| For Quarter Ended:May 31,      2008 |   | Commission File Number:000-53121 |
|-------------------------------------|--------|----------------------------------|

| COLORADO                                      | 47-0883144                                |
|-----------------------------------------------|-------------------------------------------|
| (State      or other jurisdiction of          | (I.R.S.      Employer Identification No.) |
| incorporation      or organization)           |                                      |
|                                          |                                      |
|                                          |                                      |
| 16200 WCR 18E,      Loveland, Colorado        | 80537                                     |
| (Address      of principal executive offices) | (Zip      code)                           |

----

|         |                                                                                     | Page   |
|--------------|------------------------------------------------------------------------------------------|--------|
|         |                                                                                     |   |
| Part      I  |                                                                                     |
|         | Item      1.  Financial Statements                                             | 3      |
|         | Item      2.  Management's Discussion and Analysis or Plan of      Operation   | 8      |
|         | Item      3.  Controls and Procedures                                          | 17     |
|         |                                                                                     |   |
| Part      II |                                                                                     |
|         | Item      1.  Legal Proceedings                                                | 17     |
|         | Item      2.  Unregistered Sales of Equity Securities and Use of      Proceeds | 17     |
|         | Item      3.  Defaults Upon Senior Securities                                  | 17     |
|         | Item      4.  Submission of Matters to a Vote of Security      Holders         | 17     |
|         | Item      5.  Other Information                                                | 18     |
|         | Item      6.  Exhibits                                                         | 18     |
|         |                                                                                     |   |
| Signatures   | 18                                                                                       |

----

|                                                                     |   | May      31, |     |   | August      31, |   |
|--------------------------------------------------------------------------|--------|--------------|----------|--------|-----------------|--------|
|                                                                     |   | 2008         |     |   | 2007            |   |
|                                                                     |   | (Unaudited)  |     |   |            |   |
| Assets                                                                   |   |         |     |   |
|                                                                     |   |         |     |   |            |   |
| Current      Assets:                                                     |   |         |     |   |            |   |
| Cash                                                                     |   | $            | 43,618   |   |            | $      | 23,358 |   |
| Prepaid      asset                                                       |   |         | 155      |   |            |   | — |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Total      current assets                                                |   |         | 43,773   |   |            |   | 23,358 |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Property      and equipment, net                                         |   |         | 38,336   |   |            |   | 36,315 |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Total      assets                                                        |   | $            | 82,109   |   |            | $      | 59,673 |   |
|                                                                     |   |         |     |   |            |   |   |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Liabilities      and Shareholders’ Equity                          |   |         |     |   |            |
| Current      liabilities:                                                |   |         |     |   |            |   |   |   |
| Accrued      interest payable, related party                             |   | $            | 6,324    |   |            | $      | 4,726 |   |
| Accounts      payable                                                    |   |         | —  |   |            |   | 1,741 |   |
| Security      deposit                                                    |   |         | 500      |   |            |   | — |   |
| Loans      payable to related party                                      |   |         | 37,500   |   |            |   | 34,400 |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Total      current liabilities                                           |   |         | 44,324   |   |            |   | 40,867 |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Shareholders’      equity:                                         |   |         |     |   |            |   |   |   |
| Common      stock, no par value; 20,000,000 shares authorized,           |   |         |     |   |            |   |   |   |
| 3,389,000      and 3,150,000 shares issued and outstanding, respectively |   |         | 205,250  |   |            |   | 145,500 |   |
| Additional      paid-in capital                                          |   |         | 15,176   |   |            |   | 11,461 |   |
| Accumulated      other comprehensive gain                                |   |         | 712      |   |            |   | 417 |   |
| Accumulated      deficit                                                 |   |         | (500     | )      |            |   | (500 | ) |
| Deficit      accumulated during development stage                        |   |         | (182,853 | )      |            |   | (138,072 | ) |
| Total      shareholder’s equity                                    |   |         | 37,785   |   |            |   | 18,806 |   |
|                                                                     |   |         |     |   |            |   |   |   |
| Total      liabilities and shareholders' equity                          |   | $            | 82,109   |   |            | $      | 59,673 |   |

----

|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   | March      1, |      |
|---------------------------------------------------|--------|---------------------------------|-----------|--------|--------------------------------|--------|-----------|--------------|--------|--------|-----------|--------|--------|---------------|-----------|
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   | 2005          |      |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   | (Inception)   |      |
|                                              |   | For      the Three Months Ended |      |   | For      the Nine Months Ended |   |      | Through      |   |
|                                              |   | May      31,                    |      |   | May      31,                   |   |      | May      31, |   |
|                                              |   | 2008                            |      |   | 2007                           |   |      | 2008         |   |   | 2007      |   |   | 2008          |      |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |
| Revenue                                           |   | $                               | —   |   |                           | $      | —   |         |   | $      | —   |   |   | $             | —   |   |   | $ | — |   |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Operating      expenses:                          |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Professional      fees                            |   |                            | 8,514     |   |                           |   | 5,429     |         |   |   | 16,787    |   |   |          | 14,916    |   |   |   | 38,691 |   |
| Contributed      services, related party (Note 3) |   |                            | 600       |   |                           |   | 300       |         |   |   | 3,275     |   |   |          | 900       |   |   |   | 12,671 |   |
| General      and administrative                   |   |                            | 8,205     |   |                           |   | 8,011     |         |   |   | 23,121    |   |   |          | 19,887    |   |   |   | 125,167 |   |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Total      operating expenses                     |   |                            | 17,319    |   |                           |   | 13,740    |         |   |   | 43,183    |   |   |          | 35,703    |   |   |   | 176,529 |   |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Loss      from operations                         |   |                            | (17,319   | )      |                           |   | (13,740   | )            |   |   | (43,183   | )      |   |          | (35,703   | ) |   |   | (176,529 | ) |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Other      Income (Expense)                       |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Interest      expense                             |   |                            | (566      | )      |                           |   | (516      | )            |   |   | (1,598    | )      |   |          | (1,548    | ) |   |   | (6,324 | ) |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Total      other expenses                         |   |                            | (566      | )      |                           |   | (516      | )            |   |   | (1,598    | )      |   |          | (1,548    | ) |   |   | (6,324 | ) |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Net      loss                                     |   |                            | (17,885   | )      |                           |   | (14,256   | )            |   |   | (44,781   | )      |   |          | (37,251   | ) |   |   | (182,853 | ) |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Other      Comprehensive Income (Loss)            |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Gain      on foreign currency exchange            |   |                            | —   |   |                           |   | 482       |         |   |   | 295       |   |   |          | 482       |   |   |   | 712 |   |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Total      Comprehensive Loss                     |   | $                               | (17,885   | )      |                           | $      | (13,774   | )            |   | $      | (44,486   | )      |   | $             | (36,769   | ) |   | $ | (182,141 | ) |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Basic      and diluted loss per share             |   | $                               | (0.01     | )      |                           | $      | (0.00     | )            |   | $      | (0.01     | )      |   | $             | (0.01     | ) |   |   |   |   |
|                                              |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| Basic      and diluted weighted average           |   |                            |      |   |                           |   |      |         |   |   |      |   |   |          |      |   |   |   |   |   |
| common      shares outstanding                    |   |                            | 3,389,000 |   |                           |   | 3,150,000 |         |   |   | 3,297,383 |   |   |          | 3,150,000 |   |   |   |   |   |

----

|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   | Deficit     |   |
|-----------------------------------------------------|--------|-------------------|-----------|--------|---------|--------|---------|---------------|--------|--------|-------------|--------|--------|-------------|---------|--------|-------------|--------|
|                                                |   |              |      |   |    |   |    |          |   |   | Accumulated |   |   |        |    |   | Accumulated |   |
|                                                |   |              |      |   |    |   |    | Additional    |   |   | Other       |   |   |        |    |   | During      |   |
|                                                |   | Common      Stock |      |   | Paid-in |   |    | Comprehensive |   |   | Accumulated |   |   | Development |    |
|                                                |   | Shares            |      |   | Amount  |   |    | Capital       |   |   | Gain        |   |   | Deficit     |    |   | Stage       |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |
| Balance      at March 1, 2005 (inception)           |   |              | 100,000   |   |    | $      | 500     |          |   | $      | 100         |   |   | $           | — |   |        | $      | (500 | ) |   | $ | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Common      stock issued in exchange for a          |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Sailing      vessel at $0.034 per share             |   |              | 1,150,000 |   |    |   | 39,000  |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Net      loss, period ended August 31, 2005         |   |              | —   |   |    |   | — |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | (18,677 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Balance      at August 31, 2005                     |   |              | 1,250,000 |   |    |   | 39,500  |          |   |   | 100         |   |   |        | — |   |        |   | (500 | ) |   |   | (18,677 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Common      stock issued for services               |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| at      $0.04 per share                             |   |              | 700,000   |   |    |   | 28,000  |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Common      stock issued for services to a          |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| related      party at $0.04 per share               |   |              | 700,000   |   |    |   | 28,000  |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Common      stock issued for cash                   |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| at      $0.10 per share                             |   |              | 500,000   |   |    |   | 50,000  |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Contributed      capital                            |   |              | —   |   |    |   | — |          |   |   | 1,965       |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Net      loss, year ended August 31, 2006           |   |              | —   |   |    |   | — |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | (70,441 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Balance      at August 31, 2006                     |   |              | 3,150,000 |   |    |   | 145,500 |          |   |   | 2,065       |   |   |        | — |   |        |   | (500 | ) |   |   | (89,118 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Contributed      capital                       |   |              | —   |   |    |   | — |          |   |   | 925         |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Office      space contributed by an officer         |   |              | —   |   |    |   | — |          |   |   | 1,200       |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Services      contributed by an officer             |   |              | —   |   |    |   | — |          |   |   | 7,271       |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Foreign      currency exchange gain                 |   |              | —   |   |    |   | — |          |   |   | —     |   |   |        | 417     |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Net      loss, year ended August 31, 2007           |   |              | —   |   |    |   | — |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | (48,954 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Balance      at August 31, 2007                     |   |              | 3,150,000 |   |    |   | 145,500 |          |   |   | 11,461      |   |   |        | 417     |   |        |   | (500 | ) |   |   | (138,072 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Common      stock issued for cash                   |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| at      $0.25 per share (unaudited)                 |   |              | 239,000   |   |    |   | 59,750  |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Office      space contributed by an officer         |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| (unaudited)                                         |   |              | —   |   |    |   | — |          |   |   | 900         |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Services      contributed by an officer (unaudited) |   |              | —   |   |    |   | — |          |   |   | 2,375       |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Contributed      capital (unaudited)                |   |              | —   |   |    |   | — |          |   |   | 440         |   |   |        | — |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Foreign      currency exchange gain (unaudited)     |   |              | —   |   |    |   | — |          |   |   | —     |   |   |        | 295     |   |        |   | — |   |   |   | — |   |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Net      loss, quarter ended May 31, 2008           |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| (unaudited)                                         |   |              | —   |   |    |   | — |          |   |   | —     |   |   |        | — |   |        |   | — |   |   |   | (44,781 | ) |
|                                                |   |              |      |   |    |   |    |          |   |   |        |   |   |        |    |   |        |   |   |   |   |   |   |   |
| Balance      at May 31, 2008 (unaudited)            |   |              | 3,389,000 |   |    | $      | 205,250 |          |   | $      | 15,176      |   |   | $           | 712     |   |        | $      | (500 | ) |   | $ | (182,853 | ) |

----

|                                                   |   |                           |    |   |         |   |    | March      1, |   |
|--------------------------------------------------------|--------|--------------------------------|---------|--------|--------------|--------|---------|---------------|--------|
|                                                   |   |                           |    |   |         |   |    | 2005          |   |
|                                                   |   |                           |    |   |         |   |    | (Inception)   |   |
|                                                   |   | For      the Nine Months Ended |    |   | Through      |   |
|                                                   |   | May      31,                   |    |   | May      31, |   |
|                                                   |   | 2008                           |    |   | 2007         |   |    | 2008          |   |
| Cash      flows from operating activities:             |   |                           |    |   |         |   |    |          |   |
| Net      loss                                          |   | $                              | (44,781 | )      |         | $      | (37,251 | )             |   | $ | (182,853 | ) |
| Adjustments      to reconcile net loss to net cash     |   |                           |    |   |         |   |    |          |   |   |   |   |
| used      by operating activities:                     |   |                           |    |   |         |   |    |          |   |   |   |   |
| Depreciation      expense                              |   |                           | 5,445   |   |         |   | 4,815   |          |   |   | 20,958 |   |
| Contributed      capital to fund expenses              |   |                           | 3,715   |   |         |   | 7,850   |          |   |   | 15,076 |   |
| Common      stock issued for services                  |   |                           | — |   |         |   | — |          |   |   | 56,000 |   |
| Changes      in operating assets and liabilities:      |   |                           |    |   |         |   |    |          |   |   |   |   |
| (Increase)      decrease in prepaid services.          |   |                           | (155    | )      |         |   | 750     |          |   |   | (155 | ) |
| Increase      (decrease) in accounts payable           |   |                           |    |   |         |   |    |          |   |   |   |   |
| and      accrued liabilities                           |   |                           | 652     |   |         |   | 2,030   |          |   |   | 7,536 |   |
| Net      cash used in                                  |   |                           |    |   |         |   |    |          |   |   |   |   |
| operating      activities                              |   |                           | (35,124 | )      |         |   | (21,806 | )             |   |   | (83,438 | ) |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| Cash      flows from investing activities:             |   |                           |    |   |         |   |    |          |   |   |   |   |
| Cash      paid for fixed assets                        |   |                           | (7,466  | )      |         |   | — |          |   |   | (20,294 | ) |
| Net      cash used in                                  |   |                           |    |   |         |   |    |          |   |   |   |   |
| investing      activities                              |   |                           | (7,466  | )      |         |   | — |          |   |   | (20,294 | ) |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| Cash      flows from financing activities:             |   |                           |    |   |         |   |    |          |   |   |   |   |
| Common      stock issued for cash                      |   |                           | 59,750  |   |         |   | — |          |   |   | 109,750 |   |
| Proceeds      from related party loans                 |   |                           | 3,100   |   |         |   | 2,400   |          |   |   | 37,500 |   |
| Net      cash provided by                              |   |                           |    |   |         |   |    |          |   |   |   |   |
| financing      activities                              |   |                           | 62,850  |   |         |   | 2,400   |          |   |   | 147,250 |   |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| Net      change in cash                                |   |                           | 20,260  |   |         |   | (19,406 | )             |   |   | 43,518 |   |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| Cash,      beginning of period                         |   |                           | 23,358  |   |         |   | 48,874  |          |   |   | 100 |   |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| Cash,      end of period                               |   | $                              | 43,618  |   |         | $      | 29,468  |          |   | $ | 43,618 |   |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| Supplemental      disclosure of cash flow information: |   |                           |    |   |         |   |    |          |   |   |   |   |
| Cash      paid during the period for:                  |   |                           |    |   |         |   |    |          |   |   |   |   |
| Income      taxes                                      |   | $                              | — |   |         | $      | — |          |   | $ | — |   |
| Interest                                               |   | $                              | — |   |         | $      | — |          |   | $ | — |   |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
|                                                   |   |                           |    |   |         |   |    |          |   |   |   |   |
| NON      CASH FINANCING ACTIVITIES:                    |   |                           |    |   |         |   |    |          |   |   |   |   |
| Common      stock issued for services                  |   | $                              | — |   |         | $      | — |          |   | $ | 56,000 |   |

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tax returns, as well as all open tax years in thesejurisdictions.  The Company has identified its federal tax return and itsstate tax return in Colorado as “major” tax jurisdictions, asdefined.  No prior periods are yet subject to examination as the initialreturns for the Company have not yet been 
filed. The Company believes that its income tax filing positions and deductions will besustained on audit and does not anticipate any adjustments that will result in amaterial adverse effect on the Company’s financial condition, results ofoperations, or cash flow.  Therefore, no reserves for uncertain income taxpositions have been recorded pursuant to FIN 48.  In addition, the Companydid not record a cumulative effect adjustment related to the adoption of FIN48.

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| ·   | Marine      Environment and Safety at Sea |
|--------------------|-------------------------------------------|

| ·   | Life      Rafts and Ditch Bags |
|--------------------|--------------------------------|

| ·   | Medical      Preparedness and First Aid |
|--------------------|-----------------------------------------|

| ·   | Features      of Offshore Capable Vessels |
|--------------------|-------------------------------------------|

| ·   | Rigging      and Deck Gear |
|--------------------|----------------------------|

| ·   | Tools,      Mechanical and Electrical Skills |
|--------------------|----------------------------------------------|

| ·   | Sails,      Ropework and Sewing |
|--------------------|---------------------------------|

| ·   | Sail      Handeling |
|--------------------|---------------------|

| ·   | 12      Volt Electrical Systems |
|--------------------|---------------------------------|

| ·   | Boat      Electronics, Instruments, Radio andRadar |
|--------------------|----------------------------------------------------|

| ·   | Auxillary      Diesel Maintenance and Repair |
|--------------------|----------------------------------------------|

| ·   | Heavy      Weather Seamanship |
|--------------------|-------------------------------|

| ·   | Weather,      Pilot Charts and Navigation |
|--------------------|-------------------------------------------|

| ·   | Passagemaking |
|--------------------|---------------|

| ·   | Boat      Maintenance, Provisioning and WasteDisposal |
|--------------------|-------------------------------------------------------|

| ·   | Ships      Papers, Zarpes and Permits |
|--------------------|---------------------------------------|

----

----

|  Vessel      Name                    |  Six      String                                            |
|-------------------------------------------|------------------------------------------------------------------|
|  Hailing      Port                   |  Loveland,      Colorado                                    |
|  Make/Model                          |  Jason 35      Cutter                                       |
|  Type                                |  Aft cockpit, cutter rigged      sailing vessel             |
|  Navigation      Limits              |  Suitable for recreational      costal and offshore service |
|  Current Fair      Market Value |  $43,000 to      $47,000                                    |
|  Replacement Value as      Equipped  |  $320,000                                                   |
|  Model      Year                     |  Hull constructed 1982 with      launch date in 1986        |
|  Builder                             |  Custom Yacht Builders,      Ontario, Canada                |
|  HIN      Number                     |  Canadian Issued:      0781B3401                            |
|  Official      Number                |  Federal Documentation      1092461                         |
|  Aux.      Propulsion                |  Faryman R30M 24HP naturally      aspired                   |
|  Hull/Deck      Color                |  White                                                      |
|  LOA                                 |  34 feet 6      inches                                      |
|  LWL                                 |  27 feet 4      inches                                      |
|  Beam                                |  11 feet 2      inches                                      |
|  Draft                               |  5  feet                                                    |
|  Displacement                   |  16,800 pounds dry      weight                              |
|  Sail    Area                        |  634 square      feet                                       |

----

----

| Staff                                                                                                                                                                                                                                        |   | $      | 4,000 |  (1) |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-------|-----------|
| Fuel      and      Phone                                                                                                                                                                                                                                                                  |   |   | 300   |      |
| Provisions      and      Supplies                                                                                                                                                                                                            |   |   | 900   |      |
| Travel      and      Lodging                                                                                                                                                                                                                                                         |   |   | 1,500 |      |
| Note      Interest                                                                                                             |   |   | 450   |      |
| Home      Office      Rent                                                                                                                                                                                                                                                                     |   |   | 300   |      |
| Bookkeeper                                                                                                                                                                            |   |   | 200   |      |
| Total                                                                                                                                                                                                                                        |   | $      | 7,600 |      |

| Staff                                                                                                                                                                                                                                              |   | $      | 4,000  |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Fuel      and      Phone                                                                                                                                                                                                                                                                        |   |   | 500    |   |
| Provisions      and Supplies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 2,700  |   |
| Travel      and      Lodging                                                                                                                                                                                                             |   |   | 500    |   |
| Note      Interest                                                                                                              |   |   | 500    |   |
| Home      Office      Rent                                                                                                                                                                                                                                                                           |   |   | 300    |   |
| Bookkeeper                                                                                                                                                                                                                                                                                                                                                                                                    |   |   | 250    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   |   |   |
| Total                                                                                                                                                                                                                                              |   | $      | 8,750  |   |

| One-time      costs for Form SB-2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $      | 11,500 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| One-time      Printing and      Postage                                                                                                                                                                                                                        |   |   | 1,000  |   |
| Total      One-Time Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | $      | 12,500 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |
| Annual      Audit, Form 10-K, Form      10Qs                                                                                                                                                                                                                                                                          |   |   | 12,500 |   |
| Annual      Transfer      agent                                                                                                                       |   |   | 2,500  |   |
| Annual      legal                                                                                                                                                                                       |   |   | 5,000  |   |
| Total      Annual Public Company Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $      | 20,000 |   |

----

| Quarterly      Revenue from Training Voyages           |   |   |    |
|--------------------------------------------------------|--------|--------|---------|
| $1,750      per student X 2 students X 6 voyages  |   | $      | 21,000  |   |
| Quarterly      Operating Expense                       |   |   | 8,750   |   |
| Quarterly      Public Company Expense                  |   |   | 5,000   |   |
| Quarterly      Marketing Expense                  |   |   | 750     |   |
| Less      Total Quarterly Expenses                |   |   | -14,500 |   |
| Estimated      Quarterly Cash Flow                     |   | $      | 6,500   |   |

----

----

|   | 31.1 | Certification      of Principal Executive and FinancialOfficer |
|--------|------|----------------------------------------------------------------|

|   | 32.1 | Section      1350 Certification |
|--------|------|---------------------------------|

| (b)   | Reports      on Form 8-K |
|-----------------|--------------------------|

|          | ROSEWIND      CORPORATION                        (Registrant) |                            |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------|
|          |                                                                                                                                                    |                            |   |
| July 14, 2008 | By:                                                                                                                                                     | /s/  James B. Wiegand |   |
|          |                                                                                                                                                    | James B.      Wiegand           |   |
|          |                                                                                                                                                    | President                       |   |
|          |                                                                                                                                                    |                            |   |

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