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<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 1 – BASIS OF PRESENTATION</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These consolidated financial statements have
been prepared in accordance with generally accepted accounting principles for the interim financial information with the instructions
to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by
generally accepted accounting principles for complete financial statements. In the opinion of the Company’s management, all
adjustments (consisting of only normal, recurring accruals) considered necessary for a fair presentation have been included. Operating
results for the nine months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year
ending June 30, 2015.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For further information, refer to the financial
statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2014.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company’s fiscal year-end is June 30.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 2 – ACCOUNTING POLICIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This summary of significant accounting policies
of Apolo Gold & Energy Inc. is presented to assist in understanding the Company’s financial statements. The financial
statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity.
These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently
applied in the preparation of the financial statements. There have been no changes in accounting policies from those disclosed
in the notes to the audited financial statements June 30, 2014.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Consolidation</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements include the accounts
of Apolo Gold & Energy Asia Limited (“APLL Asia”), previously a 100% owned subsidiary of the Company. On March
10, 2015, the shares of APLL Asia were sold to a 3<sup>rd</sup> party for $100.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Estimates</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of 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.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Fair Value of Financial Instruments and Concentration of Risk</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A fair value hierarchy was established that
prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active
markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1: classification is applied to any asset
or liability that has a readily available quoted market price from an active market where there is significant transparency in
the executed/quoted price.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2: classification is applied to assets
and liabilities that have evaluated prices where the data inputs to these valuations are observable either directly or indirectly,
but do not represent quoted market prices from an active market.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3: classification is applied to assets
and liabilities when prices are not derived from existing market data and requires us to develop our own assumptions about how
market participants would price the asset or liability.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair values of financial instruments, which
include cash, accounts payable and accrued liabilities and loans payable to related parties, were estimated to approximate their
carrying values due to the immediate or relatively short maturity of these instruments. Management does not believe that the Company
is subject to significant interest, currency or credit risks arising from these financial instruments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Going Concern</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As shown in the financial statements, the Company
incurred a net loss of $114,860 for the period ended March 31, 2015 and has an accumulated deficit of $8,001,705, other income
of $101, and limited cash resources as at March 31, 2015.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These factors indicate that the Company may
be unable to continue in existence. The financial statements do not include any adjustments related to the recoverability and classification
of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue
existence. The Company’s management is actively seeking additional capital and management believes that new properties can
ultimately be developed to enable the Company to continue its operations. However, there are inherent uncertainties in mining operations
and management cannot provide assurances that it will be successful in its endeavors. These financial statements do not include
any adjustments that might result from the outcome of this uncertainty.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Accounting Pronouncements</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has limited operations and is considered
to be in the development stage. During the period ended March 31, 2015, the Company elected to early adopt Accounting Standards
Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption
of this ASU allows the Company to remove the inception to date information and all references to development stage.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has implemented all new accounting
pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial statements
unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have
been issued that might have a material impact on its financial position or results of operations.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 3 – PREFERRED STOCK</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s directors authorized 25,000,000
preferred shares with a par value of $0.001. The preferred shares will have rights and preferences set from time to time by the
Board of Directors. As of March 31, 2015 and June 30, 2014, the Company has no preferred shares issued and outstanding.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 6 – COMMON STOCK</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At a shareholder meeting held October 29, 2010,
shareholders authorized an increase in authorized capital from 200,000,000 to 300,000,000 common shares with a par value of $0.001.
In addition, shareholders also authorized a share consolidation of 20:1. These financial statements have been restated retroactively
to reflect this share consolidation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were 1,875,000 shares of common stock
issued for a cash consideration of $0.08 per share during the period ending September 30, 2013. The shares were issued to a director
of the Company.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 1, 2013, the Company issued 100,000
common shares to a consultant pursuant to an administrative consulting services agreement dated November 16, 2013.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Also on December 1, 2013, the Company issued
200,000 common shares to a consultant pursuant to an additional administrative consulting services agreement dated November 16,
2013.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 6, 2013, the Company issued 5,000,000
common shares at a price of $0.20 per share for proceeds of $1 million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 16, 2013, the Company issued 6,000,000
common shares for three mineral properties.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 23, 2013, the Company issued 8,000,000
common shares to acquire a 24% interest in Everenergy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 11, 2014, the Company issued 100,000
common shares to a senior officer for administrative consulting services agreement dated November 16, 2013.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 19, 2014 the Company issued 11,000,000
common shares to acquire 29% in Everenergy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 15, 2014, the Company issued 653,823
common shares to a director as repayment of debt.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 17, 2014, the Company cancelled
all the 11,000,000 common shares and 8,000,000 common shares originally issued for the acquisition of 29% and 24% interest respectively,
in Everenergy. The 11,000,000 common shares were effectively cancelled on October 21, 2014. The 8,000,000 common shares as at the
date of this report have not been returned. The Company is seeking legal advice on its next steps.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 3, 2015, six million shares issued
for the acquisition of three mineral properties have been effectively returned after cancellation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 18, 2015, the Company issued 700,000
common shares to a director as repayment of debt.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2015, there are 23,132,118 common
shares issued and outstanding.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There were no stock options, warrants or other
potentially dilutive securities outstanding as at March 31, 2015, June 30, 2014 and March 31, 2014.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 9 – COMMITMENTS AND CONTINGENCIES</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Compliance with Environmental Regulations</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company’s mining activities are subject
to laws and regulations controlling not only the exploration and mining of mineral properties, but also the effect of such activities
on the environment. Compliance with such laws and regulations may necessitate additional capital outlays affect the economics of
a project, and cause changes or delays in the Company’s activities.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Commitments:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company has the following commitments:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24px; font: 10pt Times New Roman, Times, Serif"> </td>
<td style="width: 24px; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">●</font></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-size: 10pt">On the November 1, 2013, Company entered into an agreement with a company controlled by the Chief Financial Officer for management services for a fee of $1,250 per month for a period of one year. The contract allows for additional fees if more than ten hours per month is needed from the Chief Financial Officer. The contract is now month to month.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24px"> </td>
<td style="width: 24px"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">On September 15, 2013, the Company entered into a consulting services agreement. Under the agreement, the services begin October 1, 2013 and end October 1, 2014. Fees payable under the agreement is HK$80,000 per month (approximately $10,000 per month). The contact was not renewed or extended.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24px"> </td>
<td style="width: 24px"><font style="font-size: 10pt">●</font></td>
<td style="text-align: justify"><font style="font-size: 10pt">On November 16, 2013, the Company entered into a consulting services agreement, for services to begin December 1, 2013 and end November 30, 2014. Fees payable under the consulting services agreement is $5,000 per month. The contact is now month to month at a reduced rate of $2,500 per month.</font></td></tr>
</table>
<p style="margin: 0pt"></p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 8 – RELATED PARTY TRANSACTIONS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the nine months period ended March 31,
2015, the Chief Executive Officer, made various expense payments for and on behalf of the Company amounting to US$15,482 (nine
months ended March 31, 2014 - $61,617). Such amount was treated as advance made to the Company.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company incurred management fees during
the period to its Chief Financial Officer amounted to $11,250 during the nine months ended March 31, 2015 (nine months ended March
31, 2014 - $7,955).</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Estimates</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of 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.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Fair Value of Financial Instruments and Concentration of Risk</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A fair value hierarchy was established that
prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active
markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1: classification is applied to any asset
or liability that has a readily available quoted market price from an active market where there is significant transparency in
the executed/quoted price.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2: classification is applied to assets
and liabilities that have evaluated prices where the data inputs to these valuations are observable either directly or indirectly,
but do not represent quoted market prices from an active market.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3: classification is applied to assets
and liabilities when prices are not derived from existing market data and requires us to develop our own assumptions about how
market participants would price the asset or liability.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair values of financial instruments,
which include cash, accounts payable and accrued liabilities and loans payable to related parties, were estimated to approximate
their carrying values due to the immediate or relatively short maturity of these instruments. Management does not believe that
the Company is subject to significant interest, currency or credit risks arising from these financial instruments.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Accounting Pronouncements</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has limited operations and is considered
to be in the development stage. During the period ended March 31, 2015, the Company elected to early adopt Accounting Standards
Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption
of this ASU allows the Company to remove the inception to date information and all references to development stage.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has implemented all new accounting
pronouncements that are in effect. These pronouncements did not have any material impact on the consolidated financial statements
unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have
been issued that might have a material impact on its financial position or results of operations.</p>
10-Q
2015-03-31
false
APOLO GOLD & ENERGY INC.
0001040721
--06-30
Smaller Reporting Company
2015
Q3
10079
25079
10172921
1005094
10150000
8950000
1200000
22921
1005094
10079
25079
10172921
1005094
10162842
980015
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1869
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41316
25016
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 4 – MINERAL PROPERTY INTERESTS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 11, 2013, the Company acquired
a 70% interest in three gold exploration claims in China’s Xinjiang Province.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company issued 6-million shares for the following claims:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 24px"> </td>
<td style="width: 24px; padding-right: 0.8pt"><font style="font-size: 10pt">a)</font></td>
<td style="padding-right: 0.8pt; text-align: justify"><font style="font-size: 10pt">Gold Mine Reconnaissance in the West of Daqing Gerry River, Qinghe County, comprising of 7.91 sq km, the claims are valid until March 27, 2014. The agreement for such claims expired on March 27, 2014 and the Company is currently renegotiating a renewed agreement. </font></td></tr>
<tr style="vertical-align: top">
<td style="padding-right: 0.8pt"> </td>
<td style="padding-right: 0.8pt"> </td>
<td style="padding-right: 0.8pt; text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td style="padding-right: 0.8pt"><font style="font-size: 10pt">b)</font></td>
<td style="padding-right: 0.8pt; text-align: justify"><font style="font-size: 10pt">Gold Mine Detailed Survey in the Northwest of Sensha Water Mountain, Heshuo, comprising of 15.8 sq km, the claims are valid until July 3, 2015.</font></td></tr>
<tr style="vertical-align: top">
<td style="padding-right: 0.8pt"> </td>
<td style="padding-right: 0.8pt"> </td>
<td style="padding-right: 0.8pt; text-align: justify"> </td></tr>
<tr style="vertical-align: top">
<td> </td>
<td style="padding-right: 0.8pt"><font style="font-size: 10pt">c)</font></td>
<td style="padding-right: 0.8pt; text-align: justify"><font style="font-size: 10pt">Keler Nebrack Gold Mine Detailed Survey in Habar County, comprising of 10.28 sq km, the claims are valid until February 20, 2015.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 19, 2015, the Company cancelled
the above acquisitions and returned all rights of the three gold exploration claims to Yinfu Gold Corporation. The cancellation
was by mutual consent between the companies and no penalties have been exacted. The six million shares issued to Yinfu Gold Corporation
via its subsidiary Element Resources International Ltd., for the interest in the three claims have been returned and cancelled
effective February 3, 2015.</p>
<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Consolidation</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements include the accounts
of Apolo Gold & Energy Asia Limited (“APLL Asia”), previously a 100% owned subsidiary of the Company. On March
10, 2015, the shares of APLL Asia were sold to a 3<sup>rd</sup> party for $100.</p>
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0.29
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8000000
11000000
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20:1
100000
200000
100000
1.00
7.91
15.8
10.28
2014-03-27
2015-07-03
2015-02-20
15482
8000000
11000000
8000000
6000000
653823
700000
1000000
-3000000
0
0
0
2014-10-21
1000000
1250
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11250
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<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 7 – SHARES TO BE CANCELLED</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 23, 2013, the Company acquired
a 24% interest in Jiangxi Everenergy New Material Co., Ltd. (“Everenergy”). The Company issued 8-million restricted
common stocks at a deemed price of $0.375 per share, plus $1-million in cash. However, due to failed negotiations and sellers’
failure to provide the required financial information, the acquisition exercise for Everenergy was unsuccessful and consequently
the acquisition was cancelled.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company is seeking the return of the 8 million shares and has
issued a demand notice for the return of the $1-million payment.</p>
1000000
2013-10-01
2013-12-01
2014-10-01
2014-11-30
P1Y
The contract allows for additional fees if more than ten hours per month is needed from the Chief Financial Officer.
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<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 5 – INVESTMENTS</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 23, 2013, the Company acquired
a 24% interest in Jiangxi Everenergy New Material Co., Ltd. (“Everenergy”). The consideration was settled with the
Company of 8-million restricted common stocks at a deemed price of $0.375 per share, plus $1-million in cash. Additionally, on
February 19, 2014, the Company acquired an additional 29% interest in Everenergy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 17, 2014, after much negotiations
and discussions with the EverEnergy, the Company cancelled all the 11,000,000 common shares and 8,000,000 common shares originally
issued for the acquisition of 29% and 24% interest respectively, in Everenergy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 11-million shares issued were effectively
cancelled on October 21, 2014, and the remaining 8-million shares issued are in the process of cancellation and seeking repayment
of the $1 million paid for the acquisition. The repayment is included in Accounts Receivable in the Consolidated Balance Sheet.</p>
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<p style="margin: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Going Concern</u></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As shown in the financial statements, the Company
incurred a net loss of $114,860 for the period ended March 31, 2015 and has an accumulated deficit of $8,001,705, other income
of $101, and limited cash resources as at March 31, 2015.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These factors indicate that the Company may
be unable to continue in existence. The financial statements do not include any adjustments related to the recoverability and
classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company
cannot continue existence. The Company’s management is actively seeking additional capital and management believes that
new properties can ultimately be developed to enable the Company to continue its operations. However, there are inherent uncertainties
in mining operations and management cannot provide assurances that it will be successful in its endeavors. These financial statements
do not include any adjustments that might result from the outcome of this uncertainty.</p>
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