UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10 - KSB

(Mark One)

[ x ]    ANNUAL REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Period year ended February 28, 2007

[    ]    TRANSITION REPORT UNDER
SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to
___________________



Commission file number: 333-133987



Aslahan Enterprises Ltd.

----------------------------------------------

(Exact name of small business issuer as specified in its
charter)

Nevada
    N/A(State or other jurisdiction of incorporation
      or organization)
    (IRS Employer
Number)


2498 West 41st Ave, Suite 123, Vancouver B.C. V6M 2A7

----------------------------------------------------------

(Address of principal executive office)

604-551-6699

----------------------------------

(Issuer's telephone number)

N/A

-----------------

(Former name, former address and former fiscal year, if changed
since last report)



Securities registered under Section 12(b) of the Exchange Act:
None

Securities registered under Section 12(g) of the Exchange Act:
Common Stock, $0.001

Check whether the issuer (1) filed all reports required to
      be filed by Section 13 or 15(d) of the Exchange Act during the past 12
      months (or for such shorter period that that the registrant was required
      to file such reports), and (2) has been subject to such filing
      requirements for the past 90 days.
    Yes [ x ]
    No  [    ]Check if there is no disclosure of delinquent filers in
      response to Item 405 Regulation S-B is not containing in this form, and no
      disclosure will be contained, to the best of the registrant's knowledge,
      in definitive proxy or information statements incorporated by reference in
      Part III of this Form 10-KSB or any amendments to this Form 10-KSB
    [   ]Indicate by check mark whether the company is a shell
      company (as defined in Rule12b-2 of the Exchange Act)
    Yes [  x  ]
    No [  ] State issuer's revenues for its most recent fiscal year
-$0 State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the price at which
the common equity was sold, or the average bid and asked price of such common
equity, as of a specified date within the past 60 days. (See definition of
affiliate in Rule 12b-2 of the Exchange Act.)


Aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference as of February 28, 2007 is $586,000.

State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date.

As of February 28, 2007, there are 13,860,000common
shares outstanding.

Transitional Small Business Disclosure Format (Check One):
Yes [   ]  No[ x ]



1





ASLAHAN ENTERPRISES LTD.

FORM 10-KSB

For the Fiscal Year ended February 28, 2007

Table of Contents



Part I

Item
1.        Description of Business

Item
2.        Description of Property

Item
3.        Legal Proceedings

Item
4.        Submission of Matters to a vote of
Security Holders

Part II

Item
5.        Market for Common Equity and
Related Stockholder Matters

Item
6.        Management's Discussion and
Analysis or Plan of Operation

Item
7.        Financial Statement

Item
8.        Changes In and Disagreements with
Accountants on Accounting and Financial Disclosure

Item
8A.     Controls and Procedures

Item
8B.     Other Information

Part III

Item
9.        Directors, Executive Officers,
Promoters and Control Persons; Compliance with Section 16(a) of the Exchange
Ac

Item
10.      Executive Compensation

Item
11.      Security Ownership of Certain Beneficial
Owners and Management and Related Stockholder Matters

Item
12.      Certain Relationships and Related
Transactions

Item
13.      Exhibits

Item
14.      Principal Accountants Fees and Services

Signatures



2



FORWARD LOOKING STATEMENTS

CERTAIN STATEMENTS IN THIS ANNUAL REPORT ON FORM 10-KSB, OR
THE "REPORT," ARE "FORWARD-LOOKING STATEMENTS." THESE FORWARD-LOOKING STATEMENTS
INCLUDE, BUT ARE  NOT LIMITED TO, STATEMENTS ABOUT THE PLANS, OBJECTIVES,
EXPECTATIONS AND INTENTIONS OF ASLAHAN ENTERPRISES LTD., A NEVADA CORPORATION
AND OTHER STATEMENTS CONTAINED IN THIS REPORT THAT ARE NOT HISTORICAL FACTS.
FORWARD-LOOKING STATEMENTS IN THIS REPORT OR HEREAFTER INCLUDED IN OTHER
PUBLICLY AVAILABLE DOCUMENTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION,
OR THE "COMMISSION," REPORTS TO OUR SHAREHOLDERS AND OTHER PUBLICLY AVAILABLE
STATEMENTS ISSUED OR RELEASED BY US INVOLVE KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER FACTORS WHICH COULD CAUSE OUR ACTUAL RESULTS,
PERFORMANCE (FINANCIAL OR OPERATING) OR ACHIEVEMENTS TO DIFFER FROM THE FUTURE
RESULTS, PERFORMANCE (FINANCIAL OR OPERATING) OR ACHIEVEMENTS EXPRESSED OR
IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH FUTURE RESULTS ARE BASED UPON
MANAGEMENT'S BEST ESTIMATES BASED UPON CURRENT CONDITIONS AND THE MOST RECENT
RESULTS OF OPERATIONS. WHEN USED IN THIS REPORT, THE WORDS "EXPECT,"
"ANTICIPATE," "INTEND," "PLAN," "BELIEVE," "SEEK," "ESTIMATE" AND SIMILAR
EXPRESSIONS ARE GENERALLY INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS,
BECAUSE THESE FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES. THERE
ARE IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM
THOSE EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS, INCLUDING OUR
PLANS, OBJECTIVES, EXPECTATIONS AND INTENTIONS AND OTHER FACTORS.





3



PART I

Item 1.    Description of Business

Aslahan Enterprises Ltd. was
incorporated in the state of Nevada on October 26, 2005. We intend to commence
operations as an e-commerce company which will offer horse-racing gambling
advice and information via the Internet. The initial region we plan to market
our website to is to the Asia market. We currently have signed a contract with
an independent contractor to create and develop our company's website. Our
website completed the beta phase of its development in December 2006. We
currently have not advanced beyond the business plan state from our inception
until the date of this filing. In order for us to begin commercialization of our
product, we will need to raise additional capital.  From inception until
the date of this filing, we have had no material operating activities.

Our principal executive offices are
located at Suite 123 - 2498 West 41st Avenue, Vancouver, British Columbia and
our telephone number is (604)551-6699. Our fiscal year end is February 28th.

On November 10, 2005, Aslahan
Enterprises Ltd. signed a Web Site Design Contract with an independent
contractor, Randy Liu, to create and develop the company's website. We expect to
complete the beta phase of our company's website is scheduled to be completed by
the end of August 2006.

In consideration for Randy Liu to
create and develop the website, we accepted to pay the following fees:

1. We agreed to pay to Randy Liu a fixed rate of USD$25 per hour of work
    for the website. It is estimated that it will take 80 hrs to complete the
    initial phase of the website.

Other than the items
mentioned above, we are not required to make any other types of payments to
Aslahan Enterprises Ltd. during the term of the agreement.

We plan to commence operations as an
e-commerce company that offers horse-racing betting advice and information via
the Internet to the amateur horse-racing enthusiast. The initial region that we
plan to market our website to is the Asia market. More specifically, we plan to
target the Hong Kong horse-racing market at the outset. We are currently in the
process of creating a software program which will take traditional variables
used to make educated bets in horse racing, such as track conditions, the
lineage of the horse, and history of the jockey, and formulate a database and
ranking system of horses for each racing event. Amateur horse-racing enthusiast
will be able to access our database of information and ranking system through
our website and make an informed decision on which horse to place their bets on
in the next race. Users of our website will be able to pay for a one-time tip or
subscribe to our services on a monthly basis. Our website will not offer any
betting or gambling services or products. We are solely in the business of
offering information and statistics to amateur horse racing enthusiasts.  We
have currently signed a contract with an independent contractor to help us
create and develop our website. We are planning to have our website fully
developed and running by the end of July 2007. As of the date of this
prospectus, we have not yet identified an individual to write the coding of our
software program.

The current Internet horse-racing
industry is highly fragmented. There are currently many small-scale websites
which offer horse racing tips via the Internet. From management's research, most
of these horse racing websites also offer gambling services in conjunction to
their advisory services, such as help placing a bet on a certain race on behalf
of the Internet user for a commission. The research currently available to
horse-racing enthusiasts is limited, as most websites do not offer any
significant evidence or information to substantiate their racing advise.

As of to date of this filing, we have
not generated any revenues, as we have had no operational activities.

Currently, we have no insurance
coverage

As of the date of this prospectus,
management is unaware of any government regulations the business is subject to.

We currently have no employees, other
than our director.

We do not have any subsidiaries.

There has been no bankruptcy,
receivership, or similar proceedings.

We have no patents or trademarks.

4

Item 2:    Description of Property

The Company's headquarters and
executive offices are located at Suite 123-2498 West 41st Ave,
Vancouver, British Columbia. Our telephone number is (604) 551-6699..

Item 3:     Legal Proceedings

There are no existing, pending or threatened
legal proceedings involving Aslahan Enterprises Ltd., or against any of our officers
or directors as a result of their involvement with the Company.



Item 4:      Submission of Matters to a Vote of
Security Holders

There were no matters submitted to a vote of security holders during the
quarter ended February 28, 2007



PART II

Item 5:    Market for Common Equity, Related
Stockholder Matters and Small Business Issuer Purchases of Equity
Securities

There is currently no publicly trading market for our common stock.

There are no outstanding options or warrants or convertible securities to
purchase our common equity

All of the 13,860,000 common shares outstanding are eligible for sale through
the use of Rule 144 under the Securities Act.

As of February 28, 2007, the approximate number of holders of Common Stock of the
Company is 30.

Since our inception date, our boards of directors have not declared any
dividend payments to the shareholders. The declaration and payment of dividends
to holders of our common stock by us, if any, are subject to the discretion of
our board of directors. Our board of directors will take into account such
matters as general economic and business conditions, our strategic plans, our
financial results and condition, contractual, legal and regulatory restrictions
on the payment of dividends by us, and such other factors as our board of
directors may consider to be relevant.

The company has never issued securities for any equity compensation plan.

5



Item 6:     Management's Discussion and Analysis or
Plan of Operation

Aslahan Enterprises Ltd. was incorporated in the state of Nevada on October 26,
2005. We intend to commence operations as an e-commerce company which will offer
horse-racing gambling advice and information via the Internet. The initial
region we plan to market our website to is to the Asia market. We currently have
signed a contract with an independent contractor to create and develop our
company's website. Our website completed the beta phase of its development in
December 2006. We currently have not advanced beyond the business plan state
from our inception until the date of this filing. In order for us to begin
commercialization of our product, we will need to raise additional capital. 
From inception until the date of this filing, we have had no material operating
activities.

Overview

Aslahan Enterprises Ltd. was
incorporated in the state of Nevada on October 26, 2005. We intend to commence
operations as an e-commerce company which will offer horse-racing gambling
advice and information via the Internet. The initial region we plan to market
our website to is to the Asia market. We currently have signed a contract with
an independent contractor to create and develop our company's website. Our
website completed the beta phase of its development in December 2006. We
currently have not advanced beyond the business plan state from our inception
until the date of this filing. In order for us to begin commercialization of our
product, we will need to raise additional capital.  From inception until
the date of this filing, we have had no material operating activities.

Results of Operations

Revenues

We did not earn any revenues during the fiscal period end February 28, 2007, nor
has the Company earned any revenues since its inception date of October 26, 2005.

General & Administrative Expenses

General and administrative expenses totaled $27,541 for the fiscal period
ended February 28, 2007, compared to expenses of $33,932 for the fiscal period
ended February 28, 2006. General and administrative expenses incurred during the
fiscal period ended February 28, 2007 is largely attributed to fees paid for
occupancy costs on the firm's existing office.

We experienced a net loss of $27,541 for the fiscal period ended February 28,
2007, compared to a net loss of $33,932 for the fiscal period ended February 28,
2006..

Liquidity and Capital Resources

As of February 28, 2007, the Company had cash of $2,712. Management does not
expect that the current level of cash on hand will be sufficient to fund our
operation for the next twelve month period. In the event that additional funds
are required to maintain operations, our officers and directors have agreed to
advance us sufficient capital to allow us to continue operations. We may also be
able to obtain loans from our shareholders, but there are no agreements or
understandings in place currently.

We believe that we will require additional funding to expand our business and
ensure its future profitability. We anticipate that any additional funding will
be in the form of equity financing from the sale of our common stock. However,
we do not have any agreements in place for any future equity financing. In the
event we are not successful in selling our common stock, we may also seek to
obtain short-term loans from our director.

6

Item 7:    Financial Statements

The consolidated financial statements required to be filed pursuant to this
Item 7 begin on page F-1 of this report.

Item 8:    Changes In Disagreements With Accountants on
Accounting and Financial Disclosure

The Financial Statements of the Company have been audited by
Fazzari + Partners LLP, Chartered Accountants for the fiscal year ended February
28, 2007 and by Cinnamon Jang & Willoughby for the period ended February 28,
2006. There have been no changes in or disagreements with Fazzari + Partners LLP,
Chartered Accountants and Cinnamon Jang & Willoughby on accounting and financial disclosure matters at any
time.

Item 8A: Controls and Procedures

Our Chief Executive Officer, President, and Chief Financial
Officer (the "Certifying Officers") is responsible for establishing and
maintaining disclosure controls and procedures for the Company. The Certifying
Officers have designed such disclosure controls and procedures to ensure that
material information is made known to them, particularly during the period in
which this report was prepared. The Certifying Officers have evaluated the
effectiveness of the Company's disclosure controls and procedures within 90 days
of the date of this report and believe that the Company's disclosure controls
and procedures are effective based on the required evaluation. There have been
no significant changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date of their
evaluation, including any corrective actions with regard to significant deficiencies
and material weaknesses.

Item 8B: Other Information

None

Item 9:    Directors, Executive Officers,
Promoters and Control Persons; Compliance with Section 16(a) of the Exchange
Act

Officers and Directors

Each of our directors serves until his or her successor is elected and
qualified. Each of our officers is elected by the board of directors to a term
of one (1) year and serves until his or her successor is duly elected and
qualified, or until he or she is removed from office. The board of directors has
no nominating, auditing or compensation committees.

7

The name, age, and position of our present officers and directors
are set forth below:

Name
    Age
    Position HeldTina Sangha
    23
    President, Principal Executive Officer, Principal
      Financial Officer,, Secretary  Treasurer, Secretary, and
      Director


Each director serves until our next annual meeting of the stockholders or
unless they resign earlier. The Board of Directors elects officers and their
terms of office are at the discretion of the Board of Directors.

Background of officers and directors

Tina Sangha has been our president,
principal executive officer, principal financial officer, principal accounting
officer, treasurer and director since October 28, 2005.

For the past six years, Ms. Sangha was
the head foreperson for Playland Food and Beverage Stand in Vancouver, Canada in
which she was in charge of managing a number of fast food stands at the
amusement park. During the last five years, Ms. Sangha also worked as a
secretary for Superb Lawns and Tree Sprayers, a home gardening company based in
Vancouver, Canada. Currently, Ms. Sangha is a research associate with Walsmey
Researh.

Ms. Sangha completed her Business
Administration Diploma in 2005 from Capilano College. She is expected to
complete her Bachelor of Business Administration degree near the end of 2006.

Audit Committee Financial Expert

We do not have an audit committee financial expert. We do not have an audit
committee financial expert because we believe the cost related to retaining a
financial expert at this time is prohibitive. Further, because we are only
beginning our commercial operations, at the present time, we believe the
services of a financial expert are not warranted.

Conflicts of Interest

The only conflict that we foresee is that our officers and directors devote
time to projects that do not involve us.

8

SECTION 16(A) BENEFICIAL OWNER REPORTING
COMPLIANCE

Section 16(a) of the Securities and Exchange Act of
1934 requires that the Company's directors, executive officers, and persons who
own more than 10% of registered class of the Company's equity securities, or
file with the Securities and Exchange Commission (SEC), initial reports of
ownership and report of changes in ownership of common stock and other equity
securities of the Company. Officers, directors, and greater than 10% beneficial
owners are required by SEC regulation to furnish the Company with copies of all
Section 16(a) reports they file. As of the fiscal year ending February 28, 2007, Form 3 reports were not timely filed by
Tina Sangha, the Company's sole
officer and director.

Code of Ethics

The Company has adopted code of ethics for all of the
employees, directors and officers which is attached to this Annual Report as
Exhibit 14.1.

Item 10:    Executive Compensation

The following table sets forth information with respect to compensation paid
by us to our officers and directors during the four most recent fiscal years.
This information includes the dollar value of base salaries, bonus awards and
number of stock options granted, and certain other compensation, if any.

|Summary Compensation
      Table             
|---------------------------------------------
|                                             
|                                             
|(a)                                          
|Name and Principal Position (1)              
|Tina Sangha                                  
|President, Treasurer, Secretary, and Director

[1]     All compensation received by the officers and directors has
been disclosed.

Option/SAR Grants

There are no stock option, retirement, pension, or profit sharing plans for
the benefit of our officers and directors.

Long-Term Incentive Plan Awards

We do not have any long-term incentive plans.

9

Compensation of Directors

We do not have any plans to pay our directors any money.

Indemnification

Under our Articles of Incorporation and Bylaws of the corporation, we may
indemnify an officer or director who is made a party to any proceeding,
including a law suit, because of his position, if he acted in good faith and in
a manner he reasonably believed to be in our best interest. We may advance
expenses incurred in defending a proceeding. To the extent that the officer or
director is successful on the merits in a proceeding as to which he is to be
indemnified, we must indemnify him against all expenses incurred, including
attorney's fees. With respect to a derivative action, indemnity may be made only
for expenses actually and reasonably incurred in defending the proceeding, and
if the officer or director is judged liable, only by a court order. The
indemnification is intended to be to the fullest extent permitted by the laws of
the State of Nevada.

Regarding indemnification for liabilities arising under the Securities Act of
1933, which may be permitted to directors or officers under Nevada law, we are
informed that, in the opinion of the Securities and Exchange Commission,
indemnification is against public policy, as expressed in the Act and is,
therefore, unenforceable.

Item 11: Security Ownership of Certain Beneficial Owners
and Management and Related Stockholder Matters

The following table sets forth, as of the date of this prospectus, the total
number of shares owned beneficially by each of our directors, officers and key
employees, individually and as a group, and the present owners of 5% or more of
our total outstanding shares. The table also reflects what their ownership will
be assuming completion of the sale of all shares in this offering. The
stockholders listed below have direct ownership of his/her shares and possess
sole voting and dispositive power with respect to the shares. The address for
each person is our address at 2498 West 41st Ave., Suite 123, Vancouver, British
Columbia, V6M 2A7.

Name of Beneficial Owner
    Direct Amount of Beneficial Owner
    Position
    Percent of ClassTina Sangha
    8,000,000
    President, Principal Executive Officer, Principal
      , Principal Accounting Officer, Treasurer, Secretary, and
      Director
    57.72%All officers and directors as a Group (1
      person)
    
    
    57.72%


Securities authorized for issuance under equity compensation
plans.

We have no equity compensation plans.

Item 12: Certain Relationships and Related Transactions

We issued 8,000,000 shares of common stock to Tina Sangha, our president and a
member of the board of directors in April 2005, in consideration of $8,000.



10

Item 13: Exhibits

Exhibit
No.                             
Description

3.1*                                        
Articles of Incorporation of the Company (incorporated by refernce to the Form
10-SB filed with the Securities and Exchange Commission on May 11, 2006)

3.2*                                        
Bylaws of the Company (incorporated by reference to the Form 10-SB filed with
the Securities and Exchange Commission on May 11, 2006)

10.1*                                      
Website Design Contract (incorporated by reference to the Form 10-SB filed with
the Securities and Exchange Commission on May 11, 2006)

14                                           
Code of Ethics

31                                           
Certification of the Chief Executive Officer and Chief Financial Officer
pursuant to Rule 13a-14 of the Securities and Exchange Act of 1934 as amended,
as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32                                          
Certification of the Chief Executive Officer and Chief Financial Officer
pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002

Item 14: Principal Accountant Fees and Services

1) Audit Fees

The aggregate fees billed for the last two fiscal years for professional
services rendered by the principal accountant for the audit of the Company's
annual financial statements and review of financial statements included in the
Company's Form 10-QSBs or services that are normally provided by the accountant
in connection with statutory and regulatory engagements for those fiscal years
was:

2007 - $5,500          Fazarri + Partners LLP

2006 -
$5,000          Cinnamon Jang &
Willoughby

2) Audit - Related Fees

The aggregate fees billed in each of the last two fiscal years for assurance
and related services by the principal accountants that are reasonably related to
the performance of the audit or review of the Company's financial statements and
are not reported in the preceding paragraph:

2007 - $0                   

Fazarri + Partners LLP

2006 - $0                  

 Cinnamon Jang & Willoughby

11

3) Tax Fees

The aggregate fees billed in each of the last two fiscal years for
professional services rendered by the principal accountant for tax compliance,
tax advice, and tax planning was:

2007 - $0                   

Fazarri + Partners LLP

2006 - $0                  

 Cinnamon Jang & Willoughby

4) All Other Fees

The aggregate fees billed in each of the last two fiscal years for the
products and services provided by the principal accountant, other than the
services reported in paragraphs (1), (2), and (3) was:

2007 - $0                   

Fazarri + Partners LLP

2006 - $0                  

 Cinnamon Jang & Willoughby









12



SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized on this 29th day of
May, 2007

Aslahan Enterprises Ltd.

(Registrant)

By: /s/ Tina Sangha

Tina Sangha

President and Chief Executive
Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated:

Signature
    Title
    Date/s/ Tina Sangha
    President, CEO,CFO, Secretary, Treasurer and DirectorTina Sangha












13



INDEX TO FINANCIAL STATEMENTS



Report of Independent Registered Public Accounting Firm

Balance Sheet for the years ended February 28, 2007 and
2006                                    
F-2

Statement of Operations for the years ended February 28, 2007 and
2006                     
F-3

Statement of Cash Flows for the years ended February 28, 2007 and
2006                    
F-4

Statement of Shareholder's
Equity                                                                                   
F-5

Notes to Financial
Statement                                                                                           
F-6





ASLAHAN ENTERPRISES LTD.

FINANCIAL STATEMENTS

FOR THE FISCAL PERIOD ENDED FEBRUARY 28, 2007

May 4, 2007

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To the Board of Directors and Shareholders of Aslahan Enterprises
Ltd. (A Development Stage Company):

We
have audited the accompanying balance sheet of Aslahan Enterprises Ltd.
(A Development Stage Company) as at February 28, 2007 and the statements
of accumulated deficit, operations and cash flows for the year then ended. These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an option of these financial statements based on
our audit.

We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform an audit to obtain reasonable assurance wheter the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting assessing the accounting principals used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.

In
our opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of the Company as at February 28, 2007
and the results of its operations and cash flows for the year then ended, in
conformity with the accounting principals generally accepted in the United
States of America.

The
accompanying financial statements have been prepared assuming the Company will
continue as a going concern. As discussed in Note 1 to the financial statements,
the Company incurred losses from operations since inception, has not attained
profitable operations and is dependent upon obtaining adequate financing to fund
its operations. These factors raise substantial doubt about the Company's
ability to continue as a going concern. Managements plan in regards to this
matter is also discussed in Note 1. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

The
comparative figures were reported on by another accounting firm.

FAZZARI + PARTNERS LLPChartered
Accountants, Licensed Public Accountants


F-1





Aslahan Enterprises Ltd.

(A Nevada Corporation)

( A Development Stage Company)

Balance Sheets

(Expressed in US dollars)



February 28, 2007($)
    February 28, 2006
      ($)ASSETSCurrent AssetsCash
    2,712
    12,568Accounts Receivable
    -
    2,000TOTAL
    ASSETS
    2,712
    14,568LIABILITIES AND STOCKHOLDERS' DEFICIENCYCurrent LiabilitiesAccounts payable and accrued liabilities
    18,185
    8,000Long TermDue to Shareholder
    5,500
    -23,685
    8,000Stockholders' DeficiencyCommon StockAuthorized:75,000,000 common shares at $0.001 par valueIssued and Outstanding13,860,000 common shares
    13,860
    13,860Additional paid in capital
    26,640
    26,640Deficit
    (61,473)
    (33,932)(20,973)
    6,5682,712
    14,568Approved on behalf of the Board"Tina Sangha", Director and Chief Executive
    OfficerSee Accompanying Notes
F-2
Aslahan Enterprises Ltd.
(A Nevada Corporation)
( A Development Stage Company)
Statement of Operations
(Expressed in US dollars)
Cumulative From Date of Inception on October 26, 2005 to
    February 28, 2007
    For the Year Ended February 28, 2007
    Inception Date of October 26, 2005 to February 28, 2006General and Administrative ExpensesOccupancy Costs
    16,000
    12,000
    4,000Professional Fees
    30,990
    8,868
    22,122Management Fees
    12,700
    5,700
    7,000Regulatory and Transfer Agent Fees
    1385
    760
    625Bank Charges and Interest
    320
    213
    107Office and
    General
    78
    -
    7827,541
    33,932Net Profit (Loss) for the Period
    
    (27,541)
    (33,932)Net Profit (Loss) per Common Share
    
    $ (0.00)
    $ (0.00)Basic and dilutedWeighted Average Number of Shares
    Outstanding
    
    13,860,000
    13,860,000Basic and dilutedSee Accompanying
Notes
F-3
Aslahan Enterprises Ltd.
(A Nevada Corporation)
Statement of Cash Flows
(Expressed in US Dollars)
Cumulative From Date of Inception on October 26, 2005 to
    February 28, 2007
    For the Year Ended February 28, 2007
    Inception Date of October 26, 2005 to February 28, 2006Cash Provided by (Used for)Operating ActivitiesNet Profit (Loss) for
      the Period
    (61,473)
    (27,541)
    (33,932)Changes in non-cash working capital itemsAccounts Receivable
    -
    2,000
    (2,000)Accounts Payable and Accrued Liabilities
    18,185
    10,185
    8,000Cash Used for operating
      activities
    (43,288)
    (15,356)
    (27,932)Financing ActivitiesCapital Stock subscribed
    26,640
    -
    26,640Additional paid in Capital
    13,860
    -
    13,860Loan from
	Shareholder
    5,500
    5,500
    -Cash Provided by financing
    activities
    46,000
    5,500
    40,500(Decreased) increase in cashduring the year
    2,712
    (9,856)
    12,568Cash, Beginning of Period
    -
    12,568
    -Cash, End of Period
    2,712
    2,712
    12,568See Accompanying
Notes


F-4

Aslahan Enterprises Ltd.

(A Nevada Corporation)

(A Development Stage Company)

Statement of Stockholders' Equity

Accumulated for the period from date of inception, on October
26, 2005, to February 28, 2007

(Expressed in US dollars)

Number of Common Shares
    Par Value
    Additional Paid-In-Capital
    Deficit Accumulated
    Total Stockholders Equity (Deficit)Capital Stock Issued for Cash- at $0.001, October 27, 2005
    
    8,000,000
    8,000
    -
    
    8,000- at $0.001, October 27, 2005
    
    4,500,000
    4,500
    -
    
    4,500- at $0.01, November 10, 2005
    
    1,200,000
    1,200
    10,800
    
    12,000- at $0.10, January 17, 2006
    
    160,000
    160
    15,840
    
    16,000Net Loss for the period from date of inception on October 26, 2005 to
    February 28, 2006
    
    
    
    
    (33,932)
    (33,932)Balance February 28, 2006
    
    13,860,000
    13,860
    26,640
    (33,932)
    6,568Net Loss for the year ended February 28, 2007
    
    
    
    
    (27,541)
    (27,541)Balance February 28, 2007
    
    13,860,000
    13,860
    26,640
    (61,473)
    (20,973)See Accompanying Notes


F-5

Aslahan Enterprises Ltd.

(A Nevada Corporation)

(A Development Stage Company)

Notes to Financial Statements

Fiscal Year Ended February 28, 2007

(Expressed in U.S. Dollars)

1.       Nature and
  continuance of operations The Company is a development stage company which was incorporated in the State
  of Nevada, United States of America on October 26, 2005.  The Company intends
  to commence operations as an e‐commerce company providing online horse‐racing
  advisory and information services only. These financial statements have been prepared on a going concern basis.  The
  Company has accumulated a deficit of $61,473 since inception, and has yet to
  achieve profitable operations and further losses are anticipated in the
  development of its business, raising substantial doubt about the Company's
  ability to continue as a going concern.  Its ability to continue as a going
  concern is dependent upon the ability of the Company to generate profitable
  operations in the future and/or to obtain the necessary financing to meet its
  obligations and repay its liabilities arising from normal business operations
  when they come due.  Management plans to continue to provide for its working
  capital needs by seeking loans from its shareholders.  These financial
  statements do not include any adjustments to the recoverability and
  classification of assets, or the amount and classification of liabilities that
  may be necessary should the Company be unable to continue as a going concern. 2.       Significant
  accounting policies These financial statements of the
  Company have been prepared in accordance with accounting principles generally
  accepted in the United States of America.  Because a precise determination of
  many assets and liabilities is dependent upon future events, the preparation
  of financial statements for a period necessarily involves the use of
  estimates, which have been made using careful judgment.  Actual results may
  vary from these estimates. The financial statements have, in
  management's opinion, been properly prepared within the framework of the
  significant accounting policies summarized below: (a)       
  Cash and cash equivalents Cash equivalents comprise certain highly liquid
  instruments with a maturity of three months or less when purchased.  As at
  February 28, 2007, there were no cash equivalents.


(b)       
  Development stage company The Company complies with Statement of
  Financial Accounting Standard ("SFAS") No. 7 and the Securities and Exchange
  Commission Exchange Act 7 for its characterization of the Company as
  development stage. (c)        Foreign currency translation The Company is located and operating
  outside of the United States of America.  It maintains its accounting records
  in U.S. Dollars, as follows: At the transaction date, each asset,
  liability, revenue and expense is translated into U.S. dollars by the use of
  exchange rates in effect at that date.  At the period end, monetary assets and
  liabilities are remeasured by using the exchange rate in effect at that date. 
  The resulting foreign exchange gains and losses are included in operations. The Company's currency exposure is
  insignificant and immaterial and we do not use derivative instruments to
  reduce its potential exposure to foreign currency risk. (d)       
  Financial instruments The carrying value of the Company's
  financial instruments consisting of cash equivalents  and accounts payable and
  accrued liabilities approximates their fair value because of the short
  maturity of these instruments.  Unless otherwise noted, it is management's
  opinion that the Company is not exposed to significant interest, currency or
  credit risks arising from these financial instruments.


(e)       
  Income Taxes The Company uses the asset and liability method
  of accounting for income taxes in accordance with SFAS No. 109 "Accounting for
  Income Taxes".  Under this method, deferred tax assets and liabilities are
  recognized for the future tax consequences attributable to temporary
  difference between the financial statements carrying amounts of existing
  assets and liabilities and their respective tax bases.  Deferred tax assets
  and liabilities are measured using enacted tax rates expected to apply to
  taxable income in the years in which those temporary differences are expected
  to be recovered or settled. (f)       
  Basic and diluted net loss per share In accordance with SFAS No. 128, "Earnings Per Share", the basic net loss per
  common share is computed by dividing net loss available to common stockholders
  by the weighted average number of common shares outstanding.  Diluted net loss
  per common share is computed similar to basic net loss per common shares that
  would have been outstanding if the potential common shares had been issued and
  if the additional common shares were dilutive.  As at February 28, 2007,
  diluted net loss per share is equivalent to basic net loss per share. (g)       
  Website development cost The Company adopted EITF‐2, "Accounting for
  Website Development Costs," which specifies the appropriate accounting for
  costs incurred in connection with the development and maintenance of
  websites.  Under the EITF 00‐2, website development costs are capitalized when
  acquired and installed, and are being amortized over its estimated useful
  life.  On November 10, 2005, the Company entered into a web design contract
  (Note 5).  For the period ended February 28, 2007, the website development has
  not yet commenced and no cost has been incurred.


(h)       
  Stock based compensation The Company accounts for stock options and
  similar equity instruments issued in accordance with SFAS No. 123 (revised). 
  "Share‐Based Payment".  Accordingly, compensation costs attributable to stock
  options or similar equity instruments granted are measured at the fair value a
  the grant date, and expensed over the expected vesting period.  Transactions
  in which goods or services are received in exchange for the issuance of equity
  instruments are accounted for based on the fair value of the consideration
  received or the fair value of the equity instruments issued, whichever is more
  reliably measurable.  SFAS no. 123 (revised) requires excess tax benefits be
  reported as a financing cash inflow rather than as a reduction of taxes paid. (i)        
  Comprehensive incom The Company adopted Statement of Financial
  Accounting Standards NO. 130 (SFAS 130), Reporting Comprehensive Income, which
  establishes standards for reporting and display of comprehensive income, its
  components and accumulated balances.  The Company is disclosing this
  information on its Statement of Stockholders' Equity.  Comprehensive income
  comprises equity except those resulting from investments by owners and
  distributions to owners. The Company has no elements of "other
  comprehensive income" during the period ended February 28, 2007. (j)        
  Revenue recognition The Company's business is in the sale of
  horse‐racing advice and research through a website on the Internet.  The
  Company recognizes revenue at the time of sale of the service when
  responsibility of the service is transferred to the purchase and payment has
  been accepted or assured. (k)      
  Advertising expenses The Company expenses advertising costs as
  incurred.  There was no advertising expense incurred by the Company during the
  year ended February 28, 2007.


(l)         New accounting standards Management does not believe that any recently issued but not yet effective
  accounting standards, if currently adopted, could have a material effect on
  the accompanying financial statements. 3.       Capital stock On October 27, 2005, the Company
  issued 8,000,000 common shares at $0.001 per share to the director of the
  Company for total proceeds of $8,000. On October 27, 2005, the Company
  issued 4,500,000 common shares at $0.001 per share to nine investors for total
  proceeds of $4,500. On November 10, 2005, the Company
  issued 1,200,000 common shares at $0.01 per share to twelve investors for
  total proceeds of $12,000. On January 17, 2006, the Company
  issued 160,000 common shares at $0.10 per share to eight investors for total
  proceeds of $16,000. 4.       Income taxes As at February 28, 2007, the
  Company has an estimated net operating loss carryforward for tax purpose of
  $16,000.  This amount may be applied against future federal taxable income and
  begins to expire in 2016. As management of the Company cannot
  determine that it is more likely than not that the Company will realize the
  benefit of the deferred tax asset, a valuation allowance equal to the deferred
  tax asset has been established as at February 28, 2007.  The significant
  components of the deferred tax asset as at February 28, 2007 were as follows: 2007                 2006 Net operating loss carry
  forwards                                             $      16,000      $     
  14,637 Valuation
    allowance                                                                   
         (16,000)           (14,637)
 Net deferred tax
    asset                                                              
    $               -      $               -


5.       Commitments

On November 10, 2005, the management of the Company signed a web design contract
with an independent contractor, Randy Liu, to create and develop the Company's
website.  In consideration, the Company agreed to pay Mr. Liu a fixed rate of
$US 25 per hour of work.  It is expected that the website will require 80 hours
of labour to be complete.