----

----

| GREEN PLANET BIOENGINEERING CO. LIMITED                |
|--------------------------------------------------------|
| (Exact Name of Registrant as Specified In Its Charter) |

| DELAWARE                                                       |   | 37-1532842                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) |   | (I.R.S. Employer Identification No.) |

|   19950 W. Country Club Drive, Suite 100, Aventura, FL |   |  33180 |
|-------------------------------------------------------------|--------|-------------|
| (Address of Principal Executive Offices)                    |   | (Zip Code)  |

| 1 305 328 8662                                              |
|-------------------------------------------------------------|
|   (Registrant's Telephone Number, Including Area Code) |

| Yes: þ | No: o |
|-------------|-------|

| Large Accelerated Filer | o      | Accelerated Filer    | o      |
|-------------------------|--------|---------------------------|--------|
|                    |   |                      |   |
| Non-accelerated Filer   | o      | Smaller Reporting Company | þ |

| Yes: o | No: þ |
|--------|------------|

----

----

----

|                                     |                                                                                                                   | Page Number |   |
|------------------------------------------|------------------------------------------------------------------------------------------------------------------------|-------------|--------|
|                                     |                                                                                                                   |        |   |
| PART I   FINANCIAL INFORMATION |
|                                     |
| Item 1                                   | Condensed Balance Sheets as of March 31, 2011 (Unaudited) and December 31, 2010 (Audited)                              |        |   | 1 |   |
|                                     |                                                                                                                   |        |   |   |   |
|                                     | Condensed Statements of Income and Comprehensive Income for the Three Months Ended March 31, 2011 and 2010 (Unaudited) |        |   | 2 |   |
|                                     |                                                                                                                   |        |   |   |   |
|                                     | Condensed Statements of Cash Flows for the Three Months Ended March 31, 2011 and 2010 (Unaudited)                      |        |   | 3 |   |
|                                     |                                                                                                                   |        |   |   |   |
|                                     | Notes to the Condensed Financial Statements                                                                            |        |   | 4 |   |
|                                     |                                                                                                                   |        |   |   |   |
| 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 |   |
|                                     |                                                                                                                   |        |   |   |   |
| PART II  OTHER INFORMATION          |
|                                     |                                                                                                                   |        |   |   |   |
| Item 1                                   | Legal Proceedings                                                                                                 |        |   | 12 |   |
|                                     |                                                                                                                   |        |   |   |   |
| Item 2                              | Unregistered Sales of Equity Securities and Use of Proceeds                                                       |        |   | 12 |   |
|                                     |                                                                                                                   |        |   |   |   |
| Item 3                                   | Defaults upon Senior Securities                                                                                        |        |   | 12 |   |
|                                     |                                                                                                                   |        |   |   |   |
| Item 4                              | Reserved                                                                                                          |        |   | 12 |   |
|                                     |                                                                                                                   |        |   |   |   |
| Item 5                                   | Other Information                                                                                                      |        |   | 12 |   |
|                                     |                                                                                                                   |        |   |   |   |
| Item 6                                   | Exhibits                                                                                                               |        |   | 12 |   |
|                                     |                                                                                                                   |        |   |   |   |
| SIGNATURES                               |                                                                                                                   |        |   | 13 |   |

----

----

| PART I | FINANCIAL INFORMATION |
|--------|-----------------------|

| ITEM 1 | FINANCIAL STATEMENTS |
|--------|----------------------|

|                                                           |   | March 31, 2011 |     |   | December 31, 2010 |   |
|----------------------------------------------------------------|--------|----------------|----------|--------|-------------------|--------|
|                                                           |   |           |     |   |              |   |
| ASSETS                                                         |   |           |     |   |              |   |
| Current assets                                                 |   |           |     |   |              |   |
| Cash and cash equivalents                                      |   | $              | 668      |   |              | $      | 668 |   |
| Prepaid expense and other receivables                          |   |           | 4,417    |   |              |   | 4,417 |   |
|                                                           |   |           |     |   |              |   |   |   |
| TOTAL CURRENT ASSETS/TOTAL ASSETS                              |   | $              | 5,085    |   |              | $      | 5,085 |   |
|                                                           |   |           |     |   |              |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                     |   |           |     |   |              |   |   |   |
|                                                           |   |           |     |   |              |   |   |   |
| LIABILITIES                                                    |   |           |     |   |              |   |   |   |
| Current liabilities                                            |   |           |     |   |              |   |   |   |
| Trade payables                                                 |   | $              | 88,500   |   |              | $      | 88,500 |   |
| Other payables and accrued liabilities                         |   |           | 2,723    |   |              |   | 2,723 |   |
| Amount due to a related party                                  |   |           | 69,960   |   |              |   | 69,170 |   |
|                                                           |   |           |     |   |              |   |   |   |
| TOTAL CURRENT LIABILITIES/TOTAL LIABILITIES                    |   |           | 161,183  |   |              |   | 160,393 |   |
|                                                           |   |           |     |   |              |   |   |   |
|                                                           |   |           |     |   |              |   |   |   |
| SHAREHOLDERS’ EQUITY                                     |   |           |     |   |              |   |   |   |
| Preferred stock : par value of $0.001 per share                |   |           |     |   |              |   |   |   |
| Authorized: 10,000,000 shares at March 31, 2011                |   |           |     |   |              |   |   |   |
| and December 31, 2010                                          |   |           |     |   |              |   |   |   |
| Issued and outstanding :  0 shares at March 31, 2011 |   |           | -        |   |              |   | - |   |
| and December 31, 2010                                          |   |           |     |   |              |   |   |   |
| Common stock : par value $0.001 per share                      |   |           |     |   |              |   |   |   |
| Authorized : 250,000,000 shares at March 31, 2011              |   |           |     |   |              |   |   |   |
| and December 31, 2010                                          |   |           |     |   |              |   |   |   |
| Issued and outstanding : 20,006,402 shares                     |   |           |     |   |              |   |   |   |
| at March 31, 2011 and December 31, 2010                        |   |           | 20,006   |   |              |   | 20,006 |   |
| Additional paid-in capital                                     |   |           | 431,025  |   |              |   | 431,025 |   |
| Retained earnings                                              |   |           | (607,129 | )      |              |   | (606,339 | ) |
|                                                           |   |           |     |   |              |   |   |   |
| TOTAL SHAREHOLDERS’ EQUITY (DEFICIT)                     |   |           | (156,098 | )      |              |   | (155,308 | ) |
|                                                           |   |           |     |   |              |   |   |   |
|                                                           |   |           |     |   |              |   |   |   |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY               |   | $              | 5,085    |   |              | $      | 5,085 |   |

----

|                                            |   | Three Months ended March 31, |       |
|-------------------------------------------------|--------|------------------------------|------------|
|                                            |   | 2011                         |       |   | 2010 |   |
|                                            |   |                         |       |   |   |   |
| Administrative expenses                         |   | $                            | (790       | ) |   | $ | (4,537 | ) |
| Other income                                    |   |                         | -          |   |   |   | 90 |   |
|                                            |   |                         |       |   |   |   |   |   |
| Loss from continuing operations                 |   |                         | (790       | ) |   |   | (4,447 | ) |
| Income from discontinued operations             |   |                         | -          |   |   |   | 949,195 |   |
|                                            |   |                         |       |   |   |   |   |   |
| Net (loss) income                               |   | $                            | (790       | ) |   | $ | 944,748 |   |
|                                            |   |                         |       |   |   |   |   |   |
|                                            |   |                         |       |   |   |   |   |   |
| STATEMENT OF COMPREHENSIVE INCOME               |   |                         |       |   |   |   |   |   |
|                                            |   |                         |       |   |   |   |   |   |
| Net (loss) income                               |   | $                            | (790       | ) |   | $ | 944,748 |   |
| Other comprehensive income                      |   |                         |       |   |   |   |   |   |
| Unrealized foreign currency gain                |   |                         | -          |   |   |   | 618 |   |
|                                            |   |                         |       |   |   |   |   |   |
| Total comprehensive (loss) income               |   | $                            | (790       | ) |   | $ | 945,366 |   |
|                                            |   |                         |       |   |   |   |   |   |
| Earnings per share based on net (loss) income   |   |                         |       |   |   |   |   |   |
|                                            |   |                         |       |   |   |   |   |   |
| - Basic                                         |   | $                            | (0.00      | ) |   | $ | 0.05 |   |
|                                            |   |                         |       |   |   |   |   |   |
| - Diluted                                       |   | NA                           |       |   | $ | 0.04 |   |
|                                            |   |                         |       |   |   |   |   |   |
| Weighted average number of shares outstanding : |   |                         |       |   |   |   |   |   |
| - Basic                                         |   |                         | 20,006,402 |   |   |   | 20,006,402 |   |
|                                            |   |                         |       |   |   |   |   |   |
| - Diluted                                       |   |                         | 20,159,001 |   |   |   | 25,260,001 |   |

----

|                                                |   | Three Months ended March 31 |   |
|-----------------------------------------------------|--------|-----------------------------|--------|
|                                                |   | 2011                        |   |   | 2010 |   |
|                                                |   |                        |   |   |   |   |
| Cash flows from operating activities                |   |                        |   |   |   |   |
| Net loss from continuing operations                 |   | $                           | (790   | ) |   | $ | (4,447 | ) |
| Net income from discontinued operations             |   |                        | -      |   |   |   | 949,195 |   |
| Changes in operating assets and liabilities :       |   |                        |   |   |   |   |   |   |
| Other payables                                      |   |                        | -      |   |   |   | 3,269 |   |
| Amount due to a related party                       |   |                        | 790    |   |   |   | 1,178 |   |
|                                                |   |                        |   |   |   |   |   |   |
| Net cash flows provided by operating activities     |   |                        | -      |   |   |   | 949,195 |   |
|                                                |   |                        |   |   |   |   |   |   |
| Cash flows from investing activities                |   |                        | -      |   |   |   | - |   |
|                                                |   |                        |   |   |   |   |   |   |
| Cash flows from financing activities                |   |                        | -      |   |   |   | - |   |
|                                                |   |                        |   |   |   |   |   |   |
| Discontinued operations                             |   |                        |   |   |   |   |   |   |
| Operating cashflows                                 |   |                        | -      |   |   |   | 926,992 |   |
| Investing cashflows                                 |   |                        | -      |   |   |   | (238,694 | ) |
| Financing cashflows                                 |   |                        | -      |   |   |   | 1,800,000 |   |
|                                                |   |                        |   |   |   |   |   |   |
| Net cash flows provided by discontinuing operations |   |                        | -      |   |   |   | 2,488,298 |   |
|                                                |   |                        |   |   |   |   |   |   |
| Effects of foreign currency translation             |   |                        | -      |   |   |   | (428 | ) |
|                                                |   |                        |   |   |   |   |   |   |
| Net increase in cash and cash equivalents           |   |                        | -      |   |   |   | 3,437,065 |   |
| Cash and cash equivalents - beginning of period     |   |                        | 668    |   |   |   | 791,775 |   |
|                                                |   |                        |   |   |   |   |   |   |
| Cash and cash equivalents - end of period           |   | $                           | 668    |   |   | $ | 4,228,840 |   |
|                                                |   |                        |   |   |   |   |   |   |
| Supplemental disclosures for cash flow information: |   |                        |   |   |   |   |   |   |
| Continuing operations                               |   |                        |   |   |   |   |   |   |
| Cash paid for interest                              |   | $                           | -      |   |   | $ | - |   |
| Discontinued operations                             |   |                        |   |   |   |   |   |   |
| Cash paid for interest                              |   | $                           | -      |   |   | $ | 34,578 |   |
| Cash paid for Income taxes                          |   | $                           | -      |   |   | $ | 588,803 |   |

----

----

|                                |   | For the Periods Ended March 31, |   |
|-------------------------------------|--------|---------------------------------|--------|
|                                |   | 2011                            |   |   | 2010 |   |
|                                |   | (unaudited)                     |   |   | (uaudited) |   |
|                                |   |                            |   |   |   |   |
|  Bank loan interest            |   | $                               | -      |   |   | $ | 34,578 |   |
|  Amortization of loan discount |   |                            | -      |   |   |   | 41,250 |   |
|  Other loan interest           |   |                            | -      |   |   |   | 18,700 |   |
|  Bank charges                  |   |                            | -      |   |   |   | 1,075 |   |
|  Exchange loss                 |   |                            | -      |   |   |   | 1,056 |   |
|                                |   |                            |   |   |   |   |   |   |
|                                |   | $                               | -      |   |   | $ | 96,659 |   |

|                                |   | Period ended March 31, 2010 |       |
|-------------------------------------|--------|-----------------------------|------------|
|                                |   | (unaudited)                 |       |
|                                |   |                        |       |
| Sales revenue                       |   | $                           | 3,259,429  |   |
| Cost of sales                       |   |                        | (1,469,280 | ) |
|                                |   |                        |       |   |
| Gross profit                        |   |                        | 1,790,149  |   |
| Expenses                            |   |                        | 587,101    |   |
|                                |   |                        |       |   |
| Income before tax                   |   |                        | 1,203,048  |   |
| Income taxes                        |   |                        | (253,853   | ) |
|                                |   |                        |       |   |
| Income from discontinued operations |   | $                           | 949,195    |   |

----

|   | (i) Defined contribution plan Pursuant to the relevant PRC regulations, the Company is required to make contributions at a rate of 29% of the average salaries for the latest fiscal year-end of Fujian Province to a defined contribution retirement plan organized by a state-sponsored social insurance plan in respect of the retirement benefits for the Company's employees in the PRC. The only obligation of the Company with respect to retirement plan is to make the required contributions under the plan. No forfeited contribution is available to reduce the contribution payable in the future years. The defined contribution plan contributions were charged to the statement of income and comprehensive income.The Company contributed $21,878 to the plan for the three months ended March 31, 2010. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) Income taxes United StatesThe Company is subject to the United States of America Tax law at tax rate of approximately 40%.  No provision for the US federal income taxes has been made as the Company had no taxable income in this jurisdiction for the reporting periods.BVIElevated Throne was incorporated in the BVI and, under the current laws of the BVI, is not subject to income taxes.PRCThe PRC’s legislative body, the National People’s Congress, adopted the unified Corporate Income Tax Law on March 16, 2007. This new tax law replaces the existing separate income tax laws for domestic enterprises and foreign-invested enterprises and became effective on January 1, 2008.  Under the new tax law, a unified income tax rate is set at 25% for both domestic enterprises and foreign-invested enterprises.Accordingly, the PRC entities are subject to PRC enterprise income tax at the rate of 25% on their assessable profits during the three months ended March 31, 2010.The components of the provision for income taxes are: |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                        |   | Period ended March 31, 2010 |    |
|---------------------------------------------|--------|----------------------------------|---------|
|                                        |   | (unaudited)                      |    |
|                                        |   |                             |    |
| Current taxes – PRC    |   | $                                | 237,490 |   |
| Deferred taxes          |   |                             | 16,363  |   |
|                                        |   |                             |    |   |
|                                        |   | $                                | 253,853 |   |

|   | The following table reconciles the Group's effective tax rate: |
|--------|----------------------------------------------------------------|

|     PRC income taxes                              |   |   | 25   | %  |
|----------------------------------------------------------------------------|--------|--------|------|----|
|     Local income tax adjustment              |   |   | (3.9 | )% |
|     Effective income tax rates     |   |   | 21.1 | %  |

----

----

|           |   |     |   |   | Number of warrants |    |
|----------------|--------|----------|--------|--------|--------------------|---------|
|           |   |     |   |   | Outstanding        |    |   |   |   |   |   |   |   | Outstanding |   |
|           |   |     |   |   | as of              |    |   |   |   |   | Granted/ |   |   | as of |   |
|           |   | Exercise |   |   | January            |    |   |   |   |   | forfeited/ |   |   | March |   |
| Month of grant |   | price    |   |   |               | 1, 2011 |   |   | Exercised |   |   | cancelled |   |   |   | 31, 2011 |   |
|           |   |     |   |   |               |    |   |   |   |   |   |   |   |   |   |   |   |
| October 2008   |   | $        | 0.001  |   |               |    | 152,599 |   |   |   | - |   |   |   | - |   |   |   | 152,599 |   |

----

| ITEM 2 | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
|--------|---------------------------------------------------------------------------------------------|

----

----

| i.   | pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| ii.   | provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of our management and directors; and |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| iii.   | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on our financial statements. |
|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (a)  Exhibits      |   |                                                                    |
|------------------------------|--------|-------------------------------------------------------------------------|
|                         |   |                                                                    |
| 31.1                         |   | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|                         |   |                                                                    |
| 31.2                         |   | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|                         |   |                                                                    |
| 32.1                         |   | Certification pursuant to 18 U.S.C. Section 1350                        |
|                         |   |                                                                    |
| 32.2                         |   | Certification pursuant to 18 U.S.C. Section 1350                        |
|                         |   |                                                                    |
| (b) Reports on Form 8-K |

----

|               | GREEN PLANET BIOENGINEERING CO., LTD. |                                                          |
|--------------------|---------------------------------------|---------------------------------------------------------------|
|               |                                  |                                                          |   |
| Date: May 16, 2011 | By:                                   | /s/ Min Zhao                                             |   |
|               |                                  | Min Zhao                                                      |   |
|               |                                  | Chief Executive Officer                                       |   |
|               |                                  | (Principal Executive Officer and Principal Financial Officer) |   |