---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-Q/A(Amendment No. 2)

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

For the quarterly period ended March 31, 2011

SALAMON GROUP INC.(Exact name of registrant as specified in its charter)

|Nevada                                   | 93-1324674                     
|---------------------------------------- | -------------------------------
|(State or other jurisdiction of          | (I.R.S. Employer Identification
|incorporation or organization)           | no.)                           
|                                         |                                
|1401 F Street B200                       | 95354                          
|Modesto, California                      | (Zip Code)                     
|(Address of principal executive offices) |                                

(209)-576-0140(Registrant's telephone
number, including area code)

Securities to be registered under Section 12(b) of the Act:

Title of each classNone

Name of each exchange on which registeredNone

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

Common Stock, $0.001 par value per share(Title of class)

Check whether the registrant (1) filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months
(or for such shorter period that the 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 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.

(Check one):

|Large accelerated filer [   ]                                          | Accelerated filer [   ]      
|---------------------------------------------------------------------- | -----------------------------
|Non-accelerated filer [   ] (Do not check if a
      smaller reporting | Smaller reporting company [X]
|company)                                                               |                              

Indicate by check mark whether the registrant is a shell
company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X] State
issuers revenues for its most recent fiscal year.

$0

As of May 2, 2011, the aggregate market value of the
Registrants voting stock held by non-affiliates was approximately $1,312,000
Number of shares of the issuers common stock, $0.001 par value, outstanding as
of May 2, 2011: 26,960,728 shares

---

TABLE OF CONTENTS

|PART I.  | FINANCIAL INFORMATION | 3                                                                
|-------- | --------------------- | -----------------------------------------------------------------
|         | ITEM 1.               | FINANCIAL STATEMENTS                                             
|         | ITEM 2.               | MANAGEMENTS DISCUSSION AND
      ANALYSIS OR PLAN OF OPERATION  
|         | ITEM 4T.              | CONTROLS AND PROCEDURES                                          
|         |                       |                                                                  
|PART II. | OTHER INFORMATION     | 15                                                               
|         | ITEM 1.               | LEGAL PROCEEDINGS                                                
|         | ITEM 2.               | UNREGISTERED SALES OF EQUITY SECURITIES AND USE
      OF PROCEEDS
|         | ITEM 3.               | DEFAULTS UPON SENIOR SECURITIES                                  
|         | ITEM 4.               | SUBMISSIONS OF MATTERS TO A VOTE OF SECURITY
      HOLDERS       
|         | ITEM
      5.         | OTHER INFORMATION                                                
|         | ITEM 6.               | EXHIBITS                                                         
|         |                       | SIGNATURES                                                       

---

PART I  FINANCIAL INFORMATION

|ITEM 1. | FINANCIAL STATEMENTS
|------- | --------------------
|        |                     

Salamon Group Inc. (A Development Stage Company)
Balance Sheets (Expressed in US dollars)

|                                                                                                                                                    |  | (unaudited) |   |  |              |  
|--------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------- | - |  | ------------ | -
|                                                                                                                                                    |  | March 31,   |   |  | December 31, |  
|                                                                                                                                                    |  | 2011        |   |  | 2010         |  
|                                                                                                                                                    |  | $           |   |  | $            |  
|ASSETS                                                                                                                                              |  |             |   |  |              |  
|Current assets:                                                                                                                                     |  |             |   |  |              |  
|Cash                                                                                                                                                |  | -           |   |  | -            |  
|Total assets                                                                                                                                        |  | -           |   |  | -            |  
|                                                                                                                                                    |  |             |   |  |              |  
|LIABILITIES AND STOCKHOLDERS DEFICIT                                                                                                               |  |             |   |  |              |  
|Current liabilities:                                                                                                                                |  |             |   |  |              |  
|Bank overdraft                                                                                                                                      |  | -           |   |  | 4            |  
|Accounts payable                                                                                                                                    |  | 143,827     |   |  | 134,423      |  
|Accrued liabilities                                                                                                                                 |  | 5,000       |   |  | -            |  
|Advances from directors (Note 3)                                                                                                                    |  | 52,472      |   |  | 2,233        |  
|Total liabilities                                                                                                                                   |  | 201,299     |   |  | 136,660      |  
|                                                                                                                                                    |  |             |   |  |              |  
|Contingencies and Commitments (Notes 1 and 5)                                                                                                       |  |             |   |  |              |  
|                                                                                                                                                    |  |             |   |  |              |  
|Stockholders deficit:                                                                                                                              |  |             |   |  |              |  
|Preferred stock,
      no par value; 10,000,000 shares authorized, no shares issued and
      outstanding                                           |  | -           |   |  | -            |  
|Common stock, $0.001 par
      value; 50,000,000 shares authorized, 26,960,728 shares issued and
      outstanding (December 31, 2010  25,460,728) |  | 26,961      |   |  | 25,461       |  
|Common stock to
      be issued                                                                                                                     |  | -           |   |  | 15,000       |  
|Additional paid-in capital                                                                                                                          |  | 1,006,000   |   |  | 992,500      |  
|Donated capital
      (Note 3)                                                                                                                      |  | 1,333       |   |  | -            |  
|Accumulated deficit                                                                                                                                 |  | (1,235,593  | ) |  | (1,169,621   | )
|Total stockholders deficit                                                                                                                         |  | (201,299    | ) |  | (136,660     | )
|Total liabilities and stockholders deficit                                                                                                         |  | -           |   |  | -            |  

See accompanying notes to the financial statements

F-3

---

Salamon Group Inc. (A Development Stage Company)
Statements of Operations (Expressed in US dollars) (Unaudited)

|                                          |  |               |   |  |               |   |  | For the Period |  
|----------------------------------------- |  | ------------- | - |  | ------------- | - |  | -------------- | -
|                                          |  |               |   |  |               |   |  | from April 27, |  
|                                          |  | For the Three |   |  | For the Three |   |  | 2001           |  
|                                          |  | Months        |   |  | Months        |   |  |                |  
|                                          |  | Ended         |   |  | Ended         |   |  | (Inception) to |  
|                                          |  | March 31,     |   |  | March 31,     |   |  | March 31,      |  
|                                          |  | 2011          |   |  | 2010          |   |  | 2011           |  
|                                          |  | $             |   |  | $             |   |  | $              |  
|                                          |  |               |   |  |               |   |  |                |  
|Expenses                                  |  |               |   |  |               |   |  |                |  
|Donated rent (Note 3)                     |  | 1,333         |   |  | -             |   |  | 1,333          |  
|General and
      administrative (Note 3) |  | 64,639        |   |  | 4,792         |   |  | 883,427        |  
|Interest expense                          |  | -             |   |  | -             |   |  | 35,833         |  
|Research and development                  |  | -             |   |  | -             |   |  | 315,000        |  
|                                          |  |               |   |  |               |   |  |                |  
|Total expenses                            |  | 65,972        |   |  | 4,792         |   |  | 1,235,593      |  
|                                          |  |               |   |  |               |   |  |                |  
|Net loss                                  |  | (65,972       | ) |  | (4,792        | ) |  | (1,235,593     | )
|                                          |  |               |   |  |               |   |  |                |  
|Loss per share  basic and diluted        |  | (0.00         | ) |  | (0.00         | ) |  |                |  
|                                          |  |               |   |  |               |   |  |                |  
|Weighted average shares outstanding       |  | 26,710,728    |   |  | 21,923,794    |   |  |                |  

See accompanying notes to the financial statements

F-4

---

Salamon Group Inc. (A Development Stage Company)
Statements of Cash Flows (Expressed in US dollars) (Unaudited)

|                                                                                  |  |               |   |  |               |   |  | For the Period |  
|--------------------------------------------------------------------------------- |  | ------------- | - |  | ------------- | - |  | -------------- | -
|                                                                                  |  |               |   |  |               |   |  | from April 27, |  
|                                                                                  |  | For the Three |   |  | For the Three |   |  | 2001           |  
|                                                                                  |  | Months        |   |  | Months        |   |  |                |  
|                                                                                  |  | Ended         |   |  | Ended         |   |  | (Inception) to |  
|                                                                                  |  | March 31,     |   |  | March 31,     |   |  | March 31,      |  
|                                                                                  |  | 2011          |   |  | 2010          |   |  | 2011           |  
|                                                                                  |  | $             |   |  | $             |   |  | $              |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Cash flow from operating
      activities:                                        |  |               |   |  |               |   |  |                |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Net loss                                                                          |  | (65,972       | ) |  | (4,792        | ) |  | (1,235,593     | )
|                                                                                  |  |               |   |  |               |   |  |                |  
|Adjustments to
      reconcile net loss to net cash used in operating activities: |  |               |   |  |               |   |  |                |  
|Amortization of intangible asset                                                  |  | -             |   |  | -             |   |  | 55,000         |  
|Estimated fair value of common stock issued for
      patents                     |  | -             |   |  | -             |   |  | 315,000        |  
|Beneficial conversion of amounts due to related party                             |  | -             |   |  | -             |   |  | 35,833         |  
|Depreciation of property and equipment                                            |  | -             |   |  | -             |   |  | 4,515          |  
|Estimated fair value of common stock issued for services                          |  | -             |   |  | -             |   |  | 145,791        |  
|Donated rent                                                                      |  | 1,333         |   |  | -             |   |  | 1,333          |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Changes in
      operating assets and liabilities:                                |  |               |   |  |               |   |  |                |  
|Accounts payable                                                                  |  | 9,404         |   |  | (7,198        | ) |  | 210,641        |  
|Accrued liabilities                                                               |  | 5,000         |   |  | -             |   |  | 5,000          |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Net cash
      provided by (used in) operating activities                         |  | (50,235       | ) |  | (11,990       | ) |  | (462,480       | )
|                                                                                  |  |               |   |  |               |   |  |                |  
|Cash flows from investing
      activities:                                       |  |               |   |  |               |   |  |                |  
|Purchase of property and
      equipment                                          |  | -             |   |  | -             |   |  | (4,515         | )
|Purchase of license                                                               |  | -             |   |  | -             |   |  | (50,000        | )
|                                                                                  |  |               |   |  |               |   |  |                |  
|Net cash used in investing activities                                             |  | -             |   |  | -             |   |  | (54,515        | )
|                                                                                  |  |               |   |  |               |   |  |                |  
|Cash flows from financing
      activities:                                       |  |               |   |  |               |   |  |                |  
|Bank overdraft                                                                    |  | (4            | ) |  | -             |   |  | -              |  
|Advances from
      directors                                                     |  | 50,239        |   |  | 11,972        |   |  | 390,295        |  
|Proceeds from related party note
      payable                                    |  | -             |   |  | -             |   |  | 23,700         |  
|Issuance of common stock for cash                                                 |  | -             |   |  | -             |   |  | 103,000        |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Net cash provided by (used in) financing
      activities                         |  | 50,235        |   |  | 11,972        |   |  | 516,995        |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Net change in cash                                                                |  | -             |   |  | (18           | ) |  | -              |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Cash, beginning of period                                                         |  | -             |   |  | 43            |   |  | -              |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Cash, end of period                                                               |  | -             |   |  | 25            |   |  | -              |  
|                                                                                  |  |               |   |  |               |   |  |                |  
|Non-cash Financing
      Activities:                                              |  |               |   |  |               |   |  |                |  
|Common stock issued upon
      conversion of amounts due to related parties       |  | -             |   |  | 18,811        |   |  | 376,388        |  
|Common stock to
      be issued or to be issued to settle accounts payable        |  | -             |   |  | -             |   |  | 18,000         |  
|Common stock issued upon
      conversion of related party note payable           |  | -             |   |  | -             |   |  | 23,700         |  
|Common stock
      issued for license                                             |  | -             |   |  | -             |   |  | 5,000          |  
|Common stock issued in conversion of accounts
      payable                       |  | -             |   |  | -             |   |  | 10,059         |  

See accompanying notes to the financial statements

F-5

---

Salamon Group Inc. 
(A Development Stage Company) 
Notes to Financial Statements 
(Expressed in US dollars) 
(Unaudited)

|1. | Nature of Operations and Going Concern                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | Salamon Group, Inc. (the "Company") was incorporated in the state of Nevada on April 27, 2001 (“Inception”). The Company is a development stage company whose principal business plan is to seek earnings by acquiring
revenue producing assets in the field of solar energy. The Company is a development stage company as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 915, Development Stage
Entities.                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America applicable to a going concern. At March 31, 2011, the Company has no revenues to date, has
accumulated losses of $1,235,593 since inception and a working capital deficit of $201,299 and expects to incur further losses in the development of its business, all of which cast substantial doubt about the Company’s ability to
continue as a going concern.                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | Management plans to continue to provide for the Company's capital needs during the year ending December 31, 2011 by issuing debt and equity securities and by the continued support of its related parties (see Note 3). The financial
statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. There
is no assurance that funding will be available to continue the Company’s business operations.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|2. | Summary of Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   | (b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

F-6

---

Salamon Group Inc. 
(A Development Stage Company) 
Notes to Financial Statements 
(Expressed in US dollars) 
(Unaudited)

|2. | Summary of Significant Accounting Policies (continued)
|-- | ------------------------------------------------------
|   |                                                       
|   | (c)                                                   
|   |                                                       
|   |                                                       
|   |                                                       
|   | (d)                                                   
|   |                                                       
|   |                                                       
|   |                                                       
|   | (e)                                                   
|   |                                                       
|   |                                                       
|   |                                                       
|   | (f)                                                   
|   |                                                       
|   |                                                       

F-7

---

Salamon Group Inc. (A Development Stage Company) Notes
to Financial Statements (Expressed in US dollars) (Unaudited)

|2. | Summary of Significant Accounting Policies
      (continued)
|-- | ------------------------------------------------------------
|   |                                                             
|   | (g)                                                         
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             
|   |                                                             

| |                |  | Fair Value Measurements Using | 
| | -------------- |  | ----------------------------- | 
| |                |  | Quoted                        | 
| |                |  | Prices in                     | 
| |                |  | Active                        | 
| |                |  | Markets For                   | 
| |                |  | Identical                     | 
| |                |  | Instruments                   | 
| |                |  | (Level 1)                     | 
| |                |  | $                             | 
| | Liabilities:   |  |                               | 
| | Bank overdraft |  | 4                             | 

F-8

---

Salamon Group Inc. (A Development Stage Company) Notes
to Financial Statements (Expressed in US dollars) (Unaudited)

|2. | Summary of Significant Accounting Policies
      (continued)
|-- | ------------------------------------------------------------
|   |                                                             
|   | (h)                                                         
|   |                                                             
|   |                                                             
|   |                                                             
|   | (i)                                                         
|   |                                                             
|   |                                                             
|   |                                                             
|   | (j)                                                         
|   |                                                             
|   |                                                             
|   |                                                             
|   | (k)                                                         
|   |                                                             
|   |                                                             

F-9

---

Salamon Group Inc. (A Development Stage Company) Notes
to Financial Statements (Expressed in US dollars) (Unaudited)

|3. | Related Party Transactions and Balances                                                                                                                                                                                                                                                                          
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                  
|   | (a)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|   | (b)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|   | (c)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|   | (d)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|   | (d)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|4. | Common Stock                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                  
|   | On January 24, 2011, the Company, pursuant to an
      agreement dated November 15, 2010, issued 1,500,000 shares of its common
      stock to a third party to settle accounts payable related to services
      provided. The shares were recorded in common shares to be issued as at
      December 31, 2010.
|   |                                                                                                                                                                                                                                                                                                                  
|5. | Commitments and Contingencies                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                  
|   | (a)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                  
|   | (b)                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                  

F-10

---

|Item
      2. | Management's Discussion and Analysis or
      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. As of December 31, 2010, the
Company has terminated all activities relating to the EPG and power generator.

On December 30, 2010, we entered into a Stock Purchase
Agreement (SPA) with Sunlogics Power Fund. Sunlogics Power Fund is focused on
the acquisition of solar powered electricity generating facilities which have
long term power purchasing agreements in place with local power utilities and
commercial users. In the event that the Company completes its RTO with Sunlogics
Power Fund, it proposes to compete in the solar powered market moving forward.
All conditions in the SPA have been satisfied and the Closing of the transaction
will complete with the filing of an 8K with the SEC. For the period from
inception (April 27, 2001) through March 31, 2011, we had no revenue from
operations and our deficit accumulated has amounted to $1,235,593.

As reported in the Report of Independent Registered Public
Accounting Firm on our December 31, 2010 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.

In the event that the Company completes the RTO, it plans to
generate revenues through: i) the sale of solar powered electricity to local
power utilities and end users through long term power purchase agreements; and
ii) by funding solar power generating plants which the Company is currently
identifying with potential customers in the United States and Canada. If the
Company is successful in acquiring revenue producing renewable energy projects,
we intend to finance our operations through a combination of debt and equity
financing.

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.

Results of Operations

Summary of Period End Results

|                  |   | Three Months Ended |  
|----------------- | - | ------------------ | -
|                  |   | March 31,          |  
|                  |   | 2011               |  
|Revenue           | $ | -                  |  
|Expenses          |   | (65,972            | )
|Net Income (Loss) | $ | (65,972            | )

Revenues

We did not earn any revenues during the three months ended
March 31, 2011.

F-11

---

Expenses

The major components of our expenses for the year are outlined
in the table below:

|                           |   | 3 Months Ended | 
|-------------------------- | - | -------------- | 
|                           |   | March 31,      | 
|                           |   | 2011           | 
|General and Administrative | $ | 64,639         | 
|Donated Rent               |   | 1,333          | 
|                           |   |                | 
|Total Expenses             | $ | 65,972         | 

Liquidity and Capital Resources Working Capital

|                    |   | At March |   |   | At December |  
|------------------- | - | -------- | - | - | ----------- | -
|                    |   | 31, 2011 |   |   | 31, 2010    |  
|Current Assets      | $ | 0        |   | $ | 0           |  
|Current Liabilities |   | (201,299 | ) |   | (136,660    | )
|Working Capital     | $ | (201,299 | ) | $ | (136,660    | )

Cash Flows

|                                                          |   | 3 Months Ended |  
|--------------------------------------------------------- | - | -------------- | -
|                                                          |   | March 31,      |  
|                                                          |   | 2011           |  
|Net Cash Provided By (Used
      In) Operating Activities | $ | (50,235        | )
|Net Cash from Investing Activities                        |   | -              |  
|Net Cash (Used In) Provided
      By Financing Activities |   | 50,235         |  
|Net Change in Cash During Period                          | $ | 0              |  

Financing Requirements

From inception to March 31, 2011, we have suffered cumulative
losses in the amount of $1,235,593. Since our inception, we have funded
operations through common stock issuances, related party loans, and the support
of creditors in order to meet our strategic objectives. Our management believes
that sufficient funding will be available to meet our business objectives,
including anticipated cash needs for working capital, and are currently
evaluating several financing options, including a public offering of securities.
However, there can be no assurance that we will be able to obtain sufficient
funds to continue our operations. As a result of the foregoing, our independent
auditors believe there exists substantial doubt about our ability to continue as
a going concern. There is no assurance that we will be able to obtain additional
financing if and when required. We anticipate that additional financing may come
in the form of sales of additional shares of our common stock which may result
in dilution to our current shareholders.

F-12

---

Financial Condition, Capital Resources and Liquidity

As of March 31, 2011, we have a deficit accumulated during the
development stage of $1,235,593. At March 31, 2011, we had assets totalling $0
and current liabilities of $201,299 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.

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.

Our ability to continue as a going concern is dependent upon
our ability to complete the RTO with Sunlogics Power Fund Management Inc. Net
Operating Losses As of March 31, 2011, we have accumulated a net loss of
$1,235,593. Research and Development Not Applicable.

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,
2011. Critical Accounting Policies

There were no changes to the critical accounting policies as
discussed in our 2010 Form 10-K.

|Item
    4(T). | Controls and Procedures.
|-------------- | ------------------------

Managements Report on Internal Control over Financial
Reporting

F-13

---

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial
reporting during the first quarter of our fiscal year ended December 31, 2011,
that have materially affected, or are reasonably likely to materially affect,
our internal control over financial reporting.

Limitations on the Effectiveness of Controls

Our management does not expect that our Disclosure Controls and
internal controls will prevent all errors and all fraud. A control system, no
matter how well conceived and operated, can provide only reasonable, not
absolute, assurance that the objectives of the control system are met. Further,
the design of a control system must reflect the fact that there are resource
constraints, and the benefits of controls must be considered relative to their
costs. Because of the inherent limitations in all control systems, no evaluation
of controls can provide absolute assurance that all control issues and instances
of fraud, if any, within the Company have been detected. These inherent
limitations include the realities that judgments in decision-making can be
faulty, and that breakdowns can occur because of a simple error or mistake.
Additionally, controls can be circumvented by the individual acts of some
persons, by collusion of two or more people, or by management or board override
of the control.

F-14

---

The design of any system of controls also is based in part upon
certain assumptions about the likelihood of future events, and there can be no
assurance that any design will succeed in achieving its stated goals under all
potential future conditions; over time, controls may become inadequate because
of changes in conditions, or the degree of compliance with the policies or
procedures may deteriorate. Because of the inherent limitations in a
cost-effective control system, misstatements due to error or fraud may occur and
not be detected.

PART II - Other Information

|Item
      1. | Legal Proceedings
|------------- | -----------------

We know of no legal proceedings to which we are a party or to
which any of our property is the subject which are pending, threatened or
contemplated or any unsatisfied judgments against us.

|Item
      2. | Unregistered Sales of Equity securities
      and Use of Proceeds
|------------- | -----------------------------------------------------------------

None

|Item
      3. | Defaults Upon Senior securities
|------------- | -------------------------------

None

|Item
      4. | Submission of Matters to a Vote of
      Security Holders.
|------------- | ----------------------------------------------------------

None

|Item
      5. | Other Information
|------------- | -----------------

None

F-15

---

|Item
      6. | Exhibits.
|------------- | ---------

|Exhibit |                                                                                                     |    
|------- | --------------------------------------------------------------------------------------------------- | ---
|No.     | **Description**                                                                                     |    
|2.1     | Articles of Incorporation                                                                           | (1)
|2.2     | Bylaws                                                                                              | (1)
|2.3     | Initial List of Officers,
      Directors and Registered Agent                                      | (1)
|31.1    | Certification of Chief Executive Officer
      pursuant to Section 302(a) of the Sarbanes-Oxley Act | (2)
|32.1    | Certification of Chief
      Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act    | (2)

|(1) | Incorporated by reference to the exhibits of the
      Registration Statement on Form 10-KSB filed with the Securities and
      Exchange Commission on August 6, 2004.
|--- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(2) | Filed herewith.                                                                                                                                                        

SIGNATURES

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

|                        | SALAMON GROUP, INC.         
|----------------------- | ----------------------------
|                        |                             
|Dated: December 6, 2011 | By:/s/ Michael Matvieshen   
|                        | Michael Matvieshen          
|                        | Chief Executive Officer     
|                        | Principal Financial Officer 
|                        | Principal Accounting Officer

F-16

---