UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  FORM 10-KSB

                                   (Mark one)

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

For the fiscal year ended February 28, 2005

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

For the transition period from ________ to ________

                       Commission file number: 000-30107

                            Capital Group One, Inc.
     ---------------------------------------------------------------------

               (Name of small business issuer in its charter)

                      Florida                            65-0830090
         ---------------------------------    -------------------------------
          (State or other jurisdiction of     (IRS Employer Identification No.)
           incorporation or organization)

                     120 Adelaide Street West, Suite 1214
                                Toronto, Ontario
                                     Canada
      ---------------------------------------------------------------------
                  (Address of principal executive offices)

                                     M5H 1T1
      ---------------------------------------------------------------------
                                    (Zip Code)

Registrant's telephone number, including area code: 416-214-9735

Securities registered under Section 12(g) of the Exchange Act:

                   Common Stock, $0.001 par value per share
            --------------------------------------------------------
                                (Title of class)

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

Check if there is no disclosure of delinquent filers in response
to Item 405 of Regulation S-B is not contained in this form, and
no disclosure will be contained, to the best of registrant's
knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB. [X]

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

The Company's revenues for the year ended February 28, 2005 were $0.

As of October 12, 2007, the aggregate market value of the
voting stock held by non-affiliates of the registrant (based on
the price of $.001 per share at which the common equity was sold
to non-affiliates) was $1,000.

The number of shares of the registrant's common stock, par value
$0.001 per share, outstanding as of October 12, 2007 was
2,200,000.

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

<PAGE>


PART I.

Item 1.  DESCRIPTION OF THE BUSINESS

	Capital Group One, Inc. ( the "Company") was incorporated on
March 12, 1997 under the laws of the State of Florida.

         	At its inception, the Company adopted a Business
Plan with the objective of having the Company purchase foreclosed
residential homes for the purpose of renovating such homes and
placing them for resale thereafter.

         	The Business Plan of the Company set forth the
following guidelines for its planned operations:

         *        All homes will be purchased only in the counties of Dade,
                  Broward and Palm Beach, Florida.

         *        The price to be paid, per residence acquired, will not exceed
                  $55,000.

         *         The selling price will not be less than $70,000.

         *        The selling price will be based on the rule that the minimum
                  gross profit per residence will be $10,000. Any price above
                  $70,000 will be based on market conditions at the time of
                  sale.

         *        The anticipated turn-around-time, meaning the time from the
                  date of purchase to date of sale will be 3 months.

     Subsequent to its formation, the Company sold
1,000,000 shares of its common stock, in units of 100,000 shares
each, to 10 persons at the par price of the stock ($.001), per
share, thus raising $1,000 in cash proceeds. These sales were
made under Regulation D as promulgated by the Securities and
Exchange Commission. The proceeds were primarily used to conduct
feasibility research as to the acquisition and sale of foreclosed
properties.

     The information received by the Company indicated
that economic conditions were not favorable to proceed with the
Business Plan at that time. As a consequence, the Company has not
yet commenced active business operations although it remains a
corporation in good standing under Florida law.


<PAGE>

     The initial proceeds of $1,000 received by the
Company were expended in 1997 for research and development. The
Company has been inactive subsequently and has no employees as of
the date of this filing.

Item 2.  DESCRIPTION OF PROPERTIES

      The Company has no real properties or leasehold interests at
this time. The Company is not currently engaged in any real
estate activities.

      The Company's principal place of business is
located at 120 Adelaide Street West
Suite 1214, Toronto, Ontario Canada on a rent-free basis pursuant
to an oral agreement. It is anticipated that this arrangement
will be suitable for the needs of the Company for the foreseeable
future.


Item 3.  LEGAL PROCEEDINGS

      There is no litigation of any type whatsoever
pending or threatened by or against the Company, its officers
and/or its director.


Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     None.

<PAGE>


PART II.

Item 5.  MARKET FOR THE REGISTRANT'S COMMON EQUITY AND RELATED
STOCKHOLDER MATTERS

      There is currently no public trading market for our Common Stock.

      As of the date of filing this report there were 11 holders of record
of Common Stock.

      The Company has never paid a dividend on its common stock.
It is the Company's present policy to retain all earnings to
provide funds for the future growth of the Company.

Recent Sales Of Unregistered Securities

      The Company has not sold any securities within the past three
years that were not registered under the Securities Act.


Item 6.  MANAGEMENT'S PLAN OF OPERATION

     The Company has no revenues to date. Since inception, the
Company has been dependent upon the receipt of capital investment
or other financing to fund its continuing activities.

     At the present time the Company has no specific
consequential cash requirements because it is inactive. The
Company has no employees and does not plan to hire any employees.
The Company intends to use independent contractors for any work
that needs to be completed.  The Company is dependent upon
certain related parties to provide continued funding and capital
resources.

     Special Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 (the
"Reform Act") provides a safe harbor for forward-looking
statements made by or on behalf of the Company.  The Company and
its representatives may, from time to time, make written or
verbal forward-looking statements, including statements contained
in the Company's filings with the Securities and Exchange
Commission and in its reports to stockholders.  Generally, the
inclusion of the words "believe", "expect", "intend", "estimate",
"anticipate", "will", and similar expressions identify statements
that constitute "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 and that are intended to come
within the safe harbor protection provided by those sections.

     All statements addressing operating performance, events, or
developments that the Company expects or anticipates will occur
in the future, including statements relating to sales growth,
earnings or earnings per share growth, and market share, as well
as statements expressing optimism or pessimism about future
operating results (in particular, statements under Part II, Item
6, Management's Discussion and Analysis of Financial Condition
and Results of Operations), contain forward-looking statements
within the meaning of the Reform Act.  The forward-looking
statements are and will be based upon management's then-current
views and assumptions regarding future events and operating
performance, and are applicable only as of the dates of such
statements but there can be no assurance that the statement of
expectation or belief will result or be achieved or accomplished.
In addition, the Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.


<PAGE>

     By their nature, all forward-looking statements involve risk
and uncertainties.  Actual results may differ materially from
those contemplated by the forward-looking statements for a number
of reasons, including but not limited: competitive prices
pressures at both the wholesale and retail levels, changes in
market demand, changing interest rates, adverse weather
conditions that reduce sales at distributors, the risk of
assembly and manufacturing plant shutdowns due to storms or other
factors, the impact of marketing and cost-management programs,
and general economic, financial and business conditions.

Liquidity and Capital Resources

As of the date of this report, the Company has virtually no
capital resources and will rely upon the issuance of common stock
and additional capital contributions from shareholders to fund
administrative expenses pending acquisition of an operating
company. In the event such efforts are unsuccessful, contingent
plans have been arranged to provide for a shareholder to fund
required future filings under the 1934 Act, and existing
shareholders have expressed an interest in additional funding if
necessary to continue as a going concern.

We currently do not have enough cash to satisfy our minimum cash
requirements for the next twelve months. As reflected in the
accompanying financial statements, we are in the development
stage with limited operations. This raises substantial doubt
about our ability to continue as a going concern. Our ability to
continue as a going concern is dependent on our ability to raise
additional capital. The financial statements do not include any
adjustments that might be necessary if we are unable to continue
as a going concern.

Plan of Operation

During the next twelve months, the Company will actively seek out
and investigate possible business opportunities with the intent
to acquire or merge with one or more business ventures. Because
the Company has limited funds, it may be necessary for the
officers, directors or a willing shareholder to either advance
funds to the Company or to accrue expenses until such time as a
successful business consolidation can be made. Management intends
to hold expenses to a minimum. However, if the Company engages
outside advisors or consultants in its search for business
opportunities, it may be necessary for the Company to attempt to
raise additional funds.

As of the date hereof, the Company has not made any arrangements
or definitive agreements to use outside advisors or consultants
or to raise any capital. In the event the Company does need to
raise capital, most likely the only method available to the
Company would be the private sale of its securities. Because of
the nature of the Company as a development stage company, it is
unlikely that it could make a public sale of securities or be
able to borrow any significant sum from either a commercial or
private lender. There can be no assurance that the Company will
able to obtain additional funding when and if needed, or that
such funding, if available, can be obtained on terms acceptable
to the Company.

The Company does not intend to use any employees, with the
possible exception of part-time clerical assistance on an as-
needed basis. Outside advisors or consultants will be used only
if they can be obtained for minimal cost or on a deferred payment
basis. Management is convinced that it will be able to operate in
this manner and to continue its search for business opportunities
during the next twelve months.

<PAGE>

Recent Accounting Pronouncements

In February 2006 the FASB issued SFAS 155, "Accounting for
Certain Hybrid Financial Instruments" which amends SFAS No. 133
to narrow the scope exception for interest-only and principal-
only strips on debt instruments to include only such strips
representing rights to receive a specified portion of the
contractual interest or principal cash flows. SFAS No. 155 also
amends SFAS No. 140 to allow qualifying special-purpose entities
to hold a passive derivative financial instrument pertaining to
beneficial interests that it is a derivative financial
instrument. The Company will adopt SFAS No. 155 on January 1,
2007 and do not expect it to have a material effect on financial
position, results of operations, or cash flows.

In July 2006, the Financial Accounting Standards Board (FASB)
issued FASB Interpretation No. 48, ("FIN 48") "Accounting for
uncertainty in income taxes - an interpretation of SFAS No.
109." This Interpretation provides guidance for recognizing and
measuring uncertain tax positions, as defined in FASB No. 109,
"Accounting for income taxes." FIN 48 prescribes a threshold
condition that a tax position must meet for any of the benefit
of an uncertain tax position to be recognized in the financial
statements.  Guidance is also provided regarding derecognition,
classification and disclosure of uncertain tax positions.  FIN
48 is effective for fiscal years beginning after December 15,
2006. The Company does not expect that this Interpretation will
have a material impact on their financial position, results of
operations or cash flows.

In September 2006, the FASB issued SFAS No. 157 ("SFAS 157"),
"Fair Value Measurements." SFAS 157 clarifies the principle that
fair value should be based on the assumptions that market
participants would use when pricing an asset or liability.
Additionally, it establishes a fair value hierarchy that
prioritizes the information used to develop those assumptions.
SFAS 157 is effective for financial statements issued for fiscal
years beginning after November 15, 2007. The Company does not
expect the adoption of SFAS 157 to have a material impact on
their financial position, results of operations or cash flows.

In September 2006, the FASB issued SFAS No. 158 ("SFAS 158"),
Employers' Accounting for Defined Benefit Pension and Other
Postretirement Plans, an amendment of FASB Statements No. 87,
88, 106, and 132(R)." SFAS 158 requires employers to recognize
the underfunded or overfunded status of a defined benefit
postretirement plan as an asset or liability in its statement of
financial position and to recognize changes in the funded status
in the year in which the changes occur through accumulated other
comprehensive income. Additionally, SFAS 158 requires employers
to measure the funded status of a plan as of the date of its
year-end statement of financial position. The new reporting
requirements and related new footnote disclosure rules of SFAS
158 are effective for fiscal years ending after December 15,
2006. The new measurement date requirement applies for fiscal
years ending after December 15, 2008. The Company does not
expect the adoption of SFAS 158 to have a material impact on
their financial position, results of operations or cash flows.

<PAGE>

Item 7.  FINANCIAL STATEMENTS

     The Financial Statements are included with this report
commencing on page F-1.


Item 8.  CHANGES IN ACCOUNTANTS AND DISAGREEMENTS WITH
ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

     Not applicable.

Item 8A.  CONTROLS AND PROCEDURES

     The Company maintains disclosure controls and procedures
that are designed to ensure that information required to be
disclosed in the Company's Securities Exchange Act reports is
recorded, processed, summarized and reported within the time
periods specified in the SEC's rules and forms, and that such
information is accumulated and communicated to the Company's
management, including its Chief Executive Officer and Chief
Financial Officer, as appropriate, to allow timely decisions
regarding required disclosure.  In designing and evaluating the
disclosure controls and procedures, management recognized that
any controls and procedures, no matter how well designed and
operated, can provide only reasonable assurance of achieving the
desired control objectives, and management necessarily was
required to apply its judgment in evaluating the cost-benefit
relationship of possible controls and procedures.

<PAGE>

     During the 90-day period prior to the date of this report,
an evaluation was performed under the supervision and with the
participation of our Company's management, including the Chief
Executive Officer and the Chief Financial Officer, of the
effectiveness of the design and operation of the Company's
disclosure controls and procedures.  Based upon that evaluation,
the Chief Executive Officer and the Chief Financial Officer
concluded that the Company's disclosure controls and procedures
were effective.  Subsequent to the date of this evaluation, there
have been no significant changes in the Company's internal
controls or in other factors that could significantly affect
these controls, and no corrective actions taken with regard to
significant deficiencies or material weaknesses in such controls.


Item 8B.  OTHER INFORMATION
None.


PART III.

Item 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

Directors and Executive Officers

Our directors, executive officers and key employees are as
follows:


Name                     Age   Position                  Director Since

Matthew McNeally   42     Chief Executive Officer       2000

V. Terence Franzke 58     Chief Financial Officer       2004


Matthew McNeally has served as our Chief Executive Officer since
2000 and has also served as the Managing Director of Anglo
Offshore Inc. since 1995  Anglo Offshore Inc. is a boutique
merchant bank located in Toronto, Nassau and London, England.  It
is involved in fund management, venture capital and mergers and
acquisitions.  Mr. McNeally also concurrently serves as the Chief
Executive Officer of Financial Ventures, Inc., where he has served
since 2000.

V. Terence Franzke has served as our Chief Financial Officer since 2004.

Since 1986, Mr. Franzke has served as the President of Delray Capital
Corporation.  Delray Capital Corporation specializes in arranging debt and
equity funding by way of private placements, through limited partnerships
and by taking companies public through reverse take overs.  It also advises
in structuring plans desiged to obtain government assistance.  He also serves
as the CFO and a Director of Financial Ventures, Inc.



<PAGE>

Directors' Remuneration

Our directors are presently not compensated for serving on
the board of directors.


Executive Compensation

Employment Agreements

We have not entered into any employment agreements.

Audit Committee

The audit committee of our board of directors is comprised
of one director, V. Terence Franzke.  In addition, our board of directors
has determined that Mr. Franzke, as defined by the SEC rules, is both
independent and an audit committee financial expert.  Mr. Franzke has
extensive experience reading, analyzing, and preparing GAAP
financial statements and SEC reports and filings.

Code Of Ethics and Standards of Conduct

The Company has adopted a code of business conduct and ethics
applicable to the Company's directors, officers (including the
Company's principal executive officer, principal financial
officer and principal accounting officer), and employees, known
as the Code of Ethics and Standards of Conduct.

Section 16(a) Beneficial Ownership Reporting Compliance

The Company is not aware of any director, officer or
beneficial owner of more than ten percent of the Company's Common
Stock that, during the fiscal year covered by this report, failed to
file on a timely basis reports required by Section 16(a) of the
Securities Exchange Act of 1934.



Item 10. EXECUTIVE COMPENSATION

Summary Compensation Table

     The following table sets forth the total compensation paid
to or accrued for the fiscal years ended February 28, 2005, 2004 and
2003 to our Chief Executive Officer.  As no employees have ever
received a salary from the company we have not included any other
officers in the table.


<TABLE>
<CAPTION>

Annual Compensation


Name and                                              Other       Restricted     Securities                     All
Principal Position     Fiscal                         Annual         Stock       Underlying      LTIP          Other
                       Year    Salary     Bonus     Compensation     Awards      Options        Payouts    Compensations
------------------     ----    ------     -----     ------------  ----------     -----------    -------    -------------
<S>                    <C>     <C>        <C>       <C>           <C>            <C>            <C>        <C>

Matthew McNeally, CEO   2005    0          0         0             0              0              0           0

                        2004    0          0         0             0              0              0           0

                        2003    0          0         0             0              0              0           0

</TABLE>

Stock Option Grants in the past fiscal year

     We have not issued any grants of stock options in the past fiscal year.


Employment Agreements

     We have not entered into any employment agreements.


<PAGE>

Item 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth information regarding
beneficial ownership of our common stock as of the date of this
report, by (i) those shareholders known to be the beneficial
owners of more than five percent of the voting power of our
outstanding capital stock, (ii) each director, and (iii) all
executive officers and directors as a group:



Name and Address of                  Number of            Percent
Beneficial Owner                     Shares Owned         Owned


Barwick Holdings Ltd.                1,200,000            54.5
14 Rovert House
Market Street
P.O. Box CB 12345
Nassau Bahamas


Matthew McNeally                             0              0
C/O Capital Group One,
Inc.
120 Adelaide Street West
Suite 1214
Toronto, Ontario
Canada

V. Terence Franzke                           0              0
C/O Capital Group One,
Inc.
120 Adelaide Street West
Suite 1214
Toronto, Ontario
Canada

All Directors and Officers
as a Group (2 Persons)                        0              0


Item 12. CERTAIN TRANSACTIONS

     None

Item 13. EXHIBITS AND REPORTS ON FORM 8-K

     None


<PAGE>
                     CAPITAL GROUP ONE, INC.
                  (A Development Stage Company)
                     FINANCIAL STATEMENTS
                        FEBRUARY 28, 2005


<PAGE>

                             CONTENTS

                                                     PAGE
                                                     ----

      Report of Independent Registered Public
      Accounting Firm                                 F-1

      Financial Statements:

      Balance Sheet as of February 28, 2005           F-2

      Statements of Operations for the years
      ended February 28, 2005 and February 29,
      2004 and for the period from March 12,
      1997 (Inception) to February 28, 2005           F-3

      Statement of Changes in Stockholders'
      Equity for the period from March
      12, 1997 (Inception) to February 28, 2005
      (Unandited)                                     F-4

      Statements of Cash Flows for the years
      ended February 28, 2005 and February 29,
      2004 and for the period from March 12, 1997
      (Inception) to February 28, 2005                F-5

      Notes to Financial Statements                F-6 to F-9


<PAGE>

                   INDEPENDENT AUDITOR'S REPORT






REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To the Board of Directors of:
Capital Group One, Inc.

We have audited the accompanying balance sheet of Capital Group One,
Inc. (a  development stage company), as of February 28, 2005 and the
related statements of operations, changes in stockholders' equity
and cash flows for the year then ended.  The financial statements of
Capital Group One, Inc. for the period March 12, 1997 (Inception) to
February 28, 2004 were audited by other auditors whose report was
dated May 12, 2004. The financial statements are the responsibility
of the Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audit.

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

In our opinion, the financial statements referred to above present
fairly in all material respects, the financial position of Capital
Group One, Inc. as of February 28, 2005 and the results of its
operations and its cash flows for the year ended February 28, 2005
in conformity with accounting principles generally accepted in the
United States of Americana.

The accompanying financial statements have been prepared assuming
that the Company will continue as a going concern.  As discussed in
Note 4 to the financial statements.  The Company is in the
development stages with no operations.  These factors raise
substantial doubt about the Company's ability to continue as a going
concern.  Management's plans concerning these matters are also
described in Note 4.  The financial statements do not include any
adjustments that might result from the outcome of this uncertainty.


WEBB & COMPANY, P.A.

/s/ Webb & Company, P.A.

Boynton Beach, Florida
October 5, 2007



                         F-1


<PAGE>

                     CAPITAL GROUP ONE, INC.
                  (A Development Stage Company)
                          BALANCE SHEET
                        FEBRUARY 28, 2005


                              ------


CURRENT ASSETS
 Prepaid expense                               $  2,500
                                               ---------
TOTAL CURRENT ASSETS
                                               $  2,500
                                               ---------

TOTAL ASSETS                                   $   -
                                               =========


                   LIABILITIES AND STOCKHOLDERS' EQUITY
                   ------------------------------------


CURRENT LIABILITES
 Accounts payable                              $   150
                                               --------

TOTAL CURRENT LIABILITIES                      $   150
                                               --------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
 Common stock, $.001 par value, 50,000,000
  shares authorized, 2,200,000 shares
  issued and outstanding                         2,200
 Additional paid-in capital                     26,565
 Deficit accumulated during the development
  stage                                        (26,415)
                                               --------
TOTAL STOCKHOLDERS' EQUITY                     $ 2,350
                                               --------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY     $ 2,500
                                               ========

   Read accompanying Notes to Financial Statements.

                         F-2



<PAGE>

                                 CAPITAL GROUP ONE, INC.
                              (A Development Stage Company)
                                STATEMENTS OF OPERATIONS
                   YEARS ENDED FEBRUARY 28, 2005 AND FEBRUARY 29, 2004
                                           AND
            PERIOD FROM MARCH 12, 1997 (INCEPTION) THROUGH FEBRUARY 28, 2005



<TABLE>
<CAPTION>

                                                                              March 12,
                                                                                1997
                                          Year Ended       Year Ended       (Inception)
                                          February 28,     February 29,    to February 28,
                                             2005             2004              2005
                                          ------------     ------------    ---------------
<S>                                       <C>              <C>              <C>
OPERATING EXPENSES
 Professional fees                         $  5,175         $   -             $  5,175
 General and administrative                     350           8,100             21,240
                                           ---------        --------          ---------
TOTAL OPERATING EXPENSES                      5,525           8,100             26,415
                                           ---------        --------          ---------
LOSS FROM OPERATIONS                         (5,525)         (8,100)           (26,415)

PROVISION FOR INCOME TAXES                      -               -                  -

NET (LOSS)                                 $ (5,525)        $(8,100)          $(26,415)
                                           =========        ========          =========
(LOSS) PER SHARE                           $  (0.00)        $ (0.00)
                                           =========        ========

WEIGHTED AVERAGE NUMBER OF SHARES
 OUTSTANDING DURING THE PERIOD
 - BASIC AND DILUTED                      2,200,000        2,200,000
                                          ==========       ==========

</TABLE>


                     Read accompanying Notes to Financial Statements.


                                            F-3


<PAGE>

                                  CAPITAL GROUP ONE, INC.
                               (A Development Stage Company)
            CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
             PERIOD FROM MARCH 12, 1997 (INCEPTION) THROUGH FEBRUARY 28, 2005

<TABLE>
<CAPTION>

                                                                          Deficit
                                   Common Stock         Additional       Accumulated
                                 Number of    Par        Paid-in      During the Development   Subscription
                                 Shares      Value       Capital             Stage              Receivable     Total
                                 -------     -----      ---------           -------             ----------     -----
<S>                              <C>         <C>        <C>                 <C>                <C>

Balance March 12, 1997                  -      $  -       $   -               $   -              $   -        $   -
 (Inception)

Common shares issued for cash     1,000,000     1,000         -                   -                  -        $ 1,000

Common shares issued in exchange
 for note receivable              1,200,000     1,200         -                   -                  -          1,200

Reclassification of amount
 due to stockholder to
 additional paid-in capital            -         -           2,217                -                  -          2,217

Net loss                               -         -            -                 (4,417)              -         (4,417)
                                  ---------    ------      -------            ---------          --------     ---------
Balance - February 28, 2001       2,200,000     2,200        2,217              (4,417)              -            -

In kind contribution                   -          -            900                -                  -            900

Net loss 2002                          -          -           -                   (900)              -           (900)
                                  ---------    ------      -------            ---------          --------     ---------
Balance - February 28, 2002       2,200,000     2,200        3,117              (5,317)             -

In kind contribution                   -          -          7,473                -                 -             7,473

Net loss 2003                          -          -           -                 (7,473)             -            (7,473)
                                  ---------    ------      -------            ---------          --------     ---------
Balance - February 28, 2003       2,200,000    $2,200      $10,590            $(12,790)          $  -

In kind contribution                   -          -          9,300                -                 -             9,300

Net loss 2004                          -          -           -                 (8,100)             -           (8,100)
                                  ---------    ------      -------            ---------          --------     ---------
Balance - February 29, 2004       2,200,000     2,200       19,890             (20,890)             -            1,200

In kind contribution                   -          -          6,675                -                 -            6,675

Net loss 2005                          -          -           -                 (5,525)             -           (5,525)
                                  ---------    ------      -------            ---------          --------     ---------
Balance - February 28, 2005       2,200,000    $2,200      $26,565            $(26,415)          $  -            2,350
                                  =========    ======      =======            =========          ========     =========

</TABLE>

                     Read accompanying Notes to Financial Statements.
                                            F-4

                                    CAPITAL GROUP ONE, INC.
                                 (A Development Stage Company)
                                   STATEMENTS OF CASH FLOWS
                      YEARS ENDED FEBRUARY 28, 2005 AND FEBRUARY 29, 2004
                                              AND
               PERIOD FROM MARCH 12, 1997 (INCEPTION) THROUGH FEBRUARY 28, 2005


<TABLE>
<CAPTION>


                                                                                             March 12,
                                                                                               1997
                                                      Year Ended            Year Ended      (Inception)
                                                     February 28,          February 29,     to February 28,
                                                        2005                  2004              2005
                                                     ------------         --------------    ---------------
<S>                                                  <C>                  <C>               <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
 Net Loss                                              $(5,525)             $(8,100)             $(26,415)
  Adjustments to reconcile net loss to
  net cash used in operations
   In-kind contribution                                    -
  Changes in operating assets and liabilities:
   Increase in prepaid expenses                         (1,300)              (1,200)               (2,500)
   Increase in accounts payable                            150                  -                     150
                                                       --------             --------             ---------
Net Cash Provided by (Used In) Operating Activities     (6,675)              (9,300)              (28,765)
                                                       --------             --------             ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Repayment of stockholder loan                            -                    -                     -
                                                       --------             --------             ---------
Net Cash Provided by Investing Activities                  -                    -                     -
                                                       --------             --------             ---------


CASH FLOWS FROM FINANCING ACTIVITIES:
  Increase in additional paid-in capital                 6,675                9,300                26,565
  Proceeds from issuance of common stock                  -                    -                    2,200
                                                       --------             --------             ---------
NET CASH PROVIDED BY FINANCING ACTIVITIES                6,675                9,300                28,765
                                                       --------             --------             ---------
NET INCREASE (DECREASE) IN CASH                           -                    -                     -
Cash at Beginning of Period/Year                          -                    -                     -
                                                       --------             --------             ---------
Cash at End of Period/Year                             $  -                 $  -                $    -
                                                       ========             ========             =========



</TABLE>

             Read accompanying Notes to Financial Statements.

                                   F-5

<PAGE>

                    CAPITAL GROUP ONE, INC.
                 (A Development Stage Company)
                 NOTES TO FINANCIAL STATEMENTS
                       FEBRUARY 28, 2005



NOTE 1	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

(A) Organization

Capital Group One, Inc. was incorporated on March 12, 1997 under
the laws of the State of Florida. The Company is engaged in the
acquisition and renovation of foreclosed residential homes for
resale but is currently inactive. The Company's headquarters is
in Toronto, Ontario, Canada.

Activities during the development stage include developing the
business plan and raising capital.

(B) Cash and Cash Equivalents

For purposes of the cash flow statements, the Company considers
all highly liquid investments with original maturities of three
months or less at the time of purchase to be cash equivalents.

(C) Use of Estimates

In preparing financial statements in conformity with generally
accepted accounting principles, management is required to make
estimates and assumptions that affect the reported amounts of
assets and liabilities and the disclosure of contingent assets
and liabilities at the date of the financial statements and
revenues and expenses during the reported period.  Actual
results could differ from those estimates.

(D) Loss Per Share

Basic and diluted net loss per common share is computed based
upon the weighted average common shares outstanding as defined
by Financial Accounting Standards No. 128, "Earnings per Share."
As of February 28, 2005 and February 29, 2004, and for the
period from March 12, 1997 (inception) to February 28, 2005,
respectively, there were no common share equivalents
outstanding.

(E) Income Taxes

The Company accounts for income taxes under the Statement of
Financial Accounting Standards No. 109, "Accounting for Income
Taxes" ("Statement 109").  Under Statement 109, deferred tax
assets and liabilities 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.  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.  Under
Statement 109, the effect on deferred tax assets and liabilities
of a change in tax rates is recognized in income in the period
that includes the enactment date.

As of February 28, 2005, the Company has a net operating loss
carryforward of    approximately $26,415 available to offset
future taxable income through 2025. The valuation allowance at
February 28, 2005 was $4,921. The net change in the valuation
allowance for the year ended February 28, 2005 was an increase
of $1,029.


(F) Business Segments

The Company operates in one segment and therefore segment
information is not presented.

(G) Recent Accounting Pronouncements

In February 2006 the FASB issued SFAS 155, "Accounting for
Certain Hybrid Financial Instruments" which amends SFAS No. 133
to narrow the scope exception for interest-only and principal-
only strips on debt instruments to include only such strips
representing rights to receive a specified portion of the
contractual interest or principal cash flows. SFAS No. 155 also
amends SFAS No. 140 to allow qualifying special-purpose entities
to hold a passive derivative financial instrument pertaining to
beneficial interests that it is a derivative financial
instrument. The Company will adopt SFAS No. 155 on January 1,
2007 and do not expect it to have a material effect on financial
position, results of operations, or cash flows.

                               F-6

<PAGE>

                    CAPITAL GROUP ONE, INC.
                 (A Development Stage Company)
                 NOTES TO FINANCIAL STATEMENTS
                       FEBRUARY 28, 2005

 In July 2006, the Financial Accounting Standards Board (FASB)
issued FASB Interpretation No. 48, ("FIN 48") "Accounting for
uncertainty in income taxes - an interpretation of SFAS No.
109." This Interpretation provides guidance for recognizing and
measuring uncertain tax positions, as defined in FASB No. 109,
"Accounting for income taxes." FIN 48 prescribes a threshold
condition that a tax position must meet for any of the benefit
of an uncertain tax position to be recognized in the financial
statements.  Guidance is also provided regarding derecognition,
classification and disclosure of uncertain tax positions.  FIN
48 is effective for fiscal years beginning after December 15,
2006. The Company does not expect that this Interpretation will
have a material impact on their financial position, results of
operations or cash flows.

 In September 2006, the FASB issued SFAS No. 157 ("SFAS 157"),
"Fair Value Measurements." SFAS 157 clarifies the principle that
fair value should be based on the assumptions that market
participants would use when pricing an asset or liability.
Additionally, it establishes a fair value hierarchy that
prioritizes the information used to develop those assumptions.
SFAS 157 is effective for financial statements issued for fiscal
years beginning after November 15, 2007. The Company does not
expect the adoption of SFAS 157 to have a material impact on
their financial position, results of operations or cash flows.

 In September 2006, the FASB issued SFAS No. 158 ("SFAS 158"),
Employers' Accounting for Defined Benefit Pension and Other
Postretirement Plans, an amendment of FASB Statements No. 87,
88, 106, and 132(R)." SFAS 158 requires employers to recognize
the underfunded or overfunded status of a defined benefit
postretirement plan as an asset or liability in its statement of
financial position and to recognize changes in the funded status
in the year in which the changes occur through accumulated other
comprehensive income. Additionally, SFAS 158 requires employers
to measure the funded status of a plan as of the date of its
year-end statement of financial position. The new reporting
requirements and related new footnote disclosure rules of SFAS
158 are effective for fiscal years ending after December 15,
2006. The new measurement date requirement applies for fiscal
years ending after December 15, 2008. The Company does not
expect the adoption of SFAS 158 to have a material impact on
their financial position, results of operations or cash flows.


NOTE 2	STOCKHOLDERS' DEFICIENCY

(A) Common Stock Issued for Cash

On March 20, 1997, the Company issued 1,000,000 shares of common
stock to its founders for cash of $1,000 ($0.001 per share).

During 1997, the Company exchanged 1,200,000 shares of common
stock in exchange for note receivable of $1,200 ($0.001 per
share).

During 2000 the Company received $1,200 as payment for a note
receivable.

(C) In-Kind Contribution

During 2001, 2002, 2003, 2004, and 2005 the stockholder of the
Company paid $2,217; $900; $7,473; $9,300; and $6,675
respectively, of operating expenses on behalf of the Company
(See Note 3).

                                   F-7

<PAGE>

                    CAPITAL GROUP ONE, INC.
                 (A Development Stage Company)
                 NOTES TO FINANCIAL STATEMENTS
                       FEBRUARY 28, 2005


NOTE 3	RELATED PARTY TRANSACTIONS

A stockholder of the Company paid $26,525 of expenses on behalf
of the Company from inception (See Note 2).

NOTE 4	GOING CONCERN

As reflected in the accompanying unaudited financial statements,
the Company is in the development stage with no operations.
This raises substantial doubt about its ability to continue as a
going concern.  The ability of the Company to continue as a
going concern is dependent on the Company's ability to raise
additional capital and implement its business plan.  The
financial statements do not include any adjustments that might
be necessary if the Company is unable to continue as a going
concern.

NOTE 5	SUBSEQUENT EVENT

During 2007, the Corporation offered up to $200,000 principal
amount of Debentures. The debentures mature five years from the
date of the issuance, bear interest of 7% per annum payable
annually and are secured by all the assets of the Company.  This
Debenture may be repaid by the Corporation at any time, in
whole, and not in part, prior to the Maturity Date on the
following basis ("Repayment"):  (i) if repaid on or before the
first anniversary of the Closing Date ("First Anniversary") at a
rate of 101% of the Principal amount of the Debenture plus all
accrued and unpaid Interest to and including the date of
Repayment; (ii) if repaid after the First Anniversary and on or
before the second anniversary ("Second Anniversary") of the
Closing Date at a rate of 102% of the Principal amount of the
Debenture plus all accrued and unpaid Interest to and including
the date of Repayment; (iii) if repaid after the Second
Anniversary and on or before the third anniversary ("Third
Anniversary") of the Closing Date at a rate of 103% of the
Principal amount of the Debenture plus all accrued and unpaid
Interest to and including the date of Repayment; (vi) if repaid
after the Third Anniversary and on or before the fourth
anniversary ("Fourth Anniversary") of the Closing Date at a rate
of 104% of the Principal amount of the Debenture plus all
accrued and unpaid Interest to and including the date of
Repayment; and (v) if repaid after the Fourth Anniversary and
prior to the Maturity Date at a rate of 105% of the Principal
amount of the Debenture plus all accrued and unpaid Interest to
and including the date of Repayment.  As of July 3, 2007 the
Company has issued $75,000 in Debentures.



                               F-8

<PAGE>




                                Signatures

In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on October 15, 2007.

              CAPITAL GROUP ONE, INC.

        By:     /s/ Matthew McNeally
              -------------------------
		Matthew McNeally
		Chief Executive Officer


	In accordance with the requirements of the Exchange Act, this
report has been signed by the following persons on behalf of the
registrant and in the capacities indicated on December 4, 2003.

By:     /s/ Matthew McNeally       Chief Executive Officer
      ------------------------
	Matthew McNeally


By:     /s/ V. Terence Franzke     Chief Financial Officer
      ------------------------
        V. Terence Franzke