UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
DC 20549





FORM
10-Q




x
            Quarterly
      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934


For the
quarterly period ended: June 30, 2010




o
            Transition
      Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934


For the
transition period from ________ to _________




Commission
File Number: 000-51388





CONO
ITALIANO, INC.


(Exact
Name of Registrant as Specified in its Charter)





Nevada
            84-1665042(State
      or Other Jurisdiction of
            (IRS
      Employer IdentificationIncorporation
      or Organization)
            Number)





10
Main Street


Keyport, NJ
07735


(Address
of Principal Executive Offices)





877-330-2666


(Registrant
Telephone Number, Including Area Code)





N/A


(Former
Name, Former Address and Former Fiscal Year,


If
Changed Since Last Report)





Indicate
by check mark whether the registrant: (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.


Yes 
x No o




Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this
chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).  Yes 
o No o





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):




Large
      Accelerated Filer
            o
            Accelerated
      Filer
            oAccelerated
      Filer
            o
            Smaller
      Reporting Company
            x





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).


Yes 
o No x





Indicate
the number of shares outstanding of each of the issuer’s classes of common
stock, as of the latest practicable date: The Issuer had 81,880,988 shares of
Common Stock, par value $.001, outstanding as of August 13,
2010.













TABLE OF CONTENTS




PART
      I: FINANCIAL INFORMATIONItem
      1: Financial Statements
              
              F-1Item
      2: Management’s Discussion and Analysis of Financial Condition and Results
      of Operations
              
              4Item
      3: Quantitative and Qualitative Disclosures About Market
    Risk
              
              8Item
      4: Controls and Procedures
              
              9PART
      II: OTHER INFORMATIONItem
      1: Legal Proceedings
              
              10Item
      1A: Risk Factors
              
              10Item
      2: Unregistered Sales of Equity Securities and Use of
    Proceeds
              
              10Item
      3: Defaults Upon Senior Securities
              
              10Item
      4: Reserved
              
              10Item
      5: Other Information
              
              10Item
      6: Exhibits
              
              11SIGNATURES
              
              12




2








SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS





This
Report on Form 10-Q (this “Report”) includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. Forward-looking statements include statements concerning our plans,
objectives, goals, strategies, future events, future revenues or performance,
capital expenditures, financing needs and other information that is not
historical information and, in particular, appear in the section entitled
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and elsewhere in this Report. When used in this Report, the words
“estimates,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,”
“believes,” “seeks,” “may,” “will,” “should” and variations of these words or
similar expressions (or the negative versions of any these words) are intended
to identify forward-looking statements. However, as we issue “penny stock,” as
such term is defined in Rule 3a51-1 promulgated under the Exchange Act, we are
ineligible to rely on these safe harbor provisions. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of our Company
to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. All forward-looking
statements, including, without limitation, management’s examination of
historical operating trends, are based upon our current expectations and various
assumptions. Our expectations, beliefs and projections are expressed in good
faith and we believe there is a reasonable basis for them.





There are
a number of risks and uncertainties that could cause our actual results to
differ materially from the results referred to in the forward-looking statements
contained in this Report. Important factors outside the scope of our control
could cause our actual results to differ materially from the results referred to
in the forward-looking statements we make in this Report. Without limiting the
foregoing, if we are unable to acquire approvals or consents from third parties
or governmental authorities with respect to our new business model, our plans to
commence our new business may become irrevocably impaired.





All
forward-looking statements included herein are expressly qualified in their
entirety by the cautionary statements contained or referred to in this Report.
Except to the extent required by applicable laws and regulations, the Company
undertakes no obligation to update these forward-looking statements to reflect
events or circumstances after the date of this Report or to reflect the
occurrence of unanticipated events.





Unless
otherwise provided in this Report, references to the “Company,” the
“Registrant,” the “Issuer,” “we,” “us,” and “our” refer to Cono Italiano,
Inc.





3





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey




FINANCIAL
REPORTS


AT


JUNE 30,
2010







TABLE OF
CONTENTS








Consolidated
      Balance Sheets at June 30, 2010 (Unaudited) and December 31,
      2009
              F-2Consolidated
      Statements Of Changes In Stockholders’ Deficit for thePeriod
      from Date of Inception (March 2, 2006) Through June 30, 2010(Unaudited)
              F-3Consolidated
      Statements of Operations for the Three and Six Months EndedJune
      30, 2010 and 2009 and for the Period from Inception (March 2, 2006)through
      June 30, 2010 (Unaudited)
              F-4Consolidated
      Statements of Cash Flows for the Six Months EndedJune
      30, 2010 and 2009 and for the Period from Inception (March 2, 2006)through
      June 30, 2010
      (Unaudited)
              F-5Notes
      to Consolidated Financial Statements
              F-6
      to F-16





F-1




CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





CONSOLIDATED
BALANCE SHEETS







(Unaudited)June
      30,
                          
                          
                          December
      31,2010
                          
                          
                          2009ASSETSCash
      and Cash Equivalents
                          
                          $
                          —
                          
                          
                          $
                          10,658Due
      from Related Party
                          
                          
                          133,938
                          
                          
                          
                          133,938Prepaid
      Expenses
                          
                          
                          20,048
                          
                          
                          
                          20,048Total
      Current Assets
                          
                          
                          153,986
                          
                          
                          
                          164,644Property
      and Equipment - Net of Accumulated Depreciation
                          
                          
                          16,315
                          
                          
                          
                          20,393Other
      AssetsLicensing
      Rights - Net of Accumulated Amortization
                          
                          
                          133,755
                          
                          
                          
                          137,004Total
      Assets
                          
                          $
                          304,056
                          
                          
                          $
                          322,041LIABILITIES
      AND STOCKHOLDERS' DEFICITLiabilitiesBank
      Overdraft
                          
                          $
                          1,958
                          
                          
                          $
                          —Accounts
      Payable
                          
                          
                          197,672
                          
                          
                          
                          199,427Accrued
      Expenses
                          
                          
                          77,100
                          
                          
                          
                          39,400Accrued
      Legal Expense
                          
                          
                          77,520
                          
                          
                          
                          63,360Accrued
      Interest
                          
                          
                          42,150
                          
                          
                          
                          36,182Deferred
      Revenue
                          
                          
                          10,109
                          
                          
                          
                          10,109Notes
      Payable
                          
                          
                          52,518
                          
                          
                          
                          231,987Due
      to Officer
                          
                          
                          648,266
                          
                          
                          
                          624,366Total
      Current Liabilities
                          
                          
                          1,107,293
                          
                          
                          
                          1,204,831Other
      LiabilitiesDeferred
      Revenue
                          
                          
                          70,762
                          
                          
                          
                          75,816Total
      Liabilities
                          
                          
                          1,178,055
                          
                          
                          
                          1,280,647Stockholders'
      DeficitCommon
      Stock - $.001 Par; 100,000,000 Shares Authorized,81,880,988
      and 79,880,988 Shares Issued and Outstanding
                          
                          
                          81,881
                          
                          
                          
                          79,881Additional
      Paid-In-Capital
                          
                          
                          561,470
                          
                          
                          
                          378,923Deficit
      Accumulated During Development Stage
                          
                          
                          (1,517,350
                          )
                          
                          
                          (1,417,410
                          )Total
      Stockholders' Deficit
                          
                          
                          (873,999
                          )
                          
                          
                          (958,606
                          )Total
      Liabilities and Stockholders' Deficit
                          
                          $
                          304,056
                          
                          
                          $
                          322,041





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





F-2





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Long
Branch, New Jersey





CONSOLIDATED
STATEMENTS OF CHANGES IN DEFICIT FOR THE PERIOD FROM DATE OF INCEPTION (MARCH 2,
2006) THROUGH JUNE 30, 2010





DeficitCommon
      Stock
                                            
                                            
                                            Additional
                                            
                                            
                                            Accumulated
                                            
                                            
                                            Total$
      .001 Par
                                            
                                            
                                            Paid-In
                                            
                                            
                                            During
                                            
                                            
                                            Stockholders'Shares
                                            
                                            
                                            Amount
                                            
                                            
                                            Capital
                                            
                                            
                                            Development
      Stage
                                            
                                            
                                            DeficitBalance
      - March 2, 2006
                                            
                                            
                                            —
                                            
                                            
                                            $
                                            —
                                            
                                            
                                            $
                                            —
                                            
                                            
                                            $
                                            —
                                            
                                            
                                            $
                                            —Common
      Stock Issued for Contribution of License Rightsand Equipment
      (1)
                                            
                                            
                                            6,000,000
                                            
                                            
                                            
                                            6,000
                                            
                                            
                                            
                                            159,000
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            165,000Net
      Loss
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —Balance
      - December 31, 2006 (1)
                                            
                                            
                                            6,000,000
                                            
                                            
                                            
                                            6,000
                                            
                                            
                                            
                                            159,000
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            165,000Net
      Loss
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (50,290
                                            )
                                            
                                            
                                            (50,290
                                            )Balance
      - December 31, 2007
                                            
                                            
                                            6,000,000
                                            
                                            
                                            
                                            6,000
                                            
                                            
                                            
                                            159,000
                                            
                                            
                                            
                                            (50,290
                                            )
                                            
                                            
                                            114,710Additional
      Paid-In-Capital - Deemed Distribution
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (312,000
                                            )
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (312,000
                                            )Common
      Stock Issued to Prior Owners
                                            
                                            
                                            3,000,000
                                            
                                            
                                            
                                            3,000
                                            
                                            
                                            
                                            54,000
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            57,000Common
      Stock Issued in Exchange for Services
                                            
                                            
                                            44,250,000
                                            
                                            
                                            
                                            44,250
                                            
                                            
                                            
                                            434,494
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            478,744Net
      Loss
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (929,795
                                            )
                                            
                                            
                                            (929,795
                                            )Balance
      - December 31, 2008
                                            
                                            
                                            53,250,000
                                            
                                            
                                            
                                            53,250
                                            
                                            
                                            
                                            335,494
                                            
                                            
                                            
                                            (980,085
                                            )
                                            
                                            
                                            (591,341
                                            )Common
      Stock Issued in Exchange for Services
                                            
                                            
                                            7,616,428
                                            
                                            
                                            
                                            7,616
                                            
                                            
                                            
                                            178,777
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            186,393Common
      Stock Issued for Cash
                                            
                                            
                                            262,000
                                            
                                            
                                            
                                            262
                                            
                                            
                                            
                                            64,608
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            64,870Common
      Stock Issued for Related Party Expense
                                            
                                            
                                            500,000
                                            
                                            
                                            
                                            500
                                            
                                            
                                            
                                            69,500
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            70,000Acquisition
      of Shell (1)
                                            
                                            
                                            242,560
                                            
                                            
                                            
                                            243
                                            
                                            
                                            
                                            (272,946
                                            )
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (272,703
                                            )Common
      Stock Issued to Relieve Accounts Payable
                                            
                                            
                                            10,000
                                            
                                            
                                            
                                            10
                                            
                                            
                                            
                                            3,490
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            3,500Common
      Stock Issued for Note Payable Conversion
                                            
                                            
                                            18,000,000
                                            
                                            
                                            
                                            18,000
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            18,000Net
      Loss
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (437,325
                                            )
                                            
                                            
                                            (437,325
                                            )Balance
      - December 31, 2009
                                            
                                            
                                            79,880,988
                                            
                                            
                                            
                                            79,881
                                            
                                            
                                            
                                            378,923
                                            
                                            
                                            
                                            (1,417,410
                                            )
                                            
                                            
                                            (958,606
                                            )Common
      Stock Issued for Note Payable Conversion
                                            
                                            
                                            2,000,000
                                            
                                            
                                            
                                            2,000
                                            
                                            
                                            
                                            182,547
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            184,547Net
      Loss for the Period
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            —
                                            
                                            
                                            
                                            (99,940
                                            )
                                            
                                            
                                            (99,940
                                            )Balance
      - June 30, 2010
                                            
                                            
                                            81,880,988
                                            
                                            
                                            $
                                            81,881
                                            
                                            
                                            $
                                            561,470
                                            
                                            
                                            $
                                            (1,517,350
                                            )
                                            
                                            $
                                            (873,999
                                            )




(1)
            The
      stockholders equity of Cono Italiano, Inc. has been recapitalized to give
      effect to the shares received by the existing shareholders of Cono
      Italiano, Inc. from the share exchange agreement with Tiger Renewable
      Energy Inc.




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




F-3





CONO ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





CONSOLIDATED
STATEMENTS OF OPERATIONS - UNAUDITED





Period
      FromDate
      of InceptionFor
      the Three Months Ended
                                    
                                    
                                    For
      the Six Months Ended
                                    
                                    
                                    (March
      2, 2006)June
      30,
                                    
                                    
                                    June
      30,
                                    
                                    
                                    June
      30,
                                    
                                    
                                    June
      30,
                                    
                                    
                                    Through2010
                                    
                                    
                                    2009
                                    
                                    
                                    2010
                                    
                                    
                                    2009
                                    
                                    
                                    June
      30, 2010Sales
                                    
                                    $
                                    2,527
                                    
                                    
                                    $
                                    5,054
                                    
                                    
                                    $
                                    5,054
                                    
                                    
                                    $
                                    5,054
                                    
                                    
                                    $
                                    28,939Cost
      of Sales
                                    
                                    
                                    —
                                    
                                    
                                    
                                    1,202
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    1,524
                                    
                                    
                                    
                                    9,123Gross
      Profit
                                    
                                    
                                    2,527
                                    
                                    
                                    
                                    3,852
                                    
                                    
                                    
                                    5,054
                                    
                                    
                                    
                                    3,530
                                    
                                    
                                    
                                    19,816ExpensesSelling
      and Direct
                                    
                                    
                                    —
                                    
                                    
                                    
                                    1,856
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    1,856
                                    
                                    
                                    
                                    170,366Compensation
      Expense
                                    
                                    
                                    —
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    420,005General
      and Administrative
                                    
                                    
                                    50,734
                                    
                                    
                                    
                                    24,787
                                    
                                    
                                    
                                    93,949
                                    
                                    
                                    
                                    60,852
                                    
                                    
                                    
                                    900,769Interest
      Expense
                                    
                                    
                                    5,602
                                    
                                    
                                    
                                    3,903
                                    
                                    
                                    
                                    11,045
                                    
                                    
                                    
                                    6,657
                                    
                                    
                                    
                                    49,226Gain
      on Sale of Assets
                                    
                                    
                                    —
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    —
                                    
                                    
                                    
                                    (3,200
                                    )Total
      Expenses
                                    
                                    
                                    56,336
                                    
                                    
                                    
                                    30,546
                                    
                                    
                                    
                                    104,994
                                    
                                    
                                    
                                    69,365
                                    
                                    
                                    
                                    1,537,166Net
      Loss for the Period
                                    
                                    $
                                    (53,809
                                    )
                                    
                                    $
                                    (26,694
                                    )
                                    
                                    $
                                    (99,940
                                    )
                                    
                                    $
                                    (65,835
                                    )
                                    
                                    $
                                    (1,517,350
                                    )Loss
      per Share - Basic and Diluted
                                    
                                    $
                                    (0.00
                                    )
                                    
                                    $
                                    (0.00
                                    )
                                    
                                    $
                                    (0.00
                                    )
                                    
                                    $
                                    (0.00
                                    )
                                    
                                    $
                                    (0.04
                                    )Weighted
      Average Common Shares Outstanding
                                    
                                    
                                    81,880,988
                                    
                                    
                                    
                                    53,950,000
                                    
                                    
                                    
                                    81,759,441
                                    
                                    
                                    
                                    53,877,072
                                    
                                    
                                    
                                    34,143,264





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




F-4





CONO ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





CONSOLIDATED
STATEMENTS OF CASH FLOWS - UNAUDITED





Period FromDate of Inception(March 2, 2006)ThroughFor the Six Months Ended June 30,
                                                
                                                2010
                                                
                                                
                                                2009
                                                
                                                
                                                June 30, 2010Cash
      Flows from Operating ActivitiesNet
      Loss for the Period
                                                
                                                $
                                                (99,940
                                                )
                                                
                                                $
                                                (65,835
                                                )
                                                
                                                $
                                                (1,517,350
                                                )Adjustments
      to Reconcile Net Loss toNet
      Cash Flows from Operating Activities:Amortization
                                                
                                                
                                                3,249
                                                
                                                
                                                
                                                3,249
                                                
                                                
                                                
                                                16,245Depreciation
                                                
                                                
                                                4,078
                                                
                                                
                                                
                                                7,294
                                                
                                                
                                                
                                                33,685Common
      Stock Issued in Exchange for Services
                                                
                                                
                                                —
                                                
                                                
                                                
                                                3,269
                                                
                                                
                                                
                                                649,704Expense
      to Prior Owners
                                                
                                                
                                                —
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                257,000Gain
      on Sale of Assets
                                                
                                                
                                                —
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                (3,200
                                                )Changes
      in Assets and Liabilities:Prepaid
      Expenses
                                                
                                                
                                                —
                                                
                                                
                                                
                                                (7,500
                                                )
                                                
                                                
                                                (4,615
                                                )Accounts
      Payable
                                                
                                                
                                                (1,755
                                                )
                                                
                                                
                                                —
                                                
                                                
                                                
                                                (24,458
                                                )Accrued
      Expenses
                                                
                                                
                                                37,700
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                77,100Accrued
      Legal Expense
                                                
                                                
                                                14,160
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                77,520Accrued
      Interest
                                                
                                                
                                                11,046
                                                
                                                
                                                
                                                6,657
                                                
                                                
                                                
                                                49,228Deferred
      Revenue
                                                
                                                
                                                (5,054
                                                )
                                                
                                                
                                                44,945
                                                
                                                
                                                
                                                80,871Net
      Cash Flows from Operating Activities
                                                
                                                
                                                (36,516
                                                )
                                                
                                                
                                                (7,921
                                                )
                                                
                                                
                                                (308,270
                                                )Net
      Cash Flows from Investing ActivitiesProceeds
      from Sale of Asset
                                                
                                                
                                                —
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                5,000Acquisition
      of Cash in Reorganization
                                                
                                                
                                                —
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                916Purchase
      of Property and Equipment
                                                
                                                
                                                —
                                                
                                                
                                                
                                                (625
                                                )
                                                
                                                
                                                (36,802
                                                )Net
      Cash Flows from Investing Activities
                                                
                                                
                                                —
                                                
                                                
                                                
                                                (625
                                                )
                                                
                                                
                                                (30,886
                                                )Cash
      Flows from Financing ActivitiesBank
      Overdraft
                                                
                                                
                                                1,958
                                                
                                                
                                                
                                                —
                                                
                                                
                                                
                                                1,958Cash
      Proceeds from Sale of Stock
                                                
                                                
                                                —
                                                
                                                
                                                
                                                25,000
                                                
                                                
                                                
                                                64,870Cash
      Advance to Related Party
                                                
                                                
                                                —
                                                
                                                
                                                
                                                (18,500
                                                )
                                                
                                                
                                                (63,938
                                                )Due
      to Officer
                                                
                                                
                                                23,900
                                                
                                                
                                                
                                                47,822
                                                
                                                
                                                
                                                336,266Net
      Cash Flows from Financing Activities
                                                
                                                
                                                25,858
                                                
                                                
                                                
                                                54,322
                                                
                                                
                                                
                                                339,156Net
      Change in Cash and Cash Equivalents
                                                
                                                
                                                (10,658
                                                )
                                                
                                                
                                                45,776
                                                
                                                
                                                
                                                —Cash
      and Cash Equivalents - Beginning of Period
                                                
                                                
                                                10,658
                                                
                                                
                                                
                                                724
                                                
                                                
                                                
                                                —Cash
      and Cash Equivalents - End of Period
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                46,500
                                                
                                                
                                                $
                                                —Supplemental
      Non-Cash Investing and Financing Activities:Acquisition
      of Accounts Payable in Reorganization
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                210,132Acquisition
      of Notes Payable in Reorganization
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                47,988Deemed
      Distribution
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                312,000Common
      Stock Issued for Prepaid Expenses
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                15,433Common
      Stock Issued to Relieve Accounts Payable
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                3,500Common
      Stock Issued to Relieve Note Payable
                                                
                                                $
                                                184,547
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                202,547Common
      Stock Issued for Related Party Payable
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                70,000
                                                
                                                
                                                $
                                                70,000Cash
      Paid During the Period for:Interest
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —Income
      Taxes
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —
                                                
                                                
                                                $
                                                —





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




F-5




CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS


Note
      A -
            The
      Company


Merger
      and Recapitalization


The
Company was incorporated in the State of Nevada on September 9, 2004, as Arch
Management Services Inc.  A change of control of the Company occurred
on June 5, 2006 and the Company changed its name form “Arch Management Services
Inc.” to “Tiger Ethanol International Inc.” on November 24, 2006.  On
February 11, 2008 the Company changed its name to “Tiger Renewable Energy
Ltd.”  Another change of control of the Company occurred on June 4,
2009.  On August 10, 2009 the Company changed its name to “Cono
Italiano, Inc.” and its symbol changed to CNOZ.





The
Company was previously party to a joint venture named Xinjiang Yajia Distillate
Company Limited (the “Venture”) to produce ethanol in the People’s Republic of
China.  The Company’s board of directors determined that it was in the
Company’s best interest to initiate a withdrawal from the ethanol business as of
January 31, 2009 and assess alternative businesses.





On June
4, 2009 an Affiliate Stock Purchase Agreement (the “Stock Purchase Agreement”)
was entered into by and between Gallant Energy International Inc. (“Gallant”),
the owner of 5,000,000 shares of the Company’s common stock (prior to the
Company’s one for sixty reverse stock split) and Lara Mac Inc. (“Lara Mac”), an
entity controlled by Mitchell Brown (now the Chief Executive Officer of the
Company and a member of the Company’s Board of Directors).  Pursuant
to the Stock Purchase Agreement, Gallant sold all of its 5,000,000 shares of the
Company’s common stock to Lara Mac.  The Gallant transaction with Lara
Mac resulted in a change in control of the largest voting block of the Company
effective as of June 4, 2009.





On August
10, 2009, the Company conducted a one for sixty reverse stock
split.  As of that date, all of the existing outstanding common stock
of the Company have been consolidated such that existing stockholders will hold
one share of post-split common stock for every sixty shares owned prior to the
reverse split.  All fractional shares resulting from the reverse stock
split have been rounded up to the next whole share.





Janex
International Inc. was formed on July 6, 2007, in the State of
Delaware.   On January 8, 2008 Janex International Inc., changed
its name to Cono Italiano, Inc (Delaware).





Cono
Italiano, LLC (Cono, LLC) was formed on June 27, 2007 as a limited liability
company in the State of New Jersey.  Cono, LLC had no operations and
its primary assets were the license rights to manufacture, market, and
distribute “pizza cono”, a unique pizza style food product.





-
      continued -





F-6





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      A -
            The
      Company - continued


Merger
and Recapitalization


In March
2007, the license rights held by the individual founders of Cono, LLC were sold
to The Total Luxury Group (TLG), an unrelated entity.  Subsequently,
on January 8, 2008 the license rights were transferred to Mitchell Brown for the
total consideration of $312,000.  The transfer of Cono, LLC (which
includes the license rights) was effected in settlement of an obligation due to
Mitchell Brown by TLG.





On
January 14, 2008, Cono, LLC was sold to Cono, Inc. (Delaware) for the total
consideration of $426,000.  In exchange for the 100% interest in Cono,
LLC, the sole member of the LLC received 6,000,000 shares of Cono, Inc.
(Delaware) valued at $114,000 and was issued a promissory note for
$312,000.  Mitchell Brown is also a principal stockholder in Cono,
Inc. (Delaware).





The
transaction was accounted for as a recapitalization of Cono, Inc. and Cono, LLC;
as both companies were under common control.  As such, the assets and
liabilities of Cono, LLC were carried over to Cono, Inc. (Delaware) at the
historical carrying values.





At the
time of the sale of Cono, LLC to Cono, Inc. (Delaware), Cono LLC had a tangible
net book value of $114,700. Since the assets and liabilities of Cono, LLC were
recorded at their historical carrying amounts after the merger and
recapitalization, the excess of the consideration paid of $426,000 over the
carrying value of $114,700 had been recorded as a distribution to the
stockholder.





On
November 12, 2009 Cono Inc. (Delaware) entered into a share exchange agreement
whereby Cono Inc. (Delaware) would exchange all of its common stock for the
stock of Tiger Renewable Energy,Ltd. (TRE) (a shell company) on a share for
share basis. Prior to entering into the share exchange agreement, the principal
stockholder of Cono Inc. (Delaware) became a stockholder of TRE, either through
direct ownership or through an entity in which he controlled, effectively
gaining control of TRE, and on August 10, 2009, TRE changed its name to Cono
Italiano, Inc., a Nevada corporation.   As an inducement for Cono
(Delaware) to enter the share exchange agreement, TRE’s largest shareholder has
agreed to the cancellation of 242,557 shares of Cono (Nevada)
stock.





The
exchange of shares between Cono Italiano, Inc., (Delaware) and Cono Italiano,
Inc., (Nevada) was accounted for as a recapitalization of the Companies, as the
majority stockholder of Cono Italiano, Inc. is the majority stockholder of the
surviving company.  Pursuant to the accounting for a recapitalization,
the historical carrying value of the assets and liabilities of Cono Italiano,
Inc. (Nevada) carried over to the surviving company.





Effective
at the closing of the share exchange transactions, November 12, 2009, Cono
(Delaware) became a wholly owned subsidiary of Cono (Nevada).





-
      continued -





F-7





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      A -
            The
      Company - continued


Scope
of Business


The
Company is licensed to distribute an innovative food product - a cone-shaped
pizza called "Pizza Cono."  The product will be distributed into fast
food market establishments which include typical fast food chains, supermarkets,
convenience stores, entertainment facilities, and sports arenas.  The
Company’s focus will be the sale and management of licensing and distribution
agreements with customers.





Note
      B -
            Summary
      of Significant Accounting Policies


Basis
of Presentation


The
condensed consolidated financial statements of Cono Italiano, Inc. (the
“Company”) included herein have been prepared by the Company, without audit,
pursuant to the rules and regulations of the Securities and Exchange Commission
(the “SEC”).  Certain information and footnote disclosures normally
included in financial statements prepared in conjunction with generally accepted
accounting principles have been condensed or omitted pursuant to such rules and
regulations, although the Company believes that the disclosures are adequate to
make the information presented not misleading. These condensed consolidated
financial statements should be read in conjunction with the annual audited
financial statements and the notes thereto included in the Company’s
registration statement on Form 10-K, and other reports filed with the
SEC.





The
accompanying unaudited interim financial statements reflect all adjustments of a
normal and recurring nature which are, in the opinion of management, necessary
to present fairly the financial position, results of operations and cash flows
of the Company for the interim periods presented.  The results of
operations for these periods are not necessarily comparable to, or indicative
of, results of any other interim period or for the fiscal year taken as a
whole.  Certain information that is not required for interim financial
reporting purposes has been omitted.





Principles
of Consolidation


The
consolidated financial statements include the accounts of Cono Italiano, Inc.
(Nevada) and its wholly owned subsidiary, Cono Italiano, Inc. (Delaware) (the
“Company”).  All significant intercompany balances have been
eliminated in consolidation.





Method
of Accounting


The
Company maintains its books and prepares its financial statements on the accrual
basis of accounting.





-
      continued -





F-8





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      B -
            Summary
      of Significant Accounting Policies –
continued


Development
Stage


The
Company has operated as a development stage enterprise since its inception by
devoting substantially all of its efforts to financial planning, raising
capital, research and development, and developing markets for its
services.  The Company prepares its financial statements in accordance
with the requirements of FASB ASC 915, “Development Stage
Entities.”





Earnings
per Share


Earnings
per share of common stock are computed in accordance with FASB ASC 260,
“Earnings per Share”.  Basic earnings per share are computed by
dividing income or loss available to common shareholders by the weighted-average
number of common shares outstanding for each period.  Diluted earnings
per share are calculated by adjusting the weighted average number of shares
outstanding assuming conversion of all potentially dilutive stock options,
warrants and convertible securities, if dilutive. Common stock equivalents that
are anti-dilutive are excluded from both diluted weighted average number of
common shares outstanding and diluted earnings per share.





Use
of Estimates


The
preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting
period.  Actual results could differ from those
estimates.





Fair
value of financial instruments


Prepaid
expenses, accrued expenses, notes payable, and amounts due to and from related
parties are carried in the financial statements at amounts which approximate
fair value.





Stock-Based
Compensation


Stock-based
compensation related to non-employees is recognized based on service provided in
the accompanying statements of operations and is based on the fair value of the
services received or the fair value of the equity instruments issued, whichever
is more readily determinable. The Company’s accounting policy for equity
instruments issued to consultants and vendors in exchange for goods and services
follows the provisions of FASB ASC 505, “Equity Based Payments to
Non-Employees”. The measurement date for the fair value of the equity
instruments issued is determined at the earlier of (i) the date at which a
commitment for performance by the consultant or vendor is reached or (ii) the
date at which the consultant or vendor’s performance is complete. In the case of
equity instruments issued to consultants, the fair value of the equity
instrument is recognized over the term of the consulting agreement.





F-9





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      C -
            Recently
      Issued Accounting Standards


In June
2009, the FASB issued revised authoritative guidance related to variable
interest entities, which requires entities to perform a qualitative analysis to
determine whether a variable interest gives the entity a controlling financial
interest in a variable interest entity.  The guidance also requires an
ongoing reassessment of variable interests and eliminates the quantitative
approach previously required for determining whether an entity is the primary
beneficiary.  This guidance, which was reissued by the FASB in
December 2009 as ASU  No. 2009-17, “Improvements to Financial
Reporting by Enterprises Involved with Variable Interest Entities,” amends ASC
Topic 810, “Consolidation”, and was effective as of the beginning of an entity’s
first annual reporting period that begins after November 15, 2009 (January 1,
2010 for the Company).  The adoption of this guidance did not have a
significant impact on the consolidated financial statements.





In
January 2010, the FASB issued Accounting Standards Updated (ASU) No. 2010-06,
“Improving Disclosures about Fair Value Measurements,” which amends ASC 820,
“Fair Value Measures and Disclosures.”  ASU No. 2010-06 amends the ASC
to require disclosure of transfers into and out of Level 1 and Level 2 fair
value measurements, and also require more detailed disclosure about the activity
within Level 3 fair value measurements.  The changes to the ASC as a
result of this update were effective for annual and interim reporting periods
beginning after December 15, 2009 (January 1, 2010 for the Company), except for
the requirements related to Level 3 disclosures, which were effective for annual
and interim reporting periods beginning after December 15, 2010 (January 1, 2011
for the Company).  This guidance requires new disclosures only, and
will have no impact on the Company’s consolidated financial
statements.





F-10





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      D -
            Related
      Party Transactions


Due
from Related Party


On July
14, 2008, (the date of Edesia’s inception), the Company entered into an
operating agreement with Edesia Emprise, LLC to manufacture product for the
Company. The CEO of the Company owned 50% of Edesia until July 21, 2008 when he
transferred his interest to a relative. At the date of the transfer, Edesia had
no assets or business operations.





Due from
Related Party consists of monies advanced on behalf of Edesia Emprise,
LLC.





The
Company purchased manufacturing equipment on behalf of Edesia to be used by an
unrelated entity for the production of the pizza cones products. The
manufactured pizza cone products will be resold by Cono and its licensees.
Production of the pizza cones under the agreement began in
March 2009.





The
advances are non-interest bearing and is due upon demand.  Due from
related party consists of the following:





June 30,
                      
                      
                      December 31,2010
                      
                      
                      2009Edesia
      Emprise, LLC
                      
                      $
                      133,938
                      
                      
                      $
                      133,938





On
November 11, 2009, Cono Italiano (Delaware) and Edesia Emprise, LLC entered into
a Master Manufacturing Agreement.  Pursuant to this Master
Manufacturing Agreement, Edesia Emprise, LLC will produce the Company’s Pizza
Cono product.  Cono Italiano (Delaware) has agreed to pay Edesia
Emprise, LLC the costs of production plus fifteen percent (15%).  This
Master Manufacturing Agreement has a five (5) year term and will automatically
renew unless cancelled by one of the parties pursuant to its
terms.  This Master Manufacturing Agreement is exclusive within the
United States.  Edesia Emprise, LLC may either produce this product
directly or through a subcontractor.





Edesia
Emprise, LLC has advised Cono Italiano (Delaware) that it has entered into its
first subcontract agreement.  Sunrise Bakery, located in Brooklyn, New
York, will produce the cones for the Pizza Cono product on behalf of Edesia
Emprise, LLC





Due
to Officer


Certain
disbursements of the Company have been paid by an officer of the
Company.  The balance at June 30, 2010 and December 31, 2009 was
$648,266 and $624,366, respectively.  There are no established
repayment terms.  For the periods ended June 30, 2010 and December 31,
2009, the Company has imputed interest at the applicable federal rate of 2.69%
and 2.64%, respectively. Accrued interest was $42,150 and $33,939, at June 30,
2010 and December 31, 2009, respectively.





F-11





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      E -
            Notes
      Payable


In
January, 2008, Cono Inc. (Delaware) issued 3,000,000 shares of common stock to
the former owners of the license rights of the Pizza Cono
Products.  The shares were issued by agreement between Cono, Inc.
(Delaware) and the former owners in satisfaction of any future claims whether
known or unknown with regards to the license rights.  In addition to
the shares issued, the Company also issued a note payable to the MEGK Group LLC
(the former owners) in the amount of $200,000 on December 28, 2007. Interest
accrued at 8% per annum, and the note was due in full on December 28,
2008.  This note was also convertible automatically upon the sale of
all or substantially all of the assets of the Company or the merger,
consolidation or liquidation of the Company where the Company would not remain
in control of the new company.  The note could also be converted at
option of the holder.  Common stock issued upon conversion would be
calculated by dividing the principal amount of the note to be converted divided
by $.001.  On November 1, 2009, MEGK assigned its rights to this note
payable to Azure Seas Ltd.





On
December 16, 2009, Azure renegotiated the original convertible promissory note,
waived all past due interest on the note through November 1, 2009, and assigned
$18,000 of the note to various holders.  Prior to December 31, 2009,
those holders converted their notes payable of $18,000 to 18,000,000 shares
common stock.  At December 31, 2009 note payable to Azure was
$182,000.  On January 11, 2010, Azure converted their note payable of
$182,000 and accrued interest of $2,547 to 2,000,000 shares common
stock.





.
            The
      Company also has a note payable to DT Crystal Limited accruing interest at
      10% annually which is due upon demand.  The note is convertible
      at the option of the holder into restricted stock of Cono
      (Nevada).  At June 30, 2010 and December 31, 2009 and 2008 note
      payable to DT Crystal was $52,518 and $49,987,
      respectively.  Interest expense for the six months ended June
      30, 2010 and 2009 was $2,531 and $-0-,
  respectively.





Note
      F -
            Going
      Concern


The
      Company’s financial statements have been presented on the basis that it is
      a going concern, which contemplates the realization of assets and the
      satisfaction of liabilities in the normal course of business. The Company
      has reported recurring losses from operations.  As a result,
      there is an accumulated deficit of $1,517,350 at June 30,
      2010.





.
            The
      Company’s continued existence is dependent upon its ability to raise
      capital.  The financial statements do not include any
      adjustments that might be necessary should the Company be unable to
      continue as a going concern.





F-12





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note G –
            Employment
      Contracts


On
December 30, 2009 the Company entered into employment agreements with each of
the officers serving the Company.  The employment agreements contained
the following provisions: (i) two-year terms with automatic renewal provisions
unless notice is given by either party 30 days prior to renewal; (ii) commitment
of a substantial portion of their professional time to the Company, consisting
of 75% of their time for Mitchell Brown and 60% of their time for each of Joseph
Masselli, Alex Kaminski and Steve Savage; and (iii) and additional customary
employment agreement terms and conditions.  The officers have agreed
that they will not receive any compensation for their services to the Company
prior to January 1, 2012.  The compensation of the officers has been
set as follows:





AnnualOfficer
                          
                          SalaryMitchell
      Brown, Chief Executive Officer
                          
                          $
                          125,000Joseph
      Masselli, President and Chief Operating Officer
                          
                          $
                          75.000Alex
      Kaminski, Chief Financial Officer and Treasurer
                          
                          $
                          50.000Steve
      Savage, Secretary
                          
                          $
                          50.000





It has
also been agreed by the Company, Mr. Smith, a director, and Mr. Kaminski that
pursuant to separate stock option agreements, Mr. Smith will be granted options
to purchase 2,000,000 shares of the Company’s common stock at $.01 per share and
Mr. Kaminski will be granted options to purchase 1,500,000 shares of the
Company’s common stock at $.01 per share.  These options will vest in
one year and will expire in three years. These options have not been approved by
the Board.





Note H –
            Stock
      Based Compensation Expense


On
October 5, 2006, the Company’s Board of Directors adopted the Company’s 2006
Equity Incentive Plan, which authorizes the Company to issue options for the
purchase of up to 2,000,000 shares of the Company’s common stock, pursuant to
the terms and conditions set forth therein.  The Equity Incentive Plan
authorizes the issuance of incentive stock options (ISQ) and non-qualified stock
options (NQOs) to the Company’s employees, directors or
consultants.





-
      continued -





F-13





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note H –
            Stock
      Based Compensation Expense –
continued


Options
outstanding at the date of acquisition were 336. All outstanding options were
fully vested and expensed prior to the acquisition.





Six Months EndedJune 30, 2010Number of
                                
                                
                                Weighted - AverageOptions
                                
                                Options
                                
                                
                                Exercise PriceBalance
      at Acquisition
                                
                                
                                336
                                
                                
                                $
                                120Granted
                                
                                
                                ––
                                
                                
                                
                                ––Exercised
                                
                                
                                ––
                                
                                
                                
                                ––Cancelled
                                
                                
                                ––
                                
                                
                                
                                ––Balance
      at June 30, 2010
                                
                                
                                336
                                
                                
                                $
                                120Options
      Exercisable at June 30, 2010
                                
                                
                                336
                                
                                
                                $
                                120





The
aggregate intrinsic value of the options outstanding and the options exercisable
on June 30, 2010 is $-0-.





The
following table summarizes information about options outstanding and exercisable
at June 30, 2010:





WeightedOptions
                              
                              
                              Average
                              
                              
                              OptionsOutstanding
                              
                              
                              Contractual Life
                              
                              
                              ExercisableExercise Price
                              
                              Number
                              
                              
                              (In Years)
                              
                              
                              Number$120
                              
                              
                              336
                              
                              
                              
                              1.35
                              
                              
                              
                              336





As of
June 30, 2010, there was no unrecognized compensation cost related to non-vested
stock options.




F-14





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS





Note
      I -
            Income
      Tax Compliance


The
Company is not in compliance with filing its required income tax
returns.  Since the Company has had continuous losses and has
available net operating losses, the Company believes that any tax liability
would not be material. Deferred taxes are provided for the temporary differences
between the financial reporting basis and the tax reporting basis of the
Company’s assets and liabilities.  The temporary differences between
financial reporting and income tax purposes are primarily net operating loss
carry forwards for income tax purposes. A valuation allowance is recorded for
deferred tax assets when management determines it is more likely than not, that
such assets, will not be realized.





A full
valuation allowance has been established against the deferred tax assets for the
six month periods ended June 30, 2010 and 2009 as utilization of the loss carry
forwards and realization of other deferred tax assets cannot be reasonably
assured.





Note J -
            Licensing
      Revenue


On July
9, 2008, (subsequently amended in October, 2009) the Company entered into a
Supplier/Distribution agreement with Pino Gelato, Inc., an unrelated
entity.  The agreement grants the exclusive manufacture and
distribution rights to Pino Gelato, Inc. for the production of pizza cono food
products for certain specified geographical territories.  The term of
the agreement is for ten (10) years with an automatic renewal for another ten
(10) years.  In addition, Pino Gelato, Inc. has the exclusive rights
to enter into franchise agreements with third parties to market and sell the
pizza cono food products.





In
exchange for the rights granted to Pino Gelato under the agreement, the Company
received total cash consideration of $100,000.





As an
inducement for Pino Gelato, Inc to buy the distribution and franchise rights,
the Company agreed to issue 375,000 shares of common stock to Pino upon receipt
of the first and final installment of the agreement.  Common stock
amounting to 250,000 shares was issued prior to the execution of the amendment
in October, 2009 with the remaining 125,000 shares to be issued upon receipt of
the final $25,000 cash payment from Pino. As of June 30, 2010, the final payment
has been received from Pino. The related 125,000 shares remain unissued and will
be issued upon request. The fair market value of the common stock issued in
connection with the installment payments made has been recorded as an offset to
the payments received under the agreement.  The payments received have
been recorded as deferred licensing revenue in the accompanying consolidated
financial statements.  The licensing revenue is being amortized to
revenue over the initial license term of ten (10) years.





The
Company is also entitled to ten (10) percent of all franchise revenue generated
by Pino Gelato.




F-15





CONO
ITALIANO, INC.


(FORMERLY
KNOWN AS TIGER RENEWABLE ENERGY, LTD.)


(A
DEVELOPMENT STAGE COMPANY)


(A
NEVADA CORPORATION)


Keyport,
New Jersey





NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS




Note K -
            Other
      Matters


On
November 6, 2009, Cono Italiano (Delaware) entered into a Commitment Letter,
pursuant to which, one of the Company’s shareholders, Lara Mac has agreed to
provide financing to Cono Italiano, Inc., with such funds as the Company’s Board
of Directors shall deem to be sufficient to maintain the Company’s ordinary
course of business operations (the “Commitment Amount”).  We may draw
on the Commitment Amount in monthly tranches in accordance with our operating
requirements as set forth in our business plan. The available Commitment
Amount will be reduced by the aggregate cash proceeds received by the Company
which are derived from the issuance of any equity securities and Company gross
revenues. Draws on the Commitment Amount will be made on terms of unsecured
notes, with interest set on each note as of the date of the draw at prime rate
plus two percent per annum. The notes will mature and become repayable thirty
calendar days after demand at any time following the earlier of (a) December 31,
2010 or (b) the date upon which we are in receipt of revenues or proceeds from
the sales of equity securities. We will give Lara Mac customary representations
and warranties regarding the good standing of our Company and status of progress
in respect of our Company business plan prior to each draw on the Commitment
Amount, and we will provide certifications and covenants regarding use of
proceeds of each draw, which will be in customary forms reasonably requested by
Lara Mac as determined by reference to similar lenders making similar loans to
similar companies. Lara Mac will not be required to make any loans under the
Commitment Amount to us if we are unable to make the representations,
warranties, certifications or covenants, or if we are in breach of any
previously given representations, warranties, certifications or covenants. If we
breach any of the notes, the default rate will be 15% per annum and Lara Mac may
seek recourse against our company for repayment of all of the notes. As of June
30, 2010, no funds have been borrowed.




F-16




Item
2: Management’s Discussion and Analysis of Financial Condition and Results of
Operations





The
following discussion of the financial condition and results of operations of the
Company should be read in conjunction with the financial statements and the
related notes thereto included elsewhere in this Report. This Report contains
certain forward-looking statements and the Company's future operating results
could differ materially from those discussed herein. Certain statements
contained in this Report, including, without limitation, statements containing
the words "believes", "anticipates," "expects" and the like, constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”). However, as the Company intends to issue “penny
stock,” as such term is defined in Rule 3a51-1 promulgated under the Exchange
Act, the Company is ineligible to rely on these safe harbor provisions. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Given
these uncertainties, readers are cautioned not to place undue reliance on such
forward-looking statements. The Company disclaims any obligation to update any
such factors or to announce publicly the results of any revisions of the
forward-looking statements contained or incorporated by reference herein to
reflect future events or developments.





Introduction





The
Company was incorporated in the State of Nevada on September 9, 2004 as Arch
Management Services Inc. A change of control of the Company occurred on June 5,
2006 and the Company changed its name from “Arch Management Services Inc.” to
“Tiger Ethanol International Inc.” on November 24, 2006. On February 11, 2008
the Company changed its name to “Tiger Renewable Energy Ltd.” Another change of
control of the Company occurred on June 4, 2009. On August 10, 2009, the Company
changed its name to “Cono Italiano, Inc.” and its symbol changed to
CNOZ.





Our
principal business address is 10 Main Street, Keyport, NJ 07735 and our
telephone number is 877-330-2666.





Our
Business





The
Company was previously involved in the production of ethanol from agricultural
products. The Company’s board of directors determined that it was in our best
interest to initiate a complete and total withdrawal from the ethanol business
as of January 31, 2009. The Company subsequently began seeking new business
opportunities.





We
identified Cono Italiano (Delaware) as a business venture that would be suitable
for future operation. On November 12, 2009, we entered into agreement with the
shareholders of Cono Italiano (Delaware) pursuant to which we acquired all of
the issued and outstanding shares of the Cono Italiano (Delaware) and we now
operate Cono Italiano (Delaware) as a wholly-owned subsidiary of our
Company.





Cono
Italiano (Delaware)





In March
2006 Cono Italiano LLC, a New Jersey limited liability company, entered into an
agreement with Kono Italia S.R. L., an Italian company doing business as “Pizza
Hands.” Kono Italia S.R.L owns the designs, recipes and technology for the
“Pizza Cono,” a food product for quick service restaurants consisting of a cone
shaped pizza dough. Cono Italiano (Delaware) (as the successor to Cono Italiano,
LLC) holds a distribution agreement for North America from Kono Pizza in Italy.
This distribution agreement grants the licensee an exclusive license to exploit
this product in the United States, Canada and Mexico for a twenty-five (25) year
term. The product is patented in the United States and Europe as is the cone
production machine which is proprietary. In 2007 Cono Italiano, LLC initially
introduced the product into the North American market by building an alliance
with Center Plate, a food service provider to stadiums and arenas throughout
North America. At the present time, Cono Italiano (Delaware) has no contractual
agreements with Center Plate.





4





Cono
Italiano (Delaware) was formed through the merger of Cono Italiano LLC, a New
Jersey limited liability company, and Janex International, Inc., a Delaware
corporation, in January, 2008. Cono Italiano (Delaware) was formed as Janex
International, Inc. on July 6, 2007 in the State of Delaware.  On January
8, 2008 Janex International Inc. changed its name to Cono Italiano, Inc. Cono
Italiano, LLC (Cono, LLC) was formed on June 27, 2007 as a limited liability
company in the State of New Jersey.  Cono, LLC had no operations and its
primary assets were the license rights to manufacture, market, and distribute
“pizza cono”, a unique pizza style food product. In March 2007, the license
rights held by the individual founders of Cono, LLC were sold to The Total
Luxury Group (“TLG”), an unrelated entity. Subsequently, on January 8, 2008 the
license rights were transferred to Mitchell Brown, our Company’s Chief Executive
Officer, for the total consideration of $312,000. The transfer of Cono, LLC
(which includes the license rights) was effected in settlement of an obligation
due to Mitchell Brown by TLG. On January 14, 2008, Cono, LLC was sold to Cono
Italiano (Delaware) for the total consideration of $426,000. In exchange for the
100% interest in Cono, LLC, the sole member of the LLC received 6,000,000 shares
of Cono Italiano (Delaware) valued at $114,700 and was issued a promissory note
for $312,000. Mitchell Brown is also a principal stockholder in the
Company.




Cono
Italiano (Delaware) is licensed to distribute a food product called the “Pizza
Cono.” The Pizza Cone is designed to be a drip free, spill free cone-shaped
pizza made of a proprietary dough and filled with freshly selected ingredients.
The Company intends that the Pizza Cone will be distributed through the fast
food market (the fast food market is generally defined as restaurants selling
food and drinks for immediate consumption either on the premises in designated
eating areas, or for consumption elsewhere). The Pizza Cone is expected to be
distributed to quick-service restaurants, takeaways, mobile and street vendors,
and leisure locations. These establishments include typical fast food chains,
supermarkets, convenience stores, entertainment facilities and sports
arenas.





On July
9, 2008, Cono Italiano (Delaware) entered into a distribution and licensing
agreement (the “Distribution Agreement”) with Pino Gelato, Inc., a South
Carolina corporation presently involved in retail sales of Italian gelato and
sales of franchises for the sale of gelato. Under the terms of the Distribution
Agreement, we have granted to Pino Gelato, Inc. the rights in the United States,
Canada and Mexico to sell and distribute our products through retail channels.
The initial term of the Distribution Agreement is for ten (10) years and shall
be automatically renewed for additional ten (10) year terms if neither party is
in material breach of the Distribution Agreement at the expiration date of each
ten (10) year term. The Distribution Agreement includes the right to market
Pizza Cones and establish Pizza Cone and Pino Gelato Cafes. Cono Italiano
(Delaware) has received $100,000 in cash in consideration for such Distribution
Agreement. There have been five retail channels established to date for a
licensing fee of $25,000. Product has been sold to various distributors
throughout the country for distribution. As an inducement to buy the
distribution and franchise rights by Pino Gelato, Inc. the Company agreed to
issue 375,000 shares of common stock to Pino Gelato. Common stock amounting to
250,000 shares was issued to Pino Gelato, with the remaining 125,000 shares to
be issued.





As part
of Cono Italiano (Delaware)’s marketing strategy, Cono Italiano (Delaware) paid
$8,500 in September of 2008 to develop retail packaging and conducted a photo
shoot for the product in October of 2008 at a cost of $1,500.





There
have been five licenses sold to date and there are currently five such cafes in
operation, located in South Carolina, Tennessee, Pittsburgh and Ohio. These
cafes are presently selling the Pizza Cone product.





In July
of 2008, the Company’s Chief Executive Officer, Mitchell Brown and Ramona
Fantini of Pino Gelato formed a manufacturing entity, Edesia Emprise, LLC, to
produce and manufacturer the "Cones" in Indianapolis Indiana. Mitchell Brown
transferred his ownership interests in Edesia Emprise, LLC to his father, Gene
Brown, later that month, before it commenced any operations. Taylor's Bakery was
contracted as a third party manufacturer for this project in January of 2009,
and in March of 2009, Dough Bros., Inc., an entity established by Taylor’s
Bakery, entered into an agreement with Edesia Emprise, LLC and Cono Italiano
(Delaware).





Since
March of 2009, Cono Italiano (Delaware)’s marketing and distribution efforts
have also included giving free samples of its product away at the Indianapolis
Speedway, presenting the product to potential distributors at a trade show, and
selling the product at an Italian festival in Indianapolis.





5





In the
first quarter of 2009, a production facility was established in Indianapolis,
Indiana by Taylor’s Bakery with proprietary baking equipment purchased from
Italy. Cono Italiano (Delaware) has been working together with the TurboChef
Brand of ovens to develop cooking settings to bake the Cono Italiano product in
retail distribution settings. Major food establishments including Subway, Dunkin
Donuts, and Quick Chek currently use TurboChef Brand ovens to cook frozen
products in their establishments. Cono Italiano (Delaware) shipped its initial
orders for products in the second quarter of 2009. Cono Italiano (Delaware) buys
and resells the TurboChef Brand ovens as needed. An alternative supplier, Amana,
makes similar ovens at similar prices which the management of Cono Italiano
(Delaware) believes it can rely upon if there is any disruption in supply of
ovens from TurboChef Brand.





On
October 22, 2009, Dough Bros., Inc., John Allen, Drew Allen, Matt Allen, Edesia
Emprise, LLC, Cono Italiano (Delaware), Mitchell Brown, John Jacobs and Ramona
Fantini entered into an agreement to terminate the relationship between Cono
Italiano (Delaware), Edesia Emprise, LLC and Dough Bros., Inc.





On
November 11, 2009, Cono Italiano (Delaware) and Edesia Emprise, LLC entered into
a Master Manufacturing Agreement. Pursuant to this Master Manufacturing
Agreement, Edesia Emprise, LLC will produce the Company’s Pizza Cono product.
Cono Italiano (Delaware) has agreed to pay Edesia Emprise, LLC the costs of
production plus fifteen percent (15%). This Master Manufacturing Agreement has a
five (5) year term and will automatically renew unless cancelled by one of the
parties pursuant to its terms. This Master Manufacturing Agreement is exclusive
within the United States. Edesia Emprise, LLC may either produce this product
directly or through a subcontractor. On December 8, 2009, the Company was
advised that Edesia Emprise had entered into its first subcontract agreement
with Sunrise Baking Acquisition Company, based in Brooklyn, New
York.





Financial
Information in this Report





The
acquisition of Cono Italiano (Delaware) by our Company is for accounting
purposes treated as a reverse acquisition where Cono Italiano (Delaware) is the
accounting survivor. As such, all financial information discussed and presented
herein is the historical and current information pertaining only to Cono
Italiano (Delaware) except as otherwise indicated. The financial statements and
notes included as part of this Report pertain only to Cono Italiano
(Delaware) as the accounting survivor and disregard the historical
financial statements filed by our Company prior to the acquisition of Cono
Italiano (Delaware).





In
connection with the acquisition of Cono Italiano (Delaware), the Company changed
its fiscal year end from January 31st to
December 31st.





Revenues





From
inception through June 30, 2010, the Company has had total sales of $28,939. In
the six month period ended June 30, 2010, Cono Italiano (Delaware) had total
sales of $5,054, compared to total sales of $5,054 in the six month period ended
June 30, 2009.  In the three month period ended June 30, 2010, Cono
Italiano (Delaware) had total sales of $2,527, compared to total sales of $5,054
in the three month period ended June 30, 2009.  During the six months
ended June 30, 2010 and six months ended June 30, 2009, the Company’s licensees
purchased identical amounts from the Company; however, the timing of these
orders varied between these two periods.  In the second quarter of
2009, sales were $5,054, with no sales occurring in the first quarter; in 2010,
sales of $2,527 were made in each of the first and second quarter of the
year.





From
inception through June 30, 2010, the Company’s gross profits have been
$19,816.  This includes gross profits for the six month period ended June
30, 2010 of $5,054, which is an increase over gross profits of $3,530 for the
six month period ended June 30, 2009.  The Company’s gross profits for
the three month period ended June 30, 2010 were $2,527, which was a decrease
from $3,852 for the three month period ended June 30, 2009.  In both
the three and six month period ended June 30, 2010, the Company had no cost of
sales.  During the six month period ended June 30, 2009, the Company’s
cost of sales was $1,524.  During the three month period ended June
30, 2009, the Company’s cost of sales was $1,202.





6





Financial
Condition, Liquidity and Capital Resources





Through
June 30, 2010, Cono Italiano (Delaware) has accrued total liabilities of
$1,178,055 in the course of developing its operations. The Company’s
expenditures are expected to increase as the Company expands its operations,
expends additional funds on marketing, administration and new staff, and
commences the payment of salaries to existing officers and directors (although
the Company’s officers and directors have agreed that they will not receive any
salary through December 31, 2010). Total liabilities decreased from $1,280,647
at December 31, 2009 to $1,178,055 at June 30, 2010.





The total
assets of Cono Italiano (Delaware) decreased from $322,041 on December 31, 2009
to $304,056 on June 30, 2010. This included $133,938 due from a related party,
which was identical to the amount from December 31, 2009.  Prepaid
expenses were $20,048 as of June 30, 2010, which was also identical to the
amount from December 31, 2009.  As of June 30, 2010 the value of its
licensing rights, net of accumulated amortization, was $133,755 as of June 30,
2010, a decline from $137,004 at December 31, 2009.  Property and
equipment, net of accumulated depreciation, were $16,315 as of June 30, 2010, a
decline from $20,393 as of December 31, 2009.





As of
June 30, 2010, Cono Italiano (Delaware) had $0 in cash and cash equivalents on
hand, as compared to $10,658 on hand as of December 31, 2009. The main source of
the Company’s cash has been loans from an officer; our Chief Executive Officer,
Mitchell Brown, was owed $648,266 as of June 30, 2010, which total loan amount
increased from $624,366 at December 31, 2009.




From
inception through June 30, 2010, the Company’s total expenses have been
$1,537,166. Total expenses for the six month period ended June 30, 2010 were
$104,994. This included, in part, general and administrative expenses of $93,949
and interest expense of $11,045. This was an increase from the six month period
ended June 30, 2009, in which total expenses were $69,365, consisting of selling
expenses of $1,856, general and administrative expenses of $60,852 and interest
expenses of $6,657.  Total expenses for the three month period ended
June 30, 2010 were $56,336, which included general and administrative expenses
of $50,734 and interest expenses of $5,602.  This was an increase from
the three month period ended June 30, 2009, in which total expenses were
$30,546, consisting of general and administrative expenses of $24,787 and
interest expenses of $3,903.





From
inception through June 30, 2010, the Company’s selling expenses have been
$170,366, compensation expenses have been $420,005, general and administrative
expenses have been $900,769 and interest expenses were $49,226.





The
Company’s net loss from inception through June 30, 2010 has been $1,517,350. The
net loss for the six month period ended June 30, 2010 was $99,940, which was an
increase from $65,835 for the six month period ended June 30, 2009.





The
Company’s management believes that Cono Italiano will need additional capital to
conduct business, grow and expand the Company. The terms and condition of any
which we may receive financing could have a material adverse affect on our
business, results of operations, liquidity and financial condition.





On
November 9, 2009, Cono Italiano (Delaware) entered into a Commitment Letter,
pursuant to which, one of our shareholders, Lara Mac has agreed to provide
financing to Cono Italiano, Inc., with such funds as the Company’s Board of
Directors shall deem to be sufficient to maintain the Company’s ordinary course
of business operations (the “Commitment Amount”). Lara Mac is wholly owned by
Mitch Brown, our Chief Executive Officer. We may draw on the Commitment Amount
in monthly tranches in accordance with our operating requirements as set forth
in our business plan. The available Commitment Amount will be reduced by
the aggregate cash proceeds received by the Company which are derived from the
issuance of any equity securities and Company gross revenues. Draws on the
Commitment Amount will be made on terms of unsecured notes, with interest set on
each note as of the date of the draw at prime rate plus two percent per annum.
The notes will mature and become repayable thirty calendar days after demand at
any time following the earlier of (a) December 31, 2010 or (b) the date upon
which we are in receipt of revenues or proceeds from the sales of equity
securities. We will give Lara Mac customary representations and warranties
regarding the good standing of our Company and status of progress in respect of
our Company business plan prior to each draw on the Commitment Amount, and we
will provide certifications and covenants regarding use of proceeds of each
draw, which will be in customary forms reasonably requested by Lara Mac as
determined by reference to similar lenders making similar loans to similar
companies. Lara Mac will not be required to make any loans under the Commitment
Amount to us if we are unable to make the representations, warranties,
certifications or covenants, or if we are in breach of any previously given
representations, warranties, certifications or covenants. If we breach any of
the notes, the default rate will be 15% per annum and Lara Mac may seek recourse
against our company for repayment of all of the notes. As of June 30, 2010,
there had been no borrowings under the Commitment Letter.





7








The
independent auditor's reports of EFP Rotenberg LLP for the period ended December
31, 2009 contained "going concern" qualifications, noting that there was an
accumulated deficit of $980,085 at December 31, 2008 and $1,417,410 at December
31, 2009. Cono Italiano (Delaware)’s auditors expressed the opinion that such
entity’s continued existence is dependent upon its ability to raise capital. The
financial statements do not include any adjustments that might be necessary
should Cono Italiano (Delaware) be unable to continue as a going
concern.





Critical
Accounting Policies and Estimates





Our
consolidated financial statements are prepared in accordance with U.S. Generally
Accepted Accounting Principles (“GAAP”). The preparation of the financial
statements requires us to make estimates and assumptions that affect the
reported amounts of assets, liabilities, revenues, expenses, and related
disclosures. Though we evaluate our estimates and assumptions on an ongoing
basis, our actual results may differ from these estimates.





Intangible
Assets





Intangible
assets consist of licensing rights. The Company applies an impairment evaluation
whenever events or changes in business circumstances indicate that the carrying
value of the intangible assets may not be recoverable. Other intangible assets
are amortized on a straight-line basis over their estimated economic lives. The
Company believes that the straight-line method of amortization reflects an
appropriate allocation of the cost of the intangible assets to earnings in
proportion to the amount of economic benefits obtained annually by the
Company.





Stock-Based
Compensation





Stock-based
compensation related to non-employees is recognized as compensation expense in
the accompanying consolidated statements of operations and is based on the fair
value of the services received or the fair value of the equity instruments
issued, whichever is more readily determinable. The Company’s accounting policy
for equity instruments issued to consultants and vendors in exchange for goods
and services follows the provisions of FASB ASC 505, “Equity Based Payments to
Non-Employees.” The measurement date for the fair value of the equity
instruments issued is determined at the earlier of (i) the date at which a
commitment for performance by the consultant or vendor is reached or (ii) the
date at which the consultant or vendor’s performance is complete. In the case of
equity instruments issued to consultants, the fair value of the equity
instrument is recognized over the term of the consulting agreement.




Off
Balance Sheet Arrangements





The
Company does not have any off balance sheet arrangements that have or are
reasonably likely to have a current or future effect on the Company's financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources.





Item 3: Quantitative and Qualitative Disclosures About
Market Risk





Not
Applicable.





8





Item 4: Controls and Procedures





As of the
end of the period covered by this Report, an evaluation was carried out under
the supervision and with the participation of our management, including our
Chief Executive Officer and Chief Financial Officer, of the effectiveness of our
disclosure controls and procedures, as defined in Rule 13a-15(e) and Rule
15d-15(e) promulgated under the Securities and Exchange Act of 1934 (the
“Exchange Act”). Based on their evaluation of our disclosure controls and
procedures as of June 30, 2010, the Company’s Chief Executive Officer and Chief
Financial Officer have concluded that the Company’s disclosure controls and
procedures were not effective to ensure that information required to be
disclosed by the Company in reports that it files or submits under the Exchange
Act is recorded, processed, summarized and reported within the time periods
specified in Securities and Exchange Commission rules and forms and this
information is accumulated and communicated to management, including the
Company’s Chief Executive Officer and Chief Financial Officer to allow timely
decisions regarding required disclosures.





Management
identified a material weakness (as defined in Public Company Accounting
Oversight Board Standard No. 2) in our internal control over financial reporting
regarding a lack of adequate segregation of duties and concluded that such
controls were not effective as of June 30, 2010.





Changes
in Internal Control Over Financial Reporting





The
Company is in the process of improving its internal control over financial
reporting in an effort to remediate this material weakness by improving
period-end closing procedures and requiring all period-end recurring and
non-recurring adjustments be reviewed by the Chief Financial
Officer.





As of
June 30, 2010, there has been no change in the Company’s internal control over
financial reporting that has materially affected or is reasonably likely to
materially affect the Company’s internal control over financial
reporting.





9





PART II: OTHER INFORMATION




Item
1: Legal Proceedings




The
Company is not, and has not been during the period covered by this Quarterly
Report, a party to any legal proceedings.





Item
1A: Risk Factors





Not
Applicable.




Item
2: Unregistered Sales of Equity Securities and Use of Proceeds





Not Applicable.





Item
3: Defaults Upon Senior Securities





Not
Applicable.




Item
4: Reserved




Not
Applicable.





Item
5: Other Information




None.





10





Item 6: Exhibits





(a)
  Exhibits





Exhibit No.
                    
                    Description of ExhibitsExhibit 31.1
                    
                    Certification
      of Principal Executive Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.Exhibit 31.2
                    
                    Certification
      of Principal Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.Exhibit 32.1
                    
                    Certification
      of the Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.Exhibit
      32.2
                    
                    Certification
      of the Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.




11





SIGNATURES





Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.





CONO
      ITALIANO, INC.(Registrant)Dated:
      August 13, 2010By:
                /s/
      Mitchell BrownName:
                Mitchell
      BrownTitle:
                Principal
      Executive OfficerDated:
      August 13, 2010By:
                /s/
      Alex J. KaminskiName:
                Alex
      J. KaminskiTitle:
                Principal
      Financial Officer and
                  Chief
      Accounting Officer





12