| [X] | ANNUAL      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|-----|------------------------------------------------------------------------------------------|

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

| Florida(State      or other jurisdiction ofincorporation      or organization)                                         | 33-0961490(I.R.S.      EmployerIdentification      No.)  |
|-----------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------|
| 101      Xinanyao Street, Jinzhou DistrictDalian,      Liaoning Province(Address      of principal executive offices)  |  PRC      116100(Zip      Code)                     |

| Title      of each class |   | Name      of each exchange on which registered |
|--------------------------|--------|------------------------------------------------|
|                     |   |                                           |
| None                     |   | None                                           |

| Large      accelerated filer [   ] | Accelerated      filer [   ] | Non-accelerated      filer [ X] |
|---------------------------------------------------|---------------------------------------------|---------------------------------|

----

----

|   |  PART    I   |  .................................................................................................................................................................................................................................................................................................1 |
|--------|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  ITEM    1   | BUSINESS      ..............................................................................................................................................................................................................................................................................1            |
|   |  ITEM    1A  | RISK FACTORS      ...................................................................................................................................................................................................................................................................5              |
|   |  ITEM    1B  | UNRESOLVED STAFF      COMMENTS      ...............................................................................................................................................................................................................................8                                     |
|   |  ITEM    2   | PROPERTIES      .........................................................................................................................................................................................................................................................................8               |
|   |  ITEM    3   | LEGAL PROCEEDINGS      .......................................................................................................................................................................................................................................................8                          |
|   |  ITEM    4   | SUBMISSION OF      MATTERS TO A VOTE OF SECURITY      HOLDERS........................................................................................................................................................................8                                                                   |
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  PART    II  |  .................................................................................................................................................................................................................................................................................................9 |
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  ITEM    5   | MARKET FOR      REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS                                                                                                                                                                                                                                   |
|   |              |  AND ISSUER      PURCHASES OF EQUITY SECURITIES      ................................................................................................................................................................................................9                                              |
|   |  ITEM    6   | SELECTED FINANCIAL      DATAMANAGEMENT'S DISCUSSION AND ANALYSIS OR                                                                                                                                                                                                                                      |
|   |              |  PLAN OF      OPERATION      ....................................................................................................................................................................................................................................................10                 |
|   |  ITEM    7   |  MANAGEMENT'S      DISCUSSION AND ANALSYS OF FINANCIAL CONDITION  AND                                                                                                                                                                                                                          |
|   |              |  RESULTS OF      OPERATIONS      ...........................................................................................................................................................................................................................................11                      |
|   |  ITEM    7A  | QUANTITATIVE AND      QUALITATIVE DISCLOSURES ABOUT MARKET RISK      ...............................................................................................................................................14                                                                                   |
|   |  ITEM    8   | FINANCIAL STATEMENTS      AND SUPPLEMENTARY DATA      ................................................................................................................................................................................15                                                                 |
|   |  ITEM    9   | CHANGES IN AND      DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING                                                                                                                                                                                                                                         |
|   |              |  AND FINANCIAL      DISCLOSURE      ...................................................................................................................................................................................................................................16                           |
|   |  ITEM    9A  | CONTROLS AND      PROCEDURES      ....................................................................................................................................................................................................................................16                                 |
|   |  ITEM    9B  | OTHER INFORMATION      ...................................................................................................................................................................................................................................................16                             |
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  PART    III |  ...............................................................................................................................................................................................................................................................................................17  |
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  ITEM    10  | DIRECTORS AND      EXECUTIVE OFFICERS OF THE REGISTRANT      ........................................................................................................................................................................17                                                                  |
|   |  ITEM    11  | EXECUTIVE      COMPENSATION      ......................................................................................................................................................................................................................................18                                |
|   |  ITEM    12  | SECURITY OWNERSHIP      OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT                                                                                                                                                                                                                                      |
|   |              | AND RELATED      STOCKHOLDER MATTERS      ..............................................................................................................................................................................................................19                                               |
|   |  ITEM    13  | CERTAIN      RELATIONSHIPS AND RELATED TRANSACTIONS      .............................................................................................................................................................................20                                                                 |
|   |  ITEM    14  | PRINCIPAL ACCOUNTANT      FEES AND SERVICES      ...................................................................................................................................................................................................20                                                   |
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  PART    IV  |  ...............................................................................................................................................................................................................................................................................................21  |
|   |              |                                                                                                                                                                                                                                                                                                     |
|   |  ITEM    15  | EXHIBITS, FINANCIAL      STATEMENTS SCHEDULES      ...............................................................................................................................................................................................21                                                     |

----

----

----

----

----

----

----

----

----

| Fiscal      YearEndedSeptember      30, |   |                                          |   | Bid      Prices            |
|-----------------------------------------|--------|-----------------------------------------------|--------|----------------------------|
|                                    | Period |                                          | High   |                       | Low |
|                                    |   |                                          |   |                       |   |   |
| 2004                                    |   | First      Quarter                            |   | N/A                        |   | N/A |
|                                    |   | Second      Quarter                           |   | N/A                        |   | N/A |
|                                    |   | Third      Quarter                            |   | N/A                        |   | N/A |
|                                    |   | Fourth      Quarter                           |   | N/A                        |   | N/A |
|                                    |   |                                          |   |                       |   |   |
| 2005                                    |   | First      Quarter                            |   | N/A                        |   | N/A |
|                                    |   | Second      Quarter                           |   | N/A                        |   | N/A |
|                                    |   | Third      Quarter                            |   | N/A                        |   | N/A |
|                                    |   | Fourth      Quarter                           |   | $    - |   | $    - |
|                                    |   |                                          |   |                       |   |   |
| 2006                                    |   | First      Quarter                            |   | N/A                        |   | N/A |
|                                    |   | Second      Quarter                           |   | N/A                        |   | N/A |
|                                    |   | Third      Quarter                            |   | $2.30                      |   | $0.50 |
|                                    |   | Fourth      Quarter                           |   | $1.75                      |   | $1.05 |
|                                    |   |                                          |   |                       |   |   |
| 2007                                    |   | First      Quarter                            |   | $1.40                      |   | $1.10 |
|                                    |   | Second      Quarter (through January 3, 2007) |   | $1.18                      |   | $1.17 |

----

| China      Agro Sciences Corp. (1)    |   | For      the Years Ended September 30, |       |   |
|---------------------------------------|--------|----------------------------------------|------------|--------|
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |
|                                  |   | 2006                                   |       |   | 2005 |   |   | 2004 |   |   | 2003 |   | 2002  |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |
| Statement      of Operations Data:    |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |
| Total      revenues                   |   | $                                      | 12,749,788 |   |   |   | - |   |   |   | - |   |   |   | - |   | -  |   |   |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss)                |   |                                   | 1,931,558  |   |   |   | (287,204 | ) |   |   | - |   |   |   | - |   | -  |   |   |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance      Sheet Data:              |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current      assets                   |   | $                                      | 2,537,925  |   |   |   | 252,708 |   |   |   | - |   |   |   | - |   | -  |   |   |   |
| Total      assets                     |   |                                   | 7,843,728  |   |   |   | 6,014,573 |   |   |   | - |   |   |   | - |   | -  |   |   |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current      liabilities              |   |                                   | 2,159,855  |   |   |   | 2,504,078 |   |   |   | - |   |   |   | - |   | -  |   |   |   |
| Total      liabilities                |   |                                   | 2,483,218  |   |   |   | 2,815,144 |   |   |   | - |   |   |   | - |   | -  |   |   |   |
| Total      stockholders’ equity |   |                                   | 5,360,510  |   |   |   | 3,199,429 |   |   |   | - |   |   |   | - |   | -  |   |   |   |
|                                  |   |                                   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total      dividends per common share |   |                                   | - 0      - |   |   |   | - 0      - |   |   |   | - |   |   |   | - |   | -  |   |   |   |

| (1)   | The      selected financial data included in this Section is the financial data for      Ye Shun International, which, with its subsidiary, Runze, contains all the      operations of the merged company, Dalian Holding Corp. (now China Agro      Sciences Corp.). |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                     |   | September      30, 2006 |       |   | September      30, 2005 |   |     | Percentage      Change |   |
|------------------------------------------|--------|-------------------------|------------|--------|-------------------------|--------|----------|------------------------|--------|
|                                     |   |                    |       |   |                    |   |     |                   |   |
| Revenue                                  |   | $                       | 12,749,788 |   |                    | $      | -        |                   |   |   | N/A |   |
| Cost      of Sales                       |   |                    | 9,837,089  |   |                    |   | -        |                   |   |   | N/A |   |
| General      and Administrative Expenses |   |                    | 981,141    |   |                    |   | 287,204  |                   |   |   | 218 | % |
| Net      Income (Loss)                   |   | $                       | 1,931,558  |   |                    | $      | (287,204 | )                      |   |   | N/A |   |

----

|                           |   | September      30, 2006 |      |   | September      30, 2005 |   |      | Increase      (Decrease) |   |
|--------------------------------|--------|-------------------------|-----------|--------|-------------------------|--------|-----------|--------------------------|--------|
|                           |   |                    |      |   |                    |   |      |                     |   |
| Cash                           |   | $                       | 103,817   |   |                    | $      | 77,250    |                     |   |   | 26,567 |   |
| Total      Current Assets      |   |                    | 2,537,925 |   |                    |   | 252,708   |                     |   |   | 2,285,217 |   |
| Total      Assets              |   |                    | 7,843,728 |   |                    |   | 6,014,573 |                     |   |   | 2,423,964 |   |
| Total      Current Liabilities |   |                    | 2,159,855 |   |                    |   | 2,504,078 |                     |   |   | (344,223 | ) |
| Total      Liabilities         |   | $                       | 2,483,218 |   |                    | $      | 2,815,144 |                     |   |   | (331,926 | ) |

----

|                               |   | Payments      due by period (in U.S. Dollars) |   |
|------------------------------------|--------|-----------------------------------------------|--------|
| Obligations                        |   |            Total     |   |   |           1 Year |   |   |             1-3 Years |   |   |              3-5 Years |   |   |             5 Years |   |
| Long-Term      Debt Obligations    |   |                                          | -0-    |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |
| Capital      Lease Obligations     |   |                                          | -0-    |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |
| Operating      Lease Obligations   |   |                                          | -0-    |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |
| Purchase      Obligations          |   |                                          | -0-    |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |
| Other      Long-Term Liabilities   |   |                                          | -0-    |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |
| Total      Contractual Obligations |   |                                          | -0-    |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |   |   | -0- |   |

----

| Index      to Financial Statements                                                              |   |
|-------------------------------------------------------------------------------------------------|--------|
|                                                                                            |   |
| Report      of Independent Certified Public Accountants                                         |   |
|                                                                                            |   |
| Consolidated      Balance Sheet as of September 30, 2006                                        | F-1    |
|                                                                                            |   |
| Consolidated      Statement of Operations for the years ended September 30, 2006 and      2005  | F-2    |
|                                                                                            |   |
| Statement      of Changes in Stockholders’ Equity                                         | F-3    |
|                                                                                            |   |
| Consolidated      Statements of Cash Flows for the years ended September 30, 2006 and      2005 | F-4    |
|                                                                                            |   |
| Notes      to Financial Statements                                                              | F-5    |

----

----

|   |   |   |
|--------|--------|--------|

|                                                                                    |   | Restated |      |
|-----------------------------------------------------------------------------------------|--------|----------|-----------|
| ASSETS                                                                                  |   |
|                                                                                    |   |     |      |
| CURRENT      ASSETS:                                                                    |   |     |      |
|   Cash                                                                        |   | $        | 103,817   |   |
|   Accounts      receivable                                                    |   |     | 2,013,529 |   |
|   Inventories                                                                 |   |     | 399,636   |   |
|   Other      current assets                                                   |   |     | 20,943    |   |
|      TOTAL      CURRENT ASSETS                                 |   |     | 2,537,925 |   |
|                                                                                    |   |     |      |   |
| Property      and equipment, net of accumulated depreciation (Notes 2 and    9)         |   |     | 5,305,803 |   |
|                                                                                    |   |     |      |   |
| TOTAL      ASSETS                                                                       |   | $        | 7,843,728 |   |
|                                                                                    |   |     |      |   |
|                                                                                    |   |     |      |   |
|                                                                                    |   |     |      |   |
| LIABILITIES      AND STOCKHOLDERS’ EQUITY                                         |   |
|                                                                                    |   |     |      |   |
| CURRENT      LIABILITIES:                                                               |   |     |      |   |
|   Accounts      payable                                                       |   | $        | 1,815,719 |   |
|   Due      to affiliated company                                              |   |     | 344,136   |   |
|      TOTAL      CURRENT LIABILITIES                            |   |     | 2,159,855 |   |
|                                                                                    |   |     |      |   |
| LONG-TERM      DEBT                                                                     |   |     | 323,363   |   |
|                                                                                    |   |     |      |   |
|                                                                                    |   |     |      |   |
| STOCKHOLDERS’      EQUITY                                                         |   |     |      |   |
|    Common      stock, $0.001 par value                                   |   |     |      |   |
|       100,000,000      shares authorized                  |   |     |      |   |
|        20,000,000      shares issued and outstanding |   |     | 20,000    |   |
|     Additional      paid in capital                                 |   |     | 3,738,900 |   |
|     Retained      earnings                                          |   |     | 1,372,662 |   |
|     Accumulated      other comprehensive income                     |   |     | 228,948   |   |
|        TOTAL STOCKHOLDERS’ EQUITY              |   |     | 5,360,510 |   |
|                                                                                    |   |     |      |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS’ EQUITY                                   |   | $        | 7,843,728 |   |
|                                                                                    |   |     |      |   |
|                                                                                    |   |     |      |   |

----

|                                                        |   |                                |       |   |
|-------------------------------------------------------------|--------|-------------------------------------|------------|--------|
|                                                        |   |  YEAR      ENDED SEPTEMBER 30, |       |   |   |
|                                                        |   |  2006                          |  2005 |   |   |
|                                                        |   |  Restated                      |       |   |   |
|                                                        |   |                                |       |   |   |
| SALES                                                       |   | $                                   | 12,749,788 |   |   |   | $ | - |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
| COST OF SALES (Note      8)                                 |   |                                | 9,837,089  |   |   |   |   | - |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
| GROSS      PROFIT                                           |   |                                | 2,912,699  |   |   |   |   | - |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
| COSTS      AND EXPENSES:                                    |   |                                |       |   |   |   |   |   |   |   |
|   General      and administrative expenses        |   |                                | 914,385    |   |   |   |   | 287,204 |   |
|   Interest      expense                           |   |                                | 66,756     |   |   |   |   | - |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|      TOTAL      COSTS AND EXPENSES |   |                                | 981,141    |   |   |   |   | 287,204 |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
| NET      INCOME (LOSS)                                      |   | $                                   | 1,931,558  |   |   |   | $ | (287,204 | ) |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
| BASIC      AND DILUTED EARNINGS PER COMMON SHARE            |   | $                                   | 0.097      |   |   |   |   | N/A |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
| WEIGHTED      AVERAGE NUMBER OF COMMON                      |   |                                |       |   |   |   |   |   |   |   |
| SHARES      OUTSTANDING                                     |   |                                | 20,000,000 |   |   |   |   | N/A |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |
|                                                        |   |                                |       |   |   |   |   |   |   |   |

----

|   |              |                     |                              |                             |                      |
|--------|-------------------|--------------------------|-----------------------------------|----------------------------------|---------------------------|
|   |  COMMONSTOCK | ADDITIONALPAID-INCAPITAL | RETAINEDEARNINGS(DEFICIT)Restated | OTHERCOMPREHENSIVEINCOMERestated |   TOTALRestated |

|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------|--------|--------|--------|-----------|--------|--------|--------|-----------|--------|--------|--------|----------|
| BALANCE      – SEPTEMBER 30, 2004                                                                                                                                                                                                                           |   |   | 3,738,900     |   |   | $      | -         |   |   | $      | (271,692  | )      |   | $      | (802     | ) |   | $ | 3,466,406 |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| Net      loss                                                                                                                                                                                                                                                     |   |   | -             |   |   |   | -         |   |   |   | (287,204  | )      |   |   | 20,227   |   |   |   | (266,977 | ) |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| BALANCE      – SEPTEMBER 30, 2005                                                                                                                                                                                                                           |   |   | 3,738,900     |   |   |   | -         |   |   |   | (558,896  | )      |   |   | 19,425   |   |   |   | 3,199,429 |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| Common      stock, $0.001 par value,    100,000,000      shares authorized,    20,000,000   shares      issued and outstanding                                                                             |   |   |   20,000 |   |   |   |   -  |   |   |   |   -  |   |   |   |   - |   |   |   |   20,000 |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| Preferred      stock, $0.001 par value,     5,000,000      shares authorized,     0               shares      issued and outstanding |   |   |   -      |   |   |   |   -  |   |   |   |   -  |   |   |   |   - |   |   |   |   - |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| Effect      of stock splits and return of shares                                                                                                                                                                                                                  |   |   | (3,738,900    | )      |   |   | 3,738,900 |   |   |   | -         |   |   |   | -        |   |   |   | - |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| Foreign      currency translation adjustment                                                                                                                                                                                                                      |   |   | -             |   |   |   | -         |   |   |   | -         |   |   |   | 209,523  |   |   |   | 209,523 |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| Net      income                                                                                                                                                                                                                                                   |   |   | -             |   |   |   | -         |   |   |   | 1,931,558 |   |   |   | -        |   |   |   | 1,931,558 |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |
| BALANCE      – SEPTEMBER 30, 2006                                                                                                                                                                                                                           |   | $      | 20,000        |   |   | $      | 3,738,900 |   |   | $      | 1,372,662 |   |   | $      | 228,948  |   |   | $ | 5,360,510 |   |
|                                                                                                                                                                                                                                                              |   |   |          |   |   |   |      |   |   |   |      |   |   |   |     |   |   |   |   |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                      YEAR      ENDED SEPTEMBER 30,                                                                                                                                                                                                       |   |                                                                                                                               |   |
|                                                                                                                                                                                                                                                                                 2006 |   |                           2005 |   |
|                                                                                                                                                                                                                                                                             Restated                |   |                                                                                                                               |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |
| OPERATING      ACTIVITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                               |   |   |   |
|   Net      income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                                                                                                                                  | 1,931,558 |   |   | $ | (287,204 | ) |
|   Adjustments      to reconcile net income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                                                                               |   |   |   |
|     to      net cash provided by operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                               |   |   |   |
|       Depreciation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                                                                               | 420,667 |   |   |   | 236,918 |   |
|   Changes      in operating assets and liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                               |   |   |   |
|       Accounts      receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                                                                                                                               | (2,013,529 | ) |   |   | 11,397 |   |
|       Inventories                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                               | (274,069 | ) |   |   | 125,830 |   |
|       Prepaid      expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                               | 35,560 |   |   |   | (9,897 | ) |
|       Other      current assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |                                                                                                                               | (6,036 | ) |   |   | 142,979 |   |
|       Accounts      payable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                               | 691,793 |   |   |   | 434,240 |   |
| NET      CASH PROVIDED BY OPERATING ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                               | 785,944 |   |   |   | 654,263 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| INVESTING      ACTIVITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                               |   |   |   |
|   Government      grant for property and equipment purchase                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                                                                               | 349,888 |   |   |   | - |   |
|   Acquisition      of property and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                                                                                                                               | (317,958 | ) |   |   | (632,826 | ) |
| NET      CASH USED IN INVESTING ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                               | 31,930 |   |   |   | (632,826 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| FINANCING      ACTIVITIES:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                               |   |   |   |
|   Short-term      bank loan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                                                                               | - |   |   |   | (363,000 | ) |
|    Loan      from local government                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                               | - |   |   |   | 311,066 |   |
|    Loans      from affiliated company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               | (1,036,017 | ) |   |   | 69,244 |   |
| NET      CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                                                                                                                               | (1,036,017 | ) |   |   | 17,310 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| EFFECT      OF EXCHANGE RATE ON CASH                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               | 244,710 |   |   |   | 20,227 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| INCREASE      IN CASH                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                                                                               | 26,567 |   |   |   | 58,974 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| CASH  –      BEGINNING OF YEAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                                                                               | 77,250 |   |   |   | 18,276 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| CASH  –      END OF YEAR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                                                                                                                                  | 103,817 |   |   | $ | 77,250 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
| Supplemental      disclosures of cash flow information:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                                                               |   |   |   |
|   Cash paid during the year      for:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                               |   |   |   |
|       Interest                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                                                                                                                                  | 66,707 |   |   | $ | - |   |
|   Non-cash      financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                               |   |   |   |
|       Sale      of inventory to an affiliated company in repayment of debt                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | $                                                                                                                                  | - |   |   | $ | 125,393 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                                                                               |   |   |   |

----

|   |
|--------|

----

|   |
|--------|

|   | Maintenance,      repairs and minor renewals are charged to expense when      incurred.  Replacements and major renewals are      capitalized. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   |
|--------|

| 2 | PROPERTY      AND EQUIPMENT |
|---|-----------------------------|

|   |                                                                                                         |   |       |
|--------|--------------------------------------------------------------------------------------------------------------|--------|------------|
|   |                       AMOUNT |   |  LIFE |

| Machinery      and equipment                  |   | $      | 2,121,078 |   | 5-10      years |
|-----------------------------------------------|--------|--------|-----------|--------|-----------------|
| Furniture,      fixtures and office equipment |   |   | 19,961    |   | 5-7      years  |
| Building      and building improvements       |   |   | 4,021,868 |   | 40      years   |
| Automobile                                    |   |   | 26,910    |   | 5      years    |
|                                          |   |   | 6,189,817 |   |            |
| Accumulated      depreciation                 |   |   | 884,014   |   |            |
|                                          |   | $      | 5,305,803 |   |            |

|   | Year      ended September 30th      (using current year exchange rates)                                                                                                                                                                                                                  |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                               2007 | $             - |   |
|   |                                               2008 | - |   |
|   |                                               2009 | - |   |
|   |                                               2010 | 29,397 |   |
|   |                                               2011 | 29,397 |   |
|   |                                          Thereafter                         | 264,569 |   |
|   |                                                                                                                                                                                                                                                                                     | $      323,363 |   |
|   |                                                                                                                                                                                                                                                                                     |   |   |

----

|   |
|--------|

| 10 | RISK      FACTORS |
|----|-------------------|

----

|   |
|--------|

|   | -------------------------------------QUARTER----------------------------------------------------------            |                                                                                                   |
|--------|-------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------|
|   |                        First |                      Second |                       Third |                 Fourth |               TOTAL |

|                                                 |                 |   |       |   |        |   |        |   |        |
|------------------------------------------------------|----------------------|--------|------------|--------|-------------|--------|-------------|--------|-------------|
| Revenue                                              | $  986,894 |   | $4,827,290 |   | $4,094,201  |   | $2,841,403  |   | $12,749,788 |
|                                                 |                 |   |       |   |        |   |        |   |        |
| Operating      income                                | 169,038              |   | 1,060,959  |   | 786,506     |   | (84,945)    |   | 1,931,558   |
|                                                 |                 |   |       |   |        |   |        |   |        |
| Net      income                                      | 169,038              |   | 1,060,959  |   | 786,506     |   | (84,945)    |   | 1,931,558   |
|                                                 |                 |   |       |   |        |   |        |   |        |
| Basic      and diluted earnings percommon      share |  N/A            |   |  N/A  |   |  0.039 |   |  0.004 |   |        |
|                                                 |                 |   |       |   |        |   |        |   |        |

----

| CHINA      AGRO SCIENCES CORP.                                                                                                                         |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|  BALANCE      SHEET                                                                                                                               |
|                                                                                                                                                   |   |   |   |   |   |   |
|                                                                                                                                                   | FILED      WITH 10K |   |   |   |   | RESTATED |
|                                                                                                                                                   | SEPTEMBER      30, |   | ADJUSTMENTS |   |   | SEPTEMBER      30, |
|                                                                                                                                                   |  2006 |   |   |   |   | 2006 |
| ASSETS                                                                                                                                                 |   |   |   |   |   |   |
| CURRENT      ASSETS:                                                                                                                                   |   |   |   |   |   |   |
|      Cash                                                                                                                     |                 103,817 |   |   |   |   |                103,817 |
|      Accounts      receivable                                                                                                 |              2,013,529 |   |   |   |   |             2,013,529 |
|      Inventory                                                                                                                |                 399,636 |   |   |   |   |                399,636 |
|      Other      current assets                                                                                                |                   20,943 |   |   |   |   |                  20,943 |
|                                                                                                                                                   |   |   |   |   |   |   |
| TOTAL      CURRENT ASSETS                                                                                                                              |              2,537,925 |   |   |   |   |             2,537,925 |
|                                                                                                                                                   |   |   |   |   |   |   |
| PROPERTY      AND EQUIPMENT, NET OF                                                                                                                    |   |   |   |   |   |   |
| ACCUMULATED      DEPRECIATION                                                                                                                          |              5,620,703 |   |            (314,900) | (a) |   |             5,305,803 |
|                                                                                                                                                   |   |   |   |   |   |   |
| TOTAL      ASSETS                                                                                                                                      |              8,158,628 |   |            (314,900) |   |   |             7,843,728 |
|                                                                                                                                                   |   |   |   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                                                                              |   |   |   |   |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |
| CURRENT      LIABILITIES:                                                                                                                              |   |   |   |   |   |   |
|      Accounts      payable                                                                                                    |              1,815,719 |   |   |   |   |             1,815,719 |
|      Due      to affiliated company                                                                                           |                 694,136 |   |            (350,000) | (b) |   |                344,136 |
|                                                                                                                                                   |   |   |   |   |   |   |
| TOTAL      CURRENT LIABILITIES                                                                                                                         |              2,509,855 |   |            (350,000) |   |   |             2,159,855 |
|                                                                                                                                                   |   |   |   |   |   |   |
| LONG-TERM      DEBT                                                                                                                                    |   |   |             323,363 | (c) |   |                323,363 |
|                                                                                                                                                   |   |   |   |   |   |   |
| TOTAL      LIABILITIES                                                                                                                                 |   |   |              (26,637) |   |   |             2,483,218 |
|                                                                                                                                                   |   |   |   |   |   |   |
| STOCKHOLDERS'      EQUITY                                                                                                                              |   |   |   |   |   |   |
|   Common      stock, $0.001 par value, 100,000,000 shares                                                                                    |   |   |   |   |   |   |
|    authorized,      20,000,000 shares issued and outstanding                                                                            |                   20,000 |   |   |   |   |                  20,000 |
|   Additional      paid in capital                                                                                                            |              3,738,900 |   |   |   |   |             3,738,900 |
|   Retained      earnings                                                                                                                     |              1,643,908 |   |            (271,246) | (d) |   |             1,372,662 |
|   Accumulated      other comprehensive income                                                                                                |                 245,965 |   |              (17,017) | (e) |   |                228,948 |
|                                                                                                                                                   |   |   |   |   |   |   |
| TOTAL      STOCKHOLDERS' EQUITY                                                                                                                        |              5,648,773 |   |            (288,263) |   |   |             5,360,510 |
|                                                                                                                                                   |   |   |   |   |   |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                        |              8,158,628 |   |            (314,900) |   |   |             7,843,728 |
|                                                                                                                                                   |   |   |   |   |   |   |
| (a)  Reclassification      of the government grant of $349,888 which was specifically made to      subsidize the acquisition of fixed assets |
|   and      the related accumulated depreciation of $34,988                                                                                   |   |   |   |   |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |
| (b)  Adjust      accrual for equipment leased from related company                                                                           |   |   |   |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |
| (c)  Reclassification      of government grant to long term debt                                                                             |   |   |   |   |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |
| (d)  Net      effect of adjustments on income.                                                                                               |   |   |   |   |   |   |
|                                                                                                                                                   |   |   |   |   |   |   |
| (e)  Changes      on foreign currency translation adjustment because the change of net      income.                      |

----

|   | CHINA      AGRO SCIENCES CORP.                                                                    |
|--------|---------------------------------------------------------------------------------------------------|
|   |  STATEMENTS      OF OPERATIONS                                                               |
|   |                                                                                              |   |   |   |   |   |   |
|   |                                                                                              |   |   |   |   |   |   |
|   |                                                                                              |   |   |   |   |   |   |
|   |                                                                                              |   | FILED      WITH 10K |   |   |   |  RESTATED |
|   |                                                                                              |   |  SEPTEMBER      30, |   |  ADJUSTMENTS |   |  SEPTEMBER      30, |
|   |                                                                                              |   |  2006 |   |   |   |  2006 |
|   |                                                                                              |   |   |   |   |   |   |
|   | REVENUE                                                                                           |   |             12,749,788 |   |   |   |               12,749,788 |
|   |                                                                                              |   |   |   |   |   |   |
|   | COST      OF SALES                                                                                |   |             10,187,089 |   |                (350,000) |  (f) |                9,837,089 |
|   |                                                                                              |   |   |   |   |   |   |
|   | GROSS      PROFIT                                                                                 |   |              2,562,699 |   |                 350,000 |   |                2,912,699 |
|   |                                                                                              |   |   |   |   |   |   |
|   |                                                                                              |   |   |   |   |   |   |
|   | COSTS      AND EXPENSES:                                                                          |   |   |   |   |   |   |
|   | General      and administrative expenses                                                          |   |              1,015,634 |   |                  (101,249) | (g) |                   914,385 |
|   | Government      grant                                                                             |   |                (655,739) |   |                   655,739 | (h) |   |
|   | Interest      expense                                                                             |   |   |   |                   66,756 | (i) |                     66,756 |
|   |                                                                                              |   |   |   |   |   |   |
|   | TOTAL      COSTS AND EXPENSES                                                                     |   |                 359,895 |   |                 621,246 |   |                   981,141 |
|   |                                                                                              |   |   |   |   |   |   |
|   | NET      INCOME (LOSS)                                                                            |   |              2,202,804 |   |                (271,246) | (j) |                1,931,558 |
|   |                                                                                              |   |   |   |   |   |   |
|   |                                                                                              |   |   |   |   |   |   |
| (f)    | Adjust      accrual for equipment leased from related company                                     |   |   |   |   |
|   |                                                                                              |   |   |   |   |   |   |
| (g)    | Reclassification      of the accumulated depreciation related to government grant of      $34,493 |   |   |
|   | and      segregate interest expense from general and administrative expense of      $66,756       |   |   |
|   |                                                                                              |   |   |   |   |   |   |
| (h)    | Reclassification      of government loan and grant                                                |   |   |   |   |
|   |                                                                                              |   |   |   |   |   |   |
| (i)    | Segregate      interest expense from general and administrative expense                           |   |   |
|   |                                                                                              |   |   |
| (j)    | Net      effect of adjustments on income                                                          |   |   |   |   |   |   |

----

| CHINA      AGRO SCIENCES CORP.                                                                                                             |
|--------------------------------------------------------------------------------------------------------------------------------------------|
| STATEMENTS      OF CASH FLOWS                                                                                                              |
|                                                                                                                                       |   |   |   |   |   |   |
|                                                                                                                                       |   | FILED      WITH 10K |   |   |   |  RESTATED |
|                                                                                                                                       |   |  SEPTEMBER      30, |   | ADJUSTMENTS |   |  SEPTEMBER      30, |
|                                                                                                                                       |   |  2006 |   |   |   |  2006 |
| OPERATING      ACTIVITIES:                                                                                                                 |   |   |   |   |   |   |
| Net      income (loss)                                                                                                                     |   |               2,202,804 |   |            (271,246) |  (l) |             1,931,558 |
| Adjustments      to reconcile net income (loss) to net cash                                                                                |   |   |   |   |   |   |
|   provided      by operating activities:                                                                                         |   |   |   |   |   |   |
|      Depreciation      of property and equipment                                                                  |   |                  454,948 |   |              (34,281) | (m) |                420,667 |
| Adjustments      to reconcile net loss to net                                                                                              |   |   |   |   |   |   |
| cash      used in operating activities:                                                                                                    |   |   |   |   |   |   |
|      Accounts      receivable                                                                                     |   |              (2,013,529) |   |   |   |           (2,013,529) |
|      Inventory                                                                                                    |   |                 (274,069) |   |   |   |              (274,069) |
|      Prepaid      expenses                                                                                        |   |                    35,560 |   |   |   |                  35,560 |
|      Other      current assets                                                                                    |   |                    (6,036) |   |   |   |                  (6,036) |
|      Accounts      payable                                                                                        |   |                  691,793 |   |   |   |                691,793 |
|                                                                                                                                       |   |   |   |   |   |   |
| NET      CASH PROVIDED BY OPERATING ACTIVITIES                                                                                             |   |               1,091,471 |   |            (305,527) |   |                785,944 |
|                                                                                                                                       |   |   |   |   |   |   |
| INVESTING      ACTIVITIES:                                                                                                                 |   |   |   |   |   |   |
|      Government      grant to purchase equipment                                                                  |   |                             - |   |              349,888 |  (n) |                349,888 |
|      Acquisition      of property and equipment                                                                   |   |                (317,958) |   |                          - |   |              (317,958) |
|                                                                                                                                       |   |   |   |   |   |   |
| NET      CASH USED IN INVESTING ACTIVITIES                                                                                                 |   |                (317,958) |   |              349,888 |   |                  31,930 |
|                                                                                                                                       |   |   |   |   |   |   |
| FINANCING      ACTIVITIES:                                                                                                                 |   |   |   |   |   |   |
|      Grants      from local government                                                                            |   |                (311,066) |   |              311,066 |  (o) |                            - |
|      Loans      from affiliated company                                                                           |   |                (686,017) |   |            (350,000) |  (p) |           (1,036,017) |
| NET      CASH USED IN FINANCING ACTIVITIES                                                                                                 |   |                (997,083) |   |              (38,934) |   |           (1,036,017) |
|                                                                                                                                       |   |   |   |   |   |   |
| EFFECT      OF EXCHANGE RATES ON CASH                                                                                                      |   |                 250,137 |   |                (5,427) |  (q) |                244,710 |
|                                                                                                                                       |   |   |   |   |   |   |
| INCREASE      ( DECREASE ) IN CASH                                                                                                         |   |                    26,567 |   |                          - |   |                  26,567 |
|                                                                                                                                       |   |   |   |   |   |   |
| CASH      - BEGINNING OF PERIOD                                                                                                            |   |                    77,250 |   |   |   |                  77,250 |
|                                                                                                                                       |   |   |   |   |   |   |
| CASH      - END OF PERIOD                                                                                                                  |   |                  103,817 |   |                          - |   |                103,817 |
|                                                                                                                                       |   |   |   |   |   |   |
| (l)  Net      effect of adjustments on income.                                                                                   |   |   |   |   |   |   |
|                                                                                                                                       |   |   |   |   |   |   |
| (m)  Reclassification      of the accumulated depreciation related to governmentgrant                                            |   |   |   |   |
|                                                                                                                                       |
| (n)  Reclassification      of the government grant which was specifically made to subsidize the      acquisition of fixed assets |
|                                                                                                                                       |   |   |   |   |   |   |
| (o)  Reclassification      of government grant to long term debt                                                                 |   |   |   |   |
|                                                                                                                                       |   |   |   |   |   |   |
| (p)  Adjust      accrual for equipment leased from related company                                                               |   |   |   |   |
|                                                                                                                                       |   |   |   |   |   |   |
| (q)  Changes      on foreign currency translation adjustment because the change of net      income.                              |   |   |

----

|   |
|--------|

|                                                  |   |
|-------------------------------------------------------|--------|
| ASSETS                                                |   |
|                                                  |   |   |   |
| INVESTMENT      IN SUBSIDIARIES                       |   | $ | 5,360,510 |   |
|                                                  |   |   |   |   |
| TOTAL      ASSETS                                     |   | $ | 5,360,510 |   |
|                                                  |   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS’ EQUITY       |   |
|                                                  |   |   |   |   |
| STOCKHOLDERS’      EQUITY                       |   | $ | 5,360,510 |   |
|                                                  |   |   |   |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS’ EQUITY |   | $ | 5,360,510 |   |
|                                                  |   |   |   |   |

|                                      |   |   |      |
|-------------------------------------------|--------|--------|-----------|
|                                      |   |   |      |
|                                      |   |   |      |
| INCOME      FROM EARNINGS OF SUBSIDIARIES |   | $      | 1,931,558 |   |
|                                      |   |   |      |   |
| NET      INCOME BEFORE INCOME TAXES       |   | $      | 1,931,558 |   |
|                                      |   |   |      |   |

|                                                                          |   |   |       |
|-------------------------------------------------------------------------------|--------|--------|------------|
| OPERATING      ACTIVITIES:                                                    |   |   |       |
|   Net      income                                                   |   | $      | 1,931,558  |   |
|   Adjustments      to reconcile net income to net                   |   |   |       |   |
|     cash      provided by operating activities:           |   |   |       |   |
|         Earnings      of subsidiaries |   |   | (1,931,558 | ) |
| NET      CASH PROVIDED BY OPERATING ACTIVITIES                                |   |   | -          |   |
|                                                                          |   |   |       |   |
| CASH      – BEGINNING OF PERIOD                                         |   |   | -          |   |
|                                                                          |   |   |       |   |
| CASH      – END OF PERIOD                                               |   | $      | -          |   |
|                                                                          |   |   |       |   |

----

----

| Name                |   | Age    |   | Position(s)                                                                                |
|---------------------|--------|--------|--------|--------------------------------------------------------------------------------------------|
|                |   |   |   |                                                                                       |
| Zhengquan      Wang |   | 63     |   | Chief      Executive Officer, Chief Financial Officer, Secretary, and Director      (2006) |

----

|                                                                                |                   | Annual      Compensation |                 | Long      Term Compensation            |
|-------------------------------------------------------------------------------------|------------------------|--------------------------|----------------------|----------------------------------------|
|                                                                                |                   |                     |                 |                                   |   | Awards |   | Payouts |
|   Name      andPrincipal      Position                                    |    Year |   Salary($)    |   Bonus($) |  Other      AnnualCompensation($) |   | Restricted      StockAwards($) | Securities      Underlying Options SARs(#) |   |  LTIP      Payouts($) |  All      OtherCompensation($) |
|                                                                                |                   |                     |                 |                                   |   |   |   |   |   |   |
| Zhengquan      Wang                                                                 | 2006                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
| Chief      Executive Officer, Chief Financial Officer, Secretary, and      Director |                   |                     |                 |                                   |   |   |   |   |   |   |
|                                                                                |                   |                     |                 |                                   |   |   |   |   |   |   |
| John      C. Leo                                                                    | 2006                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
| Ex-Secretary,      Ex- Director                                                     |                   |                     |                 |                                   |   |   |   |   |   |   |
|                                                                                |                   |                     |                 |                                   |   |   |   |   |   |   |
| Carl      M. Berg                                                                   | 2006                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
| Ex-Chairman,      Ex-President, Ex-Secretary, Ex-Treasurer                          | 2005                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
|                                                                                | 2004                   | -0-                      | -0-                  | 0-                                     |   | -0- | -0- |   | -0- | -0- |
|                                                                                |                   |                     |                 |                                   |   |   |   |   |   |   |
| Kevin      J. Gadawski                                                              | 2006                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
| Ex-Director                                                                         | 2005                   | -0-                      | -0-                  | 5,000                                  |   | -0- | -0- |   | -0- | -0- |
|                                                                                | 2004                   | -0-                      | -0-                  | 5,000                                  |   | -0- | -0- |   | -0- | -0- |
|                                                                                |                   |                     |                 |                                   |   |   |   |   |   |   |
| Mark      Stewart                                                                   | 2006                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
| Ex-Director                                                                         | 2005                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |
|                                                                                | 2004                   | -0-                      | -0-                  | -0-                                    |   | -0- | -0- |   | -0- | -0- |

| OPTION/SAR      GRANTS IN LAST FISCAL YEAR(Individual      Grants) |
|--------------------------------------------------------------------|
|                                                               |
| Name                                                               | Number      of SecuritiesUnderlyingOptions/SARs      Granted(#) | Percent      of TotalOptions/SARs      Grantedto      Employees In FiscalYear | Exercise      or Base Price($/Sh) | Expiration      Date |
|                                                               |   |   |   |   |
| Zhengquan      Wang                                                | -0- | N/A | N/A | N/A |
|                                                               |   |   |   |   |
| John      C. Leo                                                   | -0- | N/A | N/A | N/A |

| AGGREGATED      OPTIONS/SAR EXERCISES IN LAST FISCAL YEARAND      FY-END OPTION/SAR VALUES |
|--------------------------------------------------------------------------------------------|
|                                                                                       |   |   |   |   |
| Name                                                                                       | Shares      Acquired OnExercise(#) | Value      Realized($) | Number      of UnexercisedSecurities      UnderlyingOptions/SARs      at FY-End(#)Exercisable/Unexercisable | Value      of UnexercisedIn-The-MoneyOption/SARsat      FY-End($)Exercisable/Unexercisable |
|                                                                                       |   |   |   |   |
| Zhengquan      Wang                                                                        | N/A | N/A | N/A | N/A |
|                                                                                       |   |   |   |   |
| John      C. Leo                                                                           | N/A | N/A | N/A | N/A |

----

|   Common Stock  |
|--------------------------------|
|  Title of Class           |  Name and Addressof Beneficial Owner |  Amount and Nature ofBeneficial Ownership |  Percentof Class (1) |
|  Common      Stock        |  Zhengquan      Wang (2)(3) |  16,000,000      (4) |  80.0%      (4) |
|  Common      Stock        |  All      Directors and OfficersAs      a Group (2 persons)  |  16,000,000      (4) |  80.0%      (4) |

|   | (1) | Unless      otherwise indicated, based on 20,000,000 shares of common stock issued and      outstanding following the Merger.  Shares of common stock      subject to options or warrants currently exercisable, or exercisable      within 60 days, are deemed outstanding for purposes of computing the      percentage of the person holding such options or warrants, but are not      deemed outstanding for the purposes of computing the percentage of any      other person. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Indicates      one of our officers or directors. |
|--------|-----|--------------------------------------------------|

|   | (3) | Unless      indicated otherwise, the address of the shareholder is 101 Xinanyao      Street, Jinzhou District, Dalian, Liaoning Province, PRC      116100. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Includes      3,000,000 shares held by Xiufen Bi, 3,000,000 shares held by Qiming Wang,      2,000,000 shares held by Yinghua Wang, and 2,000,000 shares held by Feng      Yang, Mr. Wang’s spouse, son, daughter, and son-in-law,      respectively. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| Report      of Independent Certified Public Accountants                                         |   |
|-------------------------------------------------------------------------------------------------|--------|
|                                                                                            |   |
| Consolidated      Balance Sheet as of September 30, 2006 and 2005                               | F-1    |
|                                                                                            |   |
| Consolidated      Statement of Operations for the years ended September 30, 2006 and      2005  | F-2    |
|                                                                                            |   |
| Statement      of Changes in Stockholders’ Equity                                         | F-3    |
|                                                                                            |   |
| Consolidated      Statements of Cash Flows for the years ended September 30, 2006 and      2005 | F-4    |
|                                                                                            |   |
| Notes      to Financial Statements                                                              | F-5    |

|          |   |                                                                                                                                                         |
|---------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1      (1)  |   | Articles      of Incorporation of China Agro Sciences Corp.                                                                                                  |
|          |   |                                                                                                                                                         |
| 3.2      (1)  |   | Bylaws      of China Agro Sciences Corp.                                                                                                                     |
|          |   |                                                                                                                                                         |
| 3.3      (2)  |   | Articles      of Amendment to Articles of Incorporation Changing Name to China Agro      Sciences Corp.                                                      |
|          |   |                                                                                                                                                         |
| 3.4      (2)  |   | Articles      of Merger Merging DaLian Acquisition Corp. into China Agro Sciences      Corp.                                                                 |
|          |   |                                                                                                                                                         |
| 10.1      (3) |   | Agreement      and Plan of Merger dated March 15, 2006                                                                                                       |
|          |   |                                                                                                                                                         |
| 10.2      (2) |   | Extension      of Closing Date                                                                                                                               |
|          |   |                                                                                                                                                         |
| 10.3      (2) |   | Agreement      to Terminate Warrants dated April 28, 2006 by and between Clark Johnson      and M-GAB Development Corporation                                |
|          |   |                                                                                                                                                         |
| 10.4      (2) |   | Agreement      to Terminate Warrants dated April 28, 2006 by and between AMRES Holding,      LLC and M-GAB Development Corporation                           |
|          |   |                                                                                                                                                         |
| 10.5      (2) |   | Agreement      to Terminate Options dated April 28, 2006 by and between Kevin Gadawski      and M-GAB Development Corporation                                |
|          |   |                                                                                                                                                         |
| 10.6      (2) |   | Agreement      to Terminate Options dated April 28, 2006 by and between Mark Stewart and      M-GAB Development Corporation                                  |
|          |   |                                                                                                                                                         |
| 10.7      (2) |   | Form      N-54C                                                                                                                                              |
|          |   |                                                                                                                                                         |
| 31.1          |   | Rule      13a-14(a)/15d-14(a) Certification of Chief Executive    Officer                                                                                    |
|          |   |                                                                                                                                                         |
| 31.2          |   | Rule      13a-14(a)/15d-14(a) Certification of Chief Financial    Officer                                                                                    |
|          |   |                                                                                                                                                         |
| 32.1          |   | Chief      Executive Officer Certification Pursuant to 18 USC, Section 1350, as      Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002. |
|          |   |                                                                                                                                                         |
| 32.2          |   | Chief      Financial Officer Certification Pursuant to 18 USC, Section 1350, as      Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of      2002. |

|                                                                                                                                                         | China      Agro Sciences Corp.                                                                  |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------|
|                                                                                                                                                         |                                                                                            |
|                                                                                                                                                         |                                                                                            |
| Dated:                      April      3, 2008 | /s/  Zhengquan      Wang                                                              |
|                                                                                                                                                         | By:           Zhengquan      Wang        |
|                                                                                                                                                         | Its:           President,      Director, |
|                                                                                                                                                         | Chief Executive      Officer,Chief Financial      Officer                                       |

----