---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-QSB

[X] Quarterly Report Under Section 13 or 15(d) of the
Securities Exchange Act of 1934

for the quarterly period ended February 29, 2008

[   ] Transition Report Under Section 13 or 15(d) of
the Securities Exchange Act of 1934

for the transition period from _____ to _____

Commission File Number: 000-52201

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

|NEVADA                                           | 26-0881302                       
|------------------------------------------------ | ---------------------------------
|(State or other jurisdiction of incorporation or | (IRS Employer Identification No.)
|organization)                                    |                                  

Sunny Palace Suite, Xibahe Road, Chaoyang District, Beijing
100028Peoples Republic of China(Address of
principal executive offices)

+8613439671941Issuer's telephone
number

Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 12 months
(or for such shorter period that the registrant was required to file such
reports), 
  and (2) has been subject to such filing requirements for the past 90 days. Yes
  [X] No[   ]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act). Yes [   ] 
 No[X]

State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date. 124,930,223
shares of common stock as of March 28, 2008.

Transitional Small Business Disclosure Format (check one): Yes
[   ]   No[X]

---

ITONIS INC.

Quarterly Report On Form 10-QSB For The Quarterly Period
Ended February 29, 2008

INDEX

|REFERENCES                     | ii     
|------------------------------ | -------
|PART I  FINANCIAL INFORMATION | 1      
|                               | Item 2.
|                               | Item 3.
|PART II  OTHER INFORMATION    | 10     
|                               | Item 1.
|                               | Item 2.
|                               | Item 3.
|                               | Item 4.
|                               | Item 5.
|                               | Item 6.

(i)

---

FORWARD-LOOKING STATEMENTS

This quarterly report on Form 10-QSB contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements involve risks and uncertainties, including
statements regarding our capital needs, business plans and expectations.
Forward-looking statements are made, without limitation, in relation to our
operating plans, our liquidity and financial condition, availability of funds,
operating costs and the market in which we compete. Any statements contained
herein that are not statements of historical facts may be deemed to be
forward-looking statements. In some cases, you can identify forward-looking
statements by terminology such as may, will, should, expect, plan,
intend, anticipate, believe, estimate, predict, potential or
continue, the negative of such terms or other comparable terminology. Actual
events or results may differ materially. In evaluating these statements, you
should consider various factors, including the risks outlined in this our annual
report on Form 10-KSB for the year ended November 30, 2007 that we filed with
the SEC under the section entitled Risk Factors, and in other reports we file
with the SEC. These factors may cause our actual results to differ materially
from any forward-looking statement. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements.

REFERENCES

As used in this quarterly report: (i) the terms we, us,
our, ITonis and the Company mean ITonis Inc and its subsidiaries, unless
the context requires otherwise; (ii) SEC refers to the Securities and Exchange
Commission; (iii) Securities Act refers to the United States Securities Act
of 1933, as amended; (iv) Exchange Act refers to the United States
Securities Exchange Act of 1934, as amended; and (v) all dollar amounts
refer to United States dollars unless otherwise indicated.

- ii -

---

PART I  FINANCIAL INFORMATION

The following unaudited condensed consolidated interim
financial statements of ITonis Inc. (the Company) are included in this
Quarterly Report on Form 10-QSB:

|                                                                                                                                                                                                      | Page
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----
|                                                                                                                                                                                                      |     
|Interim
      Consolidated Balance Sheets as at February 29, 2008 (unaudited) and
      November 30, 2007 (audited)                                                                                   | F-2 
|                                                                                                                                                                                                      |     
|Interim
      Consolidated Statements of Changes in Stockholders Equity (Deficiency)
      for the period from incorporation (July 5, 2005) to February 29, 2008
      (Unaudited)                   | F-3 
|                                                                                                                                                                                                      |     
|Interim Consolidated Statements of Operations for the three
      months ended February 29, 2008 and 2007 and for the period from incorporation
      (July 5, 2005) to February 29, 2008 (Unaudited) | F-6 
|                                                                                                                                                                                                      |     
|Interim Consolidated Statements of Cash Flows for the three
      months ended February 29, 2008 and 2007 and for the period from incorporation
      (July 5, 2005) to February 29, 2008 (Unaudited) | F-7 
|                                                                                                                                                                                                      |     
|Notes to Interim Consolidated Financial Statements                                                                                                                                                    | F-8 

- 1 -

---



ITONIS INC.

(Formerly Kenshou Inc.)

(A Development Stage Company)

Interim CONSOLIDATED FINANCIAL STATEMENTS 
  Unaudited

February 29, 2008

US FUNDS



F-1

---

|ITonis Inc.                         | Statement 1
|----------------------------------- | -----------
|(Formerly Kenshou Inc.)             |            
|(A Development Stage Company)       |            
|Interim Consolidated Balance Sheets |            
|US Funds                            |            

|                                                        |   | As at        |  |   | As at        | 
|------------------------------------------------------- | - | ------------ |  | - | ------------ | 
|                                                        |   | February 29, |  |   | November 30, | 
|                                                        |   | 2008         |  |   | 2007         | 
|ASSETS                                                  |   | (Unaudited)  |  |   | (Audited)    | 
|Current                                                 |   |              |  |   |              | 
|Cash                                                    | $ | 131,787      |  | $ | 4,306        | 
|Accounts receivable                                     |   | 2,896        |  |   | -            | 
|Prepaid expenses                                        |   | -            |  |   | 654          | 
|Advance to Pilot Media Joint Venture                    |   | 150,000      |  |   | -            | 
|                                                        |   | 284,683      |  |   | 4,960        | 
|                                                        |   |              |  |   |              | 
|Contract Rights                                         |   | 806,919      |  |   | -            | 
|Equipment                                               |   | 18,273       |  |   | 19,929       | 
|                                                        | $ | 1,109,875    |  | $ | 24,889       | 
|                                                        |   |              |  |   |              | 
|LIABILITIES                                             |   |              |  |   |              | 
|Current                                                 |   |              |  |   |              | 
|Accounts payable                                        | $ | 729,009      |  | $ | 793,052      | 
|Accrued liabilities                                     |   | 83,388       |  |   | 103,927      | 
|Due to Beijing Tuo Jiang
      Culture Development Ltd. |   | 150,000      |  |   | -            | 
|Due to related parties                                  |   | 214,546      |  |   | 209,195      | 
|                                                        |   | 1,176,943    |  |   | 1,106,174    | 

Going Concern (Note 1) Commitments (Note 5)

|STOCKHOLDERS DEFICIENCY                                |       |               |   |   |            |  
|------------------------------------------------------- | ----- | ------------- | - | - | ---------- | -
|Capital Stock                                           |       |               |   |   |            |  
|Preferred stock                                         |       |               |   |   |            |  
|Authorized:                                             |       |               |   |   |            |  
|5,000,000 preferred shares with $0.001 par value        |       |               |   |   |            |  
|Issued and fully paid: Nil                              |       | -             |   |   | -          |  
|Common stock                                            |       |               |   |   |            |  
|Authorized:                                             |       |               |   |   |            |  
|300,000,000
      common shares with $0.001 par value   |       |               |   |   |            |  
|Issued, allotted and fully
      paid:                  |       |               |   |   |            |  
|111,130,223 common shares (73,111,853                  |       |               |   |   |            |  
|November
      30, 2007)                                |       | 111,130       |   |   | 73,112     |  
|Share subscriptions
      received                      |       | 62,500        |   |   | 282,500    |  
|Deposit on acquisition 
      common stock             |       | (50,000       | ) |   | -          |  
|Additional
      paid-in capital                        |       | 4,649,535     |   |   | 2,935,634  |  
|Accumulated Comprehensive Loss                          |       | (156,330      | ) |   | (105,449   | )
|Deficit Accumulated during the
      development stage |       | (4,683,903    | ) |   | (4,267,082 | )
|                                                        |       | (67,068       | ) |   | (1,081,285 | )
|                                                        | **$** | **1,109,875** |   | $ | 24,889     |  

- See Accompanying Notes -

F-2

---

|ITonis Inc.                                                                    | Statement 2
|------------------------------------------------------------------------------ | -----------
|(Formerly Kenshou Inc.)                                                        |            
|(A Development Stage Company)                                                  |            
|Interim Consolidated Statements of Stockholders
      **Equity (Deficiency)** |            
|US Funds                                                                       |            

|                    |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   | Deficit       |   |   |            |  
|------------------- | ------------------ |  | - | ------- |  | - | ------------- | - | - | -------- |  | - | ------------- |  | - | ----------- | - | - | ------------- | - | - | ---------- | -
|                    |                    |  |   |         |  |   |               |   |   |          |  |   | Deposit on    |  |   |             |   |   | Accumulated   |   |   |            |  
|                    |                    |  |   |         |  |   | Additional    |   |   | Share    |  |   | Acquisition   |  |   | Accumulated |   |   | During the    |   |   | Total      |  
|                    | Common
      Stock |  |   | Paid-in |  |   | Subscriptions |   |   | - Common |  |   | Comprehensive |  |   | Development |   |   | Stockholders |  
|                    | Shares             |  |   | Amount  |  |   | Capital       |   |   | Received |  |   | Stock         |  |   | Loss        |   |   | Stage         |   |   | Deficiency |  
|Founder shares      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|issued for cash     |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|at $0.001 per       |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|share on July 8,    |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2005                | 750,000            |  | $ | 750     |  | $ | (250          | ) | $ | -        |  | $ | -             |  | $ | -           |   | $ | -             |   | $ | 500        |  
|Shares issued for   |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.007      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share on        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|September 14,       |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2005                | 12,000,000         |  |   | 12,000  |  |   | 68,000        |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 80,000     |  
|Shares issued for   |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.033      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share on        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|November 16,        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2005                | 4,466,289          |  |   | 4,466   |  |   | 144,410       |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 148,876    |  
|Shares issued for   |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|acquisition of      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|software at         |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|$0.015 per          |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|share on            |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|November 16,        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2005                | 30,000,000         |  |   | 30,000  |  |   | 417,637       |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 447,637    |  
|                    |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|Loss for the period | -                  |  |   | -       |  |   | -             |   |   | -        |  |   | -             |  |   | -           |   |   | (566,478      | ) |   | (566,478   | )
|                    |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|Balance -           |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|November 30,        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2005                | 47,216,289         |  |   | 47,216  |  |   | 629,797       |   |   | -        |  |   | -             |  |   | -           |   |   | (566,478      | ) |   | 110,535    |  
|Shares issued for   |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|acquisition of      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|intellectual        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|property at         |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|$0.083 per          |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|share on            |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|February 7,         |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2006                | 18,000,000         |  |   | 18,000  |  |   | 1,482,000     |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 1,500,000  |  
|Shares issued for   |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.083      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share on        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|April 10, 2006      | 2,215,692          |  |   | 2,216   |  |   | 182,425       |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 184,641    |  
|Share issued for    |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|consulting          |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|services at         |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|$0.083 per          |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|share               | 150,000            |  |   | 150     |  |   | 12,350        |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 12,500     |  
|Shares issued for   |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.083      |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share           | 1,200,000          |  |   | 1,200   |  |   | 98,800        |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 100,000    |  
|Stock-based         |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|compensation        | -                  |  |   | -       |  |   | 9,014         |   |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 9,014      |  
|Loss for the period | -                  |  |   | -       |  |   | -             |   |   | -        |  |   | -             |  |   | -           |   |   | (2,302,278    | ) |   | (2,302,278 | )
|Foreign currency    |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|translation         |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|adjustment          | -                  |  |   | -       |  |   | -             |   |   | -        |  |   | -             |  |   | (9,420      | ) |   | -             |   |   | (9,420     | )
|Balance            |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|November 30,        |                    |  |   |         |  |   |               |   |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2006                | 68,781,981         |  |   | 68,782  |  |   | 2,414,386     |   |   | -        |  |   | -             |  |   | (9,420      | ) |   | (2,868,756    | ) |   | (395,008   | )

- See Accompanying Notes -

F-3

---

|ITonis Inc.                                                                                   | Statement 2
|--------------------------------------------------------------------------------------------- | -----------
|(Formerly Kenshou Inc.)                                                                       |            
|(A Development Stage Company)                                                                 |            
|Interim Consolidated Statements of Stockholders
      **Equity (Deficiency)******- Continued |            
|US Funds                                                                                      |            

|                  |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   | Deficit       |   |   |            |  
|----------------- | ------------------ |  | - | ------- |  | - | ------------- |  | - | -------- |  | - | ------------- |  | - | ----------- | - | - | ------------- | - | - | ---------- | -
|                  |                    |  |   |         |  |   |               |  |   |          |  |   | Deposit on    |  |   |             |   |   | Accumulated   |   |   |            |  
|                  |                    |  |   |         |  |   | Additional    |  |   | Share    |  |   | Acquisition   |  |   | Accumulated |   |   | During the    |   |   | Total      |  
|                  | Common
      Stock |  |   | Paid-in |  |   | Subscriptions |  |   | - Common |  |   | Comprehensive |  |   | Development |   |   | Stockholders |  
|                  | Shares             |  |   | Amount  |  |   | Capital       |  |   | Received |  |   | Stock         |  |   | Loss        |   |   | Stage         |   |   | Deficiency |  
|Balance          |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|November 30,      |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2006              | 68,781,981         |  |   | 68,782  |  |   | 2,414,386     |  |   | -        |  |   | -             |  |   | (9,420      | ) |   | (2,868,756    | ) |   | (395,008   | )
|Shares issued for |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|acquisition at    |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|$0.05 per         |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|share             | 1,355,364          |  |   | 1,355   |  |   | 111,592       |  |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 112,947    |  
|Shares issued for |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|consulting        |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|services at       |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|$0.083 per        |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|share             | 600,000            |  |   | 600     |  |   | 49,400        |  |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 50,000     |  
|Shares issued for |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.075    |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share         | 438,208            |  |   | 438     |  |   | 32,428        |  |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 32,866     |  
|Shares issued for |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.05     |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share         | 936,300            |  |   | 937     |  |   | 45,878        |  |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 46,815     |  
|Shares issued for |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|cash at $0.25     |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|per share         | 1,000,000          |  |   | 1,000   |  |   | 249,000       |  |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 250,000    |  
|Share             |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|subscriptions     |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|received          | -                  |  |   | -       |  |   | -             |  |   | 282,500  |  |   | -             |  |   | -           |   |   | -             |   |   | 282,500    |  
|Stock-based       |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|compensation      | -                  |  |   | -       |  |   | 32,950        |  |   | -        |  |   | -             |  |   | -           |   |   | -             |   |   | 32,950     |  
|Loss for the      |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|period            | -                  |  |   | -       |  |   | -             |  |   | -        |  |   | -             |  |   | -           |   |   | (1,398,326    | ) |   | (1,398,326 | )
|Foreign currency  |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|translation       |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|adjustment        | -                  |  |   | -       |  |   | -             |  |   | -        |  |   | -             |  |   | (96,029     | ) |   | -             |   |   | (96,029    | )
|Balance          |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|November 30,      |                    |  |   |         |  |   |               |  |   |          |  |   |               |  |   |             |   |   |               |   |   |            |  
|2007 (Audited)    | 73,111,853         |  | $ | 73,112  |  | $ | 2,935,634     |  | $ | 282,500  |  | $ | -             |  | $ | (105,449    | ) | $ | (4,267,082    | ) | $ | (1,081,285 | )

- See Accompanying Notes -

F-4

---

|ITonis Inc.                                                                                   | Statement 2
|--------------------------------------------------------------------------------------------- | -----------
|(Formerly Kenshou Inc.)                                                                       |            
|(A Development Stage Company)                                                                 |            
|Interim Consolidated Statements of Stockholders
      **Equity (Deficiency)******- Continued |            
|US Funds                                                                                      |            

|                    |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   | Deficit       |   |   |            |  
|------------------- | ------------------ |  | - | ------- |  | - | ------------- |  | - | -------- | - | - | ------------- | - | - | ----------- | - | - | ------------- | - | - | ---------- | -
|                    |                    |  |   |         |  |   |               |  |   |          |   |   | Deposit on    |   |   |             |   |   | Accumulated   |   |   |            |  
|                    |                    |  |   |         |  |   | Additional    |  |   | Share    |   |   | Acquisition   |   |   | Accumulated |   |   | During the    |   |   | Total      |  
|                    | Common
      Stock |  |   | Paid-in |  |   | Subscriptions |  |   | - Common |   |   | Comprehensive |   |   | Development |   |   | Stockholders |  
|                    | Shares             |  |   | Amount  |  |   | Capital       |  |   | Received |   |   | Stock         |   |   | Loss        |   |   | Stage         |   |   | Deficiency |  
|Balance            |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|November 30,        |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|2007 (Audited)      | 73,111,853         |  | $ | 73,112  |  | $ | 2,935,634     |  | $ | 282,500  |   | $ | -             |   | $ | (105,449    | ) | $ | (4,267,082    | ) | $ | (1,081,285 | )
|Shares issued for   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|acquisition of      |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Beijing Tuo         |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Jiang Culture       |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Development         |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Ltd. at $0.05 per   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|share               | 1,000,000          |  |   | 1,000   |  |   | 49,000        |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 50,000     |  
|Shares issued to    |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|iOcean Media        |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Limited for         |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|acquisition of      |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Aquos Media         |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Limited at $0.05    |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|per share           | 16,138,370         |  |   | 16,138  |  |   | 790,781       |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 806,919    |  
|Shares issued for   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|cash at $0.05       |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|per share           | 2,500,000          |  |   | 2,500   |  |   | 122,500       |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 125,000    |  
|Shares issued for   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|investor            |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|relations           |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|services at         |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|$0.05 per share     | 4,000,000          |  |   | 4,000   |  |   | 196,000       |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 200,000    |  
|Shares issued for   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|debt at $0.10       |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|per share           | 1,000,000          |  |   | 1,000   |  |   | 99,000        |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 100,000    |  
|Shares issued for   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|cash at $0.02       |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|per share           | 12,500.000         |  |   | 12,500  |  |   | 237,500       |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 250,000    |  
|Shares issued for   |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|cash at $0.25       |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|per share           | 880,000            |  |   | 880     |  |   | 219,120       |  |   | -        |   |   | -             |   |   | -           |   |   | -             |   |   | 220,000    |  
|Share               |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|subscriptions       |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|received            | -                  |  |   | -       |  |   | -             |  |   | (220,000 | ) |   | -             |   |   | -           |   |   | -             |   |   | (220,000   | )
|Deposit on          |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|acquisition        |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Common Stock        | -                  |  |   | -       |  |   | -             |  |   | -        |   |   | (50,000       | ) |   | -           |   |   | -             |   |   | (50,000    | )
|                    |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|Loss for the period | -                  |  |   | -       |  |   | -             |  |   | -        |   |   | -             |   |   | -           |   |   | (416,821      | ) |   | (416,821   | )
|Foreign currency    |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|translation         |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|adjustment          | -                  |  |   | -       |  |   | -             |  |   | -        |   |   | -             |   |   | (50,881     | ) |   | -             |   |   | (50,881    | )
|Balance            |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|February 29,        |                    |  |   |         |  |   |               |  |   |          |   |   |               |   |   |             |   |   |               |   |   |            |  
|2008 (Unaudited)    | 111,130,223        |  | $ | 111,130 |  | $ | 4,649,535     |  | $ | 62,500   |   | $ | (50,000       | ) | $ | (156,330    | ) | $ | (4,683,903    | ) | $ | (67,068    | )

- See Accompanying Notes -

F-5

---

|ITonis Inc.                                   | Statement 3
|--------------------------------------------- | -----------
|(Formerly Kenshou Inc.)                       |            
|(A Development Stage Company)                 |            
|Interim Consolidated Statements of Operations |            
|US Funds                                      |            
|(Unaudited)                                   |            

|                             |   |               |       |   |               |   |   | From          |  
|---------------------------- | - | ------------- | ----- | - | ------------- | - | - | ------------- | -
|                             |   | For the Three |       |   | For the Three |   |   | Incorporation |  
|                             |   | Months        |       |   | Months        |   |   | July 5,       |  
|                             |   | Ended         |       |   | Ended         |   |   | 2005 to       |  
|                             |   | February 29,  |       |   | February 28,  |   |   | February 29,  |  
|                             |   | 2008          |       |   | 2007          |   |   | 2008          |  
|Sales                        | $ | -             |       | $ | 160,024       |   | $ | 231,179       |  
|Cost of Sales                |   | -             |       |   | 116,518       |   |   | 182,856       |  
|                             |   | -             |       |   | 43,506        |   |   | 48,323        |  
|General and Administrative   |   |               |       |   |               |   |   |               |  
|Expenses                     |   |               |       |   |               |   |   |               |  
|Finders fees                |   | 200,000       |       |   | -             |   |   | 200,000       |  
|Consulting                   |   | 105,847       |       |   | 29,507        |   |   | 426,726       |  
|Auditing and accounting      |   | 51,400        |       |   | 27,236        |   |   | 344,449       |  
|Office                       |   | 50,206        |       |   | 5,740         |   |   | 257,703       |  
|Legal                        |   | 7,361         |       |   | 2,858         |   |   | 130,670       |  
|Filing fees                  |   | 1,758         |       |   | 541           |   |   | 28,887        |  
|Depreciation                 |   | 1,656         |       |   | 8,654         |   |   | 54,627        |  
|Software development costs   |   | -             |       |   | 74,101        |   |   | 726,731       |  
|Salaries and wages           |   | -             |       |   | 58,024        |   |   | 302,447       |  
|Rent                         |   | -             |       |   | 7,802         |   |   | 74,638        |  
|Investor relations           |   | -             |       |   | 5,820         |   |   | 24,915        |  
|Intellectual property        |   | -             |       |   | -             |   |   | 1,947,637     |  
|Marketing and distribution   |   | -             |       |   | -             |   |   | 120,000       |  
|Stock-based compensation     |   | -             |       |   | 8,528         |   |   | 32,950        |  
|Bad debts                    |   | -             |       |   |               |   |   | 9,789         |  
|Foreign exchange loss        |   | (1,407        | **)** |   | (202          | ) |   | 7,749         |  
|                             |   | 416,821       |       |   | 228,609       |   |   | 4,689,918     |  
|Loss from Operations         |   | (416,821      | **)** |   | (185,103      | ) |   | (4,641,595    | )
|                             |   |               |       |   |               |   |   |               |  
|Write down of assets         |   | -             |       |   | -             |   |   | (76,234       | )
|Other income                 |   | -             |       |   | -             |   |   | 33,926        |  
|Loss for the Year            | $ | (416,821      | **)** | $ | (185,103      | ) | $ | (4,683,903    | )
|                             |   |               |       |   |               |   |   |               |  
|Loss per Share  Basic and   |   |               |       |   |               |   |   |               |  
|Diluted                      | $ | (0.00         | **)** | $ | (0.00         | ) |   |               |  
|                             |   |               |       |   |               |   |   |               |  
|Weighted Average Shares      |   |               |       |   |               |   |   |               |  
|Outstanding                  |   | 83,562,287    |       |   | 69,626,034    |   |   |               |  
|                             |   |               |       |   |               |   |   |               |  
|Comprehensive Loss           |   |               |       |   |               |   |   |               |  
|Loss for the year            | $ | (416,821      | **)** | $ | (185,103      | ) | $ | (4,683,903    | )
|Foreign currency translation |   |               |       |   |               |   |   |               |  
|adjustment                   |   | (50,881       | **)** |   | 1,634         |   |   | (156,330      | )
|Total Comprehensive Loss     |   |               |       |   |               |   |   |               |  
|for the Year                 | $ | (467,702      | **)** | $ | (183,469      | ) | $ | (4,840,233    | )
|                             |   |               |       |   |               |   |   |               |  
|Comprehensive Loss per       |   |               |       |   |               |   |   |               |  
|Share                        | $ | (0.01         | **)** | $ | (0.00         | ) |   |               |  

- See Accompanying Notes -

F-6

---

|ITonis Inc.                                   | Statement 4
|--------------------------------------------- | -----------
|(Formerly Kenshou Inc.)                       |            
|(A Development Stage Company)                 |            
|Interim Consolidated Statements of Cash Flows |            
|US Funds                                      |            
|(Unaudited)                                   |            

|                                                           |   |               |   |   |               |   |   | From          |  
|---------------------------------------------------------- | - | ------------- | - | - | ------------- | - | - | ------------- | -
|                                                           |   |               |   |   |               |   |   | Incorporation |  
|                                                           |   | For the Three |   |   | For the Three |   |   | July 5,       |  
|                                                           |   | Months Ended  |   |   | Months Ended  |   |   | 2005 to       |  
|                                                           |   | February 29,  |   |   | February 28,  |   |   | February 29,  |  
|                                                           |   | 2008          |   |   | 2007          |   |   | 2008          |  
|Operating                                                  |   |               |   |   |               |   |   |               |  
|Loss for the year                                          | $ | (416,821      | ) | $ | (185,103      | ) | $ | (4,683,903    | )
|Items not involving an
      outlay of cash:               |   |               |   |   |               |   |   |               |  
|Bad debts                                                  |   | -             |   |   | -             |   |   | 9,789         |  
|Depreciation                                               |   | 1,656         |   |   | 8,654         |   |   | 54,627        |  
|Stock-based compensation                                   |   | -             |   |   | 8,528         |   |   | 41,964        |  
|Shares issued
      and allotted for services              |   | 202,849       |   |   | 9,651         |   |   | 262,500       |  
|Shares issued for debt                                     |   | 100,000       |   |   | -             |   |   | 100,000       |  
|Intellectual
      property                                |   | -             |   |   | -             |   |   | 1,947,637     |  
|Write-down of assets                                       |   | -             |   |   | -             |   |   | 76,234        |  
|Changes in non-cash working
      capital items:           |   |               |   |   |               |   |   |               |  
|Accounts receivable                                        |   | (2,896        | ) |   | -             |   |   | (22,249       | )
|Prepaid expenses                                           |   | (2,195        | ) |   | (32,762       | ) |   | (19,230       | )
|Advance to Pilot Media Joint
      Venture                 |   | (150,000      | ) |   | -             |   |   | (150,000      | )
|Accounts
      payable                                     |   | (64,043       | ) |   | 213,930       |   |   | 729,009       |  
|Accrued liabilities                                        |   | (20,539       | ) |   | 8,630         |   |   | 83,388        |  
|Due to Beijing
      Tuo Jiang Culture Development Ltd.    |   | 150,000       |   |   | -             |   |   | 150,000       |  
|Due to related parties                                     |   | 5,351         |   |   | (92,975       | ) |   | 204,757       |  
|Net cash flows used in operations                          |   | (196,638      | ) |   | (61,447       | ) |   | (1,215,477    | )
|Investing                                                  |   |               |   |   |               |   |   |               |  
|Purchase of equipment                                      |   | -             |   |   | (51,734       | ) |   | (105,404      | )
|Advance to Pilot Media Joint
      Venture                 |   | (150,000      | ) |   | -             |   |   | (150,000      | )
|Net cash flows used in investing activities                |   | (150,000      | ) |   | (51,734       | ) |   | (255,404      | )
|Financing                                                  |   |               |   |   |               |   |   |               |  
|Share issuances for cash                                   |   | 375,000       |   |   | 112,947       |   |   | 1,614,145     |  
|Due to Beijing Tuo Jiang Culture
      Development Ltd.    |   | 150,000       |   |   | -             |   |   | 150,000       |  
|Net cash flows from financing activities                   |   | 525,000       |   |   | 112,947       |   |   | 1,764,145     |  
|                                                           |   |               |   |   |               |   |   |               |  
|Effect of exchange rate translation adjustments            |   | (50,881       | ) |   | 1,869         |   |   | (161,477      | )
|                                                           |   |               |   |   |               |   |   |               |  
|Net Increase (Decrease) in Cash                            |   | 127,481       |   |   | 1,635         |   |   | 131,787       |  
|Cash - Beginning of year                                   |   | 4,306         |   |   | 1,571         |   |   | -             |  
|Cash - End of Year                                         | $ | 131,787       |   | $ | 3,206         |   | $ | 131,787       |  
|                                                           |   |               |   |   |               |   |   |               |  
|Income Taxes Paid                                          | $ | -             |   | $ | -             |   | $ | -             |  
|Interest Paid                                              | $ | -             |   | $ | -             |   | $ | -             |  
|                                                           |   |               |   |   |               |   |   |               |  
|Supplemental Schedule of Non-Cash Investing and            |   |               |   |   |               |   |   |               |  
|Financing Transactions                                     |   |               |   |   |               |   |   |               |  
|Shares issued for debt                                     | $ | 100,000       |   | $ | -             |   | $ | 100,000       |  
|Shares issued for acquisition of Aquos
      Media Limited | $ | 806,919       |   | $ | -             |   | $ | 806,919       |  
|Shares issued for acquisition of Beijing
      Tuo Jiang   |   |               |   |   |               |   |   |               |  
|Culture Development
      Ltd.                             | $ | 50,000        |   | $ | -             |   | $ | 50,000        |  
|Shares
      issued for intellectual property              | $ | -             |   | $ | -             |   | $ | 1,947,637     |  

- See Accompanying Notes -

F-7

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|1. | Organization and Going Concern                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | Organization                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | ITonis Inc. (formerly Kenshou Inc.) (the "Company" or
        ITonis) was incorporated on July 5, 2005 as Kenshou Inc. under
        the laws of the State of Nevada. On December 2, 2005, the Company changed
        its name to ITonis Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | As a full service video solution and backend platform
        service provider, the Company has made a shift in overall corporate strategy
        to enter into the Chinese market. As a part of this strategy, the Company
        is no longer advancing funds to ITonis CZ s.r.o., the Companys wholly
        owned subsidiary in the Czech Republic. On December 22, 2007, ITonis CZ
        s.r.o. declared bankruptcy and on January 15, 2008 the bankruptcy was
        registered in the Commercial Registrar of the Czech Republic.                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On December 14, 2007, the Company entered into a binding,
        definitive joint cooperation agreement with Beijing Lushi (SDTV) Pilot
        Media Co., Ltd. (Pilot Media) to establish an online television
        network platform in the Peoples Republic of China (PRC).
        Under the joint cooperation, Pilot Media is responsible for providing
        the television network platform, assembling the necessary licenses and
        permits and operational management of the joint cooperation and the Company
        is responsible for financing, business development and intellectual property.                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On January 15, 2008 and as amended on March 5, 2008,
        the Company entered into a binding, definitive share purchase agreement
        with Niu Zhengping and Wu Jiping, individually for the acquisition of
        their company, Beijing Tuo Jiang Culture Development Ltd. Under the agreement,
        the Company must utilize a Chinese subsidiary to operate in the PRC. Consideration
        for the acquisition is 1,000,000 shares of the Companys common stock
        and $610,000. The shares defined under this agreement were issued on January
        22, 2008. On March 12, 2008, the Company paid $50,000 in partial payment.                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On January 29, 2008, the Company issued 16,138,370 shares
        at $0.05 per share in a share purchase agreement with iOcean Media Limited
        (iOcean) and Aquos Media Limited (Aquos), under
        which 100% of the outstanding shares of Aquos were acquired for the purpose
        of conducting television over the Internet in the PRC. Prior to the acquisition,
        iOcean, on behalf of its wholly owned subsidiary, Aquos, entered into
        a letter of intent with Shangdong TV in August, 2007 for the contract
        rights to create a joint cooperation for a national online television
        (IPTV) platform in the PRC. With its acquisition of Aquos
        from iOcean, the Company assumed those rights to partially satisfy the
        obligation under the Companys definitive Joint Cooperation Agreement
        with Shangdong's subsidiary, Pilot Media, entered into on December 14,
        2007.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | Going Concern and Liquidity Considerations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | The accompanying consolidated financial statements have
        been prepared assuming that the Company will continue as a going concern,
        which contemplates, among other things, the realization of assets and
        satisfaction of liabilities in the normal course of business. As at February
        29, 2008, the Company has a working capital deficiency of $892,260 an
        accumulated deficit of $4,683,903 and has incurred an accumulated operating
        cash flow deficit of $1,215,477 since incorporation. The Company intends
        to continue funding operations through sales, debt, and equity financing
        arrangements, which may be insufficient to fund its capital expenditures,
        working capital and other cash requirements for the next fiscal year.                                                                                                                                             

F-8

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|1. | Organization and Going Concern -Continued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | Going Concern and Liquidity Considerations-Continued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | These factors, among others, raise substantial doubt
        about the Company's ability to continue as a going concern. The accompanying
        consolidated financial statements do not include any adjustments that
        might result from the outcome of this uncertainty except that the assets
        of ITonis CZ s.r.o. have been recorded at liquidation value resulting
        in a write down of assets totalling $76,234.                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | Thereafter, the Company will be required to seek additional
        funds, either through sales, debt, and/or equity financing, to finance
        its long-term operations. The successful outcome of future activities
        cannot be determined at this time, and there is no assurance that, if
        achieved, the Company will have sufficient funds to execute its intended
        business plan or generate positive operating results. In response to these
        conditions, management intends to raise additional funds through future
        debt agreement and private placement offerings.                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|2. | Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | Basis of Consolidation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | On January 4, 2006 the Company incorporated a wholly
        owned subsidiary in the Czech Republic named ITonis CZ s.r.o. (ITonis
        CZ) for the purposes of operating the Companys development
        offices. On January 29, 2008, the Company acquired 100% of the outstanding
        shares of Aquos Media Limited for the purpose of conducting television
        over the Internet in the PRC. The primary asset is the contact rights
        that allow the Company to partially satisfy the obligation under the Companys
        definitive Joint Cooperation Agreement with Pilot Media, These consolidated
        financial statements include the accounts of these companies since their
        respective incorporation and acquisition dates. All intercompany balances
        and transactions have been eliminated.                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | Basis of Presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | The accompanying unaudited interim consolidated financial
        statements have been prepared as at February 28, 2008 and for the three
        month period then ended, in accordance with accounting principles generally
        accepted in the United States of America relating to the preparation of
        financial statements for interim periods. Accordingly, they do not include
        all the information and footnotes required by generally accepted accounting
        principles for complete financial statements. In the opinion of management,
        all adjustments (consisting of normal recurring accruals) considered necessary
        for a fair presentation have been included. Operating results for the
        three month period ended February 28, 2008 are not necessarily indicative
        of the results that may be expected for the year ending November 30, 2008.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   | These interim consolidated financial statements follow
        the same accounting policies and methods of their application as the most
        recent annual financial statements. These interim consolidated financial
        statements should be read in conjunction with the audited interim financial
        statements of the Company as at November 30, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

F-9

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|2. | Significant Accounting Policies -Continued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | Recently Adopted Accounting Standards                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | In December 2007, the FASB issued SFAS No. 141 (Revised)
        Business Combinations. SFAS 141 (Revised) establishes principles
        and requirements for how the acquirer of a business recognizes and measures
        in its financial statements the identifiable assets acquired, the liabilities
        assumed, and any noncontrolling interest in the acquiree. The statement
        also provides guidance for recognizing and measuring the goodwill acquired
        in the business combination and determines what information to disclose
        to enable users of the financial statements to evaluate the nature and
        financial effects of the business combination. The guidance will become
        effective for the fiscal year beginning after December 15, 2008. The Company
        has not yet evaluated the impact, if any, that SFAS 141R will have on
        its financial statements. Determination of the ultimate effect of this
        statement will depend on the Companys structure at the date of adoption.                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | In December 2007, the FASB issued SFAS No.
        160, Noncontrolling Interests in Consolidated Financial Statements.
        This Statement amends ARB 51 to establish accounting and reporting standards
        for the noncontrolling (minority) interest in a subsidiary and for the
        deconsolidation of a subsidiary. It clarifies that a noncontrolling interest
        in a subsidiary is an ownership interest in the consolidated entity that
        should be reported as equity in the consolidated financial statements.
        The Company currently has no entities or arrangements that will be affected
        by the adoption of SFAS 160. However, determination of the ultimate effect
        of this pronouncement will depend on the Companys structure at the
        date of adoption.                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | In February 2007, the FASB issued SFAS No. 159, The
        Fair Value Option for Financial Assets and Financial Liabilities
        (SFAS 159). SFAS 159 allows the Company to choose to measure many financial
        assets and financial liabilities at fair value. Unrealized gains and losses
        on items for which the fair value option has been elected are reported
        in earnings. SFAS 159 is effective for fiscal years beginning after November
        15, 2007. The Company is currently evaluating the requirements of SFAS
        159 and the potential impact on the Companys financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | In September 2006, the Securities and Exchange Commission
        issued Staff Accounting Bulletin No. 108, Considering the Effects of Prior
        Year Misstatements when Quantifying Misstatements in Current Year Financial
        Statements (SAB 108), which addresses how to quantify the
        effect of financial statement errors. The provisions of SAB 108 become
        effective as of the end of our 2007 fiscal year. The adoption of SAB 108
        did not have a material effect on the Company's reported financial position
        or results of operations.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | In September 2006, the FASB issued SFAS No. 157, "Fair
        Value Measurement" ("SFAS 157"). The Statement provides guidance for using
        fair value to measure assets and liabilities. The Statement also expands
        disclosures about the extent to which companies measure assets and liabilities
        at fair value, the information used to measure fair value, and the effect
        of fair value measurement on earnings. This Statement applies under other
        accounting pronouncements that require or permit fair value measurements.
        This Statement does not expand the use of fair value measurements in any
        new circumstances. Under this Statement, fair value refers to the price
        that would be received to sell an asset or paid to transfer a liability
        in an orderly transaction between market participants in the market in
        which the entity transacts. SFAS 157 is effective for fiscal years beginning
        after November 15, 2007. The adoption of SFAS 157 is not expected to have
        a material impact on the Companys financial position, results of
        operation or cash flows.

F-10

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|2. | Significant Accounting Policies -Continued
      Recently Adopted Accounting Standards- Continued                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | In June 2006, the FASB issued FIN. 48, Accounting
        for Uncertainty in Income Taxes (an interpretation of FASB Statement No.
        109) (FIN 48), which is effective for fiscal years beginning
        after December 15, 2006. This interpretation was issued to clarify the
        accounting for uncertainty in income taxes recognized in the financial
        statements by prescribing a recognition threshold and measurement attribute
        for the financial statement recognition and measurement of a tax position
        taken or expected to be taken in a tax return. The Company is currently
        evaluating the potential impact of FIN 48, but it is not expected to have
        a material impact on the Companys financial position, results of
        operations or cash flows.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

|3. | a)          Contract
        Rights Details are as follows:
|-- | -----------------------------------------------------------

| |                 |   |         |  |   |              |  |   | Net Book     |  |   | Net Book     | 
| | --------------- | - | ------- |  | - | ------------ |  | - | ------------ |  | - | ------------ | 
| |                 |   |         |  |   |              |  |   | Value        |  |   | Value        | 
| |                 |   |         |  |   | Accumulated  |  |   | February 29, |  |   | November 30, | 
| |                 |   | Cost    |  |   | Amortization |  |   | 2008         |  |   | 2007         | 
| | Contract Rights | $ | 806,919 |  | $ | -            |  | $ | 806,919      |  | $ | -            | 

| | b) | Equipment              
| | -- | -----------------------
| |    |                        
| |    | Details are as follows:

| |                                |   |        |  |   |              |   |   | Net Book     |  |   | Net Book     | 
| | ------------------------------ | - | ------ |  | - | ------------ | - | - | ------------ |  | - | ------------ | 
| |                                |   |        |  |   |              |   |   | Value        |  |   | Value        | 
| |                                |   |        |  |   | Accumulated  |   |   | February 29, |  |   | November 30, | 
| |                                |   | Cost   |  |   | Depreciation |   |   | 2008         |  |   | 2007         | 
| | Office equipment and furniture | $ | 21,500 |  | $ | (3,227       | ) | $ | 18,273       |  | $ | 19,929       | 
| |                                |   |        |  |   |              |   |   |              |  |   |              | 

F-11

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|4. | Software Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | By agreement dated October 1, 2005, the Company
        acquired from an unrelated party (Onyx), the TV Everywhere
        Technology (intellectual property) by issuing 30,000,000 common
        shares. This resulted in Onyx owning approximately 64% of the Company.
        The value assigned to the 30,000,000 common shares was $447,637 being
        the historical cost to Onyx. This is in accordance with SAB Topic 5G as
        Onyx retained a substantial indirect interest in the technology as at
        the date of transfer. This amount was expensed, as it does not meet the
        criteria for capitalization as set out in SFAS No. 86.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|5. | Commitments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | b)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | c)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

F-12

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|5. | Commitments-Continued
|-- | ---------------------
|   |                      
|   | d)                   

| |                   |   | Amount  | 
| | ----------------- | - | ------- | 
| |                   |   |         | 
| | March 15, 2008    | $ | 80,000  | 
| | April 1, 2008     |   | 180,000 | 
| | May 1, 2008       |   | 50,000  | 
| | June 1, 2008      |   | 50,000  | 
| | July 1, 2008      |   | 50,000  | 
| | August 1, 2008    |   | 50,000  | 
| | September 1, 2008 |   | 50,000  | 
| | October 1, 2008   |   | 50,000  | 
| | November 1, 2008  |   | 50,000  | 
| |                   |   |         | 
| |                   | $ | 610,000 | 

|   |                                                                              
|-- | -----------------------------------------------------------------------------
|6. | Segmented Information                                                        
|   |                                                                              
|   | Details on a geographic basis as at February 29, 2008
        are as follows:

| |                     |   | Czech    |  |   |          |   |   |          |  
| | ------------------- | - | -------- |  | - | -------- | - | - | -------- | -
| |                     |   | Republic |  |   | U.S.A.   |   |   | Total    |  
| | Assets              | $ | -        |  | $ | 959,875  |   | $ | 959,875  |  
| | Revenue             | $ | -        |  | $ | -        |   | $ | -        |  
| | Loss for the period | $ | -        |  | $ | (416,821 | ) | $ | (416,821 | )

Details on a geographic basis as at November
  30, 2007 are as follows:

| |                   |   | Czech    |   |   |          |   |   |            |  
| | ----------------- | - | -------- | - | - | -------- | - | - | ---------- | -
| |                   |   | Republic |   |   | U.S.A.   |   |   | Total      |  
| | Assets            | $ | -        |   | $ | 24,889   |   | $ | 24,889     |  
| | Revenue           | $ | 206,828  |   | $ | -        |   | $ | 206,828    |  
| | Loss for the year | $ | (813,212 | ) | $ | (585,114 | ) | $ | (1,398,326 | )
| |                   |   |          |   |   |          |   |   |            |  

F-13

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|7. | Related Party Balances and Transactions                                                                                                                                                        
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                
|   | Related party transactions not disclosed elsewhere
        in these financial statements are as follows:                                                                                       
|   |                                                                                                                                                                                                
|   | a)                                                                                                                                                                                             
|   |                                                                                                                                                                                                
|   | b)                                                                                                                                                                                             
|   |                                                                                                                                                                                                
|   | c)                                                                                                                                                                                             
|   |                                                                                                                                                                                                
|   |                                                                                                                                                                                                
|   |                                                                                                                                                                                                
|   |                                                                                                                                                                                                
|   |                                                                                                                                                                                                
|   |                                                                                                                                                                                                
|   |                                                                                                                                                                                                
|   | d)                                                                                                                                                                                             
|   |                                                                                                                                                                                                
|   | e)                                                                                                                                                                                             
|   |                                                                                                                                                                                                
|   | These transactions were incurred in the normal
        course of operations and were measured at the exchange amount of consideration
        established and agreed to by the related parties.
|   |                                                                                                                                                                                                

F-14

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|8. | Capital Stock
|-- | -------------
|   |              
|   | a)           
|   |              
|   | b)           
|   |              
|   | c)           
|   |              
|   | d)           
|   |              
|   | e)           
|   |              
|   | f)           
|   |              
|   | g)           
|   |              
|   | h)           
|   |              
|   | i)           
|   |              
|   | j)           
|   |              
|   | k)           
|   |              
|   | l)           
|   |              
|   | m)           

F-15

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|8. | Capital Stock-Continued
|-- | -----------------------
|   |                        
|   | n)                     
|   |                        
|   | o)                     
|   |                        
|   | p)                     
|   |                        
|   | q)                     
|   |                        
|   | r)                     
|   |                        
|   |                        
|   |                        
|   |                        
|   |                        
|   |                        

F-16

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|8. | Capital Stock-Continued
|-- | -----------------------
|   |                        
|   | r)                     
|   |                        
|   |                        

| |                                                        |  |           |  |   | Weighted | 
| | ------------------------------------------------------ |  | --------- |  | - | -------- | 
| |                                                        |  |           |  |   | average  | 
| |                                                        |  | Number of |  |   | exercise | 
| |                                                        |  | options   |  |   | price    | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at December 1,
      2006  |  | 1,500,000 |  | $ | 0.267    | 
| |                                                        |  |           |  |   |          | 
| | Granted                                                |  | 1,500,000 |  |   | 0.267    | 
| | Exercised                                              |  | -         |  |   | -        | 
| | Expired / Cancelled                                    |  | -         |  |   | -        | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at November 30,
      2007 |  | 3,000,000 |  | $ | 0.267    | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at December 1,
      2007  |  | 3,000,000 |  | $ | 0.267    | 
| |                                                        |  |           |  |   |          | 
| | Granted                                                |  | -         |  |   | -        | 
| | Exercised                                              |  | -         |  |   | -        | 
| | Expired / Cancelled                                    |  | 3,000,000 |  |   | 0.267    | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at February 29,
      2008 |  | -         |  | $ | -        | 

The options granted during the periods
  ended February 29, 2008 and November 30, 2007 were valued using the Black-Scholes
  option pricing model with the following assumptions:

| |                                 |  | 2008 |  |  | 2007             | 
| | ------------------------------- |  | ---- |  |  | ---------------- | 
| | Expected dividend yield         |  | -    |  |  | 0.00%            | 
| | Expected stock price volatility |  | -    |  |  | 83%              | 
| | Risk-free interest rate         |  | -    |  |  | 4.82%            | 
| | Expected life of options        |  | -    |  |  | 1.92
      years | 

Because the shares of the Company had
  not begun trading on any recognized stock exchange when the options were granted,
  there is no trading history to establish the expected volatility. The Company
  has used the average volatility of public companies in the same industry or
  considered to be comparable.

Option pricing models require the input
  of highly subjective assumptions including the estimate of the share price volatility.
  Changes in the subjective input assumptions can materially affect the fair value
  estimate, and therefore, the existing models do not necessarily provide a reliable
  single measure of the fair value of the Companys stock options.

F-17

---

|ITonis Inc.                                       
|--------------------------------------------------
|(Formerly Kenshou Inc.)                           
|(A Development Stage Company)                     
|Notes to Interim Consolidated Financial Statements
|February 29, 2008                                 
|US Funds                                          
|(Unaudited)                                       
|                                                  
|                                                  

|8. | Capital Stock-Continued
|-- | -----------------------
|   |                        
|   | s)                     
|   |                        
|   |                        

| |                                                        |  |           |  |   | Weighted | 
| | ------------------------------------------------------ |  | --------- |  | - | -------- | 
| |                                                        |  |           |  |   | average  | 
| |                                                        |  | Number of |  |   | exercise | 
| |                                                        |  | warrants  |  |   | price    | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at December 1,
      2006  |  | -         |  | $ | -        | 
| |                                                        |  |           |  |   |          | 
| | Granted                                                |  | 1,000,000 |  |   | 0.25     | 
| | Exercised                                              |  | -         |  |   | -        | 
| | Expired / Cancelled                                    |  | -         |  |   | -        | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at November 30,
      2007 |  | 1,000,000 |  | $ | 0.25     | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at December 1,
      2007  |  | 1,000,000 |  | $ | 0.25     | 
| |                                                        |  |           |  |   |          | 
| | Granted                                                |  | -         |  |   | -        | 
| | Exercised                                              |  | -         |  |   | -        | 
| | Expired / Cancelled                                    |  | -         |  |   | -        | 
| |                                                        |  |           |  |   |          | 
| | Outstanding and exercisable at February 29,
      2008 |  | 1,000,000 |  | $ | 0.25     | 

|   |                  
|-- | -----------------
|9. | Subsequent Events
|   |                  
|   | a)               
|   |                  
|   | b)               
|   |                  
|   | c)               

F-18

---

Item
2.              
Managements Discussion and Analysis or Plan of Operation

The following discussion of our financial condition, changes in
financial condition and results of operations for the three months ended
February 29, 2008 should be read in conjunction with our unaudited consolidated
interim financial statements and related notes for the three months ended
February 29, 2008 included in this Quarterly Report.

Overview of our Business

Since August 2007, we had been in negotiations with the second
largest television broadcaster, Shandong Television (SDTV), in the Peoples
Republic of China to develop a national IPTV platform for China. On December 14,
2007, we entered into a joint cooperation agreement with Pilot Media to
establish an online IPTV platform in China, as described below.

We were in the business of commercializing our ITonis Video
Solution which enabled the on-demand delivery of video content, including
television channels and videos, to consumers via broadband Internet for viewing
on their television sets. However, due to the minimal level of acceptance of our
ITonis Video Solution by the market, on December 31, 2007, we placed ITonis CZ
(which held the ITonis Video Solution assets) into liquidation.

Joint Cooperation Agreement with Pilot Media

On December 14, 2007, we executed a binding, definitive joint
cooperation agreement (the Joint Cooperation Agreement) with Beijing Lushi
(SDTV) Pilot Media Co., Ltd., a company organized and validly existing under the
laws of the Peoples Republic of China. The following summary of the Joint
Cooperation Agreement does not purport to be complete and is qualified in its
entirety by reference to the Joint Cooperation Agreement (titled flOw TV Joint
Cooperation Contract), a copy of which has been filed with the SEC.

The Joint Cooperation Agreement establishes an online
television network platform in China. Under the joint cooperation, Pilot Media
is responsible for providing the television network platform, assembling the
necessary licenses and permits and operational management of the joint
cooperation and the Company is responsible for financing, business development
and intellectual property. The Company is required to raise $15,000,000 by June
1, 2008, for the implementation of the internet television platform. The Company
has operational control of the joint cooperation.

Material terms of this agreement include the following:

- The stated objectives of the Joint Cooperation Agreement are to strengthen
  the economic and technical cooperation between the two parties and sell a
  complete Internet television platform solution (the IPTV Platform) and to
  exploit the IPTV Platform throughout China.
- The business scope of the joint cooperation is to create a robust IPTV
  platform for distribution of television programming over the Internet
  throughout China, to market and sell the IPTV Platform throughout China and to
  maximize revenues by creating innovative economic sales and advertising models
  for the IPTV Platform.
- An initial investment of $15,000,000 is required, which we are required to
  contribute by no later than June 1, 2008.

- 2 -

---

- Pilot Media will not be required to contribute any cash and will hold a 40%
  interest in the Joint Cooperation.
- We will hold a 60% interest in the Joint Cooperation, provided that we will
  allocate an interest in the Joint Cooperation through the issuance of shares
  of our common stock to the management of Pilot Media.
- Pilot Medias management will ultimately hold a 20% interest in the Joint
  Cooperation by virtue of owning a 10% interest in ITonis.
- Pilot Media will be obligated to secure certain agreed upon licenses for
  the Joint Cooperation, including a business license, an Internet content
  provision license, a network culture operation license and an information
  network video/ audio program license. These licenses must be obtained within
  100 days of the execution of the Joint Cooperation Agreement. In addition,
  Pilot Media will be obligated to file applications in connection with the
  establishment of the business of the Joint Cooperation and employ local
  personnel as required for the operation of the business of the Joint
  Cooperation.

We are obligated to pay a deposit of $150,000, which was paid
on January 25, 2008. The deposit will be returned to us if the licenses are not
obtained within the 100 day period from the execution of the agreement. If the
licenses are obtained within this period, the deposit will belong to Pilot Media
and will be applied towards the $15,000,000 investment amount if the investment
amount is raised by June 1, 2008.

We have agreed to provide equipment and technology for the IPTV
Platform, manage matters that the Joint Cooperation may prescribe (such as
equipment purchases abroad) and develop IPTV content, license content and create
an advertising based revenue generator for the IPTV Platform.

We have agreed to provide a license of the technology for the
IPTV Platform to the Joint Cooperation on an exclusive basis within China, and a
non-exclusive basis with respect to the rest of the world. In order to
accomplish this, we are presently in discussions with prospective suppliers of
such technology with a view toward our licensing or acquiring this technology.

The Joint Cooperation will be governed by a supervisory
committee consisting of seven supervisors, four who will be nominated by us and
three who will be nominated by Pilot Media.

The net profit of the Joint Cooperation will be divided between
Pilot Media and us, with Pilot Media receiving 40% and us receiving 60%. Of the
amount that we receive, 20% will ultimately be allocated to the management of
Pilot Media through shares of ITonis that are to be acquired by management of
Pilot Media.

The Joint Cooperation shall cover a term of 20 years.

There is no assurance that Pilot Media will be able to obtain
the required licenses and permits, nor that the Company will be able to raise
the $15,000,000 it is required to raise for the implementation of the internet
television platform.

In order to comply with Chinese laws in connection with the
joint cooperation agreement, we have entered into the Beijing Share Purchase
Agreement to acquire a Chinese subsidiary (BJTCD) to operate in China. We
expect to complete this acquisition on or about June 1, 2008. In addition, our
wholly owned subsidiary, Aquos, is involved in the establishment of the IPTV
Platform in China. BTJCD will

- 3 -

---

be 100% owned by a Hong Kong company to be established by us,
which in turn will be 100% owned by Aquos, which is 100% owned by us. These
companies, and their places of organization, are necessary for us to effectively
transfer our earnings from the Chinese business to our bank accounts in the
United States.

China is widely regarded as the worlds fastest growing IPTV
market and offers a unique business growth opportunity for us. Development of
relevant technology solutions and build-out of the IPTV Platform in conjunction
with SDTV now forms a major component of our business strategy.

SDTV is currently in the process of obtaining all necessary
governmental approvals for a national roll-out during 2008 of the China IPTV
Pplatform in conjunction with us. The business venture will be an internet-based
television portal that we expect will eventually deliver over 150 foreign and
domestic channels to all of China. Licensed by the State Administration for Film
and Television, broadcasting is scheduled to commence in June 2008.

Disposition of our ITonis Video Solution

We were the owner of a suite of proprietary software
applications that we referred to as the ITonis video solution. The ITonis
video solution enabled the on-demand delivery of video content, including
television channels and videos, to consumers by a broadband Internet for viewing
on their television sets. Due to the minimal level of acceptable of our ITonis
video solution by the market, on December 31, 2007, we placed ITonis CZ into
liquidation and, as a result, we no longer own this technology.

Our Plan of Operations

Our primary business is the development and growth of an IPTV
platform in China which we refer to as ChinaTV-Net, a joint cooperation with
Pilot Media, to establish a nationwide, government-licensed IPTV network in
China. Subject to financing, ChinaTV-Net is proposed to cover the full spectrum
of IPTV broadcasting  infrastructure; technology; content acquisition and
creation; advertising sales and partnerships; and merchandise sales.

Our ability to implement our plan of operations under the Joint
Cooperation Agreement and participate in the ChinaTV-Net business is subject to
our being able to meet our funding obligations under the Joint Cooperation
Agreement. Our business plan for the China TV-Net business is detailed in our
Annual Report on Form 10-KSB for the year ended November 30, 2007, as filed with
the SEC. Investors should view the risk factors associated with the
implementation of this business plan as set forth in our Annual Report on Form
10-KSB. While we are presently working towards securing this funding, this is no
assurance that we will be able to meet this funding requirement. Accordingly,
there is no assurance that we will be able to execute in on the business plan
for ChinaTV-Net described below.

Under the Joint Cooperation Agreement, we are required, among
other things, to raise funding in the amount of $15,000,000 by June 1, 2008.
Based on this requirement and our other financing needs for the joint venture,
our planned expenditures over the next twelve months are approximately
$25,000,000. We anticipate that we will require financing in the amount of
approximately $25,000,000 in order to carry out our plan of operations for the
next twelve months. We anticipate that we currently do not have sufficient funds
to enable us to undertake our plan of operations past the next two months.
Accordingly, we anticipate that we will require additional financing in order to
enable us to sustain our operations for the next twelve months.

We anticipate that additional funding will be in the form of
equity financing from the sale of our common stock. We presently have no
arrangements in place for any additional equity financings. In the absence of

- 4 -

---

such additional financing, we may not be able to continue our
plan of operations beyond the next month and our business plan may fail. If we
do not obtain the required additional financing, we will initially scale back
our business operations and may ultimately be forced to abandon our plan of
operations and our business activities.

Results of Operations

|                                   |   | For the Three |   |   | For the Three |   |   | From               |  
|---------------------------------- | - | ------------- | - | - | ------------- | - | - | ------------------ | -
|                                   |   | Months Ended  |   |   | Months Ended  |   |   | Incorporation July |  
|                                   |   | February 29,  |   |   | February 28,  |   |   | 5, 2005 to         |  
|                                   |   | 2008          |   |   | 2007          |   |   | February 29, 2008  |  
|Sales                              | $ | -             |   | $ | 160,024       |   | $ | 231,179            |  
|Cost of Sales                      |   | -             |   |   | 116,518       |   |   | 182,856            |  
|                                   |   | -             |   |   | 43,506        |   |   | 48,323             |  
|General and Administrative         |   |               |   |   |               |   |   |                    |  
|Expenses                           |   |               |   |   |               |   |   |                    |  
|Finders fees                      |   | 200,000       |   |   | -             |   |   | 200,000            |  
|Consulting                         |   | 105,847       |   |   | 29,507        |   |   | 426,726            |  
|Auditing and accounting            |   | 51,400        |   |   | 27,236        |   |   | 344,449            |  
|Office                             |   | 50,206        |   |   | 5,740         |   |   | 257,703            |  
|Legal                              |   | 7,361         |   |   | 2,858         |   |   | 130,670            |  
|Filing fees                        |   | 1,758         |   |   | 541           |   |   | 28,887             |  
|Depreciation                       |   | 1,656         |   |   | 8,654         |   |   | 54,627             |  
|Software development
      costs   |   | -             |   |   | 74,101        |   |   | 726,731            |  
|Salaries and wages                 |   | -             |   |   | 58,024        |   |   | 302,447            |  
|Rent                               |   | -             |   |   | 7,802         |   |   | 74,638             |  
|Investor relations                 |   | -             |   |   | 5,820         |   |   | 24,915             |  
|Intellectual property              |   | -             |   |   | -             |   |   | 1,947,637          |  
|Marketing and distribution         |   | -             |   |   | -             |   |   | 120,000            |  
|Stock-based
      compensation     |   | -             |   |   | 8,528         |   |   | 32,950             |  
|Bad debts                          |   | -             |   |   |               |   |   | 9,789              |  
|Foreign exchange loss              |   | (1,407        | ) |   | (202          | ) |   | 7,749              |  
|                                   |   | 416,821       |   |   | 228,609       |   |   | 4,689,918          |  
|Loss from Operations               |   | (416,821      | ) |   | (185,103      | ) |   | (4,641,595         | )
|                                   |   |               |   |   |               |   |   |                    |  
|Write down of assets               |   | -             |   |   | -             |   |   | (76,234            | )
|Other income                       |   | -             |   |   | -             |   |   | 33,926             |  
|Loss for the Year                  | $ | (416,821      | ) | $ | (185,103      | ) | $ | (4,683,903         | )
|                                   |   |               |   |   |               |   |   |                    |  
|Loss per Share  Basic and         |   |               |   |   |               |   |   |                    |  
|Diluted                            | $ | (0.00         | ) | $ | (0.00         | ) |   |                    |  
|                                   |   |               |   |   |               |   |   |                    |  
|Weighted Average Shares            |   |               |   |   |               |   |   |                    |  
|Outstanding                        |   | 83,562,287    |   |   | 69,626,034    |   |   |                    |  
|                                   |   |               |   |   |               |   |   |                    |  
|Comprehensive Loss                 |   |               |   |   |               |   |   |                    |  
|Loss for the year                  | $ | (416,821      | ) | $ | (185,103      | ) | $ | (4,683,903         | )
|Foreign currency
      translation |   |               |   |   |               |   |   |                    |  
|adjustment                         |   | (50,881       | ) |   | 1,634         |   |   | (156,330           | )
|Total Comprehensive Loss for       |   |               |   |   |               |   |   |                    |  
|the Year                           | $ | (467,702      | ) | $ | (183,469      | ) | $ | (4,840,233         | )
|                                   |   |               |   |   |               |   |   |                    |  
|Comprehensive
      Loss per Share | $ | (0.01         | ) | $ | (0.00         | ) |   |                    |  

- 5 -

---

Revenue

We did not generate any revenues during first quarter of fiscal
2008 as we no longer earned any revenues associated with our ITonis Video
Solution. We have abandoned our business plan to exploit this technology in
favor of our plan to pursue the development of the Chinese IPTV Platform,
pursuant to the Joint Cooperation Agreement. For more information, see
Description of Business  Recent Developments.

We anticipate that we will not earn any significant revenues
until such time as we have achieved commercial deployment of our IPTV Platform.
We are presently not earning any revenues from our business activities.

Marketing and Distribution

The Company did not incur any significant marketing and
distribution expenses during first quarter of fiscal 2008, although such
expenses are expected to increase substantially as the IPTV network is rolled
out in 2008.

Audit and Accounting

Our accounting and auditing expenses include professional fees
for accounting and auditing expenses incurred in connection with the preparation
and audit of our financial statements.

We will continue to incur auditing and accounting expenses on
an ongoing basis in connection with our continuous disclosure obligations as a
reporting company under the United States Securities Exchange Act of 1934. Our
auditing and accounting expenses increased in the first quarter of fiscal 2008
and are anticipated to remain higher than fiscal 2007 for the balance of fiscal
2008.

Salaries and Wages

Currently, our only employees are our three executive officers.
If we are able to financing and proceed under the Joint Cooperation Agreement,
we expect to employ approximately 100 people in the China business during the
first several months of operation of the IPTV Platform and would accordingly
expect these expenses to increase significantly.

Legal

Our legal expenses include professional fees that we pay to our
legal counsel.

We will continue to incur legal expenses on an ongoing basis in
connection with our continuous disclosure obligations as a reporting company
under the United States Securities Exchange Act of 1934. We anticipate our legal
expenses will increase throughout fiscal 2008 in comparison to 2007 as we
implement our business strategy.



- 6 -

---

Consulting

Consulting fees represent amounts that we pay to consultants
that are engaged by us and expect these expenses to increase in the future.

We incurred consulting fees during first quarter of fiscal 2008
as our business activities increased in connection with our efforts to negotiate
the Joint Cooperation Agreement and to implement the Chinese IPTV Platform
business plan.

Depreciation

Depreciation expenses represents depreciation of our computer
hardware and equipment.

Liquidity and Capital Resources

Cash and Working Capital

As at February 29, 2008, we had cash of $131,787 and a working
capital deficit of $892,260, compared to cash of $4,306 and a working capital
deficit of $1,101,214 as at November 30, 2007. We have financed our operations
primarily from the sale of our common stock. However, there can be no assurance
that we will be able to raise funds from the sale of our common stock, or in any
other manner, in the future.

Related Party Loan

During the first quarter of fiscal 2007, Nicolas Lavaud, our
former director and chief executive officer, granted us a loan which was
outstanding in the amount of $45,756 as of February 29, 2008. The loan is
evidenced by a promissory note, is unsecured and does not bear any interest. The
promissory note is payable on demand.

Plan of Operations

Our plan of operations is to complete our obligations under our
joint cooperation agreement with Pilot Media and to establish the ChinaTV-Net
business with Pilot Media under this arrangement, as described above under Plan
of Operations.

Under the Joint Cooperation Agreement, we are required, among
other things, to raise funding in the amount of $15,000,000 by June 1, 2008.
Based on this requirement and our other financing needs for the joint venture,
our planned expenditures over the next twelve months are approximately
$25,000,000. We anticipate that we will require financing in the amount of
approximately $25,000,000 in order to carry out our plan of operations for the
next twelve months. We anticipate that we currently do not have sufficient funds
to enable us to undertake our plan of operations past the next two months.
Accordingly, we anticipate that we will require additional financing in order to
enable us to sustain our operations for the next twelve months.

We anticipate that additional funding will be in the form of
equity financing from the sale of our common stock. We presently have no
arrangements in place for any additional equity financings. In the absence of

- 7 -

---

such additional financing, we may not be able to continue our
plan of operations beyond the next month and our business plan may fail. If we
do not obtain the required additional financing, we will initially scale back
our business operations and may ultimately be forced to abandon our plan of
operations and our business activities.

Cash Used In Operating Activities

We used cash of $196,638 in operating activities during first
quarter of fiscal 2008 compared to cash used of $61,447 in operating activities
during first quarter of fiscal 2007 and reflected our increased expenses
associated with negotiating the Joint Cooperation Agreement and establishing the
IPTV Platform.

Cash From/Used in Investing Activities

We used cash of $nil in investing activities during first
quarter of fiscal 2008 which consisted of upgrades and enhancements to
technology and purchases of equipment. We used cash in investing activities in
the amount of $51,734 during first quarter of fiscal 2007.

Cash from Financing Activities

We generated cash of $375,000 from financing activities during
  first quarter of fiscal 2008 compared to cash of $112,947 generated from financing
  activities during first quarter of fiscal 2007. Cash generated from financing
  activities during first quarter of fiscal 2008 and 2007 was attributable to
  shares issued for cash.

Going Concern

We have not attained profitable operations and are dependent
upon obtaining financing to pursue any extensive business activities. For these
reasons our auditors stated in their report on our annual financial statements
for the year ended November 30, 2007, as included in our Annual Report on Form
10-KSB, that they have substantial doubt we will be able to continue as a going
concern.

Future Financings

We anticipate continuing to rely on equity sales of our common
shares in order to continue to fund our business operations. Issuances of
additional shares will result in dilution to our existing stockholders. There is
no assurance that we will achieve any additional sales of our equity securities
or arrange for debt or other financing to fund our planned activities.

Off-Balance Sheet Arrangements

We have no significant off-balance sheet arrangements that have
or are reasonably likely to have a current or future effect on our financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that are
material to stockholders.

Item
3.              
Controls and Procedures

As required by Rule 13a-15 under the Securities Exchange Act of
1934 (the Exchange Act), we carried out an evaluation of the effectiveness of
the design and operation of our disclosure controls and procedures as of
February 29, 2008, being the date of our most recently completed quarter. This
evaluation was carried out under the supervision and with the participation of
our Chief Executive Officer and Chief Financial Officer, Mr. Thomas Neal
Roberts. Based upon that evaluation, our Chief Executive

- 8 -

---

Officer and Chief Financial Officer concluded that our
disclosure controls and procedures are effective to ensure that information
required to be disclosed by us in the reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified by the rules and forms of the Securities and Exchange
Commission (the SEC).

Disclosure controls and procedures are controls and other
procedures that are designed to ensure that information required to be disclosed
in our reports filed or submitted under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the SECs rules
and forms. Disclosure controls and procedures include, without limitation,
controls and procedures designed to ensure that information required to be
disclosed in our reports filed under the Exchange Act is accumulated and
communicated to management, including our Chief Executive Officer and our Chief
Financial Officer, to allow timely decisions regarding required disclosure.

During the fiscal quarter ended February 29, 2008, there were
no changes in our internal control over financial reporting that have materially
affected, or are reasonably likely to affect, our internal control over
financial reporting during the quarter ended February 29, 2008.

The term internal control over financial reporting is defined
as a process designed by, or under the supervision of, the registrants
principal executive and principal financial officers, or persons performing
similar functions, and effected by the registrants board of directors,
management and other personnel, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles and includes those policies and procedures that:

|(a) | Pertain to the maintenance of records that in reasonable
      detail accurately and fairly reflect the transactions and dispositions of
      the assets of the registrant;                                                                                                                                                                                                   
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                
|(b) | Provide reasonable assurance that transactions are
      recorded as necessary to permit preparation of financial statements in
      accordance with generally accepted accounting principles, and that
      receipts and expenditures of the registrant are being made only in
      accordance with authorizations of management and directors of the
      registrant; and
|    |                                                                                                                                                                                                                                                                                                                                                                                
|(c) | Provide reasonable assurance regarding prevention or
      timely detection of unauthorized acquisition, use or disposition of the
      registrants assets that could have a material effect on the financial
      statements.                                                                                                                                              

- 9 -

---

PART II  OTHER INFORMATION

Item
1.              
Legal Proceedings

We currently are not a party to any material legal proceedings
and, to our knowledge, no such proceedings are threatened or contemplated.

Item
2.              
Unregistered Sales of Equity Securities and Use of Proceeds

We issued the following securities without registration under
the Securities Act of 1933 since the beginning of our first quarter ended
February 29, 2008 through to March 31, 2008:

Date of Issuance
      Nature of Transaction
      Securities Issued
      Number of Investors
      Exemption Relied Upon1.
    January 2, 2008
    Private placement at $0.05 per share
    6,500,000
    1
    Rule 903 of Regulation S; sale completed in an
      offshore transaction with no direct selling efforts in the United
      States.2.
    January 15, 2008
    Issued to Niu Zhiping pursuant to Share
      Purchase Agreement
    1,000,000
    1
    Rule 903 of Regulation S; sale completed in an
      offshore transaction with no direct selling efforts in the United
      States.3.
    January 29, 2008
    Issued to iOcean Media Limited pursuant to
      Share Purchase Agreement (Previously disclosed on Form 8-K filed on
      February 12, 2008)
    16,138,370
    1
    Rule 903 of Regulation S; sale completed in an
      offshore transaction with no direct selling efforts in the United
      States.4.
    February 5, 2008
    Issued pursuant to consultant agreement for
      $70,015 services
    1,000,000
    1
    Section 4(2) of the Act; sale completed to
      accredited investor without any general solicitation or advertising.5.
    February 7, 2008
    Private placement for proceeds of $150,000
    880,000
    1
    Rule 903 of Regulation S; sale completed in an
      offshore transaction with no direct selling efforts in the United
      States.6.
    February 7, 2008
    Private placement
    12,500,000
    1
    Rule
      506 of Regulation D; sale


- 10 -

---

Date of Issuance
      Nature of Transaction
      Securities Issued
      Number of Investors
      Exemption Relied Uponfor proceeds of $250,000
      
      
    completed to accredited investor without any
      general solicitation or advertising.7.
    March 21, 2008
    Private placement for proceeds of $250,000
    12,500,000
    1
    Rule 506 of Regulation D; sale completed to
      accredited investor without any general solicitation or advertising.8.
    March 21, 2008
    Private placement for proceeds of $62,500
    1,250,000
    1
    Rule 903 of Regulation S; sale completed in an
      offshore transaction with no direct selling efforts in the United
      States.9.
    March 26, 2008
    Issued pursuant to services agreement.
    50,000
    1
    Section 4(2) of the Act; sale completed to
      accredited investor without any general solicitation or advertising.


All shares issued are restricted securities. All certificates
will be endorsed with a restrictive legend confirming share cannot be sold
without registration or an available exemption.

Item
3.              
Defaults Upon Senior Securities

None.

Item
4.              
Submission of Matters to a Vote of Securities Holders

No matters were submitted to our security holders for a vote
during the quarter ended February 29, 2008.

Item
5.              
Other Information

None.

Item
6.              
Exhibits

The following exhibits are included with this Quarterly Report
on Form 10-QSB:

Exhibit Number
        Description of Exhibit3.1
        Articles of Incorporation
            (1)3.2
        Certificate of Amendment
            to Articles of Incorporation (1)3.3
        By-Laws (1)3.4
        Certificate of Change pursuant
            to NRS 78.209 effective March 19, 2007 (6)10.1
        Asset Purchase Agreement
            dated October 1, 2005 between ITonis Inc. and Onyx Trading Inc. (1)10.2
        Employment Agreement between
            ITonis Inc. and Antonin Kral dated January 1, 2006 (1)10.3
        Employment Agreement between
            ITonis Inc. and Nicolas Lavaud dated February 1, 2006 (1)10.4
        Asset Purchase Agreement
            between ITonis Inc. and Nordic IPTV Company ApS (formerly Makeitwork
            ApS) dated January 31, 2006 (1)10.5
        Reseller Agreement dated
            February 7, 2006 between ITonis Inc. and Makeitwork ApS (1)10.6
        Lease Agreement dated December
            23, 2005 between Achat Real a.s. and ITonis CZ s.r.o. (1)10.7
        2006 Stock Option Plan (2)10.8
        Amendment dated February
            15, 2006 to Employment Agreement between ITonis Inc. and Nicolas Lavaud
            dated February 1, 2006 (3)10.9
        Amendment dated August 9,
            2006 to Reseller Agreement dated February 7, 2006 between ITonis Inc.
            and Nordic IPTV Company ApS (formerly, Makeitwork ApS") (3)10.10
        Promissory Note issued by
            ITonis Inc. to Nicolas Lavaud in the amount of CZ 400,000Kc dated
            July 3, 2006 (3)10.11
        Subscription Agreement between
            ITonis Inc. and Spectrum Managers Ltd. dated December 12, 2006 (4)10.12
        Memorandum of Understanding
            between the Company and iOcean Media Limited dated April 16, 2007
            (7)10.13
        Employment Agreement between
            the Company and Thomas Neal Roberts dated September 1, 2007 (9)


- 11 -

---

Exhibit Number
        Description of Exhibit10.14
        Employment Agreement between
            the Company and Lawrence Haber dated September 1, 2007 (9)10.15
        Share Purchase Agreement
            between the Company, iOcean Media Limited and Aquos Media Limited
            dated September 8, 2007 (10)10.16
        Employment Agreement between
            ITonis Inc. and Thomas Neal Roberts dated September 1, 2007 (10)10.17
        Employment Agreement between
            ITonis Inc. and Lawrence Haber dated September 1, 2007(10)10.18
        Share Purchase Agreement
            dated September 8, 2007 between ITonis Inc., iOcean Media Limited
            and Aquos Media Limited (11)10.19
        Voting Trust Agreement between
            ITonis Inc. and iOcean Media Limited dated October 23, 2007. (11)10.20
        Option Agreement between
            ITonis Inc. and iOcean Media Limited dated October 23, 2007.(11)10.21
        flow TV Joint Cooperation
            Contract between the Company and Beijing Lushi (SDTV) Pilot Media
            Co., Ltd. Dated December 14, 2008 (12)10.22
        Agreement For Purchase And
            Sale Of Ownership Interests between the Company and Niu Zhengping
            and Wu Jiping, individually dated January 15, 2008 (12)10.23
        Amended and Restated Share
            Purchase Agreement between the Company, iOcean Media Limited and Aquos
            Media Limited dated January 21, 2008 (12)10.24
        Employment Agreement between
            the Company and Thomas Neal Roberts dated January 2, 2008 (12)10.25
        Employment Agreement between
            the Company and Lawrence Haber dated January 2, 2008 (12)10.26
        First Amendment to Agreement
            for Purchase and Sale of Ownership Interests between the Company and
            Niu Zhengping and Wu Jiping, individually, dated March 5, 2008 (13)14.1
        Code of Ethics (8)16.1
        Letter of Moores Rowland
            dated February 15, 2007 (5)31.1
        Certification
            of Chief Executive Officer and Chief Financial Officer pursuant to
            Rule 13a- 14(a) of the Exchange Act (14)


- 12 -

---

Exhibit Number
        Description of Exhibit32.1
        Certification
            of Chief Executive Officer and Chief Financial Officer pursuant to
            Rule 13a- 14(b) of the Exchange Act and 18 U.S.C. Section 1350, as
            adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
            (14)


|(1)  | Filed as an exhibit to the registration statement on Form SB-2 filed with
      the SEC on May 12, 2006.                      
|---- | ------------------------------------------------------------------------------------------------------------------------------
|(2)  | Filed as an exhibit to Amendment No. 1 to the registration statement on
      Form SB-2 filed with the SEC on June 27, 2006.  
|(3)  | Filed as an exhibit to Amendment No. 2 to the registration statement on
      Form SB-2 filed with the SEC on August 11, 2006.
|(4)  | Filed as an exhibit to our Current Report on Form 8-K filed with the SEC
      on December 15, 2006.                          
|(5)  | Filed as an exhibit to our Current Report on Form 8-K filed with the SEC
      on February 23, 2007.                          
|(6)  | Filed as an exhibit to our Current Report on Form 8-K filed with the SEC
      on March 20, 2007.                             
|(7)  | Filed as an exhibit to our Current Report on Form 8-K filed with the SEC
      on April 24, 2007.                             
|(8)  | Filed as an exhibit to our Annual Report on Form 10-KSB filed with the
      SEC on April 27, 2007.                           
|(9)  | Filed as an exhibit to our current report on Form 8-K filed with the SEC
      on September 11, 2007.                         
|(10) | Filed as an exhibit to our current report on Form 8-K filed with the SEC
      on September 13, 2007.                         
|(11) | Filed as an exhibit to our current report on Form 8-K filed with the SEC
      on October 29, 2007.                           
|(12) | Filed as an exhibit to our current report on Form 8-K filed with the SEC
      on February 12, 2008.                          
|(13) | Filed as an exhibit to our current report on Form 8-K filed with the SEC
      on March 27, 2008.                             
|(14) | Filed as an exhibit to this Quarterly Report on Form 10-QSB.                                                                  

- 13 -

---

SIGNATURES

In accordance with the requirements of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

ITONIS INC.



By:    /s/ Thomas N.
  Roberts
             ________________________________
            Thomas N. Roberts 
             Chief Executive
  Officer and Chief Financial Officer

Date:
  April 21, 2008

- 14 -

---