U.S.
SECURITIES AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q





x
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE


SECURITIES
EXCHANGE ACT OF 1934





For the
quarterly period ended June 30, 2010





 ̈
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE


SECURITIES
EXCHANGE ACT OF 1934





For the
transition period from to





Commission
file number 000-53136





Accelerated Acquisitions I,
Inc.


(Exact
name of small business issuer as specified in its charter)





Delaware


(State or
other jurisdiction of incorporation or organization)





26-2012582


(I.R.S.
Employer Identification Number)





1127 Webster Street, Suite
28, Oakland, CA 94607


(Address
of Principal Offices)





(510)
544-1516


(Issuer’s
Telephone Number)





122 Ocean Park Blvd. Suite
307, Santa Monica, CA 90405


(Former
name, former address and former fiscal year, if changed since last
report)





Check
whether the issuer (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 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  during  the preceding 12 months
(or  for  such  shorter  period  that  the  registrant  was
required to submit and post such files). ̈Yes  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.





Large Accelerated
                Filer
                o
              
              Accelerated
                Filer ̈
              
              Non-Accelerated Filer
                 ̈ (Do not check if a
                smaller reporting
                company)
              
              Smaller Reporting
                Company
                þ




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





APPLICABLE
ONLY TO CORPORATE ISSUERS





State the
number of shares outstanding of each of the issuer’s classes of common equity,
as of the latest practicable date: 26,948,500 shares of common stock, par value
$.0001 per share, outstanding as of August 1, 2010.





Transitional Small Business Disclosure
Format (Check one):       Yes ̈Nox





ACCELERATED
ACQUISITIONS I, INC.





-
INDEX -




Page(s)PART
      I – FINANCIAL INFORMATION:Item
      1.
                Financial
      Statements (unaudited):Balance
      Sheets as of June 30, 2010 and December 31, 2009
                
                3Statements
      of Operations for the three and six months ended June 30, 2010 and June
      30, 2009 and for the Cumulative Period from Inception (February 15, 2008)
      to June 30, 2010
                
                4Statements
      of Cash Flows for the six months ended June 30, 2010, June 30, 2009 and
      for the Cumulative Period from Inception (February 15, 2008) to June 30,
      2010
                
                5Notes
      to Financial Statements
                
                6Item 2.
                Management's
      Discussion and Analysis of Financial Condition and Results of
      Operations
                
                11Item
      3.
                Quantitative
      and Qualitative Disclosures About Market Risk
                
                12Item 4T.
      Controls and Procedures
                
                12PART
      II – OTHER INFORMATION:Item
      1.
                Legal
      Proceedings
                
                13Item
      1A
                Risk
      Factors
                
                13Item
      2.
                Unregistered
      Sales of Equity Securities and Use of Proceeds
                
                13Item
      3.
                Defaults
      Upon Senior Securities
                
                13Item
      4.
                (Reserved
      and Removed)
                
                13Item
      5.
                Other
      Information
                
                13Item 6.
                Exhibits
                
                14Signatures
                
                14


2


ACCELERATED ACQUISITIONS I,
INC.


(A
Development Stage Company)


BALANCE
SHEETS




June 30,
                
                
                December
                  31,2010
                
                
                2009(unaudited)
                
                
                (audited)ASSETSCURRENT
      ASSETS:Cash
      and cash equivalents,
                
                $
                -
                
                
                $
                -TOTAL
      ASSETS
                
                $
                -
                
                
                $
                -LIABILITIES
      AND STOCKHOLDER’S DEFICITCURRENT
      LIABILITIESAccrued
      expenses
                
                $
                3,990
                
                
                $
                4,442Shareholder
      advances
                
                
                9,828
                
                
                
                5,186TOTAL
      LIABILITIES
                
                $
                13,818
                
                
                $
                9,628STOCKHOLDER’SDEFICIT:Preferred
      stock, $.0001 par value; 10,000,000 shares authorized; none issued and
      outstanding
                
                
                
                
                
                
                -Common
      stock, $.0001 par value; 100,000,000 shares authorized; 26,850,000 and
      5,000,000 shares issued and outstanding at June 30, 2010 and December 31,
      2009, respectively
                
                
                2,885
                
                
                
                500Additional
      paid-in capital
                
                
                7,500
                
                
                
                7,500Deficit
      accumulated during the development stage
                
                
                (21,818
                )
                
                
                (17,628
                )Stock
      subscription receivable
                
                
                (2,385
                )
                
                
                -TOTAL
      STOCKHOLDER’S DEFICIT
                
                
                (13,818
                )
                
                
                (9,628
                )TOTAL
      LIABILITIES AND STOCKHOLDER’S DEFICIT
                
                $
                -
                
                
                $
                -





See
notes to unaudited financial statements.


3


ACCELERATED ACQUISITIONS I,
INC.)


(A
Development Stage Company)


Statements
of Operations (Unaudited)








Three Months ended
                                                                                    June 30
                                                                                  
                                                                                  
                                                                                  Six Months ended
                                                                                    June 30,
                                                                                  
                                                                                  
                                                                                  Cumulative
                                                                                    from
                                                                                    Feb. 15, 2008
                                                                                    (Inception)
                                                                                    to June 30,2010
                                                                                  
                                                                                  
                                                                                  2009
                                                                                  
                                                                                  
                                                                                  2010
                                                                                  
                                                                                  
                                                                                  2009
                                                                                  
                                                                                  
                                                                                  2010Revenues
                                                                                  
                                                                                  $
                                                                                  -
                                                                                  
                                                                                  
                                                                                  $
                                                                                  -
                                                                                  
                                                                                  
                                                                                  $
                                                                                  -
                                                                                  
                                                                                  
                                                                                  $
                                                                                  -
                                                                                  
                                                                                  
                                                                                  $
                                                                                  -Operating
      ExpensesGeneral
      and administrative
                                                                                  
                                                                                  
                                                                                  3,990
                                                                                  
                                                                                  
                                                                                  
                                                                                  2,035
                                                                                  
                                                                                  
                                                                                  
                                                                                  4,190
                                                                                  
                                                                                  
                                                                                  
                                                                                  3,785
                                                                                  
                                                                                  
                                                                                  
                                                                                  21,818Net
      Operating Expenses
                                                                                  
                                                                                  
                                                                                  3,990
                                                                                  
                                                                                  
                                                                                  
                                                                                  2,035
                                                                                  
                                                                                  
                                                                                  
                                                                                  4,190
                                                                                  
                                                                                  
                                                                                  
                                                                                  3,785
                                                                                  
                                                                                  
                                                                                  
                                                                                  21,818Net
      Loss
                                                                                  
                                                                                  $
                                                                                  (3,990
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (2,035
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (4,190
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (3,785
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (21,818
                                                                                  )PER
      SHARE INFORMATION:Basic
      and diluted, net loss per share
                                                                                  
                                                                                  $
                                                                                  (.00
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (.00
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (.00
                                                                                  )
                                                                                  
                                                                                  $
                                                                                  (.00
                                                                                  )Basic
      and diluted, weighted average shares outstanding
                                                                                  
                                                                                  
                                                                                  6,582,778
                                                                                  
                                                                                  
                                                                                  
                                                                                  5,000,000
                                                                                  
                                                                                  
                                                                                  
                                                                                  5,791,389
                                                                                  
                                                                                  
                                                                                  
                                                                                  5,000,000





See
notes to unaudited financial statements.


4


ACCELERATED ACQUISITIONS I,
INC.


A
Development Stage Company


STATEMENTS
OF CASH FLOWS


(unaudited)





For the
                                                Six
                                                Months
                                                ended
                                                June 30,
                                                2010
                                              
                                              
                                              For the
                                                Six
                                                Months
                                                ended
                                                June 30,
                                                2009
                                              
                                              
                                              For the
                                                Cumulative
                                                Period from
                                                Inception
                                                (Feb 15, 2008)
                                                through
                                                June 30, 2010CASH
      FLOWS FROM OPERATING ACTIVITIES:Net
      (loss)
                                              
                                              $
                                              (4,190
                                              )
                                              
                                              $
                                              (3,785
                                              )
                                              
                                              $
                                              (21,818
                                              )Increase
      (decrease) in accounts payable
                                              
                                              
                                              (452
                                              )
                                              
                                              
                                              335
                                              
                                              
                                              
                                              3,990Net
      cash used in operating activities
                                              
                                              
                                              (4,642
                                              )
                                              
                                              
                                              (3,450
                                              )
                                              
                                              
                                              (17,828
                                              )CASH
      FLOWS FROM FINANCING ACTIVITIES:Proceeds
      from issuance of common stock
                                              
                                              
                                              
                                              
                                              
                                              
                                              -
                                              
                                              
                                              
                                              8,000Shareholder
      advances
                                              
                                              
                                              4,642
                                              
                                              
                                              
                                              3,450
                                              
                                              
                                              
                                              9,828Net
      cash provided by financing activities
                                              
                                              
                                              4,642
                                              
                                              
                                              
                                              3,450
                                              
                                              
                                              
                                              17,828NET
      INCREASE IN CASH AND CASH EQUIVALENTS
                                              
                                              
                                              -
                                              
                                              
                                              
                                              -
                                              
                                              
                                              
                                              -Cash
      and cash equivalents at beginning of period
                                              
                                              
                                              -
                                              
                                              
                                              
                                              691
                                              
                                              
                                              
                                              -CASH
      AND CASH EQUIVALENTS AT END OF PERIOD
                                              
                                              $
                                              -
                                              
                                              
                                              $
                                              691
                                              
                                              
                                              $
                                              -SUPPLEMENTAL
      DISCLOSURES:Cash
      paid during the period:Income
      taxes
                                              
                                              
                                              -
                                              
                                              
                                              
                                              -
                                              
                                              
                                              
                                              -Interest
      expense
                                              
                                              
                                              -
                                              
                                              
                                              
                                              -
                                              
                                              
                                              
                                              -Noncash
      investing and financing activities:Proceeds
      from the issuance of common stock
                                              
                                              
                                              2,385
                                              
                                              
                                              
                                              -
                                              
                                              
                                              
                                              2,385Cancellation
      of common shares
                                              
                                              
                                              (350
                                              )
                                              
                                              
                                              -
                                              
                                              
                                              
                                              (350
                                              )Additional
      paid-in capital
                                              
                                              
                                              350
                                              
                                              
                                              
                                              -
                                              
                                              
                                              
                                              350Stock
      subscription receivable
                                              
                                              
                                              (2,385
                                              )
                                              
                                              
                                              -
                                              
                                              
                                              
                                              (2,385
                                              )





See
notes to unaudited financial statements.


5


ACCELERATED ACQUISITIONS I,
INC.


(A
Development Stage Company)


NOTES
TO FINANCIAL STATEMENTS


JUNE 30,
2010





NOTE 1       -
                ORGANIZATION
      AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES:




(a)           Organization
and Business:




Accelerated
Acquisitions I, Inc. (“the Company”) was incorporated in the state of Delaware
on February 15, 2008 for the purpose of raising capital that is intended to be
used in connection with its business plan which may include a possible merger,
acquisition or other business combination with an operating
business.





On July
2, 2010 the Company changed its business plan to become an exploration and
refining company for the mining of gold, copper, and other precious or
industrial mineral deposits through the acquisition of certain rights in the
Republic of the Philippines. On that date, the Company entered into an
Assignment of Rights Agreement (“Rights Agreement”) with Oro-East Mining Company
LTD.  Pursuant to the terms of the Rights Agreement, Oro assigned to
the Company certain rights and obligations with respect to the permitted mining
claims described in the Rights Agreement.  Pursuant to the Rights
Agreement, the Company will assume the rights and obligations of Oro to explore,
extract, refine and produce precious metals and other industrial deposits on the
claims and earn fees with respect to such services.  By entering into
the Rights Agreement, the Company commenced business as an exploration, mining,
refinery and production company. The Company intends to focus on extracting
gold, silver, copper, iron ore and other industrial minerals to primarily meet
the demands of Chinese Government and companies for the mined
minerals.





The
Company is currently in the development stage. All activities of the Company to
date relate to its organization, initial funding and share
issuances.





(b)           Basis
of Presentation





The
accompanying Interim Financial Statements are unaudited and have been prepared
in accordance with accounting principles generally accepted for interim
financial statement presentation and in accordance with the instructions to
Regulations S-K.  Accordingly, they do not include all of the
information and footnotes required by accounting principles generally accepted
in the United States for complete financial statement presentation. In the
opinion of management, all adjustments for a fair statement of the results and
operations and financial position for the interim periods presented have been
included.  All such adjustments are of a normal recurring nature. The
financial information should be read in conjunction with the Financial
Statements and notes thereto included in the Company’s Form 10-K Annual Report
for the year ended December 31, 2009 and the Company’s Registration Statement on
Form 10. The June 30, 2010 consolidated financial statements presented herein
may not be indicative of the results of the Company for the year ending December
31, 2010.





(c)           Going
Concern




The
accompanying financial statements have been prepared on a going concern basis,
which assumes the Company will realize its assets and discharge its liabilities
in the normal course of business. As reflected in the accompanying financial
statements, the Company has a deficit accumulated during the development stage
of $21,818, used cash from operations of $17,828 since its inception, and has
negative working capital of $13,818 at June 30, 2010. The Company’s ability to
continue as a going concern is dependent upon its ability to generate future
profitable operations and/or to obtain the necessary financing to meet its
obligations and repay its liabilities arising from normal business operations
when they come due. Management’s plan includes obtaining additional funds by
equity financing and/or related party advances, however there is no assurance of
additional funding being available. These conditions raise substantial doubt
about the Company’s ability to continue as a going concern. The accompanying
financial statements do not include any adjustments that might arise as a result
of this uncertainty.


6


ACCELERATED ACQUISITIONS I,
INC.


A
Development Stage Company


NOTES TO FINANCIAL
STATEMENTS


JUNE 30,
2010





(d)           Use
of Estimates:




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





NOTE 2       -
            INCOME
      TAXES:




The
Company has incurred net operating losses since inception. The Company has not
reflected any benefit of such net operating loss carry forward in the financial
statements.




In
assessing the realization of deferred tax assets, management considers whether
it is more likely than not that some portion or all of the deferred tax assets
will not be realized. The ultimate realization of deferred tax assets is
dependent upon the generation of future taxable income.




Based on
the level of historical taxable losses and projections of future taxable income
(losses) over the periods in which the deferred tax assets can be realized,
management currently believes that it is more likely than not that the Company
will not realize the benefits of these deductible differences. Accordingly, the
Company has provided a valuation allowance against the gross deferred tax assets
as follows:




June 30, 2010
                        
                        
                        December 31, 2009Gross
      deferred tax assets
                        
                        
                        6,540
                        
                        
                        
                        6,000Valuation
      allowance
                        
                        
                        (6,540
                        )
                        
                        
                        (6,000
                        )Net
      deferred tax asset
                        
                        
                        —
                        
                        
                        
                        —




The
federal net operating loss carryforwards of $21,800 expire in the tax years 2028
and 2029.




Federal
tax laws impose significant restrictions on the utilization of net operating
loss carryforwards and research and development credits in the event of a change
in ownership of the Company, as defined by the Internal Revenue Code Section
382. The Company’s net operating loss carryforwards and research and development
credits may be subject to the above limitations.




The
relevant FASB standard resulted in no adjustments to the Company’s liability for
unrecognized tax benefits. As of both the date of adoption and as of June 30.
2010 there were no unrecognizable tax benefits. Accordingly, a tabular
reconciliation from beginning to ending periods is not provided. The Company
will classify any future interest and penalties as a component of income tax
expense if incurred. To date, there have been no interest or penalties charged
or accrued in relation to unrecognized tax benefits.  The Company is
subject to federal and state examinations for the year 2008 forward. There are
no tax examinations currently in progress.





NOTE 3       -
            RECENT
      ACCOUNTING PRONOUNCEMENTS:





In
February 2010, the FASB issued amended guidance on subsequent events to
alleviate potential conflicts between FASB guidance and SEC requirements. Under
this amended guidance, SEC filers are no longer required to disclose the date
through which subsequent events have been evaluated in originally issued and
revised financial statements. This guidance was effective immediately and we
adopted these new requirements for the period ended June 30, 2010. The adoption
of this guidance did not have a material impact on our financial
statements.


7


ACCELERATED ACQUISITIONS I,
INC.


A
Development Stage Company


NOTES TO FINANCIAL
STATEMENTS


JUNE 30,
2010





In
February 2010, the FASB (Financial Accounting Standards Board) issued Accounting
Standards Update 2010-08 (ASU 2010-08), Technical Corrections to Various Topics.
This amendment eliminated inconsistencies and outdated provisions and provided
the needed clarifications to various topics within Topic 815.  The
amendments are effective for the first reporting period (including interim
periods) beginning after issuance (February 2, 2010), except for certain
amendments.  The amendments to the guidance on accounting for income
taxes in a reorganization (Subtopic 852-740) should be applied to
reorganizations for which the date of the reorganization is on or after the
beginning of the first annual reporting period beginning on or after December
15, 2008.  For those reorganizations reflected in interim financial
statements issued before the amendments in this Update are effective,
retrospective application is required.  The clarifications of the
guidance on the embedded derivates and hedging (Subtopic 815-15) are effective
for fiscal years beginning after December 15, 2009, and should be applied to
existing contracts (hybrid instruments) containing embedded derivative features
at the date of adoption.  The Company does not expect the provisions
of ASU 2010-08 to have a material effect on the financial position, results of
operations or cash flows of the Company.





In
January 2010, the FASB (Financial Accounting Standards Board) issued Accounting
Standards Update 2010-07 (ASU 2010-07), Not-for-Profit Entities (Topic 958):
Not-for-Profit Entities: Mergers and Acquisitions.  This amendment to
Topic 958 has occurred as a result of the issuance of FAS 164.  The
Company does not expect the provisions of ASU 2010-07 to have a material effect
on the financial position, results of operations or cash flows of the
Company.





In
January 2010, the FASB (Financial Accounting Standards Board) issued Accounting
Standards Update 2010-06 (ASU 2010-06), Fair Value Measurements and Disclosures
(Topic 820): Improving Disclosures about Fair Value
Measurements.  This amendment to Topic 820 has improved disclosures
about fair value measurements on the basis of input received from the users of
financial statements.  This is effective for interim and annual
reporting periods beginning after December 15, 2009, except for the disclosures
about purchases, sales, issuances, and settlements in the roll forward of
activity in Level 3 fair value measurements.  Those disclosures are
effective for fiscal years beginning after December 15, 2010, and for interim
periods within those fiscal years.  Early adoption is
permitted.  The Company does not expect the provisions of ASU 2010-06
to have a material effect on the financial position, results of operations or
cash flows of the Company.





In
January 2010, the FASB (Financial Accounting Standards Board) issued Accounting
Standards Update 2010-05 (ASU 2010-05), Compensation – Stock Compensation (Topic
718).  This standard codifies EITF Topic D-110 Escrowed Share
Arrangements and the Presumption of Compensation.





In
January 2010, the FASB (Financial Accounting Standards Board) issued Accounting
Standards Update 2010-04 (ASU 2010-04), Accounting for Various Topics—Technical
Corrections to SEC Paragraphs.





In
January 2010, the FASB (Financial Accounting Standards Board) issued Accounting
Standards Update 2010-03 (ASU 2010-03), Extractive Activities—Oil and Gas (Topic
932): Oil and Gas Reserve Estimation and Disclosures.  This amendment
to Topic 932 has improved the reserve estimation and disclosure requirements by
(1) updating the reserve estimation requirements for changes in practice and
technology that have occurred over the last several decades and (2) expanding
the disclosure requirements for equity method investments.  This is
effective for annual reporting periods ending on or after December 31,
2009.  However, an entity that becomes subject to the disclosures
because of the change to the definition oil- and gas- producing activities may
elect to provide those disclosures in annual periods beginning after December
31, 2009.  Early adoption is not permitted.  The Company
does not expect the provisions of ASU 2010-03 to have a material effect on the
financial position, results of operations or cash flows of the
Company.


8


ACCELERATED ACQUISITIONS I,
INC.


A
Development Stage Company


NOTES TO FINANCIAL
STATEMENTS


JUNE 30,
2010





In
January 2010, the FASB issued Accounting Standards Update 2010-02, Consolidation
(Topic 810): Accounting and Reporting for Decreases in Ownership of a
Subsidiary.  This amendment to Topic 810 clarifies, but does not
change, the scope of current US GAAP.  It clarifies the decrease in
ownership provisions of Subtopic 810-10 and removes the potential conflict
between guidance in that Subtopic and asset derecognition and gain or loss
recognition guidance that may exist in other US GAAP.  An entity will
be required to follow the amended guidance beginning in the period that it first
adopts FAS 160 (now included in Subtopic 810-10).  For those entities
that have already adopted FAS 160, the amendments are effective at the beginning
of the first interim or annual reporting period ending on or after December 15,
2009. The amendments should be applied retrospectively to the first period that
an entity adopted FAS 160.  The Company does not expect the provisions
of ASU 2010-02 to have a material effect on the financial position, results of
operations or cash flows of the Company.





In
January 2010, the FASB issued Accounting Standards Update 2010-01, Equity (Topic
505): Accounting for Distributions to Shareholders with Components of Stock and
Cash (A Consensus of the FASB Emerging Issues Task Force).  This
amendment to Topic 505 clarifies the stock portion of a distribution to
shareholders that allows them to elect to receive cash or stock with a limit on
the amount of cash that will be distributed is not a stock dividend for purposes
of applying Topics 505 and 260. Effective for interim and annual periods ending
on or after December 15, 2009, and would be applied on a retrospective
basis.  The Company does not expect the provisions of ASU 2010-01 to
have a material effect on the financial position, results of operations or cash
flows of the Company.





NOTE 4       -
            MATERIAL
      CONTRACTS:





On June
23, 2010, Mutual Gain Hong Kong, Limited. (“Mutual Gain”) agreed to acquire
23,850,000 shares of the Company’s common stock par value $0.0001 (the “Shares”)
for a price of $0.0001 per share. At the same time, Accelerated Venture
Partners, LLC agreed to tender 3,500,000 of its 5,000,000 shares of the
Company’s common stock par value $0.0001 for cancellation. As a part of this
transaction and in partial consideration for its purchase of the Shares, Mutual
Gain caused Oro-East Mining Company, LTD (“Oro”) to enter into the Assignment of
Rights Agreement with the Company (see below). Following these transactions,
Mutual Gain Hong Kong, Limited owned 94.1% of the Company’s 25,350,000, issued
and outstanding shares of common stock par value $0.0001 and the interest of
Accelerated Venture Partners, LLC was reduced to approximately 5.9% of the total
issued and outstanding shares. Simultaneously with the share purchase, Timothy
Neher resigned from the Company’s Board of Directors effective immediately and
Tian Qing Chen was simultaneously appointed to the Company’s Board of Directors.
Such action represented a change of control of the Company. The Purchaser used
its working capital to acquire the Shares. The Purchaser did not borrow any
funds to acquire the Shares.





Prior to
the purchase of the Shares, the Purchaser was not affiliated with the Company.
However, the Purchaser is now deemed an affiliate of the Company as a result of
its stock ownership interest in the Company. The purchase of the shares by the
Purchaser was completed pursuant to a written Subscription Agreement with the
Company. The purchase was not subject to any other terms and conditions other
than the sale of the Shares in exchange for the cash payment. The Company
intends to file a Certificate of Amendment to its Certificate of Incorporation
with the Secretary of State of Delaware in order to change its name to “Oro East
Mining Inc.”.





On June
24, 2010, the Company entered into a Consulting Services Agreement with
Accelerated Venture Partners LLC (“AVP”), a company controlled by Timothy J.
Neher. The agreement requires AVP to provide the Company with certain
consulting services in consideration of (a) an option granted by the
company to AVP to purchase 1,500,000 shares of the company’s common stock at a
price of $0.0001 per share (which option was immediately exercised by the
holder) subject to a repurchase option granted to the company to repurchase the
shares in the event the Company fails to complete funding as detailed in the
agreement and (b) cash compensation at a rate of $133,333 per month. The payment
of such compensation is subject to the company’s achievement of certain
designated milestones detailed in the agreement and a company option to make a
lump sum payment to AVP in lieu of all amounts payable
thereunder.


9


ACCELERATED ACQUISITIONS I,
INC.


A
Development Stage Company


NOTES TO FINANCIAL
STATEMENTS


JUNE 30,
2010





NOTE 5       -
            SUBSEQUENT
      EVENTS:





On July
2, 2010, the Company entered into an Assignment of Rights Agreement (“Rights
Agreement”) with Oro-East Mining Co., LTD (“Oro”).  Pursuant to the
terms of the Rights Agreement, Oro assigned to the Company certain rights and
obligations with respect to the permitted mining claims described in the Rights
Agreement.  Pursuant to the Rights Agreement, the Company will assume
the rights and obligations of Oro to explore, extract, refine and produce
precious metals and other industrial deposits on the claims and earn fees with
respect to such services.  By entering into the Rights Agreement, the
Company commenced business as an exploration, mining, refinery and production
company. The Company intends to focus on extracting gold, silver, copper, iron
ore and other industrial minerals to primarily meet the demands of Chinese
Government and companies for the mined minerals.





On July
6, 2010, the company completed a private offering of its common shares under the
provisions of the Delaware securities laws and under a Regulation D exemption
with respect to the federal securities laws. The Company sold a total of 98,500
common shares at a price of $2.00 per share to a total of 32 investors. The
Company raised a total of $197,000 in this offering.


10


Item
2. Management’s Discussion and Analysis of Financial Condition and Results of
Operations.





From
inception (February 15, 2008), the Company was organized as a vehicle to
investigate and, if such investigation warrants, acquire or merge with a target
company or business seeking the perceived advantages of being a publicly held
corporation.





On July
2, 2010 the Company changed its business plan to become an exploration and
refining company for the mining of gold, copper, and other precious or
industrial mineral deposits through the acquisition of certain rights in the
Republic of the Philippines. On that date, the Company entered into an
Assignment of Rights Agreement (“Rights Agreement”) with Oro-East Mining Company
LTD.  Pursuant to the terms of the Rights Agreement, Oro assigned to
the Company certain rights and obligations with respect to the permitted mining
claims described in the Rights Agreement.  Pursuant to the Rights
Agreement, the Company will assume the rights and obligations of Oro to explore,
extract, refine and produce precious metals and other industrial deposits on the
claims and earn fees with respect to such services.  By entering into
the Rights Agreement, the Company commenced business as an exploration, mining,
refinery and production company. The Company intends to focus on extracting
gold, silver, copper, iron ore and other industrial minerals to primarily meet
the demands of Chinese Government and companies for the mined
minerals.





On July
6, 2010, the company completed a private offering of its common shares under the
provisions of the Delaware securities laws and under a Regulation D exemption
with respect to the federal securities laws. We sold a total of 98,500 common
shares at a price of $2.00 per share to a total of 32 investors. The Company
raised a total of $197,000 in this offering.





Results of
Operations





For the
three months ending June 30, 2010, the Company had no revenues and incurred
general and administrative expenses of $3,990, compared to no revenues and
general and administrative expenses of $2,035 for the corresponding period of
2009.





For the
six months ending June 30, 2010, the Company had no revenues and incurred
general and administrative expenses of $4,190, compared to no revenues and
general and administrative expenses of $3,785 for the corresponding period of
2009.





For the
period from inception (February 15, 2008) through June 30, 2010, the Company had
no activities that produced revenues from operations and had a net loss of
$(21,818), due to legal, accounting, audit and other professional service fees
incurred in relation to the formation of the Company and the filing of the
Company’s Registration Statement on Form 10 filed in August 2008 and other
SEC-related compliance matters.





Liquidity
and Capital Resources





As of
June 30, 2010, the Company had assets equal to $0 and had current liabilities of
$13,818.





The
following is a summary of the Company's cash flows from operating, investing,
and financing activities:


11


For the
Cumulative Period from Inception (February 15, 2008) through June 30,
2010




Operating
      activities
                    
                    $
                    (17,828
                    )Investing
      activities
                    
                    
                    -Financing
      activities
                    
                    $
                    17,828Net
      effect on cash
                    
                    $
                    -




The
Company has nominal assets and has generated no revenues since inception. The
Company is also dependent upon the receipt of capital investment or other
financing to fund its ongoing operations and to execute its business plan of
seeking a combination with a private operating company. If continued funding and
capital resources are unavailable at reasonable terms, the Company may not be
able to implement its plan of operations.





Off-Balance
Sheet Arrangements




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 is
material to investors.





ITEM
3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK





As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide information required by this Item.




ITEM
4T.      Controls and Procedures





Evaluation
of Disclosure Controls and Procedures





Under the
supervision and with the participation of our management, including our
principal executive officer and principal financial officer, we conducted an
evaluation of our disclosure controls and procedures, as such term is defined
under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities
Exchange Act of 1934, as amended (Exchange Act), as of June 30, 2010. Based on
this evaluation, our principal executive officer and principal financial officer
has concluded that our disclosure controls and procedures are effective to
ensure that information required to be disclosed by us in the reports we file or
submit 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 and that our disclosure and controls are designed to ensure that
information required  to  be disclosed by us in the reports
that we file or submit under the Exchange Act is  accumulated and
communicated to our management, including our principal executive officer and
principal  financial  officer,  or  persons
performing  similar  functions,  as appropriate to
allow timely decisions regarding required disclosure.




Changes
in Internal Control Over Financial Reporting


12


There
were no changes (including corrective actions with regard to significant
deficiencies or material weaknesses) in our internal controls over financial
reporting that occurred during the second quarter of fiscal 2010 that has
materially affected, or is reasonably likely to materially affect, our internal
control over financial reporting.




PART II — OTHER
INFORMATION





Item
1. Legal Proceedings.





To the
best knowledge of the sole officer and sole director, the Company is not a party
to any legal proceeding or litigation.





Item
1A.  Risk Factors.





As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide information required by this Item





Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.





On July
6, 2010, the company completed a private offering of its common shares under the
provisions of the Delaware securities laws and under a Regulation D exemption
with respect to the federal securities laws. The Company sold a total of 98,500
common shares at a price of $2.00 per share to a total of 32 investors. The
Company raised a total of $197,000 in this offering.  The company
intends to use the proceeds of the offering for working capital.





Item 3. Defaults Upon Senior
Securities.





None.





Item 4. (Removed and
Reserved)





None.





Item 5. Other
Information.





Subsequent
Events.





On July
2, 2010, the Company entered into an Assignment of Rights Agreement (“Rights
Agreement”) with Oro-East Mining Co., LTD (“Oro”).  Pursuant to the
terms of the Rights Agreement, Oro assigned to the Company certain rights and
obligations with respect to the permitted mining claims described in the Rights
Agreement.  Pursuant to the Rights Agreement, the Company will assume
the rights and obligations of Oro to explore, extract, refine and produce
precious metals and other industrial deposits on the claims and earn fees with
respect to such services.  By entering into the Rights Agreement, the
Company commenced business as an exploration, mining, refinery and production
company. The Company intends to focus on extracting gold, silver, copper, iron
ore and other industrial minerals to primarily meet the demands of Chinese
Government and companies for the mined minerals.





On July
13, 2010, the Company filed a registration Statement on Form S-1 with respect to
the sale of 200,500 shares at an offering price of $2.00 per
share.  As of this date, the registration statement has not been
declared effective by the U.S. Securities and Exchange
Commission.


13


Item
6. Exhibits.




Exhibit
                No.
              
              Description31.1
              
              Certification
      of the Company’s Principal Executive Officer pursuant to Section 302 of
      the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly
      Report on Form 10-Q for the quarter ended June 30,
2010.31.2
              
              Certification
      of the Company’s Principal Financial Officer pursuant to Section 302 of
      the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly
      Report on Form 10-Q for the quarter ended June 30,
2010.32.1
              
              Certification
      of the Company’s Principal Executive Officer and Principal Financial
      Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
      906 of the Sarbanes Oxley Act of
2002.





SIGNATURES





In
accordance with the requirements of the Exchange Act, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.




Dated:
      August 20, 2010ACCELERATED
      ACQUISITIONS I, INC.By:
                  /s/Tian Q
    ChenTian
      Q ChenChief
      Executive
Officer


14


EXHIBIT
INDEX





Exhibit
                      No.
                    
                    Description31.1
                    
                    Certification
      of the Company’s Principal Executive Officer pursuant to Section 302 of
      the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly
      Report on Form 10-Q for the quarter ended June 30,
2010.31.2
                    
                    Certification
      of the Company’s Principal Financial Officer pursuant to Section 302 of
      the Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly
      Report on Form 10-Q for the quarter ended June 30,
2010.32.1
                    
                    Certification
      of the Company’s Principal Executive Officer and Principal Financial
      Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
      906 of the Sarbanes Oxley Act of
2002.


15