U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q/A

(Mark One)

[X]     QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2007

[   ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____ TO ______.

Commission File Number: 333-103986

NANO-JET CORP.
(Exact name of registrant as specified in its charter)

Nevada	98-0384073
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

15321 Main Street, Suite 102

PO Box 5000, PMB 152

Duvall, WA 98019

(Address of principal executive offices)

(425) 451-8036
(Issuer’s Telephone Number)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), Yes XX    No ___    and (2) has been subject to such filing requirements for the past 90 days. Yes XX    No    ___

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a smaller reporting company.  See the definitions of the “large accelerated filer,” “accelerate filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.   (Check one):

Large Accelerated Filer [  ]

Accelerated Filer [  ]

Non-Accelerated Filer [  ]

Smaller reporting company [X]

(Do not check if a smaller reporting company)

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  [ ] Yes     [ X ] No

As of June 30, 2007, the issuer had 41,569,633 issued and outstanding of its common stock.

EXPLANATORY NOTE

This Amendment #1 on Form 10-Q/A amends and restates items identified below with respect to the Form 10-QSB filed by Hitor, Inc. (formerly know as Nano-Jet Corp.) (the “Company”) for the period ended June 30, 2007, with the Securities and Exchange Commission (the “SEC”) on August 20, 2007, (the “Original Filing”). The purpose of this Amendment is to amend and restate the previously issued financial statements included in the Original Filing for the reasons fully set forth in Note 2 to the financial statements included in Item 1 (Financial Statements) herein. Other than as set forth below, the Original Filing continues to speak as of the date of the filing thereof, and the disclosure relating to items not being updated remains unchanged.

We would encourage any user of this filing to review our current filings for the most accurate current information. This Amendment is being filed as a corrected historical document.

This Amendment amends and restates the information in “Item 1. Financial Statements,” “Item 2. Management’s Discussion and Analysis,” and “Item 3 Controls and Procedures” of the Original Filing. This Amendment continues to describe conditions as of the date of the Original Filing, and the disclosures contained herein have not been updated to reflect events, results or developments that have occurred after the date of the Original Filing, or to modify or update those disclosures affected by subsequent events. Among other things, forward-looking statements made in the Original Filing have not been revised to reflect events, results or developments that have occurred or facts that have become known to us after the date of the Original Filing, and such forward-looking statements should be read in their historical context. This Amendment should be read in conjunction with the Company’s filings made with the SEC subsequent to the Original Filing, including any amendments to those filings.

Restatement of previously issued financial statements to correct a material misstatement is an indicator of a material weakness in internal control over financial reporting.  A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

The Company did not have sufficient qualified personnel with an adequate understanding of generally accepted accounting principles and experience in the application of such principles to financing transactions, which led to a material misstatement of the Company’s interim financial statements for the quarters ended September 30, 2006, March 31, 2007, June 30, 2007, September 30, 2007, March 31 2008, June 30, 2008 and September 30, 2008, and the fiscal years ended December 31, 2006 and 2007.  Management has determined that this is a material weakness in internal controls over financial reporting as of and for each of the periods mentioned above. As of the date of this report, the Company believes that it has taken appropriate steps to remedy these weaknesses.

PART I – FINANCIAL INFORMATION

Item 1. Financial Statement

NANO-JET, CORP.
Index to Financial Statements
Restated
Balance Sheet:
June 30, 2007	F-2
Statements of Operations:
For the six months ended June 30, 2007	F-3
Statements of Stockholders' Deficit:
For the six months ended June 30, 2007	F-4
Statements of Cash Flows:
For the six months ended June 30, 2007	F-5

NANO-JET, CORP.
(A development stage enterprise)
Balance Sheet
Restated
	(Unaudited)	(Audited)
	June 30,	December 31,
	2007	2006
ASSETS
Current assets:
Cash	$        448,277	$        140,127
Funds held in trust, Attorney	1,412	1,412
Accounts receivable	-	3,500
Shareholder Receivable	41,879	-
Inventory	99,008	9,870
Total current assets	590,576	154,909
Fixed Assets
Furniture and Equipment	5,646	-
Computer Equipment	4,454	-
Leasehold Improvements	-	-
Total Fixed Assets	10,100	-
Less Accumulated Depreciation	-	-
Net Fixed Assets	10,100	-
Other Assets
Deposits	-	-
Goodwill	-	-
Total Other Assets	-	-
Total assets	$        600,676	$        154,909
LIABILITIES
Current liabilities:
Accounts payable and accrued expenses	$         13,995	$           2,829
Deposit	-	-
Advances from shareholder	-	75,531
Advance from Lantz Financial, Inc.	24,500	24,500
Total current liabilities	38,495	102,860
Long-term  liabilities:
Convertible Notes Payable	300,000	200,000
Total long-term liabilities	300,000	200,000
Total liabilities	338,495	302,860
STOCKHOLDERS' DEFICIT
Common stock, $.001 par value, 100,000,000 authorized,
41,569,633 shares issued and outstanding	41,570	40,570
Capital in excess of par value	730,799	31,799
Deficit accumulated during the development stage	(510,188)	(220,320)
Total stockholders' deficit	262,181	(147,951)
Total liabilities and stockholders' deficit	$        600,676	$        154,909
F-2

NANO-JET, CORP.
(A development stage enterprise)
Statements of Operations
Restated (Unaudited)
	Cumulative,
	Inception,
	July 15,	Three Months	Six Months
	2005 Through	Ended	Ended
	June 30,	June 30,	June 30,
	2007	2007	2007
Sales	$         17,775	$           1,975	$           7,275
Cost of Sales	16,109	2,500	5,000
Cost of Sales	1,666	(525)	2,275
General and administrative expenses:
Salaries	74,380	1,500	22,500
Depreciation	-	-	-
Legal and professional	269,805	130,299	155,237
Marketing and Advertising	3,740	3,164	3,164
Insurance	24,719	21,233	21,233
Communications	7,314		4,804
Rent	15,486	8,900	15,486
Demo Expense	-
Other general and administrative	80,349	18,307	33,624
Total operating expenses	475,793	183,403	256,048
(Loss) from operations	(474,127)	(183,928)	(253,773)
Other income (expense):
Interest Income	34	-
Interest (expense)	(36,095)	(28,178)	(36,095)
(Loss) before taxes	(510,188)	(212,106)	(289,868)
Provision (credit) for taxes on income	-	-	-
Net (loss)	$      (510,188)	$      (212,106)	$      (289,868)
Basic earnings (loss) per common share		$           (0.01)	$           (0.01)
Weighted average number of shares outstanding		40,652,966	40,569,633
F-3

NANO-JET, CORP.
(A development stage enterprise)
Statements of Stockholders' Deficit
Restated (Unaudited)
				Deficit
				Accumulated
			Capital in	During the
	Common Stock		Excess of	Development
	Shares	Amount	Par Value	Stage	Total
Inception, July 15, 2005 through December 31, 2005:
Balances, December 31, 2005	81,005,000	$          81,005	$              -	$        (135,692)	$      (54,687)
Effects of Reverse Merger with LFG
September 30, 2006	(40,435,367)	(40,435)	31,799		(8,636)
Net (loss)				(84,628)	(84,628)
Balances, December 31, 2006	40,569,633	$          40,570	$    31,799	$        (220,320)	$    (147,951)
Conversion of subordinated debt
June 19, 2007	1,000,000	1,000	699,000		700,000
Net (loss)				(289,868)	(289,868)
Balances, June 30, 2007	41,569,633	$          41,570	$  730,799	$       (510,188)	$      262,181
F-4

NANO-JET, CORP.
(A development stage enterprise)
Statements of Cash Flows
Restated (Unaudited)
	Cumulative,
	Inception,
	July 15,
	2005 Through
	June 30,	June 30,
	2007	2007
Cash flows from operating activities:
Net (loss)	$      (510,188)	$      (289,868)
Adjustments to reconcile net (loss) to cash
provided (used) by developmental stage activities:
Common stock issued for services	81,005
Effects of reverse merger with LFG	(8,636)
Depreciation and Amortization		-
Change in current assets and liabilities:
Funds held in trust, Attorney	(1,412)
Inventory	(99,008)	(89,138)
Accounts receivable		3,500
Deposits	-	-
Accounts payable and accrued expenses	13,995	11,116
Net cash flows from operating activities	(524,244)	(364,390)
Cash flows from investing activities:
Purchase of fixed assets	(10,100)	(10,100)
Website development costs incurred
Net cash flows from investing activities	(10,100)	(10,100)
Cash flows from financing activities:
Proceeds from sale of common stock	700,000	700,000
Advances from/to shareholder	(41,879)	(117,410)
Convertible Note Payable	300,000	100,000
Advance from Lantz Financial, Inc.	24,500	-
Net cash flows from financing activities	982,621	682,590
Net cash flows	448,277	308,100
Cash and equivalents, beginning of period	-	140,127
Cash and equivalents, end of period	$        448,277	$        448,227
Supplemental cash flow disclosures:
Cash paid for interest	$        (36,095)	$        (28,178)
Cash paid for income taxes	-	-
F-5

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

Note 1 - Organization and summary of significant accounting policies:

Following is a summary of the Company’s organization and significant accounting policies:

Organization and nature of business - Hitor Group Inc., formerly Nano-Jet Corp. (“We,” or “the Company”) is a Nevada corporation incorporated on July 15, 2005. Effective December 6, 2007, the Company changed its name to Hitor Group Inc.  

The Company’s product is anticipated to allow owners and operators of both gasoline and diesel powered vehicles to potentially increase fuel efficiency while reducing fuel emissions into the environment. In addition, the Company intends to operate three other subsidiaries. One will focus on oil extraction, transport and storage solutions. The other will focus on alternative powered private and commercial vehicles.  The Company owns a proprietary technology and currently is applying for patents and has hired patent attorneys for this technology worldwide

Basis of presentation - Our accounting and reporting policies conform to U.S. generally accepted accounting principles applicable to development stage enterprises.  Changes in classification of 2007 amounts have been made to conform to current presentations.

Use of estimates - 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 amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.  

Cash and cash equivalents - For purposes of the statement of cash flows, we consider all cash in banks, money market funds, and certificates of deposit with a maturity of less than three months to be cash equivalents.

Funds held in trust, Attorney - Our attorney held funds from our account from time to time, and used them to pay corporate expenses.  We consider such funds to be a current asset, but do not consider them to be cash equivalents.

Inventory – Inventory is recorded at first-in first-out cost.  The inventory consists of imported parts.

Website development costs - We follow Emerging Issues Task Force Issue No. 00-2, Accounting for Website Development Costs, (“EITF Issue No. 00-2”), which provides that for specific website development costs, the accounting should be based generally on AICPA Statement of Position 98-1, Accounting for the Costs of Computer Software Developed or Obtained for Internal Use.  Under SOP 98-1, development costs are capitalized and amortized to income over the estimated useful life of the website.  We amortized our costs over a period ending in November, 2004, at which time our domain registration expired.  

Property and Equipment - The Company values its investment in property and equipment at cost less accumulated depreciation.  Depreciation is computed primarily by the straight line method over the estimated useful lives of the assets ranging from five to thirty-nine years.    

Fair value of financial instruments and derivative financial instruments - We have adopted Statements of Financial Accounting Standards regarding Disclosure About Derivative Financial Instruments and Fair Value of Financial Instruments. The carrying amounts of cash, accounts payable, accrued expenses, and other current liabilities approximate fair value because of the short maturity of these items. These fair value estimates are

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

subjective in nature and involve uncertainties and matters of significant judgment, and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates.  We do not hold or issue financial instruments for trading purposes, nor do we utilize derivative instruments in the management of foreign exchange, commodity price or interest rate market risks.  

Federal income taxes - Deferred income taxes are reported for timing differences between items of income or expense reported in the financial statements and those reported for income tax purposes in accordance with Statements of Financial Accounting Standards regarding Accounting for Income Taxes, which requires the use of the asset/liability method of accounting for income taxes. Deferred income taxes and tax benefits are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss and credit carryforwards.  Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.  Deferred taxes are provided for the estimated future tax effects attributable to temporary differences and carryforwards when realization is more likely than not.

Net income per share of common stock - We have adopted Statements of Financial Standards regarding Earnings per Share, which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation.  In the accompanying financial statements, basic earnings per share of common stock is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period.  We do not have a complex capital structure requiring the computation of diluted earnings per share.  

Note 2 - Restated Statements - The financials statements have been revised due to management’s determination that the merger of the Company with LFG International, Inc. which was originally shown as an acquisition was in fact a reverse merger.  All statements since September 30, 2006, date of merger, have been revised for this correction.

The following table represents the effects of the restated statements as of December 31, 2007 and 2006:

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

Note 3 - Uncertainty, going concern:

At December 31, 2007, we were engaged in a business and had suffered losses from development stage activities to date. In addition, current liabilities exceed current assets, and we have minimal operating funds. Although management is currently attempting to identify business opportunities and is seeking additional sources of equity or debt financing, there is no assurance these activities will be successful. Accordingly, we must rely on our officers to perform essential functions without compensation until a business operation can be commenced.  No amounts have been recorded in the accompanying financial statements for the value of officers’ services, as it is not considered material.   

These factors raise substantial doubt about the ability of the Company to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Note 4 - Advance from Lantz Financial, Inc.:

On March 6, 2006, April 20, 2005, and November 28, 2005, we obtained loans of $10,000, $8,500 and $6,000 respectively from Lantz Financial, Inc., a Panamanian company.  Lantz is a non-affiliate of the Company (not associated with any officer, director, or 5% shareholder). The loans are not evidenced by a note, do not bear interest, and are unsecured. They are due on demand.  The lender has indicated that it may want to convert the debt into shares in the future, but there is no agreement to that effect, and no understanding as to any other terms.

Note 5 - Federal income tax:

We follow Statements of Financial Accounting Standards regarding Accounting for Income Taxes. 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 carryforwards. 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 carryforward has been recognized, as it is not deemed likely to be realized.

The provision for refundable Federal income tax consists of the following:

12/31/2006

12/31/2007

Refundable Federal income tax attributable to:

Current operations

  $(28,774)

 $(250,260)

Less, Nondeductible expenses

         -0-

        -0-

-Less, Change in valuation allowance

     28,774

    250,260

 Net refundable amount

         -0-                    -0-

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount  is as follows:

 12/31/2006

    12/31/07

Deferred tax asset attributable to:

 Net operating loss carryover

   $74,909  

  $ 325,170

Less, Valuation allowance

   ( 74,909)

  ( 325,170)

 Net deferred tax asset

        -0-                      -0-

At December 31, 2007, an unused net operating loss carryover approximating $956,381 is available to offset

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

future taxable income; it expires beginning in 2018.  Due to the change of control of the Company, the use of the net operating loss may be limited in the future.   

Note 6 - Cumulative sales of stock:

Since its inception, we have issued shares of common stock as follows:

On July 15, 2005, the Company issued 81,005,000 founder shares for services rendered in the amount of $81,005.

On September 30, 2006 the Company completed a reverse merger with LFG International, Inc.  The Company issued 67,133 shares for the outstanding shares of LFG International, Inc.  As part of the recapitalization of the reverse merger the Company executed a reverse 2:1 stock split.  The effect of this reverse split was a reduction of the outstanding shares to 40,435,367.

On June 19, 2007, the Company’s convertible notes payable were called.  The company issued 1,000,000 shares in exchange for $700,000 of the convertible notes.

On July 12, 2007 the Company issued 100,000 shares of common stock in exchange for consulting services rendered.

Note 7 - Convertible Notes Payable:

On December 12, 2006 the Company issued a convertible notes payable in the amount of $300,000.  $200,000 of the loan was advanced in December, 2006.  In March 2007, the additional $100,000 was received.  The note is due one year from the date of issue and bears interest at the rate of 5% per annum compounded annually.  The terms of the note allow the holder to convert the note into shares of the Company’s stock at the rate of one share per $1 of debt, including unpaid interest.  The balance of the convertible notes payable at December 31, 2007, was $300,000.

Note 8 - Merger with LFG International, Inc.:

Effective September 30, 2006 the Company issued 67,000 shares of its common stock as part of the merger with LFG International, Inc.  The Company has issued a significant amount of its stock to acquire the Company and therefore is considered a reverse acquisition under SFAS No. 141.  As part of the reverse acquisition the Company initiated a 2:1 stock reversal at date of transaction.

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

At the time of the merger the assets and liabilities of the Company and LFG International consisted of the following:

	Nano Jet	LFG	Combined
ASSETS:
Current Assets:
Cash	$               447	$                  -	$               447
Cash held in trust account		2,920	2,920
Accounts receivable	3,500		3,500
Inventory	9,870		9,870
Total Current Assets	13,817	2,920	16,737
TOTAL ASSETS	$          13,817	$            2,920	$          16,737
LIABILITIES AND STOCKHOLDERS DEFICIT:
Current Liabilities:
Accounts payable	$                  -	$          41,569	$                  -
Accrued expenses	3,516	17,000
Total Current Liabilities	3,516	58,569	-
Long Term Liabilities:
Shareholder loans	118,461	20,000	134,033
Loans payable	25,000	24,500	24,500
Total Long Term Liabilities	143,461	44,500	158,533
Stockholders Deficit:
Common stock	81,005	67	40,570
Paid in capital		72,000	31,799
Accumulated deficit	(214,165)	(172,216)	(214,165)
Total Stockholders Equity	(133,160)	(100,149)	(141,796)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	$          13,817	$            2,920	$          16,737

Note 9 - Stock Subscriptions

On March 22, 2007 the Company issued a stock subscription in the amount of $700,000.  The subscription is for 1,000,000 shares at a rate of $0.70 per share.  Among other provisions, the subscription holder has exclusive selling rights to the Company’s product in Poland and responsibilities to sell preset amounts of product.

Note 10 - New accounting pronouncements:

In May 2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 163, “Accounting for Financial Guarantee Insurance Contracts-and interpretation of FASB Statement No. 60”.  SFAS No. 163 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

measurement of premium revenue and claims liabilities. This statement also requires expanded disclosures about financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal years beginning on or after December 15, 2008, and interim periods within those years. SFAS No. 163 has no effect on the Company’s financial position, statements of operations, or cash flows at this time.

In May 2008, the Financial Accounting Standards Board (“FASB”) issued SFAS No. 162, “The Hierarchy of Generally Accepted Accounting Principles”.  SFAS No. 162 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. SFAS No. 162 will become effective 60 days after the SEC approves the PCAOB’s amendments to AU Section 411 of the AICPA Professional Standards. SFAS No. 162 has no effect on the Company’s financial position, statements of operations, or cash flows at this time.

In March 2008, the Financial Accounting Standards Board, or FASB, issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activities—an amendment of FASB Statement No. 133.  This standard requires companies to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008, with early application encouraged. The Company has not yet adopted the provisions of SFAS No. 161, but does not expect it to have a material impact on its consolidated financial position, results of operations or cash flows.

 In December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding the use of a "simplified" method, as discussed in SAB No. 107 (SAB 107), in developing an estimate of expected term of "plain vanilla" share options in accordance with SFAS No. 123 (R), Share-Based Payment.  In particular, the staff indicated in SAB 107 that it will accept a company's election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007. The Company currently uses the simplified method for “plain vanilla” share options and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is not believed that this will have an impact on the Company’s consolidated financial position, results of operations or cash flows.

In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statements—an amendment of ARB No. 51.  This statement amends ARB 51 to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Before this statement was issued, limited guidance existed for reporting noncontrolling interests. As a result, considerable diversity in practice existed. So-called minority interests were reported in the consolidated statement of financial position as liabilities or in

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

the mezzanine section between liabilities and equity. This statement improves comparability by eliminating that diversity. This statement is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier adoption is prohibited. The effective date of this statement is the same as that of the related Statement 141 (revised 2007). The Company will adopt this Statement beginning March 1, 2009. It is not believed that this will have an impact on the Company’s consolidated financial position, results of operations or cash flows.

In December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations.’ This Statement replaces FASB Statement No. 141, Business Combinations, but retains the fundamental requirements in Statement 141.  This Statement establishes principles and requirements for how the acquirer: (a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquiree; (b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and (c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. This statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. An entity may not apply it before that date. The effective date of this statement is the same as that of the related FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements.  The Company will adopt this statement beginning March 1, 2009. It is not believed that this will have an impact on the Company’s consolidated financial position, results of operations or cash flows.

In February 2007, the FASB, issued SFAS No. 159, The Fair Value Option for Financial Assets and Liabilities—Including an Amendment of FASB Statement No. 115.  This standard permits an entity to choose to measure many financial instruments and certain other items at fair value. This option is available to all entities. Most of the provisions in FAS 159 are elective; however, an amendment to FAS 115 Accounting for Certain Investments in Debt and Equity Securities applies to all entities with available for sale or trading securities. Some requirements apply differently to entities that do not report net income. SFAS No. 159 is effective as of the beginning of an entity's first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of the previous fiscal year provided that the entity makes that choice in the first 120 days of that fiscal year and also elects to apply the provisions of SFAS No. 157 Fair Value Measurements.  The Company will adopt SFAS No. 159 beginning March 1, 2008 and is currently evaluating the potential impact the adoption of this pronouncement will have on its consolidated financial statements.

In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements  This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. This statement applies under other accounting pronouncements that require or permit fair value measurements, the Board having previously concluded in those accounting pronouncements that fair value is the relevant measurement attribute. Accordingly, this statement does not require any new fair value measurements. However, for some entities, the application of this statement will change current practice. This statement is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Earlier application is encouraged, provided that the reporting entity has not yet issued financial statements for that fiscal year, including financial statements for an interim period within that fiscal year. The Company will adopt this

Nano-Jet Corp.

(A development stage enterprise)

Notes to Financial Statements

June 30, 2007

statement March 1, 2008, and it is not believed that this will have an impact on the Company’s consolidated financial position, results of operations or cash flows.

Item 2. Plan of Operation

Business Description

Nano-Jet Corp. was incorporated on November 4, 2002, in the State of Nevada as Can/Am Autosales, Inc.  The Company changed its name to on August 27, 2004, to LFG International, Inc.  On September 30, 2006, the Company completed a merger with Nano-Jet Corp., a private Nevada corporation.  On October 19, 2006, the Company changed its name to Nano-Jet Corp.

Nano-Jet has licensed a proprietary technology and currently holds patents for this technology worldwide.  The Company’s product will allow owners and operators of both gasoline and diesel powered vehicles to potentially save up to 20% in fuel efficiency and reduce fuel emissions into the environment by as much as 50%.

Plan of Operation

1.

Overview

Nano-Jet will market to both the American and international trucking and automobile parts distribution companies. It is not the intent of the Company to market directly to the consumer, but rather through distribution channels in the truck, automobile and motorcycle industry. The Company will educate these groups about the benefits of a Nano-Jet fuel saving device. Nano-Jet expects to form licensing arrangements with original equipment manufacturers (OEMs) having high brand recognition in the automobile marketplace.

2.

Marketing Strategies

a. Nano-Jet’s primary market is the American trucking companies and automobile manufacturers and international trucking and automobile makers.  Nano-Jet expects its products will increase the speed and effectiveness with which it educates the consumer in order to capture more market share.  It will effectively do this by:

·

Producing commercials that demonstrate the superior performance and fuel efficiency of Nano-Jet products;

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Enlisting a well-known high performance automobile driver, who can be the marketing face of the company to both the recreational and commercial automotive user;

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Implementing a concurrent advertising campaign using both web and print versions of major publishers like Motor Trend, Road and Track and national newspapers and trucking magazines.

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Seek to get product evaluators at automobile, truck and motorcycle magazines to evaluate and write articles about Nano-Jet and its multiple lines of products.

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Intentionally form relationships with reporters interested in automobile fuel efficiency with the goal of increasing the media examination of the issues associated with traditional fossil fuel consumption;

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Increasing the direct response to Nano-Jet’s website by strategic search engine registrations, increased links, and an email marketing campaign;

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Adding video content to Nano-Jet’s commercial website so visitors experience a educational video presentation on the fuel efficiency and performance benefits of Nano-Jet products as well as testimonials from consumers;

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Training a sales staff whose mission will be to educate trucking companies, automobile parts distributors and motorcycle manufacturers of the benefits of Nano-Jet for its customers;

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Create strategic alliances with manufacturing companies like Kenworth, Peterbuilt, Volvo, Mercedes, General Motors, Ford, Toyota, Nissan, and Chrysler.

b. Licensing Agreements-Original Equipment Manufacturers

In addition to marketing techniques that effectively educate and lead the trucking and automobile companies to buy Nano-Jet products, Nano-Jet will also pursue strategic alliances with one or more major OEMs via licensing agreements.  These OEMs should have wide brand recognition, excellent financial health and resources, an established presence in international markets, and a track record of honoring its licensing agreements.  The benefits of forming a licensing relationship with a major OEM include:

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Lower financial risk due to shared costs;

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Lower business risk because of the prior success;

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Immediate brand recognition and acceptance;

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Facilitates acceptance of Nano-Jet’s new technology;

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Access to new distribution channels;

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Ease of entry into international markets of the OEM’s;

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Platform for ease of entry of future Nano-Jet products;

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Ability to focus on R&D of future products;

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Provides greater protection of intellectual property;

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Quickens the pace toward becoming a market standard.

An effective OEM licensing relationship will result in higher marketplace visibility for Nano-Jet, reduce the Company’s costs of marketing, and speed up marketing for world consumption.                

3. Website

The Nano-Jet website will actas a centerpiece to operations and in the future Nano-Jet will further build out their website which will be accessed by member password for trucking companies and distributors. The website will form a hub for its Internet community which will also include motorcycle parts distributors. The website will be technically viewed as a portal to all of Nano-Jet’s product lines. The site will also provide an arena for ongoing communication among users, testimonials, etc. Online information will be available to members in a highly intuitive format.

The Company's two-fold marketing and sales strategy is directed toward establishing immediate technological preeminence, rapid penetration, and market dominance within five years of market entry.  The company will first approach trucking companies and truck manufacturers, truck, automobile and motorcycle distributors, as well as wholesalers.

Financial Discussion

As of June 30, 2007, Nano-Jet had $448,227 cash.  Development stage net loss for the six-months ended June 30, 2007 was $289,868, compared to $24,135 for the six-month period ended June 30, 2006.  The loss for the quarter ended June 30, 2007 consisted primarily of legal and accounting expenses incident to the company’s development stage activities and its recent merger.   

There is substantial doubt about our ability to continue as a going concern as we have suffered recurring losses from operations and have no established source of revenue.  Accordingly, our independent auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern.  Our financial statements contain additional note disclosures describing the circumstances that lead to this disclosure by our independent auditors.

Item 3. Controls and procedures

(a) Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)), have concluded that, as of September 30, 2007, our disclosure controls and procedures were not effective in providing reasonable assurance that information we are required to disclose in reports we file is recorded, processed, summarized and reported within the periods specified.

Specifically, we have noted the following material weaknesses and significant deficiencies in our internal controls over financial reporting and disclosure:

· we do not have sufficient segregation of duties in our day-to-day operations and have not implemented compensating controls to offset the material weaknesses noted;

· we have noted material weaknesses with respect to our financial reporting process, most notably our internal audit functions;

· we have noted material weaknesses with respect to our corporate governance and control environment, as noted by restatements of our financial statements from September 30, 2006, to September 30, 2008, due to material misstatements noted in the mis-classification and treatment of our reverse merger, as more fully described in Note 2 to the interim financial statements filed with this report.  We have restated all financial statements from September 30, 2006 to September 30, 2008.

(b) Management’s Annual Report on Internal Control Over Financial Reporting

We have noted material weaknesses and significant deficiencies in our internal controls over financial reporting as a result of material misstatements relating to our financial statements from September 30, 2006 to September 30, 2008 as outlined above.  For more information on the material weakness, refer to Item 8 of Form 10-K/A for the year ended December 31, 2008 as filed on June 15, 2009.

(c) Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting during the three months ended September 30, 2007, that have materially affected, or are reasonably likely to materially affect our internal controls over financial reporting.

Due to the material weaknesses and significant deficiencies noted above, management and the Board of Directors are currently working to remediate all noted weaknesses and deficiencies.  

Part II – Other Information

Item 6. Exhibits and Reports on Form 8-K
Exhibits:

Exhibit No.	Document	Location
3.1	Articles of Incorporation	Previously Filed
3.2	Bylaws	Previously Filed
31.1	Certification of the Chief Financial Officer of the Company as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Included
32	Certification of the Chief Executive Officer and Chief Financial Officer of the Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	Included

 In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, this 11^th day of June, 2009.

NANO-JET CORP.

By: Ken Martin

Its: CEO, Principal Accounting Officer