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|  NEW YORK                                                              |   |  30-0299889                     |
|----------------------------------------------------------------------------------|--------|--------------------------------------|
| (State or Other Jurisdiction of  incorporation or organization)   |   | (I.R.S. Employer Identification No.) |

| Large accelerated filer      |  o | Accelerated filer        |  o |
|-----------------------------------|---------|-------------------------------|---------|
| Non-accelerated filer   |  o | Small reporting company  |  x |

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|                | PART I – FINANCIAL STATEMENTS                                                               |   |   | Page   |   |
|---------------------|---------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
|                |                                                                                              |   |   |   |   |
| Item 1.             | Financial Statements.                                                         |   |   | 3      |   |
|                |                                                                                              |   |   |   |   |
| Item 2.        | Management's Discussion and Analysis of Financial Condition and Results of Operations.  |   |   | 9      |   |
|                |                                                                                              |   |   |   |   |
| Item 3.        |  Quantitative and Qualitative Disclosures About Market Risk.             |   |   | 10     |   |
|                |                                                                                              |   |   |   |   |
| Item 4.   | Controls and Procedures.                                                                |   |   | 11     |   |
|                |                                                                                              |   |   |   |   |
|                | PART II - OTHER INFORMATION                                                                       |   |   |   |   |
|                |                                                                                              |   |   |   |   |
| Item 1.             | Legal Proceedings.                                                       |   |   | 12     |   |
|                |                                                                                              |   |   |   |   |
| Item 2.             | Unregistered Sales of Equity Securities and Use of Proceeds.                                 |   |   | 12     |   |
|                |                                                                                              |   |   |   |   |
| Item 3.   | Defaults Upon Senior Securities.                                                                  |   |   | 12     |   |
|                |                                                                                              |   |   |   |   |
| Item 4.   | Submission of Matters to a Vote of Security Holders.                                    |   |   | 12     |   |
|                |                                                                                              |   |   |   |   |
| Item 5.             | Other Information.                                                                 |   |   | 12     |   |
|                |                                                                                              |   |   |   |   |
| Item 6.             | Exhibits.                                                      |   |   | 13     |   |

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|                                                                                                                                        |   | (Unaudited & Restated)December 31,2010 |       |   | March 31, 2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|------------|--------|----------------|--------|
| Assets                                                                                                                                      |   |                                       |       |   |           |   |
| Current Assets:                                                                                                                             |   |                                       |       |   |           |   |
| Cash and Cash Equivalents                                                                                                                   |   | $                                          | 95,021     |   |           | $      | 42,512 |   |
| Prepaid Expenses                                                                                                                            |   |                                       | 869,425    |   |           |   | - |   |
| Other Current Assets                                                                                                                        |   |                                       | 5,950      |   |           |   | - |   |
| Total Assets                                                                                                                                |   | $                                          | 970,396    |   |           | $      | 42,512 |   |
|                                                                                                                                        |   |                                       |       |   |           |   |   |   |
| Liabilities and Shareholders' Earnings (Deficit)                                                                                            |   |                                       |       |   |           |   |   |   |
| Current Liabilities:                                                                                                                        |   |                                       |       |   |           |   |   |   |
| Accounts Payable                                                                                                                            |   | $                                          | 77,804     |   |           | $      | 71,358 |   |
| Loans Payable-Management                                                                                                                    |   |                                       | 6,675      |   |           |   | 39,993 |   |
| Current Portion of Convertible Notes Payable                                                                                                |   |                                       | 158,750    |   |           |   | - |   |
| Accrued Interest                                                                                                                            |   |                                       | 40,784     |   |           |   | 4,370 |   |
| Payroll Tax Liabilities                                                                                                                     |   |                                       | 14,211     |   |           |   | 14,211 |   |
| Total Current Liabilities                                                                                                                   |   |                                       | 298,224    |   |           |   | 129,932 |   |
|                                                                                                                                        |   |                                       |       |   |           |   |   |   |
| Convertible Notes Payable, Less Current Portion                                                                                             |   |                                       | 245,000    |   |           |   | 204,750 |   |
| Total Liabilities                                                                                                                           |   |                                       | 543,224    |   |           |   | 334,682 |   |
|                                                                                                                                        |   |                                       |       |   |           |   |   |   |
| Shareholders’ Earnings (Deficit)                                                                                                      |   |                                       |       |   |           |   |   |   |
| Common Stock, par value $0.01 per share, 250 million shares authorized, 194,266,836 shares issued (105,115,744 shares as of March 31, 2010) |   |                                       | 1,942,668  |   |           |   | 1,051,157 |   |
| Preferred Stock, par value $0.01 per share, 50 million shares authorized, none issued                                                       |   |                                       | -          |   |           |   | - |   |
| Shares held in Escrow                                                                                                                       |   |                                       | (250,000   | )      |           |   | (250,000 | ) |
| Additional Paid In Capital                                                                                                                  |   |                                       | 1,651,586  |   |           |   | - |   |
| Retained Deficit                                                                                                                            |   |                                       | (2,917,082 | )      |           |   | (1,093,327 | ) |
| Total Shareholders' Earnings (Deficit)                                                                                                      |   |                                       | 427,172    |   |           |   | (292,170 | )  |
| Total Liabilities and Shareholders' Earnings (Deficit)                                                                                      |   | $                                          | 970,396    |   |           | $      | 42,512 |   |

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|                                       |   | (Unaudited)Three Months Ended |        |   | (Unaudited) Nine Months Ended |   |       | (Unaudited) Period From June 17, 2009 to |   |   | (Unaudited) Period From Date of Inception (June 17, 2009) to |   |
|--------------------------------------------|--------|-------------------------------|-------------|--------|-------------------------------|--------|------------|------------------------------------------|--------|--------|--------------------------------------------------------------|--------|
| December 31,                               |   | 2010(Restated)                |        |   | 2009                     |   |       | 2010(Restated)                           |   |   | 2009                                                    |   |   | 2010(Restated) |   |
| Revenues                                   |   | $                             | -           |   |                          | $      | -          |                                     |   | $      | -                                                            |   |   | $ | - |   |   | $ | - |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Expenses                                   |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Marketing and Advertising                  |   |                          | 9,790       |   |                          |   | 11,300     |                                     |   |   | 23,798                                                       |   |   |   | 11,300 |   |   |   | 36,566 |   |
| Professional Services                      |   |                          | 545,600     |   |                          |   | 249,727    |                                     |   |   | 998,797                                                      |   |   |   | 267,142 |   |   |   | 1,287,615 |   |
| Interest                                   |   |                          | 21,685      |   |                          |   | 1,093      |                                     |   |   | 36,414                                                       |   |   |   | 3,278 |   |   |   | 40,784 |   |
| Office and General Administrative          |   |                          | 11,948      |   |                          |   | 1,103      |                                     |   |   | 31,672                                                       |   |   |   | 1,103 |   |   |   | 35,828 |   |
| Rent                                       |   |                          | 3,446       |   |                          |   | 6,138      |                                     |   |   | 10,383                                                       |   |   |   | 6,138 |   |   |   | 19,974 |   |
| Total Expenses                             |   |                          | 592,469     |   |                          |   | 269,361    |                                     |   |   | 1,101,064                                                    |   |   |   | 288,961 |   |   |   | 1,420,767 |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Loss from Operations                       |   |                          | (592,469    | )      |                          |   | (269,361   | )                                        |   |   | (1,101,064                                                   | )      |   |   | (288,961 | ) |   |   | (1,420,767 | ) |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Other Expense (Income)                     |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Gain on Debt Forgiveness                   |   |                          | -           |   |                          |   | (10,501    | )                                        |   |   | -                                                            |   |   |   | (10,501 | ) |   |   | (10,501 | ) |
| Recapitalization Expenses                  |   |                          | -           |   |                          |   | -          |                                     |   |   | -                                                            |   |   |   | 759,590 |   |   |   | 759,590 |   |
| Total Other Expenses(Income)               |   |                          | -           |   |                          |   | (10,501    | )                                        |   |   | -                                                            |   |   |   | 749,089 |   |   |   | 749,089 |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Net Loss                                   |   | $                             | (592,469    | )      |                          | $      | (258,860   | )                                        |   | $      | (1,101,064                                                   | )      |   | $ | (1,038,050 | ) |   | $ | (2,169,856 | ) |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Earnings per Share                         |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Basic                                      |   | $                             | (0.0034     | )      |                          | $      | (0.0033    | )                                        |   | $      | (0.0080                                                      | )      |   | $ | (0.0147 | ) |   |   |   |   |
| Diluted                                    |   | $                             | (0.0034     | )      |                          | $      | (0.0033    | )                                        |   | $      | (0.0080                                                      | )      |   | $ | (0.0147 | ) |   |   |   |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Weighted Average Common Shares Outstanding |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Basic                                      |   |                          | 171,984,431 |   |                          |   | 79,251,547 |                                     |   |   | 137,054,208                                                  |   |   |   | 70,497,931 |   |   |   |   |   |
| Diluted                                    |   |                          | 171,984,431 |   |                          |   | 79,251,547 |                                     |   |   | 137,054,208                                                  |   |   |   | 70,497,931 |   |   |   |   |   |

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|                                                             |   | Shares |        |   | CommonStock |   |      | Shares Held in Escrow |   |   | Additional Paid In Capital |   |   | RetainedDeficit |      |   | Total  |   |
|------------------------------------------------------------------|--------|--------|-------------|--------|-------------|--------|-----------|-----------------------|--------|--------|----------------------------|--------|--------|-----------------|-----------|--------|--------|--------|
| Balance at Inception (June 17, 2009)                             |   |   | 14,405,908  |   |        | $      | 144,059   |                  |   | $      | -                          |   |   | $               | -         |   |   | $      | - |   |   | $ | 144,059 |   |
|                                                             |   |   |        |   |        |   |      |                  |   |   |                       |   |   |            |      |   |   |   |   |   |   |   |   |   |
| Common Stock Issued for Services                                 |   |   | 24,000,000  |   |        |   | 240,000   |                  |   |   | -                          |   |   |            | -         |   |   |   | - |   |   |   | 240,000 |   |
| Common Stock Issued for Satisfaction of Convertible Note Payable |   |   | 41,709,836  |   |        |   | 417,098   |                  |   |   | -                          |   |   |            | -         |   |   |   | (24,535 | ) |   |   | 392,563 |   |
| Shares Issued for Collateral                                     |   |   | 25,000,000  |   |        |   | 250,000   |                  |   |   | (250,000                   | )      |   |            | -         |   |   |   | - |   |   |   | - |   |
| Net Loss                                                         |   |   | -           |   |        |   | -         |                  |   |   | -                          |   |   |            | -         |   |   |   | (1,068,792 | ) |   |   | (1,068,792 | ) |
| Balance at March 31, 2010                                        |   |   | 105,115,744 |   |        | $      | 1,051,157 |                  |   | $      | (250,000                   | )      |   | $               | -         |   |   | $      | (1,093,327 | ) |   | $ | (292,170 | ) |
|                                                             |   |   |        |   |        |   |      |                  |   |   |                       |   |   |            |      |   |   |   |   |   |   |   |   |   |
| Common Stock Issued for Services                                 |   |   | 10,240,000  |   |        |   | 102,400   |                  |   |   | -                          |   |   |            | 14,470    |   |   |   | - |   |   |   | 116,870 |   |
| Common Stock Earned but not Issued                               |   |   | -           |   |        |   | -         |                  |   |   | -                          |   |   |            | 1,651,586 |   |   |   | - |   |   |   | 1,651,586 |   |
| Common Stock Issued for Satisfaction of Convertible Note Payable |   |   | 78,911,092  |   |        |   | 789,111   |                  |   |   |                       |   |   |            | (14,470   | )      |   |   | (722,691 | ) |   |   | 51,950 |   |
| Net Loss                                                         |   |   | -           |   |        |   | -         |                  |   |   | -                          |   |   |            | -         |   |   |   | (1,101,064 | ) |   |   | (1,101,064 | ) |
| Balance at December 31, 2010 – Unaudited & Restated    |   |   | 194,266,836 |   |        | $      | 1,942,668 |                  |   | $      | (250,000                   | )      |   | $               | 1,651,586 |   |   | $      | (2,917,082 | ) |   | $ | 427,172 |   |

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|                                                            |   | Nine Months Ended December 31, 2010(Restated) |       |   | Period from the Date of Inception to December 31, 2009 |   |       | Period from the Date of Inception to December 31, 2010(Restated) |   |
|-----------------------------------------------------------------|--------|-----------------------------------------------|------------|--------|--------------------------------------------------------|--------|------------|------------------------------------------------------------------|--------|
| Cash Flows from Operating Activities                            |   |                                          |       |   |                                                   |   |       |                                                             |   |
| Net Loss                                                        |   | $                                             | (1,101,064 | )      |                                                   | $      | (1,038,050 | )                                                                |   | $ | (2,169,856 | ) |
| NON-CASH ADJUSTMENTS                                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Common Stock Issued in Exchange for Services                    |   |                                          | 899,031    |   |                                                   |   | 240,000    |                                                             |   |   | 1,139,031 |   |
| Gain on Debt Forgiveness                                        |   |                                          | -          |   |                                                   |   | (10,501    | )                                                           |   |   | (10,501 | )  |
| Loss on Recapitalization                                        |   |                                          | -          |   |                                                   |   | 759,590    |                                                             |   |   | 759,590 |   |
| Changes in Assets and Liabilities                               |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Accounts Payable                                                |   |                                          | 6,446      |   |                                                   |   | (20,241    | )                                                                |   |   | (13,795 | ) |
| Accrued Interest                                                |   |                                          | 36,414     |   |                                                   |   | (1,250     | )                                                                |   |   | 39,534 |   |
| Net Cash Used in Operating Activities                           |   |                                          | (159,173   | )      |                                                   |   | (70,452    | )                                                                |   |   | (255,997 | ) |
|                                                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Cash Flows from Financing Activities                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Proceeds from Issuance of Convertible Note Payable              |   |                                          | 245,000    |   |                                                   |   | -          |                                                             |   |   | 269,235 |   |
| Net (Repayment) Proceeds from Shareholder Loans                 |   |                                          | (33,318    | )      |                                                   |   | 98,535     |                                                             |   |   | 81,783 |   |
| Net Cash Provided by Financing Activities                       |   |                                          | 211,682    |   |                                                   |   | 98,535     |                                                             |   |   | 351,018 |   |
|                                                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Net Change in Cash and Cash Equivalents                         |   |                                          | 52,509     |   |                                                   |   | 28,083     |                                                             |   |   | 95,021 |   |
|                                                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Cash and Cash Equivalents – Beginning of Period           |   |                                          | 42,512     |   |                                                   |   | -          |                                                             |   |   | - |   |
| Cash and Cash Equivalents – End of Period                 |   | $                                             | 95,021     |   |                                                   | $      | 28,083     |                                                             |   | $ | 95,021 |   |
|                                                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Supplemental Cash Flow Disclosures                              |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Cash paid for interest                                          |   | $                                             | -          |   |                                                   | $      | -          |                                                             |   | $ | - |   |
| Net cash payments for income taxes                              |   | $                                             | -          |   |                                                   | $      | -          |                                                             |   | $ | - |   |
|                                                            |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Supplemental Schedule of Non-Cash Financing Activities          |   |                                          |       |   |                                                   |   |       |                                                             |   |   |   |   |
| Common Stock Issued for Services                                |   | $                                             | 116,870    |   |                                                   | $      | 240,000    |                                                             |   | $ | 356,870 |   |
| Common Stock Earned but not Issued                              |   | $                                             | 1,651,586  |   |                                                   | $      | -          |                                                             |   | $ | 1,651,586 |   |
| Common Stock Issued in Satisfaction of Convertible Note Payable |   | $                                             | 51,950     |   |                                                   | $      | 7,000      |                                                             |   | $ | 61,450 |   |

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| 10.1         | Convertible Note dated September 3, 2010 (previously filed)                                                              |
|------------------------|--------------------------------------------------------------------------------------------------------------------------|
|                   |                                                                                                                     |
| 10.2    | Convertible Note dated September 17, 2010 (previously filed)                                                             |
|                   |                                                                                                                     |
| 10.3                   | Continental Investment Group, Inc. Consulting Agreement (previously filed on Form 8-K Current Report dated June 2, 2011) |
|                   |                                                                                                                     |
| 10.4                   | TRO Investments, Inc. Consulting Agreement (previously filed on Form 8-K Current Report dated June 2, 2011)              |
|                   |                                                                                                                     |
| 10.5                   | Connied, Inc. Consulting Agreement (previously filed on Form 8-K Current Report dated June 2, 2011)                      |
|                   |                                                                                                                     |
| 10.6                   | Fuselier and Co., Inc. (previously filed on Form 8-K Current Report dated June 2, 2011)                                  |
|                   |                                                                                                                     |
| 31.1    | Rule 13a-14(a) Certification – CEO                                                                                 |
|                   |                                                                                                                     |
| 31.2              | Rule 13a-14(a) Certification – CFO                                                                                 |
|                   |                                                                                                                     |
| 32                | Certification pursuant to Section 1350                                                                                   |

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|               | INOLIFE TECHNOLOGIES, INC. |                                   |
|--------------------|----------------------------|----------------------------------------|
|               |                       |                                   |   |
| Date: June 6, 2011 | By:                        | /s/ Gary Berthold                 |   |
|               |                       | Gary Berthold, Chief Executive Officer |   |

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