--------------------------------------------------------------------------------

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                ----------------
                                  FORM 10-KSB/A
                                (Amendment No. 1)
(Mark One)

|X|      ANNUAL  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
         EXCHANGE ACT OF 1934

                     For the fiscal year ended July 31, 2005

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

                     For the transition period from           to
                                                    ---------   ---------


                        Commission File Number 001-31937
                                ----------------
                           ZEOLITE EXPLORATION COMPANY
           (Name of Small Business Issuer as Specified in its Charter)

         Nevada                                              N/A
(State of Incorporation)                       (IRS Employer Identification No.)

                               Youth Pioneer Park
               Tai-an Economic and Technological Development Zone
                      Tai'an City, Shandong Province 271000
                           People's Republic of China
                    (Address of Principal Executive Offices)

                                (86-538) 856-0618
                (Issuer's Telephone Number, Including Area Code)
                                ----------------

        Securities registered pursuant to section 12 (b) of the Act: None

           Securities registered pursuant to section 12(g) of the Act:
                    Common Stock, par value $.00001 per share
                                (Title of Class)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the Exchange Act during the preceding  twelve 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
|_|

Check if there is no disclosure of delinquent  filers in response to Item 405 of
regulation S-B contained in this form, and no disclosure  will be contained,  to
the  best  of  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this form  10-KSB or any
amendment to this Form 10-KSB. |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|

The  registrant's  revenues  for fiscal  year  ended July 31,  2005 were $0. The
aggregate market value of the registrant's  voting and non-voting  common equity
held by non-affiliates as of November 15, 2005 was $1,280,000.

The number of shares outstanding of the registrant's common stock as of November
15, 2005, was 6,275,000 shares

Transitional Small Business Disclosure Format. Yes |_| No |X|


--------------------------------------------------------------------------------



<PAGE>

EXPLANATORY NOTE:

         Zeolite  Exploration  Company  is filing  this  Amendment  No. 1 to its
Annual  Report on Form 10-KSB for the year ended July 31, 2005 to amend Part II,
Item 7 (Financial Statements).  Our original Form 10-KSB for the year ended July
31, 2005 was filed with the Securities  and Exchange  Commission on November 22,
2005.

         We are amending Item 7 to include:  (i) a revised report of Rotenberg &
Co., LLP with  respect to such firm's audit of our balance  sheet as of July 31,
2005, and the related statements of operations, changes in stockholders' equity,
and cash flows for the year then ended and for the period from date of inception
(May 11,  2001)  through July 31,  2005,  and (ii) a revised  report of Schwartz
Levitsky  Feldman LLP with respect to such firm's audit of our balance  sheet as
of  July  31,  2004,  and the  related  statements  of  operations,  changes  in
stockholders'  equity, and cash flows for the year then ended and for the period
from date of  inception  (May 11, 2001)  through  July 31, 2004.  The reports of
these independent  registered public accounting firms have been revised to cover
the  cumulative  periods from  inception  (May 11, 2001)  through the end of the
period covered by their respective reports.

         In accordance with Rule 12b-15 under the Securities and Exchange Act of
1934, this Form 10-KSB/A sets forth the complete text of Item 7, as amended,  of
our Form 10-KSB for the year ended July 31, 2005.  Except for the revised report
of Rotenberg & Co., LLP and the revised report of Schwartz  Levitsky Feldman LLP
included in this  Amendment  No. 1, no changes  have been made to the  financial
statements  previously  included in Item 7 of our original Annual Report on Form
10-KSB for the year ended July 31, 2005 filed on November 22, 2005.

         In connection  with the filing of this  Amendment No. 1 and pursuant to
SEC rules  promulgated  pursuant  to the  Securities  Exchange  Act of 1934,  as
amended,  we are including  with this  Amendment No. 1 certain  currently  dated
certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. Except
as  described  above,  and except for the change in our  address  and  telephone
number  appearing on the cover page of this Amendment No. 1, no other amendments
are being made to the  Annual  Report.  This  Amendment  No. 1 does not  reflect
events  occurring  after the  November  22, 2005 filing of the Annual  Report or
modify or update the disclosure  contained in the Annual Report in any way other
than as required to reflect the amendments discussed above and reflected below.









<PAGE>

                                     PART II

Item 7.  Financial Statements.


Revised Report of Independent Registered Public Accounting Firm..............F-1

Revised Report of Independent Registered Public Accounting Firm..............F-2

Independent Auditor's Report.................................................F-3

Balance Sheets as of July 31, 2005 and 2004..................................F-4

Statements of Operations for the years ended July 31, 2005 and 2004 and
   for the period from inception (May 11, 2001) to July 31, 2005.............F-5

Statements of Shareholders' Equity for the years ended July 31, 2005 and
   2004 and for the period from inception (May 11, 2001) to July 31, 2005....F-6

Statements of Cash Flows for the years ended July 31, 2005 and 2004 and
   for the period from inception (May 11, 2001) to July 31, 2005.............F-7

Notes to Financial Statements................................................F-8




















<PAGE>

         REVISED REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors
  and Stockholders
Zeolite Exploration Company
(An Exploration Stage Company)
(A Nevada Corporation)
Surrey, British Columbia Canada


         We have audited the accompanying  balance sheet of Zeolite  Exploration
Company as of July 31, 2005, and the related  statements of operations,  changes
in  stockholders'  equity,  and cash  flows for the year then  ended and for the
period from date of  inception  (May 11,  2001)  through  July 31,  2005.  These
financial  statements are the  responsibility of the Company's  management.  Our
responsibility  is to express an opinion on these financial  statements based on
our audit. The balance sheet of Zeolite Exploration Company as of July 31, 2004,
and the related statements of operations,  changes in stockholders'  equity, and
cash  flows for the year then ended and for the  period  from date of  inception
(May 11,  2001)  through  July 31,  2004 were  audited by other  auditors  whose
reports have been furnished to us, and our opinion, insofar as it relates to the
cumulative  financial  information  for the  Company for the period from date of
inception  (May 11, 2001)  through July 31, 2004, is based solely on the reports
of the other auditors.

         We conducted our audit in  accordance  with the Standards of the Public
Company Accounting Oversight Board (United States). Those standards require that
we plan and perform the audit to obtain  reasonable  assurance about whether the
financial  statements  are free of  material  misstatement.  The  Company is not
required  to have,  nor were we engaged  to  perform,  an audit of its  internal
control over financial reporting.  Our audit included  consideration of internal
control over financial  reporting as a basis for designing audit procedures that
are appropriate in the  circumstances,  but not for the purpose of expressing an
opinion on the  effectiveness  of the Company's  internal control over financial
reporting.  Accordingly,  we express  no such  opinion.  An audit also  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial   statements,   assessing  the  accounting  principles  used  and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.

         In our opinion,  the  financial  statements  referred to above  present
fairly, in all material respects,  the financial position of Zeolite Exploration
Company as of July 31,  2005,  and the  results of its  operations  and its cash
flows for the year then ended and for the period from the date of inception (May
11, 2001)  through July 31,  2005,  in  conformity  with  accounting  principles
generally accepted in the United States of America.

         The  accompanying  financial  statements  have been  prepared  assuming
Zeolite  Exploration  Company will continue as a going concern.  As discussed in
Note 1 to the financial  statements,  the Company has incurred  losses that have
resulted in an accumulated  deficit.  This condition  raises  substantial  doubt
about the Company's ability to continue as a going concern.  Management's  plans
regarding  this matter are described in Note 1. The financial  statements do not
include any adjustments that might result from the outcome of this uncertainty.



/s/  Rotenberg & Co., LLP

Rotenberg & Co., LLP
Rochester, New York
  October 19, 2005










                                      F-1

<PAGE>

         REVISED REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Schwartz Levitsky Feldman LLP
CHARTERED ACCOUNTANTS
TORONTO, MONTREAL, OTTAWA


To the Board of Directors and Stockholders of
Zeolite Exploration Company
         (An Exploration Stage Company)
         (A Nevada Corporation)
         Surrey, British Columbia Canada

We have audited the accompanying balance sheet of Zeolite Exploration Company as
at  July  31,  2004  and  the  related  statements  of  operations,  changes  in
stockholders'  equity  and cash flows for the year then ended and for the period
from date of inception  (May 11, 2001)  through July 31, 2004.  These  financial
statements   are  the   responsibility   of  the   Company's   management.   Our
responsibility  is to express an opinion on these financial  statements based on
our audit. The balance sheet of Zeolite Exploration Company as of July 31, 2003,
and the related statements of operations,  changes in stockholders'  equity, and
cash  flows for the year then ended and for the  period  from date of  inception
(May 11, 2001) through July 31, 2003 were audited by other auditor whose reports
have been  furnished  to us,  and our  opinion,  insofar  as it  relates  to the
cumulative  financial  information  for the  Company for the period from date of
inception (May 11, 2001) through July 31, 2003 is based solely on the reports of
the other auditors.

We conducted  our audit in accordance  with the Standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements  are free of material  misstatement.  The Company is not  required to
have,  nor were we engaged to perform,  an audit of its  internal  control  over
financial  reporting.  An audit included  consideration of internal control over
financial  reporting  as  a  basis  for  designing  audit  procedures  that  are
appropriate  in the  circumstances,  but not for the  purpose of  expressing  an
opinion on the  effectiveness  of the Company's  internal control over financial
reporting.  Accordingly,  we express  no such  opinion.  An audit also  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial   statements,   assessing  the  accounting  principles  used  and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audit  provides  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects,  the financial position of Zeolite Exploration Company as
at July 31,  2004 and the results of its  operations  and its cash flows for the
year then ended and for the period  from the date of  inception  (May 11,  2001)
through  July  31,  2004 in  conformity  with  accounting  principles  generally
accepted in the United States of America.


                                               /s/ Schwartz Levitsky Feldman LLP
Toronto, Ontario, Canada
September 23, 2004                                         Chartered Accountants

1167 Caledonia Road
Toronto, Ontario M6A 2X1
Tel: 416 785 5353
Fax: 416 785 5663







                                      F-2

<PAGE>

                           INDEPENDENT AUDITORS REPORT



JOHN J. GEIB          CHARTERED ACCOUNTANT                      Phone:  259-4519
                      Southcentre Executive Tower               Fax:    255-0745
                      405, 11012 Macleod Trail South
                      Calgary, Alberta T2J 6A5



 To Board of Directors and Stockholders of:
Zeolite Exploration Company


I have audited the accompanying  balance sheets of Zeolite  Exploration  Company
(an  exploration  stage  company)  as of July 31,  2003 and 2002 and the related
statements of operations, changes in stockholders' equity and cash flows for the
years then ended and for the  period  from  inception  to July 31,  2003.  These
financial  statements are the  responsibility  of the Company's  management.  My
responsibility  is to express an opinion on these financial  statements based on
my audits.


I conducted my audits in accordance with auditing  standards  generally accepted
in the United States of America. Those standards require that I plan and perform
the audit to obtain reasonable  assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.  An
audit also includes  assessing the accounting  principles  used and  significant
estimates  made by  management,  as well as  evaluating  the  overall  financial
statement presentation.  I believe that my audits provide a reasonable basis for
my opinion.


In my opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of Zeolite Exploration Company as of
July 31, 2003 and 2002 and the results of its operations and its cash flows for
the years then ended and for the period from inception to July 31, 2003 in
conformity with accounting principles generally accepted in the United States of
America.


The  accompanying  financial  statements  have been  prepared  assuming that the
Company will  continue as a going  concern.  As discussed in Note 2, the Company
has  been  in the  exploration  stage  since  its  inception  on May  11,  2001.
Realization  of a major  portion of the assets is dependent  upon the  Company's
ability to meet its future  financing  requirements,  and the  success of future
operations.  These factors raise  substantial  doubt about Company's  ability to
continue as a going concern. Management's plans regarding those matters also are
described in Note 2. The  financial  statements  do not include any  adjustments
that might result from the outcome of this uncertainty.

                                                             /s/ John J. Geib
 Calgary, Alberta
                                                            Chartered Accountant
October 7, 2003





                                      F-3
<PAGE>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
BALANCE SHEETS
                                                        US $         US $
July 31,                                                2005         2004
--------------------------------------------------------------------------------

                                     ASSETS

CURRENT
   Cash                                                  $  86,916    $ 106,671
                                                         =========    =========

--------------------------------------------------------------------------------

                                   LIABILITIES


CURRENT
   Accounts payable                                      $  12,813    $   3,015
                                                         ---------    ---------



                              SHAREHOLDERS' EQUITY


SHARE CAPITAL

    Common stock, 100,000,000 shares authorized;

    $0.00001 par value;

    6,275,000 shares issued and outstanding                     63           63

    Additional paid in capital                             402,437      402,437

    Accumulated deficit                                   (328,397)    (298,844)
                                                         ---------    ---------

                                                            74,103      103,656
                                                         ---------    ---------

                                                         $  86,916    $ 106,671
                                                         =========    =========



--------------------------------------------------------------------------------
   The accompanying notes are an integral part of these financial statements


                                      F-4
<PAGE>
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
STATEMENTS OF OPERATIONS
                                                  US $          US $            US $
                                                                             Cumulative
                                                                               Since
                                                                             Inception
For the Years Ended July 31,                      2005          2004
---------------------------------------------------------------------------------------
<S>                                           <C>            <C>            <C>


REVENUE                                       $      --      $      --      $      --
                                              -----------    -----------    -----------



EXPENSES
  Consulting services provided by officers           --             --          254,793
  Legal fees                                         --             --           20,000
  Exploration fees                                  5,000           --           15,108
  General and administrative expenses              24,553          5,813         38,496
                                              -----------    -----------    -----------

NET LOSS FOR THE YEAR                         $   (29,553)   $    (5,813)   $  (328,397)
                                              ===========    ===========    ===========


NET LOSS PER COMMON SHARE BASIC AND DILUTED   $      0.00    $      0.00
                                              ===========    ===========


WEIGHTED AVERAGE NUMBER OF COMMON
SHARES OUTSTANDING BASIC AND DILUTED            6,275,000      6,275,000
                                              ===========    ===========
</TABLE>
















--------------------------------------------------------------------------------
   The accompanying notes are an integral part of these financial statements

                                      F-5
<PAGE>
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
STATEMENTS OF SHAREHOLDERS' EQUITY
For the Years Ended July 31, 2005 and 2004
-------------------------------------------------------------------------------------------------------------------


                                                         US $                 US $           US $          US $
                                                                                           Deficit
                                                    Common Stock                         Accumulated
                                                                           Additional      During
                                                Number                      Paid-in      Exploration
                                              of Shares       Amount        Capital         Stage          Total
                                             -----------   -----------    -----------    -----------    -----------
<S>                                          <C>           <C>            <C>            <C>            <C>
Inception, May 11, 2001                             --     $      --      $      --      $      --      $      --

Issuance of common stock for mining claims
   and officers' compensation at $0.055
   per share                                   5,000,000            50        274,950           --          275,000

Net loss, Year Ended July 31, 2001                  --            --             --         (275,000)      (275,000)
                                             -----------   -----------    -----------    -----------    -----------

Balance, July 31, 2001                         5,000,000            50        274,950       (275,000)          --

Net loss, Year Ended July 31, 2002                  --            --             --           (2,026)        (2,026)
                                             -----------   -----------    -----------    -----------    -----------

Balance, July 31, 2002                         5,000,000            50        274,950       (277,026)        (2,026)

Issuance of common stock for cash
   consideration at $0.10 per share            1,275,000            13        127,487           --          127,500

Net loss, Year Ended July 31, 2003                  --            --             --          (16,005)       (16,005)
                                             -----------   -----------    -----------    -----------    -----------

Balance, July 31, 2003                         6,275,000            63        402,437       (293,031)       109,469

Net loss, Year Ended July 31, 2004                  --            --             --           (5,813)        (5,813)
                                             -----------   -----------    -----------    -----------    -----------

Balance, July 31, 2004                         6,275,000            63        402,437       (298,844)       103,656

Net loss, Year Ended July 31, 2005                  --            --             --          (29,553)       (29,553)
                                             -----------   -----------    -----------    -----------    -----------

Balance, July 31, 2005                         6,275,000   $        63    $   402,437    $  (328,397)   $    74,103
                                             ===========   ===========    ===========    ===========    ===========
</TABLE>









--------------------------------------------------------------------------------
    The accompanying notes are an integral part of these financial statements


                                      F-6
<PAGE>
<TABLE>
<CAPTION>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
STATEMENTS OF CASH FLOWS
                                                                 US $          US $          US $
                                                                                          Cumulative
                                                                                            Since
                                                                                          Inception
For the Years Ended July 31,                                     2005          2004
----------------------------------------------------------------------------------------------------
<S>                                                           <C>           <C>           <C>

CASH FLOWS FROM OPERATING ACTIVITIES
      Net loss                                                $  (29,553)   $   (5,813)   $ (328,397)
      Changes in non-cash working capital
            Increase (decrease) in trade payables                  9,798           736        12,813
      Adjustments to reconcile net loss to net cash used by
         operating activities
            Stock issued for services                               --            --         275,000
                                                              ----------    ----------    ----------
                                                                 (19,755)       (5,077)      (40,584)
                                                              ----------    ----------    ----------

CASH FLOWS FROM FINANCING ACTIVITIES
      Proceeds from issuance of common stock                        --            --         127,500
                                                              ----------    ----------    ----------

CASH FLOWS FROM INVESTING ACTIVITIES                                --            --            --
                                                              ----------    ----------    ----------

NET INCREASE (DECREASE) IN CASH                                  (19,755)       (5,077)       86,916

CASH, BEGINNING OF THE YEAR                                      106,671       111,748          --
                                                              ----------    ----------    ----------

CASH, END OF THE YEAR                                         $   86,916    $  106,671    $   86,916
                                                              ==========    ==========    ==========

</TABLE>




--------------------------------------------------------------------------------
    The accompanying notes are an integral part of these financial statements

                                      F-7
<PAGE>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
For the Years Ended July 31, 2005 and 2004
--------------------------------------------------------------------------------



1.  NATURE OF OPERATIONS AND GOING CONCERN

    Zeolite   Exploration   Company   (hereinafter   "the  Company")  filed  for
    incorporation  on May 11,  2001  under  the  laws  of the  state  of  Nevada
    primarily for the purpose of acquiring,  exploring  and  developing  mineral
    properties. The Company's fiscal year end is July 31st.

    The Company is actively seeking additional  capital and management  believes
    that the Company can develop  mineral  properties,  which it has acquired in
    British  Columbia.  However,  there  are  inherent  uncertainties  in mining
    operations  and  management  cannot  provide  assurances  that  it  will  be
    successful in this endeavour. Furthermore, the Company is in the exploration
    stage,  as it has not realized  any  significant  revenues  from its planned
    operations.

    The Company's  financial  statements  have been presented on a going concern
    basis that  contemplates  the realization of assets and the  satisfaction of
    liabilities in the normal course of business.  As shown in the  accompanying
    financial  statements,  the Company had not incurred  any revenue  since its
    inception.  This  condition  raises  substantial  doubt about the  Company's
    ability  to  continue  as a going  concern.  Management  has  plans  to seek
    additional  capital  through a private  placement and public offering of its
    common  stock.  The  financial  statements  do not include  any  adjustments
    relating to the recoverability and classification of recorded assets, or the
    amounts and  classification  of  liabilities  that might be necessary in the
    event the Company cannot continue in existence.

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

    This summary of  significant  accounting  policies is presented to assist in
    understanding the financial  statements.  The financial statements and notes
    are  representations of the Company's  management,  which is responsible for
    their  integrity  and  objectivity.  These  accounting  policies  conform to
    accounting principles generally accepted in the United States of America and
    have  been  consistently   applied  in  the  preparation  of  the  financial
    statements.

    (a) Use of Estimates

        The  process  of  preparing  financial  statements  in  conformity  with
        accounting principles generally accepted in the United States of America
        requires the use of estimates and assumptions regarding certain types of
        assets,  liabilities,  revenues, and expenses.  Such estimates primarily
        relate  to  unsettled  transactions  and  events  as of the  date of the
        financial statements.  Accordingly,  upon settlement, actual results may
        differ from estimated accounts.

    (b) Exploration Stage Activities

        The Company has been in the exploration stage since its formation on May
        11,  2001  and  has not yet  realized  any  revenues  from  its  planned
        operations. It is primarily engaged in the acquisition, exploration, and
        development of mining properties. Upon location of a commercial mineable
        reserve,  the  Company  expects  to  actively  prepare  the site for its
        extraction and enter a development stage.

    (c) Foreign Currency Transactions

        Through the course of business,  the Company has received  services that
        were  billed in a  currency  other than the United  States  dollar,  the
        Company's functional  currency.  Management has elected to value foreign
        currency  transactions at average rates of exchange in effect during the
        reporting  period.  Realized  gains and  losses  from  foreign  currency
        transactions are reflected in the results of operations.


                                      F-8
<PAGE>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
For the Years Ended July 31, 2005 and 2004
--------------------------------------------------------------------------------

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)



    (d) Cash and Cash Equivalents

        For purposes of the Statement of Cash Flows,  the Company  considers all
        short term debt securities  purchased with a maturity of three months or
        less to be cash equivalents.

    (e) Exploration Costs

        In  accordance  with  accounting  principles  generally  accepted in the
        United  States of America,  the Company  expenses  exploration  costs as
        incurred.

    (f) Provision for Taxes

        At July 31, 2005, the Company had no operating revenue. No provision for
        taxes or tax benefit have been reported in the financial statements,  as
        there is not a measurable means of assessing future profits or losses.

    (g) Basic and Diluted Loss per Share

         Loss per share was computed by dividing the net loss by the weighted
         average number of shares outstanding during the period. The weighted
         average number of shares was calculated by taking the number of shares
         outstanding and weighting them by the amount of time that they were
         outstanding. Basic and diluted loss per shares was the same, as there
         were no common stock equivalents outstanding.

    (h) Financial Instruments

        The  Company's  financial  instruments  consist  of  cash  and  accounts
        payable.  Unless  otherwise  noted, it is management's  opinion that the
        company is not  exposed to  significant  interest,  currency,  or credit
        risks arising from these financial instruments.  The fair value of these
        financial   instruments   approximates  their  carrying  value,   unless
        otherwise noted.

    (i) Recently Issued Accounting Standards

        In November  2004,  The Financial  Accounting  Standards  Board ("FASB")
        issued  Statement  of  Financial  Accounting  Standard  ("SFAS") No. 151
        "Inventory  Costs - an amendment of ARB No. 43, Chapter 4" ("SFAS 151").
        This statement  amends the guidance in ARB No. 43, Chapter 4, "Inventory
        Pricing",  to  clarify  the  accounting  for  abnormal  amounts  of idle
        facility   expense,   freight,   handling  costs,   and  waste  material
        (spoilage).  SFAS  151  requires  that  those  items  be  recognized  as
        current-period  charges.  In addition,  this statement requires that all
        allocation of fixed production overheads to costs of conversion be based
        upon the normal capacity of the production facilities. The provisions of
        SFAS 151 are effective for fiscal years  beginning  after June 15, 2005.
        As such,  the  Company is  required  to adopt  these  provisions  at the
        beginning  of the fiscal year ended July 31, 2006.  Management  does not
        expect  the  adoption  of SFAS 151 to have a  significant  impact on the
        financial position or results of operations of the Company.


                                      F-9
<PAGE>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
For the Years Ended July 31, 2005 and 2004
--------------------------------------------------------------------------------

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)



    In December 2004, the FASB issued SFAS No. 152  "Accounting  for Real Estate
    Time-Sharing  Transactions - an amendment of FASB  Statements No. 66 and 67"
    ("SFAS 152").  This statement  amends FASB Statement No. 66 "Accounting  for
    Sales of Real Estate" to reference  the financial  accounting  and reporting
    guidance for real estate time-sharing transactions that is provided in AICPA
    Statement  of  Position  04-2  "Accounting  for  Real  Estate   Time-Sharing
    Transactions"  ("SOP  04-2").  SFAS 152 also  amends FASB  Statement  No. 67
    "Accounting for Costs and Initial Rental Operations of Real Estate Projects"
    to state that the guidance for  incidental  operations and costs incurred to
    sell  real  estate  projects  does  not  apply to real  estate  time-sharing
    transactions,  with the  accounting  for those  operations  and costs  being
    subject  to the  guidance  in SOP  04-2.  The  provisions  of  SFAS  152 are
    effective in fiscal years beginning after June 15, 2005. As Such the Company
    is required to adopt these  provisions  at the  beginning of the fiscal year
    ended July 31, 2006.  Management does not expect the adoption of SFAS 152 to
    have a significant impact on the financial position or results of operations
    of the Company.

    In December 2004,  the FASB issued SFAS No. 153  "Exchanges of  Non-monetary
    Assets - an amendment of APB Opinion No. 29" ("SFAS 153"). SFAS 153 replaces
    the  exception  from  fair  value  measurement  in APB  Opinion  No.  29 for
    non-monetary exchanges of similar productive assets with a general exception
    from fair value measurement for exchanges of non-monetary assets that do not
    have commercial substance.  A non-monetary exchange has commercial substance
    if the future cash flows of the entity are expected to change  significantly
    as a result of the exchange.  SFAS 153 is effective for all interim  periods
    beginning  after June 15,  2005.  As such,  the Company is required to adopt
    these  provisions at the  beginning of the fiscal  quarter ended October 31,
    2005.  The  Company is  currently  evaluating  the impact of SFAS 153 on its
    financial statements.

    In December 2004, the FASB issued SFAS No. 123R "Share-Based Payment" ("SFAS
    123R"). SFAS 123R revises FASB Statement No. 123 "Accounting for Stock-Based
    Compensation" and supersedes APB Opinion No. 25 "Accounting for Stock issued
    to  Employees".  SFAS 123R requires all public and  non-public  companies to
    measure and recognize  compensation expense for all stock-based payments for
    services  received at the grant-date  fair value,  with the cost  recognized
    over the vesting  period (or the  requisite  service  period).  SFAS 123R is
    effective for small business  issuers for all fiscal years  beginning  after
    December  15,  2005.  As such,  the  Company  is  required  to  adopt  these
    provisions  at the  beginning  of the fiscal year ended July 31,  2007.  The
    Company is  currently  evaluating  the impact of SFAS 123R on its  financial
    statements.

    In May 2005,  the FASB issued SFAS No.  154,  "Accounting  Changes and Error
    Corrections - a replacement  of APB Opinion No. 20 and FASB Statement No. 3"
    ("SFAS 154").  SFAS 154 changes the  requirements for the accounting for and
    reporting of a change in accounting  principle.  These requirements apply to
    all voluntary changes and changes required by an accounting pronouncement in
    the  unusual  instance  that the  pronouncement  does not  include  specific
    transition  provisions.  SFAS 154 is effective  for fiscal  years  beginning
    after  December  15, 2005.  As such,  the Company is required to adopt these
    provisions  at the  beginning  of the fiscal year ended July 31,  2007.  The
    Company is  currently  evaluating  the  impact of SFAS 154 on its  financial
    statements.



                                      F-10
<PAGE>

--------------------------------------------------------------------------------
ZEOLITE EXPLORATION COMPANY
(An Exploration Stage Company)
NOTES TO FINANCIAL STATEMENTS
For the Years Ended July 31, 2005 and 2004
--------------------------------------------------------------------------------



3.  COMMON STOCK

    On May 11,  2001,  5,000,000  shares of common stock were issued to officers
    and directors  only.  There was no public  offering of any  securities.  The
    above referenced shares were issued in payment of consulting services in the
    amount of $253,500,  legal and administrative  fees in the amount of $21,000
    and acquisition of mining claims for $500. These shares were issued pursuant
    to exemption from  registration  contained in Section 4(2) of the Securities
    Act of 1933.

    In April  2003,  1,275,000  shares of common  stock  were  issued for a cash
    consideration  in the amount of $127,500.  These shares were issued pursuant
    to exemption from  registration  contained in Section 3(b) of the Securities
    Act of 1933.

























                                      F-11




<PAGE>

                                   SIGNATURES

         Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
Exchange Act of 1934,  the  registrant  has duly caused this amendment to annual
report to be signed on its behalf by the undersigned, thereunto duly authorized.

                                        ZEOLITE EXPLORATION COMPANY

                                        By: /s/ Xiangzhi Chen
                                           -------------------------------------
                                           Xiangzhi Chen,
                                           President and Chief Executive Officer

                                           Date:  August 3, 2006

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
this  report has been  signed  below by the  following  persons on behalf of the
registrant and in the capacities on August 3, 2006.

       Signature                                  Title
       ---------                                  -----

                            President and Chief Executive Officer (principal
/s/  Xiangzhi Chen          executive officer) and Director
-------------------
Xiangzhi Chen
                            Chief Financial Officer (principal financial officer
/s/ Anhui Guo               and principal accounting officer)
-------------------
Anhui Guo