SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

[x]     Quarterly Report Pursuant to Section 13 or 15(d) Securities
Exchange Act of 1934 for Quarterly Period Ended March 31, 2010
-OR-
[ ]     Transition Report Pursuant to Section 13 or 15(d) of the
Securities And Exchange Act of 1934 for the transaction period from
_________  to________

Commission File Number             0-22965

Iron Eagle Group, Inc.
--------------------------------------------
(Exact name of registrant as specified in its charter)

Delaware                                     84-1414869
---------------------------------------------------------------
(State or other jurisdiction                  (I.R.S. Employer
of incorporation or organization            Identification Number)

9600 E. Arapahoe Road, Suite 260
Englewood, Colorado              80112
---------------------------------------------------------------
(Address of principal executive offices,               Zip Code)

(303) 705-8600
------------------------------------------
(Registrant's telephone number, including area code)

Indicate by check mark whether the issuer (1) 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  [ ]      No [x]

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 (section 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 [x]   No [ ]

Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company.
  Large accelerated filer [  ]     Accelerated filer  [  ]
  Non-accelerated filer   [  ]     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 [ ]    No [x]

The number of outstanding shares of the registrant's common stock as of
May 19, 2010 was 412,186,042.



<PAGE>2
PART I -- FINANCIAL INFORMATION

Iron Eagle Group, Inc.

Item 1. Financial Statements

Condensed Balance Sheets, March 31, 2010 (unaudited) and June 30, 2009
Condensed Unaudited Statements of Operations For Each of the Three and
Nine Months Periods ended March 31, 2010 and 2009
Condensed Unaudited Statements of Cash Flows For Each of the Nine
Months Periods ended March 31, 2010 and 2009
Notes to the Condensed Financial Statements



<PAGE>3
                        Iron Eagle Group, Inc.
                   (formerly Pinnacle Resources, Inc.)
                        Condensed Balance Sheets
<TABLE>
                               ASSETS
                                                       As of            As of
                                                      March 31,        June 30,
                                                         2010            2009
                                                      ----------    ------------
                                                      (unaudited)

                                                       <c>             <c>
Current assets:
  Cash                                             $       329      $   326,136
  Restricted cash                                            -          250,000
  Sublease rent receivable                               9,500            2,500
  Debt securities and notes receivable to
    affiliates, net of collectability reserve
    of $0 and $675,000                                       -                -
  Interest receivable on affiliate debt securities
    and notes receivable, net of collectability
    reserve of $0 and $22,647                            1,525                -
  Advances                                              34,008                -
  Notes receivable                                     140,000                -
  Deposit-legal fees                                         -            5,549
                                                   -----------      -----------
Total current assets                                   186,362          584,185
                                                   -----------      -----------
Equipment and leasehold improvements, net of
 accumulated depreciation of $14,151 and $12,392         3,714            5,473
Available for sale marketable securities of affiliates       -                -
Mining rights                                                -           21,000
                                                   -----------      -----------
Total assets                                       $   189,076      $   610,658
                                                   ===========      ===========

             LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Accounts payable and accrued liabilities         $    47,457      $   142,784
  Capital lease - current                                2,463            2,252
  Related party payables                                22,700                -
  Line of credit                                        46,875                -
                                                   -----------      -----------
Total current liabilities                              119,495          145,036
Capital lease                                            1,813            3,688
                                                   -----------      -----------
Total liabilities                                      121,308          148,724
                                                   -----------      -----------
Commitments and contingencies
Stockholders' equity:
  Preferred stock, par value $0.0001 per share;
   authorized 20,000,000 shares, issued and
   outstanding -0- shares                          $         -      $         -
  Common stock, $.00001 par value, 875,000,000
   shares authorized, 405,969,375 and 31,477,550
   shares issued and outstanding                         4,060              315



<PAGE>4

Additional paid-in capital                           3,842,969        3,816,714
Other comprehensive income                            (180,000)        (180,000)
Accumulated deficit                                 (3,599,261)      (3,175,095)
                                                   -----------      -----------
Total stockholders' equity                              67,768          461,934
                                                   ===========      ===========
Total liabilities and stockholders' equity         $   189,076      $   610,658
                                                   ===========      ===========
</TABLE>


The accompanying notes are an integral part
of the financial statements



<PAGE>5
                          Iron Eagle Group, Inc.
                   (formerly Pinnacle Resources, Inc.)
                    Condensed Statements of Operations
                                (unaudited)
<TABLE>
                                   For the Nine-Month Period    For the Three-Month Period
                                         Ended March 31,            Ended March 31,
                                       2010         2009         2010         2009
                                    ----------   ----------   ----------   ----------
                                    (unaudited)  (unaudited)  (unaudited)  (unaudited)

                                     <c>           <c>          <c>           <c>
Operating expenses:
Salaries                            $  104,146   $  204,000    $   24,139   $	 48,000
Professional fees                       55,150       46,064        29,340      17,355
General and administrative              85,072      162,786        24,092      32,907
Impaired mining claims                  21,000            -        21,000           -
Bad debt expense                       223,131            -       (26,869)          -
                                    ----------   ----------    ----------   ---------
Total operating expenses               488,499      412,850        71,702      98,262
                                    ----------   ----------    ----------   ---------
Operating loss                        (488,499)    (412,850)      (71,702)    (98,262)
                                    ----------   ----------    ----------   ---------
Other income (expense):
Interest income                          2,176       15,065             -       9,022
Interest expense                        (1,294)        (301)         (435)         (3)
Restructuring gain on receivable
 from sale of subsidiary                     -    1,017,285             -           -
Other income (expense)                  63,451        1,620         3,910       1,864
                                    ----------   ----------    ----------   ---------
Other income                            64,333    1,033,669         3,475      10,883
                                    ----------   ----------    ----------   ---------
Income (loss) from continuing
 Operations                           (424,166)     620,819       (68,227)    (87,379)
                                    ----------   ----------    ----------   ---------
Income tax expense                           -      261,806             -      78,883
                                    ----------   ----------    ----------   ---------
Net income (loss) from continuing
 Operations                           (424,166)     359,013       (68,227)   (166,262)
                                    ----------   ----------    ----------   ---------
Discontinued operations:
Loss on discontinued operations,
 net of taxes                                -     (383,848)            -      (2,818)
                                    ----------   ----------    ----------   ---------
Net loss                            $ (424,166)  $  (24,835)   $  (68,227)  $(169,080)
                                    ==========   ==========    ==========   =========
Earnings (loss) per share - Basic:
Continuing operations               $    (0.01)  $     0.02    $     0.00   $   (0.01)
Discontinued operations                   0.00        (0.02)         0.00        0.00
                                    ----------   ----------    ----------   ---------
Net income (loss)                   $    (0.01)  $     0.00    $     0.00   $   (0.01)
                                    ==========   ==========    ==========   =========
Earnings (loss) per share - Diluted:
Continuing operations               $    (0.01)  $     0.02    $     0.00   $   (0.01)
Discontinued operations                   0.00        (0.02)         0.00        0.00
                                    ----------   ----------    ----------   ---------


<PAGE>6

Net income (loss)                   $    (0.01)  $     0.00    $     0.00   $   (0.01)
                                    ----------   ----------    ----------   ---------
Weighted average number of shares
 outstanding:
-Basic                              32,324,265   22,477,550    32,477,550  22,477,550
                                    ==========   ==========    ==========  ==========
-Diluted                            32,324,265   23,477,550    32,477,550  23,477,550
                                    ==========   ==========    ==========  ==========
</TABLE>


<PAGE>7
                          Iron Eagle Group, Inc.
                   (formerly Pinnacle Resources, Inc.)
                    Condensed Statements of Operations
                                (unaudited)
<TABLE>
                                                         For the Nine Month Period
                                                              Ended March 31,
                                                         2010               2009
                                                         ----               ----
                                                      (unaudited)       (unaudited)

                                                       <c>               <c>
Cash flows provided by (used in)
 operating activities:
  Net income (loss)                                    $(424,166)        $ (24,835)
  Net loss from discontinued operations                        -          (383,848)
                                                       ---------         ---------
  Net income (loss) from continuing operations          (424,166)          359,013
    Adjustments to reconcile net income (loss) to net
     cash (used in) provided by operating activities:
      Depreciation                                         1,759                 -
      Write off sublease rent receivable                       -            (5,000)
      Impairment of investments                                -             1,840
      Restructuring of Van Mag receivable                      -        (1,017,285)
      Loss on currency translation                             -           421,823
      Tax benefit from deferred tax asset                      -          (110,437)
      Tax expense from deferred tax liability                  -           253,915
      Write-off of mining rights                          21,000                 -
  Changes in operating assets and liabilities:
    Sublease rent receivable                              (7,000)           24,000
    Prepaid legal fees                                     5,549              (549)
    Interest receivable                                   (1,525)          (13,202)
    Accounts payable and accrued liabilities             (95,327)          (41,452)
                                                       ---------         ---------
  Net cash used in operating activities of continuing
   Operations                                           (499,710)         (511,182)
  Net cash used in discontinued operations                     -          (731,402)
                                                       ---------         ---------
Net cash provided by (used in) operating activities     (499,710)       (1,242,584)
                                                       ---------         ---------
Cash flows used in investing activities:
  Advances                                               (34,008)                -
  Issuance of note receivable - unsecured               (140,000)                -
  Restricted Cash                                        250,000                 -
  Issuance of note receivable - secured                        -          (450,000)
  Proceeds from sale of investments                            -            11,160
  Sale of subsidiary (Van Mag)                                 -         1,584,740
                                                       ---------         ---------

Net cash used in investing activities                     75,992         1,145,900
                                                       ---------         ---------


<PAGE>8

Cash flows provided by (used in) financing activities:
  Proceeds from exercise of stock options                 20,000                 -
  Proceeds from related party                             22,700                 -
  Advance related to contingent acquisition               10,000
  Proceeds from line of credit                            50,000                 -
  Payments on line of credit                              (3,125)                -
  Payments on capital lease                               (1,664)                -
                                                       ---------         ---------
Net cash used in financing activities                     97,911                 -
Net increase (decrease) in cash                         (325,807)          (96,684)
Cash - beginning of period                               326,136           207,250
                                                       ---------         ---------
Cash - end of period                                   $     329         $ 110,566
                                                       =========         =========

Supplemental Cash Flow Information

                                                    For the Nine-Month Period
                                                          Ended March 31,
                                                      2010               2009
                                                      ----               ----
                                                  (unaudited)        (unaudited)
Cash paid for:
Interest                                            $       -        $      301
Taxes                                               $       -        $        -

Non - Cash Items
Shares issued at par value, being held in escrow    $   3,735        $        -
pending completion of contingent agreement

Currency translation effect on receivable
from sale of subsidiary                             $       -        $  864,072
</TABLE>
The accompanying notes are an integral part
of the financial statements



<PAGE>9
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

1.  Description of the Company's Business

Iron Eagle Group, Inc. (formerly Pinnacle Resources, Inc.) ("we" "our"
"us" or the "Company") was incorporated under the laws of Wyoming in
January 1995.  In March 2010, we re-domiciled in Delaware and changed
our name to Iron Eagle Group, Inc. We engage in exploring for and
developing natural resources.  In January 2010, we entered into an
agreement to acquire a company that acquires construction,
infrastructure or related companies (Note 10).  At March 31, 2010, the
acquisition agreement had not been executed.

2.  Summary of Significant Accounting Policies

Basis of presentation
Our financial statements previously included the accounts of the
Company and our discontinued South African subsidiary; wholly owned
Diamonaire Exploration (Pty) (Ltd) (for the year ended June 30, 2009)
("Diamonaire").  All past significant intercompany balances and
transactions were eliminated.

In June 2008, the Company adopted a plan to discontinue the operations
of Diamonaire. The plan anticipated that the operations would be sold
within a one year period during which the subsidiary's operations were
to be continued.  The Company abandoned Diamonaire in April 2009 due to
the costs of continuing the operations and the lack of potential
buyers.  Diamonaire's statement of operations for the three and
nine-month periods ended December 31, 2009 are recorded as discontinued
operations (Note 7 - Discontinued operations).

We made certain reclassifications to prior-period amounts to conform to
the three and nine-month 2009 presentations. We are responsible for the
unaudited financial statements included in this document.  The
financial statements include all normal and recurring adjustments that
are considered necessary for the fair presentation of our financial
position and operating results.  The information included in this
Quarterly Report on Form 10-Q should be read in conjunction with the
financial statements and accompanying notes included in our Annual
Report on Form 10-K for the year ended June 30, 2009.

Preparing the Company's financial statements in conformity with
accounting principles generally accepted in the United States of
America ("GAAP") requires management to make estimates and assumptions
that affect reported amounts of assets and liabilities and the reported
amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.

Significant Estimates
The most significant estimates relate to the allowances for
uncollectible receivables, valuation of available-for-sale equity



<PAGE>10
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

securities, deferred taxes and contingencies. These estimates may be
adjusted as more current information becomes available, and any
adjustment could be significant.

Fair Value of Financial Instruments
We utilize the market approach to measure fair value of our financial
assets. The market approach uses prices and other relevant information
generated by market transactions involving identical or comparable
assets. The standard describes a fair value hierarchy based on three
levels of inputs, of which the first two are considered observable and
the last unobservable, that may be used to measure fair value which are
the following:

  Level 1:    Quoted prices (unadjusted) in active markets that are
accessible at the measurement date for assets or liabilities. The fair
value hierarchy gives the highest priority to Level 1 inputs.
  Level 2:    Observable prices that are based on inputs not quoted on
active markets, but corroborated by market data.
  Level 3:    Unobservable inputs are used when little or no market
data is available. The fair value hierarchy gives the lowest priority
to Level 3 inputs.

In determining fair value, we utilize valuation techniques that
maximize the use of observable inputs and minimize the use of
unobservable inputs to the extent possible.

The carrying values of our cash, cash equivalents, marketable
securities of affiliate, and financing proceeds receivables carried at
fair value as of March 31, 2010, are classified in the table below into
one of the three category levels described above:
<TABLE>
                                        Level 1      Level 2    Level 3	  Total
                                        -------      -------    -------   -----

                                       <c>          <c>         <c>      <c>
Cash & equivalents                     $    329     $      -   $      -  $      -
Marketable securities of affiliate     $      -     $      -   $      0	 $      -
                                       --------     --------   --------  --------
Cash, cash equivalents, and
  marketable securities                $      -     $      -   $      -  $      -
</TABLE>
As of March 31, 2010, our cash and cash equivalents were held at major
financial institutions.  These investments are insured by the Federal
Deposit Insurance Corporation; however, they are not insured against
the possibility of a complete loss of earnings or principal and are
inherently subject to the credit risk related to the continued credit
worthiness of the underlying issuer and general credit market risks.
In a series of transactions (Note 3, Note 9), the Company acquired
1,795,500 restricted common shares of The Saint James Company (Saint

<PAGE>11
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

James) (ticker STJC.PK).  The Saint James shares had a fair value of $0
at March 31, 2010.  Saint James is not current with its SEC filings and
trades in an inactive market.  The value of the shares was based on
Level 3 inputs.

Comprehensive Income
Comprehensive income is calculated in accordance with authoritative
guidance that requires the disclosure of all components of
comprehensive income, including net income and changes in equity during
a period from transactions and other events and circumstances generated
from non-owner sources.

Cash, Cash Equivalents and Credit Risk
Cash and cash equivalents include all cash balances and highly liquid
investments with an initial maturity of three months or less. The
Company places its temporary cash investments with high credit quality
financial institutions. At times, it is possible that such investments
may be in excess of the Federal Deposit Insurance Corporation (FDIC)
insurance limit.  At March 31, 2010, the Company's deposits did not
exceed the United States FDIC federally insured limit of $250,000 per
bank.

Restricted Cash
At June 30, 2009, the Company had restricted cash of $250,000
identified to support a debenture credit facility in which it was the
lender.  In July 2009, the debtor drew down the $250,000.  There is no
restricted cash at March 31, 2010.

Debt and Marketable Equity Securities
The Company classifies its debt and marketable equity securities into
held-to-maturity, trading, or available-for-sale categories. Debt
securities are classified as held-to-maturity when the Company has the
positive intent and ability to hold the securities to maturity. Debt
securities for which the Company does not have the intent or ability to
hold to maturity are classified as available for sale. Held-to-maturity
securities are recorded as either short-term or long-term on the
balance sheet based on contractual maturity date and are stated at
amortized cost. Marketable securities that are bought and held
principally for the purpose of selling them in the near term are
classified as trading securities and are reported at fair value, with
unrealized gains and losses recognized in earnings. Debt and marketable
equity securities not classified as held-to-maturity or as trading are
classified as available-for-sale and are carried at fair market value,
with the unrealized gains and losses, net of tax, included in the
determination of comprehensive income and reported in shareholders'
equity.



<PAGE>12
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

Notes and Other Receivables
Management evaluates notes receivable for collectability and records an
allowance, if appropriate, based on management's best estimate of
probable losses, including specific allowances for known troubled
notes. Notes receivables are reviewed at least quarterly, and those
notes with amounts that are judged to be uncollectible are reduced to
their estimated realizable value.

When a note receivable secured with collateral is determined to be
impaired, the note is reduced to its fair value and the allowance for
doubtful accounts is charged less the estimated fair value of the
collateral.

For other receivables, the allowance for doubtful accounts is based on
management's assessment of the collectability of the specific account.
Management has determined that it is not necessary to record an
allowance for doubtful accounts on notes receivable at March 31, 2010.
Equipment and Depreciation

We carry property and equipment at historical cost. Equipment is
depreciated on a straight-line basis over its estimated useful life
(generally 5 to 7 years). Leasehold improvements are amortized over the
shorter of the estimated useful life or lease term. Maintenance and
repairs are expensed as incurred. Major renewals and improvements that
extend the life of the property are capitalized.  Expenditures for
major renewals and betterments, which extend the useful lives of
existing equipment, are capitalized and depreciated.  Upon retirement
or disposition of property and equipment, the cost and related
accumulated depreciation are removed from the accounts and any
resulting gain or loss is recognized in the statements of operations.

We review long-lived assets, including property and equipment, for
impairment whenever events or changes in business circumstances
indicate that the carrying amount of the assets may not be fully
recoverable. If impairment is indicated, we reduce the carrying value
of the asset to fair value.

Basic and Diluted Earnings (Loss) Per Share
Basic net earnings (loss) per common share is computed by dividing net
earnings (loss) applicable to common shareholders by the
weighted-average number of common shares outstanding during the period.
Diluted net earnings (loss) per common share is determined using the
weighted-average number of common shares outstanding during the period,
adjusted for the dilutive effect of common stock equivalents,
consisting of shares that might be issued upon exercise of common stock
options. In periods where losses are reported, the weighted-average
number of common shares outstanding excludes common stock equivalents,
because their inclusion would be anti-dilutive.  There are no
potentially dilutive common stock equivalents at March 31, 2010.

<PAGE>13
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

Income Taxes
Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to differences between the financial
statement carrying amounts of existing assets and liabilities and their
respective tax bases. Deferred tax assets, including tax loss and
credit carryforwards, and liabilities are measured using enacted tax
rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled. The
effect on deferred tax assets and liabilities of a change in tax rates
is recognized in income in the period that includes the enactment date.
Deferred income tax expense represents the change during the period in
the deferred tax assets and deferred tax liabilities. The components of
the deferred tax assets and liabilities are individually classified as
current and non-current based on their characteristics. Deferred tax
assets are reduced by a valuation allowance when, in the opinion of
management, it is more likely than not that some portion or all of the
deferred tax assets will not be realized.

Concentrations of operations outside the our home country
Substantially all of our past operations have been conducted in the
Republic of South Africa.  As such, we were subject to the South
African laws and regulations, including currency restrictions and tax
laws. At March 31, 2010, all foreign operations had been previously
abandoned.

Foreign currency adjustments
The U.S. dollar is the functional currency of the Company's worldwide
continuing operations. All foreign currency asset and liability amounts
are remeasured into U.S. dollars at end-of-period exchange rates,
except for inventories, prepaid expenses and property, plant and
equipment, which are remeasured at historical rates. Foreign currency
income and expenses are remeasured at average exchange rates in effect
during the year, except for expenses related to balance sheet amounts
remeasured at historical exchange rates. Exchange gains and losses
arising from remeasurement of foreign currency denominated monetary
assets and liabilities are included in income in the period in which
they occur.  In fiscal year 2008 and prior years the resulting
translation adjustments were recorded directly into operating results
of the foreign subsidiaries and presented in the results of
discontinued operations.
New accounting pronouncements

In June 2009, the Financial Accounting Standards Board (FASB) issued a
standard that established the FASB Accounting Standards Codification
(ASC) and amended the hierarchy of generally accepted accounting
principles (GAAP) such that the ASC became the single source of
authoritative nongovernmental U.S. GAAP. The ASC did not change current
U.S. GAAP, but was intended to simplify user access to all
authoritative U.S. GAAP by providing all the authoritative literature

<PAGE>14
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

related to a particular topic in one place. All previously existing
accounting standard documents were superseded and all other accounting
literature not included in the ASC is considered non-authoritative. New
accounting standards issued subsequent to June 30, 2009 are
communicated by the FASB through Accounting Standards Updates (ASUs).
As it relates to the Company, the Codification is effective July 1,
2009.  This standard did not have an impact on the Company's results of
operations or financial condition. Throughout the notes to the
financial statements, references that were previously made to various
former authoritative U.S. GAAP pronouncements have been changed to also
include the appropriate section of the ASC.

In May 2009, the FASB issued ASC 855, authoritative guidance that
already existed within generally accepted auditing standards,
concerning recognition and disclosure of subsequent events. This
guidance addresses events which occur after the balance sheet date but
before the issuance of financial statements. As under previous
practice, an entity must record the effects of subsequent events that
provide evidence about conditions that existed at the balance sheet
date and must disclose but not record the effects of subsequent events
which provide evidence about conditions that did not exist at the
balance sheet date.

In February 2010, the FASB issued Accounting Standards Update 2010-09,
Amendments to Certain Recognition and Disclosure Requirements, which
amended ASC 855 and which requires issuers of financial statements to
evaluate subsequent events through the date on which the financial
statements are issued.  FASB 2010-09 defines the term "SEC Filer" and
eliminates the requirement that an SEC filer disclose the date through
which subsequent events have been evaluated.  This change was made to
alleviate potential conflicts between ASC 855-10 and the reporting
requirements of the SEC.  FASB 2010-09 is effective immediately, but is
not expected to have a material effect on the Company's financial
statements.

ASC 805 provides guidance on business combinations and requires an
acquiring company to recognize the assets acquired, the liabilities
assumed, and any non-controlling interest in the acquired entity at the
acquisition date, measured at their fair values as of that date, with
limited exceptions.  ASC 805 also requires the acquiring company in a
business combination achieved in stages to recognize the identifiable
assets and liabilities, as well as the noncontrolling interest in the
acquired company, at the full amounts of their fair values.  ASC 805
makes various other amendments to authoritative literature intended to
provide additional guidance or to confirm the guidance in that
literature to that provided in this Statement.  ASC 805 is effective
for the Company's financial statements beginning July 1, 2009.  The
adoption of ASC 805 has not had a material impact on the Company's
financial statements.



<PAGE>15
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

In January 2010, the FASB issued Accounting Standards Update 2010-06,
Improving Disclosures about Fair Value Measurements, which amends ASC
820-10 and requires, among other things, new disclosures regarding the
transfers in and out of hierarchy levels 1 and 2 as well as the gross
presentation of changes in estimated measurements for level 3
measurements.  In addition, FASB 2010-06 provides clarifying direction
with respect to disclosures regarding the various levels of
disaggregation and about specific inputs and valuation techniques.
FASB 2010-06 is effective for interim and annual reporting periods
beginning after December 31, 2009, except for the gross presentation of
level 3 measurement activities, which is effective for fiscal years
beginning after December 15, 2010.  The adoption of FASB 2010-06 is not
expected to have a material effect on the Company's financial
statements.

3.	Related Party Transactions

Consulting Services
During the three and nine-month periods ended March 31, 2009, we paid
affiliated companies $20,000 and $25,000, respectively, for consulting
services. Our CEO and CFO are executives with the affiliated companies.
In 2009, these amounts are included in the loss from discontinued
operations.  There were no such payments for the three and nine-month
periods ended March 31, 2010.

Debt Securities and Notes Receivable

                                                       As of
                                                      June 30,
                                                       2009
                                                    -----------
Corporate notes receivable to affiliates
  - held to maturity                                 $  425,000
Corporate debenture to affiliate - held to maturity     250,000
                                                     ----------
Debt securities - held to maturity, before impairment   675,000
Collectability reserve for temporary impairment      $ (675,000)
                                                     ----------
Debt securities to affiliates - held to maturity     $        -
                                                     ==========

Collateralized
In November 2008, the Company loaned $250,000 to two entities that had
pledged as collateral certain financial assets.  The note receivable
had an interest rate with an APR of 6.82%.  The principal and interest
was due in one year.  The two entities are 10% shareholders of the
Company. In October 2009, the note receivable and related accrued



<PAGE>16
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009


interest was satisfied through the issuance of 265,500 shares of the
common stock of The Saint James Company.  The Saint James shares that
were received as satisfaction of the note receivable and accrued
interest have no value and are carried at zero value since the note
receivable was fully reserved at the transaction date.  At March 31,
2010, the Saint James shares were deemed to still have no value.  These
Saint James shares will be marked to market at each reporting date and
recorded as other comprehensive income.

Straight Convertible Debenture Agreement
In June 2009, the Company entered into a $500,000 straight convertible
debenture agreement with Saint James.  The debenture agreement was
without collateral and bore an annual interest rate of the Wall Street
Journal prime rate plus 8%.  All principal and accrued interest was to
be due June 30, 2010 and was convertible at the option of the Company
into shares of the common stock of Saint James at $0.50 per share.  In
June 2009, the Company advanced $250,000 of the debenture to Saint
James and in July 2009, the Company advanced the remaining $250,000 of
the $500,000 debenture agreement.  At December 31, 2010, it was
determined that Saint James would not be able to repay the note and the
entire $500,000 and accrued interest was fully reserved for
collectability.  On January 6, 2010, the $500,000 debenture was
converted into 1,000,000 common shares of The Saint James Company at
the conversion price of $0.50 per share.  As incentive for the
conversion, Saint James agreed to pay the accrued interest on these
notes, totaling $21,235 at the date of conversion.  The fair value of
the Saint James shares at the time of conversion was $0.

Modification of the Uncollateralized Notes Receivable
Concurrent with entering into the straight convertible debenture
agreement, the Company's then existing $150,000 and $25,000 notes
receivable were modified to provide for the notes' outstanding balances
to in whole or in part be converted at the Company's option into shares
of the common stock of Saint James at $0.50 per share.  On January 6,
2010, these notes receivable were converted into 350,000 common shares
of The Saint James Company at the conversion price of $0.50 per share.
As incentive for the conversion, Saint James agreed to pay the accrued
interest on these notes, totaling $26,013 at the date of conversion.
The fair value of the Saint James shares at the time of conversion was
$0.

Available for Sale Marketable Securities of Affiliate

At March 31, 2010, the Company held 1,795,500 shares of Saint James
common stock for investment purposes.  The fair value of the marketable
securities is $0 at March 31, 2010.  The reduction to fair value for
these shares is shown as a component of equity as other comprehensive
loss.

<PAGE>17
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

4.	Notes Receivable
In July and August 2009, the Company loaned a consultant a total of
$140,000 in three payments.  The loans bear interest at 6% and are
currently past due.

5.	Property and equipment
Our office equipment and furniture, with a cost basis of $10,242, was
fully depreciated prior to the periods that are being reported upon.
As the office equipment and furniture is still being used by the
Company, its fully depreciated costs are carried on its books at March
31, 2010.

In August 2008, the Company entered a lease agreement for a copier for
39 months which is classified as a capital lease.  Accordingly, the
Company capitalized the capital lease and the capital lease obligation.
The Company recognized depreciation expense of $708, $1,294, $301 and
$301 for the three and six-month periods ended March 31, 2010 and 2008,
respectively.

The capital lease obligation matures in each of the following years
ending June 30:

2010 (remainder of year)                              $   711
2011                                                    2,844
2012                                                    1,185
                                                      -------
Total                                                   4,740
Less: amount representing
 interest on capital lease payments                       464
                                                      -------
Present value of minimum capital lease payments       $ 4,276
Current portion of capital lease                      $ 2,463
                                                      -------
Long-term portion of capital lease                    $ 1,813
                                                      =======
6.	Commitments and Contingencies

Legal actions
Certain conditions may exist as of the date the combined financial
statements are issued, which may result in a loss to the Company, but which
will only be resolved when one or more future events occur or fail to occur.
The Company's management and its legal counsel assess such contingent
liabilities, and such assessment inherently involves an exercise of
judgment. In assessing loss contingencies related to legal proceedings that
are pending against the Company or unasserted claims that may result in such
proceedings, the Company's legal counsel evaluates the perceived merits of
any legal proceedings or unasserted claims as well as the perceived merits
of the amount of relief sought or expected to be sought therein.



<PAGE>18
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

If the assessment of a contingency indicates that it is probable that a
material loss has been incurred and the amount of the liability can be
estimated, then the estimated liability would be accrued in the Company's
combined financial statements. If the assessment indicates that a
potentially material loss contingency is not probable but is reasonably
possible, or is probable but cannot be estimated, then the nature of the
contingent liability, together with an estimate of the range of possible
loss if determinable and material, would be disclosed.

Loss contingencies considered remote are generally not disclosed unless they
involve guarantees, in which case the guarantees would be disclosed.

The Company is party to an ongoing lawsuit in the High Court of South Africa
related to the sale of the Company's ownership of the VanMag subsidiary.
The buyer of the Company's ownership interest has released the Company from
any liability in the matter.  As such, the Company does not expect to incur
any future expenses related to this matter.

Going Concern and Management's Plan
The Company has incurred net losses from continuing operations for the nine
month period ended March 31, 2010 of $61,727 and has an accumulated deficit
of $3,592,761 at March 31, 2010. The Company has cash available in the
amount of approximately $329 as of March 31, 2010.  The Company has
historically relied on its ability to raise money through debt and the sale
of stock to meet its cash flow requirements. The preceding factors raise
substantial doubt about the Company's ability to continue as a going
concern.  As a result, the Company will need additional funds to sustain the
pursuit of operations and meet current corporate obligations.

Lease Commitments
We lease office space and equipment under noncancelable operating leases
with terms of three years.  The following is a schedule by years of future
minimum rentals under the leases for the years ending June 30:

Year                          Amount
----                          ------
2010 (remainder of year)      $  4,408
2011                            17,895
2012                             9,078
2013                                 -
2014 and thereafter                  -
                              --------
Total                         $ 31,381
                              ========

The Company recognized rental expense of $8,898, $26,475, $17,979, and
$31,777 for the three and nine-month periods ended March 31, 2010 and 2009,
respectively.  The Company occupies its Englewood, Colorado facility under a



<PAGE>19
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

rental agreement that has a lease term that was to expire in December 2008.
On October 1, 2008, the Company entered into an agreement to extend the
lease term for an additional 36 months ending December 2011.

The Company subleases space in its office to two tenants.  Sublease income
for the three and nine month periods ended March 31, 2010 and 2009 was $0,
$2,000, $13,000 and $22,000, respectively.  All sublease income is treated
as a reduction in rent expense.

7.	Discontinued operations

The following foreign subsidiary has been abandoned and is classified as
discontinued operations for the three and nine-month periods ended March 31,
2009.

Diamonaire Exploration (Pty) (Ltd)
In June 2008, the Company adopted a plan to discontinue the operations of
Diamonaire.  This plan anticipated that the operations would be sold or
abandoned within a one year period during which the activities of Diamonaire
were to continue.  The Company was unable to sell Diamonaire and the entity
was abandoned in April 2009.  Diamonaire's loss, reported in discontinued
operations, for the three and nine month periods ended March 31, 2009 was
$2,818 and $383,848. The entity has been classified as discontinued
operations for the three and nine month periods ended March 31, 2009.  The
balance sheet was written off upon the abandonment in April 2009.

8.	Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by
the weighted-average number of common shares outstanding during the period.
Diluted earnings (loss) per share is computed by dividing net income(loss)
by the weighted-average number of common shares and dilutive potential
common shares outstanding during the period. The computation of basic
earnings (loss) per share and diluted earnings per share for "Income from
continuing operations" is as follows:
<TABLE>
                                For the Nine Month Periods    For the Three Month Periods
                                     Ended March 31,                Ended March 31,
                                  2010           2009         2010             2009
                                  ----           ----         ----             ----
                                (unaudited)   (unaudited)  (unaudited)      (unaudited)

                                <c>            <c>          <c>              <c>
Income (loss) from continuing
 operations                      $(424,666)   $   359,013    $ (68,227)     $  (166,262)
                                ==========    ===========    =========      ===========
Weighted-average number of
 common shares outstanding
  - Basic                       32,324,265     22,477,550   32,477,550       22,477,550



<PAGE>20
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

Effect of dilutive securities
 - Stock options                         -      1,000,000            -        1,000,000
                                ----------    -----------   ----------       ----------
Weighted-average number of
 common shares outstanding
 - Diluted                      32,324,265     22,477,550   32,477,550       22,477,550
                                ==========     ==========   ==========       ==========
Net earnings per share from
 continuing operations:
 Basic                              $(0.01)        $ 0.02     $ 0.00            $(0.01)
                                    ======         ======      ======           =======
 Diluted                            $(0.01)        $ 0.02     $ 0.00            $(0.01)
                                    ======         ======      ======           =======
</TABLE>
9.	Equity

Preferred Stock
In January 2010 we re-domiciled the Company from Wyoming to Delaware.  At
that time, we modified the terms of our Preferred class of stock, changing
the par value from $0.01 to $0.00001 and the number of shares authorized
from 2,000,000 to 20,000,000.

Capital Contribution
As part of the pending acquisition agreement described in Note 10, a $10,000
advance was received.  We recorded it as a capital contribution.  In the
event that the acquisition terms are not met, the amount does not need to be
repaid.  If the acquisition is successful, the amount owed will be to a
wholly owned subsidiary of the Company.

Stock Issuances
In June 2009, we issued 9,000,000 common shares to affiliated entities in
exchange for 180,000 common shares of The Saint James Company (STJC.PK)
(Saint James).  The fair value of the shares at the time of acquisition was
$180,000, based on level 3 fair value inputs.  Events occurring after the
transaction resulted in the shares temporarily losing all value.  At March
31, 2010, the fair value of the shares acquired was $0.  The temporary loss
is shown as other comprehensive income.  The Saint James shares are
restricted for one year. A term of this transaction which prohibited the
Company from owning more than 4.99% of the outstanding shares of Saint James
at any time was waived by Saint James in January 2010.

In August 2009, 1,000,000 common shares were issued in a stock option
exercise transaction.  The exercise price of each option was $0.02,
resulting in a total transaction amount of $20,000.

On January 8, 2010, the Company issued 373,491,825 shares of its common
stock from treasury in accordance with the contingent agreement described in
Note 10.  The shares were placed into escrow pending completion of the



<PAGE>21
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

Acquisition Requirement.  The shares were issued at par value and will be
returned to the Company and cancelled if the Acquisition Requirement is not
met by October 8, 2010.

Stock options
In May 2004, we granted a Director an option to purchase 1,000,000 shares of
our common stock at $.13 per share.  The options vested immediately and
expire five years from the grant date. The fair value of the options were
estimated at $22,000.  In November 2008, we modified the terms of the
options to extend the expiration date to November 2010 and to reduce the
strike price to $0.02 per share.  The fair value for these options was
estimated at $16,300 at the date of modification using the Black-Scholes
option-pricing model with the following assumptions:

Risk free interest rate                       1.19%
Volatility                                     101%
Dividend                                       -0-
Weighted average expected life               2 years

The following schedule summarizes our stock option activity:
<TABLE>
                                           Weighted          Weighted
                                           Average            Average      Aggregate
                                           Exercise          Remaining     Intrinsic
                               Options       Price             Term	      Value
                               -------     --------          ---------     ---------

                               <c>          <c>               <c>           <c>
Outstanding at June 30, 2008   1,000,000    $   0.13             0.85             -
                               =========    ========         ========      ========
Options granted                        -           -                -             -
Options exercised                      -           -                -             -
Options expired                        -           -                -             -
                               ---------    --------         --------      --------
Outstanding at June 30, 2009   1,000,000    $   0.02             1.35      $ 25,000
Options granted                        -           -                -             -
Options exercised              1,000,000           -                -             -
Options expired                        -    $      -                -             -
                               ---------    --------         --------      --------
Outstanding at March 31,
  2010                                 -    $      -                -             -
                               =========    ========         ========      ========
</TABLE>


<PAGE>22
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

10.	Subsequent Events

Incomplete Contingent Agreement
On January 8, 2010, the Company agreed in principal to the terms of a
share exchange agreement (the "Agreement") with Iron Eagle Group, a
Nevada corporation ("Iron Eagle") and the shareholders of Iron Eagle
("Iron Eagle Shareholders"). The three groups have not as of yet
completed all of the terms necessary to complete the Agreement.

Pursuant to certain terms of the Agreement, the Company will issue from
its treasury an aggregate of 373,491,825 shares of its common stock
(the "Agreement Shares") to the Iron Eagle Shareholders.  In exchange,
the Iron Eagle Shareholders will surrender all of their issued and
outstanding Iron Eagle one-class common stock.  The Agreement shares
are to be held by an escrow agent until Iron Eagle completes the
"Acquisition Requirement".  However, the Iron Eagle Shareholders have
voting rights on the Agreement Shares by means of a voting trust
through the escrow agent while the shares are in Trust and the
Agreement is pending.

The Acquisition Requirement requires that, on or before October 8,
2010:

   (i)  Iron Eagle shall acquire one or more construction,
infrastructure or related companies with aggregate fiscal 2009 or last
twelve months audited EBITDA, adjusted for non-recurring expenses, of
at least $1,800,000; or
   (ii)  The Company's Board of Directors unanimously votes to
authorize the release of the Agreement Shares.

If Iron Eagle fails to meet the Acquisition Requirement, the Agreement
Shares will be returned by the escrow agent to the Company.

The Company has reviewed Iron Eagle's plan to complete the Acquisition
Requirement and has concluded there is significant uncertainty as to
completing the Acquisition Requirement.  Based on this determination,
the Agreement is not recognized at this time and its fair value is not
reliably measurable.

Additionally, the Company is still required to transfer the Agreement
Shares to the escrow agent and Iron Eagle is still required to make
certain required payments that are necessary prior to the close of the
Agreement support the fact that the Agreement did not close as of March
31, 2010 nor as of the date of this report.

As part of the Agreement, Iron Eagle provided a $10,000 advance to the
Company in January 2010.  In the event that Iron Eagle fails to
complete its performance obligations under either the Agreement or the
Acquisition Requirement, the Company is released from its obligation to

<PAGE>23
                    Iron Eagle Group, Inc.
                (Formerly Pinnacle Resources, Inc)
           Notes to the Condensed Financial Statements
              As of March 31, 2010 and June 30, 2009 and
  For the Three and Nine Month Periods Ended March 31, 2010 and 2009

repay the $10,000 advanced funds.  Accordingly, the Company has
recognized the $10,000 advance by Iron Eagle as additional paid in
capital.

If the Agreement is completed, the Acquisition Requirement satisfied,
and the Agreement Shares are eventually released to the Iron Eagle
Shareholders; there will be a change in the ownership control of the
Company as the Iron Eagle shareholders will then own 92% of the
Company's issued and outstanding common shares.  The financial records
of the Company and Iron Eagle would then be consolidated.

New Officers and Directors
On May 4, 2010, the Board of Directors appointed Gary J. Giulietti as
the Chairman of the Board of Directors, Michael J. Bovalino as the
Company's Chief Executive Officer, and Eric J. Hoffman as the Company's
Chief Financial Officer.  Jason Shapiro, the former CFO, was appointed
as the Executive Vice President of Corporate Strategy.

Mr. Giulietti was granted 1,666,667 share of the Company's common stock
in consideration for his appointment.

Investor Relations Firm
Also on May 4, 2010, the Company entered into a services agreement with
an investor relations firm.  In satisfaction for the agreement, the
Company agreed to issue 4,350,000 shares of the Company's common stock
and a 5-year warrant to purchase up to 4,350,000 shares at a price of
$0.033 per share.





<PAGE>24

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

The following presentation of our management's discussion and analysis
should be read in conjunction with the financial statements and other
financial information included elsewhere in this report.

Basis of Presentation of the Financial Statements
Our financial statements include those of Iron Eagle Group, Inc.
(formerly Pinnacle Resources, Inc.), the parent company and our South
African subsidiary; our wholly owned subsidiary, Diamonaire Exploration
(Pty) Ltd. In June 2008, we adopted a plan to discontinue the
operations of Diamonaire.  This plan anticipated that the operations
would be sold within a one year period during which the activities of
Diamonaire would continue. We abandoned Diamonaire in April 2009 due to
the costs of continuing the operations and the lack of potential
buyers.  Diamonaire's statement of operations for the three and nine
month periods ended March 31, 2010 and 2009 is recorded as discontinued
operation.

Industry Outlook
The current global economic and financial crisis has severely hampered
our ability to obtain additional funds with which to seek additional
natural resources, construction contracts or other types of business
opportunities.  We are uncertain what potential business ventures will
be available to us in the near future, or whether, if they are
available, we will be able to obtain debt or equity financing necessary
to take advantage of those opportunities.

Results of Operations
At December 31, 2008, we had sold or adopted a plan to discontinue all
of our South African natural resource operations.  Our activities
during fiscal 2010 have been limited to the activities of our
Diamonaire subsidiary, searching for new business opportunities and
collecting the remaining receivable related to the sale of our VanMag
subsidiary.  In October 2008, we collected $1,584,740 of this
receivable and amended the terms to provide for the balance of the note
to increase to $3.75 million and to be paid in US dollars.  In November
2008, the buyer failed to pay the remaining 30,000,000 South African
Rand payment.  The Company and buyer informally agreed that the
remaining amount payable of 30,000,000 Rand would be due and payable in
the amount of $3,750,000 (US$).  This amendment resulted in a
restructuring gain of $787,037.  In May 2009, a settlement agreement
was reached whereby the Company would receive $1,000,000 and 1,000,000
South African Rand in full satisfaction of the outstanding receivable.
In addition, the Company received a royalty agreement on future sales
based on a rate of $0.50 per ton, not to exceed $3,000,000 over the
total agreement.  The Company does not anticipate receiving any
royalties arising from this agreement in the near future.  The
1,000,000 South African Rand was paid directly to Titan Processors
(Pty) Ltd of South Africa and the Company received the $1,000,000.   As
a result of the completion of the informal settlement to the Third
Addendum, the Company recognized a loss of $2,750,000 in fiscal 2009.



<PAGE>25

Three month periods ended March 31, 2010 compared to three month period
ended March 31, 2009

Net loss for the three month ended March 31, 2010 totaled $(68,227)
compared to net loss of $(169,080) in the same period in 2009 a
decrease of 60%.  The loss from our discontinued operations was $ 0 in
the three month period in 2010 and $(2,818) in the same period in 2009.

Operating expenses for the three month period ended March 31, 2010 were
$71,702 compared to $98,262 for the three month period ended March 31,
2009 a decrease of 27%.

Salary and professional costs decreased from $65,355 in the three month
period in 2009 to $53,479 (18%) during the same period in 2010.  This
decrease is the result of lower salaries and professional fees paid in
the 2010 three month period than in the corresponding period in 2009.

Our general and administrative costs decreased in the three month
period of 2010 by $8,921 (27%) compared to the same period in 2009 due
to the reduction of our operations in 2010 than in 2009.

Bad debt expense decreased in the three month period ending March 31,
2010 by $26,869(100%) compared to the same period in 2009. This
decrease resulted from the collection of previously written off accrued
interest receivable.

Interest income was $0 during the three month period March 31, 2010
compared to $9,022 for the three month period in 2009 as a result of
the decrease in our cash deposits between the two periods.

For the three month period ended March 31, 2010, we received other
income of $3,910 compared to $1,864 for the three month period ended
March 31, 2009.

Nine month period ended March 31, 2010 compared to nine month period
ended March 31, 2009

Operating expenses for the nine month period ended March 31, 2010 were
$488,499 compared to $412,851 in the nine month period ended March 31,
2009.

Salary and professional costs decreased from $250,064 in the nine month
period in 2009 to $159,296 during the same period in 2010.  This
decrease is the result lower salaries.

Our general and administrative costs of $85,072 for the nine month
period ended March 31, 2010 decreased by $77,714 (48%) from the
corresponding period in 2009 due to the reduction of our operations in
2010.

Income tax expense (benefit) during the nine period ended March 31,
2010 was $0 compared to a income tax expense of $261,806 for the
corresponding period of 2009.



<PAGE>26

Bad debt expense for the nine month period ended March 31, 2010 was
$223,131 compared to $0 in the corresponding prior period of 2009.  The
bad debt expense relates to writing off of a bad debt to an affiliate.

Restructuring gain of sale of subsidiary was $0 for the nine month
period ended March 31, 2010 compared to $1,017,285 for the nine month
period ended March 31, 2009.

For the nine month period ended March 31, 2010 we received other income
of $63,451 compared to other income of $1,620 for the nine month period
ended March 31, 2009, a decrease of 97%.

Net loss for the nine month period in 2010 totaled $(424,166) compared
to a loss of $(24,835) in the same period in 2009.  The loss from our
discontinued operations was $0 in the nine month period in 2010 and
$(383,848) in the same period in 2009.

Liquidity
March 31, 2010 compared to June 30, 2009

During the nine month period ended March 31 2010, we relied on cash
reserves related to the sale of VanMag in 2007.  Our cash position
decreased from $326,136 at June 30, 2009 to $329 at March 31, 2010,
primarily due to cash used in our operations and loans made to others.

We have no current sources of cash and we will not be able to continue
in existence if further cash resources are not obtained.

On January 6, 2010, we converted notes receivable from The Saint James
Company totaling $675,000 into 1,350,000 shares of The Saint James
Company common stock at the conversion price of $0.50 per share.  As
incentive for the conversion, Saint James agreed to pay the accrued
interest on these notes, totaling $47,248 as of December 31, 2009, in
two installments, a $27,248 immediate payment and a $20,000 payment on
February 15, 2010.  The fair value of the Saint James shares at the
time of conversion was $0.

Incomplete Contingent Agreement
On January 8, 2010, the Company agreed in principal to the terms of a
share exchange agreement with Iron Eagle Group, a Nevada corporation
and the shareholders of Iron Eagle. The three groups have not as of yet
completed all of the terms necessary to complete the Agreement.

Pursuant to certain terms of the Agreement, the Company will issue from
its treasury an aggregate of 373,491,825 shares of its common stock to
the Iron Eagle Shareholders.  In exchange, the Iron Eagle Shareholders
will surrender all of their issued and outstanding Iron Eagle one-class
common stock.  The Agreement shares are to be held by an escrow agent
until Iron Eagle completes the Acquisition Requirement.  However, the
Iron Eagle Shareholders have voting rights on the Agreement Shares by
means of a voting trust through the escrow agent while the shares are
in Trust and the Agreement is pending.



<PAGE>27

The Acquisition Requirement requires that, on or before October 8,
2010:
   (i)  Iron Eagle shall acquire one or more construction,
infrastructure or related companies with aggregate fiscal 2009 or last
twelve months audited EBITDA, adjusted for non-recurring expenses, of
at least $1,800,000; or
   (ii)  The Company's Board of Directors unanimously votes to
authorize the release of the Agreement Shares.

If Iron Eagle fails to meet the Acquisition Requirement, the Agreement
Shares will be returned by the escrow agent to the Company.

The Company has reviewed Iron Eagle's plan to complete the Acquisition
Requirement and has concluded there is significant uncertainty as to
completing the Acquisition Requirement.  Based on this determination,
the Agreement is not recognized at this time and its fair value is not
reliably measurable.

Additionally, the Company is still required to transfer the Agreement
Shares to the escrow agent and Iron Eagle is still required to make
certain required payments that are necessary prior to the close of the
Agreement support the fact that the Agreement did not close as of March
31, 2010 nor as of the date of this report.

As part of the Agreement, Iron Eagle provided a $10,000 advance to the
Company in January 2010.  In the event that Iron Eagle fails to
complete its performance obligations under either the Agreement or the
Acquisition Requirement, the Company is released from its obligation to
repay the $10,000 advanced funds.  Accordingly, the Company has
recognized the $10,000 advance by Iron Eagle as additional paid in
capital.

If the Agreement is completed, the Acquisition Requirement satisfied,
and the Agreement Shares are eventually released to the Iron Eagle
Shareholders; there will be a change in the ownership control of the
Company as the Iron Eagle shareholders will then own 92% of the
Company's issued and outstanding common shares.  The financial records
of the Company and Iron Eagle would then be consolidated.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION

Certain information set forth in this report contains "forward-looking
statements" within the meaning of federal securities laws.  Forward
looking statements include statements concerning our plans, objectives,
goals, strategies, future events, future revenues or performance,
capital expenditures, and financing needs and other information that is
not historical information. When used in this report, the words
"estimates," "expects," "anticipates," "forecasts," "plans," "intends,"
"believes" and variations of such words or similar expressions are
intended to identify forward-looking statements.  Additional forward-
looking statements may be made by us from time to time.  All such

<PAGE>28

subsequent forward-looking statements, whether written or oral and
whether made by us or on our behalf, are also expressly qualified by
these cautionary statements.

Our forward-looking statements are based upon our current expectations
and various assumptions.  Our expectations, beliefs and projections are
expressed in good faith and are believed by us to have a reasonable
basis, including without limitation, our examination of historical
operating trends, data contained in our records and other data
available from third parties, but there can be no assurance that our
expectations, beliefs and projections will result or be achieved or
accomplished.  Our forward-looking statements apply only as of the date
made.  We undertake no obligation to publicly update or revise forward-
looking statements which may be made to reflect events or circumstances
after the date made or to reflect the occurrence of unanticipated
events.

There are a number of risks and uncertainties that could cause actual
results to differ materially from those set forth in, contemplated by
or underlying the forward-looking statements contained in this report.
Those risks and uncertainties include, but are not limited to, our
history of operating losses, lack of liquidity in our common stock, our
dependence on key personnel, the expression by our auditors of
uncertainty as to our ability to continue as a going concern, and the
fact that we face substantial competition. Those risks and certain
other uncertainties are discussed in more detail in our 2007 Annual
Report on Form 10-K and our subsequent filings with the SEC.  There may
also be other factors, including those discussed elsewhere in this
report that may cause our actual results to differ from the forward-
looking statements.  Any forward-looking statements made by us or on
our behalf should be considered in light of these factors.


Item 3.  Quantitative and Qualitative Disclosures about Market Risk

We do not consider the effects of interest rate movements to be a
material risk to our financial condition.  We do not hold any
derivative instruments and do not engage in any hedging activities.


Item 4.  Controls and Procedures.

During the nine month period ended March 31, 2010, there were no
changes in our internal controls over financial reporting (as defined
in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) that have
materially affected, or are reasonably likely to materially affect, our
internal control over financial reporting.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management,
including our chief executive officer and chief financial officer, we
conducted an evaluation of our disclosure controls and procedures, as
such term is defined under Rule 13a-15(e) and Rule 15d-15(e)

<PAGE>29

promulgated under the Securities Exchange Act of 1934, as amended, as
of March 31, 2010.  Based on this evaluation, our chief executive
officer and chief principal financial officers have concluded such
controls and procedures to be effective as of March 31, 2010 to ensure
that information required to be disclosed by the issuer in the reports
that it files or submits under the Act is recorded, processed,
summarized and reported, within the time periods specified in the
Commission's rules and forms and to ensure that information required to
be disclosed by an issuer in the reports that it files or submits under
the Act is accumulated and communicated to the issuer's management,
including its principal executive and principal financial officers, or
persons performing similar functions, as appropriate to allow timely
decisions regarding required disclosure.



<PAGE>30
PART II - OTHER INFORMATION

Item 1. Legal Proceedings. The registrant is party to an action before
the High Court of South Africa brought by Anton Strauss, a former
director of VanMag Pty Ltd. In the final settlement of our share sale
agreement of the VanMag asset, the buyer agreed to hold the registrant
harmless.

Item 2. Unregistered Sale of Securities and Use of Proceeds. 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.

        Exhibit 31 - Certifications pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
        Exhibit 32 - Certifications pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002



<PAGE>31

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.

Dated:  May 20, 2010

Iron Eagle Group, Inc.

By  /s/Michael J. Bovalino
    ------------------------
    Michael J. Bovalino
    Chief Executive Officer