UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549





FORM
10-Q







x
            ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
      1934.





FOR
THE QUARTERLY PERIOD ENDED JUNE 30, 2009





OR





o
            TRANSITION
      REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
      1934




Commission
File #





MONEYLOGIX GROUP,
INC.


(Exact
name of registrant as specified in its charter)





NEVADA
              33-0680443(State
      or other jurisdiction of
                incorporation
      or organization)
              (I.R.S.
      Employer
                Identification
      No.)





260 Edgeley Blvd, Suite 12, Concord,
Ontario L4K 3Y4


(Address
of principal executive offices and zip code)





Registrant’s telephone number,
including area code: (905) 761-1400





Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter periods 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
o





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company
filer.  See definition of “accelerated filer” and “large accelerated
filer” in rule 12b-2 of the Exchange Act (Check one):





Large
      accelerated filer
              o
              Accelerated
      filer
              oNon-accelerated
      filer
              o
              Smaller
      reporting company
              x


Indicate
by check mark whether the registrant is a shell company as defined in Rule 12b-2
of the Exchange Act.





Yes  x            No
o





Indicate
the number of shares outstanding of the Registrant’s common stock as of the
latest practicable date.





Class
                  
                  Outstanding
      at  August 14,  2009Common
      Stock, $.001 par value
                  
                  94,538,586


Aggregate market value of
the voting common stock held by non-affiliates of the registrant as of August
14, 2009 is: $95,483,972





Transfer
      Agent as of August 14, 2009:
            OTR,
      Inc.
              Transfer
      Agent & Registrar
              1000
      SW Broadway, Suite 920
              Portland,
      Oregon 97205
              (503)
      225-0375
              www.transfer.com








TABLE
OF CONTENTS





Item
      1.
              Financial
      Statements
              3Item
      2.
              Management’s
      Discussion and Analysis of Financial Condition
              4Item
      3.
              Quantitative
      and Qualitative Disclosures About Market Risk
              6Item
      4T.
              Control
      and Procedures
              6PART
      II— OTHER INFORMATIONItem
    1
              Legal
      Proceedings
              8Item
      2.
              Unregistered
      Sales of Equity Securities and Use of Proceeds
              8Item
      3.
              Defaults
      Upon Senior Securities
              8Item 4.
              Submission
      of Matters to a Vote of Security Holders
              8Item
      5.
              Other
      Information
              8Item 6.
              Exhibits
      and Reports on Form 8-K
              8SIGNATURE
              9





2





PART
I:  FINANCIAL INFORMATION





ITEM
1.  FINANCIAL STATEMENTS





Basis
of Presentation





The
accompanying statements are presented in accordance with U.S. generally accepted
accounting principles for interim financial information and the instructions to
Form 10-Q and Regulation S-X.  Accordingly, they do not include all of
the information and footnotes required by U.S. generally accepted accounting
principles for complete financial statements.  In the opinion of
management, all adjustments (consisting only of normal occurring adjustments)
considered necessary in order to make the financial statements not misleading,
have been included. Operating results for the three months and the six months
ended June 30, 2009 are not necessarily indicative of results that may be
expected for the year ending December 31, 2009.





The
financial statements of the Company appear at the end of this report beginning
with the Index to Financial Statements on page F-1 and ending on
F-15.





3





ITEM 2.  MANAGEMENT’S DISCUSSION AND
ANALYSIS





The
following is management’s discussion and analysis of the financial condition and
results of operations of MoneyLogix Group, Inc. for the three months and six
months ending June 30, 2009 and 2008.    The following
information should be read in conjunction with the reviewed financial statements
for the period ending June 30, 2009 and notes thereto appearing elsewhere in
this form 10-Q.





Overview





MoneyLogix
Group, Inc. (“Company”, “We”, “Our”, or “MoneyLogix Group”), formerly Homelife,
Inc., a corporation incorporated under the laws of Nevada, entered into a share
exchange agreement on January 3, 2008 with MoneyLogix Inc., a Delaware private
corporation. The reverse merger transaction effected a change of control of the
Company. The accounting acquirer is MoneyLogix, Inc. and the historical
operations of the Company are the operations of MoneyLogix, Inc. Pursuant to the
terms of the share exchange agreement, the parties agreed to the
following:




1.
              Mr.
      Cimerman, the former Company Chief executive and majority shareholder,
      agreed to transfer 458,000 shares of the Company to the Company treasury
      in exchange for the spin off of all assets of the Company to Mr. Cimerman.
      This was executed at closing on May 28, 2008. Mr. Cimerman still had a
      shareholder loan to be satisfied by the
Company;
 
 2.
              MoneyLogix
      Group agreed to change the name of the Company from Homelife, Inc. to
      MoneyLogix Group, Inc. This was executed on January 29th ,
      2008;
 
 3.
              MoneyLogix
      Group agreed to issue 100,000,000 shares of our common stock to MoneyLogix
      Inc. in exchange for 100% of MoneyLogix Inc.’s issued and outstanding
      stock. 80,000,000 shares of the Company were issued on May 28, 2008 to
      MoneyLogix Inc. 100% of the shares of MoneyLogix Inc. were transferred to
      MoneyLogix Group making MoneyLogix Inc. a wholly owned subsidiary of the
      Company on May 28, 2008. On June 13, 2008, 200,000 additional shares of
      the Company were issued to MoneyLogix Inc. shareholders. 19,800,000 shares
      of the Company are still to be transferred to MoneyLogix Inc.
      shareholders, post agreement closure on May 28, 2008, pending changes to
      the number of shares authorized for
issuance;
 
 4.
              MoneyLogix
      Inc. agreed to pay to the Company $250,000 for the satisfaction of all
      outstanding debt of the Company, including the outstanding amount owing to
      Mr. Cimerman. MoneyLogix Inc. made payment of $250,000 to an agreed upon
      trust agent on May 28, 2008, to be released to the Company upon on the
      complete satisfaction of all the terms of the agreement.  The
      cash occurred between shareholders and did not run through Moneylogix,
      Inc., therefore this is a non cash transaction included in Capital in the
      accompanying Statements of Stockholder’s
  Deficit.
 
 5.
              The
      Company will effect a 22 to 1 reverse split of the Company’s stock. The 22
      to 1 reverse stock split took place on May 28,
  2008;
 
 6.
              Following
      the 22 to 1 reverse stock split, MoneyLogix Group agreed to issue 490,310
      shares of common stock (post 22-for-1 reverse stock split) to Mr.
      Cimerman, the former Company Chief executive and majority shareholder, in
      consideration for Mr. Cimerman retiring a certain portion of debt the
      Company owes him and cancelling 10,000 of Our Class A preferred shares and
      50 of Our Class AA Preferred Shares held by Mr. Cimerman. It was agreed
      that the 490,310 shares issued to Mr. Cimerman shall be restricted and
      locked up for transfer and monetization for 24 months.  The
      490,310 shares of common stock are included in the total 563,586 shares
      dated May 28, 2008 as Common Shares Outstanding to Former Homelife,
      Inc.  Shareholders in the accompanying Statements of
      Stockholder’s Deficit.
  There are
no material differences in accounting treatment or federal income tax
consequences from the share exchange agreement. Similarly, we were not required
to obtain any federal or state regulatory approvals to complete the share
exchange agreement. Accordingly, We did not obtain any reports, opinions, or
appraisals relating to the fairness of the transaction because we deemed it an
unnecessary and costly expense given the nature of the
transaction.





MoneyLogix
Group is a development stage capital investment company focussed on
opportunistic acquisitions in the real estate
market.   MoneyLogix Group focus is creating value through timely
acquisitions, investing in high-yielding value enhancement tactics, and
executing the best exit strategies for each unique investment property in
Canada, USA and other international countries.


4





It is
MoneyLogix' intent to use its capital for the acquisition of undervalued
residential and commercial real estate and zoned property and, with limited
redevelopment, sell the acquired property at a substantial profit in the future
when real estate values return to historical norms or better.




Where
ever possible, we will lease acquired premises to obtain rental income until
such time as property values and market demands allow a divestiture of
properties from our real estate portfolio that achieves a satisfactory return on
investment to shareholders.




To
execute the business strategy, MoneyLogix added the following individuals to its
management team effective May 11th, 2009:
Mike Knarr, President & Chief Executive Officer; Gary Cilevitz, Chief
Financial Officer and Corporate Secretary; Tom Copeland, Executive Vice
President; Adam Seanor, Executive Vice President.   Concurrently,
the Corporation elected Alex Haditaghi to the position of Chairman of the Board
effective August 11, 2009.  The Board of Directors consist of Alex
Haditaghi, Mike Knarr and Gary Cilevitz as at May 11th, 2009
and are currently searching for independent directors.   Majid
Haditaghi resigned effectively May 12, 2009 as an officer and
director.





On May
20, 2009 the Company acquired all of the stock of 2131059 Ontario
Limited.  The acquired business 100% owns an approximately 100 acre
property in Barrie, Ontario, Canada which it is developing.  The
purchase price for 2131059 was approximately $23,000,000 (Canadian $26,300,000)
which was funded by assumption of Mortgages Payable
of  $7,567,647(Canadian $8,630,000), Accounts Payable
of  $175,000(Canadian $200,000) and the issuance of 8,775,000
restricted common shares of MoneyLogix at  $1.75 (Canadian $2.00) per
share.





During
the past two years, other than the share exchange agreement described
here-to-fore, there has not been any negotiations, transactions or material
contracts between the Company and MoneyLogix Inc. regarding a merger,
consolidation, acquisition, tender offer, election of directors or sale/transfer
of material assets of either company.





The Company’s corporate offices are at
260 Edgeley Blvd, Suite 12, Concord, Ontario L4K 3Y4.Our current contact
information for our office is telephone number: (905)
761-1400.




Results
of Operations





The
Company reported no revenue from operations during the three month and six month
period ending June 30, 2009.  Comparatively, the Company reported no
revenue from operations during the three month and six month period ending June
30, 2008.





The
Company incurred expenses of $563,080 for the three month period ending June 30,
2009 and $565,330 for the six month period ending June 30, 2009.  The
expenses consist primarily of professional fees and office and general in
regards to setting up the company and doing the necessary
filings.  Stock compensation expense and consulting and payroll fees
are for management to commence operations in the necessary
period.   Comparatively, for the three month period and six month
period ending June 30, 2008, the Company incurred professional fees expenditures
of $23,814. The Company reported total operating expenses of $924,242 period
from December 7, 2007 (the inception date.) to June 30, 2009





The
Company recorded a Net Loss for the three month period and six month period
ending June 30, 2009 of $563,080 and $565,330 with a comparative net loss for
2008 of $23,814 for both periods.   For the period from December
7, 2007 (inception date) to June 30, 2009, the Company recorded a cumulative Net
Loss of $924,242





Liquidity
and Capital Resources





At June
30, 2009, we had $26,485 of cash and total assets of $22,767,496. Comparatively
at December 31, 2008, we had zero cash and zero total assets.





At June
30, 2009, we had Liabilities of $8,312,469.   Comparatively at
December 31, 2008, the Company had $17,812 in accrued liabilities for a total of
$17,812 in liabilities.





As there
are no current revenues from operating activities, the Company must presently
rely upon the issuance of common stock and additional capital contributions from
shareholders and/or loans from shareholders and third-party lenders to meet our
working capital needs. It is expected by management that the Company will need
to rely upon new capital contributions to pay the accrued
liabilities.




5





Critical
Accounting Policies





Our
financial statements and related public financial information are based on the
application of accounting principles generally accepted in the United States
(“GAAP”). GAAP requires the use of estimates; assumptions, judgments and
subjective interpretations of accounting principles that have an impact on the
assets, liabilities, and revenue and expense amounts reported. These estimates
can also affect supplemental information contained in our external disclosures
including information regarding contingencies, risk and financial
condition.  We believe our use of estimates and underlying accounting
assumptions adhere to GAAP and are consistently and conservatively
applied.  We base our estimates on historical experience and on
various other assumptions that we believe to be reasonable under the
circumstances. Actual results may differ materially from these estimates under
different assumptions or conditions.  We continue to monitor
significant estimates made during the preparation of our financial
statements.





Going
Concern





The
Company’s financial statements are presented on a going concern basis, which
contemplates the realization of assets and satisfaction of liabilities in the
normal course of business.  For the three month period ending June 30,
2009, the Company incurred a Net Loss of $563,080 and for the six month period
ending June 30, 2008 the Company incurred a Net Loss of
$565,330.  Certain conditions noted below raise substantial doubt
about the Company’s ability to continue as a going concern.





The
Company’s ability to continue as a going concern is contingent upon its ability
to secure additional debt or equity financing, initiate sales of its services
and achieve profitable operations.  Management’s plan is to secure
additional funds through future debt or equity financings.  Such
financing may not be available or may not be available on reasonable terms to
the Company.  The issuance of additional equity securities by us could
result in a significant dilution in the equity interests of our current
stockholders. Obtaining commercial loans, assuming those loans would be
available, will increase our liabilities and future cash
commitments.





The
financial statements do not include any adjustments to reflect the possible
future effects on the recoverability and classification of assets or the amounts
and classification of liabilities that may result from the possible inability of
the Company to continue as a going concern.





Off-Balance
Sheet Arrangements





None.





ITEM
3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK





The
Company is subject to certain market risks, including changes in interest rates
and currency exchange rates.  The Company does not undertake any
specific actions to limit those exposures.




ITEM
4.  EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES





ITEM
4.  Controls and
Procedures




Evaluation of Disclosure
Controls and Procedures





We
carried out an evaluation of the effectiveness of the design and operation of
our disclosure controls and procedures (as defined in Exchange Act Rules
13a-15(e) and 15d-15(e)) as of June 30, 2009.  This evaluation was
accomplished under the supervision and with the participation of our chief
executive officer / principal executive officer, and chief financial officer /
principal financial officer who concluded that our disclosure controls and
procedures are not effective to ensure that all material information required to
be filed in the quarterly Form 10-Q has been made known to them.





For
purposes of this section, the term disclosure controls and procedures means
controls and other procedures of an issuer that are designed to ensure that
information required to be disclosed by the issuer in the reports that it files
or submits under the Act (15 U.S.C. 78a et seg.) is recorded, processed,
summarized and reported, within the time periods specified in the Commission’s
rules and forms.  Disclosure, controls and procedures include, without
limitation, controls and procedures designed to ensure that information required
to be disclosed by in our reports filed under the Securities Exchange Act of
1934, as amended (the "Act") is accumulated and communicated to the issuer's
management, including its principal executive and principal financial officers,
or persons performing similar functions, as appropriate to allow timely
decisions regarding required disclosure.





6




Based
upon an evaluation conducted for the period ended June 30, 2009, our Chief
Executive and Chief Financial Officer as of June 30, 2009 and as of the date of
this Report, has concluded that as of the end of the periods covered by this
report, we have identified the following material weakness of our internal
controls:





·
              Reliance
      upon independent financial reporting consultants for review of critical
      accounting areas and disclosures and material non-standard
      transaction.


·
              Lack
      of sufficient accounting staff which results in a lack of segregation of
      duties necessary for a good system of internal
  control.




In order
to remedy our existing internal control deficiencies, as our finances allow, we
will hire additional accounting staff.





This
Quarterly Report does not include an attestation report of the Company’s
registered public accounting firm regarding internal control over financial
reporting. Management’s report was not subject to attestation by the Company’s
registered public accounting firm pursuant to temporary rules of the Securities
and Exchange Commission that permit the Company to provide only management’s
report in this Quarterly Report.





Changes in Internal Controls
over Financial Reporting




We have
not yet made any changes in our internal controls over financial reporting that
occurred during the period covered by this report on Form 10-Q that has
materially affected, or is reasonably likely to materially affect, our
internal control over financial reporting.





Management Report on
Internal Control over Financial Reporting





Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting as defined in Rule 13a-15(f) or 15d-15(f)
promulgated under the Exchange Act. Those rules define internal control over
financial reporting as a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted
accounting principles and includes those policies and procedures
that:





• Pertain
to the maintenance of records that in reasonable detail accurately and fairly
reflect the transactions and dispositions of the assets of the
company;





• Provide
reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted
accounting principles, and the receipts and expenditures of the company are
being made only in accordance with authorizations of management and directors of
the Company; and





• Provide
reasonable assurance regarding prevention or timely detection of unauthorized
acquisitions, use or disposition of the company's assets that could have a
material effect on the financial statements.





Because
of its inherent limitations, internal controls over financial reporting may not
prevent or detect misstatements. Projections of any evaluation of effectiveness
to future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.





Management
assessed the effectiveness of our internal control over financial reporting as
of June 30, 2009. In making this assessment, our management used the criteria
established in Internal Control-Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO).





7





PART
II:  OTHER INFORMATION





ITEM
1.  LEGAL PROCEEDINGS





None





ITEM
2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
PROCEEDS





None





ITEM 3
..   DEFAULTS
UPON SENIOR SECURITIES





Not
Applicable.





ITEM
4:  SUBMISSIONS OF MATTERS TO A VOTE OF SECURITY HOLDERS





None.





ITEM
5:  OTHER INFORMATION





None.





ITEM
6:  EXHIBITS AND REPORTS ON FORM 8-K





(a)
            Exhibits





31.1      Certification
of the CEO and CFO Pursuant to Rule 13a-14(a) under the Securities Exchange Act
of 1934, as amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley
Act of 2002





32.1      Certification
of the CEO and CFO Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002





(b)
            Reports
      of Form 8-K





On May 19, 2009 the Company filed a
Form 8K announcing the new management and the board of directors.





On May
27, 2009, the Company filed a Form 8K disclosing the purchase of a 100 acre
development project in Barrie, Ontario, Canada.


8





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, there unto duly authorized.





MONEYLOGIX
      GROUP, INC.By:
                  /s/
      Mike KnarrMike
      KnarrPresident
      and Chief Executive Officer





Dated:
August 14, 2009





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.





NAME
                    
                    TITLE
                    
                    DATE/s/
      Mike Knarr
                    
                    President
      and Chief Executive Officer
                    
                    August
      14, 2009Mike
      Knarr





9





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)





CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS





JUNE
30, 2009




F-1





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


JUNE
30, 2009


CONTENTS





PageFINANCIAL
      STATEMENTSCondensed
      Consolidated Balance Sheets
                
                F3Condensed
      Consolidated Statements of Operations
                
                F4Condensed
      Consolidated Statements of Cash Flows
                
                F5Condensed
      Consolidated Statement of Stockholders’ Deficit
                
                F6Notes
      to the Condensed Consolidated Financial Statements
                
                F7
      - F15




F-2





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


CONDENSED
CONSOLIDATED BALANCE SHEETS





June
      30,
                          2009
                          (Unaudited)
                        
                        
                        December
      31,
                          2008ASSETSCurrent
      AssetsProperty
      undergoing development
                        
                        $
                        22,638,019
                        
                        
                        
                        -Cash
                        
                        
                        26,485
                        
                        
                        
                        -Due
      from Baywood Homes Partnership(note 5)
                        
                        
                        102,992
                        
                        
                        
                        -Total
      Assets
                        
                        $
                        22,767,496
                        
                        
                        $
                        -LIABILITIES
      AND STOCKHOLDERS' DEFICITCurrent
      LiabilitiesMortgage
      Payable(note 6)
                        
                        $
                        7,353,040
                        
                        
                        $
                        -Accounts
      Payable and accrued liabilities
                        
                        
                        352,554
                        
                        
                        
                        17,812Stock
      Compensation Liability(note 8)
                        
                        
                        408,000
                        
                        
                        
                        -Advances
      from related party(note 7)
                        
                        
                        198,875
                        
                        
                        
                        -Total
      Liabilities
                        
                        
                        8,312,469
                        
                        
                        
                        17,812Stockholders'
      DeficitPreferred
      Stock, $10 par value; 100,000 shares authorized, none issued (Note
      10)
                        
                        
                        -
                        
                        
                        
                        -Capital
      stock, $.001 par value; 100,000,000 shares authorized; 89,538,586 issued
      and outstanding (Note 10)
                        
                        
                        89,539
                        
                        
                        
                        80,764Additional
      Paid in Capital
                        
                        
                        15,655,876
                        
                        
                        
                        275,056Stock
      subscription receivable
                        
                        
                        -
                        
                        
                        
                        (14,720
                        )Other
      Comprehensive Loss
                        
                        
                        (366,146
                        )
                        
                        
                        -Deficit
      accumulated during the development stage
                        
                        
                        (924,242
                        )
                        
                        
                        (358,912
                        )Total
      Stockholders' Deficit
                        
                        
                        14,455,027
                        
                        
                        
                        (17,812
                        )Total
      Liabilities and Stockholders' Deficit
                        
                        $
                        22,767,496
                        
                        
                        $
                        -








The
accompanying notes are an integral part of these financial
statements.


F-3




MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)





For
      the Periodfrom
      December 7,Three
      Months Ended June 30,
                                          
                                          
                                          Six
      Months Ended June 30,
                                          
                                          
                                          2007
      (inception)2009
                                          
                                          
                                          2008
                                          
                                          
                                          2009
                                          
                                          
                                          2008
                                          
                                          
                                          to
      June 30, 2009(Unaudited)
                                          
                                          
                                          
                                          -
                                          
                                          
                                          (Unaudited)
                                          
                                          
                                          
                                          -REVENUES
                                          
                                          $
                                          -
                                          
                                          
                                          $
                                          -
                                          
                                          
                                          $
                                          -
                                          
                                          
                                          $
                                          -
                                          
                                          
                                          $
                                          -EXPENSESProfessional
      Fees
                                          
                                          
                                          39,992
                                          
                                          
                                          
                                          23,814
                                          
                                          
                                          
                                          42,242
                                          
                                          
                                          
                                          23,814
                                          
                                          
                                          
                                          68,990Office
      and General
                                          
                                          
                                          33,198
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          33,198
                                          
                                          
                                          
                                          -
                                          
                                          
                                          
                                          33,198Stock
      Compensation expense
                                          
                                          
                                          408,000
                                          
                                          
                                          
                                          -
                                          
                                          
                                          
                                          408,000
                                          
                                          
                                          
                                          -
                                          
                                          
                                          
                                          408,000Consulting
      and Payroll Fees
                                          
                                          
                                          81,890
                                          
                                          
                                          
                                          -
                                          
                                          
                                          
                                          81,890
                                          
                                          
                                          
                                          -
                                          
                                          
                                          
                                          163,490Cost
      of Reorganization
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          
                                          250,564TOTAL
      OPERATING EXPENSES
                                          
                                          
                                          563,080
                                          
                                          
                                          
                                          23,814
                                          
                                          
                                          
                                          565,330
                                          
                                          
                                          
                                          23,814
                                          
                                          
                                          
                                          (924,242
                                          )NET
      LOSS
                                          
                                          $
                                          (563,080
                                          )
                                          
                                          $
                                          (23,814
                                          )
                                          
                                          $
                                          (565,330
                                          )
                                          
                                          $
                                          (23,814
                                          )
                                          
                                          $
                                          (924,242
                                          )Foreign
      Currency Translation
                                          
                                          
                                          (366,146
                                          )
                                          
                                          
                                          -
                                          
                                          
                                          
                                          (366,146
                                          )
                                          
                                          
                                          -
                                          
                                          
                                          
                                          (366,146
                                          )COMPREHENSIVE
      LOSS
                                          
                                          
                                          (929,226
                                          )
                                          
                                          
                                          (23,814
                                          )
                                          
                                          
                                          (931,476
                                          )
                                          
                                          
                                          (23,814
                                          )
                                          
                                          
                                          (1,290,388
                                          )Net
      loss per share - basic and diluted
                                          
                                          $
                                          (0.01
                                          )
                                          
                                          $
                                          -
                                          
                                          
                                          $
                                          (0.01
                                          )
                                          
                                          $
                                          -Weighted
      average number of sharesoutstanding
      - basic and diluted
                                          
                                          
                                          85,541,086
                                          
                                          
                                          
                                          80,247,933
                                          
                                          
                                          
                                          87,513,586
                                          
                                          
                                          
                                          80,123,967






The
accompanying notes are an integral part of these financial
statements.





F-4





MONEYLOGIX GROUP,
INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)





Sic
      Months Ended
                            June
      30, 2009
                          
                          
                          Six Months
      Ended
                            June
      30,
                            2008
                          
                          
                          For
      the Period
                            from
      Inception
                            (December
      7,
                            2007)
                            to
                            June
      30,
                            2009Cash
      Flows from Operating ActivitiesNet
      loss
                          
                          
                          (565,330
                          )
                          
                          
                          (23,814
                          )
                          
                          $
                          (924,242
                          )Adjustments
      to reconcile net loss to net cash used in operating
      activities:Non-Cash
      consulting fees
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          81,600Non-Cash
      Cost of Reorganization
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          250,564Expenses
      paid by Stockholder
                          
                          
                          -
                          
                          
                          
                          15,564
                          
                          
                          
                          8,936Stock
      subscription receivable(services)
                          
                          
                          14,720
                          
                          
                          
                          -
                          
                          
                          
                          14,720Stock  compensation
      expense
                          
                          
                          408,000
                          
                          
                          
                          -
                          
                          
                          
                          408,000Accounts
      Payable and accrued liabilities
                          
                          
                          47,100
                          
                          
                          
                          8,250
                          
                          
                          
                          64,912Net
      Cash Used in Operating Activities
                          
                          
                          (95,510)
                          
                          
                          
                          -
                          
                          
                          
                          (95,510
                          )Cash
      Flows from Investing ActivitiesIncrease
      in Property undergoing development
                          
                          
                          (60,131
                          )
                          
                          
                          -
                          
                          
                          
                          (60,131
                          )Cash
      acquired on purchase of subsidiary
                          
                          
                          1,460
                          
                          
                          
                          -
                          
                          
                          
                          1,460Net
      Cash Provided by Investing Activities
                          
                          
                          (58,671
                          )
                          
                          
                          -
                          
                          
                          
                          (58,671
                          )Cash
      Flows from Financing ActivitiesDue
      from Shareholder
                          
                          
                          198,875
                          
                          
                          
                          -
                          
                          
                          
                          198,875Decrease
      in Mortgage Payable
                          
                          
                          (34,240
                          )
                          
                          
                          -
                          
                          
                          
                          (34,240
                          )Due
      from Baywood Homes Partnership
                          
                          
                          8,560
                          
                          
                          
                          -
                          
                          
                          
                          8,560Net
      Cash Provided by Financing Activities
                          
                          
                          173,195
                          
                          
                          
                          -
                          
                          
                          
                          173,195Foreign
      Exchange on Balances
                          
                          
                          7,471
                          
                          
                          
                          -
                          
                          
                          
                          7,471Net
      Increase in Cash and Cash Equivalents
                          
                          
                          26,485
                          
                          
                          
                          -
                          
                          
                          
                          26,485Cash
      and Cash Equivalents - Beginning of Period
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -Cash
      and Cash Equivalents - End of Period
                          
                          $
                          26,485
                          
                          
                          $
                          -
                          
                          
                          $
                          26,485Supplemental
      Cash Flow InformationInterest
      paid
                          
                          $
                          116,583
                          
                          
                          $
                          -
                          
                          
                          $
                          -Income
      taxes paid
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -






The
accompanying notes are an integral part of these financial
statements.





F-5





MONEYLOGIX
GROUP, INC.


(A
Development Stage Company)


CONDENSED
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT


FOR
THE PERIOD FROM THE DATE OF INCEPTION


(DECEMBER
7, 2007) TO JUNE 30, 2009




Common
      Stock
                          
                          
                          Preferred
      Stock
                          
                          
                          Additional
                            Paid-In
                          
                          
                          Stock
                            Subscription
                          
                          
                          Accumulated
      Other Comprehensive
                          
                          
                          Deficit
                            Accumulated
                            During
                            the
                            Development
                          
                          
                          Total
                            Stockholders'Shares
                          
                          
                          Amount
                          
                          
                          Shares
                          
                          
                          Amount
                          
                          
                          Capital
                          
                          
                          Receivable
                          
                          
                          Loss
                          
                          
                          Stage
                          
                          
                          DeficitIssuance of common stock for
      services
                          
                          
                          65,280,000
                          *
                          
                          $
                          65,280
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          16,320
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          81,600Issuance of common
stock
                          
                          
                          14,720,000
                          *
                          
                          $
                          14,720
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          (14,720
                          )
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -Net
      loss
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          (86,600
                          )
                          
                          $
                          (86,600
                          )Balance,
      December
      31, 2007
                          
                          
                          80,000,000
                          
                          
                          $
                          80,000
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          16,320
                          
                          
                          $
                          (14,720
                          )
                          
                          $
                          -
                          
                          
                          
                          (86,600
                          )
                          
                          $
                          (5,000
                          )May 28, 2008 Common Shares Outstanding to former HomeLife, Inc. Shareholders
                          
                          
                          563,586
                          
                          
                          $
                          564
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          250,000
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          250,564June
      13, 2008  Issuance to former MoneyLogixInc.
      Shareholder
                          
                          
                          200,000
                          
                          
                          $
                          200
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          (200
                          )
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -September 17, 2008 – Invoices Paid by
      Shareholder
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          1,436
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          1,436May 28, 2008 Preferred
      Shares Outstanding
      of Former HomeLife,
      Inc. Shareholders
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          1,500
                          
                          
                          $
                          15,000
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          15,000September 25, 2008 –
      Preferred Shares
      Cancelled
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          (1,500
                          )
                          
                          $
                          (15,000
                          )
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          (15,000
                          )November
      18, 2008 -  Invoice Paid
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          
                          7,500
                          
                          
                          
                          
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          7,500Net
      Loss
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          (272,312
                          )
                          
                          $
                          (272,312
                          )Balance,
      December
      31, 2008
                          
                          
                          80,763,586
                          
                          
                          $
                          80,764
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          275,056
                          
                          
                          $
                          (14,720
                          )
                          
                          $
                          -
                          
                          
                          
                          (358,912
                          )
                          
                          $
                          (17,812
                          )May
      20, 2009 Purchase of 2031059 Ontario Limited
                          
                          
                          8,775,000
                          
                          
                          
                          8,775
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          15,380,820
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          15,389,595June
      30, 2009 Stock subscription exchanged for services
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          14,720
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          14,720Foreign
      Currency Translation
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          -
                          
                          
                          
                          (366,146
                          )
                          
                          
                          -
                          
                          
                          
                          (366,146
                          )Net
      Loss
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          (565,330
                          )
                          
                          $
                          (565,330
                          )Balance,
      June 30,
      2009
                          
                          
                          89,538,586
                          
                          
                          $
                          89,539
                          
                          
                          
                          -
                          
                          
                          $
                          -
                          
                          
                          
                          15,655,876
                          
                          
                          $
                          -
                          
                          
                          $
                          (366,146
                          )
                          
                          
                          (924,242
                          )
                          
                          $
                          (14,445,027
                          )





*
Share and per share amounts reflect the effect of the May 28, 2008
reorganization.






The
accompanying notes are an integral part of these financial
statements.




F-6





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009




1.
              NATURE
      OF OPERATIONS AND ORGANIZATION


Nature
of Operations





MoneyLogix
Group, Inc. ("MoneyLogix" or the “Company”), (formerly Homelife, Inc.), which
registered a change of name with the State of Nevada on January 29, 2008 was
formerly know as Homelife, Inc. and is organized under the laws of the State of
Nevada.





MoneyLogix
are presently conducted through the Company’s subsidiaries, MoneyLogix Group,
Inc(an Ontario, Canada company) and 2131059 Ontario Limited(“2131059’)(an
Ontario, Canada company).     MoneyLogix Group is a
development stage capital investment company focussed on opportunistic
acquisitions in the real estate market.   MoneyLogix Group focus
is creating value through timely acquisitions, investing in high-yielding value
enhancement tactics, and executing the best exit strategies for each unique
investment property in Canada, USA and other international
countries.





MoneyLogix
Group, Inc. entered into a share exchange agreement on January 3, 2008 with
MoneyLogix Inc., a Delaware private corporation. The reverse merger transaction
effected a change of control of the Company. The accounting acquirer is
MoneyLogix, Inc. and the historical operations of the Company are the operations
of MoneyLogix, Inc. Pursuant to the terms of the share exchange agreement, the
parties agreed to the following:




1.
              Mr. Cimerman, the former Company
      Chief executive and majority shareholder, agreed to transfer 458,000
      shares of the Company to the Company treasury in exchange for the spin off
      of all assets and liabilities of the Company to Mr. Cimerman. This was
      executed at closing on May 28, 2008. Mr. Cimerman still had a shareholder
      loan to be satisfied by the
Company;
 
 2.
              MoneyLogix Group agreed to change
      the name of the Company from Homelife, Inc. to MoneyLogix Group, Inc. This
      was executed on January 29th,
  2008;
 
 3.
              MoneyLogix Group agreed to issue
      100,000,000 shares of our common stock to MoneyLogix Inc. in exchange for
      100% of MoneyLogix Inc.’s issued and outstanding stock. 80,000,000 shares
      of the Company were issued on May 28, 2008 to MoneyLogix Inc. 100% of the
      shares of MoneyLogix Inc. were transferred to MoneyLogix Group making
      MoneyLogix Inc. a wholly owned subsidiary of the Company on May 28, 2008.
      On June 13, 2008, 200,000 additional shares of the Company were issued to
      MoneyLogix Inc. shareholders. 19,800,000 shares of the Company are still
      to be transferred to MoneyLogix Inc. shareholders, post agreement closure
      on May 28, 2008, pending changes to the number of shares authorized for
      issuance;
 
 4.
              MoneyLogix Inc. agreed to pay to
      the Company $250,000 for the satisfaction of all outstanding debt of the
      Company, including the outstanding amount owing to Mr. Cimerman.
      MoneyLogix Inc. made payment of $250,000 to an agreed upon trust agent on
      May 28, 2008, to be released to the Company upon on the complete
      satisfaction of all the terms of the agreement.  The cash
      occurred between shareholders and did not run through Moneylogix,
      Inc.,  therefore this is a non cash transaction included in
      Capital in the accompanying Statements of Stockholder’s
      Deficit.
 
 5.
              The Company will effect a 22 to 1
      reverse split of the Company’s stock. The 22 to 1 reverse stock split took
      place on May 28, 2008;
 
 6.
              Following the 22 to 1 reverse
      stock split, MoneyLogix Group agreed to issue 490,310 shares of common
      stock (post 22-for-1 reverse stock split) to Mr. Cimerman, the former
      Company Chief executive and majority shareholder, in consideration for Mr.
      Cimerman retiring a certain portion of debt the Company owes him and
      cancelling 10,000 of Our Class A preferred shares and 50 of Our Class AA
      Preferred Shares held by Mr. Cimerman. It was agreed that the 490,310
      shares issued to Mr. Cimerman shall be restricted and locked up for
      transfer and monetization for 24 months.  The 490,310 shares of
      common stock are included in the total 563,586 shares dated May 28, 2008
      as Common Shares Outstanding to Former Homelife,
      Inc.  Shareholders in the accompanying Statements of
      Stockholder’s Deficit.




F-7





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009








2.
              BASIS
      OF PRESENTATION


The
Company has not earned any revenues from limited principal operations and
accordingly, the Company's activities have been accounted for as those of a
"Development Stage Enterprise" as set forth in Statement of Financial Accounting
Standards (“SFAS”) No. 7, Accounting and Reporting
by Development Stage Enterprises   (“SFAS No. 7 “). Among
the disclosures required by SFAS No. 7 are that the Company's financial
statements be identified as those of a development stage company, and that the
statements of operations, stockholders' deficit and cash flows disclose activity
since the date of the Company's inception.








3.
              GOING
      CONCERN


These
financial statements have been prepared assuming the Company will continue on a
going-concern basis. The Company has incurred losses since inception and the
ability of the Company to continue as a going-concern depends upon its ability
to develop profitable operations and to continue to raise adequate financing.
Management is actively targeting sources of additional financing to provide
continuation of the Company’s operations. In order for the Company to meet its
liabilities as they come due and to continue its operations, the Company is
solely dependent upon its ability to generate such financing.





There can
be no assurance that the Company will be able to continue to raise funds, in
which case the Company may be unable to meet is obligations. Should the Company
be unable to realize its assets and discharge its liabilities in the normal
course of business, the net realizable value of its assets may be materially
less than the amounts recorded in these financial statements.





The
financial statements do not include any adjustments relating to the
recoverability and classification of recorded asset amounts and classification
of liabilities that might be necessary should the Company be unable to continue
in existence.




4.
              SUMMARY
      OF SIGNIFICANT ACCOUNTING
POLICIES




The
accounting policies of the Company are in accordance with accounting principles
generally accepted in the United States of America. Presented below are those
policies considered particularly significant:





Interim Financial
Statements





The
accompanying interim unaudited financial information has been prepared pursuant
to the rules and regulations of the Securities and Exchange Commission. Certain
information and footnote disclosures normally included in financial statements
prepared in accordance with accounting principles generally accepted in the
United States of America have been condensed or omitted pursuant to such rules
and regulations, although management believes that the disclosures are adequate
to make the information presented not misleading. The interim financial
statements should be read in conjunction with the Company's annual financial
statements, notes and accounting policies included in the Company's annual
report on form 10 K for the year ended December 31, 2008 as filed with the SEC.
In the opinion of management, all adjustments, consisting only of normal
recurring adjustments, are necessary to present fairly the financial position of
the Company as of June 30, 2009 and the related operating results and cash flows
for the interim period presented have been made. The results of operations of
such interim period are not necessarily indicative of the results of the full
year.





Basis of Consolidation and
Presentation





The
accompanying consolidated financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America
and include the accounts of the Company, its wholly-owned subsidiaries
MoneyLogix Group, Inc and 2131059 Ontario Limited Inc. All significant
inter-company transactions and balances have been eliminated upon
consolidation.





F-8





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009








4.
              SUMMARY
      OF SIGNIFICANT ACCOUNTING
POLICIES(continued)




Comprehensive
Income or Loss





The
Company adopted SFAS No. 130, “Reporting Comprehensive Income.” SFAS No. 130
establishes standards for reporting and presentation of comprehensive income and
its components in a full set of financial statements. Comprehensive income is
presented in the statements of stockholders’ deficit, and consists of net loss
and unrealized gains (loss) on available for sale marketable securities; foreign
currency translation adjustments and changes in market value of future contracts
that qualify as a hedge; and negative equity adjustments recognized in
accordance with SFAS No. 87. SFAS No. 130 requires only additional disclosures
in the financial statements and does not affect the Company’s financial position
or results of operations.





Concentration of Credit
Risk





SFAS No.
105, “Disclosure of Information About Financial Instruments with Off-Balance
Sheet Risk and Financial Instruments with Concentration of Credit Risk”,
requires disclosure of any significant off-balance sheet risk and credit risk
concentration. The Company does not have significant off-balance sheet risk or
credit concentration.





Earnings
or Loss Per Share





The
Company accounts for earnings per share pursuant to SFAS No. 128, Earnings per Share , which
requires disclosure on the financial statements of "basic" and "diluted"
earnings (loss) per share. Basic earnings (loss) per share is computed by
dividing net income (loss) by the weighted average number of common stock
outstanding for the year. Diluted earnings (loss) per share is computed by
dividing net income (loss) by the weighted average number of common stock
outstanding plus common stock equivalents (if dilutive) related to stock options
and warrants for each year.




There
were no dilutive financial instruments for the period from December 7, 2007
(inception) to June 30, 2009.





Financial
Instruments





In
accordance with Statement of Financial Accounting Standards ("SFAS") SFAS No.
107, "Disclosures About Fair Value of Financial Instruments" ("SFAS No. 107"),
the estimated fair value of financial instruments has been determined by the
Company using available market information and valuation methodologies.
Considerable judgment is required in estimating fair value. Accordingly, the
estimates may not be indicative of the amounts the Company could realize in a
current market exchange. As of June 30, 2009, the carrying value of accounts
payable and accrued liabilities, advances from related party, and Mortgage
Payable approximate their fair value because of the limited terms of these
instruments.





In
accordance with Statement of Financial Accounting Standards ("SFAS") SFAS No.
157, “Defining Fair Value Measurement”  ("SFAS No.
157"), the Company adopted the standard which defines fair value, establishes a
framework for measuring fair value in generally accepted accounting principles
and expands disclosures about fair value measurements





Foreign
Currency Translation





The
Company accounts for foreign currency translation pursuant to SFAS No. 52,
“Foreign Currency Translation”. The Company’s functional currency is the
Canadian dollar. All assets and liabilities are translated into United States
dollars using the exchange rates prevailing at the end of the period. Revenues
and expenses are translated using the average exchange rates prevailing
throughout the year.





Unrealized
foreign exchange amounts resulting from translations at different rates
according to their nature are included in accumulated other comprehensive
income.





Realized
foreign currency transaction gains and losses are recognized in
operations.





F-9





MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009




4.
              SUMMARY
      OF SIGNIFICANT ACCOUNTING
POLICIES(continued)





Income
Taxes





The
Company accounts for income taxes pursuant to SFAS No. 109, Accounting for Income Taxes.
Deferred tax assets and liabilities are recorded for differences between the
financial statements and tax basis of the assets and liabilities that will
result in taxable or deductible amounts in the future based on enacted tax laws
and rates. Valuation allowances are established when necessary to reduce
deferred tax assets to the amount expected to be realized. Income tax expense is
recorded for the amount of income tax payable or refundable for the period
increased or decreased by the change in deferred tax assets and liabilities
during the period.





Impairment
of Long-lived Assets





In
accordance with SFAS No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets", long-lived assets to be held and used are analyzed for
impairment whenever events or changes in circumstances indicate that the related
carrying amounts may not be recoverable. The Company evaluates whether events
and circumstances have occurred that indicate possible impairment. If there are
indications of impairment, the Company uses future undiscounted cash flows of
the related asset or asset grouping over the remaining life in measuring whether
the assets are recoverable. In the event such cash flows are not expected to be
sufficient to recover the recorded asset values, the assets are written down to
their estimated fair value. Long-lived assets to be disposed of are reported at
the lower of carrying amount or fair value of asset less cost to sell. As
described in note 3, the long-lived assets have been valued on a going concern
basis; however, substantial doubt exists as to the ability of the Company to
continue as a going concern. If the Company ceases operations, the asset values
may be materially impaired.





Property
undergoing development




In
accordance with Statement of Financial Accounting Standards No. 34,
“Capitalization of Interest Cost” (“SFAS 34”) and Statement of Financial
Accounting Standards No. 67, “Accounting for Costs and Initial Rental Operations
of Real Estate Projects” (“SFAS 67”), we capitalize direct construction and
development costs, including predevelopment costs, interest, property taxes,
insurance and other costs directly related and essential to the acquisition,
development or construction of a project.  Pursuant to SFAS 34 and
SFAS 67, capitalization of construction, development and redevelopment costs is
required while activities are ongoing to prepare an asset for its intended
use.  Costs incurred after a project is substantially complete and
ready for its intended use are expensed as incurred.  Costs previously
capitalized related to abandoned acquisitions or development opportunities are
written off.  Should development, redevelopment or construction
activity cease, interest, property taxes, insurance and certain costs would no
longer be eligible for capitalization, and would be expensed as
incurred





In
accordance with SFAS 144, we classify a property as “held for sale” when all of
the following criteria for a plan of sale have been met: (1) management, having
the authority to approve the action, commits to a plan to sell the property; (2)
the property is available for immediate sale in its present condition, subject
only to the terms that are usual and customary; (3) an active program to locate
a buyer, and other actions required to complete the plan to sell, have been
initiated; (4) the sale of the property is probable and is expected to be
completed within one year; (5) the property is being actively marketed for sale
at a price that is reasonable in relation to its current fair value; and (6)
actions necessary to complete the plan of sale indicate that it is unlikely that
significant changes to the plan will be made or that the plan will be
withdrawn.  When all of these criteria have been met, the property is
classified as “held for sale”, its operations, including any interest expense
directly attributable to it, are classified as discontinued operations in our
consolidated statements of income and amounts for all prior periods presented
are reclassified from continuing operations to discontinued
operations.  A loss is recognized for any initial adjustment of the
asset’s carrying amount to fair value less costs to sell in the period the asset
qualifies as “held for sale”.   Depreciation of assets ceases
upon designation of a property as “held for sale”.





F-10




MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009


4.
                SUMMARY
      OF SIGNIFICANT ACCOUNTING
POLICIES(continued)





Stock-Based
Compensation





In
December 2004, the Financial Accounting Standards Board (“FASB”) issued SFAS No.
123R, Share-Based
Payment   ("SFAS No. 123R"). SFAS No. 123R establishes
standards for the accounting for transactions in which an entity exchanges its
equity instruments for goods or services. It also addresses transactions in
which an entity incurs liabilities in exchange for goods or services that are
based on the fair value of the entity’s equity instruments or that may be
settled by the issuance of those equity instruments. SFAS No. 123R focuses
primarily on accounting for transactions in which an entity obtains employee
services in share-based payment transactions. SFAS No. 123R requires that the
compensation cost relating to share-based payment transactions be recognized in
the financial statements. That cost will be measured based on the fair value of
the equity or liability instruments issued.





Use
of Estimates





The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
the disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the
reporting period. Actual results could differ from those estimates. These
estimates are reviewed periodically, and, as adjustments become necessary, they
are reported in earnings in the period in which they become known.





Recent
Accounting Pronouncements





In
December 2007, the FASB issued SFAS No. 141 (R) Business Combinations. SFAS
141R establishes principles and requirements for how the acquirer of a business
recognizes and measures in its financial statements the identifiable assets
acquired, the liabilities assumed, and any noncontrolling interest in the
acquiree. SFAS 141R also provides guidance for recognizing and measuring the
goodwill acquired in the business combination and determines what information to
disclose to enable users of the financial statements to evaluate the nature and
financial effects of the business combination. The guidance will become
effective as of the beginning of the Company’s fiscal year beginning after 15
December 2008. Management believes the adoption of this pronouncement will not
have a material impact on the Company's financial statements.





In
December 2007, the Financial Accounting Standards Board issued Statement of
Financial Accounting Standard (“SFAS”) No. 160, "Noncontrolling Interests in
Consolidated Financial Statements, an amendment of ARB No. 51”. SFAS 160
establishes accounting and reporting standards for the noncontrolling interest
in a subsidiary and for the deconsolidation of a subsidiary. SFAS 160 is
effective for fiscal years, and interim periods within those fiscal years,
beginning on or after December 15, 2008. As such, the Company is required to
adopt these provisions at the beginning of the fiscal year ended December 31,
2009. The Company is currently evaluating the impact of SFAS 160 on its
financial statements but does not expect it to have a material
effect.





In March
2008, the Financial Accounting Standards Board (“FASB”) issued Statement of
Financial Accounting Standard (“SFAS”) No. 161, " Disclosures about Derivative
Instruments and Hedging Activities—an amendment of FASB Statement No.
133”. SFAS 161 requires enhanced disclosures about an entity’s derivative
and hedging activities. SFAS 161 is effective for financial statements issued
for fiscal years and interim periods beginning after November 15, 2008 with
early application encouraged. As such, the Company is required to adopt these
provisions at the beginning of the fiscal year ended December 31, 2009. The
Company is currently evaluating the impact of SFAS 161 on its financial
statements but does not expect it to have a material effect.





In May
2008, the Financial Accounting Standards Board issued Statement of Financial
Accounting Standard (“SFAS”) No. 162, “TheHierarchy of Generally Accepted
Accounting Principles”. SFAS 162 identifies the sources of accounting
principles and the framework for selecting the principles used in the
preparation of financial statements of nongovernmental entities that are
presented in conformity with generally accepted accounting principles (GAAP) in
the United States. SFAS 162 is effective 60 days following the SEC’s approval of
the Public Company Accounting Oversight Board amendments to AU Section 411, The
Meaning of Present Fairly




F-11





MONEYLOGIX GROUP,
INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009





4.
            SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)





in
Conformity With Generally Accepted Accounting Principles. The Company is
currently evaluating the impact of SFAS 162 on its financial statements but does
not expect it to have a material effect.





In May
2008, the Financial Accounting Standards Board (“FASB”) issued Statement of
Financial Accounting Standard (“SFAS”) No. 163, " Accounting for Financial Guarantee
Insurance Contracts—an interpretation of FASB Statement No. 60 " (“SFAS
163”). SFAS 163 interprets Statement 60 and amends existing accounting
pronouncements to clarify their application to the financial guarantee insurance
contracts included within the scope of that Statement. SFAS 163 is effective for
financial statements issued for fiscal years beginning after December 15, 2008,
and all interim periods within those fiscal years. As such, the Company is
required to adopt these provisions at the beginning of the fiscal year ended
December 31, 2009. The Company is currently evaluating the impact of SFAS 163 on
its financial statements but does not expect it to have a material
effect.





In May
2009, the FASB issued SFAS No.165, “Subsequent Events,” which
establishes general standards for accounting for disclosure of events that occur
after the balance sheet day but before the financial statement are issued or are
available to be issued.  The pronouncement requires the disclosure of
the date through which an entity has evaluated subsequent events and the basis
for that date, whether that date represents the date the financial statements
were issued or were available to be issued.  SFAS 165 is effective
with interim and annual financial periods ending after June 15,
2009.  Management has evaluated the impact of the adoption of SFAS 165
and it has no impact the Company’s results of operations, financial position or
cash flows.





In July
2009, the FASB issued SFAS No. 168, “FASB Accounting Standards
Codification (“SFAS 168’), as the single source of authoritative
nongovernmental  U.S. generally accepted accounting
principles(GAAP).  The Codification is effective for interim and
annual periods ending after September 15, 2009.  All existing
accounting standards are superseded as described in SFAS 168.  All
other accounting literature not included in the Codification is
non-authoritative.  Management is currently evaluating the impact of
the adoption of SFAS 168 but does not expect the adoption of SFAS 168 to impact
the Company’s result of operation, financial position or cash
flows.








5.
              ACQUISITION
      OF 2131059 ONTARIO LIMITED




On May
20, 2009 the Company acquired all of the stock  of  2131059
Ontario Limited.  The acquired business 100% owns an approximately 100
acre property in Barrie, Ontario, Canada which it is developing.





The
purchase price for 2131059 was approximately $23million (Canadian $26,300,000)
which was funded by assumption of Mortgages Payable
of  $7,568,000(Canadian $8,630,000), Accounts Payable
of  $175,000(Canadian $200,000) and the issuance of 8,775,000
restricted common shares of MoneyLogix at $1.75(Canadian $2.00)  per
share.





Under the purchase method of accounting, the initial purchase
price is allocated to 2131059 s net tangible and assets based upon their
estimated fair values as of the date of the acquisition. The preliminary
purchase price allocation as of May 20, 2009 is as follows:





F-12




MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009




5.
              ACQUISITION
      OF 2131059 ONTARIO
LIMITED(cont’d)




At
      May 20, 2009Property
      under Development
                          
                          $
                          23,113,000Cash
      and Other Assets
                          
                          
                          3,500Accounts
      Receivable
                          
                          
                          130,000Total
      assets acquired
                          
                          
                          23,246,500Mortgages
      Payable
                          
                          
                          7,568,000Accounts
      Payable
                          
                          
                          289,500Total
      Liabilities acquired
                          
                          
                          7,857,500Net
      assets acquired
                          
                          
                          15,389,000Stock
      Issued to sellers [8,775,000@$1.7538 US}
                          
                          
                          15,389,000Net
      assets acquired
                          
                          $
                          15,389,000





The above
table comprises our supplemental disclosure of non-cash investing and financing
activities.





The
following table represents MoneyLogix proforma consolidated results of
operations as if the acquisition of 2131059 had occurred at the beginning of
each period presented. Such results have been prepared by adjusting the
historical MoneyLogix results to include 2131059 results of operations The
proforma results do not include any cost savings or additional sales that may
result from the combination of MoneyLogix and





2131059
operations. The proforma results may not necessarily reflect the consolidated
operations that would have existed had the acquisition been completed at the
beginning of such periods nor are they necessary indicative of future
results.





Three
      Months Ended
                  
                  
                  Six
      Months EndedJune
      30, 2009
                  
                  
                  June
      30, 2008
                  
                  
                  June
      30, 2009
                  
                  
                  June
      30, 2008Revenue
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -Total
      Operating Expenses
                  
                  $
                  563,080
                  
                  
                  $
                  23,814
                  
                  
                  $
                  565,330
                  
                  
                  $
                  23,814Net
      Loss
                  
                  $
                  (563,080
                  )
                  
                  $
                  (23,814
                  )
                  
                  $
                  (565,330
                  )
                  
                  $
                  (23,814
                  )Net
      Loss per share- basis and diluted
                  
                  $
                  (0.01
                  )
                  
                  $
                  -
                  
                  
                  $
                  (0.01
                  )
                  
                  $
                  -Weighted
      average number of shares-basis and diluted
                  
                  
                  89,583,586
                  
                  
                  
                  89,022,933
                  
                  
                  
                  89,583,586
                  
                  
                  
                  88,898,967





F-13




MONEYLOGIX
GROUP, INC.


[Formerly
Known as Homelife, Inc.]


(A
Development Stage Company)


NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


JUNE
30, 2009




6.
              MORTGAGE
      PAYABLE





June
      30, 2009
                      
                      
                      December
      31, 2008Mortgage
      notes payable (a)
                      
                      $
                      5,641,040
                      
                      
                      $
                      -Mortgage
      notes payable (b)
                      
                      
                      1,027,200
                      
                      
                      
                      -Mortgage
      notes payable (c)
                      
                      
                      684,800
                      
                      
                      
                      -Totals
                      
                      $
                      7,353,040
                      
                      
                      $
                      -


(a)
              Mortgage note payable to Firm
      Capital payable in monthly installments, bearing interest at a floating
      rate at the greater of 10.75% per annum or the Toronto Dominion Interest
      rate plus 4.00%.  The term is 1 year expiring October 1, 2009
      with $20,000 principal payments per month being calculated on a declining
      balance method.  This mortgage note is secured by a first
      mortgage interest in a real estate property inOntario,Canada.
 
 (b)
              Mortgage note payable to Sora
      Development Corp payable in monthly installments of interest only, at a
      rate at of 10% per annum.  The mortgage is currently month to
      month and has been guaranteed by an unrelated third party. This mortgage
      note is secured by a second mortgage interest in a   real
      estate property inOntario,Canada.
 
 (c)
              Mortgage note payable to C-1
      Holdings Inc. payable in monthly installments of interest only, at a rate
      at of 10% per annum.  The mortgage is currently month to month
      and has been guaranteed by an unrelated third party. This mortgage note is
      secured by a third mortgage interest in a   real estate
      property inOntario,Canada.
 
 7.
              ADVANCES FROM RELATED
      PARTY
 
 Amounts
due from a related party are non-interest bearing, due on demand and have no
fixed repayment terms.
 
 8.
              STOCK COMPENSATION
      LIABILITY
 
 The
Company has recorded stock compensation liability for its Company Management and
Officers in the amount of $408,000 for 800,000 shares in regards to their
employment agreements.  The shares will be issued in May
2010.
 
 F-14
 
 MONEYLOGIX
GROUP, INC.
 [Formerly
Known as Homelife, Inc.]
 (A
Development Stage Company)
 NOTES
TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 JUNE
30, 2009
 
 9.
              INCOME
      TAXES
 
 The
Company accounts for income taxes in accordance with SFAS No. 109. SFAS No. 109
prescribes the use of the liability method whereby deferred tax asset and
liability account balances are determined based on differences between the
financial reporting and tax bases of assets and liabilities and are measured
using the enacted tax rates. The effects of future changes in tax laws or rates
are not anticipated.
 
 Under
SFAS No. 109 income taxes are recognized for the following: a) amount of tax
payable for the current year, and b) deferred tax liabilities and assets for
future tax consequences of events that have been recognized differently in the
financial statements than for tax purposes.
 
 The
Company has income tax losses available to be applied against future years
income as a result of the losses incurred since inception. However, due to the
losses incurred in the period and expected future operating results, management
determined that it is more likely than not that the deferred tax asset resulting
from the tax losses available for carry forward will not be realized through the
reduction of future income tax payments. Accordingly a 100% valuation allowance
has been recorded for income tax losses available for carry
forward.
  10.
              CAPITAL
      STOCK
 
 a)
Authorized
 
 100,000
Class A Preferred shares of no par value, 6% non-cumulative dividend, voting,
convertible to common shares at the option of the shareholder at a price equal
to the face value of the Class A shares. Each Class A Preferred share carries
1,000 votes as compared with 1 vote for each Common share.  There were
no shares issued and outstanding at June 30, 2009 and December 31,
2008.
 
 100,000,000
Common shares of $0.001 par value
  Issued
 
 June
      30,
                                
                                
                                December
      31,2009
                                
                                
                                2008Shares
      Issued and Outstanding
                                
                                
                                89,538,586
                                
                                
                                
                                80,763,586$
                                89,539
                                
                                
                                $
                                80,764
  
 11.
                SUBSEQUENT
      EVENT
  Subsequent
to the quarter end, the company issued 5 million shares and took back a mortgage
in the amount of approximate $819,000
to cancel an obligation to issue 19,800,000 as discussed in Note 1, item
3




F-15