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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-QSB

(Mark One)

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

For the quarter endedJanuary 31, 2007

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 Number333-122870

AEGIS INDUSTRIES, INC.(formerly Major Creations Incorporated)(Exact name of
registrant as specified in its charter)

|NEVADA                         | 98-0420577         
|------------------------------ | -------------------
|State or other jurisdiction of | (I.R.S. Employer   
|incorporation or organization  | Identification No.)

75200 Shady Grove Road, Suite 202, Rockville, MD
20850(Address of principal executive offices) (Zip Code)

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

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 March 14, 2007:91,800,000

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 January
31, 2007

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FORWARD-LOOKING STATEMENTS

This Report on Form 10QB 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.

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.

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

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Aegis Industries, Inc.(A Development Stage Company)







Interim Financial Statements January 31, 2007
(Stated in US Dollars) (Unaudited)

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Aegis Industries, Inc.(A
Development Stage Company) Interim Balance Sheets January 31, 2007 and
October 31, 2006 (Stated in US Dollars)(Unaudited)

|                                               |   | January 31, 2007 |   |   | October 31, 2006 |  
|---------------------------------------------- | - | ---------------- | - | - | ---------------- | -
|ASSETS                                         |   |                  |   |   |                  |  
|Current                                        |   |                  |   |   |                  |  
|Cash                                           | $ | 19,191           |   | $ | -                |  
|Prepaid expenses                               |   | 28,990           |   |   | -                |  
|Notes receivable (note 3)                      |   | 545,365          |   |   | -                |  
|                                               |   |                  |   |   |                  |  
|                                               |   | 593,546          |   |   | -                |  
|Inventory                                      |   | 23,598           |   |   | 23,598           |  
|Equipment,net                                  |   | 10,515           |   |   | 11,279           |  
|Web site
      development,net                 |   | -                |   |   | 1,500            |  
|                                               |   |                  |   |   |                  |  
|                                               | $ | 627,659          |   | $ | 36,377           |  
|                                               |   |                  |   |   |                  |  
|LIABILITIES                                    |   |                  |   |   |                  |  
|Current                                        |   |                  |   |   |                  |  
|Accounts payable and accrued liabilities       | $ | 60,500           |   | $ | 25,444           |  
|Loans payable (note 4)                         |   | 678,975          |   |   | 19,723           |  
|                                               |   |                  |   |   |                  |  
|                                               |   | 739,475          |   |   | 45,167           |  
|                                               |   |                  |   |   |                  |  
|STOCKHOLDERS' EQUITY                           |   |                  |   |   |                  |  
|Capital stock (note 5)                         |   |                  |   |   |                  |  
|Common $0.001 par value                        |   |                  |   |   |                  |  
|200,000,000 shares authorized;                 |   |                  |   |   |                  |  
|91,800,000 shares issued and
      outstanding |   | 2,550            |   |   | 2,550            |  
|Additional paid in capital                     |   | 115,950          |   |   | 115,950          |  
|Deficit accumulated during development stage   |   | (230,316         | ) |   | (127,290         | )
|                                               |   |                  |   |   |                  |  
|                                               |   | (111,816         | ) |   | (8,790           | )
|                                               |   |                  |   |   |                  |  
|                                               | $ | 627,659          |   | $ | 36,377           |  

The accompanying notes are an integral part of these financial
statements.

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Aegis Industries, Inc.(A Development Stage Company)Interim Statements of OperationsFor the three months ended January 31, 2007
and 2006and for the period from February 5, 2004 [Date of Inception]to January 31, 2007(Stated in US Dollars)(Unaudited)

|                                       |   |                            |   |   |                     |   |   | Cumulative from     |  
|-------------------------------------- | - | -------------------------- | - | - | ------------------- | - | - | ------------------- | -
|                                       |   | For the three months ended |   |   | February 5, 2004    |  
|                                       |   | January 31,                |   |   | (Date of Inception) |  
|                                       |   | 2007                       |   |   | 2006                |   |   | to January 31, 2007 |  
|                                       |   |                            |   |   |                     |   |   |                     |  
|Expenses                               |   |                            |   |   |                     |   |   |                     |  
|Amortization                           | $ | 764                        |   | $ | -                   |   | $ | 2,923               |  
|Consulting fees                        |   | -                          |   |   | -                   |   |   | 4,341               |  
|Interest expense                       |   | 8,852                      |   |   | -                   |   |   | 8,974               |  
|Management fees                        |   | 8,480                      |   |   | -                   |   |   | 8,480               |  
|Marketing and promotion                |   | 43,320                     |   |   | 7,337               |   |   | 64,925              |  
|Office and administrative              |   | 7,878                      |   |   | 4,167               |   |   | 22,527              |  
|Organizational costs                   |   | -                          |   |   | -                   |   |   | 1,189               |  
|Professional fees                      |   | 32,314                     |   |   | 2,742               |   |   | 109,950             |  
|Write-down of inventory                |   | -                          |   |   | -                   |   |   | 5,589               |  
|Write-off of website development       |   | 1,500                      |   |   | -                   |   |   | 1,500               |  
|Loss                                   |   | (103,108                   | ) |   | (14,246             | ) |   | (230,398            | )
|                                       |   |                            |   |   |                     |   |   |                     |  
|Interest income                        |   | 82                         |   |   | -                   |   |   | 82                  |  
|                                       |   |                            |   |   |                     |   |   |                     |  
|Net loss                               | $ | (103,026                   | ) | $ | (14,246             | ) | $ | (230,316            | )
|                                       |   |                            |   |   |                     |   |   |                     |  
|Net loss per share - basic and diluted | $ | (0.00                      | ) | $ | (0.00               | ) |   |                     |  
|                                       |   |                            |   |   |                     |   |   |                     |  
|Weighted Average Shares Outstanding    |   | 91,800,000                 |   |   | 151,258,680         |   |   |                     |  

The accompanying notes are an integral part of these financial statements.

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Aegis Industries,Inc.(ADevelopmentStageCompany)InterimStatementsofStockholders'Equity(Deficit)For the period
fromFebruary5, 2004 [Date ofInception]toJanuary31, 2007(Stated in USDollars)(Unaudited)

Accumulated DeficitCommon Stock
      
      
      Additional Paid-in
      
      
      during Development
      
      
      Total Stockholders'Shares
      
      
      Amount
      
      
      Capital
      
      
      Stage
      
      
      Equity (Deficit)Balance, at inception
      
      -
      
      $
      -
      
      $
      -
      
      $
      -
      
      $
      -Stock issued for cash at $0.000027778
      
      72,000,000
      
      
      2,000
      
      
      -
      
      
      -
      
      
      2,000Stock issued for cash at $0.000277778
      
      77,400,000
      
      
      2,150
      
      
      19,350
      
      
      -
      
      
      21,500Net
        loss for the period
      
      -
      
      
      -
      
      
      -
      
      
      (7,025
      )
      
      (7,025
      )Balance, October 31,2004
      
      149,400,000
      
      
      4,150
      
      
      19,350
      
      
      (7,025
      )
      
      16,475Net loss for the year
      
      -
      
      
      -
      
      
      -
      
      
      (15,064
      )
      
      (15,064
      )Balance, October 31,2005
      
      149,400,000
      
      
      4,150
      
      
      19,350
      
      
      (22,089
      )
      
      1,411Stock issued for cash at $0.002777778
      
      34,200,000
      
      
      950
      
      
      94,050
      
      
      -
      
      
      95,000Stock returned to treasury
      
      (91,800,000
      )
      
      (2,550
      )
      
      2,550
      
      
      -
      
      
      -Net loss for the
        year
      
      -
      
      
      -
      
      
      -
      
      
      (105,201
      )
      
      (105,201
      )Balance, October 31,2006
      
      91,800,000
      
      
      2,550
      
      
      115,950
      
      
      (127,290
      )
      
      (8,790
      )Net loss for the period
      
      
      
      
      
      
      
      
      
      
      (103,026
      )
      
      (103,026
      )Balance, January 31,2007
      
      91,800,000
      
      $
      2,550
      
      $
      115,950
      
      $
      (230,316
      )
      $
      (111,816
      )


The accompanying notes are an integral part of these financial
  statements.

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Aegis Industries, Inc.(A
Development Stage Company) Interim Statements of Cash FlowsFor
the three months ended January 31, 2007 and 2006 and for the period from
February 5, 2004 [Date of Inception] to January 31, 2007 (Stated in US
Dollars)(Unaudited)

|                                           |   |                            |   |   |                        |   |   | Cumulative from  |  
|------------------------------------------ | - | -------------------------- | - | - | ---------------------- | - | - | ---------------- | -
|                                           |   | For the three months ended |   |   | February 5, 2004       |  
|                                           |   | January 31,                |   |   | (Date of Inception) to |  
|                                           |   | 2007                       |   |   | 2006                   |   |   | January 31, 2007 |  
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash Flows from (used in)                  |   |                            |   |   |                        |   |   |                  |  
|Operating Activities                       |   |                            |   |   |                        |   |   |                  |  
|Net loss for the year                      | $ | (103,026                   | ) | $ | (14,246                | ) | $ | (230,316         | )
|Items not affecting cash:                  |   |                            |   |   |                        |   |   |                  |  
|- amortization                             |   | 764                        |   |   | -                      |   |   | 2,923            |  
|- interest accruals                        |   | 8,770                      |   |   | -                      |   |   | 8,893            |  
|- write-down of inventory                  |   | -                          |   |   | -                      |   |   | 5,589            |  
|- write-off of website development         |   | 1,500                      |   |   | -                      |   |   | 1,500            |  
|Change in non-cash working capital balance |   |                            |   |   |                        |   |   |                  |  
|related to operations:                     |   |                            |   |   |                        |   |   | -                |  
|- prepaid expenses                         |   | (28,990                    | ) |   | -                      |   |   | (28,990          | )
|- accounts payable and accrued             |   |                            |   |   |                        |   |   |                  |  
|liabilities                                |   | 35,056                     |   |   | 120                    |   |   | 60,500           |  
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash Flows - Operating Activities          |   | (85,926                    | ) |   | (14,126                | ) |   | (179,901         | )
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash flows used in                         |   |                            |   |   |                        |   |   |                  |  
|Investing Activities                       |   |                            |   |   |                        |   |   |                  |  
|Acquisition of equipment                   |   | -                          |   |   | -                      |   |   | (12,938          | )
|Web site development                       |   | -                          |   |   | -                      |   |   | (2,000           | )
|Notes receivable                           |   | (545,282                   | ) |   | -                      |   |   | (545,282         | )
|Acquisition of inventory                   |   | -                          |   |   | -                      |   |   | (29,187          | )
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash Flows - Investing Activities          |   | (545,282                   | ) |   | -                      |   |   | (589,407         | )
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash flows from Financing Activities       |   |                            |   |   |                        |   |   |                  |  
|Proceeds from loan payable                 |   | 650,400                    |   |   | -                      |   |   | 670,000          |  
|Proceeds from issue of common stock        |   | -                          |   |   | 95,000                 |   |   | 118,500          |  
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash Flows - Financing Activities          |   | 650,400                    |   |   | 95,000                 |   |   | 788,500          |  
|                                           |   |                            |   |   |                        |   |   |                  |  
|Net Increase in Cash                       |   | 19,192                     |   |   | 80,874                 |   |   | 19,192           |  
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash, Beginning of Period                  |   | -                          |   |   | 5,811                  |   |   | -                |  
|                                           |   |                            |   |   |                        |   |   |                  |  
|Cash, End of Period                        | $ | 19,192                     |   | $ | 86,685                 |   | $ | 19,192           |  

The accompanying notes are an integral part of these financial
statements.

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Aegis Industries, Inc.(A Development Stage Company)
Notes to the Interim Financial Statements January 31, 2007 and October
31, 2006 (Stated in US Dollars) (Unaudited)

1.      Interim Reporting

The accompanying unaudited interim financial statements have
been prepared by the Company pursuant to the rules and regulations of the United
States Securities and Exchange Commission. Certain information and disclosures
normally included in annual financial statements prepared in accordance with
accounting principles generally accepted in the United States of America have
been condensed or omitted pursuant to such rules and regulations. In the opinion
of management, all adjustments and disclosures necessary for a fair presentation
of these financial statements have been included. Such adjustments consist of
normal recurring adjustments. These interim financial statements should be read
in conjunction with the Companys October 31, 2006, audited financial
statements.

The results of operations for the three months ended January
  31, 2007, are not indicative of the results that may be expected for the full
  year.

2.      Nature and Continuance of
Operations

Aegis Industries, Inc. (the Company) was incorporated in the
State of Nevada, United States of America, on February 5, 2004 under the name
Major Creations Incorporated. On December 5, 2006, the Company changed its name
to Aegis Industries, Inc. The Company is listed on the Over-the-Counter Bulletin
Board.

The Company has had limited operations as a retailer of vintage
style compact diesel tractors. The Company intends to engage in the business of
designing, developing and manufacturing intermediate force options for military,
law enforcement and security forces. To facilitate this change in business, on
November 30, 2006, and as amended on January 25, 2007, the Company signed a
letter of intent whereby it would acquire substantially all the assets of Aegis
Industries, Inc. (AI Inc.) for the issuance of 15,000,000 shares of common
stock (see note 7).

These financial statements have been prepared in accordance
with generally accepted accounting principles applicable to a going concern,
which assumes that the Company will be able to meet its obligations and continue
its operations for its next twelve months. Realization values may be
substantially different from carrying values as shown and these financial
statements do not give effect to adjustments that would be necessary to the
carrying values and classification of assets and liabilities should the Company
be unable to continue as a going concern. At January 31, 2007, the Company had
not yet achieved profitable operations, has accumulated losses of $230,316 since
its inception, has a working capital deficiency of $145,929 and expects to incur
further losses in the development of its business, all of which casts
substantial doubt about the Companys ability to continue as a going concern.
The Companys ability to continue as a going concern is dependent upon its
ability to generate future profitable operations and/or to obtain the necessary
financing to meet its obligations and repay its liabilities arising from normal
business operations when they come due. Management has no formal plan in place
to address this concern but considers that the Company will be able to obtain
additional funds by equity financing and/or related party advances, however
there is no assurance of additional funding being available.

3.      Notes Receivable

| | a. | On December 1, 2006, the Company loaned $295,283 to AI
      Inc. The loan is unsecured, and is due on demand. Subsequent to demand for
      payment, principal and interest in arrears will bear interest at 10% per
      annum, calculated annually;                                                                                                                                                   
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                            
| | b. | On January 31, 2007, the Company loaned $250,000 to AI
      Inc., accruing interest at 12% per annum, calculated annually. The loan is
      unsecured, and is due on demand. Subsequent to demand for payment,
      principal and interest in arrears will bear interest at 30% per annum,
      calculated annually. Accrued interest of $82 is included in notes
      receivable at January 31, 2007.

4.      Loans Payable

| | a. | On October 12, 2006, the Company received loan proceeds
      of $19,600, accruing interest at 12% per annum. On January 15, 2007, the
      principal amount of the loan was repaid. Accrued interest of $619 (October
      31, 2006 - $123) has not yet been paid and is included in loans payable at
      January 31, 2007;
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | b. | On November 15, 2006, the Company received loan proceeds
      of $5,000. The amount is unsecured and is due on demand but demand cannot
      be made earlier than May 15, 2007. The principal amount bears interest at
      12% per annum calculated monthly. Any payments of principal or interest in
      arrears bear interest at 12% per annum calculated annually. Default in
      payment shall, at the option of the holder, render the entire balance
      payable. Accrued interest of $128 is included in loans payable at January
      31, 2007;    
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | c. | On November 28, 2006, the Company received loan proceeds
      of $315,000. The amount is unsecured and is due on demand but demand
      cannot be made earlier than May 28, 2007. The principal amount bears
      interest at 12% per annum calculated monthly. Any payments of principle or
      interest in arrears bear interest at 12% per annum calculated annually.
      Default in payment shall, at the option of the holder, render the entire
      balance payable. Accrued interest of $6,732 is included in loans payable
      at January 31, 2007;
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | d. | On December 20, 2006, the Company received loan proceeds
      of $100,000. The amount is unsecured and is due on demand. The principal
      amount bears interest at 12% per annum calculated monthly. Any payments of
      principle or interest in arrears bear interest at 30% per annum calculated
      annually. Default in payment shall, at the option of the holder, render
      the entire balance payable. Accrued interest of $1,414 is included in
      loans payable at January 31, 2007;                                                          
| |    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | e. | On January 31, 2007, the Company received loan proceeds
      of $250,000. The amount is unsecured and is due on demand. The principal
      amount bears interest at 12% per annum calculated monthly. Any payments of
      principle or interest in arrears bear interest at 30% per annum calculated
      annually. Default in payment shall, at the option of the holder, render
      the entire balance payable. Accrued interest of $82 is included in loans
      payable at January 31, 2007.                                                              

5.      Capital Stock

Effective September 9, 2006, the Company forward split its
issued common shares on the basis of thirty-six new shares for one old share.
The number of shares referred to in these financial statements has been restated
to give retrospective effect on the forward stock split. The retrospective
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 2,550,000, and after
giving effect to the forward split, the outstanding common shares totaled
91,800,000.

In September 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.

6.      Related Party
Transactions

During the three months ended January 31, 2007, the Company
paid management fees totaling $8,480 (2006 : $Nil) to a company controlled by a
director and officer of the Company.

7.      Commitments

| | a. | On November 21, 2006, the Company entered into a one year
      contract for marketing and communications consulting services, for a
      monthly fee of $5,000. This commitment can be terminated by either party
      with 30 days written notice;                                                                                            
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                    
| | b. | Effective November 16, 2006, the Company signed a letter
      of intent (the Letter) whereby in consideration for the issuance of
      15,000,000 shares of common stock, the Company will acquire 100% of the
      issued and outstanding shares of common stock outstanding of Aegis
      Industries, Inc., a Delaware company (AI Inc.);
| |    |                                                                                                                                                                                                                                                                                                                                                    
| |    | Working together with the AI Inc., the Company will
      secure $11,000,000 in financing as follows:                                                                                                                                                                                                                                              
| |    |                                                                                                                                                                                                                                                                                                                                                    
| |    | (i)                                                                                                                                                                                                                                                                                                                                                
| |    | (ii)                                                                                                                                                                                                                                                                                                                                               
| |    | (iii)                                                                                                                                                                                                                                                                                                                                              
| |    | (iv)                                                                                                                                                                                                                                                                                                                                               
| |    |                                                                                                                                                                                                                                                                                                                                                    
| |    | By amending agreement dated January 25, 2007and March 8,
      2007, a definitive agreement will be entered into on or before April 30,
      2007. The definitive agreement will provide for the payment of 600,000
      shares of the Companys common stock as a finders fee.                                                                 
| |    |                                                                                                                                                                                                                                                                                                                                                    
| |    | The acquisition of AI Inc. will constitute a change in
      business to the design, development and manufacture of intermediate force
      options for military, law enforcement and security
  forces.                                                                                                                                          

- 9 -

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| |    | During the three months ended January 31, 2007, AI Inc.
      paid expenses on behalf of the Company, totaling $37,785. This amount is
      included in accounts payable and accrued liabilities on the balance sheet
      at January 31, 2007;                                                                                                     
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    |                                                                                                                                                                                                                                                                                                                                                       
| | c. | On December 1, 2006, the Company entered into a contract
      for investor relations services requiring the payment of $10,000 per month
      expiring on November 30, 2008. This commitment can be terminated by either
      party with 30 days written notice;                                                                                  
| |    |                                                                                                                                                                                                                                                                                                                                                       
| | d. | On December 1, 2006, the Company entered into a contract
      for management services with a company controlled by a director and
      officer of the Company requiring the payment of $4,000 per month for a
      period of two years expiring on November 30, 2008. This commitment can be
      terminated by either party with 30 days notice;
| |    |                                                                                                                                                                                                                                                                                                                                                       
| | e. | On January 5th, 2007, the Company entered into
      an office lease at $2,350 per month expiring June 30, 2007. Occupancy
      beyond the expiry date will be on a month to month basis subject to a
      sixty day notice of termination by either party.                                                                                         

8.      Comparative Figures

Certain of the prior periods comparative figures for the three
months ended January 31, 2006 and for the period February 5, 2004 (Date of
Inception) to January 31, 2007 have been reclassified to conform with the
presentation used in the current period.

- 10 -

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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.

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

RISKS RELATED TO OUR BUSINESS

Investors should carefully consider the risks described
below before deciding whether to invest in our common stock. The risks described
below are not the only ones we face. Additional risks not presently known to us
or that we currently believe are immaterial may also impair our business
operations and financial results. If any of the following risks actually occurs,
our business, financial condition or results of operations could be adversely
affected. In such case, the trading price of our common stock could decline and
you could lose all or part of your investment. Our filings with the Securities
and Exchange Commission also contain forward-looking statements that involve
risks and uncertainties. Our actual results could differ materially from those
anticipated in these forward-looking statements as a result of certain factors,
including the risks we face described below. See "Forward-Looking Statements."

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 year in our contemplated new
business. We expect our operating expenses to increase as we start our new
operations. Our ability to achieve profitability depends on our ability to
penetrate the intermediate forces products and services industry, the continued
market acceptance of our products and services, the competitiveness of products
and services as well as our ability to provide new products and services to meet
the demands of our customers.

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 Paul Evancoe, our President and chief
executive officer, and Mr. David M. Kirby, our director and finally, our CFO and
third director, Mr. Dennis Mee. We do not maintain key man life insurance on our
executive officers. If our executive officers are unable or unwilling to
continue in their present positions, we may not be able to replace them 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 AI Inc., which contains
confidentiality and non-competition provisions. However, we cannot assure you
the extent to which any of these agreements could be enforced.

Inability of Our Officers and Directors to Devote
Sufficient Time to the Operation of the Business May Limit Our Success.Presently, the officers and directors of the Company allocate only a
portion of their time to the operation of our business. If the business requires
more time for operations than anticipated or the business develops faster than
anticipated, the officers and directors may not be able to devote sufficient
time to the operation of the business to ensure that it continues as a going
concern. Even if this lack of sufficient time of our management is not fatal to
our existence, it may result in limited growth and success of the business.

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 intermediate forces
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.

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, and according FASB 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. As a result, if we were to grant options to directors
and employees, we would have to account for compensation costs for all share
options using a fair-value based method and recognize expenses in our 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.

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We are subject to new corporate governance and internal
control reporting requirements, and our costs related to compliance with, or our
failure to comply with existing and future requirements, could adversely affect
our business.We may face new corporate governance requirements
under the Sarbanes-Oxley Act of 2002, as well as new rules and regulations
subsequently adopted by the SEC and the Public Company Accounting Oversight
Board. These laws, rules and regulations continue to evolve and may become
increasingly stringent in the future. In particular, under rules proposed by the
SEC on August 6, 2006 we will be required to include management's report on
internal controls as part of our annual report for the fiscal year ending
September 30, 2008 pursuant to Section 404 of the Sarbanes-Oxley Act.
Furthermore, under the proposed rules, an attestation report on our internal
controls from our independent registered public accounting firm will be required
as part of our annual report for the fiscal year ending September 30, 2009. We
are in the process of evaluating our control structure to help ensure that we
will be able to comply with Section 404 of the Sarbanes-Oxley Act. The financial
cost of compliance with these laws, rules and regulations is expected to be
substantial. We cannot assure you that we will be able to fully comply with
these laws, rules and regulations that address corporate governance, internal
control reporting and similar matters. Failure to comply with these laws, rules
and regulations could materially adversely affect our reputation, financial
condition and the value of our securities.

Shell companyWe are a shell company, have no
operations and do not generate revenue. We have entered into the LOT with AI
Inc. to enter into a business combination. If that transaction is not
consummated, we will pursue another acquisition of an operating company. There
can be no assurance that the business combination with AI Inc. will be
consummated or that we will be able to acquire an operating company or business.
Further, if we are able to acquire an operating company or business, there is no
assurance that we will be able to operate profitably. Although there arc many
companies that are looking to become public through a reverse acquisition /
shell merger, there is competition for attractive acquisition candidates and
there can be no assurance that we will be able to find a suitable acquisition.

The original shareholders and other shareholders acquired
shares at extremely low prices.Our original shareholders acquired
shares at $0.001 and $ 0.01 per share, and we have other shareholders who have
acquired shares under the prospectus, filed on November 14, 2005, who paid $0.1
per share. The closing price of our common stock was trading at the market close
on January 26, 2007 was $0.85. The original shareholders could liquidate their
shares at prices substantially below the price paid by the later shareholders
and still realize a substantial profit. The shareholders who purchased their
shares for $0.1 could liquidate their shares at prices substantially below the
price paid by shareholders in the private placement and still realize a
substantial profit.

Risks Relating to an Investment in our Securities

Our Independent Auditors Report States that there is a
Substantial Doubt that we will be able to Continue as a Going Concern.Our independent auditors, Amisano Hanson, Chartered Accountants,
state in their audit report, dated January 18, 2007, except as to Note 10(iv)
which is as of January 25, 2007, that since we are a development stage company,
have no established source of revenue and are dependent on our ability to raise
capital from shareholders or other sources to sustain operations, there is a
substantial doubt that we will be able to continue as a going concern.

GENERAL

Aegis Industries, Inc. (formerly Major Creations Incorporated )
(Aegis or the Company) was incorporated under the laws of the state of
Nevada on February 5, 2004, and was engaged in the business of selling new,
small diesel tractors which were modified to have a vintage styled appearance.
With the appointment of new directors and officers of the Company in November
2006, the Company no longer intends to pursue this business. The Company has
entered into a non-binding Letter of Intent (Letter) with Aegis Industries,
Inc., a Delaware corporation (AI Inc.), a company in the business of
designing, developing and manufacturing intermediate force options for military,
law enforcement and security forces, to acquire all of the issued and
outstanding shares of AI Inc. The shareholders of AI Inc. are not signatories to
the Letter and, as a result, it is not binding upon them.

The Letter contemplates the Company performing a number of due
diligence procedures on the business and affairs of AI Inc., including review of
its financial statements. AI Inc. does not at this time have significant
revenues. By amending agreement dated January 25, 2007 and March 8, 2007, the
Letter further contemplates that the Company and the shareholders of AI Inc.
enter into a definitive agreement on or before April 30, 2007 on similar terms
and conditions as outlined in the Letter.

The Letter calls for the issuance of up to 15,000,000 common
shares of the Company in exchange for the purchase of all of the issued and
outstanding shares of AI Inc. The intent is that the shareholders of AI Inc.
should hold, after closing, that number of common shares of the Company which is
equal to approximately 25% of the issued and outstanding shares of the Company.

The Letter, as amended, provides that the definitive agreement
  shall state that closing is to occur on or before April 30, 2007. It is the
  intention, as stated in the Letter as amended, that the Company should raise
  funds totaling $11,000,000 as follows: $2,000,000 on or before April 30, 2007;
  $2,000,000 on or before May 31, 2007; $2,000,000 on or before August 30, 2007;
  and an additional $5,000,000 on or before April 30, 2008.

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As of the date of this Report, the Company does not have these
  funds available to it at this time and cannot say that these funds will be made
  available to it. Any attempt to raise these funds, through debt or equity financing,
  would likely result in dilution to existing shareholders and / or the granting
  of security on the assets of the Company, if any.

Pursuant to the Letter, as amended, the Company has loaned
$545,283 to AI Inc.

There can be no assurance given that the Company will proceed
with any proposed acquisition of AI Inc. or that a definitive agreement will be
entered into by the Registrant and the shareholders of AI Inc. There can be no
assurance given that any terms and conditions on closing of the acquisition of
AI Inc. will be met including the condition that AI Inc.s financial history
must be auditable according to US GAAP standards so that audited, pro forma
financial statements can be filed upon closing of any proposed acquisition.

As of the date of this Report, the Company has no business
operations at present and no working capital.

The Companys 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 the
Company will be successful. We will continue to evaluate possible business
projects and our projected expenditures thereon relative to our available cash
and to seek additional means of financing in order to satisfy our working
capital and other cash requirements.

Principal Products and ServicesIf the
Company enters into a definitive agreement with AI Inc. and is successful in
closing an acquisition of AI Inc. the Companys business will focus on
developing intermediate-force devices and unique training programs that are
effective with acceptable Human Effects. Non-Lethal devices are of great
interest to the military and civilian sectors and are used increasingly around
the world in peacekeeping missions. The philosophy is to innovate beyond current
market products by designing devices that can be used intelligently to
facilitate the transfer throughout the force continuum and are full dimensional
in scope, ranging from a warning to full engagement and final threat resolution.
Key to the Aegis approach is simplicity, multi-functionality and compatibility
with other NLW including features for increased stand-off and effective crowd
control.

RESULTS OF OPERATIONS

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 audited financial
statements and notes filed on Form 10-KSB on January 29, 2007.

Limited Operating History

There is limited historical financial information about our
company upon which to base an evaluation of our future performance. Our company
does not currently have a business and, accordingly, has yet to generate
revenues from operations. We cannot guarantee that we will be successful in our
business. We are subject to risks inherent in a fast growing company, including
limited capital resources, possible delays in product development and
manufacturing, and possible cost overruns due to price and cost increases. There
is no assurance that future financing will be available to our company on
acceptable terms. Additional equity financing could result in dilution to
existing shareholders.

In November of 2006, the Company undertook to change its focus
from providing customers with vintage style tractors to the business of
designing, developing and manufacturing intermediate force options for military,
law enforcement and security forces.

In keeping with its intention to develop a business in the
intermediate force, the Company:

| | 1. | Retained new officers and directors;                                        
| | -- | ----------------------------------------------------------------------------
| | 2. | Entered into a Letter of intent with Aegis Industries,
      Inc. (AI Inc.);
| | 3. | Increased its authorized capital;                                           
| | 4. | changed its name to Aegis Industries, Inc.; and                             
| | 5. | Initiated due diligence of the business operations of AI
      Inc.;        

We have financed our operations since inception primarily
through private sales of securities. As of January 31, 2007 we had $19,191 in
cash, and a working capital deficiency of $145,929.

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Three-month period ended January 31, 2007

The following table sets forth our statements of operations for
the quarter ended January 31, 2007.

ExpensesCorporate development, marketing and
      promotion
    $
    43,320Professional fees
    
    32,314Management fees
    
    8,480Interest expense
    
    8,852Other, general and administrative
    
    10,142Loss before other items
    
    (103,108
    )Interest income
    
    82Net loss
    $
    (103,026
    )


As discussed above, in 2005, we had no business, and in 2006,
our business focus began to change to designing, developing and manufacturing
intermediate force options for military, law enforcement and security forces,
from the sale of vintage styled tractors, with the Company entering into the
non-binding Letter with AI Inc. as described above. Due to the significant
changes in our operations, we believe that a comparison of results of operations
for the first quarter of the years ended October 31, 2007 and 2006 should not be
relied on as an indication of future performance. Factors that may cause our
results of operations to fluctuate include those discussed in the Risk
Factors.

Revenues

For the quarter ended January 31, 2007, we had no revenues from
operations, and interest income of $82.

Expenses and general and administrative expenses

During the fiscal quarter ended January 31, 2007, the Company
incurred total expenses of $103,108. These expenses were related mainly to costs
associated with the contemplated change in business and activities associated
with the maintenance of a public listing, such as communication shareholders,
legal and accounting fees, and corporate development and promotion. 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.

Discontinued Operations

Due to the contemplate significant changes in business, we
anticipate that part of our results of operations for the year ended October 31,
2006 and all the results for the period form Inception to October 31, 2005, will
be as reclassified as results from discontinued operations to conform to this
new business and presentation.

Liquidity and Capital Resources

As of January 31, 2007, we had cash and cash equivalents of
$19,191 and working capital deficiency of $145,929. Since inception, we funded
our operations from private sales of equity and short term borrowings. We
believe our current strategies will provide sufficient working capital to fund
our operations for at least the next 12 months assuming we enter into a
definitive agreement with AI Inc. Changes in our operating plans , increased
expenses, additional acquisitions, or other events, may cause us to seek
additional equity or debt financing in the future.

For the quarter ended January 31, 2007, we used $85,925 of cash
in operations. Net cash used by operating activities reflected $28,990 in
prepaid expenses, $764 in amortization, an increase in accounts payable of
$35,057 and increase in accrued interest of $8,770. Investment activities used
$545,283 of cash during the period, which consisted of loans to AI Inc.

Financing activities provided $650,400 of cash during the
period from demand loans.

Our current cash requirements are significant due to our change
in business, including the acquisition of AI Inc., start up and other
operational expenses. During the third quarter of our fiscal year 2007, we
expect to need significant cash as we begin to ramp up the operations. We will
need money to build inventory, build working capital and to fund operations.
Accordingly, we expect to continue

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to use cash for at least fiscal 2007 as we commence our new
business operations (See Plan of Operations below).

In the past, we paid cash for our inventory purchases. With
this new business, we plan on negotiating credit terms with our vendors. We also
paid cash for our equipment purchases. In the future, we plan to finance some of
our equipment purchases by short term bank borrowings and by establishing a
working capital line of credit.

Recent Financings

Notes payable

On October 12, 2006, a loan payable in the amount of $19,600,
bearing interest at 12% per annum, was received. Principal and accrued interest
due in 90 days. On January 15, 2007, the principal amount of the loan was
repaid. As at January 31, 2007 $619 in accrued interest was due in relation to
this note.

On November 15, 2006, the Company received loan proceeds of
$5,000. The amount is unsecured and is due on demand but demand cannot be made
earlier than May 15, 2007. The principal amount bears interest at 12% per annum
calculated monthly. Any payments of principal or interest in arrears bear
interest at 12% per annum calculated annually. Default in payment shall, at the
option of the holder, render the entire balance payable. Accrued interest of
$128 is included in loans payable at January 31, 2007.

On November 28, 2006, the Company received loan proceeds of
$315,000. The amount unsecured and is due on demand but demand cannot be made
earlier than May 29, 2007. The principal amount bears interest at 12% per annum
calculated monthly. Accrued interest of $6,732 is included in loans payable at
January 31, 2007.

On December 20, 2006, the Company received loan proceeds of
$100,000. The amount is unsecured and is due on demand. The principal amount
bears interest at 12% per annum calculated monthly. Accrued interest of $1,414
is included in loans payable at January 31, 2007.

On January 31, 2007, the Company received loan proceeds of $250,000.
  The amount is unsecured and is due on demand. The principal amount bears interest
  at 12% per annum calculated monthly. Accrued interest of $82 is included in
  loans payable at January 31, 2007.

Critical Accounting Policies

The preparation of financial statements in conformity with
United States generally accepted accounting principles requires management of
our company to make estimates and assumptions that affect the reported amounts
of assets and liabilities, the disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues and
expenses during the reporting periods.

Our management routinely makes judgments and estimates about
the effects of matters that are inherently uncertain. As the number of variables
and assumptions affecting the probable future resolution of the uncertainties
increase, these judgments become even more subjective and complex. Our
significant accounting policies are discussed in Note 2 to our financial
statements for the fiscal year ended October 31, 2006 files on Form 10KJSB on
January 29, 2007 and in Note 2 of our financial statements for the quarter ended
January 31, 2007 included in this Report. We have identified the following
accounting policy, described below, as the most important to an understanding of
our current financial condition and results of operations.

Development stage company

As defined by SFAS No. 7,Financial Statements, the
Company has been in the development stage since its formation on February 5,
2004, and has not yet realized any revenues from its planned operations. The
Company is devoting substantially all of its present efforts towards the change
of business as described elsewhere in this Report.

Plan of Operations

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.

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

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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 Report, assuming the closing of the acquisition of AI Inc.:

|(a)    | Personnel costs
      in the United States:                | $ | 100,000   |  | 
|------ | ---------------------------------------------------------- | - | --------- |  | 
|(b)    | Product research &
      development:                      | $ | 360,000   |  | 
|(c)    | Medical research
      & development                       | $ | 2,700,000 |  | 
|(d)    | US Army research &
      development                       | $ | 100,000   |  | 
|(e)    | Administration,
      sales and marketing office:          | $ | 160,000   |  | 
|(f)    | General and administrative
      expenses:                 | $ | 110,000   |  | 
|(g)    | Professional fees
      and expenses, regulatory expenses: | $ | 155,000   |  | 
|(h)    | Shareholder communications:                                | $ | 85,000    |  | 
|(i)    | Travel,
      Miscellaneous, Unallocated                   | $ | 95,000    |  | 
|       |                                                            |   |           |  | 
|Total: |                                                            | $ | 3,865,000 |  | 

As of the date of this report, we have $19,191 in cash. The
amounts noted above reflect our current cash resources and assume that we will
raise, through equity or convertible debt, approximately $4,000,000 over 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.

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 plans to hire
personal for 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 twelve 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.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements, as defined
in Item 303(c)(2) of Regulation S-B.

ITEM 3. CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures.

Evaluation of disclosure controls and procedures.

An evaluation was performed under the supervision and with the
participation of our management, including the chief executive officer and the
chief financial officer, of the effectiveness of the design and operation of our
disclosure procedures. Based on management's evaluation as of the end of the
period covered by this Annual Report, our principal executive officer and chief
financial officer have concluded that our disclosure controls and procedures (as
defined in Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of
1934, as amended (the "Exchange Act")) were sufficiently effective to ensure
that the information required to be disclosed by us in the reports that we file
under the Exchange Act is gathered, analyzed and disclosed with adequate
timeliness, accuracy and completeness.

(b) Changes in Internal Control Over Financial Reporting.

There have been no significant changes in our internal controls
or in other factors that could significantly affect these controls subsequent to
the date of the evaluation referred to above, nor were there any significant
deficiencies or material weaknesses in our internal controls. Accordingly, no
corrective actions were required or undertaken.

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PART II  OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS

None

ITEM 5. OTHER INFORMATION

None

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.

|3.1  | Articles of Incorporation, incorporated
        by reference to the Exhibits filed with our Registration Statement on
        Form SB-2 filed on February 17, 2005, SEC File Number 333-122870
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|     |                                                                                                                                                                                               
|3.2  | By-laws, incorporated by reference
        to the Exhibits filed with our Registration Statement on Form SB-2 filed
        on February 17, 2005, SEC File Number 333-122870.                 
|     |                                                                                                                                                                                               
|3.3  | Article of Merger filed with the Secretary
        of State of Nevada, incorporated by reference from Exhibit 3.1 to the
        Form 8-K filed April 10, 2006.                               
|     |                                                                                                                                                                                               
|10.1 | Management agreement with Dennis Mee,
        incorporated by reference from Exhibit 10.1 to our Form 8-K filed December
        5, 2006                                                      
|     |                                                                                                                                                                                               
|10.2 | Non-binding Letter of Intent between
        the Company and AI Inc., dated November 16, 2006, incorporated by reference
        from Exhibit 10.1 to our Form 8-K filed November 17, 2006.   
|     |                                                                                                                                                                                               
|31.1 | Section 302 Certification
         Chief Executive Officer                                                                                                                                   
|     |                                                                                                                                                                                               
|31.2 | Section 302 Certification
         Chief Financial Officer                                                                                                                                   
|     |                                                                                                                                                                                               
|32.1 | Certification Pursuant to
        18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
        Act of 2002  Chief Executive Officer.                             
|     |                                                                                                                                                                                               
|32.2 | Certification Pursuant to
        18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
        Act of 2002  Chief Financial Officer.                             

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SIGNATURES

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

**AEGIS INDUSTRIES, INC.**By:
      /s/ Paul EvancoePaul EvancoePresident, CEO and DirectorDate: March 14, 2007


In accordance with the Exchange Act, this Report has been
signed by the following persons on behalf of the registrant and in the
capacities and on the dates included:

By:
    /s/ Dennis MeeDennis MeeChief Financial Officer,
      Secretary and DirectorDate: March 14, 2007By:
    /s/ David KirbyDavid KirbyDirectorDate: March 14, 2007


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