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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The accompanying
unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations
of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements
prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted in accordance with such
rules and regulations. The information furnished in the interim consolidated financial statements includes normal recurring adjustments
and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements.
Although management believes the disclosures and information presented are adequate to make the information not misleading, it
is suggested that these interim consolidated financial statements be read in conjunction with the Company&amp;#146;s audited financial
statements and notes thereto included in its Form 10-K filed on April 16, 2013. Operating results for the six months ended June
30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013. &amp;#9;&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Basis of Presentation</Label></Row><Row FlagID="0"><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;Fuelstream,
Inc. (the &amp;#147;Company&amp;#148;) was incorporated under the laws of the State of Delaware on July 12, 1996 under the name of &amp;#147;Durwood,Inc.&amp;#148;
From April 6, 1999 to April 9,2010, the Company operated as a sports marketing firm under the name of &amp;#147;Sportsnuts&amp;#148;Inc.
On April 9, 2010, the Company changed its name to Fuelstream, Inc. and changed its business model to become a fuel transportation
and logistics company.&lt;/font&gt;&lt;/p&gt;

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;On April 11,
2011, the Company entered into a joint venture agreement (&amp;#147;Joint Venture&amp;#148;) with Aviation Fuel International, Inc., a
Florida corporation (&amp;#147;AFI&amp;#148;) and a purchaser and reseller of aviation fuel for commercial and private aircraft. The Joint
Venture required the Company to contribute up to $200,000 in respect of supplying aviation fuel to various commercial aircraft
via tanker trucks which were intended to be acquired by the Joint Venture. The Company ultimately contributed $183,500 in connection
with the Joint Venture. On January 18, 2012, the Joint Venture was terminated upon completion of the acquisition of AFI, which
is now a wholly-owned subsidiary of the Company (refer to note 3).&lt;/font&gt;&lt;/p&gt;

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2012, the Company along with two partners formed AFI South Africa LLC (&amp;#147;AFI SA&amp;#148;),immediately the Company purchased shares
of the other partners to become 100% owner of AFI SA (refer to note 3). AFI SA was effective as Limited Liability Company under
the Act by the filing organization with the office of the Secretary of State of Florida on May 11, 2012. The Company has been
organized for the purpose of partnering with Global Aviation for brokering the sale of Fuel for aircraft in South Africa.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The preparation
of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United
States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Actual results could differ from those estimates.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The Company
recognizes revenue in accordance with Accounting Standards Codification subtopic 605-10,Revenue Recognition (&amp;#147;ASC 605-10&amp;#148;)
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.
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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&amp;#147;US
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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 11pt"&gt;The Company considers cash to consist
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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The Company
has adopted Accounting Standards Codification subtopic 740-10, Income Taxes (&amp;#147;ASC 740-10&amp;#148;) 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&amp;#146; compensation and stock based compensation accounting.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The Company
complies with accounting and disclosure requirements of FASB ASC 260, &amp;#147;Earnings Per Share.&amp;#148; Net loss per ordinary
share is computed by dividing net loss applicable to ordinary shareholders by the weighted average number of ordinary shares outstanding
for the period. Common share equivalents are excluded from the diluted earnings (loss) per share computation if their effect is
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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The Company
follows Accounting Standards Codification subtopic 718-10, Compensation (&amp;#147;ASC 718-10&amp;#148;) which requires that all share-based
payments to both employees and non-employees be recognized in the income statement based on their fair values.&lt;/font&gt;&lt;/p&gt;

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;font style="font-size: 11pt"&gt;Stock based compensation recorded
in the unaudited condensed consolidated financial statements for the six months ended June 30, 2013 and 2012 were $180,075 and
$-0- respectively.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;On January
1, 2008, the Company adopted FASB ASC 820-10-50, &amp;#147;Fair Value Measurements.&amp;#148; This guidance defines fair value, establishes
a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value
measures. The three levels are defined as follows:&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for determining the fair value of financial instruments.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;The Company
has adopted all applicable recently-issued accounting pronouncements.&amp;#160;&amp;#160;The adoption of the accounting pronouncements,
including any not yet effective, is not anticipated to have a material effect on the financial position or results of operations
of the Company.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Recently Accounting pronouncements</Label></Row><Row FlagID="0"><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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&lt;p style="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;

&lt;p style="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font-size: 11pt"&gt;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&lt;/font&gt;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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