                                                                                                                                                                                                                                                                                                                                                                                                    |
| (Mark      One)                                                                                                                                                                                                                                                                                                                                                                                                   |
| [X]           QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES           EXCHANGE      ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31,  2009                                                                                                                           |
| OR                                                                                                                                                                                                                                                                                                                                                                                                                |
| [  ]           TRANSITION      REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE      ACT           OF      1934 FOR THE TRANSITION PERIOD FROM ____________ TO      ____________                                                                                               |
| COMMISSION      FILE NUMBER 0-27757                                                                                                                                                                                                                                                                                                                                                                               |
| CASE      FINANCIAL INC.(Exact      Name of registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                               |
| DELEWARE(State      of other jurisdiction ofincorporation      or organization)                                                                                                                                                                                                                                                                                                                                   | 33-0529299(I.R.S.      EmployerIdentification      Number) |
| 7720      El Camino Real, Suite 2E, Carlsbad, CA(Address      of principal executive offices)                                                                                                                                                                                                                                                                                                                     | 92009(Zip      code) |
| (760)      804-1449(Issuer's      telephone number, including area code)                                                                                                                                                                                                                                                                                                                                          |
|  (Former      name, former address and formerfiscal      year, if changed since last report)                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate      by check mark whether the registrant: (1) has filed all reports required      to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934      during the preceding 12 months (or for such shorter period that the      registrant was required to file such reports), and (2) has been subject to      such filing requirements for the past 90 days. Yes [X] No      [  ] |
|                                                                                                                                                                                                                                                                                                                                                                                                              |
| Indicate      by check mark whether the registrant is a large accelerated filer, an      accelerated filer, a non-accelerated filer, or a smaller reporting      company. See definition of "large accelerated filer", "accelerated filer"      and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check      one):                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                              |
| Large      accelerated filer [  ]Non-accelerated      filer [  ](Do      not check if a smaller reporting company)                                                                                                                                                                                                                                                                            | Accelerated      filer [  ]Smaller      reporting company [X] |
|                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| Indicate      by check mark whether the registrant is a shell company (as defined in      Rule 12b-2 of the Exchange Act). Yes [  ] No  [X]                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                              |
| Number      of shares of issuer's common stock outstanding as of April 30, 2009:      29,185,145                                                                                                                                                                                                                                                                                                                  |

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| TABLE      OF CONTENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| PART      I – FINANCIAL      INFORMATION                                                                                    |   |
| ITEM      1. INTERIM CONSOLIDATED FINANCIAL STATEMENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT      OF OPERATION                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |
| ITEM      3. CONTROLS AND PROCEDURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| PART      II - OTHER INFORMATION                                                                                                                                          |   |
| ITEM      1. LEGAL PROCEEDINGS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| ITEM      2.  UNREGISTERED SALE OF EQUITY SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| ITEM      3. DEFAULTS IN SENIOR SECURITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |
| ITEM      4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY      HOLDERS                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
| ITEM      5.  OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
| ITEM      6.  EXHIBITS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
| SIGNATURES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |

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| CASE      FINANCIAL, INC. AND SUBSIDIARIES                                                                                                            |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|
| Consolidated      Balance Sheets                                                                                                                      |
| ASSETS                                                                                                                                                |
|                                                                                                                                                  |   | (Unaudited) |   |   |   |   |
|                                                                                                                                                  |   | As      of |   |   | As      of |   |
|                                                                                                                                                  |   | March      31, |   |   | September      30, |   |
|                                                                                                                                                  |   | 2009 |   |   | 2008 |   |
|                                                                                                                                                  |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |
| Current      Assets                                                                                                                              |   |   |   |   |   |   |
| Cash      & cash equivalents                                                                                                                      |   | $ | 66 |   |   | $ | 2,963 |   |
| Prepaid      expense                                                                                                                                  |   |   | 8,758 |   |   |   | 41,223 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Total      Current Assets                                                                                                                             |   |   | 8,824 |   |   |   | 44,186 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Net      Property & Equipment                                                                                                                     |   |   | - |   |   |   | - |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Other      Assets                                                                                                                                     |   |   |   |   |   |   |   |   |
| Deposits                                                                                                                                              |   |   | 1,453 |   |   |   | 1,453 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Total      Other Assets                                                                                                                               |   |   | 1,453 |   |   |   | 1,453 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|       TOTAL      ASSETS                                                                                                 |   | $ | 10,277 |   |   | $ | 45,639 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| LIABILITIES      & STOCKHOLDERS' EQUITY (DEFICIT)                                                                                                 |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Current      Liabilities                                                                                                                              |   |   |   |   |   |   |   |   |
| Bank      overdraft                                                                                                                                   |   | $ | - |   |   | $ | - |   |
| Accounts      payable and accrued expenses                                                                                                            |   |   | 1,073,406 |   |   |   | 757,629 |   |
| Loans      payable - related parties                                                                                                                  |   |   | 70,267 |   |   |   | 8,268 |   |
| Loans      payable                                                                                                                                    |   |   | 215,000 |   |   |   | 200,000 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Total      Current Liabilities                                                                                                                        |   |   | 1,358,673 |   |   |   | 965,897 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|       TOTAL      LIABILITIES                                                                                            |   |   | 1,358,673 |   |   |   | 965,897 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Stockholders'      Equity (Deficit)                                                                                                                   |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|      Preferred      stock, ($.0001 par value, 20,000,000                                                                     |   |   |   |   |   |   |   |   |
|        shares      authorized; none issued and outstanding.)                                                       |   |   | - |   |   |   | - |   |
| Common      stock, (par value $.001 per share, 100,000,000                                                                                            |   |   |   |   |   |   |   |   |
|    shares      authorized: 28,935,145 shares issued and outstanding                                                                    |   |   |   |   |   |   |   |   |
|    as      of March 31, 2009 and September 30, 2008)                                                                                   |   |   | 28,935 |   |   |   | 28,935 |   |
| Paid-in      capital                                                                                                                                  |   |   | 10,609,943 |   |   |   | 10,609,943 |   |
| Accumulated      deficit                                                                                                                              |   |   | (11,987,274 | ) |   |   | (11,559,136 | ) |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
| Total      Stockholders' Equity (Deficit)                                                                                                             |   |   | (1,348,396 | ) |   |   | (920,258 | ) |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |
|         TOTAL      LIABILITIES &                                                                          |   |   |   |   |   |   |   |   |
|                    STOCKHOLDERS'      EQUITY (DEFICIT) |   | $ | 10,277 |   |   | $ | 45,639 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |   |

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| CASE      FINANCIAL, INC. AND SUBSIDIARIES                   |   |
|--------------------------------------------------------------|--------|
| Consolidated      Statements of Operations (Unaudited)       |   |
| March      31, 2007                                          |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   | Six      Months |   |   | Six      Months |   |   | Three      Months |   |   | Three      Months |   |
|                                                         |   | Ended |   |   | Ended |   |   | Ended |   |   | Ended |   |
|                                                         |   | March      31, |   |   | March      31, |   |   | March      31, |   |   | March      31, |   |
|                                                         |   | 2009 |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Contract      fees                                           |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Service                                                      |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Revenue                                             |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      Expenses                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   | - |   |
| Depreciation                                                 |   |   | - |   |   |   | 149 |   |   |   | - |   |   |   | - |   |
| General      and administrative                              |   |   | 79,375 |   |   |   | 51,492 |   |   |   | 20,154 |   |   |   | 26,448 |   |
| Salaries                                                     |   |   | 84,000 |   |   |   | 84,000 |   |   |   | 42,000 |   |   |   | 42,000 |   |
| Bad      debts                                               |   |   | - |   |   |   | - |   |   |   |   |   |   |   |   |   |
| Stock      option expense                                    |   |   | - |   |   |   | - |   |   |   |   |   |   |   |   |   |
| Professional      fees                                       |   |   | 252,763 |   |   |   | 100,213 |   |   |   | 50,395 |   |   |   | 41,612 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Operating Expenses                                |   |   | 416,138 |   |   |   | 235,854 |   |   |   | 112,549 |   |   |   | 110,060 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      Income & (Expenses)                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Other      income                    |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 0 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Other Income & (Expenses)                     |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 0 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      (Loss) from operations                           |   |   | (416,138 | ) |   |   | (235,854 | ) |   | $ | (112,549 | ) |   | $ | (110,060 | ) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other      Income (Expenses)                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      income                                         |   |   | - |   |   |   | 5,453 |   |   |   | - |   |   |   | 3,433 |   |
| Interest      expense                                        |   |   | (12,000 | ) |   |   | (12,000 | ) |   |   | (6,000 | ) |   |   | (6,000 | ) |
| Other      income                                            |   |   | - |   |   |   | 13,425 |   |   |   | - |   |   |   | 11,441 |   |
| Other      expense                                           |   |   | - |   |   |   | (110 | ) |   |   | - |   |   |   | (110 | ) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      Other income                                      |   |   | (12,000 | ) |   |   | 6,768 |   |   |   | (6,000 | ) |   |   | 8,764 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss) before discontinued operations        |   |   | (428,138 | ) |   |   | (229,086 | ) |   |   | (118,549 | ) |   |   | (101,296 | ) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain      (Loss) from discontinued operations                |   |   | - |   |   |   | 268,494 |   |   |   | 97,703 |   |   |   | 63,494 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Income                                              |   | $ | (428,138 | ) |   | $ | 39,408 |   |   |   | (20,846 | ) |   |   | (37,802 | ) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Income (Loss) per common share - basic and diluted: |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| From      continuing operations                              |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | (0 | ) |   | $ | (0.00 | ) |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| From      discontinued operations                            |   | $ | - |   |   | $ | 0.01 |   |   | $ | 0 |   |   | $ | 0.00 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average number of                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   common      shares - basic and diluted           |   |   | 28,935,145 |   |   |   | 28,535,145 |   |   |   | 28,023,050 |   |   |   | 28,535,145 |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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| CASE      FINANCIAL, INC. AND SUBSIDIARIES                                                   |   |
|----------------------------------------------------------------------------------------------|--------|
|                                                                                         |   |
| Consolidated      Statements of Cash Flows                                                   |   |
|                                                                                         |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |
|                                                                                         |   | Six      Months |   |   | Six      Months |   |
|                                                                                         |   | Ended |   |   | Ended |   |
|                                                                                         |   | March      31, |   |   | March      31, |   |
|                                                                                         |   | 2009 |   |   | 2008 |   |
|                                                                                         |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |
| CASH FLOWS FROM OPERATING      ACTIVITIES                                                    |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |
| Gain      (Loss) from discontinued operations                                                |   | $ | - |   |   | $ | 39,408 |   |
| Gain      (Loss) from continuing operations                                                  |   |   | (428,138 | ) |   |   | (268,494 | ) |
| Net      income (loss)                                                                       |   |   | (428,138 | ) |   |   | (229,086 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |
| Adjustments      to reconcile net loss to net cash                                           |   |   |   |   |   |   |   |   |
| Amortization      of prepaid royalty                                                         |   |   | - |   |   |   | 149 |   |
| provided      by (used in) operating activities:                                             |   |   |   |   |   |   |   |   |
| Changes      in operating assets and liabilities:                                            |   |   |   |   |   |   |   |   |
| (Increase)      decrease in prepaid expenses                                                 |   |   | 32,465 |   |   |   | 40,486 |   |
|  Increase      (decrease) in accounts payable and other liabilities                     |   |   | 315,777 |   |   |   | 103,175 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|      Net      cash (used by) continuing operations                  |   |   | - |   |   |   | (85,276 | ) |
|      Net      cash provided by continuing operations                |   |   | - |   |   |   | 268,494 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|      Net      cash (used by) provided by operating activities  |   |   | (79,896 | ) |   |   | 183,218 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING      ACTIVITIES                                                    |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
| Increase      in loan receivable                                                             |   |   | - |   |   |   | (105,453 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|      Net      cash provided by (used in) investing activities       |   |   | - |   |   |   | (105,453 | ) |
|                                                                                         |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING      ACTIVITIES                                                    |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
| Bank      overdraft                                                                          |   |   | - |   |   |   |   |   |
| Proceeds      from borrowings - (related parties)                                            |   |   | 61,999 |   |   |   | - |   |
| Proceeds      from borrowings                                                                |   |   | 15,000 |   |   |   | - |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|      Net      cash provided by (used in) financing activities       |   |   | 76,999 |   |   |   | - |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|     Net      increase (decrease) in cash & cash equivalents          |   |   | (2,897 | ) |   |   | 77,765 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|     Cash      & cash equivalents at beginning of period              |   |   | 2,963 |   |   |   | 4,636 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|     Cash      & cash equivalents at end of period                    |   | $ | 66 |   |   | $ | 82,401 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL      DISCLOSURES OF CASH FLOW                                                   |   |   |   |   |   |   |   |   |
| INFORMATION:                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
| Interest      expense                                                                        |   | $ | 12,000 |   |   | $ | 12,000 |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |
| Income      taxes paid                                                                       |   | $ | - |   |   | $ | - |   |
|                                                                                         |   |   |   |   |   |   |   |   |
|                                                                                         |   |   |   |   |   |   |   |   |

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|   | ·              Mr. Gregory returned to the Company 750,000 shares of common stock owned      or controlled by him and cancelled two promissory notes of the Company      totaling $100,000. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·              Mr. Pollock returned to the Company 100,000 shares of common stock owned      or controlled by him and repaid in cash to the Company      $15,160. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·              Mr. Pollock and Mr. Gregory were released from further action by the      majority stockholder and the Company with respect to the claims made in      the derivative lawsuit. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·              Mr. Pollock and Mr. Gregory agreed to waive any and all further claims      against the Company and the majorstockholder. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·   | Mr.      Gregory returned to the Company 750,000 shares of common stock owned or      controlled by him and cancelled two promissory notes of the Company      totaling $100,000. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Mr.      Pollock returned to the Company 100,000 shares of common stock owned or      controlled by him and repaid in cash to the Company    $15,160. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Mr.      Pollock and Mr. Gregory were released from further action by the majority      stockholder and the Company with respect to the claims made in the      derivative lawsuit. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Mr.      Pollock and Mr. Gregory agreed to waive any and all further claims against      the Company and the majorstockholder. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      cancellation of promissory notes and accrued interest together totaling      approximately $875,000 held by thisindividual. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      dismissal of Mr. Bibicoff from the derivative lawsuit filed in the      Delaware Court of Chancery on March 16,2005. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      release of each party from any and all claims that could have been      asserted by the other party in any of the actions dismissed as a result of      this settlement agreement. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 1.   | Notes      payable, uncollateralized, interest payable $150,000 monthly at 12.0% per      annum, due January 1, 2007. The Company is in default on this      note. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Note      payable, uncollateralized, interest payable $50,000 monthly at 12.0% per      annum, due January 1, 2007. The Company is in default on this      note. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Exhibit      No. |                                                                                                          |
|------------------|---------------------------------------------------------------------------------------------------------------|
| 31.1             | Certification      of Chief Executive Officer Pursuant to Section 302 of the Sarbanes Oxley      Act of 2002. |
| 31.2             | Certification      of Chief Financial Officer Pursuant to Section 302 of the Sarbanes Oxley      Act of 2002  |
| 32               | Certification      Pursuant to Section 906 of the Sarbanes Oxley Act of  2002                                 |

| Dated:      May 20, 2009 |   | Case      Financial, Inc                                                                       |
|--------------------------|--------|------------------------------------------------------------------------------------------------|
|                     |   | /s/      Michael Schaffer                                                                      |
|                     |   | By:      Michael SchafferIts:      Chief Executive Officer(Principal      Executive Officer)   |
|                     |   |                                                                                           |
|                     |   | /s/      Lawrence Schaffer                                                                     |
|                     |   | By:      Lawrence SchafferIts:      Chief Financial Officer(Principal      Accounting Officer) |

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