UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.  20549  FORM 10-K  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  (Mark One)  [x]  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the fiscal year endedAugust 31, 2012 or [  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the transition period fromto  Commission file number000-52445


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|ECO VENTURES GROUP, INC.                              
|(Exact name of registrant as specified in its charter)




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|Nevada                                                         |  | 33-1133537                            
|(State or other jurisdiction of
incorporation or organization) |  | (I. R. S. Employer
Identification No.)




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|7432 State Road 50, Suite 101 Groveland, FL | 34736     
|(Address of principal executive offices)    | (Zip Code)

Registrants telephone number, including area code(352) 557-4830  Securities registered pursuant to Section 12(b) of the Act:


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|Title of each class |  | Name of each exchange on which registered
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|Securities registered pursuant to Section 12(g) of the Act:
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|Common Stock, par value $0.001 per share                   
|(Title of Class)                                           




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|Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.                                                                                                                                                                                                                                                                | Yes [ ]  No [X]  
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|Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.                                                                                                                                                                                                                                                           | Yes [ ]  No [X]  
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|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 [  ] 
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|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 [  ]
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|Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not 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-K or any amendment to this Form 10-K.                      | [  ]             

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.


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




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|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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The aggregate market value of the common stock of the registrant held by non-affiliates as of February 29, 2012 the last business day of the registrants most recently completed second fiscal quarter based on the closing sale prices of the registrants  common stock on that date as reported on the Over the Counter Bulletin Board was $2,456,500. For purposes of this computation, all officers, directors, and 5 percent beneficial owners of the registrant are deemed to be affiliates.  Such determination should not be deemed an admission that such directors, officers, or 5 percent beneficial owners are, in fact, affiliates of the registrant.  As of December 19, 2012, there were 39,542,609 shares of registrants common stock issued and 6,947,609 shares outstanding.  Page 2  TABLE OF CONTENTS


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|PART I                                                                                                               | PAGE
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|Item 1. Business                                                                                                     | 5   
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|Item 1A. Risk Factors                                                                                                | 10  
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|Risks Relating to Our Company                                                                                        | 10  
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|Risks Associated with Our Common Stock in General                                                                    | 12  
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|Item 1B.  Unresolved Staff Comments                                                                                  | 13  
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|Item 2. Properties                                                                                                   | 14  
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|Item 3. Legal Proceedings                                                                                            | 14  
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|Item 4.  Mine Safety Disclosures                                                                                     | 14  
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|PART II                                                                                                              |     
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|Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 14  
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|Item 6. Selected Financial Data                                                                                      | 16  
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|Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operations                        | 17  
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|Item 7A. Quantitative and Qualitative Disclosures About Market Risk                                                  | 23  
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|Item 8. Financial Statements and Supplementary Data                                                                  | 23  
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|Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                         | 23  
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|Item 9A. Controls and Procedures                                                                                     | 23  
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|PART III                                                                                                             |     
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|Item 10. Directors, Executive Officers and Corporate Governance                                                      | 25  
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|Item 11. Executive Compensation                                                                                      | 28  
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|Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters              | 30  
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|Item 13. Certain Relationships and Related Transactions, and Director Independence                                   | 30  
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|Item 14. Principal Accountant Fees and Services                                                                      | 31  
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|PART IV                                                                                                              |     
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|Item 15. Exhibits and Financial Statement Schedules                                                                  | 33  
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|SIGNATURES                                                                                                           | 33  
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|EXHIBIT INDEX                                                                                                        | 34  

Page 3  This document (including information incorporated herein by reference) contains 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, which involve a degree of risk and uncertainty due to various factors affecting Eco Ventures Group, Inc. For a discussion of some of these factors, see the discussion in Item 1A, Risk Factors, of this report.  PART I  Forward-Looking Statements  Certain statements contained in this report (including information incorporated by reference) are forward-looking statements or management projections of future events.  Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Such risks include, but are not limited to: the ability of our Company to obtain necessary financing; the prices of gold, silver and other commodities; currency fluctuations; metallurgical assumptions; operating performance of equipment, processes and facilities; labor relations; timing of receipt of necessary governmental permits or approvals; domestic laws or regulations, particularly relating to the environment and mining; domestic and international economic and political conditions; and other risks and hazards associated with mining operations. More detailed information regarding these factors is included in Item 1, Business, Item 1A, Risk Factors, and elsewhere throughout this report. Given these uncertainties, readers are cautioned not to place undue reliance on our forward-looking statements.  All subsequent written and oral forward-looking statements attributable to our Company or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Eco Ventures Group, Inc. (EVG or the Company) disclaims any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.  These would include:   Statements regarding future earnings;   Estimates of future mineral production and sales, and biodiesel production and sales, for specific operations and on a consolidated or equity basis;   Estimates of future costs applicable to sales, other expenses and taxes for specific operations and on a consolidated basis;   Estimates of future cash flows;   Estimates of future capital expenditures and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding thereof;   Estimates regarding timing of future capital expenditures, construction, production or closure activities;   Statements regarding the availability and costs related to future borrowing, debt repayment and financing;   Statements regarding modifications to hedge and derivative positions;   Statements regarding future transactions;   Statements regarding the impacts of changes in the legal and regulatory environment in which we operate; and   Estimates of future costs and other liabilities for certain environmental matters.   Page 4  Available Information  Eco Ventures Group, Inc. maintains an internet website at www.ecoventuresgroup.com.  Our Company makes available, free of charge, through the Investor Information section of the web site, its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Section 16 filings and all amendments to those reports, as soon as reasonably practicable after such material is electronically filed with the Securities and Exchange Commission. Our Code of Business Ethics and Conduct are available on the web site.  Any of the foregoing information is available in print to any stockholder who requests it by contacting Eco Ventures Group Investor Relations Department at (352) 557-4830.  All references in this Form 10-K that refer to the Company, Eco Ventures Group, Inc., Eco Ventures - Nevada, Registrant, EVG, we, us or our are to Eco Ventures Group, Inc., a Nevada formed corporation formerly known as Modern Renewable Technologies, Inc. and unless otherwise differentiated, its subsidiary, Eco Ventures Group, Inc. a Florida formed corporation (Eco Ventures  Florida).  All references to Eco Ventures Group, Inc. - Florida or Eco Ventures  Florida are to our subsidiary, Eco Ventures Group, Inc., a Florida formed corporation.


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|Item 1. | Business

BACKGROUND  Eco Ventures Group, Inc. (EVG or the Company) is a family of ecologically-friendly and economically sound business ventures committed to providing for societys growing energy and renewable resource needs -- building shareholder value and profiting from the efficient use of new green technologies. EVG concentrates on two planned core business activities. EVGI's Eco Energy Group focuses on the production of advanced biodiesel from recovered cooking oils and oil rich plants.  Eco Minerals Recovery Group specializes in the extraction of precious metals from ore bodies and reclaimed mine tailings.  To date, neither of our business groups has generated any revenue.  Company Background  We were incorporated on April 5, 2002 under the laws of the State of Nevada as Aztek Ventures Inc. Effective November 13, 2007, we filed a Certificate of Amendment to our Articles of Incorporation to change our name from Aztek Ventures Inc. to Genesis Uranium Corp. Effective April 21, 2008, we amended our Articles of Incorporation to change our name from Genesis Uranium Corp. to Vault Technology Inc. to reflect the change in our business focus beyond solely that of uranium exploration. Effective July 10, 2009, we filed a Certificate of Amendment to our Articles of Incorporation to change our name from Vault Technology, Inc. to Modern Renewable Technologies, Inc. (Modern).  Merger Agreement  On May 27, 2011, Modern, merged with Eco Ventures Group, Inc., (Eco Ventures- Florida) a privately held company formed on November 9, 2010 (date of inception) under the laws of the State of Florida (the Merger Agreement or the Merger).  Under the terms of the Merger Agreement, shareholders of Eco Ventures - Florida exchanged an aggregate of seventy percent (70%) of Eco Ventures  Floridas issued and outstanding capital stock in exchange for 1,537,500 (including 125,000 shares issued to consultants and 95,000 shares issued to officers) restricted shares of Moderns authorized but unissued capital stock.  As a condition to the Merger Agreement, 422,158 shares of Modern shall be issued to the Holders of the Registrants outstanding convertible debentures.  The Merger was consummated on June 1, 2011.  In connection with the Merger, Modern changed its name to Eco Ventures Group, Inc. (Eco Ventures  Nevada or the Registrant).  The transaction has been accounted for in substance as a reverse acquisition of the Registrant by Eco Ventures  Florida since the stockholders of Eco Ventures  Florida owned a majority of the Registrants voting power immediately following the Merger Transaction and Eco Ventures  Floridas management has assumed operational, management and governance control.  For accounting purposes, Eco Ventures  Florida shall be the accounting acquirer and or the surviving entity.  Accordingly, the historical financial statements are those of Eco Ventures  Florida, the accounting acquirer, immediately following the consummation of the reverse merger.   Page 5  Upon completion of the Merger Transaction on June 1, 2011, our name was changed to Eco Ventures Group, Inc.  As a result, our OTC Bulletin Board symbol became EVGI as of June 6, 2011.  The Companys current business operations and facilities are located in Groveland, FL.  In 2011 EVG entered into to an exclusive strategic joint venture with Raptor Technology Group, Inc. of Groveland, FL to commercialize patent pending and proprietary technologies in the fields of efficient precious metals recovery.  EVG and Raptor have completed construction of a 5,000 concentrated ton per year mineral recovery facility.  However, at the present time this extraction process is not economically viable and the Company has decided to suspend operations on its mineral extraction division and focus it efforts on the Eco Energy Group division.  EVG also entered into an agreement for Raptor to build a biodiesel facility in Groveland utilizing their technology and know how. This technology makes use of a lower cost feedstock than the current industry standard.  EVG is in the process of bringing these biodiesel production technologies to market. The combination is projected to provide Eco Ventures Group profits both in the near and long term, using projections based on current market conditions and costs.  The Companys biofuel production facilities are strategically located close to large marine and land transport shipping hubs for sales of biodiesel fuel.  On July 30, 2012, the Board of Directors of Eco Ventures Group, Inc. (OTCBB: EVGI)(the Company) ratified a definitive Reorganization Agreement (the Agreement) between the Company and Energiepark Supitz GmbH (Energiepark) whereby the Company will acquire 75% of the Shares of Energiepark in exchange for Shares of the Company which, upon issuance, will constitute 30% of the issued and outstanding Shares of Common Stock of the Company (the Acquisition Shares), and cash consideration of $3,000,000.  The Company has the option to acquire the remaining 25% of the Shares of Energiepark at a price which will be equal to 25% of the net value of the combined companies, as defined in the Agreement.  The Agreement was signed and notarized by Energiepark, in accordance with German law, on August 1, 2012.  Per the agreement, the Company has until February 24, 2013 to complete the acquisition.  The Company is currently reviewing term sheets, but has not nor confirmed funding.  Our principal offices are located at 7432 State Road 50, Suite 101, Groveland, FL 34736, and our telephone number is (352) 557-4830.  Our common stock is quoted on the OTC Bulletin Board System under the symbol EVGI.  Our corporate website is www.ecoventuresgroup.com.  TERMS AND DEFINITIONS  BioDiesel  Biodiesel is a renewable, clean-burning diesel replacement made from an increasingly diverse mix of resources such as agricultural oils, recycled cooking oil and animal fats, with a host of potential future feedstocks such as algae under research. It is the first and only commercial-scale fuel being produced nationwide to meet the EPAs definition as an advanced biofuel under the agencys Renewable Fuel Program, which is aimed at spurring development of sustainable alternatives to oil.  The EPA has determined that biodiesel reduces greenhouse gas emissions by 57 percent to 86 percent compared with petroleum diesel, depending on the feedstock used. Biodiesel also has the highest energy balance of any domestic, liquid fuel, yielding 4 1⁄2 units of energy for every unit of fossil energy it takes to produce it. The EPA also says biodiesel dramatically reduces nearly every toxic air pollutant compared with traditional diesel.  Crushing  Crushers are machines that use a metal surface to break or compress materials.  Mining operations use crushers, commonly classified by the degree to which they fragment the starting material, with primary and secondary crushers handling course materials, and tertiary and quaternary crushers reducing ore particles to finer gradations.  Each crusher is designed to work with a certain maximum size of raw material, and often delivers its output to a screening machine which sorts and directs the product for further processing.  Typically, crushing stages are followed by milling stages if the materials need to be further reduced.  Crushers are used to reduce particle size enough so that the material can be processed into finer particles in a grinder.   Page 6  Extracting Metals (Hydrometallurgy)  Hydrometallurgy involves the use of aqueous solutions to extract metals or compounds from their ores, or from mineralized waste materials from mines.  Some hydrometallurgical processes include leaching, precipitation of insoluble compounds, or pressure reduction.  Biohydrometallurgy is a sub topic of hydrometallurgy; this uses microbes to extract metals or metal compounds from the raw ore.  Leaching  Due to the difference in the dissolution rates, it is possible to separate the compounds of different metals. Often, some oxidative reagents need to be added to promote leaching.  Leaching involves the use of aqueous solutions, which is brought into contact with a material containing a valuable metal. .  In the leaching process, oxidation potential, temperature, and pH of the solution are important parameters, and are often manipulated to optimize dissolution of the desired metal component into the aqueous phase.  The three basic leaching techniques are in-situ leaching, heap leaching, and vat leaching. The Companys patent pending photo catalytic oxidation system allows the enhancement of the acids capability of leaching the gold,platinum, palladium and silver from ore.  This process may also use a grinding technology prior to leaching in which we take the ore to a -40 micron size to enhance surface area for the leaching.  (Reference to a grain of salt is 400 microns).   OUR BUSINESS GROUPS  Our business operations have been internally divided into two working groups, neither of which are independent legal entities.  To date, we have not generated any revenues from either business group.  ECO ENERGY GROUP  Eco Energy Group (EEG) is a business group of EVG which is dedicated to the cost-effective production of biodiesel from multiple low-cost feedstocks by using bio refinery technologies.  EEG is near completion of its initial 3.6 million gallon facility in Groveland, FL, which processes biofuels from oil-rich plants and recovered cooking oils. EVGs batch reactor will initially run on recycled cooking oils as a feedstock, termed yellow grease.   The Company will seek to secure reliable and cost-effective supplies of this feedstock.  EVG will need to obtain additional financing in order to complete this facility and make it operational.  Future plans include adding a $4M Advanced Biofuel Reactor facility that will produce 3 million gallons per year of biodiesel annually.   The company expects to generate revenue by selling its biofuels at or near spot market prices.  Feedstock makes up the single largest cost of producing biodiesel. EEGs process is able to use much less expensive feedstock to remain competitive with the prices of petroleum diesel.  EVG and Raptor Technology Group (Raptor) have entered into a joint venture agreement in which the Companies will share in the first Advanced Biofuel facilitys gross revenue 50% / 50%. Additionally, the companies have entered into a management agreement whereby Raptor will manage EVGs 3.6 million gallon per year biofuel facility in exchange for fifteen percent (15%) of the net revenue receipts.  How Our Process Works  In the production of biodiesel from various feedstocks, (e.g. vegetable oils, rapeseed, waste and cooking oil materials) there are several techniques used to convert the materials to biodiesel, including primarily methyl esters.  For the most part, vegetable and rendered animal fats contain a mixture of triglycerides (TG) and free fatty acids (FFA).  With refined vegetable oils (e.g. soybean oil, canola oil), the oil consists predominately of TG materials.  In the case of the combined mixture of used vegetable oils (from cooking) and animal fats, there may also be quantities of FFA materials.  The amount of FFA in a used oil or animal fat depends to some extent on the age of the material, the extent of pretreatment, and the previous use of the material.  In oils and fats that have been used as feedstocks for the production of biodiesel, FFA contents have ranged from near 0% to values in excess of 30% FFA (by weight).  Feedstocks consisting of greater than 90% FFA have also been processed in advanced conversion systems, although these are considered lower grade feedstock.   Page 7  As the industry has developed, two basic methodologies have evolved for the treatment of the various feedstocks:  base catalyst trans-esterification and two stage acid/base-esterification/trans-esterification.  For feeds that contain little or no FFA content (i.e. typically less than 2% FFA/weight), the "base catalyst trans-esterification" can be used.  In this approach, the feedstock is first prepared for use in the process using a variety of methods, and then mixed with a solution of methyl alcohol (methanol) and a "base" catalyst.  This catalyst can consist of sodium methoxide (or methylate) (NaOCH3); sodium hydroxide (NaOH); or potassium hydroxide (KOH).  In the base catalyst reaction, the oil reacts with the methanol, in the presence of the catalyst at elevated temperatures, and the TG fraction is converted to biodiesel, i.e. methyl ester.  As the conversion proceeds, a co-product consisting of glycerin is produced.  An excess of methanol is used in the reaction to ensure efficient conversion.  Further, the reaction can be carried out at atmospheric or elevated pressures in either batch or continuous modes.  In the "two-stage acid/base-esterification/trans-esterification" approach, the higher FFA feed is first pretreated and is then contacted with a mixture of methanol and an acid catalyst.  Typically sulfuric acid is used as the acid catalyst, although other materials have been looked at.  In the acid catalyst step, the FFA content in the feedstock is "esterified" via the reaction of the methanol with the FFA in the presence of the catalyst.  Contained TG components are primarily unaffected in the acid catalysis step. The reaction is generally carried out at elevated temperatures and can be conducted in batch or continuous reactors at atmospheric or elevated pressures.  After the esterification (i.e. 1st stage reaction), the mixture is treated to allow for separation of the co-products that can form in this reaction, (predominantly water).  The recovered TG/ester (produced from the FFA) fraction is then transferred to a second stage.  In the 2nd stage of the process, the TG/ester is mixed with the base catalyst, and a trans-esterification reaction carried out. This step is similar to the technique used in the base catalyst process, wherein only the trans-esterification stage was employed.  As in the first case, co-product glycerin is formed and any FFA remaining after the 1st stage is converted to soaps.  The biodiesel and glycerin fractions are eventually separated and treated as outlined in the base catalyst summary.  Advanced Biofuel Reactor Technology  Now consider a similar situation wherein the methanol is heated, but is in a container that keeps the solution under pressure.  In this case, when the solution starts to boil, the vapor enters the vapor phase; pressure builds up, and the methanol stops boiling.  As the temperature is further increased, the pressure will also increase (in the closed container) and the solution, while well above the "atmospheric boiling point" will not boil.  This is the same principle as that used in a conventional "pressure cooker".  In the pressure cooker case, an enclosed vessel is used with a pressure control regulator that will only allow the pressure to build up to a certain point.  As the liquid heats to the "atmospheric boiling point", for example that associated with elevated conditions, it will not boil due to the pressure control device, and the liquid continues to heat until it reaches the temperature associated with the pressure that is allowed by the pressure control device.  In this manner, liquids can be made to boil at a higher temperature than they normally would for the elevation under consideration. Applying this principle to methanol, wherein the solution is further heated in the enclosed vessel until the so-call "critical temperature" and "critical pressure" is reached (for methanol the critical temperature is about 464 degrees F and the critical pressure about 1142 psi).  Once these critical values have been reached (or exceeded), the properties of the fluid under consideration change markedly from the properties associated with the solution under "normal" (below critical) conditions.  The main characteristics of Advanced Reactor fluids are that they behave as both vapors and liquids and in some cases make excellent substitutes for other, more toxic, organic solvents.  As an example, supercritical carbon dioxide (CO2) is finding expanded uses in the food processing industries for use as a solvent (to replace more toxic materials).  The Advanced Reactor fluid can be an excellent penetrant (when acting somewhat as a vapor) as well as a useful solvent, especially when behaving as a liquid.   Page 8  Methanol, in the Advanced Reactor reaction approach, is mixed with the lower grade feedstock then fed into a specially designed Advanced Reactor reaction system.  The extent of pretreatment needed for the feedstock is less than that associated with the "conventional" single or 2 stage-processing methodologies.  No catalyst is used in this approach, and the methanol/feedstock mixture is then subjected to temperatures and pressures that are above the critical points in the reaction system.  Both continuous and batch reaction systems can be used depending on the volumes of feeds to be processed.  Under the conditions achieved at levels above advanced reaction, the methanol reacts with both the FFA content of the feed to convert it to a methyl ester, i.e. esterification, as well as with the contained TG portion of the feed for ester production, i.e. trans-esterification, both without the need for a separate catalyst.  As in the conventional approaches, both water (from the esterification reaction) and glycerin (from the trans-esterification reaction) are formed as co-products.  Note, however, that since there is no base catalyst used, the formation of potential soaps, via base catalyst reaction with any residual FFA components, is eliminated.  The reaction product mixture then exits the AR reaction system and enters the post-treatment section of the process.  Typically, the post-treatment would involve energy recovery, to minimize overall energy consumption; separation of the biodiesel (methyl ester) from the glycerin phase; and potential biodiesel final treatment (normally distillation) to produce a high quality product.  In this manner, a relatively straightforward process approach is used to treat very low quality or highly variable feedstock materials.  Further, the use of the advanced reactor step, followed by biodiesel post-treatment, allows for close quality control and minimized effects of any feedstock changes or process variations.  ECO MINERALS RECOVERY GROUP  Eco Minerals Recovery Group (EMRG) is the division that utilizes its proprietary technology for the extraction of precious metals from ore bodies and reclaimed mine tailings (mineralized waste materials).  Our process isolates and recovers precious minerals like gold, silver, platinum, palladium and rare earth oxides.   It is the companys intent to generate operating revenues by selling these recovered precious minerals to third parties.  However, at the present time this extraction process is not economically viable and the 
Company has decided to suspend operations on its mineral extraction division and focus it efforts on the Eco Energy Group division.  Employees  There were two people employed by our Company on a full-time basis as of August 31, 2012, including Randall Lanham, our Chief Executive Officer, and Paul Smith, our President and CFO.  Additional technological experts provide services to the Company as independent contractors on a project basis.  Office and Manufacturing Facilities  Eco Ventures Groups operations and facilities are located in Groveland, FL, 25 miles West of Orlando, FL on State Road 50.  The Company has leased an office / warehouse complex with a large warehouse facility for its Mineral Recovery Operation and Bio-Diesel Operation. The warehouse contains the completed 5,000 ton per year facility, which is already plumbed for expansion to a 10,000 concentrated ton per year facility. The leases shall be for a period of Eleven (11) year term commencing April 1, 2011.  The Company has an option to extend the term of these leases for five successive periods of one year each with a 3.5% escalation clause upon each renewal.  Plans include constructing an additional 10,000 ton per year facility, as well as the 3-million gallon Advanced Biofuel Facility at the current location.       Page 9  Item 1A.  Risk Factors  An investment in our securities involves a high degree of risk. You should consider carefully the following risks, along with all of the other information included in this report, before deciding to buy our common stock. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also impair our business operations. If we are unable to prevent events that have a negative effect from occurring, then our business may suffer.  This report, including Managements Discussion and Analysis or Plan of Operation, contains forward-looking statements that may be materially affected by several risk factors, including those summarized below.  Risks Relating to Our Company and Our Industry  We have incurred losses since our inception date, November 9, 2010 and may never be profitable which raises doubt about our ability to continue as a going concern.  Since our inception date, November 9, 2010 through August 31, 2012, we have had nominal research and development operations and incurred operating losses. As of August 31, 2012, our accumulated deficit since inception was approximately $3,117,000. Our management continues to search for additional financing; however, considering the difficult U.S. and global economic conditions along with the substantial problems in the capital and credit markets, there is a significant possibility that we will be unable to obtain financing to continue our operations.  As we are in the beginning stages of our precious metals extraction and biofuel operations, we expect to incur additional losses in the foreseeable future, and such losses may continue to be significant. To become profitable, we must be successful in raising capital to continue with our business development and expansion.   We are uncertain as to when we will begin to receive any revenues from gold and precious metal extraction and biofuel production, if ever. Thus, we may never be profitable.  These circumstances raise substantial doubt about our ability to continue as a going concern as described in an explanatory paragraph to our independent registered public accounting firms report on our audited consolidated financial statements as of and for the period from November 9, 2010 (date of inception) through August 31, 2012. If we are unable to continue as a going concern, investors will likely lose all of their investment in our company. The consolidated financial statements included in this report do not include any adjustments that might result from the outcome of this uncertainty. Please see Item 7  Managements Discussion and Analysis of Financial Condition and Results of Operations  Liquidity and Capital Resources, for further information.  Fluctuating gold, metal and other precious metal prices could negatively impact our mineral extraction business plan.  The potential for profitability of our gold and other precious metal extraction operations will be directly related to the market prices of gold and the metals that we extract. Historically, gold and other mineral prices have widely fluctuated, and are influenced by a wide variety of factors, including inflation, currency fluctuations, regional and global demand and political and economic conditions. Fluctuations in the price of gold and other precious metals may have a significant influence on the market price of our common stock and a prolonged decline in these prices will have a negative effect on our results of operations and financial condition.  Fuel prices, raw material costs, and Government regulations could negatively impact the profitability of our biofuel production.  The potential for profitability of our biofuel operations will be directly related to the market prices of diesel fuel, the costs of our feedstock, and future demand for biofuels.  In addition, Government regulations and the potential loss of existing Federal tax credits for biofuel production could have negative effect on the profitability of our biofuel production.   Fluctuations in the price of and demand for biofuels may have a significant influence on the market price of our common stock and a prolonged decline in price and demand will have a negative effect on our results of operations and financial condition.   Page 10  Past mining activities of others are subject to environmental risks, which could expose us to significant liability and delay, suspension or termination of our operations.  Mining, precious metal extraction and exploitation activities, as well as production of biofuel, are subject to federal, state and local laws, regulations and policies, including laws regulating the removal of natural resources from the ground and the discharge of materials into the environment. These regulations mandate, among other things, the maintenance of air and water quality standards and land reclamation. They also set forth limitations on the generation, transportation, storage and disposal of solid and hazardous waste. Exploration and exploitation activities are also subject to federal, state and local laws and regulations which seek to maintain health and safety standards by regulating the design and use of exploration methods and equipment.  Environmental and other legal standards imposed by federal, state or local authorities are constantly evolving, and typically in a manner which will require stricter standards and enforcement, and increased fines and penalties for non-compliance. Such changes may prevent us from conducting planned activities or increase our costs of doing so, which would have material adverse effects on our business. Moreover, compliance with such laws may cause substantial delays or require capital outlays in excess of those anticipated, thus causing an adverse effect on us. Additionally, we may be subject to liability for pollution or other environmental damages that we may not be able to or elect not to insure against due to prohibitive premium costs and other reasons. Unknown environmental hazards may exist on the CGFI Properties, or we may acquire properties in the future that have unknown environmental issues caused by previous owners or operators, or that may have occurred naturally.  Our industry is highly competitive, attractive mineral properties and raw materials are scarce and we may not be able to obtain quality properties or raw materials.  We compete with many companies in the mineral and precious metal extraction industry, including large, established mining companies with capabilities, personnel and financial resources that far exceed our limited resources. In addition, there is a limited supply of desirable raw material for our extraction operations. We are at a competitive disadvantage in acquiring mineral properties and raw materials, since we compete with these larger individuals and companies, many of which have greater financial resources and larger technical staffs. Our inability to compete with other companies for these resources would have a material adverse effect on our results of operation and business.  We depend on our Chief Executive Officer and President/Chief Financial Officer and the loss of these individuals could adversely affect our business.  Our company is dependent for its day-to-day operations on our Chief Executive Officer, Randall Lanham, and on our President and Chief Financial Officer, Mark Cox, both of whom are also members of our Board of Directors. As of the date of this report, we only employed seven other individuals, in addition to contracted consultants/experts.   Thus, the loss of either Messrs. Lanham or Cox could significantly and adversely affect our business.  At the present time we do not carry any key-man life insurance on the lives of either Messrs. Lanham or Cox.  The nature of our precious metals extraction and Biofuel production activities involves a high degree of risk and the possibility of uninsured losses that could materially and adversely affect our operations.  Our business operations are highly speculative and involve greater risk than many other businesses. We are subject to all of the operating hazards and risks normally incident to developing and exploiting mineral properties such as, but not limited to:  • economically insufficient mineralized material available for our production requirements; • fluctuations in production costs that may make precious metal extraction uneconomical; • fluctuations in oil prices and governmental subsidies which may make Biofuels uneconomical; • unanticipated variations in the quality or quantity of our raw materials; • environmental hazards; • delays in the delivery of the raw materials necessary for our operations; • difficult surface or underground conditions affecting extraction of our raw materials; • industrial accidents; personal injury, fire, flooding, and business interruptions; • metallurgical and other processing problems; • mechanical and equipment performance problems; and • decreases in revenues and reserves due to lower gold and precious metal prices.  Page 11  Any of these risks can materially and adversely affect, among other things, the development of properties, production quantities and rates, costs and expenditures and production commencement dates. We currently have no insurance to guard against any of these risks. If we determine that capitalized costs associated with any of our mineral interests are not likely to be recovered, we would incur a write-down of our investment in these interests. All of these factors may result in losses in relation to amounts spent which are not recoverable.  Our operations are subject to governmental permitting requirements which could require us to delay, suspend or terminate our operations.  Our operations, including the mining and shipping of raw materials, extraction of precious metals from mine tailings, and our production, sale and shipping of biofuels, require permits from local, state and federal governments. We may be unable to obtain these permits in a timely manner, on reasonable terms or at all. If we cannot obtain or maintain the necessary permits, or if there is a delay in receiving these permits, our timetable and business plan will be adversely affected.  Risks Associated with Our Common Stock in General  Trading on the OTC Bulletin Board may be volatile and sporadic, which could depress the market price of our common stock and make it difficult for our stockholders to resell their shares.  Our common stock is quoted on the OTC Bulletin Board service of the Financial Industry Regulatory Authority (FINRA). Trading in stock quoted on the OTC Bulletin Board is often thin and characterized by wide fluctuations in trading price due to many factors that may have little to do with our operations or business prospects. This volatility could depress the market price of our common stock for reasons unrelated to operating performance. Moreover, the OTC Bulletin Board is not a stock exchange, and trading of securities on the OTC Bulletin Board is often more sporadic than the trading of securities listed on other stock exchanges such as the NASDAQ Stock Market, New York Stock Exchange or American Stock Exchange. Accordingly, our shareholders may have difficulty reselling any of their shares.  Our stock is a penny stock. Trading of our stock may be restricted by the SECs penny stock regulations and the FINRAs sales practice requirements, which may limit a stockholders ability to buy and sell our stock.  Our stock is a penny stock. The SEC has adopted Rule 15g-9 which generally defines 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 SEC which provides information about penny stocks and the nature and level of risks in the penny stock market. The broker-dealer must also 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 or willingness of broker-dealers to trade our securities. We believe that the penny stock rules discourage broker-dealer and investor interest in, and limit the marketability of, our common stock.  FINRA sales practice requirements may also limit a stockholders ability to buy and sell our stock.  In addition to the penny stock rules promulgated by the SEC, which are discussed in the immediately preceding risk factor, FINRA rules 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 price securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customers financial  Page 12  status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA believes that there is a high probability that speculative low price 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 the ability to buy and sell our stock and have an adverse effect on the market value for our shares.  We have never paid a cash dividend on our common stock and we do not anticipate paying any in the foreseeable future.  We have not paid a cash dividend on our common stock to date, and we do not intend to pay cash dividends in the foreseeable future. Our ability to pay dividends will depend on our ability to successfully develop one or more properties and generate revenue from operations. Notwithstanding, we will likely elect to retain any earnings, if any, to finance our growth. Future dividends may also be limited by bank loan agreements or other financing instruments that we may enter into in the future. The declaration and payment of dividends will be at the discretion of our Board of Directors.  Present Shareholders Will Maintain Control of the Company.  The current executive officers, directors and shareholders holding greater than 5% of the Company currently hold, directly or indirectly, stock representing 92% of the 35,606,841 Shares of Common  Stock of the Company, which are issued as of August 31, 2012, on a fully diluted basis. These shareholders will continue to determine the outcome of corporate actions requiring shareholder approval, including the election of directors until such time as their shares are diluted through subsequent offerings.  Uncertainty of Future Funding of Capital Requirements; Possible Future Dilution; Possible Future Debt.  The Companys future capital requirements will depend on many factors, including the extent to which the Companys operations are profitable, competition and the economy in general.  The Company may require additional capital resources and there is no assurance such capital will be available to the extent required, on terms acceptable to the Company or at all. Any such future capital requirements could result in the issuance of securities, which would be dilutive to existing stockholders.  If adequate financing is not available, the Company may be required to delay, scale back or eliminate certain of aspects of its business plan.  Any inability to obtain additional financing, if required, would have a material adverse effect on the Companys business and prospects.  We have not voluntarily implemented various corporate governance measures, in the absence of which, shareholders may have more limited protections against interested director transactions, conflicts of interest and similar matters.  Recent federal legislation, including the Sarbanes-Oxley Act of 2002, has resulted in the adoption of various corporate governance measures designed to promote the integrity of the corporate management and the securities markets. Some of these measures have been adopted in response to legal requirements. Others have been adopted by companies in response to the requirements of national securities exchanges, such as the NYSE or The NASDAQ Stock Market, on which their securities are listed. Among the corporate governance measures that are required under the rules of national securities exchanges and NASDAQ are those that address board of directors independence, audit committee oversight and the adoption of a code of ethics. While our Board of Directors has adopted a Code of Ethics and Business Conduct, we have not yet adopted any of these corporate governance measures and, since our securities are not listed on a national securities exchange or NASDAQ, we are not required to do so. It is possible that if we were to adopt some or all of these corporate governance measures, shareholders would benefit from somewhat greater assurances that internal corporate decisions were being made by disinterested directors and that policies had been implemented to define responsible conduct. For example, in the absence of audit, nominating and compensation committees comprised of at least a majority of independent directors, decisions concerning matters such as compensation packages to our senior officers and recommendations for director nominees may be made by a majority of directors who have an interest in the outcome of the matters being decided. Prospective investors should bear in mind our current lack of corporate governance measures in formulating their investment decisions.    Item 1B.     Unresolved Staff Comments  None.   Page 13  Item 2. Properties  Eco Ventures Groups initial headquarters, operations and manufacturing facilities are located at 7432 State Road 50, Suite 101,  Groveland, FL, in a light-industrial complex 25 miles west of Orlando, FL.  The company has leased an office / warehouse complex with a large warehouse facility for its Mineral Recovery Operation and Bio-Diesel Operation. The warehouse contains the completed 5,000 ton per year facility, which is already plumbed for expansion to a 10,000 concentrated ton per year facility.  The leases shall be for a period of Eleven (11) year term commencing April 1, 2011.  The Company has an option to extend the term of these leases for five successive periods of one year each with a 3.5% escalation clause upon each renewal.  Plans include constructing an additional 25,000 ton per year facility, as well as the 3-million gallon Advanced Biofuel Facility at the current location  Item 3.  Legal Proceedings    We are not currently a party in any legal proceeding or governmental regulatory proceeding nor are we currently aware of any pending or potential legal proceeding or governmental regulatory proceeding proposed to be initiated against us.    Item 4.  Mine Safety Disclosures  Not applicable.   PART II


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|Item 5. | Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market Information  Eco Ventures Group, Inc. (formerly, Modern Renewable Technologies, Inc.) common stock is quoted on the OTC Bulletin Board (OTC/BB) under the symbol EVGI.OB. Our shares originally commenced quotation under the symbol AZTV on May 1, 2007. Prior to May 1, 2007, no public trading market existed for our common stock. Our symbol was changed to AZVN on July 9, 2007 upon completion of our 2.5 -for-1 stock split. Subsequently, our symbol was changed to GEUR on November 16, 2007 after our name change from Aztek Ventures Inc. to Genesis Uranium Corp. Effective April 21, 2008, we changed our name from Genesis Uranium Corp. to Vault Technology, Inc., effective July 10, 2009, we filed a Certificate of Amendment to our Articles of Incorporation to change our name from Vault Technology, Inc. to Modern Renewable Technologies, Inc.. and also completed a 70 to1 reverse split. As a result, our OTC Bulletin Board symbol was changed to MRNZ as of September 17, 2009. Effective on October 4, 2010 we completed a further 100 to 1 reverse split.   The name of the Company was changed to Eco Ventures Group, Inc. on June 1, 2011 and has traded under the symbol EVGI.OB since June 6, 2011.  On July 12, 2012 the Company effected a forty to one (40-1) reverse stock split.  The table below sets forth the high and low sales prices for our common stock for the periods indicated as reported by the OTCBB. Sales prices represent prices between dealers, do not include retail markups, markdowns or commissions and do not necessarily represent prices at which actual transactions were effected.*  Period EndingHighLowCloseAugust 31, 2012$0.88$0.88$0.88May 31, 20120.140.120.12February 29, 20124.002.404.00November 30, 20113.602.803.60August 31, 201140.4038.4034.80May 31, 2011600.0044.0044.00February 28, 2011200.00200.00200.00November 30, 2010200.00200.00200.00  *The above quotations have been adjusted to reflect our 40 to 1 reverse split effective July 12, 2012.  Page 14  On August 31, 2012 the last reported sales price of our common stock as reported on the OTCBB was $0.88 per share.   As of August 31, 2012, there were 110 reported holders of record of our common stock and a total of 35,606,841 shares of Common Stock issued.  We have never paid a cash dividend. Payment of future dividends, if any, will be at the discretion of our Board of Directors after taking into account various factors, including the terms of any credit arrangements, our financial condition, operating results, current and anticipated cash needs and plans for growth. Our initial earnings, if any, will likely be retained to finance our growth. At the present time, we are not party to any agreement that would limit our ability to pay dividends.  The Securities Enforcement and Penny Stock Reform Act of 1990  The Securities and Exchange Commission has adopted rules that regulate broker-dealer practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with prices of less than $5.00 (other than securities registered on certain national securities exchanges or quoted on the NASDAQ system, provided that current prices and volume information with respect to transactions in such securities is provided by the exchange or system). Our shares are currently subject to the penny stock rules.  A purchaser is purchasing penny stock which limits the ability to sell the stock. The classification of penny stock makes it more difficult for a broker-dealer to sell the stock into a secondary market, which makes it more difficult for a purchaser to liquidate his/her investment. Any broker-dealer engaged by the purchaser for the purpose of selling his or her shares in us will be subject to Rules 15g-1 through 15g-10 of the Securities and Exchange Act. Rather than creating a need to comply with those rules, some broker-dealers will refuse to attempt to sell penny stock.  The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized risk disclosure document prepared by the Commission, which:   contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading;   contains a description of the brokers or dealers duties to the customer and of the rights and remedies available to the customer with respect to a violation to such duties or other requirements of the Securities Act of 1934, as amended;   contains a brief, clear, narrative description of a dealer market, including bid and ask prices for penny stocks and the significance of the spread between the bid and ask prices;   contains a toll-free telephone number for inquiries on disciplinary actions;   defines significant terms in the disclosure document or in the conduct of trading penny stocks; and   contains such other information and is in such form (including language, type, size and format) as the Securities and Exchange Commission shall require by rule or regulation.   The broker-dealer also must provide, prior to effecting any transaction in a penny stock, to the customer:  the bid and offer quotations for the penny stock;   the compensation of the broker-dealer and its salesperson in the transaction;   the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and   monthly account statements showing the market value of each penny stock held in the customers account.  In addition, the penny stock rules require that prior to a transaction in a penny stock not otherwise exempt from those 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 acknowledgment of the receipt of a risk disclosure statement, a written agreement to  Page 15  transactions involving penny stocks, and a signed and dated copy of a written suitability statement. These disclosure requirements have the effect of reducing the trading activity in the secondary market for our stock. Thus, stockholders may have difficulty selling their securities.  Securities Authorized for Issuance under Equity Compensation Plans  Equity Compensation Plan Information  The following sets forth information for the equity compensation plans outstanding as of August 31, 2012 (including individual compensation arrangements) under which shares of our common stock are authorized for issuance:  Equity Compensation Plan Information  Number of securitiesto be issued uponWeighted averageNumber of securitiesexercise ofexercise price ofremaining available foroutstanding options,outstanding options,future issuance as ofPlan Categorywarrants and rightswarrants and rightsAugust 31, 2012Equity compensation plans approved by security holders:---Equity compensation plans not approved by security holders:---2011 Incentive Stock Option Plan--10,000,000  2011 Incentive Stock Option Plan  On July 26, 2011, the Board of Directors approved the 2011 Incentive Stock Option Plan (the 2011 Plan) which provides incentive stock and non-statutory options to be granted to select employees, directors and consultants of the Company. The 2011 Plan provides that awards may be granted for up to 10,000,000 shares of the Companys common share (subject to adjustment in case of a subdivision of our outstanding shares of Common Stock, recapitalization, stock dividend, or other change in our corporate structure that affects our Common Stock).  The purpose of the 2011 Plan is (i) to further our growth by allowing us to compensate employees and Directors who have provided bona fide services to our company through the award of shares of our Common Stock, and (ii) attract, motivate, retain and reward quality employees and directors to acquire or increase a proprietary interest in our company.  The 2011 Plan is administered by a committee consisting of at least two persons to be appointed by the Board of Directors, or in the absence of such a committee, the Plan is to be administered by the Board of Directors. Our Board of Directors appointed Paul Smith, our President and CFO, to the committee. Any of our employees or directors are eligible to receive awards under the Plan. We intend to register with the Securities and Exchange Commission the common shares issuable under the 2011 Incentive Stock Option Plan.  Transfer Agent  Empire Stock Transfer Co. is the transfer agent for our common stock. Their address is at 1859 Whitney Mesa Drive, Henderson, NV 89014.  Issuer purchase of equity securities  There were no issuer purchases of securities during the period covered by this report.   Item 6. Selected Financial Data.  Not required by smaller reporting companies.  Page 16  Item 7.  Managements Discussion and Analysis of Financial Condition and Results of Operations  The following discussion provides information that management believes is relevant to an assessment and understanding of the financial condition and results of operations of Eco Ventures Group, Inc. (the Company).  This discussion addresses matters we consider important for an understanding of our financial condition and results of operations as from November 9, 2010 (date of inception) through August 31, 2012, as well as our future results. It consists of the following subsections:  · Introduction and Plan of Operation which provides a brief summary of our consolidated results and financial position and the primary factors affecting those results, as well as a summary of our expectations for fiscal 2013; · Liquidity and Capital Resources, which contains a discussion of our cash flows and liquidity, investing activities and financing activities, contractual obligations, and critical obligations; · Results of Operations and Comparison, which sets forth an analysis of the operating results for the last two years; · Critical Accounting Policies, which provides an analysis of the accounting policies we consider critical because of their effect on the reported amounts of assets, liabilities, income and/or expenses in our consolidated financial statements and/or because they require difficult, subjective or complex judgments by our management; · Recent Accounting Pronouncements and Developments, which summarizes recently published authoritative accounting guidance, how it might apply to us and how it might affect our future results.  This item should be read in conjunction with our consolidated financial statements and the notes thereto included in this annual report.  Introduction and Plan of Operation  The following discussion updates our plan of operation for the 2013 Fiscal Year. The discussion also summarizes the results of our operations for the period from November 9, 2010 (date of inception) through August 31, 2012.  Merger Agreement  On May 27, 2011, the Company, formerly known as Modern Renewable Technologies, Inc., (Modern), a Nevada Corporation, merged with Eco Ventures Group, Inc. (Eco Ventures - Florida), a privately held company formed on November 9, 2010 (date of inception) under the laws of the State of Florida (the Merger Agreement or the Merger).  Under the terms of the Merger Agreement, shareholders of Eco Ventures - Florida exchanged an aggregate of seventy percent (70%) of Eco Ventures  Floridas issued and outstanding capital stock in exchange for 1,537,500 (including 125,000 shares issued to consultants and 95,000 shares issued to officers) restricted shares of Moderns authorized but unissued capital stock.  The Merger was consummated on June 1, 2011.  In connection with the Merger, Modern changed its name to Eco Ventures Group, Inc. (Eco Ventures  Nevada or the Registrant).  The transaction has been accounted for in substance as a reverse acquisition of the Registrant by Eco Ventures  Florida since the stockholders of Eco Ventures  Florida owned a majority of the Registrants voting power immediately following the Merger Transaction and Eco Ventures  Floridas management has assumed operational, management and governance control.  For accounting purposes, Eco Ventures  Florida shall be the accounting acquirer and or the surviving entity.  Accordingly, the historical financial statements are those of Eco Ventures  Florida, the accounting acquirer, immediately following the consummation of the reverse merger.  From November 9, 2010 through August 31, 2012, we experienced the negative effects of the financial markets upheaval, which made capital acquisition extremely difficult.   Our plan of operation for fiscal 2013 is to continue seeking funding for our operations and expansion of our biofuel operations.  On July 30, 2012, the Board of Directors of Eco Ventures Group, Inc. (OTCBB: EVGI)(the Company) ratified a definitive Reorganization Agreement (the Agreement) between the Company and Energiepark Supitz GmbH (Energiepark) whereby the Company will acquire 75% of the Shares of Energiepark in exchange for Shares of the Company which, upon issuance, will constitute 30% of the issued and outstanding Shares of Common Stock of the Company (the Acquisition Shares), and cash consideration of $3,000,000.  The Company has the option to acquire the remaining 25% of the Shares of Energiepark at a price which will be equal to 25% of the net value of the combined companies, as defined in the Agreement.  The Agreement was signed and notarized by Energiepark, in accordance with German law, on August 1, 2012.  Preliminary to the Energiepark Agreement, the Board of Directors on July  Page 17  27, 2012 ratified a Deal Flow Purchase Agreement with Ryze Capital, N.A. LLC whereby the Company issued into escrow, pending the Energiepark closing, a total of 28,750,000 Shares of Common Stock of the Company in exchange for the Ryze deal-flow with Energiepark and the Advance Biofuel Project License.  Pending the Energiepark closing the issued Shares are entitled to be voted by the Chairman of Eco Ventures Group, Inc.  Plan of Operations  We are presently in the development stage of our business operations and have not earned any revenues for the period from November 9, 2010 (date of inception) through August 31, 2012.  The Company will need to obtain additional financing during our current fiscal year ending August 31, 2013 in order to generate revenues.  Results of Operations  Year ended August 31, 2012 compared to the period from November 9, 2010 (date of inception) through August 31, 2011  Net loss  We incurred net loss of $3,260,801 and $630,061 for the year ended August 31, 2012 and for the period from November 9 (date of inception) through August 31, 2011, respectively. We incurred a net loss in the amount of $3,890,862 for the period from November 9, 2010 (date of inception) through August 31, 2012.  Operating expenses  For the year ended August 31, 2012 we incurred $267,058 in operating expenses as compared to $56,023 for the period from November 9, 2010 (date of inception) through August 31, 2011. Operating expenses for the year ended August 31, 2012 increased by $211,035 from prior year primarily due to full year operations as compared to partial year operations.  Operating expenses were comprised primarily of the rental space, approximately $188,000 and related costs of approximately $79,000 for our production facility for the year ended August 31, 2012 as compared to approximately $53,000 for rental and approximately $3,000 for other related costs for the period from November 9, 2010 (date of inception) through August 31, 2011.  General and administrative  For the year ended August 31, 2012, general and administrative costs were $2,311,620 as compared to $830,594 for the period from November 9, 2010 (date of inception) through August 31, 2011, increased by $1,481,026. General and administrative costs were primarily comprised of costs associated with starting operations and related salaries, overhead and travel expenses. As part of our general and administrative expenses, we incurred stock based compensation (non-cash) of $1,282,100 and $345,417 for services rendered during the fiscal year ended August 31, 2012 and for the period from November 9, 2010 (date of inception) through August 31, 2011, respectively, as compensation, which is the primary reason for the increase during the current fiscal year ended August 31, 2012.  Loss from Operations  For the year ended August 31, 2012 we incurred a loss from operations of $2,578,678 as compared to $886,617 for the period from November 9, 2010 (date of inception) through August 31, 2011 due to cost of operations and professional fees paid primarily as stock based compensation as discussed above.  Other income (expense):  Gain on forgiveness of debt.  Upon the completion of the reverse merger transaction, we determined certain liabilities have been forgiven by the creditors / shareholders, which is deemed as extinguished as of August 31, 2011.  Accordingly, the Company has recorded a gain on forgiveness of debt of $261,793 that related to the write-off of these extinguished liabilities for the period from November 9, 2010 (date of inception) through August 31, 2011.  Page 18  Loss on settlement of debt  For the year ended August 31, 2012, we incurred a loss on settlement of debt of $656,000 resulted from the issuance of 1,600,000 shares of our common stock, valued at $0.45 per share in settlement of the notes payable and accrued interest.  Interest expense  For the year ended August 31, 2012, we incurred $26,123 in interest expense on demand notes issued in settlement of expenses paid on the Company's behalf and working capital provided as compared to $5,237 for the period from November 9, 2010 (date of inception) through August 31, 2011. The increase was primarily due to increase in the borrowings during the year ended August 31, 2012, which was settled by issuance of common stock at the end of the year.  Net loss attributable to the non-controlling interest  Net loss attributable to non-controlling interest for the year ended August 31, 2012 was $940,725 as compared to $163,652 for the period from November 9, 2010 (date of inception) through August 31, 2011. Net loss attributable to the non-controlling interest amounted to $1,104,377 for the period from November 9, 2010 (date of inception) through August 31, 2012. The net loss attributable to the non-controlling interest represented the 30% third party ownership of Eco Ventures  Floridas share of its net loss for the year ended August 31, 2012, for the period from November 9, 2010 (date of inception) through August 31, 2011 and for the period from November 9, 3010 (date of inception) through August 31, 2012.  Net loss attributable to Eco Ventures Group, Inc. common shareholders  Net loss attributable to Eco Ventures Group, Inc. common shareholders amounted to $2,320,077 for the year ended August 31, 2012 compared to $466,409 for the period from November 9, 2010 (date of inception) through August 31, 2011. Net loss attributable to Eco Ventures Group, Inc. common shareholders amounted to $2,786,486 for the period from November 9, 2010 (date of inception) through August 31, 2012.  Liquidity and Capital Resources  Since November 9, 2010 (date of inception), we have been in the development stage and have to date received no revenue from the extraction of gold or other precious metals or other business operations, we have relied on funds received in connection with our equity and debt offerings to finance our ongoing operations. We have experienced net losses since inception, and we expect we will continue to incur losses for the next year. As of the date of this filing, we do not have any available external source of funds. We require additional capital in the near term to maintain our current operations. Although we are actively seeking additional equity and debt financing, such financing may not be available on acceptable terms, if at all.  Our consolidated financial statements have been prepared assuming that we will continue as a going concern. Since our inception on November 9, 2010, we have not generated revenue and have incurred net loss. Accordingly, we have not generated cash flow from operations and have primarily relied upon loans from officers, promissory notes and advances from related parties, and equity financing to fund our operations. These conditions as indicated in the report of our Independent Registered Public Accounting Firm dated December 26, 2012 on our consolidated financial statements for the period from November 9, 2010 (date of inception) through August 31, 2012, which included an explanatory paragraph indicating that there is substantial doubt about our ability to continue as a going concern.  We currently have $67 cash on hand. Accordingly, we do not have sufficient cash resources or current assets to pay our obligations, and we have been meeting many of our obligations through the issuance of our common stock to our employees, consultants and advisors as payment for goods and services. Considering the foregoing, we are dependent on additional financing to continue our operations and exploration efforts and, if warranted, to further develop and expand our precious metals extraction operations. Our significant capital requirements for the foreseeable future include development and operational costs, and our corporate overhead expenses.  We are actively seeking additional equity or debt financing. However, there can be no assurance that funds required during the next twelve months or thereafter will be available from external sources. The lack of additional capital resulting from the inability to generate cash flow from operations or to raise capital from external sources would force us to substantially curtail  Page 19  or cease operations and would, therefore, have a material adverse effect on our business. Further, there can be no assurance that any such required funds, if available, will be available on attractive terms or that they will not have a significantly dilutive effect on our existing shareholders. All of these factors have been exacerbated by the extremely unsettled credit and capital markets presently existing.  Net Cash Used in Operating Activities  Net cash used in operating activities was $400,119 for the year ended August 31, 2012, as compared to net cash used of $141,051 for the period from November 9, 2010 (date of inception) through August 31, 2011. The increase was primarily due to increase in net losses and operating expenses incurred by related party on behalf of the Company in exchange for notes payable and advances which was offset by stock based compensation, loss on settlement of debt, gain on forgiveness and change in operating assets and liabilities.  Net cash used of $541,170 in operating activities for the period from November 9, 2010 (date of inception) through August 31, 2012.  Net Cash Used in Investing Activities  During the year ended August 31, 2012, we used net cash in investing activities of $36,971, as compared to $169,396 for the period from November 9, 2010 (date of inception) through August 31, 2011, for the procurement of property and equipment by Eco Ventures  Florida During the period from November 9, 2010 (date of inception) through August 31, 2012, we used net cash in investing activities of $206,367 to acquired property and equipment.  Net Cash Provided by Financing Activities  During the year ended August 31, 2012, we received net cash provided by financing activities of $381,250 primarily from sale of our Series B preferred stock of $50,000, common stock subscription of $50,000, proceeds from related party advances of $213,650 and proceeds from related party notes payable of $67,600. During the period from November 9, 2010 (date of inception) through August 31, 2011, we received proceeds from sale of our Series A preferred stock of $250,000, proceeds from related party advances of $48,604 and contributed capital by the majority owned subsidiary of $67,750. During the period from November 9, 2010 (date of inception) through August 31, 2012, we received net cash provided by financing activities of $747,604 primarily from sale of our preferred stock, common stock subscription, proceeds from related party advances and notes payable as well as the contributed capital by the majority owned subsidiary.  Going Concern  The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is a development stage entity, has not established any sources of revenue to cover its operating expenses from November 9, 2010 (date of inception) through August 31, 2012.  In addition, the Company has incurred deficit accumulated during development stage of $3,117,186 and used $400,119 in cash for operating activities for the year ended August 31, 2012. The Company will engage in very limited activities without incurring any significant liabilities that must be satisfied in cash until a source of funding is secured.  These factors raise substantial doubt about the Companys ability to continue as a going concern.  The Companys ability to continue existence is dependent upon commencing its planned operations, managements ability to develop and achieve profitable operations and/or upon obtaining additional financing to carry out its planned business. The Company intends to fund its business development, acquisition endeavors and operations through equity and debt financing arrangements.  There can be no assurance that any additional financings will be available to the Company on satisfactory terms and conditions, if at all. In the event the Company is unable to continue as a going concern, it may elect or be required to seek protection from its creditors by filing a voluntary petition in bankruptcy or may be subject to an involuntary petition in bankruptcy. To date, management has not considered this alternative, nor does management view it as a likely occurrence.  The accompanying consolidated financial statements do not include any adjustments related to the recoverability or classification of asset-carrying amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.   Page 20  Critical Accounting Policies and Estimates  Significant Accounting Policies  Financial Reporting Release No. 60, published by the SEC, recommends that all companies include a discussion of critical accounting policies used in the preparation of their financial statements. While all these significant accounting policies impact our consolidated financial condition and results of operations, we view certain of these policies as critical.  Policies determined to be critical are those policies that have the most significant impact on our consolidated financial statements and require management to use a greater degree of judgment and estimates. Actual results may differ from those estimates.  We believe that given current facts and circumstances, it is unlikely that applying any other reasonable judgments or estimate methodologies would cause a material effect on our consolidated results of operations, financial position or liquidity for the periods presented in this report.  General  The Companys Consolidated Financial Statements are prepared in accordance with U.S. generally accepted accounting principles, which require management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, net revenue, if any, and expenses, and the disclosure of contingent assets and liabilities.  Management bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.  Senior management has discussed the development, selection and disclosure of these estimates with the Board of Directors.  Management believes that the accounting estimates employed and the resulting balances are reasonable; however, actual results may differ from these estimates under different assumptions or conditions.  An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, if different estimates reasonably could have been used, or if changes in the estimate that are reasonably possible could materially impact the consolidated financial statements. Management believes the following critical accounting policies reflect the significant estimates and assumptions used in the preparation of the Consolidated Financial Statements.  Development Stage Company  The Company is considered to be a development stage entity, as defined by the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 915.  Going Concern  The consolidated financial statements have been prepared on the going concern basis, which assumes the realization of assets and liquidation of liabilities in the normal course of operations. If we were not to continue as a going concern, we would likely not be able to realize on our assets at values comparable to the carrying value or the fair value estimates reflected in the balances set out in the preparation of the consolidated financial statements. There can be no assurances that we will be successful in generating additional cash from equity or other sources to be used for operations. The consolidated financial statements do not include any adjustments relating to the recoverability of assets and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.  Principles of Consolidation  The consolidated financial statements include the accounts of the Company and its majority owned subsidiary, Eco Ventures - Florida.  All significant intercompany balances and transactions have been eliminated in consolidation.  The remaining 30% ownership of Eco Ventures  Florida as of August 31, 2012 is recorded as non-controlling interest in the consolidated financial statements.   Page 21  Revenue Recognition  The Company will recognize revenue in accordance with Accounting Standards Codification subtopic 605-10, Revenue Recognition (ASC 605-10) which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments will be provided for in the same period the related sales will be recorded.  ASC 605-10 incorporates Accounting Standards Codification subtopic 605-25, Multiple-Element Arraignments (ASC 605-25). ASC 605-25 addresses accounting for arrangements that may involve the delivery or performance of multiple products, services and/or rights to use assets. There was no effect on implementing ASC 605-25 on the Companys financial position and results of operations, since the Company has not started generating revenue.  Stock-Based Compensation  The Company follows Accounting Standards Codification subtopic 718-10, Compensation (ASC 718-10) which requires that all share-based payments to both employees and non-employees be recognized in the income statement based on their fair values.  As of August 31, 2012, the Company did not have any issued or outstanding stock options.  Impairment of Long-Lived Assets  The Company follows ASC 360, "Property, Plant and Equipment" which requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses, or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of the long-lived assets and certain identifiable intangibles will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset.  ASC 360 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less disposal costs.  Income Taxes  The Company utilizes ASC 740 Income Taxes which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income.  Recent Accounting Pronouncements  There were various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company's consolidated financial position, results of operations or cash flows.  Inflation  We do not believe that inflation has had a material effect on our business, financial condition or results of operations. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could adversely affect our business, financial condition and results of operations.   Page 22  Off-Balance sheet Arrangements  We do not maintain off-balance sheet arrangements nor do we participate in any non-exchange traded contracts requiring fair value accounting treatment other than the operating leases as disclosed in Item 2, Properties and Notes to Consolidated Financial Statements (Note 10).   Item 7A. Quantitative and Qualitative Disclosures About Market Risk  This item is not applicable to smaller reporting companies.   Item 8.Financial Statements and Report of Independent Certifying Accountant  Our consolidated financial statements are included beginning immediately following the signature page to this report. See Item 15 for a list of the consolidated financial statements included herein.   Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure  On August 16, 2011 (the Engagement Date), the Company engaged RBSM LLP (RBSM ) as its independent registered public accounting firm for the Companys fiscal year ended August 31, 2011. The decision to engage RBSM as the Companys independent registered public accounting firm was approved by the Companys Board of Directors.  During the two most recent fiscal years and through the Engagement Date, the Company has not consulted with RBSM regarding either:  1. the application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Companys financial statements, and neither a written report was provided to the Company nor oral advice was provided that RBSM concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or  2. any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of Regulation S-K and the related instructions thereto) or a reportable event (as described in paragraph (a)(1)(v) of Item 304 of Regulation S-K).  Item 9A. Controls and Procedures  Evaluation of Disclosure Controls and Procedures  As of August 31, 2012, under the supervision and with the participation of our Chief Executive Officer (Principal Executive Officer), and Chief Financial Officer (Principal Financial Officer), management has evaluated the effectiveness of the design and operations of the Companys disclosure controls and procedures. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that the Companys disclosure controls and procedures were not effective as of August 31, 2012 as a result of the material weakness in internal control over financial reporting discussed below.  Managements Report on Internal Control Over Financial Reporting  Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in the Securities Exchange Act of 1934 Rule 13a-15(f). Our Chief Executive Officer and President/Chief Financial Officer conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control  Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO Framework).  The Companys management assessed the effectiveness of the Companys internal control over financial reporting as of August 31, 2012. Based on this evaluation, management concluded that our internal control over financial reporting was not effective as of August 31, 2012. Our Chief Executive Officer and President/Chief Financial Officer concluded we have a material weakness due to lack of segregation of duties and a limited corporate governance structure.   Page 23  Our size has prevented us from being able to employ sufficient resources to enable us to have an adequate level of supervision and segregation of duties within our internal control system. Therefore while there are some compensating controls in place, it is difficult to ensure effective segregation of accounting and financial reporting duties. Management reported a material weakness resulting from the combination of the following significant deficiencies:  · Lack of segregation of duties in certain accounting and financial reporting processes including the approval and execution of disbursements; · The Companys corporate governance responsibilities are performed by the Board of Directors; we do not have independent Board of Directors, we do not have an audit committee or compensation committee. Because our Board of Directors only meets periodically throughout the year, several of our corporate governance functions are not performed concurrent (or timely) with the underlying transaction, evaluation, or recordation of the transaction.  While we strive to segregate duties as much as practicable, there is an insufficient volume of transactions at this point in time to justify additional full time staff. We believe that this is typical in most exploration stage companies. We may not be able to fully remediate the material weakness until we commence mining operations at which time we would expect to hire more staff. We will continue to monitor and assess the costs and benefits of additional staffing.  In light of the above material weakness, we performed additional analyses and procedures in order to conclude that our consolidated financial statements for the period from November 9, 2010 (date of inception) through August 31, 2012 included in this Annual Report on Form 10-K were fairly stated in accordance with US GAAP. Accordingly, management believes that despite our material weaknesses, our consolidated financial statements for the period from November 9, 2010 (date of inception) through August 31, 2012 are fairly stated, in all material respects, in accordance with US GAAP.  This report does not include an attestation report of the Companys independent registered public accounting firm regarding internal control over financial reporting. Managements report was not subject to attestation by the Companys independent registered public accounting firm pursuant to temporary rules of the SEC that permit the Company to provide only managements report on internal control in this annual report.  Changes in Internal Control over Financial Reporting  There were no changes in internal control over financial reporting that occurred during the last fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, the Companys internal control over financial reporting.   Page 24  PART III Item 10.Directors, Executive Officers and Corporate Governance  Identify Directors and Executive Officers  The directors named below were elected for one-year terms. Officers hold their positions at the discretion of the Board of Directors in accordance with the terms of their employment agreements.  The names, addresses and ages of each of our directors and executive officers and the positions and offices held by them, which director positions are for a period of one year, are:  FirstBecame OfficerName and AddressAgeand/or DirectorPosition(s)Randall Lanham
7432 State Hwy. 50 Suite 100
Groveland, FL 3473648July 1, 2011Director and CEOMark Cox
7432 State Hwy. 50 Suite 100
Groveland, FL 3473655September 10, 2012Director, President  OFFICERS AND DIRECTORS  RANDALL LANHAM  DIRECTOR AND CHIEF EXECUTIVE OFFICER  Experience  Randall Lanham is a California-licensed attorney with experience in securities law and corporate finances. Mr. Lanham has experience in both domestic and international corporate legal matters, with demonstrated effectiveness in corporate reorganizations and business operations. Mr. Lanham's business experience coupled with solid legal background in corporate and civil law positions him perfectly for his work at the helm of EVG, where his goals are to control costs, establishing customer and vendor relations, and increase internal productivity directly generating improved bottom-line profitability.  Mr. Lanham has been engaged in the private practice of law in his own firm since 1996.  Randall Lanham is a California-licensed attorney with experience in securities law and corporate finances. Mr. Lanham has experience in both domestic and international corporate legal matters, with demonstrated effectiveness in corporate reorganizations and business operations. Mr. Lanham's business experience coupled with solid legal background in corporate and civil law positions him perfectly for his work at the helm of EVG, where his goals are to control costs, establishing customer and vendor relations, and increase internal productivity directly generating improved bottom-line profitability.  Mr. Lanham has been engaged in the private practice of law in his own firm since 1996, served as Vice President and General Counsel of  Activate Corporation  during 1995-1996, and was an Attorney with  Leonard, Ralston, Stanton and Danks from 1992-1993.    Mr. Lanham is also on the board of independent directors of Nymox Pharmaceutical Corporation based out of Montreal, Canada.  NASDAQ: NYMX  Education and Associations  ● J.D. Whittier College School of Law – 1991 ● B.S. Criminal Justice/Political Sci., U. of Delaware - 1987 ● State Bar of California – 1993    Page 25  MARK COX– PRESIDENT, CHIEF FINANCIAL OFFICER AND DIRECTOR  EXPERIENCE  Mark Cox is the founder, managing partner and CEO of New Energy Fund LP. The fund is a hedge fund format designed to invest in private and public equities that are focused on the emerging sustainable energy technology market. The fund launched in December 2004. His initial experience of renewable energy came as a teacher in Nigeria in 1979 when he was involved with solar ovens made from found materials by his class of 8 year olds.  In 1982, he was a platoon commander in the Third Battalion, The Parachute Regiment, in the British Army and was awarded a Mention in Dispatches (MID) in the Falklands conflict for his role in the battle of Mt. Longdon. After working as a teacher and translator from 1983 to 1985, he joined de Zoete & Bevan, a stockbroker in the City of London, which subsequently became Barclays de Zoete Wedd (BZW) in 1985.  Mr. Cox came to the US in 1987 and worked on the international equity sell side as a salesman, analyst and head of desk for French and German equities for Dresdner Banks ABD Securities, Credit Agricole, Swiss Bank, and Bankhaus Metzler. In 1998, he became a portfolio manager at Pinnacle International Management LLC, an employee owned money manager based in New York, where he introduced companies such as Vestas Wind Systems, Gamesa and Solon to the Pinnacle portfolio. The investment team held the number 1 position for 5 year returns in both Nelsons Worlds Best Money Managers and in Money Manager Reviews rankings up to the third quarter of 2002.   Mr. Cox also raised $78 million in new assets for Pinnacle during the significant bear market.  Recognizing the macro energy opportunity, he formed New Energy Fund L.P. in 2003 to capture the expected worldwide growth of renewable energy. The fund had its first full year of asset management in 2005 and today is in the sixth year of its track record. His interest has been in helping critical, disruptive clean tech technologies cross the valley of death between concept, prototype and commercial demonstration. The fund has taken lead investment positions in new concept technologies, such as base load, on demand solar power that works at night and during cloud cover and cheap hydrogen without the regulatory or infrastructural challenges. He has developed a record of selecting new effective, disruptive and economic clean technologies.  He has held the Series 7, 24, 63, and 65 NASD (FINRA) securities licenses and is fluent in French.  Education  ● Executive MBA from Columbia University in New York ● Master’s degree in French and English from the University of Dundee in Scotland  TECHNOLOGY CONSULTANTS  WES BERRY – TECHNOLOGY ADVISOR  Experience  Wes Berry provides consulting assistance, overall program management, and process development support for chemically and environmentally related projects.  Wes has provided consulting services for many industries, including fertilizer, hydrometallurgical, inorganic chemical, alternative energy and specialty organic services.  Most recently, Wes has become extensively involved in the booming biodiesel industry.  In 2005, Wes formed a new company to focus on renewable fuel-type projects.  His extensive experience with minerals extraction and biodiesel production is a tremendous asset to Eco Ventures Group.  Wes is primarily focused in the development, evaluation and execution stages of the Raptor system.  His extensive expertise allows Raptor to grow with confidence and serve its clients needs with insight not generally available to emerging biodiesel companies.  Wes received Bachelor of Science and Master of Science degrees in chemical engineering from the University of South Florida in 1972 and 1976.  He has published a number of papers, including several related to the practical aspects of biodiesel production.  In addition, Wes holds 19 U.S. and 3 foreign patents, and is a member of several academic honor and professional societies. These societies include Tau Beta Pi (engineering honor society); Phi Kappa Phi (academic honor  Page 26  society); American Institute of Chemical Engineers (AIChE); American Chemical Society (ACS) and the American Oil Chemists Society (AOCS).  Significant Employees  We have no significant employees other than our executive officers and Technology Staff.  Director Independence  Our common stock is listed on the OTC Bulletin Board inter-dealer quotation system, which does not have director independence requirements. For purposes of determining director independence, we have applied the definition set forth in NASDAQ Rule 4200(a)(15). The following directors are considered independent as defined under Rule 4200(a)(15): Randall Lanham and Paul Smith would not be considered independent under the NASDAQ rule due to the fact that they are employees of our company.  Board Meetings  During the fiscal year ended August 31, 2012, we had two directors. During the year fiscal year ended August 31, 2012, the Board held one meeting and has taken numerous actions by unanimous written consent.  Audit, Compensation and Nominating Committees  As noted above, our common stock is listed on the OTC Bulletin Board, which does not require companies to maintain audit, compensation or nominating committees. Considering the foregoing and the fact that we are an early stage exploration company, we do not maintain standing audit, compensation or nominating committees. The functions typically associated with these committees are performed by the entire Board of Directors currently consists of two members, neither of which is considered independent.  Although there is no formal process in place regarding the consideration of any director candidates recommended by security holders, our Board of Directors will consider a director candidate proposed by a shareholder. A candidate must be highly qualified in terms of business experience and be both willing and expressly interested in serving on the Board.  The Board evaluates nominees for directors recommended by shareholders in the same manner in which it evaluates other nominees for directors. Minimum qualifications include the factors discussed above.  Shareholder Communications  We do not have a formal shareholder communications process. Shareholders are welcome to communicate with the Company by forwarding correspondence to Eco Ventures Group, Inc., State Hwy. 50, Groveland, FL, Attn.:  Shareholder Relations.  Section 16(a) Beneficial Ownership Reporting Compliance  Section 16(a) of the Exchange Act, requires the Companys officers and directors, and persons who own more than 10% of the Companys Common Stock, to file reports of ownership and changes in ownership of the Companys Common Stock with the SEC. To our knowledge, during the fiscal year ended August 31, 2012, based solely on a review of such materials as are required by the SEC, all required reporting is current and accurate.  Code of Business Conduct and Ethics  We have adopted a code of business conduct and ethics that applies to all of our executive officers and employees. The Code addresses conflicts of interest, compliance with all laws and other legal requirements, conduct of business in an honest and ethical manner, integrity and actions in the Companys best interest. Directors, officers and employees are required to report any conduct that they believe in good faith to be an actual or apparent violation of the Code. The Sarbanes-Oxley Act of 2002 requires companies to have procedures to receive, retain and treat complaints received regarding accounting, internal accounting controls or auditing matters and to allow for the confidential and anonymous submission by employees of concerns regarding questionable accounting or auditing matters. The Company currently has such procedures in place. Eco Ventures Group, Inc. Code of Business Ethics and Conduct is available on our web site at www.ecoventuresgroup.com  Page 27  Item 11.  Executive Compensation  Compensation Covered  All Executive Officers  The executive officers for the period from November 9, 2010 (date of inception) through August 31, 2011 and for the year ended August 31, 2012 are as follows.  Randall Lanham, Chief Executive Officer Paul Smith, President (July 1, 2011  September 9, 2012) Mark Cox, President September 10, 2012 to present.  Summary Compensation Table  The following table summarizes all compensation recorded by us in the period from November 9, 2010 (date of inception) through August 31, 2011 and for the year ended August 31, 2012 for our named executive officers.  Name and
Principal PositionYearSalaryBonusStock
AwardsOption
AwardsNon-Equity Incentive Plan CompensationNonqualified Deferred Compensation EarningsAll other
CompensationTotalRandall Lanham, 
CEO (1)2011$
25,000$
-$
122,709$
-$
-$
-$
-$
147,7092012150,000-64,926----214,926Paul Smith, 
Ex-President201125,000-122,709----147,709and CFO (2)2012150,000-64,926----214,926Mark Cox, 
President and CFO (3)2012$
-$
-$
122,500$
-$
-$
-$
-$
122,500  (1) Representing a total of 47,500 as Founders Shares valued at $0.8 per Share, we also issued 47,500 shares to be equally vested in next 36 months. In 2011, 2,639 shares were vested which was valued at average closing market price during the months for which stocks were vested totaling to $84,709. During the year ended August 31, 2012 15,833 stocks were valued at average of the closing market price during the month for which stocks are awarded totaling to $64,926 vested as set forth in their Employment Agreements. These Shares are all restricted in accordance with the requirements of Rule 144 under the Securities Act of 1933, as amended. (2) Representing a total of 47,500 as Founders Shares valued at $0.8 per Share, we also issued 47,500 shares to be equally vested in next 36 months. In 2011, 2,639 shares were vested which was valued at average closing market price during the months for which stocks were vested totaling to $84,709. During the year ended August 31, 2012 15,833 stocks were valued at average of the closing market price during the month for which stocks are awarded totaling to $64,926 vested as set forth in their Employment Agreements. Paul Smith has resigned as of September 10, 2012. These Shares are all restricted in accordance with the requirements of Rule 144 under the Securities Act of 1933, as amended. (3) Mark Cox was appointed on August 7, 2012 and 125,000 shares eligible on signing of the agreement valued at $0.98. Mark Cox is on a review term for the first 120 days. The amended agreement state the effective date of appointment as September 10, 2012 but the stock award of 125,000 restricted shares shall remain earned as of August 7, 2012. These Shares are all restricted in accordance with the requirements of Rule 144 under the Securities Act of 1933, as amended.  Executive Employment Agreements  Randall Lanham. We employed Mr. Lanham on July 1, 2011 as our Chief Executive Officer for a period of 3 years at annual salary of $300,000. Mr. Lanham will however forgo 50% of his salary until the Company receives a significant portion of its financing to expand its operations and execute its business plan. Mr. Lanham is entitled to an annual bonus to equal to 1% of the Companys EBITA for each fiscal year during the Employment Period not to exceed $500,000.  Mr. Lanham received 47,500 shares of the Companys restricted Common Stock in conjunction with the reverse-merger transaction.  The Company shall award an additional 1,319 shares of its "restricted stock" for each month that Mr. Lanham remains in the employ of the Company, up to a maximum of thirty-six (36) months.  Page 28  Paul Smith. We employed Mr. Smith on July1, 2011 through September 9, 2012.  Mr. Smith upon resignation forgave all back salary and agreed to three hundred thousand restricted shares of common stock and reimbursement of $27,000 in expenses.  Mark Cox.  We employed Mr. Cox on August 7, 2012 as our President and CFO for a period of 2 years at annual salary of $150,000. Mr. Cox will however forgo 100% of his salary until the Company receives a significant portion of its financing to expand its operations and execute its business plan. Mr. Cox is entitled to an annual bonus to equal to 1% of the Companys EBITA for each fiscal year during the Employment Period not to exceed $500,000.  Mr. Cox shall receive 125,000 shares of the Companys restricted Common Stock in conjunction with signing as President and CFO. Upon successful completion of a one and twenty (120) day review period, the Company shall also award an additional 50,000 shares of its "restricted stock" for each month that Mr. Cox remains in the employ of the Company, up to a maximum of twenty-four (24) months. The amended agreement state the effective date of appointment as September 10, 2012 but the stock award of 125,000 restricted shares shall remain earned as of August 7, 2012 and other term to be as same.  Equity Compensation Plans  2011 Incentive Stock Option Plan  On July 26, 2011, our Board of Directors unanimously approved our 2011 Incentive Stock Option Plan (the 2011 Plan). The purpose of the Plan is to retain current, and attract new, employees, directors, consultants and advisors that have experience and ability, along with encouraging a sense of proprietorship and interest in the Companys development and financial success. The Board of Directors believes that option grants and other forms of equity participation are an increasingly important means of retaining and compensating employees, directors, advisors and consultants. The 2011 Plan authorizes us to issue up to 10,000,000 shares of our common stock. The plan allows us to grant tax-qualified incentive stock options, non-qualified stock options and restrictive stock awards to employees, directors and consultants of our company.  In order to be able to grant qualified incentive stock options under the 2011 Plan in accordance with Section 422 of the Internal Revenue Code, as amended, we must obtain shareholder approval of the 2011 Plan within 12 months before or after the 2011 Plan was adopted. Accordingly, we submitted the Plan for shareholder approval in June 2011 and the 2011 Plan was approved by shareholder action upon written consent in accordance with the By-Laws of the Company.  Unless terminated earlier by the Board, the 2011 Plan will expire on December 31, 2021. As of August 31, 2012 there are no outstanding options under the 2011 Plan, and no shares of Common Stock has been issued under the 2011 Plan.  Outstanding Equity Awards at Fiscal Year-end  There we no outstanding equity awards for our Executive officers in the period from November 9, 2010 (date of inception) through August 31, 2012.  Stock Option Exercised  There were no stock options exercised on common shares in the period from November 9, 2010 (date of inception) through August 31, 2012, with respect to the named executives listed in the Summary Compensation Table.  Expense Reimbursement  We will reimburse our officers and directors for reasonable expenses incurred during the course of their performance.  Retirement Plans and Benefits.  None.   Page 29  Director Compensation  The following table summarizes all director compensation for our Executive officers in the most recent fiscal year ended August 31, 2012 and the previous fiscal year ended August 31, 2012.   No compensation was paid in either fiscal year due to lack of operating funds.  There are no other standard compensation arrangements in place and all directors are treated equally with respect to any compensation. Fees earned orStockOptionTotalNamepaid in cash ($)awards ($)awards ($)($)Randall LanhamPaul SmithMark Cox  Standard Director Compensation Arrangement  We do not have a standard compensation arrangement for directors.  Indemnification and Limitation on Liability of Directors  Our Articles of Incorporation and Bylaws provide that we must indemnify, to the fullest extent permitted by the laws of the State of Nevada, any of our directors, officers, employees or agents made or threatened to be made a party to a proceeding, by reason of the person serving or having served in a capacity as such, against judgments, penalties, fines, settlements and reasonable expenses incurred by the person in connection with the proceeding if certain standards are met.  The Nevada Revised Statutes allows indemnification of directors, officers, employees and agents of a company against liabilities incurred in any proceeding in which an individual is made a party because he or she was a director, officer, employee or agent of the company if such person conducted himself in good faith and reasonably believed his actions were in, or not opposed to, the best interests of the company, and with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. A person must be found to be entitled to indemnification under this statutory standard by procedures designed to assure that disinterested members of the board of directors have approved indemnification or that, absent the ability to obtain sufficient numbers of disinterested directors, independent counsel or shareholders have approved the indemnification based on a finding that the person has met the standard. Indemnification is limited to reasonable expenses.  At present, there is no pending litigation or proceeding involving any of our directors, officers, employees or agents where indemnification will be required or permitted. Insofar as indemnification for liabilities arising under the 1933 Act may be permitted to our directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC, such indemnification is against public policy as expressed in the 1933 Act and is, therefore, unenforceable.   Our Articles of Incorporation limit the liability of our directors to the fullest extent permitted by law. Specifically, our directors will not be personally liable for monetary damages for breach of fiduciary duty as directors, except for:  • any breach of the duty of loyalty to us or our stockholders; • acts or omissions not in good faith or that involved intentional misconduct or a knowing violation of law; • dividends or other distributions of corporate assets that are in contravention of certain statutory or contractual restrictions; • violations of certain laws; or • any transaction from which the director derives an improper personal benefit.    Page 30   Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters  The following table sets forth certain information regarding the beneficial ownership of the Companys Common Stock as of December 18, 2012, by (i) each person known by the Company to beneficially own more than five percent of the outstanding shares of Common Stock, (ii) each current director and named executive officer of the Company and (iii) all executive officers and directors as a group. Except as indicated, the persons named in the table have sole voting and investment power with respect to all shares beneficially owned. Except as indicated, the address of each of the persons named in the table is that of the Companys principal executive offices. As of December 18, 2012, there were 750,000,000 shares of our common stock authorized and 39,542,609 shares issued.  Name and Address ofAmount and Nature ofPercentage ofTitle of ClassBeneficial OwnerBeneficial OwnershipCommon StockCommon StockRandall J. Lanham (2)2,096,250(1)5.3%Common StockPaul Smith (2)96,2500.2%Common StockRyze Capital, NA LLC
121 South Orange Ave
Suite 1230
Orlando, FL 3280117,900,00045.3%Common StockAdobe International
The Matalon
Coney Drive
Belize City, Belize9,000,000(1)22.8%Common StockAll officers and directors (2 persons)(2)2,192,5005.5% ______________________


|    |  |                               
|--- |  | ------------------------------
|    |  |                               
|(1) |  | All shares are owned directly.
|(2) |  | Officer and director.         

Item 13.  Certain Relationships and Related Transactions, and Director Independence  We have borrowed funds (See Note 5 and 8 to the Consolidated Financial Statements), from related parties.  In connection with the borrowings, we have executed unsecured promissory notes (Notes) to related parties which are due on demand and carry interest rate of 8% per annum. These Notes are in the amounts of $138,026 payable to Central Florida Resources Group, Inc.  The Notes also provide that we pay collection costs and attorney fees if the Notes are not paid when due.  In addition, our Chief Executive Officer, President/Chief Financial Officer and a principal shareholder have advanced funds of $315,240 and $48,604 as of August 31, 2012 and 2011, respectively to the Company for travel and working capital purposes.  There are no formal repayment terms or arrangements for these advances and are due on demand. Central Florida Resources Group has advanced a total of $221,377. Also, as per employment agreement, the Company charged to operations salary expenses to CEO and President of $300,000 and $50,000 for the year ended August 31, 2012 and for the period from November 9, 2010 (date of inception) through August 31, 2011, respectively.  Director Independence  Our common stock is listed on the OTC Bulletin Board inter-dealer quotation system, which does not have director independence requirements. For purposes of determining director independence, we have applied the definition set forth in  Page 31  NASDAQ Rule 4200(a)(15). The following directors are considered independent as defined under Rule 4200(a)(15): Randall Lanham and Paul Smith  would not be considered independent under the NASDAQ rule due to the fact that they are employees of our company.    Item 14.  Principal Accountant Fees and Services  RBSM LLP (RBSM) has served as our independent registered public accounting firm since August 16, 2011.  RBSM was also Eco Ventures  Floridas independent registered public accounting firm prior to the completion date of the Reverse Merger transaction on June 1, 2011.   Prior to August 16, 2011, MaloneBailey LLP served as the Companys then independent registered accounting firm.  The following table sets forth fees billed to us by RBSM during the fiscal years ended August 31, 2012 and 2011 for: (i) services rendered for the audit of our annual consolidated financial statements and the review of our quarterly consolidated  financial statements, (ii) services by our auditor that are reasonably related to the performance of the audit or review of our consolidated financial statements and that are not reported as Audit Fees, (iii) services rendered in connection with tax compliance, tax advice and tax planning, and (iv) all other fees for services rendered.  Fiscal Years EndedAugust 31, 2012August 31, 2011Audit Fees (1)$            36,500$                       -Audit Related Fees (2)-28,000Tax Fess (3)--All Other Fees (4)--$            36,500$            28,000  (1) Audit Fees  Audit fees include fees incurred for professional services rendered in connection with the audit of the Companys annual consolidated financial statements for the period from November 9, 2010 (date of inception) through August 31, 2011, the reviews of the quarterly interim consolidated financial statements included in the Companys Forms 10-Q for the fiscal year ended August 31, 2012, and services rendered to issue consents required in certain of the Companys registration statements. RBSM has billed us $36,500 for audit fees incurred during the fiscal year ended August 31, 2012 in connection with the audit of our annual consolidated financial statements for the period from November 9, 2010 (date of inception) through August 31, 2011 and review of our fiscal year ended August 31, 2012s quarterly interim financial statements included in our Form 10-Q.  (2) Audit-Related Fees  RBSM billed us audit-related fees in the aggregate amount of approximately $0 and $28,000 during the fiscal year ended August 31, 2012 and during the period from November 9, 2010 (date of inception) through August 31, 2011 in connection their audit of our majority owned subsidiary, Eco Ventures  Floridas March 31, 2011 financial statements and review of the Form 8-K.  (3) Tax Fees  No fees of this sort were billed by RBSM during the period from November 9, 2010 (date of inception) through August 31, 2012.  (4) All Other Fees  No fees of this sort were billed by RBSM during the period from November 9, 2010 (date of inception) through August 31, 2012.    Page 32  PART IV


|         |  |                                           
|-------- |  | ------------------------------------------
|Item 15. |  | Exhibits and Financial Statement Schedules

See Index to Financial Statements immediately following the signature page of this report.      SIGNATURES  Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.


| |  |                          |  |                                                                   |  | 
| |  | ------------------------ |  | ----------------------------------------------------------------- |  | 
| |  |                          |  |                                                                   |  | 
| |  | Eco Ventures Group, Inc. |  |                                                                  
| |  |                          |  |                                                                   |  | 
| |  | By:                      |  | /s/ Randall Lanham                                                |  | 
| |  |                          |  | Randall Lanham                                                    |  | 
| |  |                          |  | Chief Executive Officer                                           |  | 
| |  |                          |  |                                                                   |  | 
| |  | By:                      |  | /s/ Mark Cox                                                      |  | 
| |  |                          |  | Mark Cox                                                          |  | 
| |  |                          |  | President, Chief Financial Officer & Principal Accounting Officer |  | 

December 26, 2012  Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on December 26, 2012.


|                   |  |                                                         
|------------------ |  | --------------------------------------------------------
|                   |  |                                                         
|Signature          |  | Title                                                   
|                   |  |                                                         
|/s/ Randall Lanham |  | Chief Executive Officer and Director                    
|RRandall Lanham    |  | (Principal Executive Officer)                           
|                   |  |                                                         
|/s/ Mark Cox       |  | President, Chief Financial Officer (Principal Accounting
|Mark Cox           |  | Officer) and Director                                   
|                   |  |                                                         
|                   |  |                                                         

Page 33    EXHIBIT INDEX  Exhibit31.1Certification Pursuant to Rule 13A-14 or 15D-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 signed by the Principal Executive Officer*31.2Certification Pursuant to Rule 13A-14 or 15D-14 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 signed by the Principal Financial Officer*32.1Certification Required by 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by Principal Executive Officer*32.2Certification Required by 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 signed by Chief Financial Officer*101Interactive data files**  * Filed herewith ** to be filed by amendment      Page 34  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (A Development Stage Company)  INDEX TO CONSOLIDATED FINANCIAL STATEMENTS PageReport of Independent Registered Public Accounting FirmF-2Consolidated Balance Sheets as of August 31, 2012 and 2011F-3Consolidated Statements of Operations for the year ended August 31, 2012, for the period from November 9, 2010 (date of inception) through August 31, 2011 and for the period from November 9, 2010 (date of inception) through August 31, 2012F-4Consolidated Statement of (Deficit) Equity for the period from November 9, 2010 (date of inception) through August 31, 2012F-5  F-6Consolidated Statements of Cash Flows for the year ended August 31, 2012, for the period from November 9, 2010 (date of inception) through August 31, 2011 and for the period from November 9, 2010 (date of inception) through August 31, 2012F-7Notes to Consolidated Financial StatementsF-8  F-23   F-1  REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  To the Board of Directors and Shareholders of Eco Ventures Group, Inc. (formerly Modern Renewable Technologies, Inc.)  We have audited the accompanying consolidated balance sheets of Eco Ventures Group, Inc. and Subsidiary (the Company), a development stage company as of August 31, 2012 and 2011 and the related consolidated statements of operations, (deficit) equity and cash flows for the year ended August 31, 2012, for the period from November 9, 2010 (date of inception) through August 31, 2011 and for the period from November 9, 2010 (date of inception) through August 31, 2012.  These consolidated financial statements are the responsibility of the Companys management.  Our responsibility is to express an opinion on these consolidated financial statements based on our audits.  We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States of America).  Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement.  The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.  Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting.  Accordingly, we express no such opinion.  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 audits provide a reasonable basis for our opinion.  In our opinion, the consolidated financial statements referred to the above present fairly, in all material respects, the consolidated financial position of Eco Ventures Group, Inc. as of August 31, 2012 and 2011, and the results of operations, (deficit) equity and cash flows for the year ended August 31, 2012, for the period from November 9, 2010 (date of inception) through August 31, 2011 and for the period from November 9, 2010 (date of inception) through August 31, 2012 in conformity with accounting principles generally accepted in the United States of America.  The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern.  As discussed in Note 2 to the accompanying consolidated financial statements, the Company is a development stage company and has not commenced its planned principal operations, is incapable of generating sufficient cash flow to sustain its operations without securing additional financing, which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to this matter are described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.   /s/ RBSM LLP  New York, New York December 26, 2012  F-2  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (A Development Stage Company) Consolidated Balance Sheets


|                                                                                                                                                                                                                                                |                 |  |                
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------- |  | ---------------
|                                                                                                                                                                                                                                                | August 31, 2012 |  | August 31, 2011
|ASSETS                                                                                                                                                                                                                                          |                 |  |                
|                                                                                                                                                                                                                                                |                 |  |                
|Current Assets                                                                                                                                                                                                                                  |                 |  |                
|Cash                                                                                                                                                                                                                                            | $
67            |  | $
55,907       
|Deposits                                                                                                                                                                                                                                        | 10,000          |  | 10,000         
|Total current assets                                                                                                                                                                                                                            | 10,067          |  | 65,907         
|Property, plant and equipment                                                                                                                                                                                                                   | 766,367         |  | 729,396        
|                                                                                                                                                                                                                                                |                 |  |                
|TOTAL ASSETS                                                                                                                                                                                                                                    | $
776,434       |  | $
795,303      
|                                                                                                                                                                                                                                                |                 |  |                
|LIABILITIES AND (DEFICIT) EQUITY                                                                                                                                                                                                                |                 |  |                
|                                                                                                                                                                                                                                                |                 |  |                
|Current liabilities:                                                                                                                                                                                                                            |                 |  |                
|Accounts payable and accrued expenses                                                                                                                                                                                                           | $
856,500       |  | $
148,983      
|Notes payable, related parties                                                                                                                                                                                                                  | 138,026         |  | 265,474        
|Advances, related parties                                                                                                                                                                                                                       | 315,240         |  | 48,604         
|Total current liabilities                                                                                                                                                                                                                       | 1,309,766       |  | 463,061        
|Commitments and contingencies                                                                                                                                                                                                                   | -               |  | -              
|                                                                                                                                                                                                                                                |                 |  |                
|(Deficit) equity                                                                                                                                                                                                                                |                 |  |                
|Eco Ventures Group, Inc. Equity                                                                                                                                                                                                                 |                 |  |                
|Preferred stock, $0.001 par value; 100,000,000 shares authorized                                                                                                                                                                                | -               |  | -              
|Series A cumulative convertible preferred stock, $0.001 par value; 4,000,000 shares designated, 75,000 shares issued and outstanding as of August 31, 2012 and 2011                                                                             | 75              |  | 75             
|Series B cumulative convertible preferred stock, $0.001 par value; 6,120,800 shares designated, 20,000 and Nil shares issued and outstanding as of August 31,2012 and 2011, respectively                                                        | 20              |  | -              
|Common stock, $0.001 par value; 750,000,000 shares authorized, 35,606,841 and 1,959,888 shares issued as of August 31, 2012 and 2011, respectively and  4,511,841 and 1,959,888 shares outstanding as of August 31, 2012 and 2011, respectively | 4,511           |  | 1,960          
|Preferred stock subscription                                                                                                                                                                                                                    | 100,000         |  | 100,000        
|Common stock subscription                                                                                                                                                                                                                       | 50,000          |  | -              
|Additional paid-in capital                                                                                                                                                                                                                      | 3,345,299       |  | 1,002,643      
|Deficit accumulated during the development stage                                                                                                                                                                                                | (3,117,186)     |  | (797,109)      
|Total Eco Ventures Group, Inc. Equity                                                                                                                                                                                                           | 382,719         |  | 307,569        
|                                                                                                                                                                                                                                                |                 |  |                
|Non-controlling interest                                                                                                                                                                                                                        | (916,052)       |  | 24,673         
|                                                                                                                                                                                                                                                |                 |  |                
|Total (deficit) equity                                                                                                                                                                                                                          | (533,333)       |  | 332,242        
|                                                                                                                                                                                                                                                |                 |  |                
|TOTAL LIABILITIES AND (DEFICIT) EQUITY                                                                                                                                                                                                          | $
776,434       |  | $
795,303      

The accompanying notes are an integral part of these consolidated financial statements.   F-3  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (A Development Stage Company) Consolidated Statements of Operations


|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|--------------------------------------------------------------------- | ---------------------------------- |  | -------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------
|                                                                      |                                    |  |                                                                                 
|                                                                      | For the Year Ended August 31, 2012 |  | For the Period from date of inception (November 9, 2010) Through August 31, 2011 |  | For the Period from date of inception (November 9, 2010) Through August 31, 2012
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Operating expenses                                                    | $
267,058                          |  | $
56,023                                                                         |  | $
323,081                                                                       
|General and administrative expenses                                   | 2,311,620                          |  | 830,594                                                                          |  | 3,142,214                                                                       
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Loss from operations                                                  | (2,578,678)                        |  | (886,617)                                                                        |  | (3,465,295)                                                                     
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Other income (expense)                                                |                                    |  |                                                                                  |  |                                                                                 
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Gain on forgiveness of debt                                           | -                                  |  | 261,793                                                                          |  | 261,793                                                                         
|Loss on settlement of debt                                            | (656,000)                          |  | -                                                                                |  | (656,000)                                                                       
|Interest expense                                                      | (26,123)                           |  | (5,237)                                                                          |  | (31,360)                                                                        
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Total other income (expense)                                          | (682,123)                          |  | 256,556                                                                          |  | (425,567)                                                                       
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Net loss                                                              | (3,260,801)                        |  | (630,061)                                                                        |  | (3,890,862)                                                                     
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Net loss attributable to non-controlling interest                     | (940,725)                          |  | (163,652)                                                                        |  | (1,104,377)                                                                     
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Net loss attributable to Eco Ventures Group, Inc. common shareholders | $
(2,320,077)                      |  | $
(466,409)                                                                      |  | $
(2,786,486)                                                                   
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Weighted average common shares  basic and diluted                    | 2,287,928                          |  | 637,950                                                                          |  |                                                                                 
|                                                                      |                                    |  |                                                                                  |  |                                                                                 
|Net loss per share - basic and diluted                                | $
(1.01)                           |  | $
(0.73)                                                                         |  |                                                                                 

The accompanying notes are an integral part of these consolidated financial statements.       F-4


ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (A Development Stage Company) Consolidated Statement of Equity (Deficit) FOR THE PERIOD FROM NOVEMBER 9, 2010 (DATE OF INCEPTION) THROUGH AUGUST 31, 2012 Preferred sharesSeries A
Preferred sharesCommon sharesSeries ASeries BCommon sharessubscribedsubscribedSharesAmountSharesAmountSharesAmountSharesAmountSharesAmountBalance at date of inception (November 9, 2010) as adjusted for recapitalization and reverse stock split-$
--$
-231$
--$
--$
-Effect of Reverse Merger:Common stock issued in connection with the shares exchange transaction, settlement of notes payable and effect of recapitalization----1,739,6581,740----Common stock issued in May 2011 for services rendered at fair value of $0.8 per share----125,000125----Common stock issued  in May 2011 for officers' compensation at fair value of $0.8 per shares95,00095Sale of Series A preferred stock in June 2011 at $2.00 per share50,00050--------Sale of Series A preferred stock in July 2011 at $2.00 per share25,00025--------Preferred stock subscription------40,000100,000--Capital contributed to majority owned subsidiary----------Stock based compensation----------Net loss----------Balance, September 1, 201175,00075--1,959,8881,96040,000100,000--Sale of Series B preferred stock in October 2011 at $2.50 per share--20,00020------Common stock issued in November 2011 for officer compensation at $3.60 per share----1,2501----Common stock issued in January 2012 in settlement of notes payable at $1.60 per share----20,00020----Common stock issued in February 2012 in settlement of notes payable at $1.60 per share----62,96163----Common stock issued in March 2012 in settlement of notes payable at $1.60 per share----100,242100----Common stock issued in April 2012 for officers compensation at $0.80 per share----11,25011----Common stock subscription received in August 2012 at $0.50 per share------100,00050,000Common stock issued in August 2012 for services rendered at $0.80 per share----50,00050----Common stock issued in August 2012 in settlement of notes payable at $0.45 per share----1,600,0001,600----Common stock issued in August 2012 for professional services at $1 per share----6,2506----Common stock issued in August 2012 for professional services at $0.70 per share----700,000700----Stock based compensation----------Net loss----------Balance, August 31, 201275,000$
7520,000$
204,511,841$
4,51140,000$
100,000100,000$
50,000  (Continued on next page) The accompanying notes are an integral part of these consolidated financial statements.


F-5


ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (A Development Stage Company) Consolidated Statement of Equity (Deficit) (Continued) FOR THE PERIOD FROM NOVEMBER 9, 2010 (DATE OF INCEPTION) THROUGH AUGUST 31, 2012  Additional Paid in CapitalDeficit Accumulated
During the
Development StageTotalNon-Controlling InterestEquity (Deficit)Balance at date of inception (November 9, 2010) as adjusted for recapitalization and reverse stock split$
250$
-$
250$
-250Effect of Reverse Merger:Common stock issued in connection with the shares exchange transaction, settlement of notes payable and effect of recapitalization67,846(330,700)(261,114)(261,114)Common stock issued in May 2011 for services rendered at fair value of $0.8 per share99,875-100,000-100,000Common stock issued  in May 2011 for officers' compensation at fair value of $0.8 per shares75,905-76,000-76,000Sale of Series A preferred stock in June 2011 at $2.00 per share99,950-100,000-100,000Sale of Series A preferred stock in July 2011 at $2.00 per share49,975-50,000-50,000Preferred stock subscription--100,000-100,000Capital contributed to majority owned subsidiary439,425-439,425188,325627,750Stock based compensation169,417-169,417-169,417Net loss-(466,409)(466,409)(163,652)(630,061)Balance, September 1, 20111,002,643(797,109)307,56924,673332,242Sale of Series B preferred stock in October 2011 at $2.50 per share49,980-50,000-50,000Common stock issued in November 2011 for officer compensation at $3.60 per share4,499-4,500-4,500Common stock issued in January 2012 in settlement of notes payable at $1.60 per share31,980-32,000-32,000Common stock issued in February 2012 in settlement of notes payable at $1.60 per share100,674-100,737-100,737Common stock issued in March 2012 in settlement of notes payable at $1.60 per share160,286-160,387-160,387Common stock issued in April 2012 for officers compensation at $0.80 per share8,989-9,000-9,000Common stock subscription received in August 2012 at $0.50 per share--50,000-50,000Common stock issued in August 2012 for services rendered at $0.80 per share39,950-40,000-40,000Common stock issued in August 2012 in settlement of notes payable at $0.45 per share718,400-720,000-720,000Common stock issued in August 2012 for professional services at $1 per share6,244-6,250-6,250Common stock issued in August 2012 for professional services at $0.70 per share489,300-490,000-490,000Stock based compensation732,353-732,353-732,353Net loss-(2,320,077)(2,320,077)(940,725)(3,260,802)Balance, August 31, 2012$
3,345,299$
(3,117,186)$
382,719$
(916,052)$
(533,333)  The accompanying notes are an integral part of these consolidated financial statements.


F-6


ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (A Development Stage Company) Consolidated Statement of Cash Flows


|                                                                                                                 |                            |  |                                                                                  |  |                                                                                  |  |  | 
|---------------------------------------------------------------------------------------------------------------- | -------------------------- |  | -------------------------------------------------------------------------------- |  | -------------------------------------------------------------------------------- |  |  | 
|                                                                                                                 | Year Ended August 31, 2012 |  | For the period from date of inception (November 9, 2010) Through August 31, 2011 |  | For the period from date of inception (November 9, 2010) Through August 31, 2012
|                                                                                                                 |                            |  |                                                                                  |  |                                                                                 
|Cash flows from operating activities:                                                                            |                            |  |                                                                                  |  |                                                                                 
|Net loss                                                                                                         | $
(3,260,801)              |  | $
(630,061)                                                                      |  | $
(3,890,862)                                                                   
|Adjustments to reconcile net loss to net cash used in operating activities:                                      |                            |  |                                                                                  |  |                                                                                 
|Stock based compensation                                                                                         | 1,282,100                  |  | 345,417                                                                          |  | 1,627,517                                                                       
|Gain on forgiveness of debt                                                                                      | -                          |  | (261,793)                                                                        |  | (261,793)                                                                       
|Operating expenses incurred by related party on behalf of the Company in exchange for notes payable and advances | 203,657                    |  | 265,474                                                                          |  | 469,131                                                                         
|Loss on settlement of debt                                                                                       | 656,000                    |  | -                                                                                |  | 656,000                                                                         
|Changes in operating assets and liabilities:                                                                     |                            |  |                                                                                  |  |                                                                                 
|Deposits                                                                                                         | -                          |  | (10,000)                                                                         |  | (10,000)                                                                        
|Accounts payable and accrued expenses                                                                            | 718,926                    |  | 149,912                                                                          |  | 868,838                                                                         
|Net cash used in operating activities                                                                            | (400,119)                  |  | (141,051)                                                                        |  | (541,170)                                                                       
|                                                                                                                 |                            |  |                                                                                  |  |                                                                                 
|Cash flows from investing activities:                                                                            |                            |  |                                                                                  |  |                                                                                 
|Purchase of property and equipment                                                                               | (36,971)                   |  | (169,396)                                                                        |  | (206,367)                                                                       
|Net cash used in investing activities                                                                            | (36,971)                   |  | (169,396)                                                                        |  | (206,367)                                                                       
|                                                                                                                 |                            |  |                                                                                  |  |                                                                                  |  |  | 
|Cash flows from financing activities:                                                                            |                            |  |                                                                                  |  |                                                                                 
|Proceeds from the sale of Series A preferred stock                                                               | -                          |  | 250,000                                                                          |  | 250,000                                                                         
|Proceeds from the sale of Series B preferred stock                                                               | 50,000                     |  | -                                                                                |  | 50,000                                                                          
|Proceeds from the common stock subscription                                                                      | 50,000                     |  | -                                                                                |  | 50,000                                                                          
|Proceeds from advances, related parties                                                                          | 213,650                    |  | 48,604                                                                           |  | 262,254                                                                         
|Proceeds from notes payable, related parties                                                                     | 67,600                     |  | -                                                                                |  | 67,600                                                                          
|Contributed capital by majority owned subsidiary                                                                 | -                          |  | 67,750                                                                           |  | 67,750                                                                          
|Net cash provided by financing activities                                                                        | 381,250                    |  | 366,354                                                                          |  | 747,604                                                                         
|                                                                                                                 |                            |  |                                                                                  |  |                                                                                 
|Net (decrease) increase in cash and cash equivalents                                                             | (55,840)                   |  | 55,907                                                                           |  | 67                                                                              
|Cash and cash equivalents, beginning of period                                                                   | $
55,907                   |  | $
-                                                                              |  | $
-                                                                             
|                                                                                                                 |                            |  |                                                                                  |  |                                                                                 
|Cash and cash equivalents, end of period                                                                         | $
67                       |  | $
55,907                                                                         |  | $
67                                                                            
|                                                                                                                 |                            |  |                                                                                  |  |                                                                                 
|Supplemental disclosures of cash flow information:                                                               |                            |  |                                                                                  |  |                                                                                 
|Cash paid during the period for:                                                                                 |                            |  |                                                                                  |  |                                                                                 
|Interest                                                                                                         | $
-                        |  | $
-                                                                              |  | $
-                                                                             
|Income Taxes                                                                                                     | $
-                        |  | $
-                                                                              |  | $
-                                                                             
|Non-cash investing and financing activities:                                                                     |                            |  |                                                                                  |  |                                                                                 
|Property, plant and equipment acquired by certain investors as capital contribution                              | $
-                        |  | $
560,000                                                                        |  | $
560,000                                                                       
|Common stock issued in settlement of notes payable and accrued interest                                          | $
357,126                  |  | $
-                                                                              |  | $
357,126                                                                       
|Notes payable issued in exchange for expenses paid by related parties                                            | $
203,657                  |  | $
265,474                                                                        |  | $
469,131                                                                       

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


F-7  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   NOTE 1  SIGNIFICANT ACCOUNTING POLICIES  A summary of the significant accounting policies applied in the presentation of the accompanying consolidated financial statements follows:  Basis and business presentation  Eco Ventures Group, Inc. (EVG or the Registrant), a public traded and holding company of our planned expanding lines of business, formerly known as Modern Renewable Technologies, Inc., was incorporated under the laws of the State of Nevada in April 2002.  In connection with the consummation of the reverse merger transaction on June 1, 2011 with Eco Ventures Group, Inc., a Florida corporation (Eco Ventures  Florida) formed on November 9, 2010 (date of inception), the accounting acquirer (see below), EVG changed its name to Eco Ventures Group, Inc., a Nevada corporation.  The historical financial statements are those of Eco Ventures  Florida, the accounting acquirer, immediately following the consummation of the reverse merger.  All references that refer to (the Company or Eco Ventures Group or "EVG" or we or us or our) are to Eco Ventures Group, Inc., the Registrant and its wholly and or majority owned subsidiaries unless otherwise differentiated, Eco Ventures Group, Inc., a Florida formed corporation.  We are in the development stage, as defined by Accounting Standards Codification subtopic 915-10, Development Stage Entities ("ASC 915-10") and specialize in the planned extraction of precious metals from mineralized waste bodies and reclaimed mine tailings and also will focus on the production of advanced biodiesel from recovered cooking oils and oil rich plants. We have not generated any revenues to date, have incurred expenses and has sustained losses since November 9, 2010 (date of inception).  Consequently, our operations are subject to all the risks inherent in the establishment of a new business enterprise.  For the period from November 9, 2010 (date of inception) through August 31, 2012, we have accumulated a deficit through its development stage of $3,117,186.  The consolidated financial statements include the accounts of the Company and its majority owned subsidiary, Eco Ventures - Florida.  All significant intercompany balances and transactions have been eliminated in consolidation.  The remaining 30% ownership of Eco Ventures  Florida as of August 31, 2012 is recorded as non-controlling interest in the consolidated financial statements.  Reverse Merger and Corporate Restructure  On May 27, 2011, the Registrant entered into a material definitive agreement for the acquisition of 70% of the capital stock of Eco Ventures Group, Inc., a Florida corporation (Eco Ventures  Florida).  The acquisition was completed on June 1, 2011 through issuance of 1,5375,00 (including 125,000 shares issued to consultants and 95,000 shares issued to officers) shares of Common Stock of the Company in exchange for 467 Shares of Eco Ventures - Florida in a tax-free share exchange. A total of 422,158 shares of Common Stock of the Registrant shall be issued to Holders of the Registrants outstanding Convertible Debentures.  Upon the conversion of all such Convertible Debentures, the Registrant had a total of 1,959,888 Shares of Common Stock issued and outstanding.  As a condition of the reverse merger transaction, the name of the Registrant was changed to Eco Ventures Group, Inc., a Nevada corporation and the Registrants OTC trading symbol has been changed to EVGI. The transaction is accounted for in substance as a reverse acquisition of the Registrant by Eco Ventures  Florida since the stockholders of Eco Ventures  Florida owned a majority of the Companys voting power immediately following the merger transaction and Eco Ventures  Floridas management has assumed operational, management and governance control in accordance with the terms of the Shareholder Agreement dated May 20, 2011.  For accounting purposes, Eco Ventures  Florida is the accounting acquirer and or the surviving entity.  Accordingly, the historical financial statements are those of Eco Ventures  Florida, the accounting acquirer, immediately following the consummation of the reverse merger.  The Company did not recognize goodwill or any intangible assets in connection with this transaction.  Estimates  The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.  F-8  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Revenue Recognition  The Company will recognize revenue in accordance with Accounting Standards Codification subtopic 605-10, Revenue Recognition (ASC 605-10) which requires that four basic criteria must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the selling prices of the products delivered and the collectability of those amounts. Provisions for discounts and rebates to customers, estimated returns and allowances, and other adjustments will be provided for in the same period the related sales will be recorded.  ASC 605-10 incorporates Accounting Standards Codification subtopic 605-25, Multiple-Element Arraignments (ASC 605-25). ASC 605-25 addresses accounting for arrangements that may involve the delivery or performance of multiple products, services and/or rights to use assets. There was no effect on implementing ASC 605-25 on the Companys financial position and results of operations, since the Company has not started generating revenue.  Cash  The Company considers cash to consist of cash on hand and temporary investments having an original maturity of 90 days or less that are readily convertible into cash.  Property and Equipment  Property and equipment are stated at cost. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings.  As of August 31, 2012, all acquired property and equipment has yet to be placed in service, therefore no depreciation was recorded for the period from November 9, 2010 (date of inception) through August 31, 2012.  Long-Lived Assets  The Company follows FASB ASC 360-10-15-3, Impairment or Disposal of Long-lived Assets, which established a primary asset approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long-lived asset to be held and used.  Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset.  Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.  Income Taxes  The Company has adopted Accounting Standards Codification subtopic 740-10, Income Taxes (ASC 740-10) which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.  Temporary differences between taxable income reported for financial reporting purposes and income tax purposes consist primarily of timing differences such as deferred officers compensation and stock based compensation accounting.  Net Loss per Common Share, basic and diluted  The Company has adopted Accounting Standards Codification subtopic 260-10, Earnings Per Share (ASC 260-10) specifying the computation, presentation and disclosure requirements of earnings per share information. Basic loss per share has been calculated based upon the weighted average number of common shares outstanding.  Shares issuable upon conversion of the Series A and Series B preferred stock have been excluded as common stock equivalents in the diluted loss per share because their effect is anti-dilutive on the computation. Diluted shares outstanding were 2,401,328 shares as of August 31, 2012.  F-9  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Stock based compensation  The Company follows Accounting Standards Codification subtopic 718-10, Compensation (ASC 718-10) which requires that all share-based payments to both employees and non-employees be recognized in the income statement based on their fair values.  As of August 31, 2012, the Company did not have any issued or outstanding stock options.  Concentrations of Credit Risk  Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash, cash equivalents and trade receivables. The Company places its cash and temporary cash investments with high credit quality institutions.  At times, such investments may be in excess of the FDIC insurance limit.  Research and Development  The Company accounts for research and development costs in accordance with Accounting Standards Codification subtopic 730-10, Research and Development (ASC 730-10). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred.  Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved as defined under the applicable agreement. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company did not incur any research and development expenses from November 9, 2010 (date of inception) through August 31, 2012.  Reliance on Key Personnel and Consultants  The Company has 2 full-time employees and no part-time employees.  Additionally, the Company has consultants performing various specialized services.  The Company is heavily dependent on the continued active participation of these current executive officers, employees and key consultants. The loss of any of the senior management or key consultants could significantly and negatively impact the business until adequate replacements can be identified and put in place.  On September 10, 2012, the Board of Directors (the Board) of Eco Ventures Group, Inc. (the Company) accepted the resignation of Paul Smith as President.   Mr. Mark Cox was appointed to President on September 10, 2012.  Fair Value  Accounting Standards Codification subtopic 825-10, Financial Instruments (ASC 825-10) requires disclosure of the fair value of certain financial instruments. The carrying amount reported in the consolidated balance sheet for accounts payable and accrued expenses, advances and notes payable approximates fair value because of the immediate or short-term maturity of these financial instruments.  Reclassification  Certain reclassifications have been made to prior periods' data to conform to the current period's presentation. These reclassifications had no effect on reported income or losses.  Recent Accounting Pronouncements  There were various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company's consolidated financial position, results of operations or cash flows.    F-10  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   NOTE 2  GOING CONCERN MATTERS  The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements from November 9, 2010 (date of inception) through August 31, 2012, the Company incurred deficit accumulated during development stage of $3,117,186, used $400,119 in cash for operating activities for the year ended August 31, 2012. In addition, the Company is in a development stage, has yet commercialized its planned business and has not generated any revenues since inception.  These factors among others may indicate that the Company will be unable to continue as a going concern for a reasonable period of time.  The Companys existence is dependent upon managements ability to develop profitable operations and or upon obtaining additional financing to carry out its planned business. Management is devoting substantially all of its efforts to the commercialization of its planned product and processes, as well as raising additional debt or equity financing in order to accelerate the development and commercialization of additional products. There can be no assurance that the Companys commercialization or financing efforts will result in profitable operations or the resolution of the Companys liquidity problems.  There can be no assurance that any additional financings will be available to the Company on satisfactory terms and conditions, if at all.  In the event the Company is unable to continue as a going concern, it may elect or required to seek protection from its creditors by filing a voluntary petition in bankruptcy or many be subject to an involuntary petition in bankruptcy.  To date, management has not considered this alternative, nor does management view it as a likely occurrence.  The accompanying consolidated statements do not include any adjustments relating to the recoverability of assets and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern.  NOTE 3  PROPERTY, PLANT AND EQUIPMENT  Property, plant and equipment as of August 31, 2012 and 2011 are comprised of the following:  August 31, 2012August 31, 2011Office furniture and fixtures$
1,667$
542Equipment149,214149,214Leasehold improvements19,64019,640Construction in process595,846560,000Total property, plant and equipment$
766,367$
729,396  As of August 31, 2012, the Company is currently in the assembly and testing mode, not in operations.  Therefore no depreciation was recorded for the period from November 9, 2010 (date of inception) through August 31, 2012.  During the period from November 9, 2010 (date of inception) through August 31, 2012, the Company received property and equipment from three investors at a fair value of $560,000. The transaction was recorded as a capital contribution.  NOTE 4  ACCOUNTS PAYABLE AND ACCRUED LIABILITIES  Accounts payable and accrued liabilities as of August 31, 2012 and 2011 are comprised of the following:  August 31, 2012August 31, 2011Accounts payable$
425,952$
39,921Accrued interest19,9525,236Accrued compensation410,596103,826Total accounts payable and accrued liabilities$
856,500$
148,983  F-11  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Upon the completion of the reverse merger transaction, the Company determined certain liabilities have been forgiven by the creditors/shareholders, which is deemed as extinguished as of August 31, 2011. Accordingly, the Company has recorded a gain on forgiveness of debt of $261,793 that related to the write-off of these extinguished liabilities during the year ended August 31, 2011.   NOTE 5  NOTES PAYABLE, RELATED PARTIES  Notes payable as of August 31, 2012 and 2011 are comprised of the following:  August 31, 2012August 31, 2011Note payable, 8% per annum, due on demand, unsecured$
-$
265,474Note payable, 8% per annum, due on demand, unsecured23,821Note payable, 8% per annum, due on demand, unsecured34,075Note payable, 8% per annum, due on demand, unsecured16,317-Note payable, 8% per annum, due on demand, unsecured37,827Note payable, 8% per annum, due on demand, unsecured10,053Note payable, 8% per annum, due on demand, unsecured15,933-Total$
138,026$
265,474  From November 9, 2010 (date of inception) through August 31, 2011, the Company issued two notes in the aggregate of $265,474 in exchange for operating expenses paid on behalf of the Company by two shareholders of its majority owned subsidiary.  The notes bear an 8% per annum interest rate, unsecured and are due on demand.  During the year ended August 31, 2012, the Company issued an aggregate of 1,783,203 shares of common stock, valued at $0.45 - $1.60 per share in settlement of $357,124 of the outstanding notes payable and accrued interest and recorded a loss on settlement of notes payable and accrued interest of $656,000.  During the year ended August 31, 2012, the Company issued six notes totaling $138,026 in exchange for operating funds provided by a shareholder of its majority owned subsidiary.  The notes bear an 8% per annum interest rate, unsecured and are due on demand.   NOTE 6  STOCKHOLDERS' EQUITY  Preferred Stock  The Company is authorized to issue 100,000,000 shares of preferred stock with a par value of $0.001 per share.  The Company's preferred stock may be divided into such series as may be established by the Board of Directors. The Board of Directors may fix and determine the relative rights and preferences of the shares of any series established.  Series A Cumulative Convertible Preferred Stock ("Series A")  In August, 2011, the Company designated 4,000,000 shares of authorized preferred stock as Series A Redeemable Convertible Preferred stock ("Series A").   F-12  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Voting rights


|   |                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|a) | The Company shall not, without the affirmative consent of the holders of seventy-five percent of the Series A Preferred Stock, in any manner alter or change the designations, or the powers, preferences, rights, qualifications, limitations, or restrictions or increase the number of authorized shares of the Series A Preferred Stock in any manner.                                                             
|b) | Except as provided below, the holders of the Series A Preferred Stock shall not have any right to vote their Series A Preferred Stock in any manner.                                                                                                                                                                                                                                                                   
|c) | Notwithstanding the provisions above, on all matters coming before the holders of preferred stock of the Company, as a class, or coming before the holders of the Series A Preferred Stock of the Company, as a class, the holders of the Series A Preferred Stock shall have the right to vote their Series A Preferred Stock with each such share of stock being entitled to one (1) vote on any or all such matters.

Dividends  In each year, beginning six months from issuance, the holders of the Series A Preferred Stock shall be entitled to receive when and as declared by the Board of Directors of the Corporation, out of funds legally available for that purpose, quarterly dividends payable January 1, April 1, July 1 and October 1 in each year, commencing on July 1, 2012 in an amount equal to twenty percent (20%) of "Adjusted Gross Revenue" earned during that quarter.  Adjusted Gross Revenue is defined as gross revenue less licensing fees, royalties, third party payments, mineral extraction, mining expenses, crushing and shipping.  Said dividends shall continue until such time as the holder had received dividends in the amount that equals one hundred and eight percent (108%) of their original investment, after which time, the investor shall receive five percent (5%) of the Adjusted Gross Income for a period of twelve months.  In the case of the original issuance of shares of the Series A Preferred Stock, dividends shall begin to accrue and be cumulative from October 1, 2011. In the case of share of Series A Preferred Stock issued after October 1, 2011, but prior to any Dividend Payment Date, dividends shall begin to accrue and be cumulative from the date of issue to the next Dividend Payment Date; provided, however, that if dividends are not paid on any such Dividend Payment Date, then dividends shall accrue and be cumulative from the Dividend Payment Date to the date such dividends have been paid. Dividends paid on shares of Series A Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated on a pro-rata on a share-by-share basis among all such Series A Preferred shares outstanding at the time. The Board of Directors may fix a record date for the determination of holders of the Series A Preferred Stock entitled to receive payment of a dividend declared thereon, which record date shall be no more than sixty days prior to the date fixed for the payment thereof.  Whenever dividends payable on the Series A Preferred Stock as provided above are in arrears, thereafter and until dividends, including all accrued dividends, on shares of the Series A Preferred Stock outstanding shall have been paid in full or declared and set apart for payment, the Corporation shall not (i) pay dividends on any common stock of the Corporation, or (ii) purchase or otherwise acquire for consideration any share of Series A Preferred Stock, unless required or as otherwise provided.  Redemption rights  The Company may, at any time and from time to time, after total dividends paid per share equal at least $2.00, redeem all or a portion of the then outstanding shares of the Series A Preferred Stock at the stated value thereof (namely $2.00 per share) plus accrued and unpaid dividends thereon (cumulatively the Redemption Amount) by either (i) a check to the Redemption Amount or (ii) such number of shares of common stock of the Corporation as determined by dividing the market value as calculated of such common stock as of the date set by the Company for such redemption, into the Redemption Amount.   F-13  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Liquidation rights  Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary, then the holders of the Series A Preferred Stock shall not be entitled to receive any amounts with respect to their shares of Series A Preferred Stock until payment in full has been made to the holders of the Corporations Series B Preferred Stock and Senior Convertible Preferred Stock of amounts which such holders may be entitled to receive upon liquidation. After such payments have been made in full to the Holders of the Companys Series B Preferred Stock and Senior Convertible Preferred Stock and prior to any payments upon liquidation being made to the holders of the common stock of the Corporation, the holders of the Series A Preferred Stock shall be entitled to receive an amount per share equal to $1,000.00 (the Series A Liquidation Amount). The Series A Liquidation Amount shall be paid pari-passu with any payments upon liquidation to holders of any other class preferred stock of the Corporation. If the assets of the Corporation are insufficient to pay to the holders of the Series A Preferred Stock the full amount of the Series A Liquidation Amount to which they shall be entitled, then any amounts to be distributed to the holders of the Series A Preferred Stock shall be distributed pro rata to such holders.  Conversion rights  Subsequent to July 1, 2012, each share of Series A Preferred Stock shall be convertible at the option of the holder thereof (except as prohibited by law), in full or in part, based on the number of shares of Series A preferred stock to be converted, multiplied by the Series A issue price ($2.00 per share), plus any cumulative and unpaid dividends divided by the Series A conversion price in effect at the time of the conversion.  As of August 31, 2012 and 2011, 75,000 shares of Series A Redeemable Convertible Preferred Stock were issued and outstanding.  Also, during the year ended August 31, 2011, the Company received $100,000 as a subscription for 40,000 shares of Series A preferred stock and is shown as a preferred stock subscription as of August 31, 2012 and 2011 in the accompanying consolidated financial statements, which the Company has not yet issued the Series A preferred stock as the filing date of this report.  As per the subscription agreement for 75,000 preferred stock Series A issued, each Series A shares will be converted into one share of the Companys common stock and one share of Raptor Technology Group, Inc.  Series B Cumulative Convertible Preferred Stock ("Series B")  In September 2011, the Company designated 6,120,800 shares as Series B Cumulative Convertible Preferred stock  Voting rights


|   |                                                                                                                                                                                                                                                                                                                                                                                                                         | 
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | 
|a) | The Company shall not, without the affirmative consent of the holders of seventy-five percent of the Series B Preferred Stock, in any manner alter or change the designations, or the powers, preferences, rights, qualifications, limitations, or restrictions or increase the number of authorized shares of the Series B Preferred Stock in any manner.                                                             
|b) | Except as provided below, the holders of the Series B Preferred Stock shall not have any right to vote their Series B Preferred Stock in any manner.                                                                                                                                                                                                                                                                    | 
|c) | Notwithstanding the provisions above, on all matters coming before the holders of preferred stock of the Company, as a class, or coming before the holders of the Series B Preferred Stock of the Company, as a class, the holders of the Series B Preferred Stock shall have the right to vote their Series B Preferred Stock with each such share of stock being entitled to one (1) vote on any or all such matters.

Dividends  In each year the holders of the Series B Preferred Stock shall be entitled to receive when and as declared by the Board of Directors of the Corporation, out of funds legally available for that purpose, an annual dividend in an amount equal to Eight percent (8%) per annum (that is, $0.20 per share on an annual basis) payable monthly (the Dividend Payment Date), plus a pro-rated Bonus Dividend equal to the amount of the Bonus Dividend Pool on each Dividend Payment Date divided by the number of Shares of Series B Preferred Stock issued and outstanding on each Dividend Payment Date.  The Bonus Dividend  F-14  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Pool shall consist of Twenty percent (20%) of the Companys adjusted gross revenue for each fiscal year preceding the Dividend Payment Date until such time as the Company has paid a total of $2.50 in dividends per share, after which time the Bonus Dividend Pool shall consist of Five percent (20%) of the Companys adjusted gross revenue for one (1) additional fiscal year.  Adjusted gross revenue is defined as gross revenue less license fees, royalties, and mining expenses, and which are attributable to business operations financed by the proceeds of the sales of Series B Preferred Stock.  In the case of the original issuance of shares of the Series B Preferred Stock, dividends shall begin to accrue and be cumulative from October 1, 2011. In the case of share of Series B Preferred Stock issued after October 1, 2011, but prior to any Dividend Payment Date, dividends shall begin to accrue and be cumulative from the date of issue to the next Dividend Payment Date; provided, however, that if dividends are not paid on any such Dividend Payment Date, then dividends shall accrue and be cumulative from the Dividend Payment Date to the date such dividends have been paid. Dividends paid on shares of Series B Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated on a pro-rata on a share-by-share basis among all such Series B Preferred shares outstanding at the time. The Board of Directors may fix a record date for the determination of holders of the Series B Preferred Stock entitled to receive payment of a dividend declared thereon, which record date shall be no more than sixty days prior to the date fixed for the payment thereof.  Whenever dividends payable on the Series B Preferred Stock as provided above are in arrears, thereafter and until dividends, including all accrued dividends, on shares of the Series B Preferred Stock outstanding shall have been paid in full or declared and set apart for payment, the Corporation shall not (i) pay dividends on any common stock of the Corporation, or (ii) purchase or otherwise acquire for consideration any share of Series B Preferred Stock, unless required or as otherwise provided.  Redemption rights  The Company may, at any time and from time to time, after total dividends paid per share equal at least $2.50, redeem all or a portion of the then outstanding shares of the Series B Preferred Stock at the stated value thereof (namely $2.50 per share) plus accrued and unpaid dividends thereon (cumulatively the Redemption Amount) by either (i) a check to the Redemption Amount or (ii) such number of shares of common stock of the Corporation as determined by dividing the market value as calculated of such common stock as of the date set by the Company for such redemption, into the Redemption Amount.  Liquidation rights  Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary, then the holders of the Series A Preferred Stock shall not be entitled to receive any amounts with respect to their shares of Series A Preferred Stock until payment in full has been made to the holders of the Corporations Series B Preferred Stock of amounts which such holders may be entitled to receive upon liquidation. After such payments have been made in full to the Holders of the Companys Series B Preferred Stock and prior to any payments upon liquidation being made to the holders of the common stock of the Corporation, the holders of the Series B Preferred Stock shall be entitled to receive an amount per share equal to $2.50 (the Series B Liquidation Amount). The Series B Liquidation Amount shall be paid pari-passu with any payments upon liquidation to holders of any other class preferred stock of the Corporation. If the assets of the Corporation are insufficient to pay to the holders of the Series B Preferred Stock the full amount of the Series B Liquidation Amount to which they shall be entitled, then any amounts to be distributed to the holders of the Series B Preferred Stock shall be distributed pro rata to such holders.  Conversion rights  Subsequent to one (1) year from the date of issuance, each share of Series B Preferred Stock shall be convertible at the option of the holder thereof (except as prohibited by law), in full or in part,  into one point nine two (1.92) shares of fully paid and non-assessable shares of common stock of the Company provided.  During the year ended August 31, 2012, the Company issued 20,000 shares of its Series B Redeemable Convertible Preferred stock in exchange for proceeds of $50,000, valued at $2.50 per share.   F-15  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   As of August 31, 2012 and 2011, 20,000 and nil shares of Series B Cumulative Redeemable Convertible Preferred Stock were issued and outstanding, respectively.  Common stock  The Company is authorized to issue 750,000,000 shares of $0.001 par value common stock as of August 31, 2012.  As of August 31, 2012 and 2011, 35,606,841 and 1,959,888 shares of the Company's common stock were issued and 4,511,841 and 1,959,888 shares of the Company's common stock were outstanding, respectively.  On May 25, 2012 the shareholders and the board of directors of the Company approved a one (1) share for every forty (40) share reverse stock split.  The reverse stock split had a record date of May 29, 2012 and an effective date of July 11, 2012.  All per share amounts in these consolidated financial statements and accompanying notes have been retroactively adjusted to the earliest period presented for the effect of this reverse stock split.  In May 2011, in connection with entering a joint venture (See Note 10 below), the Company issued an aggregate of 125,000 shares of its common stock in exchange for services rendered with a fair value of $100,000.  In May 2011, in connection with the reverse merger transaction, the Company issued an aggregate of 56,288 shares of its common stock in exchange for old notes payable of $349,726.  In May, 2011, in connection with the reverse merger transaction, the Company issued an aggregate of 95,000 shares of its common stock in exchange for two officers compensation with a fair value of $76,000.  In May, 2011, in connection with the reverse merger transaction, the Company issued an aggregate of 1,317,500 shares of its common stock in exchange for 467 shares or 70% interest of Eco Ventures - Florida (See Note 1 above).  On November 23, 2011, the Company issued, but held in escrow, 95,000 shares of its common stock pursuant to officer's employment agreements at par value.  On November 23, 2011, the Company issued 1,250 shares of its common stock in exchange for officer's compensation with a fair value of $4,500, valued at $3.60 per share.  On January 27, 2012, the Company issued 20,000 shares of its common stock in exchange for notes payable in the amount of $32,000, valued at $1.60 per share.  On February 21, 2012, the Company issued 42,691 shares of its common stock in exchange for a note payable in the amount of $68,737 valued at $1.60 per share.  On February 26, 2012, the Company issued 20,000 shares of its common stock in exchange for notes payable in the amount of $32,000, valued at $1.60 per share.  On March 23, 2012, the Company issued 100,242 shares of its common stock in exchange for a note payable in the amount of $160,387, valued at $1.60 per share.  On April 18, 2012, the Company issued 11,250 shares of its common stock as employee compensation in the amount of $9,000 valued at the closing stock price of $0.80.  On July 23, 2012, the Company issued, but held in escrow 31,000,000 shares of its common stock.  On August 1, 2012, the Company issued 1,600,000 shares of its common stock in exchange for a note payable and accrued interest in the amount of $64,000, valued at $0.45 per share. The Company recorded a loss on settlement of debt of $656,000 during the year ended August 31, 2012.   F-16  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   On August 8, 2012, the Company issued 6,250 shares of its common stock in exchange services rendered in the amount of $6,250 valued at $1 per share.  On August 22, 2012, Company received subscription money of $50,000 for 100,000 shares of restricted common stock, valued at $0.50 per share.  On August 22, 2012, the Company issued 750,000 shares of its common stock in exchange for services rendered in the amount of $530,000 valued at $0.70-$0.80 per share  In consideration for services rendered during the fourth quarter ended August 31, 2012 by a consulting firm, the Company issued 1,600,000 shares of its common stock on October 4, 2012 and charged to operation as stock based compensation of $480,000 fair valued at $0.30 per share during the year ended August 31, 2012.  In addition, in consideration for services rendered in August 2012 by Mark Cox, the Company will subsequently issue 125,000 shares of its common stock and charged to operation as stock based compensation of $122,500 valued at $0.98 per share during the year ended August 31, 2012.  As per employment agreement, the Company charged to operation as a stock based compensation of $129,853, fair value of 31,667 of shares of its restricted stock to the President and CEO for the year ended August 31, 2012.   NOTE 7 - STOCK OPTIONS  On July 26, 2011, the 2011 Incentive Stock Option Plan (the 2011 Plan) which provides incentive stock and non-statutory options to be granted to select employees, directors and consultants of the Company was approved by the Board of Directors and reserved 10.0 million shares of the Companys common stock for the 2011 Plan.  As of August 31, 2012 and 2011, the Company has not granted any stock options under the 2011 Plan.   NOTE 8 - RELATED PARTY TRANSACTIONS  The Companys current officers and shareholders have advanced funds to the Company for travel related and working capital purposes.  No formal repayment terms or arrangements existed. There were $315,240 and $48,604 advances due at August 31, 2012 and August 31, 2011, respectively.  As described in Note 5, above, from November 9, 2010 (date of inception) through August 31, 2011, the Company issued two notes in the aggregate of $265,474 and during the year ended August 31, 2012, the Company issued six notes in the aggregate of $138,026 to the non-controlling interest shareholders of Eco Ventures  Florida.  The notes bear an 8% per annum interest rate, unsecured and are due on demand. The Company charged interest expense of $26,123 and $5,237 for related party notes for the year ended August 31, 2012 and for the period from November 9, 2010 (date of inception) through August 31, 2011, respectively and $31,360 for the period November 9, 2010 (date of inception) through August 31, 2012.  Also, as per employment agreement, the Company charged to operations salary expenses to Chief Executive Officer, Randall Lanham and ex-president and ex-chief financial officer Paul Smith of $300,000 and $50,000 for the year ended August 31, 2012 and for the period from November 9, 2010 (date of inception) through August 31, 2011, respectively, and $350,000 for the period November 9, 2010 (date of inception) through August 31, 2012.  During the year ended August 31, 2012, the Company Charged to operation as stock based compensation $122,500 valued at $0.98 per share of the 125,000 shares for services rendered in August 2012 by Mark Cox, who became the Companys Chief Financial Officer effective September 10, 2012.   F-17  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   NOTE 9 - NON CONTROLLING INTEREST  The remaining 30% ownership of Eco Ventures  Florida is recorded as Non Controlling interest in the unaudited condensed consolidated financial statements.   F-18  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   A reconciliation of the non controlling loss attributable to the Company:  Net loss Attributable to the Company and transfers (to) from non-controlling interest for the year ended August 31, 2012:  Net loss$3,135,749Average Non-controlling interest percentage30.0%Net loss attributable to the non-controlling interest$940,725  The following table summarizes the changes in Non-Controlling Interest from November 9, 2010 (date of inception) through August 31, 2012.  Balance, November 9, 2010 (date of inception)$-Non controlling interest portion of contributed capital188,325Net loss attributable to the non-controlling interest(163,652)Balance, August 31, 201124,673Net loss attributable to the non-controlling interest(940,725)Balance,  August 31, 2012$(916,052)  NOTE 10 -COMMITMENTS AND CONTINGENCIES  Employment Agreement  Mark Cox.  In August, 2012, the Board of Directors (the Board) of Eco Ventures Group, Inc. (the Company) elected Mark Cox as the Companys President. The Company entered into an Executive Employment Agreement (the Agreement) with Mr. Cox.  Pursuant to this Agreement, the Company shall pay Mr. Cox an annual salary at the rate of $150,000 a year during the Employment Period, however Mr. Cox will forgo 100% of his salary until the Company receives a significant portion of its financing to expand its operations and execute its business plan. In addition, the Company issued to Mr. Cox one hundred and twenty thousand (125,000) shares of its restricted stock valued at $0.98 per share and charged to operations as a stock based compensation of $122,500 during the year ended August 31, 2012.  Mr. Cox shall receive an additional one hundred and twenty thousand (125,000) shares upon successful completion of his sixty (60) day review.  Upon successful completion of a one and twenty (120) day review period, the Company shall also award an additional 50,000 shares of its "restricted stock" for each month that Mr. Cox remains in the employ of the Company, up to a maximum of twenty-four (24) months. The amended agreement dated September 10, 2012 state the effective date of appointment as September 10, 2012 but the stock award of 125,000 restricted shares shall remain earned as of August 7, 2012 and other term to be remain as same.  Randall Lanham. The Company entered into an employment contract on July 1, 2011 with Mr. Lanham as Chief Executive Officer for a period of 3 years at an annual salary of $300,000.  Mr. Lanham will however forgo 50% of his salary until the Company receives a significant portion of its financing to expand its operations and execute its business plan. Mr. Lanham is entitled to an annual bonus to equal to 1% of the Companys EBITA for each fiscal year during the Employment Period but not to exceed $500,000.  Mr. Lanham received 47,500 shares of the Companys common stock in conjunction with the reverse merger transaction. The Company shall award an additional 1,319 shares of its "restricted stock" for each month that Mr. Lanham remains in the employ of the Company, up to a maximum of thirty-six (36) months.  Paul Smith. The Company entered into an employment contract on July 1, 2011 with Mr. Smith as our President and Chief Financial Officer for a period of 3 years at an annual salary of $300,000.  Mr. Smith will however forgo 50% of his salary until the Company receives a significant portion of its financing to expand its operations and execute its business plan. Mr. Smith is entitled to an annual bonus to equal to 1% of the Companys EBITA for each fiscal year during the Employment Period but not to exceed $500,000.  Mr. Smith received 47,500 shares of the Companys common stock in conjunction with the reverse merger transaction.   The Company shall award an additional 1,319 shares of its "restricted stock" for each month that Mr. Smith remains in the employ of the Company, up to a maximum of thirty-six (36) months. On September 10, 2012, the Board of Directors (the Board) of Eco Ventures Group, Inc. (the Company) accepted the resignation of Paul Smith as President (see Note 13 Subsequent Events).   F-19  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   Operating Lease Commitments  The Company's initial headquarters, operations and manufacturing facilities are located at 7432 State Road 50, Suite 101, Groveland, FL, in a light-industrial complex 25 miles west of Orlando, FL. The Company has leased an office / warehouse complex with a large warehouse facility for its planned Mineral Recovery Operation and Bio-Diesel Operation. The warehouse contains the completed 5,000 ton per year facility, which is already plumbed for expansion to a 10,000 concentrated ton per year facility. The leases shall be for a period of Eleven (11) year term commencing April 1, 2011. The Company has an option to extend the term of these leases for five successive periods of one year each with a 3.5% escalation clause upon each renewal.  Minimum lease payments are as follows:  Year ended August 31,2013$
185,8672014192,3722015199,1052016206,0742017213,286Thereafter1,076,098Total$
2,072,801  Joint Venture Agreements  On April 28, 2011, the Company entered into a joint venture agreement for the purpose of acquiring fifty percent (50%) ownership of certain intellectual property.  In exchange for the fifty percent ownership, the Company is obligated to provide funding to build a facility to process mineral tailing with production of 2,000 tons per year.  Each party of the joint venture shall share in the gross proceeds on a fifty/fifty basis; gross proceeds is total sales less amounts due tailing/mineralized waste provider and operating costs estimated at $2,000 per ton.  In conjunction with the Joint Venture Agreement, the Company issued an aggregate of 125,000 shares of its common stock to consultants for services rendered as compensation with a fair value of $100,000, which were recorded in the operations during the year ended August 31, 2011.  In addition, each member of the joint venture shall be entitled to one board seat on the other's board of directors.  Reorganization Agreement and Deal Flow Agreement  On July 30, 2012, the Board of Directors of Eco Ventures Group, Inc. (OTCBB: EVGI)(the Company) ratified a definitive Reorganization Agreement (the Agreement) between the Company and Energiepark Supitz GmbH (Energiepark) whereby the Company will acquire 75% of the Shares of Energiepark in exchange for Shares of the Company which, upon issuance, will constitute 30% of the issued and outstanding Shares of Common Stock of the Company (the Acquisition Shares), and cash consideration of $3,000,000.  The Company has the option to acquire the remaining 25% of the Shares of Energiepark at a price which will be equal to 25% of the net value of the combined companies, as defined in the Agreement.  The Agreement was signed and notarized by Energiepark, in accordance with German law, on August 1, 2012.  Per the agreement, the Company has until February 24, 2013 to complete the acquisition.  The Company is currently reviewing term sheets, but has not nor confirmed funding.  F-20  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   As part of the Pre-Closing conditions of the Agreement Eco Ventures Group, Inc took the following actions:  (a) The Board of Directors of EVGI shall unanimously approve and deliver to Cutler Law Group, P.C. (Escrow Agent) resolutions with respect to approving the Transactions set forth herein and share certificates issued in accordance with the below schedule (Escrowed Shares):   F-21  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   (b) Ryze Capital N.A. LLC  Seventeen million, nine hundred thousand shares (17,900,000);  (c) Adobe International, Inc.  Nine million shares (9,000,000);  (d) Summit Trading, LLC.  One million, eight hundred and fifty thousand shares (1,850,000);  (e) It was agreed that the Chairman of the Board of EVGI shall have the right to vote the stock until such time as the Energiepark Süptitz GmbH and EVGI business combination is complete (EPS  EVGI Transaction).  In connection with the deal flow agreement, the Company also approved and delivered to Cutler Law Group (escrow agent) 2,250,000 shares of common stock to Randall Lanham as a commission upon closing of the deal flow agreement.  Broken Hills, LLC.  The Company entered a mining agreement to supply mineralized waste for processing with Broken Hills, LLC.  The agreement stipulates the companies will split gross receipt revenues.  The Company will retain sixty percent (60%) of gross receipt revenue, while Broken Hills, LLC. will receive forty percent (40%) of gross receipt revenue for the initial twenty-thousand (20,000) tons of raw mineralized waste processed.  Once production has reached twenty-thousand tons of mineralized waste processed, the Companies will split gross receipt revenues in a manner of ninety-five percent (95%) for the Company and five percent (5%) to Broken Hills, LLC.  Litigation  The Company is subject at times to other legal proceedings and claims, which arise in the ordinary course of its business.  Although occasional adverse decisions or settlements may occur, the Company believes that the final disposition of such matters should not have a material adverse effect on its financial position, results of operations or liquidity.  There was no outstanding litigation as of August 31, 2012.   NOTE 11  INCOME TAXES  The Company follows Accounting Standards Codification subtopic 740-10, Income Taxes (ASC 740-10) which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Temporary differences between taxable income reported for financial reporting purposes and income tax purposes include, but not limited to, accounting for intangibles, debt discounts associated with convertible debt, equity based compensation and depreciation and amortization.  At August 31, 2012, the Company has available for federal income tax purposes a net operating loss carryforward of approximately $2,988,000 which expiring through the fiscal tax year 2031, that may be used to offset future taxable income. The Company has provided a valuation reserve against the full amount of the net operating loss benefit, since in the opinion of management based upon the earnings history of the Company; it is more likely than not that the benefits will not be realized. Based upon the change in ownership rules under section 382 of the Internal Revenue Code of 1986, if in the future the Company issues common stock or additional equity instruments convertible in common shares which result in an ownership change exceeding the 50% limitation threshold imposed by that section, all of the Companys net operating losses carryforwards may be significantly limited as to the amount of use in a particular years. Components of deferred tax assets as of August 31, 2012 are as follows. All or portion of the remaining valuation allowance may be reduced in future years based on an assessment of earnings sufficient to fully utilize these potential tax benefits.   F-22  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   At August 31, 2012 and 2011, the significant components of the deferred tax assets (liabilities) are summarized below:  August 31, 2012August 31, 2011Net operating loss carry forwards expiring through fiscal tax year 2031$
2,988,000$
285,000Deferred tax asset1,045,80099,750Less valuation allowance(1,045,800)(99,750)Balance$
-$
-Net operating loss carry forwards 2012 (estimated)$
2,988,000$
285,000Balance$
2,988,000$
285,000  The difference between income tax expense computed by applying the federal statutory corporate tax rate and actual income tax expense for August 31, 2012 and 2012 is as follows:  August 31, 2012August 31, 2011Statutory federal income tax rate35.0%35.0%State income taxes and other0.0%0.0%Effective tax rate35.0%35.0%  Deferred income taxes result from temporary differences in the recognition of income and expenses for the financial reporting purposes and for tax purposes. The tax effect of these temporary differences representing deferred tax asset and liabilities result principally from the following:  August 31, 2012August 31, 2011Deferred Tax Asset (Liability):Net operating loss carry forward$
1,045,800$
99,750Subtotal1,045,80099,750Valuation allowance(1,045,800)(99,750)Net Deferred Tax Asset (Liability)$
-$
-  The Company has not yet filed its tax returns for the period from November 9, 2010 (date of inception) through August 31, 2012.  The provisions of ASC 740 require companies to recognize in their financial statements the impact of a tax position if that position is more likely than not to be sustained upon audit, based upon the technical merits of the position. ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods and disclosure.  Management does not believe that the Company has any material uncertain tax positions requiring recognition or measurement in accordance with the provisions of ASC 740. Accordingly, the adoption of these provisions of ASC 740 did not have a material effect on the Companys consolidated financial statements. The Companys policy is to record interest and penalties on uncertain tax positions, if any, as income tax expense.  The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expenses. As of August 31, 2012, the Company has no unrecognized tax benefit from uncertain tax positions, including interest and penalties.  All tax years for the Company remain subject to future examinations by the applicable taxing authorities.  F-23  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012     F-24  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   NOTE 12  PROPOSED AQUISITION  On May 25, 2012, the Board of Directors of Eco Ventures Group, Inc. (OTCBB: EVGI) ratified a Binding Letter of Intent (the Agreement) between the Company and Energiepark Supitz GmbH (Energiepark) whereby the Company will acquire 100% of the Shares of Energiepark in exchange for Shares of the Company which, upon issuance, will constitute 30% of the issued and outstanding Shares of Common Stock of the Company (the Acquisition Shares), and cash consideration of $7,000,000.  On July 30, 2012, the Board of Directors of the Company ratified a definitive Reorganization Agreement (the Agreement) between the Company and Energiepark Supitz GmbH (Energiepark) whereby the Company will acquire 75% of the Shares of Energiepark in exchange for Shares of the Company which, upon issuance, will constitute 30% of the issued and outstanding Shares of Common Stock of the Company (the Acquisition Shares), and cash consideration of $3,000,000.  The Company has the option to acquire the remaining 25% of the Shares of Energiepark at a price which will be equal to 25% of the net value of the combined companies, as defined in the Agreement.  The Agreement was signed and notarized by Energiepark, in accordance with German law, on August 1, 2012.  Per the agreement, the Company has until February 24, 2013 to complete the acquisition. The Company is currently reviewing term sheets, but has not nor confirmed funding.  Pursuant to the Agreement, a definitive agreement (the Definitive Agreement) satisfactory to the Company and Seller and Sellers shareholders shall be executed by the Company, the Seller and all of Seller's shareholders on or before January 15, 2013.  The Definitive Agreement shall contain the terms, conditions, representations and warranties, covenants, due diligence and legal opinions normal and appropriate for a transaction of the type contem­plated, including,  without limitation, those summarized in the Agreement.  Upon signing the Definitive Agreement, the Company shall prepare and file with the SEC all appropriate documents including, but not limited to, a Current Report on Form 8K which will include the Definitive Agreement, a complete description of Sellers business operations, and Sellers audited and interim unaudited financial statements prepared in accordance with GAAP and/or PCAOB approved Audit statements and applicable rules and regulations of the Securities and Exchange Commission.   Süptitz, Germany-based Energiepark Süptitz is a diversified alternative energy feedstock, transportation, heat & power production company with approximately 50 employees -- whose primary business is the production, processing and brokering of bio fuel feedstocks including rapeseed, palm oil and wood.  Per the agreement, the Company has until February 24, 2013 to complete the acquisition.  The Company is currently reviewing term sheets, but has not nor confirmed funding.   NOTE 13  SUBSEQUENT EVENTS  Resignation of Paul Smith  On September 10, 2012, the Board of Directors (the Board) of Eco Ventures Group, Inc. (the Company) accepted the resignation of Paul Smith as President.  In accordance with agreement, Mr. Smiths shall receive all stock earned prior to resignation totaling 3,850,000 shares of pre-split stock, with a total common stock of 96,250 post reverse stock split as of September 10, 2012. Smith shall receive an additional 300,000 shares of stock as compensation for remaining on the Advisory Board of Eco Ventures. Also, Smith waived his right to any back salary or cash compensation for services. As of August 31, 2012, the Company has an accrued compensation payable to Smith of $180,297.  Equity Transactions  On October 4, 2012, the Company issued to Zodiac Investments, LLC 1,600,000 shares of its authorized but unissued capital in restricted common stock.  This was in consideration for services rendered during the fourth quarter ended August 31, 2012. The Company charged to operation as stock based compensation during the year ended August 31, 2012, fair value of 1,600,000 common stock of $480,000 valued at $0.30 per share.  F-25  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012     F-26  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012   On November 1, 2012 the Company issued to Pius Schneider a total of 100,000 shares of its authorized but unissued capital in restricted common stock out of common stock subscription received during the year ended August 31, 2012. This was in consideration for Mr. Schneider purchasing the shares at a price of $0.50 per share through a subscription agreement.  On November 1, 2012 and November 21, 2012 the Company issued to Pius Schneider a total of 42,858 shares of its authorized but unissued capital in restricted common stock. This was in consideration for Mr. Schneider purchasing the shares at a price of $0.35 per share through a subscription agreement.  On November 1, 2012 and November 21, 2012 the Company issued to Amar Bhatia a total of 42,858 shares of its authorized but unissued capital in restricted common stock. This was in consideration for Mr. Bhatia purchasing the shares at a price of $0.35 cents per share through a subscription agreement.  On November 21, 2012, the Company issued to CorProminence, LLC 250,000 shares of its authorized but unissued capital in restricted common stock.  This was in consideration for services rendered and was valued at $0.23, closing market price on November 21, 2012.  On December 13, 2012, the Company entered into a one hundred thousand dollar ($100,000) Note payable agreement. The Note payable plus interest and fee of $25,000 is due and payable on or before March 12, 2013 and is secured by 1,500,000 shares of restricted common stock, which were issued and held in escrow account.  The costs and fees associated with the Note payable are ($25,000) making the total due one hundred twenty five thousand dollars ($125,000). In addition, four hundred thousand (400,000) restricted common shares were issued to the lender.   F-27  ECO VENTURES GROUP, INC. (formerly Modern Renewable Technologies, Inc.) (a development stage company) Notes to the Consolidated Financial Statements August 31, 2012     F-28