---




UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-QSB/A

(Mark One)

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

For the quarter ended June 30, 2006

OR

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

For the transition period from __________ to ______________

Commission File Number **333-120926**

SOLAR ENERTECH CORP.(Exact name of registrant as specified in its charter)

|Nevada                         | 98-0434357         
|------------------------------ | -------------------
|State or other jurisdiction of | (I.R.S. Employer   
|incorporation or organization  | Identification No.)

**1600 Adams Drive Menlo Park, CA 94025**(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code **(650)
  688-5800**

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

Indicate by check mark whether the registrant (1) has filed all
  reports required to be filed by Section 13 or 
  15(d) of the Securities Exchange Act of 1934 during the preceding 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 []

Number of shares outstanding of Registrant’s class of common
  stock as of August 12 , 2006: **75,594,512**

Authorized share capital of the registrant: 200,000,000
  common shares , par value of $0.001

The Company recorded $0 revenue for the quarter ended June 30,
  2006

---

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

|                                         | Page Number
|---------------------------------------- | -----------
|                                         |            
|Balance Sheet                            | F-2        
|                                         |            
|Statements of Operations                 | F-3        
|                                         |            
|Statement of Cash Flows                  | F-4        
|                                         |            
|Statements of Stockholders
      Equity | F-5        
|                                         |            
|Notes to the Financial
      Statements  | F-6        

2

---

|SOLAR ENERTECH CORP.                           
|-----------------------------------------------
|(Formerly Safer Residence Corporation)         
|(A Development Stage Company)                  
|                                               
|THIRD QUARTER CONSOLIDATED FINANCIAL STATEMENTS
|                                               
|JUNE 30, 2006                                  
|(Stated in U.S. Dollars)                       
|(Unaudited)                                    



F-1

---

|SOLAR ENERTECH CORP.                  
|--------------------------------------
|(Formerly Safer Residence Corporation)
|(A Development Stage Company)         
|                                      
|INTERIM CONSOLIDATED BALANCE SHEETS   
|(Stated in U.S. Dollars)              
|(Unaudited)                           

|                                                              |   | JUNE 30   |   |   | SEPTEMBER 30 |  
|------------------------------------------------------------- | - | --------- | - | - | ------------ | -
|                                                              |   | 2006      |   |   | 2005         |  
|                                                              |   |           |   |   |              |  
|                                                              |   |           |   |   |              |  
|ASSETS                                                        |   |           |   |   |              |  
|                                                              |   |           |   |   |              |  
|Current                                                       |   |           |   |   |              |  
|Cash and cash equivalents                                     | $ | 2,856,338 |   | $ | 48,401       |  
|Accounts Receivable                                           |   | 1,738     |   |   | -            |  
|Prepaid expenses                                              |   | 30,326    |   |   | -            |  
|                                                              |   | 2,888,402 |   |   | 48,401       |  
|                                                              |   |           |   |   |              |  
|Fixed Assets -Note 3                                          |   |           |   |   |              |  
|Furniture and equipment,
      net                            |   | 8,506     |   |   | 7,592        |  
|Office leasehold improvements                                 |   | 10,647    |   |   | -            |  
|Plant leasehold
      improvements  construction in progress |   | 322,424   |   |   | -            |  
|                                                              |   | 341,577   |   |   | 7,592        |  
|Other Assets                                                  |   |           |   |   |              |  
|Deposit on leased factory
       Note 8                      |   | 33,826    |   |   | -            |  
|                                                              |   |           |   |   |              |  
|                                                              | $ | 3,263,805 |   | $ | 55,993       |  
|                                                              |   |           |   |   |              |  
|LIABILITIES                                                   |   |           |   |   |              |  
|                                                              |   |           |   |   |              |  
|Current                                                       |   |           |   |   |              |  
|Accounts payable
      and accrued liabilities                |   | 142,594   |   |   | 3,400        |  
|Note payable  Note 4                                         |   | 100,000   |   |   | -            |  
|Due to related parties
       Note 5                         |   | 461,980   |   |   | -            |  
|                                                              | $ | 704,574   |   | $ | 3,400        |  
|                                                              |   |           |   |   |              |  
|STOCKHOLDERS EQUITY                                          |   |           |   |   |              |  
|                                                              |   |           |   |   |              |  
|Capital Stock Note 6                                         |   |           |   |   |              |  
|Authorized:                                                   |   |           |   |   |              |  
|200,000,000 common shares, par value $0.001 per share         |   |           |   |   |              |  
|Issued and outstanding:                                       |   |           |   |   |              |  
|75,523,012 common shares at June 30, 2006                     |   |           |   |   |              |  
|136,400,000 common shares at September 30, 2005               |   | 75,523    |   |   | 136,400      |  
|Additional paid-in capital - shares                           |   | 1,840,741 |   |   | (33,400      | )
|Additional paid-in
      capital - warrants                   |   | 1,009,736 |   |   | -            |  
|Deficit Accumulated During the Development Stage              |   | (366,769  | ) |   | (50,407      | )
|                                                              |   | 2,559,231 |   |   | 52,593       |  
|                                                              |   |           |   |   |              |  
|                                                              | $ | 3,263,805 |   | $ | 55,993       |  

The accompanying notes are an integral part of the consolidated
  financial statements.

F-2

---

|SOLAR ENERTECH CORP.                        
|--------------------------------------------
|(Formerly Safer Residence Corporation)      
|(A Development Stage Company)               
|                                            
|INTERIM CONSOLIDATED STATEMENT OF OPERATIONS
|(Stated in U.S. Dollars)                    
|(Unaudited)                                 

|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   | CUMULATIVE          |  
|----------------------------------- | - | ------------------ | - | - | ----------------- | - | - | --------------- | - | - | ----------- | - | - | ------------------- | -
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   | PERIOD FROM         |  
|                                    |   | THREE MONTHS ENDED |   |   | NINE MONTHS ENDED |   |   | INCEPTION ON    |  
|                                    |   | JUNE 30            |   |   | JUNE 30           |   |   | JULY 7, 2004 TO |  
|                                    |   | 2006               |   |   | 2005              |   |   | 2006            |   |   | 2005        |   |   | JUNE
      30, 2006 |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Revenue                             | $ | -                  |   | $ | -                 |   | $ | -               |   | $ | -           |   | $ | -                   |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Expenses                            |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Amortization                        | $ | 1,029              |   | $ | -                 |   | $ | 2,227           |   | $ | -           |   | $ | 2,627               |  
|Interest expense                    |   | 1,160              |   |   | -                 |   |   | 1,160           |   |   | -           |   |   | 1,160               |  
|Investor relations                  |   | 31,291             |   |   | -                 |   |   | 31,291          |   |   | -           |   |   | 31,291              |  
|Management fees  Note 5            |   | 9,000              |   |   | -                 |   |   | 12,000          |   |   | -           |   |   | 12,000              |  
|Marketing                           |   | 10,000             |   |   | -                 |   |   | 10,000          |   |   | -           |   |   | 39,068              |  
|Office and administration           |   | 53,828             |   |   | 697               |   |   | 58,956          |   |   | 846         |   |   | 63,473              |  
|Organizational costs                |   | -                  |   |   | -                 |   |   | -               |   |   | -           |   |   | 936                 |  
|Professional fees                   |   | 36,841             |   |   | 1,979             |   |   | 48,556          |   |   | 10,986      |   |   | 64,042              |  
|Promotion and advertising           |   | 9,054              |   |   | -                 |   |   | 9,054           |   |   | -           |   |   | 9,054               |  
|Registration and filing fees        |   | 21,851             |   |   | -                 |   |   | 21,851          |   |   | -           |   |   | 21,851              |  
|Rent                                |   | 90,702             |   |   | -                 |   |   | 90,702          |   |   | -           |   |   | 90,702              |  
|Transfer agent fees                 |   | 1,925              |   |   | -                 |   |   | 1,925           |   |   | -           |   |   | 1,925               |  
|Travel                              |   | 17,765             |   |   | -                 |   |   | 17,765          |   |   | -           |   |   | 17,765              |  
|Website development and maintenance |   | 10,875             |   |   |                   |   |   | 10,875          |   |   |             |   |   | 10,875              |  
|                                    |   | 295,321            |   |   | 2,676             |   |   | 316,362         |   |   | 11,832      |   |   | 366,769             |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Net Loss for the Period             | $ | (295,321           | ) | $ | (2,676            | ) | $ | (316,362        | ) | $ | (11,832     | ) | $ | (366,769            | )
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Basic and Diluted Loss per Share    | $ | (0.001             | ) | $ | (0.001            | ) | $ | (0.001          | ) | $ | (0.001      | ) |   |                     |  
|                                    |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Weighted Average Number of Shares   |   |                    |   |   |                   |   |   |                 |   |   |             |   |   |                     |  
|Outstanding *                       |   | 73,579,474         |   |   | 101,200,000       |   |   | 107,293,159     |   |   | 101,200,000 |   |   |                     |  

| | * | The weighted average number of shares outstanding for
        the prior years had been retroactively restated to reflect a forward stock
        split of 44 new shares for one old share, effective February 27, 2006
        (Note 6).
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The accompanying notes are an integral part of the consolidated
  financial statements.

F-3

---

|SOLAR ENERTECH CORP.                        
|--------------------------------------------
|(Formerly Safer Residence Corporation)      
|(A Development Stage Company)               
|                                            
|INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS
|(Stated in U.S. Dollars)                    
|(Unaudited)                                 

|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   | CUMULATIVE          |  
|---------------------------------------- | - | ------------------ | - | - | ----------------- | - | - | ------------ | - | - | ------- | - | - | ------------------- | -
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   | PERIOD FROM         |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   | INCEPTION ON        |  
|                                         |   | THREE MONTHS ENDED |   |   | NINE MONTHS ENDED |   |   | JULY 7, 2004 |  
|                                         |   | JUNE 30            |   |   | JUNE 30           |   |   | TO           |  
|                                         |   | 2006               |   |   | 2005              |   |   | 2006         |   |   | 2005    |   |   | JUNE
      30, 2006 |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Cash Flows from Operation Activity       |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Net Loss for the Period                  | $ | (295,321           | ) | $ | (2,676            | ) | $ | (316,362     | ) | $ | (11,832 | ) | $ | (366,769            | )
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Adjustments to reconcile net loss to net |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|cash used in operating activities        |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Amortization                             |   | 1,029              |   |   | -                 |   |   | 2,227        |   |   | -       |   |   | 2,627               |  
|Accounts receivable                      |   | (1,738             | ) |   | -                 |   |   | (1,738       | ) |   | -       |   |   | (1,738              | )
|Prepaid expenses                         |   | (30,326            | ) |   | (561              | ) |   | (30,326      | ) |   | (561    | ) |   | (30,326             | )
|Deposit on leased factory                |   | (33,826            | ) |   | -                 |   |   | (33,826      | ) |   | -       |   |   | (33,826             | )
|Accounts payable and accrued liabilities |   | 145,385            |   |   | (1,045            | ) |   | 151,194      |   |   | (1,100  | ) |   | 154,594             |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|                                         |   | (214,797           | ) |   | (4,282            | ) |   | (228,831     | ) |   | (13,493 | ) |   | (275,438            | )
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Cash Flows Used in Investing Activity    |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Additions to fixed assets                |   | (2,798             | ) |   | -                 |   |   | (2,798       | ) |   | -       |   |   | (10,790             | )
|Office leasehold improvements            |   | (10,990            | ) |   | -                 |   |   | (10,990      | ) |   | -       |   |   | (10,990             | )
|Plant leasehold improvements             |   | (322,424           | ) |   | -                 |   |   | (322,424     | ) |   | -       |   |   | (322,424            | )
|                                         |   | (336,212           | ) |   |                   |   |   | (336,212     | ) |   |         |   |   | (344,204            | )
|Cash Flows from Financing Activity       |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Increase in note payable                 |   | 100,000            |   |   | -                 |   |   | 100,000      |   |   | -       |   |   | 100,000             |  
|Due to related parties                   |   | 449,980            |   |   | -                 |   |   | 449,980      |   |   | -       |   |   | 449,980             |  
|Issuance of common shares                |   | 2,823,000          |   |   | -                 |   |   | 2,823,000    |   |   | -       |   |   | 2,926,000           |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|                                         |   | 3,372,980          |   |   | -                 |   |   | 3,372,980    |   |   | -       |   |   | 3,475,980           |  
|Increase (Decrease) in Cash During the   |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Period                                   |   | 2,821,971          |   |   | (4,282            | ) |   | 2,807,937    |   |   | (13,493 | ) |   | 2,856,338           |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Cash, Beginning of Period                |   | 34,367             |   |   | 12,588            |   |   | 48,401       |   |   | 21,799  |   |   | -                   |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Cash, End of Period                      | $ | 2,856,338          |   | $ | 8,306             |   | $ | 2,856,338    |   | $ | 8,306   |   | $ | 2,856,338           |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|                                         |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Supplemental Disclosure of Cash Flow     |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Information                              |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Cash paid for:                           |   |                    |   |   |                   |   |   |              |   |   |         |   |   |                     |  
|Interest                                 | $ | -                  |   | $ | -                 |   | $ | -            |   | $ | -       |   | $ | -                   |  
|Income taxes                             | $ | -                  |   | $ | -                 |   | $ | -            |   | $ | -       |   | $ | -                   |  

The accompanying notes are an integral part of the consolidated
  financial statements.

F-4

---

|SOLAR ENERTECH CORP.                                         
|-------------------------------------------------------------
|(Formerly Safer Residence Corporation)                       
|(A Development Stage Company)                                
|                                                             
|INTERIM CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY       
|PERIOD FROM INCEPTION, JULY 7, 2004,
        TO JUNE 30, 2006
|(Stated in U.S. Dollars)                                     
|(Unaudited)                                                  

|                                          |  | CAPITAL STOCK |   |   |         |   |   |                        |   |   |                 |  |   |                 |  
|----------------------------------------- |  | ------------- | - | - | ------- | - | - | ---------------------- | - | - | --------------- |  | - | --------------- | -
|                                          |  |               |   |   |         |   |   |                        |   |   |                 |  |   |                 |  
|                                          |  |               |   |   |         |   |   | **ADDITIONAL PAID-IN** |   |   | **DEFICIT**     |  |   |                 |  
|                                          |  | NUMBER        |   |   |         |   |   | CAPITAL                |   |   | **ACCUMULATED** |  |   |                 |  
|                                          |  | OF            |   |   | AMOUNT  |   |   |                        |   |   |                 |  |   | DURINGTHE       |  
|                                          |  | SHARES        |   |   |         |   |   | SHARES                 |   |   | WARRANTS        |  |   | **DEVELOPMENT** |  
|                                          |  |               |   |   |         |   |   |                        |   |   |                 |  |   | STAGE           |  
|Inception, July 7, 2004                   |  |               |   | $ | -       |   | $ | -                      |   | $ | -               |  | $ | -               |  
|July 7, 2004  Shares issued for cash     |  |               |   |   |         |   |   |                        |   |   |                 |  |   |                 |  
|at
      $0.000227273                     |  | 74,800,000    |   |   | 74,800  |   |   | (57,800                | ) |   | -               |  |   | -               |  
|August 20, 2004  Shares issued for cash  |  |               |   |   |         |   |   |                        |   |   |                 |  |   |                 |  
|at
      $0.000227273                     |  | 26,400,000    |   |   | 26,400  |   |   | (20,400                | ) |   | -               |  |   | -               |  
|Net Loss for the period                   |  | -             |   |   | -       |   |   | -                      |   |   | -               |  |   | (2,701          | )
|Balance, September 30, 2004               |  | 101,200,000   |   |   | 101,200 |   |   | (78,200                | ) |   | -               |  |   | (2,701          | )
|August 23, 2005  Shares issued for cash  |  |               |   |   |         |   |   |                        |   |   |                 |  |   |                 |  
|at
      $0.000227273                     |  | 35,200,000    |   |   | 35,200  |   |   | 44,800                 |   |   | -               |  |   | -               |  
|Net Loss for the year                     |  | -             |   |   | -       |   |   | -                      |   |   | -               |  |   | (47,706         | )
|Balance  September, 30, 2005             |  | 136,400,000   |   |   | 136,400 |   |   | (33,400                | ) |   | -               |  |   | (50,407         | )
|Capital Stock returned to the treasury    |  | (63,699,988   | ) |   | (63,700 | ) |   | 63,700                 |   |   | -               |  |   | -               |  
|May 2006  Shares issued for cash @ $1.00 |  | 1,000,000     |   |   | 1,000   |   |   | 707,731                |   |   | 291,269         |  |   | -               |  
|June 2006  Share issued for cash @ $1.00 |  | 1,823,000     |   |   | 1,823   |   |   | 1,102,710              |   |   | 718,467         |  |   | -               |  
|Net Loss for the period                   |  | -             |   |   | -       |   |   | -                      |   |   | -               |  |   | (316,362        | )
|Balance  June 30, 2006                   |  | 75,523,012    |   | $ | 75,523  |   | $ | 1,840,741              |   | $ | 1,009,736       |  | $ | (366,769        | )

| | * | The common stock issued has been retroactively restated
        to reflect a forward stock split of 44 new shares for one old share, effective
        February 27, 2006 (Note 6).
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The accompanying notes are an integral part of the consolidated
  financial statements.

F-5

---

|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

|1. | BASIS OF PRESENTATION AND NATURE OF OPERATIONS
|-- | ----------------------------------------------
|   |                                               
|   | a)                                            
|   |                                               
|   |                                               
|   |                                               
|   | b)                                            
|   |                                               
|   |                                               
|   |                                               
|   |                                               
|   |                                               
|   | c)                                            
|   |                                               
|   |                                               

F-6

---

|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

|1. | BASIS OF PRESENTATION AND NATURE OF OPERATIONS
        (Cont.d)
|-- | ---------------------------------------------------------------
|   |                                                                
|   | d)                                                             
|   |                                                                
|   |                                                                
|   |                                                                
|   |                                                                
|   |                                                                
|2. | SIGNIFICANT ACCOUNTING POLICIES                                
|   |                                                                
|   |                                                                
|   |                                                                
|   |                                                                
|   |                                                                
|   | a)                                                             
|   |                                                                
|   |                                                                

F-7

---

|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

|2. | SIGNIFICANT ACCOUNTING POLICIES (Contd)
|-- | ----------------------------------------
|   |                                         
|   | b)                                      
|   |                                         
|   |                                         
|   |                                         
|   | b)                                      
|   |                                         
|   |                                         
|   |                                         
|   | c)                                      
|   |                                         
|   |                                         
|   |                                         
|   | d)                                      
|   |                                         
|   |                                         
|   |                                         
|   |                                         
|   |                                         
|   | e)                                      
|   |                                         
|   |                                         

F-8

---

|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

|2. | SIGNIFICANT ACCOUNTING POLICIES (Contd)
|-- | ----------------------------------------
|   |                                         
|   | f)                                      
|   |                                         
|   |                                         
|   |                                         
|   | g)                                      
|   |                                         
|   |                                         
|   |                                         
|3. | FIXED ASSETS:                           

|                       |   | JUNE 30     |  |   |              |  |   | SEPTEMBER | 
|---------------------- | - | ----------- |  | - | ------------ |  | - | --------- | 
|                       |   |             |  |   |              |  |   |           | 
|                       |   | 2006        |  |   |              |  |   | 2005      | 
|                       |   | (Unaudited) |  |   |              |  |   | (Audited) | 
|                       |   |             |  |   | Accumulated  |  |   | Net book  | 
|                       |   | Cost        |  |   | Depreciation |  |   | Value     | 
|Equipment              | $ | 7,992       |  | $ | 2,198        |  | $ | 5,794     | 
|Office Furniture       |   | 2,798       |  |   | 86           |  |   | 2,712     | 
|Leasehold Improvements |   |             |  |   |              |  |   |           | 
|Office                 |   | 10,990      |  |   | 343          |  |   | 10,647    | 
|Plant (construction in |   |             |  |   |              |  |   |           | 
|progress)              |   | 322,424     |  |   | -            |  |   | 322,424   | 
|                       |   |             |  |   |              |  |   |           | 
|Total                  | $ | 344,204     |  | $ | 2,627        |  | $ | 341,577   | 

In connection with the Plant Leasehold Improvements currently
  in progress, the Companys remaining commitment amount under its construction
  contracts with third parties is $277,559 as at June 30, 2006.

F-9

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|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

|4. | NOTE PAYABLE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | On May 8, 2006, a loan payable in the amount of $100,000
        secured by a promissory note, bearing interest at 10% per annum was received.
        Principal and accrued interest payable are payable on demand. Accrued
        interest is included with accrued liabilities on the interim consolidated
        balance sheet.                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|5. | RELATED PARTY TRANSACTIONS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | During the period ended June 30 2006, $12,000 was accrued
        to a director for management of the Companys affairs (2005 - $nil).
        As at June 30, 2006, $12,000 is owed to a director and $449,980, a loan
        with no fixed term, no terms of payment and no interest rate, is owed
        to a company owned by a director to fund the initial start-up costs in
        China (2005 - $nil).                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | On March 1, 2006, the Company entered into a contract
        for management services with a director and officer of the Company requiring
        the payment of $3,000 per month for a period of two years, expiring on
        February 28, 2008. This commitment can be terminated by either the Company
        or the director with 30 days notice.                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|6. | CAPITAL STOCK                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | On February 24, 2006, 3 previous directors returned
        1,447,727 (pre-forward stock split) common shares to the treasury for
        cancellation. Effective February 27, 2006, the Company forward split its
        issued common shares on the basis of forty-four new shares for one old
        share. The number of shares referred to in these consolidated financial
        statements has been restated wherever applicable, except where noted,
        to give retroactive effect on the forward stock split.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | The retroactive restatement of the issued common shares
        is required by the Securities and Exchange Commissions Staff Accounting
        Bulletin, Topic 4(c). The number of common shares outstanding pre-forward
        stock split was 1,652,273 and after giving effect to the forward split,
        the outstanding common shares totaled 72,700,012.                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | On March 1, 2006, the Company authorized the increase
        of its authorized capital stock from 75,000,000 common shares with a par
        value of $0.001 to 200,000,000 common shares with a par value of $0.001.                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   | In May 2006, the Company issued 500,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on April 30, 2007. The Company
        received cash proceeds of $500,000 in May 2006.                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|6. | CAPITAL STOCK (Contd.)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

F-10

---

|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

|   | In May 2006, the Company issued 500,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on May 3, 2007. The Company
        received cash proceeds of $500,000 in May 2006.                                               
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | In June 2006, the Company issued 505,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on June 8, 2007. The Company
        received cash proceeds of $505,000 in June 2006.                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | In June 2006, the Company issued 850,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on June 20, 2007. The Company
        received cash proceeds of $850,000 in June 2006.                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | In June 2006, the Company issued 468,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on June 22, 2007. The Company
        received cash proceeds of $468,000 in June 2006.                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|7. | STOCK WARRANTS                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | The allocation of proceeds from the issue of capital
        stock units to the share purchase warrants is estimated using the Black-Scholes
        stock price valuation model with the following assumptions: i) Expected
        share price volatility  94.21% to 99.52%; ii) Risk free interest
        rate  4.5%; iii) Expected weighted average life  1 year; and
        iv) No dividend yield.
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | As of June 30, 2006, the Company had 2,823,000 warrants
        outstanding.                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|8. | COMMITMENTS                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | The Company has a plant lease for a term of three years
        from February 20, 2006 to February 19, 2009 at a monthly lease of US$16,913.
        It is renewable every 3 years with an adjustment in rental fee not to
        exceed 5% of the total rent of the previous year (3-year period). The
        termination clause in the agreement requires a notice of three months.                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | The Company also has an office lease for a term of two
        years from May 16, 2006 to May 15, 2008 at a monthly lease of US$5,195.
        It can be renewed with an advance notice of three months with possibility
        of rent adjustment. No termination is allowed in the agreement.                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                             
|   | In addition to the lease agreements, the Company has
        Property Management contracts for the plant and office at monthly fees
        of $1,060 and $902, respectively.                                                                                                                                                                                                                               

F-11

---

|SOLAR ENERTECH CORP.                              
|--------------------------------------------------
|(Formerly Safer Residence Corporation)            
|(A Development Stage Company)                     
|                                                  
|NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
|JUNE 30, 2006                                     
|(Unaudited)                                       
|(Stated in U.S. Dollars)                          

On May 1, 2006, the Company entered into a contract for investor
  relations services requiring the payment of $10,000 per month expiring on April
  30, 2008. This commitment can be terminated by either party with 90 days
  written notice.

The Companys minimum annual commitments under these agreements
  for each of the next five years and in total are as follows:

|Fiscal Year |   | Amount    |  |  |  | 
|----------- | - | --------- |  |  |  | 
|            |   |           |  |  |  | 
|2006        | $ | 210,262   |  |  |  | 
|2007        |   | 408,983   |  |  |  | 
|2008        |   | 331,306   |  |  |  | 
|2009        |   | 83,947    |  |  |  | 
|2010        |   | -         |  |  |  | 
|            | $ | 1,034,498 |  |  |  | 

|9. | SUBSEQUENT EVENTS
      On July 3, 2006, a note payable in the amount of $500,000,
        secured by a promissory note, bearing interest at 10% per annum, calculated
        annually was received from a third party. Principal and interest are payable
        on demand.
      On July 10, 2006, the Company sold 37,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on July 9, 2007. The Company
        received cash proceeds of $37,000 in July 2006.
      On July 11, 2006, the Company sold 20,000 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on July 10, 2007. The Company
        received cash proceeds of $20,000 in July 2006.
      On July 24, 2006, the Company sold 12,500 units at $1.00
        per unit. Each unit consisted of one common share and one common share
        purchase warrant entitling the holder to acquire an additional common
        share at an exercise price of $1.60, expiring on July 23, 2007. The Company
        received cash proceeds of $12,500 in July 2006.
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

F-12

---

Item 2. MANAGEMENT DISCUSSION AND ANALYSIS OR PLAN OF
OPERATIONS

We have not generated any revenues from products, services or
operations since the inception of our company. The foregoing analysis should be
read jointly with the financial statements, related notes, and the cautionary
statement regarding forward-looking statements, which appear elsewhere in this
filing.

As this Report on Form 10QSB represents a transitional filing
for the Company in that it has undertaken a new business, the Company is
presenting both a Plan of Operations and a Management Discussion and
Analysis.

The following Risk Factors summarize some of the risks inherent
in our business and to our company in particular:

Our limited operating history may not serve as an
adequate basis to judge our future prospects and results of
operations.

We have a limited operating history. As such, our historical
operating results may not provide a meaningful basis for evaluating our
business, financial performance and prospects. We may not be able to achieve a
similar growth rate in future periods. Accordingly, you should not rely on our
results of operations for any prior periods as an indication of our future
performance.

We have incurred losses in prior periods and may incur
losses in the future.

We incurred a net loss in all prior financial periods and we
  have not yet completed a financial quarter or year as a solar industry company.
  We expect our operating expenses to increase as we expand our operations. Our
  ability to achieve profitability depends on the growth rate of the PV (photovoltaic
  or solar power) market, the continued market acceptance of PV products, the
  competitiveness of products and services as well as our ability to provide new
  products and services to meet the demands of our customers.

3

---

Failure to obtain sufficient quantities of silicon and
  silicon wafers could decrease our revenues and limit our ability to expand as
  planned.

Silicon wafers are the most important raw materials for making
  PV products. To maintain competitive manufacturing operations, we will depend
  on our suppliers timely delivery of quality silicon wafers in sufficient
  quantities and at acceptable prices. Silicon wafer suppliers, in turn, depend
  on silicon manufacturers to supply silicon required for the production of silicon
  wafers. The significant growth of the PV industry has resulted in a significant
  increase in demand for silicon and silicon wafers, and some producers have,
  from time to time, experienced late delivery and supply shortages. In particular,
  some suppliers of silicon also supply to silicon wafer manufacturers for the
  semiconductor industry, which typically have greater buying power and market
  influence than manufacturers for the PV industry. As a result, increases in
  the demand for silicon from the semiconductor industry may in the future result
  in late deliveries or supply shortages with respect to the specialized silicon
  that silicon wafer suppliers need as raw materials. This could result in our
  reducing manufacturing output, assuming that manufacturing commences, delayed
  or missed shipments, damaged customer relationships and decreased revenues.

We may not be able to manage our expansion of operations
effectively.

We announced an entrance into the PV industry or solar industry
in March 2006. We anticipate significant continued expansion of our business to
address growth in demand for our PV products and services, as well as to capture
market opportunities. To manage the potential growth of our operations, we will
be required to improve our operational and financial systems, procedures and
controls, create manufacturing capacity and output, and hire, expand, train and
manage an employee base. Furthermore, our management will be required to create,
maintain and expand relationships with our customers, suppliers and other third
parties. We cannot assure you that our current and planned operations,
personnel, systems, internal procedures and controls will be adequate to support
future growth, if such growth occurs. If we are unable to manage our growth
effectively, we may not be able to take advantage of market opportunities,
execute our business strategies or respond to competitive pressures.

If PV technology is not suitable for widespread adoption,
or sufficient demand for PV products does not develop or takes longer to develop
than we anticipated, sales may not develop or continue to increase or may even
decline, and we may be unable to sustain profitability.

The PV market is at a relatively early stage of development and
the extent to which PV products will be widely adopted is uncertain. Market data
in the PV industry are not as readily available as those in other more
established industries where trends can be assessed more reliably from data
gathered over a longer period of time. If PV technology proves unsuitable for
widespread adoption or if demand for PV products fails to develop sufficiently,
we may not be able to grow our business or generate sufficient revenues to
sustain profitability. In addition, demand for PV products in targeted markets,
including China, may not develop or may develop to a lesser extent than we
anticipated. Many factors may affect the viability of widespread adoption of PV
technology and demand for PV products, including:

- cost-effectiveness of PV products compared to conventional and other
  non-solar energy sources and products;
- performance and reliability of PV products compared to conventional and
  other non-solar energy sources and products;
- availability of government subsidies and incentives to support the
  development of the PV industry;
- success of other alternative energy generation technologies, such as fuel
  cells, wind power and biomass;
- fluctuations in economic and market conditions that affect the viability of
  conventional and non- solar alternative energy sources, such as increases or
  decreases in the prices of oil and other fossil fuels;

4

---

- capital expenditures by end users of PV products, which tend to decrease
  when economy slows down; and
- deregulation of the electric power industry and broader energy industry.

We face intense competition from other companies
producing solar energy and other renewable energy products.

The PV market is intensely competitive and rapidly evolving.
According to Photon Internationals survey in March 2005, as of the end of 2004,
approximately 90 companies in the world produced PV cells and approximately 130
companies produced PV modules. Many of our competitors have established more
prominent market positions, and if we fail to attract and retain customers and
establish successful distribution networks in our target markets for our
anticipated products, we will be unable to create or increase our sales. Our
competitors include PV divisions of large conglomerates such as BP, Royal Dutch
Shell and Sharp Corporation, specialized cell and module manufacturers such as
Q-Cells, as well as integrated manufacturers of PV products such as SolarWorld
AG. Some of our competitors have also become vertically integrated, from
upstream silicon wafer manufacturing to PV system integration. We expect to
compete with future entrants to the PV market that offer new technological
solutions. We may also face competition from semiconductor manufacturers, a few
of which have already announced their intention to start production of PV cells.
Many of our competitors are developing or currently producing products based on
new PV technologies, including amorphous silicon, ribbon, sheet and nano
technologies, which they believe will ultimately cost the same as or less than
crystalline silicon technologies similar to ours. In addition, the entire PV
industry also faces competition from conventional and non-solar renewable energy
technologies. Due to the relatively high manufacturing costs compared to most
other energy sources, solar energy is generally not competitive without
government incentive programs.

Many of our existing and potential competitors have
substantially greater financial, technical, manufacturing and other resources
than we do. Our competitors greater size in some cases provides them with a
competitive advantage with respect to manufacturing costs because of their
economies of scale and their ability to purchase raw materials at lower prices.
For example, those of our competitors that also manufacture semiconductors may
source both semiconductor grade silicon wafers and solar grade silicon wafers
from the same supplier. As a result, those competitors may have stronger
bargaining power with the supplier and have an advantage over us in negotiating
favorable pricing, as well as securing silicon wafer supplies at times of
shortages. Many of our competitors also have greater brand name recognition,
more established distribution networks and larger customer bases. In addition,
many of our competitors have well-established relationships with our current and
potential distributors and have extensive knowledge of our target markets. As a
result, they may be able to devote greater resources to the research,
development, promotion and sale of their products or respond more quickly to
evolving industry standards and changes in market conditions than we can. Our
failure to adapt to changing market conditions and to compete successfully with
existing or new competitors may materially and adversely affect our financial
condition and results of operations.

Our failure to refine technology and develop and
introduce new PV products could render our anticipated products uncompetitive or
obsolete, and reduce our sales and market share, should we develop sales or
market share.

The PV industry is rapidly evolving and competitive. We will
need to invest significant financial resources in research and development to
keep pace with technological advances in the PV industry and to effectively
compete in the future. However, research and development activities are
inherently uncertain, and we might encounter practical difficulties in
commercializing our research results. Our significant expenditures on research
and development may not reap corresponding benefits. A variety of competing PV
technologies that other companies may develop could prove to be more
cost-effective and have better performance than our PV products. Therefore, our
development efforts may be rendered obsolete by the technological advances of
others. Breakthroughs in PV technologies that do not use crystalline silicon
could mean that companies such as us that rely entirely on crystalline silicon
would encounter a sudden, sharp drop in sales.

5

---

Our failure to further refine our technology and develop and
introduce new PV products could render our anticipated products uncompetitive or
obsolete, and result in a decline in our market share. We do not have the
working capital, at this time, to make a significant investment in research and
development activities although we have hired personnel in the days prior to
this filing who have significant industry and PV expertise.

Our future success substantially depends on our ability
to develop manufacturing capacity and output. Our ability to achieve our
expansion goals is subject to a number of risks and uncertainties.

Our future success depends on our ability to significantly
develop manufacturing capacity and output. If we are unable to do so, we may be
unable to expand our business, decrease our costs per watt, maintain our
competitive position and improve profitability. Our ability to establish
manufacturing capacity and increase output is subject to significant risks and
uncertainties, including:

- the need to raise significant additional funds to purchase and prepay for
  raw materials or to buy equipment for our recently secured manufacturing
  facilities, which we may be unable to obtain on reasonable terms or at all;
- delays and cost overruns as a result of a number of factors, many of which
  may be beyond our control, such as increases in raw materials prices and
  problems with manufacturing equipment vendors;
- delays or denial of required approvals by relevant government authorities;
- diversion of significant management attention and other resources; and
- failure to execute our plan of operations effectively.

If we are unable to establish or successfully operate
manufacturing capacity or to increase manufacturing output, or if we encounter
any of the risks described above, we may be unable to expand our business as
planned. Moreover, we cannot assure you that if we do establish or expand our
manufacturing capacity and output we will be able to generate sufficient
customer demand for our PV products to support production levels.

Our costs and expenses may increase as a result of
entering into fixed price, prepaid arrangements with our suppliers.

We plan to secure our supply of silicon and silicon wafers increasingly
  through fixed-price, prepaid supply arrangements with both overseas and domestic
  suppliers. If the prices of silicon or silicon wafers were to decrease in the
  future and we were locked into fixed price, prepaid arrangements, we may not
  be able to adjust our materials costs and thus, our cost of revenues will be
  negatively affected. Additionally, if demand for PV products decreases, we may
  incur costs associated with carrying excess materials, which may have a material
  adverse effect on our operating expenses. To the extent we are not able to pass
  these increased costs and expenses to our customers, our business, results of
  operations and financial condition may be materially and adversely affected.

6

---

Our dependence on a limited number of third-party suppliers
  for key raw materials and customized manufacturing equipment could prevent us
  from timely delivering our anticipated products to our customers in the required
  quantities, which could result in order cancellations and decreased revenues.

If we fail to develop or maintain our relationships with suppliers,
  we may be unable to manufacture our anticipated products or our anticipated
  products may be available at a higher cost or after a long delay, and we could
  be prevented from delivering our anticipated products to potential customers
  in the required quantities and at prices that are profitable. Problems of this
  kind could cause us to experience order cancellations and loss of market share.
  The failure of a supplier to supply materials and components that meet quality,
  quantity and cost requirements in a timely manner could impair our ability to
  manufacture products or increase our expected costs, particularly if we are
  unable to obtain these materials and components from alternative sources on
  a timely basis or on commercially reasonable terms.

Our dependence on a limited number of customers may cause
significant fluctuations or declines in our revenues.

As we develop our business, we will likely have a limited
number of customers initially and will be dependent on these customers for our
continued operations. We anticipate that our dependence on a limited number of
customers will continue for the foreseeable future. Consequently, any one of the
following events may cause material fluctuations or declines in our revenues and
have a material adverse effect on our results of operations:

- reduction, delay or cancellation of orders from one or more significant
  customers;
- selection by one or more significant distributor customers of products
  competitive with ours;
- loss of one or more significant customers and failure to identify
  additional or replacement customers; and
- failure of any significant customers to make timely payment for products.

We face risks associated with the marketing, distribution
and sale of PV products internationally, and if we are unable to effectively
manage these risks, they could impair our ability to expand our business
abroad.

We hope to market PV products outside of China. The marketing,
international distribution and sale of PV products would expose us to a number
of risks, including:

- fluctuations in currency exchange rates;
- difficulty in engaging and retaining distributors who are knowledgeable
  about and, can function effectively in, overseas markets;
- increased costs associated with maintaining marketing efforts in various
  countries;
- difficulty and cost relating to compliance with the different commercial
  and legal requirements of the overseas markets in which we offer our
  anticipated products;
- inability to obtain, maintain or enforce intellectual property rights; and
- trade barriers such as export requirements, tariffs, taxes and other
  restrictions and expenses, which could increase the prices of our anticipated
  products and make us less competitive in some countries.

Our business depends substantially on the continuing efforts
  of our executive officers and our ability to maintain a skilled labor force,
  and our business may be severely disrupted if we lose their services.

Our future success depends substantially on the continued services
  of our executive officer, especially Leo Shi Young, our President and chief
  executive officer, and Mr. Frank Fang Xie, our other director. We do

7

---

not maintain key man life insurance on our executive officer.
If our executive officer is unable or unwilling to continue in his present
positions, we may not be able to replace him readily, if at all. Therefore, our
business may be severely disrupted, and we may incur additional expenses to
recruit and retain new officers. Our executive officer has entered into an
employment agreement with the Company, which contains confidentiality and
non-competition provisions. However, we cannot assure you the extent to which
any of these agreements could be enforced in China, where our executive officer
resides and hold some assets. See Risks Related to Doing Business in China
Uncertainties with respect to the PRC legal system could have a material adverse
effect on us.

If we are unable to attract, train and retain technical
personnel, our business may be materially and adversely affected.

Our future success depends, to a significant extent, on our
ability to attract, train and retain technical personnel. Recruiting and
retaining capable personnel, particularly those with expertise in the PV
industry, are vital to our success. There is substantial competition for
qualified technical personnel, and there can be no assurance that we will be
able to attract or retain our technical personnel. If we are unable to attract
and retain qualified employees, our business may be materially and adversely
affected.

We may be exposed to infringement or misappropriation
claims by third parties, which, if determined adversely to us, could cause us to
pay significant damage awards.

Our success also depends largely on our ability to use and
develop our technology and know-how without infringing the intellectual property
rights of third parties. The validity and scope of claims relating to PV
technology patents involve complex scientific, legal and factual questions and
analysis and, therefore, may be highly uncertain. We may be subject to
litigation involving claims of patent infringement or violation of intellectual
property rights of third parties. The defense and prosecution of intellectual
property suits, patent opposition proceedings and related legal and
administrative proceedings can be both costly and time consuming and may
significantly divert the efforts and resources of our technical and management
personnel. An adverse determination in any such litigation or proceedings to
which we may become a party could subject us to significant liability to third
parties, require us to seek licenses from third parties, to pay ongoing
royalties, or to redesign our anticipated products or subject us to injunctions
prohibiting the manufacture and sale of our anticipated products or the use of
our technologies. Protracted litigation could also result in our customers or
potential customers deferring or limiting their purchase or use of our
anticipated products until resolution of such litigation.

Fluctuations in exchange rates could adversely affect our
business.

Our financial statements are expressed in U.S. dollars but our
functional currency is likely to be Renminbi. Our results may be affected by the
foreign exchange rate between U.S. dollars and Renminbi. To the extent we hold
assets denominated in U.S. dollars, any appreciation of the Renminbi against the
U.S. dollar could result in a change to our income statement and a reduction in
the value of our U.S. dollar denominated assets. On the other hand, a decline in
the value of Renminbi against the U.S. dollar could reduce the U.S. dollar
equivalent amounts of our financial results which may have a material adverse
effect on the prices of our shares.

We have limited insurance coverage and may incur losses
resulting from product liability claims or business interruptions.

We anticipate we will be exposed to risks associated with
product liability claims in the event that the use of the PV products we hope to
sell results in injury. Since our anticipated products will be electricity
producing devices, it is possible that users could be injured or killed by our
anticipated products, whether by product malfunctions, defects, improper
installation or other causes. We have not commenced commercial shipment of
products and, due to the resulting limited historical experience, we are unable
to predict whether product liability claims will be brought against us in the
future or the effect of any resulting adverse publicity on our business.
Moreover, we do not have any product liability insurance and may not have
adequate resources to satisfy a judgment in the event of a successful claim
against us. The successful

8

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assertion of product liability claims against us could result
in potentially significant monetary damages and require us to make significant
payments. In addition, as the insurance industry in China is still in an early
stage of development, business interruption insurance available in China offers
limited coverage compared to that offered in many other countries. We do not
have any business interruption insurance. Any business disruption or natural
disaster could result in substantial costs and diversion of resources.

Our existing shareholders have substantial influence over
our company and their interests may not be aligned with the interests of our
other shareholders.

The Companys President, Leo Shi Young, has substantial or
complete influence over our business, including decisions regarding mergers,
consolidations and the sale of all or substantially all of our assets, election
of directors and other significant corporate actions. He has the right to
purchase 36,000,000 shares of our common stock from the previous President and
CEO, Jean Blanchard for nominal consideration. This represents approximately
half of the issued and outstanding shares of the Company.

If we grant employee share options and other share-based
compensation in the future, our net income could be adversely
affected.

The Company may grant share purchase options to employees in
the future although it does not have a share based compensation plan in place as
of today. If the Company does this, it will account for options granted to our
directors and employees in accordance with Accounting Principles Board Opinion
No. 25, Accounting for Stock Issued to Employees, or APB 25, and its related
interpretations, which require us to recognize compensation expenses for share
options we grant where the exercise price is less than the deemed fair value of
our ordinary shares on the date of the grant. However, the Financial Accounting
Standards Board, or the FASB, has issued Statement No. 123 (Revised 2004),
Share-Based Payments, or SFAS 123R, which requires all companies to recognize,
as an expense, the fair value of share options and other share-based
compensation to employees at the beginning of the first annual or interim period
after June 15, 2005. As a result, beginning on January 1, 2006, we will have to
account for compensation costs for all share options including share options
granted to our directors and employees using a fair-value based method and
recognize expenses in our consolidated statement of operations in accordance
with the relevant rules under U.S. GAAP, which may have a material and adverse
effect on our reported earnings. If we try to avoid incurring these compensation
costs, we may not be able to attract and retain key personnel, as share options
are an important employee recruitment and retention tool. If we grant employee
share options or other share-based compensation in the future, our net income
could be adversely affected.

Risks Related to Doing Business in China

Adverse changes in political and economic policies of the
PRC government could have a material adverse effect on the overall economic
growth of China, which could reduce the demand for our anticipated products and
materially and adversely affect our competitive position.

All of our business operations are conducted in China and some
of our sales are likely to be made in China, although we are in the process of
attempting to establish US distribution for our future products. Accordingly,
our business, financial condition, results of operations and prospects are
affected significantly by economic, political and legal developments in China.
The Chinese economy differs from the economies of most developed countries in
many respects, including:

- the amount of government involvement;
- the level of development;
- the growth rate;
- the control of foreign exchange; and

9

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- the allocation of resources.

While the Chinese economy has grown significantly in the past
20 years, the growth has been uneven, both geographically and among various
sectors of the economy. The PRC government has implemented various measures to
encourage economic growth and guide the allocation of resources. Some of these
measures benefit the overall Chinese economy, but may also have a negative
effect on us. For example, our financial condition and results of operations may
be adversely affected by government control over capital investments or changes
in tax regulations that are applicable to us.

The Chinese economy has been transitioning from a planned
economy to a more market-oriented economy. Although in recent years the PRC
government has implemented measures emphasizing the utilization of market forces
for economic reform, the reduction of state ownership of productive assets and
the establishment of sound corporate governance in business enterprises, a
substantial portion of the productive assets in China is still owned by the PRC
government. The continued control of these assets and other aspects of the
national economy by the PRC government could materially and adversely affect our
business. The PRC government also exercises significant control over Chinese
economic growth through the allocation of resources, controlling payment of
foreign currency-denominated obligations, setting monetary policy and providing
preferential treatment to particular industries or companies. Efforts by the PRC
government to slow the pace of growth of the Chinese economy could result in
decreased capital expenditure by solar energy users, which in turn could reduce
demand for our anticipated products.

Any adverse change in the
economic conditions or government policies in China could have a material
adverse effect on the overall economic growth and the level of renewable energy
investments and expenditures in China, which in turn could lead to a reduction
in demand for our anticipated products and consequently have a material adverse
effect on our businesses.

Uncertainties with respect to the Chinese legal system
could have a material adverse effect on us.

We plan to conduct substantially all of our business through a
subsidiary which is in the process of being established in China. This
subsidiary will be generally subject to laws and regulations applicable to
foreign investment in China and, in particular, laws applicable to wholly
foreign-owned enterprises. The PRC legal system is based on written statutes.
Prior court decisions may be cited for reference but have limited precedential
value. Since 1979, PRC legislation and regulations have significantly enhanced
the protections afforded to various forms of foreign investments in China.
However, since these laws and regulations are relatively new and the PRC legal
system continues to rapidly evolve, the interpretations of many laws,
regulations and rules are not always uniform and enforcement of these laws,
regulations and rules involve uncertainties, which may limit legal protections
available to us. In addition, any litigation in China may be protracted and
result in substantial costs and diversion of resources and management attention.

Restrictions on currency exchange may limit our ability
to receive and use our revenues effectively.

Foreign exchange transactions by companys under Chinas
capital account continue to be subject to significant foreign exchange controls
and require the approval of PRC governmental authorities, including the
SAFE.

Risks Relating to an Investment in our Securities

The market price for our shares may be
volatile.

As we are a development stage company, the market price for our
shares is likely to be highly volatile and subject to wide fluctuations in
response to factors including the following:

- Announcements of technological or competitive developments;

10

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- regulatory developments in our target markets affecting us, our customers
  or our competitors;
- Announcements regarding patent litigation or the issuance of patents to us
  or our competitors;
- Announcements of studies and reports relating to the conversion
  efficiencies of our anticipated products or those of our competitors;
- actual or anticipated fluctuations in our quarterly operating results;
- changes in financial estimates by securities research analysts;
- changes in the economic performance or market valuations of other PV 
  solar industry companies;
- addition or departure of our executive officers and key personnel;
- release or expiry of resale restrictions on other outstanding common
  shares; and
- sales or perceived sales of additional shares to raise working capital.

In addition, the securities market has from time to time
experienced significant price and volume fluctuations that are not related to
the operating performance of particular companies. These market fluctuations may
also have a material adverse effect on the market price of our shares.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This report on Form 10QSB contains forward-looking statements,
in particular in our Plan of Operations, that relate to our current expectations
and views of future events. These statements relate to events that involve known
and unknown risks, uncertainties and other factors, including those listed under
Risk Factors, which may cause our actual results, performance or achievements
to be materially different from any future results, performances or achievements
expressed or implied by the forward-looking statements.

In some cases, these forward-looking statements can be
identified by words or phrases such as may, will, expect, anticipate,
aim, estimate, intend, plan or planned believe, potential,
continue, is/are likely to, hope or other similar expressions. We have
based these forward-looking statements largely on our current expectations and
projections about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy and financial
needs. These forward-looking statements include, among other things, statements
relating to:

- our expectations regarding the worldwide demand for electricity and the
  market for solar energy;
- our beliefs regarding the effects of environmental regulation, lack of
  infrastructure reliability and long-term fossil fuel supply constraints;
- our beliefs regarding the inability of traditional fossil fuel-based
  generation technologies to meet the demand for electricity;
- our beliefs regarding the importance of environmentally friendly power
  generation;
- our expectations regarding governmental support for the deployment of solar
  energy;
- our beliefs regarding the acceleration of adoption of solar technologies;
- our beliefs regarding the competitiveness of PV products;

11

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- our expectations regarding the creation and development of our
  manufacturing capacity;
- our expectations with respect to revenue and sales and our ability to
  achieve profitability resulting from increases in production volumes;
- our expectations with respect to our ability to secure raw materials in the
  future;
- our future business development, results of operations and financial
  condition; and
- competition from other manufacturers of PV products and conventional energy
  suppliers.

YOU SHOULD NOT PLACE UNDUE RELIANCE ON THESE FORWARD LOOKING
STATEMENTS

The forward-looking statements made in this report on Form
10QSB relate only to events or information as of the date on which the
statements are made in this report on Form 10QSB. Except as required by law, we
undertake no obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events or otherwise,
after the date on which the statements are made or to reflect the occurrence of
unanticipated events. You should read this report and the documents that we
reference in this report, including documents referenced by incorporation,
completely and with the understanding that our actual future results may be
materially different from what we expect or hope.

Plan of Operation for the Next Twelve Months

In March of 2006, the Company decided to abandon its previous
business relating to residential security and alarm systems and instead decided
to attempt to develop a business in the photovoltaic (PV) or solar
industry.

In April of 2006, the Company, through its President Leo Shi
Young, began to operate in China through an agent company, Infotech (Shanghai)
New Enertech Ltd. (the Agent). The Company subsequently formalized its
relationship with the Agent by executing an Agency Agreement in July of 2006,
subsequent to the June 30, 2006 period end.

The Company entered into the Agency Agreement with an existing
Shanghai company to save the time associated with incorporating a subsidiary and
then commencing business operations. The Agent is owned (through a Hong Kong
company) by the Companys President, Leo Shi Young. The Agent does not receive
any compensation for acting in its capacity as Agent.

In keeping with its intention to develop a business in the
photovoltaic (PV) industry, the Company:

|1. | Entered into a lease agreement, through the
        Agent, in Shanghai, China, to lease a 42,000 square foot factory space
        for the purpose of building solar cell production lines and related facilities;
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|2. | Hired, again through its Agent in Shanghai,
        China, a total of 12 personnel to engage in the following activities:                                                                                         
|   | a.                                                                                                                                                                                                                
|   | b.                                                                                                                                                                                                                
|   | c.                                                                                                                                                                                                                
|   | d.                                                                                                                                                                                                                
|   | e.                                                                                                                                                                                                                
|   | f.                                                                                                                                                                                                                

12

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Between April 1 and June 30, 2006, the Company raised
$2,823,000 from the sale of 2,823,000 units (the units being comprised of
2,823,000 common shares at $1.00 per share and 2,823,000 share purchase warrants
exercisable for a period of one year at an exercise price of $1.60 per share
(none of which have yet been exercised)) under a Regulation S offering. These
funds, the Company believes, will allow it to proceed in the development of its
solar business for the next six months although the Company is attempting to
raise additional equity investment funds.

Subsequent to the quarter ended June 30, 2006, the Company
received funds totaling $569,500 comprising of $500,000 by way of note payable
and $69,500 by way of unit offering (each unit comprised of one common share at
$1.00 per share and one share purchase warrant exercisable for a period of one
year at an exercise price of $1.60 per share) to non-US resident persons under a
Regulation S offering.

The Company intends to use its available funds as described in
Expenditures below.

Our future operations are dependent upon the identification and
successful completion of additional long-term or permanent equity financing, the
support of creditors and shareholders, and, ultimately, the achievement of
profitable operations. There can be no assurances that we will be successful,
which would in turn significantly affect our ability to roll out our business
plan. If not, we will likely be required to reduce operations or liquidate
assets. We will continue to evaluate our projected expenditures relative to our
available cash and to seek additional means of financing in order to satisfy our
working capital and other cash requirements.

The following discussion of the plan of operation, financial
condition, results of operations, cash flows and changes in financial position
of our Company should be read in conjunction with our most recent financial
statements and notes appearing elsewhere in this Form 10-QSB; and Reports on
Form 8-K filed during our most recent quarter and subsequent to the period end
of that quarter.

We continue to operate with very limited administrative
support, and our current officers and directors continue to be responsible for
many duties to preserve our working capital.

Projected Expenditures Over The Next 12 Months

The following chart provides an overview of our budgeted
expenditures by major area of activity, for the next 12 months from the date of
this annual report:

|(a)    | Personnel costs in Shanghai,
      China and the United States: | $472,500  
|------ | --------------------------------------------------------------- | ----------
|(b)    | Production development / factory leasing costs:                 | $213,000  
|(c)    | Administration, sales and
      marketing office:               | $65,450   
|(d)    | General and administrative expenses:                            | $320,000  
|(e)    | PV production and manufacturing
      equipment:                | $5,050,000
|(f)    | Silicon material purchase                                       | $1,000,000
|(g)    | Professional fees and expenses,
      regulatory expenses:      | $90,000   
|(g)    | Shareholder communications:                                     | $135,000  
|(h)    | Travel, Miscellaneous,
      Unallocated                        | $35,000   
|       |                                                                 |           
|Total: |                                                                 | $7,380,950

The amounts noted above reflect our current cash resources and
assume that we will raise, through equity or other financing, approximately
$4,500,000 in the next 12 months. There can be no assurance that the Company
will be successful in raising these additional funds and, if the Company is
unsuccessful in raising these additional funds, its plans for expanding
operations and business activities may have to be curtailed.

13

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As at June 30, 2006, we had $2,856,338 in cash and cash
equivalents in current assets and approximately $336,212 of our cash was
utilized for investing activities in the past nine months of the current
financial year. There were cash flows of $3,372,980 from financing activities in
the first nine months of the current financial year and unit sales of securities
subsequent to the period end of June 30, 2006 provided us with some additional
cash assets.

Other than as detailed above, we do not anticipate making any
major purchases of capital assets in the next 6 months, or conducting any
large-scale research and development. Any development of research and
development functions would be dependent upon securing additional equity or
other financing to add to our working capital. The Company has hired two persons
for research and development and product development research but that is the
extent of its planned research and development activities. Under US GAAP, these
activities may possibly not be classified as research and development but may be
classified as expenses given that the costs are associated with paying salaries
to the two individuals.

We believe we have sufficient cash resources to satisfy our
needs over the next 6 months. Our ability to satisfy cash requirements
thereafter will determine whether we achieve our business objectives, including
but not limited to completion of our manufacturing facilities and production
lines. Should we require additional cash in the future, there can be no
assurance that we will be successful in raising additional debt or equity
financing on terms acceptable to our company, if at all.

Management Discussion and Analysis

Liquidity and Capital Resources

At June 30, 2006, we had working capital of $2,183,828,
compared to working capital of $8,467 at June 30, 2005. The increase in working
capital was primarily due to financing activities and was partially offset by an
increase in current liabilities.

At June 30, 2006, our total assets consisted of $2,856,338
  in cash and cash equivalents, accounts receivable of $1,738, prepaid expenses
  of $30,326,,capital assets of $341,577, and other assets of $33,826. This compares
  with total assets at June 30, 2005 consisting of $8,306 in cash and cash equivalents
  and $561 in prepaid expenses. The increase in cash and cash equivalents was,
  as mentioned above, due primarily to financing activities and sale of equity
  (although there were also debt components) and the increase in capital assets
  (fixed assets) was due to purchase of furniture of $2,798 office leasehold improvements
  of $10,990 and plant leasehold improvements of $322,424 associated with developing
  the Companys leased facilities in Shanghai, China.

At June 30, 2006, our total current liabilities, including all
accounts payable, were $704,574 as compared to $400 at June 30, 2005. The
increase in current liabilities resulted primarily from $100,000 owed to a third
party lender under the terms of a note payable and $449,980 loaned to the
Company by a related party (of which the Companys President, is also
President). The funds loaned to the Company were borrowed to fund initial plant
and office leasehold improvements, fixed asset acquisitions and general and
administrative expenses.

We have not had revenues from inception. Our short and long
term survival is dependent on funding from sales of securities and, as
necessary, from shareholder loans.

Revenues

The Company had $0 in revenues during the three months ending
June 30, 2006 and $0 in revenues during the three months ending June 30, 2005.
The Company is still completing the development of its plant / manufacturing
facility in Shanghai, China and until that is completed, which is anticipated to
occur by the end of 2006, the Company does not expect revenues.

14

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Expenses and General and Administrative Expenses

During the quarter ending June 30, 2006, the Company incurred
total expenses of $295,321 as compared to expenses of $2,676 in the
corresponding period ending June 30, 2005. The increase in expenses was due
mainly to start up costs associated with construction and development of the
Companys manufacturing facility. Office and administration expenses rose to
$58,956 in the nine months ended June 30, 2006 (from $846 in the corresponding
period in 2005); registration and filing fees rose to $21,851 in the nine months
ended June 30, 2006 (from $0 in the corresponding period in 2005); professional
fees rose to $48,556 (from $10,986 in the corresponding period in 2005). The
increases overall reflect a much higher level of business activity in the
Company compared to the corresponding period in 2005.

Some of the expenses, as well as the $336,212 additions to
capital assets and leasehold improvements, are one time expenses resulting from
start up costs of equipping the Companys Shanghai manufacturing facility. The
anticipated expenditures for the Company are described elsewhere. Readers should
not assume that expenses or other cash flows in this period are indicative of
future periods as the Company is in the development stage.

Results of Operations / Net Loss

Our company posted a net loss for the nine month period of $316,362,
  being $0.001 per share, for the nine months ended June 30, 2006 compared to
  $11,832 or $0.001 per share for the nine months ended June 30, 2005. From inception
  to June 30, 2006 we have incurred accumulated losses of $366,769. The principal
  component of losses in the nine months ending June 30, 2006 were organizational
  costs, professional fees, office and administration expenses, marketing expenses
  and registration / filing fees.

Cash on hand is currently our only source of liquidity. We do
not have any lending arrangements in place with banking or financial
institutions and we do not anticipate that we will be able to secure these
funding arrangements in the near future.

We believe our existing cash balances are sufficient to carry
our normal operations for the next 6 months. To the extent that we require
additional funds to support our operations or the expansion of our business, we
may attempt to sell additional equity shares or issue debt. Any sale of
additional equity securities will result in dilution to our stockholders. There
can be no assurance that additional financing, if required, will be available to
our company or on acceptable terms.

ITEM 3. CONTROLS AND PROCEDURES

We maintain disclosure controls and procedures that are
designed to ensure that information required to be disclosed in our Exchange Act
reports is recorded, processed, summarized and reported within the time periods
specified in the United States Securities and Exchange Commission rules and
forms, and that such information is accumulated and communicated to our
management; including our President and acting Chief Financial Officer, as
appropriate, to allow timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with
the participation of our management, including our President and acting Chief
Financial Officer, of the effectiveness of the design and operation of our
disclosure controls and procedures pursuant to Exchange Act Rule 13a-14 as of
the end of period covered by this report. Based upon the foregoing, our
President and our acting Chief Financial Officer concluded that our disclosure
controls and procedures are effective.

There were no changes in our internal control over financial
reporting identified in connection with the evaluation referred to in the
immediately preceding paragraph that occurred during our last fiscal quarter
that has materially affected or is reasonably likely to materially affect, our
internal control over financial reporting.

15

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PART II  OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

None.

ITEM 2.     CHANGES IN SECURITIES AND
USE OF PROCEEDS

On February 24, 2006, 3 previous directors returned 1,447,727
(pre-forward stock split) common shares to the treasury for cancellation.
Effective February 27, 2006, the Company forward split its issued common shares
on the basis of forty-four new for one old share. The number of shares referred
to in the attached financial statements has been restated wherever applicable,
except where noted, to give retroactive effect on the forward stock split.

The number of common shares outstanding pre-forward stock split
was 1,652,273 and after giving effect to the forward split, the outstanding
common shares totaled 72,700,012.

On March 1, 2006, the Company authorized the increase of its
authorized capital stock from 75,000,000 common shares with a par value of
$0.001 to 200,000,000 common shares with a par value of $0.001. This increase in
its authorized capital has been filed with the Nevada Secretary of State.

On May 1, 2006, the Company issued 500,000 units at $1.00 per
unit. Each unit consists of one common share and one common share purchase
warrant entitling the holder to acquire an additional common share at an
exercise price of $1.60, expiring on April 30, 2007. The Company received cash
proceeds of $500,000 for these units.

On May 4, 2006, the Company issued 500,000 units at $1.00 per
unit. Each unit consists of one common share and one common share purchase
warrant entitling the holder to acquire an additional common share at an
exercise price of $1.60, expiring on May 3, 2007. The Company received cash
proceeds of $500,000 for these units.

On June 9, 2006, the Company issued 505,000 units at $1.00 per
unit. Each unit consists of one common share and one common share purchase
warrant entitling the holder to acquire an additional common share at an
exercise price of $1.60, expiring on June 8, 2007. The Company received cash
proceeds of $505,000 in June 2006 for these units.

On June 21, 2006, the Company issued 850,000 units at $1.00 per
unit. Each unit consists of one common share and one common share purchase
warrant entitling the holder to acquire an additional common share at an
exercise price of $1.60, expiring on June 20, 2007. The Company received cash
proceeds of $850,000 in June 2006 for these units.

On June 23, 2006, the Company received cash proceeds of
$468,000 for the purchase of 468,000 units at $1.00 per unit. Each unit consists
of one common share and one common share purchase warrant entitling the holder
to acquire an additional common share at an exercise price of $1.60. As at June
30, 2006, these units still have to be issued.

The securities sold in the quarter ended June 30, 2006 were all
  issued to non-US resident persons as that term is defined in Regulation S under
  exemptions from registration available under Regulation S. Persons purchasing
  securities under Regulation S are prohibited from resale of the securities to
  any US person unless the securities are registered or another exemption from
  registration, such as Rule 144, is available to them. Under Rule 144, generally,
  non-affiliates purchasing securities of a company are prohibited from resale
  of those securities to a US person for a period of at least one year. Additional
  restrictions on the volume of any sales may apply depending on the circumstances
  and total shareholdings of individual shareholders.

16

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|ITEM 3.     DEFAULTS
      UPON SENIOR SECURITIES                                                                            
|-----------------------------------------------------------------------------------------------------------------------------
|                                                                                                                             
|None.                                                                                                                        
|                                                                                                                             
|ITEM 4.     SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS                                                        
|                                                                                                                             
|None.                                                                                                                        
|                                                                                                                             
|ITEM 5.     OTHER INFORMATION                                                                                                
|                                                                                                                             
|None.                                                                                                                        
|                                                                                                                             
|ITEM 6. EXHIBITS
      AND REPORTS ON FORM 8-K.                                                                              
|                                                                                                                             
|(a) Pursuant to Rule 601 of Regulation SB, the
      following exhibits are included herein or incorporated **by reference.**
|                                                                                                                             

Exhibit Number
    Description3.1
    Articles of Incorporation*3.2
    By-laws*5
    Opinion re: Legality*31.1
      CERTIFICATION OF CEO PURSUANT TO 18
        U.S.C. ss. 1350, SECTION 302**31.2
      CERTIFICATION OF CFO PURSUANT TO 18
        U.S.C. ss. 1350, SECTION 302**32.1
      CERTIFICATION PURSUANT TO 18 U.S.C.
        ss.1350, SECTION 906**32.2
      CERTIFICATION PURSUANT TO 18 U.S.C.
        ss.1350, SECTION 906**


* Incorporated by reference to our Form SB2 Registration
Statement Amendment No. 7, File Number 33-

120926, filed on May 5, 2005.

** Filed herewith.

(b) The Registrant filed Reports on Form 8-K in the quarter
ending June 30, 2006 and subsequently to the date hereof on the following dates:
May 12, 2006, May 12, 2006, May 15, 2006, July 21, 2006 and July 28, 2006.

17

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized, on this
12th day of August, 2006.

|                      | SOLAR ENERTECH CORP.
|--------------------- | --------------------
|                      |                     
|                      |                     
|Date: August 12, 2006 |                     
|                      | By:                 
|                      |                     
|                      |                     
|                      |                     
|Date: August 12, 2006 |                     
|                      | By:                 
|                      |                     
|                      |                     
|                      |                     
|Date: August 12, 2006 | By:                 
|                      |                     
|                      |                     

18

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