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<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The financial
statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of
America and are presented in US dollars. The Company’s year end is October 31.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company
considers all highly liquid investments with original maturity of three months or less to be cash equivalents.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The preparation
of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those
estimates.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The financial
statements are presented in United States dollars. In accordance with ASC 830, “Foreign Currency Matters”, foreign
denominated monetary assets and liabilities are translated into their United States dollar equivalents using foreign exchange rates
which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the year. Gains
or losses resulting from foreign currency transactions are included in results of operations.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company
complies with Financial Accounting Standards Codification (“ASC”) 915 and Securities and Exchange Commission Act Guide
7 for its characterization of the Company as an exploration stage enterprise.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company’s
management has considered the conditions outlined in ASC 360, “Property, Plant and Equipment,” and has concluded no
impairment of the $6,500 mining claim acquisition costs on the Property has taken place for the year ended October 31, 2012. Mineral
property acquisition costs are capitalized in accordance with EITF 04-2. Mineral property exploration costs are expensed as incurred.
When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable
reserves, the costs incurred to develop such property are capitalized. To date the Company has not established any reserves on
its mineral properties.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company
reviews long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying value
may not be recoverable. If the review indicates that the carrying amount of the asset may not be recoverable, the potential impairment
is measured based on a projected discounted cash flow method using a discount rate that is considered to be commensurate with the
risk inherent in the Company's current business model. For purposes of recognition and measurement of an impairment loss, a long-lived
asset is grouped with other assets at the lowest level for which identifiable cash flows are largely independent of the cash flows
of other assets.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The
Company’s financial instruments consisted of cash, shareholder loans and accounts payable. Unless otherwise noted, it is
management’s opinion the Company is not exposed to significant interest, currency or credit risks arising from these financial
instruments.  Because of the short maturity of such assets and liabilities the fair value of these financial instruments
approximate their carrying values, unless otherwise noted.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company
follows the accrual method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities
are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and
their respective income tax basis (temporary differences).  The effect on the deferred income tax assets and liabilities
of a change in tax rates is recognized in income in the period that includes the enactment date.  At October 31, 2012,
a full deferred tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company
computes net income (loss) per share in accordance with ASC 260, "Earnings per Share" which requires presentation of
both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income
(loss) available to common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during
the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period including stock options,
using the treasury stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the
average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock
options or warrants. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company
does not expect the adoption of recently issued accounting pronouncements to have any significant impact on the Company’s
results of operations, financial position or cash flow.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">As new
accounting pronouncements are issued, the Company will adopt those that are applicable under the circumstances.</p>
<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"> </p>
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<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>Mascot Ventures
Inc</b>. (“The Company”) was incorporated in the State of Nevada on September 25, 2007 to engage in the acquisition,
exploration and development of natural resource properties.  The Company is in the exploration stage with no revenues
and limited operating history.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">These financial
statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge
its liabilities in the normal course of business for the foreseeable future. The Company anticipates future losses in the development
of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue
as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary
financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management
intends to finance operating costs over the next twelve months with existing cash on hand, loans from directors and/or issuance
of common shares.</p>
<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"> </p>
<p style="margin: 0pt"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><u>Basis of Presentation</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The financial statements of the
Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are
presented in US dollars. The Company’s year end is October 31.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><u>Cash and Cash Equivalents</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company considers all highly
liquid investments with original maturity of three months or less to be cash equivalents.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><u>Use of Estimates and Assumptions</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The preparation of financial statements
in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><u>Foreign Currency Translation</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The financial statements are presented
in United States dollars. In accordance with ASC 830, “Foreign Currency Matters”, foreign denominated monetary assets
and liabilities are translated into their United States dollar equivalents using foreign exchange rates which prevailed at the
balance sheet date. Revenue and expenses are translated at average rates of exchange during the year. Gains or losses resulting
from foreign currency transactions are included in results of operations.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><u>Exploration Stage Company</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company complies with Financial
Accounting Standards Codification (“ASC”) 915 and Securities and Exchange Commission Act Guide 7 for its characterization
of the Company as an exploration stage enterprise.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><u>Mineral Interests</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company’s management has
considered the conditions outlined in ASC 360, “Property, Plant and Equipment,” and has concluded no impairment of
the $6,500 mining claim acquisition costs on the Property has taken place for the year ended October 31, 2012. Mineral property
acquisition costs are capitalized in accordance with EITF 04-2. Mineral property exploration costs are expensed as incurred. When
it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves,
the costs incurred to develop such property are capitalized. To date the Company has not established any reserves on its mineral
properties</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><u>Impairment of Long-lived Assets</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company reviews long-lived assets
for indicators of impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable.
If the review indicates that the carrying amount of the asset may not be recoverable, the potential impairment is measured based
on a projected discounted cash flow method using a discount rate that is considered to be commensurate with the risk inherent in
the Company's current business model. For purposes of recognition and measurement of an impairment loss, a long-lived asset is
grouped with other assets at the lowest level for which identifiable cash flows are largely independent of the cash flows of other
assets.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><u>Fair Value of Financial Instrument</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company’s financial instruments
consisted of cash, shareholder loans and accounts payable. Unless otherwise noted, it is management’s opinion the Company
is not exposed to significant interest, currency or credit risks arising from these financial instruments.  Because of
the short maturity of such assets and liabilities the fair value of these financial instruments approximate their carrying values,
unless otherwise noted.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><u>Income Taxes</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company follows the accrual
method of accounting for income taxes.  Under this method, deferred income tax assets and liabilities are recognized
for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective
income tax basis (temporary differences).  The effect on the deferred income tax assets and liabilities of a change in
tax rates is recognized in income in the period that includes the enactment date.  At October 31, 2012, a full deferred
tax asset valuation allowance has been provided and no deferred tax asset has been recorded.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><u>Basic and Diluted Net Income
(Loss) per Share</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company computes net income
(loss) per share in accordance with ASC 260, "Earnings per Share" which requires presentation of both basic and diluted
earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to
common shareholders (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Diluted
EPS gives effect to all dilutive potential common shares outstanding during the period including stock options, using the treasury
stock method, and convertible preferred stock, using the if-converted method. In computing diluted EPS, the average stock price
for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants.
Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><u>Recent Accounting Pronouncements</u></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Company does not expect the
adoption of recently issued accounting pronouncements to have any significant impact on the Company’s results of operations,
financial position or cash flow.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">As new accounting pronouncements
are issued, the Company will adopt those that are applicable under the circumstances.</p>
<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The
President of the Company provides management fees and office premises to the Company for a fee of $1,500 per month, the right
to which the President has agreed to assign to the Company until such time as the Company closes on an equity or debt
financing of not less than $100,000. The assigned rights are valued at $1,000 per month for executive compensation and $500
for rent. A total of $91,500 for donated management fees were charged to operating and general expenses and recorded as
donated capital (Additional Paid in Capital) for the period from September 25, 2007 (inception) to October 31, 2012. This
agreement expires November 19, 2013.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"></p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">As of 10/31/2012 there were loans
from the shareholder totaling $52,488. These advances are due on demand and carry no interest or collateral.</p>
<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">a)  </td>
<td style="width: 97%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">In October 2007 the Company issued 5,000,000 common shares of the Company to each of two Directors at $0.001 per share for cash proceeds of $5,000 from each director.</td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">b)  </td>
<td style="width: 97%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">In November 2007 the Company issued 1,500,000 common shares of the Company at $0.01 per share for cash proceeds of $15,000.</td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">c)  </td>
<td style="width: 97%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">In June 2008 the Company issued 40,000 common shares of the Company at $0.05 per share for cash proceeds of $2,000.</td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">d)</td>
<td style="width: 97%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">In November 2008, the Company authorized for issue 20,000 common shares of the Company at $0.05 per share for cash proceeds of $1,000.</td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">e)</td>
<td style="width: 97%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">In July 2009 the Company authorized for issue 150,000 common shares of the Company at $0.05 per share for cash proceeds of $7,500.</td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">f)</td>
<td style="width: 97%; font: 10pt/115% Times New Roman, Times, Serif; text-align: justify">In July 2009, the Company authorized for 150,000 common shares of the Company at $.10 per share for cash proceeds of $15,000.</td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">At October
31, 2012 there are total of 75,000,000 shares authorized and 11,860,000 shares of the Company’s common shares issued and
outstanding.</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"> </p>
192000
2027
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The cumulative
tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="line-height: 115%; text-align: justify"> </td>
<td style="line-height: 115%; text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold; text-align: center">October 31, 2012</td>
<td nowrap="nowrap" style="line-height: 115%; font-weight: bold; text-align: justify"> </td>
<td style="line-height: 115%; font-weight: bold; text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold; text-align: center">October 31, 2011</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td></tr>
<tr style="vertical-align: bottom">
<td style="line-height: 115%; text-align: justify">Deferred tax attributed:</td>
<td style="line-height: 115%; text-align: justify"> </td>
<td colspan="2" style="line-height: 115%; text-align: justify"> </td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td>
<td style="line-height: 115%; text-align: justify"> </td>
<td colspan="2" style="line-height: 115%; text-align: justify"> </td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%; line-height: 115%; text-align: justify">Net operating loss carryover</td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 9%; line-height: 115%; text-align: right">65,430</td>
<td nowrap="nowrap" style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 9%; line-height: 115%; text-align: right">49,780</td>
<td nowrap="nowrap" style="width: 1%; line-height: 115%; text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="line-height: 115%; text-align: justify">Less: change in valuation allowance</td>
<td style="line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: right">(65,430</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify">)</td>
<td style="line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: right">(49,780</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify">)</td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="line-height: 115%; text-align: justify">Net deferred tax asset</td>
<td style="line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 2.25pt double; line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">-</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td>
<td style="line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 2.25pt double; line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 2.25pt double; line-height: 115%; text-align: right">-</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td></tr>
</table>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The provision
for refundable federal income tax consists of the following for the periods ending:</p>
<p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="line-height: 115%; text-align: justify"> </td>
<td style="line-height: 115%; text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold; text-align: center">October 31, 2012</td>
<td nowrap="nowrap" style="line-height: 115%; font-weight: bold; text-align: justify"> </td>
<td style="line-height: 115%; font-weight: bold; text-align: justify"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold; text-align: center">October 31, 2011</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom">
<td style="line-height: 115%; text-align: justify">Federal income tax benefit attributed to:</td>
<td style="line-height: 115%; text-align: justify"> </td>
<td colspan="2" style="line-height: 115%; text-align: justify"> </td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td>
<td style="line-height: 115%; text-align: justify"> </td>
<td colspan="2" style="line-height: 115%; text-align: justify"> </td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%; line-height: 115%; text-align: justify">Net operating loss</td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 9%; line-height: 115%; text-align: right">15,650</td>
<td nowrap="nowrap" style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 1%; line-height: 115%; text-align: justify"> </td>
<td style="width: 9%; line-height: 115%; text-align: right">14,440</td>
<td nowrap="nowrap" style="width: 1%; line-height: 115%; text-align: justify"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="line-height: 115%; text-align: justify">Valuation allowance                                                                                              </td>
<td style="line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: right">(15,650</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify">)</td>
<td style="line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: justify"> </td>
<td style="border-bottom: black 1.5pt solid; line-height: 115%; text-align: right">(14,440</td>
<td nowrap="nowrap" style="line-height: 115%; text-align: justify">)</td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="line-height: 115%; text-align: justify; padding-bottom: 2.5pt">Net benefit</td>
<td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt"> </td>
<td style="text-align: right; border-bottom: Black 2.5pt double"> -</td>
<td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt"> </td>
<td style="text-align: right; border-bottom: Black 2.5pt double"> -</td>
<td style="padding-bottom: 2.5pt"> </td></tr>
</table>
<p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"> </p>
186000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows ASC 740. Deferred income taxes reflect the net
effect of (a) temporary difference between carrying amounts of assets and liabilities for financial purposes and the amounts used
for income tax reporting purposes, and (b) net operating loss carry-forwards. No net provision for refundable Federal income tax
has been made in the accompanying statement of loss because no recoverable taxes were paid previously. Similarly, no deferred tax
asset attributable to the net operating loss carry-forward has been recognized, as it is not deemed likely to be realized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The provision for refundable federal income tax consists of the
following for the periods ending:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center">October 31, 2012</td>
<td nowrap="nowrap" style="font-weight: bold; text-align: center"> </td>
<td style="font-weight: bold; text-align: center"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center; text-indent: 0pt">October 31, 2011</td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom">
<td>Federal income tax benefit attributed to:</td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%">Net operating loss</td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right">15,650</td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right">14,440</td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td>Valuation allowance                                                                                              </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right">(15,650</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right">(14,440</td>
<td nowrap="nowrap">)</td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td>Net benefit                                                                                                              </td>
<td> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right">-</td>
<td nowrap="nowrap"> </td>
<td> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right">-</td>
<td nowrap="nowrap"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The cumulative tax effect at the expected rate of 34% of significant items
comprising our net deferred tax amount is as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center">October 31, 2012</td>
<td nowrap="nowrap" style="font-weight: bold; text-align: center"> </td>
<td style="font-weight: bold; text-align: center"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; font-weight: bold; text-align: center">October 31, 2011</td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom">
<td>Deferred tax attributed:</td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap"> </td>
<td> </td>
<td colspan="2"> </td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 76%">Net operating loss carryover                                                                               </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right">65,430</td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right">49,780</td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td>Less: change in valuation allowance                                                                 </td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right">(65,430</td>
<td nowrap="nowrap">)</td>
<td> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right">(49,780</td>
<td nowrap="nowrap">)</td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td>Net deferred tax asset</td>
<td> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right">-</td>
<td nowrap="nowrap"> </td>
<td> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right">-</td>
<td nowrap="nowrap"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At October 31, 2012, the Company had an unused net operating loss
carry-forward approximating $192,000 that is available to offset future taxable income; the loss carry-forward will start to expire
in 2027.</p>