| Nevada                                                        |   | 20-5451302                           |
|---------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation ororganization) |   | (I.R.S. Employer Identification No.) |

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

----

| PART I: FINANCIAL INFORMATION |   | Page                                                                                        |
|-------------------------------|--------|---------------------------------------------------------------------------------------------|
| ITEM 1:                       |   | FINANCIAL STATEMENTS (Unaudited)                                                            |   | 3 |
|                          |   | Balance Sheets                                                                              |   | 3 |
|                          |   | Statements of Operations                                                                    |   | 4 |
|                          |   | Statement of Stockholder’s Equity                                                     |   | 5 |
|                          |   | Statements of Cash Flows                                                                    |   | 6 |
|                          |   | Notes to the Financial Statements                                                           |   | 7 |
| ITEM 2:                       |   | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |   | 10 |
| ITEM 3 :                      |   | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                  |   | 12 |
| ITEM 4:                       |   | CONTROLS AND PROCEDURES                                                                     |   | 13 |
| PART II: OTHER INFORMATION    |   |                                                                                        |
| Item 1                        |   | LEGAL PROCEEDINGS                                                                           |   | 14 |
| ITEM 1A :                     |   | RISK FACTORS                                                                                |   | 14 |
| ITEM 2                        |   | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS                                 |   | 14 |
| ITEM 3                        |   | DEFAULTS UPON SENIOR SECURITIES                                                             |   | 14 |
| ITEM 4                        |   | (REMOVED AND RESERVED)                                                                      |   | 14 |
| Item 5                        |   | OTHER INFORMATION                                                                           |   | 14 |
| ITEM 6:                       |   | EXHIBITS                                                                                    |   | 14 |
| SIGNATURES                    |   | 15                                                                                          |

----

|                                                                                                                                                                       |   | March 31, 2011 |       |   | December 31, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|------------|--------|-------------------|--------|
|                                                                                                                                                                       |   | (Unaudited)    |       |   |              |   |
| ASSETS                                                                                                                                                                     |   |           |       |   |              |   |
|                                                                                                                                                                       |   |           |       |   |              |   |
| CURRENT ASSETS                                                                                                                                                             |   |           |       |   |              |   |
|   Cash                                                                                                                                                           |   | $              | 71,092     |   |              | $      | 38,422 |   |
|   Prepaid expenses                                                                                                                                               |   |           | 23,734     |   |              |   | 7,563 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                         TOTAL CURRENT ASSETS       |   |           | 94,826     |   |              |   | 45,985 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
| PROPERTY & EQUIPMENT, at cost                                                                                                                                          |   |           |       |   |              |   |   |   |
|    Machinery & equipment                                                                                                                                |   |           | 91,344     |   |              |   | 91,344 |   |
|    Computer equipment                                                                                                                                       |   |           | 28,716     |   |              |   | 28,716 |   |
|    Furniture & fixtures                                                                                                                                 |   |           | 1,459      |   |              |   | 1,459 |   |
|                                                                                                                                                                       |   |           | 121,519    |   |              |   | 121,519 |   |
|    Less accumulated depreciation                                                                                                                            |   |           | (50,100    | )      |              |   | (45,800 | ) |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                         NET PROPERTY AND EQUIPMENT |   |           | 71,419     |   |              |   | 75,719 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
| OTHER ASSETS                                                                                                                                                               |   |           |       |   |              |   |   |   |
|    Patents                                                                                                                                                  |   |           | 37,114     |   |              |   | 37,114 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                        TOTAL ASSETS                     |   | $              | 203,359    |   |              | $      | 158,818 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
| LIABILITIES AND SHAREHOLDER'S EQUITY                                                                                                                                       |   |           |       |   |              |   |   |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
| CURRENT LIABILITIES                                                                                                                                                        |   |           |       |   |              |   |   |   |
|     Accounts payable                                                                                                                                   |   | $              | 13,453     |   |              | $      | 12,635 |   |
|     Accrued expenses                                                                                                                                   |   |           | 11,369     |   |              |   | 11,369 |   |
|     Accrued interest, notes payable                                                                                                                    |   |           | 7,635      |   |              |   | 7,346 |   |
|     Note payable, investor                                                                                                                             |   |           | -          |   |              |   | 25,000 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                        TOTAL CURRENT LIABILITIES        |   |           | 32,457     |   |              |   | 56,350 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
| SHAREHOLDER'S EQUITY                                                                                                                                                       |   |           |       |   |              |   |   |   |
|    Preferred Stock, $0.001 par value                                                                                                                        |   |           | -          |   |              |   | - |   |
|    Common Stock, $0.001 par value;                                                                                                                          |   |           |       |   |              |   |   |   |
|    12,500,000 authorized common shares                                                                                                                      |   |           |       |   |              |   |   |   |
|    5,519,467 and 5,119,467 shares issued and outstanding                                                                                                    |   |           | 5,519      |   |              |   | 5,119 |   |
|    Additional paid in capital                                                                                                                               |   |           | 6,314,131  |   |              |   | 5,914,531 |   |
|    Accumulated deficit during the development stage                                                                                                         |   |           | (6,148,748 | )      |              |   | (5,817,182 | ) |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                       TOTAL SHAREHOLDER'S EQUITY             |   |           | 170,902    |   |              |   | 102,468 |   |
|                                                                                                                                                                       |   |           |       |   |              |   |   |   |
|     TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY                                                                                                         |   | $              | 203,359    |   |              | $      | 158,818 |   |

----

|                                                           |   |               |      |   |           |   |      | From Inception on |   |
|----------------------------------------------------------------|--------|--------------------|-----------|--------|----------------|--------|-----------|-------------------|--------|
|                                                           |   |               |      |   |           |   |      | August 25,2006    |   |
|                                                           |   | Three Months Ended |      |   | through        |   |
|                                                           |   | March 31, 2011     |      |   | March 31, 2010 |   |      | March 31, 2011    |   |
|                                                           |   |               |      |   |           |   |      |              |   |
|                                                           |   |               |      |   |           |   |      |              |   |
| REVENUE                                                        |   | $                  | -         |   |           | $      | -         |              |   | $ | - |   |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| OPERATING EXPENSES                                             |   |               |      |   |           |   |      |              |   |   |   |   |
|   General and administrative expenses                |   |               | 242,743   |   |           |   | 203,896   |              |   |   | 5,324,239 |   |
|   Research and development                           |   |               | 84,148    |   |           |   | 47,400    |              |   |   | 787,651 |   |
|   Depreciation expense                               |   |               | 4,300     |   |           |   | 4,902     |              |   |   | 70,897 |   |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| TOTAL OPERATING EXPENSES                                       |   |               | 331,191   |   |           |   | 256,198   |              |   |   | 6,182,787 |   |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| LOSS FROM OPERATIONS BEFORE  OTHER INCOME/(EXPENSES) |   |               | (331,191  | )      |           |   | (256,198  | )                 |   |   | (6,182,787 | ) |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| OTHER INCOME/(EXPENSE)                                         |   |               |      |   |           |   |      |              |   |   |   |   |
|   Interest income                                    |   |               | -         |   |           |   | -         |              |   |   | 39,521 |   |
|   Gain on sale of asset                              |   |               | -         |   |           |   | -         |              |   |   | 5,045 |   |
|   Penalties                                          |   |               | -         |   |           |   | -         |              |   |   | (50 | ) |
|   Interest expense                                   |   |               | (375      | )      |           |   | (137      | )                 |   |   | (10,477 | ) |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| TOTAL OTHER INCOME/(EXPENSES)                                  |   |               | (375      | )      |           |   | (137      | )                 |   |   | 34,039 |   |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| NET LOSS                                                       |   | $                  | (331,566  | )      |           | $      | (256,335  | )                 |   | $ | (6,148,748 | ) |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| BASIC AND DILUTED LOSS PER SHARE                               |   | $                  | (0.06     | )      |           | $      | (0.06     | )                 |   |   |   |   |
|                                                           |   |               |      |   |           |   |      |              |   |   |   |   |
| WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING                     |   |               |      |   |           |   |      |              |   |
|       BASIC AND DILUTED          |   |               | 5,250,989 |   |           |   | 4,433,753 |              |   |   |   |   |

----

|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   | Accumulated |   |      |   |   |
|------------------------------------------------------------------------|--------|-----------------|--------|--------|--------------|--------|--------|---------|--------|--------|-------------|--------|--------|------------|--------|--------|-------------|--------|-----------|--------|--------|
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   | Additional |   |   | during the  |   |      |   |   |
|                                                                   |   | Preferred stock |   |   | Common stock |   |   | Paid-in |   |   | Development |   |   |       |   |
|                                                                   |   | Shares          |   |   | Amount       |   |   | Shares  |   |   | Amount      |   |   | Capital    |   |   | Stage       |   |      | Total  |   |
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |
| Balance at December 31, 2010                                           |   |            | -      |   |         | $      | -      |    |   |   | 5,119,467   |   |   | $          | 5,119  |   |        | $      | 5,914,531 |   |   | $ | (5,817,182 | ) |   | $ | 102,468 |   |
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| Issuance of common stock in Januaary for cash                          |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| (50,000 shares of common stock issued at $1.00 per share) (unaudited)  |   |            | -      |   |         |   | -      |    |   |   | 50,000      |   |   |       | 50     |   |        |   | 49,950    |   |   |   | - |   |   |   | 50,000 |   |
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| Issuance of common stock in February for cash                          |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| (150,000 shares of common stock issued at $1.00 per share) (unaudited) |   |            | -      |   |         |   | -      |    |   |   | 150,000     |   |   |       | 150    |   |        |   | 149,850   |   |   |   | - |   |   |   | 150,000 |   |
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| Issuance of common stock in February for cash                          |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| (200,000 shares of common stock issued at $1.00 per share) (unaudited) |   |            | -      |   |         |   | -      |    |   |   | 200,000     |   |   |       | 200    |   |        |   | 199,800   |   |   |   | - |   |   |   | 200,000 |   |
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| Net Loss for the three months ended March 31, 2011 (unaudited)         |   |            | -      |   |         |   | -      |    |   |   | -           |   |   |       | -      |   |        |   | -         |   |   |   | (331,566 | ) |   |   | (331,566 | ) |
|                                                                   |   |            |   |   |         |   |   |    |   |   |        |   |   |       |   |   |        |   |      |   |   |   |   |   |   |   |   |   |
| Balance at March 31, 2011 (unaudited)                                  |   |            | -      |   |         | $      | -      |    |   |   | 5,519,467   |   |   | $          | 5,519  |   |        | $      | 6,314,131 |   |   | $ | (6,148,748 | ) |   | $ | 170,902 |   |

----

|                                                           |   |               |     |   |           |   |     | From Inception on |   |
|----------------------------------------------------------------|--------|--------------------|----------|--------|----------------|--------|----------|-------------------|--------|
|                                                           |   |               |     |   |           |   |     | August 25,2006    |   |
|                                                           |   | Three Months Ended |     |   | through        |   |
|                                                           |   | March 31, 2011     |     |   | March 31, 2010 |   |     | March 31, 2011    |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                          |   |               |     |   |           |   |     |              |   |
|    Net loss                                     |   | $                  | (331,566 | )      |           | $      | (256,335 | )                 |   | $ | (6,148,748 | ) |
|    Adjustment to reconcile net loss to net cash |   |               |     |   |           |   |     |              |   |   |   |   |
|      used in operating activities     |   |               |     |   |           |   |     |              |   |   |   |   |
|    Depreciation expense                         |   |               | 4,300    |   |           |   | 4,902    |              |   |   | 70,897 |   |
|    Stock issuance for services                  |   |               | -        |   |           |   | -        |              |   |   | 251,038 |   |
|    Stock compensation cost                      |   |               | -        |   |           |   | -        |              |   |   | 1,230,000 |   |
|    Gain on sale of asset                        |   |               | -        |   |           |   |     |              |   |   | (5,045 | ) |
|   Changes in Assets and Liabilities                  |   |               |     |   |           |   |     |              |   |   |   |   |
|    (Increase) Decrease in:                      |   |               |     |   |           |   |     |              |   |   |   |   |
|    Prepaid expenses                             |   |               | (16,171  | )      |           |   | 13,817   |              |   |   | (23,734 | ) |
|    Increase (Decrease) in:                      |   |               |     |   |           |   |     |              |   |   |   |   |
|    Accounts payable                             |   |               | 818      |   |           |   | 4,420    |              |   |   | 13,453 |   |
|    Accrued expenses                             |   |               | 289      |   |           |   | (14,386  | )                 |   |   | 19,004 |   |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| NET CASH USED IN OPERATING ACTIVITIES                          |   |               | (342,330 | )      |           |   | (247,582 | )                 |   |   | (4,593,135 | ) |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| CASH FLOWS USED IN INVESTING ACTIVITIES:                       |   |               |     |   |           |   |     |              |   |   |   |   |
|    Proceeds from sale of vehicle                |   |               | -        |   |           |   | -        |              |   |   | 24,500 |   |
|    Patent expenditures                          |   |               | -        |   |           |   | (14,139  | )                 |   |   | (37,114 | ) |
|    Purchase of equipment                        |   |               | -        |   |           |   | (4,955   | )                 |   |   | (161,771 | ) |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| NET CASH USED IN INVESTING ACTIVITIES                          |   |               | -        |   |           |   | (19,094  | )                 |   |   | (174,385 | ) |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| CASH FLOWS IN FINANCING ACTIVITIES:                            |   |               |     |   |           |   |     |              |   |   |   |   |
|    Advances from/(to) officer                   |   |               | -        |   |           |   | -        |              |   |   | 113,000 |   |
|    Loans from investors                         |   |               | -        |   |           |   | -        |              |   |   | 525,000 |   |
|    Repayment of advances and loans              |   |               | (25,000  | )      |           |   | -        |              |   |   | (373,000 | ) |
|    Proceeds from subscriptions payable          |   |               | -        |   |           |   | -        |              |   |   | 362,775 |   |
|    Proceeds from issuance of common stock, net  |   |               | 400,000  |   |           |   | -        |              |   |   | 4,210,837 |   |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| NET CASH PROVIDED BY FINANCING  ACTIVITIES           |   |               | 375,000  |   |           |   | -        |              |   |   | 4,838,612 |   |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| NET INCREASE/(DECREASE) IN CASH                                |   |               | 32,670   |   |           |   | (266,676 | )                 |   |   | 71,092 |   |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| CASH, BEGINNING OF PERIOD                                      |   |               | 38,422   |   |           |   | 270,562  |              |   |   | - |   |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| CASH, END OF PERIOD                                            |   | $                  | 71,092   |   |           | $      | 3,886    |              |   | $ | 71,092 |   |
|                                                           |   |               |     |   |           |   |     |              |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION              |   |               |     |   |           |   |     |              |   |
|    Interest paid                                |   | $                  | 87       |   |           | $      | 137      |              |   | $ | 2,974 |   |
|    Taxes paid                                   |   | $                  | 800      |   |           | $      | 800      |              |   | $ | 3,200 |   |

----

----

|   | Management reviewed accounting pronouncements issued during the three months ended March 31, 2011, and no pronouncements were adopted during the period. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | CAPITAL STOCK |
|----|---------------|

----

|                                  | 3/31/2011 |
|---------------------------------------|-----------|
| Risk free interest rate               | 3.30%     |
| Stock volatility factor               | 1%        |
| Weighted average expected option life | 7 years   |
| Expected dividend yield               | None      |

|                              |   | 3/31/2011 |    |
|-----------------------------------|--------|-----------|---------|
|                              |   |      |    |   | Weighted |   |
|                              |   | Number    |    |   | average |   |
|                              |   | of        |    |   | exercise |   |
|                              |   | Options   |    |   | price |   |
| Outstanding, beginning of period  |   |      | 387,500 |   |   | $ | 2.92 |   |
| Granted                           |   |      | -       |   |   |   | - |   |
| Exercised                         |   |      | -       |   |   |   | - |   |
| Expired                           |   |      | -       |   |   |   | - |   |
| Outstanding, end of period        |   |      | 387,500 |   |   | $ | 2.92 |   |
| Exercisable at the end of period  |   |      | 387,500 |   |   | $ | 2.92 |   |
| Weighted average fair value of    |   |      |    |   |   |   |   |   |
| options granted during the period |   |      | $       | - |   |

| 5. | RELATED PARTY TRANSACTION |
|----|---------------------------|

|   | On April 9, 2010, the Company signed a promissory note for funds received from an investor in the amount of $25,000 for operating expenses. The note bears interest at 5% per annum, and was paid in full as of March 31, 2011. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | SUBSEQUENT EVENTS |
|----|-------------------|

|   | Management evaluated subsequent events as of the date of the financial statements pursuant to ASC TOPIC 855. |
|--------|--------------------------------------------------------------------------------------------------------------|

|   | On April 6, 2011, the Company entered into a consulting agreement with Emerging Fuels Technology, Inc. to aid in furthering their commercial grade catalyst technology. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | On April 28, 2011, the Company issued 100,000 shares of common stock at a price of $1.00 per share for $100,000 cash, with warrants attached to purchase 400,000 shares of common stock at a price of $1.00. The shares are stated at the effected 1:40 reverse split. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | On April 29, 2011, the Company authorized a one-for-forty (1:40) reverse split of the Company’s authorized, issued and outstanding shares of common stock. As a result of the reverse split each forty (40) shares of the Company’s common stock issued and outstanding immediately prior to the reverse split shall be changed into one (1). |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·  | discuss our future expectations; |
|--------------|----------------------------------|

| ·  | contain projections of our future results of operations or of our financial condition; and |
|--------------|--------------------------------------------------------------------------------------------|

| ·  | state other "forward-looking" information. |
|--------------|--------------------------------------------|

----

----

----

----

| 31.1 | Certification of the Chief Executive Officer and Chief Financial Officer., pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification of the Chief Executive Officer and Chief Financial Officer., furnished pursuant to Section 1350 of Chapter 63 of 18 U.S.C. as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   |   | CARBON SCIENCES, INC.                                                                                                                                 |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                  |
|   | By:    | /s/ Byron Elton                                                                                                                                       |   |
|   |   | Chief Executive Officer (Principal ExecutiveOfficer ) and Acting Chief Financial Officer(Principal Financial Officer and PrincipalAccounting Officer) |