The condensed consolidated interim financial statements included herein, presented in accordance
with United States generally accepted accounting principles and stated in US dollars, have been prepared by the Company, without
audit, 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 generally accepted accounting principles have been condensed
or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the
information presented not misleading.
·
These statements reflect all adjustments, consisting of normal recurring adjustments, which, in
the opinion of management, are necessary for fair presentation of the information contained therein. It is suggested that these
consolidated interim financial statements be read in conjunction with the consolidated financial statements of the Company for
the year ended June 30, 2013, and notes thereto included in the Company’s Form S-1 Registration Statement. The Company follows
the same accounting policies in the preparation of consolidated interim reports.
·
Results of operations for the interim periods are not indicative of annual results.
The entire disclosure for the 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).