| Nevada                                                         |   | N/A                                                        |
|----------------------------------------------------------------|--------|------------------------------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.)                       |
|                                                           |   |                                                       |
| 7170 Glover RoadMilner, B.C., Canada  V0X 1T0        |   | 604-888-0420                                               |
| (Address of principal executive offices) (Zip Code)            |   | (Registrant’s telephone number, including area code) |

----

| PART I - FINANCIAL INFORMATION                                                 |   |
|--------------------------------------------------------------------------------|--------|
| Item 1.  Financial Statements                                             |   |
| Results of Operation                                                           |   |
| Balance Sheet Data: 4/30/11                                                    |   |
| Plan of Operation                                                              |   |
| ITEM 1.  LEGAL PROCEEDINGS                                                |   |
| ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCCEDS |   |
| ITEM 3.  DEFAULTS UPON SENIOR SECURITIES                                  |   |
| ITEM 4.  REMOVED AND RESERVED                                             |   |
| ITEM 5.  OTHER INFORMATION                                                |   |
| ITEM 6.  EXHIBITS                                                         |   |

----

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

| Consolidated Balance Sheets                    | F-1 |
|------------------------------------------------|-----|
| Consolidated Statements of Operations          | F-2 |
| Consolidated Statements of Cash Flows          | F-3 |
| Notes to the Consolidated Financial Statements | F-4 |

----

|                                                                                                                                                                 |   | April 30,2011$(unaudited) |     |   | July 31,2010$ |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|----------|--------|---------------|--------|
|                                                                                                                                                                 |   |                      |     |   |          |   |
| ASSETS                                                                                                                                                               |   |                      |     |   |          |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |
| Current Assets                                                                                                                                                       |   |                      |     |   |          |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |
| Cash                                                                                                                                                                 |   |                      | 253      |   |          |   | 5,642 |   |
| Prepaid Expenses                                                                                                                                                     |   |                      | 175      |   |          |   | 23,410 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Total Current Assets                                                                                                                                                 |   |                      | 428      |   |          |   | 29,052 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Deferred Financing Charges                                                                                                                                           |   |                      | 250,000  |   |          |   | 250,000 |   |
| Property and Equipment (Note 3)                                                                                                                                      |   |                      | 11,843   |   |          |   | 13,686 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Total Assets                                                                                                                                                         |   |                      | 262,271  |   |          |   | 292,738 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                           |   |                      |     |   |          |   |   |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Current Liabilities                                                                                                                                                  |   |                      |     |   |          |   |   |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Accounts Payable                                                                                                                                                     |   |                      | 51,195   |   |          |   | 20,685 |   |
| Due to a Related Party (Note 4)                                                                                                                                      |   |                      | 54,580   |   |          |   | 4,423 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Total Liabilities                                                                                                                                                    |   |                      | 105,775  |   |          |   | 25,108 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Stockholders’ Equity                                                                                                                                           |   |                      |     |   |          |   |   |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Common StockAuthorized: 100,000,000 common shares, with a par value of $0.001 per shareIssued and outstanding: 53,804,768 and 49,804,768 common shares, respectively |   |                      | 53,805   |   |          |   | 49,805 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Additional Paid-In Capital                                                                                                                                           |   |                      | 800,939  |   |          |   | 569,176 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Share Subscriptions Receivable                                                                                                                                       |   |                      | (25,000  | )      |          |   | – |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Accumulated Deficit During the Development Stage                                                                                                                     |   |                      | (673,248 | )      |          |   | (351,351 | ) |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Total Stockholders’ Equity                                                                                                                                     |   |                      | 156,496  |   |          |   | 267,630 |   |
|                                                                                                                                                                 |   |                      |     |   |          |   |   |   |
| Total Liabilities and Stockholders’ Equity                                                                                                                     |   |                      | 262,271  |   |          |   | 292,738 |   |

----

|                                     |   | For the Three Months EndedApril 30,2011 |       |   | For the Three Months EndedApril 30,2010 |   |       |  For the Nine Months EndedApril 30,2011 |   |   |  For the Nine Months EndedApril 30,2010 |   |   | Accumulated from July 3, 2009 (Date of Inception) toApril 30,2011 |       |
|------------------------------------------|--------|-----------------------------------------|------------|--------|-----------------------------------------|--------|------------|----------------------------------------------|--------|--------|----------------------------------------------|--------|--------|-------------------------------------------------------------------|------------|
|                                     |   | $                                       |       |   | $                                       |   |       | $                                            |   |   | $                                            |   |   | $                                                                 |       |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |
| Revenue                                  |   |                                    | –    |   |                                    |   | –    |                                         |   |   | –                                      |   |   |                                                              | –    |   |   |   | – |   |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Expenses                                 |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Depreciation (Note 3)                    |   |                                    | 614        |   |                                    |   | 980        |                                         |   |   | 1,843                                        |   |   |                                                              | 1,632      |   |   |   | 4,088 |   |
| Foreign exchange loss                    |   |                                    | 4,381      |   |                                    |   | 2,235      |                                         |   |   | 5,961                                        |   |   |                                                              | 4,565      |   |   |   | 12,748 |   |
| Impairment of website development costs  |   |                                    | –    |   |                                    |   | –    |                                         |   |   | –                                      |   |   |                                                              | –    |   |   |   | 6,553 |   |
| General and administrative               |   |                                    | 22,631     |   |                                    |   | 28,089     |                                         |   |   | 239,275                                      |   |   |                                                              | 44,500     |   |   |   | 325,239 |   |
| Professional fees                        |   |                                    | 18,293     |   |                                    |   | 52,076     |                                         |   |   | 72,991                                       |   |   |                                                              | 110,278    |   |   |   | 200,053 |   |
| Research and development                 |   |                                    | 629        |   |                                    |   | 8,427      |                                         |   |   | 1,827                                        |   |   |                                                              | 28,858     |   |   |   | 26,601 |   |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Total Expenses                           |   |                                    | 46,548     |   |                                    |   | 91,807     |                                         |   |   | 321,897                                      |   |   |                                                              | 189,833    |   |   |   | 575,282 |   |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Operating Loss                           |   |                                    | (46,548    | )      |                                    |   | (91,807    | )                                            |   |   | (321,897                                     | )      |   |                                                              | (189,833   | ) |   |   | (575,282 | ) |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Other expenses                           |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Interest and accretion expense           |   |                                    | –    |   |                                    |   | (4,550     | )                                            |   |   | –                                      |   |   |                                                              | (16,344    | ) |   |   | (63,578 | ) |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Net Loss                                 |   |                                    | (46,548    | )      |                                    |   | (96,357    | )                                            |   |   | (321,897                                     | )      |   |                                                              | (206,177   | ) |   |   | (638,860 | ) |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Loss Per Share – Basic and Diluted |   |                                    | –    |   |                                    |   | –    |                                         |   |   | (0.01                                        | )      |   |                                                              | (0.01      | ) |   |   |   |   |
|                                     |   |                                    |       |   |                                    |   |       |                                         |   |   |                                         |   |   |                                                              |       |   |   |   |   |   |
| Weighted Average Shares Outstanding      |   |                                    | 53,433,981 |   |                                    |   | 48,561,893 |                                         |   |   | 51,423,816                                   |   |   |                                                              | 26,625,204 |   |   |   |   |   |

----

|                                             |   | For the Nine Months EndedApril 30,2011 |     |   | For the Nine Months EndedApril 30,2010 |   |     | Accumulated from July 3, 2009 (Date of Inception) toApril 30,2011 |   |
|--------------------------------------------------|--------|---------------------------------------------|----------|--------|---------------------------------------------|--------|----------|-------------------------------------------------------------------|--------|
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |
| Operating Activities                             |   |                                        |     |   |                                        |   |     |                                                              |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |
| Net loss for the period                          |   |                                        | (321,897 | )      |                                        |   | (206,177 | )                                                                 |   |   | (638,860 | ) |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Adjustments to reconcile net loss to net cash    |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| provided by (used in) operating activities:      |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Accretion of discounts on convertible debentures |   |                                        | –  |   |                                        |   | 14,033   |                                                              |   |   | 47,433 |   |
| Shares issued for services                       |   |                                        | 191,668  |   |                                        |   | –  |                                                              |   |   | 191,668 |   |
| Depreciation                                     |   |                                        | 1,843    |   |                                        |   | 1,632    |                                                              |   |   | 4,088 |   |
| Impairment of website development costs          |   |                                        | –  |   |                                        |   | –  |                                                              |   |   | 6,553 |   |
| Stock-based compensation                         |   |                                        | 19,095   |   |                                        |   | –  |                                                              |   |   | 19,095 |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Changes in operating assets and liabilities:     |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Prepaid expense                                  |   |                                        | 23,235   |   |                                        |   | (11,000  | )                                                                 |   |   | – |   |
| Accounts payable                                 |   |                                        | 30,510   |   |                                        |   | 34,507   |                                                              |   |   | 35,947 |   |
| Due to related parties                           |   |                                        | 50,157   |   |                                        |   | 32,891   |                                                              |   |   | 54,580 |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Net Cash Used In Operating Activities            |   |                                        | (5,389   | )      |                                        |   | (134,114 | )                                                                 |   |   | (279,496 | ) |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Investing Activities                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Purchase of property and equipment               |   |                                        | –  |   |                                        |   | (3,326   | )                                                                 |   |   | (3,242 | ) |
| Cash acquired on recapitalization                |   |                                        | –  |   |                                        |   | 86,401   |                                                              |   |   | 86,401 |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Net Cash Used In Investing Activities            |   |                                        | –  |   |                                        |   | 83,075   |                                                              |   |   | 83,159 |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Financing Activities                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Proceeds from issuance of common shares          |   |                                        | –  |   |                                        |   | 202,691  |                                                              |   |   | 204,536 |   |
| Repayment of loan payable                        |   |                                        | –  |   |                                        |   | (7,946   | )                                                                 |   |   | (7,946 | ) |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Net Cash Provided By Financing Activities        |   |                                        | –  |   |                                        |   | 194,745  |                                                              |   |   | 196,590 |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Increase (Decrease) in Cash                      |   |                                        | (5,389   | )      |                                        |   | 143,706  |                                                              |   |   | 253 |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Cash – Beginning of Period                 |   |                                        | 5,642    |   |                                        |   | 1,081    |                                                              |   |   | – |   |
|                                             |   |                                        |     |   |                                        |   |     |                                                              |   |   |   |   |
| Cash – End of Period                       |   |                                        | 253      |   |                                        |   | 144,787  |                                                              |   |   | 253 |   |

----

|                 |   |   Cost$ |   |   |  AccumulatedAmortization$ |   |   | April 30,2011Net Carrying Value$ |   |   | July 31,2010Net Carrying Value$ |   |
|----------------------|--------|-------------------|--------|--------|--------------------------------|--------|--------|----------------------------------|--------|--------|---------------------------------|--------|
|                 |   |              |   |   |                           |   |   | (unaudited)                      |   |   |                            |   |
|                 |   |              |   |   |                           |   |   |                             |   |   |                            |   |   |   |   |   |
| Production equipment |   |              | 15,529 |   |                           |   | 3,686  |                             |   |   | 11,843                          |   |   |   | 13,686 |   |

----

| (a) | On December 28, 2010, the Company issued 2,000,000 common shares with a fair value of $80,000 for consulting services. |
|-----|------------------------------------------------------------------------------------------------------------------------|

| (b) | On December 28, 2010, the Company issued 1,500,000 common shares upon the exercise of stock options for consulting services with a fair value of $52,500. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | On April 7, 2011, the Company issued 500,000 common shares at $0.05 per share for proceeds of $25,000 upon the exercise of outstanding stock options.  As at April 30, 2011, the amount has been recorded as share subscriptions receivable. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                        |   | Number ofWarrants |    |   | Weighted Average Exercise Price$ |   |
|-------------------------------------------------------------|--------|-------------------|---------|--------|----------------------------------|--------|
|                                                        |   |              |    |   |                             |   |
| Outstanding, July 31, 2009                                  |   |              | – |   |                             |   | – |   |
|                                                        |   |              |    |   |                             |   |   |   |
| Issued                                                      |   |              | 371,500 |   |                             |   | 1.18 |   |
|                                                        |   |              |    |   |                             |   |   |   |
| Outstanding, July 31, 2010 and January 31, 2011 (unaudited) |   |              | 371,500 |   |                             |   | 1.18 |   |

| Number of Warrants | Exercise Price$ | Expiry Date       |
|--------------------|-----------------|-------------------|
|               |            |              |
| 49,000             | 1.50            | March 25, 2011    |
| 10,000             | 1.50            | March 30, 2011    |
| 12,500             | 1.50            | April 30, 2011    |
| 50,000             | 1.25            | December 17, 2011 |
| 250,000            | 1.08            | February 10, 2012 |
|               |            |              |
| 371,500            |            |              |

----

|                                |   | Number of Options |       |   | Weighted Average Exercise Price |   |    | Weighted-Average Remaining Contractual Term(years) |   |   | Aggregate Intrinsic Value |   |
|-------------------------------------|--------|-------------------|------------|--------|---------------------------------|--------|---------|----------------------------------------------------|--------|--------|---------------------------|--------|
|                                |   |              |       |   | $                               |   |    |                                               |   |   |                      |   | $ |   |
|                                |   |              |       |   |                            |   |    |                                               |   |   |                      |   |   |   |
| Outstanding, July 31, 2009 and 2010 |   |              | –    |   |                            |   | – |                                               |   |   |                      |   |   |   |   |   |
|                                |   |              |       |   |                            |   |    |                                               |   |   |                      |   |   |   |   |   |
| Granted                             |   |              | 2,000,000  |   |                            |   | 0.039   |                                               |   |   |                      |   |   |   |   |   |
| Exercised                           |   |              | (2,000,000 | )      |                            |   | 0.039   |                                               |   |   |                      |   |   |   |   |   |
|                                |   |              |       |   |                            |   |    |                                               |   |   |                      |   |   |   |   |   |
| Outstanding, April 30, 2011         |   |              | –    |   |                            |   | – |                                               |   |   | –                   |   |   |   | – |   |

|                                                  |   | Forthe Nine Months EndedApril 30,2011$ |    |   | For the Nine Months EndedApril 30,2010$ |   |    | Accumulated from July 3, 2009 (Date of Inception) to April 30,2011$ |   |
|-------------------------------------------------------|--------|----------------------------------------|---------|--------|-----------------------------------------|--------|---------|---------------------------------------------------------------------|--------|
| Interest paid                                         |   |                                   | – |   |                                    |   | – |                                                                |   |   | – |   |
| Income tax paid                                       |   |                                   | – |   |                                    |   | – |                                                                |   |   | – |   |
|                                                  |   |                                   |    |   |                                    |   |    |                                                                |   |   |   |   |
| Non-cash investing and financing activities:          |   |                                   |    |   |                                    |   |    |                                                                |   |   |   |   |
| Shares issued for payment of consulting fees          |   |                                   | 122,500 |   |                                    |   | – |                                                                |   |   | 122,500 |   |
| Shares issued for settlement of loan payable          |   |                                   | – |   |                                    |   | – |                                                                |   |   | 42,500 |   |
| Shares issued for settlement of convertible debt      |   |                                   | – |   |                                    |   | – |                                                                |   |   | 74,511 |   |
| Shares issued for deposit for financing fee           |   |                                   | – |   |                                    |   | – |                                                                |   |   | 250,000 |   |
| Loans payable acquired from recapitalization          |   |                                   | – |   |                                    |   | – |                                                                |   |   | 50,446 |   |
| Convertible debentures acquired from recapitalization |   |                                   | – |   |                                    |   | – |                                                                |   |   | 58,367 |   |

----

----

Results of Operations

| Balance Sheet Data:  |   | 4/30/11 |    |
|----------------------|--------|---------|---------|
| Cash                 |   | $       | 253     |   |
| Fixed assets         |   | $       | 11,843  |   |
| Total assets         |   | $       | 262,271 |   |
| Total liabilities    |   | $       | 105,775 |   |
| Shareholders' equity |   | $       | 156,496 |   |

----

Plan of Operation

| Description                                               | Potential Completion Date | Estimated Expenses($) |
|-----------------------------------------------------------|---------------------------|-----------------------|
| Seedling purchases                                        | 12 months                 | 96,000                |
| Packaging                                                 | 12 months                 | 76,800                |
| Direct cost of sales (including research and development) | 12 months                 | 979,200               |
| Shipping                                                  | 12 months                 | 225,000               |
| Payroll                                                   | 12 months                 | 350,000               |
| Advertising and marketing                                 | 12 months                 | 370,000               |
| General and administrative expenses                       | 12 months                 | 204,800               |
| Total                                                     |                      | 2,301,800             |

----

| a.  | Basis of Accounting |
|----------|---------------------|

| b.  | Loss Per Share |
|----------|----------------|

| c.  | Use of Estimates and Assumptions |
|----------|----------------------------------|

| d.  | Foreign Currency Translation |
|----------|------------------------------|

----

----

ITEM 1.  LEGAL PROCEEDINGS

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCCEDS

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

ITEM 4.  REMOVED AND RESERVED

ITEM 5.  OTHER INFORMATION

ITEM 6.  EXHIBITS

| Exhibit No. | Description                                                      |
|-------------|------------------------------------------------------------------|
| 10.1        | Share Exchange Agreement as filed on Form 8-K filed June 1, 2011 |
| 10.2        | Share Issuance as filed on Form 8-K filed June 3, 2011           |
| 31.1        | Sec. 302 Certification of Principal Executive Officer            |
| 31.2        | Sec. 302 Certification of Principal Financial Officer            |
| 32.1        | Sec. 906 Certification of Principal Executive Officer            |
| 32.2        | Sec. 906 Certification of Principal Financial Officer            |

----

| June 15, 2010  |   | Urban Barns Foods Inc.                                                 |
|--------------------------|--------|------------------------------------------------------------------------|
|                     |   |                                                                   |
|                     | By:    | /s/ Jacob Benne                                                        |
|                     |   | Jacob Benne                                                            |
|                     |   | (Chief Executive Officer, President, & Director)                   |
|                     |   |                                                                   |
|                     | By:    | /s/ Daniel Meikleham                                                   |
|                     |   | Daniel Meikleham                                                       |
|                     |   | (Chief Financial Officer, Principal Accounting Officer & Director) |