XERION ECOSOLUTIONS GROUP INC.
                            (Formerly IMMULABS CORP)



          Filing Type:                                   10QSB
          Description:                              Quarterly Report
          Filing Date:                                May 17, 2004
           Period End:                               March 31, 2004


     Primary Exchange:                        Over the Counter Bulletin Board
               Ticker:                                    XECO




<PAGE>




                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                   FORM 10-QSB

(Mark one)

 X   QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
---  OF 1934

(Fee required)
                  For the quarterly period ended March 31, 2004


     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934
---


         For the transition period from ______________ to _____________

                         Commission File Number: 0-26760

                         XERION ECOSOLUTIONS GROUP INC.
                         (Formerly IMMULABS CORPORATION)

         Colorado                                      84-1286065
--------------------------                          -------------------------
 (State of incorporation)                            (IRS Employer ID Number)

                         Suite 905, 102-4369 Main Street
                           Whistler, BC Canada V0N 1B4
--------------------------------------------------------------------------------
                    (Address of principal executive offices)

                                 (604) 902 0178
                           (Issuer's telephone number)

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



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

State the number of shares outstanding of each of the issuer's classes of common
equity as of the latest practicable date: May 12, 2004 2,841,523 common stock.

The SEC maintains an Internet site that contains reports,  proxy and information
statements,   and  other  information   regarding  filings  of  the  Company  at
http://www.sec.gov.


Transitional Small Business Disclosure Format (check one): YES   NO X


<PAGE>





                                TABLE OF CONTENTS

ITEM NUMBER                                                                 PAGE

PART 1 - FINANCIAL INFORMATION

1. Financial Statements                                                        1

2. Management's Discussion and Analysis or Plan of Operation                   9

3. Controls and Procedures                                                    11

PART 11 - OTHER INFORMATION

1. Legal Proceedings                                                          11

2. Changes In Securities                                                      12

3. Defaults Upon Senior Securities                                            12

4. Submission of Matters to a Vote of Security                                12

5. Other Information                                                          12

6. Exhibits and Reports on Form 8-K                                           12

Signatures                                                                    13


<PAGE>
<TABLE>
<CAPTION>



PART 1 - FINANCIAL INFORMATION
------------------------------

Item 1 - Financial Statements
-----------------------------

Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Balance Sheets


                                                                                   As at         As at
                                                                                 March 31,    December 31,
                                                                                    2004          2003
                                                                                      $             $

                                                                                (unaudited)     (audited)

<S>                                                                           <C>            <C>
ASSETS

Current Assets

Cash                                                                                4,911         33,685
Accounts Receivable                                                                 9,000           --
Prepaid expenses                                                                    2,185          2,636
--------------------------------------------------------------------------------------------------------
Total Current Assets                                                               16,096         36,321

Property, Plant and Equipment (Note 3)                                              7,098         24,771
--------------------------------------------------------------------------------------------------------
Total Assets                                                                       23,194         61,092
--------------------------------------------------------------------------------------------------------

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current Liabilities

Accounts payable (Note 5(a))                                                       95,090         92,754
Accrued liabilities                                                                 3,250          5,000
Loans from a related party (Note 5(b))                                               --            1,014
--------------------------------------------------------------------------------------------------------
Total Liabilities                                                                  98,340         98,768
--------------------------------------------------------------------------------------------------------

Commitments and Contingencies (Notes 1, 8 and 9)

Stockholders' Deficit

Preferred stock, 50,000,000 shares authorized, no par value; none issued             --             --

Common Stock, 300,000,000 shares authorized, $0.001 par value
2,841,523 and 5,341,523 shares issued and outstanding respectively (Note 4)         2,841          5,342

Additional Paid-in Capital                                                      8,138,242      8,135,742

Stock based compensation                                                        1,876,171      1,876,171

Donated Capital (Note 5(b))                                                       126,000        126,000

Deficit Accumulated During the Development Stage                              (10,218,400)   (10,180,931)
---------------------------------------------------------------------------------------------------------
Total Stockholders' Deficit                                                       (75,146)       (37,676)
---------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholders' Deficit                                        23,194         61,092
--------------------------------------------------------------------------------------------------------
</TABLE>



                                       1
   (The accompanying notes are an integral part of the financial statements)

<PAGE>
<TABLE>
<CAPTION>



Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Statements of Operations
(unaudited)


                                           Accumulated from
                                           November 1, 1985    For the Three Months
                                          (Date of Inception)         Ended
                                             to March 31,            March 31,
                                                 2003           2004           2003
                                                  $              $              $


<S>                                      <C>               <C>            <C>
Revenue                                          --             --             --
-----------------------------------------------------------------------------------

Expenses

General and Administrative

Accounting and audit                           55,735          3,838          2,925
Amortization                                    7,089            807           --
Consulting                                    154,662           --             --
Donated services                              126,000           --            3,000
Financial services                             56,266           --             --
Investor relations                            187,148           --             --
Legal                                       1,029,069            820          6,348
Management fees                               838,000         15,000           --
Director fees                                  12,000           --             --
Office                                         57,589          3,396            213
Salaries                                      234,824            946         26,000
Stock based compensation                    1,876,171           --            2,356
Transfer agent and regulatory                  24,986          1,489            884
Travel and promotion                           22,971           --             --
Loss on disposal of property and equipment      7,866          7,866
-----------------------------------------------------------------------------------
                                            4,690,376         34,162         41,726
-----------------------------------------------------------------------------------
Business Development

     Consulting                                35,392          3,259           --
     Mining Exploration                        29,427             48           --
     Write-off of mining claims (Note 6)       25,000           --             --
     Write-off of technologies (Note 7)        20,000           --             --
-----------------------------------------------------------------------------------
                                              109,819          3,307           --
-----------------------------------------------------------------------------------
Selling and Marketing (Note 4(f))             165,924           --           16,000
-----------------------------------------------------------------------------------
Total Expenses                              4,966,119         37,469         57,726
-----------------------------------------------------------------------------------
Loss from Continuing Operations            (4,966,119)       (37,469)       (57,726)

Loss from Discontinued Operations          (5,252,281)          --             --
-----------------------------------------------------------------------------------
Net Loss For the Period                   (10,218,400)       (37,469)       (57,726)
-----------------------------------------------------------------------------------

Net Loss Per Share - Basic                                     (0.01)         (0.02)
-----------------------------------------------------------------------------------

Weighted Average Shares Outstanding                        2,841,000      2,605,000
-----------------------------------------------------------------------------------
</TABLE>

(Diluted loss per share has not been presented as the result is anti-dilutive)




                                       2
    (The accompanying notes are an integral part of the financial statements)

<PAGE>




Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Statements of Cash Flows
(unaudited)


                                                            For the Three Months
                                                                   Ended
                                                                  March 31,
                                                              2004        2003
                                                                $           $
Cash Flows to Operating Activities

Net loss for the period                                     (37,469)    (57,726)

Adjustments to reconcile net loss to cash:

Amortization                                                    807
Donated services                                               --         3,000
Stock based compensation                                       --         2,356
Loss on sale of property, plant and equipment                 7,866        --

Change in non-cash working capital items:

Increase in accounts receivable                              (9,000)       --
Decrease in prepaid expenses                                    451     (16,000)
Decrease in accounts payable and accrued liabilities            586         342
-------------------------------------------------------------------------------
Net Cash Used in Operating Activities                       (36,759)    (68,028)
-------------------------------------------------------------------------------
Cash Flows from Financing Activities

Proceeds from subscriptions receivable                         --        20,000
Proceeds from shares issued                                    --        90,000
Advances from (to) a related party                           (1,015)        767
-------------------------------------------------------------------------------
Net Cash From (Used in) Financing Activities                 (1,015)    110,767
-------------------------------------------------------------------------------
Cash Flows to Investing Activities

Proceeds from sale of property, plant and equipment           9,000        --
Purchase of mining claims                                      --       (20,000)
-------------------------------------------------------------------------------
Net Cash From (Used in) Investing Activities                  9,000     (20,000)
-------------------------------------------------------------------------------
Increase (Decrease) in Cash                                 (28,774)     22,739

Cash - Beginning of Period                                   33,685       2,997
-------------------------------------------------------------------------------
Cash - End of Period                                          4,911      25,736
-------------------------------------------------------------------------------
Non-Cash Financing Activities

Shares issued to consultants                                   --          --
Forgiveness of debt to related party                           --        18,500
Shares issued for acquisition of mining claims                 --         5,000
Shares issued for acquisition of technology rights             --        20,000
-------------------------------------------------------------------------------
Supplemental Disclosures

Interest paid                                                  --          --
Income tax paid                                                --          --
-------------------------------------------------------------------------------


(Diluted loss per share has not been presented as the result is anti-dilutive)
                                       3

<PAGE>

Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Notes to the Financial Statements


1.   Nature of Operations and Continuance of Business

     Xerion  EcoSolutions  Group  Inc.,   formerly  Immulabs   Corporation  (the
     "Company"), was initially incorporated as Gemini Ventures, Inc. on November
     1, 1985 under the laws of the State of  Colorado.  The Company  changed its
     name to Solomon Trading Company,  Limited in July 1989; The Voyageur,  Inc.
     in November 1994; The Voyageur First, Inc. in December 1994; North American
     Resorts,  Inc. in March 1995; and Immulabs  Corporation in September  2000.
     Effective   March  28,  2003,  the  Company  changed  its  name  to  Xerion
     EcoSolutions  Group Inc. The shares of the Company  currently  trade on the
     Over the Counter Bulletin Board under the ticker symbol "XECO".

     From  1995  through  1998,  the  Company  was in the  business  of  selling
     vacations in Florida and the sale of  time-share  memberships  to the Ocean
     Landings and Cypress Island Preserve facilities in Florida, which were then
     controlled by the Company,  and the operation of Cypress Island Preserve as
     a tourist  destination.  During the fourth  quarter  of 1998,  the  Company
     liquidated its holdings in these ventures and  discontinued all operations.
     With the disposition of all operations,  the Company became fully dependent
     upon the support of its controlling shareholders for the maintenance of its
     corporate status and to provide all working capital.

     On December 6, 2002, the Company's Board of Directors  affected a 1 new for
     100 old reverse split of the issued and outstanding  shares.  The effect of
     this reverse split is reflected in the financial statements as of the first
     day of the first period presented.

     The Company had entered the business of mine reclamation and  environmental
     remediation,  which had focused on serving the mining and coal, fired power
     plant  industries.  Refer to Notes 6 and 7. On March 17,  2003 the  Company
     purchased   67  mining   claims  and  certain  ore  and  waste   processing
     technologies.  In compliance with the purchase agreements, the vendors were
     obligated  to deliver  exploration  and  metallurgical  data to support the
     representations  made about the  processing  technologies  and claims.  The
     Vendors neglected to deliver this documentation. Subsequent to December 31,
     2003 the Company  cancelled the purchase  agreements  and is evaluating its
     legal  options  in  claiming  damages  based  on   misrepresentation.   The
     cancellation of the purchase  agreements  results in a reimbursement of 2.5
     million shares to the Company,  which will substantially  reduce the issued
     and outstanding shares of the Company.

     The Company has recently  been working with a specialist  consultant in the
     field of hydrometallurgy. This work has included a research project focused
     of developing a viable alternative to cyanide for the gold mining industry.
     The results of this  research  project have  identified  specific  chemical
     conditions in the application of certain non-toxic reagents that could lead
     to a significant  breakthrough  in the  development  of a  replacement  for
     cyanide.  The Company is  currently  evaluating  its options with regard to
     developing this new technology.

     These financial statements are prepared using generally accepted accounting
     principles   applicable  to  a  going  concern,   which   contemplates  the
     realization  of assets and  liquidation of liabilities in the normal course
     of business.  However,  the Company does not have significant cash or other
     material assets,  nor does it have an established source of revenues needed
     to  cover  its  operating  costs  and to allow  it to  continue  as a going
     concern.  The  Company  has  ongoing  overhead  expenses  and will  require
     significant  capital to execute its business plan. The Company's ability to
     meet those  obligations  and continue as a going concern is dependent  upon
     raising new capital through issuing debt and/or equity  securities and then
     to generate revenues and profits.  Until these funding sources  materialize
     the  controlling  shareholders  intend to continue the funding of necessary
     expenses to sustain operations.

2.   Summary of Significant Accounting Policies

     Year End

     The Company's fiscal year end is December 31.

                                       4
<PAGE>

Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Notes to the Financial Statements

     Basis of Accounting

     These  financial  statements  are prepared in  conformity  with  accounting
     principles  generally  accepted in the United  States and are  presented in
     U.S. dollars.

     Cash and Cash Equivalents

     The Company considers all highly liquid  instruments with maturity of three
     months or less at the time of issuance to be cash equivalents.


2.   Summary of Significant Accounting Policies (continued)

     Use of Estimates and Assumptions

     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 periods. Actual results could differ from those estimates.

     Basic and Diluted Net Income (Loss) per Share

     The Company  computes net income (loss) per share in  accordance  with SFAS
     No. 128, "Earnings per Share" (SFAS 128). SFAS 128 requires presentation of
     both basic and diluted  earnings  per share (EPS) on the face of the income
     statement. Basic EPS is computed by dividing net income (loss) available to
     common  shareholders  (numerator) by the weighted  average number of common
     shares  outstanding  (denominator)  during the  period.  Diluted  EPS gives
     effect to all  dilutive  potential  common  shares  outstanding  during the
     period  including  stock  options,  using the treasury  stock  method,  and
     convertible  preferred stock,  using the if-converted  method. In computing
     Diluted EPS, the average stock price for the period is used in  determining
     the number of shares  assumed to be  purchased  from the  exercise of stock
     options or warrants.  Diluted EPS excludes all dilutive potential shares if
     their effect is anti-dilutive.  Loss per share information does not include
     the  effect  of any  potential  common  shares,  as their  effect  would be
     anti-dilutive.

     Accounting for Stock Based Compensation

     The  Company  has  adopted  SFAS  No.  123   "Accounting  for  Stock  Based
     Compensation"  which  requires  that stock awards  granted to employees and
     non-employees  are  recognized  as  compensation  expense based on the fair
     market  value of the  stock  award or fair  market  value of the  goods and
     services received whichever is more reliably measurable.

     Property, Plant and Equipment

     Property, plant and equipment consists of laboratory and computer equipment
     recorded at cost and amortized on a  straight-line  basis over a three-year
     period.

     Financial Instruments

     The fair value of the Company's current assets and current liabilities were
     estimated  to  approximate  their  carrying  values  due to  the  immediate
     short-term maturity of these financial instruments. As the Company operates
     in Canada,  virtually all of its assets and  liabilities are giving rise to
     significant  exposure  to market  risks from  changes  in foreign  currency
     rates.  The  financial  risk is the risk to the Company's  operations  that
     arise  from  fluctuations  in  foreign  exchange  rates  and the  degree of
     volatility of these rates.  Currently,  the Company does not use derivative
     instruments  to reduce its exposure to foreign  currency  risk.  Management
     does not believe the Company is exposed to  significant  credit or interest
     rate risks.

     Comprehensive Loss

     SFAS No. 130, "Reporting  Comprehensive  Income," establishes standards for
     the reporting and display of  comprehensive  loss and its components in the
     financial  statements.  As at September 2003, the Company has no items that
     represent comprehensive loss and, therefore, has not included a schedule of
     comprehensive loss in the financial statements.

                                       5
<PAGE>


Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Notes to the Financial Statements

     Mineral Properties

     The  Company  capitalizes  the  acquisition  cost  of  mineral  properties.
     Exploration  costs,  such as  prospecting  and  geophysical  analysis,  are
     expensed as incurred,  and  pre-production  development costs are generally
     capitalized  on an individual  property  basis.  These costs,  which do not
     necessarily  reflect  present  values,  are  amortized  over the  estimated
     productive lives of the properties following the commencement of commercial
     production  using  the  unit  of  production   method.  If  a  property  is
     subsequently abandoned,  sold or determined not to be economic, all related
     costs  are  written  down.  It is  reasonably  possible  that  economically
     recoverable  reserves  may not be  discovered  and  accordingly  a material
     portion of the carrying value of mineral  properties  and related  deferred
     exploration  costs could be written off.  Properties  acquired under option
     agreements  whereby payments are made at the sole discretion of the Company
     are recorded in the accounts at such time as the payments are made.

     Long-Lived Assets

     SFAS No. 144,  "Accounting  for the  Impairment  or Disposal of  Long-Lived
     Assets"  establishes a single  accounting model for long-lived assets to be
     disposed of by sale including  discontinued  operations.  SFAS 144 requires
     that  these  long-lived  assets be  measured  at the lower of the  carrying
     amount or fair  value less cost to sell,  whether  reported  in  continuing
     operations or discontinued operations.

2.   Summary of Significant Accounting Policies (continued)

     Foreign Currency Transactions/Balances

     The Company's  functional currency is the United States dollar.  Occasional
     transactions  occur in Canadian  currency,  and management has adopted SFAS
     No. 52,  "Foreign  Currency  Translation".  Monetary assets and liabilities
     denominated in foreign currencies are translated into United States dollars
     at rates of  exchange in effect at the  balance  sheet  date.  Non-monetary
     assets,  liabilities and items recorded in income arising from transactions
     denominated  in foreign  currencies  are translated at rates of exchange in
     effect at the date of the transaction.

     Concentration of Risk

     The Company  maintains its cash account in primarily one commercial bank in
     Vancouver,  British Columbia,  Canada.  The Company's cash accounts are two
     uninsured  business  checking  accounts  maintained  in U.S.  and  Canadian
     dollars,  which  totalled  $4,911 on March 31, 2004.  At March 31, 2004 the
     Company  has not  engaged  in any  transactions  that  would be  considered
     derivative instruments on hedging activities.

     Interim Financial Statements

     These interim unaudited financial statements have been prepared on the same
     basis as the annual financial  statements and in the opinion of management,
     reflect all adjustments,  which include only normal recurring  adjustments,
     necessary to present fairly the Company's  financial  position,  results of
     operations and cash flows for the periods shown.  The results of operations
     for such periods are not necessarily indicative of the results expected for
     a full year or for any future period.

     Recent Accounting Pronouncements

     In May  2003,  the  FASB  issued  SFAS No.  150,  "Accounting  for  Certain
     Financial Instruments with Characteristics of both Liabilities and Equity".
     SFAS  No.  150  establishes  standards  for how an  issuer  classifies  and
     measures  certain  financial   instruments  with  characteristics  of  both
     liabilities  and equity.  It requires  that an issuer  classify a financial
     instrument  that is within  its scope as a  liability  (or an asset in some
     circumstances).  The  requirements  of  SFAS  No.  150  apply  to  issuers'
     classification  and  measurement  of  freestanding  financial  instruments,
     including  those that  comprise  more than one option or forward  contract.
     SFAS No. 150 does not apply to  features  that are  embedded in a financial
     instrument  that is not a  derivative  in its  entirety.  SFAS  No.  150 is
     effective for financial  instruments entered into or modified after May 31,
     2003,  and  otherwise is effective  at the  beginning of the first  interim
     period  beginning  after June 15,  2003,  except for  mandatory  redeemable
     financial  instruments of non-public  entities.  It is to be implemented by
     reporting the cumulative effect of a change in an accounting  principle for
     financial  instruments created before the issuance date of SFAS No. 150 and
     still  existing  at  the  beginning  of the  interim  period  of  adoption.
     Restatement is not permitted. The adoption of this standard is not expected
     to have a  material  effect  on the  Company's  results  of  operations  or
     financial position.

                                       6

<PAGE>
<TABLE>
<CAPTION>


Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Notes to the Financial Statements

     In December  2003,  the United States  Securities  and Exchange  Commission
     issued Staff Accounting Bulletin No. 104, "Revenue  Recognition" (SAB 104),
     which supersedes SAB 101,  "Revenue  Recognition in Financial  Statements."
     The primary purpose of SAB 104 is to rescind accounting  guidance contained
     in SAB 101  related to multiple  element  revenue  arrangements,  which was
     superseded  as a result of the  issuance  of EITF  00-21,  "Accounting  for
     Revenue Arrangements with Multiple  Deliverables." While the wording of SAB
     104 has  changed  to  reflect  the  issuance  of EITF  00-21,  the  revenue
     recognition  principles of SAB 101 remain largely unchanged by the issuance
     of SAB 104. The  adoption of SAB 104 did not have a material  impact on the
     Company's financial statements.


3.   Property, Plant and Equipment
                                                                       March 31,        December 31,
                                                                          2004              2003
                                                                       Net Book           Net Book
                                                  Accumulated             Value             Value
                                      Cost        Amortization              $                 $
                                       $               $               (unaudited)        (audited)
<S>                                  <C>             <C>                  <C>               <C>
     Computer equipment              9,207           2,109                7,098             7,905
     -------------------------------------------------------------------------------------------------
</TABLE>

4.   Share Capital

     (a)  Common Stock

          On  February  2, 2004,  the Company  cancelled  the mining  claims and
          technology   right  agreements  with  the  vendors  and  is  currently
          evaluating   its  legal   options  in   claiming   damages   based  on
          misrepresentation.  The  2,500,000  shares  issued to the vendors have
          been returned to treasury and cancelled.

     (b)  Warrants

          (i)  Pursuant  to private  placements  the  Company  received  cash of
               $179,250 and issued 125,100  common shares during April,  May and
               July 2003. One Gold Warrant per share was attached to each common
               share.  This allows each  investor the right to purchase  0.03215
               oz. of gold for each share  purchased  from the  Company at a 25%
               discount  to the New York spot  price  calculated  on the day the
               warrant is exercised.  The warrant is  non-transferable  and is a
               conditional  warrant in that the Company must first  produce gold
               in "sufficient"  quantities before it can be exercised.  The Gold
               Warrant  shall expire sixty months from the date of acceptance of
               the  agreement.   "Sufficient"  quantities  is  defined  in  each
               contract as the economic  recovery of at least 250,000  ounces of
               gold which belong solely to the Company,  and gold which has been
               recovered using the Xerion Reaction System and that such exercise
               of the Gold Warrants will not endanger the ability of the Company
               to finance or support its immediate operational plan.

          (ii) Pursuant  to a private  placement  the Company  received  cash of
               $85,200 and issued 17,040 common shares in August 2003.  One Gold
               Warrant  was  attached  to  each  common  share  under  the  same
               contractual  agreement as above. However, the Gold Warrant allows
               each  investor the right to purchase  0.0643 oz. of gold for each
               share purchased.

          (iii)Pursuant  to a private  placement  the Company  received  cash of
               $49,000 and issued  98,000 common  shares in December  2003.  One
               Gold  Warrant was  attached  to each common  share under the same
               contractual  agreement as above. However, the Gold Warrant allows
               each  investor the right to purchase  0.0643 oz. of gold for each
               share  purchased,  and need not have  mined  the gold  using  the
               Xerion Reaction System.


                                       7
<PAGE>

Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Notes to the Financial Statements

     (c)  Stock options

          On March 24, 2003, the Company filed a Form S-8 Registration Statement
          with the U.S. Securities and Exchange Commission to register 1,000,000
          shares of common stock  pursuant to the Company's  2003  Nonqualifying
          Stock  Option  Plan ("2003  NQPlan").  This 2003 NQPlan is for persons
          employed or associated with the Company,  including without limitation
          any  employee,   director,   general   partner,   officer,   attorney,
          accountant,  consultant  or  advisor,  is intended to advance the best
          interests  of the Company by providing  additional  incentive to those
          persons  who have a  substantial  responsibility  for its  management,
          affairs,  and growth by increasing their  proprietary  interest in the
          success of the Company,  thereby  encouraging  them to maintain  their
          relationships with the Company. The determination of those eligible to
          receive options under the 2003 NQPlan, and the amount, price, type and
          timing of each Stock option and the terms and conditions shall rest at
          the sole  discretion of the Company's  Board of Directors,  subject to
          the provisions of the 2003 NQPlan;

          As of March 31, 2004, there are no outsanding stock options.



                                                                      Weighted
                                                                      Average
                                                       Weighted       Remaining
                                    Shares           Average        Contractual
                                 Under Option      Option Price         Life
                                     #                 $             (months)

Beginning of year                   125,000             4.00
Granted                                --               --
Exercised                              --               --
Expired                            (125,000)            4.00
--------------------------------------------------------------------------------
End of period                          --               --
--------------------------------------------------------------------------------


Stock based  compensation was calculated using the Black-Scholes  Option Pricing
method with the following assumptions:  expected volatility - 95%; expected life
- 1.0 years; and risk-free rate - 1.18%.




5.   Related Party Transactions and Balances

     (a)  On March 20, 2003,  the Company  entered into a five-year  contract to
          retain the current  President of the Company at $20,000 per month. The
          President  of the  Company  has  agreed to reduce  this to $5,000  per
          month, as of January 1, 2004.

          Included  in accounts  payable is a balance of $72,928  payable to the
          President of the Company.  Until  October 1, 2003,  the  President has
          been donating his services to the Company,  at which point the Company
          agreed to remunerate the President at $20,000 per month. As of January
          1, 2004, this has been adjusted to $5,000 per month.

     (b)  The amounts due to the President of the Company represented cash loans
          and are non-interest bearing,  unsecured and without specific terms of
          repayment.

6.   Mining Claims

     On March 17, 2003 and subsequently amended on September 4, 2003 the Company
     had  entered  into an  agreement  to  acquire 67 mining  claims  located in
     California  from an  arms-length  vendor.  Consideration  was  $20,000  and
     500,000 shares of the Company valued at $0.01 per share.  These shares were
     issued on March 21, 2003.  On February 2, 2004,  the Company  cancelled the
     agreement with the vendors and is currently evaluating its legal options in
     claiming damages based on  misrepresentation.  The 500,000 shares issued to
     the vendors have been returned to treasury and cancelled.


                                       8
<PAGE>

Xerion EcoSolutions Group Inc.
(A Development Stage Company)
Notes to the Financial Statements

7.   Technology Rights

     The Company  entered  into an  agreement  to acquire an  option-to-purchase
     certain ore and waste processing technologies (the "Technologies") from the
     President of the Company for $1. The Company  subsequently  exercised  that
     option-to-purchase  and issued  2,000,000  common  shares of the Company in
     total  consideration  to  the  three  original  arms-length  owners  of the
     Technologies.  The 2,000,000  shares issued by the Company have been valued
     at $0.01 per share or $20,000 in total.  These  shares were issued on March
     21, 2003. On February 2, 2004 the Company cancelled this agreement with the
     vendors and is currently  evaluating its legal options in claiming  damages
     based on misrepresentation. The 2,000,000 shares issued to the vendors have
     been returned to treasury and cancelled.

8.   Contingent Liability

     The Company is in dispute over the  purchase of a shuttle bus in 1998.  The
     owners of the bus lost the vehicle in bankruptcy  and are looking to recoup
     $97,509  due to their  losses,  however,  the  title  of the bus was  never
     transferred   to  the   Company  and  the  Company  is  looking  to  recoup
     approximately $15,000 in payments made towards the purchase. The Company is
     now relying on former directors of the Company as well as the estate of the
     Company's  former attorney to cover the costs.  These parties have signed a
     Hold  Harmless  Agreement  indemnifying  the Company from any costs arising
     from  this  matter.  It is not  possible  at this time for the  Company  to
     predict with any certainty the outcome of this claim.  However,  management
     is of the opinion,  based upon information presently available,  that it is
     unlikely that any liability  would be material in relation to the Company's
     financial position.

9.   Commitment

     On July 3, 2003, the Company signed its first contract for the reprocessing
     of thirty  five  million  tons of slag  produced by a copper  smelter  last
     operated by Phelps Dodge in the 1950's.  The slag has been  analyzed by the
     owners and they  represent to the Company that it contains over six million
     ounces  of  recoverable  gold as well as  significant  amounts  of  silver,
     copper,  zinc, iron and silica.  The agreement allowed Xerion six months to
     perform tests on the slag to validate the reported  mineral  content before
     proceeding into production on a 50/50 joint venture basis. Subsequently, an
     independent  assessment  has  been  unable  to  confirm  metal  content  or
     anticipated recoverability and it is unlikely that the project will proceed
     without further substantiation of the owner's claims.


Item 2 - Management's Discussion and Analysis or Plan of Operation
------------------------------------------------------------------

Caution Regarding Forward-Looking Information
---------------------------------------------

This  quarterly   report  contains   certain   forward-looking   statements  and
information relating to the Company that are based on the beliefs of the Company
or management as well as assumptions made by and information currently available
to  the  Company  or  management.   When  used  in  this  document,   the  words
"anticipate",   "believe",   "estimate",   "expect"  and  "intend"  and  similar
expressions,  as they relate to the Company or its  management,  are intended to
identify forward-looking statements. Such statements reflect the current view of
the  Company   regarding  future  events  and  are  subject  to  certain  risks,
uncertainties  and  assumptions,  including the risks and  uncertainties  noted.
Should  one or more of  these  risks or  uncertainties  materialize,  or  should
underlying assumptions prove incorrect,  actual results may vary materially from
those  described  herein  as  anticipated,   believed,  estimated,  expected  or
intended. In each instance,  forward-looking information should be considered in
light of the accompanying meaningful cautionary statements herein.


General Business Overview
-------------------------

Xerion  EcoSolutions Group Inc. was originally  incorporated in Colorado in 1985
as  Gemini  Ventures,  Inc.  The name was  changed  in 1989 to  Solomon  Trading
Company,  Ltd., in 1994 to the Voyageur  First,  Inc., in 1995 to North American
Resorts, Inc., in 2000 to Immulabs Corp. Effective March 28, 2003, as filed with
the State of Colorado, the Company changed its name to Xerion EcoSolutions Group
Inc. and is currently in the business of developing gold  extraction  technology
for the mining industry.


                                       9
<PAGE>

In  November  2000,   Immulabs   acquired  the  exclusive   rights  to  purchase
technologies  developed  by Quest  Research  Group,  Inc.  ("Quest")  of Boston,
Massachusetts,  and to buy up to 100% of that company.  Quest's biotech research
had resulted in the development of two  technologies of interest to the Company,
which the Company hoped to  commercialize.  With the exclusive rights to acquire
secured,  the  Company had been  performing  its due  diligence  pursuant to its
option  contract with Quest in order to evaluate the  technology and develop its
commercialization  strategy.  The parties entered into a dispute and the Company
contacted  Quest to seek  mediation or arbitration as provided for in the option
agreement.  The Company  subsequently learned that Quest had insufficient assets
to  warrant  litigation  and  decided at this time not to pursue  further  legal
action.

In October 2002, the Company retained Ben Traub as President of the company. Mr.
Traub was to identify new business opportunities on behalf of the Company.

On March 17, 2003 the  Company  purchased  67 mining  claims and certain ore and
waste processing technologies.  In compliance with the purchase agreements,  the
vendors were obligated to deliver  exploration and metallurgical data to support
the  representations  made about the  processing  technologies  and claims.  The
Vendors neglected to deliver this documentation. Subsequent to December 31, 2003
the Company has canceled the purchase agreements and is currently evaluating its
legal options in claiming damages based on  misrepresentation.  The cancellation
of the purchase  agreements  results in a reimbursement of 2.5 million shares to
the company,  which  substantially  reduced the issued and outstanding shares of
the Company.

Over the past  several  months  the  Company  has been  working  with Dr.  David
Dreisinger (1), a specialist  consultant in the field of  hydrometallurgy.  This
work has included a research project focused of developing a viable  alternative
to cyanide for the gold mining industry.

As a result of this research  project,  Dr.  Dreisinger has  identified  certain
chemical  conditions in the  application of certain  non-toxic  reagents that he
believes  could  lead to a  significant  breakthrough  in the  development  of a
replacement for cyanide.

Cyanide  is  currently  used to  extract  in excess of 80% of the  world's  gold
production.  Cyanide is widely known to be toxic and dangerous to work with (2).
Due to many accidental spills of cyanide into lakes, streams and drinking water,
the use of cyanide has come under close  scrutiny by  environmental  regulators.
Public  awareness of the  perceived  dangers has led to the use of cyanide being
banned or  severely  restricted  in some areas of the world,  thus  providing  a
commercial  opportunity for alternative  gold extraction  systems.  For example,
Canyon Resources has a 10.9 million ounce gold deposit that is currently impeded
from development by the anti-mining initiative, I-137, which bans development of
new gold and silver mines which use open-pit mining and cyanide in the treatment
and recovery process in the State of Montana (3).

To date,  no  alternative  gold  extraction  system has found  broad  commercial
success due to associated problems with chemistry and/or economics (4).

It is Xerion's goal to develop a less toxic alternative to cyanide for the gold
mining industry. There is currently little market for cyanide alternatives due
to the wide use of cyanide and its strong market dominance. However, due to the
current regulatory climate, it is possible that substantial proof of concept by
a less toxic alternative could result in adoption by the mining industry.

Dr.  Dreisinger has identified and proposed  certain  chemical  conditions under
which selected non-toxic reagents could potentially operate economically, at the
same time avoid known handicaps  previously  associated  with such chemistry.  A
substantial  review of related  literature and existing patents has not revealed

any other work that has utilized  these  proposed  chemical  conditions.  Xerion
continues to examine the large body of knowledge  associated with this chemistry
in the search for potential  conflicts that might hinder the success of a patent
application.

The Company is currently in discussions  with Dr.  Dreisinger and the University
of British  Columbia (5) regarding  the necessary  bench scale lab work to prove
out Dr. Dreisinger's hypothesis.

(1)  www.mmat.ubc.ca/units/bioh/people/dreisinger/dreisinger.html
(2)  www.cyanidecode.org/library/cn_facts_health.html
(3)  www.canyonresources.com/projects/mcdon.html
(4)  http://technology.infomine.com/enviromine/publicat/cyanide.pdf
(5)  www.mmat.ubc.ca/research/groups/hydromet.htm



                                       10
<PAGE>


Results of Operations for the Period Ended March 31, 2004
---------------------------------------------------------

Revenues. The Company currently has no revenues from operations, and the Company
does not  anticipate  that it will  generate  any  revenues  until it can either
successfully  validate its  technology  to the  industry or put its  prospective
projects  into  production.  Management  continues  to be  actively  involved in
negotiations  to  secure  sufficient  equity  financing  to fund  the  Company's
business plan and to ensure the generation of future revenues.

General and Administrative  Expense.  For the three month period ended March 31,
2004, we reported general and administrative  expenses of $26,296, a decrease of
$15,430,  or 37% from $41,726  reported in the  equivalent  period for 2003. The
decrease  primarily  resulted  from reduced  legal fees and salaries as business
development  strategies are currently  being delayed until further  research and
development  takes  place.  Management  fees of  $15,000  are a new  expenditure
incurred  this  period  compared to the period of March  2003.  This  represents
management  fees  at  $5,000  per  month  as  opposed  to the  donated  services
previously accounted.

Selling and Marketing Expense. There was a 100% decrease in advertising expenses
for the quarter of March 31, 2004,  compared to the equivalent  quarter in 2003.
This resulted  from  management's  primary focus being  diverted to research and
development as opposed to the previous business development strategies.

Business Development Expenditure. $11,173 has been spent on business development
for the quarter ended March 31, 2004,  compared to nil in the equivalent  period
for 2003. The was no active business activity in last year's March quarter.  The
expenditures incurred this period represents research and development consulting
expenses used primarily for product  development  and disposal of the laboratory
equipment.

Liquidity and Capital  Resources.  The primary  source of the Company's cash has
been through the sale of equity.  Our cash decreased to $4,911 at March 31, 2004
from $33,685 at March  31,2003.  Cash of $9,000 is due to be collected  from the
sale of laboratory  equipment and cash of $37,000 was used to fund the operating
activities.  Future  expenses will be either be financed by  additional  sale of
equity to the President of the Company or in the form of private placements.

The Company  believes its current  available cash position is sufficient to meet
its cash needs on a short-term  basis.  The  Company's  ability to continue as a
going concern is dependent upon the Company's  ability in the near future to (i)
raise additional funds through equity  financings,  and (ii) develop  marketable
technology in the mining industry.

Item 3 - Controls and Procedures
--------------------------------

(a)  Evaluation of disclosure  controls and procedures.  Based on the evaluation
     of the Company's  disclosure  controls and  procedures (as defined in Rules
     13a-14(c) and 15d-14(c) under the Securities  Exchange Act of 1934) as of a
     date  within 90 days of the filing  date of this  Quarterly  Report on Form
     10-QSB,  our chief  executive  officer  and chief  financial  officer  have
     concluded  that our  disclosure  controls  and  procedures  are designed to
     ensure that the  information  we are required to disclose in the reports we
     file or submit under the Exchange  Act is recorded,  processed,  summarized
     and reported within the time periods specified in the SEC's rules and forms
     and are operating in an effective manner.

(b)  Changes in  internal  controls.  There were no  significant  changes in our
     internal controls or in other factors that could significantly affect these
     controls subsequent to the date of their most recent evaluation.


PART 11 - OTHER INFORMATION
---------------------------

Item 1 - Legal Proceedings
--------------------------

To the best knowledge of the Officers and Directors of the Company,  neither the
Company  nor  any of  its  Officers  and  Directors  are  parties  to any  legal
proceeding or litigation  other than as described below.  Further,  the Officers
and  Directors  know of no  threatened  or  contemplated  legal  proceedings  or
litigation other than as described below

                                       11
<PAGE>

The current  Management learned in late 2002 that the Company is in dispute over
its purchase of a shuttle bus in 1998. The owners of the bus lost the vehicle in
bankruptcy and are looking to recoup  $97,508.58  plus  associated  costs due to
their losses, however, the title of the bus was never transferred to the Company
and the Company was looking to recoup some $15,000 in payments  made towards the
purchase.  The  Company is now  relying on former  directors  of the Company dba
North  American  Resorts  Inc.  as well as the  estate of the  Company's  former
attorney to cover the costs. These parties have signed a Hold Harmless Agreement
indemnifying  the Company  from any costs  arising from  previously  undisclosed
liabilities.  An  attorney  representing  a former  Director  of the Company has
informed  the  Company  that  they  have  worked  out  a  potential  alternative
settlement  with the Claimants  that would absolve the Company of any liability.
That  attorney  is  waiting  for his  legal  fees to be paid to  complete  these
transactions  and has advised the Company  that a payment of $10,000  will clear
the matter  within  thirty days.  The Company has made no payments and no formal
demand for payment  has been  received by the Company and in the event that this
occurs the Company will be pursuing former Directors for payment in this matter.
If  this   situation   escalates  and  the  Company   cannot  collect  from  its
indemnifiers, the company may have to pay any money that becomes due.

On March 17, 2003 the  Company  purchased  67 mining  claims and certain ore and
waste processing technologies.  In compliance with the purchase agreements,  the
vendors were obligated to deliver  exploration and metallurgical data to support
the  representations  made about the  processing  technologies  and claims.  The
Vendors  neglected  to deliver  this  documentation.  As of February 4, 2004 the
Company has cancelled the purchase  agreements  and is currently  evaluating its
legal options in claiming damages based on misrepresentation.

Item 2 - Changes in Securities
------------------------------
None

Item 3 - Defaults Upon Senior Securities
----------------------------------------
None

Item 4 - Submission Of Matters To A Vote Of Security Holders
------------------------------------------------------------
None

Item 5 - Other Information
--------------------------
None

Item 6 - Exhibits and Reports on Form 8-K
-----------------------------------------

(DOCUMENTS INCORPORATED BY REFERENCE)
     (a)  Filed January 7, 2004.  The Company has received final results from an
          independent  review of the patent  application of XRS technology.  The
          results  indicate  that  most of the  chemistry  surrounding  Xerion's
          technology  is known to be valid,  but  according  to the  Consultant,
          these valid components  appear to have been developed by parties other
          than the Vendors.

     (b)  Filed February 9, 2004. The Company has cancelled purchase  agreements
          related to acquisition  of mining claims and mining  technology and is
          taking  steps for recovery of shares that were granted to the vendors.
          Additionally,  the Company is currently  evaluating  its legal options
          for  return  of  funds   expended  in  reliance   upon  the   vendor's
          representations.

SIGNATURES

In  accordance  with  Section 12 of the  Securities  Exchange  Act of 1934,  the
Registrant caused this Registration  Statement to be signed on its behalf by the
undersigned, thereunto duly authorized.

Xerion EcoSolutions Group Inc. (Formerly Immulabs Corporation)

By:

/s/ Ben Traub
------------------------------------
Ben Traub, President
Dated: May 12, 2004

By:

/s/ Ellen Luthy
----------------------
Ellen Luthy, Secretary
Dated: May 12, 2004

                                       12