UNITED
STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 10-Q/A Amendment No.
1 (Mark One) [X] QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 For the quarterly
period ended March 31, 2009 [   ]
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: 000-50530 SALAMON GROUP, INC. (Exact name of registrant as specified
in its charter)  Nevada
93-1324674(State or other
jurisdiction of incorporation or organization)
(I.R.S. Employer
Identification no.)4080
Paradise Road #15-901, Las Vegas, Nevada, USA
89169(Address of
principal executive offices)
(Zip
Code) (702)
241-0145(Registrant's telephone number, including area code) (Former name,
former address and former fiscal year, if changed since last report) Indicate by check
mark whether the registrant (1) filed all reports required to be filed by
Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the past 12
months (or for such shorter period that the registrant wasrequired 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 is a large accelerated filer, an accelerated filer,
a non-accelerated filer, or a smaller reporting company.  See the
definitions of large accelerated filer, accelerated filer and smaller
reporting company in Rule 12b-2 of the Exchange Act. Larger accelerated filer [  
]
Accelerated
filer                 
[   ]Non-accelerated
filer    [   ] (Do not check if a smaller
reporting company)
Smaller reporting company [X]  Indicate by check
mark whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act).  Yes [   ] No [X] Indicate the number
of shares outstanding of each of the issuers classes of common stock, as of the
latest practicable date.  As of May 13, 2009, the Issuer had
18,603,880 shares of common stock outstanding with a par value per share of
$0.001.       EXPLANATORY
NOTE This Amendment No. 1 on
Form 10-Q/A (this Amendment) amends the Registrants Quarterly Report on
Form 10-Q for the quarter ended May 19, 2009, which the Registrant
previously filed with the Securities and Exchange Commission on May 19, 2009
(the Original Filing).  The Registrant is filing this Amendment because
management became aware of certain deficiencies contained within the Original
Filing.  Item 2  Managements Discussion and Analysis of Financial
Condition and Results of Operations has been amended as follows: we have
provided a more detailed discussion of our results of operations and our plan of
operation.  Exhibit 31.1  has been amended to meet the requirements of the
form prescribed.  In addition, as required by Rule 12b-15 under the
Securities Exchange Act of 1934, new certifications by our principal executive
officer and principal financial officer are filed as exhibits to this Amendment
and apply to this filing and the Original Filing, as amended.  Except as
set forth below, the Original Filing has not been amended, updated or otherwise
modified.  Other events occurring after the filing of the Form 10-Q or
other disclosures necessary to reflect subsequent events have been addressed in
our reports filed with the Securities and Exchange Commission subsequent to the
filing of the Form 10-Q.      ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATION. The following
discussion of the financial condition, changes in financial condition and
results of operations of Salamon Group, Inc. (hereinafter referred to as the
Company, Salamon Group, we, our or
us) for the three months ended March 31, 2009 should be read in
conjunction with Salamon Groups unaudited financial statements and related
notes for the three months ended March 31, 2009. Cautionary
Statements Regarding Forward-Looking Statements This Form 10-Q includes
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934
(the Exchange Act), as amended.  All statements, other than
statements of historical facts, included in this Form 10-Q which address
activities, events or developments which we expect or anticipate will or may
occur in the future, including such things as future capital expenditures
(including the amount and nature thereof), business strategy, expansion and
growth of our business and operations, and other such matters are
forward-looking statements.  These statements are based on certain
assumptions and analyses made by Salamon Group in light of our experience and
our perception of historical trends, current conditions and expected future
developments as well as other factors we believe are appropriate in the
circumstances.  However, whether actual results or developments will
conform with our expectations and predictions are subject to a number of risks
and uncertainties, general economic market and business conditions; the business
opportunities (or lack thereof) that may be presented to and pursued by us;
changes in laws or regulation; and other factors, most of which are beyond our
control.  Consequently, all of the forward-looking statements made in this
Form 10-Q are qualified by these cautionary statements and there can be no
assurance that the actual results or developments anticipated by us will be
realized or, even if substantially realized, that they will have the expected
consequence to or effects on us or our business or operations.  We assume
no obligations to update any such forward-looking statements. Overview We were organized under the laws of
the State of Nevada on April 27, 2001.  We are a developmental stage
company organized by John E. Salamon.  Our aim is to develop, license
and/or acquire certain electrical generator technologies, which we believe to be
proprietary.  Our offices are presently located at 4080 Paradise Road
#15-901, Las Vegas, Nevada, USA 89169, and our telephone number is (702)
241-0145. Since our inception, we have been
involved in organizational and fund raising activities and the licensing,
subsequent acquisition and further development of a certain electrical generator
technology from Space Globe Technologies Ltd., a private British Columbia,
Canada corporation (Space Globe), founded and organized also by John
Salamon.  Space Globe was founded for the purpose of developing
technologies and concepts in the field of Alternative Energy Sources.
 Alternative Energy Sources are those which are not supplied by the burning
of fossil fuels or the splitting of atoms.  Some of the alternative energy
sources include solar energy, wind power, geothermal, tides and hydro power.
 Space Globe was incorporated in the Province of British Columbia, Canada
in 1998 by John Salamon.  It was initially established as a
management/consulting company in which to develop ideas and concepts for power
generation.  Space Globes primary assets consist of office equipment and
investments in us.  Effective June 29, 2007, in connection with our
acquisition of ownership and rights to certain patents and wireless EPG
technology from Space Globe, we no longer considered ourself a shell company
and our current operations are focused on developing and licensing such
technologies.  From 1999 to 2001 Space Globe and Mr. Salamon developed the
concept and design of an Electrical Power Generator (EPG) for home and
office use and for emergency power backup situations.  Mr. Salamon filed a
patent application in Canada on September 4, 2001 for protection of the design
of the EPG and on March 10, 2008, as requested by the Canadian Patent Office, we
filed additional information regarding this patent pending.  Mr. Salamon
filed a second patent application in Canada on May 12, 2006 and two more patent
applications later in 2006 for the protection of designs related to wireless
EPGs. We were formed by Mr. Salamon for
the purpose of pursuing his business plan of developing technologies and
concepts in the field of Alternative Energy Sources in a
newly established Nevada corporation.  All transactions described below
between us and Space Globe were incidental to the transfer of assets to us in
connection with the reorganization of these two entities under Mr. Salamons
common control. On July 5, 2001, we entered into a
Technology License Agreement with Space Globe whereby we agreed to pay $50,000
cash and issued 5,000,000 shares of common stock to Space Globe as license fees
for the technology related to the EPG.  The cost of the license was
determined to be at an estimated cost of research and development time and
materials expended by Space Globe for the development of the EPG.  The
5,000,000 shares issued in connection with such Technology License Agreement
were issued pursuant to Section 4(2) of the Act at an estimated fair value of
$5,000 and the cash was subsequently paid from proceeds of our private
placements. On January 10, 2005, we replaced the
license agreement with Space Globe with an agreement under which Space Globe
transferred 100% ownership of and rights to the EPG technology, protected by the
2001 patent application, to us for no additional compensation.  John
Salamon, through Space Globe, also assigned all rights to the patent pending to
us.  On September 30, 2007, we amended the agreement with Space Globe such
that John Salamon retains a 1% interest in the patent application.   In addition to the foregoing
issuances, from April 2001 through December 31, 2008, we received gross proceeds
of $441,043 (including $103,000 in cash, conversion of $264,193 of amounts due
to a related party, and services valued at $73,850) from the issuance of a total
of 8,103,880 shares of common stock in offerings conducted pursuant to Section
4(2) of the Act and Regulation S.  These offerings were made in the
Provinces of British Columbia and Alberta, Canada. On June 29, 2007, we entered into an
assignment agreement with Space Globe whereby Space Globe transferred to us its
ownership of and rights to the wireless EPG technology, including Space Globes
99% interest in the three 2006 patent applications, in consideration for the
issuance of 4,500,000 shares of common stock to Space Globe (or 1,500,000 shares
for each of the three patents applications) at a value of $0.07 per share, the
estimated fair value of the shares on the date of the transaction. John Salamon,
who filed the three patent applications, retains a 1% interest in the patents
pending.  The value of the technology was determined to be at an estimated
cost of research and development time and materials expended by Space Globe for
the development of the wireless EPG.  The 4,500,000 shares issued in
connection with the assignment agreement were issued pursuant to Section 4(2) of
the Act. On June 20, 2008, we entered into a
license agreement with 482229 B.C. Ltd. (482229), a private company
based in Kelowna, British Columbia, whereby we granted 482229 the exclusive
rights to manufacture, market, distribute and sell in Canada all electrical
power generation products derived from our 2001 patent pending.  The
license is for an initial term of seven years.  482229 has agreed to pay us
a one time licensing fee of CDN$15,000 on or before June 20, 2009 and additional
fees equal to 3% of 482229s gross revenues derived from the sale of products,
payable quarterly.  In order to maintain the license, 482229 must meet or
exceed the following minimum sale requirements: During
Year Ended
Minimum
Total Sales of ProductsDecember 31,
2008
CDN$0.00December 31,
2009
CDN$20,000December 31,
2010
CDN$30,000December 31,
2011
CDN$40,000December 31,
2012
CDN$50,000December 31,
2013
CDN$60,000December 31,
2014
CDN$70,000 In August of 2008, our Board of
Directors resolved to expand our current business plan into other areas which
would allow us to generate revenues.  One particular area that our Board
resolved would provide added value to our company would be real estate, more
specifically real estate in the form of an operating casino in Las Vegas,
Nevada.  Currently, our President is actively identifying potential casinos
that are for sale in the Las Vegas area.  If we are able to locate and
purchase a suitable casino, we intend to move our corporate headquarters into
the casino.  The purchase of the casino will allow us to start generating
revenues so that we can further our business plan to develop, license and/or
acquire technologies and concepts in the field of Alternative Energy Sources.
 Once we locate a suitable casino, we intend to enter into a letter of
intent to purchase the casino.  We intend to finance the purchase of a
suitable casino through a combination of equity and/or debt financing, and by
undertaking a non-brokered private placement under Rule 506 of Regulation D, to
raise the funds required to purchase the casino.  There is no assurance
that we will succeed in identifying and purchasing a casino or that funding will
be available to us for this purpose.  There is also no assurance that any
casino we might purchase will generate revenues sufficient for us to carry out
our business plan related to alternative energy sources. As of the date hereof, we have no
other employees or customers.  Plan of
Operation Since our inception, we have been
involved in organizational activities, have completed offerings of shares of
common stock, have concluded the licensing and subsequent acquisition of an EPG
from Space Globe, and have completed a working model of the power generator.
 For the period from inception (April 27, 2001) through December 31, 2008,
we had no revenue from operations and our deficit accumulated during the
development stage amounted to $853,151.  We propose to compete in the
alternative energy source technology market. As reported in the Report of
Independent Registered Public Accounting Firm on our December 31, 2008 financial
statements, we have suffered recurring losses from operations, we have a working
capital deficit and a deficit accumulated during the development stage.
 These items raise substantial doubt about our ability to continue as a
going concern.   We plan to generate revenues through
the sale of manufacturing and marketing licenses on a world-wide basis.  We
also plan on generating revenues by possibly purchasing an operating casino in
Las Vegas, Nevada.  Our President is currently identifying potential
casinos that are available for sale in Las Vegas.  If he is successful in
locating a casino, we intend to finance the purchase of the casino through a
combination of debt and equity financing.  We would also move our corporate
headquarters into the casino. Future research and development will
be focused on smaller, portable EPGs adding a solar power component as well as
an electric wireless product.  Mr. Salamon has a conceptual design and
prototypes and will proceed with plans when funding allows. We are not planning to purchase a
plant or equipment at this time but rather to enter into licensing agreements to
manufacture and market the products. If we are unable to generate
sufficient revenue from operations to implement our plans, we intend to explore
all available alternatives for debt and/or equity financing, including but not
limited to private and public securities offerings.  Accordingly, we expect
that it will be necessary for us to raise additional funds in the event that we
are unable to generate any revenue from operations and if only a minimal level
of revenue is generated in accordance with our expectations. Mr. Salamon, at least
initially, will be responsible for developing our business.  However, at
such time, if ever, as sufficient operating capital becomes available, he
expects to employ additional staffing.  In addition, we expect to
continuously engage in market research in order to monitor new market trends and
other critical information deemed relevant to our business. Financial
Condition, Capital Resources and Liquidity As of March 31, 2009, we have a
deficit accumulated during the development stage of $870,092.At March 31, 2009, we had assets totaling
$702 and current liabilities of $57,918 attributable to amounts due to related
parties and accounts payable. We currently have a working capital
deficit and there can be no assurance that our financial condition will improve.
 We are expected to continue to have minimal working capital or a working
capital deficit as a result of our development stage. Even though we believe, without
assurance, that we will obtain sufficient capital with which to implement our
business plan on a limited scale, we are not expected to continue in operation
without an infusion of capital.  In order to obtain additional equity
financing, we may be required to dilute the interest of existing shareholders or
forego a substantial interest of our revenues, if any. We have no potential capital
resources from any outside sources at the current time.  In our initial
phase, we will operate out of the facility provided by Mr. Salamon Our ability to continue as a going concern
is dependent upon our ability to attract a sufficiently large and profitable
licensee base to license our electrical generator technology. To implement such plan, also during
this initial phase, we intend to initiate a self-directed private placement
under Rule 506 in order to raise approximately $500,000.  In the event such
placement is successful, we believe that we will have sufficient operating
capital to meet the initial expansion goals and operating costs for a period of
one year. Net Operating
Losses As of March 31, 2009, we have a
deficit accumulated during the development stage of $870,092. Research and
Development 482229 is now responsible for all
further development, testing and commercialization of all EPG products derived
from our 2001 patent pending.  Until we can secure other qualified
licensees regarding the EPG products derived from our other patents pending, all
further development, testing and commercialization of those EPG products will be
completed by us, subject to obtaining the necessary financing.  Upon
securing such other qualified licensees, any further research, development and
commercialization of those EPG products and all related costs will be the
responsibility of the licensee. We, under the direction of Mr.
Salamon, are continually researching and studying Alternative Energy Sources
and plan to develop other power generation devices as capital funding becomes
available.  Alternative Energy Sources are those which are not supplied by
the burning of fossil fuels or the splitting of atoms.  Some of the
alternative energy sources include solar energy, wind power, geothermal, tides
and hydro power. We have developed a smaller,
portable EPG utilizing similar designs and adding a solar power component.
 We have also developed prototypes of EPG products that generate power
wirelessly.   Off-Balance Sheet Arrangements We have no significant off-balance
sheet arrangements that have or are reasonably likely to have a current or
future effect on our financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources. Material
Commitments for Capital Expenditures We had no contingencies or long-term
commitments at March 31, 2009. Critical Accounting
Policies There were no
changes to the critical accounting policies as discussed in our 2008 Form 10-K
filed on April 15, 2009.    ITEM 6.
 EXHIBITS The following exhibits are filed
with the Form 10-Q:   3.1
Articles of
Incorporation (1)3.2
Bylaws
(1)10.1
Technology
License Agreement between Space Globe and the registrant dated July 5,
2001. (1)10.2
Assignment
Agreement between Space Globe and the registrant dated January 10, 2005.
(2)10.3
Consulting
Agreement between Alvin Mirman and the registrant dated September 8, 2006.
(5)10.4
Assignment
Agreement between Space Globe, John Salamon and the registrant dated June
29, 2007. (3)10.5
Debt Settlement
Agreement between Space Globe and the registrant dated June 29, 2007.
(3)10.6
Amendment dated
September 30, 2007 to Assignment Agreement dated January 10, 2005 among
Space Globe, John Salamon and the registrant. (4)10.7
Debt Settlement
Agreement between Space Globe and the registrant dated November 6, 2007.
(5)10.8
Debt Settlement
Agreement between Space Globe and the registrant dated April 15, 2008.
(6)10.9
License Agreement
between 482229 B.C. Ltd. and the registrant dated June 20, 2008.
(6)10.10
Consulting
Agreement between Harold Schneider and the registrant dated September 1,
200831.1
Certification of Chief Executive Officer and
Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act
of 2002. (6)32.1
Certification of Chief Executive Officer and
Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
(6) (1) Incorporated by
reference to the exhibits of the Registration Statement on Form 10-SB filed with
the Securities and Exchange Commission on December 12, 2003. (2) Incorporated by
reference to the exhibits of the Quarterly Report on Form 10-QSB filed with the
Securities and Exchange Commission on January 15, 2005. (3) Incorporated by
reference to the exhibits of the Quarterly Report on Form 10-QSB filed with the
Securities and Exchange Commission on August 20, 2007. (4) Incorporated by
reference to the exhibits of the Quarterly Report on Form 10-QSB filed with the
Securities and Exchange Commission on November 6, 2007. (5) Incorporated by
reference to the exhibits of the Annual Report on Form 10-KSB filed with the
Securities and Exchange Commission on April 14, 2008. (6) Filed herewith.   SIGNATURES In accordance with Section 13 or
15(d) of the Exchange Act, the registrant has duly caused this report to be
signed on its behalf by the undersigned duly authorized officer.  SALAMON GROUP, INC.Date:
July 7, 2009

By:
/s/ John E. SalamonJohn E. SalamonChief Executive Officer, Chief
Financial Officer,President, Secretary and Treasurer(Principal Executive Officerand Principal Accounting Officer)