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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-Q

(Mark One)[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended August 31, 2010
or

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

For the transition period from _______________ to _______________
  Commission File Number:
000-52218

STRIKER ENERGY CORP(Exact
name of registrant as specified in its charter)

|Nevada                                                               | 20-2590810                          
|-------------------------------------------------------------------- | ------------------------------------
|(State or other jurisdiction of incorporation or
      organization) | (I.R.S. Employer Identification No.)

901  360 Bay Street, Toronto, ON, Canada M5H
2V6(Address of principal executive offices) (Zip Code)

(416) 489-0093(Registrant's telephone number,
including area code)

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

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter 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 has submitted
electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation
S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files).
Yes [ ] No [ ]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of "large accelerated filer,"
"accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.

|Large accelerated filer | [ ] |                                               | Accelerated filer         | [ ]
|----------------------- | --- | --------------------------------------------- | ------------------------- | ---
|Non-accelerated filer   | [ ] | (Do not check if a smaller reporting company) | Smaller reporting company | [X]

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

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- ii -

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Sections 12, 13 or 15(d) of the
Securities Exchange Act of 1934 subsequent to the distribution of securities
under a plan confirmed by a court.
Yes [ ] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable date
23,506,000 shares of common stock are issued and outstanding as of October
8, 2010.

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- iii -

TABLE OF CONTENTS

|PART
      I - FINANCIAL INFORMATION                                                                       | 1 
|---------------------------------------------------------------------------------------------------------- | --
|Item
      1. Consolidated Financial Statements (Unaudited).                                               | 1 
|Consolidated
      Balance Sheets                                                                          | 2 
|Consolidated
      Statements of Operations                                                                | 3 
|Consolidated
      Statements of Cash Flows                                                                | 4 
|Consolidated
      Statements of Changes in Stockholders' Equity (Deficit)                                 | 5 
|Notes
      to Consolidated Financial Statements                                                           | 6 
|Item
      2. Management's Discussion and Analysis of Financial Condition and Results
      of Operations. | 16
|Item
      3. Quantitative and Qualitative Disclosures about Market Risk                                   | 21
|Item
      4T. Controls and Procedures                                                                     | 21
|PART
      II - OTHER INFORMATION                                                                          | 22
|Item
      1. Legal Proceedings                                                                            | 22
|Item
      1A. Risk Factors                                                                                | 22
|Item
      2. Unregistered Sales of Equity Securities and Use of Proceeds                                  | 27
|Item
      3. Defaults Upon Senior Securities                                                              | 27
|Item
      4. [REMOVED AND RESERVED]                                                                       | 28
|Item
      5. Other Information                                                                            | 28
|Item
      6. Exhibits                                                                                     | 28
|SIGNATURES                                                                                                 | 29

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PART I - FINANCIAL INFORMATION

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED).



Striker Energy Corp.(A Development Stage Company)

Consolidated Financial StatementsAugust 31, 2010

1

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Striker Energy Corp.(A Development Stage
Company)Consolidated Balance Sheets

|                                                                                                                                         |   | As of       |   |   | As of        |  
|---------------------------------------------------------------------------------------------------------------------------------------- | - | ----------- | - | - | ------------ | -
|                                                                                                                                         |   | August 31,  |   |   | February 28, |  
|                                                                                                                                         |   | 2010        |   |   | 2010         |  
|                                                                                                                                         |   | (Unaudited) |   |   | (Note 1      | )
|                                                                                                                                         |   |             |   |   |              |  
|Assets                                                                                                                                   |   |             |   |   |              |  
|                                                                                                                                         |   |             |   |   |              |  
|Current assets                                                                                                                           |   |             |   |   |              |  
|Cash and cash equivalents                                                                                                                | $ | 82,709      |   | $ | 6,760        |  
|Accounts receivable, net of reserves                                                                                                     |   | 3,111       |   |   | -            |  
|Inventory receivable                                                                                                                     |   | 117,180     |   |   | -            |  
|Total current assets                                                                                                                     |   | 203,000     |   |   | 6,760        |  
|Product rights and know-how, net of accumulated
      amortization                                                                       |   | 875,463     |   |   | -            |  
|Total assets                                                                                                                             | $ | 1,078,463   |   | $ | 6,760        |  
|                                                                                                                                         |   |             |   |   |              |  
|Liabilities                                                                                                                              |   |             |   |   |              |  
|Current liabilities                                                                                                                      |   |             |   |   |              |  
|Accounts payable and accrued liabilities                                                                                                 | $ | 185,470     |   | $ | 5,500        |  
|Promissory notes                                                                                                                         |   | 250,000     |   |   | -            |  
|Total current
      liabilities                                                                                                          |   | 435,470     |   |   | 5,500        |  
|Promissory notes                                                                                                                         |   | -           |   |   | 50,000       |  
|Accrued interest                                                                                                                         |   | -           |   |   | 1,777        |  
|Total liabilities                                                                                                                        |   | 435,470     |   |   | 57,277       |  
|Stockholders equity (deficit)                                                                                                           |   |             |   |   |              |  
|Capital stock                                                                                                                            |   |             |   |   |              |  
|Authorized
       150,000,000 common shares, par value $0.0001                                                                           |   |             |   |   |              |  
|Issued and outstanding 
         August 31, 2010  23,506,000 common shares 
         February 28, 2010  20,506,000
      common shares |   | 2,356       |   |   | 2,056        |  
|Additional paid-in capital                                                                                                               |   | 1,250,423   |   |   | 197,123      |  
|Retained deficit                                                                                                                         |   | (609,786    | ) |   | (249,696     | )
|Total stockholders' equity (deficit)                                                                                                     |   | 642,993     |   |   | (50,517      | )
|Total liabilities and
      stockholders' equity (deficit)                                                                               | $ | 1,078,463   |   | $ | 6,760        |  
|                                                                                                                                         |   |             |   |   |              |  

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

2

---

Striker Energy Corp.(A Development Stage
Company)Consolidated Statements of Operations

|                                                                                   |   | For the period  |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|---------------------------------------------------------------------------------- | - | --------------- | ---------- | - | --------------- | ---------- | - | --------------- | ---------- | - | --------------- | ---------- | - | --------------- | -
|                                                                                   |   | from the date   |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|                                                                                   |   | of inception on |            |   | For the three   |            |   | For the three   |            |   | For the six     |            |   | For the six     |  
|                                                                                   |   | March 18, 2005  |            |   | month period    |            |   | month period    |            |   | month period    |            |   | month period    |  
|                                                                                   |   | to              |            |   | ended           |            |   | ended           |            |   | ended           |            |   | ended           |  
|                                                                                   |   | August 31, 2010 |            |   | August 31, 2010 |            |   | August 31, 2009 |            |   | August 31, 2010 |            |   | August 31, 2009 |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Net revenues                                                                       | $ | 3,111           |            | $ | 3,111           |            | $ | -               |            | $ | 3,111           |            | $ | -               |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Cost of Goods Sold                                                                 |   | 1,030           |            |   | 1,030           |            |   | -               |            |   | 1,030           |            |   | -               |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Gross Margin                                                                       |   | 2,081           |            |   | 2,081           |            |   | -               |            |   | 2,081           |            |   | -               |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Operating Expenses                                                                 |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Bank charges and interest                                                          |   | 1,791           |            |   | 401             |            |   | 619             |            |   | 463             |            |   | 699             |  
|Consulting fees                                                                    |   | 203,906         |            |   | 193,730         |            |   | -               |            |   | 193,730         |            |   | -               |  
|Marketing expense                                                                  |   | 20,702          |            |   | 20,702          |            |   | -               |            |   | 20,702          |            |   | -               |  
|Travel expense                                                                     |   | 4,950           |            |   | 4,950           |            |   | -               |            |   | 4,950           |            |   | -               |  
|Filing fees                                                                        |   | 13,379          |            |   | 3,866           |            |   | 529             |            |   | 4,609           |            |   | 1,391           |  
|Interest expense                                                                   |   | 8,440           |            |   | 6,038           |            |   | -               |            |   | 6,663           |            |   | -               |  
|Investor relations                                                                 |   | 730             |            |   | -               |            |   | -               |            |   | -               |            |   | -               |  
|Legal and accounting fees                                                          |   | 201,129         |            |   | 62,852          |            |   | 12,609          |            |   | 73,098          |            |   | 17,828          |  
|Licenses and permits                                                               |   | 11,261          |            |   | 3,193           |            |   | -               |            |   | 3,193           |            |   | -               |  
|Management fees                                                                    |   | 48,000          |            |   | -               |            |   | 3,000           |            |   | 3,000           |            |   | 6,000           |  
|Mineral property expenditures                                                      |   | 15,124          |            |   | -               |            |   | -               |            |   | -               |            |   | -               |  
|Office expenses                                                                    |   | 618             |            |   | -               |            |   | -               |            |   | -               |            |   | 43              |  
|Insurance expense                                                                  |   | 24,567          |            |   | 24,567          |            |   | -               |            |   | 24,567          |            |   | -               |  
|Regulatory expense                                                                 |   | 13,781          |            |   | 13,781          |            |   | -               |            |   | 13,781          |            |   | -               |  
|Recovery from mineral property acquisition costs                                   |   | (5,000          | )          |   | -               |            |   | -               |            |   | -               |            |   | -               |  
|Rent                                                                               |   | 10,800          |            |   | -               |            |   | 600             |            |   | 600             |            |   | 1,200           |  
|Transfer agent fees                                                                |   | 16,668          |            |   | 2,395           |            |   | 825             |            |   | 3,633           |            |   | 1,725           |  
|Website development                                                                |   | 3,664           |            |   | 1,825           |            |   | -               |            |   | 1,825           |            |   | -               |  
|Amortization expense                                                               |   | 7,357           |            |   | 7,357           |            |   | -               |            |   | 7,357           |            |   | -               |  
|Write down of mineral property acquisition costs                                   |   | 10,000          |            |   | -               |            |   | -               |            |   | -               |            |   | -               |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Total Operating Expenses                                                           |   | 611,867         |            |   | 345,657         |            |   | 18,182          |            |   | 362,171         |            |   | 28,886          |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Net loss for the period                                                            | $ | (609,786        | )          | $ | (343,576        | )          | $ | (18,182         | )          | $ | (360,090        | )          | $ | (28,886         | )
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Basic and diluted loss per common share                                            |   | $               | (0.015     | ) | $               | (0.001     | ) | $               | (0.017     | ) | $               | (0.001     | )
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|Weighted average number of common 
      shares used in per share
    calculations |   |                 | 22,788,609 |   |                 | 20,506,000 |   |                 | 21,647,304 |   |                 | 20,506,000 |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  
|                                                                                   |   |                 |            |   |                 |            |   |                 |            |   |                 |            |   |                 |  

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

3

---

Striker Energy Corp.(A Development Stage
Company)Consolidated Statements of Cash Flows

|                                                                             |   | For the period  |   |   |                |   |   |                |  
|---------------------------------------------------------------------------- | - | --------------- | - | - | -------------- | - | - | -------------- | -
|                                                                             |   | from the date   |   |   |                |   |   |                |  
|                                                                             |   | of inception on |   |   | For the six    |   |   | For the six    |  
|                                                                             |   | March 18, 2005  |   |   | month period   |   |   | month period   |  
|                                                                             |   | to              |   |   | ended          |   |   | ended          |  
|                                                                             |   | August 31,2010  |   |   | August 31,2010 |   |   | August 31,2009 |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash flows from operating activities                                         |   |                 |   |   |                |   |   |                |  
|Net loss for the period                                                      | $ | (609,786        | ) | $ | (360,090       | ) | $ | (28,886        | )
|Adjustments to reconcile loss to net
      cash used by operating activities |   |                 |   |   |                |   |   |                |  
|Amortization
      expense                                                   |   | 7,357           |   |   | 7,357          |   |   | -              |  
|Contributions to capital by
      related parties  expenses                 |   | 58,800          |   |   | 3,600          |   |   | 7,200          |  
|Contributions to
    capital by related party  forgiveness of debt          |   | 38,949          |   |   | -              |   |   | -              |  
|Common shares
      issued for services                                      |   | 30              |   |   | -              |   |   | -              |  
|Recovery from mineral property
      acquisition cost                        |   | (5,000          | ) |   | -              |   |   | -              |  
|Write down of
      mineral property acquisition costs                       |   | 10,000          |   |   | -              |   |   | -              |  
|Changes in operating assets and liabilities                                  |   |                 |   |   |                |   |   |                |  
|Increase in accounts receivable                                              |   | (3,111          | ) |   | (3,111         | ) |   | -              |  
|Increase (decrease) in accounts payable and accrued
      liabilities        |   | 190,470         |   |   | 178,193        |   |   | (4,779         | )
|Cash used in
      operating activities                                      |   | (312,291        | ) |   | (174,051       | ) |   | (26,465        | )
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash flows from financing activities                                         |   |                 |   |   |                |   |   |                |  
|Decrease in due to related party                                             |   | -               |   |   | -              |   |   | (1,128         | )
|Proceeds from long-term debt                                                 |   | 250,000         |   |   | 200,000        |   |   | 50,000         |  
|Common shares returned to treasury                                           |   | (5,000          | ) |   | -              |   |   | -              |  
|Common shares issued for cash                                                |   | 1,160,000       |   |   | 1,050,000      |   |   | -              |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash provided
      by financing activities                                  |   | 1,405,000       |   |   | 1,250,000      |   |   | 48,872         |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash flows from investing activities                                         |   |                 |   |   |                |   |   |                |  
|Acquisition of mineral property interest                                     |   | (10,000         | ) |   | -              |   |   | -              |  
|Acquisition of Granisol product line                                         |   | (1,000,000      | ) |   | (1,000,000     | ) |   | -              |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash used in
      investing activities                                      |   | (1,010,000      | ) |   | (1,000,000     | ) |   | -              |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Increase in
      cash and cash equivalents                                  |   | 82,709          |   |   | 75,949         |   |   | 22,407         |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash and cash
      equivalents, beginning of period                         |   | -               |   |   | 6,760          |   |   | 2,448          |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Cash and cash
      equivalents, end of period                               | $ | 82,709          |   | $ | 82,709         |   | $ | 24,855         |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|Supplemental
      Disclosures with Respect to Cash Flows **(Note 9)**       |   |                 |   |   |                |   |   |                |  
|                                                                             |   |                 |   |   |                |   |   |                |  
|                                                                             |   |                 |   |   |                |   |   |                |  

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

4

---

Striker Energy Corp.(A Development Stage
Company)Consolidated Statements of Changes in Stockholders' Equity
(Deficit)

|                                                                                                           |  |               |   |   |         |   |   |            |   |   | Deficit,    |   |   |               |  
|---------------------------------------------------------------------------------------------------------- |  | ------------- | - | - | ------- | - | - | ---------- | - | - | ----------- | - | - | ------------- | -
|                                                                                                           |  |               |   |   |         |   |   |            |   |   | accumulated |   |   | Total         |  
|                                                                                                           |  |               |   |   |         |   |   | Additional |   |   | during the  |   |   | stockholders |  
|                                                                                                           |  | Number of     |   |   | Capital |   |   | paid-in    |   |   | development |   |   | equity        |  
|                                                                                                           |  | shares issued |   |   | stock   |   |   | capital    |   |   | stage       |   |   | (deficit)     |  
|Balance as of March 18, 2005
      (inception)                                                             |  | -             |   | $ | -       |   | $ | -          |   | $ | -           |   | $ | -             |  
|Restricted common shares issued for
         cash ($0.0005 per share)  September   
      2005            |  | 10,000,000    |   |   | 1,000   |   |   | 4,000      |   |   | -           |   |   | 5,000         |  
|Contributions to capital
      by related    parties  expenses                                            |  | -             |   |   | -       |   |   | 600        |   |   | -           |   |   | 600           |  
|Net loss for the period                                                                                    |  | -             |   |   | -       |   |   | -          |   |   | (21,237     | ) |   | (21,237       | )
|                                                                                                           |  |               |   |   |         |   |   |            |   |   |             |   |   |               |  
|Balance as of February 28, 2006                                                                            |  | 10,000,000    |   |   | 1,000   |   |   | 4,600      |   |   | (21,237     | ) |   | (15,637       | )
|Common shares issued for
      cash ($0.005    per share)  May 2006                                       |  | 10,000,000    |   |   | 1,000   |   |   | 49,000     |   |   | -           |   |   | 50,000        |  
|Common shares issued for
      services    ($0.005 per share)  August 2006
      and    February 2007     |  | 6,000         |   |   | 6       |   |   | 24         |   |   | -           |   |   | 30            |  
|Contributions to capital
      by related    parties  expenses                                            |  | -             |   |   | -       |   |   | 11,400     |   |   | -           |   |   | 11,400        |  
|Net loss for the year                                                                                      |  | -             |   |   | -       |   |   | -          |   |   | (50,890     | ) |   | (50,890       | )
|                                                                                                           |  |               |   |   |         |   |   |            |   |   |             |   |   |               |  
|Balance as of February 28, 2007                                                                            |  | 20,006,000    |   |   | 2,006   |   |   | 65,024     |   |   | (72,127     | ) |   | (5,097        | )
|Contributions to capital
      by related    parties  expenses                                            |  | -             |   |   | -       |   |   | 14,400     |   |   | -           |   |   | 14,400        |  
|Common shares returned to treasury
      and    cancelled for cash ($0.005 per share)
         April 2007 |  | (1,000,000    | ) |   | (100    | ) |   | (4,900     | ) |   | -           |   |   | (5,000        | )
|Common shares issued for
      cash ($0.01   per share)  May 2007                                         |  | 1,000,000     |   |   | 100     |   |   | 4,900      |   |   | -           |   |   | 5,000         |  
|Net loss for the year                                                                                      |  | -             |   |   | -       |   |   | -          |   |   | (65,411     | ) |   | (65,411       | )
|                                                                                                           |  |               |   |   |         |   |   |            |   |   |             |   |   |               |  
|Balance as of February 28, 2008                                                                            |  | 20,006,000    |   |   | 2,006   |   |   | 79,424     |   |   | (137,538    | ) |   | (56,108       | )
|Contributions to capital
      by related   parties  expenses                                             |  | -             |   |   | -       |   |   | 14,400     |   |   | -           |   |   | 14,400        |  
|Contributions to capital by
      related    parties  loan forgiveness                                    |  | -             |   |   | -       |   |   | 38,950     |   |   | -           |   |   | 38,950        |  
|Common shares issued for
      cash ($0.10    per share)  November 2008                                   |  | 500,000       |   |   | 50      |   |   | 49,950     |   |   | -           |   |   | 50,000        |  
|Net loss for the year                                                                                      |  | -             |   |   | -       |   |   | -          |   |   | (53,957     | ) |   | (53,957       | )
|                                                                                                           |  |               |   |   |         |   |   |            |   |   |             |   |   |               |  
|Balance as of February 28, 2009                                                                            |  | 20,506,000    |   |   | 2,056   |   |   | 182,724    |   |   | (191,495    | ) |   | (6,715        | )
|Contributions to capital
      by related    parties expenses                                              |  |               |   |   | -       |   |   | 14,399     |   |   | -           |   |   | 14,399        |  
|Net loss for the year                                                                                      |  | -             |   |   | -       |   |   | -          |   |   | (58,201     | ) |   | (58,201       | )
|                                                                                                           |  |               |   |   |         |   |   |            |   |   |             |   |   |               |  
|Balance as of February 28, 2010                                                                            |  | 20,506,000    |   |   | 2,056   |   |   | 197,123    |   |   | (249,696    | ) |   | (50,517       | )
|Contributions to capital
      by related    parties  expenses                                            |  | -             |   |   | -       |   |   | 3,600      |   |   | -           |   |   | 3,600         |  
|Common shares issued for cash
      ($0.20    per share)  June 2010                                       |  | 1,500,000     |   |   | 150     |   |   | 299,850    |   |   | -           |   |   | 300,000       |  
|Common shares issued for
      cash ($0.50    per share)  July 2010                                       |  | 1,500,000     |   |   | 150     |   |   | 749,850    |   |   | -           |   |   | 750,000       |  
|Net loss for the period                                                                                    |  |               |   |   |         |   |   |            |   |   | (360,090    | ) |   | (360,090      | )
|                                                                                                           |  |               |   |   |         |   |   |            |   |   |             |   |   |               |  
|Balance as of August 31, 2010                                                                              |  | 23,506,000    |   | $ | 2,356   |   | $ | 1,250,423  |   | $ | (609,786    | ) | $ | 642,993       |  

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

5

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

|1. | Basis of Presentation and Nature and Continuance of
      Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | The accompanying unaudited condensed financial statements
      of Striker Energy Corp. (the "Company") have been prepared in accordance
      with the rules and regulations of the Securities and Exchange Commission,
      or the SEC, including the instructions to Form 10-Q and Regulation
    S-X.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | In the opinion of the management of the Company, all
      adjustments, which are of a normal recurring nature, necessary for a fair
      statement of the results for the three and six-month periods and for the
      period from the date of inception have been made. Results for the interim
      periods presented are not necessarily indicative of the results that might
      be expected for the entire fiscal year. When used in these notes, the
      terms "Company", "we", "us" or "our" mean Striker Energy Corp.                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | Certain information and note disclosures normally
      included in financial statements prepared in accordance with generally
      accepted accounting principles in the United States of America have been
      condensed or omitted from these statements pursuant to such rules and
      regulations and, accordingly, they do not include all the information and
      notes necessary for comprehensive financial statements and should be read
      in conjunction with our audited financial statements for the year ended
      February 28, 2010.                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | Striker Energy Corp. (the "Company") was incorporated
      under the laws of the State of Nevada on March 18, 2005 and the Company
      intended to engage in the acquisition and exploration of mineral
      properties. On September 28, 2005, the Company entered into a mineral
      property option agreement with an unrelated third party (the "Seller"),
      wherein the Company would acquire 50% of the rights, title and interests
      in and to the Bald Mountain Claims in Nevada. Early in the summer of 2008,
      the Company abandoned its efforts to acquire the Bald Mountain Claims with
      a notice to the Seller. The Company transitioned its business from mineral
      property exploration to oil and natural gas exploration.                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | On June 17, 2010, we entered into a letter of intent with
      Cypress Pharmaceutical, Inc. ("Cypress") to acquire all of the assets
      associated with Granisol (granisetron HC1) oral solution ("Granisol").
      First approved in 2008, Granisol is an oral, liquid granisetron solution,
      formerly distributed by Hawthorn Pharmaceuticals, a subsidiary of Cypress.
      The Food and Drug Administration has approved Granisol's use in cancer
      care to treat nausea and vomiting associated with cancer therapy. On June
      18, 2010, we caused PediatRx, Inc. ("PediatRx") to be incorporated as a
      wholly-owned subsidiary of Striker Energy Corp. under the laws of the
      state of Nevada. On July 23, 2010, PediatRx concluded a definitive
      agreement to acquire Granisol from Cypress and we turned our focus to the
      pharmaceutical industry and terminated our interest in oil and natural gas
      exploration.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | The Company is a development stage enterprise, as defined
      in Financial Accounting Standards Board (FASB) Accounting Standards
      Codification (ASC) Topic 915, Development Stage Entities. The
      Company is devoting all of its present efforts to the preparation for
      marketing Granisol and seeking to secure rights to other pharmaceutical
      products through acquisition and reformulation activities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | The Company has a loss of $360,090 for the six month
      period ended August 31, 2010 (August 31, 2009  $28,886, cumulative 
      $609,786) and has a working capital deficit at August 31, 2010 of $232,470
      (February 28, 2010  working capital surplus of $1,260). The Company's
      financial statements as of August 31, 2010 and for the six month period
      ended August 31, 2010 have been prepared on a going concern basis, which
      contemplates the realization of assets and the settlement of liabilities
      and commitments in the normal course of business.                                                                                                                                                                                                                                                                                                                                                                      

6

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

|   | Effective September 12, 2008, the Company completed a
      stock split by the issuance of two new common shares for each one
      outstanding common share of the Company. Unless otherwise noted, all
      references herein to number of shares, price per share or weighted average
      number of shares outstanding have been adjusted to reflect this stock
      split on retroactive basis.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Management cannot provide assurance that the Company will
      ultimately achieve profitable operations or become cash flow positive, or
      raise additional debt and/or equity capital. As of August 31, 2010, the
      Company's assets consisted of cash and cash equivalents in the amount of
      $82,709, accounts receivable from product sales of $3,111 and an inventory
      receivable from the Granisol transaction of $117,180. Management believes
      that the Company's capital resources are not currently adequate to
      continue operating and maintaining its business strategy for the fiscal
      year ending February 28, 2011. The Company believes however, that it will
      be able to raise capital through additional debt and/or equity financings
      and that such financings, combined with increasing product sales, will
      allow the Company to fund its operations in the future. Although the
      Company has historically raised capital from sales of equity and from the
      issuance of promissory notes, there is no assurance that it will be able
      to continue to do so. If the Company is unable to raise additional capital
      or secure additional lending in the near future, management expects that
      the Company will need to curtail or cease operations. These financial
      statements do not include any adjustments related to the recoverability
      and classification of assets or the amounts and classification of
      liabilities that might be necessary should the Company be unable to
      continue as a going concern.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | As of August 31, 2010, the Company was in the process of
      transitioning to its new operating business and expects to incur operating
      losses for the next twelve months as it builds out its infrastructure and
      begins its full distribution activities for Granisol.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|2. | Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | The following is a summary of significant accounting
      policies used in the preparation of these financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Cash and cash equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Cash and cash equivalents include highly liquid
      investments with original maturities of three months or less when
      purchased.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Accounts Receivable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Trade receivables are reported at net realizable value.
      In the normal course of business, credit is extended to customers on a
      short-term basis and generally collateral is not required. Management
      determines the allowance for doubtful accounts based on historical losses
      and current economic conditions. On a continuing basis, management
      analyzes delinquent receivables and once these receivables are determined
      to be uncollectible, they are written off through a charge against an
      existing allowance account or against earnings. Additionally, management
      includes the reserves for allowances such as cash discounts and returns in
      the accounts receivable balance. As of August 31, 2010, a reserve of $549
      has been netted against accounts receivable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Intangible Assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   | Intangible assets consist of product rights and know-how,
      the Granisol trademark, and a manufacturing and supply agreement. As of
      August 31, 2010, intangible assets include costs of $882,820 less related
      accumulated amortization of $7,357 which amortization began in August,
      2010. The Company is amortizing the product rights and know-how over a ten
      year period on a straight line basis. As of August 31, 2010, annual
      amortization expense for each of the succeeding five years is expected to
      be $88,282.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   

7

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

| | Intangible assets of the Company are reviewed for
      impairment whenever events or circumstances indicate that the carrying
      amount of assets may not be recoverable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | Management considers assets to be impaired if the carrying
      value exceeds the future projected cash flows from related operations
      (undiscounted and without interest charges). If impairment is deemed to
      exist, the assets will be written down to fair value.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | Income taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | Deferred income taxes are reported for timing differences
      between items of income or expense reported in the financial statements
      and those reported for income tax purposes in accordance with ASC 740,
      "Income Taxes", which requires the use of the
      asset/liability method of accounting for income taxes. Deferred income
      taxes are recognized for the future tax consequences attributable to
      differences between the financial statement carrying amounts of existing
      assets and liabilities and their respective tax bases, and for tax losses
      and credit carry-forwards. Deferred tax assets and liabilities are
      measured using enacted tax rates expected to apply to taxable income in
      the years in which those temporary differences are expected to be
      recovered or settled. The Company provides a valuation allowance for
      deferred tax asset carry-forwards. Management is unable to conclude that
      it is more likely than not that the asset will be realized.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | Sales and Sales Deductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
| | Revenue is recognized from product sales when the
      merchandise is shipped. Accordingly, revenue is recognized when all of the
      following occur: a purchase order is received from a customer; title and
      risk of loss pass to the customer upon shipment of the merchandise under
      the terms of FOB shipping point; prices and estimated sales provisions for
      product returns, sales rebates, chargebacks, payment discounts and other
      promotional allowances are reasonably determinable; and the customer's
      payment ability has been reasonably assured.                                                                                                                                                                                                                                                                                                                                                                                                                                                          
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | Concurrently with the recognition of revenue, the estimated
      sales provisions for product returns, sales rebates, chargebacks, payment
      discounts and other sales allowances are recorded. Sales provisions are
      established based upon consideration of a variety of factors, including
      but not limited to, historical relationship to revenues, historical
      payment and return experience, customer rebate arrangements and current
      contract sales terms with wholesale and indirect customers. The following
      briefly describes the nature of each provision and how such provisions are
      estimated.                                                                                                                                                                                                                                                                                                                                                                                                         

- Payment discounts are reductions to invoiced amounts offered to customers
  for payment within a specified period and are estimated upon shipment
  utilizing historical customer payment experience.
- Sales rebates are offered to certain customers to promote customer loyalty
  and encourage greater product sales. These rebate programs provide that, upon
  the attainment of pre-established volumes or the attainment of revenue
  milestones for a specified period, the customer receives either credit against
  purchases or cash payment. Other promotional programs are incentive programs
  periodically offered to customers. Due to the nature of these programs,
  management is able to estimate provisions for rebates and other promotional
  programs based on specific terms in each agreement at the time of shipment
  along with an estimate of the customer's purchases over the specified period.
- Consistent with common industry practices, there are certain terms with
  customers to allow them to return a product that is within a certain period of
  the product's expiration date. Upon shipment of product to customers, an
  estimate for such returns is recorded. This estimate is determined by applying
  a historical relationship of products returned to products sold and market
  conditions including but not limited to the reformulation of products.

8

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

- Generally, the credits are issued to customers for decreases that are made
  to selling prices for the value of inventory that is owned by customers at the
  date of the price reduction. These credits are not contractually agreed to;
  instead, management issues price adjustment credits at its discretion. Price
  adjustment credits are estimated at the time the price reduction occurs. The
  amount is calculated based on an estimate of customer inventory levels.
- There are arrangements with certain parties establishing prices for
  products for which the parties independently select a wholesaler from which to
  purchase. Such parties are referred to as indirect customers. A chargeback
  represents the difference between the sales invoice price to the wholesaler
  and the indirect customer's contract price, which is lower. Provisions for
  estimating chargebacks are calculated primarily using historical chargeback
  experience, contract pricing and sales information provided by wholesalers and
  chains, among other factors.

| | Actual product returns, chargebacks and other sales
      allowances incurred are, however, dependent upon future events and may be
      different than management's estimates. These sales deductions are
      continually monitored and management makes adjustments to these provisions
      when it becomes reasonable that actual product returns, chargebacks and
      other sales allowances may differ from established allowances.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | Basic and diluted net loss per share                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | The Company computes net income (loss) per share in
      accordance with ASC 260, "Earnings per Share". ASC 260 requires
      presentation of both basic and diluted earnings per share ("EPS") on the
      face of the income statement. Basic EPS is computed by dividing net loss
      available to common shareholders (numerator) by the weighted average
      number of shares outstanding (denominator) during the period. Diluted EPS
      gives effect to all dilutive potential common shares outstanding during
      the period using the treasury stock method and convertible preferred stock
      using the if-converted method. In computing diluted EPS, the average stock
      price for the period is used in determining the number of shares assumed
      to be purchased from the exercise of stock options or warrants. Diluted
      EPS excludes all dilutive potential shares if their effect is
      anti-dilutive.
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | Start-up expenses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | The Company has adopted ASC 720, "Start-Up Costs",
      which requires that costs associated with start-up activities be expensed
      as incurred. Accordingly, start-up costs associated with the Company's
      formation have been included in the Company's expenses for the period from
      the date of inception from March 18, 2005 to August 31, 2010.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | Use of estimates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | The preparation of financial statements in conformity with
      U.S. GAAP requires management to make estimates and assumptions that
      affect the amounts of assets and liabilities and disclosures of contingent
      assets and liabilities at the date of the financial statements and the
      reported amounts of revenues and expenditures during the reporting period.
      Actual results could differ from these estimates.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | Recent accounting pronouncements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | In February 2010, FASB issued ASU 2010-9 "Subsequent
      Events"(Topic 855) Amendments to Certain Recognition and Disclosure
      Requirements. ASU 2010-9 requires an entity that is a Securities and
      Exchange Commission ("SEC") filer to evaluate subsequent events through
      the date that the financial statements are issued and removes the
      requirement that an SEC filer disclose the date through which subsequent
      events have been evaluated. This change alleviates potential conflicts
      between Subtopic 855-10 and the SEC's requirements. ASU 2010-9 is
      effective upon issuance of the final update. The adoption of ASU 2010-9
      had no material impact on the financial statements.                                                                                                                                                                                                             

9

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

|   | In January 2010, FASB issued ASU 2010-6, "Improving
      Disclosures about Fair Measurements". ASU 2010-6 provides amendments
      to subtopic 820-10 that require separate disclosure of significant
      transfers in and out of Level 1 and Level 2 fair value measurements and
      the presentation of separate information regarding purchases, sales,
      issuances and settlements for Level 3 fair value measurements.
      Additionally, ASU 2010-6 provides amendments to subtopic 820-10 that
      clarify existing disclosures about the level of disaggregation and inputs
      and valuation techniques. ASU 2010-6 is effective for financial statements
      issued for interim and annual periods ending after December 15, 2010. The
      Company does not expect the adoption of ASU 2010-9 to have a material
      impact on the financial statements.                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | In October 2009, the FASB issued ASU 2009-13,
      "Multiple-Deliverable Revenue Arrangements". ASU 2009-13 amends
      existing revenue recognition accounting pronouncements that are currently
      within the scope of ASC 605-25 (previously included within EITF 00-21,
      "Revenue Arrangements with Multiple Deliverables"). The consensus
      to ASU 2009-13 provides accounting principles and application guidance on
      whether multiple deliverables exist, how the arrangement should be
      separated, and the consideration allocated. This guidance eliminates the
      requirement to establish the fair value of undelivered products and
      services and instead provides for separate revenue recognition based upon
      Management's estimate of the selling price for an undelivered item when
      there is no other means to determine the fair value of that undelivered
      item. ASU 2009-13 is effective prospectively for revenue arrangements
      entered into or materially modified beginning in fiscal 2012 and allows
      for retrospective application. ASU 2009-13 is effective for fiscal years
      beginning on or after June 15, 2010. The Company does not expect the
      adoption of ASU 2009-13 to have a material impact on the financial
      statements.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|3. | The Granisol Acquisition                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | On July 23, 2010 (the Closing Date), the Granisol product
      line was acquired by PediatRx for cash consideration totaling $1 million.
      All inventories and intangibles associated with the Granisol product line
      are included in the purchase. PediatRx is a US-based specialty
      pharmaceutical company dedicated to marketing and formulating effective
      therapies and supportive care products for children undergoing treatment
      for cancer and other serious conditions requiring
  hospitalization.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | PediatRx intends to acquire or license the rights to
      produce and/or market FDA approved name-brand prescription drugs and
      expects to add value by more effectively marketing these products to
      healthcare professionals and other key constituents. In addition, PediatRx
      expects to reformulate existing pharmaceutical products into more
      pediatric-friendly offerings using an approach that leverages existing
      safety data to 'fast track' regulatory approval. PediatRx also plans to
      expand the application of its core products to additional therapeutic
      areas and seek partnerships outside of the United States.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | As part of the closing and transfer of assets to PediatRx
      on July 23, 2010, PediatRx assumed a single product manufacturing and
      supply agreement with Therapex, a division of E-Z-EM Canada, Inc. to
      enable the manufacturing of the Granisol product line. Under the terms of
      the agreement, Therapex will manufacture the product in compliance with
      current Good Manufacturing Practice (cGMP) and oversee all quality control
      and packaging through to finished product to meet PediatRx'
      requirements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | Prior to the closing date, a purchase order was placed
      with Therapex for one lot of product to be delivered subsequent to the
      closing date. Such inventory to be delivered is an integral part of the
      acquisition and the seller has been paid by PediatRx as part of the $1
      million cash consideration. The Company has assigned $117,180 to inventory
      receivable on the balance sheet as of August 31, 2010, with the remaining
      purchase price allocated to the product rights and know-how associated
      with the ANDA, the Granisol trademark, and the manufacturing and supply
      agreement with Therapex. The Company is amortizing the product rights and
      know-how over a ten year period on a straight line basis, beginning with
      August, 2010.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        

10

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

| | The purchase price for the Granisol product line was
      allocated in accordance with the acquisition method of accounting. The
      acquisition method of accounting is based on ASC 805, Business
      Combinations, and uses the fair value concepts defined in ASC 820,
      Fair Value Measurements and Disclosures, which the Company has
      adopted as required. For the six months ended August 31, 2010, the Company
      incurred approximately $18,975 in costs related to the acquisition of the
      Granisol product line. These costs are reflected in other expenses on the
      Consolidated Statements of Operations.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | The following unaudited pro forma
      information was prepared assuming that the acquisitions of Granisol had
      taken place at the beginning of fiscal 2009. In preparing the pro forma
      financial information, various assumptions were made; therefore, the
      Company does not imply that the future results will be indicative of the
    following pro forma information:                                                                                                                                                                                                                                                          

| |                                        |   | August 31, 2010 |   |   | August 31, 2009 |  
| | -------------------------------------- | - | --------------- | - | - | --------------- | -
| | Net sales                              | $ | 76,951          |   | $ | 83,175          |  
| | Net loss                               |   | (383,919        | ) |   | (79,110         | )
| | Net loss per share - basic and diluted |   | (0.0163         | ) |   | (0.0034         | )

|4. | Mineral Properties                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | On September 28, 2005, the Company entered into a mineral
      property option agreement with an unrelated third party, wherein the
      Company could acquire 50% of the rights, title and interests in and to the
      Bald Mountain Claims in Nye County, Nevada (the "Bald Mountain Claims") by
      paying $5,000 in cash on signing (paid), $5,000 on the second anniversary
      of the agreement (accrued), $10,000 on the third anniversary of the
      agreement and to complete exploration expenditures totalling $500,000 by
      September 28, 2010. During the year ended February 28, 2006, the Company
      recorded a write down of mineral property acquisition costs of $5,000
      related to the Bald Mountain Claims.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | During the year ended February 29, 2008, the Company
      incurred mineral property acquisition costs of $5,000 related to Bald
      Mountain Claims. This amount was initially capitalized as a tangible
      asset. During the year ended February 29, 2008, the Company recorded a
      write down of mineral property acquisition costs of $5,000 related to the
      Bald Mountain Claims.                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | During the year ended February 28, 2009, the Company
      abandoned its interest in the Bald Mountain Claims and recorded a recovery
      of mineral property acquisition costs of $5,000. This amount was
      previously recorded as payable on September 28, 2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|5. | Promissory Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | August 31, 2010 |  | February 28, 2010
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------- |  | -----------------
| | Issued on June 15, 2009, the promissory note, bearing interest
      at five percent (5%) per annum on the principal balance of $50,000, is due
      on June 15, 2011 and is secured by a general charge on the assets of the
      Company. The principal amount or such portion thereof as shall remain
      outstanding from time to time shall accrue simple interest, calculated
      monthly in arrears, at a rate of 5% per annum commencing on the date of
      this promissory note and payable at maturity. When not in default the
      promissory note and any accrued interest can be repaid in whole or in part
      without notice or bonus. |  | $ 50,000        |  | $ 50,000         

11

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|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  | August 31, 2010 |  | February 28, 2010
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------- |  | -----------------
| | Issued on July 26,
      2010, the promissory note, bearing interest at five percent (5%) per annum
      on the principal balance of $200,000, is due on July 26, 2011 and is
      secured by a general charge on the assets of the Company. The principal
      amount or such portion thereof as shall remain outstanding from time to
      time shall accrue simple interest, calculated monthly in arrears, at a
      rate of 5% per annum commencing on the date of this promissory note and
      payable at maturity. When not in default the promissory note and any
      accrued interest can be repaid in whole or in part without notice or bonus
      with a minimum of six months interest due if repaid prior to the six month
      anniversary. |  | 200,000         |  | -                
| | Total Promissory Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | **$ 250,000**   |  | $ 50,000         

|6. | Related Party Transactions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | Effective May 28, 2010, the Company entered into a
      consulting agreement with Dr. Cameron Durrant, a shareholder of the
      Company, to assist management in the identification of opportunities
      available to the Company in the healthcare industry and to recommend terms
      of potential acquisitions. Under the agreement, the Company will
      compensate Dr. Durrant on a time-spent basis at the rate of $1,000 per
      day, plus reimbursement of reasonable associated expenses.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|7. | Capital Stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | Authorized                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | The total authorized capital is 150,000,000 common shares
      with a par value of $0.0001.                                                                                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | Issued and outstanding                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | The total issued and outstanding capital stock at August
      31, 2010 is 23,506,000 common shares with a par value of $0.0001 per
      common share.                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On September 1, 2005, 10,000,000 common shares of the
      Company were issued to an officer and director of the Company for cash
      proceeds of $5,000.                                                                                                                                                                                                                                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On May 2, 2006, the Company completed a public offering
      of securities pursuant to an exemption provided by Rule 504 of Regulation
      D, registered in the State of Nevada, and issued 10,000,000 common shares
      for total cash proceeds of $50,000.                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On August 29, 2006, 4,000 common shares valued at $0.005
      per share of the Company were issued to an officer and director of the
      Company for services rendered.                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On February 1, 2007, 2,000 common shares valued at $0.005
      per share of the Company were issued to a director of the Company for
      services rendered.                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   | On April 30, 2007, 1,000,000 common shares of the Company
      were returned to treasury and cancelled; $5,000 was returned to the
      investors.                                                                                                                                                                                                                                                                                                                                                         

12

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

|   | On May 14, 2007, 1,000,000 common shares valued at $0.005
      per share of the Company were issued for total cash proceeds of
    $5,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | Effective September 12, 2008, the Company completed a 2
      to 1 forward stock split and increased the authorized share capital from
      75,000,000 common shares to 150,000,000 common shares with the same par
      value of $0.0001. Unless otherwise noted, all references herein to number
      of shares, price per share or weighted average number of shares
      outstanding have been adjusted to reflect this stock split on retroactive
      basis.                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | On November 6, 2008, 500,000 common shares valued at
      $0.10 per share of the Company were issued for total cash proceeds of
      $50,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | During the three month period ended May 31, 2010, an
      officer and director of the Company made contributions to capital for
      management fees in the amount of $3,000 (May 31, 2009  $3,000, cumulative
       $48,000) and for rent in the amount of $600 (May 31, 2009  $600,
      cumulative  $10,800).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | On June 14, 2010, 1,500,000 common shares valued at $0.20
      per share of the Company were issued for total cash proceeds of
      $300,000.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | On July 2, 2010, 1,500,000 common shares valued at $0.50
      per share of the Company were issued for total cash proceeds of
      $750,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|8. | Income Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | The Company has losses to carry forward for income tax
      purposes as of August 31, 2010. There are no current or deferred tax
      expenses for the period ended August 31, 2010 due to the Company's loss
      position. The Company has fully reserved for any benefits of these losses.
      The deferred tax consequences of temporary differences in reporting items
      for financial statement and income tax purposes are recognized, as
      appropriate. Realization of the future tax benefits related to the
      deferred tax assets is dependent on many factors, including the Company's
      ability to generate taxable income within the net operating loss carry-
      forward period. Management has considered these factors in reaching its
      conclusion as to the valuation allowance for financial reporting
      purposes.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|   | The composition of the Company's deferred tax assets as
      at August 31, 2010 and February 28, 2010 is as
follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                

| |                                  |   | As of       |   |   | As of        |  
| | -------------------------------- | - | ----------- | - | - | ------------ | -
| |                                  |   | August 31,  |   |   | February 28, |  
| |                                  |   | 2010        |   |   | 2010         |  
| |                                  |   | (Unaudited) |   |   | (Audited)    |  
| |                                  |   |             |   |   |              |  
| | Net operating loss carry-forward | $ | 174,082     |   | $ | 52,875       |  
| | Less: Valuation allowance        |   | (174,082    | ) |   | (52,875      | )
| |                                  |   |             |   |   |              |  
| | Net deferred tax asset           | $ | -           |   | $ | -            |  

| | As of August 31, 2010, the Company has an unused net
      operating loss carry forward balance of approximately $512,006 that is
      available to offset future taxable income. The potential income tax
      benefit of these losses has been offset by a full valuation allowance.
      This unused net operating loss carry-forward balance expires through 2026
      and 2031.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

13

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

|    | We had no significant unrecognized tax benefits at
      February 28, 2010 or at August 31, 2010. Accordingly, we do not have any
      interest or penalties related to uncertain tax positions. However, if
      interest or penalties were to be incurred related to uncertain tax
      positions, such amounts would be recognized in income tax expense. Tax
      periods for all years after fiscal 2006 remain open to examination by the
      federal and state taxing jurisdictions to which we are subject
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|9.  | Supplemental Disclosures with Respect to Cash
      Flows                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | On August 29, 2006, 4,000 common shares valued at $0.005
      per share of the Company were issued to an officer and director of the
      Company for services rendered.                                                                                                                                                                                                                                                                                                                                              
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | During the year ended February 28, 2006, the Company
      recorded a write down of mineral property acquisition costs of $5,000
      related to the Bald Mountain Claims.                                                                                                                                                                                                                                                                                                                                             
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | On February 1, 2007, 2,000 common shares valued at $0.005
      per share of the Company were issued to a director of the Company for
      services rendered. `                                                                                                                                                                                                                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | On April 30, 2007, 1,000,000 common shares of the Company
      were returned to treasury and cancelled; $5,000 was returned to the
      investors.                                                                                                                                                                                                                                                                                                                                                                    
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | During the year ended February 29, 2008, the Company
      recorded a write down of mineral property acquisition costs of $5,000
      related to the Bald Mountain Claims.                                                                                                                                                                                                                                                                                                                                             
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | During the year ended February 28, 2009, two former
      officers and directors of the Company forgave loans to the Company
      totaling $38,949. This loan forgiveness has been recorded as contributions
      to capital.                                                                                                                                                                                                                                                                                         
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | During the year ended February 28, 2009, the Company
      abandoned it interest in the Bald Mountain Claims and recorded a recovery
      of mineral property acquisition costs of $5,000. This amount was
      previously recorded as payable on 28 September 28, 2007.                                                                                                                                                                                                                                              
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    | During the six month period ended August 31, 2010, an
      officer and director of the Company made contributions to capital for
      management fees in the amount of $3,000 (August 31, 2009  $6,000,
      cumulative  $48,000) and for rent in the amount of $600 (August 31, 2009
       $1,200, cumulative  $10,800).                                                                                                                                                                                       
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|10. | Subsequent Events                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

| | The following events occurred during the period
      from the six month period ended August 31, 2010 to the date the financial
    statements were available to be issued on October 8, 2010:
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |                                                                                                                                                                                               
| | i)                                                                                                                                                                                            

14

---

|Striker Energy Corp.                      
|------------------------------------------
|(A Development Stage Company)             
|Notes to Consolidated Financial Statements
|August 31, 2010                           

| | ii)  | On September 14, 2010, with retroactive effect to July 1,
      2010, our wholly owned subsidiary, PediatRx , entered into an employment
      agreement with Mr. David Tousley, Chief Financial Officer, Treasurer and
      Secretary of PediatRx. Pursuant to the employment agreement, Mr. Tousley
      agreed to perform such duties as are regularly and customarily performed
      by the Chief Financial Officer of a corporation in consideration for,
      among other things, $200,000 per annum. Mr. Tousley is also eligible to
      receive an annual bonus and an annual stock option award at the end of
      each year at the discretion of the board of directors of
  PediatRx.                                                                                                   
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |      | In addition, subject to certain performance milestones
      and a formal escrow agreement between the Company and Mr. Tousley to be
      entered into, 400,000 shares of the Company's common stock owned by Mr.
      Tousley are to be placed into escrow and released to him upon achievement
      of such performance milestones or returned to us for cancellation as
      provided therein. The term of the employment agreement is two years from
      July 1, 2010, unless both parties agree to extend.                                                                                                                                                                                                                                                                                     
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |      | During the six month period ended August 31, 2010, the
      Company paid $33,333 (August 31, 2009  $Nil, cumulative  $33,333) to Mr.
      Tousley.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | iii) | On September 14, 2010, with retroactive effect to July 1,
      2010, our wholly owned subsidiary, PediatRx , entered into an employment
      agreement with Mr. Jorge Rodriguez, Chief Commercial Officer of PediatRx.
      Pursuant to the employment agreement, Mr. Rodriguez agreed to perform such
      duties as are regularly and customarily performed by the Chief Commercial
      Officer of a corporation in consideration for, among other things,
      $150,000 per annum. Mr. Rodriguez is also eligible to receive an annual
      bonus and an annual stock option award at the end of each year at the
      discretion of the board of directors of PediatRx. The term of the
      employment agreement is two years from July 1, 2010, unless both parties
      agree to extend.
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |      | During the six month period ended August 31, 2010, the
      Company paid $25,000 (August 31, 2009  $Nil, cumulative  $25,000) to Mr.
      Rodriguez.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| | iv)  | On September 24, 2010, with retroactive effect to July 1,
      2010, our wholly owned subsidiary, PediatRx , entered into a consulting
      agreement with Dr. Cameron Durrant. Pursuant to the consulting agreement,
      Dr. Durrant agreed to perform such duties as are regularly and customarily
      performed by the Chief Executive Officer of a corporation in consideration
      for, among other things, $250,000 per annum. The term of the consulting
      agreement is one year from July 1, 2010, unless both parties agree to
      extend.                                                                                                                                                                                                                                         
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |      | Dr. Durrant's agreement with Striker dated May 28, 2010
      has been terminated in lieu of the September 24, 2010 agreement with
      PediatRx.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| |      |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
| |      | During the six month period ended 31 August 2010, the
      Company paid $31,250 and accrued an additional $22,417 (August 31, 2009 
      $Nil, cumulative  $53,667) in connection with Dr. Durrant's consulting
      agreements and also accrued an additional $84,658 in expenses paid by him
      related to the establishment of PediatRx.                                                                                                                                                                                                                                                                                                                                                                                                                                                       

15

---

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS.

Forward-Looking Statements

This report contains forward-looking statements. All statements
other than statements of historical facts contained in this quarterly report,
including statements regarding our future financial position, business strategy
and plans and objectives of management for future operations, are forward
looking statements. These statements relate to future events or our future
financial performance. In some cases, you can identify forward-looking
statements by terminology such as "may", "should", "expect", "plan",
"anticipate", "believe", "estimate", "predict", "potential" or "continue" or the
negative of these terms or other comparable terminology. Such forward-looking
statements include, without limitation, statements regarding the anticipated
designs of our future products, statements regarding our anticipated future
regulatory submissions and statements regarding our anticipated future cash
position.

We have based these forward-looking statements largely on our
current expectations and projections about future events that we believe may
affect our financial condition, results of operations, business strategy, and
financial needs. These statements are only predictions and involve known and
unknown risks, uncertainties and other factors, including the risks in the
section entitled "Risk Factors" that may cause our company's or our industry's
actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.

Moreover, we are new to the pharmaceutical business and our
management cannot predict all of the risks we will face in establishing our
company in this industry, nor can we assess the impact that these risk factors
might have on our business or the extent to which any risk factor, or any
combination of risk factors, may cause actual results to differ materially from
those contained in any forward-looking statements. You should not rely upon
forward-looking statements as predictions of future events. Although we believe
that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities
laws of the United States, we do not intend to update any of the forward-looking
statements to conform these statements to actual results.

As used in this report and unless otherwise indicated, the
terms "we", "us" and "our" refer to Striker Energy Corp. and our newly-formed
wholly-owned subsidiary, PediatRx Inc., both Nevada corporations. Unless
otherwise specified, all dollar amounts are expressed in United States dollars
and all references to "common shares" refer to the common shares in Striker
Energy Corp.'s capital stock.

Corporate Overview

We are a development stage enterprise, as defined in ASC Topic
915, "Development Stage Entities". We are currently only involved in the sales
and marketing and seeking rights of pharmaceutical products.

Our company was incorporated under the laws of Nevada on March
18, 2005. From inception until the summer of 2008, we were engaged in the
mineral exploration business. During the summer of 2008, we abandoned our
mineral exploration properties and made the transition to oil and gas. On July
28, 2010, our wholly owned subsidiary PediatRx, Inc. ("PediatRx") completed the
acquisition of Granisol (granisetron HC1) oral solution ("Granisol") from
Cypress Pharmaceutical, Inc. ("Cypress") and we abandoned our interest in the
oil and gas business in favor of pursuing opportunities in the pharmaceutical
industry.

Our Business

Striker Energy Corp. (the "Company") was incorporated under the
laws of the State of Nevada on March 18, 2005 and the Company intended to engage
in the acquisition and exploration of mineral properties. On September 28, 2005,
the Company entered into a mineral property option agreement with an unrelated
third party (the "Seller"), wherein the Company would acquire 50% of the rights,
title and interests in and to the Bald Mountain Claims in Nevada. Early in the
summer of 2008, the Company abandoned its efforts to acquire the Bald Mountain
Claims with a notice to the Seller. The Company transitioned its business from
mineral property exploration to oil and natural gas exploration.

16

---

On June 17, 2010, we entered into a letter of intent with
Cypress to acquire all of the assets associated with Granisol. First approved in
2008, Granisol is an oral, liquid granisetron solution, formerly distributed by
Hawthorn Pharmaceuticals. The Food and Drug Administration has approved
Granisol's use in cancer care to prevent nausea and vomiting associated with
cancer therapy. On June 18, 2010 we caused PediatRx Inc. to be incorporated as a
wholly-owned subsidiary of Striker Energy Corp. under the laws of the state of
Nevada. On July 23, 2010 PediatRx concluded a definitive agreement to acquire
Granisol from Cypress and we turned our focus to the pharmaceutical industry and
terminated our interest in oil and natural gas exploration.

Granisol is our first acquisition. We intend to be the sole
distributor of Granisol and to focus our marketing efforts on specialists in the
field of pediatric oncology and supportive care. We do not now, nor do we intend
to manufacture our products. We contracted manufacturing to Therapex, a division
of E-Z-EM Canada Inc., a subsidiary of E-Z-EM, Inc., the entity that
manufactured Granisol for Cypress.

We intend to develop our business by acquiring rights to,
and/or substantially all of the assets associated with drugs already approved
for use by the United States Food and Drug Administration in pediatric oncology,
supportive care and other relevant medical specialties and to become the sole
distributor of such products in the United States.

We intend to accelerate our recovery of acquisition costs and
to add value to our acquisition of Granisol, and to future acquisitions through
four principal means:

Marketing

We intend to promote the relative
merits of Granisol, and future products, to healthcare professionals, payers,
end-users and their caregivers.

Reformulation

We intend to alter non-pharmacological
elements of our products to offer greater choice to consumers by reformulating
our products into multiple appealing, easy-to-take presentations.

Extension

We intend to seek applications for our
products in fields outside of pediatric oncology and supportive care.

Expanded distribution

We intend to expand distribution of our
products in foreign markets, likely through partnerships and licensing
agreements.

Granisol, and many other 'standard of care' drugs used in
pediatric oncology in the United States are prescribed by pediatric oncologists
and pediatric hematologists. We believe that there are approximately 1,700
specialists in the United States who may prescribe our products. We intend to
focus our promotional efforts on approximately 400 key prescribers in 30 centers
in the United States who we believe are the most influential. Regarding
Granisol, we intend to promote its merits including convenient use, precise and
accurate dosing, and improved likelihood of patient compliance.

Approximately 13,500 children are diagnosed with cancer each
year in the United States. We are sensitive to the needs of families enduring
cancer therapy and we believe more palatable treatments for the side effects
associated with cancer therapy could lead to an improvement in care and quality
of life.

Competition

Granisol is the only oral, liquid granisetron HCl solution
currently on the market and approved by the United States Food and Drug
Administration.

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We believe that our singular focus on the acquisition,
development, and commercialization of pharmaceutical drugs approved by the
United States Food and Drug Administration for use in pediatric oncology,
supportive care and other relevant medical specialties is a competitive
advantage over otherwise similar pharmaceutical companies. We are aware of no
other company focused exclusively on pediatric oncology and supportive care. The
specialty pharmaceutical industry is, by definition, fragmented and it is a
competitive market. We compete with many pharmaceutical companies, both large
and small, for staff, and for product acquisitions and licensing.

We differ from many early-stage pharmaceutical companies in
that we intend to devote a large portion of our capital to acquisition, and to
sales and marketing, and we hope to recognize revenue from product sales in the
foreseeable future. Many early stage pharmaceutical companies devote a greater
portion of their capital to research and development with no expectation of
revenue from product sales in the foreseeable future.

The Company is a development stage enterprise, as defined in
Accounting Standards Codification (the "Codification" or "ASC") 915-10,
"Development Stage Entities". The Company is now devoting all of its
present efforts to the preparation for marketing Granisol and to securing rights
to other pharmaceutical products through acquisition and reformulation
activities. The Company was previously an exploration stage company in the
business of oil and natural gas exploration.

Liquidity and Capital Resources

Our financial condition for the six month periods ended August
31, 2010 and 2009 and as of August 31, 2010 and February 28, 2010 for the
respective items are summarized below.

We have incurred recurring losses from inception. Our ability
to meet our financial liabilities and commitments is primarily dependent upon
the continued financial support of our directors and shareholders, the continued
issuance of equity to new or existing shareholders or the securing additional
debt financing, and our ability to achieve and maintain profitable operations.

Working Capital

|                          |   | August 31 |   |   | February 28 | 
|------------------------- | - | --------- | - | - | ----------- | 
|                          |   | 2010      |   |   | 2010        | 
|Current Assets            | $ | 203,000   |   | $ | 6,760       | 
|Current
      Liabilities |   | 435,470   |   |   | 5,500       | 
|Working Capital (Deficit) | $ | (232,470  | ) | $ | 1,260       | 

As of August 31, 2010 our working capital deficit increased by
$233,730 due largely to our taking on additional debt in the form of a 5%
promissory note in the amount of $200,000 due on July 26, 2011 which has been
utilized to fund the establishment of infrastructure and to prepare for the
launch of Granisol. We also completed equity placements totaling $1,050,000 with
the issuance of a total of 3,000,000 shares of common stock, which funding has
been utilized to complete the acquisition of Granisol.

Cash Flows

|                                      |   | Six Months Ended August
31 |  
|------------------------------------- | - | -------------------------- | -
|                                      |   | 2010                       |  
|Cash used in operating activities     | $ | (174,051                   | )
|Cash provided by financing activities |   | 1,250,000                  |  
|Cash used in investing activities     |   | (1,000,000                 | )
|Net increase in cash                  | $ | 75,949                     |  

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Cash Used in Operating Activities

Our cash used in operating activities for the six months ended
August 31, 2010 compared to our cash used in operating activities for the six
months ended August 31, 2009 increased by $147,586, primarily due to the
expenses associated with establishing infrastructure in preparation for the
launch of Granisol.

Cash Provided by Financing Activities

Our cash provided by financing activities for the six months
ended August 31, 2010 compared to our cash provided by financing activities for
the six months ended August 31, 2009 increased by $1,201,128 due to the issuance
of a $200,000, 5% promissory note due on September 19, 2011 and the completion
of equity placements totaling $1,050,000 with the issuance of a total of
3,000,000 shares of common stock, while only $50,000 was secured during the same
period in 2009 from the issuance of a $50,000 5% promissory note due on June 15,
2011.

Cash Used in Investing Activities

During the six month period ended August 31, 2010, $1,000,000
was used to complete the acquisition of Granisol from Cypress while no cash was
utilized in investing activities during the same periods in 2009.

Results of Operation

The following summary of our results of operations should be
read in conjunction with our unaudited financial statements for the three and
six month periods ended August 31, 2010.

Revenues

We have recognized $3,111 in product revenue during the three
and six month periods ended August 31, 2010 with all such revenue occurring in
August 2010 as a result of the Granisol acquisition. We recognized no revenue
prior to 2010.

Expenses

The table below shows our expenses for the three month and six
month periods ended August 31, 2010 and 2009.

|                          |   | Three Months Ended August |  |   | Six Months Ended
      August | 
|------------------------- | - | ------------------------- |  | - | ----------------------------- | 
|                          |   | 31                        |  |   | **31**                        | 
|Expense                   |   | 2010                      |  |   | 2009                          | 
|Bank charges and interest | $ | 401                       |  | $ | 619                           | 
|Consulting fees           |   | 193,730                   |  |   | -                             | 
|Marketing expense         |   | 20,702                    |  |   | -                             | 
|Travel expense            |   | 4,950                     |  |   | -                             | 
|Filing fees               |   | 3,866                     |  |   | 529                           | 
|Interest expense          |   | 6,038                     |  |   | -                             | 
|Legal and accounting fees |   | 62,852                    |  |   | 12,609                        | 
|Licenses and permits      |   | 3,193                     |  |   | -                             | 
|Management fees           |   | -                         |  |   | 3,000                         | 
|Office expense            |   | -                         |  |   | -                             | 
|Insurance expense         |   | 24,567                    |  |   | -                             | 
|Regulatory expense        |   | 13,781                    |  |   | -                             | 
|Rent                      |   | -                         |  |   | 600                           | 
|Transfer agent fees       |   | 2,395                     |  |   | 825                           | 
|Website development       |   | 1,825                     |  |   | -                             | 
|Amortization expense      |   | 7,357                     |  |   | -                             | 
|Total Expenses            | $ | 345,657                   |  | $ | 18,182                        | 

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In the three month period ended August 31, 2010, our expenses
increased by approximately $327,000 over the three month period ended August 31,
2009, due to consulting, travel, marketing, insurance, website development and
regulatory expenses of approximately $263,000 associated with preparing for our
launch of Granisol as well as increased legal and accounting, interest expense,
transfer agent, and filing fees and expenses of approximately $61,000 incurred
in connection with the equity placements and the issuance of a promissory note
in June, as well as expenses associated with the Granisol acquisition, and
amortization expense of approximately $7,000 on the product rights and know-how
related to the Granisol acquisition. These increased expenses were offset by
decreases in management fees and rent of approximately $4,000.

In the six month period ended August 31, 2010, our expenses
increased by approximately $333,000 over the six month period ended August 31,
2009, due to consulting, travel, marketing, insurance, website development and
regulatory expenses of approximately $263,000 associated with preparing for our
re-launch of Granisol, as well as increased legal and accounting, interest
expense, transfer agent, and filing fees and expenses of approximately $67,000
incurred in connection with the equity placements and the issuance of a
promissory note in June, as well as expenses associated with the Granisol
acquisition, amortization expense of approximately $7,000 on the product rights
and know-how related to the Granisol acquisition and other administrative
expenses associated with repositioning the Company. These increased expenses
were offset by a decrease in management fees of approximately $4,000.

Cash Requirements

Our primary objectives for the next twelve month period are to
complete the systems, processes and infrastructure within PediatRx required to
commercialize Granisol and to continue to look at opportunities within the
pharmaceutical markets to acquire and/or reformulate other pharmaceutical
products.

Specifically, we estimate our operating expenses and working
capital requirements for the next 12 months to be as follows:

|Expense                                |   | Amount    | 
|-------------------------------------- | - | --------- | 
|Bank charges and interest              | $ | 3,000     | 
|Filing fees                            |   | 10,000    | 
|Investor relations                     |   | 100,000   | 
|Legal and accounting fees              |   | 120,000   | 
|Licenses and permits                   |   | 50,000    | 
|Marketing expense                      |   | 1,100,000 | 
|Insurance expense                      |   | 100,000   | 
|Personnel and consulting expense       |   | 1,200,000 | 
|Regulatory & pharmacovigilance expense |   | 400,000   | 
|Product development expense            |   | 1,000,000 | 
|Transfer agent fees                    |   | 10,000    | 
|Other general & administrative expense |   | 100,000   | 
|Total:                                 | $ | 4,193,000 | 

These expenses and working capital requirements will be offset
to some degree by revenue generation from sales of Granisol. There can be no
assurance that we will generate revenues significant enough to offset these
expenses to some or any degree and that we will not have significant needs for
other financing to support the activities of the Company. Additionally, there
can be no assurance that we will be able to identify additional opportunities
that we consider attractive enough to acquire or develop or that we will be able
to raise funds when needed or, if funds are available to us, that they can be
obtained on commercially reasonable terms. If we are not able to obtain the
additional financing on a timely basis, if and when it is needed, and if sales
of Granisol are insufficient to ultimately fund the operating costs of the
business, we may be forced to cease the operation of our business.

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Future Financing

We will require additional financing to fund our planned
operations, including acquiring and/or developing any potential products. We
currently do not have committed sources of additional financing and may not be
able to obtain additional financing, particularly, if the volatile conditions in
the stock and financial markets, and more particularly the market for early
development stage biotechnology research and development company stocks persist.

There can be no assurance that additional financing will be
available to us when needed or, if available, that it can be obtained on
commercially reasonable terms. If we are not able to obtain the additional
financing on a timely basis, if and when it is needed, we will be forced to
delay or scale down some or all of our marketing, business development and
product development activities or perhaps even cease the operation of our
business.

Since inception we have funded our operations primarily through
equity and debt financings and we expect that we will continue to fund our
operations through the equity and debt financing. If we are able to raise
additional financing by issuing equity securities, our existing stockholders'
ownership will be diluted. Obtaining commercial or other loans, assuming those
loans would be available, will increase our liabilities and future cash
commitments.

There is no assurance that we will be able to maintain
operations at a level sufficient for an investor to obtain a return on his, her,
or its investment in our common stock. Further, we may continue to be
unprofitable.

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 is
material to stockholders.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
MARKET RISK

Not Applicable

ITEM 4T. CONTROLS AND PROCEDURES

Disclosure controls and procedures

We maintain "disclosure controls and procedures", as that term
is defined in Rule 13a-15(e), promulgated by the Securities and Exchange
Commission pursuant to the Securities Exchange Act of 1934, as amended.
Disclosure controls and procedures include controls and procedures designed to
ensure that information required to be disclosed in our company's reports filed
under the Securities Exchange Act of 1934 is recorded, processed, summarized and
reported within the time periods specified in the Securities and Exchange
Commission's rules and forms, and that such information is accumulated and
communicated to our management, including our principal executive officer and
principal accounting officer to allow timely decisions regarding required
disclosure.

As required by paragraph (b) of Rules 13a-15 under the
Securities Exchange Act of 1934, as amended, our management, with the
participation of our principal executive officer and principal financial
officer, evaluated our company's disclosure controls and procedures as of the
end of the period covered by this quarterly report on Form 10-Q. Based on this
evaluation, our management concluded that as of the end of the period covered by
this quarterly report on Form 10-Q, our disclosure controls and procedures were
effective.

Internal control over financial reporting

There were no changes in our internal control over financial
reporting during the second quarter of our fiscal year ended February 28, 2011
that have materially affected, or are reasonably likely to materially affect our
internal control over financial reporting.

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Certifications

Certifications with respect to disclosure controls and
procedures and internal control over financial reporting under Rules 13a-14(a)
or 15d-14(a) of the Exchange Act are attached to this quarterly report on Form
10-Q.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We know of no material, existing or pending legal proceedings
against our company, nor are we involved as a plaintiff in any material
proceeding or pending litigation. There are no proceedings in which any of our
directors, officers or affiliates, or any registered or beneficial shareholder,
is an adverse party or has a material interest adverse to our interest.

ITEM 1A. RISK FACTORS

An investment in our common stock involves a number of very
significant risks. You should carefully consider the following risks and
uncertainties in addition to other information in this report in evaluating our
company and its business before purchasing shares of our company's common stock.
Our business, operating results and financial condition could be seriously
harmed due to any of the following risks. You could lose all or part of your
investment due to any of these risks.

Risks Related to our Company

Our independent auditors have expressed substantial doubt
about our ability to continue as a going concern.

We have generated minimal revenue from operations since our
incorporation. During the six-month period ended August 31, 2010, we incurred a
net loss of $360,090. From inception through August 31, 2010, we incurred an
aggregate loss of $609,786. We anticipate that we will continue to incur
operating expenses which will be offset to some degree by revenues from the
sales of Granisol. Unless we are able to grow the revenues from Granisol
significantly, we may never reach a point where we have positive net income. If
we cannot substantially increase our revenues from sales of Granisol, we will
continue to generate losses and will require additional funding to remain in
business. We estimate our average monthly expenses over the next 12 months to be
approximately $350,000, including product development and general and
administrative expenses, but excluding any additional product acquisition costs.
On August 31, 2010, we had cash and cash equivalents of approximately $82,709.
In order to fund our anticipated budget for the next 12 months, excluding
additional product acquisition costs, we believe that we will need to raise
approximately $3 million. This amount could increase if we encounter
difficulties that we cannot anticipate at this time. We have traditionally
raised our operating capital from the sale of equity securities but there can be
no assurance that we will continue to be able to do so. If we cannot raise the
money that we need in order to continue to operate our business, we will be
forced to delay, scale back or eliminate some or all of our proposed operations.
If any of these were to occur, there is a substantial risk that our business
would fail.

These circumstances raise substantial doubt about our ability
to continue as a going concern, as described in the explanatory paragraph to our
independent auditors' report on our financial statements for the year ended
February 28, 2010, which are included in our annual report on Form 10-K filed on
May 5, 2010. Although our financial statements raise substantial doubt about our
ability to continue as a going concern, they do not reflect any adjustments that
might result if we are unable to continue our business. Our financial statements
contain additional note disclosure describing the circumstances that lead to
this disclosure by our independent auditors.

Our substantial debt and other financial obligations could
impair our financial condition and our ability to fulfill our debt obligations.
Any refinancing of this substantial debt could be at significantly higher
interest rates.

As of August 31, 2010, we had total debt of approximately
$258,000 (including accrued interest of approximately $8,000). Our substantial
indebtedness and other current financial obligations and any that we may become
a party to in the future could:

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- impair our ability to obtain financing in the future for working capital,
  capital expenditures, acquisitions or general corporate purposes;
- have a material adverse effect on us if we fail to comply with financial
  and affirmative and restrictive covenants in debt agreements and an event of
  default occurs as a result of a failure that is not cured or waived;
- require us to dedicate a substantial portion of our cash flow for interest
  payments on our indebtedness and other financial obligations, thereby reducing
  the availability of our cash flow to fund working capital and capital
  expenditures;
- limit our flexibility in planning for, or reacting to, changes in our
  business and the industry in which we operate; and
- place us at a competitive disadvantage compared to our competitors that
  have proportionally less debt.

If we are unable to meet our debt service obligations and other
financial obligations, we could be forced to restructure or refinance our
indebtedness and other financial transactions, seek additional equity capital or
sell our assets. We might then be unable to obtain such financing or capital or
sell our assets on satisfactory terms, if at all. Any refinancing of our
indebtedness could be at significantly higher interest rates, and/or incur
significant transaction fees.

We are an early-stage company with a limited operating
history, which may hinder our ability to successfully meet our
objectives.

We are an early-stage company with only a limited operating
history upon which to base an evaluation of our current business and future
prospects. While we have recently acquired Granisol, our sales have been minimal
and, there can be no assurance that we will be successful in our efforts to
increase sales. As a result, the revenue and income potential of our business is
unproved. In addition, because of our limited operating history, we have limited
insight into trends that may emerge and affect our business. Errors may be made
in predicting and reacting to relevant business trends and we will be subject to
the risks, uncertainties and difficulties frequently encountered by early-stage
companies in evolving markets. We may not be able to successfully address any or
all of these risks and uncertainties. Failure to adequately do so could cause
our business, results of operations and financial condition to suffer.

Our only director and executive officer is employed
elsewhere and his time and effort will not be devoted to our company
full-time.

Our sole director and officer works for our company on an
"as-needed" basis and he is employed in other positions with other companies. As
a result, our company is and will continue to be managed on a part-time basis
unless and until we can identify and hire additional skilled management
personnel. Our business could be adversely impacted by the lack of full time
management.

The CEO and CFO of our wholly owned subsidiary are employed
elsewhere and their time and effort will not be devoted to our company
full-time.

PediatRx' CEO and CFO are each employed in other positions with
other companies. As a result, PediatRx is and will continue to be managed on a
part-time basis. Our business could be adversely impacted by the lack of full
time management.

Because our sole director and officer is not a resident of
the United States, investors may find it difficult to enforce, within the United
States, any judgments obtained against our sole director and officer.

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Our sole director and officer is not a resident of the United
States, and all or a substantial portion of his assets are located outside the
United States. As a result, it may be difficult for investors to enforce within
the United States any judgments obtained against our sole officer and director,
including judgments predicated upon the civil liability provisions of the
securities laws of the United States or any state thereof.

If we are unable to successfully recruit qualified
managerial and field personnel, we may not be able to continue our
operations.

In order to successfully implement and manage our business
plan, we will depend upon, among other things, successfully recruiting qualified
managerial and field personnel having experience in the pharmaceutical industry.
Competition for qualified individuals is intense. We may not be able to find,
attract and retain qualified personnel on acceptable terms. If we are unable to
find, attract and retain qualified personnel with technical expertise, our
business operations could suffer.

Future growth could strain our resources, and if we are
unable to manage our growth, we may not be able to successfully implement our
business plan.

We hope to experience rapid growth in our operations, which
will place a significant strain on our management, administrative, operational
and financial infrastructure. Our future success will depend in part upon the
ability of our executive officers to manage growth effectively. This will
require that we hire and train additional personnel to manage our expanding
operations. In addition, we must continue to improve our operational, financial
and management controls and our reporting systems and procedures. If we fail to
successfully manage our growth, we may be unable to execute upon our business
plan.

Risks Relating to the Pharmaceutical Business

If we are unable to successfully acquire, develop or
commercialize new products, our operating results will suffer.

Our future results of operations will depend to a significant
extent upon our ability to successfully acquire, develop and commercialize new
products in a timely manner. There are numerous difficulties in acquiring,
developing and commercializing new products, including:

- acquiring, developing, testing and manufacturing products in compliance
  with regulatory standards in a timely manner;
- failure to receive requisite regulatory approvals for such products in a
  timely manner or at all;
- acquiring, developing and commercializing a new product is time consuming,
  costly and subject to numerous factors, including legal actions brought by our
  competitors, that may delay or prevent the development and commercialization
  of new products;
- experiencing delays or unanticipated costs;
- experiencing delays as a result of limited resources at FDA or other
  regulatory agencies; and
- changing review and approval policies and standards at FDA and other
  regulatory agencies.

As a result of these and other difficulties, products in
development by us may or may not receive timely regulatory approvals, or
approvals at all, necessary for marketing by us or other third-party partners.
If any of our products are not timely approved or, when acquired or developed
and approved, cannot be successfully manufactured or timely commercialized, our
operating results could be adversely affected. We cannot guarantee that any
investment we make in developing products will be recouped, even if we are
successful in commercializing those products.

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Our pharmaceutical expenditures may not result in
commercially successful products.

We cannot be sure our business expenditures will result in the
successful acquisition, development or launch of products that will prove to be
commercially successful or will improve the long-term profitability of our
business. If such business expenditures do not result in successful acquisition,
development or launch of commercially successful brand products our results of
operations and financial condition could be materially adversely affected.

Third parties may claim that we infringe their proprietary
rights and may prevent us from manufacturing and selling some of our
products.

The manufacture, use and sale of new products that are the
subject of conflicting patent rights have been the subject of substantial
litigation in the pharmaceutical industry. These lawsuits relate to the validity
and infringement of patents or proprietary rights of third parties. Litigation
may be costly and time-consuming, and could divert the attention of our
management and technical personnel. In addition, if we infringe on the rights of
others, we could lose our right to develop, manufacture or market products or
could be required to pay monetary damages or royalties to license proprietary
rights from third parties. Although the parties to patent and intellectual
property disputes in the pharmaceutical industry have often settled their
disputes through licensing or similar arrangements, the costs associated with
these arrangements may be substantial and could include ongoing royalties.
Furthermore, we cannot be certain that the necessary licenses would be available
to us on commercially reasonable terms, or at all. As a result, an adverse
determination in a judicial or administrative proceeding or failure to obtain
necessary licenses could prevent us from manufacturing and selling a number of
our products, and could have a material adverse effect on our business, results
of operations, financial condition and cash flows.

The loss of or inability to attract key personnel could
cause our business to suffer.

The success of our present and future operations will depend,
to a significant extent, upon the experience, abilities and continued services
of key personnel. We cannot assure you that we will be able to attract and
retain key personnel. Employment agreements with our senior executive do not
guarantee that our senior executive officers will remain employed by us for a
significant period of time, or at all. We do not carry key-employee life
insurance on any of our officers.

We may need to raise additional funds in the future which
may not be available on acceptable terms or at all.

We may consider issuing additional debt or equity securities in
the future to fund potential acquisitions or investments, to refinance existing
debt, or for general corporate purposes. If we issue equity or convertible debt
securities to raise additional funds, our existing stockholders may experience
dilution, and the new equity or debt securities may have rights, preferences and
privileges senior to those of our existing stockholders. If we incur additional
debt, it may increase our leverage relative to our earnings or to our equity
capitalization, requiring us to pay additional interest expenses. We may not be
able to market such issuances on favorable terms, or at all, in which case, we
may not be able to develop or enhance our products, execute our business plan,
take advantage of future opportunities, or respond to competitive pressures or
unanticipated customer requirements.

Extensive industry regulation has had, and will continue to
have, a significant impact on our business, especially our product development,
manufacturing and distribution capabilities.

All pharmaceutical companies are subject to extensive, complex,
costly and evolving government regulation. For the U.S., this is principally
administered by the FDA and to a lesser extent by the DEA and state government
agencies, as well as by varying regulatory agencies in foreign countries where
products or product candidates are being manufactured and/or marketed. The
Federal Food, Drug and Cosmetic Act, the Controlled Substances Act and other
federal statutes and regulations, and similar foreign statutes and regulations,
govern or influence the testing, manufacturing, packing, labeling, storing,
record keeping, safety, approval, advertising, promotion, sale and distribution
of our products.

Under these regulations, we may become subject to periodic
inspection of our facilities, procedures and operations and/or the testing of
our products by the FDA, the DEA and other authorities, which conduct periodic
inspections to confirm that we are in compliance with all applicable
regulations. In addition, the FDA and foreign regulatory agencies conduct pre-approval and post-approval reviews and
plant inspections to determine whether our systems and processes are in
compliance with cGMP and other regulations. Following such inspections, the FDA
or other agency may issue observations, notices, citations and/or Warning
Letters that could cause us to modify certain activities identified during the
inspection. FDA guidelines specify that a Warning Letter is issued only for
violations of "regulatory significance" for which the failure to adequately and
promptly achieve correction may be expected to result in an enforcement action.
We are required to report adverse events associated with our products to FDA and
other regulatory authorities. Unexpected or serious health or safety concerns
would result in labeling changes, recalls, market withdrawals or other
regulatory actions.

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The range of possible sanctions includes, among others, FDA
issuance of adverse publicity, product recalls or seizures, fines, total or
partial suspension of production and/or distribution, suspension of the FDA's
review of product applications, enforcement actions, injunctions, and civil or
criminal prosecution. Any such sanctions, if imposed, could have a material
adverse effect on our business, operating results, financial condition and cash
flows. Under certain circumstances, the FDA also has the authority to revoke
previously granted drug approvals. Similar sanctions as detailed above may be
available to the FDA under a consent decree, depending upon the actual terms of
such decree. If internal compliance programs do not meet regulatory agency
standards or if compliance is deemed deficient in any significant way, it could
materially harm our business.

The pharmaceutical industry is highly competitive.

The pharmaceutical industry has an intensely competitive
environment that will require an ongoing, extensive search for technological
innovations and the ability to market products effectively, including the
ability to communicate the effectiveness, safety and value of products to
healthcare professionals in private practice, group practices and MCOs. We are
smaller than all of our competitors. Most of our competitors have been in
business for a longer period of time than us, have a greater number of products
on the market and have greater financial and other resources than we do.
Furthermore, recent trends in this industry are toward further market
consolidation of large drug companies into a smaller number of very large
entities, further concentrating financial, technical and market strength and
increasing competitive pressure in the industry. If we directly compete with
them for the same markets and/or products, their financial strength could
prevent us from capturing a profitable share of those markets. It is possible
that developments by our competitors will make any products or technologies that
we acquire noncompetitive or obsolete.

Risks Relating to Our Common Stock

If we issue additional shares in the future, it will result
in the dilution of our existing shareholders.

Our articles of incorporation authorize the issuance of up to
150,000,000 shares of common stock with a par value of $0.0001 per share. Our
board of directors may choose to issue some or all of such shares to acquire one
or more products and to fund our overhead and general operating requirements.
The issuance of any such shares will reduce the book value per share and may
contribute to a reduction in the market price of the outstanding shares of our
common stock. If we issue any such additional shares, such issuance will reduce
the proportionate ownership and voting power of all current shareholders.
Further, such issuance may result in a change of control of our corporation.

Trading of our stock is restricted by the Securities
Exchange Commission's penny stock regulations, which may limit a stockholder's
ability to buy and sell our common stock.

The Securities and Exchange Commission has adopted regulations
which generally define "penny stock" to be any equity security that has a market
price (as defined) less than $5.00 per share or an exercise price of less than
$5.00 per share, subject to certain exceptions. Our securities are covered by
the penny stock rules, which impose additional sales practice requirements on
broker-dealers who sell to persons other than established customers and
"accredited investors". The term "accredited investor" refers generally to
institutions with assets in excess of $5,000,000 or individuals with a net worth
in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly
with their spouse. The penny stock rules require a broker-dealer, prior to a
transaction in a penny stock not otherwise exempt from the rules, to deliver a
standardized risk disclosure document in a form prepared by the Securities and
Exchange Commission, which provides information about penny stocks and the
nature and level of risks in the penny stock market. The broker-dealer also must
provide the customer with current bid and offer quotations for the penny stock, the compensation of the broker-dealer and its
salesperson in the transaction and monthly account statements showing the market
value of each penny stock held in the customer's account. The bid and offer
quotations, and the broker-dealer and salesperson compensation information, must
be given to the customer orally or in writing prior to effecting the transaction
and must be given to the customer in writing before or with the customer's
confirmation. In addition, the penny stock rules require that prior to a
transaction in a penny stock not otherwise exempt from these rules, the
broker-dealer must make a special written determination that the penny stock is
a suitable investment for the purchaser and receive the purchaser's written
agreement to the transaction. These disclosure requirements may have the effect
of reducing the level of trading activity in the secondary market for the stock
that is subject to these penny stock rules. Consequently, these penny stock
rules may affect the ability of broker-dealers to trade our securities. We
believe that the penny stock rules discourage investor interest in and limit the
marketability of our common stock.

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FINRA sales practice requirements may also limit a
stockholder's ability to buy and sell our stock.

In addition to the "penny stock" rules described above, the
Financial Industry Regulatory Authority (known as "FINRA") has adopted rules
that require that in recommending an investment to a customer, a broker-dealer
must have reasonable grounds for believing that the investment is suitable for
that customer. Prior to recommending speculative low priced securities to their
non-institutional customers, broker-dealers must make reasonable efforts to
obtain information about the customer's financial status, tax status, investment
objectives and other information. Under interpretations of these rules, FINRA
believes that there is a high probability that speculative low priced securities
will not be suitable for at least some customers. FINRA requirements make it
more difficult for broker-dealers to recommend that their customers buy our
common stock, which may limit your ability to buy and sell our stock and have an
adverse effect on the market for our shares.

Our common stock is illiquid and the price of our common
stock may be negatively impacted by factors which are unrelated to our
operations.

Although our common stock is currently listed for quotation on
the OTC Bulletin Board, trading through the OTC Bulletin Board is frequently
thin and highly volatile. There is no assurance that a sufficient market will
develop in our stock, in which case it could be difficult for shareholders to
sell their stock. The market price of our common stock could fluctuate
substantially due to a variety of factors, including market perception of our
ability to achieve our planned growth, quarterly operating results of our
competitors, trading volume in our common stock, changes in general conditions
in the economy and the financial markets or other developments affecting our
competitors or us. In addition, the stock market is subject to extreme price and
volume fluctuations. This volatility has had a significant effect on the market
price of securities issued by many companies for reasons unrelated to their
operating performance and could have the same effect on our common stock.

We do not intend to pay dividends on any investment in the
shares of stock of our company.

We have never paid any cash dividends and currently do not
intend to pay any dividends for the foreseeable future. Because we do not intend
to declare dividends, any gain on an investment in our company will need to come
through an increase in the stock's price. This may never happen and investors
may lose all of their investment in our company.

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

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

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ITEM 4. [REMOVED AND RESERVED]

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

Exhibits required by Item 601 of Regulation S-K:

|No.   | Description                                                                                                                                                                                                                                                                                                                                            
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|3.1   | Articles of Incorporation
      (attached as an exhibit to our registration statement on Form 10-SB filed
      on September 8, 2006)                                                                                                                                                                                                                  
|3.2   | By-laws (attached as an exhibit
  to our registration statement on Form 10-SB filed on September 8, 2006)                                                                                                                                                                                                                                              
|3.3   | Certificate of Change (attached
      as an exhibit to our current report on Form 8-K filed on September 15,
      2008)                                                                                                                                                                                                                               
|10.1  | Form of Private Placement
      Subscription Agreement (attached as an exhibit to our current report on
      Form 8-K filed on November 6, 2008)                                                                                                                                                                                                      
|10.2  | Form of Private Placement
      Subscription Agreement dated June 15, 2009 (attached as an exhibit to our
      quarterly report on Form 10-Q filed on June 16, 2009)                                                                                                                                                                                  
|10.3  | Form of promissory note dated
      June 15, 2009 (attached as an exhibit to our quarterly report on Form 10-Q
      filed on June 16, 2009)                                                                                                                                                                                                           
|10.4  | Consulting Agreement with
      Cameron Durrant dated May 28, 2010 (attached as an exhibit to our
      quarterly report on Form 10-Q filed on June 28, 2010)                                                                                                                                                                                          
|10.5  | Letter of Intent with Cypress
      Pharmaceuticals Inc. (attached as an exhibit to our quarterly report on
      Form 10-Q filed on June 28, 2010)                                                                                                                                                                                                    
|10.6  | Form of Private Placement
      Subscription Agreement (attached as an exhibit to our current report on
      Form 8-K filed on June 17, 2010)                                                                                                                                                                                                         
|10.7  | Form of Private Placement
      Subscription Agreement (attached as an exhibit to our current report on
      Form 8-K filed on July 9, 2010)                                                                                                                                                                                                          
|10.8  | Asset Purchase Agreement dated
      July 22, 2010 with Cypress Pharmaceuticals, Inc. (attached as an exhibit
      to our current report on Form 8-K filed on July 28, 2010) (portions of
      the exhibit have been omitted pursuant to a request for
      confidential treatment)                                                                 
|10.9  | Assignment and Assumption of
      Contract dated July 22, 2010 with Cypress Pharmaceuticals, Inc. (attached
  as an exhibit to our current report on Form 8-K filed on July 28, 2010)                                                                                                                                                                 
|10.10 | Consent to Assignment by
      Therapex and E-Z-EM Canada Inc. (attached as an exhibit to our current
      report on Form 8-K filed on July 28, 2010)                                                                                                                                                                                                 
|10.11 | Manufacturing and Supply
      Agreement dated July 22 2010 between Cypress Pharmaceuticals, Inc. and
      Therapex, a division of E-Z-EM Canada Inc. (attached as an exhibit to our
      current report on Form 8-K filed on July 28, 2010) (portions of the
      exhibit have been omitted pursuant to a request for confidential
      treatment)
|10.12 | Form of Private Placement
      Subscription Agreement (attached as an exhibit to our current report on
      Form 8-K filed on July 29, 2010)                                                                                                                                                                                                         
|10.13 | Form of Promissory Note dated
      July 26, 2010 (attached as an exhibit to our current report on Form 8-K
      filed on July 29, 2010)                                                                                                                                                                                                              
|10.14 | Employment Agreement effective
      July 1, 2010 with David L. Tousley (attached as an exhibit to our current
      report on Form 8-K filed on September 16, 2010)                                                                                                                                                                                   
|10.15 | Employment Agreement effective
      July 1, 2010 with Jorge Rodriguez (attached as an exhibit to our current
      report on Form 8-K filed on September 16, 2010)                                                                                                                                                                                    
|10.16 | Consulting Agreement effective
      July 1, 2010 with Cameron Durrant (attached as an exhibit to our current
      report on Form 8-K filed on September 28, 2010)                                                                                                                                                                                    
|10.17 | Form of Private Placement
      Subscription Agreement (attached as an exhibit to our current report on
      Form 8-K filed on September 28, 2010)                                                                                                                                                                                                    
|10.18 | Form of Promissory Note dated
      September 16, 2010 (attached as an exhibit to our current report on Form
      8-K filed on September 28, 2010)                                                                                                                                                                                                    
|10.19 | Termination Agreement effective
      July 1, 2010 with Cameron Durrant (attached as an exhibit to our current
      report on Form 8-K filed on September 28, 2010)                                                                                                                                                                                   
|31.1* | Certification Pursuant to
      Section 302 of the Sarbanes-Oxley Act Of 2002                                                                                                                                                                                                                                                                          
|32.1* | Certification
      Pursuant to Section 906 of the Sarbanes-Oxley Act Of 2002                                                                                                                                                                                                                                                                          

* Filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.

|STRIKER ENERGY CORP                                                                                  | 
|---------------------------------------------------------------------------------------------------- | 
|                                                                                                     | 
|                                                                                                     | 
|/s/ Joseph Carusone                                                                                  | 
|Joseph Carusone                                                                                      | 
|President, Chief Executive Officer, Chief Financial
      Officer, Secretary, Treasurer and Director
|(Principal Executive Officer, Principal Financial Officer
      and Principal Accounting Officer)   
|                                                                                                     | 
|Date: October 8, 2010                                                                                | 

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