| 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 November 30, 2010                                        |             |
|       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                             |   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               |
|                                                                                                       |             |

----

|                                                                |   | November 30,      |     |   | August 31, |   |
|---------------------------------------------------------------------|--------|-------------------|----------|--------|------------|--------|
|                                                                |   | 2010              |     |   | 2010       |   |
| Assets                                                              |   |  (unaudited) |     |   |       |   |
|                                                                |   |              |     |   |       |   |
| Current Assets:                                                     |   |              |     |   |       |   |
| Cash                                                                |   | $                 | 911      |   |       | $      | 1,545 |   |
| Prepaid asset                                                       |   |              | 172      |   |       |   | 172 |   |
|                                                                |   |              |     |   |       |   |   |   |
| Total current assets                                                |   |              | 1,083    |   |       |   | 1,717 |   |
|                                                                |   |              |     |   |       |   |   |   |
| Property and equipment, net                                         |   |              | 23,906   |   |       |   | 25,374 |   |
|                                                                |   |              |     |   |       |   |   |   |
| Total assets                                                        |   | $                 | 24,989   |   |       | $      | 27,091 |   |
|                                                                |   |              |     |   |       |   |   |   |
| Liabilities and Shareholders’ Equity (Deficit)                |   |              |     |   |       |   |   |   |
|                                                                |   |              |     |   |       |   |   |   |
| Current liabilities:                                                |   |              |     |   |       |   |   |   |
| Accounts payable                                                    |   | $                 | 2,777    |   |       | $      | 477 |   |
| Accrued interest payable, related party                             |   |              | 5,787    |   |       |   | 4,623 |   |
| Loans payable to related party                                      |   |              | 83,848   |   |       |   | 77,599 |   |
|                                                                |   |              |     |   |       |   |   |   |
| Total current liabilities                                           |   |              | 92,412   |   |       |   | 82,699 |   |
|                                                                |   |              |     |   |       |   |   |   |
| Shareholders’ equity (deficit):                               |   |              |     |   |       |   |   |   |
| Common stock, no par value; 50,000,000 shares authorized,           |   |              |     |   |       |   |   |   |
| 3,585,668 and 3,469,500 shares issued and outstanding, respectively |   |              | 241,250  |   |       |   | 235,250 |   |
| Additional paid-in capital                                          |   |              | 23,951   |   |       |   | 23,051 |   |
| Common stock subscription                                           |   |              | —  |   |       |   | 1,000 |   |
| Accumulated deficit                                                 |   |              | (500     | )      |       |   | (500 | ) |
| Deficit accumulated during development stage                        |   |              | (332,124 | )      |       |   | (314,409 | ) |
| Total shareholders' equity (deficit)                                |   |              | (67,423  | )      |       |   | (55,608 | ) |
|                                                                |   |              |     |   |       |   |   |   |
| Total liabilities and shareholders' equity (deficit)                |   | $                 | 24,989   |   |       | $      | 27,091 |   |

----

|                                         |   |                       |      |   |         |   |      | March 1,    |   |
|----------------------------------------------|--------|----------------------------|-----------|--------|--------------|--------|-----------|-------------|--------|
|                                         |   |                       |      |   |         |   |      | 2005        |   |
|                                         |   |                       |      |   |         |   |      | (Inception) |   |
|                                         |   | For the Three Months Ended |      |   | Through      |   |
|                                         |   | November 30,               |      |   | November 30, |   |
|                                         |   | 2010                       |      |   | 2009         |   |      | 2010        |   |
|                                         |   |                       |      |   |         |   |      |        |   |
| Revenue                                      |   | $                          | —   |   |         | $      | —   |        |   | $ | 1,750 |   |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Operating expenses:                          |   |                       |      |   |         |   |      |        |   |   |   |   |
| Professional fees                            |   |                       | 7,551     |   |         |   | 10,909    |        |   |   | 95,382 |   |
| Contributed services, related party (Note 2) |   |                       | 900       |   |         |   | 910       |        |   |   | 19,461 |   |
| General and administrative                   |   |                       | 8,100     |   |         |   | 6,656     |        |   |   | 204,351 |   |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Total operating expenses                     |   |                       | 16,551    |   |         |   | 18,475    |        |   |   | 319,194 |   |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Loss from operations                         |   |                       | (16,551   | )      |         |   | (18,475   | )           |   |   | (317,444 | ) |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Other Income (Expense)                       |   |                       |      |   |         |   |      |        |   |   |   |   |
|     Other income         |   |                       | —   |   |         |   | 242       |        |   |   | 274 |   |
|     Interest expense     |   |                       | (1,164    | )      |         |   | (833      | )           |   |   | (14,954 | ) |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Total other expenses                         |   |                       | (1,164    | )      |         |   | (591      | )           |   |   | (14,680 | ) |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Net loss                                     |   |                       | (17,715   | )      |         |   | (19,066   | )           |   |   | (332,124 | ) |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Other Comprehensive Income (Loss)            |   |                       |      |   |         |   |      |        |   |   |   |   |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Gain (loss) on foreign currency exchange     |   |                       | —   |   |         |   | 158       |        |   |   | — |   |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Total Comprehensive Loss                     |   | $                          | (17,715   | )      |         | $      | (18,908   | )           |   | $ | (332,124 | ) |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Basic and diluted loss per share             |   | $                          | (0.01     | )      |         | $      | (0.01     | )           |   |   |   |   |
|                                         |   |                       |      |   |         |   |      |        |   |   |   |   |
| Basic and diluted weighted average           |   |                       |      |   |         |   |      |        |   |   |   |   |
| common shares outstanding                    |   |                       | 3,489,885 |   |         |   | 3,469,500 |        |   |   |   |   |

----

|                                                        |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    | 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       |   |
|                                                             |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |
| 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)                         |   |         | —   |   |    |    | — |          |   |    | 300         |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                                             |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Services contributed by an officer (unaudited)                   |   |         | —   |   |    |    | — |          |   |    | 600         |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                                             |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Common stock issued for cash                                     |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| at $0.15 per share (unaudited)                                   |   |         | 33,334    |   |    |    | 5,000   |          |   |    | —     |   |   |         | — |   |        |    | — |        |   |   | — |   |   |   | — |   |
|                                                             |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Common stock subscribed (unaudited)                              |   |         | 5,000     |   |    |    | 1,000   |          |   |    | —     |   |   |         | — |   |        |    | (1,000  | )           |   |   | — |   |   |   | — |   |
|                                                             |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Net loss, quarter ended November 30, 2010  (unaudited) |   |         | —   |   |    |    | — |          |   |    | —     |   |   |         | — |   |        |    | — |        |   |   |   |   |   |   | (17,715 | ) |
|                                                             |   |         |      |   |    |    |    |          |   |    |        |   |   |         |    |   |        |    |    |        |   |   |   |   |   |   |   |   |
| Balance at November 30, 2010 (unaudited)                         |   |         | 3,585,668 |   |    | $       | 241,250 |          |   | $       | 23,951      |   |   | $            | — |   |        | $       | — |        |   | $ | (500 | ) |   | $ | (332,124 | ) |

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|                                                                                       |   |                       |       |   |         |   |       | March 1,    |   |
|--------------------------------------------------------------------------------------------|--------|----------------------------|------------|--------|--------------|--------|------------|-------------|--------|
|                                                                                       |   |                       |       |   |         |   |       | 2005        |   |
|                                                                                       |   |                       |       |   |         |   |       | (Inception) |   |
|                                                                                       |   | For the Three Months Ended |       |   | Through      |   |
|                                                                                       |   | November 30,               |       |   | November 30, |   |
|                                                                                       |   | 2010                       |       |   | 2009         |   |       | 2010        |   |
| Cash flows from operating activities:                                                      |   |                       |       |   |         |   |       |        |   |
| Net loss                                                                                   |   | $                          | (17,715    | )      |         | $      | (19,066    | )           |   | $ | (332,124 | ) |
| Adjustments to reconcile net loss to net cash                                              |   |                       |       |   |         |   |       |        |   |   |   |   |
| used by operating activities:                                                              |   |                       |       |   |         |   |       |        |   |   |   |   |
| Depreciation expense                                                                       |   |                       | 1,468      |   |         |   | 2,071      |        |   |   | 41,965 |   |
| Contributed capital for operating expenses                                       |   |                       | 900        |   |         |   | 910        |        |   |   | 23,851 |   |
| Common stock issued for services                                                           |   |                       | —    |   |         |   | —    |        |   |   | 56,000 |   |
| Changes in operating assets and liabilities:                                               |   |                       |       |   |         |   |       |        |   |   |   |   |
| (Increase) decrease in prepaid services                                                    |   |                       | —    |   |         |   | —    |        |   |   | (172 | ) |
| Increase (decrease) in accounts payable                                                    |   |                       |       |   |         |   |       |        |   |   |   |   |
| and accrued liabilities                                                                    |   |                       | 3,464      |   |         |   | 4,991      |        |   |   | 15,478 |   |
|  Net cash used in                                                                     |   |                       |       |   |         |   |       |        |   |   |   |   |
| operating activities                                                                       |   |                       | (11,883    | )      |         |   | (11,094    | )           |   |   | (195,002 | ) |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| Cash flows from investing activities:                                                      |   |                       |       |   |         |   |       |        |   |   |   |   |
| Cash paid for fixed assets                                                                 |   |                       | —    |   |         |   | —    |        |   |   | (26,870 | ) |
| Net cash used in                                                                           |   |                       |       |   |         |   |       |        |   |   |   |   |
| investing activities                                                                       |   |                       | —    |   |         |   | —    |        |   |   | (26,870 | ) |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| Cash flows from financing activities:                                                      |   |                       |       |   |         |   |       |        |   |   |   |   |
| Common stock issued for cash                                                               |   |                       | 5,000      |   |         |   | —    |        |   |   | 145,750 |   |
| Proceeds from related party loans                                                          |   |                       | 6,249      |   |         |   | 927        |        |   |   | 76,933 |   |
| Net cash provided by                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| financing activities                                                                       |   |                       | 11,249     |   |         |   | 927        |        |   |   | 222,683 |   |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| Net change in cash                                                                         |   |                       | (634       | )      |         |   | (10,167    | )           |   |   | 811 |   |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| Cash, beginning of period                                                                  |   |                       | 1,545      |   |         |   | 13,612     |        |   |   | 100 |   |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| Cash, end of period                                                                        |   | $                          | 911        |   |         | $      | 3,445      |        |   | $ | 911 |   |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| Supplemental disclosure of cash flow information:                                          |   |                       |       |   |         |   |       |        |   |   |   |   |
| Cash paid during the period for:                                                           |   |                       |       |   |         |   |       |        |   |   |   |   |
|              Income taxes |   | $                          | —    |   |         | $      | —    |        |   | $ | — |   |
|              Interest     |   | $                          | —    |   |         | $      | —    |        |   | $ | 2,251 |   |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
|                                                                                       |   |                       |       |   |         |   |       |        |   |   |   |   |
| NON CASH INVESTING AND FINANCING ACTIVITIES:                                               |   |                       | NONE  |   |         |   | NONE  |        |   |   | NONE  |   |

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| 1.     | Professional expense decreased by $3,358, or 31% for the three month period ended November 30, 2010. We attribute this to a decrease in accounting fees paid.                               |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                        |
| 2.     | General and administrative expenses increased by $1,444, or 21%, for the three month period ended November 30, 2010. We attribute this to an increase in boat repair and maintenance costs. |
|   |                                                                                                                                                                                        |
| 3.     | Interest expense increased by $331, or 40% for the quarter ended November 30, 2010.  This is attributable to an increase in the unsecured notes payable balance.                       |

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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:    January 13, 2011                                            | BY:                | /s/ James B. Wiegand |
|                                                                                                                                                                                                                                                                                                                 |               | James B. Wiegand     |
|                                                                                                                                                                                                                                                                                                                 |     | President            |

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