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| NEW YORK                                                                   |   |  30-0592474                    |
|---------------------------------------------------------------------------------|--------|-------------------------------------|
| (State or Other Jurisdiction of incorporation or organization)   |   | (I.R.S. EmployerIdentification No.) |

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|                           |                                                                                              |   | Page   |   |
|--------------------------------|---------------------------------------------------------------------------------------------------|--------|--------|--------|
|                           |                                                                                              |   |   |   |
| PART I - FINANCIAL INFORMATION |                                                                                              |
|                           |                                                                                              |   |   |   |
| 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.                   |   |   | 11     |   |
|                           |                                                                                              |   |   |   |   |
| 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.                                                      |   |   | 12     |   |

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|                                                                                                                                        |   | (Unaudited)December 31,2010 |       |   | March 31, 2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|------------|--------|----------------|--------|
| Assets                                                                                                                                      |   |                        |       |   |           |   |
| Current Assets:                                                                                                                             |   |                        |       |   |           |   |
| Cash and Cash Equivalents                                                                                                                   |   | $                           | 95,021     |   |           | $      | 42,512 |   |
| Prepaid Expenses                                                                                                                            |   |                        | 49,700     |   |           |   | - |   |
| Other Current Assets                                                                                                                        |   |                        | 5,950      |   |           |   | - |   |
| Total Assets                                                                                                                                |   | $                           | 150,671    |   |           | $      | 42,512 |   |
|                                                                                                                                        |   |                        |       |   |           |   |   |   |
| Liabilities and Shareholders' 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    |   |           |   | 59,932 |   |
|                                                                                                                                        |   |                        |       |   |           |   |   |   |
| Convertible Notes Payable, Less Current Portion                                                                                             |   |                        | 245,000    |   |           |   | 204,750 |   |
| Total Liabilities                                                                                                                           |   |                        | 543,224    |   |           |   | 334,682 |   |
|                                                                                                                                        |   |                        |       |   |           |   |   |   |
| Shareholders’ 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                                                                                                                  |   |                        | -          |   |           |   | - |   |
| Retained Deficit                                                                                                                            |   |                        | (2,085,221 | )      |           |   | (1,093,327 | ) |
| Total Shareholders' Deficit                                                                                                                 |   |                        | (392,553   | )      |           |   | (292,170 | )  |
| Total Liabilities and Shareholders' Deficit                                                                                                 |   | $                           | 150,671    |   |           | $      | 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                          |        |   | 2009                          |   |       | 2010                                     |   |   | 2009                                                         |   |   | 2010 |   |
| Revenues                                   |   | $                             | -           |   |                          | $      | -          |                                     |   | $      | -                                                            |   |   | $ | - |   |   | $ | - |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Expenses                                   |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Marketing and Advertising                  |   |                          | 9,790       |   |                          |   | 11,300     |                                     |   |   | 23,798                                                       |   |   |   | 11,300 |   |   |   | 36,566 |   |
| Professional Services                      |   |                          | 148,911     |   |                          |   | 249,727    |                                     |   |   | 204,136                                                      |   |   |   | 267,142 |   |   |   | 492,954 |   |
| 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                             |   |                          | 195,780     |   |                          |   | 269,361    |                                     |   |   | 306,403                                                      |   |   |   | 288,961 |   |   |   | 626,106 |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Loss from Operations                       |   |                          | (195,780    | )      |                          |   | (269,361   | )                                        |   |   | (306,403                                                     | )      |   |   | (288,961 | ) |   |   | (626,106 | ) |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| 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                                   |   | $                             | (195,780    | )      |                          | $      | (258,860   | )                                        |   | $      | (306,403                                                     | )      |   | $ | (1,038,050 | ) |   | $ | (1,375,195 | ) |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Earnings per Share                         |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Basic                                      |   | $                             | (0.0012     | )      |                          | $      | (0.0033    | )                                        |   | $      | (0.0022                                                      | )      |   | $ | (0.0147 | ) |   |   |   |   |
| Diluted                                    |   | $                             | (0.0012     | )      |                          | $      | (0.0033    | )                                        |   | $      | (0.0022                                                      | )      |   | $ | (0.0147 | ) |   |   |   |   |
|                                       |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Weighted Average Common Shares Outstanding |   |                          |        |   |                          |   |       |                                     |   |   |                                                         |   |   |   |   |   |   |   |   |   |
| Basic                                      |   |                          | 169,180,083 |   |                          |   | 79,251,547 |                                     |   |   | 137,054,208                                                  |   |   |   | 70,497,931 |   |   |   |   |   |
| Diluted                                    |   |                          | 169,180,083 |   |                          |   | 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   |                  |   |   | -                          |   |   |            | 51,670  |   |   |   | - |   |   |   | 154,070 |   |
| Common Stock Issued for Satisfaction of Convertible Note Payable |   |   | 78,911,092  |   |        |   | 789,111   |                  |   |   |                       |   |   |            | (51,670 | )      |   |   | (685,491 | ) |   |   | 51,950 |   |
| Net Loss                                                         |   |   | -           |   |        |   | -         |                  |   |   | -                          |   |   |            | -       |   |   |   | (306,403 | ) |   |   | (306,403 | ) |
| Balance at December 31, 2010 – Unaudited                   |   |   | 194,266,836 |   |        | $      | 1,942,668 |                  |   | $      | (250,000                   | )      |   | $               | -       |   |   | $      | (2,085,221 | ) |   | $ | (392,553 | ) |

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|                                                            |   | Nine Months Ended December 31, 2010 |     |   | Period from the Date of Inception to December 31, 2009 |   |       | Period from the Date of Inception to December 31, 2010 |   |
|-----------------------------------------------------------------|--------|-------------------------------------|----------|--------|--------------------------------------------------------|--------|------------|--------------------------------------------------------|--------|
| Cash Flows from Operating Activities                            |   |                                |     |   |                                                   |   |       |                                                   |   |
| Net Loss                                                        |   | $                                   | (306,403 | )      |                                                   | $      | (1,038,050 | )                                                      |   | $ | (1,375,195 | ) |
| NON-CASH ADJUSTMENTS                                            |   |                                |     |   |                                                   |   |       |                                                   |   |   |   |   |
| Common Stock Issued in Exchange for Services                    |   |                                | 104,370  |   |                                                   |   | 240,000    |                                                   |   |   | 344,370 |   |
| 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                                |   | $                                   | 154,070  |   |                                                   | $      | 240,000    |                                                   |   | $ | 394,070 |   |
| 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         |
|--------|--------------------------------------------------|
|   |                                             |
| 10.2   | Convertible Note dated September 17, 2010        |
|   |                                             |
| 31.1   | Rule 13a-14(a) Certification – CEO and CFO |
|   |                                             |
| 32     | Rule 13a-14(b) Certification                     |

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|                    | INOLIFE TECHNOLOGIES, INC. |                                   |
|-------------------------|----------------------------|----------------------------------------|
|                    |                       |                                   |   |
| Date: February 14, 2011 | By:                        | /s/ Gary Berthold                 |   |
|                    |                       | Gary Berthold, Chief Executive Officer |   |

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