UNITED STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington, D.C.
20549
  FORM
10-Q/A
  Amendment
No. 1
  [X]
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES ACT OF
1934:
  For
the Quarterly Period ended March 31, 2008
  [  ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE EXCHANGE
ACT
  For the
transition period from __________________ to __________________
 
 Commission
File Number: 0-52407
 
 ENVIROSAFE
CORPORATION
  (Exact
name of registrant as specified in its charter)
 
 Delaware
              94-3251254(State
      or other jurisdiction of
              (IRS
      Employer Identification No.)incorporation
      or organization)
  8/F,
Tower B, National Software Industry Zone,
 Gao
Tang Xin Jian Zone, Tian He District
 Guangzhou,
P.R.China  510663
 (Address
of principal executive offices)
 
 (8620)
6108-8998 - Tel
 (8620)
6108-8999 - Fax
 (Issuer's
telephone number)
  Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act 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 is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.
  Large
accelerated filer [
]                                                                           Accelerated
filer   [ ]
  Non-accelerated
filer  [
]                                                                           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]
 
 As of the
close of business on April 28, 2008, 2,141,375 shares of our common stock, par
value $.0001 per share, were outstanding.
 
 As of the
close of business on April 28, 2008, no shares of our preferred stock, par value
$.0001 per share, were outstanding.
 
 
 
 Copies
to:
 Jared P.
Febbroriello, Esq. LL.M. - Principal
 JPF
Securities Law, LLC
 19720
Jetton Road, 3rd Floor
 Cornelius,
NC 28031
 Phone:
(704) 897-8334
 Fax:
(888) 608-5705
 
 
 CAUTIONARY
STATEMENT REGARDING FORWARD LOOKING INFORMATION
 
 The
discussion contained in this 10-Q under the Securities Exchange Act of 1934, as
amended, contains forward-looking statements that involve risks and
uncertainties. The issuer's actual results could differ significantly from those
discussed herein. These include statements about our expectations, beliefs,
intentions or strategies for the future, which we indicate by words or phrases
such as "anticipate," "expect," "intend," "plan," "will," "we believe," "the
Company believes," "management believes" and similar language, including those
set forth in the discussions under "Notes to Financial Statements" and
"Management's Discussion and Analysis or Plan of Operation" as well as those
discussed elsewhere in this Form 10-Q. We base our forward-looking statements on
information currently available to us, and we assume no obligation to update
them. Statements contained in this Form 10-Q that are not historical facts are
forward-looking statements that are subject to the "safe harbor" created by the
Private Securities Litigation Reform Act of 1995.




TABLE
OF CONTENTS
  PART
      I  FINANCIAL INFORMATIONItem
      1.  Financial Statements.•
      Balance Sheet
              3•
      Statements of Operations
              4•
      Statements of Cash Flows
              5•
      Condensed Notes to Financial Statements
              61.
      Organization and Basis for Presentation
              62.
      Summary of Significant Accounting Policies
              63.
      Earnings (Loss) Per Common Share
              64.
      Income Taxes
              7Item
      2.  Management’s Discussion and Analysis of Financial Condition and
      Results of Operations•
      Overview
              8•
      Overall Operating Results
              9•
      Financial Position and Liquidity
              9•
      Going Concern
              9Item
      3.  Controls and Procedures
              9Forward-Looking
      Statements
              9PART
      II  OTHER INFORMATIONItem
      1. Legal Proceedings
              10Item
      2. Unregistered Sales of Equity Securities and Use of
    Proceeds
              10Item
      3. Defaults Upon Senior Securities
              10Item
      4. Submission of Matters to a Vote of Security Holder
              10Item
      5. Other Information
              10Item
      6. Exhibits and Reports on Form 8-K
              10SIGNATURES
              12
 2
 Table of Contents
  Item
1.  Financial Statements.
  ENVIROSAFE
      CORPORATIONBALANCE
    SHEETMARCH 31,
    2008AssetsCurrent
    assets:Cash and cash
      equivalents
              
              $
              —Total current
      assets
              
              
              —Total
assets
              
              $
              —Liabilities and Shareholders’
      DeficitCurrent
      liabilities:Accounts payable and accrued
      expenses
              
              $
              10,000Total current
      liabilities
              
              
              10,000Commitments and contingencies
      (note 8)Shareholders’
      deficit:Common stock, $0.0001 par.
      Authorized 500,000,000 shares;issued and outstanding 2,141,375
      shares at March 31, 2008
              
              
              214Preferred stock, $0.0001 par.
      Authorized 10,000,000 shares;no shares issued and outstanding
      at March 31, 2008
              
              
              —Additional paid in
      capital
              
              
              2,312,230Retained
      deficit
              
              
              (2,322,444
              )Total shareholders'
      deficit
              
              
              (10,000
              )Total liabilities and
      shareholders’ deficit
              
              $
              0See accompanying notes to
      financial statements.
  3
 Table of Contents
  ENVIROSAFE
      CORPORATIONSTATEMENTS OF
      OPERATIONSFOR THE THREE MONTHS ENDED MARCH
      31, 2008 AND 2007For the Three
      MonthsEnded March
    31,2008
              
              
              2007REVENUESSales
              
              $
              -
              
              
              $
              -Cost of
    sales
              
              
              -
              
              
              
              -GROSS
PROFIT
              
              
              -
              
              
              
              -OPERATING
      EXPENSESGeneral and administrative
      expenses
              
              
              -
              
              
              
              62Professional
      fees
              
              
              -
              
              
              
              150,545TOTAL OPERATING
      EXPENSES
              
              
              -
              
              
              
              150,607OPERATING
      (LOSS)
              
              
              -
              
              
              
              (150,607
              )OTHER INCOME
      (EXPENSE)Interest
      expense
              
              
              -
              
              
              
              -NET (LOSS) BEFORE
      TAXES
              
              
              -
              
              
              
              (150,607
              )NET (LOSS)
              
              
              -
              
              
              $
              (150,607
              )NET LOSS PER COMMON
      SHAREBasic and fully
      diluted
              
              $
              -
              
              
              $
              (0.13
              )WEIGHTED AVERAGE COMMON SHARES
      OUTSTANDING
              
              
              2,141,375
              
              
              
              1,123,731The accompanying notes are an
      integral part of these financial
  statements.
  4
 Table of Contents
  ENVIROSAFE
      CORPORATIONSTATEMENTS OF CASH
      FLOWSFOR THE THREE MONTHS ENDING MARCH
      31, 2008 AND 20072008
                
                
                2007Cash flows from operating
      activities:Net (loss)
                
                $
                —
                
                
                $
                (150,607
                )Adjustments to reconcile net loss
      to net cash (used in)operating
      activities:Issuance of common stock for
      services rendered
                
                
                —
                
                
                
                150,544Changes in operating assets and
      liabilities:Accounts payable and accrued
      expenses
                
                
                —
                
                
                
                (8,867
                )Net cash (used) in operating
      activities
                
                
                —
                
                
                
                (8,930
                )Net increase (decrease) in cash
      and cash equivalents
                
                
                —
                
                
                
                (8,930
                )Cash and cash equivalents at
      beginning of period
                
                
                —
                
                
                
                8,951Cash and cash equivalents at end
      of period
                
                $
                —
                
                
                $
                21Supplemental disclosure of
      non-cash information:Common stock issued for
      services
                
                $
                -
                
                
                $
                150,544See accompanying notes to
      financial statements.
  5
 Table of Contents
 
 ENVIROSAFE CORPORATION
 NOTES TO
UNAUDITED CONDENSED FINANCIAL STATEMENTS
 For the
Three Months Ended March 31, 2008 and 2006
  1.Basis of
Presentation
 
 The
accompanying unaudited condensed financial statements have been prepared in
accordance with both generally accepted accounting principles for interim
financial information, and the instructions to Form 10-QSB and Item 310(b) of
Regulation S-B. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements. The accompanying unaudited condensed financial statements
reflect all adjustments (consisting of normal recurring accruals) that are, in
the opinion of management, considered necessary for a fair presentation of the
results for the interim periods presented. Interim results are not necessarily
indicative of results for a full year.
 
 The
unaudited condensed financial statements and related disclosures have been
prepared with the presumption that users of the interim financial information
have read or have access to our annual audited financial statements for the
preceding fiscal year. Accordingly, these unaudited condensed financial
statements should be read in conjunction with the financial statements and the
related notes thereto contained in the Annual Report on Form 10-KSB for the
year ended December 31, 2007.
 
 2.Organization and Business
Background
 
 We were
incorporated in the state of Delaware in 1996. We were formed to produce a
comprehensive suite of disinfecting, cleaning, and bioremediation products for
the consumer, commercial, institutional and municipal markets. We were not
successful in developing this business model and had very limited
revenues.
 
 In 2007,
former management resigned and was replaced by a new board and new officers and
directors. Recognizing the need to increase
shareholder  value,  the  new  Board was
determined that the only way to enhance
shareholder  value  was  to  seek  potential  business
opportunities and effect a
business  combination  with  a target business
with significant growth potential
which,  in  the  opinion  of  our
management, could provide a profit to both the Company and our
shareholders.
 
 As of
March 4, 2008, we executed a Plan of Exchange (the "Agreement"), between and
among us, ADDE EDUCATION HLDS LTD., a corporation organized and existing under
the laws ofHong Kong Special Administrative Region
of People’s Republic of China("ADDE"), the
shareholders of ADDE (the "ADDE Shareholders") and our majority shareholder (the
"EVSF Shareholders").
  Pursuant
to the terms of the Agreement, the transaction will not immediately close but
shall be conditioned upon: (1)
EVSF shall eliminate all know or potential liabilities of EVSF as of the closing
date. This shall include, but is not limited to, any accounts payable, accrued
expenses, as well as any liabilities shown on its annual report for the fiscal
year of 2007 in FORM 10-KSB filed with the Securities and Exchange Commission prior to the
closing; (2)
EVSF  and EVSF shareholders shall pledge that any expenses concerning
any known or unknown lawsuits, legal disputes or any correlation expenses caused
by original EVSF Corporation and their shareholders, EVSF shallundertake full responsibility and
afford the correlation expenses after theclosing.A comfort letter
referencing  EVSF prepared by a third party law firm confirming that
to the best of their knowledge after reasonable due diligence, EVSF has no
pending or threatened litigation; (3) a deposit of 632,253 shares of common
stock of EVSF into the escrow account of Greentree Financial Group, Inc.
("Escrow Agent") in exchange for the cash payment of $260,000 and $260,000
promissory note made by ADDE Shareholders to Guoqiang Zhan ("Mr. Zhan"), the new
president of EVSF, which shall also be simultaneously deposited into the escrow
account of escrow agent, (4) the issuance of 20,000,000 new shares of common
stock and 1,350,000 new shares of preferred stock of EVSF to the ADDE
shareholders, which should take no longer than 60 days, (5) the resignation of
Mr. Zhan from the board of directors and as officer of EVSF and appointment of
his successor(s) as designated by ADDE and/or the ADDE Shareholders, (6) a
pledge of 10,000,000 shares of EVSF common stock to be used as collateral on the
above mentioned promissory note, (7) a fully executed guarantee of the
promissory note from EVSF in favor of Mr. Zhan. Upon completion of the exchange,
ADDE will be our 100% owned subsidiary.
  Upon the
delivery of 20,632,253 shares of common stock (including 632,253 common shares
from the EVSF Shareholders), and 1,350,000 new shares of our preferred stock, to
ADDE Shareholders, ADDE Shareholders will hold a 'controlling interest' in us
representing approximately 93.2% of the then issued and outstanding our common
shares. Furthermore, the designees of ADDE will be appointed to the Board of
Directors after the closing. Subsequent to the appointment of ADDE designees,
our current management will resign from the Board of Directors.
  We have
agreed to use our best efforts to insure the escrow conditions under the escrow
agreement will be satisfied as promptly as practicable so that the closing
conditions under the agreement will occur. We expect that the closing will occur
in the second quarter of 2008. An additional current report on Form 8-K will be
filed after the closing.
 
 If we are
successful with the closing of this transaction, we will provide the detailed
business description and audited financials of the acquired company within the
time periods proscribed by the federal securities laws.
 
 3.Summary of Significant
Accounting Policies
 
 Cash and Cash
Equivalents
 
 We
consider all highly liquid debt instruments and other short-term investments
with an initial maturity of three months or less to be cash or cash
equivalents.
 
 We may in
the future maintain cash and cash equivalents with a financial institution that
exceeds the limit of insurability under the Federal Deposit Insurance
Corporation. Management’s evaluation of the financial strength of its financial
institution, we believe the risk of maintaining deposits in excess of federal
deposit limits at its financial institution is limited and does not pose a
material risk.
  Revenue
Recognition
 
 We record
our transactions under the accrual method of accounting whereby income is
recognized when the services are performed.
 
 Income
Taxes
 
 We
adopted the provisions of Statement of Financial Accounting Standards (“SFAS”)
No. 109, Accounting for Income Taxes. The Statement requires an asset and
liability approach for financial accounting and reporting of income taxes, and
the recognition of deferred tax assets and liabilities for the temporary
differences between the financial reporting bases and tax bases of our assets
and liabilities at enacted tax rates expected to be in effect when such amounts
are realized or settled.
 6
 Table of Contents
  ENVIROSAFE CORPORATION
 NOTES TO
UNAUDITED CONDENSED FINANCIAL STATEMENTS
 For the
Three Months Ended March 31, 2008 and 2006
 Use of
Estimates
 
 The
preparation of financial statements in conformity with the accounting principles
generally accepted in the Untied States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements, and the reported amounts of revenue and expenses
during the reporting period. Actual results could differ from those
estimates.
 
 Fair Value of Financial
Instruments
 
 The
carrying amounts reported in the balance sheets for cash and cash equivalents,
and accounts payable approximate fair value because of the immediate or
short-term maturity of these financial instruments. No other new accounting
pronouncement issued or effective has had or is expected to have a material
impact on the company’s financial statements.
 
 Stock-Based
Compensation
 
 We
measure compensation expense for our non-employee stock-based compensation under
the Financial Accounting Standards Board (FASB) Emerging Issues Task Force
(EITF) Issue No. 96-18, “Accountingfor Equity Instruments that are
Issued to Other Than Employees for Acquiring, or in Conjunction with Selling,
Goods or Services”. The fair value of the option issued is used to
measure the transaction, as this is more reliable than the fair value of the
services received. The fair value is measured at the value of our common stock
on the date that the commitment for performance by the counterparty has been
reached or the counterparty’s performance is complete. The fair value of the
equity instrument is charged directly to compensation expense and additional
paid-in capital.
  Common Stock Issued For
Other Than Cash
  Services
purchased and other transactions settled in our stock are recorded at the
estimated fair value of the stock issued if that value is more readily
determinable than the fair value of the consideration received.
 
 Recent Accounting
Pronouncements
 
 We have reviewed all recently issued,
but not yet effective, accounting pronouncements and do not believe the future
adoption of any such pronouncements may be expected to cause a material impact
on its financial condition or the results of its operations.
 
 In
February 2007, the FASB issued Statement of Financial Accounting Standard No.
159, “The Fair Value Option
for Financial Assets and Financial Liabilities” (“SFAS No. 159”). This
statement permits entities to choose to measure many financial instruments and
certain other items at fair value. Companies should report unrealized gains and
losses on items for which the fair value option has been elected in earnings at
each subsequent reporting date. This statement is effective as of the beginning
of an entity’s first fiscal year that begins after November 15, 2007. The
Company is currently assessing the potential impact, if any, for the adoption of
SFAS No.159 on its financial statements.
 
 In
December 2007, the FASB issued two new statements: (a.) SFAS No. 141(revised
2007), Business
Combinations, and (b.) No. 160, Noncontrolling Interests in
Consolidated Financial Statements. These statements are effective for
fiscal years beginning after December 15, 2008 and the application of these
standards will improve, simplify and converge internationally the accounting for
business combinations and the reporting of noncontrolling interests in financial
statements. The Company is in the process of evaluating the impact, if any, on
SFAS 141 (R) and SFAS 160 and does not anticipate that the adoption of these
standards will have any impact on its financial statements.
 
 (a.)  SFAS
No. 141 (R) requires an acquiring entity in a business combination to: (i)
recognize all (and only) the assets acquired and the liabilities assumed in the
transaction, (ii) establish an acquisition-date fair value as the measurement
objective for all assets acquired and the liabilities assumed, and (iii)
disclose to investors and other users all of the information they will need to
evaluate and understand the nature of, and the financial effect of, the business
combination, and, (iv) recognize and measure the goodwill acquired in the
business combination or a gain from a bargain purchase.
 
 (b.) SFAS
No. 160 will improve the relevance, comparability and transparency of financial
information provided to investors by requiring all entities to: (i) report
noncontrolling (minority) interests in subsidiaries in the same manner, as
equity but separate from the parent’s equity, in financial statements, (ii) net
income attributable to the parent and to the non-controlling interest must be
clearly identified and presented on the face of the statement of income, and
(iii) any changes in the parent’s ownership interest while the parent retains
the controlling financial interest in its subsidiary be accounted for
consistently.
 
 4.    
Income
Taxes
 
 Effective
July 14, 2000, we adopted the provisions of Statement of Financial Accounting
Standards (SFAS) No. 109, “Accounting for Income Taxes”. The statement requires
an asset and liability approach for financial accounting and reporting for
income taxes, and the recognition of deferred tax assets and liabilities for the
temporary differences between the financial reporting basis and tax basis of the
Company’s assets and liabilities at enacted tax rates expected to be in effect
when such amounts are realized or settled. Because of its history of losses, we
have not had any material federal or state income tax obligations. Due to the
anticipated use of net operating loss carryforwards to offset future year
income, no provision for income taxes was recorded for the three-month period
ended March 31, 2008. The Company’s net operating loss carryforwards totaled
($2,322,444) at March 31, 2008, expiring through March 31, 2028. When there has
been a change in an entity’s ownership, utilization of net operating loss
carryforwards may be limited. Because of the changes in the ownership of our
prior acquisitions, the use of these acquired net operating losses will be
limited and may not be available to offset future taxable income.
 
 There
were no provisions for income taxes for the three month period ended March 31,
2008.
 
 At March
31, 2008, deferred tax assets approximated the following:
  Deferred
      tax assets
              
              $
              970,000Valuation
      for deferred asset
              
              
              (970,000
              )Net
      deferred tax assets
              
              $
              —
  At March
31, 2008, we had accumulated deficits approximating $2,322,000, available to
offset future taxable income through 2028. We established valuation allowances
equal to the full amount of the deferred tax assets due to the uncertainty of
the utilization of the operating losses in the future period.
 
 7
 Table of Contents
  ENVIROSAFE CORPORATION
 NOTES TO
UNAUDITED CONDENSED FINANCIAL STATEMENTS
 For the
Three Months Ended March 31, 2008 and 2006
  5.    
Capital
Transactions
 
 On April
23, 2007, we performed a one-for-three-hundred (1:300) reverse stock split of
our outstanding shares of common stock. The number of our outstanding shares of
common stock at that date was reduced from 342,375,000 to 1,141,375 shares and
the par value of our common stock was unchanged at $0.0001. The financial
statements amounts and shares herein have been retroactively adjusted thereto
for the reverse split.
 
 6.    
Going
Concern
  Our
financial statements have been prepared on the basis that we will continue as a
going concern, which contemplates the realization of asset values and the
satisfaction of liabilities in the normal course of business. Certain conditions
indicate that we may be unable to continue as a going concern:
 
 ·
              We
      reported net losses of $-0- and $150,607, respectively for the three
      months ended March 31, 2008 and 2007.·
              At
      March 31, 2008, stockholder's deficit was ($10,000) and included an
      accumulated deficit of
($2,322,444).
 
 ·
              At
      March 31, 2008 there was a working capital deficit of
$10,000.·
              We
      have limited revenue prospects and have had no revenue in the past two
      years.
 
 ·
              Our
      ability to continue as a going concern is dependent upon our generating
      revenues and profit margins to cover cost of revenues and other operating
      expenses, generating positive cash flows from operations, obtaining debt
      or equity capital to fund expected negative operating cash flows and
      returning to profitable operations.·
              We
      may be forced to liquidate our assets and cease operations if we are
      unable to raise sufficient capital to support operations and to satisfy
      its obligations.
 
 In
connection with these issues, we are implementing the following operating and
management plans to in order to provide positive cash flow from operations
during the subsequent periods:
 
 ·
              Develop
      our primary business products and develop a customer base and production
      facilities and capacity to manufacture products.·
              Develop
      strategic partnerships with major companies to support our sales and
      marketing strategy, and production and manufacturing
    capacity.
 
 ·
              Negotiate
      with capital and debt funding sources to provide working capital to fund
      the growth and operations.
 
 Item 2.    Management’s Discussion and
Analysis of Financial Condition and Results of
Operations.
  The
following discussion and analysis provides information that management believes
may be useful in understanding our operating results, cash flows and financial
condition. This discussion should be read in conjunction with the unaudited
financial information and related notes included in this Form
10-QSB.
  The
following discussion contains various “Forward-Looking Statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. The readers are
referred to the statement entitled “Forward-Looking Statements” located at the
end of Part I of this report.
  We have
adopted the provisions of Statement of Financial Accounting Standard No. 123
(Revised 2004), Share-Based
Payment (SFAS No. 123R), and the new accounting standard for expensing
stock options, in the three months ended March 31, 2008. All financial results
presented in this Form 10-QSB include the impact of expensing stock
options.
 
 Overview
 
 Our
financial statements have been prepared on the basis that we will continue as a
going concern, which contemplates the realization of asset values and the
satisfaction of liabilities in the normal course of business. Certain conditions
indicate that we may be unable to continue as a going concern:
 
 - We
reported net losses of $-0- and $150,607 for the three months ended March 31,
2008 and 2007, respectively.
 
 - Net
cash used by in our operating activities was $-0- and $8,930 the three month
periods ended March 31, 2008 and 2007, respectively.
 
 - We are
unable to generate business opportunities.
 
 - At
March 31, 2008, stockholder's deficit was $(10,000) and included an accumulated
deficit of $(2,322,444).
 
 - At
March 31, 2008, there was a working capital deficit of $10,000.
 
 - We had
no revenues for the three months ended March 31, 2008 and 2007.
 
 We do not
expect positive cash flow from operations for the 2008 fiscal year and we may
require additional funding to cover expected negative cash flows until the end
of fiscal year 2008.
 
 Our
ability to continue as a going concern is dependent upon generating revenues and
gross profit margins to cover cost of services and other operating
expenses, generating positive cash flows from operations, obtaining debt or
equity capital to fund expected negative operating cash flows and returning us
to profitable operations.
  8
 Table of Contents
  Operating
results:
  We have
not generated any revenues during the three months ended March 31, 2008 and
2007.
 
 We
generated net losses of $-0- and $150,607 for the three months ended March 31,
2008 and 2007, respectively. The losses for the periods were due to general
and administrative expenses and the non-cash professional fees resulting
fromthe issuance of shares of
common stock for services rendered in 2007. These shares are fully discussed
above in previous sections herein.
 
 As of
March 31, 2008 we had accumulated $2,322,444 in operating losses that may, on a
limited basis, be offset against future taxable income. There are limitations on
the amount of net operating loss carryforwards that can be used. No tax benefit
has been reported in the financial statements.
  Financial Position and
Liquidity
  Total
assets were $-0- at March 31, 2008, no decrease from total assets at year-end
2007.
  Total
liabilities were $10,000 at March 31, 2008, compared to total liabilities of
$10,000 at year-end 2007. The liability was solely due to the 2007 audit
fee.
 As of
March 31, 2008 and at December 31, 2007, we had $-0- in cash and cash
equivalents.
 
 Going
Concern
  Our
financial statements have been prepared on the basis that we will continue as a
going concern, which contemplates the realization of asset values and the
satisfaction of liabilities in the normal course of business. Certain conditions
indicate that we may be unable to continue as a going concern:
 
 ·
              We
      reported net losses of $-0- and $150,607, respectively for the three
      months ended March 31, 2008 and 2007.·
              At
      March 31, 2008, stockholder's deficit was ($10,000) and included an
      accumulated deficit of
($2,322,444).
 ·
              At
      March 31, 2008 there was a working capital deficit of
$10,000.·
              We
      have limited revenue prospects and have had no revenue in the past two
      years.
 
 ·
              Our
      ability to continue as a going concern is dependent upon our generating
      revenues and profit margins to cover cost of revenues and other operating
      expenses, generating positive cash flows from operations, obtaining debt
      or equity capital to fund expected negative operating cash flows and
      returning to profitable operations.·
              We
      may be forced to liquidate our assets and cease operations if we are
      unable to raise sufficient capital to support operations and to satisfy
      its obligations.
 
 In
connection with these issues, we are implementing the following operating and
management plans to in order to provide positive cash flow from operations
during the subsequent periods:
 
 ·
              Develop
      our primary business products and develop a customer base and production
      facilities and capacity to manufacture products.·
              Develop
      strategic partnerships with major companies to support our sales and
      marketing strategy, and production and manufacturing
    capacity.
 
 ·
              Negotiate
      with capital and debt funding sources to provide working capital to fund
      the growth and operations.
  Item 3.    Controls and
Procedures.
  We
maintain disclosure controls and procedures designed to ensure that information
required to be disclosed in reports filed under the Securities Exchange Act of
1934 (“Exchange Act”) is recorded, processed, summarized and reported within the
specified time periods. Our Chief Executive Officer and our Chief Financial
Officer (collectively, the “Certifying Officers”) are responsible for
maintaining our disclosure controls and procedures. The controls and procedures
established by us are designed to provide reasonable assurance that information
required to be disclosed by the issuer in the reports that it files or submits
under the Exchange Act are recorded, processed, summarized and reported within
the time periods specified in the Commission’s rules and forms.
  During the six months ended June 30, 2008, our Certifying Officers
evaluated the effectiveness of our disclosure controls and procedures as of the
end of the period covered by this report. Based on the evaluation, the
Certifying Officers concluded that our disclosure controls and procedures were
effective to provide reasonable assurance that information required to be
disclosed by us in the reports that we file or submit under the Exchange Act is
recorded, processed, summarized and reported, within the time periods specified
in the applicable rules and forms, and that it is accumulated and communicated
to our management, including the Certifying Officers, as appropriate to allow
timely decisions regarding required disclosure. These conclusions
notwithstanding you are advised that no system is 100%
foolproof.
 
 Changes
in Internal Control over Financial Reporting
  There were no changes in the our
internal control over financial reporting that occurred during the period
covered by this report that have materially affected, or are reasonably likely
to materially affect, our internal control over financial
reporting .
 
 Forward-Looking
Statements
  This
Quarterly Report on Form 10-QSB, including “Management’s Discussion and Analysis
of Financial Condition and Results of Operation” in Item 2, contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements include expectations concerning
gross margin improvements, increasing raw material costs, contributions to our
U.S. and international pension and benefit plans, borrowing capacity, plans to
re-finance existing debt and favorable short-term liquidity requirements.
Without limiting the foregoing, words or phrases such as “will likely result,”
“are expected to,” “will continue,” “is anticipated,” “we believe,” “estimate,”
“project” (including the negative or variations thereof) or similar terminology,
generally identify forward-looking statements. Forward-looking statements may
also represent challenging goals for us. Management cautions that undue reliance
should not be placed on such forward-looking statements, which speak only as of
the date made.
  9
 Table of Contents
 
 PART II.
OTHER INFORMATION
  Item
1.        Legal
Proceedings.
 
 None.
 
 Item
2.        Unregistered Sales of Equity
Securities and Use of Proceeds.
 
 None.
 
 Item
3.        Defaults Upon Senior
Securities.
 
 None.
 
 Item
4.        Submission of Matters to a
Vote of Security Holders.
  None.
 
 Item
5.        Other
Information
 
 None
 
 Item
6.        Exhibits and Reports on Form
8-K
 
 (a)
              Exhibits
 
 (1)
              Exhibits:
      Exhibits required to be attached by Item 601 of Regulation S-B are listed
      in the Index to Exhibits Beginning on page 8 of this Form 10-QSB, which is
      incorporated herein by reference.
  Reports on Form 8-K filed in
the first quarter of 2008
  (1)
              On
      March 11, 2008, we filed a current report on Form 8-K under Item 1.01
      Entry Into A Material Definitive Agreement to announce that we and ADDE
      Education Hlds Ltd. entered into a Plan of Exchange.
 
 10
 Table of Contents
  INDEX
TO EXHIBITS
 
 Exhibit
  Number         
Description
 
 31.1                Rule 13a-14(a)/15d-14(a) Certifications of Guoqiang Zhan, CEO
and Chief Financial Officer
*
  32.1Section 1350
Certifications of Guoqiang Zhan, CEO and Chief Financial Officer
*
  * Filed
herewith.
 
 11
 
 SIGNATURE
  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.
  ENVIROSAFE
      CORPORATIONDate: April
      28, 2008
              By:
              /s/ Guoqiang
      ZhanGuoqiang
      Zhan