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

| Large accelerated filer [ ] | Accelerated filer [ ]         |
|-----------------------------|-------------------------------|
| Non-accelerated filer [ ]   | Smaller Reporting Company [X] |

----

|                                                                                                                                    |   Page |
|-----------------------------------------------------------------------------------------------------------------------------------------|------------------|
| PART I  FINANCIAL INFORMATION                                                                                            |             |
| Item 1. Financial Statements for the period ended February 28, 2011                                                                     |             |
|           Consolidated Balance Sheets (Unaudited)                                     |   3         |
|           Consolidated Statements of Operations (Unaudited)                           |   4         |
|           Consolidated Statements of Shareholders’ Equity (Deficit) (Unaudited) |   5    |
|           Consolidated Statements of Cash Flows (Unaudited)                           |   7         |
|           Notes to Consolidated Financial Statements (Unaudited)                      |   8         |
|                                                                                                                                    |             |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations                                     |   9    |
|  Item 3. Quantitative and Qualitative Disclosures About Market Risk                                                                |  10         |
| Item 4. Controls and Procedures                                                                                                         |  10         |
|  Item 4T. Controls and Procedures                                                                                                  |  10         |
|                                                                                                                                    |             |
| PART II  OTHER INFORMATION                                                                                                    |             |
|                                                                                                                                    |             |
|   Item 1. Legal Proceedings                                                                                                   |  11    |
|   Item 1A.  Risk Factors                                                                                            | 11               |
|   Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                                         | 15               |
|   Item 3. Defaults Upon Senior Securities                                                                                     | 15               |
|   Item 4. Submission of Matters to a Vote of Security Holders                                                                 | 16               |
|   Item 5. Other Information                                                                                                   | 16               |
|   Item 6. Exhibits                                                                                                            | 16               |
|                                                                                                                                    |             |
| Signatures                                                                                                                              | 17               |
|                                                                                                                                    |             |

----

|                                                                |   | February 28, |     |   | August 31, |   |
|---------------------------------------------------------------------|--------|--------------|----------|--------|------------|--------|
|                                                                |   | 2011         |     |   | 2010       |   |
| Assets                                                              |   | (unaudited)  |     |   |       |   |
|                                                                |   |         |     |   |       |   |
| Current Assets:                                                     |   |         |     |   |       |   |
| Cash.                                                               |   | $            | 6,270    |   |       | $      | 1,545 |   |
| Prepaid asset.                                                      |   |         | 158      |   |       |   | 172 |   |
|                                                                |   |         |     |   |       |   |   |   |
| Total current assets                                                |   |         | 6,428    |   |       |   | 1,717 |   |
|                                                                |   |         |     |   |       |   |   |   |
| Property and equipment, net                                         |   |         | 22,013   |   |       |   | 25,374 |   |
|                                                                |   |         |     |   |       |   |   |   |
| Total assets                                                        |   | $            | 28,441   |   |       | $      | 27,091 |   |
|                                                                |   |         |     |   |       |   |   |   |
|                                                                |   |         |     |   |       |   |   |   |
| Liabilities and Shareholders’ Equity (Deficit)                |   |         |     |   |       |
| Current liabilities:                                                |   |         |     |   |       |   |   |   |
| Accounts payable                                                    |   | $            | —  |   |       | $      | 477 |   |
| Accrued interest payable, related party                             |   |         | 6,309    |   |       |   | 4,623 |   |
| Loans payable to related party                                      |   |         | 46,275   |   |       |   | 77,599 |   |
|                                                                |   |         |     |   |       |   |   |   |
| Total current liabilities                                           |   |         | 52,584   |   |       |   | 82,699 |   |
|                                                                |   |         |     |   |       |   |   |   |
| Shareholders’ equity (deficit):                               |   |         |     |   |       |   |   |   |
| Preferred stock, no par value; 5,000,000 shares authorized,         |   |         |     |   |       |   |   |   |
| no shares issued and outstanding, respectively                      |   |         | —  |   |       |   | — |   |
| Common stock, no par value; 300,000,000 shares authorized,          |   |         |     |   |       |   |   |   |
| 4,211,324 and 3,469,500 shares issued and outstanding, respectively |   |         | 310,315  |   |       |   | 235,250 |   |
| Additional paid-in capital                                          |   |         | 25,001   |   |       |   | 23,051 |   |
| Accumulated other comprehensive gain (loss)                         |   |         | —  |   |       |   | 1,000 |   |
| Accumulated deficit                                                 |   |         | (500     | )      |       |   | (500 | ) |
| Deficit accumulated during development stage                        |   |         | (358,959 | )      |       |   | (314,409 | ) |
| Total shareholders' equity (deficit)                                |   |         | (24,143  | )      |       |   | (55,608 | ) |
|                                                                |   |         |     |   |       |   |   |   |
| Total liabilities and shareholders' equity (deficit)                |   | $            | 28,441   |   |       | $      | 27,091 |   |

----

|                                         |   | For the Three Months Ended |      |   | For the Six Months Ended |   |      | March 1,2005(Inception)Through |   |
|----------------------------------------------|--------|----------------------------|-----------|--------|--------------------------|--------|-----------|--------------------------------|--------|
|                                         |   | February 28,               |      |   | February 28,             |   |      | February 28,                   |   |
|                                         |   | 2011                       |      |   | 2010                     |   |      | 2011                           |   |   | 2010 |   |   | 2011 |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |
| Revenue                                      |   | $                          | —   |   |                     | $      | —   |                           |   | $ | — |   |   | $ | — |   |   | $ | 1,750 |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses:                          |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Professional fees                            |   |                       | 7,050     |   |                     |   | 3,764     |                           |   |   | 14,601 |   |   |   | 14,674 |   |   |   | 102,432 |   |
| Contributed services, related party (Note 3) |   |                       | 1,050     |   |                     |   | 500       |                           |   |   | 1,950 |   |   |   | 1,410 |   |   |   | 20,511 |   |
| General and administrative                   |   |                       | 18,213    |   |                     |   | 7,069     |                           |   |   | 26,313 |   |   |   | 13,724 |   |   |   | 222,564 |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Total operating expenses                     |   |                       | 26,313    |   |                     |   | 11,333    |                           |   |   | 42,864 |   |   |   | 29,808 |   |   |   | 345,507 |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss from operations                         |   |                       | (26,313   | )      |                     |   | (11,333   | )                              |   |   | (42,864 | ) |   |   | (29,808 | ) |   |   | (343,757 | ) |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Income (Expense)                       |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
|    Other income                    |   |                       | —   |   |                     |   | 32        |                           |   |   | — |   |   |   | 274 |   |   |   | 274 |   |
|    Interest expense                |   |                       | (522      | )      |                     |   | (931      | )                              |   |   | (1,686 | ) |   |   | (1,764 | ) |   |   | (15,476 | ) |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Total other expenses                         |   |                       | (522      | )      |                     |   | (899      | )                              |   |   | (1,686 | ) |   |   | (1,490 | ) |   |   | (15,202 | ) |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                     |   |                       | (26,835   | )      |                     |   | (12,232   | )                              |   |   | (44,550 | ) |   |   | (31,298 | ) |   |   | (358,959 | ) |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Other Comprehensive Income (Loss)            |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain (loss) on foreign currency exchange     |   |                       | —   |   |                     |   | (198      | )                              |   |   | — |   |   |   | (39 | ) |   |   | — |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Comprehensive Loss                     |   | $                          | (26,835   | )      |                     | $      | (12,430   | )                              |   | $ | (44,550 | ) |   | $ | (31,337 | ) |   | $ | (358,959 | ) |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted loss per share             |   | $                          | (0.01     | )      |                     | $      | (0.00     | )                              |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   |   |   |   |
|                                         |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted weighted average           |   |                       |      |   |                     |   |      |                           |   |   |   |   |   |   |   |   |   |   |   |   |
| common shares outstanding                    |   |                       | 4,098,730 |   |                     |   | 3,472,278 |                           |   |   | 3,832,047 |   |   |   | 3,470,889 |   |   |   |   |   |

----

|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    | Deficit     |   |
|-------------------------------------------------|--------|--------------|-----------|--------|---------|---------|---------|---------------|--------|---------|-------------|--------|--------|--------------|---------|--------|-------------|---------|---------|-------------|--------|
|                                            |   |         |      |   |    |    |    |          |   |    | Accumulated |   |   |         |    |   |        |    |    | Accumulated |   |
|                                            |   |         |      |   |    |    |    | Additional    |   |    | Other       |   |   | Common       |    |   |        |    |    | During      |   |
|                                            |   | Common Stock |      |   | Paid-in |    |    | Comprehensive |   |    | Stock       |   |   | Accumulated  |    |   | Development |    |
|                                            |   | Shares       |      |   | Amount  |    |    | Capital       |   |    | Loss        |   |   | Subscription |    |   | 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 |   |         | 239,000   |   |    |    | 59,750  |          |   |    | —     |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   |   |   |
|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Contributed capital                             |   |         | —   |   |    |    | — |          |   |    | 669         |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Office space contributed by an officer          |   |         | —   |   |    |    | — |          |   |    | 1,200       |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Services contributed by an officer              |   |         | —   |   |    |    | — |          |   |    | 2,674       |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Foreign currency exchange gain                  |   |         | —   |   |    |    | — |          |   |    | —     |   |   |         | 32      |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Net loss, year ended August 31, 2008            |   |         | —   |   |    |    | — |          |   |    | —     |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | (57,173 | ) |
|                                            |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Balance at August 31, 2008                      |   |         | 3,389,000 |   |    | $  | 205,250 |          |   | $  | 16,004      |   |   | $       | 449     |   |        | $  | — |        |   | $  | (500 | ) |   | $  | (195,245 | ) |

----

|   |   |         |   |   |    |   |   |          |   |   | Accumulated |   |   |         |   |   |        |   |   | Accumulated |   |
|--------|--------|--------------|--------|--------|---------|--------|--------|---------------|--------|--------|-------------|--------|--------|--------------|--------|--------|-------------|--------|--------|-------------|--------|
|   |   |         |   |   |    |   |   | Additional    |   |   | Other       |   |   | Common       |   |   |        |   |   | During      |   |
|   |   | Common Stock |   |   | Paid-in |   |   | Comprehensive |   |   | Stock       |   |   | Accumulated  |   |   | Development |   |
|   |   | Shares       |   |   | Amount  |   |   | Capital       |   |   | Loss        |   |   | Subscription |   |   | Deficit     |   |   | Stage       |   |

| Balance at August 31, 2008                     |   |   |  3,389,000 |   |   | $  |  202,250 |   |   | $  |  16,004 |   |   | $  |  449 |   |   | $  |  — |   |   | $  |  (500 | )  |   | $  |  (195,245 | )  |
|------------------------------------------------|--------|--------|-----------------|--------|--------|---------|---------------|--------|--------|---------|--------------|--------|--------|---------|-----------|--------|--------|---------|---------------|--------|--------|---------|------------|---------|--------|---------|----------------|---------|
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Contributed capital                            |   |   | —         |   |   |    | —       |   |   |    | 1,757        |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Office space contributed by                    |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
|    an officer                   |   |   | —         |   |   |    | —       |   |   |    | 1,200        |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Services contributed by an officer             |   |   | —         |   |   |    | —       |   |   |    | 1,510        |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Foreign currency exchange loss                 |   |   | —         |   |   |    | —       |   |   |    | —      |   |   |    | (1,214    | )      |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Common stock issued for cash                   |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| at $0.20 per share                             |   |   | 80,500          |   |   |    | 16,100        |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Net loss, year ended August 31, 2009           |   |   | —         |   |   |    | —       |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    |       |    |   |    | (58,894        | )       |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Balance at August 31, 2009                     |   |   | 3,469,500       |   |   |    | 221,350       |   |   |    | 20,471       |   |   |    | (765      | )      |   |    | —       |   |   |    | (500       | )       |   |    | (254,139       | )       |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Office space contributed by                    |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
|    an officer                   |   |   | —         |   |   |    | —       |   |   |    | 1,200        |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Services contributed by an officer             |   |   | —         |   |   |    | —       |   |   |    | 1,380        |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Common stock issued for cash                   |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| at $0.20 per share                             |   |   | 44,500          |   |   |    | 8,900         |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Common stock issued for cash                   |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| at $0.15 per share                             |   |   | 33,334          |   |   |    | 5,000         |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Foreign currency exchange gain                 |   |   | —         |   |   |    | —       |   |   |    | —      |   |   |    | 765       |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Common stock subscribed                        |   |   | —         |   |   |    | —       |   |   |    | —      |   |   |    | —   |   |   |    | 1,000         |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Net loss, year ended August 31, 2010           |   |   | —         |   |   |    | —       |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    |       |    |   |    | (60,270        | )       |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Balance at August 31, 2010                     |   |   | 3,547,334       |   |   | $       | 235,250       |   |   | $       | 23,051       |   |   | $       | —   |   |   | $       | 1,000         |   |   | $       | (500       | )       |   | $       | (314,409       | )       |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Office space contributed by                    |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
|    an officer (unaudited)       |   |   | —         |   |   |    | —       |   |   |    | 600          |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Services contributed by an officer (unaudited) |   |   | —         |   |   |    | —       |   |   |    | 1,350        |   |   |    | —   |   |   |    | —       |   |   |    |       |    |   |    |           |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Common stock issued for cash                   |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| at $0.15 per share (unaudited)                 |   |   | 166,669         |   |   |    | 25,000        |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Common stock subscribed (unaudited)            |   |   | 6,667           |   |   |    | 1,000         |   |   |    | —      |   |   |    | —   |   |   |    | (1,000        | )      |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Conversion of related party note into common   |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |
| stock at $0.10 per share (unaudited)           |   |   | 490,654         |   |   |    | 49,065        |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    | —    |    |   |    | —        |    |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Net loss, period ended February 28, 2011       |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| (unaudited)                                    |   |   | —         |   |   |    | —       |   |   |    | —      |   |   |    | —   |   |   |    | —       |   |   |    |       |    |   |    | (44,550        | )       |
|                                           |   |   |            |   |   |    |          |   |   |    |         |   |   |    |      |   |   |    |          |   |   |    |       |    |   |    |           |    |
| Balance at February 28, 2011                   |   |   | 4,211,324       |   |   | $       | 310,315       |   |   | $       | 25,001       |   |   | $       | —   |   |   | $       | —       |   |   | $       | (500       | )       |   | $       | (358,959       | )       |

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|                                                |   | For the Six Months Ended |    |   | March 1,2005(Inception)Through |   |
|-----------------------------------------------------|--------|--------------------------|---------|--------|--------------------------------|--------|
|                                                |   | February 28,             |    |   | February 28,                   |   |
|                                                |   | 2011                     |    |   | 2010                           |   |   | 2011 |   |
| Cash flows from operating activities:               |   |                     |    |   |                           |   |   |   |   |
| Net loss                                            |   | $                        | (44,550 | )      |                           | $      | (31,298 | ) |   | $ | (358,959 | ) |
| Adjustments to reconcile net loss to net cash       |   |                     |    |   |                           |   |   |   |   |   |   |   |
| used by operating activities:                       |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Depreciation expense                                |   |                     | 3,361   |   |                           |   | 4,168 |   |   |   | 43,858 |   |
| Contributed capital to fund expenses                |   |                     | 1,950   |   |                           |   | 1,410 |   |   |   | 24,901 |   |
| Common stock issued for services                    |   |                     | — |   |                           |   | — |   |   |   | 56,000 |   |
| Changes in operating assets and liabilities:        |   |                     |    |   |                           |   |   |   |   |   |   |   |
| (Increase) decrease in prepaid services             |   |                     | 14      |   |                           |   | 85 |   |   |   | (158 | ) |
| Increase in accounts payable                   |   |                     |    |   |                           |   |   |   |   |   |   |   |
| and accrued liabilities                             |   |                     | 1,209   |   |                           |   | 4,627 |   |   |   | 13,223 |   |
| Net cash used in                                    |   |                     |    |   |                           |   |   |   |   |   |   |   |
| operating activities                                |   |                     | (38,016 | )      |                           |   | (21,008 | ) |   |   | (221,135 | ) |
|                                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Cash flows from investing activities:               |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Cash paid for fixed assets                          |   |                     | — |   |                           |   | (1,600 | ) |   |   | (26,870 | ) |
| Net cash used in                                    |   |                     |    |   |                           |   |   |   |   |   |   |   |
| investing activities                                |   |                     | — |   |                           |   | (1,600 | ) |   |   | (26,870 | ) |
|                                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Cash flows from financing activities:               |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Common stock issued for cash                        |   |                     | 24,999  |   |                           |   | 2,000 |   |   |   | 165,749 |   |
| Proceeds from related party loans                   |   |                     | 17,742  |   |                           |   | 7,447 |   |   |   | 88,426 |   |
| Net cash provided by                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| financing activities                                |   |                     | 42,741  |   |                           |   | 9,447 |   |   |   | 254,175 |   |
|                                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Net change in cash                                  |   |                     | 4,725   |   |                           |   | (13,161 | ) |   |   | 6,170 |   |
|                                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Cash, beginning of period                           |   |                     | 1,545   |   |                           |   | 13,612 |   |   |   | 100 |   |
|                                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| Cash, end of period                                 |   | $                        | 6,270   |   |                           | $      | 451 |   |   | $ | 6,270 |   |
|                                                |   |                     |    |   |                           |   |   |   |   |   |   |   |
| 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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| 1.   | General and administrative expenses increased by $11,144, or 158%, for the quarter ended February 28, 2011. We attribute this to an increase in boat repair and maintenance costs. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Professional fees increased by $3,286 or 87% for the quarter ended February 28, 2011. We attribute this to increased legal and accounting expenses incurred in connection with the amendment of our articles of incorporation and the filing of our federal tax returns |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (a)  Exhibits:                                                                                                               |   |
|--------|-----------------------------------------------------------------------------------------------------------------------------------|--------|
|   |                                                                                                                              |   |
|   | 31.1:           Certification of Principal Executive and Financial Officer |   |
|   | 32.1:           Section 1350 Certification                                 |   |
|   |                                                                                                                              |
|   |                                                                                                                              |   |
|   | (b)   Reports on Form 8-K:                                                                                              |   |
|   |                                                                                                                              |   |
|   | None.                                                                                                                             |   |

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|                                                                                                                                                                                                                                                                                                               |               | ROSEWIND CORPORATION |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|----------------------|
|                                                                                                                                                                                                                                                                                                               |               | (Registrant)         |
|                                                                                                                                                                                                                                                                                                               |               |                 |
|                                                                                                                                                                                                                                                                                                               |               |                 |
| DATE:    April 14, 2011                                            | BY:                | /s/ James B. Wiegand |
|                                                                                                                                                                                                                                                                                                               |               | James B. Wiegand     |
|                                                                                                                                                                                                                                                                                                               |     | President            |

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