----

| Nevada                          |   | 13-3367421          |
|---------------------------------|--------|---------------------|
| (State or Other Jurisdiction of |   | (I.R.S. Employer    |
| Incorporation or Organization)  |   | Identification No.) |

| Large accelerated filer o | Accelerated filer o         |
|---------------------------|-----------------------------|
|                      |                        |
| Non-accelerated filer o   | Smaller reporting company x |

----

|                                                                               |              |
|------------------------------------------------------------------------------------|-------------------|
| Unaudited Condensed Consolidated Balance Sheets                                    | 1                 |
|                                                                               |              |
| Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income | 3                 |
|                                                                               |              |
| Unaudited Condensed Consolidated Statements of Cash Flows                          | 4                 |
|                                                                               |              |
| Unaudited Notes to Condensed Consolidated Financial Statements                     | 5 – 27 |

----

|                                              |                                                |                                      |                                                                                                    |                      |      | 30-Jun-10                                                                                               |                                  | 31-Dec-09                                                                                   |
|---------------------------------------------------|-----------------------------------------------------|-------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------|-----------|---------------------------------------------------------------------------------------------------------|---------------------------------------|---------------------------------------------------------------------------------------------|
| Current Assets                                    |                                                |                                      |                                                                                                    |                      |      |
|                                              | Cash                                                |                                      |                                                                                                    |                      | $         | 928,513                                                                                                 |                                  | $                                                                                           | 9,918 |
|                                              | Investments-Temporary                               |                                      |                                                                                                    | 248,728                   |      |                                                                                                    | 230,013                               |
|                                              | Accounts receivable (net of reserve for doubtful    |                                      | 5,054,688                                                                                               |                      |      | 2,816,849                                                                                               |
|                                              |                                                | accounts of $8,532 and $0, respectively)  |                                                                                                    |                      |      |                                                                                                    |                                  |
|                                              | Other current assets                                |                                      |                                                                                                    | 170,546                   |      |                                                                                                    | -                                     |
|                                              | Prepaid taxes                                       |                                      |                                                                                                    |                      | 162,838   |                                                                                                    |                                  |      162,838                                                       |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
|                                              |                                                | Total Current Assets                      |                                                                                                    |                      | 6,565,313 |                                                                                                    |                                  | 3,219,618                                                                                   |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
| Property, Plant and Equipment (net of accumulated |                                                |                                      |                                                                                                    |                      |      |
|                                              | depreciation of $132,281 and $34,914, respectively) |                                      | 21,828                                                                                                  |                      |      | 3,090                                                                                                   |
|                                              |                                                | Total Property, plant and equipment (net) |                                                                                                    | 21,828                    |      |                                                                                                    | 3,090                                 |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
| Other Assets                                      |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |
|                                              | Prepaid                                             |                                      |                                                                                                    |                      |      | 23,242                                                                                                  |                                  |                                                                                        | - |
|                                              | Deposits                                            |                                      |                                                                                                    |                      |      | 31,312                                                                                                  |                                  |                                                                                        | 10,433 |
|                                              | Goodwill                                            |                                      |                                                                                                    | 1,295,726                 |      |                                                                                                    | -                                     |
|                                              | Deferred tax assets                                 |                                      |                                                                                                    | 183,102                   |      |                                                                                                    |      212,323 |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
|                                              |                                                | Total Other Assets                        |                                                                                                    |                      | 1,533,382 |                                                                                                    |                                  | 222,756                                                                                     |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
|                                              |                                                |                                      |                                                                                                    | Total Assets              |      | $                                                                                                       | 8,120,523                             |                                                                                        | $ | 3,445,464 |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
| Liabilities and Stockholders' Equity              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |
|                                              | Current Liabilities                                 |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |
|                                              |                                                | Accounts payable and accrued expenses     | $                                                                                                       | 4,743,772                 |      | $                                                                                                       | 1,777,596                             |
|                                              |                                                | Loans payable - current portion           |                                                                                                    |                      | 9,915     |                                                                                                    |                                  |                - |
|                                              |                                                | Note payable - related party              |                                                                                                    |                      | 80,000    |                                                                                                    |                                  | 72,000                                                                                      |
|                                              |                                                | Other current liabilities                 |                                                                                                    |                      | 88,534    |                                                                                                    |                                  | -                                                                                           |
|                                              |                                                | Accrued liabilities - Kaire Holdings      |                                                                                                    | 237,045                   |      |                                                                                                    | 237,045                               |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
|                                              |                                                |                                      |                                                                                                    | Total Current Liabilities |      | 5,159,266                                                                                               |                                  |                                                                                        | 2,086,641 |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
|                                              |                                                |                                      |                                                                                                    |                      |      |                                                                                                    |                                  |                                                                                        |   |   |
|                                              | Commitments and contingencies                       |                                      |                  - |                      |      |                  - |

----

|          | Stockholders' Equity                       |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 |             |      |      |      |
|---------------------------------------------|--------------------------------------------|---------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------|-----------|-----------|-----------|
|                                        |                                       | Convertible preferred shares: $0.0001 par value, 50,000,000 shares                                            | 98                                                                                                                                                                                                                                                                                                                                                                                   |                       |      | 98        |
|                                        |                                       |                                                                                                          | authorized, 974,730 Series A issued and outstanding                                                                                                                                                                                                                                                                                                                                  |                       |      |      |      |   |
|                                        |                                       |                                                                                                          | 400,000 Series B issued and outstanding                                                                                                                                                                                                                                                                                                                                              |                       | 40        |      |      | - |
|                                        |                                       | Common stock: $0.001 par value, 900,000,000 shares authorized, 4,961,357 and 4,504,214 issued and outstanding |                                                                                                                                                                                                                                                                                                                                                                                 | 4,961                      |      |      | 4,504     |
|                                        |                                       |                                                                                                          |                                                             respectively |                       |      |      |      |   |
|                                        |                                       | Additional paid-in capital                                                                                    |                                                                                                                                                                                                                                                                                                                                                                                 |                       | 2,202,877 |      |      | 1,346,231 |
|                                        |                                       | Accumulated other comprehensive income                                                                        |                                                                                                                                                                                                                                                                                                                                                                                 | 99,091                     |      |      | 58,246    |
|                                        |                                       | Accumulated deficit                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                 |                       | (169,340) |      |      | (50,256) |
|                                        |                                       |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 |                       |      |      |      |   |   |   |
|                                        | Total IPLO Stockholders' Equity            |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 | 2,137,727                  |      |      | 1,358,823 |
|                                        |                                       |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 |                       |      |      |      |   |   |   |
|                                        |                                       |                                                                                                          | Non controlling interest                                                                                                                                                                                                                                                                                                                                                             |                       | 823,530   |      |      |                - |
|                                        |                                       |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 |                       |      |      |      |   |   |   |
|                                        |                                       |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 | Total Stockholders' Equity |      | 2,961,257 |      |   | 1,358,823 |
|                                        |                                       |                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                 |                       |      |      |      |   |   |   |
|                                        | Total Liabilities and Stockholders' Equity | $                                                                                                             | 8,120,523                                                                                                                                                                                                                                                                                                                                                                            |                       | $         | 3,445,464 |

----

|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          | Six Months Ended June 30,                                                                   |                                                                                        | Three Months Ended June 30,                                                                             |
|---------------------------------------------------------|-----------------------------------|---------------------------------------------------------|--------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          | 2010                                                                                        |                                                                                        | 2009                                                                                                    |   | 2010 |   | 2009 |
| Revenues                                                |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |
|                                                    | Packaging                         |                                                    | $                                                      | 11,392,526                                                                                                                                                                                                                                                    |                                                                                        | $                                                                                           | 6,603,869                                                                                               |   | $ | 6,511,344 |   | $ | 4,097,624 |
|                                                    | Logistics                         |                                                    |                                                   | 4,619,589                                                                                                                                                                                                                                                     |                                                                                        |                                                                                        |                  - |   |   | 2,615,169 |   |   |                  - |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Total Revenue                                          |                                                                                                                                                                                                                                                          | 16,012,115                                                                                  |                                                                                        |                                                                                                    | 6,603,869 |   |   | 9,126,513 |   |   | 4,097,624 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Cost of Goods Sold                                      |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |
|                                                    | Packaging                         |                                                    |                                                   | 10,916,442                                                                                                                                                                                                                                                    |                                                                                        |                                                                                        | 6,190,357                                                                                               |   |   | 6,336,205 |   |   | 3,798,801 |
|                                                    | Logistics                         |                                                    |                                                   | 4,065,340                                                                                                                                                                                                                                                     |                                                                                        |                                                                                        |                -             |   |   | 2,330,158 |   |   |   |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Total Cost of Goods Sold                               |                                                                                                                                                                                                                                                          | 14,981,782                                                                                  |                                                                                        |                                                                                                    | 6,190,357 |   |   | 8,666,363 |   |   | 3,798,801 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Gross Profit                                           |                                                                                                                                                                                                                                                          |                                                                                        | 1,030,333                                                                                   |                                                                                                    |   | 413,512 |   |   | 460,150 |   |   | 298,823 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Operating Expenses                                      |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |
|                                                    | Administrative expenses           |                                                    | 483,306                                                |                                                                                                                                                                                                                                                          |                                                                                        | 212,920                                                                                     |                                                                                                    |   | 283,074 |   |   | 102,494 |
|                                                    | Rent                              |                                                    |                                                   | 84,505                                                                                                                                                                                                                                                        |                                                                                        |                                                                                        | 24,323                                                                                                  |   |   | 42,539 |   |   | 12,398 |
|                                                    | Salaries and wages                |                                                    | 561,363                                                |                                                                                                                                                                                                                                                          |                                                                                        | 267,034                                                                                     |                                                                                                    |   | 283,444 |   |   | 105,147 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              | Total Operating Expenses                                |                                                   | 1,129,174                                                                                                                                                                                                                                                     |                                                                                        |                                                                                        | 504,277                                                                                                 |   |   | 609,057 |   |   | 220,039 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Income (loss) from Operations                          |                                                                                                                                                                                                                                                          | (98,841)                                                                                    |                                                                                        |                                                                                                    | (90,765) |   |   | (148,907) |   |   | 78,784 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Other Income                                            |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |
|                                                    | Interest income (expense)         |                                                    | 502                                                    |                                                                                                                                                                                                                                                          |                                                                                        | 696                                                                                         |                                                                                                    |   | 99 |   |   | 145 |
|                                                    | Other income                      |                                                    |                                                   | 962                                                                                                                                                                                                                                                           |                                                                                        |                                                                                        |                -             |   |   | 912 |   |   |                - |
|                                                    | Rent Income                       |                                                    |                                                   | 2,689                                                                                                                                                                                                                                                         |                                                                                        |                                                                                        |                -             |   |   | 1,794 |   |   |                - |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              | Total Other Income                                      |                                                   | 4,153                                                                                                                                                                                                                                                         |                                                                                        |                                                                                        | 696                                                                                                     |   |   | 2,805 |   |   | 145 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Net Income (Loss) before Income Taxes                  |                                                                                                                                                                                                                                                          | (94,688)                                                                                    |                                                                                        |                                                                                                    | (90,069) |   |   | (146,102) |   |   | 78,929 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Income tax (expense) benefit                            |                              | (24,392)                                                |                                                   |                                                                                                                                                                                                                                                          | 30,623                                                                                      |                                                                                        |                                                                                                    |                - |   |   | (26,836) |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Net Income (Loss) available to common                  |                                                                                                                                                                                                                                                          | (119,080)                                                                                   |                                                                                        |                                                                                                    | (59,446) |   |   | (146,102) |   |   | 52,093 |
|                                                    |                              |                                                    | shareholder                                            |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Less: Net loss attributable to non controlling interest |                              |         (1,856) |                                                   |                                                                                                                                                                                                                                                          |                - |                                                                                        |                                                                                                    | 304 |   |   |                - |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Net Income (Loss) attributable to IPLO                  |                              | (120,936)                                               |                                                   |                                                                                                                                                                                                                                                          | (59,446)                                                                                    |                                                                                        |                                                                                                    | (145,798) |   |   | 52,093 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Comprehensive Income                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |
|                                                    | Unrealized gain on investments    |                                                    |         18,715 |                                                                                                                                                                                                                                                          |                                                                                        | 15,742                                                                                      |                                                                                                    |   | 18,715 |   |   |                - |
|                                                    | Gains (loss) on currency exchange |                                                    |         20,041 |                                                                                                                                                                                                                                                          |                                                                                        |                - |                                                                                                    |   | 10,113 |   |   |                - |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
|                                                    |                              |                                                    | Comprehensive Income/(Loss)                            | $                                                                                                                                                                                                                                                             | (80,324)                                                                                    |                                                                                        | $                                                                                                       | (43,704) |   | $ | (117,274) |   | $ | 52,093 |
|                                                    |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |   |   |   |   |   |
| Earnings per weighted average share of common stock -   |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |
|                                                    |                              |                                                    |                                                   |                                          basic   | $                                                                                           | (0.02)                                                                                      |                                                                                                    | $ | (0.01) |   | $ | (0.03) |   | $ | 0.01 |
| Earnings per weighted average share of common stock -   |                              |                                                    |                                                   |                                                                                                                                                                                                                                                          |                                                                                        |                                                                                        |                                                                                                    |   |   |   |
|                                                    |                              |                                                    |                                                   |                                          diluted | $                                                                                           | (0.02)                                                                                      |                                                                                                    | $ | (0.01) |   | $ | (0.03) |   | $ | 0.01 |
| Weighted average shares outstanding - basic             |                              |    4,961,357                             |                                                   |                                                                                                                                                                                                                                                          | 4,504,214                                                                                   |                                                                                        |                                                                                                    |   4,961,357 |   |   | 4,504,214 |
| Weighted average shares outstanding - diluted           |                              |    4,961,357                             |                                                   |                                                                                                                                                                                                                                                          | 4,504,214                                                                                   |                                                                                        |                                                                                                    |   4,961,357 |   |   | 5,478,944 |

----

|                                              |                                                   |                                                         |      |                                                                                             |                                                                                                    | June 30, |                                                                                                    |                                                                                                    | June 30, |
|---------------------------------------------------|--------------------------------------------------------|--------------------------------------------------------------|-----------|--------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|----------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|----------|
|                                              |                                                   |                                                         |      |                                                                                             | 2010                                                                                                    |     | 2009                                                                                                    |
| Increase (decrease) in cash and cash equivalents: |                                                   |                                                         |      |                                                                                             |                                                                                                    |
|                                              | Net loss                                               | $                                                            | (119,080) |                                                                                             | $                                                                                                       | (59,446) |
|                                              | Adjustments to reconcile net loss to net cash provided |                                                         |      |                                                                                             |                                                                                                    |     |
|                                              |                                                   | by operating activities:                                     |      |                                                                                             |                                                                                                    |     |                                                                                                    |
|                                              |                                                   | Depreciation expense                                         |      |                                                                                             | 3,877                                                                                                   |     |                                                                                                    | 2,183                                                                                                   |
|                                              |                                                   | Bad debt                                                     |      |                                                                                             | 5,833                                                                                                   |     |                                                                                                    |                  - |
|                                              | Changes in operating assets and liabilities:           |                                                         |      |                                                                                             |                                                                                                    |     |
|                                              |                                                   | (Increase) decrease in accounts receivable                   |      | (1,696,313)                                                                                      |                                                                                                    |     | 2,039,338                                                                                               |
|                                              |                                                   | Decrease in other current assets                             |      |                                                                                             |              6,839                     |     |                                                                                                    |                  - |
|                                              |                                                   | Decrease in income tax refund receivable                     |      |                                                                                             |                  - |     |                                                                                                    | 25,091                                                                                                  |
|                                              |                                                   | Increase in prepaid taxes                                    |      |                                                                                             |                  - |     |                                                                                                    | (154,740)                                                                                               |
|                                              |                                                   | Decrease in deposits                                         |      |                                                                                             |                  - |     |                                                                                                    | 6,495                                                                                                   |
|                                              |                                                   | (Increase) decrease in deferred tax asset                    |      |                                                                                             | 29,221                                                                                                  |     |                                                                                                    | (30,623)                                                                                                |
|                                              |                                                   | Decrease in income taxes payable                             |      |                                                                                             |                  - |     |                                                                                                    | (93,260)                                                                                                |
|                                              |                                                   | Increase in other current liabilities                        |      |                                                                                             | 50,931                                                                                                  |     |                                                                                                    |                  - |
|                                              |                                                   | (Decrease) increase in accounts payable and accrued expenses |      | 2,425,718                                                                                        |                                                                                                    |     | (1,390,596)                                                                                             |
|                                              | Net cash provided by operating activities              |                                                         |      | 707,026                                                                                          |                                                                                                    |     | 344,442                                                                                                 |
|                                              |                                                   |                                                         |      |                                                                                             |                                                                                                    |     |                                                                                                    |                                                                                                    |     |
| Cash flow from investing activities:              |                                                   |                                                         |      |                                                                                             |                                                                                                    |
|                                              |                                                   | Cash acquired in acquisition of subsidiary                   |      |                                                                                             | 297,001                                                                                                 |     |                                                                                                    |                  - |
|                                              | Net cash provided by in investing activities           |                                                         |      | 297,001                                                                                          |                                                                                                    |     |                  - |
|                                              |                                                   |                                                         |      |                                                                                             |                                                                                                    |     |                                                                                                    |                                                                                                    |     |
| Cash flow from financing activities:              |                                                   |                                                         |      |                                                                                             |                                                                                                    |
|                                              |                                                   | Proceeds from related party                                  |      |                                                                                             | 8,000                                                                                                   |     |                                                                                                    |                  - |
|                                              |                                                   | Payment on loan payable                                      |      |                                                                                             | (113,129)                                                                                               |     |                                                                                                    |                  - |
|                                              | Net cash used in financing activities                  |                                                         |      |         (105,129)                                        |                                                                                                    |     |                  - |
|                                              |                                                   |                                                         |      |                                                                                             |                                                                                                    |     |                                                                                                    |                                                                                                    |     |
|                                              | Effect of currency translation                         |                                                         |      |                19,697 |                                                                                                    |     |                  - |
|                                              |                                                   |                                                         |      |                                                                                             |                                                                                                    |     |                                                                                                    |                                                                                                    |     |
|                                              | Net increase (decrease) in cash and cash equivalents   |                                                         |      | 918,595                                                                                          |                                                                                                    |     | 344,442                                                                                                 |
|                                              | Cash and cash equivalents at beginning of period       |                                                         |      | 9,918                                                                                            |                                                                                                    |     | 64,967                                                                                                  |
|                                              | Cash and cash equivalents at end of period             |                                                         | $         | 928,513                                                                                          |                                                                                                    | $        | 409,409                                                                                                 |

| Supplementary disclosures of cash flow information |                          |     |   |                                                                                                    |   |
|----------------------------------------------------|-------------------------------|----------|--------|---------------------------------------------------------------------------------------------------------|--------|
|                                               | Cash paid during the year for |     |   |                                                                                                    |   |   |
|                                               |                          | Interest | $      |                  - |   | $ |                  - |
|                                               |                          | Taxes    | $      |                  - |   | $ | 248,000 |
|                                               |                          |     |   |                                                                                                    |   |   |   |   |   |

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|   | • | Level 1—Valuations based on quoted prices in active markets for identical assets.  Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. |
|--------|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | Level 2—Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, directly or indirectly.  Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| •   | Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. |
|---------------------|----------------------------------------------------------------------------------------------------------------------------|

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|                          | 2010   |      | 2009   |
|-------------------------------|--------|-----------|--------|
| Furniture and fixtures        | $      | 14,552    |   | $ | 14,552 |
| Computers and equipment       |   | 139,557   |   |   | 23,452 |
|                          |   | 154,109   |   |   | 38,004 |
| Less accumulated depreciation |   | (132,281) |   |   | (34,914) |
|                          | Total  | $         | 21,828 |   | $ | 3,090 |

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| Year ended December 31,     |   |    |
|-----------------------------|--------|---------|
| 2010 (remaining six months) | $      | 89,479  |
| 2011                        |   | 107,483 |
| 2012                        |   | 111,245 |
| 2013                        |   | 75,874  |
|                        | $      | 384,081 |

|                                                                           | For the Three Months Ended June 30, |
|--------------------------------------------------------------------------------|-------------------------------------|
|                                                                           | 2010                                |   | 2009 |
| BASIC EARNINGS PER SHARE OF COMMON STOCK:                                      |                                |   |   |   |   |
| Net earnings(loss) available to common stockholders                            | $                                   | (146,102)  |   | $ | 52,093 |
|                                                                           |                                |   |   |   |   |
| Weighted average common shares outstanding                                     |                                | 4,961,357 |   |   | 4,504,214 |
| Basic earnings per share of common stock                                       | $                                   | (0.03) |   | $ | 0.01 |
|                                                                           |                                |   |   |   |   |
| DILUTED EARNINGS PER SHARE OF COMMON STOCK:                                    |                                |   |   |   |   |
| Net earnings available to common stockholders                                  | $                                   |  (146,102) |   | $ | 52,093 |
|                                                                           |                                |   |   |   |   |
| Weighted average common shares outstanding                                     |                                | 4,961,357 |   |   | 4,504,214 |
| Effect of dilutive securities:                                                 |                                |   |   |   |   |
|                                                                           | Options                             |   | - |   |   | - |
|                                                                           | Convertible preferred stock         |   | - |   |   | 974,730 |
| Weighted average common shares outstanding after effect of dilutive securities |                                | 4,961,357 |   |   | 5,478,944 |
|                                                                           |                                |   |   |   |   |
| Diluted earnings per share of common stock                                     | $                                   | (0.03) |   | $ | 0.01 |

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|                                                                           | For the Six Months Ended June, |
|--------------------------------------------------------------------------------|--------------------------------|
|                                                                           | 2010                           |   | 2009 |
| BASIC EARNINGS PER SHARE OF COMMON STOCK:                                      |                           |   |   |   |   |
| Net earnings (loss) available to common stockholders                           | $                              |  (119,080) |   | $ |  (59,446) |
|                                                                           |                           |   |   |   |   |
| Weighted average common shares outstanding                                     |                           | 4,961,357 |   |   | 4,504,214 |
|                                                                           |                           |   |   |   |   |
| Basic earnings/(loss) per share of common stock                                | $                              | (0.02) |   | $ | (0.01) |
|                                                                           |                           |   |   |   |   |
| DILUTED EARNINGS PER SHARE OF COMMON STOCK:                                    |                           |   |   |   |   |
| Net earnings (loss) available to common stockholders                           | $                              |  (119,080) |   | $ |  (59,446) |
|                                                                           |                           |   |   |   |   |
| Weighted average common shares outstanding                                     |                           | 4,961,357 |   |   | 4,504,214 |
| Effect of dilutive securities:                                                 |                           |   |   |   |   |
|                                                                           | Options                        |   | - |   |   | - |
|                                                                           | Convertible preferred stock    |   | - |   |   | - |
| Weighted average common shares outstanding after effect of dilutive securities |                           | 4,961,357 |   |   | 4,504,214 |
|                                                                           |                           |   |   |   |   |
| Diluted earnings/(loss) per share of common stock                              | $                              | (0.02) |   | $ | (0.01) |

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| Cash and cash equivalents              |                              |    | $297,001   |
|----------------------------------------|-----------------------------------|---------|------------|
| Accounts receivable                    |                              |    | 547,295    |
| Other current assets                   |                              |    | 173,714    |
| Property and Equipment                 |                              |    | 22,478     |
| Deposits                               |                              |    |       |   | 18,654 |
| Prepaid expenses                       |                              |    | 26,913     |
|                                   |                              |    |       |   |   |
|                                   | Total Assets                      |    |       | 1,086,055 |
|                                   |                              |    |       |   |   |
| Accounts payable and accrued expenses  |                              | 540,461 |
| Other current liabilities              |                              |    |       | 37,603 |
| Notes payable                          |                              |    |       | 123,044 |
|                                   | Total Liabilities                 |    |       | 701,108 |
| Goodwill                               |                              |    |       |   | 1,295,726 |
|                                   | Net Assets Acquired               |    | $1,680,673 |
|                                   |                              |    |       |   |
| Fair value of common stock             |                              |    |       | $457,143 |
| Fair value of Series B preferred stock |                              |    |       | 400,000 |
| Fair value of non controlling interest |                              |    |       | 823,530 |
|                                   | Fair value of Net Assets Acquired |    |       | $1,680,673 |

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|                                                      |   |         |   |    |         | June 30, 2009 |   |        | June 30, 2009 |
|-----------------------------------------------------------|--------|--------------|--------|---------|--------------|---------------|--------|-------------|---------------|
|                                                      |   |         |   |    |         | Three months  |   |        | Six months    |
|                                                      |   |         |   |    |         |          |   |        |          |
| Revenues                                                  |   |         |   |    | $            | 6,002,525     |   | $           | 10,355,141    |
| Cost of goods sold                                        |   |         |   |    | (5,427,276)  |          |   | (9,309,310) |
| Gross Profit                                              |   |         |   |    | 575,249      |          |   | 1,045,831   |
| Operating Expenses                                        |   |         |   |    | 463,735      |          |   | 1,039,410   |
| Net income from operations                                |   |         |   | 111,514 |         |          | 6,421  |
| Net income  attributable to shareholders’ |   |  72,054 |   |    |  45,624 |
| Income attributable to non-controlling interest           |   | (65,591)     |   |    | (108,257)    |
| Income/(loss) attributable to IPLO                        |   | 6,463        |   |    | (62,633)     |
| Other comprehensive income                                |   | 113,899      |   |    | 131,605      |
| Comprehensive income                                      |   | 185,953      |   |    | 177,229      |
|                                                      |   |         |   |    |         |          |   |        |
| Net income per share - basic                              | $      | 0.02         |   | $       | 0.01         |
| Net income per share - diluted                            |   | 0.01         |   |    | 0.01         |
| Shares used in calculation (basic)                        |   | 4,504,214    |   |    | 4,504,214    |
| Shares used in calculation (diluted)                      |   | 5,478,944    |   |    | 5,478,944    |

|                    |   |            |   | Packaging       |           |   | Logistics       |            |   | Total           |
|-------------------------|--------|-----------------|--------|-----------------|----------------|--------|-----------------|-----------------|--------|-----------------|
|                    |   |            |   |            |           |   |            |            |   |            |
| Revenue                 |   |            | $      | 6,511,761       |           | $      | 2,615,169       |            | $      | 9,126,930       |
| Operating Income (Loss) |   |  (135,383) |   |            |  (13,524) |   |            |  (148,907) |
| Total Assets            |   |            |   |  6,792,973 |           |   |  1.327,550 |            |   |  8,120,525 |
| Interest Income         |   |            | 13     |            |           | 86     |            |            | 99     |
| Depreciation            |   | $               | 854    |            | $              | 307    |            | $               | 1,161  |

----

|            |   |   |           | Packaging       |   |           | Logistics |   |           | Total           |
|-----------------|--------|--------|----------------|-----------------|--------|----------------|-----------|--------|----------------|-----------------|
|            |   |   |           |            |   |           |      |   |           |            |
| Revenue         |   |   | $              | 11,392,943      |   | $              | 4,619,589 |   | $              | 16,012,532      |
| Operating Loss  |   |   |  (78,848) |            |   |  (19,993) |      |   |  (98,841) |
| Total Assets    |   |   |           |  6,792,973 |   |           | 1,327,550 |   |           |  8,120,525 |
| Interest Income |   |   | 416            |            |   | 86             |      |   | 502            |
| Depreciation    |   | $      | 1,708          |            | $      | 2,169          |      | $      | 3,877          |

----

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|   | · Continue growing revenue and profits through the existing business;                                                                                                                                                                   |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | · Meet the challenge of the declining world economy while maintaining revenue and profitability - our goal will be to  focus closely on product mix, improve our gross margin and develop new projects with existing clients; |
|   | · Expand the supply network for our products;                                                                                                                                                                                           |
|   | · Expand our current business model to include other areas that fall within our distribution expertise such as packaging that uses plastic and acrylic material.                                                                        |
|   | · Integrate our new logistics business into our overall plan                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                              |

|   | · Expand our service into other areas such as Europe and Australia through the same supplier channel.  Our existing business model copies to other markets naturally. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | · Expand the client base and areas of service of our logistics business.                                                                                                        |

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| Three months ending:           | 6/30/2009 |   | 6/30/2010 |   | $ VAR    |   | % VAR  |                                                                 |   |   |
|--------------------------------|-----------|--------|-----------|--------|----------|--------|--------|----------------------------------------------------------------------|--------|--------|
| Salaries & Related Expense | $105,147  |   | $260,532  |   | $155,385 |   | 147.8% | Acquired EZ Link expense of $102,494                                 |
| Employee Welfare               | -         |   | 16,029    |   | 16,029   |   | 100.0% | Acquired EZ Link expense of $16,029                                  |
| Retirement expense             | -         |   | 6,883     |   | 6,883    |   | 100.0% | Acquired EZ Link expense of $6,883                                   |   |
| Rent                           | 12,398    |   | 42,539    |   | 30,141   |   | 243.1% | New lease had negotiated rated credits in 2009                       |
|                           |      |   |      |   |     |   |   |      plus $17,503 in acquired EZ Link lease |
| Travel Expense                 | 34,688    |   | 98,312    |   | 63,624   |   | 183.4% | Increased travel in 2010                                             |
| Misc Other                     | 67,663    |   | 184,762   |   | 117,099  |   | 173.1% | Miscellaneous other items includes acquired EZ Link                  |
|                           |      |   |      |   |     |   |   | as follows: 1) Ins. Premiums $12,323, entertainment                  |
|                           |      |   |      |   |     |   |   | of $14,332, postage/tele of $6,877 and other of $32,053              |
|                           |      |   |      |   |     |   |   |                                                                 |   |   |
| Total Expenses                 | $219,896  |   | $609,057  |   | $389,161 |   | 176.8% |                                                                 |   |   |

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| Six months ending:             | 6/30/2009 |   | 6/30/2010  |   | $ VAR    |   | % VAR  |                                                                             |   |   |
|--------------------------------|-----------|--------|------------|--------|----------|--------|--------|----------------------------------------------------------------------------------|--------|--------|
| Salaries & Related Expense | $267,034  |   | $561,363   |   | $294,329 |   | 110.2% | Increase in Salary Bonus paid & salary higher in 2009                        |
|                           |      |   |       |   |     |   |   |      plus $165,832 in acquired EZ Link salary expense   |
| Rent                           | 24,323    |   | 84,503     |   | 60,180   |   | 247.4% | New lease had negotiated rated credits in 2009                                   |
|                           |      |   |       |   |     |   |   |      plus $33,575 in acquired EZ Link lease             |
| Insurance                      | 57,162    |   | 64,744     |   | 7,582    |   | 13.3%  | Insurance based on prior year revenue which was lower                            |
|                           |      |   |       |   |     |   |   |      plus $24,771 in acquires EZ Link insurance expense |
| Entertainment                  | 4,539     |   | 28,977     |   | 24,438   |   | 538.4% | Acquired EZ Link expense of $28,637                                              |
| Travel Expense                 | 72,807    |   | 148,186    |   | 75,379   |   | 103.5% | Increased travel in 2010                                                         |
| Misc Other                     | 78,412    |   | 241,401    |   | 162,989  |   | 207.9% | Miscellaneous other items includes acquired EZ Link                              |
|                           |      |   |       |   |     |   |   | as follows: Postage/tele $13,574, meal expense $10,913,                          |
|                           |      |   |       |   |     |   |   | employee welfare $19,885, and other expenses $53,393                             |
| Total Expenses                 | $504,277  |   | $1,129,174 |   | $624,897 |   | 123.9% |                                                                             |   |   |

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|   | 1. | Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;                                                                                                                                            |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 2. | Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. GAAP, and that our receipts and expenditures are being made only in accordance with the authorization of our management and directors; and |

|   |   |   |
|--------|--------|--------|
|   |   |   |
|   |   |   |
|   | · | We lack an effective period-end financial statement reconciliation process to transition from Taiwan Accounting Standards to U.S. Generally Accepted Accounting Principles (“GAAP”). |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We lack formal guidance or checklist of procedures to facilitate the reconciliation of the financial statements reported under Taiwan accounting standards to GAAP. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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