----

----

----

----

|   | (Mark One) |
|--------|------------|
|                                                                                            |
|-------------------------------------------------------------------------------------------------|
| x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  |
|                                                                                            |
| For the quarterly period ended January 31, 2011                                                 |
| or                                                                                              |
|                                                                                            |
| o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

| LIGHTLAKE THERAPEUTICS INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  (Exact name of registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |
| Nevada                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | N/A |
|  (State or other jurisdiction of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  (IRS Employer Identification No.) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|  54 Baker Street, 6th Floor, London, England                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | W1U 7BU |
|  (Address of principal executive offices)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Zip Code) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 44-207-034-1943                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|  (Registrant’s telephone number, including area code)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                         |
|  (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

| Large accelerated filer | o      |                                          | Accelerated filer         | o      |
|-------------------------|--------|-----------------------------------------------|---------------------------|--------|
|                    |   |                                          |                      |   |
| Non-accelerated filer   | o      | (Do not check if a smaller reporting company) | Smaller reporting company | x      |

----

TABLE OF 

| PART I. FINANCIAL INFORMATION | Page                                                                                                                                                                    |
|-------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                          |                                                                                                                                                                    |   |
| Item 1.                       | Financial Statements                                                                                                                                               | 1 |
|                          | Balance Sheet as of January 31, 2011 and July 31, 2010                                                                                                                  | 2 |
|                          | Statements of Operations for the three and six months ended January 31, 2011 and 2010 and the period from inception (June 21, 2005) to January 31, 2011  | 3 |
|                          | Statement of Stockholders Equity (Deficit) for the period from inception (June21, 2005) to January 31, 2011                                                   | 4 |
|                          | Statement of Cash Flows for the six months ended January 31, 2011 and 2010 and the period from inception (June 21, 2005) to January 31, 2011        | 5 |
|                          | Notes to Financial Statements                                                                                                                                      |   |
|                          |                                                                                                                                                                    |   |
| Item 2.                  | Management's Discussion and Analysis of Financial Condition and Results of Operations                                                                              | 11 |
| Item 3.                  | Quantitative and Qualitative Disclosures About Market Risk                                                                                                    | 14 |
| Item 4.                  | Controls and Procedures                                                                                                                                            | 14 |
|                          |                                                                                                                                                                    |   |
| PART II. OTHER INFORMATION    |                                                                                                                                                                    |
|                          |                                                                                                                                                                    |   |
| Item 1.                       | Legal Proceedings                                                                                                                                                  | 15 |
| 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                                                                                                           | 15 |
| Item 5.                  | Other Information                                                                                                                                                  | 15 |
| Item 6.                  | Exhibits                                                                                                                                                           | 15 |
|                          |                                                                                                                                                                    |   |
| Signatures               |                                                                                                                                                                    | 16 |

----

Item 1. Financial 

Lightlake 

|                                                                  |   |        |       |   |     |   |
|-----------------------------------------------------------------------|--------|-------------|------------|--------|----------|--------|
|                                                                  |   | January 31, |       |   | July 31, |   |
| Assets                                                                |   | 2011        |       |   | 2010     |   |
| Current assets                                                        |   |        |       |   |     |   |
| Cash and cash equivalents                                             |   | $           | 1,118      |   |     | $      | 2,300 |   |
| Other current assets                                                  |   |        | -          |   |     |   | - |   |
| Total current assets                                                  |   |        | 1,118      |   |     |   | 2,300 |   |
|                                                                  |   |        |       |   |     |   |   |   |
| Other assets                                                          |   |        |       |   |     |   |   |   |
| Patents and patent applications (net of accumulated amortizaton)      |   |        | 26,434     |   |     |   | 19,825 |   |
|                                                                  |   |        |       |   |     |   |   |   |
| Total assets                                                          |   | $           | 27,552     |   |     | $      | 22,125 |   |
|                                                                  |   |        |       |   |     |   |   |   |
| Liabilities and Shareholders' Deficit                                 |   |        |       |   |     |   |   |   |
| Liabilities                                                           |   |        |       |   |     |   |   |   |
| Accounts payable and accrued liabilities                              |   | $           | 233,908    |   |     | $      | 203,908 |   |
| Accrued salaries and wages                                            |   |        | 109,917    |   |     | $      | 74,917 |   |
| Due to related party                                                  |   |        | 309,087    |   |     |   | 380,587 |   |
| Total liabilities                                                     |   |        | 652,912    |   |     |   | 659,412 |   |
|                                                                  |   |        |       |   |     |   |   |   |
|                                                                  |   |        |       |   |     |   |   |   |
| Stockholders' equity (deficit)                                        |   |        |       |   |     |   |   |   |
| Common stock; par value $0.001; 200,000,000 shares authorized;        |   |        |       |   |     |   |   |   |
| 65,398,333 shares issued and outstanding at January 31, 2011 and      |   |        |       |   |     |   |   |   |
|   61,508,333 shares issued and outstanding at July 31, 2010 |   |        | 65,398     |   |     |   | 61,508 |   |
| Additional paid-in capital                                            |   |        | 2,657,602  |   |     |   | 1,373,125 |   |
| Accumulated deficit during the development stage                      |   |        | (3,348,360 | )      |     |   | (2,071,920 | ) |
| Total stockholders' equity (deficit)                                  |   |        | (625,360   | )      |     |   | (637,287 | ) |
| Total liabilities and stockholders' equity                            |   | $           | 27,552     |   |     | $      | 22,125 |   |

----

Lightlake 

|                                            |   | For the            |       |   | For the          |   |        | From Inception  |   |
|-------------------------------------------------|--------|--------------------|------------|--------|------------------|--------|-------------|-----------------|--------|
|                                            |   | Three Months Ended |       |   | Six Months Ended |   |        | (June 21, 2005) |   |
|                                            |   | January 31,        |       |   | January 31,      |   |        | to January 31,  |   |
|                                            |   | 2011               |       |   | 2010             |   |        | 2011            |   |   | 2010 |   |   | 2011 |   |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |
| Revenues                                        |   | $                  | -          |   |             | $      | -           |            |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses                              |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| General and administrative                      |   |               | 994,686    |   |             |   | 1,238,773   |            |   |   | 1,276,440 |   |   |   | 1,314,987 |   |   |   | 3,352,508 |   |
| Mineral interests                               |   |               | -          |   |             |   | -           |            |   |   | - |   |   |   | - |   |   |   | 39,015 |   |
| Total operating expenses                        |   |               | 994,686    |   |             |   | 1,238,773   |            |   |   | 1,276,440 |   |   |   | 1,314,987 |   |   |   | 3,391,523 |   |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) from operations                   |   |               | (994,686   | )      |             |   | (1,238,773  | )               |   |   | (1,276,440 | ) |   |   | (1,314,987 | ) |   |   | (3,391,523 | ) |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense)                          |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Debt forgiveness                                |   |               | -          |   |             |   | -           |            |   |   | - |   |   |   | - |   |   |   | 43,163 |   |
| Total other income (expense)                    |   |               | -          |   |             |   | -           |            |   |   | - |   |   |   | - |   |   |   | 43,163 |   |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) before provision for income taxes |   |               | (994,686   | )      |             |   | (1,238,773  | )               |   |   | (1,276,440 | ) |   |   | (1,314,987 | ) |   |   | (3,348,360 | ) |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Provision for income taxes                      |   |               | -          |   |             |   | -           |            |   |   | - |   |   |   | - |   |   |   | - |   |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                               |   | $                  | (994,686   | )      |             | $      | (1,238,773  | )               |   | $ | (1,276,440 | ) |   | $ | (1,314,987 | ) |   | $ | (3,348,360 | ) |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic loss per common share:                    |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings (loss) per common share                |   | $                  | (0.02      | )      |             | $      | (0.01       | )               |   | $ | (0.02 | ) |   | $ | (0.01 | ) |   |   |   |   |
| Basic weighted average                          |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| common shares outstanding                       |   |               | 62,747,626 |   |             |   | 113,916,483 |            |   |   | 62,747,626 |   |   |   | 113,916,483 |   |   |   |   |   |
|                                            |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Fully diluted per common share:                 |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings (loss) per common share                |   | $                  | (0.01      | )      |             | $      | (0.01       | )               |   | $ | (0.02 | ) |   | $ | (0.01 | ) |   |   |   |   |
| Fully diluted weighted average                  |   |               |       |   |             |   |        |            |   |   |   |   |   |   |   |   |   |   |   |   |
| common shares outstanding                       |   |               | 67,840,833 |   |             |   | 113,916,483 |            |   |   | 67,840,833 |   |   |   | 113,916,483 |   |   |   |   |   |

----

Lightlake 

|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   | Deficit     |   |   |   |   |
|---------------------------------------------------------|--------|--------------|--------------|--------|--------|--------|----------|------------|--------|--------|-----------|--------|--------|-------------|--------|--------|--------|--------|
|                                                    |   |         |         |   |   |   |     | Additional |   |   |      |   |   | During the  |   |   |   |   |
|                                                    |   | Common Stock |         |   |   |   |     | Paid In    |   |   | Treasury  |   |   | Development |   |   |   |   |
|                                                    |   | Shares       |         |   | Amount |   |     | Capital    |   |   | Stock     |   |   | Stage       |   |   | Total  |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |
| Balance at June 21, 2005                                |   |         | -            |   |   | $      | -        |       |   | $      | -         |   |   | $           | -      |   |   | $      | - |   |   | $ | - |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2005                                |   |         | -            |   |   |   | -        |       |   |   | -         |   |   |        | -      |   |   |   | - |   |   |   | - |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Common shares issued for cash                           |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
|   March 2006 at $0.001 per share              |   |         | 5,000,000    |   |   |   | 5,000    |       |   |   | -         |   |   |        |   |   |   |   |   |   |   |   | 5,000 |   |
|   March 2006 at $0.01 per share               |   |         | 1,300,000    |   |   |   | 1,300    |       |   |   | 11,700    |   |   |        |   |   |   |   |   |   |   |   | 13,000 |   |
|   April 2006 at $0.01 per share               |   |         | 75,000       |   |   |   | 75       |       |   |   | 7,425     |   |   |        |   |   |   |   |   |   |   |   | 7,500 |   |
|   May 2006 at $0.01 per share                 |   |         | 150,000      |   |   |   | 150      |       |   |   | 29,850    |   |   |        |   |   |   |   |   |   |   |   | 30,000 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                       |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   | (32,125 | ) |   |   | (32,125 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2006                                |   |         | 6,525,000    |   |   |   | 6,525    |       |   |   | 48,975    |   |   |        | -      |   |   |   | (32,125 | ) |   |   | 23,375 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                       |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   | (33,605 | ) |   |   | (33,605 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2007                                |   |         | 6,525,000    |   |   |   | 6,525    |       |   |   | 48,975    |   |   |        | -      |   |   |   | (65,730 | ) |   |   | (10,230 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                       |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   | (17,924 | ) |   |   | (17,924 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2008                                |   |         | 6,525,000    |   |   |   | 6,525    |       |   |   | 48,975    |   |   |        | -      |   |   |   | (83,654 | ) |   |   | (28,154 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                       |   |         | -            |   |   |   | -        |       |   |   | -         |   |   |        | -      |   |   |   | 28,444 |   |   |   | 28,444 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2009                                |   |         | 6,525,000    |   |   | $      | 6,525    |       |   | $      | 48,975    |   |   | $           | -      |   |   | $      | (55,210 | ) |   | $ | 290 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Forward Stock Split : 20 for 1                          |   |         | 130,500,000  |   |   | $      | 130,500  |       |   | $      | (130,500  | )      |   |        |   |   |   |   |   |   |   |   | - |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Stock issued for acquisition of patent                  |   |         | 20,333,333   |   |   |   | 20,333   |       |   |   | -         |   |   |        | -      |   |   |   |   |   |   |   | 20,333 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Cancellation of shares                                  |   |         | (100,000,000 | )      |   |   | (100,000 | )          |   |   | 100,000   |   |   |        | -      |   |   |   |   |   |   |   | - |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Stock issued for services                               |   |         | 4,150,000    |   |   |   | 4,150    |       |   |   | 1,354,650 |   |   |        |   |   |   |   |   |   |   |   | 1,358,800 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                       |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   | (2,016,710 | ) |   |   | (2,016,710 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at July 31, 2010                                |   |         | 61,508,333   |   |   | $      | 61,508   |       |   | $      | 1,373,125 |   |   | $           | -      |   |   | $      | (2,071,920 | ) |   | $ | (637,287 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Warrants issued for acquisition of patent               |   |         |         |   |   |   |     |       |   |   | 7,117     |   |   |        |   |   |   |   |   |   |   |   | 7,117 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Sales of common stock                                   |   |         | 1,900,000    |   |   |   | 1,900    |       |   |   | 590,100   |   |   |        |   |   |   |   |   |   |   |   | 592,000 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Stock issued for services                               |   |         | 1,990,000    |   |   |   | 1,990    |       |   |   | 581,010   |   |   |        |   |   |   |   |   |   |   |   | 583,000 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Stock based compensation from issuance of stock options |   |         |         |   |   |   |     |       |   |   | 106,250   |   |   |        |   |   |   |   |   |   |   |   | 106,250 |   |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Net income (loss)                                       |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   | (1,276,440 | ) |   |   | (1,276,440 | ) |
|                                                    |   |         |         |   |   |   |     |       |   |   |      |   |   |        |   |   |   |   |   |   |   |   |   |   |
| Balance at January 31, 2011                             |   |         | 65,398,333   |   |   | $      | 65,398   |       |   | $      | 2,657,602 |   |   | $           | -      |   |   | $      | (3,348,360 | ) |   | $ | (625,360 | ) |

----

Lightlake 

|                                                                                                                                     |   |   |       |   | For the          |   |       | From Inception  |   |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|------------------|--------|------------|-----------------|--------|
|                                                                                                                                     |   |   |       |   | Six Months Ended |   |       | (June 21, 2005) |   |
|                                                                                                                                     |   |   |       |   | January 31,      |   |       | to January 31,  |   |
|                                                                                                                                     |   | 2011   |       |   | 2010             |   |       | 2011            |   |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |
| Cash Flows Provided (Used) By Operating Activities                                                                                       |   |   |       |   |             |   |       |            |   |
| Net income (loss)                                                                                                                        |   | $      | (1,276,440 | )      |             | $      | (1,314,987 | )               |   | $ | (3,348,360 | ) |
| Adjustments to reconcile net income (loss) to net cash                                                                                   |   |   |       |   |             |   |       |            |   |   |   |   |
| provided from (used by) operating activities:                                                                                            |   |   |       |   |             |   |       |            |   |   |   |   |
| Amortization                                                                                                                             |   |   | 508        |   |             |   | -          |            |   |   | 1,016 |   |
| Issuance of common stock for services                                                                                                    |   |   | 583,000    |   |             |   | 1,058,500  |            |   |   | 1,941,800 |   |
| Stock based compensation from issuance of stock options                                                                                  |   |   | 106,250    |   |             |   | -          |            |   |   | 106,250 |   |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| Increase (decrease) in accounts payable                                                                                                  |   |   | 30,000     |   |             |   | 46,619     |            |   |   | 233,908 |   |
| Increase in accrued salaries and wages                                                                                                   |   |   | 35,000     |   |             |   | 46,167     |            |   |   | 109,917 |   |
| Net cash provided from (used by) operating activities                                                                                    |   |   | (521,682   | )      |             |   | (163,701   | )               |   |   | (955,469 | ) |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| Cash Flows Provided (Used) By Investing Activities                                                                                       |   |   | -          |   |             |   | -          |            |   |   | - |   |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| Cash Flows Provided (Used) By Financing Activities                                                                                       |   |   |       |   |             |   |       |            |   |   |   |   |
| Borrowings from related party                                                                                                            |   |   | 192,000    |   |             |   | 165,369    |            |   |   | 572,587 |   |
| Payments to related party for note payable                                                                                               |   |   | (263,500   | )      |             |   | -          |            |   |   | (263,500 | ) |
| Issuance of common stock for cash                                                                                                        |   |   | 592,000    |   |             |   | -          |            |   |   | 647,500 |   |
| Net cash provided from (used by) financing activities                                                                                    |   |   | 520,500    |   |             |   | 165,369    |            |   |   | 956,587 |   |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                                                                                     |   |   | (1,182     | )      |             |   | 1,968      |            |   |   | 1,118 |   |
| Cash and cash equivalents, beginning of period                                                                                           |   |   | 2,300      |   |             |   | 290        |            |   |   | - |   |
| Cash and cash equivalents, end of period                                                                                                 |   | $      | 1,118      |   |             | $      | 2,258      |            |   | $ | 1,118 |   |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| Supplemental disclosure                                                                                                                  |   |   |       |   |             |   |       |            |   |   |   |   |
| Interest paid during the period                                                                                                          |   | $      | -          |   |             | $      | -          |            |   | $ | - |   |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| Non-Cash Transactions                                                                                                                    |   |   |       |   |             |   |       |            |   |   |   |   |
| In August, 2009, the Company acquired a Patent and Patent Applications through the issuance of 20,333,000 Common shares.                 |   |
| In December, 2009, the Company cancelled 100,000,000 shares of common stock.                                                             |   |   |       |   |             |
|                                                                                                                                     |   |   |       |   |             |   |       |            |   |   |   |   |
| On November 29, 2010, The Company issued 7,116,667 warrants to purchase its' common stock at $0.25 per share                             |   |
| for a term of five years in exchange for the acquisition of a patent.                                                                    |   |   |       |   |             |   |       |            |   |
| On December 15, 2010, the Company issued incentive stock options on 7,500,000 shares at $0.60 and expire three years from date of grant. |   |
| On December 15, 2010, the Company issued 1,900,000 warrants to purchase its' common stock at $0.50. These warrants                  |   |
| expire in five years from the date of issuance.                                                                                          |   |   |       |   |             |   |       |            |   |   |   |   |
| On December 15, 2010, the Company issued incentive stock options on 1,000,000 shares at $1.20 and expire three years from date of grant. |   |

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Lightlake 

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|                                 |   | January 31, 2011 |     |   | July 31, 2010 |   |
|--------------------------------------|--------|------------------|----------|--------|---------------|--------|
|                                 |   |             |     |   |          |   |
| Income tax expense at statutory rate |   | $                | (492,939 | )      |          | $      | (786,517 | ) |
|                                 |   |             |     |   |          |   |   |   |
| Valuation allowance                  |   |             | 492,939  |   |          |   | 786,517 |   |
|                                 |   |             |     |   |          |   |   |   |
| Income tax expense per books         |   | $                | -        |   |          | $      | - |   |

|                         |   | January 31, 2011 |       |   | July 31, 2010 |   |
|------------------------------|--------|------------------|------------|--------|---------------|--------|
|                         |   |             |       |   |          |   |
| Net Operating Loss Carryover |   | $                | (1,300,985 | )      |          | $      | (808,049 | ) |
|                         |   |             |       |   |          |   |   |   |
| Valuation allowance          |   |             | 1,300,985  |   |          |   | 808,049 |   |
|                         |   |             |       |   |          |   |   |   |
| Net deferred tax asset       |   | $                | -          |   |          | $      | - |   |

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Item 2. Management’s 

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| Balance Sheet Data:           |   | 1/31/11 |     |    | 7/31/10 |   |
|-------------------------------|--------|---------|----------|---------|---------|--------|
|                          |   |    |     |    |    |   |
|  Csh           |   | $       | 1,118    |    |    | $      | 2,300 |   |
| Total assets        |   | $       | 27,552   |    |    | $      | 22,125 |   |
| Total Liabilities        |   | $       | 652,912  |    |    | $      | 659,412 |   |
| Shareholder's equity(deficit) |   | $       | (625,360 | )  |    | $      | (637,287 | ) |

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Item 3. Quantitative 

Item 4. Controls 

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ITEM 1. LEGAL 

ITEM 2. UNREGISTERED 

ITEM 3. DEFAULTS 

ITEM 4. SUBMISSION 

ITEM 5.

ITEM 6.

| Exhibit Number   | Description                              |
|------------------|------------------------------------------|
|             |                                     |
| 3.1         | Articles of Incorporation*               |
| 3.2         | Bylaws*                                  |
| 31.1   | Rule 13a-14(a)/14a-15(d) Certification   |
| 31.2   | Rule 13a-14(a)/14a-15(d) Certification   |
| 32.1        | Certification pursuant to 18 U.S.C. 1350 |
| 32.2        | Certification pursuant to 18 U.S.C. 1350 |

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SIGN

|                 | Lightlake Therapeutics Inc. |                                             |
|----------------------|-----------------------------|--------------------------------------------------|
|                 |                        |                                             |   |
| Date: March 17, 2011 | By:                         | /s/ Dr. Roger Crystal                       |   |
|                 |                        | Name  Dr. Roger Crystal                     |   |
|                 |                        | Title Chief Executive Officer and President |   |
|                 |                        |                                             |   |

|                 |   |                                            |   |
|----------------------|--------|-------------------------------------------------|--------|
| Date: March 17, 2011 | By:    | /s/ Seijin Ki                              |   |
|                 |   | Name Seijin Ki                             |   |
|                 |   | Title Chief Financial Officer and Director |   |
|                 |   |                                            |   |

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