UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 10-K

(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                   For the fiscal year ended December 31, 2010
                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

           For the transition period from ____________ to ___________

                         Commission File Number 0-32323

                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC
             (Exact name of registrant as specified in its charter)

           Nevada                                       20-1217659
(State or Other Jurisdiction of             (I.R.S. Employer Identification No.)
 Incorporation or Organization)

      17800 Castleton Street, Suite 638, City of Industry, California 91748
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (626) 581-8500

        Securities registered pursuant to Section 12(b) of the Act: None

           Securities registered pursuant to Section 12(g) of the Act:

                               Title of Each Class
                         Common Stock, $.00001 par value

Indicate by check mark if the  registrant  is a  well-known  seasoned  issuer as
defined in Rule 405 of the Securities Act. Yes [ ] No [X]

Indicate  by  check  mark if the  registrant  is not  required  to file  reports
pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [X]

Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required by Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 during
the  preceding  12 months (or for such  shorter  period that he  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted  electronically  and
posted on its corporate Website, if any, every Interactive Data File required to
be submitted and posted pursuant to Rule 405 of Regulation S-T (Sec.  232.405 of
this chapter)  during the  preceding 12 months (or for such shorter  period that
the registrant was required to submit or post such files). Yes [ ] No [ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S- K is not contained  herein,  and will not be contained,  to the
best  of  the  registrant's   knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part  III of this  Form  10-K or any
amendment to this Form 10-K. [ ]

Indicate by check mark whether the registrant is a large  accelerated  filer, an
accelerated filer, a non-accelerated  filer or a smaller reporting company.  See
definitions  of "large  accelerated  filer,"  "accelerated  filer," and "smaller
reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]                        Accelerated filer [ ]
Non-accelerated filer [ ]                          Smaller reporting company [X]

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Act). Yes [ ] No [X]

The aggregate  marker value of the voting and  non-voting  common equity held by
non-affiliates computed by reference to the price at which the common equity was
last sold, or the average bid and asked price of such common  equity,  as of the
last  business day of the  Registrant's  most recently  completed  second fiscal
quarter (June 30, 2010) was approximately $1,376,245.

As of March 28,  2011,  there  were  4,269,947,486  shares of our  common  stock
outstanding.

                    DOCUMENTS INCORPORATED BY REFERENCE: None

<PAGE>
                                TABLE OF CONTENTS

ITEMS                                                                       PAGE
-----                                                                       ----

                                     PART I

Item 1.  Business                                                             4
Item 1A. Risk Factors                                                        10
Item 1B. Unresolved Staff Comments                                           10
Item 2.  Properties                                                          10
Item 3.  Legal Proceedings                                                   10
Item 4.  (Removed and Reserved)                                              10

                                     PART II

Item 5.  Market For Common Equity and Related Stockholder Matters and
         Issuer Purchases of Equity Securities                               10
Item 6.  Selected Financial Data                                             12
Item 7.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                           12

Item 7A. Quantitative and Qualitative Disclosure About Market Risks          17
Item 8.  Financial Statements and Supplementary Data                         17
Item 9.  Changes in and Disagreements with Accountants on                    17
         Accounting and Financial Disclosure
Item 9A. Controls and Procedures                                             17
Item 9B. Other Information                                                   20

                                    PART III

Item 10. Directors, Executive Officers and Corporate Governance              20
Item 11. Executive Compensation                                              23
Item 12. Security Ownership of Certain Beneficial Owners and Management
         and Related Stockholder Matters                                     25
Item 13  Certain Relationships and Related Transactions, and Director
         Independence                                                        26
Item 14. Principal Accounting Fees and Services                              26

                                     PART IV

Item 15. Exhibits, Financial Statement Schedules                             27

                                       2
<PAGE>
                              CAUTIONARY STATEMENT

     This Form 10-K contains "forward-looking  statements" within the meaning of
the Private  Securities  Litigation  Reform Act of 1995.  Some of the statements
contained in this Form 10-K for International  Building Technologies Group, Inc.
("Company")  discuss  future  expectations,  contain  projections  of results of
operation or financial condition or state other  "forward-looking"  information.
These  statements  are subject to known and unknown  risks,  uncertainties,  and
other  factors  that could cause the actual  results to differ  materially  from
those contemplated by the statements.  The forward-looking  information is based
on various factors and is derived using numerous assumptions.

     Management  expresses its  expectations,  beliefs and  projections  in good
faith  and  believes  the  expectations   reflected  in  these   forward-looking
statements  are based on  reasonable  assumptions;  however,  Management  cannot
assure current stockholders or prospective stockholders that these expectations,
beliefs  and  projections  will  prove  to  be  correct.   Such  forward-looking
statements  reflect the current views of Management  with respect to the Company
and anticipated future events.

     Management cautions current stockholders and prospective  stockholders that
such forward-looking statements,  including,  without limitation, those relating
to the Company's future business prospects,  demand for its products,  revenues,
capital needs, expenses, development and operation costs, wherever they occur in
this Form 10-K, as well as in the documents  incorporated  by reference  herein,
are not guarantees of future  performance or results,  but are simply  estimates
reflecting  the best  judgment of  Management  and involve a number of risks and
uncertainties  that could cause actual results to differ  materially  from those
suggested by such forward-looking statements.

     Important  factors that may cause actual results to differ from projections
include, for example:

     *    the  success or failure of  management's  efforts to  implement  their
          business strategy;
     *    the  ability  of the  Company  to  raise  sufficient  capital  to meet
          operating requirements;
     *    the  uncertainty  of consumer  demand for our  products,  services and
          technologies;
     *    the  ability  of the  Company  to protect  its  intellectual  property
          rights;
     *    the  ability  of  the  Company  to  compete  with  major   established
          companies;
     *    the effect of changing economic conditions;
     *    the ability of the Company to attract and retain quality employees;
     *    the current global recession and financial uncertainty; and
     *    other risks which may be described in future filings with the SEC.

     Words such as "anticipates,"  "expects,"  "intends,"  "plans,"  "believes,"
"seeks,"  "estimates," and variations of such words and similar  expressions are
intended to identify such forward-looking  statements.  These statements are not
guarantees of future performance and are subject to certain risks, uncertainties
and  assumptions  that are difficult to predict.  Therefore,  actual results and
outcomes may differ  materially from what is expressed or forecasted in any such
forward-looking  statements.  Unless required by law, the Company  undertakes no
obligation  to update  publicly  any  forward-looking  statements,  whether as a
result of new information, future events or otherwise.

                                       3
<PAGE>
                                     PART I

ITEM 1. BUSINESS.

BUSINESS DEVELOPMENT

International  Building Technologies Group, Inc. ("Company") was incorporated as
Ten Stix Inc.  on January  10,  1996 under the laws of the State of  Colorado to
engage in the design,  development  and marketing of unique card games and other
gaming products for the gaming  industry.  Ten Stix,  Inc.  changed its domicile
from Colorado to Nevada in 2004.

     During 2004, the Company  amended its Articles of  Incorporation  to change
its name to Motorsports Emporium, Inc. in order to bring the name of the Company
in line with its then new business focus,  targeting  motor sports  enthusiasts.
During 2004,  the Company  divested  itself of all interest in Ten Stix Inc. and
the gaming business.

     As a result of the change in control and new business  focus of the Company
occasioned by the events  discussed  below,  the Company amended its Articles of
Incorporation to change its name to International  Building  Technologies Group,
Inc. in 2007.

     As  previously  reported  in a Current  Report  on Form 8-K filed  with the
Securities and Exchange  Commission on October 26, 2010, we amended our Articles
of  Incorporation  by increasing the number of shares of our authorized  capital
from four billion shares to six billion  shares.  As a result of this amendment,
we now have  5,950,000,000  shares of common  stock  authorized  and  50,000,000
shares of preferred stock authorized.

BUSINESS TRANSFORMATION

     The Company  divested its motor sports related assets and began to focus on
its current business related to building technologies,  when on May 2, 2007, the
Company entered into a Stock Sale and Purchase  Agreement with Axia Group,  Inc.
("Axia") and International  Building  Technologies,  Inc.  ("IBT"),  pursuant to
which  the  Company  acquired   50,000,000   shares  of  IBT  common  stock  (or
approximately  80% of IBT's issued and  outstanding  common stock) from Axia for
consideration   consisting  of  a  (i)  $1,000,000  convertible  note  and  (ii)
20,000,000  shares of the  Company's  common stock.  On September 25, 2007,  the
Company and Axia  renegotiated the purchase price of the 80% equity stake in IBT
and made a downward adjustment of $1,000,000 to the purchase price and cancelled
the convertible note.

     As a result of the  transaction  with Axia and IBT,  the Company  dedicated
itself  to  providing  innovative  solutions  for  the  construction  of  homes,
buildings  and  communities  around  the world,  offering  a  complete  turn-key
approach to most projects from design and engineering to materials, training and
construction  assistance.  Acting through,  IBT, a Nevada  corporation,  and its
wholly owned subsidiary International Building Technologies Co., Ltd. ("IBT Hong
Kong"), a Hong Kong corporation,  we are a worldwide  manufacturer and developer
of light panel  technology to be used in residential  and  commercial  business,
primarily in regions that are at risk of earthquakes and hurricane-like winds.

THE COMPANY BUSINESS

     The Company is in the business of  manufacturing,  marketing  and providing
equipment and materials to the building and construction industries. The Company
is dedicated to providing unique and sustainable  construction  methods that can
be used in developing and developed countries around the world.

     The Company is a developer and provider of a superior  panel based building
technology.  Our panel  technology  is  superior  to many  traditional  building
methods, offers greater strength and resistance to winds and hurricanes, as well
as  providing a  sustainable  building  solution  that does not utilize  timber,
provides high insulation  values and is resistant to bugs, mold and rot. See the
discussion under "IBT Panel Technology," below.

                                       4
<PAGE>
     Our panel technology allows for the rapid,  cost effective  construction of
residential,  commercial,  and high-rise  buildings utilizing materials that are
superior in strength and appearance,  economical and  eco-friendly.  The Company
provides  customers  with  architectural  design,  panel  supply,   installation
supervision, engineering, training and technical support.

     Drawing on decades of experience in the construction  industry in China and
other  countries in the Far East, the Company is seeking to develop new business
in China, as well as establishing a manufacturing facility for our equipment and
materials to customers  throughout the world.  We plan to manufacture  equipment
for our own projects,  as well as exporting equipment and materials to customers
throughout the world.

     The  Company  has  also  been  working   with   investors  to  establish  a
Company-operated panel production factory in China's Sichuan Province. This plan
has been received with great interest by the Sichuan  Construction  Bureau,  the
government authority in governing major construction  projects in rebuilding the
earthquake region in Sichuan Province.

IBT PANEL TECHNOLOGY

     As stated  above,  the  Company is a developer  and  provider of a superior
panel  based  building  technology.  Our panel  technology  is  superior to many
traditional  building  methods,  offers greater strength and resistance to winds
and hurricanes,  as well as providing a sustainable  building solution that does
not utilize timber,  provides high  insulation  values and is resistant to bugs,
mold and rot.

     The components of our panels are simple, but effective:

     *    A light weight, high tensile treated galvanized steel wire cage;
     *    A core of expanded polystyrene;
     *    Connected and held in place by a logical series of treated  galvanized
          trusses;
     *    A coat of Portland  cement,  either gun or manually  applied to bother
          sides; and
     *    IBT  panel  technology   complies  with  European  and  U.S.  Standard
          ICBO-ER-3509

     Based on standard building codes prescribed by authorities  worldwide,  our
IBT technology will meet and exceed the minimum requirements. This includes load
tests of transverse,  vertical compression and racking shear load and fire tests
including corner room burn and fire exposure under load.

SUPERIOR STRENGTH AND VALUE

     *    Earthquakes
          *    The IBT technology  system is 30% more resistant when it comes to
               seismic movement when compared to the traditional block system.

     *    Hurricanes
          *    The  IBT  technology  has  a  structural  capacity  to  withstand
               hurricane-like winds up to 180 km per hour.

     *    Fires
          *    The IBT  technology can undertake fire exposure for more than one
               and a half hours.

     *    Insulation
          *    The expanded polystyrene used in the IBT technology system has an
               acoustic  insulation  capacity  that is 4 times  higher  than the
               traditional  block  system and has  thermal  insulation  that can
               isolate heat 8 times more than construction using the traditional
               block system.

     *    Environmental Safety
          *    Raw materials used in the  manufacturing of expanded  polystyrene
               do not expel toxic fumes into the atmosphere.

                                       5
<PAGE>
ADVANTAGES

     *    Versatile Design and Use
          *    Complete  architectural  freedom and flexibility,  sound barrier,
               security and property  walls  exterior and interior wall systems,
               roof systems,  flat and pitched.  This technology can be used for
               multi-story buildings, walls and floors.

     *    Spectacular Visual Appeal
          *    No evidence of  prefabrication  after  application  of  concrete,
               which can have a variety of finishes, smooth to heavily textured.

     *    Environment Friendly and Energy Saving
          *    No wood or timber products used,  Thermal insulation allows for a
               cooler  internal   environment.   Air   conditioning   bills  are
               considerably lower.

     *    Cost Savings
          *    Significant  decreases in on-site construction time and effective
               use of labor due to simplicity of erection.

APPLICATIONS

     *    Residential Homes
     *    Schools
     *    High Rise Buildings
     *    Churches
     *    Condominiums
     *    Mining Shafts
     *    Hospitals
     *    Fences and Walls
     *    Vacation Lodges
     *    Medical Care Centers
     *    Community Buildings

     We believe our panel based  technology is one of the finest,  strongest and
most cost effective building technologies available.  Our panel based technology
is superior to other traditional building methods in terms of strength,  time to
completion  and  resistance  to the elements.  Our IBT panel  technology is also
versatile in its use and can be used to create unique  architectural  and design
elements.   The  results  are  buildings  that  look  great  and  meet  superior
construction standards.

     Historically,  IBT has  completed  projects in the United  States,  Central
America, the Caribbean, Asia, Europe and Africa.

OTHER PRODUCTS AND SERVICES OFFERED BY THE COMPANY

     Currently,  IBT  provides  Site  Planning,  Architectural  and  Engineering
Services,  Contractor Services,  Materials,  Equipment, training and Supervision
and is engaged in projects in China utilizing our IBT technology.

FHH SINO NEW ENERGIES CO., LTD.

     As  previously  reported in our  Current  Report on Form 8-K filed with the
Securities  and  Exchange  Commission  on June 2,  2010,  the  Company  signed a
non-binding  Letter  of  Intent  on May 25,  2010,  to  merge  with FHH Sino New
Energies Co., Ltd., a Chinese company ("FHH Sino"), located in Weihai,  Shandong
Province of China. FHH Sino is a petroleum storage company that offers petroleum
storage tanks and facilities for rental to the petroleum  importers/exporters is
Weihai, a coastal city in Shandong Province of Northern China.

                                       6
<PAGE>
     According  to  a  recent  appraisal  prepared  by  an  accounting  firm  in
accordance with China accounting  standards,  the Chinese company has net assets
worth RMB 370 million  (approximately  US $54,000,000)  and will generate annual
revenues of RMB 100 million (approximately US $14, 000,000) after its completion
of construction of Phase I and execution of rental  contracts  business in early
2011.

     FHH Sino is currently in  construction of its Phase I and has completed all
the foundation and infrastructure  for its 8 storage tanks. This  infrastructure
includes the supporting  facilities and pipeline connecting to the harbor, which
is just 600 meters away from the storage facilities.

     FHH Sino provides petroleum storage tanks for rental to petroleum companies
such as Sinochem  and  Sino-Petro,  as well as being  engaged in the business of
local fuel oil distribution.  FHH Sino has its Phase II planned and has received
official approval from the Chinese  authorities for additional  storage tanks of
450,000 m3 and expects to commence construction of Phase II in late 2011.

     The  Company  and FHH Sino  are  working  together  on the  related  merger
agreements  and  auditors  have been engaged to commence an audit of FHH Sino in
preparation for the merger.

     The  Letter  of  Intent  is  subject  to (i) the  execution  of a  mutually
acceptable  definitive  merger  or  exchange  agreements:  (ii)  there  being no
material adverse change in the financial condition, business or prospects of the
Company prior to closing; (iii) final investment committee approval;  (iv) local
government  and  regulatory  approvals;  (v)  extension  of existing  employment
contracts for the Company's management;  and (vi) and a guarantee of buy-back or
exchange of common  stock for  preferred  stock (not to exceed U.S.  $2,300,000)
currently held my the Company's officers or investors.

     Upon signing of the Letter of Intent,  FHH Sino made a U.S.  $230,000  good
faith deposit with the Company.

     Our  President,   Kenneth  Yeung,  has  been  working  diligently  on  this
transaction  and we hope to close this  transaction in the third quarter of this
year.  However, we can provide no assurance that this transaction will, in fact,
come to fruition, as it is dependent upon a number of factors that may not occur
or that we may not be able to control.

HOW TO CONTACT US

     The Company's  principal  executive  offices are located at 17800 Castleton
Street,  Suite 638, City of Industry,  California 91748. Our telephone number is
(626) 581-8500 and our facsimile number is (626) 626-7603.

COMPETITIVE BUSINESS CONDITIONS

     The Company  competes with many companies in the global markets and many of
our competitors are large, well funded companies who have  substantially  larger
staffs and resources than we have at the present time. Unlike the many companies
that  compete in the global  market  manufacturing  building  materials,  we are
unique. Few companies  manufacture our product or anything similar in nature. We
intend to compete  based on our unique  technology  and business and  government
contacts within China.

FOREIGN CURRENCY RISK

     The Company has subsidiaries  operating in the foreign arena and is exposed
to foreign  currency  fluctuations.  Currently,  the Company's  subsidiaries are
operating in China and Hong Kong.  The  Company's  exposure to foreign  currency
fluctuations  in Hong Kong is limited as the Hong Kong Dollar is pegged  against
the  U.S.  dollar.   However,   the  Company's   exposure  to  foreign  currency
fluctuations in China is greater as the Chinese RMB has a floating exchange rate
based on market supply and demand with reference to a basket of currencies.

                                       7
<PAGE>
RAW MATERIALS AND SUPPLIES

     China is the main supplier of the raw materials needed for our panels.  The
Company has contact with and access to numerous  suppliers of the raw  materials
needed to  manufacture  its  building  panels  and is not  dependent  on any one
supplier or limited group of suppliers.

DEPENDENCE ON ONE OR A FEW MAJOR CUSTOMERS

     The Company  believes  that the  diversity  of the products and services it
offers helps  alleviate  the  dependence on any one customer or limited group of
customers.  The Company's  offerings of services and products appeal to both the
retail and industrial customer base. Through the widespread use of the Company's
products and services, the Company will continue to increase its customer base.

EFFECT OF EXISTING OR PROBABLE GOVERNMENTAL REGULATIONS

     The Company's  common stock is registered  pursuant to Section 12(g) of the
Securities  Exchange Act of 1934 ("1934 Act"). As a result of such registration,
the Company is subject to  Regulation  14A of the "1934  Act,"  which  regulates
proxy  solicitations.  Section  14(a)  requires all  companies  with  securities
registered  pursuant  to  Section  12(g)  thereof  to comply  with the rules and
regulations  of the Commission  regarding  proxy  solicitations,  as outlined in
Regulation 14A. Matters submitted to stockholders of the Company at a special or
annual meeting thereof or pursuant to a written consent will require the Company
to provide its  stockholders  with the information  outlined in Schedules 14A or
14C of Regulation 14;  preliminary  copies of this information must be submitted
to the Commission at least 10 days prior to the date that  definitive  copies of
this information are forwarded to stockholders.

     The  Company  is also  required  to file  annual  reports  on Form 10-K and
quarterly  reports on Form 10-Q with the Commission on a regular basis, and will
be required to disclose  certain  events in a timely  manner,  (e.g.  changes in
corporate  control;  acquisitions  or  dispositions  of a significant  amount of
assets  other than in the  ordinary  course of business;  and  bankruptcy)  in a
Current Report on Form 8-K.

     WE WILL BE SUBJECT TO THE REQUIREMENTS OF SECTION 404 OF THE SARBANES-OXLEY
ACT. IF WE ARE UNABLE TO TIMELY  COMPLY WITH SECTION 404 OR IF THE COSTS RELATED
TO COMPLIANCE ARE  SIGNIFICANT,  OUR  PROFITABILITY,  STOCK PRICE AND RESULTS OF
OPERATIONS AND FINANCIAL CONDITION COULD BE MATERIALLY ADVERSELY AFFECTED.

     The Company is required to comply with the provisions of Section 404 of the
Sarbanes-Oxley  Act of  2002,  which  requires  that we  document  and  test our
internal  controls  and  certify  that we are  responsible  for  maintaining  an
adequate  system of internal  control  procedures for the 2008 fiscal year. This
section also requires that our  independent  registered  public  accounting firm
opine on those internal controls and management's  assessment of those controls.
We are currently  evaluating our existing controls against the standards adopted
by the Committee of Sponsoring  Organizations of the Treadway Commission (COSO).
During the course of our ongoing  evaluation  and  integration  of the  internal
controls of our business,  we may identify areas requiring  improvement,  and we
may have to design enhanced  processes and controls to address issues identified
through this review (see Item 9A, below for a discussion  our internal  controls
and procedures).

     Our subsidiaries  currently operating in China also have to comply with the
provisions of Section 404 of the  Sarbanes-Oxley  Act of 2002.  However,  due to
time  differences,  cultural  differences,  and  differences in common  business
practices, documentation and testing of our internal controls overseas will be a
longer and more difficult process.

     We believe that the  out-of-pocket  costs,  the  diversion of  management's
attention from running the day-to-day  operations and operational changes caused
by the need to comply with the requirement of Section 404 of the  Sarbanes-Oxley
Act could be significant.  If the time and costs associated with such compliance
exceed  our  current  expectations,  our  results of  operations  and the future
fillings of our Company could be materially adversely affected.

                                       8
<PAGE>
     Our subsidiaries currently operating in China are subject to inherent risks
associated with operations in a foreign arena. IBT and IBT Hong Kong are exposed
to risks of changes in  governmental  policies and building  codes.  There is no
guarantee  of  current  Management's  ability  to  be  notified  of  changes  in
governmental  policies  and  building  codes in a  timely  manner,  which  could
materially affect the Company.

     Aside from required  compliance with foreign  governmental  regulations and
rules,  federal and state securities  laws,  regulations and rules, and federal,
state and local tax laws, regulations and rules, the Company is not aware of any
other governmental  regulations now in existence or that may arise in the future
that would have an effect on the business of the Company.

DEPENDENCE ON KEY EMPLOYEES AND NEED FOR ADDITIONAL MANAGEMENT AND PERSONNEL

      The Company is heavily dependent on the ability of our President,  Kenneth
Yeung, who has contributed  essential technical and management experience to our
business.  The  Company  will be  dependent  upon  Mr.  Yeung  to  recruit  good
management for the Company.

      In the event of future growth in administration,  marketing, manufacturing
and customer support  functions,  the Company may have to increase the depth and
experience of its management team by adding new members.  The Company's  success
will depend to a large degree upon the active  participation of its key officers
and employees,  as well as the continued service of its key management personnel
and its ability to identify,  hire, and retain additional  qualified  personnel.
There  can be no  assurance  that  the  Company  will be able  to  recruit  such
qualified personnel to enable it to conduct its proposed business successfully.

INTELLECTUAL PROPERTY RIGHTS

     The Company  presently holds no intellectual  property rights.  The Company
intends  to seek  copyright  and  trademark  protection  of its trade  names and
products. The Company's success and ability to compete are dependent to a degree
on the Company's  name and product  recognition.  Accordingly,  the Company will
primarily  rely on  copyright,  trade  secret and  trademark  law to protect its
product and brand names of  products  or under  which the Company  conducts  its
business.  Effective trademark protection may not be available for the Company's
trademarks.

      The  Company's  competitors  or others may adopt  product or service names
similar to the Company's,  thereby impeding the Company's ability to build brand
identity and possibly leading to customer confusion.  The Company's inability to
adequately  protect its product,  brand, trade names and trademarks would have a
material  adverse  effect on the  Company's  business,  financial  condition and
operating results.  Despite any precautions the Company takes, a third party may
be able to copy or otherwise  obtain and use the  Company's  technology or other
proprietary  information without  authorization or to develop similar technology
independently.

      Policing  unauthorized  use of the Company's  products are made especially
difficult by the global nature of the Internet and the difficulty in controlling
the  ultimate  destination  or security  of products or other data.  The laws of
other countries may afford the Company little or no effective protection for the
Company's intellectual property.

EMPLOYEES

      As of March 30, 2011, we had one full time employee, Kenneth Yeung, who is
our President and Chief  Executive  Officer.  We believe that our relations with
our employee are good. Our employee is not  represented by a union or covered by
a collective bargaining agreement.

REPORTS TO SECURITY HOLDERS

      The public may view and obtain copies of the Company's  reports,  as filed
with the Securities and Exchange Commission,  at the SEC's Public Reference Room
at 100 F Street,  NE, Room 1580,  Washington,  D.C.  20549.  Information  on the
Public  Reference  Room is  available  by  calling  the  SEC at  1-800-SEC-0330.
Additionally,  copies of the Company's reports are available and can be accessed
and   downloaded   via   the   internet   on  the   SEC's   internet   site   at
http://www.sec.gov.

                                       9
<PAGE>
ITEM 1A. RISK FACTORS.

     We are a smaller  reporting  company  and are not  required  to provide the
information required by this item.

ITEM 1B. UNRESOLVED STAFF COMMENTS.

     Not applicable.

ITEM 2. PROPERTIES.

     The Company does not own any real estate.

     On February 20, 2009, the Company relocated its principal executive offices
to 17800 Castleton  Street,  Suite 638, City of Industry,  California 91748. The
new offices are being leased under a verbal  sublease  from Allied  Consultants,
Inc., a company owned by Nelson  Yeung,  the brother of our  President,  Kenneth
Yeung.  Kenneth Yeung has no financial or other interest in Allied  Consultants,
Inc. The sublease rental is $3,250 per month,  which covers access to and use of
office furniture and equipment owned by Allied Consultants, Inc. The sublease is
a month to month lease.

ITEM 3. LEGAL PROCEEDINGS.

      The  Company is not the subject of any pending  legal  proceedings  to the
knowledge of  management,  nor is there any presently  contemplated  against the
Company by any federal,  state,  or local  government  agency.  Further,  to the
knowledge  of  management,  no director or  executive  officer is a party to any
action in which his interest is adverse to the Company.

ITEM 4. (REMOVED AND RESERVED).

     Not applicable

                                     PART II

ITEM 5. MARKET FOR REGISTRANT'S  COMMON EQUITY,  RELATED STOCKHOLDER MATTERS AND
        ISSUER PURCHASES OF EQUITY SECURITIES.

     Until  February  23,  2011,  the  Company's  Common Stock was quoted on the
Over-the-Counter  Bulletin Board under the symbol "INBG.OB." For reasons unknown
to us, on February 23, 2011, the major market maker for our Common Stock stopped
quoting our Common  Stock,  and  stopped  quoting  stocks of numerous  other OTC
Bulletin  Board  companies  without  even having the courtesy of advising all of
these  companies  in advance. As a result of such market  maker's  actions,  our
Common Stock and the stocks of many other  companies,  were dropped from the OTC
Bulletin Board  quotation  system.  We are in the process of having a new market
maker  file a Form 211 on our behalf  with  FINRA so that our Common  Stock will
once again be quoted on the OTC  Bulletin  Board.  The market for the  Company's
Common Stock is limited,  volatile  and sporadic and the price of the  Company's
Common  Stock could be subject to wide  fluctuations  in  response to  quarterly
variations in operating results,  news announcements,  trading volume,  sales of
Common Stock by officers,  directors and principal  shareholders of the Company,
general  market  trends,  changes in the  supply  and  demand for the  Company's
shares, and other factors. The following table sets forth the high and low sales
prices for each quarter  relating to the Company's Common Stock for the last two
fiscal years.  These  quotations  reflect  inter-dealer  prices  without  retail
mark-up, markdown, or commissions, and may not reflect actual transactions.

     Fiscal 2010                         High                Low
     -----------                         ----                ---
     First Quarter (1)                 $.0001              $.0001
     Second Quarter (1)                $.0007              $.0001
     Third Quarter (1)                 $.0005              $.0001
     Fourth Quarter (1)                $.0003              $.0001

     Fiscal 2009                         High                Low
     -----------                         ----                ---
     First Quarter (2)                 $0.0008             $0.0001
     Second Quarter (1)                $0.0004             $0.0001
     Third Quarter (1)                 $0.0002             $0.0001
     Fourth Quarter (1)                $0.0002             $0.0001

                                       10
<PAGE>
----------
(1)  This  represents  the  closing  bid  information  for the  stock on the OTC
     Bulletin Board. The bid and ask quotations represent prices between dealers
     and do not  include  retail  markup,  markdown or  commission.  They do not
     represent  actual  transactions  and  have  not  been  adjusted  for  stock
     dividends or splits.
(2)  This represents the closing price for the stock on the OTC Bulletin Board.

     All of the  above  information  was  listed  as  reported  by the  National
Association of Securities Dealers Composite feed or other qualified inter-dealer
quotation medium.

     Our common stock is  considered  a "penny  stock." The  application  of the
"penny stock" rules to our common stock could limit the trading and liquidity of
the common  stock,  adversely  affect the market  price of our common  stock and
increase your transaction costs to sell those shares. The Commission has adopted
regulations  which  generally  define a "penny stock" to be any equity  security
that has a market price (as defined) of less than $5.00 per share or an exercise
price of less than $5.00 per share, subject to certain exceptions.

     Shareholders  should be aware that,  according to SEC Release No.  34-29093
dated April 17,  1991,  the market for penny stocks has suffered in recent years
from  patterns  of fraud and abuse.  Such  patterns  include  (1) control of the
market for the security by one or a few broker-dealers that are often related to
the promoter or issuer; (2) manipulation of prices through prearranged  matching
of purchases and sales and false and misleading press releases;  (3) boiler room
practices   involving   high-pressure   sales  tactics  and  unrealistic   price
projections  by  inexperienced  sales  persons;  (4) excessive  and  undisclosed
bid-ask  differential  and  markups  by  selling  broker  dealers;  and  (5) the
wholesale dumping of the same securities by promoters and  broker-dealers  after
prices  have been  manipulated  to a desired  level,  along  with the  resulting
inevitable  collapse of those prices and with consequent  investor  losses.  The
occurrence of these  patterns or practices  could increase the volatility of our
share price.

     Our  management is aware of the abuses that have occurred  historically  in
the penny stock market.

HOLDERS

     As of March 28, 2011, there were  approximately  359 shareholders of record
of the Company's Common Stock, 96 shareholders of record of the Company's Series
A Preferred Stock, one shareholder of record of the Company's Series C Preferred
Stock, six shareholders of record of the Company's Series D Preferred Stock, two
shareholders  of  record  of the  Company's  Series E  Preferred  Stock  and one
shareholder of record of the Company's Series F Preferred Stock.

DIVIDENDS

     The Company has not declared any cash  dividends with respect to its common
stock or preferred stock during the last two fiscal years and does not intend to
declare dividends in the foreseeable future. There are no material  restrictions
limiting or that are likely to limit the  Company's  ability to pay dividends on
its outstanding securities.

RECENT ISSUANCE OF UNREGISTERED SECURITIES

     On January 10, 2011, the Company issued 50,000 shares of Series D Preferred
Stock to Allied  Consultants,  Inc.  401 (k) Plan  Trust for $1 per share with a
total cash payment of $50,000.

     During  2010,  the  Company  issued  the  following  common  stock  without
registration  under the Securities  Act of 1933, as amended,  that have not been
previously included in a Quarterly Report on Form 10-Q or in a Current Report on
Form 8-K:

                                       11
<PAGE>
                      Number of           Aggregate             Nature of
Date of Issue       Shares Issued        Sales Price           Transaction
-------------       -------------        -----------           -----------
10/26/2010           84,533,333            $12,680        Conversion of Series D
                                                          Preferred Stock
11/17/2010          130,098,246            $18,538        Conversion of Debt
11/19/2010            2,320,966            $   337        Conversion of Debt
11/19/2010            2,348,483            $   326        Conversion of Debt
11/19/2010            7,687,719            $ 1,095        Conversion of Debt
11/23/2010          115,684,615            $15,000        Conversion of Series D
                                                          Preferred Stock

     The Company did not utilize or engage a principal underwriter in connection
with any of the above  securities  transactions.  The above securities were only
offered and sold to  "accredited  investors" as that term is defined in Rule 501
of  Regulation  D,  promulgated  under the  Securities  Act of 1933, as amended.
Management believes the above shares of common stock were issued pursuant to the
exemption from registration under Section 4(2) of the Securities Act of 1933, as
amended.

ISSUER PURCHASES OF EQUITY SECURITIES

     None.

ITEM 6. SELECTED FINANCIAL DATA.

     Not applicable.

ITEM 7. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATION.

CAUTIONARY FORWARD - LOOKING STATEMENT

     The following  discussion  should be read in conjunction with our financial
statements and related notes.

     Certain matters  discussed  herein may contain  forward-looking  statements
that are  subject  to risks and  uncertainties.  Such  risks  and  uncertainties
include, but are not limited to, the following:

     *    the volatile and competitive nature of our industry,
     *    the uncertainties surrounding the rapidly evolving markets in which we
          compete,
     *    the uncertainties surrounding technological change of the industry,
     *    our dependence on our intellectual property rights,
     *    the success of marketing efforts by third parties,
     *    the changing demands of customers and
     *    the arrangements with present and future customers and third parties.

     Should one or more of these risks or  uncertainties  materialize  or should
any of the underlying assumptions prove incorrect, actual results of current and
future  operations  may vary  materially  from those  anticipated.  See also the
disclosures under "Cautionary Statement" following the Table of Contents in this
Annual Report.

GENERAL

        Prior to December 1, 2004,  the Company was known as Ten Stix,  Inc. and
changed  its name to  MotorSports  Emporium,  Inc. on December 1, 2004 under the
laws of the State of Nevada to  engage in the motor  sports  industry  targeting
enthusiasts  participating  in  die  cast  collecting,  automobile  restoration,
purchase of  high-performance  accessories,  motor sports related  collectibles,
driver's  apparel,  race venues and product  licensing.  On July 12,  2007,  the
Company  reported  in a  Definitive  Schedule  14C that the Company was going to
change its name to International  Building  Technologies  Group,  Inc. to better
reflect  its change of  business  from motor  sports  related  to  building  and

                                       12
<PAGE>
construction  of lightweight  panels.  On July 17, 2007 the Company  amended its
articles  of  incorporation  to  change  its  name  to  International   Building
Technologies Group, Inc. effective on August 6, 2007.  According to Statement of
Financial  Accounting  Standards No. 7, "Accounting and Reporting by Development
Stage Enterprises," the Company has reentered the development stage. The Company
devotes most of its efforts to  establishing  a new business,  raising  capital,
establishing sources of supply, acquiring property,  plant, equipment, and other
operating  assets.  The  Company's  shares of common stock are quoted on the OTC
Bulletin Board under the symbol "INBG.OB."

     Our  principal  executive  offices are located at 17800  Castleton  Street,
Suite 638, City of Industry,  CA 91748.  Our telephone  number is (626) 581-8500
and our  facsimile  number is (626)  626-7603.  More  information  regarding our
products and the Company is available on our website at www.ibtgi.com.

EXECUTIVE OVERVIEW

     The Company is in the business of  manufacturing,  marketing  and providing
equipment and materials to the building and construction industries. The Company
is dedicated to providing unique and sustainable  construction  methods that can
be used in developing and developed countries around the world.

     The Company is a developer and provider of a superior  panel based building
technology.  Our panel  technology  is  superior  to many  traditional  building
methods, offers greater strength and resistance to winds and hurricanes, as well
as  providing a  sustainable  building  solution  that does not utilize  timber,
provides high insulation values and is resistant to bugs, mold and rot.

     Our panel technology allows for the rapid,  cost effective  construction of
residential,  commercial,  and high-rise  buildings utilizing materials that are
superior in strength and appearance,  economical and  eco-friendly.  The Company
provides  customers  with  architectural  design,  panel  supply,   installation
supervision, engineering, training and technical support.

     Drawing on decades of experience in the construction  industry in China and
other  countries in the Far East, the Company is seeking to develop new business
in China,  as well as establish a  manufacturing  facility for its equipment and
materials.  We plan to  manufacture  equipment for our own projects,  as well as
exporting equipment and materials to customers throughout the world.

     The Company has also been  working  with  investors  to establish a Company
operated panel  production  factory in China's Sichuan  Province.  This plan has
been  received  with great  interest by the  Sichuan  Construction  Bureau,  the
government authority in governing major construction  projects in rebuilding the
earthquake region in Sichuan Province.

MATERIAL RECENT DEVELOPMENTS

RE-ENTERING DEVELOPMENT STAGE

        On April 1, 2007, the Company  re-entered  the  development  stage.  The
Company  has changed the focus of its  business  to  building  and  constructing
lightweight  panels. The Company has devoted most of its efforts to establishing
this new business,  raising capital,  establishing sources of supply,  acquiring
property, plant, equipment, and other operating assets.

RESULTS OF  OPERATIONS - THE YEAR ENDED  DECEMBER 31, 2010  COMPARED TO THE YEAR
ENDED DECEMBER 31, 2009

     Since  discontinuing  the prior business and  re-entering  the  development
stage as of April 1, 2007 the Company's results of operations has changed. There
are no revenues during the current development stage as we are in the process of
starting our manufacturing process.

     For the year ended  December  31,  2010,  Operating  Expenses  for  current
operations  totaled  $503,480 is more than the year ended  December  31,  2009's
Operating  Expenses of $480,513.  The increase of $22,967 in Operating  Expenses

                                       13
<PAGE>
between  years  ended 2010 and 2009 was mostly  attributed  to the  increase  in
salary and travel expenses.

     One of the  significant  changes in our results of  operations  is interest
Expense which was $87,302 for the year ended  December 31, 2010 and for the year
ended December 31, 2009, Interest Expense was $1,402,005. The $1,314,703 drop in
Interest Expense was due to the change in beneficial  conversion  feature of the
notes. There is also a significant change in the fair value of derivative. As of
December 31, 2010,  change in fair value of derivative  resulting in an increase
from $32,133 to  $1,303,727.  This  increase in the fair value of  derivative is
resulted from the  liability of  derivative  that was less than that at December
31, 2009. The change in the fair value of derivative is resulted from the common
stock  equivalents  of the Company on all  convertible  debentures and preferred
stock exceeded the total common stock available for issuance by approximately by
26,373,626,374  shares.  The Company's Chief Executive  Officer,  Kenneth Yeung,
hold  3,000,000  shares of Series C Preferred  Stock that are  convertible  into
26,373,626,374  common  shares of the Company.  Unless and until there is enough
authorized  common stock  available to cover all common stock  equivalents,  Mr.
Yeung will not convert any of his preferred  shares.  Furthermore,  the stock is
only convertible upon  management's  discretion.  Management  currently does not
intend on  converting  such stock.  Also,  warrant  options are not  included in
common  stock  equivalents  since the  exercise  price of $0.25 for the  warrant
exceeds  the fair value of common  stock of $0.0004  per share on  December  31,
2010. The remaining  common stock  equivalent of  2,030,886,444  shares has been
accounted  for as a derivative  liability.  The fair value of the  derivative of
$802,102 was determined by utilizing the Black-Scholes valuation model.

LIQUIDITY AND CAPITAL RESOURCES

     Our future success and viability is primarily dependent upon our ability to
increase operating cash flows and develop new business opportunities.

     During the next 12 months, the Company's foreseeable cash requirements will
relate to continual  development of the operations of its business,  maintaining
its good  standing  and making the  requisite  filings with the  Securities  and
Exchange  Commission,  and the payment of expenses  associated with reviewing or
investigating any potential business ventures.

     Additionally,  we may  experience a cash shortfall and be required to raise
additional  capital. In the year ended December 31, 2010 we relied on funds from
the investor deposit and the issuance of preferred  stock.  Management may raise
additional  capital  through future public or private  offerings of our stock or
through loans from private investors, although there can be no assurance that we
will be able to  obtain  such  financing.  Our  failure  to do so  could  have a
material and adverse affect upon us and our shareholders.

     The Company has entered into  negotiation  with a private  owned company in
China for a possible  merger and joint  venture and will  announce the terms and
condition of such merger or joint venture if the  transaction  proceeds and when
there is a signed LOI, MOU or a binding agreement.

     The chart  below  summarizes  our debt  (see Note 4 - Notes  Payable & Debt
Discounts  of  the  Consolidated   Financial  Statements  -  Notes  Payable  and
Beneficial Conversions):

Terms                                                                     Amount
-----                                                                     ------
SHORT TERM NOTES PAYABLE TO SHAREHOLDERS:
     12% Interest;  principal of $6,597; convertible to common stock
     based  on  75%  of  average  price;  due  on  9/3/2009,  net of
     unamortized discount related to the debt discount of $0            $  6,597
     12% Interest;  principal of $293;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0               293
     12% Interest; principal of $11,000; convertible to common stock
     based  on 75%  of  average  price;  due  on  10/9/2009,  net of
     unamortized discount related to the debt discount of $0              11,000

                                 14
<PAGE>
     12% Interest; principal of $31,925; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      31,925
     12% Interest; principal of $10,269; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      10,269
     12% Interest; principal of $12,500; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              12,500
     12% Interest; principal of $15,000; convertible to common stock
     based  on  75%  of  average  price;  due  on  8/1/2009,  net of
     unamortized discount related to the debt discount of $0              15,000
     12%  Interest;  principal of $17;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0                  17
     12%  Interest;  principal  of $5;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0                 5
     12% Interest;  principal of $231;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0                 231
     12% Interest;  principal of $9,458; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0             9,458
     12% Interest; principal of $37,133; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      37,133
     12% Interest;  principal of $5,000; convertible to common stock
     based  on 75% of  average  price;  due  on  10/28/2009,  net of
     unamortized discount related to the debt discount of $0               5,000
     12% Interest; principal of $10,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discount  related to the debt  discount  of $3,271      10,000
     12% Interest; principal of $13,000; convertible to common stock
     based  on  75%  of  average  price;  due  on  8/1/2009,  net of
     unamortized discount related to the debt discount of $0              13,000
     12% Interest;  principal of $7,209; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0             7,209
     12% Interest; principal of $23,847; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      23,847
     12% Interest; principal of $20,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              20,000
     12% Interest; principal of $25,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              25,000
     12% Interest; principal of $70,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              70,000
     12% Interest; principal of $36,867; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      36,867

                                 15
<PAGE>
     12% Interest; principal of $73,975; convertible to common stock
     based  on  75%  of  average  price;  due  on  7/1/2009,  net of
     unamortized discount related to the debt discount of $0              73,975
     12% Interest;  principal of $1,112; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0             1,112
     12% Interest; principal of $10,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              10,000
     12% Interest; principal of $15,000; convertible to common stock
     based  on 75% of  average  price;  due  on  10/29/2009,  net of
     unamortized discount related to the debt discount of $0              15,000
     12% Interest; principal of $50,240; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              50,242
                                                                        --------
TOTAL SHORT TERM NOTES PAYABLE TO SHAREHOLDERS                          $495,679
                                                                        ========
SHORT TERM NOTES PAYABLE:
     12% Interest; principal of $50,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              50,000
     12% Interest; principal of $50,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              50,000
     12% Interest; principal of $15,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              15,000
     12% Interest; principal of $10,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              10,000
     12% Interest; principal of $20,500; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              20,500
                                                                        --------
TOTAL SHORT TERM NOTES PAYABLE                                          $145,500
                                                                        ========

YEAR ENDED DECEMBER 31, 2010

     As of December 31, 2010,  the Company's  current assets were $2,616 and its
current  liabilities were $2,381,687,  resulting in a working capital deficit of
$2,377,071. As of December 31, 2010, current assets were comprised of (i) $1,605
in cash; (ii) $1,011 in other current assets.

     As of December 31, 2010, current liabilities were comprised of (i) $802,102
in derivative  liability;  (ii) $495,679 in notes  payable to  stockholders  and
$145,500  in notes  payable;  (ii)  $356,024  in  accounts  payable  and accrued
expenses and $362,382 of other amounts due to shareholders.

     As of December 31,  2010,  the  Company's  total assets were $4,616 and its
total  liabilities  were  $2,381,687,   with  a  net  stockholder's  deficit  of
$2,377,071.

     For the year ended  December  31,  2010,  net cash flows used in  operating
activities were $289,041 compared to net cash flows used in operating activities
of  $192,918,  before  the  net  cash  used  in  and  provided  by  discontinued
operations, for the year ended December 31, 2009. The increase of $96,123 during
year ended  December 31, 2010 were  primarily due to the change in fair value of
derivative liability and interest expense associated with beneficial  conversion
feature.

     For the year ended  December 31, 2010 and December 31, 2009, net cash flows
used in investing activities were $0 and $80,750 respectively.

                                 16
<PAGE>
     For the year ended  December 31, 2010, net cash flows provided by financing
activities  was  $281,000  compared  to net cash  flows  provided  by  financing
activities of $123,501 for the year ended December 31, 2009.  Cash inflow for in
2010 consisted of the investor  deposit of $220,000 and sale of preferred  stock
while cash inflows in 2009 consisted of the sale of preferred stock.

     Our financial  statements have been prepared assuming that we will continue
as a going concern and, accordingly,  do not include adjustments relating to the
recoverability and realization of assets and classifications of liabilities that
might be necessary should we be unable to continue our operations.

     As of the date of this Annual Report, the Company has generated no revenues
from  operations  since it  entered  the  development  stage  on April 1,  2007.
Therefore,  the Company's  auditors have expressed  substantial  doubt about the
Company's  ability to continue as a going concern.  Management  believes that it
can maintain its status as a going  concern  based on its ability to raise funds
pursuant  to future  public and private  offerings  and to obtain  advances  and
minimize operating expenses by not duplicating or incurring needless expenses.

OFF-BALANCE SHEET ARRANGEMENTS

     As of the  date of this  Annual  Report,  the  Company  does  not  have any
off-balance  sheet  arrangements  that have or are  reasonably  likely to have a
current  or future  effect on the  Company's  financial  condition,  changes  in
financial  condition,  revenues or expenses,  results of operations,  liquidity,
capital  expenditures or capital  resources that are material to investors.  The
term "off-balance sheet arrangement" generally means any transaction,  agreement
or other  contractual  arrangement  to which an entity  unconsolidated  with the
Company is a party, under which the Company has (i) any obligation arising under
a guarantee,  contract,  derivative  instrument or variable interest;  or (ii) a
retained or contingent  interest in assets transferred to such entity or similar
arrangement  that serves as credit,  liquidity  or market risk  support for such
assets.

FUTURE COMMITMENTS

     As of the  date of this  Annual  Report,  the  Company  does  not  have any
material  commitments  nor  does  management  anticipate  any  further  material
commitments within the next twelve months.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK.

     Not applicable.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

     Our financial  statements and supplementary  data may be found beginning at
page F-1.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURE.

     Not applicable.

ITEM 9A. CONTROLS AND PROCEDURES.

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

     We conducted an evaluation under the supervision and with the participation
of our management,  including  Kenneth Yeung,  our Chief  Executive  Officer and
Chief Financial Officer, of the effectiveness of the design and operation of our
disclosure   controls  and  procedures.   The  term  "disclosure   controls  and
procedures,"  as defined in Rules  13a-15(e) and 15d-15(e)  under the Securities
and Exchange Act of 1934, as amended  ("Exchange Act"), means controls and other
procedures of a company that are designed to ensure that information required to
be  disclosed  by the  company  in the  reports  it files or  submits  under the
Exchange Act is recorded,  processed,  summarized and reported,  within the time
periods specified in the Securities and Exchange  Commission's  rules and forms.
Disclosure controls and procedures also include,  without  limitation,  controls

                                       17
<PAGE>
and procedures designed to ensure that information required to be disclosed by a
company  in the  reports  that it files or  submits  under the  Exchange  Act is
accumulated  and  communicated  to  the  company's  management,   including  its
principal  executive and principal  financial  officers,  or persons  performing
similar functions, as appropriate,  to allow timely decisions regarding required
disclosure.  Based on this  evaluation,  our Chief  Executive  Officer and Chief
Financial  Officer  concluded  as of  December  31,  2010,  that our  disclosure
controls and procedures have been improved and were effective as of December 31,
2010.

MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

     Our management is responsible for  establishing  and  maintaining  adequate
internal  control over  financial  reporting as defined in Rules  13a-15(f)  and
15d-15(f) under the Exchange Act. Our internal control over financial  reporting
is  designed  to provide  reasonable  assurance  regarding  the  reliability  of
financial  reporting and the  preparation  of financial  statements for external
purposes in  accordance  with  generally  accepted  accounting  principles.  Our
internal control over financial reporting includes those policies and procedures
that:

     1.   pertain  to the  maintenance  of  records  that in  reasonable  detail
          accurately and fairly reflect the transactions and dispositions of our
          assets;

     2.   provide  reasonable   assurance  that  transactions  are  recorded  as
          necessary to permit preparation of financial  statements in accordance
          with U.S. GAAP, and that our receipts and  expenditures are being made
          only in  accordance  with  the  authorization  of our  management  and
          directors; and

     3.   provide reasonable  assurance regarding prevention or timely detection
          of  unauthorized  acquisition,  use or  disposition of our assets that
          could have a material effect on the financial statements.

     Because  of its  inherent  limitations,  internal  control  over  financial
reporting  may not prevent or detect  misstatements.  Also,  projections  of any
evaluation  of  effectiveness  to future  periods  are  subject to the risk that
controls may become  inadequate  because of changes in  conditions,  or that the
degree of compliance with the policies or procedures may deteriorate.

     Management   assessed  the  effectiveness  of  our  internal  control  over
financial  reporting  as of  December  31,  2010.  In  making  this  assessment,
management  used  the  framework  set  forth  in the  report  entitled  Internal
Control--Integrated   Framework   issued   by  the   Committee   of   Sponsoring
Organizations of the Treadway Commission, or COSO. The COSO framework summarizes
each of the components of a company's internal control system, including (i) the
control  environment,  (ii) risk  assessment,  (iii)  control  activities,  (iv)
information and communication,  and (v) monitoring.  This annual report does not
include an attestation report of our registered public accounting firm regarding
internal control over financial  reporting.  Management's report was not subject
to attestation by our registered  public  accounting  firm pursuant to temporary
rules of the Securities and Exchange  Commission that permits us to provide only
management's report in this annual report.

IDENTIFIED MATERIAL WEAKNESSES AND SIGNIFICANT DEFICIENCIES

     A material  weakness is a control  deficiency,  or  combination  of control
deficiencies,  that  results  in more than a remote  likelihood  that a material
misstatement  of the  financial  statements  will not be  prevented or detected.
Management  identified the following  internal  control  deficiency which we had
assessed  as a  material  weakness  as of Dec.  31,  2009  and 2008  during  its
assessment of our internal control over financial reporting as follows:

     1.   We did not have adequate  segregation  of duties over certain areas of
          our financial reporting process.

     The internal  control  deficiency  identified above will only be completely
corrected if the company  expands and has the capacity to  adequately  segregate
the duties to mitigate risk in financial reporting. Expansion will depend mostly
on the ability of management to begin  operations and generate  enough income to
warrant growth in personnel.

                                       18
<PAGE>
     We did not have  effective  comprehensive  entity-level  internal  controls
specific to the structure of our board of directors and organization of critical
committees.  Due to our  expected  expansion,  as  disclosed  in this Form 10-K,
without  correcting this  significant  deficiency and ensuring that our board of
directors has the proper oversight and committees are properly established,  the
control environment in subsequent years may not be effective.

     We had engaged a regionally-recognized independent consulting firm assisted
management with its assessment of the effectiveness of our internal control over
financial  reporting,   including  scope  determination,   planning,   staffing,
documentation, testing, remediation and retesting and overall program management
of the assessment project. In conclusion,  our Chief Executive Officer and Chief
Financial Officer surmised that the Company has improved the effective  internal
control over financial reporting as of December 31, 2009.

MANAGEMENT'S REMEDIATION INITIATIVES

     We are in the further  process of evaluating  our material and  significant
deficiencies.  We have  already  begun to  remediate  many of the  deficiencies.
However, others will require additional people, including adding to our board of
directors, which will take longer to remediate.

     In an effort to remediate  the  identified  material  weaknesses  and other
deficiencies and enhance our internal  controls,  we have initiated,  or plan to
initiate, the following series of measures:

     1.   Identify  and  retain  one or two  new  directors  for  our  board  of
          directors  including a member who is  appropriately  credentialed as a
          financial expert with a goal of having sufficient independent board of
          directors oversight;

     2.   Ensure  all entity  level  controls  are  applied at all levels of the
          organization and are scalable for acquisition or merge targets;

     3.   Establish   comprehensive   formal  general  accounting  policies  and
          procedures  and  require  directors  or  employees  to sign  off  such
          policies and procedures as documentation of their understanding of and
          compliance with company policies;

     4.   Make  all  directors  or  employees  subject  to our  Code  of  Ethics
          (including  those  employees in  acquisition  targets) and require all
          employees  and directors to sign our Code of Ethics on an annual basis
          and retain the related documentation; and,

     5.   Implement better segregation of duties given the size of our company.

     We believe that the above five initiatives have been at least partially, if
not fully, implemented by the December 31, 2010.

CONCLUSION

     The above identified  improvement,  material  weaknesses and deficiency did
not result in  material  audit  adjustments  to our 2009  financial  statements.
However, it is reasonably possible that, if not re-mediated,  one or more of the
identified   material   weaknesses  noted  above  could  result  in  a  material
misstatement  in our  reported  financial  statements  that  might  result  in a
material misstatement in a future annual or interim period.

     In light of the identified material weaknesses,  management,  performed (1)
significant  additional  substantive  review of those areas described above, and
(2)  performed  additional  analyses,  including  but not  limited to a detailed
balance  sheet and  statement  of  operations  analytical  review that  compared
changes  from  the  prior  period's   financial   statements  and  analyzed  all
significant  differences.  These  procedures were completed so management  could
gain assurance that the financial statements and schedules included in this Form
10-K fairly present in all material respects the Company's  financial  position,
results of operations and cash flows for the periods presented.

                                       19
<PAGE>
     The changes  noted  above,  are the only changes  during our most  recently
completed fiscal quarter that have materially  affected or are reasonably likely
to materially affect, our internal control over financial reporting,  as defined
in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.

     This Annual Report does not include an attestation  report of the Company's
registered  public  accounting  firm regarding  internal  control over financial
reporting.  Management's  report was not subject to attestation by the Company's
registered  public accounting firm pursuant to temporary rules of the Securities
and Exchange  Commission  that permit the Company to provide  only  management's
report in this Annual Report.

ITEM 9B. OTHER INFORMATION.

     Not applicable.

                                    PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

     Our  executive  officers are elected by the board of directors and serve at
the discretion of the board, subject to employment and/or consulting  agreements
described in Item 11, below.  All of the current  directors serve until the next
annual  shareholders'  meeting or until their  successors have been duly elected
and qualified.  The following table sets forth certain information regarding our
current directors and executive officers:

IDENTITY OF DIRECTORS AND EXECUTIVE OFFICERS AS OF MARCH 28, 2011

<TABLE>
<CAPTION>
    Name             Director Since     Age                     Position
    ----             --------------     ---                     --------
<S>                  <C>                <C>    <C>
Kenneth Yeung*       April 13, 2007      55     President, Chief Executive Officer, Chief
                                                Financial Officer, Treasurer and Director
Peter Chin**         May 21, 2007        63     Secretary and Director
</TABLE>

----------
*    On March 14, 2007,  Mr. Yeung was elected to the office of President of the
     Company. On April 16, 2007, Mr. Yeung was elected to the additional offices
     of Chief Financial Officer and Treasurer.
**   On May 21, 2007, Mr. Chin was elected to the office of Corporate Secretary.
***  All Company  officers serve at the pleasure of the Board of Directors.  All
     current members of the Board of Directors will serve as such until the next
     annual meeting of stockholders or until their successors are duly elected.

DIRECTORS

     We believe  that our board of directors  should be composed of  individuals
with  sophistication  and experience in many  substantive  areas that impact our
business. We believe that experience,  qualifications or skills in the following
areas are important:  (i) organizational  leadership and vision; (ii) strategic,
financial  and  operational   planning;   (iii)  corporate   restructuring   and
performance  enhancement;  (iv) corporate finance; and (v) experience as a board
member of other  corporations.  These  areas  are in  addition  to the  personal
qualifications  described in this  section.  We believe  that our current  board
members possess the professional and personal qualifications necessary for board
service. The principal occupation and business experience, for at least the past
five years, of our current directors are as follows:

       KENNETH YEUNG. Mr. Yeung is currently the Chief Executive Officer of ia&d
Consultants,  Inc.,  a Los Angeles  based  consulting  firm engaged in planning,
architectural  design,  engineering and business consulting.  As the CEO of ia&d
consultants,  Inc.,  Mr.  Yeung leads that  company by  developing  business and
providing services such as planning, architectural design and engineering to its
clients worldwide and particularly in China. His company has completed  numerous
projects including commercial and residential developments,  hotels and resorts,
schools and recreational  facility development.  Currently,  Mr. Yeung's company
has offices in three major  cities in China.  Mr.  Yeung  received a Bachelor of
Arts and Sciences from the University of Hawaii.  From the mid-1990s,  Mr. Yeung

                                       20
<PAGE>
has held senior executive positions with companies engaged in civil engineering,
building material manufacturing, planning, architecture and design.

     PETER CHIN.  Mr. Chin was born in Shanghai,  China and raised in Hong Kong.
Mr. Chin studied  abroad in both Sydney,  Australia and the United  States.  Mr.
Chin has over 20 years of  experience  in the  financial  markets,  focusing  on
corporate finance,  while advising companies in China and the United States. Mr.
Chin served on the board of directors of Golden Arrow Group of Companies, USA, a
hotel and land management company in China.  Additionally,  Mr. Chin also serves
as Chief  Executive  Officer and  Director  of  Disability  Access  Corporation.
Disability  Access  Corporation's  wholly-owned  subsidiary,  Disability  Access
Consultants,  Inc.,  creates a system to  facilitate  and expedite the processes
related to inspections  based on the regulatory  standards for the American with
Disabilities  Act. Mr. Chin  consults with various  publicly  traded and private
held companies on executive and financial decisions.

DIRECTORSHIPS

     No  Director  of the  Company  or  person  nominated  or chosen to become a
Director holds any other  directorship in any company with a class of securities
registered pursuant to Section 12 of the 1934 Act or subject to the requirements
of Section  15(d) of such Act or any other  company  registered as an investment
company under the  Investment  Company Act of 1940.  Currently,  Peter Chin, our
Secretary and Director,  also serves as Chief Executive  Officer and Director of
Disability Access Corporation ("DBYC.PK").

SIGNIFICANT EMPLOYEES

     No other significant employees exist.

FAMILY RELATIONSHIPS

     There are no family relationships  between any officer,  director or person
who will be nominated to serve on our Board of Directors.

COMPENSATION OF DIRECTORS

     During  2010,  we  issued  50,000  shares of  Series D  Preferred  Stock to
Director  Peter Chin as  compensation.  During 2009,  we issued 50,000 shares of
Series D Preferred to Director Peter Chin as  compensation.  During 2008, we did
not compensate our Directors for serving on our Board of Directors.

     There are no arrangements or understandings between any of the directors or
executive  officers,  or any other person or person  pursuant to which they were
selected as directors and/or officers.

INVOLVEMENT IN CERTAIN LEGAL PROCEEDINGS

     During the past ten years, no present director, executive officer or person
nominated to become a director or an executive officer of the Company:

     1.   had a  petition  under  the  federal  bankruptcy  laws  or  any  state
          insolvency  law filed by or against,  or a receiver,  fiscal  agent or
          similar  officer  appointed by a court for the business or property of
          such person,  or any  partnership in which he was a general partner at
          or within two years before the time of such filing, or any corporation
          or business  association  of which he was an  executive  officer at or
          within two years before the time of such filing;

     2.   was  convicted  in a  criminal  proceeding  or  subject  to a  pending
          criminal  proceeding  (excluding  traffic  violations  and other minor
          offenses);

     3.   was  subject  to any  order,  judgment  or  decree,  not  subsequently
          reversed,   suspended   or   vacated,   of  any  court  of   competent
          jurisdiction,   permanently  or  temporarily  enjoining  him  from  or
          otherwise limiting his involvement in any of the following activities:

                                       21
<PAGE>
          (i)  Acting  as a futures  commission  merchant,  introducing  broker,
               commodity trading advisor, commodity pool operator, floor broker,
               leverage transaction merchant,  any other person regulated by the
               Commodity Futures Trading Commission,  or an associated person of
               any of the foregoing,  or as an investment adviser,  underwriter,
               broker or  dealer  in  securities,  or as an  affiliated  person,
               director or employee of any investment company, bank, savings and
               loan  association  or  insurance  company,   or  engaging  in  or
               continuing  any  conduct  or  practice  in  connection  with such
               activity;
          (ii) Engaging in any type of business practice; or
          (iii)Engaging in any activity in connection  with the purchase or sale
               of any security or commodity or in connection  with any violation
               of federal or state securities laws or federal  commodities laws;
               or

     4.   was the  subject of any order,  judgment or decree,  not  subsequently
          reversed,  suspended  or  vacated,  of an federal  or state  authority
          barring,  suspending  or otherwise  limiting for more than 60 days the
          right of such person to engage in any activity  described in paragraph
          (3) (i),  above,  or to be associated with persons engaged in any such
          activity; or

     5.   was found by a court of competent  jurisdiction  (in a civil  action),
          the  Securities  and  Exchange  Commission  or the  Commodity  Futures
          Trading  Commission to have violated a federal or state  securities or
          commodities  law, and for which the  judgment  has not been  reversed,
          suspended or vacated.

AUDIT COMMITTEE FINANCIAL EXPERT AND IDENTIFICATION OF AUDIT COMMITTEE

     Our board of directors acts as our audit committee.  No member of our board
of directors is an "audit committee  financial  expert," as that term is defined
in Item 401(e) of Regulation S-K  promulgated  under the Securities Act of 1933,
as amended.  Our board of directors  concluded that the benefits of retaining an
individual  who  qualifies as an "audit  committee  financial  expert"  would be
outweighed by the costs of retaining such a person.

SECTION 16(a) BENEFICIAL OWNERSHIP COMPLIANCE

     Section 16(a) of the Securities Exchange Act of 1934 requires the Company's
executive  officers,  directors and persons who own more than ten percent of the
Company's Common Stock, to file initial reports of beneficial  ownership on Form
3,  changes  in  beneficial  ownership  on  Form 4 and an  annual  statement  of
beneficial ownership on Form 5, with the SEC. Such executive officers, directors
and greater than ten percent  shareholders  are required by SEC rules to furnish
the Company with copies of all such forms that they have filed.

     Based  on our  review  of the  copies  of such  forms  filed  with  the SEC
electronically,  received  by  the  Company  and  representations  from  certain
reporting  persons,  the  Company  believes  that  during the fiscal  year ended
December 31, 2010,  all the  officers,  directors  and more than 10%  beneficial
owners have complied with the above described filing requirements.

CODE OF ETHICS

     The Company has adopted a Code of Ethics  applicable  to its  employees and
officers,   including  its  principal  executive  officer,  principal  financial
officer,  principal  accounting  officer  or  controller  and any other  persons
performing similar functions. The Code of Ethics will be provided free of charge
by the Company to interested  parties upon request.  Requests  should be made in
writing and directed to the Company at the following  address:  17800  Castleton
Street,  Suite 638, City of Industry,  California  91748.  A copy of the Code of
Ethics was attached as Exhibit 14 to the Company's  Annual Report on Form 10-KSB
for the Fiscal Year Ended December 31, 2007.

                                       22
<PAGE>
ITEM 11. EXECUTIVE COMPENSATION.

     The  following  table sets  forth the  aggregate  compensation  paid by the
Company to the above named  executive  officers and directors of the Company for
services rendered during the periods indicated:

                           SUMMARY COMPENSATION TABLE

<TABLE>
<CAPTION>

                                                                     Non-Equity      Nonqualified
 Name and                                                            Incentive         Deferred
 Principal                                    Stock       Option        Plan         Compensation     All Other
 Position       Year   Salary($)   Bonus($)  Awards($)   Awards($)  Compensation($)   Earnings($)   Compensation($)  Totals($)
 --------       ----   ---------   --------  ---------   ---------  ---------------   -----------   ---------------  ---------
<S>            <C>     <C>         <C>        <C>           <C>          <C>              <C>         <C>             <C>

Kenneth         2010   $240,000     $   0    $     0       $   0        $   0            $   0       $ 6,676(1)      $247,676
Yeung,          2009   $100,000     $   0    $     0       $   0        $   0            $   0       $ 6,584(2)      $106,584
President       2008   $100,000     $   0    $     0       $   0        $   0            $   0       $ 3,096(3)      $103,096
and CEO

Peter Chin,     2010   $      0     $   0    $50,000(4)    $   0        $   0            $   0       $     0         $ 50,000
Director        2009   $      0     $   0    $50,000(5)    $   0        $   0            $   0       $     0         $ 50,000
                2008   $      0     $   0    $     0       $   0        $   0            $   0       $     0         $      0
</TABLE>

----------
(1)  During the fiscal year ended  December 31, 2010, Mr. Kenneth Yeung received
     a cash salary of $40,000,  with an additional $200,000 in salary accrued by
     the  Company,  and a car  allowance of $6,676  (pursuant to his  employment
     agreement with the Company)
(2)  During the fiscal year ended  December 31, 2009, Mr. Kenneth Yeung received
     cash salary of $100,000  and a car  allowance  of $6,584  (pursuant  to his
     employment agreement with the Company).
(3)  During the fiscal year ended  December 31, 2008, Mr. Kenneth Yeung received
     cash salary of $100,000  and a car  allowance  of $3,096  (pursuant  to his
     employment agreement with the Company).
(4)  During 2010, the Company  issued 50,000 shares of Series D Preferred  Stock
     to Mr. Peter Chin as  compensation  for serving as Corporate  Secretary and
     Director of the  Company  during  2010.  The shares ere valued at $1.00 per
     share for an aggregate consideration of $50,000.
(5)  During 2009, the Company  issued 50,000 shares of Series D Preferred  Stock
     to Mr. Peter Chin as  compensation  for serving as Corporate  Secretary and
     Director  of the  Company  during  2008 and 2009.  The shares ere valued at
     $1.00 per share for an aggregate consideration of $50,000.

EMPLOYMENT CONTRACTS

     On  February  1, 2010,  the Company  entered  into a three year  Employment
Agreement with Mr. Yeung to become  effective on May 1, 2010,  that provides for
the following base compensation to Mr. Yeung:

          May-December 2010                   $20,000 per month
          January-December 2011               $22,500 per month
          January-December 2012               $25,000 per month
          January-April 2013                  $27,500 per month

     In addition to the above base  compensation,  Mr.  Yeung is entitled to the
following compensation benefits:

                                       23
<PAGE>
     *    Participation in the Company's Stock Option Plan;
     *    An undesignated monthly automobile allowance;
     *    Participation in group life,  hospitalization or disability  insurance
          programs, health programs,  pension plan similar benefit plan or other
          "fringe benefits" of the Company; and
     *    An annual incentive bonus in an amount not less than 1.8% of the total
          collected sales amount from operations of the Company,  payable within
          30 days after the end of each  fiscal  year during the term of his new
          Employment Agreement; and
     *    Other  incentive  bonus  in  an  amount  deemed   appropriate  by  the
          Compensation  Committee of the Company (when constituted),  subject to
          review every six months.

DIRECTOR COMPENSATION

     We do not have formal compensation plan for our directors.  During 2010 and
2009, we  compensated  Director Peter Chin with shares of our Series D Preferred
Stock as described in the above table.

COMPENSATION DISCUSSION AND ANALYSIS

     We have  prepared the  following  Compensation  Discussion  and Analysis to
provide you with  information  that we believe is  necessary to  understand  our
executive compensation policies and decisions as they relate to the compensation
of our named executive officers.

     We have only two  members on our board of  directors  and do not  currently
have a  compensation  committee.  However,  we  intend  to  expand  our board of
directors  in the near  future  by  appointing  or  electing  at  least  two new
directors  who will be deemed  to be  independent  directors.  The  presence  of
independent  directors  on our  board  of  directors  will  allow us to form and
constitute a compensation committee of our board of directors.

     The  primary  objectives  of the  compensation  committee  with  respect to
executive  compensation  will be to (i)  attract  and retain  the best  possible
executive  talent  available  to us; (ii)  motivate  our  executive  officers to
enhance our growth and profitability and increase  shareholder  value; and (iii)
reward superior  performance and  contributions  to the achievement of corporate
objectives.

     The focus of our  executive  pay  strategy  will be to tie  short-term  and
long-term cash and equity incentives to the achievement of measurable  corporate
and  individual  performance  objectives  or benchmarks  and to align  executive
compensation with the creation and enhancement of shareholder value. In order to
achieve  these  objectives,  our  compensation  committee  will be  tasked  with
developing  and  maintaining  a  transparent  compensation  plan that will tie a
substantial  portion  of our  executives'  overall  compensation  to our  sales,
operational efficiencies and profitability.

     Our board of directors has not set any performance objectives or benchmarks
for 2010, as it intends for those  objectives and benchmarks to be determined by
the  compensation  committee  once it is  constituted  and then  approved by the
board.   However,   we  anticipate  that  compensation   benefits  will  include
competitive  salaries,  bonuses (cash and equity  based),  health  insurance and
stock option plans.

     Our compensation  committee will meet at least quarterly to assess the cost
and effectiveness of each executive benefit and the performance of our executive
officers in light of our revenues, expenses and profits.

OTHER CONTRACTS

     None.

OPTION/SAR GRANTS TABLE

     There were no stock  options/SARS  granted under the Company's stock option
plans to executive officers and directors during fiscal 2010 or 2009.

                                       24
<PAGE>
AGGREGATE OPTION/SAR EXERCISES AND FISCAL YEAR-END OPTION/SAR VALUE TABLE

     There were no exercises of stock  options/SAR by executive  officers during
fiscal 2010 or 2009.

LONG-TERM INCENTIVE PLAN AWARDS

     There were no long-term  incentive  plan awards made in the last two fiscal
years.

REPRICING OPTIONS

     During the fiscal year ended December 31, 2010, the Company did not reprice
any stock options.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
         RELATED STOCKHOLDER MATTERS.

     To our  knowledge,  the following  table sets forth,  as of March 28, 2011,
information regarding the ownership of our common stock by:

     *    Persons who own more than 5% of our common stock
     *    each of our directors and each of our executive officers; and
     *    all directors and executive officers as a group.

(a) Security Ownership of Certain Beneficial Owners

     The Company has three (3) classes of voting securities  outstanding (Common
Stock,  Series A Preferred  Stock and Series C Preferred  Stock).  The following
table sets forth security  ownership  information as of the close of business on
March 28, 2011,  for any person or group,  known by the Company to own more than
five percent (5%) of the Company's common stock and Series C Preferred Stock. No
table is included  for the  Company's  Series A Preferred  Stock due to the fact
that only 96 shares  of same are  outstanding  and such  shares  represent  a DE
MINIMUS number of votes that could be cast on any matter presented for a vote of
stockholders.

<TABLE>
<CAPTION>
                                                                    Amount and
                                                                    Nature of
     Name and Address                         Title of              Beneficial     Percent of
   of Beneficial Owner                          Class                 Owner          Class
   -------------------                          -----                 -----          -----
<S>                                      <C>                       <C>            <C>
Kenneth Yeung                            Series C Preferred         3,000,000        100%(1)
17800 Castleton Street, Suite 638
City of Industry, CA 91748
</TABLE>

----------
1.   The Series C Preferred Stock has voting rights of 3,000 votes per share, so
     that Mr. Yeung has the right to vote  9,000,000,000  of the  13,269,947,486
     votes that may be cast by Mr.  Yeung and the  holders of our common  stock,
     thereby giving Mr. Yeung controlling voting rights in the Company.

(b) Security Ownership of Management

     The following  table sets forth  security  ownership  information as of the
close of business on March 28, 2011, of all directors and all executive officers
listed in the "Summary  Compensation  Table" set forth herein, and all directors
and executive officers as a group.

                                       25
<PAGE>
<TABLE>
<CAPTION>
                                                                    Amount and
                                                                    Nature of
     Name and Address                          Title of             Beneficial     Percent of
   of Beneficial Owner                           Class                Owner          Class
   -------------------                           -----                -----          -----
<S>                                   <C>                          <C>            <C>

Kenneth Yeung                         Series C Preferred Stock      3,000,000       100.00%
17800 Castleton Street, Suite 638     Common Stock                          0            0%
City of Industry, CA 91748

Peter Chin
17800 Castleton Street, Suite 638     Series D Preferred Stock         50,000           26%
City of Industry, CA 91748            Common Stock                 60,570,173            0%

Officers and Directors as a           Series C Preferred Stock      3,000,000       100.00%
 Group (2 persons)                    Series D Preferred Stock         50,000           26%
                                      Common Stock                 60,570,173       Less than 1%
</TABLE>

(c) Securities Authorized for Issuance under Equity Compensation Plans: None.

     There  are  no  arrangements  or  understandings  among  the  entities  and
individuals  referenced above or their respective associates concerning election
of directors or other any other matters which may require shareholder approval.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
         INDEPENDENCE.

     During 2010, the Company had no formal or standard compensation arrangement
with members of its Board of Directors.  During 2010, and as of the date of this
annual report,  the Company's two directors,  Kenneth Yeung and Peter Chin, were
and are not independent directors. As discussed under Item 2, above, on February
20, 2009, the Company entered into a sublease agreement with Allied Consultants,
Inc., a company owned by Nelson  Yeung,  the brother of our  President,  Kenneth
Yeung.  Our  board of  directors  believes  the  sublease  is on terms  fair and
favorable to the Company.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.

INDEPENDENT PUBLIC ACCOUNTANTS

     The Company has renewed the engagement of HJ & Associates,  LLC to serve as
the  independent   accounting  firm   responsible  for  auditing  our  financial
statements for the fiscal year ended December 31, 2010.

     (1) Audit  Fees.  During  the fiscal  year ended  December  31,  2010,  the
aggregate  fees billed by the Company's  auditors for services  rendered for the
audit  of our  annual  financial  statements  and the  review  of the  financial
statements  included  in our  quarterly  reports  on Form 10-Q and for  services
provided in connection with the statutory and regulatory  filings or engagements
for 2010,  was $28,500.  During the fiscal year ended  December  31,  2009,  the
aggregate fees billed by the Company's  auditors,  for services rendered for the
audit  of our  annual  financial  statements  and the  review  of the  financial
statements  included  in our  quarterly  reports  on Form 10-Q and for  services
provided in connection with the statutory and regulatory  filings or engagements
for 2009, was $42,100.

     (2)  Audit-Related  Fees.  During fiscal years ended  December 31, 2010 and
2009, our auditors did not receive any fees for any audit-related services other
than as set forth in paragraph (1) above.

     (3) Tax Fees.  During  the years  ended  December  31,  2010 and 2009,  our
Auditors billed us $3,000 and $4,300, for tax services, respectively.

     (4) All Other Fees. None.

                                       26
<PAGE>
     (5) Audit Committee's Pre-Approval Policies and Procedures.

     Effective May 6, 2003, the Securities and Exchange Commission adopted rules
that require that before  Principal  Accountants are engaged by us to render any
auditing or permitted  non-audit related service,  the engagement be:

     *    approved by our audit committee (which consists of our entire board of
          directors); or
     *    entered  into  pursuant  to   pre-approval   policies  and  procedures
          established  by the board of  directors,  provided  the  policies  and
          procedures  are detailed as to the  particular  service,  the board of
          directors  is  informed  of  each  service,   and  such  policies  and
          procedures  do not  include  delegation  of the  board  of  directors'
          responsibilities to management.

     The  board  of  directors   pre-approves  all  services   provided  by  our
independent  auditors.  All of the above  services  and fees were  reviewed  and
approved  by the  board of  directors  either  before  or after  the  respective
services were rendered.

     The board of directors has  considered the nature and amount of fees billed
by our  principal  accountants  and believes  that the provision of services for
activities  unrelated to the audit is compatible with  maintaining our principal
accountants' independence.

     During the 2010 and 2009  fiscal  years,  the  Company  used the  following
pre-approval procedures related to the selection of our independent auditors and
the  services  they  provide:  unanimous  consent of all  directors  via a board
resolution.

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES.

     (a)  (1) Financial Statements

          Financial  statements for International  Building  Technologies Group,
          Inc.  listed in the Index to Financial  Statements  and  Supplementary
          Data on page F-1 are filed as part of this Annual Report.

     (a)  (2) Financial Statement Schedule

          Financial Statement Schedule for International  Building  Technologies
          Group,   Inc.  listed  in  the  Index  to  financial   Statements  and
          Supplementary  Data  on  page  F-1 are  filed  as part of this  Annual
          Report.

     (a)  (3) See the "Index to Exhibits" set forth below.

     (b)  See  Exhibit  Index  below  for  exhibits  required  by  Item  601  of
          Regulation S-K

                                       27
<PAGE>
                                  EXHIBIT INDEX

     List of Exhibits attached or incorporated by reference pursuant to Item 601
of Regulation S-K

Exhibit                            Description
-------                            -----------
2(i)*      Agreement and Plan of Merger (Appendix D of the Company's  Definitive
           Proxy Statement on Form DEF 14A filed with the Commission on June 25,
           2004).

3(i)(1)*   Restated Articles of Incorporation  filed with the Secretary of State
           of  Colorado  on  August  10,  2004  (Appendix  A  of  the  Company's
           Definitive  Proxy Statement on Form DEF 14A filed with the Commission
           on June 25, 2004).

3(i)(2)*   Articles of  Incorporation of Ten Stix, Inc. filed with the Secretary
           of  State  of  Nevada  on May 28,  2004(Appendix  F of the  Company's
           Definitive  Proxy Statement on Form DEF 14A filed with the Commission
           on June 25, 2004).

3(i)(3)*   Certificate  of Amendment to Articles of  Incorporation  of Ten Stix,
           Inc.  filed with the Secretary of State of Nevada on December 1, 2004
           (Exhibit 3.1 to the Company's  Current  Report on Form 8-K filed with
           the Commission on December 6, 2004).

3(i)(4)*   Certificate  of  Amendment to the  Articles of  Incorporation  of the
           Company  filed with the  Secretary  of State of Nevada on October 12,
           2006(Exhibit  3(1) to the Company's  Quarterly  report on Form 10-QSB
           filed with the Commission on November 14, 2006).

3(i)(5)*   Certificate  of  Amendment to the  Articles of  Incorporation  of the
           Company  filed  with the  Secretary  of State of  Nevada  on July 17,
           2007(Exhibit  3 (i)(5) to the Company's form 10-KSB Annual Report for
           the Fiscal Year Ended December 31, 2007, filed with the Commission on
           April 3, 2008).

3(i)(6)*   Certificate  of  Amendment to the  Articles of  Incorporation  of the
           Company  filed with the Secretary of State of Nevada on May 22, 2008,
           changing  par value of common  stock to $.00001  (Exhibit  3.1 to the
           Company's  Quarterly Report for the Period Ended June 30, 2008, filed
           with the Commission on August 13, 2008).

3(i)(7)*   Certificate of Amendment to Articles of  Incorporation  to change the
           total authorized  shares and conversion terms of the Company's Series
           E Preferred Stock filed with the Secretary of State of Nevada on July
           28,  2008(Exhibit 4.2 to the Company's  Quarterly Report on Form 10-Q
           for the Period  Ended June 30,  2008,  filed with the  Commission  on
           August 13, 2008).

3(i)(8)*   Certificate of Amendment to Articles of  Incorporation  to change the
           total  authorized  capital  stock  of  the  Company  filed  with  the
           Secretary  of State of Nevada on August 11,  2008(Exhibit  4.3 to the
           Company's Quarterly Report on Form 10-Q for the Period Ended June 30,
           2008, filed with the Commission on August 13, 2008).

3(i)(9)*   Certificate of Amendment to Articles of  Incorporation  to change the
           total  authorized  capital  stock  of the  Company,  filed  with  the
           Secretary of State of Nevada on October 13, 2009 (Exhibit  3(i)(9) to
           the  Company's  Quarterly  Report on Form 10-Q for the  Period  Ended
           September 30, 2009, filed with the Commission on November 16, 2009).

                                       28
<PAGE>
3(i)(10)*  Certificate of Amendment to Articles of  Incorporation  to change the
           total  authorized  capital  stock  of the  Company,  filed  with  the
           Secretary of State of Nevada and effective  October 25, 2010 (Exhibit
           3(i)(10) to the Company's  Current  Report on Form 8-K filed with the
           Commission on October 26, 2010).

3(ii)*     By-laws of the Company  (Exhibit 3. II to the Company's  Registration
           Statement  on Form 10-SB  filed with the  Commission  on  February 8,
           2001).

4(i)*      Certificate of  Designation of Series A Preferred  Stock of Ten Stix,
           Inc. (Appendix G of the Company's  Definitive Proxy Statement on Form
           DEF 14A filed with the Commission on June 25, 2004).

4(ii)*     Certificate of Designation of Series C Preferred Stock of the Company
           (Exhibit 99.1 to the Company's  Current report on Form 8-K filed with
           the Commission on September 14, 2006).

4(iii)*    Certificate  of Amendment to  Certificate  of Designation of Series B
           Preferred  Stock of the Company  filed with the Secretary of State of
           Nevada on May 30,  2007(Exhibit 4(iii) to the Company's Annual Report
           on Form 10-KSB for the Fiscal Year Ended  December  31,  2007,  filed
           with the Commission on April 3, 2008).

4(iv)*     Certificate  of Amendment to  Certificate  of Designation of Series C
           Preferred  Stock of  Company  filed  with the  Secretary  of State of
           Nevada on May 30,  2007(Exhibit  4(iv) to the Company's Annual Report
           on Form 10-KSB for the Fiscal Year Ended  December  31,  2007,  filed
           with the Commission on April 3, 2008).

4(v)*      Certificate  of Amendment to  Certificate  of Designation of Series D
           Preferred  Stock of the Company  filed with the Secretary of State of
           Nevada on December  10,  2007(Exhibit  4(v) to the  Company's  Annual
           Report on Form 10-KSB for the Fiscal Year Ended  December  31,  2007,
           filed with the Commission on April 3, 2008).

4(vi)*     Certificate of Designation of Series E Preferred Stock of the Company
           filed  with  the  Secretary  of  State  of  Nevada  on  December  10,
           2007(Exhibit  4(vi) to the Company's Annual Report on Form 10-KSB for
           the Fiscal Year Ended December 31, 2007, filed with the Commission on
           April 3, 2008).

4(vii)*    Certificate of Designation of Series F Preferred Stock of the Company
           filed  with the  Secretary  of  State of  Nevada  on April  23,  2008
           (Exhibit 4.1 to the Company's  Quarterly  Report on Form 10-Q for the
           Period Ended June 30, 2008,  filed with the  Commission on August 13,
           2008).

4(viii)*   Amendment to Certificate  of  Designation  After Issuance of Class or
           Series to change the total authorized  shares and conversion terms of
           the  Company's  Series E Preferred  Stock filed with the Secretary of
           State of Nevada  on  August  28,  2008(Exhibit  4.4 to the  Company's
           Quarterly  Report on Form 10-Q for the Period  Ended  June 30,  2008,
           filed with the Commission on August 13, 2008).

                                       29
<PAGE>
10.1*      Stock Sale and Purchase  Agreement  dated March 14, 2007, by, between
           David  Keaveney,  Kenneth Yeung and the  Company(Exhibit  10.1 to the
           Company's  Current  Report on Form 8-K filed with the  Commission  on
           March 27, 2007).

10.2*      Asset Sale and Purchase  Agreement dated July 8, 2007, by and between
           International  Building  Technologies  Co.,  Ltd.  and Suining  Yinfa
           Construction & Engineering  Co.,  Ltd.(Exhibit  10.1 to the Company's
           Current  Report on Form 8-K  filed  with the  Commission  on July 23,
           2007).

10.3*      Amendment  to Asset Sale and  Purchase  Agreement  by and between the
           Company  and  Suining  Yinfa  Construction  and  Engineering,   Ltd.,
           executed on December 5,  2007(Exhibit  10.2 to the Company's  Current
           Report on Form 8-K, filed with the Commission on April 29, 2008).

10.4*      Rescission  to the Asset Sale and  Purchase  Agreement by and between
           the Company and Suining Yinfa  Construction  and  Engineering,  Ltd.,
           executed  on April 23,  2008(Exhibit  10.1 to the  Company's  Current
           Report on Form 8-K, filed with the Commission on April 29, 2008).

10.5*      Twelve Month Convertible Note Amendment dated March 14,  2007(Exhibit
           10.2 to the  Company's  Current  Report  on Form 8-K  filed  with the
           Commission on March 27, 2007).

10.6*      Employment  Agreement between the Company and Kenneth Yeung dated May
           21, 2007,  effective May 1, 2007(Exhibit 10.8 to the Company's Annual
           Report on Form 10-KSB for the Fiscal Year Ended  December  31,  2007,
           filed with the Commission on April 3, 2008).

10.7*      Employment  Agreement  between the  Company  and Kenneth  Yeung dated
           February 1, 2010, effective May 1, 2010.

10.8*      Stock Sale and  Purchase  Agreement  by and  between  the Company and
           Wuhan Intepower Co., Ltd., executed on April 17, 2008(Exhibit 10.1 to
           the Company's  Current  Report on Form 8-K, filed with the Commission
           on April 21, 2008).

10.9*      Compensation  Agreement  between  the  Company  and Peter  Chin dated
           September 30, 2009.

14*        Code of Ethics  (Exhibit 14 to the  Company's  Annual  Report on Form
           10-KSB for the Fiscal Year Ended  December 31,  2007,  filed with the
           Commission on April 3, 2008).

21**       Subsidiaries of the Company

31.1**     Certification  of Principal  Executive  Officer Pursuant to 18 U.S.C.
           Section 1350

31.2**     Certification  of Principal  Financial  Officer Pursuant to 18 U.S.C.
           Section 1350

32.1**     906 Certification of Principal Executive Officer 906 Certification of
           Principal Financial Officer

                                       30
<PAGE>
                                   SIGNATURES

     In accordance  with Section 13 or 15(d) of the  Securities  Exchange Act of
1934,  the  Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

                                 International Building Technologies Group, Inc.


Dated: March 30, 2011                 /s/ Kenneth Yeung
                                      -----------------------------------------
                                 By:  Kenneth Yeung
                                 Its: President and Chief Executive Officer

     In accordance  with the  Securities  Exchange Act of 1934,  this report has
been signed below by the following  persons on behalf of the  Registrant  and in
the capacities and on the dates indicated.


Dated: March 30, 2011                 /s/ Kenneth Yeung
                                      -----------------------------------------
                                 By:  Kenneth Yeung
                                 Its: President, Chief Executive Officer, and
                                      Director (Principal Executive Officer)
                                      Chief Financial Officer
                                      (Principal Financial Officer and Principal
                                      Accounting Officer)


Dated: March 30, 2011                 /s/ Peter Chin
                                      -----------------------------------------
                                 By:  Peter Chin
                                 Its: Corporate Secretary and Director

                                       31
<PAGE>
             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors and Shareholders
International Building Technologies Group, Inc.

We have audited the  accompanying  consolidated  balance sheets of International
Building Technologies Group, Inc. and subsidiaries (A Development Stage Company)
as of December 31, 2010 and 2009,  and the related  consolidated  statements  of
operations,  stockholders'  deficit, and cash flows for the years then ended and
since  re-entering the development  stage on April 1, 2007 through  December 31,
2010.  These  financial  statements  are  the  responsibility  of the  Company's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits.

We conducted our audits in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements  are free of material  misstatement.  The Company is not  required to
have,  nor were we  engaged to perform  an audit of its  internal  control  over
financial reporting.  Our audit included  consideration of internal control over
financial  reporting  as  a  basis  for  designing  audit  procedures  that  are
appropriate  in the  circumstances,  but not for the  purpose of  expressing  an
opinion on the  effectiveness  of the Company's  internal control over financial
reporting.  Accordingly,  we express  no such  opinion.  An audit also  includes
examining,  on a test basis,  evidence supporting the amounts and disclosures in
the  financial   statements,   assessing  the  accounting  principles  used  and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion, the consolidated  financial statements referred to above present
fairly,  in all  material  respects,  the  financial  position of  International
Building  Technologies  Group, Inc. and subsidiaries as of December 31, 2010 and
2009,  and the  results of their  operations  and their cash flows for the years
then ended and since  re-entering the development stage on April 1, 2007 through
December  31,  2010  in  conformity  with  U.S.  generally  accepted  accounting
principles.

The accompanying  consolidated  financial statements have been prepared assuming
that the Company will continue as a going concern. As discussed in Note 3 to the
consolidated financial statements, the Company has suffered recurring losses and
has experienced  negative cash flows from operations,  which raises  substantial
doubt about the Company's  ability to continue as a going concern.  Management's
plans  in  regard  to  those  matters  are  also  described  in  Note  3 to  the
consolidated financial statements.  The consolidated financial statements do not
include any adjustments that might result from the outcome of this uncertainty.


/s/ HJ Associates & Consultants, LLPu
-----------------------------------------------
HJ Associates & Consultants, LLP
Salt Lake City, Utah
March 30, 2011

                                      F-1
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                           CONSOLIDATED BALANCE SHEETS


                                                December 31,        December 31,
                                                   2010                2009
                                                 -------             -------
                           ASSETS

Cash                                             $ 1,605             $12,514
Other current assets                               1,011               1,011
                                                 -------             -------
      Total current assets                         2,616              13,525
                                                 -------             -------

Other assets                                       2,000               2,000
                                                 -------             -------

      Total assets                               $ 4,616             $15,525
                                                 =======             =======


           See accompanying notes to consolidated financial statements

                                      F-2
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                           CONSOLIDATED BALANCE SHEETS
                                   (CONTINUED)

<TABLE>
<CAPTION>
                                                                                      December 31,        December 31,
                                                                                          2010                2009
                                                                                      ------------        ------------
<S>                                                                                   <C>                 <C>
                       LIABILITIES & STOCKHOLDERS' DEFICIT

LIABILITIES
  Accounts payable and accrued expenses                                               $    193,822        $    204,437
  Accrued expenses - related parties and shareholders                                      362,382             207,321
  Accrued interest                                                                          62,183              33,808
  Accrued interest - related parties and shareholders                                      100,019              67,352
  Derivative liability                                                                     802,102           2,105,829
  Investor deposit                                                                         220,000                  --
  Notes payable                                                                            145,500             145,175
  Notes payable to shareholders                                                            495,679             668,411
                                                                                      ------------        ------------
      Total current liabilities                                                          2,381,687           3,432,633
                                                                                      ------------        ------------
STOCKHOLDERS' DEFICIT
  Preferred A stock, $250 par value, 10,000 shares authorized;
   96 shares issued and outstanding                                                         24,000              24,000
  Preferred C stock, $.001 par value, 3,000,000 shares authorized;
   3,000,000 and 2,000,000 shares issued and outstanding                                     3,000               2,000
  Preferred D stock,  $.001 par value, 10,000,000 shares authorized;
   145,000 and 172,680 shares issued and outstanding                                           195                 208
  Preferred E stock, $.001 par value, 50,000,000 shares authorized;
   30,800 shares issued and outstanding                                                         25                  25
  Preferred F stock, $.001 par value, 3,000,000 shares authorized;
   20,000 shares issued and outstanding                                                         20                  20
  Common stock; $.00001 par value, 5,950,000,000 shares authorized;
   4,269,947,486 and 2,307,177,093 issued and outstanding                                   42,700              23,072
  Additional paid-in capital                                                            10,170,883           9,882,383
  Accumulated deficit - Prior to reentering development stage                           (5,534,336)         (5,534,336)
  Accumulated deficit - From inception of reentering development stage on 4/1/2007      (7,080,130)         (7,813,920)
  Other comprehensive loss                                                                  (3,428)               (560)
  Noncontrolling interest                                                                       --                  --
                                                                                      ------------        ------------
      Total stockholders' deficit                                                       (2,377,071)         (3,417,108)
                                                                                      ------------        ------------
      Total liabilities and stockholders' deficit                                     $      4,616        $     15,525
                                                                                      ============        ============
</TABLE>


           See accompanying notes to consolidated financial statements

                                      F-3
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                                               Cumulative Since
                                                           Year Ended December 31,                Reentering
                                                     ---------------------------------         Development Stage
                                                        2010                  2009           4/1/2007 - 12/31/2010
                                                     -----------           -----------       ---------------------
<S>                                                  <C>                   <C>                   <C>
Revenue                                              $       --            $        --           $        --
Operating expenses:
  General and administrative                             503,480               480,513             2,251,950
  Goodwill impairment                                         --                    --             1,303,277
  Depreciation and amortization                               --                    --                 3,658
                                                     -----------           -----------           -----------
Total operating expenses                                 503,480               480,513             3,558,885
                                                     -----------           -----------           -----------
Operating loss                                          (503,480)             (480,513)           (3,558,885)
                                                     -----------           -----------           -----------
Other income (expense):
  Interest income                                             --                    --                   374
  Interest expense                                       (87,302)           (1,402,005)           (2,585,625)
  Loss on settlement                                          --                    --               (23,500)
  Loss on investment                                          --               (80,750)             (115,750)
  Gain/(Loss) on extinguishment of debt                   20,800                    --                32,097
  Gain on disposal of assets                                  --                    --                 2,565
  Change in fair value of derivative liability         1,303,727                32,133              (802,102)
  Minority interest in net loss of subsidiary                 --                    --                15,000
  Other income (expense)                                      45                    --                 3,855
                                                     -----------           -----------           -----------
Total other income (expense)                           1,237,270            (1,450,622)           (3,473,086)
                                                     -----------           -----------           -----------
Income/(Loss) from continuing operations             $   733,790           $(1,931,135)          $(7,031,971)
                                                     -----------           -----------           -----------
</TABLE>


           See accompanying notes to consolidated financial statements

                                      F-4
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (CONTINUED)

<TABLE>
<CAPTION>
                                                                                                    Cumulative Since
                                                                 Year Ended December 31,               Reentering
                                                           -----------------------------------      Development Stage
                                                                2010                 2009         4/1/2007 - 12/31/2010
                                                           --------------       --------------    ---------------------
<S>                                                      <C>                     <C>                <C>
Income/(Loss) from continuing operations                   $      733,790       $   (1,931,135)       $   (7,031,971)
                                                           --------------       --------------        --------------
Discontinued operations:
  Income (loss) from operations of discontinued business               --                   --               (20,063)
  Income (loss) on disposal of assets                                  --                   --                61,058
                                                           --------------       --------------        --------------
Income (loss) on discontinued operations                               --                   --                40,995
                                                           --------------       --------------        --------------
Net Income/(loss)                                                 733,790           (1,931,135)           (6,990,976)

Preferred dividend                                                     --                   --               (89,154)
                                                           --------------       --------------        --------------
Net Income/(loss) attributable to common shareholders             733,790           (1,931,135)           (7,080,130)
                                                           --------------       --------------        --------------
Other comprehensive income
  Foreign currency translation                                     (2,868)                (386)               (3,428)
                                                           --------------       --------------        --------------
Comprehensive income/(loss)                                $      730,922       $   (1,931,521)       $   (7,083,558)
                                                           ==============       ==============        ==============

Net income/(loss) per common share - basic and diluted
  Continuing operations                                    $         0.00       $        (0.00)
                                                           ==============       ==============
  Discontinued operations                                  $           --       $           --
                                                           ==============       ==============
  Net Income (loss) per common share                       $         0.00       $        (0.00)
                                                           ==============       ==============

Weighted average common shares outstanding:
  Basic                                                     3,290,056,275        1,490,914,770
                                                           ==============       ==============
  Diluted                                                   5,950,000,000                   --
                                                           ==============       ==============
</TABLE>


           See accompanying notes to consolidated financial statements

                                      F-5
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT
<TABLE>
<CAPTION>
                                                  Preferred Stock A           Preferred Stock C        Preferred Stock D
                                                Shares        Amount         Shares       Amount      Shares       Amount
                                                ------        ------         ------       ------      ------       ------
<S>                                            <C>          <C>           <C>           <C>          <C>         <C>
BALANCE, DECEMBER 31, 2008                          96        $24,000       1,000,000     $1,000       35,000     $    35

2009
Common stock issued for repayment of debt
Preferred stock for services                                                                           50,000          50
Sale of stock for cash                                                      1,000,000      1,000      122,500         123
Beneficial conversion feature
Other comprhensive loss
Net loss
                                               -------        -------       ---------     ------     --------     -------
BALANCE, DECEMBER 31, 2009                          96        $24,000       2,000,000     $2,000      207,500     $   208
                                               =======        =======       =========     ======     ========     =======
2010
Common stock issued for repayment of debt
Common stock converted from preferred stock
Preferred stock for services                                                                           50,000          50
Preferred stock converted to common stock                                                            (122,500)       (123)
Sale of stock for cash                                                      1,000,000      1,000       60,000          60
Beneficial conversion feature
Other comprhensive loss
Net income
                                               -------        -------       ---------     ------     --------     -------
BALANCE, DECEMBER 31, 2010                          96        $24,000       3,000,000     $3,000      195,000     $   195
                                               =======        =======       =========     ======     ========     =======

                                                  Preferred Stock E         Preferred Stock F           Common Stock
                                                 Shares       Amount        Shares     Amount       Shares         Amount
                                                 ------       ------        ------     ------       ------         ------
BALANCE, DECEMBER 31, 2008                     30,800       $    25       20,000       $    20      747,853,494    $ 7,478

2009
Common stock issued for repayment of debt                                                         1,559,323,599     15,594
Preferred stock for services
Sale of stock for cash
Beneficial conversion feature
Other comprhensive loss
Net loss
                                               ------       -------       ------       -------    -------------    -------
BALANCE, DECEMBER 31, 2009                     30,800       $    25       20,000       $    20    2,307,177,093    $23,072
                                               ======       =======       ======       =======    =============    =======
2010
Common stock issued for repayment of debt                                                         1,275,651,897     12,757
Common stock converted from preferred stock                                                         687,118,496      6,871
Preferred stock for services
Preferred stock converted to common stock
Sale of stock for cash
Beneficial conversion feature
Other comprhensive loss
Net income
                                               ------       -------       ------       -------    -------------    -------
BALANCE, DECEMBER 31, 2010                     30,800       $    25       20,000       $    20    4,269,947,486    $42,700
                                               ======       =======       ======       =======    =============    =======

                                                                                 Accumulated
                                                                Accumulated     Deficit After
                                                               Deficit Prior     Reentering
                                                               to Reentering     Development       Other
                                                 Paid-In        Development         Stage       Comprehensive
                                                 Capital           Stage         on 4/1/2007        Loss          Total
                                                 -------           -----         -----------        ----          -----

BALANCE, DECEMBER 31, 2008                    $ 8,556,173       $(5,534,336)    $(5,882,785)     $  (174)      $(2,828,564)

2009
Common stock issued for repayment of debt         188,716                                                          204,310
Preferred stock for services                       49,950                                                           50,000
Sale of stock for cash                            122,377                                                          123,500
Beneficial conversion feature                     965,167                                                          965,167
Other comprhensive loss                                                                             (386)             (386)
Net loss                                                                         (1,931,135)                    (1,931,135)
                                              -----------       -----------     -----------      -------       -----------
BALANCE, DECEMBER 31, 2009                    $ 9,882,383       $(5,534,336)    $(7,813,920)     $  (560)      $(3,417,108)
                                              ===========       ===========     ===========      =======       ===========
2010
Common stock issued for repayment of debt         185,359                                                          198,116
Common stock converted from preferred stock       115,629                                                          122,500
Preferred stock for services                      109,890                                                           50,000
Preferred stock converted to common stock        (122,378)                                                        (122,501)
Sale of stock for cash                             59,640                                                           61,000
Beneficial conversion feature                                                                                           --
Other comprhensive loss                                                                           (2,868)           (2,868)
Net income                                                                          733,790                        733,790
                                              -----------       -----------     -----------      -------       -----------
BALANCE, DECEMBER 31, 2010                    $10,170,883       $(5,534,336)    $(7,080,130)     $(3,428)      $(2,377,071)
                                              ===========       ===========     ===========      =======       ===========
</TABLE>

       See accompanying footnotes to the consolidated financial statements

                                      F-6
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                                                          Cumulative Since
                                                                           Year Ended December 31,           Reentering
                                                                       -----------------------------      Development Stage
                                                                          2010              2009        4/1/2007 - 12/31/2010
                                                                       -----------       -----------    ---------------------
<S>                                                                    <C>               <C>                 <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income/(loss) from continuing operations                         $   733,790       $(1,931,135)        $(7,080,129)
  Adjustments to reconcile net income (loss) to net
   cash used by operating activities:
     Depreciation                                                               --                --               3,658
     Impairment of goodwill                                                     --                --           1,303,277
     Amortization of debt discounts                                             --                --             128,933
     Loss/(Gain) on extinguishment of debt                                      --                --             (70,843)
     Loss on Investments                                                        --            80,750             115,750
     Interest expense associated with beneficial conversion feature          2,788         1,312,770           2,165,375
     Change in fair value of derivative liability                       (1,303,727)          (32,133)            802,102
     Director stock based compensation                                      50,000            50,000             150,000
     Common stock issued for services                                           --                --             394,519
     Common stock issued for settlement                                         --                --              13,500
     Gain on disposal of equipment                                              --                --              (2,565)
     Minority interest in net loss of subsidiary                                --                --             (15,000)
  Change in assets and liabilities:
     Prepaid expenses and other assets                                          --             1,863                 529
     Accounts payable and accrued expenses                                 228,108           324,967             867,826
                                                                       -----------       -----------         -----------
Net cash used in continuing operations                                    (289,041)         (192,918)         (1,223,068)
Net income (loss) from discontinued operations                                  --                --              40,995
Net cash provided by (used in) discontinued operations                          --                --             (83,796)
                                                                       -----------       -----------         -----------
Net cash used in operating activities                                     (289,041)         (192,918)         (1,265,869)
                                                                       -----------       -----------         -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Deposit on investment                                                         --            80,750             (80,750)
                                                                       -----------       -----------         -----------
Net cash used in continuing operations                                          --            80,750             (80,750)
                                                                       -----------       -----------         -----------
Net cash provided by in investing activities                           $        --       $    80,750         $   (80,750)
                                                                       -----------       -----------         -----------
</TABLE>


           See accompanying notes to consolidated financial statements

                                      F-7
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (CONTINUED)

<TABLE>
<CAPTION>
                                                                                                          Cumulative Since
                                                                           Year Ended December 31,           Reentering
                                                                       -----------------------------      Development Stage
                                                                          2010              2009        4/1/2007 - 12/31/2010
                                                                       -----------       -----------    ---------------------
<S>                                                                    <C>               <C>                 <C>
CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from related party notes payable                                     --                --              80,000
  Proceeds from notes payable                                                   --                --             628,876
  Proceeds from investor deposit, net                                      220,000                --             220,000
  Repayments of notes payable                                                   --                --             (34,448)
  Proceeds from issuance of preferred stock                                 61,000           123,501             205,301
  Proceeds from issuance of common stock                                        --                --             180,464
  Proceeds from issuance of common stock for asset purchase                     --                --               6,206
  Proceeds from exercise of stock options                                       --                --               4,375
                                                                       -----------       -----------         -----------
      Net cash provided by financing activities                            281,000           123,501           1,290,774
                                                                       -----------       -----------         -----------

Effect of exchange rate changes on cash                                     (2,868)             (386)             (3,428)
                                                                       -----------       -----------         -----------
Cash:
  Increase (decrease) in cash                                              (10,909)           10,947             (59,273)

CASH, beginning of period                                                   12,514             1,567              60,878
                                                                       -----------       -----------         -----------
CASH, end of period                                                    $     1,605       $    12,514         $     1,605
                                                                       ===========       ===========         ===========

SUPPLEMENTAL DISCLOSURES:
  Tax paid                                                             $        --       $     1,600         $     4,800
                                                                       ===========       ===========         ===========
  Cash paid for interest                                               $       235       $       108         $     1,501
                                                                       ===========       ===========         ===========
NON-CASH DISCONTINUED OPERATION ACTIVITIES:
  Employee stock based compensation                                    $        --       $        --         $    30,698
  Issuance of common stock for debt                                    $        --       $        --         $   389,360

NON-CASH FINANCING AND INVESTING ACTIVITIES:
  Issuance of note for accrued expenses                                $        --       $        --         $   201,026
  Issuance of common stock by conversion of preferred stock D          $   122,500       $        --         $   243,490
  Issuance of common stock for payment of debt                         $   198,125       $   204,310         $   947,506
  Issuance of common stock for settlement                              $        --       $        --         $    13,500
  Cancelation of Rosetop project and related Preferred E Stock         $        --       $        --         $  (315,000)
  Issuance of common stock for Purchase of Company                     $        --       $        --         $ 1,300,000
</TABLE>


           See accompanying notes to consolidated financial statements

                                      F-8
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

Note 1:  Organization, Basis of Presentation and Significant Accounting Policies

Organization

International  Building  Technologies Group, Inc. (OTCBB:  INBG) (the "Company")
has  four  total   subsidiaries,   one  active   subsidiary  and  three  dormant
subsidiaries.

Active Subsidiaries:

     *    International  Building  Technologies  Co., Ltd. ("IBT Hong Kong") - a
          Hong Kong Corporation with equity interest of 100%

Dormant Subsidiaries:

     *    Scottsdale  Diecast,  Inc. - a Nevada Corporation with equity interest
          of 100%
     *    Quadriga Motorsports, Inc. - a Nevada Corporation with equity interest
          of 100%
     *    International   Building   Technologies,   Inc.  ("IBT")  -  a  Nevada
          Corporation with equity interest of 80%

Currently  the Company or its  subsidiary  is focusing its  attention on several
viable  businesses that could be well suited to possibly merge into the company.
The  Company  has  signed a letter of intent  (LOI) with a Chinese  company  and
entered into the process of merge.  The Company  believes it is in a position of
strength  and is going to  explore  every  opportunity  to bring  value  assets,
revenue and profit back to its stockholders and investors.

The Company has engaged a Chinese law firm to conduct the due diligent,  as well
an audit  firm to  conduct  the audit as  required  for the  merge.  Result  and
progress  of such  Due  Diligent  and  audit  will be  announced  once  they are
completed.

The  Company  had  offices in  Alameda,  CA,  and  Shanghai,  China in 2007.  In
December,  2008, the Company closed the office in Shanghai,  China.  In January,
2009,  the  Company  closed  the  office  in  Alameda,  CA and  moved to City of
Industry, CA.

Basis of Financial Statement Presentation

The  accompanying  consolidated  financial  statements have been prepared by the
Company  pursuant to the rules and  regulations  of the  Securities and Exchange
Commission.  The information furnished in the consolidated  financial statements
includes normal recurring  adjustments and reflects all  adjustments,  which, in
the  opinion  of  management,  are  necessary  for a fair  presentation  of such
financial statements.

Principles of Consolidation

The accompanying  consolidated  financial statements include the accounts of the
Company and its  subsidiaries.  All intercompany  accounts and transactions have
been eliminated.

Use of Estimates

The preparation of financial statements in conformity with accounting principles
generally  accepted in the United States of America requires  management to make
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities  and disclosure of contingent  assets and liabilities at the date of
the  financial  statements  and the  reported  amounts of revenues  and expenses
during the reporting  period.  Actual results could differ from those  estimates
and assumptions.

                                      F-9
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

Reclassification

Certain reclassifications,  which have no effect on net income (loss), have been
made  in the  prior  period  financial  statements  to  conform  to the  current
presentation.

Intangible Assets

The  license   agreement  was  abandoned  in  accordance  with  FASB  Accounting
Codification  Standards 360-10-20 (previous guidance Statement of Accounting No.
144,  "Accounting  for the  Impairment  or Disposal of Long Lived  Assets")  and
consequently the remaining value of the asset was fully amortized as of December
31, 2010 and 2009.

Impairment of Long-Lived Assets

The Company  evaluates its long-lived  assets in accordance with FASB Accounting
Codification  Standards  360-10-20 by measuring  the carrying  amounts of assets
against the estimated  undiscounted  future cash flows  associated with them. At
the time  the  carrying  value of such  assets  exceeds  the fair  value of such
assets, impairment is recognized.

Incomes Taxes

The Company  accounts for income taxes under the liability  method of accounting
for  income  taxes  in  accordance   with  the  provisions  of  FASB  Accounting
Codification  Standards 740 - "Income Taxes"  (previous  guidance  Statements of
Financial  Accounting  Standards No. 109,  "Accounting  for Income Taxes," ("FAS
109") and related interpretations and guidance including FASB Interpretation No.
48,  "Accounting  for  Uncertainty  in Income  Taxes-an  interpretation  of FASB
Statement  No. 109" ("FIN 48")).  Deferred  income taxes are provided  using the
liability  method  whereby  deferred tax assets are  recognized  for  deductible
temporary  differences  and  operating  loss and tax credit  carry-forwards  and
deferred tax  liabilities  are  recognized  for taxable  temporary  differences.
Temporary differences are the differences between the reported amounts of assets
and  liabilities  and their tax bases.  Deferred  tax  assets  are  reduced by a
valuation  allowance when, in the opinion of management,  it is more likely than
not that some  portion or all of the  deferred  tax assets will not be realized.
Deferred tax assets and  liabilities are adjusted for the effects of the changes
in tax laws and rates of the date of enactment.

When tax returns are filed, it is highly certain that some positions taken would
be  sustained  upon  examination  by the taxing  authorities,  while  others are
subject to  uncertainty  about the merits of the position taken or the amount of
the position that would be ultimately  sustained.  The benefit of a tax position
is recognized in the financial  statements in the period during which,  based on
all available evidence,  management believes it is more likely than not that the
position will be sustained upon examination, including the resolution of appeals
or  litigation  processes,  if  any.  Tax  positions  taken  are not  offset  or
aggregated    with   other    positions.    Tax   positions    that   meet   the
more-likely-than-not recognition threshold are measured as the largest amount of
tax  benefit  that is  more  than 50  percent  likely  of  being  realized  upon
settlement  with the applicable  taxing  authority.  The portion of the benefits
associated  with tax  positions  taken  that  exceeds  the  amount  measured  as
described above is reflected as a liability for unrecognized tax benefits in the
accompanying balance sheet along with any associated interest and penalties that
would be payable to the taxing authorities upon examination.

Interest and penalties  associated with unrecognized tax benefits are classified
as additional income taxes in the statement of income.

                                      F-10
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

Translation of Non-U.S. Currency Amounts

Assets and liabilities of non-U.S. subsidiaries that operate in a local currency
environment are translated to U.S.  dollars at year-end  exchange rates.  Income
and  expense  items  are  translated  at  weighted-average   rates  of  exchange
prevailing  during  the year.  Translation  adjustments  are  recorded  in Other
Comprehensive  Income  not  affecting  retained  earnings  within  Stockholders'
equity.

Inventories,   plant,  rental  machines  and  other   property-net,   and  other
non-monetary  assets and liabilities of non-U.S.  subsidiaries and branches that
operate in U.S. dollars, or whose economic  environment is highly  inflationary,
are  translated  at  approximate  exchange  rates  prevailing  when the  company
acquired  the  assets or  liabilities.  All other  assets  and  liabilities  are
translated  at  year-end  exchange  rates.  Cost of sales and  depreciation  are
translated at historical  exchange rates. All other income and expense items are
translated at the weighted-average rates of exchange prevailing during the year.

Current and historical exchange rates are not indicative of what future exchange
rates will be and should not be construed as such.

Relevant  exchange rates used in the preparation of the financial  statements of
the  subsidiary  are as  follows  for years  ended  December  31,  2010 and 2009
(denoted in Hong Kong dollars per one U.S. dollar):

                                                     2010          2009
                                                    -------       -------
     Current exchange rate at December 31, HKD      7.78320       7.75510
     Weighted average exchange rate                 7.76952       7.75218

Fair Value of Financial Instruments

The carrying amounts of cash, accounts payable, and accrued expenses approximate
fair value because of the short maturity of these items.

Loss per Common Share

Basic  net loss per  share is  computed  by  dividing  net loss by the  weighted
average number of shares of common stock outstanding during the period.  Diluted
net loss per share is  computed  by dividing  net loss by the  weighted  average
number of shares of common stock and common stock equivalents outstanding during
the period.  As the Company  resulted in net income for the year ended  December
31, 2010,  common stock  equivalents  were  included from diluted net income per
share. However, as the Company incurred net loss for the year ended December 31,
2009,  common stock equivalents were excluded from diluted net loss per share as
their effect would be anti-dilutive.

Stock-Based Compensation

FASB Accounting  Codification  Standards (ACS) Topic 825,  "Compensation - Stock
Compensation"  (previous  guidance  Statement of Accounting  Standards  SFAS No.
123R,  "Share-Based  Payment")  requires all share-based  payments to employees,
including  grants of employee  stock options to be  recognized  as  compensation
expense in the financial  statements based on their fair values. That expense is
recognized  over the period  during  which an  employee  is  required to provide
services  in  exchange  for the award,  known as the  requisite  service  period
(usually the vesting period). During years ended December 31, 2010 and 2009, the
Company  did  not  recognize  any  of  compensation   expense   associated  with
stock-based compensation.  Under FASB ACS Topic 825, the expense recognition for
variable  awards  is the same  under  the  intrinsic  value  and the fair  value
methods.

                                      F-11
<PAGE>
Recent Accounting Pronouncements

In February  2010,  the FASB issued  guidance to remove the  requirement  for an
entity that files  financial  statements with the SEC to disclose a date through
which  subsequent  events have been  evaluated.  The  adoption of this  guidance
during our current  fiscal  quarter did not have any impact on our  Consolidated
Financial Statements.

On July 1,  2009,  Financial  Accounting  Standards  Board  ("FASB")  Accounting
Standards  Codification(TM)  ("ASC")  became  the sole  source of  authoritative
Generally Accepted Accounting  Principles ("GAAP") literature  recognized by the
Financial Accounting Standards Board for financial statements issued for interim
and annual  periods  ending after  September  15, 2009.  Rules and  interpretive
releases of the Security Exchange  Commission ("SEC") under authority of federal
securities  laws are also  sources of  authoritative  GAAP for SEC  registrants.
Except  for  applicable  SEC  rules  and  regulations  and a  limited  number of
grandfathered  standards, all other sources of GAAP for nongovernmental entities
were  superseded  by the issuance of ASC.  ASC did not change  GAAP,  but rather
combined the sources of GAAP and the framework for selecting among those sources
into a single  source.  Accordingly,  the  adoption  of ASC had no impact on the
financial results of the Company.

In  June  2009,  the  FASB  issued  FAS  168,  "The  FASB  Accounting  Standards
Codification  and the Hierarchy of Generally  Accepted  Accounting  Principles,"
which now resided with ASC 105, "Generally Accepted Accounting  Principles." ASC
105 will become the source of authoritative U.S.  generally accepted  accounting
principles  (GAAP)  recognized  by the  FASB to be  applied  by  nongovernmental
entities.  Rules  and  interpretive  releases  of the  Securities  and  Exchange
Commission (SEC) under authority of federal  securities laws are also sources of
authoritative GAAP for SEC registrants. On the effective date of this Statement,
the  Codification  will  supersede  all  then-existing  non-SEC  accounting  and
reporting standards.  All other non-grandfathered  non-SEC accounting literature
not included in the Codification will become  non-authoritative.  This statement
is effective  for  financial  statements  issued for interim and annual  periods
ending after September 15,  2009.The  Company expects the adoption of ASC 105 to
have an impact on the Company's  results of operations,  financial  condition or
cash flows.

In June 2009, the FASB issued FAS 167,  "Amendments to FASB  Interpretation  No.
46(R)," which now resides with ASC 810,  "Consolidation." ASC 810 is intended to
(1) address  the effects on certain  provisions  of FASB  Interpretation  No. 46
(revised  December 2003),  Consolidation  of Variable  Interest  Entities,  as a
result of the  elimination of the qualifying  special-purpose  entity concept in
ASC 860,  and (2)  constituent  concerns  about the  application  of certain key
provisions of Interpretation 46(R),  including those in which the accounting and
disclosures  under the  Interpretation  do not always provided timely and useful
information  about an enterprise's  involvement in a variable  interest  entity.
This statement  must be applied as of the beginning of each  reporting  entity's
first annual  reporting  period that begins after November 15, 2009. The Company
expects the  adoption of ASC 810 to have an impact on the  Company's  results of
operations, financial condition or cash flows.

In June  2009,  the FASB  issued  FAS  140/166,  "Accounting  for  Transfers  of
Financial  Assets," an  amendment  of FAS 140,  which now resides  with ASC 860,
"Transfers  and  Servicing."  ASC 860 is  intended  to  improve  the  relevance,
representational  faithfulness,  and  comparability  of the  information  that a
reporting  entity  provides  in its  financial  statements  about a transfer  of
financial assets: the effects of a transfer on its financial position, financial
performance , and cash flows: and a transferor's continuing involvement, if any,
in  transferred  financial  assets.  This  statement  must be  applied as of the
beginning of each reporting  entity's first annual  reporting period that begins
after November 15, 2009. The Company  expects the adoption of ASC 860 to have an
impact on the  Company's  results of  operations,  financial  condition  or cash
flows.

In May 2009,  the FASB issued FAS 165,  "Subsequent  Events,"  which now resides
with ASC 855, "Subsequent Events." This pronouncement  establishes standards for
accounting  for and disclosing  subsequent  events (events which occur after the

                                      F-12
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

balance sheet date but before  financial  statements are issued or are available
to be  issued).  ASC 855  requires  and entity to disclose  the date  subsequent
events  were  evaluated  and  whether  that  evaluation  took  place on the date
financial statements were issued or were available to be issued. It is effective
for interim and annual  periods  ending after June 15, 2009. The adoption of ASC
855 did not have a  material  impact on the  Company's  financial  condition  or
results of operation.

Note 2: Material Events

Amendment of the conversion rates of the convertible promissory notes

On February  27, 2009,  the Company  amended the  conversion  feature of certain
promissory notes. The original conversion features are summarized in Note 4. The
amended conversion feature states that at any time, the Payee may convert all or
part of the remaining  principal balance and accrued interest into shares of the
Company's  Common Stock based on 75% of the average of the twenty closing prices
in the past 20 trading days  immediately  preceding  such  conversion so long as
such conversions shall not exceed 4.99% of the then outstanding  common stock of
the Company.

Amendment of the conversion rates of the convertible promissory notes

On July 10,  2009,  the Company  made the decision to rescind the Stock Sale and
Purchase  Agreement that signed with Wuhan Interpower Co. Ltd on April 17, 2008.
The Company  believes  that the decision  was made for the best  interest of the
company and the investors.  The Company has requested that Wuhan Interpower Co.,
Ltd.  immediately refund the US$161,500.  According to the correspondence  being
exchanged recently,  as of July 31, 2009, Wuhan Interpower Co., Ltd. has neither
agreed to fully refund of US$161,500  nor refused to do so,  despite our several
requests in writings.  The Company is going to seek legal assistance in China to
recover the said amount plus interest.

In November,  2009, Wuhan Interpower Co., Ltd agreed to pay 50%, $80,750, of the
investment  deposit back to the Company.  In  considering  the cost  involved in
lawsuit or  arbitration  in China,  the Company has  accepted  this  settlement.
Accordingly, the loss on investment increased by $80,750 in the current year and
the  investment  deposit  decreased  to  $80,750.  The return of the deposit was
received in December, 2009.

Amendment on the article of incorporation to increase the authorized shares

The Company had  authorized  capital stock of  2,000,000,000  shares,  including
1,950,000,000  shares of Common Stock and 50,000,000  shares of Preferred Stock.
On August  10,  2009,  our Board of  Directors  and the  shareholders  holding a
majority  of the voting  rights in the  Company  approved  an  amendment  to the
Articles of  Incorporation  to increase the number of outstanding  shares of our
capital stock to 4,000,000,000  including  3,950,000,000  shares of Common Stock
and 50,000,000 shares of Preferred Stock.
New business venture

On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with
FHH Sino New Energies  CO.,  Ltd.,  a Chinese  company  ("FHH Sino")  located in
Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that
offers  petroleum  storage  tanks and  facilities  for  rental to the  petroleum
importers/exporters  in Weihai, a coastal city in Shandong  Province of Northern
China.  Upon signing the Letter of Intent on May 27, 2010 (effective  date), FHH
Sino made a U.S. $230,000 deposit with the Company.

The Company  intends to merge with FHH Sino by exchanging  the Company's  common
stock with FHH Sino's holding or subsidiary  company.  This merger will give the

                                      F-13
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

Company the opportunity to switch its nature of business into the energy sector,
the ability to  generate  revenue  and profit  once the FHH Sino  commences  its
operation in early 2011, thus benefits our shareholders in the near future.

Note 3: Going Concern

The Company's  financial  statements  are prepared using  accounting  principles
generally  accepted  in the  United  States  of  America  applicable  to a going
concern,  which  contemplates  the  realization  of assets and  satisfaction  of
liabilities in the normal course of business.  The Company's  continuation  as a
going  concern is dependent  upon its ability to generate  sufficient  cash flow
from  operations  to meet  its  obligations  on a  timely  basis  and/or  obtain
financing as may be required.  As of December 31, 2010, the Company has incurred
net income from operations  prior to reentering the development  stage and has a
stockholders'  deficit of  $5,534,336.  Since the  inception of  reentering  the
development  stage on April 1, 2007, the Company has a stockholders'  deficit of
$7,080,130 as of December 31, 2010. The Company has a working capital deficit of
$2,377,071 as of December 31, 2010. These factors raise  substantial doubt about
the Company's ability to continue as a going concern.

During the next 12 months,  the Company's  foreseeable  cash  requirements  will
relate to continual  development of the operations of its business,  maintaining
its good  standing  and making the  requisite  filings with the  Securities  and
Exchange  Commission,  and the payment of expenses  associated with reviewing or
investigating any potential business ventures. The Company may experience a cash
shortfall  and be required to raise  additional  capital.  Historically,  it has
relied  upon  internally  generated  funds and funds  from the sale of shares of
stock and loans from its  shareholders  and  private  investors  to finance  its
operations and growth.  Management may raise  additional  capital through future
public or private offerings of the Company's stock or through loans from private
investors,  although  there can be no  assurance  that it will be able to obtain
such financing. The Company's failure to do so could have a material and adverse
affect upon it and its shareholders.

The Company has entered into  negotiation  with a private owned company in China
for a  possible  merger  and  joint  venture  and will  announce  the  terms and
condition of such merger or joint venture if the  transaction  proceeds and when
there is a signed LOI, MOU or a binding agreement.

In the past year, the Company funded operations through investor's deposit.  For
the coming year, the Company plans to continue to fund the Company  through debt
and securities sales and issuances,  focus on a possible joint venture or merger
until the  company  generates  revenues  through the  operations  of such merged
company or joint venture as stated above.

Note 4: Notes Payable & Debt Discounts

The chart below  summarizes the Notes Payable & Debt Discounts of the Company as
of December 31, 2010.  The Company is  technically  in default on its promissory
notes to the persons or entities detailed hereafter, most of which notes matured
on December 31, 2009. The Company is currently  working with the note holders to
restructure the terms of such notes and extend the maturity dates.  The interest
rate for these loans will be at 12% in 2010 since they were  default at the year
end.

                                      F-14
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

Terms                                                                     Amount
-----                                                                     ------
SHORT TERM NOTES PAYABLE TO SHAREHOLDERS:
     12% Interest;  principal of $6,597; convertible to common stock
     based  on  75%  of  average  price;  due  on  9/3/2009,  net of
     unamortized discount related to the debt discount of $0            $  6,597
     12% Interest;  principal of $293;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0               293
     12% Interest; principal of $11,000; convertible to common stock
     based  on 75%  of  average  price;  due  on  10/9/2009,  net of
     unamortized discount related to the debt discount of $0              11,000
     12% Interest; principal of $31,925; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      31,925
     12% Interest; principal of $10,269; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      10,269
     12% Interest; principal of $12,500; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              12,500
     12% Interest; principal of $15,000; convertible to common stock
     based  on  75%  of  average  price;  due  on  8/1/2009,  net of
     unamortized discount related to the debt discount of $0              15,000
     12%  Interest;  principal of $17;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0                  17
     12%  Interest;  principal  of $5;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0                 5
     12% Interest;  principal of $231;  convertible  to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0                 231
     12% Interest;  principal of $9,458; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0             9,458
     12% Interest; principal of $37,133; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      37,133
     12% Interest;  principal of $5,000; convertible to common stock
     based  on 75% of  average  price;  due  on  10/28/2009,  net of
     unamortized discount related to the debt discount of $0               5,000
     12% Interest; principal of $10,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discount  related to the debt  discount  of $3,271      10,000
     12% Interest; principal of $13,000; convertible to common stock
     based  on  75%  of  average  price;  due  on  8/1/2009,  net of
     unamortized discount related to the debt discount of $0              13,000
     12% Interest;  principal of $7,209; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0             7,209
     12% Interest; principal of $23,847; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      23,847

                                      F-15
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

     12% Interest; principal of $20,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              20,000
     12% Interest; principal of $25,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              25,000
     12% Interest; principal of $70,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              70,000
     12% Interest; principal of $36,867; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized  discounted  related  to the  debt  discount  of $0      36,867
     12% Interest; principal of $73,975; convertible to common stock
     based  on  75%  of  average  price;  due  on  7/1/2009,  net of
     unamortized discount related to the debt discount of $0              73,975
     12% Interest;  principal of $1,112; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discounted related to the debt discount of $0             1,112
     12% Interest; principal of $10,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              10,000
     12% Interest; principal of $15,000; convertible to common stock
     based  on 75% of  average  price;  due  on  10/29/2009,  net of
     unamortized discount related to the debt discount of $0              15,000
     12% Interest; principal of $50,240; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              50,242
                                                                        --------
TOTAL SHORT TERM NOTES PAYABLE TO SHAREHOLDERS                          $495,679
                                                                        ========
SHORT TERM NOTES PAYABLE:
     12% Interest; principal of $50,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              50,000
     12% Interest; principal of $50,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              50,000
     12% Interest; principal of $15,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              15,000
     12% Interest; principal of $10,000; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              10,000
     12% Interest; principal of $20,500; convertible to common stock
     based  on 75% of  average  price;  due  on  12/31/2009,  net of
     unamortized discount related to the debt discount of $0              20,500
                                                                        --------
TOTAL SHORT TERM NOTES PAYABLE                                          $145,500
                                                                        ========

Note 5: Related Party Transactions

Accrued Expenses

During the year ended  December 31, 2010 and December 31, 2009, the accrued wage
and  reimbursement  to the officer related to traveling  overseas was $6,022 and
$41,124 respectively. The payable to the related party was $352,382 and $207,321
at December 31, 2010 and December 31, 2009, respectively.

                                      F-16
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

During the year ended  December 31,  2010,  the officer  advanced $22,500 to the
Company for working  capital.  At December 31,  2010,  there is $15,297 due from
this officer. This non-interest bearing advance is due on demand. The payroll to
the officer was  $240,000  for the year ended  December  31,  2010.  The accrued
payroll was $347,085 at December 31, 2010.

Stock Issuance

During the year ended  December 31, 2009,  the Company  issued  50,000 shares of
preferred  stock  series D at $1 per  share  to the  director  for the  director
service fee. See Note 6 - Stockholders' Equity.

During the year ended December 31, 2009, an officer  purchased  1,000,000 shares
of  preferred  stock  series C at $0.001 per share.  See Note 6 -  Stockholders'
Equity.

During the year ended  December 31, 2010,  the Company  issued  50,000 shares of
preferred  stock  series D at $1 per  share  to the  director  for the  director
service fee. See Note 6 - Stockholders' Equity.

During the year ended December 31, 2010, an officer  purchased  1,000,000 shares
of  preferred  stock  series C at $0.001 per share.  See Note 6 -  Stockholders'
Equity.

Note 6: Stockholders' Equity

PREFERRED STOCK

Amendments to Series D, E, and F Preferred Stock

On April 20, 2009,  amendments were made to the market price for series D, E and
F preferred stock. The market price shall be computed as the arithmetic  average
of the 20  closing  prices  for such  security  during  the last 20  consecutive
trading  days  immediately  preceding  such  date  of  determination.  All  such
determinations to be appropriately adjusted for any stock dividend,  stock split
or other similar transaction during such period.

On April 20, 2009, the Company issued 50,000 shares of Series D Preferred Stock
at $50,000 in exchange for cash.

On August 6, 2009, the Company issued 50,000 shares of Series D Preferred Stock
at $50,000 in exchange for cash.

On September 21, 2009, the Company issued 22,500 shares of Series D Preferred
Stock at $22,500 in exchange for cash.

On September  30, 2009,  the Company  issued 50,000 shares of Series D Preferred
Stock at $50,000 for the director service fee.

On January 13, 2010,  First Apex Management  Limited  converted 12,320 shares of
Preferred  D  Stock  into  88,000,000  shares  of  Common  Stock  at a  $0.00014
conversion price on November 2, 2009.

On April 23, 2010, CEPA Group Pacific  Holdings Ltd.  converted 12,320 shares of
Preferred  D  Stock  into  88,000,000  shares  of  Common  Stock  at a  $0.00014
conversion price as of April 15, 2010.

On June 7, 2010,  Jade C. Uno converted  20,000 shares of Preferred D Stock into
105,263,157 shares of Common Stock at a $0.00019 conversion price based upon the
20-day trading average of the Company.

                                      F-17
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

On July 28,  2010,  First  Apex  Management  Ltd.  exchanged  22,500  shares  of
Preferred  D Stock  valued at $1.00 per share into  90,000,000  shares of Common
Stock at a $0.00025 conversion price.

On July 28, 2010, CEPA Group Pacific  Holdings Ltd.  exchanged  12,680 shares of
Preferred  D Stock  valued at $1.00 per share into  50,720,000  shares of Common
Stock at a $0.00025 conversion price.

On August 13,  2010,  First Apex  Management  Ltd.  purchased  20,000  shares of
Preferred  D Stock  valued  at $1.00  per  share  for a total  consideration  of
$20,000.

On August 13, 2010, CEPA Group Pacific Holdings Ltd.  purchased 20,000 shares of
Preferred  D Stock  valued  at $1.00  per  share  for a total  consideration  of
$20,000.

On August 13, 2010, Ms. Chen Yunxia purchased 20,000 shares of Preferred D Stock
valued at $1.00 per share for a total consideration of $20,000.

On August 31, 2010,  Jade C. Uno  exchanged  15,000  shares of Preferred D Stock
valued at $1.00 per share into  65,217,391  shares of Common Stock at a $0.00023
conversion price.

On October 5, 2010,  Kenneth  Yeung  purchased  1,000,000  shares of Preferred C
Stock at $0.001 per share.

On October 26, 2010,  First Apex  Management  Ltd.  exchanged  12,680  shares of
Preferred  D Stock  valued at $1.00 per share into  84,533,333  shares of Common
Stock at a $0.00015 conversion price.

On November 15, 2010,  the Company  issued  50,000  shares of Series D Preferred
Stock at $50,000 to Peter Chin as  director  service fee for  services  rendered
from September 30, 2009 through September 30, 2010.

On November 23, 2010,  Peter Chin  exchanged  15,000 shares of Preferred D Stock
valued at $1.00 per share into 115,384,615  shares of Common Stock at a $0.00013
conversion price.

COMMON STOCK

During  the  year  ended  December  31,  2010,  the  Company  issued  a total of
1,962,770,393  shares of common stock  valued at $198,116 for  repayment of debt
and $122,500 for  conversion  from  Preferred D Stock  detailed in the following
chart:

<TABLE>
<CAPTION>
                      Number of          Aggregate
Date of Issue       Shares Issued       Sales Price              Nature of Transaction
-------------       -------------       -----------              ---------------------
<S>                 <C>                 <C>                 <C>
 1/13/2010           88,000,000          $ 12,320          In exchange of Preferred D Stock
 1/20/2010          120,000,000          $ 13,080          In exchange for debt repayment
 4/23/2010           88,000,000          $ 12,320          In exchange of Preferred D Stock
  5/4/2010          130,000,000          $ 12,220          In exchange for debt repayment
 5/17/2010          132,490,203          $ 10,930          In exchange for debt repayment
 5/28/2010          139,101,464          $ 11,998          In exchange for debt repayment
  6/7/2010          105,263,157          $ 20,000          In exchange of Preferred D Stock
  6/9/2010          154,000,000          $ 16,786          In exchange for debt repayment
 6/22/2010          146,786,064          $ 35,229          In exchange for debt repayment
 7/21/2010           90,427,769          $ 22,697          In exchange for debt repayment
 7/28/2010           90,000,000          $ 22,500          In exchange of Preferred D Stock
 7/28/2010           50,720,000          $ 12,680          In exchange of Preferred D Stock
 8/23/2010          151,298,410          $ 38,013          In exchange for debt repayment
 8/31/2010           53,832,943          $ 10,642          In exchange for debt repayment
</TABLE>

                                      F-18
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

<TABLE>
<CAPTION>
<S>                 <C>                 <C>                 <C>
 8/31/2010           65,217,391          $ 15,000          In exchange of Preferred D Stock
  9/1/2010           15,359,630          $  3,744          In exchange for debt repayment
10/26/2010           84,533,333          $ 12,680          In exchange of Preferred D Stock
11/17/2010            7,687,719          $  1,096          In exchange for debt repayment
11/17/2010            2,320,966          $    337          In exchange for debt repayment
11/17/2010            2,248,483          $    326          In exchange for debt repayment
11/17/2010          130,098,246          $ 18,539          In exchange for debt repayment
11/23/2010          115,384,615          $ 15,000          In exchange of Preferred D Stock
    Total         1,962,770,393          $320,616
</TABLE>

On August 10, 2009, the Company's Board of Directors and shareholders  holding a
majority of voting rights approved an amendment to the Articles of Incorporation
to  increase  the  number  of  outstanding   shares  of  the  capital  stock  to
4,000,000,000  including  3,950,000,000  shares of Common  Stock and  50,000,000
shares of Preferred Stock.

On October 1, 2010,  the Company has increased its  authorized  shares of Common
Stock to 5,950,000,000 shares.

Note 7: Income Taxes

The Company  and its  subsidiaries  file income tax returns in the U.S.  Federal
Jurisdiction,  and various  states and foreign  jurisdictions.  No provision for
Hong Kong Profits Tax has been made for the periods presented as the Company and
its  subsidiaries  operating in Hong Kong have no assessable  profits during the
years being reported.

The Company believes sufficient  uncertainty exists regarding the realization of
net operating loss  carry-forwards  and other timing differences for the periods
presented.  Accordingly,  a valuation allowance has been provided for the entire
amount  related  thereto.  The valuation  allowance  increased by  approximately
$129,450  and  $156,644  during  the years  ended  December  31,  2010 and 2009,
respectively.

The income tax  provision  differs from the amount of income tax  determined  by
applying the U.S. Federal and State income tax rates of 39% to pretax income for
the years ended December 31, 2010 and 2009 due to the following:

                                                    Year Ended December 31,
                                               -------------------------------
                                                  2010                 2009
                                               ----------           ----------
Book income                                    $  285,060           $ (753,293)
Change in derivative liability                   (508,454)             (12,532)
Stock for services/option expense                  19,500               19,500
Related party accrual expenses                     73,214               77,512
Amortization of beneficial conversion
feature                                             1,087              511,980
Other                                                 189                 (189)
Valuation Allowance                               129,450              156,644
                                               ----------           ----------
Total Income tax provision                     $       --           $       --
                                               ==========           ==========

At December 31,  2010,  the Company had net  operating  loss  carry-forwards  of
approximately  $3,900,000  that may be offset against future taxable income from
the year 2010 through 2030. No tax benefit has been reported in the December 31,

                                      F-19
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

2010 consolidated financial statements since the potential tax benefit is offset
by a valuation allowance of the same amount.

Due to the change in  ownership  provisions  of the Tax Reform Act of 1986,  net
operating  loss  carry-forwards  for Federal  income tax reporting  purposes are
subject to annual limitations. Should a change in ownership occur, net operating
loss carry-forwards may be limited as to use in future years.

Net deferred tax assets  consist of the following  components as of December 31,
2010 and 2009:

                                                  Year Ended December 31,
                                            -----------------------------------
                                                2010                   2009
                                            ------------           ------------
Deferred tax assets:
  NOL carryover                             $  1,463,000           $  1,378,500
  Accrued expenses - related party               180,336                107,122
Deferred tax liabilities
  Depreciation
                                            ------------           ------------
Valuation Allowance                           (1,643,336)            (1,485,622)
                                            ------------           ------------
Total Income tax provision                  $         --           $         --
                                            ============           ============

The Company files income tax returns in the United States  federal  jurisdiction
and certain states in the United States and certain foreign jurisdictions.  With
a few exceptions,  the company is no longer subject to U. S. federal,  state, or
non-U.S.  Income tax  examination by tax authorities on tax returns filed before
January 31, 2006. The Company  recently filed an extension for the U. S. Federal
return for the year ended December 31, 2010. The company has filed its 2009 U.S.
Federal return.  These U. S. federal returns are considered open tax years as of
the  date  of  these  consolidated  financial  statements.  No tax  returns  are
currently under examination by any tax authorities.

Note 8: Acquisitions and Investments

Acquisition of Wuhan Wufeng Machinery Manufacturing Company, Ltd.

On April 16, 2008, the Company entered into a definitive  agreement to acquire a
92% interest in Wuhan Wufeng Machinery  Manufacturing  Company, Ltd. ("Machinery
Co.")  from  Wuhan  Intepower  Company,  Ltd.,  a China  Corporation  ("Seller")
pursuant  to a Stock  Sale  and  Purchase  Agreement.  After  transferring  a 4%
interest to certain  management  personnel of the  Machinery Co. at the close of
the  transaction,  the  Company  would have owned a net  interest  of 88% of the
equity securities of the Machinery Company.  The closing of this acquisition was
to occur as soon as the audit of the books and accounts of the Machinery Co. was
completed  to  the  satisfaction  of  the  Company  and  requisite  governmental
approvals  are  obtained.  On June 24,  2008,  the  Company  received  requisite
governmental  approvals  to proceed with this  transaction  and during the third
quarter,  the Company  engaged PCAOB approved SEC auditors Albert Wong & Company
to perform the audit of the  Machinery  Company.  As of December 31,  2008,  the
Company had paid the 10% cash down payment on the  acquisition.  The convertible
notes  for the  balance  of the  acquisition  was to be  finalized  pending  the
completion of the audit.

The Machinery Co. offered several lines of machineries and equipments  which can
be retooled to manufacture  the panel  production  machineries  that the Company
would  endeavor  to sell and  utilize in several  planned  projects in China and
other  countries.  The  Machinery  Co.  currently  has  state of the art  tools,
experienced engineers,  capability to design new lines of equipment,  as well as
strong customer service and after-sales support.

                                      F-20
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

The purchase  consideration  to be paid by the Company to the Seller was to have
been approximately U.S.  $1,500,000,  consisting of cash for 10% of the purchase
consideration,  and three (3)  Convertible  Promissory  Notes  representing  the
balance of the purchase consideration.  At the Seller's option the notes were to
be convertible  into shares of the Company's  common stock at a value equivalent
to the notes.

However,  on July 10,  2009,  the Company made the decision to rescind the Stock
Sale and Purchase Agreement.  The Company believes that the decision was made in
the best interest of the Company and the investors.  The Company  requested that
Wuhan  Interpower Co., Ltd.  immediately  refund the US$161,500  advanced by the
Company to Wuhan Interpower Co., Ltd.

In November,  2009, Wuhan Interpower Co., Ltd agreed to pay 50%, $80,750, of the
investment  deposit back to the Company.  In  considering  the cost  involved in
lawsuit or arbitration in China,  the Company decided to accept this settlement.
Accordingly,  the loss on investment  increased by $80,750 in the current period
and the investment deposit decreased to $80,750.  Wuhan Interpower Co., Ltd paid
the Company back the deposit of $80,750 in December 2009.

Merger with FHH Sino New Energies Co., Ltd.

On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with
FHH Sino New Energies  CO.,  Ltd.,  a Chinese  company  ("FHH Sino")  located in
Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that
offers  petroleum  storage  tanks and  facilities  for  rental to the  petroleum
importers/exporters  in Weihai, a coastal city in Shandong  Province of Northern
China.  Upon signing the Letter of Intent on May 27, 2010 (effective  date), FHH
Sino made a U.S. $230,000 deposit with the Company.

The Company  intends to merge with FHH Sino by exchanging  the Company's  common
stock with FHH Sino's holding or subsidiary  company.  This merger will give the
Company the opportunity to switch its nature of business into the energy sector,
the ability to  generate  revenue  and profit  once the FHH Sino  commences  its
operation in early 2011, thus benefits our shareholders in the near future.

Note 9: Derivative Liability

As of December 31,  2010,  the common  stock  equivalents  of the Company on all
convertible  debentures  and  preferred  stock  exceeded  the total common stock
available for issuance by approximately by 28,404,512,818  shares. The Company's
Chief  Executive  Officer,  Kenneth  Yeung,  hold  3,000,000  shares of Series C
Preferred Stock that are convertible  into  26,373,626,374  common shares of the
Company.

Unless and until there is enough  authorized common stock available to cover all
common  stock  equivalents,  Mr.  Yeung will not  convert  any of his  preferred
shares. Furthermore, the stock is only convertible upon management's discretion.
Management  currently does not intend on converting  such stock.  Also,  warrant
options are not included in common stock equivalents since the exercise price of
$0.25 for the warrant is more than the fair value of common stock of $0.0004 per
share  on  December  31,  2010.  The  remaining   common  stock   equivalent  of
2,030,886,444  shares  has  been  accounted  for  as  a  derivative   liability.
Accordingly,  the excess  common stock  equivalents  exceeding  the total common
stock  available  for issue is marked to market  through  earnings at the end of
each  reporting  period.  Utilizing the  Black-Scholes  valuation  model and the
following  assumptions:  estimated  volatility of 479.95%, a contractual life of
approximately  a year, a zero  dividend  rate,  0.29% risk free  interest  rate,
exercise price of $0.00023957  and the fair value of common stock of $0.0004 per
share as of December 31, 2010,  the Company  determined the allocated fair value

                                      F-21
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

of the derivative  liability.  The Company  reflected an income of $1,303,727 in
the year ended December 31, 2010 to adjust the derivative  liability to $802,102
as of December 31, 2010,  representing  the initial fair value of excess  common
stock equivalents exceeding the total common stock available for issuance.

                                                  Year ended        Year ended
                                                  December 31,      December 31,
                                                     2010              2009
                                                 ------------      ------------
Opening balance at January 1, 2010 and           $  2,105,829      $  2,137,962
 January 1, 2009
Change in fair value of derivative liabilities     (1,303,727)          (32,133)
                                                 ------------      ------------
Closing balance at September 30, 2010            $    802,102      $  2,105,829
                                                 ============      ============

Total gain included in the statement
 of operations for the change in fair
 value of derivative liability                   $    802,102      $     32,133
                                                 ============      ============

Note 10: Commitments and Contingencies

Litigation

As of December 31, 2010 there was no  threatened or pending  litigation  against
the Company.

Note 11: Stock Options and Warrants

Warrants

The Company  issued  warrants in  connection  with the  promissory  notes signed
during the year ended December 31, 2007. Each warrant gives the holder the right
to subscribe to and purchase from the Company one share of the Company's  common
stock,  par value of $0.001,  exercisable at $0.25 per share any time after date
of issuance and is set to expire five years after date of  issuance.  There were
no warrants granted during years ended December 31, 2010 and 2009.

The fair value of each warrant award is estimated on the date of grant using the
Black-Scholes  option  valuation  model that uses the  assumptions  noted in the
following  table.  Expected  volatilities  are  based on  volatilities  from the
Company's  traded  common stock.  The expected  term of the warrants  granted is
estimated at the contractual term as noted in the individual  option  agreements
and represents  the period of time that the warrants  granted are expected to be
outstanding.  The risk-free rate for the periods within the contractual  life of
the  option  is based on the U.S.  Treasury  bond  rate in effect at the time of
grant for bonds with maturity dates at the estimated term of the options.

                                                      Year Ended
                                                   December 31, 2010
                                                   -----------------

Expected volatility                                     479.975%
Weighted-average volatility                               30.16%
Expected dividends                                $          ---
Expected term (in years)                                      5
Risk-free rate                                     0.21% - 0.49%

                                      F-22
<PAGE>
                 INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                   Notes to the Condensed Financial Statements
                                December 31, 2010

The following  table  summarizes the warrants the Company issued as of the years
ended December 31, 2010 and 2009:

                                                           Weighted-
                                               Weighted-    Average
                                               Average     Remaining   Aggregate
                                    Warrant    Exercise   Contractual  Intrinsic
          Warrants                  Shares      Price        Term        Value
          --------                  ------      -----        ----        -----
Outstanding at December 31, 2009   2,104,000    $0.25          5       $128,931
Exercisable at December 31, 2009   2,104,000    $0.25          5       $128,931
Outstanding at December 31, 2010   2,104,000    $0.25          5       $128,931
Exercisable at December 31, 2010   2,104,000    $0.25          5       $128,931

Note 12: Subsequent events

Stock Issuances

The Company issued the following stock subsequent to December 31, 2010 and prior
to the filing of financial statements for the year ended December 31, 2010:

     *    On January 10, 2011,  50,000  shares of Preferred  Series D Stock were
          issued to Allied Consultants,  Inc. 401(K) Plan Trust for $1 per share
          with a total cash payment of $50,000.

Consulting Agreements

Duing the  fourth  quarter  of 2010,  the  Company  entered  into the  following
consulting agreements:

     *    On November 15, 2010, the Company has retained Mr. Cheng Kim Man Edwin
          as its  consultant  for  services to be provided  for six months.  The
          compensation shall be shares of Preferred Stock Series E equivalent to
          US$35,000 distributable at the end of six months on May 15, 2011.

     *    On November  15,  2010,  the Company has  retained Mr. Jack Sze as its
          consultant   for  services  to  be  provided   for  six  months.   The
          compensation shall be shares of Preferred Stock Series E equivalent to
          US$50,000 distributable at the end of six months on May 15, 2011.

     *    On November 15,  2010,  the Company has retained Mr. Tang Chong Yin as
          its  consultant  for  services  to be  provided  for six  months.  The
          compensation shall be shares of Preferred Stock Series E equivalent to
          US$80,000 distributable at the end of six months on May 15, 2011.

     *    On November 15, 2010,  the Company has retained Mr. Barry Grama as its
          consultant   for  services  to  be  provided   for  six  months.   The
          compensation shall be shares of Preferred Stock Series E equivalent to
          US$80,000 distributable at the end of six months on May 15, 2011.

Management has reviewed  material  subsequent events in accordance with FASB ASC
855 "Subsequent Events". No additional disclosures are required.

                                      F-23